# EDGAR Filing Document

**Accession Number:** 0001722388
**File Stem:** 0002000324-25-004118
**Filing Date:** 2025-10
**Character Count:** 20548
**Document Hash:** ce3947ca2e588b74feb14583edc527a1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-004118.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0002000324-25-004118

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**PERIOD START**: 20251130

**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:** 251434775

**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

### NestYield Dynamic Income ETF (Series ID: S000089468)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000256027 | NestYield Dynamic Income ETF | EGGY            |

## Nport-Ex

---

| |
|:---|
| **NestYield Dynamic Income ETF** |
| **Schedule of Investments** |
| **August 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCKS - 95.6%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Discretionary Products - 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tesla, Inc.<sup>(a)</sup> | 2701 | $901783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial Services - 10.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Block, Inc. - Class A<sup>(a)</sup> | 19935 | 1587623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coinbase Global, Inc. - Class A<sup>(a)</sup> | 9306 | 2834049 |
|  |  | 4421672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health Care - 4.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly & Co. | 2758 | 2020456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Media - 23.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A | 9493 | 2021155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AppLovin Corp. - Class A<sup>(a)</sup> | 6177 | 2956250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc. - Class A | 2740 | 2024038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netflix, Inc.<sup>(a)</sup> | 2435 | 2942089 |
|  |  | 9943532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Retail & Wholesale - Discretionary - 4.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc.<sup>(a)</sup> | 8750 | 2003750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Software & Tech Services - 20.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corp. | 3936 | 1994332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle Corp. | 9163 | 2072029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palantir Technologies, Inc. - Class A<sup>(a)</sup> | 17227 | 2699643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strategy, Inc. - Class A<sup>(a)</sup> | 5872 | 1963656 |
|  |  | 8729660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tech Hardware & Semiconductors - 22.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | 3721 | 863793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | 10845 | 3225195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | 17953 | 3127053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Super Micro Computer, Inc.<sup>(a)</sup> | 48501 | 2014731 |
|  |  | 9230772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Utilities - 7.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistra Corp. | 15639 | 2957491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL COMMON STOCKS (Cost $36,031,441)** |  | 40209116 |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**PURCHASED OPTIONS - 1.3%<sup>(b)(c)(d)</sup>** | **Notional Amount** | **Contracts** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Block, Inc., Expiration: 9/5/2025; Exercise Price: $174.00 | $1584836 | 199 | $1492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc., Expiration: 11/21/2025; Exercise Price: $930.00 | 1338255 | 45 | 88312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc., Expiration: 11/21/2025; Exercise Price: $900.00 | 1427472 | 48 | 115920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coinbase Global, Inc., Expiration: 9/5/2025; Exercise Price: $670.00 | 2832222 | 93 | 6743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco QQQ Trust, Expiration: 10/31/2025; Exercise Price: $1,100.00 | 5704000 | 100 | 94900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp., Expiration: 11/21/2025; Exercise Price: $555.00 | 4075812 | 234 | 217035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palantir Technologies, Inc., Expiration: 9/5/2025; Exercise Price: $170.00 | 2695412 | 172 | 7310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Super Micro Computer, Inc., Expiration: 9/5/2025; Exercise Price: $92.00 | 2014690 | 485 | 5335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tesla, Inc., Expiration: 9/5/2025; Exercise Price: $1,110.00 | 901449 | 27 | 797 |
|  |  |  | 537844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL PURCHASED OPTIONS (Cost $708,654)** |  |  | 537844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHORT-TERM INVESTMENTS - 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Money Market Funds - 1.0%** |  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund - Class X, 4.22%<sup>(e)</sup> |  | 399737 | 399737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SHORT-TERM INVESTMENTS (Cost $399,737)** |  |  | 399737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 97.9% (Cost $37,139,832)** |  |  | $41146697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Assets in Excess of Liabilities - 2.1% |  |  | 889012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  |  | $42035709 |

---

Percentages are stated as a percent of net assets.

(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 August 31, 2025.

---

| |
|:---|
| **NestYield Dynamic Income ETF** |
| **Schedule of Written Options Contracts** |
| **August 31, 2025 (Unaudited)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **WRITTEN OPTIONS - (0.2)%<sup>(a)(b)</sup>** | **Notional <br> Amount** | **Contracts** | **Value** |
| Block, Inc., Expiration: 9/5/2025; Exercise Price: $166.00 | $(1584836) | (199) | $(8159) |
| Coinbase Global, Inc., Expiration: 9/5/2025; Exercise Price: $630.00 | (2832222) | (93) | (33713) |
| Palantir Technologies, Inc., Expiration: 9/5/2025; Exercise Price: $160.00 | (2695412) | (172) | (38872) |
| Super Micro Computer, Inc., Expiration: 9/5/2025; Exercise Price: $87.00 | (2014690) | (485) | (19158) |
| Tesla, Inc., Expiration: 9/5/2025; Exercise Price: $1,057.50 | (901449) | (27) | (3847) |
|  |  |  | (103749) |
| **TOTAL WRITTEN OPTIONS (Premiums received $120,873)** |  |  | (103749) |

---

Percentages are stated as a percent of net assets.

(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:** Nestyield Dynamic Income ETF

- **b. EDGAR series identifier (if any):** S000089468

- **c. LEI of Series:** 254900JD0NQKSCP4Y719

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-08-31

**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:** $42975705.40

**Total Liabilities:** $939856.48

**Net Assets:** $42035848.92

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256027 | 9.01%                | 3.46%                | 3.83%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $30236.64                | $2550336.19                                |
| Month 2  | $-14394.43               | $1580547.46                                |
| Month 3  | $240223.44               | $-1873095.75                               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alphabet Inc                   | Alphabet Inc                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     10246 | NS      | $2181475.86   | 5.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      9184 | NS      | $2103136.00   | 5.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      3816 | NS      | $885846.24    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                  | AppLovin Corp                              | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      4986 | NS      | $2386249.74   | 5.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                      | Block Inc                                  | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |     20238 | NS      | $1611754.32   | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     10625 | NS      | $3159768.75   | 7.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc            | Coinbase Global Inc                        | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      9698 | NS      | $2953428.92   | 7.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      3090 | NS      | $2263672.20   | 5.39%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   1306296 | NS      | $1306295.64   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      2759 | NS      | $2038073.30   | 4.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      4024 | NS      | $2038920.56   | 4.85%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | AVGO US 11/21/25 C300                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        48 | NC      | $115920.00    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AVGO US 11/21/25 C310                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        45 | NC      | $88312.50     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Block Inc                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -202 | NC      | $-101.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | COIN US 08/29/25 C332.5                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        96 | NC      | $48.00        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Coinbase Global Inc                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -96 | NC      | $-48.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NVDA US 11/21/25 C185                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       234 | NC      | $217035.00    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Palantir Technologies Inc                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -174 | NC      | $-87.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Palantir Technologies Inc                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       174 | NC      | $87.00        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | QQQ US 10/31/25 P550                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       100 | NC      | $94900.00     | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SMCI US 08/29/25 C49.5                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       687 | NC      | $343.50       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Super Micro Computer Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -687 | NC      | $-343.50      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | TSLA US 09/05/25 C352.5                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -26 | NC      | $-3705.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | TSLA US 09/05/25 C370                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        26 | NC      | $767.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | XYZ US 08/29/25 C86                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       202 | NC      | $101.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Netflix Inc                    | Netflix Inc                                | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      2485 | NS      | $3002501.25   | 7.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     17782 | NS      | $3097268.76   | 7.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                    | Oracle Corp                                | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      8761 | NS      | $1981124.93   | 4.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc      | Palantir Technologies Inc                  | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     17469 | NS      | $2737566.99   | 6.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategy Inc                   | Strategy Inc                               | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      5986 | NS      | $2001778.26   | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc       | Super Micro Computer Inc                   | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     68709 | NS      | $2854171.86   | 6.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla Inc                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      2667 | NS      | $890431.29    | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                    | Vistra Corp                                | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     15592 | NS      | $2948603.12   | 7.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Tidal Trust III

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer