THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LIMITED DURATION FUND JULY 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS |
| |||||||
CORPORATE OBLIGATIONS — 53.4% |
| |||||||
Face Amount | Value | |||||||
COMMUNICATION SERVICES — 2.8% |
| |||||||
AT&T | ||||||||
3.550%, 06/01/24 | $ | 680,000 | $ | 727,716 | ||||
Bell Canada | ||||||||
0.750%, 03/17/24 | 610,000 | 613,332 | ||||||
Charter Communications Operating | ||||||||
4.500%, 02/01/24 | 620,000 | 674,629 | ||||||
Cox Communications | ||||||||
2.950%, 06/30/23(A) | 562,000 | 585,452 | ||||||
NTT Finance | ||||||||
0.583%, 03/01/24(A) | 1,260,000 | 1,260,726 | ||||||
|
| |||||||
3,861,855 | ||||||||
|
| |||||||
CONSUMER DISCRETIONARY — 0.9% |
| |||||||
Daimler Finance North America | ||||||||
3.650%, 02/22/24(A) | 635,000 | 682,289 | ||||||
General Motors Financial | ||||||||
4.250%, 05/15/23 | 555,000 | 589,416 | ||||||
|
| |||||||
1,271,705 | ||||||||
|
| |||||||
CONSUMER STAPLES — 6.8% |
| |||||||
7-Eleven | ||||||||
0.800%, 02/10/24(A) | 1,230,000 | 1,230,225 | ||||||
Bunge Finance | ||||||||
4.350%, 03/15/24 | 620,000 | 674,839 | ||||||
Coca-Cola European Partners | ||||||||
0.800%, 05/03/24(A) | 850,000 | 849,963 | ||||||
Conagra Brands | ||||||||
4.300%, 05/01/24 | 480,000 | 526,018 | ||||||
Constellation Brands | ||||||||
4.750%, 11/15/24 | 460,000 | 516,170 | ||||||
Diageo Capital | ||||||||
2.125%, 10/24/24 | 1,210,000 | 1,266,295 | ||||||
General Mills | ||||||||
1.144%, VAR ICE LIBOR USD 3 Month+1.010%, 10/17/23 | 490,000 | 496,607 | ||||||
Kellogg | ||||||||
2.750%, 03/01/23 | 300,000 | 310,663 | ||||||
Keurig Dr Pepper | ||||||||
4.057%, 05/25/23 | 246,000 | 261,730 | ||||||
McCormick | ||||||||
3.150%, 08/15/24 | 640,000 | 683,890 | ||||||
Molson Coors Beverage | ||||||||
3.500%, 05/01/22 | 520,000 | 532,258 | ||||||
Mondelez International Holdings Netherlands BV | ||||||||
2.250%, 09/19/24(A) | 655,000 | 685,237 | ||||||
Nestle Holdings | ||||||||
0.375%, 01/15/24(A) | 590,000 | 588,382 | ||||||
Suntory Holdings | ||||||||
2.250%, 10/16/24(A) | 660,000 | 687,096 | ||||||
|
| |||||||
9,309,373 | ||||||||
|
|
CORPORATE OBLIGATIONS — continued |
| |||||||
Face Amount | Value | |||||||
ENERGY — 3.1% | ||||||||
Chevron USA | ||||||||
7.250%, 10/15/23 | $ | 500,000 | $ | 574,030 | ||||
Diamondback Energy | ||||||||
2.875%, 12/01/24 | 600,000 | 631,844 | ||||||
Gray Oak Pipeline | ||||||||
2.000%, 09/15/23(A) | 575,000 | 586,830 | ||||||
Halliburton | ||||||||
3.500%, 08/01/23 | 26,000 | 27,370 | ||||||
MarkWest Energy Partners | ||||||||
4.500%, 07/15/23 | 575,000 | 600,103 | ||||||
Ovintiv | ||||||||
3.900%, 11/15/21 | 416,000 | 416,034 | ||||||
Pioneer Natural Resources | ||||||||
0.750%, 01/15/24 | 615,000 | 615,157 | ||||||
Plains All American Pipeline | ||||||||
3.650%, 06/01/22 | 500,000 | 508,890 | ||||||
Southern Natural Gas | ||||||||
0.625%, 04/28/23(A) | 340,000 | 339,690 | ||||||
|
| |||||||
4,299,948 | ||||||||
|
| |||||||
FINANCIALS — 18.9% | ||||||||
Ally Financial | ||||||||
3.875%, 05/21/24 | 1,520,000 | 1,643,587 | ||||||
Ansett Worldwide Aviation Services Leasing | ||||||||
4.870%, 10/03/21(A)(B) | 638,666 | 642,856 | ||||||
Ares Capital | ||||||||
4.200%, 06/10/24 | 630,000 | 678,946 | ||||||
Banco Santander | ||||||||
0.701%, VAR US Treas Yield Curve Rate T Note Const Mat 1 Yr+0.450%, 06/30/24 | 800,000 | 802,592 | ||||||
Bank of America MTN | ||||||||
3.550%, VAR ICE LIBOR USD 3 Month+0.780%, 03/05/24 | 560,000 | 586,594 | ||||||
Bank of Nova Scotia | ||||||||
0.700%, 04/15/24 | 680,000 | 681,684 | ||||||
0.650%, 07/31/24 | 680,000 | 680,673 | ||||||
BBVA USA | ||||||||
2.500%, 08/27/24 | 500,000 | 528,462 | ||||||
BlackRock TCP Capital | ||||||||
3.900%, 08/23/24 | 630,000 | 670,274 | ||||||
Canadian Imperial Bank of Commerce | ||||||||
2.606%, VAR ICE LIBOR USD 3 Month+0.785%, 07/22/23 | 750,000 | 766,478 | ||||||
Capital One Financial | ||||||||
3.300%, 10/30/24 | 630,000 | 679,211 | ||||||
Charles Schwab | ||||||||
7.000%, VAR ICE LIBOR USD 3 Month+4.820%(C) | 410,000 | 420,250 |
1
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LIMITED DURATION FUND JULY 31, 2021 (Unaudited) |
CORPORATE OBLIGATIONS — continued |
| |||||||
Face Amount | Value | |||||||
FINANCIALS — continued | ||||||||
CIT Group | ||||||||
3.929%, VAR United States Secured Overnight Financing Rate+3.827%, 06/19/24 | $ | 970,000 | $ | 1,018,500 | ||||
Citigroup | ||||||||
1.256%, VAR ICE LIBOR USD 3 Month+1.100%, 05/17/24 | 955,000 | 968,482 | ||||||
Citizens Bank | ||||||||
3.250%, 02/14/22 | 250,000 | 253,362 | ||||||
0.951%, VAR ICE LIBOR USD 3 Month+0.810%, 05/26/22 | 250,000 | 251,533 | ||||||
Discover Financial Services | ||||||||
3.950%, 11/06/24 | 620,000 | 676,690 | ||||||
E*TRADE Financial | ||||||||
2.950%, 08/24/22 | 725,000 | 744,381 | ||||||
First Horizon National | ||||||||
3.550%, 05/26/23 | 540,000 | 567,041 | ||||||
First Republic Bank | ||||||||
1.912%, VAR United States Secured Overnight Financing Rate+0.620%, 02/12/24 | 850,000 | 867,622 | ||||||
Goldman Sachs Group | ||||||||
0.836%, VAR United States Secured Overnight Financing Rate+0.790%, 12/09/26 | 570,000 | 569,650 | ||||||
0.627%, VAR United States Secured Overnight Financing Rate+0.538%, 11/17/23 | 600,000 | 600,182 | ||||||
KeyBank | ||||||||
1.250%, 03/10/23 | 550,000 | 558,219 | ||||||
Main Street Capital | ||||||||
5.200%, 05/01/24 | 620,000 | 675,279 | ||||||
Morgan Stanley MTN | ||||||||
4.100%, 05/22/23 | 760,000 | 808,753 | ||||||
National Bank of Canada MTN | ||||||||
0.550%, VAR US Treas Yield Curve Rate T Note Const Mat 1 Yr+0.400%, 11/15/24 | 1,225,000 | 1,223,008 | ||||||
New York Life Global Funding | ||||||||
1.100%, 05/05/23(A) | 415,000 | 421,246 | ||||||
People’s United Financial | ||||||||
3.650%, 12/06/22 | 470,000 | 486,142 | ||||||
PNC Financial Services Group | ||||||||
3.800%, VAR ICE LIBOR USD 3 Month+3.678%(C) | 420,000 | 420,916 | ||||||
Royal Bank of Canada MTN | ||||||||
0.798%, VAR ICE LIBOR USD 3 Month+0.660%, 10/05/23 | 500,000 | 505,748 | ||||||
0.500%, 10/26/23 | 655,000 | 656,524 | ||||||
Santander Holdings USA | ||||||||
3.500%, 06/07/24 | 320,000 | 342,506 | ||||||
3.400%, 01/18/23 | 510,000 | 530,443 |
CORPORATE OBLIGATIONS — continued |
| |||||||
Face Amount | Value | |||||||
FINANCIALS — continued | ||||||||
Synchrony Financial | ||||||||
4.375%, 03/19/24 | $ | 620,000 | $ | 675,113 | ||||
Synovus Bank | ||||||||
2.289%, VAR United States Secured Overnight Financing Rate+0.945%, 02/10/23 | 500,000 | 503,572 | ||||||
Synovus Financial | ||||||||
3.125%, 11/01/22 | 250,000 | 256,847 | ||||||
Toyota Motor Credit MTN | ||||||||
0.500%, 08/14/23 | 500,000 | 501,963 | ||||||
Trinity Acquisition | ||||||||
4.625%, 08/15/23 | 117,000 | 126,234 | ||||||
Truist Bank | ||||||||
2.800%, 05/17/22 | 500,000 | 509,354 | ||||||
Wells Fargo MTN | ||||||||
0.805%, VAR United States Secured Overnight Financing Rate+0.510%, 05/19/25 | 650,000 | 651,213 | ||||||
Zions Bancorp | ||||||||
3.500%, 08/27/21 | 750,000 | 751,553 | ||||||
|
| |||||||
25,903,683 | ||||||||
|
| |||||||
INDUSTRIALS — 6.7% | ||||||||
AerCap Ireland Capital DAC | ||||||||
4.875%, 01/16/24 | 270,000 | 293,691 | ||||||
Air Lease MTN | ||||||||
0.700%, 02/15/24 | 615,000 | 613,261 | ||||||
American Airlines Pass-Through Trust, Ser 2015-1 | ||||||||
3.700%, 05/01/23 | 314,833 | 308,703 | ||||||
CNH Industrial Capital | ||||||||
4.200%, 01/15/24 | 475,000 | 513,749 | ||||||
Cytec Industries | ||||||||
3.500%, 04/01/23 | 500,000 | 518,304 | ||||||
Delta Air Lines | ||||||||
4.500%, 10/20/25(A) | 595,000 | 639,625 | ||||||
3.625%, 03/15/22 | 500,000 | 503,744 | ||||||
Georgia-Pacific | ||||||||
0.625%, 05/15/24(A) | 600,000 | 601,535 | ||||||
Johnson Controls International | ||||||||
3.625%, 07/02/24 | 560,000 | 602,662 | ||||||
Lennox International | ||||||||
3.000%, 11/15/23 | 600,000 | 628,699 | ||||||
Penske Truck Leasing Lp | ||||||||
4.125%, 08/01/23(A) | 495,000 | 525,849 | ||||||
Pentair Finance Sarl | ||||||||
3.150%, 09/15/22 | 830,000 | 844,482 | ||||||
Roper Technologies | ||||||||
2.350%, 09/15/24 | 650,000 | 679,785 | ||||||
Ryder System MTN | ||||||||
2.875%, 06/01/22 | 730,000 | 744,303 | ||||||
Teledyne Technologies | ||||||||
0.950%, 04/01/24 | 615,000 | 615,601 |
2
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LIMITED DURATION FUND JULY 31, 2021 (Unaudited) |
CORPORATE OBLIGATIONS — continued |
| |||||||
Face Amount | Value | |||||||
INDUSTRIALS — continued | ||||||||
Westinghouse Air Brake Technologies | ||||||||
4.400%, 03/15/24 | $ | 480,000 | $ | 519,986 | ||||
|
| |||||||
9,153,979 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY — 3.0% |
| |||||||
Apple | ||||||||
0.750%, 05/11/23 | 440,000 | 443,797 | ||||||
Broadcom | ||||||||
3.625%, 10/15/24 | 575,000 | 623,494 | ||||||
Fidelity National Information Services | ||||||||
0.600%, 03/01/24 | 620,000 | 619,564 | ||||||
Hewlett Packard Enterprise | ||||||||
4.650%, 10/01/24 | 600,000 | 665,572 | ||||||
Infor | ||||||||
1.450%, 07/15/23(A) | 540,000 | 546,586 | ||||||
Microchip Technology | ||||||||
0.983%, 09/01/24(A) | 400,000 | 399,452 | ||||||
0.972%, 02/15/24(A) | 590,000 | 591,109 | ||||||
VMware | ||||||||
0.600%, 08/15/23 | 165,000 | 165,293 | ||||||
|
| |||||||
4,054,867 | ||||||||
|
| |||||||
MATERIALS — 4.2% | ||||||||
Albemarle | ||||||||
4.150%, 12/01/24 | 600,000 | 657,834 | ||||||
Anglo American Capital | ||||||||
3.625%, 09/11/24(A) | 595,000 | 643,483 | ||||||
Berry Global | ||||||||
0.950%, 02/15/24(A) | 600,000 | 600,750 | ||||||
Celanese US Holdings | ||||||||
3.500%, 05/08/24 | 815,000 | 871,528 | ||||||
International Flavors & Fragrances | ||||||||
0.697%, 09/15/22(A) | 590,000 | 590,898 | ||||||
Martin Marietta Materials | ||||||||
0.650%, 07/15/23 | 550,000 | 551,069 | ||||||
Mosaic | ||||||||
4.250%, 11/15/23 | 640,000 | 686,436 | ||||||
NewMarket | ||||||||
4.100%, 12/15/22 | 480,000 | 502,385 | ||||||
Steel Dynamics | ||||||||
2.800%, 12/15/24 | 615,000 | 649,820 | ||||||
|
| |||||||
5,754,203 | ||||||||
|
| |||||||
REAL ESTATE — 2.6% | ||||||||
American Tower | ||||||||
0.600%, 01/15/24 | 925,000 | 923,959 | ||||||
CC Holdings GS V | ||||||||
3.849%, 04/15/23 | 530,000 | 560,156 | ||||||
Jones Lang LaSalle | ||||||||
4.400%, 11/15/22 | 450,000 | 467,120 | ||||||
Kimco Realty | ||||||||
3.125%, 06/01/23 | 192,000 | 200,120 |
CORPORATE OBLIGATIONS — continued |
| |||||||
Face Amount | Value | |||||||
REAL ESTATE — continued | ||||||||
Rayonier | ||||||||
3.750%, 04/01/22 | $ | 820,000 | $ | 830,163 | ||||
Vornado Realty | ||||||||
3.500%, 01/15/25 | 575,000 | 613,963 | ||||||
|
| |||||||
3,595,481 | ||||||||
|
| |||||||
UTILITIES — 4.4% | ||||||||
Alliant Energy Finance | ||||||||
3.750%, 06/15/23(A) | 500,000 | 527,810 | ||||||
CenterPoint Energy Resources | ||||||||
0.700%, 03/02/23 | 605,000 | 605,171 | ||||||
Dominion Energy | ||||||||
3.071%, 08/15/24 | 565,000 | 601,257 | ||||||
Duquesne Light Holdings | ||||||||
5.900%, 12/01/21(A) | 254,000 | 258,644 | ||||||
Emera US Finance | ||||||||
0.833%, 06/15/24(A) | 975,000 | 972,357 | ||||||
Evergy | ||||||||
5.292%, 06/15/22 | 450,000 | 463,356 | ||||||
Exelon | ||||||||
3.497%, 06/01/22 | 720,000 | 736,904 | ||||||
FirstEnergy | ||||||||
4.750%, 03/15/23 | 510,000 | 536,775 | ||||||
Southern | ||||||||
0.600%, 02/26/24 | 620,000 | 621,582 | ||||||
WEC Energy Group | ||||||||
0.800%, 03/15/24 | 630,000 | 633,455 | ||||||
|
| |||||||
5,957,311 | ||||||||
|
| |||||||
Total Corporate Obligations | 73,162,405 | |||||||
|
| |||||||
U.S. TREASURY OBLIGATIONS — 25.6% |
| |||||||
Face Amount | Value | |||||||
U.S. Treasury Notes | ||||||||
1.750%, 03/31/22 | 1,200,000 | 1,213,359 | ||||||
1.750%, 07/15/22 | 2,750,000 | 2,793,721 | ||||||
0.125%, 05/15/23 | 13,150,000 | 13,142,295 | ||||||
0.125%, 07/15/23 | 3,000,000 | 2,997,070 | ||||||
0.125%, 01/15/24 | 15,000,000 | 14,951,367 | ||||||
|
| |||||||
Total U.S. Treasury Obligations | 35,097,812 | |||||||
|
| |||||||
ASSET-BACKED SECURITIES — 14.0% |
| |||||||
Face Amount | Value | |||||||
Affirm Asset Securitization Trust, Ser 2021-A, Cl A | ||||||||
0.880%, 08/15/25 (A) | 600,000 | 601,327 | ||||||
Amur Equipment Finance Receivables VII, Ser 2019-1A, Cl A2 | ||||||||
2.630%, 06/20/24 (A) | 262,218 | 265,991 |
3
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LIMITED DURATION FUND JULY 31, 2021 (Unaudited) |
ASSET-BACKED SECURITIES — continued |
| |||||||
Face Amount | Value | |||||||
Benefit Street Partners CLO II, | ||||||||
Ser 2021-IIA, Cl A2R2 1.576%, VAR ICE LIBOR USD 3 Month+1.450%, 07/15/29 (A) | $ | 600,000 | $ | 599,698 | ||||
Blackrock Rainier CLO, Ser 2021-9A, Cl A1 | ||||||||
1.506%, 09/22/31 (A)(E) | 1,025,000 | 1,025,000 | ||||||
Capital Automotive, Ser 2014-1A, Cl A | ||||||||
3.660%, 10/15/44 (A) | 146,183 | 146,318 | ||||||
Carvana Auto Receivables Trust, Ser 2019-3A, Cl B | ||||||||
2.510%, 04/15/24 (A) | 998,281 | 1,005,818 | ||||||
CoreVest American Finance Trust, Ser 2017-1, Cl D | ||||||||
4.358%, 10/15/49 (A) | 258,000 | 262,393 | ||||||
Drug Royalty III, Ser 2018-1A, Cl A2 | ||||||||
4.270%, 10/15/31 (A) | 235,415 | 241,472 | ||||||
Encina Equipment Finance, Ser 2021-1A, Cl B | ||||||||
1.210%, 02/16/27 (A) | 810,000 | 811,169 | ||||||
FOCUS Brands Funding, | ||||||||
3.857%, 04/30/47 (A) | 668,260 | 685,023 | ||||||
Ford Credit Auto Owner Trust, Ser 2021-A, Cl C | ||||||||
0.830%, 08/15/28 | 400,000 | 399,980 | ||||||
Ford Credit Floorplan Master Owner Trust A, Ser 2017-3, Cl B | ||||||||
2.650%, 09/15/24 | 330,000 | 338,266 | ||||||
GM Financial Automobile Leasing Trust, Ser 2020-2, Cl B | ||||||||
1.560%, 07/22/24 | 380,000 | 386,477 | ||||||
Halcyon Loan Advisors Funding, Ser 2018-2A, Cl AR | ||||||||
1.205%, VAR ICE LIBOR USD 3 Month+1.080%, 07/25/27 (A) | 45,232 | 45,240 | ||||||
Invitation Homes, Ser 2018-SFR2, Cl A | ||||||||
0.993%, VAR ICE LIBOR USD 1 Month+0.900%, 06/17/37 (A) | 42,671 | 42,753 | ||||||
Invitation Homes, Ser 2018-SFR3, Cl A | ||||||||
1.089%, VAR ICE LIBOR USD 1 Month+1.000%, 07/17/37 (A) | 610,077 | 611,218 | ||||||
Magnetite XVIII, Ser 2018-18A, Cl AR | ||||||||
1.236%, VAR ICE LIBOR USD 3 Month+1.080%, 11/15/28 (A) | 520,000 | 520,155 |
ASSET-BACKED SECURITIES — continued |
| |||||||
Face Amount | Value | |||||||
Marlette Funding Trust, Ser 2021-1A, Cl B | ||||||||
1.000%, 06/16/31 (A) | $ | 810,000 | $ | 812,331 | ||||
Master Credit Card Trust II, Ser 2018-1A, Cl C | ||||||||
3.737%, 07/21/24 (A) | 675,000 | 700,842 | ||||||
Mercury Financial Credit Card Master Trust, Ser 2021-1A, Cl A | ||||||||
1.540%, 03/20/26 (A) | 806,000 | 809,281 | ||||||
MMAF Equipment Finance, Ser 2017-AA, Cl A5 | ||||||||
2.680%, 07/16/27 (A) | 230,000 | 234,803 | ||||||
MONROE CAPITAL BSL CLO, Ser 2017-1A, Cl CR | ||||||||
2.600%, VAR ICE LIBOR USD 3 Month+2.450%, 05/22/27 (A) | 615,000 | 614,409 | ||||||
MVW, Ser 2021-1WA, Cl B | ||||||||
1.440%, 01/22/41 (A) | 775,252 | 776,855 | ||||||
NADG NNN Operating, Ser 2019-1, Cl A | ||||||||
3.368%, 12/28/49 (A) | 1,111,133 | 1,145,959 | ||||||
Nassau, Ser 2017-IIA, Cl AF | ||||||||
3.380%, 01/15/30 (A) | 535,000 | 535,002 | ||||||
New Residential Mortgage, | ||||||||
3.790%, 07/25/54 (A) | 331,294 | 331,510 | ||||||
RIN II, Ser 2019-1A, Cl A | ||||||||
1.778%, VAR ICE LIBOR USD 3 Month+1.650%, 09/10/30 (A) | 620,000 | 620,206 | ||||||
Santander Retail Auto Lease Trust, Ser 2021-B, Cl C | ||||||||
1.100%, 06/20/25 (A) | 820,000 | 823,117 | ||||||
SCF Equipment Leasing, Ser 2019-1A, Cl B | ||||||||
3.490%, 01/20/26 (A) | 487,428 | 487,965 | ||||||
Sierra Timeshare Receivables Funding, Ser 2016-3A, Cl A | ||||||||
2.430%, 10/20/33 (A) | 109,332 | 109,772 | ||||||
Towd Point Mortgage Trust, Ser 2019-MH1, Cl A1 | ||||||||
3.000%, 11/25/58 (A)(D) | 264,271 | 268,484 | ||||||
VCP CLO II, Ser 2021-2A, Cl A1 | ||||||||
1.796%, VAR ICE LIBOR USD 3 Month+1.670%, 04/15/31 (A) | 750,000 | 749,810 | ||||||
Verizon Master Trust, Ser 2021-1, Cl C | ||||||||
0.890%, 05/20/27 | 650,000 | 652,453 | ||||||
Verizon Owner Trust, Ser 2020-A, Cl A1A | ||||||||
1.850%, 07/22/24 | 635,000 | 645,203 |
4
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LIMITED DURATION FUND JULY 31, 2021 (Unaudited) |
ASSET-BACKED SECURITIES — continued |
| |||||||
Face Amount | Value | |||||||
Wellfleet CLO, Ser 2018-2A, Cl A1R | ||||||||
1.274%, VAR ICE LIBOR USD 3 Month+1.140%, 10/20/28 (A) | $ | 432,372 | $ | 432,263 | ||||
Zais CLO 8, Ser 2018-1A, Cl A | ||||||||
1.076%, VAR ICE LIBOR USD 3 Month+0.950%, 04/15/29 (A) | 440,676 | 440,219 | ||||||
|
| |||||||
Total Asset-Backed Securities | 19,178,782 | |||||||
|
| |||||||
MORTGAGE-BACKED SECURITIES — 5.0% |
| |||||||
Face Amount | Value | |||||||
BPR Trust, Ser 2021-KEN, Cl B | ||||||||
2.043%, VAR ICE LIBOR USD 1 Month+1.950%, 02/15/29 (A) | 805,000 | 805,404 | ||||||
BX Commercial Mortgage Trust, Ser 2020-VKNG, Cl C | ||||||||
1.493%, VAR ICE LIBOR USD 1 Month+1.400%, 10/15/37 (A) | 840,000 | 840,000 | ||||||
CFCRE Commercial Mortgage Trust, Ser 2011-C2, Cl B | ||||||||
5.776%, 12/15/47 (A)(D) | 220,000 | 221,095 | ||||||
Citigroup Commercial Mortgage Trust, Ser 2017-P8, Cl A1 | ||||||||
2.065%, 09/15/50 | 165,808 | 166,725 | ||||||
Cold Storage Trust, Ser 2020-ICE5, Cl C | ||||||||
1.743%, VAR ICE LIBOR USD 1 Month+1.650%, 11/15/37 (A) | 909,266 | 914,112 | ||||||
COLT Mortgage Loan Trust, | ||||||||
2.488%, 02/25/50 (A)(D) | 291,287 | 292,561 | ||||||
COLT Mortgage Loan Trust, | ||||||||
1.106%, 07/27/54 (A) | 379,745 | 379,087 | ||||||
COMM Mortgage Trust, | ||||||||
3.053%, 05/15/45 | 32,735 | 32,931 | ||||||
COMM Mortgage Trust, | ||||||||
3.795%, 08/10/46 | 403,478 | 417,191 | ||||||
FHLMC STACR REMIC Trust, | ||||||||
3.089%, VAR ICE LIBOR USD 1 Month+3.000%, 06/25/50 (A) | 258,267 | 259,572 | ||||||
FREMF Mortgage Trust, | ||||||||
3.395%, 07/25/22 (A)(D) | 510,000 | 521,567 |
MORTGAGE-BACKED SECURITIES — continued |
| |||||||
Face Amount | Value | |||||||
JP Morgan Mortgage Trust, | ||||||||
2.393%, 07/25/44 (A)(D) | $ | 77,058 | $ | 80,002 | ||||
JP Morgan Mortgage Trust, | ||||||||
2.456%, 06/25/46 (A)(D) | 128,564 | 129,121 | ||||||
JP Morgan Mortgage Trust, | ||||||||
2.511%, 12/25/46 (A)(D) | 222,843 | 225,656 | ||||||
Merit, Ser 2020-HILL, Cl C 1.794%, VAR ICE LIBOR USD | ||||||||
1 Month+1.700%, 08/15/37 (A) | 880,000 | 884,139 | ||||||
Sequoia Mortgage Trust, | ||||||||
3.467%, 04/25/43 (D) | 150,431 | 152,767 | ||||||
Verus Securitization Trust, | ||||||||
1.052%, 01/25/66 (A)(D) | 473,289 | 472,864 | ||||||
|
| |||||||
Total Mortgage-Backed Securities | 6,794,794 | |||||||
|
| |||||||
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 0.0% |
| |||||||
Face Amount | Value | |||||||
FHLMC | ||||||||
6.000%, 01/01/37 | 936 | 1,052 | ||||||
6.000%, 11/01/37 | 1,101 | 1,251 | ||||||
5.500%, 07/01/34 | 2,991 | 3,385 | ||||||
4.000%, 03/01/39 | 4,119 | 4,517 | ||||||
FHLMC, Ser 2004-2746, Cl BG | ||||||||
5.000%, 02/15/24 | 21,756 | 22,619 | ||||||
FNMA | ||||||||
6.000%, 05/01/36 | 366 | 434 | ||||||
6.000%, 08/01/36 | 492 | 574 | ||||||
6.000%, 11/01/37 | 1,127 | 1,271 | ||||||
5.500%, 07/01/38 | 2,850 | 3,272 | ||||||
GNMA | ||||||||
6.000%, 03/15/32 | 989 | 1,167 | ||||||
6.000%, 09/15/33 | 5,933 | 7,030 | ||||||
6.000%, 09/15/37 | 2,098 | 2,496 | ||||||
5.500%, 06/15/38 | 2,150 | 2,441 | ||||||
5.000%, 06/15/33 | 1,365 | 1,561 | ||||||
|
| |||||||
Total U.S. Government Agency Mortgage-Backed Obligations | 53,070 | |||||||
|
| |||||||
Total Investments in Securities— 98.0% |
| $ | 134,286,863 | |||||
|
|
Percentages are based on Net Assets of $137,091,615.
(A) | Securities sold within the terms of a private placement memorandum, exempt from registration under section 144A of the Securities Act of 1933, as amended, and maybe sold only to dealers in the program or other “accredited investors”. The total value of these securities at July 31, 2021 was $38,239,673 and represented 27.9% of Net Assets. |
5
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LIMITED DURATION FUND JULY 31, 2021 (Unaudited) |
(B) | Level 3 security in accordance with fair value hierarchy. |
(C) | Perpetual security with no stated maturity date. |
(D) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. |
(E) | Zero coupon security. The rate shown on the Schedule of Investments is the security’s effective yield at the time of purchase. |
Cl — Class
CLO — Collateralized Loan Obligation
FHLMC — Federal Home Loan Mortgage Corporation
FNMA — Federal National Mortgage Association
FREMF — Freddie Mac Multi-Family
GNMA — Government National Mortgage Association
ICE — Intercontinental Exchange
LIBOR — London Interbank Offered Rate
Lp — Limited Partnership
MTN — Medium Term Note
REMIC — Real Estate Mortgage Investment Conduit
Ser — Series
USD — U.S. Dollar
VAR— Variable Rate
The following is a list of the inputs used as of July 31, 2021, in valuing the Fund’s investments carried at market value:
Investments in Securities | Level 1 | Level 2 | Level 3(1) | Total | ||||||||||||
Corporate Obligations | $ | — | $ | 72,519,549 | $ | 642,856 | $ | 73,162,405 | ||||||||
U.S. Treasury Obligations | — | 35,097,812 | — | 35,097,812 | ||||||||||||
Asset-Backed Securities | — | 19,178,782 | — | 19,178,782 | ||||||||||||
Mortgage-Backed Securities | — | 6,794,794 | — | 6,794,794 | ||||||||||||
U.S. Government Agency Mortgage-Backed Obligations | — | 53,070 | — | 53,070 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | — | $ | 133,644,007 | $ | 642,856 | $ | 134,286,863 | ||||||||
|
|
|
|
|
|
|
|
(1)A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.
For the period ended July 31, 2021, there were no transfers in or out of Level 3.
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent financial statements.
KOC-QH-002-1300
6
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS CORE BOND FUND JULY 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS |
| |||||||
CORPORATE OBLIGATIONS — 44.0% |
| |||||||
Face Amount | Value | |||||||
COMMUNICATION SERVICES — 2.7% |
| |||||||
AT&T | ||||||||
3.900%, 03/11/24 | $ | 480,000 | $ | 516,591 | ||||
Comcast | ||||||||
4.600%, 10/15/38 | 400,000 | 503,371 | ||||||
2.650%, 02/01/30 | 240,000 | 255,023 | ||||||
Crown Castle Towers | ||||||||
4.241%, 07/15/28(A) | 400,000 | 453,815 | ||||||
Discovery Communications | ||||||||
4.125%, 05/15/29 | 635,000 | 721,770 | ||||||
NBN MTN | ||||||||
2.625%, 05/05/31(A) | 600,000 | 623,173 | ||||||
Verizon Communications | ||||||||
3.875%, 02/08/29 | 480,000 | 550,570 | ||||||
|
| |||||||
3,624,313 | ||||||||
|
| |||||||
CONSUMER DISCRETIONARY — 2.7% |
| |||||||
7-Eleven | ||||||||
2.800%, 02/10/51(A) | 1,160,000 | 1,114,425 | ||||||
General Motors Financial | ||||||||
4.000%, 10/06/26 | 550,000 | 610,205 | ||||||
Mars | ||||||||
2.375%, 07/16/40(A) | 540,000 | 527,590 | ||||||
Tiffany | ||||||||
4.900%, 10/01/44 | 904,000 | 1,262,997 | ||||||
|
| |||||||
3,515,217 | ||||||||
|
| |||||||
CONSUMER STAPLES — 2.3% |
| |||||||
Anheuser-Busch InBev Worldwide | ||||||||
4.750%, 01/23/29 | 300,000 | 360,858 | ||||||
Bacardi | ||||||||
5.150%, 05/15/38(A) | 520,000 | 660,379 | ||||||
Bunge Finance | ||||||||
3.250%, 08/15/26 | 250,000 | 272,167 | ||||||
1.630%, 08/17/25 | 250,000 | 254,485 | ||||||
Conagra Brands | ||||||||
4.600%, 11/01/25 | 615,000 | 699,344 | ||||||
Mondelez International | ||||||||
1.500%, 02/04/31 | 535,000 | 514,230 | ||||||
Nestle Holdings | ||||||||
1.000%, 09/15/27(A) | 210,000 | 206,887 | ||||||
|
| |||||||
2,968,350 | ||||||||
|
| |||||||
ENERGY — 3.4% |
| |||||||
Boardwalk Pipelines | ||||||||
4.800%, 05/03/29 | 630,000 | 735,776 | ||||||
Chevron USA | ||||||||
8.000%, 04/01/27 | 250,000 | 340,511 | ||||||
Eastern Gas Transmission & Storage | ||||||||
3.000%, 11/15/29(A) | 560,000 | 602,800 | ||||||
Energy Transfer Operating | ||||||||
2.900%, 05/15/25 | 565,000 | 595,974 |
CORPORATE OBLIGATIONS — continued |
| |||||||
Face Amount | Value | |||||||
ENERGY — continued |
| |||||||
Gray Oak Pipeline | ||||||||
2.000%, 09/15/23(A) | $ | 515,000 | $ | 525,595 | ||||
MarkWest Energy Partners | ||||||||
4.875%, 06/01/25 | 375,000 | 413,956 | ||||||
Occidental Petroleum | ||||||||
3.500%, 08/15/29 | 475,000 | 473,812 | ||||||
Rockies Express Pipeline | ||||||||
3.600%, 05/15/25(A) | 480,000 | 490,104 | ||||||
Western Midstream Operating | ||||||||
4.000%, 07/01/22 | 335,000 | 338,822 | ||||||
|
| |||||||
4,517,350 | ||||||||
|
| |||||||
FINANCIALS — 17.3% |
| |||||||
Ally Financial | ||||||||
3.875%, 05/21/24 | 625,000 | 675,817 | ||||||
Ansett Worldwide Aviation Services Leasing | ||||||||
4.870%, 10/03/21(A)(B) | 498,595 | 501,866 | ||||||
Ares Capital | ||||||||
4.250%, 03/01/25 | 570,000 | 617,764 | ||||||
Ares Finance II | ||||||||
3.250%, 06/15/30(A) | 645,000 | 683,495 | ||||||
Bain Capital Specialty Finance | ||||||||
2.950%, 03/10/26 | 600,000 | 618,813 | ||||||
Bank of America | ||||||||
5.875%, VAR ICE LIBOR USD 3 Month+2.931%(C) | 705,000 | 809,869 | ||||||
Bank of Montreal | ||||||||
3.803%, VAR USD Swap Semi 30/360 5 Yr Curr+1.432%, 12/15/32 | 680,000 | 756,629 | ||||||
BBVA USA | ||||||||
3.875%, 04/10/25 | 800,000 | 886,281 | ||||||
BlackRock TCP Capital | ||||||||
3.900%, 08/23/24 | 55,000 | 58,516 | ||||||
Brookfield Finance | ||||||||
4.250%, 06/02/26 | 495,000 | 560,772 | ||||||
Business Development Corp of America | ||||||||
3.250%, 03/30/26(A) | 587,000 | 598,701 | ||||||
Carlyle Finance Subsidiary | ||||||||
3.500%, 09/19/29(A) | 400,000 | 436,649 | ||||||
Charles Schwab | ||||||||
4.000%, VAR US Treas Yield Curve Rate T Note Const Mat 10 Yr+3.079%(C) | 560,000 | 583,072 | ||||||
CI Financial | ||||||||
3.200%, 12/17/30 | 840,000 | 872,894 | ||||||
CIT Group | ||||||||
4.750%, 02/16/24 | 655,000 | 705,762 |
1
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS CORE BOND FUND JULY 31, 2021 (Unaudited) |
CORPORATE OBLIGATIONS — continued |
| |||||||
Face Amount | Value | |||||||
FINANCIALS — continued |
| |||||||
Citigroup | ||||||||
3.875%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+3.417%(C) | $ | 585,000 | $ | 598,747 | ||||
Discover Bank | ||||||||
4.682%, VAR USD Swap Semi 30/360 5 Yr Curr+1.730%, 08/09/28 | 415,000 | 441,465 | ||||||
E*TRADE Financial | ||||||||
3.800%, 08/24/27 | 435,000 | 490,434 | ||||||
First Republic Bank | ||||||||
4.375%, 08/01/46 | 435,000 | 543,581 | ||||||
Goldman Sachs Group | ||||||||
0.836%, VAR United States Secured Overnight Financing Rate+0.790%, 12/09/26 | 520,000 | 519,681 | ||||||
Huntington Bancshares | ||||||||
5.700%, VAR ICE LIBOR USD 3 Month+2.880%(C) | 600,000 | 624,197 | ||||||
JPMorgan Chase | ||||||||
3.650%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+2.850%(C) | 660,000 | 666,187 | ||||||
Legg Mason | ||||||||
5.625%, 01/15/44 | 420,000 | 600,347 | ||||||
M&T Bank | ||||||||
6.450%, VAR ICE LIBOR USD 3 Month+3.610%(C) | 507,000 | 560,235 | ||||||
Main Street Capital | ||||||||
5.200%, 05/01/24 | 555,000 | 604,483 | ||||||
Neuberger Berman Group | ||||||||
4.500%, 03/15/27(A) | 370,000 | 427,324 | ||||||
Nuveen Finance | ||||||||
4.125%, 11/01/24(A) | 400,000 | 442,742 | ||||||
Owl Rock Capital | ||||||||
3.750%, 07/22/25 | 490,000 | 520,843 | ||||||
Owl Rock Technology Finance | ||||||||
3.750%, 06/17/26(A) | 555,000 | 590,867 | ||||||
Prospect Capital | ||||||||
6.375%, 01/15/24 | 200,000 | 217,361 | ||||||
5.875%, 03/15/23 | 380,000 | 403,927 | ||||||
Raymond James Financial | ||||||||
3.750%, 04/01/51 | 575,000 | 645,883 | ||||||
Santander Holdings USA | ||||||||
3.400%, 01/18/23 | 500,000 | 520,042 | ||||||
Sixth Street Specialty Lending | ||||||||
4.500%, 01/22/23 | 370,000 | 384,944 | ||||||
3.875%, 11/01/24 | 115,000 | 122,850 | ||||||
Stifel Financial | ||||||||
4.250%, 07/18/24 | 445,000 | 488,494 | ||||||
Synchrony Financial | ||||||||
4.250%, 08/15/24 | 600,000 | 655,073 |
CORPORATE OBLIGATIONS — continued |
| |||||||
Face Amount | Value | |||||||
FINANCIALS — continued |
| |||||||
Synovus Financial | ||||||||
5.900%, VAR USD Swap Semi 30/360 5 Yr Curr+3.379%, 02/07/29 | $ | 605,000 | $ | 655,556 | ||||
Texas Capital Bancshares | ||||||||
4.000%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+3.150%, 05/06/31 | 600,000 | 624,403 | ||||||
Truist Financial | ||||||||
5.050%, VAR ICE LIBOR USD 3 Month+3.102%(C) | 590,000 | 605,482 | ||||||
Willis North America | ||||||||
3.600%, 05/15/24 | 415,000 | 445,708 | ||||||
|
| |||||||
22,767,756 | ||||||||
|
| |||||||
INDUSTRIALS — 3.7% |
| |||||||
American Airlines Pass-Through Trust, | ||||||||
3.700%, 05/01/23 | 284,060 | 278,529 | ||||||
Aviation Capital Group | ||||||||
4.375%, 01/30/24(A) | 390,000 | 418,887 | ||||||
Delta Air Lines | ||||||||
4.500%, 10/20/25(A) | 540,000 | 580,500 | ||||||
2.900%, 10/28/24 | 455,000 | 461,155 | ||||||
Masco | ||||||||
6.500%, 08/15/32 | 317,000 | 428,097 | ||||||
Northern Group Housing | ||||||||
5.605%, 08/15/33(A) | 556,464 | 623,907 | ||||||
Parker-Hannifin | ||||||||
4.000%, 06/14/49 | 425,000 | 517,157 | ||||||
Roper Technologies | ||||||||
2.950%, 09/15/29 | 420,000 | 455,102 | ||||||
Teledyne Technologies | ||||||||
2.250%, 04/01/28 | 590,000 | 610,167 | ||||||
Westinghouse Air Brake Technologies | ||||||||
3.200%, 06/15/25 | 530,000 | 565,377 | ||||||
|
| |||||||
4,938,878 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY — 2.7% |
| |||||||
Infor | ||||||||
1.750%, 07/15/25(A) | 335,000 | 343,945 | ||||||
Microsoft | ||||||||
2.921%, 03/17/52 | 450,000 | 484,899 | ||||||
NXP BV | ||||||||
5.550%, 12/01/28(A) | 390,000 | 483,032 | ||||||
Oracle | ||||||||
2.875%, 03/25/31 | 600,000 | 634,840 | ||||||
VMware | ||||||||
1.800%, 08/15/28 | 975,000 | 978,062 | ||||||
Vontier | ||||||||
1.800%, 04/01/26(A) | 590,000 | 592,163 | ||||||
|
| |||||||
3,516,941 | ||||||||
|
|
2
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS CORE BOND FUND JULY 31, 2021 (Unaudited) |
CORPORATE OBLIGATIONS — continued |
| |||||||
Face Amount | Value | |||||||
MATERIALS — 3.1% | ||||||||
Anglo American Capital | ||||||||
4.500%, 03/15/28(A) | $ | 525,000 | $ | 605,304 | ||||
Berry Global | ||||||||
1.650%, 01/15/27(A) | 625,000 | 625,637 | ||||||
CF Industries | ||||||||
4.500%, 12/01/26(A) | 520,000 | 602,276 | ||||||
International Flavors & Fragrances | ||||||||
3.468%, 12/01/50(A) | 540,000 | 587,655 | ||||||
Silgan Holdings | ||||||||
1.400%, 04/01/26(A) | 585,000 | 582,075 | ||||||
Vulcan Materials | ||||||||
4.500%, 04/01/25 | 400,000 | 445,026 | ||||||
WRKCo | ||||||||
4.650%, 03/15/26 | 515,000 | 590,189 | ||||||
|
| |||||||
4,038,162 | ||||||||
|
| |||||||
REAL ESTATE — 2.1% | ||||||||
Public Storage | ||||||||
0.875%, 02/15/26 | 1,150,000 | 1,146,500 | ||||||
STORE Capital | ||||||||
4.500%, 03/15/28 | 380,000 | 435,901 | ||||||
UDR | ||||||||
3.000%, 08/15/31 | 560,000 | 601,248 | ||||||
Vornado Realty | ||||||||
3.500%, 01/15/25 | 565,000 | 603,285 | ||||||
|
| |||||||
2,786,934 | ||||||||
|
| |||||||
UTILITIES — 4.0% | ||||||||
DPL | ||||||||
4.350%, 04/15/29 | 425,000 | 465,868 | ||||||
Duquesne Light Holdings | ||||||||
2.532%, 10/01/30(A) | 540,000 | 543,715 | ||||||
Emera US Finance | ||||||||
4.750%, 06/15/46 | 410,000 | 497,219 | ||||||
IPALCO Enterprises | ||||||||
3.700%, 09/01/24 | 435,000 | 469,334 | ||||||
Jersey Central Power & Light | ||||||||
2.750%, 03/01/32(A) | 670,000 | 701,194 | ||||||
Monongahela Power | ||||||||
3.550%, 05/15/27(A) | 550,000 | 610,733 | ||||||
NextEra Energy Capital Holdings | ||||||||
1.900%, 06/15/28 | 1,230,000 | 1,255,849 | ||||||
NiSource | ||||||||
5.650%, VAR US Treas Yield | ||||||||
Curve Rate T Note Const Mat 5 Yr+2.843%(C) | 385,000 | 403,287 | ||||||
Spire | ||||||||
3.543%, 02/27/24 | 250,000 | 258,348 | ||||||
|
| |||||||
5,205,547 | ||||||||
|
| |||||||
Total Corporate Obligations | 57,879,448 | |||||||
|
|
U.S. TREASURY OBLIGATIONS — 18.7% |
| |||||||
Face Amount | Value | |||||||
U.S. Treasury Bonds | ||||||||
3.750%, 08/15/41 | $ | 2,500,000 | $ | 3,341,113 | ||||
3.000%, 05/15/45 | 1,725,000 | 2,101,198 | ||||||
2.250%, 08/15/46 | 4,100,000 | 4,393,406 | ||||||
1.250%, 05/15/50 | 1,850,000 | 1,574,740 | ||||||
U.S. Treasury Notes | ||||||||
2.250%, 08/15/27 | 3,270,000 | 3,538,370 | ||||||
1.875%, 01/31/22 | 2,000,000 | 2,017,813 | ||||||
1.375%, 01/31/22 | 1,650,000 | 1,660,571 | ||||||
0.625%, 05/15/30 | 2,500,000 | 2,386,133 | ||||||
0.250%, 05/15/24 | 2,250,000 | 2,245,957 | ||||||
0.250%, 09/30/25 | 1,400,000 | 1,381,078 | ||||||
|
| |||||||
Total U.S. Treasury Obligations | 24,640,379 | |||||||
|
| |||||||
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 12.2% |
| |||||||
Face Amount | Value | |||||||
FHLMC | ||||||||
4.500%, 12/01/48 | 237,976 | 257,928 | ||||||
4.000%, 02/01/47 | 414,086 | 446,553 | ||||||
4.000%, 11/01/47 | 415,059 | 446,598 | ||||||
4.000%, 11/01/48 | 164,932 | 176,256 | ||||||
3.500%, 11/01/44 | 349,203 | 376,617 | ||||||
3.500%, 04/01/46 | 235,177 | 252,869 | ||||||
3.500%, 07/01/47 | 513,406 | 546,933 | ||||||
3.500%, 12/01/48 | 313,960 | 333,736 | ||||||
3.000%, 02/01/45 | 357,176 | 378,270 | ||||||
3.000%, 08/01/45 | 177,299 | 187,380 | ||||||
3.000%, 02/01/48 | 223,770 | 235,148 | ||||||
3.000%, 04/01/50 | 850,043 | 892,517 | ||||||
2.500%, 02/01/30 | 236,264 | 248,673 | ||||||
2.000%, 08/01/50 | 1,351,159 | 1,378,751 | ||||||
FHLMC, Ser 2016-4563, Cl VB | ||||||||
3.000%, 05/15/39 | 500,000 | 510,338 | ||||||
FHLMC Structured Pass-Through Certificates, Ser 2003-54, Cl 4A | ||||||||
3.537%, 02/25/43(D) | 101,538 | 109,962 | ||||||
FNMA | ||||||||
4.500%, 02/01/41 | 511,426 | 568,570 | ||||||
4.500%, 03/01/48 | 442,666 | 478,599 | ||||||
4.000%, 03/01/35 | 145,775 | 157,447 | ||||||
4.000%, 01/01/42 | 396,603 | 437,342 | ||||||
4.000%, 05/01/49 | 456,673 | 489,954 | ||||||
3.500%, 02/01/47 | 366,204 | 394,653 | ||||||
3.500%, 12/01/47 | 213,474 | 227,410 | ||||||
3.500%, 08/01/48 | 219,430 | 232,946 | ||||||
3.500%, 03/01/49 | 417,806 | 452,201 | ||||||
3.500%, 06/01/49 | 655,125 | 716,642 | ||||||
3.000%, 10/01/48 | 410,397 | 418,303 | ||||||
3.000%, 02/01/50 | 575,539 | 604,841 | ||||||
2.500%, 12/01/49 | 504,197 | 525,594 | ||||||
2.500%, 09/01/50 | 939,877 | 979,990 | ||||||
2.000%, 10/01/50 | 1,056,238 | 1,077,807 | ||||||
2.000%, 02/01/51 | 775,056 | 790,901 |
3
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS CORE BOND FUND JULY 31, 2021 (Unaudited) |
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — continued |
| |||||||
Face Amount | Value | |||||||
GNMA | ||||||||
4.000%, 07/20/48 | $ | 185,536 | $ | 197,322 | ||||
3.500%, 06/20/48 | 499,374 | 529,773 | ||||||
|
| |||||||
Total U.S. Government Agency | 16,058,824 | |||||||
|
| |||||||
ASSET-BACKED SECURITIES — 11.2% |
| |||||||
Face Amount | Value | |||||||
American Homes 4 Rent Trust, | ||||||||
4.201%, 12/17/36 (A) | 285,000 | 304,234 | ||||||
Amur Equipment Finance Receivables IX, Ser 2021-1A, Cl C | ||||||||
1.750%, 06/21/27 (A) | 500,000 | 501,876 | ||||||
Benefit Street Partners CLO II, | ||||||||
1.576%, VAR ICE LIBOR USD 3 Month+1.450%, 07/15/29 (A) | 585,000 | 584,706 | ||||||
CARS-DB4, Ser 2020-1A, Cl A6 | ||||||||
3.810%, 02/15/50 (A) | 748,594 | 806,297 | ||||||
Cerberus Loan Funding XXVII, | ||||||||
3.500%, 01/15/32 (A) | 590,000 | 594,578 | ||||||
CF Hippolyta, Ser 2020-1, Cl A1 | ||||||||
1.690%, 07/15/60 (A) | 604,199 | 617,731 | ||||||
CoreVest American Finance Trust, | ||||||||
3.804%, 06/15/51 (A) | 174,509 | 181,146 | ||||||
ExteNet, Ser 2019-1A, Cl A2 | ||||||||
3.204%, 07/26/49 (A) | 720,000 | 742,625 | ||||||
Ford Credit Auto Owner Trust, | ||||||||
1.910%, 10/17/33 (A) | 495,000 | 500,563 | ||||||
Golub Capital Partners CLO XLVII, Ser 2020-47A, Cl A2B | ||||||||
3.008%, 05/05/32 (A) | 800,000 | 806,307 | ||||||
MONROE CAPITAL BSL CLO, | ||||||||
2.600%, VAR ICE LIBOR USD 3 Month+2.450%, 05/22/27 (A) | 590,000 | 589,433 | ||||||
New Residential Mortgage, | ||||||||
3.790%, 07/25/54 (A) | 291,782 | 291,972 | ||||||
Progress Residential Trust, | ||||||||
3.545%, 05/17/36 (A) | 769,000 | 780,964 | ||||||
RIN II, Ser 2019-1A, Cl A | ||||||||
1.778%, VAR ICE LIBOR USD 3 Month+1.650%, 09/10/30 (A) | 600,000 | 600,200 |
ASSET-BACKED SECURITIES — continued |
| |||||||
Face Amount | Value | |||||||
SBA Tower Trust, Ser 2014-2A, Cl C | ||||||||
3.869%, 10/15/49 (A) | $ | 850,000 | $ | 894,102 | ||||
SCF Equipment Leasing, | ||||||||
3.920%, 11/20/26 (A) | 575,000 | 576,697 | ||||||
Stack Infrastructure Issuer, | ||||||||
1.877%, 03/26/46 (A) | 655,000 | 663,010 | ||||||
Taco Bell Funding, Ser 2018-1A, Cl A2I | ||||||||
4.318%, 11/25/48 (A) | 390,000 | 390,800 | ||||||
Tricon American Homes Trust, | ||||||||
11/17/39 (A) | 800,000 | 808,441 | ||||||
Trinity Rail Leasing 2021, | ||||||||
2.260%, 07/19/51 (A) | 670,000 | 680,405 | ||||||
Vantage Data Centers, Ser 2019-1A, | ||||||||
3.188%, 07/15/44 (A) | 647,350 | 670,955 | ||||||
Vault DI Issuer, Ser 2021-1A, Cl A2 | ||||||||
2.804%, 07/15/46 (A) | 670,000 | 677,145 | ||||||
VCP CLO II, Ser 2021-2A, Cl B1 2.376%, VAR ICE LIBOR USD 3 Month+ | ||||||||
2.250%, 04/15/31 (A) | 650,000 | 649,671 | ||||||
Willis Engine Structured Trust V, | ||||||||
3.228%, 03/15/45 (A) | 736,858 | 744,983 | ||||||
|
| |||||||
Total Asset-Backed Securities | 14,658,841 | |||||||
|
| |||||||
MORTGAGE-BACKED SECURITIES — 6.5% |
| |||||||
Face Amount | Value | |||||||
Agate Bay Mortgage Trust, | ||||||||
3.843%, 07/25/44 (A)(D) | 273,984 | 276,248 | ||||||
BX Commercial Mortgage Trust, | ||||||||
1.343%, VAR ICE LIBOR USD 1 Month+1.250%, 10/15/36 (A) | 674,721 | 676,203 | ||||||
BX Commercial Mortgage Trust, | ||||||||
1.493%, VAR ICE LIBOR USD 1 Month+1.400%, 10/15/37 (A) | 315,000 | 315,000 | ||||||
Citigroup Commercial Mortgage Trust, Ser 2013-GC15, Cl A3 | ||||||||
4.095%, 09/10/46 | 220,166 | 233,883 | ||||||
CSMC Trust, Ser 2013-IVR3, Cl A2 | ||||||||
3.000%, 05/25/43 (A)(D) | 205,349 | 208,549 |
4
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS CORE BOND FUND JULY 31, 2021 (Unaudited) |
MORTGAGE-BACKED SECURITIES — continued |
| |||||||
Face Amount | Value | |||||||
CSMC Trust, Ser 2015-2, Cl A18 | ||||||||
3.500%, 02/25/45 (A)(D) | $ | 253,139 | $ | 257,791 | ||||
FHLMC STACR REMIC Trust, | ||||||||
3.089%, VAR ICE LIBOR USD 1 Month+3.000%, 06/25/50 (A) | 243,201 | 244,430 | ||||||
First Republic Mortgage Trust, | ||||||||
2.880%, 04/25/50 (A)(D) | 571,613 | 572,829 | ||||||
FREMF Mortgage Trust, | ||||||||
3.932%, 07/25/45 (A)(D) | 280,000 | 287,852 | ||||||
FREMF Mortgage Trust, | ||||||||
3.395%, 07/25/22 (A)(D) | 475,000 | 485,773 | ||||||
FREMF Mortgage Trust, | ||||||||
3.576%, 11/25/23 (A)(D) | 470,000 | 490,440 | ||||||
FREMF Mortgage Trust, | ||||||||
4.073%, 07/25/50 (A)(D) | 725,000 | 790,024 | ||||||
FREMF Mortgage Trust, | ||||||||
4.035%, 07/25/27 (A)(D) | 175,000 | 191,028 | ||||||
FREMF Mortgage Trust, | ||||||||
3.883%, 02/25/50 (A)(D) | 280,000 | 296,041 | ||||||
GMAC Commercial Mortgage Asset, Ser 2010-FTLS, Cl A | ||||||||
6.363%, 02/10/47 (A)(B) | 235,260 | 310,167 | ||||||
JPMBB Commercial Mortgage Securities Trust, Ser 2015-C31, Cl ASB | ||||||||
3.540%, 08/15/48 | 399,768 | 422,618 | ||||||
JPMorgan Mortgage Trust, | ||||||||
2.393%, 07/25/44 (A)(D) | 63,626 | 66,056 | ||||||
JPMorgan Mortgage Trust, | ||||||||
2.456%, 06/25/46 (A)(D) | 128,564 | 129,121 | ||||||
JPMorgan Mortgage Trust, | ||||||||
2.488%, 12/25/46 (A)(D) | 403,059 | 403,865 | ||||||
Merit, Ser 2020-HILL, Cl C | ||||||||
1.794%, VAR ICE LIBOR USD 1 Month+1.700%, 08/15/37 (A) | 795,000 | 798,739 | ||||||
Seasoned Credit Risk Transfer Trust, Ser 2018-4, Cl MV | ||||||||
3.500%, 03/25/58 | 719,296 | 800,633 | ||||||
Sequoia Mortgage Trust, | ||||||||
3.500%, 01/25/45 (A)(D) | 49,752 | 50,733 |
MORTGAGE-BACKED SECURITIES — continued |
| |||||||
Face Amount | Value | |||||||
Sequoia Mortgage Trust, Ser 2015-2, Cl A1 | ||||||||
3.500%, 05/25/45 (A)(D) | $ | 78,133 | $ | 79,665 | ||||
Sequoia Mortgage Trust, Ser 2015-4, Cl A1 | ||||||||
3.000%, 11/25/30 (A)(D) | 111,312 | 113,903 | ||||||
Sequoia Mortgage Trust, Ser 2018-2, Cl A4 | ||||||||
3.500%, 02/25/48 (A)(D) | 1 | 1 | ||||||
|
| |||||||
Total Mortgage-Backed Securities | 8,501,592 | |||||||
|
| |||||||
MUNICIPAL BONDS — 3.8% |
| |||||||
Face Amount | Value | |||||||
California State, City of Riverside, | ||||||||
3.857%, 06/01/45 | 780,000 | 857,255 | ||||||
Camp Pendleton & Quantico Housing, RB | ||||||||
6.165%, 10/01/50 (A) | 400,000 | 528,386 | ||||||
Denver City & County, Housing Authority, Ser 2021-B, RB | ||||||||
3.104%, 02/01/39 | 300,000 | 311,804 | ||||||
Grand Parkway Transportation, | ||||||||
3.216%, 10/01/49 | 640,000 | 660,911 | ||||||
Hawaii State, Department of Business Economic Development & Tourism, Ser A-2, RB | ||||||||
3.242%, 01/01/31 | 144,082 | 155,622 | ||||||
Massachusetts State, Housing Finance Agency, Ser B, RB | ||||||||
3.350%, 12/01/40 | 435,000 | 444,645 | ||||||
New York City, Housing Development, Ser D, RB | ||||||||
3.083%, 11/01/46 | 900,000 | 913,770 | ||||||
Rhode Island State, Housing and Mortgage Finance, Ser 1-T, RB | ||||||||
2.993%, 10/01/38 | 540,000 | 563,282 | ||||||
Virginia State, Housing Development Authority, Ser C, RB | ||||||||
2.829%, 04/01/41 | 500,000 | 510,314 | ||||||
|
| |||||||
Total Municipal Bonds | 4,945,989 | |||||||
|
| |||||||
PREFERRED STOCK — 0.4% |
| |||||||
Shares | Value | |||||||
FINANCIALS — 0.4% | ||||||||
Signature Bank NY, 5.000%(C) | 22,200 | 584,082 | ||||||
|
| |||||||
Total Preferred Stock (Cost $555,000) | 584,082 | |||||||
|
| |||||||
Total Investments in Securities— 96.8% (Cost $121,725,839) | $ | 127,269,155 | ||||||
|
|
5
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS CORE BOND FUND JULY 31, 2021 (Unaudited) |
Percentages are based on Net Assets of $131,414,434.
(A) | Securities sold within the terms of a private placement memorandum, exempt from registration under section 144A of the Securities Act of 1933, as amended, and maybe sold only to dealers in the program or other “accredited investors”. The total value of these securities at July 31, 2021 was $39,019,120 and represented 29.7% of Net Assets. |
(B) | Level 3 security in accordance with fair value hierarchy. |
(C) | Perpetual security with no stated maturity date. |
(D) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. |
Cl — Class
CLO — Collateralized Loan Obligation
FHLMC — Federal Home Loan Mortgage Corporation
FNMA — Federal National Mortgage Association
FREMF — Freddie Mac Multi-Family
GNMA — Government National Mortgage Association
ICE — Intercontinental Exchange
LIBOR — London Interbank Offered Rate
MTN — Medium Term Note
RB — Revenue Bond
Ser — Series
USD — U.S. Dollar
VAR— Variable Rate
The following is a list of the inputs used as of July 31, 2021, in valuing the Fund’s investments carried at market value:
Investments in Securities | Level 1 | Level 2 | Level 3(1) | Total | ||||||||||||
Corporate Obligations | $ | — | $ | 57,377,582 | $ | 501,866 | $ | 57,879,448 | ||||||||
U.S. Treasury Obligations | — | 24,640,379 | — | 24,640,379 | ||||||||||||
U.S. Government Agency Mortgage-Backed Obligations | — | 16,058,824 | — | 16,058,824 | ||||||||||||
Asset-Backed Securities | — | 14,658,841 | — | 14,658,841 | ||||||||||||
Mortgage-Backed Securities | — | 8,191,425 | 310,167 | 8,501,592 | ||||||||||||
Municipal Bonds | — | 4,945,989 | — | 4,945,989 | ||||||||||||
Preferred Stock | — | 584,082 | — | 584,082 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | — | $ | 126,457,122 | $ | 812,033 | $ | 127,269,155 | ||||||||
|
|
|
|
|
|
|
|
(1) | A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets. |
For the period ended July 31, 2021, there were no transfers in or out of Level 3.
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent financial statements.
KOC-QH-001-1300
6
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LONG/SHORT EQUITY FUND JULY 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS |
| |||||||
COMMON STOCK — 68.3% |
| |||||||
Shares | Value | |||||||
COMMUNICATION SERVICES — 4.8% |
| |||||||
Altice USA, Cl A *(A) | 7,442 | $ | 228,693 | |||||
Discovery, Cl A * | 5,632 | 163,384 | ||||||
DISH Network, Cl A * | 1,391 | 58,269 | ||||||
Electronic Arts | 699 | 100,628 | ||||||
Fox | 7,459 | 265,988 | ||||||
Interpublic Group of Companies | 11,851 | 419,051 | ||||||
Omnicom Group | 2,525 | 183,871 | ||||||
|
| |||||||
1,419,884 | ||||||||
|
| |||||||
CONSUMER DISCRETIONARY — 6.1% |
| |||||||
Best Buy | 3,333 | 374,463 | ||||||
eBay | 3,191 | 217,658 | ||||||
Ford Motor * | 7,557 | 105,420 | ||||||
Lowe’s | 1,049 | 202,132 | ||||||
Mohawk Industries * | 288 | 56,131 | ||||||
PulteGroup | 906 | 49,712 | ||||||
Target | 566 | 147,754 | ||||||
Tractor Supply | 263 | 47,585 | ||||||
Whirlpool | 1,883 | 417,160 | ||||||
Williams-Sonoma | 1,005 | 152,459 | ||||||
|
| |||||||
1,770,474 | ||||||||
|
| |||||||
CONSUMER STAPLES — 5.6% |
| |||||||
Altria Group (A) | 4,729 | 227,181 | ||||||
Campbell Soup | 5,006 | 218,862 | ||||||
Clorox | 1,303 | 235,700 | ||||||
Hershey | 1,301 | 232,723 | ||||||
Philip Morris International | 2,260 | 226,203 | ||||||
Sysco | 6,233 | 462,489 | ||||||
|
| |||||||
1,603,158 | ||||||||
|
| |||||||
ENERGY — 0.1% |
| |||||||
HollyFrontier | 1,314 | 38,632 | ||||||
|
| |||||||
FINANCIALS — 12.3% |
| |||||||
Allstate | 905 | 117,695 | ||||||
Ameriprise Financial (A) | 1,903 | 490,137 | ||||||
Bank of America | 8,508 | 326,367 | ||||||
Berkshire Hathaway, Cl B * | 2,390 | 665,113 | ||||||
Discover Financial Services | 2,399 | 298,244 | ||||||
Goldman Sachs Group | 354 | 132,708 | ||||||
JPMorgan Chase (A) | 3,039 | 461,259 | ||||||
M&T Bank (A) | 1,786 | 239,056 | ||||||
Morgan Stanley | 3,732 | 358,197 | ||||||
Synchrony Financial (A) | 10,400 | 489,008 | ||||||
|
| |||||||
3,577,784 | ||||||||
|
| |||||||
HEALTH CARE — 6.9% |
| |||||||
Amgen | 1,975 | 477,042 | ||||||
AstraZeneca PLC ADR | 2,502 | 143,239 | ||||||
Bristol-Myers Squibb | 769 | 52,192 | ||||||
DaVita*(A) | 4,142 | 498,075 | ||||||
Gilead Sciences | 1,737 | 118,620 | ||||||
Humana | 581 | 247,425 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
HEALTH CARE— continued |
| |||||||
Molina Healthcare *(A) | 1,847 | $ | 504,249 | |||||
|
| |||||||
2,040,842 | ||||||||
|
| |||||||
INDUSTRIALS — 6.4% |
| |||||||
AGCO | 871 | 115,068 | ||||||
Carrier Global (A) | 2,811 | 155,308 | ||||||
CNH Industrial (A) | 28,763 | 484,369 | ||||||
Cummins | 663 | 153,882 | ||||||
Deere | 1,377 | 497,909 | ||||||
Masco | 1,363 | 81,385 | ||||||
Owens Corning | 1,169 | 112,411 | ||||||
United Rentals * | 830 | 273,526 | ||||||
|
| |||||||
1,873,858 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY — 24.3% |
| |||||||
Akamai Technologies *(A) | 4,435 | 531,845 | ||||||
Apple | 6,134 | 894,705 | ||||||
Broadcom | 320 | 155,328 | ||||||
Cisco Systems (A) | 9,181 | 508,352 | ||||||
Dell Technologies, Cl C *(A) | 5,009 | 483,970 | ||||||
GoDaddy, Cl A * | 1,644 | 137,849 | ||||||
Intel | 8,954 | 481,009 | ||||||
KLA | 1,048 | 364,872 | ||||||
Maxim Integrated Products (A) | 3,074 | 307,123 | ||||||
Micron Technology | 1,291 | 100,156 | ||||||
Microsoft | 3,062 | 872,394 | ||||||
NetApp (A) | 6,582 | 523,861 | ||||||
Oracle (A) | 6,361 | 554,298 | ||||||
QUALCOMM | 304 | 45,539 | ||||||
Seagate Technology Holdings (A) | 5,157 | 453,300 | ||||||
Teradyne | 1,707 | 216,789 | ||||||
Xilinx | 3,022 | 452,816 | ||||||
|
| |||||||
7,084,206 | ||||||||
|
| |||||||
MATERIALS — 1.8% |
| |||||||
Celanese, Cl A | 935 | 145,645 | ||||||
LyondellBasell Industries, Cl A (A) | 3,169 | 314,777 | ||||||
Nucor | 556 | 57,835 | ||||||
|
| |||||||
518,257 | ||||||||
|
| |||||||
Total Common Stock | 19,927,095 | |||||||
|
| |||||||
Total Investments in Securities— 68.3% |
| $ | 19,927,095 | |||||
|
| |||||||
| ||||||||
SECURITIES SOLD SHORT |
| |||||||
COMMON STOCK — (26.4)% |
| |||||||
Shares | Value | |||||||
COMMUNICATION SERVICES — (3.2)% |
| |||||||
Liberty Broadband, Cl C * | (1,227 | ) | $ | (217,780 | ) | |||
Roku, Cl A * | (337 | ) | (144,340 | ) | ||||
Spotify Technology * | (1,449 | ) | (331,343 | ) | ||||
Warner Music Group, Cl A | (5,859 | ) | (221,412 | ) | ||||
|
| |||||||
(914,875 | ) | |||||||
|
|
1
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LONG/SHORT EQUITY FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
CONSUMER DISCRETIONARY — (4.3)% |
| |||||||
Bright Horizons Family Solutions * | (630 | ) | $ | (94,185 | ) | |||
Carvana, Cl A * | (1,500 | ) | (506,340 | ) | ||||
DraftKings, Cl A * | (1,982 | ) | (96,127 | ) | ||||
Las Vegas Sands * | (2,602 | ) | (110,195 | ) | ||||
Lululemon Athletica* | (952 | ) | (380,962 | ) | ||||
Tesla* | (113 | ) | (77,654 | ) | ||||
|
| |||||||
(1,265,463 | ) | |||||||
|
| |||||||
CONSUMER STAPLES — (0.2)% |
| |||||||
Beyond Meat * | (475 | ) | (58,282 | ) | ||||
|
| |||||||
ENERGY — (0.0)% |
| |||||||
ConocoPhillips | — | (13 | ) | |||||
|
| |||||||
HEALTH CARE — (5.3)% |
| |||||||
Alcon | (1,053 | ) | (76,658 | ) | ||||
Catalent* | (1,079 | ) | (129,275 | ) | ||||
Elanco Animal Health * | (7,725 | ) | (281,731 | ) | ||||
Oak Street Health * | (6,224 | ) | (392,361 | ) | ||||
Penumbra* | (1,035 | ) | (275,548 | ) | ||||
Teladoc Health * | (2,667 | ) | (395,916 | ) | ||||
|
| |||||||
(1,551,489 | ) | |||||||
|
| |||||||
INDUSTRIALS — (2.0)% |
| |||||||
Axon Enterprise * | (488 | ) | (90,778 | ) | ||||
Clarivate PLC * | (13,226 | ) | (301,553 | ) | ||||
Lyft, Cl A * | (1,975 | ) | (109,257 | ) | ||||
Uber Technologies * | (2,267 | ) | (98,524 | ) | ||||
|
| |||||||
(600,112 | ) | |||||||
|
| |||||||
INFORMATION TECHNOLOGY — (8.8)% |
| |||||||
Appian, Cl A * | (192 | ) | (22,355 | ) | ||||
Black Knight * | (3,129 | ) | (259,112 | ) | ||||
Coupa Software * | (1,065 | ) | (231,105 | ) | ||||
DocuSign, Cl A * | (1,524 | ) | (454,213 | ) | ||||
Fastly, Cl A * | (2,538 | ) | (122,002 | ) | ||||
RingCentral, Cl A * | (1,561 | ) | (417,208 | ) | ||||
salesforce.com* | (345 | ) | (83,466 | ) | ||||
Snowflake, Cl A * | (1,124 | ) | (298,669 | ) | ||||
Splunk* | (1,208 | ) | (171,512 | ) | ||||
Twilio, Cl A * | (677 | ) | (252,920 | ) | ||||
Wix.com* | (312 | ) | (93,176 | ) | ||||
Zoom Video Communications, Cl A * | (350 | ) | (132,335 | ) | ||||
|
| |||||||
(2,538,073 | ) | |||||||
|
| |||||||
UTILITIES — (2.6)% |
| |||||||
Alliant Energy | (4,684 | ) | (274,155 | ) | ||||
Avangrid | (3,997 | ) | (208,404 | ) | ||||
Essential Utilities | (5,870 | ) | (288,334 | ) | ||||
|
| |||||||
(770,893 | ) | |||||||
|
| |||||||
Total Common Stock |
| (7,699,200 | ) | |||||
|
| |||||||
EXCHANGE TRADED FUNDS — (17.4)% |
| |||||||
Shares | Value | |||||||
ARK Innovation ETF | (5,948 | ) | (713,760 | ) |
EXCHANGE TRADED FUNDS — continued |
| |||||||
Shares | Value | |||||||
iShares Russell 1000 ETF | (4,804 | ) | $ | (1,187,308 | ) | |||
iShares Russell 1000 Value ETF | (3,551 | ) | (568,053 | ) | ||||
iShares Russell 2000 ETF | (2,456 | ) | (542,899 | ) | ||||
iShares Semiconductor ETF | (1,981 | ) | (905,139 | ) | ||||
Vanguard S&P 500 ETF | (2,872 | ) | (1,157,847 | ) | ||||
|
| |||||||
Total Exchange Traded Funds | (5,075,006 | ) | ||||||
|
| |||||||
Total Securities Sold Short— (43.8)% |
| $ | (12,774,206 | ) | ||||
|
| |||||||
PURCHASED OPTIONS(B)* — 0.7% |
| |||||||
Contracts | Value | |||||||
Total Purchased Options | 318 | $ | 213,310 | |||||
|
|
2
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LONG/SHORT EQUITY FUND JULY 31, 2021 (Unaudited) |
A list of the open exchange traded options contracts held by the Fund at July 31, 2021 is as follows:
Description | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value | |||||||||||||||
PURCHASED OPTIONS — 0.7% | ||||||||||||||||||||
Put Options | ||||||||||||||||||||
iShares Russell 1000 Value ETF* | 133 | $ | 2,127,601 | $ | 145.00 | 01/22/22 | $ | 49,210 | ||||||||||||
iShares Russell 2000 ETF* | 76 | 1,257,344 | 200.00 | 01/22/22 | 55,100 | |||||||||||||||
|
|
|
| |||||||||||||||||
3,384,945 | 104,310 | |||||||||||||||||||
|
|
|
| |||||||||||||||||
Call Options | ||||||||||||||||||||
Energy Select Sector SPDR Fund* | 109 | 538,351 | 40.00 | 01/22/22 | 109,000 | |||||||||||||||
|
|
|
| |||||||||||||||||
TOTAL PURCHASED OPTIONS | $ | 3,923,296 | $ | 213,310 | ||||||||||||||||
|
|
|
|
Percentages are based on Net Assets of $29,168,340.
* | Non-income producing security. |
(A) | This security or a partial position of this security has been committed as collateral for securities sold short. |
(B) | Refer to table below for details on Options Contracts. |
ADR — American Depositary Receipt
Cl — Class
ETF— Exchange Traded Fund
PLC — Public Limited Company
S&P — Standard & Poor’s
The following is a list of the inputs used as of July 31, 2021, in valuing the Fund’s investments and other financial instruments carried at market value:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 19,927,095 | $ | — | $ | — | $ | 19,927,095 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | 19,927,095 | $ | — | $ | — | $ | 19,927,095 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Securities Sold Short | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | (7,699,200) | $ | — | $ | — | $ | (7,699,200) | ||||||||
Exchange Traded Funds | (5,075,006) | — | — | (5,075,006) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Securities Sold Short | $ | (12,774,206) | $ | — | $ | — | $ | (12,774,206) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Purchased Options | $ | 213,310 | $ | – | $ | – | $ | 213,310 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Other Financial Instruments | $ | 213,310 | $ | – | $ | – | $ | 213,310 | ||||||||
|
|
|
|
|
|
|
|
For the period ended July 31, 2021, there were no transfers in or out of Level 3.
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent financial statements.
KOC-QH-007-0400
3
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LARGE CAP VALUE FUND JULY 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS |
| |||||||
COMMON STOCK — 97.8% |
| |||||||
Shares | Value | |||||||
COMMUNICATION SERVICES — 6.1% |
| |||||||
Alphabet, Cl A * | 1,302 | $ | 3,508,278 | |||||
Electronic Arts | 11,567 | 1,665,185 | ||||||
Facebook, Cl A * | 5,498 | 1,958,937 | ||||||
|
| |||||||
7,132,400 | ||||||||
|
| |||||||
CONSUMER DISCRETIONARY — 8.2% |
| |||||||
Garmin | 14,039 | 2,206,931 | ||||||
General Motors * | 40,745 | 2,315,946 | ||||||
Lennar, Cl A | 18,766 | 1,973,245 | ||||||
Target | 11,843 | 3,091,615 | ||||||
|
| |||||||
9,587,737 | ||||||||
|
| |||||||
CONSUMER STAPLES — 5.9% |
| |||||||
Colgate-Palmolive | 17,123 | 1,361,279 | ||||||
Flowers Foods | 27,594 | 650,115 | ||||||
General Mills | 16,560 | 974,721 | ||||||
PepsiCo | 11,069 | 1,737,280 | ||||||
Procter & Gamble | 15,010 | 2,134,872 | ||||||
|
| |||||||
6,858,267 | ||||||||
|
| |||||||
ENERGY — 5.7% |
| |||||||
Canadian Natural Resources | 54,928 | 1,813,723 | ||||||
ConocoPhillips | 37,321 | 2,092,215 | ||||||
Exxon Mobil | 15,138 | 871,495 | ||||||
Pioneer Natural Resources | 8,318 | 1,209,188 | ||||||
Valero Energy | 10,575 | 708,208 | ||||||
|
| |||||||
6,694,829 | ||||||||
|
| |||||||
FINANCIALS — 22.1% |
| |||||||
Allstate | 15,161 | 1,971,688 | ||||||
Ameriprise Financial | 8,000 | 2,060,480 | ||||||
Berkshire Hathaway, Cl B * | 13,376 | 3,722,407 | ||||||
Carlyle Group | 27,211 | 1,373,339 | ||||||
Citigroup | 31,856 | 2,154,103 | ||||||
Citizens Financial Group | 36,579 | 1,542,171 | ||||||
Fifth Third Bancorp | 44,303 | 1,607,756 | ||||||
First Horizon National | 97,731 | 1,509,944 | ||||||
Hartford Financial Services Group | 32,572 | 2,072,231 | ||||||
JPMorgan Chase | 14,050 | 2,132,509 | ||||||
LPL Financial Holdings | 13,774 | 1,942,685 | ||||||
Prudential Financial | 17,205 | 1,725,317 | ||||||
Signature Bank NY | 7,520 | 1,706,814 | ||||||
|
| |||||||
25,521,444 | ||||||||
|
| |||||||
HEALTH CARE — 15.8% |
| |||||||
Abbott Laboratories | 19,632 | 2,375,079 | ||||||
Amedisys * | 6,984 | 1,820,170 | ||||||
Bristol-Myers Squibb | 34,275 | 2,326,244 | ||||||
DaVita * | 14,392 | 1,730,638 | ||||||
DENTSPLY SIRONA | 28,635 | 1,891,055 | ||||||
Exact Sciences * | 9,246 | 997,089 | ||||||
Hill-Rom Holdings | 16,052 | 2,222,560 | ||||||
Quest Diagnostics | 14,848 | 2,105,446 | ||||||
Regeneron Pharmaceuticals * | 2,141 | 1,230,240 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
HEALTH CARE— continued |
| |||||||
Select Medical Holdings | 50,159 | $ | 1,978,773 | |||||
|
| |||||||
18,677,294 | ||||||||
|
| |||||||
INDUSTRIALS — 11.8% |
| |||||||
AECOM * | 32,122 | 2,022,401 | ||||||
CSX | 58,437 | 1,888,684 | ||||||
Cummins | 7,119 | 1,652,320 | ||||||
ManpowerGroup | 16,533 | 1,960,483 | ||||||
Oshkosh | 16,622 | 1,987,160 | ||||||
Quanta Services | 24,573 | 2,233,686 | ||||||
United Rentals * | 6,313 | 2,080,449 | ||||||
|
| |||||||
13,825,183 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY — 8.2% |
| |||||||
Accenture PLC, Cl A | 6,803 | 2,161,177 | ||||||
Fiserv * | 14,621 | 1,683,023 | ||||||
Intel | 23,990 | 1,288,743 | ||||||
Lam Research | 2,793 | 1,780,286 | ||||||
Microsoft | 6,288 | 1,791,514 | ||||||
Visa, Cl A | 4,500 | 1,108,755 | ||||||
|
| |||||||
9,813,498 | ||||||||
|
| |||||||
MATERIALS — 4.9% |
| |||||||
Mosaic | 48,305 | 1,508,565 | ||||||
Sealed Air | 35,785 | 2,030,799 | ||||||
Steel Dynamics | 34,567 | 2,227,843 | ||||||
|
| |||||||
5,767,207 | ||||||||
|
| |||||||
REAL ESTATE — 3.7% |
| |||||||
Alexandria Real Estate Equities ‡ | 5,373 | 1,081,800 | ||||||
American Tower ‡ | 4,549 | 1,286,457 | ||||||
Lamar Advertising, Cl A ‡ | 18,827 | 2,006,958 | ||||||
|
| |||||||
4,375,215 | ||||||||
|
| |||||||
UTILITIES — 5.4% |
| |||||||
Entergy | 14,895 | 1,532,993 | ||||||
Exelon | 23,149 | 1,083,373 | ||||||
FirstEnergy | 31,965 | 1,224,899 | ||||||
Fortis | 30,777 | 1,395,429 | ||||||
Vistra Energy | 64,073 | 1,226,998 | ||||||
|
| |||||||
6,463,692 | ||||||||
|
| |||||||
Total Common Stock | 114,716,766 | |||||||
|
| |||||||
Total Investments in Securities— 97.8% |
| $ | 114,716,766 | |||||
|
|
Percentages are based on Net Assets of $117,317,929.
* | Non-income producing security. |
‡ | Real Estate Investment Trust. |
Cl — Class
PLC — Public Limited Company
As of July 31, 2021, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance of fair value measurements and disclosure under U.S. generally accepted accounting principles.
1
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LARGE CAP VALUE FUND JULY 31, 2021 (Unaudited) |
For the period ended July 31, 2021, there were no transfers in or out of Level 3.
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent financial statements.
KOC-QH-004-1300
2
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS LARGE CAP GROWTH FUND JULY 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS |
| |||||||
COMMON STOCK — 97.8%# |
| |||||||
�� Shares | Value | |||||||
COMMUNICATION SERVICES — 14.7% |
| |||||||
Alphabet, Cl A * | 3,040 | $ | 8,191,371 | |||||
Facebook, Cl A * | 15,902 | 5,665,883 | ||||||
Match Group * | 9,093 | 1,448,242 | ||||||
Netflix * | 734 | 379,896 | ||||||
Pinterest, Cl A * | 21,516 | 1,267,292 | ||||||
ROBLOX, Cl A * | 7,638 | 587,973 | ||||||
Roku, Cl A * | 1,354 | 579,932 | ||||||
|
| |||||||
18,120,589 | ||||||||
|
| |||||||
CONSUMER DISCRETIONARY — 17.2% |
| |||||||
Darden Restaurants | 10,355 | 1,510,587 | ||||||
Deckers Outdoor * | 3,864 | 1,587,524 | ||||||
eBay | 25,319 | 1,727,009 | ||||||
Lithia Motors, Cl A | 5,434 | 2,049,814 | ||||||
Lowe’s | 10,417 | 2,007,252 | ||||||
Marriott International, Cl A * | 14,191 | 2,071,602 | ||||||
MercadoLibre * | 1,166 | 1,829,104 | ||||||
NIKE, Cl B | 10,352 | 1,734,064 | ||||||
Pool | 2,969 | 1,418,648 | ||||||
RH * | 1,656 | 1,099,717 | ||||||
Target | 8,620 | 2,250,251 | ||||||
Tesla * | 3,124 | 2,146,813 | ||||||
|
| |||||||
21,432,385 | ||||||||
|
| |||||||
CONSUMER STAPLES — 2.6% |
| |||||||
BJ’s Wholesale Club Holdings * | 26,449 | 1,339,377 | ||||||
Monster Beverage * | 19,579 | 1,846,691 | ||||||
|
| |||||||
3,186,068 | ||||||||
|
| |||||||
FINANCIALS — 3.6% |
| |||||||
American Express | 9,390 | 1,601,277 | ||||||
LPL Financial Holdings | 8,048 | 1,135,090 | ||||||
Signature Bank NY | 5,909 | 1,341,166 | ||||||
SoFi Technologies * | 28,480 | 439,731 | ||||||
|
| |||||||
4,517,264 | ||||||||
|
| |||||||
HEALTH CARE — 8.4% |
| |||||||
Abbott Laboratories | 13,659 | 1,652,466 | ||||||
Amedisys * | 3,889 | 1,013,551 | ||||||
Exact Sciences * | 7,927 | 854,848 | ||||||
Natera * | 9,537 | 1,092,177 | ||||||
Oak Street Health * | 19,679 | 1,240,564 | ||||||
Regeneron Pharmaceuticals * | 2,103 | 1,208,405 | ||||||
Syneos Health, Cl A * | 17,946 | 1,609,218 | ||||||
Zoetis, Cl A | 8,777 | 1,779,098 | ||||||
|
| |||||||
10,450,327 | ||||||||
|
| |||||||
INDUSTRIALS — 5.3% |
| |||||||
Caterpillar | 9,691 | 2,003,614 | ||||||
FedEx | 6,854 | 1,918,777 | ||||||
Howmet Aerospace | 43,125 | 1,415,363 | ||||||
Stanley Black & Decker | 7,095 | 1,398,070 | ||||||
|
| |||||||
6,735,824 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY — 43.1% |
| |||||||
Accenture PLC, Cl A | 7,629 | 2,423,581 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INFORMATION TECHNOLOGY— continued |
| |||||||
Adobe * | 6,305 | $ | 3,919,377 | |||||
Apple | 77,130 | 11,250,182 | ||||||
Broadcom | 4,570 | 2,218,278 | ||||||
Dynatrace * | 22,094 | 1,411,144 | ||||||
Euronet Worldwide * | 7,783 | 1,111,568 | ||||||
Mastercard, Cl A | 7,787 | 3,005,315 | ||||||
Microchip Technology | 11,075 | 1,585,054 | ||||||
Microsoft | 39,022 | 11,117,758 | ||||||
NVIDIA | 9,672 | 1,885,943 | ||||||
ON Semiconductor * | 40,972 | 1,600,366 | ||||||
Oracle | 21,686 | 1,889,718 | ||||||
PayPal Holdings * | 12,192 | 3,359,262 | ||||||
QUALCOMM | 13,359 | 2,001,178 | ||||||
salesforce.com * | 7,765 | 1,878,586 | ||||||
ServiceNow * | 3,328 | 1,956,498 | ||||||
Zendesk * | 8,397 | 1,096,060 | ||||||
|
| |||||||
53,709,868 | ||||||||
|
| |||||||
MATERIALS — 1.0% |
| |||||||
Chemours | 36,341 | 1,208,338 | ||||||
|
| |||||||
REAL ESTATE — 1.9% |
| |||||||
American Tower ‡ | 8,494 | 2,402,103 | ||||||
|
| |||||||
Total Common Stock | 121,762,766 | |||||||
|
| |||||||
Total Investments in Securities— 97.8% |
| $ | 121,762,766 | |||||
|
|
Percentages are based on Net Assets of $124,560,835.
* | Non-income producing security. |
‡ | Real Estate Investment Trust. |
# | More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. |
Cl — Class
PLC — Public Limited Company
As of July 31, 2021, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance of fair value measurements and disclosure under U.S. generally accepted accounting principles.
For the period ended July 31, 2021, there were no transfers in or out of Level 3.
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent financial statements.
KOC-QH-003-1300
1
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS SMALL CAP FUND JULY 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS |
| |||||||
COMMON STOCK — 97.0% |
| |||||||
Shares | Value | |||||||
COMMUNICATION SERVICES — 1.8% |
| |||||||
Cars.com * | 65,891 | $ | 795,963 | |||||
Magnite * | 13,907 | 421,382 | ||||||
TechTarget * | 11,890 | 868,921 | ||||||
|
| |||||||
2,086,266 | ||||||||
|
| |||||||
CONSUMER DISCRETIONARY — 10.9% |
| |||||||
Adient PLC * | 17,275 | 727,796 | ||||||
Bally’s * | 17,576 | 865,618 | ||||||
Bloomin’ Brands * | 38,014 | 955,292 | ||||||
Boot Barn Holdings * | 11,715 | 1,012,410 | ||||||
Boyd Gaming * | 18,478 | 1,053,246 | ||||||
Brinker International * | 11,596 | 630,127 | ||||||
Dana | 41,512 | 1,002,930 | ||||||
Deckers Outdoor * | 1,690 | 694,336 | ||||||
Hibbett | 11,535 | 1,022,693 | ||||||
KB Home | 34,055 | 1,445,294 | ||||||
OneWater Marine, Cl A * | 14,588 | 685,344 | ||||||
Revolve Group, Cl A * | 13,848 | 963,959 | ||||||
Ruth’s Hospitality Group * | 38,778 | 774,397 | ||||||
YETI Holdings * | 7,898 | 760,814 | ||||||
Zumiez * | 16,838 | 734,979 | ||||||
|
| |||||||
13,329,235 | ||||||||
|
| |||||||
CONSUMER STAPLES — 2.7% |
| |||||||
BJ’s Wholesale Club Holdings * | 26,823 | 1,358,317 | ||||||
Darling Ingredients * | 15,111 | 1,043,717 | ||||||
MGP Ingredients | 13,966 | 833,072 | ||||||
|
| |||||||
3,235,106 | ||||||||
|
| |||||||
ENERGY — 3.3% |
| |||||||
Bonanza Creek Energy | 29,114 | 1,120,016 | ||||||
National Energy Services Reunited * | 58,871 | 759,436 | ||||||
PDC Energy | 45,661 | 1,805,892 | ||||||
Solaris Oilfield Infrastructure, Cl A | 42,253 | 367,601 | ||||||
|
| |||||||
4,052,945 | ||||||||
|
| |||||||
FINANCIALS — 16.9% |
| |||||||
Cohen & Steers | 9,266 | 771,024 | ||||||
ConnectOne Bancorp | 44,997 | 1,183,421 | ||||||
Customers Bancorp * | 24,878 | 901,081 | ||||||
Essent Group | 17,146 | 774,485 | ||||||
First Internet Bancorp | 14,927 | 451,989 | ||||||
Flagstar Bancorp | 21,156 | 968,099 | ||||||
Focus Financial Partners, Cl A * | 18,829 | 966,493 | ||||||
Hilltop Holdings | 32,845 | 1,040,530 | ||||||
Home BancShares | 44,442 | 941,282 | ||||||
Investors Bancorp | 146,311 | 2,022,018 | ||||||
Merchants Bancorp | 8,573 | 314,115 | ||||||
Meridian Bancorp | 35,652 | 681,310 | ||||||
Metropolitan Bank Holding * | 11,778 | 836,591 | ||||||
OFG Bancorp | 39,117 | 903,603 | ||||||
Old Second Bancorp | 77,814 | 901,086 | ||||||
PacWest Bancorp | 18,996 | 756,421 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
FINANCIALS— continued |
| |||||||
PJT Partners | 8,049 | $ | 629,190 | |||||
PROG Holdings * | 14,309 | 626,305 | ||||||
QCR Holdings | 21,341 | 1,047,630 | ||||||
SiriusPoint * | 62,547 | 612,961 | ||||||
Stewart Information Services | 12,028 | 709,772 | ||||||
Stifel Financial | 19,244 | 1,280,496 | ||||||
Wintrust Financial | 8,605 | 614,397 | ||||||
|
| |||||||
19,934,299 | ||||||||
|
| |||||||
HEALTH CARE — 17.9% |
| |||||||
Accolade * | 21,198 | 992,278 | ||||||
Accuray * | 134,940 | 553,254 | ||||||
Apellis Pharmaceuticals * | 8,973 | 574,182 | ||||||
Axsome Therapeutics * | 8,956 | 435,172 | ||||||
Castle Biosciences * | 8,881 | 620,338 | ||||||
CONMED | 8,230 | 1,135,246 | ||||||
Dicerna Pharmaceuticals * | 14,927 | 559,912 | ||||||
Editas Medicine, Cl A * | 18,096 | 757,498 | ||||||
Ensign Group | 12,256 | 1,042,618 | ||||||
Fate Therapeutics * | 10,007 | 828,580 | ||||||
Heron Therapeutics * | 32,714 | 404,345 | ||||||
Inmode * | 14,110 | 1,603,884 | ||||||
Inovalon Holdings, Cl A * | 32,033 | 1,213,410 | ||||||
Insmed * | 24,783 | 609,662 | ||||||
Integer Holdings * | 9,530 | 932,892 | ||||||
Invitae * | 22,090 | 618,299 | ||||||
Kala Pharmaceuticals * | 95,548 | 329,641 | ||||||
LHC Group * | 5,950 | 1,280,321 | ||||||
Natera * | 11,202 | 1,282,853 | ||||||
NuVasive * | 28,161 | 1,800,896 | ||||||
PTC Therapeutics * | 9,594 | 367,738 | ||||||
Surface Oncology * | 45,525 | 273,605 | ||||||
TG Therapeutics * | 15,424 | 539,686 | ||||||
Trillium Therapeutics * | 31,704 | 207,027 | ||||||
Varex Imaging * | 33,175 | 905,677 | ||||||
Vericel * | 24,855 | 1,315,824 | ||||||
|
| |||||||
21,184,838 | ||||||||
|
| |||||||
INDUSTRIALS — 15.3% |
| |||||||
Altra Industrial Motion | 29,510 | 1,849,687 | ||||||
ASGN * | 20,221 | 2,044,950 | ||||||
Atkore * | 9,503 | 713,770 | ||||||
Comfort Systems USA | 10,135 | 757,591 | ||||||
CSW Industrials | 6,394 | 756,346 | ||||||
Great Lakes Dredge & Dock * | 49,192 | 757,557 | ||||||
H&E Equipment Services | 29,361 | 999,155 | ||||||
Herc Holdings * | 7,625 | 945,805 | ||||||
Herman Miller | 22,391 | 966,172 | ||||||
Maxar Technologies | 15,667 | 568,242 | ||||||
McGrath RentCorp | 8,296 | 650,572 | ||||||
MYR Group * | 12,921 | 1,235,635 | ||||||
Raven Industries * | 13,837 | 806,005 | ||||||
Schneider National, Cl B | 37,955 | 851,710 | ||||||
Shyft Group | 26,128 | 1,030,488 |
1
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS SMALL CAP FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INDUSTRIALS— continued |
| |||||||
Stantec | 18,888 | $ | 878,103 | |||||
Sterling Construction * | 32,446 | 712,514 | ||||||
Triton International | 18,722 | 988,334 | ||||||
WESCO International * | 8,921 | 949,640 | ||||||
|
| |||||||
18,462,276 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY — 14.5% |
| |||||||
Corsair Gaming * | 24,072 | 702,662 | ||||||
FormFactor * | 23,477 | 874,753 | ||||||
Ichor Holdings * | 36,922 | 1,904,067 | ||||||
Itron * | 7,616 | 751,090 | ||||||
LivePerson * | 18,326 | 1,167,183 | ||||||
MACOM Technology Solutions Holdings * | 14,418 | 889,879 | ||||||
Perficient * | 15,297 | 1,442,354 | ||||||
Plantronics * | 21,404 | 667,591 | ||||||
Rapid7 * | 9,424 | 1,071,980 | ||||||
Repay Holdings, Cl A * | 39,701 | 988,952 | ||||||
Sapiens International | 26,793 | 675,451 | ||||||
Silicon Laboratories * | 7,638 | 1,137,986 | ||||||
Sprout Social, Cl A * | 11,546 | 1,025,747 | ||||||
SPS Commerce * | 10,066 | 1,096,691 | ||||||
Viavi Solutions * | 44,912 | 749,581 | ||||||
Workiva, Cl A * | 11,020 | 1,430,065 | ||||||
Xperi Holding | 34,603 | 718,704 | ||||||
|
| |||||||
17,294,736 | ||||||||
|
| |||||||
MATERIALS — 4.5% |
| |||||||
Allegheny Technologies * | 44,936 | 922,536 | ||||||
Greif, Cl A | 15,605 | 945,975 | ||||||
Summit Materials, Cl A * | 62,199 | 2,089,886 | ||||||
Tronox Holdings PLC | 72,344 | 1,333,300 | ||||||
|
| |||||||
5,291,697 | ||||||||
|
| |||||||
REAL ESTATE — 7.6% |
| |||||||
Armada Hoffler Properties ‡ | 57,581 | 748,553 | ||||||
Corporate Office Properties Trust ‡ | 29,917 | 880,756 | ||||||
Gladstone Land ‡ | 28,835 | 672,432 | ||||||
Independence Realty Trust ‡ | 43,935 | 847,067 | ||||||
National Storage Affiliates Trust ‡ | 41,039 | 2,223,083 | ||||||
New Senior Investment Group ‡ | 117,721 | 1,085,388 | ||||||
QTS Realty Trust, Cl A ‡ | 9,246 | 718,507 | ||||||
STAG Industrial ‡ | 23,624 | 976,144 | ||||||
UMH Properties ‡ | 38,583 | 898,212 | ||||||
|
| |||||||
9,050,142 | ||||||||
|
| |||||||
UTILITIES — 1.6% |
| |||||||
Clearway Energy, Cl C | 44,219 | 1,268,201 | ||||||
Southwest Gas Holdings | 8,944 | 625,454 | ||||||
|
| |||||||
1,893,655 | ||||||||
|
| |||||||
Total Common Stock | 115,815,195 | |||||||
|
| |||||||
Total Investments in Securities— 97.0% |
| $ | 115,815,195 | |||||
|
|
Percentages are based on Net Assets of $119,342,185.
* | Non-income producing security. |
‡ | Real Estate Investment Trust. |
Cl — Class
PLC — Public Limited Company
As of July 31, 2021, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance of fair value measurements and disclosure under U.S. generally accepted accounting principles.
For the period ended July 31, 2021, there were no transfers in or out of Level 3.
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent financial statements.
KOC-QH-005-1300
2
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS COMMON STOCK — 98.3%# |
| |||||||
Shares | Value | |||||||
COMMUNICATION SERVICES — 12.0% |
| |||||||
Activision Blizzard | 554 | $ | 46,325 | |||||
Alphabet, Cl A * | 222 | 598,186 | ||||||
Alphabet, Cl C * | 213 | 576,041 | ||||||
Altice USA, Cl A * | 178 | 5,470 | ||||||
AMC Entertainment Holdings, Cl A * | 310 | 11,476 | ||||||
AMC Networks, Cl A * | 20 | 1,001 | ||||||
Angi, Cl A * | 50 | 576 | ||||||
Anterix * | 11 | 642 | ||||||
AT&T | 5,384 | 151,021 | ||||||
ATN International | 7 | 301 | ||||||
Bandwidth, Cl A * | 14 | 1,815 | ||||||
Boston Omaha, Cl A * | 18 | 589 | ||||||
Cable One | 3 | 5,664 | ||||||
Cardlytics * | 21 | 2,645 | ||||||
Cargurus, Cl A * | 58 | 1,659 | ||||||
Cars.com * | 47 | 568 | ||||||
Charter Communications, Cl A * | 96 | 71,429 | ||||||
Cincinnati Bell * | 35 | 537 | ||||||
Cinemark Holdings * | 75 | 1,165 | ||||||
Clear Channel Outdoor Holdings, Cl A * | 343 | 912 | ||||||
Cogent Communications Holdings | 30 | 2,328 | ||||||
Comcast, Cl A | 3,386 | 199,198 | ||||||
comScore * | 47 | 188 | ||||||
Consolidated Communications Holdings * | 50 | 385 | ||||||
Daily Journal * | 1 | 333 | ||||||
Discovery, Cl A * | 116 | 3,365 | ||||||
DISH Network, Cl A * | 183 | 7,666 | ||||||
Electronic Arts | 207 | 29,800 | ||||||
Entercom Communications, Cl A * | 87 | 311 | ||||||
Eventbrite, Cl A * | 50 | 889 | ||||||
EverQuote, Cl A * | 12 | 362 | ||||||
EW Scripps, Cl A | 40 | 763 | ||||||
Facebook, Cl A * | 1,768 | 629,938 | ||||||
Fox | 243 | 8,665 | ||||||
Gannett * | 95 | 548 | ||||||
Globalstar * | 463 | 639 | ||||||
Gogo * | 46 | 477 | ||||||
Gray Television | 55 | 1,219 | ||||||
IAC * | 55 | 7,551 | ||||||
IDT, Cl B * | 15 | 747 | ||||||
iHeartMedia * | 71 | 1,835 | ||||||
Interpublic Group of Companies | 290 | 10,254 | ||||||
Iridium Communications * | 87 | 3,674 | ||||||
John Wiley & Sons, Cl A | 30 | 1,763 | ||||||
Liberty Broadband, Cl C * | 116 | 20,589 | ||||||
Liberty TripAdvisor Holdings, Cl A * | 48 | 201 | ||||||
Live Nation Entertainment * | 109 | 8,599 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
COMMUNICATION SERVICES— continued |
| |||||||
Loral Space & Communications | 14 | $ | 495 | |||||
Lumen Technologies | 829 | 10,338 | ||||||
Madison Square Garden Entertainment * | 16 | 1,119 | ||||||
Madison Square Garden Sports * | 10 | 1,627 | ||||||
Magnite * | 75 | 2,272 | ||||||
Marcus * | 14 | 225 | ||||||
Match Group * | 189 | 30,102 | ||||||
MediaAlpha, Cl A * | 14 | 468 | ||||||
Meredith * | 28 | 1,222 | ||||||
National CineMedia | 55 | 191 | ||||||
Netflix * | 323 | 167,175 | ||||||
New York Times, Cl A | 122 | 5,341 | ||||||
News | 288 | 7,093 | ||||||
Nexstar Media Group, Cl A | 30 | 4,412 | ||||||
NII Holdings *(A) | 46 | 100 | ||||||
Omnicom Group | 159 | 11,578 | ||||||
Ooma * | 14 | 260 | ||||||
ORBCOMM * | 53 | 598 | ||||||
Pinterest, Cl A * | 397 | 23,383 | ||||||
QuinStreet * | 34 | 624 | ||||||
Roku, Cl A * | 81 | 34,693 | ||||||
Scholastic | 17 | 571 | ||||||
Shenandoah Telecommunications | 34 | 1,795 | ||||||
Sinclair Broadcast Group, Cl A | 33 | 934 | ||||||
Sirius XM Holdings | 711 | 4,600 | ||||||
Snap, Cl A * | 711 | 52,913 | ||||||
Take-Two Interactive Software * | 77 | 13,353 | ||||||
TechTarget * | 18 | 1,315 | ||||||
TEGNA | 163 | 2,888 | ||||||
Telephone and Data Systems | 75 | 1,676 | ||||||
T-Mobile US * | 435 | 62,649 | ||||||
TripAdvisor * | 67 | 2,543 | ||||||
TrueCar * | 60 | 316 | ||||||
Twitter * | 576 | 40,176 | ||||||
United States Cellular * | 9 | 327 | ||||||
Verizon Communications | 3,103 | 173,085 | ||||||
Vimeo * | 95 | 4,256 | ||||||
Vonage Holdings * | 173 | 2,467 | ||||||
Walt Disney | 1,343 | 236,395 | ||||||
Warner Music Group, Cl A | 64 | 2,419 | ||||||
WideOpenWest * | 37 | 823 | ||||||
World Wrestling Entertainment, Cl A | 32 | 1,580 | ||||||
Yelp, Cl A * | 50 | 1,870 | ||||||
Zillow Group, Cl C * | 120 | 12,751 | ||||||
Zynga, Cl A * | 751 | 7,585 | ||||||
|
| |||||||
3,352,912 | ||||||||
|
| |||||||
CONSUMER DISCRETIONARY — 9.2% |
| |||||||
1-800-Flowers.com, Cl A * | 20 | 610 | ||||||
Aaron’s | 24 | 693 | ||||||
Abercrombie & Fitch, Cl A * | 43 | 1,626 |
1
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
CONSUMER DISCRETIONARY— continued |
| |||||||
Academy Sports & Outdoors * | 23 | $ | 852 | |||||
Accel Entertainment, Cl A * | 42 | 465 | ||||||
Acushnet Holdings | 24 | 1,230 | ||||||
Adient * | 65 | 2,738 | ||||||
Adtalem Global Education * | 35 | 1,272 | ||||||
Advance Auto Parts | 46 | 9,755 | ||||||
American Axle & Manufacturing Holdings * | 77 | 746 | ||||||
American Eagle Outfitters | 112 | 3,861 | ||||||
American Public Education * | 12 | 355 | ||||||
America’s Car-Mart * | 4 | 636 | ||||||
Aramark | 188 | 6,604 | ||||||
Asbury Automotive Group * | 12 | 2,466 | ||||||
AutoNation * | 37 | 4,489 | ||||||
AutoZone * | 14 | 22,730 | ||||||
Bally’s * | 28 | 1,379 | ||||||
Barnes & Noble Education * | 20 | 167 | ||||||
Bassett Furniture Industries | 6 | 137 | ||||||
Beazer Homes USA * | 21 | 383 | ||||||
Bed Bath & Beyond * | 73 | 2,083 | ||||||
Best Buy | 167 | 18,762 | ||||||
Big 5 Sporting Goods | 14 | 307 | ||||||
Big Lots | 23 | 1,325 | ||||||
BJ’s Restaurants * | 15 | 609 | ||||||
Bloomin’ Brands * | 57 | 1,432 | ||||||
Bluegreen Vacations Holding, Cl A * | 7 | 121 | ||||||
Booking Holdings * | 29 | 63,170 | ||||||
Boot Barn Holdings * | 19 | 1,642 | ||||||
BorgWarner | 177 | 8,669 | ||||||
Boyd Gaming * | 57 | 3,249 | ||||||
Bright Horizons Family Solutions * | 42 | 6,279 | ||||||
Brinker International * | 32 | 1,739 | ||||||
Brunswick | 55 | 5,742 | ||||||
Buckle | 21 | 884 | ||||||
Burlington Stores * | 47 | 15,736 | ||||||
Caesars Entertainment * | 146 | 12,755 | ||||||
Caleres | 26 | 643 | ||||||
Callaway Golf | 86 | 2,724 | ||||||
Camping World Holdings, Cl A | 29 | 1,141 | ||||||
Capri Holdings * | 109 | 6,138 | ||||||
CarMax * | 121 | 16,208 | ||||||
Carnival * | 621 | 13,445 | ||||||
CarParts.com * | 25 | 440 | ||||||
Carriage Services, Cl A | 10 | 372 | ||||||
Carter’s | 30 | 2,932 | ||||||
Carvana, Cl A * | 53 | 17,891 | ||||||
Cato, Cl A | 14 | 231 | ||||||
Cavco Industries * | 6 | 1,410 | ||||||
Century Casinos * | 19 | 213 | ||||||
Century Communities | 21 | 1,458 | ||||||
Cheesecake Factory * | 30 | 1,358 |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
CONSUMER DISCRETIONARY— continued |
| |||||||
Chegg * | 102 | $ | 9,040 | |||||
Chewy, Cl A * | 55 | 4,604 | ||||||
Chico’s FAS * | 77 | 476 | ||||||
Children’s Place * | 9 | 759 | ||||||
Chipotle Mexican Grill, Cl A * | 20 | 37,269 | ||||||
Choice Hotels International | 25 | 2,998 | ||||||
Churchill Downs | 24 | 4,459 | ||||||
Chuy’s Holdings * | 13 | 429 | ||||||
Citi Trends * | 6 | 479 | ||||||
Clarus | 16 | 456 | ||||||
Columbia Sportswear | 23 | 2,291 | ||||||
Container Store Group * | 22 | 231 | ||||||
Cooper-Standard Holdings * | 11 | 287 | ||||||
Core-Mark Holding | 31 | 1,334 | ||||||
Cracker Barrel Old Country Store | 15 | 2,043 | ||||||
Crocs * | 44 | 5,976 | ||||||
Dana | 107 | 2,585 | ||||||
Darden Restaurants | 97 | 14,150 | ||||||
Dave & Buster’s Entertainment * | 33 | 1,098 | ||||||
Deckers Outdoor * | 20 | 8,217 | ||||||
Del Taco Restaurants | 23 | 196 | ||||||
Denny’s * | 44 | 619 | ||||||
Designer Brands, Cl A * | 43 | 627 | ||||||
Dick’s Sporting Goods | 44 | 4,582 | ||||||
Dillard’s, Cl A | 8 | 1,466 | ||||||
Dine Brands Global * | 10 | 775 | ||||||
Dollar General | 177 | 41,177 | ||||||
Dollar Tree * | 171 | 17,064 | ||||||
Domino’s Pizza | 27 | 14,188 | ||||||
Dorman Products * | 19 | 1,922 | ||||||
DR Horton | 243 | 23,189 | ||||||
DraftKings, Cl A * | 212 | 10,282 | ||||||
Drive Shack * | 58 | 146 | ||||||
eBay | 487 | 33,218 | ||||||
El Pollo Loco Holdings * | 14 | 261 | ||||||
Ethan Allen Interiors | 16 | 380 | ||||||
Etsy * | 94 | 17,250 | ||||||
Everi Holdings * | 60 | 1,361 | ||||||
Expedia Group * | 104 | 16,730 | ||||||
Fiesta Restaurant Group * | 18 | 241 | ||||||
Five Below * | 38 | 7,388 | ||||||
Flexsteel Industries | 4 | 138 | ||||||
Floor & Decor Holdings, Cl A * | 71 | 8,663 | ||||||
Foot Locker | 63 | 3,595 | ||||||
Ford Motor * | 2,900 | 40,455 | ||||||
Fossil Group * | 31 | 391 | ||||||
Fox Factory Holding * | 29 | 4,685 | ||||||
Franchise Group | 18 | 611 | ||||||
Frontdoor * | 60 | 2,936 | ||||||
Funko, Cl A * | 13 | 243 | ||||||
GameStop, Cl A * | 40 | 6,445 | ||||||
Gap | 148 | 4,317 |
2
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
CONSUMER DISCRETIONARY— continued |
| |||||||
Garmin | 110 | $ | 17,292 | |||||
General Motors * | 1,016 | 57,749 | ||||||
Genesco * | 9 | 517 | ||||||
Gentex | 180 | 6,125 | ||||||
Gentherm * | 23 | 1,907 | ||||||
Genuine Parts | 105 | 13,327 | ||||||
G-III Apparel Group * | 30 | 896 | ||||||
Golden Entertainment * | 12 | 546 | ||||||
Goodyear Tire & Rubber * | 206 | 3,236 | ||||||
GoPro, Cl A * | 91 | 932 | ||||||
Graham Holdings, Cl B | 3 | 1,994 | ||||||
Grand Canyon Education * | 33 | 3,048 | ||||||
Green Brick Partners * | 34 | 852 | ||||||
Group 1 Automotive | 11 | 1,911 | ||||||
Groupon, Cl A * | 16 | 582 | ||||||
GrowGeneration * | 35 | 1,423 | ||||||
Guess? | 27 | 603 | ||||||
H&R Block | 135 | 3,314 | ||||||
Hanesbrands | 257 | 4,693 | ||||||
Harley-Davidson | 113 | 4,477 | ||||||
Hasbro | 90 | 8,950 | ||||||
Haverty Furniture | 10 | 360 | ||||||
Helen of Troy * | 16 | 3,574 | ||||||
Hibbett Sports | 10 | 887 | ||||||
Hilton Grand Vacations * | 63 | 2,562 | ||||||
Hilton Worldwide Holdings * | 202 | 26,553 | ||||||
Home Depot | 801 | 262,880 | ||||||
Hooker Furniture | 7 | 232 | ||||||
Houghton Mifflin Harcourt * | 88 | 996 | ||||||
Hyatt Hotels, Cl A * | 26 | 2,077 | ||||||
Installed Building Products | 17 | 2,040 | ||||||
International Game Technology | 70 | 1,312 | ||||||
iRobot * | 20 | 1,750 | ||||||
Jack in the Box | 16 | 1,742 | ||||||
Johnson Outdoors, Cl A | 5 | 592 | ||||||
Just Eat Takeaway.com ADR * | 221 | 3,892 | ||||||
KB Home | 63 | 2,674 | ||||||
Kirkland’s * | 8 | 156 | ||||||
Kohl’s | 116 | 5,893 | ||||||
Kontoor Brands | 37 | 2,049 | ||||||
L Brands | 176 | 14,092 | ||||||
Lakeland Industries * | 5 | 135 | ||||||
Lands’ End * | 9 | 345 | ||||||
Las Vegas Sands * | 243 | 10,291 | ||||||
Laureate Education, Cl A * | 62 | 918 | ||||||
La-Z-Boy, Cl Z | 32 | 1,075 | ||||||
LCI Industries | 16 | 2,333 | ||||||
Lear | 42 | 7,349 | ||||||
Leggett & Platt | 98 | 4,707 | ||||||
Lennar, Cl A | 201 | 21,135 | ||||||
Leslie’s * | 74 | 1,802 | ||||||
Levi Strauss, Cl A | 53 | 1,459 |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
CONSUMER DISCRETIONARY— continued |
| |||||||
LGI Homes * | 16 | $ | 2,734 | |||||
Lindblad Expeditions Holdings * | 21 | 287 | ||||||
Liquidity Services * | 17 | 337 | ||||||
Lithia Motors, Cl A | 17 | 6,413 | ||||||
LKQ * | 223 | 11,317 | ||||||
Lovesac * | 8 | 486 | ||||||
Lowe’s | 534 | 102,896 | ||||||
Lumber Liquidators Holdings * | 20 | 382 | ||||||
M/I Homes * | 20 | 1,294 | ||||||
Macy’s | 229 | 3,893 | ||||||
Malibu Boats, Cl A * | 13 | 1,088 | ||||||
MarineMax * | 14 | 753 | ||||||
Marriott International, Cl A * | 205 | 29,926 | ||||||
Marriott Vacations Worldwide * | 28 | 4,126 | ||||||
MasterCraft Boat Holdings * | 12 | 320 | ||||||
Mattel * | 258 | 5,604 | ||||||
MDC Holdings | 40 | 2,133 | ||||||
Meritage Homes * | 26 | 2,823 | ||||||
MGM Resorts International | 298 | 11,184 | ||||||
Modine Manufacturing * | 35 | 586 | ||||||
Mohawk Industries * | 40 | 7,796 | ||||||
Monarch Casino & Resort * | 8 | 511 | ||||||
Monro | 23 | 1,334 | ||||||
Motorcar Parts of America * | 12 | 267 | ||||||
Movado Group | 10 | 301 | ||||||
Murphy USA | 18 | 2,655 | ||||||
National Vision Holdings * | 57 | 3,077 | ||||||
Nautilus * | 21 | 303 | ||||||
NIKE, Cl B | 916 | 153,439 | ||||||
Noodles, Cl A * | 25 | 298 | ||||||
Nordstrom * | 77 | 2,549 | ||||||
Norwegian Cruise Line Holdings * | 273 | 6,560 | ||||||
NVR * | 2 | 10,445 | ||||||
Office Depot * | 37 | 1,751 | ||||||
Ollie’s Bargain Outlet Holdings * | 40 | 3,724 | ||||||
OneWater Marine, Cl A | 5 | 235 | ||||||
O’Reilly Automotive * | 49 | 29,588 | ||||||
Overstock.com * | 30 | 2,089 | ||||||
Oxford Industries | 11 | 956 | ||||||
Papa John’s International | 22 | 2,511 | ||||||
Party City Holdco * | 71 | 606 | ||||||
Patrick Industries | 16 | 1,322 | ||||||
Peloton Interactive, Cl A * | 187 | 22,075 | ||||||
Penn National Gaming * | 109 | 7,453 | ||||||
Penske Automotive Group | 22 | 1,949 | ||||||
Perdoceo Education * | 48 | 569 | ||||||
PetMed Express | 13 | 408 | ||||||
Planet Fitness, Cl A * | 58 | 4,363 | ||||||
Playa Hotels & Resorts * | 90 | 602 | ||||||
Polaris | 40 | 5,243 | ||||||
Pool | 27 | 12,901 | ||||||
PulteGroup | 195 | 10,700 |
3
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
CONSUMER DISCRETIONARY— continued |
| |||||||
Purple Innovation, Cl A * | 47 | $ | 1,238 | |||||
PVH * | 50 | 5,231 | ||||||
Quotient Technology * | 60 | 652 | ||||||
Qurate Retail | 276 | 3,273 | ||||||
Ralph Lauren, Cl A | 33 | 3,746 | ||||||
RealReal * | 58 | 958 | ||||||
Red Robin Gourmet Burgers * | 9 | 236 | ||||||
Red Rock Resorts, Cl A * | 43 | 1,694 | ||||||
Regis * | 24 | 191 | ||||||
Rent-A-Center, Cl A | 46 | 2,632 | ||||||
Revolve Group, Cl A * | 23 | 1,601 | ||||||
RH * | 12 | 7,969 | ||||||
Rocky Brands | 4 | 218 | ||||||
Ross Stores | 259 | 31,777 | ||||||
Royal Caribbean Cruises * | 162 | 12,453 | ||||||
Ruth’s Hospitality Group * | 23 | 459 | ||||||
Sally Beauty Holdings * | 79 | 1,495 | ||||||
Scientific Games * | 65 | 4,011 | ||||||
SeaWorld Entertainment * | 54 | 2,560 | ||||||
Service International | 122 | 7,624 | ||||||
Shake Shack, Cl A * | 26 | 2,614 | ||||||
Shoe Carnival | 10 | 337 | ||||||
Shutterstock | 15 | 1,627 | ||||||
Signet Jewelers | 35 | 2,252 | ||||||
Six Flags Entertainment * | 58 | 2,410 | ||||||
Skechers USA, Cl A * | 100 | 5,368 | ||||||
Skyline Champion * | 39 | 2,200 | ||||||
Sleep Number * | 15 | 1,488 | ||||||
Sonic Automotive, Cl A | 13 | 709 | ||||||
Sonos * | 83 | 2,771 | ||||||
Sportsman’s Warehouse Holdings * | 30 | 530 | ||||||
Stamps.com * | 11 | 3,594 | ||||||
Standard Motor Products | 13 | 543 | ||||||
Starbucks | 874 | 106,130 | ||||||
Stellantis | 1,104 | 21,164 | ||||||
Steven Madden | 55 | 2,411 | ||||||
Stitch Fix, Cl A * | 46 | 2,480 | ||||||
Stoneridge * | 17 | 492 | ||||||
Strategic Education | 16 | 1,269 | ||||||
Stride * | 28 | 858 | ||||||
Superior Group of | 6 | 140 | ||||||
Tapestry | 205 | 8,671 | ||||||
Target | 370 | 96,588 | ||||||
Taylor Morrison Home, Cl A * | 88 | 2,360 | ||||||
Tempur Sealy International | 147 | 6,361 | ||||||
Tenneco, Cl A * | 46 | 801 | ||||||
Terminix Global Holdings * | 96 | 5,040 | ||||||
Tesla * | 537 | 369,026 | ||||||
Texas Roadhouse, Cl A | 47 | 4,332 | ||||||
Thor Industries | 37 | 4,379 | ||||||
Tilly’s, Cl A | 16 | 237 | ||||||
TJX | 896 | 61,654 |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
CONSUMER DISCRETIONARY— continued |
| |||||||
Toll Brothers | 85 | $ | 5,038 | |||||
TopBuild * | 23 | 4,662 | ||||||
Tractor Supply | 86 | 15,560 | ||||||
Travel + Leisure | 63 | 3,263 | ||||||
TRI Pointe Group * | 83 | 2,002 | ||||||
Tupperware Brands * | 34 | 710 | ||||||
Ulta Beauty * | 38 | 12,760 | ||||||
Under Armour, Cl A * | 139 | 2,843 | ||||||
Unifi * | 11 | 259 | ||||||
Universal Electronics * | 9 | 421 | ||||||
Urban Outfitters * | 42 | 1,562 | ||||||
Vail Resorts | 28 | 8,546 | ||||||
Vera Bradley * | 16 | 176 | ||||||
VF | 273 | 21,895 | ||||||
Vista Outdoor * | 40 | 1,616 | ||||||
Visteon * | 20 | 2,281 | ||||||
Vivint Smart Home * | 29 | 356 | ||||||
VOXX International, Cl A * | 10 | 114 | ||||||
Vroom * | 74 | 2,741 | ||||||
Waitr Holdings * | 73 | 125 | ||||||
Wayfair, Cl A * | 51 | 12,309 | ||||||
Wendy’s | 152 | 3,528 | ||||||
Whirlpool | 43 | 9,526 | ||||||
Williams-Sonoma | 53 | 8,040 | ||||||
Wingstop | 21 | 3,598 | ||||||
Winmark | 2 | 422 | ||||||
Winnebago Industries | 23 | 1,653 | ||||||
Wolverine World Wide | 57 | 1,912 | ||||||
Workhorse Group * | 87 | 1,004 | ||||||
WW International * | 47 | 1,445 | ||||||
Wyndham Hotels & Resorts | 65 | 4,684 | ||||||
XPEL * | 11 | 1,019 | ||||||
YETI Holdings * | 58 | 5,587 | ||||||
Yum! Brands | 222 | 29,169 | ||||||
Zumiez * | 14 | 611 | ||||||
|
| |||||||
2,630,713 | ||||||||
|
| |||||||
CONSUMER STAPLES — 4.2% | ||||||||
22nd Century Group * | 110 | 353 | ||||||
Albertsons, Cl A | 33 | 713 | ||||||
Altria Group | 1,396 | 67,064 | ||||||
Andersons | 22 | 587 | ||||||
Archer-Daniels-Midland | 414 | 24,724 | ||||||
B&G Foods | 45 | 1,292 | ||||||
BellRing Brands, Cl A * | 28 | 926 | ||||||
Beyond Meat * | 40 | 4,908 | ||||||
BJ’s Wholesale Club Holdings * | 100 | 5,064 | ||||||
Boston Beer, Cl A * | 6 | 4,260 | ||||||
Brown-Forman, Cl B | 224 | 15,886 | ||||||
Bunge | 104 | 8,074 | ||||||
Calavo Growers | 11 | 620 | ||||||
Cal-Maine Foods | 25 | 872 | ||||||
Campbell Soup | 151 | 6,602 |
4
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
CONSUMER STAPLES— continued | ||||||||
Casey’s General Stores | 26 | $ | 5,140 | |||||
Celsius Holdings * | 21 | 1,441 | ||||||
Central Garden & Pet * | 6 | 290 | ||||||
Central Garden & Pet, Cl A * | 28 | 1,213 | ||||||
Chefs’ Warehouse * | 22 | 636 | ||||||
Clorox | 94 | 17,004 | ||||||
Coca-Cola | 3,199 | 182,439 | ||||||
Coca-Cola Consolidated | 3 | 1,197 | ||||||
Colgate-Palmolive | 631 | 50,165 | ||||||
Conagra Brands | 354 | 11,855 | ||||||
Constellation Brands, Cl A | 121 | 27,145 | ||||||
Coty, Cl A * | 214 | 1,868 | ||||||
Darling Ingredients * | 119 | 8,219 | ||||||
Edgewell Personal Care | 38 | 1,561 | ||||||
elf Beauty * | 33 | 911 | ||||||
Energizer Holdings | 44 | 1,885 | ||||||
Estee Lauder, Cl A | 170 | 56,751 | ||||||
Flowers Foods | 146 | 3,440 | ||||||
Fresh Del Monte Produce | 26 | 802 | ||||||
Freshpet * | 29 | 4,247 | ||||||
General Mills | 455 | 26,781 | ||||||
Grocery Outlet Holding * | 59 | 1,954 | ||||||
Hain Celestial Group * | 70 | 2,794 | ||||||
Herbalife Nutrition * | 74 | 3,770 | ||||||
Hershey | 109 | 19,498 | ||||||
HF Foods Group * | 26 | 134 | ||||||
Hormel Foods | 210 | 9,740 | ||||||
Hostess Brands, Cl A * | 92 | 1,480 | ||||||
Ingles Markets, Cl A | 9 | 538 | ||||||
Ingredion | 47 | 4,127 | ||||||
Inter Parfums | 11 | 846 | ||||||
J&J Snack Foods | 10 | 1,644 | ||||||
JM Smucker | 75 | 9,833 | ||||||
John B Sanfilippo & Son | 6 | 554 | ||||||
Kellogg | 253 | 16,030 | ||||||
Keurig Dr Pepper | 499 | 17,570 | ||||||
Kimberly-Clark | 252 | 34,201 | ||||||
Kraft Heinz | 736 | 28,314 | ||||||
Lamb Weston Holdings | 108 | 7,211 | ||||||
Lancaster Colony | 12 | 2,374 | ||||||
Landec * | 20 | 219 | ||||||
Limoneira | 9 | 161 | ||||||
McCormick | 185 | 15,571 | ||||||
Medifast | 7 | 1,999 | ||||||
MGP Ingredients | 11 | 656 | ||||||
Mission Produce * | 24 | 465 | ||||||
Molson Coors Beverage, Cl B | 131 | 6,405 | ||||||
Mondelez International, Cl A | 1,045 | 66,107 | ||||||
Monster Beverage * | 276 | 26,032 | ||||||
National Beverage | 15 | 681 | ||||||
NewAge * | 93 | 178 | ||||||
Nu Skin Enterprises, Cl A | 35 | 1,879 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
CONSUMER STAPLES— continued | ||||||||
PepsiCo | 1,028 | $ | 161,345 | |||||
Performance Food Group * | 92 | 4,215 | ||||||
Philip Morris International | 1,167 | 116,805 | ||||||
Pilgrim’s Pride * | 33 | 731 | ||||||
Post Holdings * | 42 | 4,298 | ||||||
PriceSmart | 17 | 1,526 | ||||||
Reynolds Consumer Products | 38 | 1,081 | ||||||
Sanderson Farms | 13 | 2,429 | ||||||
Seneca Foods, Cl A * | 4 | 219 | ||||||
Simply Good Foods * | 58 | 2,174 | ||||||
SpartanNash | 25 | 486 | ||||||
Spectrum Brands Holdings | 29 | 2,533 | ||||||
Sprouts Farmers Market * | 83 | 2,040 | ||||||
Sysco | 379 | 28,122 | ||||||
Tootsie Roll Industries | 9 | 310 | ||||||
TreeHouse Foods * | 39 | 1,732 | ||||||
Turning Point Brands | 11 | 583 | ||||||
Tyson Foods, Cl A | 216 | 15,435 | ||||||
United Natural Foods * | 39 | 1,292 | ||||||
Universal | 17 | 887 | ||||||
US Foods Holding * | 155 | 5,323 | ||||||
USANA Health Sciences * | 8 | 762 | ||||||
Utz Brands | 41 | 928 | ||||||
Vector Group | 98 | 1,309 | ||||||
Vital Farms * | 11 | 192 | ||||||
WD-40 | 9 | 2,187 | ||||||
Weis Markets | 11 | 579 | ||||||
|
| |||||||
1,189,423 | ||||||||
|
| |||||||
ENERGY — 3.0% | ||||||||
Alto Ingredients * | 49 | 260 | ||||||
Antero Midstream | 231 | 2,195 | ||||||
Antero Resources * | 184 | 2,502 | ||||||
APA | 279 | 5,231 | ||||||
Arch Resources * | 10 | 657 | ||||||
Archrock | 99 | 852 | ||||||
Aspen Aerogels * | 19 | 715 | ||||||
Baker Hughes, Cl A | 539 | 11,448 | ||||||
Berry Petroleum | 56 | 311 | ||||||
Bonanza Creek Energy | 21 | 808 | ||||||
Brigham Minerals, Cl A | 31 | 609 | ||||||
Bristow Group * | 21 | 546 | ||||||
Cabot Oil & Gas | 290 | 4,640 | ||||||
Cactus, Cl A | 38 | 1,370 | ||||||
California Resources * | 53 | 1,490 | ||||||
Callon Petroleum * | 28 | 1,102 | ||||||
Centennial Resource Development, Cl A * | 135 | 703 | ||||||
ChampionX * | 148 | 3,440 | ||||||
Cheniere Energy * | 186 | 15,797 | ||||||
Chevron | 1,447 | 147,319 | ||||||
Cimarex Energy | 71 | 4,629 | ||||||
Clean Energy Fuels * | 107 | 804 |
5
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
ENERGY— continued | ||||||||
CNX Resources * | 161 | $ | 1,948 | |||||
Comstock Resources * | 50 | 304 | ||||||
ConocoPhillips | 1,017 | 57,013 | ||||||
CONSOL Energy * | 24 | 504 | ||||||
Contango Oil & Gas * | 89 | 340 | ||||||
Continental Resources | 44 | 1,503 | ||||||
Core Laboratories | 33 | 1,101 | ||||||
CVR Energy | 84 | 1,147 | ||||||
Delek US Holdings | 58 | 1,008 | ||||||
Denbury * | 34 | 2,234 | ||||||
Devon Energy | 468 | 12,093 | ||||||
DHT Holdings | 107 | 621 | ||||||
Diamondback Energy | 126 | 9,718 | ||||||
DMC Global * | 10 | 438 | ||||||
Dorian LPG | 23 | 278 | ||||||
Dril-Quip * | 25 | 715 | ||||||
DT Midstream | 68 | 2,883 | ||||||
EOG Resources | 439 | 31,986 | ||||||
Equities * | 202 | 3,715 | ||||||
Equitrans Midstream | 301 | 2,474 | ||||||
Extraction Oil & Gas * | 8 | 356 | ||||||
Exxon Mobil | 3,179 | 183,015 | ||||||
Frank’s International * | 114 | 313 | ||||||
FTS International, Cl A * | 6 | 117 | ||||||
Green Plains * | 30 | 1,061 | ||||||
Halliburton | 657 | 13,587 | ||||||
Helix Energy Solutions Group * | 105 | 436 | ||||||
Helmerich & Payne | 74 | 2,122 | ||||||
Hess | 204 | 15,594 | ||||||
HollyFrontier | 120 | 3,528 | ||||||
International Seaways | 32 | 526 | ||||||
Kinder Morgan | 1,469 | 25,531 | ||||||
Laredo Petroleum * | 8 | 440 | ||||||
Liberty Oilfield Services, Cl A * | 59 | 601 | ||||||
Magnolia Oil & Gas, Cl A | 102 | 1,428 | ||||||
Marathon Oil | 584 | 6,769 | ||||||
Marathon Petroleum | 486 | 26,837 | ||||||
Matador Resources | 77 | 2,379 | ||||||
Murphy Oil | 109 | 2,366 | ||||||
Nabors Industries * | 5 | 438 | ||||||
National Energy Services Reunited * | 48 | 619 | ||||||
Newpark Resources * | 62 | 200 | ||||||
NexTier Oilfield Solutions * | 117 | 447 | ||||||
Northern Oil and Gas | 34 | 587 | ||||||
NOV * | 288 | 3,977 | ||||||
Oasis Petroleum | 13 | 1,192 | ||||||
Occidental Petroleum | 691 | 18,035 | ||||||
Oceaneering International * | 68 | 902 | ||||||
Oil States International * | 41 | 232 | ||||||
ONEOK | 328 | 17,046 | ||||||
Ovintiv | 189 | 4,850 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
ENERGY— continued | ||||||||
Par Pacific Holdings * | 41 | $ | 672 | |||||
Patterson-UTI Energy | 136 | 1,091 | ||||||
PBF Energy, Cl A * | 67 | 614 | ||||||
PDC Energy | 69 | 2,729 | ||||||
Peabody Energy * | 68 | 796 | ||||||
Phillips 66 | 327 | 24,012 | ||||||
Pioneer Natural Resources | 160 | 23,259 | ||||||
Plains GP Holdings, Cl A | 139 | 1,458 | ||||||
ProPetro Holding * | 53 | 400 | ||||||
Range Resources * | 187 | 2,848 | ||||||
Renewable Energy Group * | 32 | 1,960 | ||||||
REX American Resources * | 3 | 246 | ||||||
RPC * | 45 | 189 | ||||||
Schlumberger | 1,039 | 29,954 | ||||||
Select Energy Services, Cl A * | 52 | 309 | ||||||
SM Energy | 79 | 1,477 | ||||||
Solaris Oilfield Infrastructure, Cl A | 20 | 174 | ||||||
Southwestern Energy * | 488 | 2,298 | ||||||
Talos Energy * | 22 | 254 | ||||||
Targa Resources | 166 | 6,990 | ||||||
Tellurian * | 204 | 769 | ||||||
TETRA Technologies * | 85 | 263 | ||||||
Texas Pacific Land | 5 | 7,463 | ||||||
Tidewater * | 27 | 306 | ||||||
Transocean * | 431 | 1,556 | ||||||
US Silica Holdings * | 51 | 515 | ||||||
Valero Energy | 306 | 20,493 | ||||||
Viper Energy Partners | 42 | 756 | ||||||
W&T Offshore * | 66 | 267 | ||||||
Whiting Petroleum * | 27 | 1,266 | ||||||
Williams | 911 | 22,821 | ||||||
World Fuel Services | 43 | 1,482 | ||||||
|
| |||||||
834,669 | ||||||||
|
| |||||||
FINANCIALS — 12.0% | ||||||||
1st Source | 12 | 549 | ||||||
Aaron’s Holdings | 47 | 2,057 | ||||||
ACNB | 5 | 140 | ||||||
Affiliated Managers Group | 29 | 4,595 | ||||||
AGNC Investment ‡ | 391 | 6,205 | ||||||
Alerus Financial | 10 | 280 | ||||||
Alleghany * | 9 | 5,968 | ||||||
Allegiance Bancshares | 12 | 438 | ||||||
Allstate | 223 | 29,001 | ||||||
Ally Financial | 275 | 14,124 | ||||||
Altabancorp | 8 | 323 | ||||||
A-Mark Precious Metals | 5 | 255 | ||||||
Ambac Financial Group * | 32 | 465 | ||||||
Amerant Bancorp, Cl A * | 14 | 310 | ||||||
American Equity Investment Life Holding | 66 | 2,118 | ||||||
American Express | 596 | 101,636 |
6
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
FINANCIALS— continued | ||||||||
American Financial Group | 66 | $ | 8,348 | |||||
American International Group | 643 | 30,446 | ||||||
American National Bankshares | 7 | 221 | ||||||
American National Group | 12 | 1,980 | ||||||
Ameriprise Financial | 87 | 22,408 | ||||||
Ameris Bancorp | 46 | 2,236 | ||||||
AMERISAFE | 12 | 686 | ||||||
Ames National | 6 | 142 | ||||||
Annaly Capital Management ‡ | 1,059 | 8,991 | ||||||
Apollo Commercial Real Estate Finance ‡ | 105 | 1,598 | ||||||
Apollo Global Management, Cl A | 157 | 9,241 | ||||||
Arbor Realty Trust ‡ | 95 | 1,737 | ||||||
Arch Capital Group * | 290 | 11,310 | ||||||
Ares Commercial Real Estate ‡ | 26 | 392 | ||||||
Ares Management, Cl A | 87 | 6,230 | ||||||
Argo Group International Holdings | 24 | 1,251 | ||||||
ARMOUR Residential ‡ | 50 | 520 | ||||||
Arrow Financial | 10 | 361 | ||||||
Arthur J Gallagher | 143 | 19,921 | ||||||
Artisan Partners Asset Management, Cl A | 44 | 2,116 | ||||||
AssetMark Financial Holdings * | 12 | 313 | ||||||
Associated Banc-Corp | 112 | 2,218 | ||||||
Assurant | 42 | 6,628 | ||||||
Assured Guaranty | 51 | 2,438 | ||||||
Athene Holding, Cl A * | 96 | 6,203 | ||||||
Atlantic Capital Bancshares * | 13 | 312 | ||||||
Atlantic Union Bankshares | 55 | 1,951 | ||||||
Atlanticus Holdings * | 4 | 174 | ||||||
Axis Capital Holdings | 54 | 2,747 | ||||||
Axos Financial * | 37 | 1,770 | ||||||
B. Riley Financial | 11 | 743 | ||||||
Banc of California | 34 | 582 | ||||||
BancFirst | 11 | 610 | ||||||
Bancorp * | 36 | 841 | ||||||
BancorpSouth Bank | 71 | 1,832 | ||||||
Bank First | 4 | 280 | ||||||
Bank of America | 6,378 | 244,660 | ||||||
Bank of Hawaii | 28 | 2,344 | ||||||
Bank of Marin Bancorp | 8 | 278 | ||||||
Bank of New York Mellon | 653 | 33,518 | ||||||
Bank OZK | 90 | 3,664 | ||||||
BankUnited | 65 | 2,573 | ||||||
Banner | 24 | 1,273 | ||||||
Bar Harbor Bankshares | 9 | 258 | ||||||
Berkshire Hathaway, Cl B * | 988 | 274,951 | ||||||
BGC Partners, Cl A | 216 | 1,156 | ||||||
BlackRock, Cl A | 106 | 91,920 | ||||||
Blackstone Group, Cl A | 502 | 57,866 | ||||||
Blucora * | 32 | 540 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
FINANCIALS— continued | ||||||||
BOK Financial | 22 | $ | 1,848 | |||||
Bridgewater Bancshares * | 16 | 260 | ||||||
Brighthouse Financial * | 61 | 2,627 | ||||||
Brightsphere Investment Group | 56 | 1,399 | ||||||
BrightSpire Capital ‡ | 59 | 561 | ||||||
Broadmark Realty Capital ‡ | 94 | 975 | ||||||
Brookfield Asset Management, Cl A | 2 | 133 | ||||||
Brookline Bancorp | 54 | 776 | ||||||
Brown & Brown | 175 | 9,520 | ||||||
BRP Group, Cl A * | 29 | 791 | ||||||
Bryn Mawr Bank | 13 | 509 | ||||||
Business First Bancshares | 14 | 326 | ||||||
Byline Bancorp | 17 | 418 | ||||||
Cadence BanCorp, Cl A | 86 | 1,634 | ||||||
Cambridge Bancorp | 4 | 342 | ||||||
Camden National | 9 | 403 | ||||||
Cannae Holdings * | 61 | 2,028 | ||||||
Capital City Bank Group | 8 | 195 | ||||||
Capital One Financial | 336 | 54,331 | ||||||
Capitol Federal Financial | 99 | 1,098 | ||||||
Capstar Financial Holdings | 11 | 233 | ||||||
Capstead Mortgage ‡ | 72 | 459 | ||||||
Carlyle Group | 115 | 5,804 | ||||||
Carter Bankshares * | 17 | 195 | ||||||
Cathay General Bancorp | 53 | 2,007 | ||||||
Cboe Global Markets | 75 | 8,885 | ||||||
CBTX | 12 | 316 | ||||||
Central Pacific Financial | 18 | 461 | ||||||
Century Bancorp, Cl A | 2 | 229 | ||||||
Charles Schwab | 1,243 | 84,462 | ||||||
Chimera Investment ‡ | 171 | 2,517 | ||||||
Chubb | 333 | 56,190 | ||||||
Cincinnati Financial | 111 | 13,085 | ||||||
CIT Group | 69 | 3,329 | ||||||
Citigroup | 1,544 | 104,405 | ||||||
Citizens, Cl A * | 31 | 166 | ||||||
Citizens & Northern | 10 | 247 | ||||||
City Holding | 10 | 757 | ||||||
Civista Bancshares | 10 | 229 | ||||||
CME Group, Cl A | 266 | 56,427 | ||||||
CNA Financial | 19 | 836 | ||||||
CNB Financial | 11 | 254 | ||||||
Coastal Financial * | 6 | 175 | ||||||
Cohen & Steers | 16 | 1,331 | ||||||
Columbia Banking System | 51 | 1,782 | ||||||
Columbia Financial * | 28 | 505 | ||||||
Comerica | 104 | 7,141 | ||||||
Commerce Bancshares | 80 | 5,658 | ||||||
Community Bank System | 38 | 2,722 | ||||||
Community Trust Bancorp | 11 | 437 | ||||||
ConnectOne Bancorp | 25 | 658 |
7
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
FINANCIALS— continued | ||||||||
Cowen, Cl A | 16 | $ | 640 | |||||
Credit Acceptance * | 7 | 3,393 | ||||||
CrossFirst Bankshares * | 34 | 470 | ||||||
Cullen | 41 | 4,400 | ||||||
Curo Group Holdings | 14 | 221 | ||||||
Customers Bancorp * | 19 | 688 | ||||||
Diamond Hill Investment Group | 2 | 345 | ||||||
Dime Community Bancshares | 28 | 925 | ||||||
Discover Financial Services | 227 | 28,221 | ||||||
Donegal Group, Cl A | 8 | 124 | ||||||
Donnelley Financial Solutions * | 23 | 741 | ||||||
Dynex Capital ‡ | 21 | 366 | ||||||
Eagle Bancorp | 22 | 1,211 | ||||||
East West Bancorp | 104 | 7,400 | ||||||
Eastern Bankshares | 126 | 2,300 | ||||||
eHealth * | 16 | 832 | ||||||
Ellington Financial ‡ | 29 | 527 | ||||||
Employers Holdings | 18 | 747 | ||||||
Encore Capital Group * | 21 | 994 | ||||||
Enova International * | 25 | 827 | ||||||
Enstar Group * | 10 | 2,570 | ||||||
Enterprise Bancorp | 6 | 196 | ||||||
Enterprise Financial Services | 23 | 1,023 | ||||||
Equitable Holdings | 286 | 8,829 | ||||||
Equity Bancshares, Cl A * | 8 | 236 | ||||||
Erie Indemnity, Cl A | 18 | 3,328 | ||||||
Essent Group | 82 | 3,704 | ||||||
Evercore, Cl A | 28 | 3,702 | ||||||
Everest Re Group | 25 | 6,321 | ||||||
EZCORP, Cl A * | 36 | 206 | ||||||
FactSet Research Systems | 26 | 9,289 | ||||||
Farmers & Merchants Bancorp | 6 | 132 | ||||||
Farmers National Banc | 17 | 261 | ||||||
FB Financial | 23 | 870 | ||||||
Federal Agricultural Mortgage, Cl C | 6 | 585 | ||||||
Federated Hermes, Cl B | 67 | 2,173 | ||||||
Fidelity National Financial | 202 | 9,011 | ||||||
Fifth Third Bancorp | 528 | 19,161 | ||||||
Financial Institutions | 10 | 294 | ||||||
First American Financial | 74 | 4,981 | ||||||
First Bancorp | 6 | 174 | ||||||
First Bancorp/NC | 20 | 800 | ||||||
First Bancshares | 13 | 501 | ||||||
First Busey | 35 | 826 | ||||||
First Citizens BancShares, Cl A | 4 | 3,130 | ||||||
First Commonwealth Financial | 67 | 882 | ||||||
First Financial | 8 | 320 | ||||||
First Financial Bancorp | 67 | 1,508 | ||||||
First Financial Bankshares | 96 | 4,689 | ||||||
First Foundation | 28 | 660 | ||||||
First Hawaiian | 97 | 2,670 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
FINANCIALS— continued | ||||||||
First Horizon National | 406 | $ | 6,273 | |||||
First Internet Bancorp | 6 | 182 | ||||||
First Interstate BancSystem, Cl A | 28 | 1,174 | ||||||
First Merchants | 38 | 1,548 | ||||||
First Mid Bancshares | 10 | 407 | ||||||
First Midwest Bancorp | 80 | 1,435 | ||||||
First of Long Island | 15 | 323 | ||||||
First Republic Bank | 131 | 25,548 | ||||||
FirstCash | 28 | 2,218 | ||||||
Flagstar Bancorp | 36 | 1,647 | ||||||
Flushing Financial | 21 | 463 | ||||||
FNB | 239 | 2,739 | ||||||
Focus Financial Partners, Cl A * | 30 | 1,540 | ||||||
Franklin Resources | 217 | 6,412 | ||||||
FS Bancorp | 4 | 139 | ||||||
Fulton Financial | 121 | 1,854 | ||||||
Genworth Financial, Cl A * | 372 | 1,242 | ||||||
German American Bancorp | 16 | 603 | ||||||
Glacier Bancorp | 67 | 3,455 | ||||||
GoHealth, Cl A * | 69 | 607 | ||||||
Goldman Sachs Group | 245 | 91,846 | ||||||
Goosehead Insurance, Cl A | 11 | 1,322 | ||||||
Granite Point Mortgage Trust ‡ | 38 | 536 | ||||||
Great Ajax ‡ | 14 | 178 | ||||||
Great Southern Bancorp | 7 | 364 | ||||||
Great Western Bancorp | 39 | 1,201 | ||||||
Green Dot, Cl A * | 36 | 1,659 | ||||||
Greenhill | 9 | 144 | ||||||
Guaranty Bancshares | 6 | 201 | ||||||
Hamilton Lane, Cl A | 22 | 2,046 | ||||||
Hancock Whitney | 62 | 2,710 | ||||||
Hanmi Financial | 20 | 365 | ||||||
Hanover Insurance Group | 25 | 3,398 | ||||||
HarborOne Bancorp | 35 | 476 | ||||||
Hartford Financial Services Group | 265 | 16,859 | ||||||
HCI Group | 4 | 402 | ||||||
Heartland Financial USA | 28 | 1,277 | ||||||
Heritage Commerce | 41 | 444 | ||||||
Heritage Financial | 25 | 605 | ||||||
Heritage Insurance Holdings | 16 | 117 | ||||||
Hilltop Holdings | 44 | 1,394 | ||||||
Home Bancorp | 5 | 176 | ||||||
Home BancShares | 113 | 2,393 | ||||||
HomeStreet | 15 | 566 | ||||||
HomeTrust Bancshares | 10 | 263 | ||||||
Hope Bancorp | 84 | 1,113 | ||||||
Horace Mann Educators | 29 | 1,154 | ||||||
Houlihan Lokey, Cl A | 36 | 3,208 | ||||||
Howard Bancorp * | 8 | 158 | ||||||
Huntington Bancshares | 1,094 | 15,404 | ||||||
Independent Bank | 23 | 1,626 | ||||||
Independent Bank/MI | 15 | 315 |
8
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
FINANCIALS— continued |
| |||||||
Independent Bank Group | 26 | $ | 1,812 | |||||
Interactive Brokers Group, Cl A | 56 | 3,464 | ||||||
Intercontinental Exchange | 413 | 49,490 | ||||||
International Bancshares | 38 | 1,485 | ||||||
Invesco | 337 | 8,216 | ||||||
Invesco Mortgage Capital ‡ | 175 | 602 | ||||||
Investors Bancorp | 170 | 2,349 | ||||||
Investors Title | 1 | 167 | ||||||
James River Group Holdings | 21 | 764 | ||||||
Jefferies Financial Group | 150 | 4,979 | ||||||
JPMorgan Chase | 2,241 | 340,139 | ||||||
Kearny Financial | 54 | 650 | ||||||
Kemper | 44 | 2,904 | ||||||
KeyCorp | 720 | 14,155 | ||||||
Kinsale Capital Group | 14 | 2,501 | ||||||
KKR Real Estate Finance Trust ‡ | 23 | 490 | ||||||
Ladder Capital, Cl A ‡ | 85 | 971 | ||||||
Lakeland Bancorp | 34 | 557 | ||||||
Lakeland Financial | 16 | 1,070 | ||||||
Lazard, Cl A | 78 | 3,682 | ||||||
Lemonade * | 24 | 2,089 | ||||||
LendingClub * | 67 | 1,635 | ||||||
LendingTree * | 7 | 1,367 | ||||||
Lincoln National | 134 | 8,257 | ||||||
Live Oak Bancshares | 20 | 1,204 | ||||||
Loews | 168 | 9,010 | ||||||
LPL Financial Holdings | 56 | 7,898 | ||||||
M&T Bank | 95 | 12,716 | ||||||
Macatawa Bank | 19 | 158 | ||||||
Markel * | 9 | 10,856 | ||||||
MarketAxess Holdings | 26 | 12,354 | ||||||
Marsh & McLennan | 378 | 55,649 | ||||||
MBIA * | 33 | 431 | ||||||
Mercantile Bank | 10 | 312 | ||||||
Merchants Bancorp | 6 | 220 | ||||||
Mercury General | 19 | 1,156 | ||||||
Meridian Bancorp | 33 | 631 | ||||||
Meta Financial Group | 21 | 1,044 | ||||||
Metrocity Bankshares | 12 | 240 | ||||||
MFA Financial ‡ | 294 | 1,373 | ||||||
MGIC Investment | 250 | 3,460 | ||||||
Midland States Bancorp | 14 | 345 | ||||||
MidWestOne Financial Group | 10 | 291 | ||||||
Moelis, Cl A | 41 | 2,429 | ||||||
Moody’s | 139 | 52,264 | ||||||
Morgan Stanley | 1,061 | 101,835 | ||||||
Morningstar | 17 | 4,295 | ||||||
Mr Cooper Group * | 54 | 2,008 | ||||||
MSCI, Cl A | 57 | 33,970 | ||||||
MVB Financial | 6 | 249 | ||||||
Nasdaq | 81 | 15,125 | ||||||
National Bank Holdings, Cl A | 21 | 745 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
FINANCIALS— continued |
| |||||||
National Western Life Group, Cl A | 2 | $ | 416 | |||||
Navient | 131 | 2,676 | ||||||
NBT Bancorp | 30 | 1,045 | ||||||
Nelnet, Cl A | 12 | 904 | ||||||
New Residential Investment ‡ | 345 | 3,367 | ||||||
New York Community Bancorp | 338 | 3,982 | ||||||
New York Mortgage Trust ‡ | 285 | 1,245 | ||||||
Nicolet Bankshares * | 6 | 434 | ||||||
NMI Holdings, Cl A * | 58 | 1,277 | ||||||
Northern Trust | 152 | 17,153 | ||||||
Northfield Bancorp | 32 | 526 | ||||||
Northrim BanCorp | 4 | 163 | ||||||
Northwest Bancshares | 85 | 1,131 | ||||||
OceanFirst Financial | 41 | 799 | ||||||
Old National Bancorp | 122 | 1,963 | ||||||
Old Republic International | 211 | 5,203 | ||||||
Old Second Bancorp | 19 | 220 | ||||||
OneMain Holdings, Cl A | 59 | 3,599 | ||||||
Open Lending, Cl A * | 59 | 2,242 | ||||||
Oportun Financial * | 10 | 211 | ||||||
Oppenheimer Holdings, Cl A | 6 | 270 | ||||||
Orchid Island Capital, Cl A ‡ | 71 | 351 | ||||||
Origin Bancorp | 14 | 570 | ||||||
Orrstown Financial Services | 7 | 161 | ||||||
Pacific Premier Bancorp | 64 | 2,431 | ||||||
PacWest Bancorp | 79 | 3,146 | ||||||
Palomar Holdings * | 16 | 1,303 | ||||||
Park National | 10 | 1,139 | ||||||
PCSB Financial | 9 | 162 | ||||||
Peapack-Gladstone Financial | 11 | 354 | ||||||
PennyMac Financial Services | 37 | 2,327 | ||||||
PennyMac Mortgage Investment Trust ‡ | 73 | 1,440 | ||||||
Peoples Bancorp | 12 | 354 | ||||||
Peoples Financial Services | 4 | 172 | ||||||
People’s United Financial | 314 | 4,930 | ||||||
Pinnacle Financial Partners | 52 | 4,660 | ||||||
Piper Sandler | 11 | 1,350 | ||||||
PJT Partners | 15 | 1,173 | ||||||
PNC Financial Services Group | 316 | 57,642 | ||||||
PRA Group * | 31 | 1,202 | ||||||
Premier Financial | 26 | 696 | ||||||
Primerica | 28 | 4,094 | ||||||
Primis Financial | 13 | 202 | ||||||
Principal Financial Group | 203 | 12,612 | ||||||
ProAssurance | 38 | 771 | ||||||
Progressive | 433 | 41,204 | ||||||
Prosperity Bancshares | 63 | 4,296 | ||||||
Provident Financial Services | 51 | 1,102 | ||||||
Prudential Financial | 296 | 29,683 | ||||||
QCR Holdings | 10 | 491 | ||||||
Radian Group | 142 | 3,206 |
9
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
FINANCIALS— continued |
| |||||||
Raymond James Financial | 91 | $ | 11,783 | |||||
RBB Bancorp | 10 | 239 | ||||||
Ready Capital ‡ | 49 | 741 | ||||||
Red River Bancshares | 3 | 153 | ||||||
Redwood Trust ‡ | 84 | 997 | ||||||
Regional Management | 6 | 310 | ||||||
Regions Financial | 715 | 13,764 | ||||||
Reinsurance Group of America, Cl A | 48 | 5,289 | ||||||
Reliant Bancorp | 9 | 250 | ||||||
Renasant | 38 | 1,337 | ||||||
Republic Bancorp, Cl A | 6 | 293 | ||||||
RLI | 28 | 3,035 | ||||||
Rocket, Cl A | 90 | 1,552 | ||||||
S&P Global | 179 | 76,741 | ||||||
S&T Bancorp | 27 | 795 | ||||||
Safety Insurance Group | 9 | 690 | ||||||
Sandy Spring Bancorp | 33 | 1,372 | ||||||
Santander Consumer USA Holdings | 43 | 1,764 | ||||||
Sculptor Capital Management, Cl A | 13 | 302 | ||||||
Seacoast Banking Corp of Florida | 38 | 1,155 | ||||||
SEI Investments | 89 | 5,411 | ||||||
Selective Insurance Group | 42 | 3,417 | ||||||
Selectquote * | 53 | 943 | ||||||
ServisFirst Bancshares | 34 | 2,417 | ||||||
Sierra Bancorp | 9 | 217 | ||||||
Signature Bank NY | 40 | 9,079 | ||||||
Silvergate Capital, Cl A * | 15 | 1,542 | ||||||
Simmons First National, Cl A | 75 | 2,041 | ||||||
SLM | 237 | 4,463 | ||||||
SmartFinancial | 9 | 219 | ||||||
South State | 49 | 3,373 | ||||||
Southern First Bancshares * | 5 | 248 | ||||||
Southern Missouri Bancorp | 5 | 224 | ||||||
Southside Bancshares | 22 | 793 | ||||||
Spirit MTA *‡(A) | 23 | 18 | ||||||
Spirit of Texas Bancshares | 8 | 186 | ||||||
Starwood Property Trust ‡ | 206 | 5,362 | ||||||
State Auto Financial | 11 | 550 | ||||||
State Street | 258 | 22,482 | ||||||
StepStone Group, Cl A | 20 | 910 | ||||||
Sterling Bancorp | 141 | 3,061 | ||||||
Stewart Information Services | 19 | 1,121 | ||||||
Stifel Financial | 72 | 4,791 | ||||||
Stock Yards Bancorp | 14 | 667 | ||||||
StoneX Group * | 10 | 645 | ||||||
Summit Financial Group | 7 | 163 | ||||||
SVB Financial Group * | 39 | 21,448 | ||||||
Synchrony Financial | 429 | 20,172 | ||||||
Synovus Financial | 110 | 4,499 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
FINANCIALS— continued |
| |||||||
T Rowe Price Group | 171 | $ | 34,911 | |||||
Texas Capital Bancshares * | 35 | 2,204 | ||||||
TFS Financial | 36 | 701 | ||||||
Tiptree | 12 | 115 | ||||||
Tompkins Financial | 8 | 614 | ||||||
TPG RE Finance Trust ‡ | 42 | 553 | ||||||
Tradeweb Markets, Cl A | 72 | 6,245 | ||||||
Travelers | 187 | 27,848 | ||||||
TriCo Bancshares | 17 | 670 | ||||||
TriState Capital Holdings * | 20 | 406 | ||||||
Triumph Bancorp * | 15 | 1,150 | ||||||
Truist Financial | 1,001 | 54,484 | ||||||
Trupanion * | 21 | 2,415 | ||||||
TrustCo Bank NY | 13 | 437 | ||||||
Trustmark | 40 | 1,201 | ||||||
Two Harbors Investment ‡ | 206 | 1,320 | ||||||
UMB Financial | 31 | 2,902 | ||||||
Umpqua Holdings | 164 | 3,095 | ||||||
United Bankshares | 94 | 3,247 | ||||||
United Community Banks | 61 | 1,757 | ||||||
United Fire Group | 16 | 399 | ||||||
Universal Insurance Holdings | 20 | 283 | ||||||
Univest Financial | 19 | 520 | ||||||
US Bancorp | 1,120 | 62,205 | ||||||
Valley National Bancorp | 297 | 3,828 | ||||||
Veritex Holdings | 33 | 1,107 | ||||||
Victory Capital Holdings, Cl A | 10 | 305 | ||||||
Virtu Financial, Cl A | 69 | 1,776 | ||||||
Virtus Investment Partners | 5 | 1,381 | ||||||
Voya Financial | 85 | 5,474 | ||||||
Walker & Dunlop | 20 | 2,070 | ||||||
Washington Federal | 51 | 1,646 | ||||||
Washington Trust Bancorp | 11 | 536 | ||||||
Waterstone Financial | 14 | 276 | ||||||
Webster Financial | 63 | 3,030 | ||||||
Wells Fargo | 3,072 | 141,128 | ||||||
WesBanco | 46 | 1,485 | ||||||
West Bancorporation | 9 | 265 | ||||||
Westamerica Bancorporation | 17 | 944 | ||||||
Western Alliance Bancorp | 68 | 6,312 | ||||||
White Mountains Insurance Group | 2 | 2,263 | ||||||
Willis Towers Watson | 94 | 19,372 | ||||||
Wintrust Financial | 40 | 2,856 | ||||||
WisdomTree Investments | 78 | 482 | ||||||
World Acceptance * | 4 | 758 | ||||||
WR Berkley | 109 | 7,976 | ||||||
WSFS Financial | 33 | 1,445 | ||||||
Zions Bancorp | 120 | 6,258 | ||||||
|
| |||||||
3,531,243 | ||||||||
|
| |||||||
HEALTH CARE — 6.6% | ||||||||
1Life Healthcare * | 76 | 2,055 |
10
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
HEALTH CARE— continued |
| |||||||
Abbott Laboratories | 1,307 | $ | 158,121 | |||||
ABIOMED * | 31 | 10,141 | ||||||
Acadia Healthcare * | 62 | 3,827 | ||||||
ACADIA Pharmaceuticals * | 118 | 2,552 | ||||||
Accelerate Diagnostics * | 24 | 179 | ||||||
Acceleron Pharma * | 37 | 4,627 | ||||||
Accolade * | 33 | 1,545 | ||||||
Accuray * | 63 | 258 | ||||||
Aclaris Therapeutics * | 26 | 388 | ||||||
AdaptHealth, Cl A * | 46 | 1,030 | ||||||
Adaptive Biotechnologies * | 99 | 3,629 | ||||||
Addus HomeCare * | 10 | 868 | ||||||
Adicet Bio * | 16 | 118 | ||||||
Adverum Biotechnologies * | 64 | 145 | ||||||
Aeglea BioTherapeutics * | 31 | 190 | ||||||
Aerie Pharmaceuticals * | 32 | 505 | ||||||
Agenus * | 131 | 679 | ||||||
Agios Pharmaceuticals * | 44 | 2,116 | ||||||
Akebia Therapeutics * | 113 | 279 | ||||||
Akero Therapeutics * | 13 | 279 | ||||||
Akouos * | 13 | 141 | ||||||
Albireo Pharma * | 12 | 343 | ||||||
Aldeyra Therapeutics * | 31 | 276 | ||||||
Alector * | 40 | 961 | ||||||
Align Technology * | 53 | 36,877 | ||||||
Aligos Therapeutics * | 12 | 175 | ||||||
Alkermes * | 117 | 3,027 | ||||||
Allakos * | 24 | 1,909 | ||||||
Allogene Therapeutics * | 50 | 1,098 | ||||||
Allovir * | 19 | 364 | ||||||
Allscripts Healthcare Solutions * | 101 | 1,725 | ||||||
Alnylam Pharmaceuticals * | 82 | 14,673 | ||||||
Alphatec Holdings * | 41 | 604 | ||||||
Altimmune * | 22 | 200 | ||||||
ALX Oncology Holdings * | 12 | 703 | ||||||
Amedisys * | 23 | 5,994 | ||||||
American Well, Cl A * | 114 | 1,328 | ||||||
Amgen | 429 | 103,621 | ||||||
Amicus Therapeutics * | 194 | 1,802 | ||||||
AMN Healthcare Services * | 33 | 3,318 | ||||||
AnaptysBio * | 18 | 414 | ||||||
Anavex Life Sciences * | 48 | 862 | ||||||
AngioDynamics * | 26 | 692 | ||||||
ANI Pharmaceuticals * | 6 | 204 | ||||||
Annexon * | 18 | 379 | ||||||
Apellis Pharmaceuticals * | 45 | 2,880 | ||||||
Apollo Medical Holdings * | 21 | 1,856 | ||||||
Applied Molecular Transport * | 15 | 420 | ||||||
Applied Therapeutics * | 11 | 189 | ||||||
Apyx Medical * | 21 | 189 | ||||||
Arcturus Therapeutics Holdings * | 14 | 438 | ||||||
Arcus Biosciences * | 30 | 942 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
HEALTH CARE— continued |
| |||||||
Arcutis Biotherapeutics * | 22 | $ | 513 | |||||
Ardelyx * | 52 | 90 | ||||||
Arena Pharmaceuticals * | 42 | 2,598 | ||||||
Arrowhead Pharmaceuticals * | 68 | 4,712 | ||||||
Arvinas * | 26 | 2,629 | ||||||
Asensus Surgical * | 166 | 388 | ||||||
Aspira Women’s Health * | 41 | 184 | ||||||
AstraZeneca ADR | — | 15 | ||||||
Atara Biotherapeutics * | 56 | 714 | ||||||
Atea Pharmaceuticals * | 40 | 1,002 | ||||||
Athenex * | 54 | 204 | ||||||
Athersys * | 146 | 238 | ||||||
Athira Pharma * | 23 | 221 | ||||||
Atreca, Cl A * | 19 | 104 | ||||||
AtriCure * | 31 | 2,618 | ||||||
Atrion | 1 | 629 | ||||||
Avanos Medical * | 33 | 1,252 | ||||||
AVEO Pharmaceuticals * | 20 | 103 | ||||||
Avid Bioservices * | 43 | 1,103 | ||||||
Avidity Biosciences * | 22 | 425 | ||||||
Avita Medical * | 17 | 315 | ||||||
Avrobio * | 25 | 184 | ||||||
Axonics Modulation Technologies * | 22 | 1,495 | ||||||
Axsome Therapeutics * | 21 | 1,020 | ||||||
Beam Therapeutics * | 28 | 2,576 | ||||||
Berkeley Lights * | 32 | 1,459 | ||||||
Beyondspring * | 15 | 143 | ||||||
BioCryst Pharmaceuticals * | 130 | 2,096 | ||||||
BioDelivery Sciences International * | 71 | 267 | ||||||
Biohaven Pharmaceutical Holding * | 40 | 5,040 | ||||||
BioMarin Pharmaceutical * | 134 | 10,282 | ||||||
Bionano Genomics * | 207 | 1,228 | ||||||
Bioxcel Therapeutics * | 10 | 256 | ||||||
Black Diamond Therapeutics * | 18 | 172 | ||||||
Bluebird Bio * | 48 | 1,220 | ||||||
Blueprint Medicines * | 40 | 3,515 | ||||||
Boston Scientific * | 1,050 | 47,880 | ||||||
Bridgebio Pharma * | 73 | 3,902 | ||||||
Bristol-Myers Squibb | 1,667 | 113,139 | ||||||
Brookdale Senior Living * | 133 | 1,000 | ||||||
Bruker | 72 | 5,922 | ||||||
C4 Therapeutics * | 23 | 992 | ||||||
Cara Therapeutics * | 27 | 323 | ||||||
Cardiovascular Systems * | 27 | 1,088 | ||||||
CareDx * | 36 | 3,025 | ||||||
Cassava Sciences * | 26 | 1,808 | ||||||
Castle Biosciences * | 12 | 838 | ||||||
Catalent * | 125 | 14,976 | ||||||
Catalyst Pharmaceuticals * | 68 | 397 |
11
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
HEALTH CARE— continued |
| |||||||
Celldex Therapeutics * | 27 | $ | 1,181 | |||||
CEL-SCI * | 27 | 217 | ||||||
Cerner | 224 | 18,007 | ||||||
Cerus * | 123 | 620 | ||||||
Change Healthcare * | 182 | 3,951 | ||||||
Chemed | 10 | 4,760 | ||||||
ChemoCentryx * | 38 | 562 | ||||||
Chimerix * | 50 | 332 | ||||||
ChromaDex * | 32 | 278 | ||||||
Clovis Oncology * | 73 | 353 | ||||||
Codexis * | 42 | 889 | ||||||
Co-Diagnostics * | 19 | 192 | ||||||
Coherus Biosciences * | 48 | 626 | ||||||
Collegium Pharmaceutical * | 24 | 597 | ||||||
Computer Programs and Systems | 9 | 284 | ||||||
CONMED | 19 | 2,621 | ||||||
CorMedix * | 26 | 151 | ||||||
Cortexyme * | 9 | 509 | ||||||
CorVel * | 6 | 845 | ||||||
Covetrus * | 72 | 1,833 | ||||||
Crinetics Pharmaceuticals * | 20 | 360 | ||||||
Cross Country Healthcare * | 25 | 411 | ||||||
CryoLife * | 26 | 702 | ||||||
CryoPort * | 27 | 1,666 | ||||||
Cue Biopharma * | 18 | 188 | ||||||
Cutera * | 11 | 571 | ||||||
Cymabay Therapeutics * | 46 | 181 | ||||||
Cytokinetics * | 46 | 1,365 | ||||||
CytomX Therapeutics * | 44 | 238 | ||||||
CytoSorbents * | 27 | 205 | ||||||
DaVita * | 75 | 9,019 | ||||||
Deciphera Pharmaceuticals * | 25 | 762 | ||||||
Denali Therapeutics * | 58 | 2,960 | ||||||
DENTSPLY SIRONA | 161 | 10,632 | ||||||
DermTech * | 15 | 505 | ||||||
DexCom * | 71 | 36,601 | ||||||
Dicerna Pharmaceuticals * | 48 | 1,800 | ||||||
Durect * | 166 | 234 | ||||||
Dynavax Technologies, Cl A * | 73 | 682 | ||||||
Dyne Therapeutics * | 18 | 325 | ||||||
Eargo * | 10 | 360 | ||||||
Editas Medicine, Cl A * | 47 | 1,967 | ||||||
Edwards Lifesciences * | 457 | 51,307 | ||||||
Eiger BioPharmaceuticals * | 22 | 175 | ||||||
Elanco Animal Health * | 336 | 12,254 | ||||||
Eli Lilly | 591 | 143,909 | ||||||
Emergent BioSolutions * | 34 | 2,241 | ||||||
Enanta Pharmaceuticals * | 12 | 507 | ||||||
Encompass Health | 68 | 5,661 | ||||||
Ensign Group | 37 | 3,148 | ||||||
Envista Holdings * | 118 | 5,083 | ||||||
Epizyme * | 62 | 411 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
HEALTH CARE— continued |
| |||||||
Esperion Therapeutics * | 20 | $ | 308 | |||||
Evelo Biosciences * | 19 | 175 | ||||||
Evolent Health, Cl A * | 59 | 1,353 | ||||||
Evolus * | 14 | 151 | ||||||
Exact Sciences * | 124 | 13,372 | ||||||
Exelixis * | 227 | 3,825 | ||||||
Fate Therapeutics * | 62 | 5,134 | ||||||
FibroGen * | 60 | 780 | ||||||
Flexion Therapeutics * | 31 | 184 | ||||||
Forma Therapeutics Holdings * | 27 | 618 | ||||||
Fortress Biotech * | 46 | 143 | ||||||
Frequency Therapeutics * | 21 | 175 | ||||||
Fulgent Genetics * | 12 | 1,107 | ||||||
G1 Therapeutics * | 23 | 398 | ||||||
Generation Bio * | 29 | 630 | ||||||
Gilead Sciences | 941 | 64,261 | ||||||
Glaukos * | 31 | 1,581 | ||||||
Global Blood Therapeutics * | 43 | 1,175 | ||||||
Gossamer Bio * | 39 | 307 | ||||||
Gritstone bio * | 25 | 167 | ||||||
Guardant Health * | 62 | 6,808 | ||||||
Haemonetics * | 36 | 2,188 | ||||||
Halozyme Therapeutics * | 104 | 4,298 | ||||||
Hanger * | 26 | 638 | ||||||
Harmony Biosciences Holdings * | 20 | 523 | ||||||
Harpoon Therapeutics * | 15 | 147 | ||||||
Health Catalyst * | 29 | 1,684 | ||||||
HealthEquity * | 57 | 4,217 | ||||||
HealthStream * | 18 | 526 | ||||||
Heron Therapeutics * | 64 | 791 | ||||||
Heska * | 6 | 1,444 | ||||||
Hill-Rom Holdings | 47 | 6,508 | ||||||
Hologic * | 189 | 14,183 | ||||||
Homology Medicines * | 25 | 159 | ||||||
Horizon Therapeutics * | 164 | 16,403 | ||||||
iBio * | 159 | 197 | ||||||
iCAD * | 15 | 220 | ||||||
ICON PLC * | 18 | 4,379 | ||||||
ICU Medical * | 13 | 2,643 | ||||||
Ideaya Biosciences * | 17 | 417 | ||||||
IDEXX Laboratories * | 59 | 40,033 | ||||||
IGM Biosciences * | 9 | 612 | ||||||
ImmunityBio * | 46 | 504 | ||||||
ImmunoGen * | 147 | 825 | ||||||
Immunovant * | 29 | 303 | ||||||
Inari Medical * | 20 | 1,796 | ||||||
Incyte * | 162 | 12,531 | ||||||
Infinity Pharmaceuticals * | 61 | 129 | ||||||
InfuSystem Holdings * | 12 | 219 | ||||||
Innoviva * | 49 | 695 | ||||||
Inogen * | 14 | 1,117 | ||||||
Inovalon Holdings, Cl A * | 52 | 1,970 |
12
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
HEALTH CARE— continued |
| |||||||
Inovio Pharmaceuticals * | 152 | $ | 1,277 | |||||
Insmed * | 71 | 1,747 | ||||||
Inspire Medical Systems * | 19 | 3,480 | ||||||
Insulet * | 46 | 12,866 | ||||||
Integer Holdings * | 23 | 2,251 | ||||||
Integra LifeSciences Holdings * | 51 | 3,692 | ||||||
Intellia Therapeutics * | 43 | 6,100 | ||||||
Intercept Pharmaceuticals * | 18 | 311 | ||||||
Intersect ENT * | 22 | 514 | ||||||
Intra-Cellular Therapies * | 50 | 1,717 | ||||||
Intuitive Surgical * | 83 | 82,291 | ||||||
Invacare * | 23 | 166 | ||||||
Invitae * | 144 | 4,031 | ||||||
Ionis Pharmaceuticals * | 95 | 3,528 | ||||||
Iovance Biotherapeutics * | 105 | 2,338 | ||||||
iRhythm Technologies * | 19 | 971 | ||||||
Ironwood Pharmaceuticals, Cl A * | 117 | 1,553 | ||||||
IVERIC bio * | 55 | 475 | ||||||
Jazz Pharmaceuticals PLC * | 39 | 6,611 | ||||||
Joint * | 9 | 711 | ||||||
Jounce Therapeutics * | 21 | 106 | ||||||
Kadmon Holdings * | 123 | 462 | ||||||
Kala Pharmaceuticals * | 40 | 138 | ||||||
KalVista Pharmaceuticals * | 13 | 262 | ||||||
Karuna Therapeutics * | 15 | 1,713 | ||||||
Kezar Life Sciences * | 28 | 136 | ||||||
Kiniksa Pharmaceuticals, Cl A * | 22 | 337 | ||||||
Kodiak Sciences * | 30 | 2,515 | ||||||
Kronos Bio * | 25 | 511 | ||||||
Krystal Biotech * | 10 | 584 | ||||||
Kura Oncology * | 43 | 814 | ||||||
Kymera Therapeutics * | 16 | 963 | ||||||
Lantheus Holdings * | 46 | 1,204 | ||||||
LeMaitre Vascular | 13 | 708 | ||||||
Lexicon Pharmaceuticals * | 100 | 354 | ||||||
LHC Group * | 20 | 4,304 | ||||||
LivaNova * | 34 | 2,934 | ||||||
MacroGenics * | 41 | 1,023 | ||||||
Madrigal Pharmaceuticals * | 7 | 611 | ||||||
Magenta Therapeutics * | 22 | 157 | ||||||
MannKind * | 173 | 709 | ||||||
Marinus Pharmaceuticals * | 25 | 367 | ||||||
Masimo * | 36 | 9,806 | ||||||
MEI Pharma * | 75 | 203 | ||||||
MeiraGTx Holdings * | 25 | 350 | ||||||
Meridian Bioscience * | 30 | 615 | ||||||
Merit Medical Systems * | 38 | 2,663 | ||||||
Mersana Therapeutics * | 45 | 495 | ||||||
Mesa Laboratories | 3 | 884 | ||||||
Mettler-Toledo International * | 15 | 22,106 | ||||||
Mirati Therapeutics * | 34 | 5,442 | ||||||
Mirum Pharmaceuticals * | 10 | 144 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
HEALTH CARE— continued |
| |||||||
Misonix * | 9 | $ | 239 | |||||
Moderna * | 251 | 88,754 | ||||||
ModivCare * | 9 | 1,530 | ||||||
Molecular Templates * | 29 | 203 | ||||||
Morphic Holding * | 13 | 749 | ||||||
Mustang Bio * | 50 | 144 | ||||||
Myovant Sciences * | 23 | 472 | ||||||
Myriad Genetics * | 52 | 1,645 | ||||||
NanoString Technologies * | 33 | 2,044 | ||||||
Natera * | 57 | 6,528 | ||||||
National HealthCare | 8 | 621 | ||||||
National Research | 13 | 686 | ||||||
Natus Medical * | 23 | 614 | ||||||
Nektar Therapeutics, Cl A * | 133 | 2,100 | ||||||
Neogen * | 76 | 3,311 | ||||||
Neoleukin Therapeutics * | 23 | 161 | ||||||
Neurocrine Biosciences * | 66 | 6,152 | ||||||
Neuronetics * | 14 | 186 | ||||||
Nevro * | 24 | 3,720 | ||||||
NextGen Healthcare * | 38 | 616 | ||||||
NGM Biopharmaceuticals * | 16 | 326 | ||||||
Nkarta * | 11 | 349 | ||||||
Novavax * | 52 | 9,325 | ||||||
Nurix Therapeutics * | 18 | 553 | ||||||
Oak Street Health * | 63 | 3,972 | ||||||
Ocular Therapeutix * | 51 | 562 | ||||||
Omeros * | 42 | 609 | ||||||
Omnicell * | 30 | 4,395 | ||||||
Oncocyte * | 56 | 288 | ||||||
Ontrak * | 5 | 135 | ||||||
OptimizeRx * | 9 | 497 | ||||||
Option Care Health * | 66 | 1,368 | ||||||
OraSure Technologies * | 50 | 589 | ||||||
ORIC Pharmaceuticals * | 20 | 333 | ||||||
OrthoPediatrics * | 9 | 566 | ||||||
Outset Medical * | 28 | 1,147 | ||||||
Owens & Minor | 49 | 2,266 | ||||||
Oyster Point Pharma * | 6 | 85 | ||||||
Pacific Biosciences of California * | 129 | 4,147 | ||||||
Pacira BioSciences * | 30 | 1,768 | ||||||
Paratek Pharmaceuticals * | 27 | 140 | ||||||
Passage Bio * | 22 | 260 | ||||||
Patterson | 60 | 1,868 | ||||||
PAVmed * | 51 | 350 | ||||||
PDL BioPharma *(A) | 64 | — | ||||||
Pennant Group * | 17 | 582 | ||||||
Penumbra * | 24 | 6,390 | ||||||
Personalis * | 25 | 525 | ||||||
PetIQ, Cl A * | 17 | 601 | ||||||
Phathom Pharmaceuticals * | 10 | 321 | ||||||
Phibro Animal Health, Cl A | 13 | 308 | ||||||
Phreesia * | 30 | 2,050 |
13
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
HEALTH CARE— continued |
| |||||||
Pliant Therapeutics * | 18 | $ | 364 | |||||
PMV Pharmaceuticals * | 21 | 714 | ||||||
Poseida Therapeutics * | 24 | 195 | ||||||
Praxis Precision Medicines * | 16 | 250 | ||||||
Precision BioSciences * | 32 | 316 | ||||||
Prelude Therapeutics * | 30 | 961 | ||||||
Premier, Cl A | 90 | 3,208 | ||||||
Prestige Consumer Healthcare * | 35 | 1,839 | ||||||
Progyny * | 31 | 1,726 | ||||||
Protagonist Therapeutics * | 27 | 1,335 | ||||||
Provention Bio * | 36 | 219 | ||||||
PTC Therapeutics * | 48 | 1,840 | ||||||
Pulmonx * | 13 | 516 | ||||||
Pulse Biosciences * | 8 | 164 | ||||||
Puma Biotechnology * | 24 | 180 | ||||||
Quanterix * | 20 | 1,063 | ||||||
Quest Diagnostics | 97 | 13,755 | ||||||
Quidel * | 26 | 3,678 | ||||||
R1 RCM * | 83 | 1,777 | ||||||
Radius Health * | 33 | 499 | ||||||
RadNet * | 31 | 1,139 | ||||||
RAPT Therapeutics * | 10 | 307 | ||||||
Reata Pharmaceuticals, Cl A * | 21 | 2,632 | ||||||
Regeneron Pharmaceuticals * | 72 | 41,372 | ||||||
REGENXBIO * | 26 | 840 | ||||||
Relay Therapeutics * | 33 | 1,071 | ||||||
Relmada Therapeutics * | 10 | 260 | ||||||
Replimune Group * | 21 | 687 | ||||||
ResMed | 107 | 29,083 | ||||||
Revance Therapeutics * | 48 | 1,396 | ||||||
REVOLUTION Medicines * | 39 | 1,117 | ||||||
Rhythm Pharmaceuticals * | 30 | 519 | ||||||
Rigel Pharmaceuticals * | 126 | 504 | ||||||
Rocket Pharmaceuticals * | 41 | 1,469 | ||||||
Royalty Pharma, Cl A | 227 | 8,671 | ||||||
Rubius Therapeutics * | 29 | 623 | ||||||
Sage Therapeutics * | 36 | 1,574 | ||||||
Sangamo Therapeutics * | 88 | 843 | ||||||
Sarepta Therapeutics * | 53 | 3,592 | ||||||
Scholar Rock Holding * | 18 | 562 | ||||||
Schrodinger * | 35 | 2,368 | ||||||
Seagen * | 133 | 20,401 | ||||||
SeaSpine Holdings * | 18 | 353 | ||||||
Select Medical Holdings | 78 | 3,077 | ||||||
Selecta Biosciences * | 55 | 190 | ||||||
Senseonics Holdings * | 239 | 734 | ||||||
Seres Therapeutics * | 48 | 341 | ||||||
Shattuck Labs * | 22 | 485 | ||||||
Shockwave Medical * | 17 | 3,094 | ||||||
SI-BONE * | 21 | 637 | ||||||
Sientra * | 36 | 297 | ||||||
SIGA Technologies * | 31 | 197 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
HEALTH CARE— continued |
| |||||||
Silk Road Medical * | 23 | $ | 1,154 | |||||
Simulations Plus | 10 | 472 | ||||||
SmileDirectClub, Cl A * | 74 | 522 | ||||||
Solid Biosciences * | 56 | 156 | ||||||
Sorrento Therapeutics * | 194 | 1,593 | ||||||
Spectrum Pharmaceuticals * | 113 | 364 | ||||||
Spero Therapeutics * | 16 | 213 | ||||||
SpringWorks Therapeutics * | 26 | 2,228 | ||||||
STAAR Surgical * | 33 | 4,221 | ||||||
Stereotaxis * | 44 | 401 | ||||||
STERIS | 68 | 14,821 | ||||||
Stoke Therapeutics * | 12 | 344 | ||||||
Supernus Pharmaceuticals * | 36 | 948 | ||||||
Surmodics * | 9 | 496 | ||||||
Sutro Biopharma * | 25 | 426 | ||||||
Syndax Pharmaceuticals * | 30 | 437 | ||||||
Syneos Health, Cl A * | 59 | 5,291 | ||||||
Syros Pharmaceuticals * | 30 | 139 | ||||||
Tabula Rasa HealthCare * | 15 | 644 | ||||||
Tactile Systems Technology * | 12 | 588 | ||||||
Tandem Diabetes Care * | 43 | 4,673 | ||||||
Taysha Gene Therapies * | 13 | 225 | ||||||
TCR2 Therapeutics * | 23 | 286 | ||||||
Teladoc Health * | 102 | 15,142 | ||||||
Teleflex | 33 | 13,115 | ||||||
TG Therapeutics * | 97 | 3,394 | ||||||
Theravance Biopharma * | 36 | 467 | ||||||
Tivity Health * | 30 | 752 | ||||||
Translate Bio * | 46 | 1,271 | ||||||
TransMedics Group * | 16 | 456 | ||||||
Travere Therapeutics * | 42 | 577 | ||||||
Turning Point Therapeutics * | 32 | 2,042 | ||||||
Twist Bioscience * | 29 | 3,568 | ||||||
Ultragenyx Pharmaceutical * | 45 | 3,592 | ||||||
United Therapeutics * | 31 | 5,640 | ||||||
US Physical Therapy | 8 | 945 | ||||||
Vanda Pharmaceuticals * | 38 | 620 | ||||||
Vapotherm * | 13 | 336 | ||||||
Varex Imaging * | 27 | 737 | ||||||
Vaxart * | 83 | 597 | ||||||
Vaxcyte * | 20 | 434 | ||||||
Veeva Systems, Cl A * | 101 | 33,604 | ||||||
Veracyte * | 47 | 2,094 | ||||||
Verastem * | 125 | 404 | ||||||
ViewRay * | 91 | 604 | ||||||
Viking Therapeutics * | 49 | 301 | ||||||
Vir Biotechnology * | 43 | 1,533 | ||||||
Vocera Communications * | 23 | 965 | ||||||
Waters * | 43 | 16,762 | ||||||
West Pharmaceutical Services | 52 | 21,410 | ||||||
Xencor * | 41 | 1,262 | ||||||
Xeris Pharmaceuticals * | 45 | 138 |
14
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
HEALTH CARE— continued |
| |||||||
XOMA * | 7 | $ | 227 | |||||
Y-mAbs Therapeutics * | 24 | 794 | ||||||
Zentalis Pharmaceuticals * | 25 | 1,330 | ||||||
Zimmer Biomet Holdings | 155 | 25,330 | ||||||
ZIOPHARM Oncology * | 145 | 329 | ||||||
Zoetis, Cl A | 352 | 71,350 | ||||||
Zogenix * | 38 | 616 | ||||||
Zynex * | 13 | 181 | ||||||
|
| |||||||
1,994,619 | ||||||||
|
| |||||||
INDUSTRIALS — 8.5% |
| |||||||
3M | 432 | 85,510 | ||||||
AAON | 29 | 1,802 | ||||||
AAR * | 24 | 858 | ||||||
ABM Industries | 47 | 2,185 | ||||||
Acacia Research * | 33 | 186 | ||||||
ACCO Brands | 65 | 581 | ||||||
Acuity Brands | 25 | 4,385 | ||||||
ADT | 106 | 1,112 | ||||||
Advanced Drainage Systems | 38 | 4,639 | ||||||
AECOM * | 108 | 6,800 | ||||||
AeroVironment * | 15 | 1,517 | ||||||
AGCO | 45 | 5,945 | ||||||
Air Lease, Cl A | 75 | 3,177 | ||||||
Air Transport Services Group * | 41 | 992 | ||||||
Alamo Group | 7 | 1,027 | ||||||
Alaska Air Group * | 92 | 5,339 | ||||||
Albany International, Cl A | 20 | 1,727 | ||||||
Allegiant Travel, Cl A * | 9 | 1,711 | ||||||
Allegion | 64 | 8,742 | ||||||
Allied Motion Technologies | 8 | 263 | ||||||
Allison Transmission Holdings | 77 | 3,073 | ||||||
Altra Industrial Motion | 45 | 2,821 | ||||||
AMERCO | 6 | 3,528 | ||||||
Ameresco, Cl A * | 20 | 1,371 | ||||||
American Airlines Group * | 469 | 9,558 | ||||||
American Superconductor * | 16 | 225 | ||||||
American Woodmark * | 11 | 817 | ||||||
AMETEK | 170 | 23,639 | ||||||
AO Smith | 98 | 6,892 | ||||||
API Group * | 138 | 3,163 | ||||||
Apogee Enterprises | 18 | 714 | ||||||
Applied Industrial Technologies | 27 | 2,422 | ||||||
ArcBest | 16 | 946 | ||||||
Arcosa | 34 | 1,862 | ||||||
Argan | 10 | 449 | ||||||
Armstrong World Industries | 33 | 3,570 | ||||||
Array Technologies * | 94 | 1,273 | ||||||
ASGN * | 36 | 3,641 | ||||||
Astec Industries | 16 | 981 | ||||||
Astronics * | 17 | 290 | ||||||
Atkore International Group * | 33 | 2,479 | ||||||
Atlas Air Worldwide Holdings * | 20 | 1,339 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INDUSTRIALS— continued |
| |||||||
Avis Budget Group * | 49 | $ | 4,056 | |||||
Axon Enterprise * | 45 | 8,371 | ||||||
AZEK, Cl A * | 111 | 4,037 | ||||||
AZZ | 16 | 848 | ||||||
Babcock & Wilcox Enterprises * | 59 | 422 | ||||||
Barnes Group | 33 | 1,672 | ||||||
Barrett Business Services | 5 | 366 | ||||||
Beacon Roofing Supply * | 39 | 2,086 | ||||||
Bloom Energy, Cl A * | 102 | 2,224 | ||||||
Blue Bird * | 11 | 275 | ||||||
BlueLinx Holdings * | 6 | 258 | ||||||
Boise Cascade | 27 | 1,381 | ||||||
Brady, Cl A | 33 | 1,804 | ||||||
BrightView Holdings * | 35 | 561 | ||||||
Brink’s | 35 | 2,694 | ||||||
Builders FirstSource * | 151 | 6,719 | ||||||
CAI International | 10 | 558 | ||||||
Carlisle | 37 | 7,483 | ||||||
Carrier Global | 646 | 35,692 | ||||||
Casella Waste Systems, Cl A * | 35 | 2,407 | ||||||
Caterpillar | 405 | 83,734 | ||||||
CBIZ * | 36 | 1,164 | ||||||
CH Robinson Worldwide | 97 | 8,649 | ||||||
Chart Industries * | 25 | 3,886 | ||||||
Cintas | 63 | 24,833 | ||||||
CIRCOR International * | 13 | 401 | ||||||
Clean Harbors * | 36 | 3,420 | ||||||
Colfax * | 80 | 3,670 | ||||||
Columbus McKinnon | 15 | 696 | ||||||
Comfort Systems USA | 25 | 1,869 | ||||||
Commercial Vehicle Group * | 20 | 183 | ||||||
Construction Partners, Cl A * | 24 | 806 | ||||||
Copart * | 157 | 23,079 | ||||||
Cornerstone Building Brands * | 36 | 606 | ||||||
CoStar Group * | 289 | 25,678 | ||||||
Covanta Holding | 96 | 1,930 | ||||||
CRA International | 5 | 429 | ||||||
Crane | 35 | 3,403 | ||||||
CSW Industrials | 10 | 1,183 | ||||||
CSX | 1,691 | 54,653 | ||||||
Cummins | 108 | 25,067 | ||||||
Curtiss-Wright | 29 | 3,431 | ||||||
Daseke * | 27 | 187 | ||||||
Deere | 209 | 75,572 | ||||||
Delta Air Lines * | 472 | 18,833 | ||||||
Deluxe | 29 | 1,273 | ||||||
Donaldson | 93 | 6,156 | ||||||
Douglas Dynamics | 16 | 638 | ||||||
Dover | 106 | 17,715 | ||||||
Dun & Bradstreet Holdings * | 126 | 2,641 | ||||||
DXP Enterprises * | 13 | 424 | ||||||
Dycom Industries * | 21 | 1,457 |
15
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INDUSTRIALS— continued |
| |||||||
Eagle Bulk Shipping * | 8 | $ | 334 | |||||
Eaton | 296 | 46,783 | ||||||
Echo Global Logistics * | 17 | 526 | ||||||
EMCOR Group | 38 | 4,629 | ||||||
Emerson Electric | 444 | 44,795 | ||||||
Encore Wire | 13 | 1,020 | ||||||
Energy Recovery * | 27 | 571 | ||||||
Enerpac Tool Group, Cl A | 42 | 1,078 | ||||||
EnerSys | 29 | 2,861 | ||||||
Ennis | 18 | 356 | ||||||
EnPro Industries | 13 | 1,211 | ||||||
Equifax | 91 | 23,715 | ||||||
ESCO Technologies | 18 | 1,699 | ||||||
Evoqua Water Technologies * | 83 | 2,740 | ||||||
ExOne * | 11 | 183 | ||||||
Expeditors International of Washington | 112 | 14,364 | ||||||
Exponent | 36 | 3,855 | ||||||
Fastenal | 427 | 23,387 | ||||||
Federal Signal | 42 | 1,664 | ||||||
FedEx | 182 | 50,951 | ||||||
Flowserve | 97 | 4,083 | ||||||
Fluor * | 102 | 1,699 | ||||||
Forrester Research * | 7 | 328 | ||||||
Fortune Brands Home & Security | 102 | 9,942 | ||||||
Forward Air | 19 | 1,680 | ||||||
Franklin Covey * | 8 | 293 | ||||||
Franklin Electric | 27 | 2,208 | ||||||
FTI Consulting * | 24 | 3,497 | ||||||
FuelCell Energy * | 229 | 1,450 | ||||||
Gates Industrial * | 46 | 833 | ||||||
GATX | 25 | 2,306 | ||||||
Genco Shipping & Trading | 27 | 474 | ||||||
Generac Holdings * | 44 | 18,452 | ||||||
Gibraltar Industries * | 23 | 1,718 | ||||||
Global Industrial | 9 | 356 | ||||||
GMS * | 29 | 1,425 | ||||||
Gorman-Rupp | 11 | 393 | ||||||
Graco | 124 | 9,682 | ||||||
GrafTech International | 126 | 1,433 | ||||||
Granite Construction | 32 | 1,229 | ||||||
Great Lakes Dredge & Dock * | 45 | 693 | ||||||
Greenbrier | 22 | 942 | ||||||
Griffon | 37 | 855 | ||||||
H&E Equipment Services | 22 | 749 | ||||||
Harsco * | 54 | 1,086 | ||||||
Hawaiian Holdings * | 35 | 691 | ||||||
Healthcare Services Group | 52 | 1,357 | ||||||
Heartland Express | 33 | 562 | ||||||
HEICO | 30 | 4,058 | ||||||
Heidrick & Struggles International | 14 | 598 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INDUSTRIALS— continued |
| |||||||
Helios Technologies | 21 | $ | 1,698 | |||||
Herc Holdings * | 21 | 2,605 | ||||||
Heritage-Crystal Clean * | 10 | 282 | ||||||
Herman Miller | 51 | 2,201 | ||||||
Hexcel * | 59 | 3,211 | ||||||
Hillenbrand | 52 | 2,356 | ||||||
HNI | 30 | 1,119 | ||||||
Honeywell International | 517 | 120,869 | ||||||
Howmet Aerospace | 319 | 10,470 | ||||||
Hub Group, Cl A * | 23 | 1,524 | ||||||
Hubbell, Cl B | 38 | 7,617 | ||||||
Huron Consulting Group * | 16 | 786 | ||||||
Hyster-Yale Materials Handling | 4 | 287 | ||||||
IAA * | 100 | 6,048 | ||||||
ICF International | 12 | 1,099 | ||||||
IDEX | 49 | 11,108 | ||||||
IES Holdings * | 13 | 707 | ||||||
IHS Markit | 294 | 34,351 | ||||||
Illinois Tool Works | 235 | 53,267 | ||||||
Ingersoll Rand * | 277 | 13,537 | ||||||
Insperity | 25 | 2,476 | ||||||
Insteel Industries | 12 | 466 | ||||||
Interface, Cl A | 40 | 577 | ||||||
ITT | 60 | 5,875 | ||||||
Jacobs Engineering Group | 96 | 12,984 | ||||||
JB Hunt Transport Services | 59 | 9,939 | ||||||
JELD-WEN Holding * | 54 | 1,430 | ||||||
JetBlue Airways * | 233 | 3,446 | ||||||
John Bean Technologies | 22 | 3,225 | ||||||
Johnson Controls International | 535 | 38,210 | ||||||
Kadant | 7 | 1,261 | ||||||
Kansas City Southern | 64 | 17,139 | ||||||
KAR Auction Services * | 87 | 1,434 | ||||||
KBR | 104 | 4,025 | ||||||
Kelly Services, Cl A * | 24 | 526 | ||||||
Kennametal | 56 | 2,030 | ||||||
Kforce | 13 | 812 | ||||||
Kimball International, Cl B | 25 | 310 | ||||||
Kirby * | 42 | 2,432 | ||||||
Knight-Swift Transportation Holdings, Cl A | 112 | 5,565 | ||||||
Korn Ferry | 37 | 2,543 | ||||||
Landstar System | 27 | 4,239 | ||||||
Lawson Products * | 6 | 315 | ||||||
Lennox International | 24 | 7,906 | ||||||
Lincoln Electric Holdings | 40 | 5,577 | ||||||
Lindsay | 7 | 1,125 | ||||||
LSI Industries | 16 | 120 | ||||||
Lydall * | 11 | 673 | ||||||
Lyft, Cl A * | 195 | 10,787 | ||||||
Macquarie Infrastructure | 62 | 2,449 | ||||||
Manitowoc * | 24 | 556 |
16
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INDUSTRIALS— continued |
| |||||||
ManpowerGroup | 38 | $ | 4,506 | |||||
Marten Transport | 45 | 712 | ||||||
Masco | 188 | 11,225 | ||||||
MasTec * | 40 | 4,049 | ||||||
Matrix Service * | 18 | 196 | ||||||
Matson | 30 | 2,014 | ||||||
Matthews International, Cl A | 22 | 761 | ||||||
Maxar Technologies | 47 | 1,705 | ||||||
McGrath RentCorp | 17 | 1,333 | ||||||
Meritor * | 49 | 1,192 | ||||||
Mesa Air Group * | 22 | 196 | ||||||
Middleby * | 39 | 7,468 | ||||||
Miller Industries | 7 | 263 | ||||||
Montrose Environmental Group * | 14 | 752 | ||||||
Moog, Cl A | 19 | 1,480 | ||||||
MRC Global * | 55 | 504 | ||||||
MSA Safety | 26 | 4,276 | ||||||
MSC Industrial Direct, Cl A | 32 | 2,853 | ||||||
Mueller Industries | 39 | 1,693 | ||||||
Mueller Water Products, Cl A | 115 | 1,704 | ||||||
MYR Group * | 11 | 1,052 | ||||||
Nielsen Holdings | 263 | 6,230 | ||||||
Nikola * | 125 | 1,484 | ||||||
NN * | 29 | 198 | ||||||
Nordson | 36 | 8,141 | ||||||
Norfolk Southern | 187 | 48,214 | ||||||
Northwest Pipe * | 6 | 170 | ||||||
NOW * | 77 | 760 | ||||||
NV5 Global * | 7 | 665 | ||||||
nVent Electric | 124 | 3,920 | ||||||
Old Dominion Freight Line | 73 | 19,648 | ||||||
Omega Flex | 2 | 314 | ||||||
Oshkosh | 48 | 5,738 | ||||||
Otis Worldwide | 320 | 28,656 | ||||||
Owens Corning | 73 | 7,020 | ||||||
PACCAR | 254 | 21,079 | ||||||
Park Aerospace | 12 | 179 | ||||||
Parker-Hannifin | 91 | 28,395 | ||||||
Park-Ohio Holdings | 5 | 145 | ||||||
Parsons * | 72 | 2,781 | ||||||
Pentair | 123 | 9,061 | ||||||
PGT Innovations * | 40 | 903 | ||||||
Pitney Bowes | 122 | 976 | ||||||
Plug Power * | 373 | 10,175 | ||||||
Powell Industries | 6 | 175 | ||||||
Primoris Services | 36 | 1,076 | ||||||
Proto Labs * | 18 | 1,407 | ||||||
Quanex Building Products | 23 | 571 | ||||||
Quanta Services | 102 | 9,272 | ||||||
Radiant Logistics * | 25 | 155 | ||||||
Raven Industries | 25 | 1,456 | ||||||
RBC Bearings * | 16 | 3,760 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INDUSTRIALS— continued |
| |||||||
Regal Beloit | 28 | $ | 4,122 | |||||
Republic Services, Cl A | 156 | 18,464 | ||||||
Resideo Technologies * | 107 | 3,156 | ||||||
Resources Connection | 22 | 341 | ||||||
REV Group | 18 | 272 | ||||||
Rexnord | 88 | 4,957 | ||||||
Robert Half International | 82 | 8,053 | ||||||
Rockwell Automation | 82 | 25,208 | ||||||
Rollins | 163 | 6,248 | ||||||
Roper Technologies | 74 | 36,359 | ||||||
RR Donnelley & Sons * | 49 | 300 | ||||||
Rush Enterprises, Cl A | 30 | 1,410 | ||||||
Ryder System | 37 | 2,818 | ||||||
Saia * | 19 | 4,294 | ||||||
Schneider National, Cl B | 39 | 875 | ||||||
Sensata Technologies Holding * | 116 | 6,800 | ||||||
Shyft Group | 23 | 907 | ||||||
Simpson Manufacturing | 30 | 3,374 | ||||||
SiteOne Landscape Supply * | 31 | 5,418 | ||||||
SkyWest * | 34 | 1,377 | ||||||
Snap-on | 38 | 8,283 | ||||||
Southwest Airlines * | 437 | 22,077 | ||||||
SP Plus * | 15 | 492 | ||||||
Spirit AeroSystems Holdings, Cl A | 74 | 3,198 | ||||||
Spirit Airlines * | 68 | 1,835 | ||||||
SPX * | 31 | 2,066 | ||||||
SPX FLOW | 30 | 2,464 | ||||||
Standex International | 8 | 736 | ||||||
Stanley Black & Decker | 119 | 23,449 | ||||||
Steelcase, Cl A | 60 | 825 | ||||||
Stericycle * | 65 | 4,586 | ||||||
Sterling Construction * | 18 | 395 | ||||||
Sunrun * | 145 | 7,681 | ||||||
Team * | 21 | 130 | ||||||
Teledyne Technologies * | 32 | 14,489 | ||||||
Tennant | 12 | 949 | ||||||
Terex | 47 | 2,252 | ||||||
Tetra Tech | 38 | 5,074 | ||||||
Thermon Group Holdings * | 23 | 383 | ||||||
Timken | 48 | 3,816 | ||||||
Titan International * | 41 | 353 | ||||||
Titan Machinery * | 14 | 399 | ||||||
Toro | 76 | 8,644 | ||||||
TPI Composites * | 25 | 978 | ||||||
Trane Technologies PLC | 177 | 36,039 | ||||||
Transcat * | 4 | 255 | ||||||
TransDigm Group * | 36 | 23,079 | ||||||
TransUnion | 141 | 16,928 | ||||||
Trex * | 73 | 7,088 | ||||||
TriMas * | 30 | 982 | ||||||
TriNet Group * | 28 | 2,323 |
17
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INDUSTRIALS— continued |
| |||||||
Trinity Industries | 81 | $ | 2,196 | |||||
Triumph Group * | 38 | 724 | ||||||
TrueBlue * | 24 | 653 | ||||||
Tutor Perini * | 29 | 408 | ||||||
Uber Technologies * | 1,111 | 48,284 | ||||||
UFP Industries | 42 | 3,119 | ||||||
UniFirst | 10 | 2,178 | ||||||
Union Pacific | 495 | 108,286 | ||||||
United Airlines Holdings * | 239 | 11,166 | ||||||
United Parcel Service, Cl B | 536 | 102,569 | ||||||
United Rentals * | 51 | 16,807 | ||||||
Univar Solutions * | 124 | 3,043 | ||||||
Upwork * | 79 | 4,091 | ||||||
US Ecology * | 22 | 770 | ||||||
US Xpress Enterprises, Cl A * | 18 | 157 | ||||||
Valmont Industries | 15 | 3,554 | ||||||
Verisk Analytics, Cl A | 119 | 22,603 | ||||||
Veritiv * | 10 | 613 | ||||||
Vertiv Holdings, Cl A | 190 | 5,328 | ||||||
Viad * | 13 | 596 | ||||||
Vicor * | 12 | 1,387 | ||||||
Virgin Galactic Holdings * | 115 | 3,449 | ||||||
VSE | 7 | 350 | ||||||
Wabash National | 36 | 527 | ||||||
Waste Management | 301 | 44,626 | ||||||
Watsco | 23 | 6,496 | ||||||
Watts Water Technologies, Cl A | 19 | 2,864 | ||||||
Welbilt * | 104 | 2,443 | ||||||
Werner Enterprises | 42 | 1,920 | ||||||
WESCO International * | 31 | 3,300 | ||||||
Westinghouse Air Brake Technologies | 134 | 11,373 | ||||||
Willdan Group * | 7 | 289 | ||||||
WillScot Mobile Mini Holdings, Cl A * | 133 | 3,818 | ||||||
Woodward | 42 | 5,106 | ||||||
WW Grainger | 33 | 14,671 | ||||||
XPO Logistics * | 63 | 8,737 | ||||||
Xylem | 133 | 16,738 | ||||||
Yellow * | 32 | 166 | ||||||
|
| |||||||
2,497,583 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY — 32.8% |
| |||||||
2U * | 50 | 2,170 | ||||||
3D Systems * | 86 | 2,368 | ||||||
8x8 * | 74 | 1,891 | ||||||
A10 Networks * | 45 | 575 | ||||||
Accenture PLC, Cl A | 493 | 156,616 | ||||||
ACI Worldwide * | 82 | 2,813 | ||||||
ACM Research, Cl A * | 8 | 743 | ||||||
Adobe * | 353 | 219,435 | ||||||
ADTRAN | 34 | 762 | ||||||
Advanced Energy Industries | 27 | 2,801 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INFORMATION TECHNOLOGY— continued |
| |||||||
Advanced Micro Devices * | 896 | $ | 95,146 | |||||
Agilysys * | 14 | 778 | ||||||
Akamai Technologies * | 119 | 14,270 | ||||||
Akoustis Technologies * | 34 | 329 | ||||||
Alarm.com Holdings * | 32 | 2,663 | ||||||
Alliance Data Systems | 34 | 3,171 | ||||||
Alpha & Omega Semiconductor * | 13 | 338 | ||||||
Altair Engineering, Cl A * | 31 | 2,163 | ||||||
Alteryx, Cl A * | 41 | 3,173 | ||||||
Ambarella * | 24 | 2,364 | ||||||
Amdocs | 97 | 7,480 | ||||||
American Software, Cl A | 22 | 484 | ||||||
Amkor Technology | 55 | 1,355 | ||||||
Amphenol, Cl A | 443 | 32,113 | ||||||
Analog Devices | 274 | 45,873 | ||||||
Anaplan * | 96 | 5,491 | ||||||
ANSYS * | 60 | 22,108 | ||||||
Appfolio, Cl A * | 11 | 1,558 | ||||||
Appian, Cl A * | 27 | 3,144 | ||||||
Apple | 12,456 | 1,816,832 | ||||||
Applied Materials | 679 | 95,012 | ||||||
Arista Networks * | 39 | 14,835 | ||||||
Arlo Technologies * | 54 | 330 | ||||||
Arrow Electronics * | 52 | 6,166 | ||||||
Aspen Technology * | 48 | 7,020 | ||||||
Atomera * | 13 | 229 | ||||||
Autodesk * | 162 | 52,023 | ||||||
Automatic Data Processing | 317 | 66,453 | ||||||
Avalara * | 59 | 9,863 | ||||||
Avaya Holdings * | 58 | 1,405 | ||||||
Avid Technology * | 30 | 1,122 | ||||||
Avnet | 69 | 2,851 | ||||||
Axcelis Technologies * | 23 | 887 | ||||||
AXT * | 28 | 286 | ||||||
Badger Meter | 19 | 1,920 | ||||||
Belden | 30 | 1,470 | ||||||
Benchmark Electronics | 25 | 660 | ||||||
Benefitfocus * | 20 | 263 | ||||||
BigCommerce Holdings * | 26 | 1,684 | ||||||
Bill.com Holdings * | 53 | 10,961 | ||||||
Black Knight * | 112 | 9,275 | ||||||
Blackbaud * | 30 | 2,140 | ||||||
Blackline * | 36 | 4,118 | ||||||
Bottomline Technologies DE * | 31 | 1,251 | ||||||
Box, Cl A * | 117 | 2,799 | ||||||
Brightcove * | 28 | 321 | ||||||
Broadcom | 298 | 144,649 | ||||||
Broadridge Financial Solutions | 81 | 14,053 | ||||||
Brooks Automation | 51 | 4,540 | ||||||
Cadence Design Systems * | 204 | 30,121 | ||||||
CalAmp * | 24 | 291 | ||||||
Calix * | 39 | 1,824 |
18
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INFORMATION TECHNOLOGY— continued |
| |||||||
Cambium Networks * | 6 | $ | 264 | |||||
Cantaloupe * | 46 | 476 | ||||||
Casa Systems * | 22 | 165 | ||||||
Cass Information Systems | 8 | 353 | ||||||
CDK Global | 90 | 4,319 | ||||||
CDW | 103 | 18,885 | ||||||
Cerence * | 26 | 2,795 | ||||||
Ceridian HCM Holding * | 97 | 9,545 | ||||||
CEVA * | 16 | 794 | ||||||
ChannelAdvisor * | 19 | 443 | ||||||
Ciena * | 113 | 6,570 | ||||||
Cirrus Logic * | 41 | 3,386 | ||||||
Cisco Systems | 3,144 | 174,083 | ||||||
Citrix Systems | 87 | 8,765 | ||||||
Clearfield * | 7 | 305 | ||||||
Cloudera * | 206 | 3,269 | ||||||
Cloudflare, Cl A * | 171 | 20,286 | ||||||
CMC Materials | 19 | 2,748 | ||||||
Cognex | 127 | 11,482 | ||||||
Cognizant Technology Solutions, Cl A | 393 | 28,897 | ||||||
Coherent * | 16 | 3,935 | ||||||
Cohu * | 33 | 1,169 | ||||||
CommScope Holding * | 148 | 3,132 | ||||||
CommVault Systems * | 32 | 2,419 | ||||||
Comtech Telecommunications | 18 | 449 | ||||||
Concentrix * | 30 | 4,912 | ||||||
Conduent * | 147 | 986 | ||||||
Cornerstone OnDemand * | 39 | 1,870 | ||||||
Corsair Gaming * | 17 | 496 | ||||||
Coupa Software * | 51 | 11,067 | ||||||
Cree * | 78 | 7,235 | ||||||
Crowdstrike Holdings, Cl A * | 140 | 35,505 | ||||||
CSG Systems International | 21 | 953 | ||||||
CTS | 22 | 770 | ||||||
Daktronics * | 26 | 159 | ||||||
Datadog, Cl A * | 144 | 15,941 | ||||||
Datto Holding * | 18 | 470 | ||||||
Dell Technologies, Cl C * | 199 | 19,227 | ||||||
Diebold Nixdorf * | 54 | 562 | ||||||
Digi International * | 23 | 476 | ||||||
Digimarc * | 8 | 230 | ||||||
Digital Turbine * | 61 | 3,840 | ||||||
Diodes * | 24 | 1,968 | ||||||
DocuSign, Cl A * | 141 | 42,024 | ||||||
Dolby Laboratories, Cl A | 46 | 4,467 | ||||||
Domo, Cl B * | 20 | 1,767 | ||||||
Dropbox, Cl A * | 223 | 7,022 | ||||||
DSP Group * | 16 | 257 | ||||||
Duck Creek Technologies * | 47 | 2,065 | ||||||
DXC Technology * | 186 | 7,436 | ||||||
Dynatrace * | 132 | 8,431 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INFORMATION TECHNOLOGY— continued |
| |||||||
DZS * | 10 | $ | 198 | |||||
Eastman Kodak * | 39 | 288 | ||||||
Ebix | 17 | 514 | ||||||
EchoStar, Cl A * | 31 | 691 | ||||||
Elastic * | 47 | 6,959 | ||||||
Enphase Energy * | 94 | 17,822 | ||||||
Entegris | 99 | 11,943 | ||||||
Envestnet * | 37 | 2,784 | ||||||
EPAM Systems * | 38 | 21,272 | ||||||
ePlus * | 9 | 832 | ||||||
Euronet Worldwide * | 36 | 5,142 | ||||||
Everbridge * | 26 | 3,672 | ||||||
Evo Payments, Cl A * | 33 | 964 | ||||||
ExlService Holdings * | 23 | 2,604 | ||||||
Extreme Networks * | 85 | 936 | ||||||
F5 Networks * | 43 | 8,880 | ||||||
Fair Isaac * | 20 | 10,478 | ||||||
FARO Technologies * | 12 | 875 | ||||||
Fastly, Cl A * | 69 | 3,317 | ||||||
Fidelity National Information Services | 460 | 68,563 | ||||||
FireEye * | 171 | 3,454 | ||||||
First Solar * | 66 | 5,679 | ||||||
Fiserv * | 428 | 49,267 | ||||||
Five9 * | 47 | 9,461 | ||||||
FleetCor Technologies * | 57 | 14,719 | ||||||
FormFactor * | 55 | 2,049 | ||||||
Fortinet * | 101 | 27,496 | ||||||
Gartner * | 59 | 15,619 | ||||||
Genasys * | 23 | 129 | ||||||
Genpact | 128 | 6,376 | ||||||
Global Payments | 217 | 41,970 | ||||||
GoDaddy, Cl A * | 124 | 10,397 | ||||||
GreenSky, Cl A * | 46 | 302 | ||||||
Grid Dynamics Holdings * | 18 | 379 | ||||||
GTY Technology Holdings * | 33 | 228 | ||||||
Guidewire Software * | 59 | 6,797 | ||||||
Hackett Group | 18 | 323 | ||||||
Harmonic * | 73 | 646 | ||||||
Hewlett Packard Enterprise | 969 | 14,050 | ||||||
HP | 932 | 26,907 | ||||||
HubSpot * | 31 | 18,477 | ||||||
I3 Verticals, Cl A * | 14 | 447 | ||||||
Ichor Holdings * | 20 | 1,031 | ||||||
Ideanomics * | 271 | 642 | ||||||
II-VI * | 73 | 5,096 | ||||||
Immersion * | 19 | 144 | ||||||
Impinj * | 14 | 644 | ||||||
Infinera * | 149 | 1,477 | ||||||
Inseego * | 72 | 626 | ||||||
Insight Enterprises * | 24 | 2,409 | ||||||
Intel | 3,011 | 161,751 |
19
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INFORMATION TECHNOLOGY— continued |
| |||||||
Intelligent Systems * | 4 | $ | 135 | |||||
InterDigital | 20 | 1,318 | ||||||
International Business Machines | 669 | 94,302 | ||||||
International Money Express * | 20 | 324 | ||||||
Intuit | 197 | 104,404 | ||||||
IPG Photonics * | 25 | 5,454 | ||||||
Iteris * | 29 | 181 | ||||||
Itron * | 32 | 3,156 | ||||||
j2 Global * | 30 | 4,238 | ||||||
Jabil | 102 | 6,073 | ||||||
Jack Henry & Associates | 53 | 9,227 | ||||||
Jamf Holding * | 24 | 787 | ||||||
Juniper Networks | 241 | 6,782 | ||||||
Keysight Technologies * | 137 | 22,543 | ||||||
Kimball Electronics * | 16 | 326 | ||||||
KLA | 114 | 39,690 | ||||||
Knowles * | 63 | 1,263 | ||||||
Lam Research | 106 | 67,565 | ||||||
Lattice Semiconductor * | 96 | 5,448 | ||||||
Limelight Networks * | 84 | 236 | ||||||
Littelfuse | 16 | 4,256 | ||||||
LivePerson * | 45 | 2,866 | ||||||
LiveRamp Holdings * | 46 | 1,840 | ||||||
Lumentum Holdings * | 52 | 4,367 | ||||||
Luna Innovations * | 20 | 247 | ||||||
MACOM Technology Solutions Holdings * | 34 | 2,098 | ||||||
Manhattan Associates * | 44 | 7,024 | ||||||
Mastercard, Cl A | 650 | 250,861 | ||||||
Maxim Integrated Products | 197 | 19,682 | ||||||
Maximus | 41 | 3,649 | ||||||
MaxLinear, Cl A * | 50 | 2,411 | ||||||
McAfee, Cl A | 53 | 1,435 | ||||||
Medallia * | 71 | 2,405 | ||||||
Methode Electronics | 25 | 1,196 | ||||||
Microchip Technology | 196 | 28,052 | ||||||
Micron Technology | 829 | 64,314 | ||||||
Microsoft | 5,521 | 1,572,988 | ||||||
MicroStrategy, Cl A * | 5 | 3,130 | ||||||
Mitek Systems * | 29 | 641 | ||||||
MKS Instruments | 39 | 6,101 | ||||||
Model N * | 22 | 712 | ||||||
Momentive Global * | 88 | 1,848 | ||||||
MoneyGram International * | 45 | 465 | ||||||
MongoDB, Cl A * | 40 | 14,357 | ||||||
Monolithic Power Systems | 30 | 13,478 | ||||||
Motorola Solutions | 125 | 27,990 | ||||||
N-Able * | 25 | 338 | ||||||
Napco Security Technologies * | 9 | 318 | ||||||
National Instruments | 95 | 4,190 | ||||||
nCino * | 42 | 2,670 | ||||||
NCR * | 90 | 3,996 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INFORMATION TECHNOLOGY— continued |
| |||||||
NeoPhotonics * | 35 | $ | 339 | |||||
NetApp | 166 | 13,212 | ||||||
NETGEAR * | 21 | 719 | ||||||
NetScout Systems * | 50 | 1,438 | ||||||
New Relic * | 38 | 2,625 | ||||||
nLight * | 29 | 1,006 | ||||||
NortonLifeLock | 428 | 10,623 | ||||||
Nuance Communications * | 210 | 11,529 | ||||||
Nutanix, Cl A * | 141 | 5,079 | ||||||
NVE | 3 | 225 | ||||||
NVIDIA | 1,770 | 345,132 | ||||||
Okta, Cl A * | 90 | 22,301 | ||||||
ON Semiconductor * | 306 | 11,952 | ||||||
OneSpan * | 25 | 617 | ||||||
Onto Innovation * | 34 | 2,383 | ||||||
Oracle | 1,293 | 112,672 | ||||||
OSI Systems * | 11 | 1,101 | ||||||
PagerDuty * | 50 | 2,029 | ||||||
Palo Alto Networks * | 66 | 26,337 | ||||||
PAR Technology * | 17 | 1,038 | ||||||
Paychex | 240 | 27,317 | ||||||
Paycom Software * | 36 | 14,400 | ||||||
Paylocity Holding * | 27 | 5,601 | ||||||
PayPal Holdings * | 870 | 239,711 | ||||||
PC Connection | 12 | 571 | ||||||
PDF Solutions * | 21 | 393 | ||||||
Pegasystems | 27 | 3,446 | ||||||
Perficient * | 23 | 2,169 | ||||||
Photronics * | 43 | 575 | ||||||
Ping Identity Holding * | 30 | 662 | ||||||
Plantronics * | 28 | 873 | ||||||
Plexus * | 20 | 1,806 | ||||||
Power Integrations | 42 | 4,074 | ||||||
Powerfleet * | 18 | 123 | ||||||
Progress Software | 31 | 1,413 | ||||||
Proofpoint * | 40 | 6,986 | ||||||
PROS Holdings * | 28 | 1,216 | ||||||
PTC * | 74 | 10,023 | ||||||
Pure Storage, Cl A * | 193 | 3,767 | ||||||
Q2 Holdings * | 34 | 3,513 | ||||||
QAD, Cl A | 8 | 694 | ||||||
Qorvo * | 79 | 14,978 | ||||||
QUALCOMM | 846 | 126,731 | ||||||
Qualys * | 24 | 2,437 | ||||||
Quantum * | 36 | 223 | ||||||
Rackspace Technology * | 26 | 461 | ||||||
Rambus * | 78 | 1,845 | ||||||
Rapid7 * | 37 | 4,209 | ||||||
Repay Holdings, Cl A * | 54 | 1,345 | ||||||
Ribbon Communications * | 83 | 574 | ||||||
Rimini Street * | 26 | 226 | ||||||
RingCentral, Cl A * | 55 | 14,700 |
20
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INFORMATION TECHNOLOGY— continued |
| |||||||
Rogers * | 12 | $ | 2,287 | |||||
Sabre * | 227 | 2,676 | ||||||
Sailpoint Technologies Holdings * | 63 | 3,149 | ||||||
salesforce.com * | 687 | 166,205 | ||||||
Sanmina * | 45 | 1,729 | ||||||
ScanSource * | 18 | 497 | ||||||
Science Applications International | 41 | 3,579 | ||||||
Seagate Technology Holdings | 172 | 15,119 | ||||||
Semtech * | 45 | 2,786 | ||||||
ServiceNow * | 146 | 85,832 | ||||||
Shift4 Payments, Cl A * | 27 | 2,408 | ||||||
ShotSpotter * | 5 | 228 | ||||||
Silicon Laboratories * | 31 | 4,619 | ||||||
SiTime * | 8 | 1,085 | ||||||
Skyworks Solutions | 122 | 22,510 | ||||||
SMART Global Holdings * | 10 | 468 | ||||||
Smartsheet, Cl A * | 86 | 6,239 | ||||||
Smith Micro Software * | 31 | 175 | ||||||
Snowflake, Cl A * | 172 | 45,704 | ||||||
SolarWinds * | 49 | 551 | ||||||
Splunk * | 120 | 17,038 | ||||||
Sprout Social, Cl A * | 28 | 2,488 | ||||||
SPS Commerce * | 25 | 2,724 | ||||||
Square, Cl A * | 284 | 70,222 | ||||||
SS&C Technologies Holdings | 166 | 13,013 | ||||||
Sumo Logic * | 38 | 785 | ||||||
SunPower, Cl A * | 56 | 1,387 | ||||||
Super Micro Computer * | 30 | 1,141 | ||||||
Switch, Cl A | 65 | 1,343 | ||||||
Sykes Enterprises * | 27 | 1,449 | ||||||
Synaptics * | 24 | 3,646 | ||||||
SYNNEX | 29 | 3,467 | ||||||
Synopsys * | 112 | 32,255 | ||||||
TE Connectivity | 246 | 36,278 | ||||||
Technologies * | 2 | 20 | ||||||
Tenable Holdings * | 64 | 2,739 | ||||||
Teradata * | 75 | 3,724 | ||||||
Teradyne | 123 | 15,621 | ||||||
Texas Instruments | 687 | 130,956 | ||||||
Trade Desk, Cl A * | 313 | 25,638 | ||||||
Trimble * | 185 | 15,817 | ||||||
TTEC Holdings | 12 | 1,254 | ||||||
TTM Technologies * | 69 | 965 | ||||||
Turtle Beach * | 10 | 309 | ||||||
Twilio, Cl A * | 116 | 43,336 | ||||||
Tyler Technologies * | 28 | 13,794 | ||||||
Ubiquiti | 4 | 1,252 | ||||||
Ultra Clean Holdings * | 30 | 1,620 | ||||||
Unisys * | 43 | 961 | ||||||
Unity Software * | 100 | 10,712 | ||||||
Universal Display | 30 | 7,035 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
INFORMATION TECHNOLOGY— continued |
| |||||||
Upland Software * | 18 | $ | 648 | |||||
Varonis Systems, Cl B * | 73 | 4,468 | ||||||
Veeco Instruments * | 34 | 789 | ||||||
Verint Systems * | 45 | 1,920 | ||||||
VeriSign * | 78 | 16,877 | ||||||
Veritone * | 19 | 393 | ||||||
Verra Mobility, Cl A * | 100 | 1,531 | ||||||
Vertex, Cl A * | 17 | 321 | ||||||
ViaSat * | 46 | 2,283 | ||||||
Viavi Solutions * | 168 | 2,804 | ||||||
VirnetX Holding * | 45 | 184 | ||||||
Visa, Cl A | 1,257 | 309,712 | ||||||
Vishay Intertechnology | 98 | 2,169 | ||||||
Vishay Precision Group * | 8 | 291 | ||||||
VMware, Cl A * | 55 | 8,456 | ||||||
Vontier | 125 | 4,044 | ||||||
Western Digital * | 221 | 14,350 | ||||||
Western Union | 304 | 7,056 | ||||||
WEX * | 31 | 5,882 | ||||||
Workday, Cl A * | 135 | 31,644 | ||||||
Workiva, Cl A * | 26 | 3,374 | ||||||
Xerox Holdings | 137 | 3,306 | ||||||
Xilinx | 182 | 27,271 | ||||||
Xperi Holding | 73 | 1,516 | ||||||
Yext * | 77 | 1,003 | ||||||
Zebra Technologies, Cl A * | 37 | 20,442 | ||||||
Zendesk * | 86 | 11,226 | ||||||
Zix * | 38 | 282 | ||||||
Zoom Video Communications, Cl A * | 154 | 58,227 | ||||||
Zscaler * | 54 | 12,739 | ||||||
Zuora, Cl A * | 75 | 1,297 | ||||||
|
| |||||||
8,908,761 | ||||||||
|
| |||||||
MATERIALS — 3.0% |
| |||||||
AdvanSix * | 19 | 636 | ||||||
Air Products and Chemicals | 164 | 47,729 | ||||||
Albemarle | 82 | 16,895 | ||||||
Alcoa * | 137 | 5,501 | ||||||
Allegheny Technologies * | 93 | 1,909 | ||||||
American Vanguard | 19 | 314 | ||||||
Amyris * | 104 | 1,516 | ||||||
AptarGroup | 46 | 5,930 | ||||||
Arconic * | 77 | 2,767 | ||||||
Ashland Global Holdings | 43 | 3,658 | ||||||
Avery Dennison | 58 | 12,219 | ||||||
Avient | 64 | 3,105 | ||||||
Axalta Coating Systems * | 172 | 5,177 | ||||||
Balchem | 23 | 3,102 | ||||||
Ball | 242 | 19,573 | ||||||
Berry Global Group * | 93 | 5,979 | ||||||
Cabot | 40 | 2,202 | ||||||
Carpenter Technology | 33 | 1,259 |
21
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
MATERIALS— continued |
| |||||||
Celanese, Cl A | 84 | $ | 13,085 | |||||
Century Aluminum * | 35 | 510 | ||||||
CF Industries Holdings | 159 | 7,513 | ||||||
Chase | 4 | 466 | ||||||
Chemours | 122 | 4,057 | ||||||
Clearwater Paper * | 10 | 295 | ||||||
Cleveland-Cliffs * | 334 | 8,350 | ||||||
Coeur Mining * | 178 | 1,342 | ||||||
Commercial Metals | 84 | 2,755 | ||||||
Compass Minerals International | 24 | 1,645 | ||||||
Corteva | 550 | 23,529 | ||||||
Crown Holdings | 98 | 9,776 | ||||||
Domtar * | 35 | 1,922 | ||||||
Dow | 557 | 34,623 | ||||||
DuPont de Nemours | 396 | 29,720 | ||||||
Eagle Materials | 29 | 4,098 | ||||||
Eastman Chemical | 101 | 11,385 | ||||||
Ecolab | 185 | 40,854 | ||||||
Element Solutions | 148 | 3,462 | ||||||
Ferro * | 57 | 1,186 | ||||||
FMC | 96 | 10,267 | ||||||
Forterra * | 21 | 495 | ||||||
Freeport-McMoRan | 1,079 | 41,110 | ||||||
FutureFuel | 38 | 323 | ||||||
Gatos Silver * | 24 | 327 | ||||||
GCP Applied Technologies * | 42 | 977 | ||||||
Glatfelter | 31 | 472 | ||||||
Graphic Packaging Holding | 209 | 4,007 | ||||||
Greif, Cl A | 18 | 1,091 | ||||||
Hawkins | 12 | 436 | ||||||
Haynes International | 8 | 302 | ||||||
HB Fuller | 37 | 2,391 | ||||||
Hecla Mining | 391 | 2,616 | ||||||
Huntsman | 149 | 3,935 | ||||||
Ingevity * | 30 | 2,548 | ||||||
Innospec | 16 | 1,415 | ||||||
International Flavors & Fragrances | 185 | 27,868 | ||||||
International Paper | 292 | 16,866 | ||||||
Intrepid Potash * | 5 | 152 | ||||||
Kaiser Aluminum | 10 | 1,217 | ||||||
Koppers Holdings * | 13 | 399 | ||||||
Kraton * | 22 | 840 | ||||||
Kronos Worldwide | 16 | 223 | ||||||
Livent * | 108 | 2,107 | ||||||
Louisiana-Pacific | 75 | 4,158 | ||||||
LyondellBasell Industries, Cl A | 196 | 19,469 | ||||||
Martin Marietta Materials | 44 | 15,985 | ||||||
Materion | 13 | 928 | ||||||
Minerals Technologies | 24 | 1,925 | ||||||
Mosaic | 256 | 7,995 | ||||||
Myers Industries | 25 | 529 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
MATERIALS— continued |
| |||||||
Neenah | 11 | $ | 553 | |||||
NewMarket | 5 | 1,580 | ||||||
Newmont | 597 | 37,504 | ||||||
Nucor | 221 | 22,988 | ||||||
O-I Glass, Cl I * | 116 | 1,716 | ||||||
Olin | 117 | 5,503 | ||||||
Olympic Steel | 6 | 181 | ||||||
Packaging Corp of America | 66 | 9,339 | ||||||
Pactiv Evergreen | 30 | 434 | ||||||
PPG Industries | 176 | 28,780 | ||||||
PQ Group Holdings | 28 | 436 | ||||||
Quaker Chemical | 9 | 2,266 | ||||||
Ranpak Holdings, Cl A * | 44 | 1,127 | ||||||
Rayonier Advanced Materials * | 43 | 300 | ||||||
Reliance Steel & Aluminum | 44 | 6,915 | ||||||
Royal Gold | 46 | 5,590 | ||||||
RPM International | 95 | 8,226 | ||||||
Ryerson Holding | 10 | 157 | ||||||
Schnitzer Steel Industries, Cl A | 18 | 944 | ||||||
Schweitzer-Mauduit International | 22 | 865 | ||||||
Scotts Miracle-Gro, Cl A | 29 | 5,132 | ||||||
Sealed Air | 113 | 6,413 | ||||||
Sensient Technologies | 30 | 2,615 | ||||||
Sherwin-Williams | 182 | 52,967 | ||||||
Silgan Holdings | 59 | 2,391 | ||||||
Sonoco Products | 71 | 4,529 | ||||||
Steel Dynamics | 149 | 9,603 | ||||||
Stepan | 14 | 1,651 | ||||||
Summit Materials, Cl A * | 82 | 2,755 | ||||||
SunCoke Energy | 58 | 448 | ||||||
TimkenSteel * | 26 | 347 | ||||||
Tredegar | 20 | 261 | ||||||
Trinseo | 27 | 1,468 | ||||||
Tronox Holdings | 77 | 1,419 | ||||||
UFP Technologies * | 4 | 239 | ||||||
United States Lime & Minerals | 1 | 139 | ||||||
United States Steel | 197 | 5,217 | ||||||
US Concrete * | 10 | 728 | ||||||
Valvoline | 135 | 4,142 | ||||||
Venator Materials * | 38 | 120 | ||||||
Verso | 19 | 361 | ||||||
Vulcan Materials | 98 | 17,639 | ||||||
Warrior Met Coal | 36 | 672 | ||||||
Westlake Chemical | 23 | 1,907 | ||||||
WestRock | 193 | 9,498 | ||||||
Worthington Industries | 24 | 1,535 | ||||||
WR Grace | 45 | 3,132 | ||||||
|
| |||||||
786,149 | ||||||||
|
| |||||||
REAL ESTATE — 3.7% |
| |||||||
Acadia Realty Trust ‡ | 60 | 1,284 | ||||||
Agree Realty ‡ | 44 | 3,307 | ||||||
Alexander & Baldwin ‡ | 50 | 1,001 |
22
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
REAL ESTATE— continued | ||||||||
Alexander’s ‡ | 1 | $ | 279 | |||||
Alexandria Real Estate Equities ‡ | 109 | 21,946 | ||||||
American Assets Trust ‡ | 34 | 1,256 | ||||||
American Campus Communities ‡ | 102 | 5,132 | ||||||
American Finance Trust ‡ | 82 | 695 | ||||||
American Homes 4 Rent, Cl A ‡ | 201 | 8,442 | ||||||
American Tower ‡ | 330 | 93,324 | ||||||
Americold Realty Trust ‡ | 188 | 7,304 | ||||||
Apartment Income ‡ | 110 | 5,790 | ||||||
Apartment Investment and Management, Cl A ‡ | 107 | 745 | ||||||
Apple Hospitality ‡ | 155 | 2,317 | ||||||
Armada Hoffler Properties ‡ | 42 | 546 | ||||||
AvalonBay Communities ‡ | 103 | 23,466 | ||||||
Blackstone Mortgage Trust, Cl A ‡ | 104 | 3,372 | ||||||
Bluerock Residential Growth, Cl A ‡ | 15 | 192 | ||||||
Boston Properties ‡ | 116 | 13,616 | ||||||
Brandywine Realty Trust ‡ | 126 | 1,759 | ||||||
Brixmor Property Group ‡ | 221 | 5,087 | ||||||
Broadstone Net Lease, Cl A ‡ | 107 | 2,784 | ||||||
Camden Property Trust ‡ | 67 | 10,009 | ||||||
CareTrust ‡ | 71 | 1,713 | ||||||
CatchMark Timber Trust, Cl A ‡ | 34 | 397 | ||||||
CBRE Group, Cl A * | 247 | 23,826 | ||||||
Centerspace ‡ | 8 | 720 | ||||||
Chatham Lodging Trust *‡ | 32 | 393 | ||||||
Columbia Property Trust ‡ | 85 | 1,417 | ||||||
Community Healthcare Trust ‡ | 15 | 747 | ||||||
CoreCivic * | 83 | 853 | ||||||
CorePoint Lodging *‡ | 27 | 363 | ||||||
CoreSite Realty ‡ | 26 | 3,593 | ||||||
Corporate Office Properties Trust ‡ | 79 | 2,326 | ||||||
Cousins Properties ‡ | 112 | 4,449 | ||||||
Crown Castle International ‡ | 321 | 61,982 | ||||||
CTO Realty Growth ‡ | 3 | 169 | ||||||
CubeSmart ‡ | 149 | 7,399 | ||||||
Cushman & Wakefield * | 128 | 2,390 | ||||||
CyrusOne ‡ | 90 | 6,414 | ||||||
DiamondRock Hospitality *‡ | 155 | 1,335 | ||||||
Digital Realty Trust ‡ | 209 | 32,219 | ||||||
DigitalBridge Group *‡ | 356 | 2,478 | ||||||
Diversified Healthcare Trust ‡ | 177 | 690 | ||||||
Douglas Emmett ‡ | 123 | 4,108 | ||||||
Duke Realty ‡ | 278 | 14,145 | ||||||
Easterly Government Properties ‡ | 59 | 1,339 | ||||||
EastGroup Properties ‡ | 28 | 4,934 | ||||||
Empire State Realty Trust, Cl A ‡ | 104 | 1,189 | ||||||
EPR Properties ‡ | 52 | 2,616 | ||||||
Equinix ‡ | 63 | 51,686 | ||||||
Equity Commonwealth ‡ | 84 | 2,208 | ||||||
Equity LifeStyle Properties ‡ | 129 | 10,810 |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
REAL ESTATE— continued | ||||||||
Equity Residential ‡ | 273 | $ | 22,967 | |||||
Essential Properties Realty Trust ‡ | 86 | 2,563 | ||||||
Essex Property Trust ‡ | 46 | 15,093 | ||||||
eXp World Holdings | 47 | 1,688 | ||||||
Extra Space Storage ‡ | 97 | 16,892 | ||||||
Farmland Partners ‡ | 16 | 202 | ||||||
Federal Realty Investment Trust ‡ | 54 | 6,347 | ||||||
First Industrial Realty Trust ‡ | 95 | 5,204 | ||||||
Five Point Holdings, Cl A * | 40 | 335 | ||||||
Forestar Group * | 11 | 225 | ||||||
Four Corners Property Trust ‡ | 53 | 1,522 | ||||||
Franklin Street Properties ‡ | 73 | 381 | ||||||
FRP Holdings * | 4 | 241 | ||||||
Gaming and Leisure Properties ‡ | 165 | 7,811 | ||||||
GEO Group ‡ | 87 | 602 | ||||||
Getty Realty ‡ | 26 | 821 | ||||||
Gladstone Commercial ‡ | 25 | 580 | ||||||
Gladstone Land ‡ | 18 | 420 | ||||||
Global Medical ‡ | 40 | 622 | ||||||
Global Net Lease ‡ | 69 | 1,274 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital ‡ | 53 | 3,010 | ||||||
Healthcare Realty Trust ‡ | 105 | 3,347 | ||||||
Healthcare Trust of America, Cl A ‡ | 169 | 4,832 | ||||||
Healthpeak Properties ‡ | 402 | 14,862 | ||||||
Hersha Hospitality Trust, Cl A *‡ | 23 | 216 | ||||||
Highwoods Properties ‡ | 73 | 3,481 | ||||||
Host Hotels & Resorts *‡ | 513 | 8,172 | ||||||
Howard Hughes * | 38 | 3,523 | ||||||
Hudson Pacific Properties ‡ | 109 | 2,971 | ||||||
Independence Realty Trust ‡ | 71 | 1,369 | ||||||
Industrial Logistics Properties Trust ‡ | 45 | 1,220 | ||||||
Innovative Industrial Properties, Cl A ‡ | 12 | 2,580 | ||||||
Invitation Homes ‡ | 421 | 17,126 | ||||||
Iron Mountain ‡ | 214 | 9,365 | ||||||
iStar ‡ | 50 | 1,212 | ||||||
JBG SMITH Properties ‡ | 90 | 2,937 | ||||||
Jones Lang LaSalle * | 36 | 8,013 | ||||||
Kennedy-Wilson Holdings | 90 | 1,817 | ||||||
Kilroy Realty ‡ | 82 | 5,680 | ||||||
Kimco Realty ‡ | 308 | 6,570 | ||||||
Kite Realty Group Trust ‡ | 59 | 1,189 | ||||||
Lamar Advertising, Cl A ‡ | 61 | 6,503 | ||||||
Lexington Realty Trust, Cl B ‡ | 203 | 2,669 | ||||||
Life Storage ‡ | 53 | 6,220 | ||||||
LTC Properties ‡ | 27 | 1,022 | ||||||
Macerich ‡ | 127 | 2,070 | ||||||
Mack-Cali Realty ‡ | 60 | 1,080 | ||||||
Marcus & Millichap * | 17 | 676 |
23
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
REAL ESTATE— continued | ||||||||
MGM Growth Properties, Cl A ‡ | 111 | $ | 4,196 | |||||
Mid-America Apartment Communities ‡ | 85 | 16,413 | ||||||
Monmouth Real Estate Investment ‡ | 66 | 1,257 | ||||||
National Health Investors ‡ | 31 | 2,115 | ||||||
National Retail Properties | 129 | 6,304 | ||||||
National Storage Affiliates Trust ‡ | 48 | 2,600 | ||||||
NETSTREIT | 27 | 701 | ||||||
New Senior Investment Group ‡ | 55 | 507 | ||||||
Newmark Group, Cl A | 115 | 1,481 | ||||||
NexPoint Residential Trust ‡ | 15 | 884 | ||||||
Office Properties Income Trust ‡ | 33 | 956 | ||||||
Omega Healthcare Investors ‡ | 171 | 6,204 | ||||||
One Liberty Properties ‡ | 10 | 306 | ||||||
Outfront Media ‡ | 104 | 2,485 | ||||||
Paramount Group ‡ | 138 | 1,347 | ||||||
Park Hotels & Resorts *‡ | 172 | 3,182 | ||||||
Pebblebrook Hotel Trust ‡ | 95 | 2,137 | ||||||
Piedmont Office Realty Trust, Cl A ‡ | 92 | 1,750 | ||||||
Plymouth Industrial ‡ | 17 | 392 | ||||||
PotlatchDeltic ‡ | 46 | 2,389 | ||||||
Preferred Apartment Communities, Cl A ‡ | 35 | 369 | ||||||
Prologis ‡ | 548 | 70,166 | ||||||
PS Business Parks ‡ | 13 | 1,998 | ||||||
Public Storage ‡ | 113 | 35,310 | ||||||
QTS Realty Trust, Cl A ‡ | 48 | 3,730 | ||||||
Rafael Holdings, Cl B * | 9 | 455 | ||||||
Rayonier ‡ | 102 | 3,846 | ||||||
RE/MAX Holdings, Cl A | 12 | 412 | ||||||
Realogy Holdings * | 81 | 1,435 | ||||||
Realty Income ‡ | 278 | 19,541 | ||||||
Redfin * | 69 | 4,041 | ||||||
Regency Centers ‡ | 126 | 8,242 | ||||||
Retail Opportunity Investments ‡ | 86 | 1,520 | ||||||
Retail Properties of America, Cl A ‡ | 159 | 2,005 | ||||||
Retail Value ‡ | 11 | 269 | ||||||
Rexford Industrial Realty ‡ | 99 | 6,090 | ||||||
RLJ Lodging Trust ‡ | 121 | 1,736 | ||||||
RMR Group, Cl A | 10 | 392 | ||||||
RPT Realty ‡ | 56 | 713 | ||||||
Ryman Hospitality Properties *‡ | 37 | 2,838 | ||||||
Sabra Health Care ‡ | 160 | 2,974 | ||||||
Safehold ‡ | 9 | 813 | ||||||
Saul Centers ‡ | 8 | 365 | ||||||
SBA Communications, Cl A ‡ | 76 | 25,915 | ||||||
Seritage Growth Properties ‡ | 25 | 397 | ||||||
Service Properties Trust ‡ | 121 | 1,347 | ||||||
Simon Property Group ‡ | 244 | 30,871 |
COMMON STOCK — continued |
| |||||||
Shares | Value | |||||||
REAL ESTATE— continued | ||||||||
SITE Centers ‡ | 127 | $ | 2,014 | |||||
SL Green Realty ‡ | 49 | 3,649 | ||||||
Spirit Realty Capital ‡ | 86 | 4,319 | ||||||
St. Joe | 40 | 1,811 | ||||||
STAG Industrial ‡ | 118 | 4,876 | ||||||
STORE Capital ‡ | 200 | 7,238 | ||||||
Stratus Properties * | 4 | 121 | ||||||
Summit Hotel Properties *‡ | 76 | 685 | ||||||
Sun Communities ‡ | 77 | 15,100 | ||||||
Sunstone Hotel Investors *‡ | 158 | 1,823 | ||||||
Tanger Factory Outlet Centers ‡ | 68 | 1,168 | ||||||
Tejon Ranch * | 16 | 292 | ||||||
Terreno Realty ‡ | 47 | 3,213 | ||||||
UDR ‡ | 220 | 12,098 | ||||||
UMH Properties ‡ | 27 | 629 | ||||||
Uniti Group ‡ | 168 | 1,967 | ||||||
Urban Edge Properties ‡ | 80 | 1,520 | ||||||
Urstadt Biddle Properties, Cl A ‡ | 21 | 400 | ||||||
Ventas ‡ | 279 | 16,679 | ||||||
VEREIT ‡ | 171 | 8,374 | ||||||
VICI Properties ‡ | 398 | 12,414 | ||||||
Vornado Realty Trust ‡ | 131 | 5,698 | ||||||
Washington Real Estate Investment Trust ‡ | 59 | 1,433 | ||||||
Weingarten Realty Investors ‡ | 91 | 2,929 | ||||||
Welltower | 312 | 27,100 | ||||||
Weyerhaeuser ‡ | 556 | 18,754 | ||||||
Whitestone, Cl B ‡ | 28 | 248 | ||||||
WP Carey ‡ | 131 | 10,570 | ||||||
Xenia Hotels & Resorts *‡ | 80 | 1,414 | ||||||
|
| |||||||
1,126,015 | ||||||||
|
| |||||||
UTILITIES — 3.3% | ||||||||
AES | 494 | 11,708 | ||||||
ALLETE | 37 | 2,602 | ||||||
Alliant Energy | 185 | 10,828 | ||||||
Ameren | 189 | 15,861 | ||||||
American Electric Power | 371 | 32,693 | ||||||
American States Water | 26 | 2,296 | ||||||
American Water Works | 135 | 22,965 | ||||||
Artesian Resources, Cl A | 5 | 195 | ||||||
Atmos Energy | 95 | 9,366 | ||||||
Avangrid | 40 | 2,086 | ||||||
Avista | 48 | 2,056 | ||||||
Black Hills | 44 | 2,977 | ||||||
Cadiz * | 26 | 352 | ||||||
California Water Service Group | 36 | 2,256 | ||||||
CenterPoint Energy | 406 | 10,337 | ||||||
Chesapeake Utilities | 11 | 1,370 | ||||||
Clearway Energy, Cl C | 54 | 1,549 | ||||||
CMS Energy | 215 | 13,285 | ||||||
Consolidated Edison | 256 | 18,885 | ||||||
Dominion Energy | 625 | 46,794 |
24
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
UTILITIES— continued | ||||||||
DTE Energy | 144 | $ | 16,894 | |||||
Duke Energy | 575 | 60,438 | ||||||
Edison International | 284 | 15,478 | ||||||
Entergy | 148 | 15,232 | ||||||
Essential Utilities | 183 | 8,989 | ||||||
Evergy | 169 | 11,022 | ||||||
Eversource Energy | 255 | 21,999 | ||||||
Exelon | 728 | 34,070 | ||||||
FirstEnergy | 404 | 15,481 | ||||||
Hawaiian Electric Industries | 81 | 3,511 | ||||||
IDACORP | 35 | 3,691 | ||||||
MDU Resources Group | 143 | 4,536 | ||||||
MGE Energy | 25 | 1,953 | ||||||
Middlesex Water | 11 | 1,119 | ||||||
National Fuel Gas | 61 | 3,137 | ||||||
New Jersey Resources | 67 | 2,581 | ||||||
NextEra Energy | 1,459 | 113,656 | ||||||
NextEra Energy Partners | 50 | 3,876 | ||||||
NiSource | 289 | 7,159 | ||||||
Northwest Natural Holding | 20 | 1,046 | ||||||
NorthWestern | 35 | 2,170 | ||||||
NRG Energy | 173 | 7,135 | ||||||
OGE Energy | 150 | 5,062 | ||||||
ONE Gas | 37 | 2,730 | ||||||
Ormat Technologies | 38 | 2,650 | ||||||
Otter Tail | 27 | 1,371 | ||||||
PG&E * | 1,069 | 9,397 | ||||||
Pinnacle West Capital | 79 | 6,600 | ||||||
PNM Resources | 60 | 2,900 | ||||||
Portland General Electric | 63 | 3,081 | ||||||
PPL | 578 | 16,398 | ||||||
Public Service Enterprise Group | 377 | 23,461 | ||||||
Pure Cycle * | 15 | 232 | ||||||
Sempra Energy | 226 | 29,527 | ||||||
SJW Group | 19 | 1,310 | ||||||
South Jersey Industries | 83 | 2,089 | ||||||
Southern | 792 | 50,585 | ||||||
Southwest Gas Holdings | 40 | 2,797 | ||||||
Spire | 35 | 2,483 | ||||||
Star Group | 25 | 295 | ||||||
Sunnova Energy International * | 55 | 2,095 | ||||||
UGI | 155 | 7,128 | ||||||
Unitil | 10 | 529 | ||||||
Vistra Energy | 330 | 6,319 | ||||||
WEC Energy Group | 235 | 22,123 | ||||||
Xcel Energy | 401 | 27,368 | ||||||
York Water | 8 | 386 | ||||||
|
| |||||||
794,550 | ||||||||
|
| |||||||
Total Common Stock | 27,646,637 | |||||||
|
|
WARRANTS — 0.0% | ||||||||
Number of Warrants | Value | |||||||
Nabors Industries | ||||||||
Strike Price $166.67, Expires 6/11/2026* | 2 | $ | 13 | |||||
|
| |||||||
Total Warrants | 13 | |||||||
|
| |||||||
RIGHTS — 0.0% | ||||||||
Number of Rights | Value | |||||||
Achillion Pharmaceuticals(A)#* | 78 | 78 | ||||||
Pfenex(A)#* | 20 | — | ||||||
Prevail Therapeutics(A)#* | 16 | — | ||||||
Progenics Pharmaceuticals(A)#* | 45 | — | ||||||
Zagg Inc(A)#* | 17 | — | ||||||
|
| |||||||
Total Rights | 78 | |||||||
|
| |||||||
PREFERRED STOCK — 0.0% | ||||||||
Shares | Value | |||||||
REAL ESTATE — 0.0% | ||||||||
Brookfield Property Preferred, | 1 | 25 | ||||||
|
| |||||||
Total Preferred Stock | 25 | |||||||
|
| |||||||
Total Investments in Securities— 98.3% |
| $ | 27,646,753 | |||||
|
|
25
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
A list of the open OTC swap agreements held by the Fund at July 31, 2021, is as follows:
Counterparty | Reference Entity/ Obligation | Fund Pays | Fund Receives | Payment Frequency | Termination Date | Currency | Notional Amount | Value | Net Unrealized Appreciation | |||||||||||||||
Wells Fargo | WFCB2TP7 Custom Basket* | 1 Month+ 0.400% | Asset Return | Annually | 08/24/2022 | USD | $ | 353,252 | $ | 3,842 | $ | 3,842 | ||||||||||||
|
|
*The following table represents the individual common stock exposures comprising the WFCBL2TP7 Custom Basket Total Return Swaps as of July 31, 2021:
Shares | Description | Notional Amount ($) | Unrealized Appreciation ($) | Percentage of Basket (%) | ||||||||||||
8,039 | Apple Inc | 34,086 | 371 | 9.6 | ||||||||||||
3,555 | Microsoft Corp | 29,443 | 320 | 8.2 | ||||||||||||
1,141 | Facebook Inc | 11,822 | 129 | 3.4 | ||||||||||||
144 | Alphabet Inc | 11,244 | 122 | 3.2 | ||||||||||||
137 | Alphabet Inc | 10,786 | 117 | 3.0 | ||||||||||||
347 | Tesla Inc | 6,925 | 75 | 2.0 | ||||||||||||
1,142 | Nvidia Corp | 6,473 | 70 | 1.8 | ||||||||||||
1,438 | Jpmorgan Chase & Co | 6,345 | 69 | 1.7 | ||||||||||||
638 | Berkshire Hathaway Inc | 5,157 | 56 | 1.4 | ||||||||||||
514 | Home Depot Inc/The | 4,905 | 53 | 1.3 | ||||||||||||
4,099 | Bank Of America Corp | 4,571 | 50 | 1.3 | ||||||||||||
561 | Paypal Holdings Inc | 4,495 | 49 | 1.2 | ||||||||||||
867 | Walt Disney Co/The | 4,437 | 48 | 1.2 | ||||||||||||
228 | Adobe Inc | 4,115 | 45 | 1.2 | ||||||||||||
2,049 | Coca-Cola Co/The | 3,398 | 37 | 1.0 | ||||||||||||
2,176 | Comcast Corp | 3,721 | 40 | 1.0 | ||||||||||||
2,023 | Exxon Mobil Corp | 3,385 | 37 | 0.9 | ||||||||||||
2,015 | Cisco Systems Inc/Delaware | 3,243 | 35 | 0.9 | ||||||||||||
1,981 | Verizon Communications Inc | 3,212 | 35 | 0.9 | ||||||||||||
209 | Netflix Inc | 3,140 | 34 | 0.9 | ||||||||||||
1,943 | Intel Corp | 3,034 | 33 | 0.9 | ||||||||||||
659 | Pepsico Inc | 3,006 | 33 | 0.9 | ||||||||||||
425 | Salesforce.Com Inc | 2,988 | 33 | 0.9 | ||||||||||||
380 | Eli Lilly & Co | 2,690 | 29 | 0.8 | ||||||||||||
191 | Broadcom Inc | 2,692 | 29 | 0.8 | ||||||||||||
922 | Chevron Corp | 2,730 | 30 | 0.8 | ||||||||||||
840 | Abbott Laboratories | 2,956 | 32 | 0.8 | ||||||||||||
590 | Nike Inc | 2,873 | 31 | 0.8 | ||||||||||||
317 | Accenture Plc | 2,931 | 32 | 0.8 | ||||||||||||
3,413 | At&T Inc | 2,783 | 30 | 0.8 | ||||||||||||
441 | Texas Instruments Inc | 2,445 | 27 | 0.7 | ||||||||||||
543 | Qualcomm Inc | 2,364 | 26 | 0.7 | ||||||||||||
332 | Honeywell International Inc | 2,256 | 25 | 0.7 | ||||||||||||
562 | Starbucks Corp | 1,984 | 22 | 0.6 | ||||||||||||
128 | Intuit Inc | 1,961 | 21 | 0.5 | ||||||||||||
384 | American Express Co | 1,903 | 21 | 0.5 | ||||||||||||
432 | International Business Machines Corp | 1,769 | 19 | 0.5 | ||||||||||||
68 | Blackrock Inc | 1,722 | 19 | 0.5 |
26
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
Shares | Description | Notional Amount ($) | Unrealized Appreciation ($) | Percentage of Basket (%) | ||||||||||||
318 | Union Pacific Corp | 2,023 | 22 | 0.6 | ||||||||||||
832 | Oracle Corp | 2,107 | 23 | 0.6 | ||||||||||||
1,068 | Bristol-Myers Squibb Co | 2,107 | 23 | 0.6 | ||||||||||||
744 | Philip Morris International Inc | 2,165 | 24 | 0.6 | ||||||||||||
937 | Nextera Energy Inc | 2,122 | 23 | 0.6 | ||||||||||||
578 | Advanced Micro Devices Inc | 1,785 | 19 | 0.5 | ||||||||||||
162 | Moderna Inc | 1,664 | 18 | 0.5 | ||||||||||||
158 | Goldman Sachs Group Inc/The | 1,720 | 19 | 0.5 | ||||||||||||
437 | Applied Materials Inc | 1,779 | 19 | 0.5 | ||||||||||||
238 | Target Corp | 1,805 | 20 | 0.5 | ||||||||||||
997 | Citigroup Inc | 1,959 | 21 | 0.5 | ||||||||||||
344 | United Parcel Service Inc | 1,916 | 21 | 0.5 | ||||||||||||
343 | Lowe’S Cos Inc | 1,921 | 21 | 0.5 | ||||||||||||
275 | Amgen Inc | 1,931 | 21 | 0.5 | ||||||||||||
685 | Morgan Stanley | 1,911 | 21 | 0.5 | ||||||||||||
56 | Intuitive Surgical Inc | 1,618 | 18 | 0.5 | ||||||||||||
94 | Servicenow Inc | 1,606 | 17 | 0.4 | ||||||||||||
260 | Caterpillar Inc | 1,564 | 17 | 0.4 | ||||||||||||
277 | 3M Co | 1,593 | 17 | 0.4 | ||||||||||||
800 | Charles Schwab Corp/The | 1,580 | 17 | 0.4 | ||||||||||||
115 | S&P Global Inc | 1,434 | 16 | 0.4 | ||||||||||||
135 | Deere & Co | 1,416 | 15 | 0.4 | ||||||||||||
227 | Zoetis Inc | 1,337 | 15 | 0.4 | ||||||||||||
62 | Charter Communications Inc | 1,336 | 15 | 0.4 | ||||||||||||
183 | Square Inc | 1,318 | 14 | 0.4 | ||||||||||||
296 | Fidelity National Information Services I | 1,282 | 14 | 0.4 | ||||||||||||
68 | Lam Research Corp | 1,261 | 14 | 0.4 | ||||||||||||
535 | Micron Technology Inc | 1,206 | 13 | 0.3 | ||||||||||||
655 | General Motors | 1,083 | 12 | 0.3 | ||||||||||||
641 | Truist Financial Corp | 1,015 | 11 | 0.3 | ||||||||||||
506 | Southern Co/The | 939 | 10 | 0.3 | ||||||||||||
89 | Moody’S Corp | 976 | 11 | 0.3 | ||||||||||||
151 | Illinois Tool Works Inc | 994 | 11 | 0.3 | ||||||||||||
459 | Snap Inc | 992 | 11 | 0.3 | ||||||||||||
117 | Sherwin-Williams Co/The | 992 | 11 | 0.3 | ||||||||||||
105 | Autodesk Inc | 977 | 11 | 0.3 | ||||||||||||
295 | Edwards Lifesciences Corp | 963 | 10 | 0.3 | ||||||||||||
190 | Eaton Corp Plc | 874 | 10 | 0.3 | ||||||||||||
405 | Colgate-Palmolive Co | 936 | 10 | 0.3 | ||||||||||||
266 | Intercontinental Exchange Inc | 926 | 10 | 0.3 | ||||||||||||
276 | Fiserv Inc | 925 | 10 | 0.3 | ||||||||||||
717 | Uber Technologies Inc | 906 | 10 | 0.3 | ||||||||||||
120 | Norfolk Southern Corp | 902 | 10 | 0.3 | ||||||||||||
678 | Boston Scientific Corp | 898 | 10 | 0.3 | ||||||||||||
105 | Air Products And Chemicals Inc | 891 | 10 | 0.3 | ||||||||||||
216 | Capital One Financial Corp | 1,016 | 11 | 0.3 | ||||||||||||
117 | Fedex Corp | 954 | 10 | 0.3 | ||||||||||||
1,089 | Csx Corp | 1,023 | 11 | 0.3 |
27
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
Shares | Description | Notional Amount ($) | Unrealized Appreciation ($) | Percentage of Basket (%) | ||||||||||||
671 | Mondelez International Inc | 1,235 | 13 | 0.3 | ||||||||||||
214 | Chubb Ltd | 1,049 | 11 | 0.3 | ||||||||||||
243 | Marsh & Mclennan Cos Inc | 1,041 | 11 | 0.3 | ||||||||||||
204 | Automatic Data Processing Inc | 1,242 | 14 | 0.3 | ||||||||||||
20 | Booking Holdings Inc | 1,238 | 13 | 0.3 | ||||||||||||
885 | Altria Group Inc | 1,236 | 13 | 0.3 | ||||||||||||
601 | Gilead Sciences Inc | 1,193 | 13 | 0.3 | ||||||||||||
281 | T-Mobile Us Inc | 1,175 | 13 | 0.3 | ||||||||||||
717 | Us Bancorp | 1,158 | 13 | 0.3 | ||||||||||||
324 | Blackstone Inc | 1,085 | 12 | 0.3 | ||||||||||||
368 | Duke Energy Corp | 1,123 | 12 | 0.3 | ||||||||||||
99 | Zoom Video Communications Inc | 1,089 | 12 | 0.3 | ||||||||||||
203 | Pnc Financial Services Group Inc/The | 1,075 | 12 | 0.3 | ||||||||||||
109 | Estee Lauder Cos Inc/The | 1,060 | 12 | 0.3 | ||||||||||||
171 | Cme Group Inc | 1,056 | 11 | 0.3 | ||||||||||||
646 | Conocophillips | 1,053 | 11 | 0.3 | ||||||||||||
240 | American Electric Power Co Inc | 614 | 7 | 0.2 | ||||||||||||
576 | Tjx Cos Inc/The | 1,152 | 13 | 0.3 | ||||||||||||
668 | Schlumberger Nv | 560 | 6 | 0.2 | ||||||||||||
132 | Marriott International Inc/Md | 562 | 6 | 0.2 | ||||||||||||
122 | Match Group Inc | 565 | 6 | 0.2 | ||||||||||||
132 | Cadence Design Systems Inc | 565 | 6 | 0.2 | ||||||||||||
33 | O’Reilly Automotive Inc | 580 | 6 | 0.2 | ||||||||||||
278 | Eog Resources Inc | 590 | 6 | 0.2 | ||||||||||||
285 | Amphenol Corp | 601 | 7 | 0.2 | ||||||||||||
167 | Ross Stores Inc | 595 | 6 | 0.2 | ||||||||||||
72 | Synopsys Inc | 607 | 7 | 0.2 | ||||||||||||
313 | Ebay Inc | 621 | 7 | 0.2 | ||||||||||||
65 | Veeva Systems Inc | 632 | 7 | 0.2 | ||||||||||||
466 | Exelon Corp | 634 | 7 | 0.2 | ||||||||||||
62 | Parker-Hannifin Corp | 559 | 6 | 0.2 | ||||||||||||
162 | Kimberly-Clark Corp | 637 | 7 | 0.2 | ||||||||||||
87 | Workday Inc | 594 | 6 | 0.2 | ||||||||||||
133 | Electronic Arts Inc | 558 | 6 | 0.2 | ||||||||||||
206 | Otis Worldwide Corp | 535 | 6 | 0.2 | ||||||||||||
189 | Prudential Financial Inc | 551 | 6 | 0.2 | ||||||||||||
108 | T Rowe Price Group Inc | 640 | 7 | 0.2 | ||||||||||||
257 | Xcel Energy Inc | 510 | 6 | 0.2 | ||||||||||||
78 | Constellation Brands Inc | 511 | 6 | 0.2 | ||||||||||||
120 | Travelers Cos Inc/The | 519 | 6 | 0.2 | ||||||||||||
45 | Palo Alto Networks Inc | 522 | 6 | 0.2 | ||||||||||||
243 | Sysco Corp | 525 | 6 | 0.2 | ||||||||||||
254 | Dupont De Nemours Inc | 555 | 6 | 0.2 | ||||||||||||
81 | Motorola Solutions Inc | 525 | 6 | 0.2 | ||||||||||||
146 | Discover Financial Services | 528 | 6 | 0.2 | ||||||||||||
114 | Ppg Industries Inc | 540 | 6 | 0.2 | ||||||||||||
143 | Allstate Corp/The | 541 | 6 | 0.2 | ||||||||||||
253 | Cognizant Technology Solutions Corp | 541 | 6 | 0.2 |
28
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
Shares | Description | Notional Amount ($) | Unrealized Appreciation ($) | Percentage of Basket (%) | ||||||||||||
143 | Yum! Brands Inc | 545 | 6 | 0.2 | ||||||||||||
145 | Sempra Energy | 550 | 6 | 0.2 | ||||||||||||
471 | Kraft Heinz Co/The | 527 | 6 | 0.2 | ||||||||||||
356 | Dow Inc | 643 | 7 | 0.2 | ||||||||||||
418 | Bank Of New York Mellon Corp/The | 624 | 7 | 0.2 | ||||||||||||
38 | Msci Inc | 666 | 7 | 0.2 | ||||||||||||
91 | Docusign Inc | 786 | 9 | 0.2 | ||||||||||||
140 | Global Payments Inc | 787 | 9 | 0.2 | ||||||||||||
41 | Idexx Laboratories Inc | 800 | 9 | 0.2 | ||||||||||||
75 | Twilio Inc | 810 | 9 | 0.2 | ||||||||||||
49 | Regeneron Pharmaceuticals Inc | 818 | 9 | 0.2 | ||||||||||||
194 | Waste Management Inc | 835 | 9 | 0.2 | ||||||||||||
279 | Progressive Corp/The | 772 | 8 | 0.2 | ||||||||||||
285 | Emerson Electric Co | 836 | 9 | 0.2 | ||||||||||||
111 | Snowflake Inc | 857 | 9 | 0.2 | ||||||||||||
358 | Activision Blizzard Inc | 870 | 9 | 0.2 | ||||||||||||
190 | Ihs Markit Ltd | 644 | 7 | 0.2 | ||||||||||||
119 | International Flavors & Fragrances Inc | 521 | 6 | 0.2 | ||||||||||||
412 | American International Group Inc | 567 | 6 | 0.2 | ||||||||||||
126 | Microchip Technology Inc | 525 | 6 | 0.2 | ||||||||||||
176 | Analog Devices Inc | 856 | 9 | 0.2 | ||||||||||||
114 | Dollar General Corp | 772 | 8 | 0.2 | ||||||||||||
400 | Dominion Energy Inc | 871 | 9 | 0.2 | ||||||||||||
119 | Ecolab Inc | 766 | 8 | 0.2 | ||||||||||||
695 | Freeport-Mcmoran Inc | 770 | 8 | 0.2 | ||||||||||||
416 | Carrier Global Corp | 668 | 7 | 0.2 | ||||||||||||
114 | Trane Technologies Plc | 672 | 7 | 0.2 | ||||||||||||
158 | Te Connectivity Ltd | 677 | 7 | 0.2 | ||||||||||||
46 | Dexcom Inc | 684 | 7 | 0.2 | ||||||||||||
55 | Roku Inc | 684 | 7 | 0.2 | ||||||||||||
383 | Newmont Corp | 699 | 8 | 0.2 | ||||||||||||
91 | Crowdstrike Holdings Inc | 669 | 7 | 0.2 | ||||||||||||
35 | Align Technology Inc | 714 | 8 | 0.2 | ||||||||||||
50 | Roper Technologies Inc | 714 | 8 | 0.2 | ||||||||||||
13 | Chipotle Mexican Grill Inc | 718 | 8 | 0.2 | ||||||||||||
74 | Kla Corp | 745 | 8 | 0.2 | ||||||||||||
372 | Twitter Inc | 754 | 8 | 0.2 | ||||||||||||
344 | Johnson Controls International Plc | 713 | 8 | 0.2 | ||||||||||||
1,872 | Ford Motor Co | 759 | 8 | 0.2 | ||||||||||||
266 | Archer-Daniels-Midland Co | 461 | 5 | 0.1 | ||||||||||||
209 | Phillips 66 | 446 | 5 | 0.1 | ||||||||||||
354 | Corteva Inc | 440 | 5 | 0.1 | ||||||||||||
77 | Stanley Black & Decker Inc | 440 | 5 | 0.1 | ||||||||||||
256 | Pinterest Inc | 439 | 5 | 0.1 | ||||||||||||
157 | Dr Horton Inc | 435 | 5 | 0.1 | ||||||||||||
103 | Pioneer Natural Resources Co | 434 | 5 | 0.1 | ||||||||||||
175 | Vf Corp | 408 | 4 | 0.1 | ||||||||||||
163 | Paccar Inc | 394 | 4 | 0.1 |
29
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS U.S. ALL CAP INDEX FUND JULY 31, 2021 (Unaudited) |
Shares | Description | Notional Amount ($) | Unrealized Appreciation ($) | Percentage of Basket (%) | ||||||||||||
69 | Cummins Inc | 466 | 5 | 0.1 | ||||||||||||
241 | Public Service Enterprise Group Inc | 436 | 5 | 0.1 | ||||||||||||
100 | Zimmer Biomet Holdings Inc | 473 | 5 | 0.1 | ||||||||||||
131 | Hilton Worldwide Holdings Inc | 499 | 5 | 0.1 | ||||||||||||
948 | Kinder Morgan Inc | 479 | 5 | 0.1 | ||||||||||||
187 | Costar Group Inc | 482 | 5 | 0.1 | ||||||||||||
178 | Monster Beverage Corp | 489 | 5 | 0.1 | ||||||||||||
43 | Cintas Corp | 492 | 5 | 0.1 | ||||||||||||
11 | Autozone Inc | 496 | 5 | 0.1 | ||||||||||||
311 | Marathon Petroleum Corp | 499 | 5 | 0.1 | ||||||||||||
598 | Hp Inc | 501 | 5 | 0.1 | ||||||||||||
154 | Paychex Inc | 509 | 6 | 0.1 | ||||||||||||
282 | Southwest Airlines Co | 414 | 5 | 0.1 | ||||||||||||
291 | General Mills Inc | 498 | 5 | 0.1 | ||||||||||||
195 | Valero Energy Corp | 379 | 4 | 0.1 | ||||||||||||
84 | First Republic Bank/Ca | 477 | 5 | 0.1 | ||||||||||||
61 | Willis Towers Watson Plc | 363 | 4 | 0.1 | ||||||||||||
$ | 353,252 | $ | 3,842 | 100% | ||||||||||||
Percentages are based on Net Assets of $28,113,808.
* | Non-income producing security. |
‡ | Real Estate Investment Trust. |
# | More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. |
(A) | Level 3 security in accordance with fair value hierarchy. |
(B) | Expiration date unavailable. |
ADR — American Depositary Receipt
Cl — Class
MSCI — Morgan Stanley Capital International
PLC — Public Limited Company
S&P — Standard & Poor’s
The following is a list of the inputs used as of July 31, 2021, in valuing the Fund’s investments and other financial instruments carried at market value:
Investments in Securities | Level 1 | Level 2 | Level 3(1) | Total | ||||||||||||
Common Stock | $ | 27,646,519 | $ | — | $ | 118 | $ | 27,646,637 | ||||||||
Warrants | — | 13 | — | 13 | ||||||||||||
Rights | — | — | 78 | 78 | ||||||||||||
Preferred Stock | — | 25 | — | 25 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | $ | 27,646,519 | $ | 38 | $ | 196 | $ | 27,646,753 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
OTC Swaps | ||||||||||||||||
Total Return Swaps* | ||||||||||||||||
Unrealized Appreciation | $ | — | $ | 3,842 | $ | — | $ | 3,842 | ||||||||
Total Other Financial | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||
Instruments | $ | — | $ | 3,842 | $ | — | $ | 3,842 | ||||||||
|
|
|
|
|
|
|
|
(1) A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.
*Swap contracts are value at the unrealized appreciation on the instrument.
For the period ended July 31, 2021, there were transfers in or out of Level 3.
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent financial statements.
KOC-QH-008-0400
30
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS REAL ESTATE FUND JULY 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS | ||||||||
COMMON STOCK — 91.3%# | ||||||||
Shares | Value | |||||||
CONSUMER DISCRETIONARY — 7.3% |
| |||||||
Marriott International, Cl A * | 58,361 | $8,519,539 | ||||||
|
| |||||||
FINANCIALS — 2.4% | ||||||||
Ellington Financial ‡ | 157,651 | 2,866,095 | ||||||
|
| |||||||
INDUSTIALS — 3.4% | ||||||||
CoreCivic * | 384,065 | 3,948,188 | ||||||
|
| |||||||
REAL ESTATE — 78.2% | ||||||||
Acadia Realty Trust ‡ | 50,143 | 1,073,060 | ||||||
Alexandria Real Estate Equities ‡ | 14,786 | 2,977,013 | ||||||
American Tower ‡ | 10,346 | 2,925,849 | ||||||
Americold Realty Trust ‡ | 49,992 | 1,942,189 | ||||||
CatchMark Timber Trust, Cl A ‡ | 368,454 | 4,307,227 | ||||||
Corporate Office Properties Trust ‡ | 39,340 | 1,158,170 | ||||||
Cushman & Wakefield * | 291,988 | 5,451,416 | ||||||
CyrusOne ‡ | 24,700 | 1,760,369 | ||||||
Digital Realty Trust ‡ | 30,672 | 4,728,396 | ||||||
DigitalBridge Group *‡ | 652,491 | 4,541,337 | ||||||
Easterly Government Properties ‡ | 346,464 | 7,864,733 | ||||||
GEO Group *‡ | 294,683 | 2,039,206 | ||||||
Independence Realty Trust ‡ | 259,000 | 4,993,520 | ||||||
Kennedy-Wilson Holdings | 224,890 | 4,540,529 | ||||||
Kilroy Realty ‡ | 25,964 | 1,798,526 | ||||||
National Retail Properties | 32,435 | 1,585,099 | ||||||
National Storage Affiliates Trust ‡ | 95,089 | 5,150,971 | ||||||
New Senior Investment Group ‡ | 28,841 | 265,914 | ||||||
QTS Realty Trust, Cl A ‡ | 61,115 | 4,749,247 | ||||||
Retail Opportunity Investments ‡ | 318,667 | 5,630,846 | ||||||
Ventas ‡ | 84,808 | 5,069,822 | ||||||
Welltower | 12,349 | 1,072,634 | ||||||
Weyerhaeuser ‡ | 337,754 | 11,392,443 | ||||||
WP Carey ‡ | 60,335 | 4,868,431 | ||||||
|
| |||||||
91,886,947 | ||||||||
|
| |||||||
Total Common Stock | 107,220,769 | |||||||
|
| |||||||
Total Investments in Securities— 91.3% | $107,220,769 | |||||||
|
|
Percentages are based on Net Assets of $117,393,680.
* | Non-income producing security. |
‡ | Real Estate Investment Trust. |
# | More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. |
Cl — Class
As of July 31, 2021, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance of fair value measurements and disclosure under U.S. generally accepted accounting principles.
For the period ended July 31, 2021, there were no transfers in or out of Level 3.
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent financial statements.
KOC-QH-009-0400
1
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS INTERNATIONAL EQUITY FUND JULY 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS | ||||||||
COMMON STOCK — 96.4% | ||||||||
Shares | Value | |||||||
AUSTRALIA — 4.2% | ||||||||
BHP Group | 64,000 | $2,512,226 | ||||||
Macquarie Group | 15,940 | 1,835,344 | ||||||
Santos | 248,158 | 1,174,611 | ||||||
|
| |||||||
5,522,181 | ||||||||
|
| |||||||
BELGIUM — 1.7% | ||||||||
Solvay | 16,390 | 2,187,304 | ||||||
|
| |||||||
BRAZIL — 1.8% | ||||||||
Cia Brasileira de Distribuicao | 182,500 | 1,096,770 | ||||||
Sendas Distribuidora | 79,000 | 1,314,783 | ||||||
|
| |||||||
2,411,553 | ||||||||
|
| |||||||
CANADA — 7.7% | ||||||||
Bank of Montreal | 21,660 | 2,144,646 | ||||||
Magna International | 22,179 | 1,859,509 | ||||||
Manulife Financial | 98,230 | 1,899,092 | ||||||
Stantec | 42,030 | 1,956,639 | ||||||
TFI International | 20,630 | 2,309,383 | ||||||
|
| |||||||
10,169,269 | ||||||||
|
| |||||||
CHINA — 8.2% | ||||||||
Alibaba Group Holding * | 65,260 | 1,587,170 | ||||||
Baidu ADR * | 3,340 | 547,793 | ||||||
China Merchants Bank, Cl H | 220,000 | 1,675,942 | ||||||
COSCO Shipping Ports | 2,012,000 | 1,434,341 | ||||||
CSPC Pharmaceutical Group | 923,062 | 1,244,821 | ||||||
Lenovo Group | 1,365,000 | 1,271,704 | ||||||
NetEase | 68,240 | 1,365,476 | ||||||
Tingyi Cayman Islands Holding | 910,000 | 1,639,397 | ||||||
|
| |||||||
10,766,644 | ||||||||
|
| |||||||
DENMARK — 4.6% | ||||||||
GN Store Nord | 21,600 | 1,893,057 | ||||||
Netcompany Group | 16,000 | 1,977,356 | ||||||
Pandora | 17,430 | 2,256,922 | ||||||
|
| |||||||
6,127,335 | ||||||||
|
| |||||||
FINLAND — 1.2% | ||||||||
Neste | 26,752 | 1,644,490 | ||||||
|
| |||||||
FRANCE — 4.6% | ||||||||
Credit Agricole | 133,000 | 1,855,396 | ||||||
Ipsen | 17,846 | 1,907,406 | ||||||
Schneider Electric | 13,950 | 2,338,266 | ||||||
|
| |||||||
6,101,068 | ||||||||
|
| |||||||
GERMANY — 3.6% | ||||||||
Brenntag | 24,000 | 2,397,181 | ||||||
Daimler | 26,100 | 2,330,761 | ||||||
|
| |||||||
4,727,942 | ||||||||
|
| |||||||
HONG KONG — 2.0% | ||||||||
WH Group | 1,800,000 | 1,491,671 | ||||||
Zai Lab * | 8,450 | 1,150,422 | ||||||
|
| |||||||
2,642,093 | ||||||||
|
| |||||||
INDIA — 3.1% | ||||||||
Infosys | 105,000 | 2,272,425 |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
INDIA — continued | ||||||||
Jubilant Ingrevia * | 102,235 | $815,105 | ||||||
Jubilant Pharmova | 102,235 | 943,285 | ||||||
|
| |||||||
4,030,815 | ||||||||
|
| |||||||
ITALY — 1.5% | ||||||||
Enel | 208,500 | 1,924,258 | ||||||
|
| |||||||
JAPAN — 15.6% | ||||||||
Daiwa House Industry | 54,200 | 1,652,605 | ||||||
ENEOS Holdings | 333,800 | 1,398,123 | ||||||
Fuji Electric | 42,500 | 1,844,036 | ||||||
Fujitsu | 11,400 | 1,929,183 | ||||||
Honda Motor | 64,840 | 2,064,501 | ||||||
Hoya | 16,460 | 2,311,347 | ||||||
ITOCHU | 62,200 | 1,832,463 | ||||||
Mizuho Financial Group | 121,500 | 1,733,816 | ||||||
Nintendo | 2,900 | 1,490,907 | ||||||
Sony | 21,400 | 2,218,905 | ||||||
Tokyo Electron | 5,070 | 2,075,971 | ||||||
|
| |||||||
20,551,857 | ||||||||
|
| |||||||
LUXEMBOURG — 1.4% | ||||||||
ArcelorMittal | 55,000 | 1,916,541 | ||||||
|
| |||||||
NETHERLANDS — 4.6% | ||||||||
ING Groep | 163,000 | 2,097,176 | ||||||
Koninklijke Ahold Delhaize | 70,431 | 2,188,567 | ||||||
Signify | 31,200 | 1,746,555 | ||||||
|
| |||||||
6,032,298 | ||||||||
|
| |||||||
NORWAY — 1.5% | ||||||||
DNB Bank * | 96,320 | 1,973,880 | ||||||
|
| |||||||
SINGAPORE — 1.4% | ||||||||
United Overseas Bank | 96,640 | 1,874,386 | ||||||
|
| |||||||
SOUTH AFRICA — 1.3% | ||||||||
Group | 246,670 | 1,774,694 | ||||||
|
| |||||||
SOUTH KOREA — 4.8% | ||||||||
KB Financial Group | 40,800 | 1,819,639 | ||||||
NAVER | 5,690 | 2,144,416 | ||||||
Samsung Electronics | 34,000 | 2,320,365 | ||||||
|
| |||||||
6,284,420 | ||||||||
|
| |||||||
SPAIN — 1.0% | ||||||||
Repsol | 115,500 | 1,263,391 | ||||||
|
| |||||||
SWEDEN — 1.4% | ||||||||
Boliden | 49,000 | 1,909,704 | ||||||
|
| |||||||
SWITZERLAND — 8.3% | ||||||||
Holcim | 32,250 | 1,890,462 | ||||||
Logitech International | 16,535 | 1,808,199 | ||||||
Nestle | 20,030 | 2,538,438 | ||||||
Partners Group Holding | 1,500 | 2,564,166 | ||||||
Straumann Holding | 1,150 | 2,132,803 | ||||||
|
| |||||||
10,934,068 | ||||||||
|
|
1
THE ADVISORS’ INNER CIRCLE FUND III | KNIGHTS OF COLUMBUS INTERNATIONAL EQUITY FUND JULY 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
TAIWAN — 3.0% | ||||||||
AU Optronics | 1,835,400 | $1,355,302 | ||||||
Taiwan Semiconductor Manufacturing ADR | 22,457 | 2,619,385 | ||||||
|
| |||||||
3,974,687 | ||||||||
|
| |||||||
TURKEY — 1.1% | ||||||||
Turkiye Garanti Bankasi | 1,422,000 | 1,437,864 | ||||||
|
| |||||||
UNITED KINGDOM — 5.5% | ||||||||
J Sainsbury PLC | 557,300 | 2,194,589 | ||||||
Kingfisher PLC | 387,050 | 1,982,002 | ||||||
Legal & General Group PLC | 466,000 | 1,693,203 | ||||||
Weir Group PLC | 58,578 | 1,407,005 | ||||||
|
| |||||||
7,276,799 | ||||||||
|
| |||||||
UNITED STATES — 1.3% | ||||||||
American Tower ‡ | 6,275 | 1,774,570 | ||||||
|
| |||||||
Total Common Stock | 127,234,111 | |||||||
|
| |||||||
Total Investments in Securities— 96.4% |
| $ | 127,234,111 | |||||
|
|
Percentages are based on Net Assets of $132,005,548.
* | Non-income producing security. |
‡ | Real Estate Investment Trust. |
ADR — American Depositary Receipt
Cl — Class
PLC — Public Limited Company
As of July 31, 2021, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance of fair value measurements and disclosure under U.S. generally accepted accounting principles.
For the period ended July 31, 2021, there were no transfers in or out of Level 3.
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent financial statements.
KOC-QH-006-1300
2