# EDGAR Filing Document

**Accession Number:** 0001722388
**File Stem:** 0002000324-26-000295
**Filing Date:** 2026-1
**Character Count:** 13755
**Document Hash:** 1d1e4405b1ff12e37916a6bd44d968c9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-000295.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0002000324-26-000295

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260831

**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:** 26572463

**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

### Stoneport Advisors Commodity Long Short ETF (Series ID: S000095252)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000263956 | Stoneport Advisors Commodity Long Short ETF |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Stoneport Advisors Commodity Long Short ETF** | **Stoneport Advisors Commodity Long Short ETF** | **Stoneport Advisors Commodity Long Short ETF** |
| **Consolidated Schedule of Investments** | **Consolidated Schedule of Investments** | **Consolidated Schedule of Investments** |
| **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHORT-TERM INVESTMENTS - 90.4%** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Money Market Funds - 90.4%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund - Class X, 3.92%<sup>(a)</sup> | 2776411 | $2776411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SHORT-TERM INVESTMENTS (Cost $2,776,411)** |  | 2776411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 90.4% (Cost $2,776,411)** |  | $2776411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Assets in Excess of Liabilities - 9.6% |  | 295459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  | $3071870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percentages are stated as a percent of net assets. |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) The
rate shown represents the 7-day annualized effective yield as of November 30, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Stoneport Advisors Commodity Long Short ETF** | **Stoneport Advisors Commodity Long Short ETF** | **Stoneport Advisors Commodity Long Short ETF** | **Stoneport Advisors Commodity Long Short ETF** | **Stoneport Advisors Commodity Long Short ETF** |
| **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** |
| **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** |
| **FUTURES CONTRACTS - 1.8%** | | | | |
| **Description** | **Contracts<br> Purchased** | **Expiration Date** | **Notional Value** | **Value / Unrealized Appreciation (Depreciation)** |
| Copper<sup>(a)</sup> | 2 | 03/27/2026 | $263600 | $9494 |
| Corn<sup>(a)</sup> | 7 | 03/13/2026 | 156712 | 1511 |
| Gold<sup>(a)</sup> | 1 | 02/25/2026 | 425490 | 21207 |
| Low Sulphur Gas Oil<sup>(a)</sup> | 2 | 01/12/2026 | 133950 | (5530) |
| Natural Gas<sup>(a)</sup> | 3 | 12/29/2025 | 145500 | 9700 |
| NY Harbor Ultra-Low Sulfur Diesel<sup>(a)</sup> | 1 | 12/31/2025 | 96730 | (5333) |
| Soybean Meal<sup>(a)</sup> | 1 | 01/14/2026 | 31870 | (24) |
| Soybeans<sup>(a)</sup> | 3 | 01/14/2026 | 170663 | 2239 |
|  |  |  |  | 33264 |
| **Description** | **Contracts<br> Sold** | **Expiration Date** | **Notional Value** | **Value / Unrealized Appreciation (Depreciation)** |
| Brent Crude Oil<sup>(a)</sup> | (7) | 12/30/2025 | (436660) | 9153 |
| Cotton No.2<sup>(a)</sup> | (1) | 03/09/2026 | (32355) | 211 |
| Kansas City Hard Red Winter Wheat<sup>(a)</sup> | (1) | 03/13/2026 | (26375) | 221 |
| Lean Hogs<sup>(a)</sup> | (2) | 02/13/2026 | (64800) | (187) |
| Live Cattle<sup>(a)</sup> | (1) | 02/27/2026 | (87140) | 756 |
| Reformulated Gasoline Blendstock<sup>(a)</sup> | (1) | 12/31/2025 | (76503) | 2698 |
| Soybean Oil<sup>(a)</sup> | (1) | 01/14/2026 | (31230) | (1246) |
| Sugar #11<sup>(a)</sup> | (3) | 02/27/2026 | (51106) | (3124) |
| Wheat<sup>(a)</sup> | (3) | 03/13/2026 | (80775) | 1314 |
| WTI Crude Oil<sup>(a)</sup> | (8) | 12/19/2025 | (468400) | 11925 |
|  |  |  |  | 21721 |
| **Net Unrealized Appreciation (Depreciation)** |  |  |  | 54985 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) All
or a portion of the investment is a holding of the Stoneport Advisors Commodity LS Cayman Subsidiary.

## 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:** Stoneport Advisors Commodity Long Short ETF

- **b. EDGAR series identifier (if any):** S000095252

- **c. LEI of Series:** 254900PODP0H0V0RSM76

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $3073884.75

**Total Liabilities:** $2019.04

**Net Assets:** $3071865.71

**Amount of Assets Invested in Other Investment Companies:** $290634.14

**Cash Not Reported:** $267488.44

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000263956 |  |  | 2.40%                |

**Monthly Gains & Losses**

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

**Designated Index Information**

- **Index Name:** S&P 500 Total Return Index

- **Index Identifier:** SPTR

### 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 Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   2776411 | NS      | $2776411.08   | 90.38%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | BRENT CRUDE FUTR  Feb26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -7 | NC      | $9153.34      | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | COPPER FUTURE     Mar26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         2 | NC      | $9493.56      | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CORN FUTURE       Mar26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         7 | NC      | $1511.25      | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | COTTON NO.2 FUTR  Mar26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $211.38       | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | GASOLINE RBOB FUT Jan26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $2697.48      | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | GOLD 100 OZ FUTR  Feb26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         1 | NC      | $21206.88     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | KC HRW WHEAT FUT  Mar26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $221.25       | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LEAN HOGS FUTURE  Feb26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -2 | NC      | $-187.44      | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LIVE CATTLE FUTR  Feb26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $756.28       | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Low Su Gasoil G   Jan26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         2 | NC      | $-5529.76     | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | NATURAL GAS FUTR  Jan26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         3 | NC      | $9700.34      | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | NY Harb ULSD Fut  Jan26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         1 | NC      | $-5332.92     | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SOYBEAN FUTURE    Jan26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         3 | NC      | $2238.75      | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SOYBEAN MEAL FUTR Jan26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         1 | NC      | $-23.75       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SOYBEAN OIL FUTR  Jan26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -1 | NC      | $-1245.75     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SUGAR #11 (WORLD) Mar26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -3 | NC      | $-3124.46     | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | WHEAT FUTURE(CBT) Mar26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -3 | NC      | $1313.75      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | WTI CRUDE FUTURE  Jan26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        -8 | NC      | $11925.04     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Tidal Trust III

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer