# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0001752724-23-045509
**Filing Date:** 2023-2
**Character Count:** 14066
**Document Hash:** cd3ab39a4ba19a10a9b79f99f77d1d13
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045509.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045509

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN LIGHTS FUND TRUST III
- **CENTRAL INDEX KEY:** 0001537140
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22655
- **FILM NUMBER:** 23680940

**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

### Swan Defined Risk Fund (Series ID: S000037505)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000115777 | Swan Defined Risk Fund Class A Shares | SDRAX           |
| C000115778 | Swan Defined Risk Fund Class C Shares | SDRCX           |
| C000115779 | Swan Defined Risk Fund Class I Shares | SDRIX           |

## 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:** Swan Defined Risk Fund

- **b. EDGAR series identifier (if any):** S000037505

- **c. LEI of Series:** 549300A86W0U1NC10X11

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $903924181.24

**Total Liabilities:** $34840686.74

**Net Assets:** $869083494.50

**Cash Not Reported:** $13279634.83

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000115778 | 5.94%                | 2.29%                | -2.88%               |
| Class ID C000115777 | 5.96%                | 2.28%                | -2.72%               |
| Class ID C000115779 | 5.93%                | 2.34%                | -2.77%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $10255069.64             | $58208994.38                               |
| Month 2  | $21045329.40             | $26600165.53                               |
| Month 3  | $14722604.75             | $-67486708.56                              |

**Designated Index Information**

- **Index Name:** S&P 500 (TR)

- **Index Identifier:** 500TR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Select Sector Spdr  | CONSUMER STAPLES SPDR     | CUSIP: 81369Y308<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    535973 | NS      | $39956787.15  | 4.60%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                 | SPXW US 01/13/23 P3625    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       264 | NC      | $250343.47    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Select Sector Spdr  | REAL ESTATE SELECT SECT S | CUSIP: 81369Y860<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    404587 | NS      | $14941397.92  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                 | SPXW US 12/30/22 P4060    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -544 | NC      | $-11995200.00 | -1.38%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPXW US 01/13/23 C4025    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       264 | NC      | $200095.49    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Select Sector Spdr  | TECHNOLOGY SELECT SECT SP | CUSIP: 81369Y803<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |   1155167 | NS      | $143748981.48 | 16.54%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                 | SPXW US 12/30/22 C3860    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -544 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPXW US 12/30/22 C4260    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       544 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Select Sector Spdr  | CONSUMER DISCRETIONARY SE | CUSIP: 81369Y407<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    422979 | NS      | $54631967.64  | 6.29%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERN FDS INC | FRST AM-GV OB-X           | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |     44125 | PA      | $44125.43     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                 | SPXW US 01/20/23 P3600    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       264 | NC      | $333854.89    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPX US 03/17/23 P3825     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       541 | NC      | $7458472.30   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Select Sector Spdr  | FINANCIAL SELECT SECTOR S | CUSIP: 81369Y605<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |   1896479 | NS      | $64859581.80  | 7.46%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                 | SPX US 03/17/23 P3250     | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -541 | NC      | $-951475.14   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Select Sector Spdr  | ENERGY SELECT SECTOR SPDR | CUSIP: 81369Y506<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    335905 | NS      | $29381610.35  | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                 | SPXW US 01/13/23 C3825    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -264 | NC      | $-1994321.65  | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPXW US 12/30/22 P3660    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       544 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPX US 12/20/24 P3800     | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |      1570 | NC      | $56416375.69  | 6.49%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPXW US 01/13/23 P3825    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -264 | NC      | $-1526749.25  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| Select Sector Spdr  | UTILITIES SELECT SECTOR S | CUSIP: 81369Y886<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    249098 | NS      | $17561409.00  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                 | SPXW US 12/30/22 P3650    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       533 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPXW US 01/20/23 P3800    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -264 | NC      | $-1515320.25  | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPXW US 12/30/22 P3850    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       533 | NC      | $559650.00    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPXW US 12/30/22 P4000    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |      1066 | NC      | $17109300.00  | 1.97%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPXW US 12/30/22 P3750    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |     -1066 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Select Sector Spdr  | HEALTH CARE SELECT SECTOR | CUSIP: 81369Y209<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    648451 | NS      | $88092068.35  | 10.14%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                 | SPXW US 01/20/23 C3800    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -264 | NC      | $-2700374.98  | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| Select Sector Spdr  | INDUSTRIAL SELECT SECT SP | CUSIP: 81369Y704<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    492527 | NS      | $48371076.67  | 5.57%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                 | SPXW US 12/30/22 P3900    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |     -2132 | NC      | $-12898600.00 | -1.48%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPXW US 12/30/22 P3800    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |      1066 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                 | SPXW US 01/20/23 C4000    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       264 | NC      | $466234.93    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Ishares Trust       | ISHARES CORE S&P 500 ETF  | CUSIP: 464287200<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    652000 | NS      | $250504920.00 | 28.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr  | MATERIALS SELECT SECTOR S | CUSIP: 81369Y100<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    192303 | NS      | $14938097.04  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr  | COMM SERV SELECT SECTOR S | CUSIP: 81369Y852<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    849350 | NS      | $40760306.50  | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-27

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

**Signature:** Brian Curley

**Name of Signer:** Brian Curley

**Title:** Treasurer