# EDGAR Filing Document

**Accession Number:** 0001722388
**File Stem:** 0002000324-25-004521
**Filing Date:** 2025-11
**Character Count:** 8664
**Document Hash:** ac407922f59118e8f1621eb5e69f3b32
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-004521.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0002000324-25-004521

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260630

**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:** 251527385

**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

### 2x Daily Software Platform ETF (Series ID: S000093429)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000261704 | 2x Daily Software Platform ETF | SOFL            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **2x Daily Software Platform ETF** | **2x Daily Software Platform ETF** | **2x Daily Software Platform ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| &nbsp;&nbsp;&nbsp;**SHORT-TERM INVESTMENTS – 5.2%** | | |
| &nbsp;&nbsp;&nbsp;**Money Market Funds – 5.2%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;First American Government Obligations Fund - Class X, 4.05%<sup>(a)</sup> | 58459 | $58459 |
| &nbsp;&nbsp;&nbsp;**U.S. Treasury Bills – 83.3%** | **Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bill, US GOVT, 10/28/2025, 3.96%<sup>(b)</sup> | 945000 | 942136 |
| &nbsp;&nbsp;&nbsp;**TOTAL SHORT-TERM INVESTMENTS (Cost $1,000,503)** |  | 1000595 |
| &nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS – 88.5% (Cost $1,000,503)** |  | $1000595 |
| &nbsp;&nbsp;&nbsp;Liabilities in Excess of Other Assets – 11.5% |  | 130546 |
| &nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  | $1131141 |
| &nbsp;&nbsp;&nbsp;Percentages are stated as a percent of net assets. |  |  |

---

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

(b) The rate shown is the annualized effective yield as of September 30, 2025.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **2x Daily Software Platform ETF** | **2x Daily Software Platform ETF** | **2x Daily Software Platform ETF** | **2x Daily Software Platform ETF** | **2x Daily Software Platform ETF** | **2x Daily Software Platform ETF** | **2x Daily Software Platform ETF** | **2x Daily Software Platform ETF** |
| **Schedule of Total Return Swaps Contracts** | **Schedule of Total Return Swaps Contracts** | **Schedule of Total Return Swaps Contracts** | **Schedule of Total Return Swaps Contracts** | **Schedule of Total Return Swaps Contracts** | **Schedule of Total Return Swaps Contracts** | **Schedule of Total Return Swaps Contracts** | **Schedule of Total Return Swaps Contracts** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **SWAP - TOTAL RETURN – 13.4%** | **SWAP - TOTAL RETURN – 13.4%** | **SWAP - TOTAL RETURN – 13.4%** | **SWAP - TOTAL RETURN – 13.4%** | **SWAP - TOTAL RETURN – 13.4%** | **SWAP - TOTAL RETURN – 13.4%** | **SWAP - TOTAL RETURN – 13.4%** | **SWAP - TOTAL RETURN – 13.4%** |
| **Reference Entity** | **Counterparty** | **Pay/ Receive<br> Reference Entity** | **Financing<br> Rate** | **Payment<br> Frequency** | **Maturity<br> Date** | **Notional<br> Value** | **Value /<br> Unrealized<br> Appreciation<br> (Depreciation)** |
| SOFTT Index | Marex Capital Markets, Inc.. | Receive | OBFR + 2.50% | Monthly | 07/31/26 | $2259037 | $151774 |
| **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** |  |  | $151774 |

---

Percentages are stated as a percent of net assets.

There are no upfront payments or receipts associated with total return swaps in the Fund as of September 30, 2025.

OBFR - Overnight Bank Funding Rate was 4.09% as of September 30, 2025.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** 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:** 2x Daily Software Platform ETF

- **b. EDGAR series identifier (if any):** S000093429

- **c. LEI of Series:** 254900KHIDPG7ESUA540

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **Yes**

### Fund Information

**Total Assets:** $1147724.66

**Total Liabilities:** $16552.47

**Net Assets:** $1131172.19

**Cash Not Reported:** $7606.51

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000261704 | 4.43%                | 0.49%                | 8.83%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $-41.97                  | $153.56                                    |
| Month 3  | $0.00                    | $-61.42                                    |

**Designated Index Information**

- **Index Name:** NYSE FANG+ Total Return Index

- **Index Identifier:** NYFANGT

### 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        |     58459 | NS      | $58458.65     | 5.17%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SOFTT INDEX MAREX INC - L- MAREX           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $138717.84    | 12.26%            |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                | CUSIP: 912797RE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    945000 | PA      | $942136.65    | 83.29%            | 2025-10-28      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-26

**Name of Applicant:** Tidal Trust III

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer