ADVISORS INNER CIRCLE FD III

Ticker: RWLC CUSIP: 00775Y728 Class: RAYLIANT QUANTIT

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (4)

LaSalle St. Investment Advisors, LLC

Value ($000) $0 Shares 6,258

JANE STREET GROUP, LLC

Value ($000) $827 Shares 24,897

JPMORGAN CHASE & CO

Value ($000) $29 Shares 882

Value ($000) $1 Shares 30

Institution	Shares	Value ($000)
LaSalle St. Investment Advisors, LLC	6,258	$0
JANE STREET GROUP, LLC	24,897	$827
JPMORGAN CHASE & CO	882	$29
UBS Group AG	30	$1

Increased Positions (2)

Sowell Financial Services LLC

Value ($000) $25,154 (-3.1%) Shares 757,637 (+10.3%)

JNBA Financial Advisors

Value ($000) $9 (+23.3%) Shares 271 (+40.4%)

Institution	Prev Shares	Curr Shares	Change
Sowell Financial Services LLC	686,977	757,637	+70,660 (+10.3%)
JNBA Financial Advisors	193	271	+78 (+40.4%)

Decreased Positions (2)

GeoWealth Management, LLC

Value ($000) $2,302 (-14.7%) Shares 69,347 (-2.9%)

FLOW TRADERS U.S. LLC

Value ($000) $0 (-62.1%) Shares 8,009 (-56.8%)

Institution	Prev Shares	Curr Shares	Change
GeoWealth Management, LLC	71,410	69,347	-2,063 (-2.9%)
FLOW TRADERS U.S. LLC	18,557	8,009	-10,548 (-56.8%)

Exited Positions (2)

GPS Wealth Strategies Group, LLC

Value ($000) $79 Shares 2,100

Cetera Investment Advisers

Value ($000) $327 Shares 8,658

Institution	Prev Shares	Prev Value ($000)
GPS Wealth Strategies Group, LLC	2,100	$79
Cetera Investment Advisers	8,658	$327