ADVISORS INNER CIRCLE FD III

Ticker: BAFE CUSIP: 00775Y322 Class: BROWN ADV FLEXIB

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (4)

TRED AVON FAMILY WEALTH, LLC

Value ($000) $2,171 Shares 79,473

CITADEL ADVISORS LLC

Value ($000) $272 Shares 9,968

GOLDMAN SACHS GROUP INC

Value ($000) $203 Shares 7,414

JPMORGAN CHASE & CO

Value ($000) $74 Shares 2,705

Institution	Shares	Value ($000)
TRED AVON FAMILY WEALTH, LLC	79,473	$2,171
CITADEL ADVISORS LLC	9,968	$272
GOLDMAN SACHS GROUP INC	7,414	$203
JPMORGAN CHASE & CO	2,705	$74

Increased Positions (2)

BROWN ADVISORY INC

Value ($000) $1,490,038 (+5.1%) Shares 54,540,208 (+4.0%)

JANE STREET GROUP, LLC

Value ($000) $288 (+12.7%) Shares 10,541 (+11.6%)

Institution	Prev Shares	Curr Shares	Change
BROWN ADVISORY INC	52,446,852	54,540,208	+2,093,356 (+4.0%)
JANE STREET GROUP, LLC	9,449	10,541	+1,092 (+11.6%)