# EDGAR Filing Document

**Accession Number:** 0001722388
**File Stem:** 0002000324-25-002698
**Filing Date:** 2025-8
**Character Count:** 35060
**Document Hash:** 8898eb46155159122917887808e6eab2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-002698.hdr.sgml**: 20250811

**ACCESSION NUMBER**: 0002000324-25-002698

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250131

**FILED AS OF DATE**: 20250811

**DATE AS OF CHANGE**: 20250811

**PERIOD START**: 20250731

**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/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23312
- **FILM NUMBER:** 251200768

**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

### Rockefeller California Municipal Bond ETF (Series ID: S000086368)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000251862 | Rockefeller California Municipal Bond ETF | RMCA            |

## 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:** Rockefeller California Municipal Bond ETF

- **b. EDGAR series identifier (if any):** S000086368

- **c. LEI of Series:** 254900DX9FOOL95T1K22

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-01-31

**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:** $17891688.83

**Total Liabilities:** $583128.35

**Net Assets:** $17308560.48

**Delayed Delivery Securities:** $531330.00

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** -329.18 | **10-Year:** -8040.15 | **30-Year:** -11293.21

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** -66.28 | **10-Year:** -226.31 | **30-Year:** -838.13

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000251862 | 1.67%                | -1.87%               | 0.79%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-48432.15               | $263737.51                                 |
| Month 2  | $-5166.00                | $-323087.28                                |
| Month 3  | $-72063.24               | $88729.73                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Antonio B Won Pat International Airport Authority  | Antonio B Won Pat International Airport Authority                            | CUSIP: 40064RFX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105495.18    | 0.61%             | 2041-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Avenal Public Financing Authority                  | Avenal Public Financing Authority                                            | CUSIP: 053559AZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $39593.77     | 0.23%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Burbank-Glendale-Pasadena Airport Authority Brick  | Burbank-Glendale-Pasadena Airport Authority Brick                            | CUSIP: 120827CQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60003.52     | 0.35%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A                     | California Community Choice Financing Authority                              | CUSIP: 13013JEA0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    450000 | PA      | $474713.24    | 2.74%             | 2055-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CA TOBACCO SEC                     | California County Tobacco Securitization Agency                              | CUSIP: 13016NBY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100845.39    | 0.58%             | 2042-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency    | California County Tobacco Securitization Agency                              | CUSIP: 13016NCH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $21506.44     | 0.12%             | 2050-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency    | California County Tobacco Securitization Agency                              | CUSIP: 13016NCX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $320793.88    | 1.85%             | 2046-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency    | California County Tobacco Securitization Agency                              | CUSIP: 13016NHB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $260360.38    | 1.50%             | 2055-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Educational Facilities Authority        | California Educational Facilities Authority                                  | CUSIP: 130179VJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259478.38    | 1.50%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority   | California Health Facilities Financing Authority                             | CUSIP: 13032USL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100038.30    | 0.58%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority   | California Health Facilities Financing Authority                             | CUSIP: 13032UUD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25024.69     | 0.14%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority   | California Health Facilities Financing Authority                             | CUSIP: 13032UYJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $352317.63    | 2.04%             | 2050-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority   | California Health Facilities Financing Authority                             | CUSIP: 13033LM87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500569.30    | 2.89%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                  | California Housing Finance Agency                                            | CUSIP: 13032WCE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $147675.21    | 0.85%             | 2052-08-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development B | California Infrastructure & Economic Development B                           | CUSIP: 13035CAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $288749.58    | 1.67%             | 2054-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH STUDEN                     | California Municipal Finance Authority                                       | CUSIP: 13051EAJ9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    250000 | PA      | $251226.98    | 1.45%             | 2055-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                                       | CUSIP: 130486BC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149579.90    | 0.86%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                                       | CUSIP: 13048DDG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $126067.23    | 0.73%             | 2055-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                                       | CUSIP: 13048TVF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45000.21     | 0.26%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                                       | CUSIP: 13048VKW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $296257.41    | 1.71%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                                       | CUSIP: 13048VMX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $178599.92    | 1.03%             | 2048-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                                       | CUSIP: 13048VPX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $47746.74     | 0.28%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                                       | CUSIP: 13048VXC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10683.54     | 0.06%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                                       | CUSIP: 13049SGD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $258041.03    | 1.49%             | 2059-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN                     | California Public Finance Authority                                          | CUSIP: 13057GAP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499290.60    | 2.88%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| California School Facilities Financing Authority   | California School Facilities Financing Authority                             | CUSIP: 13058RAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $712570.00    | 4.12%             | 2049-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                                          | CUSIP: 13058TCK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45012.92     | 0.26%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                                          | CUSIP: 13058TEZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201166.60    | 1.16%             | 2047-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                                          | CUSIP: 13058TKK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300358.98    | 1.74%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                                          | CUSIP: 13058TPF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $318690.32    | 1.84%             | 2061-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                                          | CUSIP: 13058TUF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $153045.83    | 0.88%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                                          | CUSIP: 13058TUW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149991.56    | 0.87%             | 2064-07-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                                          | CUSIP: 13059TJR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $122078.87    | 0.71%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE                     | California Municipal Finance Authority                                       | CUSIP: 13048VUP1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    410000 | PA      | $328418.61    | 1.90%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho                           | CUSIP: 13077ERJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101799.65    | 0.59%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho                           | CUSIP: 13079PZR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $244753.75    | 1.41%             | 2042-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho                           | CUSIP: 13080SMK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100513.07    | 0.58%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho                           | CUSIP: 13080SVL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25618.65     | 0.15%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho                           | CUSIP: 13080SX33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $335960.38    | 1.94%             | 2049-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Financing Authority           | California Statewide Financing Authority                                     | CUSIP: 130923BG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $122734.87    | 0.71%             | 2037-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT                     | California Statewide Communities Development Authority                       | CUSIP: 13080SEX8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |     70000 | PA      | $70029.13     | 0.40%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                              | Children's Trust Fund                                                        | CUSIP: 16876QBG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $15190.24     | 0.09%             | 2043-05-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports         | City of Los Angeles Department of Airports                                   | CUSIP: 544445ET2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $718023.88    | 4.15%             | 2048-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports         | City of Los Angeles Department of Airports                                   | CUSIP: 544445MC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253665.53    | 1.47%             | 2049-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Menifee CA                                 | City of Menifee CA                                                           | CUSIP: 58680WFA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $256597.38    | 1.48%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Roseville CA                               | City of Roseville CA                                                         | CUSIP: 7778706Q4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102729.02    | 0.59%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clovis Unified School District                     | Clovis Unified School District                                               | CUSIP: 189342T32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $497213.70    | 2.87%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Eastern Municipal Water District                   | Eastern Municipal Water District                                             | CUSIP: 27627M4P9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $256433.55    | 1.48%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hemet Unified School District                      | Hemet Unified School District                                                | CUSIP: 423540KN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $255885.93    | 1.48%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Independent Cities Finance Authority               | Independent Cities Finance Authority                                         | CUSIP: 45385LFG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50016.38     | 0.29%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power            | Los Angeles Department of Water & Power                                      | CUSIP: 544532JT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $468945.95    | 2.71%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power            | Los Angeles Department of Water & Power                                      | CUSIP: 544532NJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $52337.84     | 0.30%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA             | Los Angeles Unified School District/CA                                       | CUSIP: 544647JM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $489931.25    | 2.83%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| M-S-R Energy Authority                             | M-S-R Energy Authority                                                       | CUSIP: 55374SAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21257.24     | 0.12%             | 2029-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Poway Unified School District Public Financing Aut | Poway Unified School District Public Financing Aut                           | CUSIP: 73885QDN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100093.98    | 0.58%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Rev | Puerto Rico Sales Tax Financing Corp Sales Tax Rev                           | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     27000 | PA      | $27068.03     | 0.16%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                     | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                       | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $151212.25    | 0.87%             | 2051-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Romoland School District                           | Romoland School District                                                     | CUSIP: 776192WT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $512867.10    | 2.96%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority        | San Diego County Regional Airport Authority                                  | CUSIP: 79739GNS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $117281.10    | 0.68%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority        | San Diego County Regional Airport Authority                                  | CUSIP: 79739GNY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $766479.68    | 4.43%             | 2056-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority        | San Diego County Regional Airport Authority                                  | CUSIP: 79742GAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $426618.49    | 2.46%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY &CNTY                     | San Francisco City & County Airport Comm-San Francisco International Airport | CUSIP: 79766DXQ7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    500000 | PA      | $541058.90    | 3.13%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Franc | San Francisco City & County Airport Comm-San Franc                           | CUSIP: 79766DGF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250482.03    | 1.45%             | 2046-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Franc | San Francisco City & County Airport Comm-San Franc                           | CUSIP: 79766DWX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528396.60    | 3.05%             | 2049-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Public Utilities Commi | San Francisco City & County Public Utilities Commi                           | CUSIP: 79768HDA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $349543.15    | 2.02%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Luis Obispo County Community College District  | San Luis Obispo County Community College District                            | CUSIP: 798684DF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249686.43    | 1.44%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Marcos Unified School District                 | San Marcos Unified School District                                           | CUSIP: 798762QK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $92723.75     | 0.54%             | 2048-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Silicon Valley Tobacco Securitization Authority    | Silicon Valley Tobacco Securitization Authority                              | CUSIP: 82706TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $536633.70    | 3.10%             | 2036-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| State of California                                | State of California                                                          | CUSIP: 13063ECQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $248393.58    | 1.44%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Securitization Authority of Southern Calif | Tobacco Securitization Authority of Southern Calif                           | CUSIP: 888804BA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $308778.00    | 1.78%             | 2046-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Valley Center Municipal Water District             | Valley Center Municipal Water District                                       | CUSIP: 919389AD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $551012.68    | 3.18%             | 2047-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Washington Township Health Care District           | Washington Township Health Care District                                     | CUSIP: 940642CV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $271247.76    | 1.57%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-11

**Name of Applicant:** Tidal Trust III

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer