# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0000910472-25-000440
**Filing Date:** 2025-8
**Character Count:** 18775
**Document Hash:** fa3dd723721de44c80d3a5f86f502afe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-000440.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0000910472-25-000440

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN LIGHTS FUND TRUST III
- **CENTRAL INDEX KEY:** 0001537140

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22655
- **FILM NUMBER:** 251274552

**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

### Absolute Capital Asset Allocator Fund (Series ID: S000051215)

| Class ID   | Class Name                                                       | Ticker Symbol   |
|:---|:---|:---|
| C000161384 | Absolute Capital Asset Allocator Fund Class A Shares             | AAMAX           |
| C000161385 | Absolute Capital Asset Allocator Fund Institutional Class Shares | AAMIX           |
| C000161386 | Absolute Capital Asset Allocator Fund Investor Class Shares      | AAMCX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **ABSOLUTE CAPITAL ASSET ALLOCATOR FUND** | **ABSOLUTE CAPITAL ASSET ALLOCATOR FUND** | **ABSOLUTE CAPITAL ASSET ALLOCATOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 23.7%** |  |
|  | **ASSET MANAGEMENT - 0.9%** |  |
| 3300 | Blackstone, Inc. | &nbsp;&nbsp;&nbsp; $493614 |
|  | **BANKING - 1.6%** |  |
| 3000 | JPMorgan Chase & Company | &nbsp;&nbsp;&nbsp; 869730 |
|  | **CHEMICALS - 1.1%** |  |
| 2200 | Ecolab, Inc. | &nbsp;&nbsp;&nbsp; 592768 |
|  | **DIVERSIFIED INDUSTRIALS - 1.0%** |  |
| 2200 | Illinois Tool Works, Inc. | &nbsp;&nbsp;&nbsp; 543950 |
|  | **ENGINEERING & CONSTRUCTION - 1.0%** |  |
| 1500 | Quanta Services, Inc. | &nbsp;&nbsp;&nbsp; 567120 |
|  | **HEALTH CARE FACILITIES & SERVICES - 0.6%** |  |
| 1000 | UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp; 311970 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 3.7%** |  |
| 2900 | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 2052475 |
|  | **INSURANCE - 2.7%** |  |
| 3100 | Berkshire Hathaway, Inc., Class B<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1505887 |
|  | **INTERNET MEDIA & SERVICES - 3.9%** |  |
| 1600 | Netflix, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2142608 |
|  | **RETAIL - CONSUMER STAPLES - 2.7%** |  |
| 1500 | Costco Wholesale Corporation | &nbsp;&nbsp;&nbsp; 1484910 |
|  | **SOFTWARE - 1.2%** |  |
| 1400 | Microsoft Corporation | &nbsp;&nbsp;&nbsp; 696374 |

---

---

| | | |
|:---|:---|:---|
| **ABSOLUTE CAPITAL ASSET ALLOCATOR FUND** | **ABSOLUTE CAPITAL ASSET ALLOCATOR FUND** | **ABSOLUTE CAPITAL ASSET ALLOCATOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 23.7% (Continued)** |  |
|  | **TECHNOLOGY SERVICES - 2.8%** |  |
| 4300 | Visa, Inc., Class A | &nbsp;&nbsp;&nbsp; $1526715 |
|  | **TOBACCO & CANNABIS - 0.5%** |  |
| 4600 | Altria Group, Inc. | &nbsp;&nbsp;&nbsp; 269698 |
|  | **TOTAL COMMON STOCKS (Cost $10,415,030)** | &nbsp;&nbsp; 13057819 |
|  | **EXCHANGE-TRADED FUNDS — 60.4%** |  |
|  | **EQUITY - 58.5%** |  |
| 44100 | Fidelity Momentum Factor ETF | &nbsp;&nbsp;&nbsp; 3345426 |
| 45000 | Franklin International Core Dividend Tilt Index ETF | &nbsp;&nbsp;&nbsp; 1603800 |
| 79000 | iShares Core Dividend ETF | &nbsp;&nbsp;&nbsp; 3975280 |
| 35400 | iShares Morningstar Growth ETF | &nbsp;&nbsp;&nbsp; 3430260 |
| 21500 | iShares MSCI Eurozone ETF | &nbsp;&nbsp;&nbsp; 1278175 |
| 20700 | SPDR S&P 1500 Value Tilt ETF | &nbsp;&nbsp;&nbsp; 3977505 |
| 7600 | SPDR S&P Health Care Services ETF | &nbsp;&nbsp;&nbsp; 756580 |
| 17400 | Technology Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 4406202 |
| 20800 | Vanguard Communication Services ETF | &nbsp;&nbsp;&nbsp; 3557424 |
| 7000 | Vanguard Consumer Staples ETF | &nbsp;&nbsp;&nbsp; 1533000 |
| 2000 | Vanguard Health Care ETF | &nbsp;&nbsp;&nbsp; 496680 |
| 2800 | Vanguard S&P 500 ETF | &nbsp;&nbsp;&nbsp; 1590484 |
| 7400 | Vanguard Total Stock Market ETF | &nbsp;&nbsp;&nbsp; 2249082 |
|  |  | &nbsp;&nbsp; 32199898 |
|  | **FIXED INCOME - 1.9%** |  |
| 20000 | Janus Henderson AAA CLO ETF | &nbsp;&nbsp;&nbsp; 1015000 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $29,318,189)** | &nbsp;&nbsp; 33214898 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ABSOLUTE CAPITAL ASSET ALLOCATOR FUND** | **ABSOLUTE CAPITAL ASSET ALLOCATOR FUND** | **ABSOLUTE CAPITAL ASSET ALLOCATOR FUND** | **ABSOLUTE CAPITAL ASSET ALLOCATOR FUND** | **ABSOLUTE CAPITAL ASSET ALLOCATOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  |  |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENTS — 16.0%** |  |  |  |
|  | **MONEY MARKET FUNDS - 5.2%** |  |  |  |
| 2837944 | First American Government Obligations Fund, Class X, 4.25% <sup>(b)</sup> |  |  | &nbsp;&nbsp;&nbsp; $2837944 |
| **Principal Amount ($)** |  | **Yield (%)** | **Maturity** |  |
|  | **U.S. TREASURY BILLS - 10.8%** |  |  |  |
| 1500000 | United States Treasury Bill | 3.8200 | &nbsp;&nbsp;&nbsp;07/10/25 | &nbsp;&nbsp;&nbsp; 1498431 |
| 4500000 | United States Treasury Bill | 4.2700 | &nbsp;&nbsp;&nbsp;09/04/25 | &nbsp;&nbsp;&nbsp; 4465489 |
|  |  |  |  | &nbsp;&nbsp; 5963920 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $8,801,912)** |  |  | &nbsp;&nbsp; 8801864 |
|  | **TOTAL INVESTMENTS - 100.1% (Cost $48,535,131)** |  |  | &nbsp;&nbsp;&nbsp; $55074581 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%** |  |  | &nbsp;&nbsp; (44873) |
|  | **NET ASSETS - 100.0%** |  |  | &nbsp;&nbsp; $55029708 |

---

---

| | |
|:---|:---|
| ETF | - Exchange-Traded Fund |
| MSCI | - Morgan Stanley Capital International |
| SPDR | - Standard & Poor's Depositary Receipt |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> Rate disclosed is the seven day effective yield as of June 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:** 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:** Absolute Capital Asset Allocator Fund

- **b. EDGAR series identifier (if any):** S000051215

- **c. LEI of Series:** 549300L34GZUOZ57RI73

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $55139080.98

**Total Liabilities:** $109372.91

**Net Assets:** $55029708.07

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161385 | -0.18%               | 4.32%                | 4.05%                |
| Class ID C000161386 | -0.19%               | 4.16%                | 3.99%                |
| Class ID C000161384 | -0.18%               | 4.24%                | 4.16%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-660968.13              | $613920.24                                 |
| Month 2  | $0.00                    | $2158656.99                                |
| Month 3  | $-67106.50               | $2131229.62                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| iShares Trust                | ISHARES CORE DIV         | CUSIP: 46435U861<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     79000 | NS      | $3975280.00   | 7.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust            | SPDR-SP1500 VAL          | CUSIP: 78464A128<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     20700 | NS      | $3977505.00   | 7.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard World Fund          | VANGUARD CN ST E         | CUSIP: 92204A207<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |      7000 | NS      | $1533000.00   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                     | VISA INC-CLASS A         | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      4300 | NS      | $1526715.00   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc.     | ILLINOIS TOOL WO         | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      2200 | NS      | $543950.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.         | JPMORGAN CHASE           | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      3000 | NS      | $869730.00    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services, Inc.        | QUANTA SERVICES          | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |      1500 | NS      | $567120.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard World Fund          | VANGUARD H/C ETF         | CUSIP: 92204A504<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |      2000 | NS      | $496680.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                | ISHARES MORNINGS         | CUSIP: 464287119<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     35400 | NS      | $3430260.00   | 6.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust     | SPDR-TECH SEL S          | CUSIP: 81369Y803<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     17400 | NS      | $4406202.00   | 8.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc               | BLACKSTONE INC           | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |      3300 | NS      | $493614.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Detroit Street Trust   | JAN HEND AAA CLO         | CUSIP: 47103U845<br>LEI: 5493003MM7OCK5UJW595 | Long             | EC               | RF                | US        |     20000 | NS      | $1015000.00   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.    | FRST AM-GV OB-X          | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   2837944 | PA      | $2837943.71   | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc.      | BERKSHIRE HATH-B         | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      3100 | NS      | $1505887.00   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corporation | COSTCO WHOLESALE         | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      1500 | NS      | $1484910.00   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Inc                  | ISHARES MSCI EUR         | CUSIP: 464286608<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     21500 | NS      | $1278175.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.      | UNITEDHEALTH GRP         | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1000 | NS      | $311970.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds         | VANGUARD S&P 500         | CUSIP: 922908363<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      2800 | NS      | $1590484.00   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Covington Trust     | FIDELITY MOMENTUM FACTOR | CUSIP: 316092816<br>LEI: 549300JFYFTF85QAQR28 | Long             | EC               | RF                | US        |     44100 | NS      | $3345426.00   | 6.08%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills | B 07/10/25               | CUSIP: 912797LW5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1500000 | PA      | $1498431.26   | 2.72%             | 2025-07-10      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Franklin Templeton ETF Trust | FRANKLIN INTERNA         | CUSIP: 35473P108<br>LEI: 549300UHXVPT5S43XV04 | Long             | EC               | RF                | US        |     45000 | NS      | $1603800.00   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                | NETFLIX INC              | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      1600 | NS      | $2142608.00   | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds         | VANGUARD TL SK E         | CUSIP: 922908769<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      7400 | NS      | $2249082.00   | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc.                  | ECOLAB INC               | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      2200 | NS      | $592768.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.    | GOLDMAN SACHS GP         | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      2900 | NS      | $2052475.00   | 3.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard World Fund          | VANGUARD COMMUNI         | CUSIP: 92204A884<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |     20800 | NS      | $3557424.00   | 6.46%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills | B 09/04/25               | CUSIP: 912797MH7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4500000 | PA      | $4465489.05   | 8.11%             | 2025-09-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp.              | MICROSOFT CORP           | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      1400 | NS      | $696374.00    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.           | ALTRIA GROUP INC         | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      4600 | NS      | $269698.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust            | SPDR S&P HEALTH CARE SER | CUSIP: 78464A573<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |      7600 | NS      | $756580.00    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

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

**Signature:** Rich Gleason

**Name of Signer:** Rich Gleason

**Title:** Treasurer