# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0000910472-26-002825
**Filing Date:** 2026-2
**Character Count:** 13092
**Document Hash:** e3eec43c0b39402cf5090a7094a9ba4b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-002825.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000910472-26-002825

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**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:** 26683682

**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

### The Teberg Fund (Series ID: S000043255)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000133836 | The Teberg Fund No-Load Class  | TEBRX           |
| C000248905 | The Teberg Fund Investor Class | ABSTX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **THE TEBERG FUND** | **THE TEBERG FUND** | **THE TEBERG FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 9.0%** |  |
|  | **INSURANCE - 9.0%** |  |
| 10 | Berkshire Hathaway, Inc., Class A (Cost $4,264,302)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $7548000 |
|  | **EXCHANGE-TRADED FUNDS — 84.9%** |  |
|  | **EQUITY - 83.7%** |  |
| 23450 | Invesco QQQ Trust Series 1 ETF | &nbsp;&nbsp;&nbsp; 14405570 |
| 19600 | iShares Core Dividend ETF | &nbsp;&nbsp;&nbsp; 1041740 |
| 18999 | iShares Core S&P Small-Cap ETF | &nbsp;&nbsp;&nbsp; 2283300 |
| 8674 | iShares Russell 2000 ETF | &nbsp;&nbsp;&nbsp; 2135192 |
| 27850 | iShares Semiconductor ETF | &nbsp;&nbsp;&nbsp; 8387028 |
| 5000 | iShares U.S. Aerospace & Defense ETF | &nbsp;&nbsp;&nbsp; 1073450 |
| 9500 | iShares U.S. Home Construction ETF | &nbsp;&nbsp;&nbsp; 914850 |
| 11400 | SPDR Dow Jones Industrial Average ETF | &nbsp;&nbsp;&nbsp; 5478498 |
| 59900 | State Street Financial Select Sector SPDR ETF | &nbsp;&nbsp;&nbsp; 3280723 |
| 5200 | State Street SPDR S&P 1500 Value Tilt ETF | &nbsp;&nbsp;&nbsp; 1095320 |
| 11820 | State Street SPDR S&P 500 ETF | &nbsp;&nbsp;&nbsp; 8060294 |
| 31900 | SPDR S&P Regional Banking ETF | &nbsp;&nbsp;&nbsp; 2067439 |
| 15600 | State Street Technology Select Sector SPDR ETF | &nbsp;&nbsp;&nbsp; 2245932 |
| 46684 | VanEck Semiconductor ETF | &nbsp;&nbsp;&nbsp; 16812308 |
| 3000 | Vanguard Total Stock Market ETF | &nbsp;&nbsp;&nbsp; 1005810 |
|  |  | &nbsp;&nbsp; 70287454 |
|  | **FIXED INCOME - 1.2%** |  |
| 17100 | Vanguard Short-Term Treasury ETF | &nbsp;&nbsp;&nbsp; 1004283 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $32,906,021)** | &nbsp;&nbsp; 71291737 |

---

---

| | | |
|:---|:---|:---|
| **THE TEBERG FUND** | **THE TEBERG FUND** | **THE TEBERG FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED NOTES — 2.3%** |  |
|  | **EQUITY - 2.3%** |  |
| 28100 | MicroSectors FANG+ ETNs (Cost $1,993,534)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $1912205 |
|  | **SHORT-TERM INVESTMENTS — 3.9%** |  |
|  | **MONEY MARKET FUNDS - 3.9%** |  |
| 3318493 | First American Government Obligations Fund, Class X, 3.67% (Cost $3,318,493)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 3318493 |
|  | **TOTAL INVESTMENTS - 100.1% (Cost $42,482,350)** | &nbsp;&nbsp;&nbsp; $84070435 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%** | &nbsp;&nbsp; (107590) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $83962845 |

---

---

| | |
|:---|:---|
| ETF | - Exchange-Traded Fund |
| 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 December 31, 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:** Teberg Fund

- **b. EDGAR series identifier (if any):** S000043255

- **c. LEI of Series:** 549300RVYFVVDBENB284

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $84364533.15

**Total Liabilities:** $401687.80

**Net Assets:** $83962845.35

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000133836 | 4.07%                | -0.66%               | 0.40%                |
| Class ID C000248905 | 4.01%                | -0.70%               | 0.26%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $3090985.34                                |
| Month 2  | $0.00                    | $-350453.29                                |
| Month 3  | $0.00                    | $240313.37                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bank of Montreal                                         | M/SECT FANG+ETN  | CUSIP: 06368B504<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | EC               | RF                | CA        |     28100 | NS      | $1912205.00   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc.                                  | BERKSHIRE HATH-A | CUSIP: 084670108<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |        10 | NS      | $7548000.00   | 8.99%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.                                | FRST AM-GV OB-X  | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   3318493 | PA      | $3318492.76   | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust, Series 1                              | INVESCO QQQ TRUS | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |     23450 | NS      | $14405569.50  | 17.16%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                            | ISHARES SEMICOND | CUSIP: 464287523<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     27850 | NS      | $8387027.50   | 9.99%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                            | ISHARES RUSSELL  | CUSIP: 464287655<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      8674 | NS      | $2135191.84   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                            | ISHARES CORE S&P | CUSIP: 464287804<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     18999 | NS      | $2283299.82   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                            | ISHARES U.S. HOM | CUSIP: 464288752<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      9500 | NS      | $914850.00    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                            | ISHARES U.S. AER | CUSIP: 464288760<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      5000 | NS      | $1073450.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                            | ISHARES CORE DIV | CUSIP: 46435U861<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     19600 | NS      | $1041740.00   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Spdr S and P 500 Etf Trust                  | SPDR S&P 500 ETF | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |     11820 | NS      | $8060294.40   | 9.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SS SPDR S&P15 VT | CUSIP: 78464A128<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |      5200 | NS      | $1095320.20   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                        | SS SPDR S&P REGB | CUSIP: 78464A698<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     31900 | NS      | $2067439.00   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Spdr Dow Jones Industrial Average Etf Trust | SPDR DJIA TRUST  | CUSIP: 78467X109<br>LEI: 54930039F2SG3UG2OZ18 | Long             | EC               | RF                | US        |     11400 | NS      | $5478498.00   | 6.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                 | SS FINANCIAL SEL | CUSIP: 81369Y605<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     59900 | NS      | $3280723.00   | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                                 | SS TECH SEL SECT | CUSIP: 81369Y803<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     15600 | NS      | $2245932.00   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                                         | V/E SEMICONDUCT  | CUSIP: 92189F676<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |     46684 | NS      | $16812308.92  | 20.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Scottsdale Funds                                | VANGUARD SHORT-T | CUSIP: 92206C102<br>LEI: 549300Y88GQ3VLJIBX57 | Long             | EC               | RF                | US        |     17100 | NS      | $1004283.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                                     | VANGUARD TL SK E | CUSIP: 922908769<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      3000 | NS      | $1005810.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Rich Gleason

**Name of Signer:** Rich Gleason

**Title:** Treasurer