# EDGAR Filing Document

**Accession Number:** 0001722388
**File Stem:** 0002000324-25-004771
**Filing Date:** 2025-12
**Character Count:** 25015
**Document Hash:** 0116873516de921a102008b9e510d50f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-004771.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0002000324-25-004771

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tidal Trust III
- **CENTRAL INDEX KEY:** 0001722388

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23312
- **FILM NUMBER:** 251607492

**BUSINESS ADDRESS:**
- **STREET 1:** CORPORATION TRUST CENTER 1209 ORANGE ST
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801
- **BUSINESS PHONE:** 4694428424

**MAIL ADDRESS:**
- **STREET 1:** CORPORATION TRUST CENTER 1209 ORANGE ST
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Impact Shares Trust I
- **DATE OF NAME CHANGE:** 20180319

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Impact Shares Funds I Trust
- **DATE OF NAME CHANGE:** 20171113

## Series and Classes Contracts Data

### VistaShares Target 15 ACKtivist Distribution ETF (Series ID: S000094438)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000262948 | VistaShares Target 15 ACKtivist Distribution ETF |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **VistaShares Target 15 ACKtivist Select Income ETF** | **VistaShares Target 15 ACKtivist Select Income ETF** | **VistaShares Target 15 ACKtivist Select Income ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **October 31, 2025 (Unaudited)** | **October 31, 2025 (Unaudited)** | **October 31, 2025 (Unaudited)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCKS - 39.1%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Discretionary Services - 0.0%<sup>(a)</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc. - Class A<sup>(b)</sup> | 27 | $856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | 16 | 4111 |
|  |  | 4967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial Services - 0.0%<sup>(a)</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corp. - Class A | 86 | 3960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Media - 28.8%<sup>(c)</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A | 10282 | 2891196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class C | 7 | 1973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uber Technologies, Inc.<sup>(b)</sup> | 72115 | 6959097 |
|  |  | 9852266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Real Estate - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howard Hughes Holdings, Inc.<sup>(b)</sup> | 60 | 4757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seaport Entertainment Group, Inc.<sup>(b)</sup> | 9054 | 217930 |
|  |  | 222687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Retail & Wholesale - Discretionary - 9.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc.<sup>(b)</sup> | 12705 | 3102815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hertz Global Holdings, Inc.<sup>(b)</sup> | 39399 | 202117 |
|  |  | 3304932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL COMMON STOCKS (Cost $12,948,131)** |  | 13388812 |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**PURCHASED OPTIONS - 16.9%<sup>(b)(d)(e)(f)</sup>** | **Notional Amount** | **Contracts** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Call Options - 16.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Expiration: 11/7/2025; Exercise Price: $200.00 | $3410022 | 121 | 995225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Expiration: 11/21/2025; Exercise Price: $290.00 | 3410022 | 121 | 67155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Expiration: 11/21/2025; Exercise Price: $285.00 | 2868138 | 102 | 74970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc., Expiration: 11/21/2025; Exercise Price: $250.00 | 3101594 | 127 | 66675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corp., Expiration: 11/21/2025; Exercise Price: $50.00 | 6299640 | 1368 | 37620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corp., Expiration: 11/21/2025; Exercise Price: $35.00 | 6299640 | 1368 | 1573200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc., Expiration: 11/7/2025; Exercise Price: $30.00 | 2307032 | 728 | 136500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc., Expiration: 11/21/2025; Exercise Price: $52.50 | 2307032 | 728 | 1092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hertz Global Holdings, Inc., Expiration: 11/21/2025; Exercise Price: $8.00 | 201609 | 393 | 5895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc., Expiration: 11/7/2025; Exercise Price: $200.00 | 1773024 | 69 | 395715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc., Expiration: 11/21/2025; Exercise Price: $290.00 | 1773024 | 69 | 3450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howard Hughes Holdings, Inc., Expiration: 11/21/2025; Exercise Price: $90.00 | 3107776 | 392 | 19600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howard Hughes Holdings, Inc., Expiration: 11/21/2025; Exercise Price: $50.00 | 3107776 | 392 | 1140720 |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restaurant Brands International, Inc., Expiration: 11/21/2025; Exercise Price: $77.50 | 3422449.0 | 521.0 | 19537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restaurant Brands International, Inc., Expiration: 11/21/2025; Exercise Price: $70.00 | 387571.0 | 59.0 | 1475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restaurant Brands International, Inc., Expiration: 11/21/2025; Exercise Price: $45.00 | 3810020.0 | 580.0 | 1232500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uber Technologies, Inc., Expiration: 11/21/2025; Exercise Price: $115.00 | 6957650.0 | 721.0 | 33887 |
|  |  |  | 5805216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL PURCHASED OPTIONS (Cost $6,618,120)** |  |  | 5805216 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHORT-TERM INVESTMENTS - 47.6%** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Money Market Funds - 47.6%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund - Class X, 4.03%<sup>(g)</sup> | 16300403 | 16300403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SHORT-TERM INVESTMENTS (Cost $16,300,403)** |  | 16300403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 103.6% (Cost $35,866,654)** |  | $35494431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities in Excess of Other Assets - (3.6)% |  | (1227519) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  | $34266912 |

---

Percentages are stated as a percent of net assets.

(a) Does not round to 0.1% or (0.1)%,
 as applicable.

(b) Non-income producing security.

(c) To the extent that the Fund invests more heavily in
 a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect
 those industries or sectors.

(d) Exchange-traded.

(e) 100 shares per contract.

(f) Held in connection with written option contracts. See
 Schedule of Written Options Contracts for further information.

(g) The rate shown represents the 7-day annualized effective
 yield as of October 31, 2025.

---

| | | | |
|:---|:---|:---|:---|
| **VistaShares Target 15 ACKtivist Select Income ETF** | **VistaShares Target 15 ACKtivist Select Income ETF** | **VistaShares Target 15 ACKtivist Select Income ETF** | **VistaShares Target 15 ACKtivist Select Income ETF** |
| **Schedule of Written Options Contracts** | **Schedule of Written Options Contracts** | **Schedule of Written Options Contracts** | **Schedule of Written Options Contracts** |
| **October 31, 2025 (Unaudited)** | **October 31, 2025 (Unaudited)** | **October 31, 2025 (Unaudited)** | **October 31, 2025 (Unaudited)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**WRITTEN OPTIONS - (2.7)%<sup>(a)(b)</sup>** | **Notional <br> Amount** | **Contracts** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Call Options - (2.7)%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Expiration: 11/21/2025; Exercise Price: $285.00 | $(3410022) | (121) | $(91657) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Expiration: 11/21/2025; Exercise Price: $265.00 | (2868138) | (102) | (206805) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc., Expiration: 11/21/2025; Exercise Price: $235.00 | (3101594) | (127) | (176212) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corp., Expiration: 11/21/2025; Exercise Price: $45.00 | (6299640) | (1368) | (242820) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc., Expiration: 11/21/2025; Exercise Price: $47.50 | (2307032) | (728) | (2184) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hertz Global Holdings, Inc., Expiration: 11/21/2025; Exercise Price: $7.00 | (201609) | (393) | (6878) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc., Expiration: 11/21/2025; Exercise Price: $270.00 | (1773024) | (69) | (15870) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howard Hughes Holdings, Inc., Expiration: 11/21/2025; Exercise Price: $85.00 | (3107776) | (392) | (37240) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restaurant Brands International, Inc., Expiration: 11/21/2025; Exercise Price: $72.50 | (3422449) | (521) | (5210) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restaurant Brands International, Inc., Expiration: 11/21/2025; Exercise Price: $67.50 | (387571) | (59) | (4573) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uber Technologies, Inc., Expiration: 11/21/2025; Exercise Price: $105.00 | (6957650) | (721) | (122931) |
|  |  |  | (912380) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL WRITTEN OPTIONS (Premiums received $871,663)** |  |  | (912380) |

---

Percentages are stated as a percent of net assets.

(a) 100 shares per contract.

(b) Exchange-traded.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Tidal Trust III

- **b. Investment Company Act file number:** 811-23312

- **c. CIK number of Registrant:** 0001722388

- **d. LEI of Registrant:** 254900O7GV43AAUCM784

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

  - **Street Address 1:** 234 West Florida Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

  - **Telephone number:** 8449867676

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

- **a. Name of Series:** Vistashares Target 15 Acktivist Distribution ETF

- **b. EDGAR series identifier (if any):** S000094438

- **c. LEI of Series:** 2549008FJ7HFEHBV8B36

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $35564666.88

**Total Liabilities:** $1300807.50

**Net Assets:** $34263859.38

**Cash Not Reported:** $1594258.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000262948 |  | 0.94%                | 0.86%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $-2252.04                | $-235208.04                                |
| Month 3  | $619254.49               | $675888.67                                 |

**Designated Index Information**

- **Index Name:** NYSE FANG+ Total Return Index

- **Index Identifier:** NYFANGT

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alphabet Inc                   | Alphabet Inc                               | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |         7 | NS      | $1972.74      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     10282 | NS      | $2891195.58   | 8.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     12705 | NS      | $3102815.10   | 9.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corp                | Brookfield Corp                            | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |        86 | NS      | $3960.30      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc     | Chipotle Mexican Grill Inc                 | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        27 | NS      | $855.63       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  14508146 | NS      | $14508145.53  | 42.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Hertz Global Holdings Inc      | Hertz Global Holdings Inc                  | CUSIP: 42806J700<br>LEI: 549300NBK3K85MH1EX16 | Long             | EC               | CORP              | US        |     39399 | NS      | $202116.87    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc  | Hilton Worldwide Holdings Inc              | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |        16 | NS      | $4111.36      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings Inc     | Howard Hughes Holdings Inc                 | CUSIP: 44267T102<br>LEI: 254900TY494BHXIU6M60 | Long             | EC               | CORP              | US        |        60 | NS      | $4756.80      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Alphabet Inc                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -102 | NC      | $-206805.00   | -0.60%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Amazon.com Inc                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       127 | NC      | $66675.00     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AMZN US 11/21/25 C235                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -127 | NC      | $-176212.50   | -0.51%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | BN US 11/21/25 C35                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1368 | NC      | $1573200.00   | 4.59%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | BN US 11/21/25 C45                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1368 | NC      | $-242820.00   | -0.71%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | BN US 11/21/25 C50                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1368 | NC      | $37620.00     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CMG US 11/07/25 C30                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       728 | NC      | $136500.00    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CMG US 11/21/25 C47.5                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -728 | NC      | $-2184.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CMG US 11/21/25 C52.5                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       728 | NC      | $1092.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | GOOG US 11/07/25 C200                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       121 | NC      | $995225.00    | 2.90%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | GOOG US 11/21/25 C265                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -121 | NC      | $-247142.50   | -0.72%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | GOOG US 11/21/25 C280                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       121 | NC      | $122210.00    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | GOOGL US 11/21/25 C285                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       102 | NC      | $74970.00     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | HHH US 11/21/25 C50                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       392 | NC      | $1140720.00   | 3.33%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | HHH US 11/21/25 C90                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       392 | NC      | $19600.00     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | HLT US 11/07/25 C200                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        69 | NC      | $395715.00    | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | HLT US 11/21/25 C270                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -69 | NC      | $-15870.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | HLT US 11/21/25 C290                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        69 | NC      | $3450.00      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Howard Hughes Holdings Inc                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -392 | NC      | $-37240.00    | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | HTZ US 11/21/25 C7                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -393 | NC      | $-6877.50     | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | HTZ US 11/21/25 C8                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       393 | NC      | $5895.00      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | QSR US 11/21/25 C45                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       580 | NC      | $1232500.00   | 3.60%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | QSR US 11/21/25 C67.5                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -59 | NC      | $-4572.50     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | QSR US 11/21/25 C72.5                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -521 | NC      | $-5210.00     | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | QSR US 11/21/25 C77.5                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       521 | NC      | $19537.50     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Restaurant Brands International Inc        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        59 | NC      | $1475.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | UBER US 11/21/25 C105                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -721 | NC      | $-122930.50   | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | UBER US 11/21/25 C115                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       721 | NC      | $33887.00     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Seaport Entertainment Group In | Seaport Entertainment Group Inc            | CUSIP: 812215200<br>LEI: 2549006G3SN205YAST27 | Long             | EC               | CORP              | US        |      9054 | NS      | $217929.78    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc          | Uber Technologies Inc                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     72115 | NS      | $6959097.50   | 20.31%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-29

**Name of Applicant:** Tidal Trust III

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer