# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0000910472-25-000444
**Filing Date:** 2025-8
**Character Count:** 18030
**Document Hash:** 53d19968edc8832706b617b488f9bba7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-000444.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0000910472-25-000444

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250930

**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:** 251274555

**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

### Absolute Capital Defender Fund (Series ID: S000051216)

| Class ID   | Class Name                                                | Ticker Symbol   |
|:---|:---|:---|
| C000161387 | Absolute Capital Defender Fund Class A Shares             | ACMAX           |
| C000161388 | Absolute Capital Defender Fund Institutional Class Shares | ACMIX           |
| C000161389 | Absolute Capital Defender Fund Investor Class Shares      | ACMDX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **ABSOLUTE CAPITAL DEFENDER FUND** | **ABSOLUTE CAPITAL DEFENDER FUND** | **ABSOLUTE CAPITAL DEFENDER FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 20.0%** |  |
|  | **ASSET MANAGEMENT - 2.4%** |  |
| 4100 | Blackstone, Inc. | &nbsp;&nbsp;&nbsp; $613278 |
|  | **CHEMICALS - 1.1%** |  |
| 1100 | Ecolab, Inc. | &nbsp;&nbsp;&nbsp; 296384 |
|  | **DIVERSIFIED INDUSTRIALS - 1.0%** |  |
| 1100 | Illinois Tool Works, Inc. | &nbsp;&nbsp;&nbsp; 271975 |
|  | **HEALTH CARE FACILITIES & SERVICES - 0.7%** |  |
| 600 | UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp; 187182 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 3.3%** |  |
| 1200 | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 849300 |
|  | **INSURANCE - 2.8%** |  |
| 1500 | Berkshire Hathaway, Inc., Class B<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 728655 |
|  | **INTERNET MEDIA & SERVICES - 2.1%** |  |
| 400 | Netflix, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 535652 |
|  | **RETAIL - CONSUMER STAPLES - 1.9%** |  |
| 500 | Costco Wholesale Corporation | &nbsp;&nbsp;&nbsp; 494970 |
|  | **SOFTWARE - 2.5%** |  |
| 1300 | Microsoft Corporation | &nbsp;&nbsp;&nbsp; 646633 |
|  | **TECHNOLOGY SERVICES - 1.4%** |  |
| 1000 | Visa, Inc., Class A | &nbsp;&nbsp;&nbsp; 355050 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ABSOLUTE CAPITAL DEFENDER FUND** | **ABSOLUTE CAPITAL DEFENDER FUND** | **ABSOLUTE CAPITAL DEFENDER FUND** | **ABSOLUTE CAPITAL DEFENDER FUND** | **ABSOLUTE CAPITAL DEFENDER FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  |  |  | **Fair Value** |
|  | **COMMON STOCKS — 20.0% (Continued)** |  |  |  |
|  | **TOBACCO & CANNABIS - 0.8%** |  |  |  |
| 3600 | Altria Group, Inc. |  |  | &nbsp;&nbsp;&nbsp; $211068 |
|  | **TOTAL COMMON STOCKS (Cost $4,299,484)** |  |  | &nbsp;&nbsp; 5190147 |
|  | **EXCHANGE-TRADED FUNDS — 55.5%** |  |  |  |
|  | **EQUITY - 53.5%** |  |  |  |
| 13500 | Invesco S&P 500 Revenue ETF |  |  | &nbsp;&nbsp;&nbsp; 1407915 |
| 42000 | iShares Core Dividend ETF |  |  | &nbsp;&nbsp;&nbsp; 2113440 |
| 14000 | iShares Currency Hedged MSCI EAFE ETF |  |  | &nbsp;&nbsp;&nbsp; 531440 |
| 20500 | iShares Morningstar Value ETF |  |  | &nbsp;&nbsp;&nbsp; 1709495 |
| 11400 | iShares MSCI Eurozone ETF |  |  | &nbsp;&nbsp;&nbsp; 677730 |
| 14500 | SPDR S&P 1500 Value Tilt ETF |  |  | &nbsp;&nbsp;&nbsp; 2786175 |
| 6700 | Technology Select Sector SPDR ETF |  |  | &nbsp;&nbsp;&nbsp; 1696641 |
| 8200 | Vanguard Communication Services ETF |  |  | &nbsp;&nbsp;&nbsp; 1402446 |
| 4500 | Vanguard Consumer Staples ETF |  |  | &nbsp;&nbsp;&nbsp; 985500 |
| 1000 | Vanguard S&P 500 ETF |  |  | &nbsp;&nbsp;&nbsp; 568030 |
|  |  |  |  | &nbsp;&nbsp; 13878812 |
|  | **FIXED INCOME - 2.0%** |  |  |  |
| 10000 | Janus Henderson AAA CLO ETF |  |  | &nbsp;&nbsp;&nbsp; 507500 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $12,957,058)** |  |  | &nbsp;&nbsp; 14386312 |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** |  |
|  | **U.S. GOVERNMENT & AGENCIES — 8.2%** |  |  |  |
|  | **U.S. TREASURY NOTES** — **8.2%** |  |  |  |
| 700000 | United States Treasury Note | 4.3750 | &nbsp;&nbsp;&nbsp;12/15/26 | 705277 |
| 1400000 | United States Treasury Note | 3.8750 | &nbsp;&nbsp;&nbsp;12/31/27 | 1406016 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $2,092,741)** |  |  | 2111293 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ABSOLUTE CAPITAL DEFENDER FUND** | **ABSOLUTE CAPITAL DEFENDER FUND** | **ABSOLUTE CAPITAL DEFENDER FUND** | **ABSOLUTE CAPITAL DEFENDER FUND** | **ABSOLUTE CAPITAL DEFENDER FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  |  |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENTS — 16.4%** |  |  |  |
|  | **MONEY MARKET FUNDS - 4.5%** |  |  |  |
| 1175524 | First American Government Obligations Fund, Class X, 4.25%<sup>(b)</sup> |  |  | &nbsp;&nbsp;&nbsp; $1175524 |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** |  |
|  | **U.S. TREASURY BILLS** — **11.9%** |  |  |  |
| 3100000 | United States Treasury Bill | 4.2700 | &nbsp;&nbsp;&nbsp;09/04/25 | &nbsp;&nbsp;&nbsp; 3076226 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $4,251,764)** |  |  | &nbsp;&nbsp; 4251750 |
|  | **TOTAL INVESTMENTS - 100.1% (Cost $23,601,047)** |  |  | &nbsp;&nbsp;&nbsp; $25939502 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%** |  |  | &nbsp;&nbsp; (21895) |
|  | **NET ASSETS - 100.0%** |  |  | &nbsp;&nbsp; $25917607 |

---

---

| | |
|:---|:---|
| EAFE | - Europe, Australasia and Far East |
| ETF | - Exchange-Traded Fund |
| MSCI | - Morgan Stanley Capital International |
| SPDR | - Standard & Poor's Depositary Receipt |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> Rate disclosed is the seven day effective yield as of June 30, 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:** Absolute Capital Defender Fund

- **b. EDGAR series identifier (if any):** S000051216

- **c. LEI of Series:** 5493001IKPBKJOOLYY67

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $26021323.14

**Total Liabilities:** $103715.76

**Net Assets:** $25917607.38

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161388 | -0.64%               | 2.85%                | 3.22%                |
| Class ID C000161389 | -0.78%               | 2.85%                | 3.05%                |
| Class ID C000161387 | -0.73%               | 2.76%                | 3.22%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8778.49                 | $-181754.70                                |
| Month 2  | $34561.37                | $656534.75                                 |
| Month 3  | $-37088.87               | $791830.35                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SPDR Series Trust                     | SPDR-SP1500 VAL           | CUSIP: 78464A128<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     14500 | NS      | $2786175.00   | 10.75%            |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                    | ALTRIA GROUP INC          | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      3600 | NS      | $211068.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes          | T 3 7/8 12/31/27          | CUSIP: 91282CGC9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1400000 | PA      | $1406015.63   | 5.42%             | 2027-12-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Vanguard World Fund                   | VANGUARD COMMUNI          | CUSIP: 92204A884<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |      8200 | NS      | $1402446.00   | 5.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                        | BLACKSTONE INC            | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |      4100 | NS      | $613278.00    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.             | FRST AM-GV OB-X           | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   1175524 | PA      | $1175524.22   | 4.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                         | NETFLIX INC               | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       400 | NS      | $535652.00    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                  | VANGUARD S&P 500          | CUSIP: 922908363<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      1000 | NS      | $568030.00    | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corporation          | COSTCO WHOLESALE          | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       500 | NS      | $494970.00    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                         | ISHARES MORNINGS          | CUSIP: 464288109<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     20500 | NS      | $1709495.00   | 6.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc.                           | ECOLAB INC                | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      1100 | NS      | $296384.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills          | B 09/04/25                | CUSIP: 912797MH7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3100000 | PA      | $3076225.79   | 11.87%            | 2025-09-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Invesco Exchange Traded Fund Trust II | INVESCO S&P 500           | CUSIP: 46138G698<br>LEI: O540V2L4S174Y60FMD36 | Long             | EC               | RF                | US        |     13500 | NS      | $1407915.00   | 5.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Inc                           | ISHARES MSCI EUR          | CUSIP: 464286608<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     11400 | NS      | $677730.00    | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                         | ISHA CURR HEDGED MSCI EAF | CUSIP: 46434V803<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     14000 | NS      | $531440.00    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                       | MICROSOFT CORP            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      1300 | NS      | $646633.00    | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc.              | ILLINOIS TOOL WO          | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      1100 | NS      | $271975.00    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard World Fund                   | VANGUARD CN ST E          | CUSIP: 92204A207<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |      4500 | NS      | $985500.00    | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes          | T 4 3/8 12/15/26          | CUSIP: 91282CJP7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    700000 | PA      | $705277.34    | 2.72%             | 2026-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc.               | UNITEDHEALTH GRP          | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       600 | NS      | $187182.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc.               | BERKSHIRE HATH-B          | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      1500 | NS      | $728655.00    | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.             | GOLDMAN SACHS GP          | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      1200 | NS      | $849300.00    | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust              | SPDR-TECH SEL S           | CUSIP: 81369Y803<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      6700 | NS      | $1696641.00   | 6.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                              | VISA INC-CLASS A          | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      1000 | NS      | $355050.00    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Detroit Street Trust            | JAN HEND AAA CLO          | CUSIP: 47103U845<br>LEI: 5493003MM7OCK5UJW595 | Long             | EC               | RF                | US        |     10000 | NS      | $507500.00    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                         | ISHARES CORE DIV          | CUSIP: 46435U861<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     42000 | NS      | $2113440.00   | 8.15%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

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

**Signature:** Rich Gleason

**Name of Signer:** Rich Gleason

**Title:** Treasurer