# EDGAR Filing Document

**Accession Number:** 0001722388
**File Stem:** 0002000324-25-002520
**Filing Date:** 2025-7
**Character Count:** 33747
**Document Hash:** 0f9c2195df23d26510d3d29f517473f7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-002520.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0002000324-25-002520

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**PERIOD START**: 20260228

**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:** 251165318

**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 Berkshire Select Income ETF (Series ID: S000090687)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000257971 | VistaShares Target 15 Berkshire Select Income ETF | OMAH            |

## Nport-Ex

**VistaShares Target 15 Berkshire Select Income ETF**

**Schedule of Investments**

**May 31, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCKS - 100.1%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Banking - 5.4%** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp. | 272351 | $12018849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Discretionary Services - 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domino's Pizza, Inc. | 8924 | 4228370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Staple Products - 13.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coca-Cola Co. | 194722 | 14039456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Brands, Inc. - Class A | 39633 | 7066168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kraft Heinz Co. | 373837 | 9992663 |
|  |  | 31098287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial Services - 22.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Express Co. | 65126 | 19150300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 22451 | 4246607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc. - Class A | 12881 | 7543114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moody's Corp. | 21201 | 10162063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc. - Class A | 27020 | 9867434 |
|  |  | 50969518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health Care - 4.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DaVita, Inc.<sup>(a)</sup> | 71291 | 9714112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Insurance - 17.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon PLC - Class A | 13791 | 5131355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B<sup>(a)</sup> | 44770 | 22562289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chubb Ltd. | 35259 | 10478975 |
|  |  | 38172619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Media - 8.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sirius XM Holdings, Inc. | 388237 | 8416978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VeriSign, Inc. | 36612 | 9975672 |
|  |  | 18392650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Oil & Gas - 8.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corp. | 72942 | 9971171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | 240741 | 9817418 |
|  |  | 19788589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Retail & Wholesale - Discretionary - 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc.<sup>(a)</sup> | 30888 | 6332349 |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Retail & Wholesale - Staples - 4.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kroger Co. |  | 150536 | 10271071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tech Hardware & Semiconductors - 10.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. |  | 116178 | 23334351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL COMMON STOCKS (Cost $222,130,433)** |  |  | 224320765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**PURCHASED OPTIONS - 0.0%<sup>(b)(c)(d)(f)</sup>** | **Notional<br> Amount** | **Contracts** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Call Options - 0.0%<sup>(f)</sup>** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Express Co., Expiration: 6/20/2025; Exercise Price: $310.00 | $18289910 | 622 | 98276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sirius XM Holdings, Inc., Expiration: 6/20/2025; Exercise Price: $24.00 | 5387480 | 2485 | 29820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VeriSign, Inc., Expiration: 6/20/2025; Exercise Price: $310.00 | 9454709 | 347 | 6940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VeriSign, Inc., Expiration: 6/20/2025; Exercise Price: $280.00 | 899151 | 33 | 9405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL PURCHASED OPTIONS (Cost $342,178)** |  |  | 144441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHORT-TERM INVESTMENTS - 0.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Money Market Funds - 0.8%** |  | **Shares** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund - Class X, 4.22%<sup>(e)</sup> |  | 1763660 | 1763660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SHORT-TERM INVESTMENTS (Cost $1,763,660)** |  |  | 1763660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 100.9% (Cost $224,236,271)** |  |  | $226228866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities in Excess of Other Assets - (0.9)% |  |  | (2106445) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  |  | $224122421 |

---

Percentages are stated as a percent of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

(b) Exchange-traded.

(c) 100 shares per contract.

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

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

(f) Does not round to 0.0% or (0.0)%, as applicable.

**VistaShares Target 15 Berkshire Select Income ETF**

**Schedule of Written Options Contracts**

**May 31, 2025 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**WRITTEN OPTIONS - (1.1)%<sup>(a)(b)</sup>** | **Notional Amount** | **Contracts** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Call Options - (1.1)%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc., Expiration: 6/20/2025; Exercise Price: $215.00 | $(6314308) | (308) | $(56672) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Express Co., Expiration: 6/20/2025; Exercise Price: $300.00 | (10850445) | (369) | (178042) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Express Co., Expiration: 6/20/2025; Exercise Price: $290.00 | (8292210) | (282) | (278475) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon PLC, Expiration: 6/20/2025; Exercise Price: $370.00 | (558120) | (15) | (13200) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon PLC, Expiration: 6/20/2025; Exercise Price: $360.00 | (4539376) | (122) | (192150) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc, Expiration: 6/20/2025; Exercise Price: $220.00 | (2751645) | (137) | (9727) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc., Expiration: 6/20/2025; Exercise Price: $210.00 | (20567040) | (1024) | (239616) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp., Expiration: 6/20/2025; Exercise Price: $47.00 | (511908) | (116) | (1218) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp., Expiration: 6/20/2025; Exercise Price: $45.00 | (11504691) | (2607) | (132957) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Expiration: 6/20/2025; Exercise Price: $525.00 | (14010088) | (278) | (35167) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Expiration: 6/20/2025; Exercise Price: $520.00 | (8516924) | (169) | (34223) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital One Financial Corp., Expiration: 6/20/2025; Exercise Price: $210.00 | (2326545) | (123) | (6150) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital One Financial Corp., Expiration: 6/20/2025; Exercise Price: $200.00 | (1910415) | (101) | (17675) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corp., Expiration: 6/20/2025; Exercise Price: $150.00 | (6821330) | (499) | (8732) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corp., Expiration: 6/20/2025; Exercise Price: $143.00 | (3144100) | (230) | (23115) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chubb Ltd., Expiration: 6/20/2025; Exercise Price: $305.00 | (1426560) | (48) | (8760) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chubb Ltd., Expiration: 6/20/2025; Exercise Price: $295.00 | (2288440) | (77) | (47355) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chubb Ltd., Expiration: 6/20/2025; Exercise Price: $290.00 | (6746440) | (227) | (204300) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coca-Cola Co., Expiration: 6/20/2025; Exercise Price: $75.00 | (3323810) | (461) | (7146) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coca-Cola Co., Expiration: 6/20/2025; Exercise Price: $72.50 | (10714060) | (1486) | (116651) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Brands, Inc., Expiration: 6/20/2025; Exercise Price: $187.50 | (7060284) | (396) | (50490) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DaVita, Inc., Expiration: 6/20/2025; Exercise Price: $150.00 | (912942) | (67) | (2177) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DaVita, Inc., Expiration: 6/20/2025; Exercise Price: $145.00 | (8788770) | (645) | (61275) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domino's Pizza, Inc., Expiration: 6/20/2025; Exercise Price: $490.00 | (4216998) | (89) | (40050) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kraft Heinz Co., Expiration: 6/20/2025; Exercise Price: $28.50 | (585387) | (219) | (2080) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kraft Heinz Co., Expiration: 6/20/2025; Exercise Price: $28.00 | (4947723) | (1851) | (30541) |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kraft Heinz Co., Expiration: 6/20/2025; Exercise Price: $27.50 | (4458564) | (1668) | (47538) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kroger Co., Expiration: 6/20/2025; Exercise Price: $72.50 | (10268615) | (1505) | (92558) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Expiration: 6/20/2025; Exercise Price: $590.00 | (5738880) | (98) | (74235) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc., Expiration: 6/20/2025; Exercise Price: $585.00 | (1756800) | (30) | (30750) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moody's Corp., Expiration: 6/20/2025; Exercise Price: $500.00 | (10161584) | (212) | (70490) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum Corp., Expiration: 6/20/2025; Exercise Price: $47.50 | (4759026) | (1167) | (7586) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum Corp., Expiration: 6/20/2025; Exercise Price: $45.00 | (5056720) | (1240) | (20460) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sirius XM Holdings, Inc., Expiration: 6/20/2025; Exercise Price: $24.50 | (1185896) | (547) | (4650) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sirius XM Holdings, Inc., Expiration: 6/20/2025; Exercise Price: $23.00 | (7230280) | (3335) | (101718) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VeriSign, Inc., Expiration: 6/20/2025; Exercise Price: $290.00 | (9073251) | (333) | (33300) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VeriSign, Inc., Expiration: 6/20/2025; Exercise Price: $270.00 | (899151) | (33) | (25905) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc., Expiration: 6/20/2025; Exercise Price: $365.00 | (9860130) | (270) | (172125) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL WRITTEN OPTIONS (Premiums received $3,652,724)** |  |  | $(2479259) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(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 Berkshire Select Income ETF

- **b. EDGAR series identifier (if any):** S000090687

- **c. LEI of Series:** 2549008FILVA5TLCC693

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-05-31

**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:** $225294858.47

**Total Liabilities:** $2601752.57

**Net Assets:** $222693105.90

**Cash Not Reported:** $974170.77

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000257971 | -0.27%               | -2.14%               | 1.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $94431.61                                  |
| Month 2  | $0.00                    | $1030491.01                                |
| Month 3  | $188318.54               | $1065409.50                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Amazon.com Inc             | Amazon.com Inc             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     30693 | NS      | $6292371.93   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co        | American Express Co        | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     64712 | NS      | $19028563.60  | 8.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                    | Aon PLC                    | CUSIP: N/A<br>LEI: 635400FALWQYX5E6QC64       | Long             | EC               | CORP              | GB        |     13704 | NS      | $5098984.32   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                  | Apple Inc                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    115437 | NS      | $23185521.45  | 10.41%            |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp       | Bank of America Corp       | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    270614 | NS      | $11942195.82  | 5.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc     | Berkshire Hathaway Inc     | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     44485 | NS      | $22418660.60  | 10.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp | Capital One Financial Corp | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     22310 | NS      | $4219936.50   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp               | Chevron Corp               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72477 | NS      | $9907605.90   | 4.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                  | Chubb Ltd                  | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |     35034 | NS      | $10412104.80  | 4.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The           | Coca-Cola Co/The           | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    193480 | NS      | $13949908.00  | 6.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc   | Constellation Brands Inc   | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |     39381 | NS      | $7021238.49   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DaVita Inc                 | DaVita Inc                 | CUSIP: 23918K108<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | EC               | CORP              | US        |     70838 | NS      | $9652385.88   | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Domino's Pizza Inc         | Domino's Pizza Inc         | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |      8870 | NS      | $4202783.40   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The         | Kraft Heinz Co/The         | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |    371452 | NS      | $9928911.96   | 4.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The              | Kroger Co/The              | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |    149576 | NS      | $10205570.48  | 4.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc             | Mastercard Inc             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     12800 | NS      | $7495680.00   | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp               | Moody's Corp               | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     21066 | NS      | $10097355.12  | 4.53%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                        | AAPL US 06/20/25 C220      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -137 | NC      | $-9727.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | Amazon.com Inc             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -306 | NC      | $-56304.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | American Express Co        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -282 | NC      | $-278475.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | American Express Co        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       618 | NC      | $97644.00     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | AON US 06/20/25 C360       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -122 | NC      | $-192150.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | AON US 06/20/25 C370       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -15 | NC      | $-13200.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | Apple Inc                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1017 | NC      | $-237978.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | AXP US 06/20/25 C300       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -365 | NC      | $-176112.50   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | BAC US 06/20/25 C47        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -99 | NC      | $-1039.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | Bank of America Corp       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -2607 | NC      | $-132957.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | BRKB US 06/20/25 C520      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -166 | NC      | $-33615.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | BRKB US 06/20/25 C525      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -278 | NC      | $-35167.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | CB US 06/20/25 C290        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -227 | NC      | $-204300.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | CB US 06/20/25 C295        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -77 | NC      | $-47355.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | CB US 06/20/25 C305        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -46 | NC      | $-8395.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | Chevron Corp               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -499 | NC      | $-8732.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | Coca-Cola Co/The           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -448 | NC      | $-6944.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | COF US 06/20/25 C200       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -100 | NC      | $-17500.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | COF US 06/20/25 C210       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -123 | NC      | $-6150.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | CVX US 06/20/25 C143       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -225 | NC      | $-22612.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | DPZ US 06/20/25 C490       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -88 | NC      | $-39600.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | DVA US 06/20/25 C145       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -641 | NC      | $-60895.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | DVA US 06/20/25 C150       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -67 | NC      | $-2177.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | KHC US 06/20/25 C27.5      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1644 | NC      | $-46854.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | KHC US 06/20/25 C28        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1851 | NC      | $-30541.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | KHC US 06/20/25 C28.5      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -219 | NC      | $-2080.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | KO US 06/20/25 C72.5       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1486 | NC      | $-116651.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | KR US 06/20/25 C72.5       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1495 | NC      | $-91942.50    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | Mastercard Inc             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -30 | NC      | $-30750.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | Mastercard Inc             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -98 | NC      | $-74235.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | MCO US 06/20/25 C500       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -210 | NC      | $-69825.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | OXY US 06/20/25 C45        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1225 | NC      | $-20212.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | OXY US 06/20/25 C47.5      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1167 | NC      | $-7585.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | SIRI US 06/20/25 C23       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -3310 | NC      | $-100955.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | SIRI US 06/20/25 C24       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      2485 | NC      | $29820.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | SIRI US 06/20/25 C24.5     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -547 | NC      | $-4649.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | STZ US 06/20/25 C187.5     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -393 | NC      | $-50107.50    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | V US 06/20/25 C365         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -268 | NC      | $-170850.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | VRSN US 06/20/25 C270      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -30 | NC      | $-23550.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | VRSN US 06/20/25 C280      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        30 | NC      | $8550.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | VRSN US 06/20/25 C290      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -333 | NC      | $-33300.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                        | VRSN US 06/20/25 C310      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       347 | NC      | $6940.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp  | Occidental Petroleum Corp  | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |    239205 | NS      | $9754779.90   | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Sirius XM Holdings Inc     | Sirius XM Holdings Inc     | CUSIP: 829933100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    385759 | NS      | $8363255.12   | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| VeriSign Inc               | VeriSign Inc               | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |     36381 | NS      | $9912731.07   | 4.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                   | Visa Inc                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     26849 | NS      | $9804986.31   | 4.40%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** Tidal Trust III

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer