ADVISORS INNER CIRCLE FD III

Ticker: RWEM CUSIP: 00775Y710 Class: RAYLIANT QUANTMN

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (1)

CREATIVE FINANCIAL DESIGNS INC /ADV
Value ($000) $10 Shares 325

Increased Positions (1)

Sowell Financial Services LLC
Value ($000) $1,997 (+45.0%) Shares 66,979 (+36.9%)

Decreased Positions (5)

Coppell Advisory Solutions LLC
Value ($000) $3,273 (+4.5%) Shares 110,336 (-1.3%)
ARBOR CAPITAL MANAGEMENT INC /ADV
Value ($000) $295 (+4.8%) Shares 9,718 (-2.1%)
BANK OF AMERICA CORP /DE/
Value ($000) $81 (-55.0%) Shares 2,717 (-57.6%)
JANE STREET GROUP, LLC
Value ($000) $803 (-2.6%) Shares 26,950 (-8.1%)
UBS Group AG
Value ($000) $1 (-0.4%) Shares 47 (-6.0%)

Exited Positions (2)

Cetera Investment Advisers
Value ($000) $228 Shares 8,106
MORGAN STANLEY
Value ($000) $176 Shares 6,260