# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0000910472-26-001281
**Filing Date:** 2026-2
**Character Count:** 15401
**Document Hash:** 7c8ca6fd0de7b3ad0e91989fd7c4d6b0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-001281.hdr.sgml**: 20260211

**ACCESSION NUMBER**: 0000910472-26-001281

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260211

**DATE AS OF CHANGE**: 20260211

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN LIGHTS FUND TRUST III
- **CENTRAL INDEX KEY:** 0001537140

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22655
- **FILM NUMBER:** 26618975

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 631-470-2621

**MAIL ADDRESS:**
- **STREET 1:** 17605 WRIGHT STREET
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68130

## Series and Classes Contracts Data

### Pinnacle Multi-Strategy Core Fund (Series ID: S000050600)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000159719 | Pinnacle Multi-Strategy Core Fund Class A | APSHX           |
| C000159720 | Pinnacle Multi-Strategy Core Fund Class C | CPSHX           |
| C000159721 | Pinnacle Multi-Strategy Core Fund Class I | IPSHX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **PINNACLE MULTI-STRATEGY CORE FUND** | **PINNACLE MULTI-STRATEGY CORE FUND** | **PINNACLE MULTI-STRATEGY CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 87.3%** |  |
|  | **EQUITY - 87.3%** |  |
| 1780 | Invesco QQQ Trust Series 1 ETF | &nbsp;&nbsp;&nbsp; $1093472 |
| 21640 | Invesco S&P 500 Top 50 ETF | &nbsp;&nbsp;&nbsp; 1282818 |
| 255685 | Pinnacle Focused Opportunities ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 8023420 |
| 2275 | SPDR Dow Jones Industrial Average ETF | &nbsp;&nbsp;&nbsp; 1093297 |
| 24975 | SPDR Portfolio Developed World ex-US ETF | &nbsp;&nbsp;&nbsp; 1109140 |
| 19725 | SPDR Portfolio S&P 400 Mid Cap ETF | &nbsp;&nbsp;&nbsp; 1142275 |
| 19390 | SPDR Portfolio S&P 500 Value ETF | &nbsp;&nbsp;&nbsp; 1101546 |
| 22895 | SPDR Portfolio S&P 600 Small Cap ETF | &nbsp;&nbsp;&nbsp; 1072860 |
| 12815 | SPDR S&P 400 Mid Cap Value ETF | &nbsp;&nbsp;&nbsp; 1084790 |
| 1585 | SPDR S&P 500 ETF | &nbsp;&nbsp;&nbsp; 1080843 |
| 11820 | SPDR S&P 600 Small Cap Value ETF | &nbsp;&nbsp;&nbsp; 1075265 |
| 2975 | SPDR S&P Homebuilders ETF | &nbsp;&nbsp;&nbsp; 306306 |
| 5300 | SPDR S&P Insurance ETF | &nbsp;&nbsp;&nbsp; 318795 |
| 4795 | SPDR S&P Regional Banking ETF | &nbsp;&nbsp;&nbsp; 310764 |
| 3525 | SPDR S&P Retail ETF | &nbsp;&nbsp;&nbsp; 300647 |
| 5425 | State Street Communication Services Select Sector | &nbsp;&nbsp;&nbsp; 638631 |
| 5325 | State Street Consumer Discretionary Select Sector | &nbsp;&nbsp;&nbsp; 635858 |
| 11640 | State Street Financial Select Sector SPDR ETF | &nbsp;&nbsp;&nbsp; 637523 |
| 14210 | State Street Materials Select Sector SPDR ETF | &nbsp;&nbsp;&nbsp; 644424 |
| 10265 | State Street SPDR Portfolio S&P 500 Growth ETF | &nbsp;&nbsp;&nbsp; 1095276 |
| 14925 | State Street Utilities Select Sector SPDR ETF | &nbsp;&nbsp;&nbsp; 637148 |
| 845 | VanEck Semiconductor ETF | &nbsp;&nbsp;&nbsp; 304310 |
| 3700 | VanEck Steel ETF | &nbsp;&nbsp;&nbsp; 313982 |
|  |  | &nbsp;&nbsp; 25303390 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $22,290,148)** | &nbsp;&nbsp; 25303390 |

---

---

| | | |
|:---|:---|:---|
| **PINNACLE MULTI-STRATEGY CORE FUND** | **PINNACLE MULTI-STRATEGY CORE FUND** | **PINNACLE MULTI-STRATEGY CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENTS — 12.7%** |  |
|  | **MONEY MARKET FUNDS - 12.7%** |  |
| 3673616 | First American Government Obligations Fund, Class X, 3.64% (Cost $3,673,616)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; $3673616 |
|  | **TOTAL INVESTMENTS - 100.0% (Cost $25,963,764)** | &nbsp;&nbsp;&nbsp; $28977006 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%** | &nbsp;&nbsp; (8987) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $28968019 |

---

---

| | |
|:---|:---|
| ETF | - Exchange-Traded Fund |
| SPDR | - Standard & Poor's Depositary Receipt |
| <sup>(a)</sup> | Affiliated security |
| <sup>(b)</sup> | Rate disclosed is the seven-day effective yield as of December 31, 2025. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** NORTHERN LIGHTS FUND TRUST III

- **b. Investment Company Act file number:** 811-22655

- **c. CIK number of Registrant:** 0001537140

- **d. LEI of Registrant:** 549300PPUECJSQFBYV98

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 631-470-2600

**Item A.2. Information about the Series.**

- **a. Name of Series:** Pinnacle Multi-Strategy Core Fund

- **b. EDGAR series identifier (if any):** S000050600

- **c. LEI of Series:** 549300C0TJBUH7KIHX42

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $29039307.47

**Total Liabilities:** $71288.33

**Net Assets:** $28968019.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000159719 | 4.10%                | -1.11%               | -0.85%               |
| Class ID C000159720 | 4.02%                | -1.19%               | -0.85%               |
| Class ID C000159721 | 4.16%                | -1.15%               | -0.75%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1314438.24              | $150999.53                                 |
| Month 2  | $0.00                    | $-557066.60                                |
| Month 3  | $1452690.47              | $-1849945.94                               |

### Schedule of Portfolio Investments

| Name                                                     | Title                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| First American Funds Inc.                                | FRST AM-GV OB-X          | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   3673616 | PA      | $3673616.00   | 12.68%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust, Series 1                              | INVESCO QQQ TRUS         | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |      1780 | NS      | $1093471.80   | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Exchange-Traded Fund Trust                       | INVESCO S&P 500          | CUSIP: 46137V233<br>LEI: QPT4TMG79RF3UWNU0R52 | Long             | EC               | RF                | US        |     21640 | NS      | $1282819.20   | 4.43%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Spdr S and P 500 Etf Trust                  | SPDR S&P 500 ETF         | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |      1585 | NS      | $1080843.20   | 3.73%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Index Shares Funds                                  | SPDR PORTFOLIO DEVELOPED | CUSIP: 78463X889<br>LEI: 5493001XGU6MOBRXUU78 | Long             | EC               | RF                | US        |     24975 | NS      | $1109139.75   | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SPDR S&P 600 SMA         | CUSIP: 78464A300<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     11820 | NS      | $1075265.40   | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SPDR PORTFOLIO S         | CUSIP: 78464A409<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     10265 | NS      | $1095275.50   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SS SPDR P SP500V         | CUSIP: 78464A508<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     19390 | NS      | $1101545.90   | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SS SPDR S&P REGB         | CUSIP: 78464A698<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |      4795 | NS      | $310763.95    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SPDR S&P RETAIL          | CUSIP: 78464A714<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |      3525 | NS      | $300647.25    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SPDR S&P INSURAN         | CUSIP: 78464A789<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |      5300 | NS      | $318795.00    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SPDR S&P 400 MID         | CUSIP: 78464A839<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     12815 | NS      | $1084789.75   | 3.74%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SS SPDR P SP400M         | CUSIP: 78464A847<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     19725 | NS      | $1142274.75   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SPDR S&P HOMEBUI         | CUSIP: 78464A888<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |      2975 | NS      | $306306.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Spdr Dow Jones Industrial Average Etf Trust | SPDR DJIA TRUST          | CUSIP: 78467X109<br>LEI: 54930039F2SG3UG2OZ18 | Long             | EC               | RF                | US        |      2275 | NS      | $1093296.75   | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SS SPDR P SP600S         | CUSIP: 78468R853<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     22895 | NS      | $1072859.70   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                 | SS MATERIALS ETF         | CUSIP: 81369Y100<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     14210 | NS      | $644423.50    | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                 | SS CONSUMER DISC         | CUSIP: 81369Y407<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      5325 | NS      | $635858.25    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                 | SS FINANCIAL SEL         | CUSIP: 81369Y605<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     11640 | NS      | $637522.80    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                 | SS COMM SLCT ETF         | CUSIP: 81369Y852<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      5425 | NS      | $638631.00    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                 | SS UTILITIES SEL         | CUSIP: 81369Y886<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     14925 | NS      | $637148.25    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Tidal Trust II                                           | PINNACLE FCSD OP         | CUSIP: 88634T519<br>LEI: 549300BGXECFCIZF2P89 | Long             | EC               | RF                | US        |    255685 | NS      | $8023420.87   | 27.70%            |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                                         | VANECK STEEL ETF         | CUSIP: 92189F205<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |      3700 | NS      | $313982.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                                         | V/E SEMICONDUCT          | CUSIP: 92189F676<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |       845 | NS      | $304309.85    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-28

**Name of Applicant:** NORTHERN LIGHTS FUND TRUST III

**Signature:** Rich Gleason

**Name of Signer:** Rich Gleason

**Title:** Treasurer