# EDGAR Filing Document

**Accession Number:** 0001722388
**File Stem:** 0002000324-25-003729
**Filing Date:** 2025-9
**Character Count:** 8592
**Document Hash:** 0e4ccb08b888081accb7246c911c91dc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-003729.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0002000324-25-003729

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**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:** 251350480

**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 Animal Spirits Daily 2X Strategy ETF (Series ID: S000092977)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000261031 | VistaShares Animal Spirits Daily 2X Strategy ETF | WILD            |

## Nport-Ex

---

| |
|:---|
| **VistaShares Animal Spirits Daily 2x Strategy ETF** |
| **Schedule of Investments** |
| **July 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**MONEY MARKET FUND - 0.2%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Money Market Funds - 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund - Class X, 4.214%<sup>(a)</sup> | 2460 | $2460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL MONEY MARKET FUND (Cost $2,460)** |  | 2460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 0.2% (Cost $2,460)** |  | $2460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Assets in Excess of Liabilities - 99.8% |  | 1226774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  | $1229234 |
| &nbsp;&nbsp;&nbsp;&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 July 31, 2025.

---

| |
|:---|
| **VistaShares Animal Spirits Daily 2x Strategy ETF** |
| **Schedule of Total Return Swaps Contracts** |
| **July 31, 2025 (Unaudited)** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **SWAP - TOTAL RETURN – 7.2%** | **SWAP - TOTAL RETURN – 7.2%** | **SWAP - TOTAL RETURN – 7.2%** | **SWAP - TOTAL RETURN – 7.2%** | | | | |
| **Reference Entity** | **Counterparty** | **Pay/ Receive <br> Reference Entity** | **Financing Rate** | **Payment <br> Frequency** | **Maturity Date** | **Notional Value** | **Value / Unrealized Appreciation (Depreciation)** |
| Alphabet, Inc. | MAREX CAPITAL MARKETS INC. | Receive | OBFR + 2.50% | Monthly | 07/31/26 | $495486 | $36499 |
| Apple, Inc. | MAREX CAPITAL MARKETS INC. | Receive | OBFR + 2.50% | Monthly | 07/31/26 | 492563 | 2973 |
| Hims & Hers Health, Inc. | MAREX CAPITAL MARKETS INC. | Receive | OBFR + 4.00% | Monthly | 08/27/26 | 491188 | 63224 |
| Palantir Technologies, Inc. | MAREX CAPITAL MARKETS INC. | Receive | OBFR + 4.00% | Monthly | 08/27/26 | 495477 | (1337) |
| Tesla, Inc. | MAREX CAPITAL MARKETS INC. | Receive | OBFR + 4.00% | Monthly | 08/27/26 | 491999 | (12721) |
|  |  |  |  |  |  |  | 88638 |
| **Net Unrealized Appreciation (Depreciation)** |  |  |  |  |  |  | 88638 |

---

There are no upfront payments or receipts associated with total return swaps in the Fund as of July 31, 2025.

OBFR – Overnight Bank Funding Rate was 4.33% as of July 31, 2025.

Percentages are stated as a percent of net assets.

## 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 Animal Spirits Daily 2x Strategy ETF

- **b. EDGAR series identifier (if any):** S000092977

- **c. LEI of Series:** 254900O1PV0YZTU32L32

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $1245470.69

**Total Liabilities:** $16177.94

**Net Assets:** $1229292.75

**Cash Not Reported:** $1149924.85

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000261031 |  | 0.00%                | 14.05%               |

**Monthly Gains & Losses**

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

**Designated Index Information**

- **Index Name:** BITA Tactical Exposure US Innovation Leaders Index

- **Index Identifier:** BTEUIL

### 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        |      2460 | NS      | $2460.08      | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | ALPHABET INC - L- MAREX                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $33772.57     | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | APPLE  SWAP - L  - MAREX                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $295.43       | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | APPLE  SWAP - L  - MAREX                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $-13165.88    | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | HIMS & HERS HEALTH - L- MAREX              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $64903.43     | 5.28%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | PALANTIR TECHNOLOGIES - L  - MAREX         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $-1795.17     | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-26

**Name of Applicant:** Tidal Trust III

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer