# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0000910472-25-003014
**Filing Date:** 2025-11
**Character Count:** 36950
**Document Hash:** 225091786b2ece2f2cd8ff22cdec7069
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-003014.hdr.sgml**: 20251110

**ACCESSION NUMBER**: 0000910472-25-003014

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251110

**DATE AS OF CHANGE**: 20251110

**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:** 251464724

**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 Covered Bridge Fund (Series ID: S000041869)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000129981 | The Covered Bridge Fund Class A Shares | TCBAX           |
| C000129983 | The Covered Bridge Fund Class I Shares | TCBIX           |

## 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:** The Covered Bridge Fund

- **b. EDGAR series identifier (if any):** S000041869

- **c. LEI of Series:** 549300JJPYRG5UTEFL50

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

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

- **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? **No**

### Fund Information

**Total Assets:** $110219619.94

**Total Liabilities:** $1593811.24

**Net Assets:** $108625808.70

**Cash Not Reported:** $3134752.63

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000129981 | 0.11%                | 3.71%                | 0.47%                |
| Class ID C000129983 | 0.11%                | 3.74%                | 0.54%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $896873.68               | $-1575913.86                               |
| Month 2  | $-1705447.41             | $5230150.88                                |
| Month 3  | $-3072010.41             | $3400720.06                                |

**Designated Index Information**

- **Index Name:** The Covered Bridge Fund DRP

- **Index Identifier:** THE COVERED BRIDGE FUND DRP

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A                                   | SRE US 11/21/25 C85    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -150 | NC      | $-96150.00    | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | HON US 11/21/25 C210   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -25 | NC      | $-20250.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | CF US 10/17/25 C86     | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -50 | NC      | $-24750.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Sysco Corporation                     | SYSCO CORP             | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |     14000 | NS      | $1152760.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Trust Ii                    | JPM-US TR PL-L         | CUSIP: 4812C2734<br>LEI: 549300IMXLYKELY96B40 | Long             | STIV             | RF                | US        |  10166472 | PA      | $10166472.47  | 9.36%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | KSS US 11/21/25 C19    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -230 | NC      | $-16100.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | LEN US 10/17/25 C124   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -50 | NC      | $-23000.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | GILD US 11/21/25 C115  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -50 | NC      | $-21000.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Visa Inc                              | VISA INC-CLASS A       | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      1600 | NS      | $546208.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co (The)                    | COCA-COLA CO/THE       | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     17000 | NS      | $1127440.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                              | AT&T INC               | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     60000 | NS      | $1694400.00   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Co.              | PROCTER & GAMBLE       | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     15000 | NS      | $2304750.00   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | AVGO US 11/21/25 C330  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -17 | NC      | $-37128.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| First American Funds Inc.             | FIRST AM-TR OB-X       | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    118147 | PA      | $118147.22    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | QCOM US 11/21/25 C170  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -100 | NC      | $-77000.00    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | SYY US 11/21/25 C82.5  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -70 | NC      | $-17850.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | V US 11/21/25 C340     | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |        -8 | NC      | $-10512.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | LLY US 11/21/25 C730   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |        -5 | NC      | $-32275.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.        | HEWLETT PACKA          | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |     80000 | NS      | $1964800.00   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | AAPL US 10/17/25 C250  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -45 | NC      | $-35730.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp.                 | BANK OF AMERICA        | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     22000 | NS      | $1134980.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | MSFT US 11/21/25 C510  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -20 | NC      | $-51400.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | DIS US 10/17/25 C112   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -75 | NC      | $-26775.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                | TRUIST FINANCIAL       | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |     40500 | NS      | $1851660.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Hasbro Inc                            | HASBRO INC             | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |      5000 | NS      | $379250.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                         | QUALCOMM INC           | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     20000 | NS      | $3327200.00   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp. | IBM                    | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      5000 | NS      | $1410800.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Sycamore                              | SYCAMORE -RIGHT        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |    120000 | NS      | $63600.00     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | LLY US 11/21/25 C750   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -10 | NC      | $-52550.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Nike, Inc.                            | NIKE INC -CL B         | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     32000 | NS      | $2231360.00   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                       | SALESFORCE INC         | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      6000 | NS      | $1422000.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Companies, Inc.             | TRAVELERS COS IN       | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      4000 | NS      | $1116880.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | WFC US 11/21/25 C85    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -50 | NC      | $-15550.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.           | UNITED PARCEL-B        | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     28000 | NS      | $2338840.00   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                | SEMPRA                 | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     30000 | NS      | $2699400.00   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | KO US 11/21/25 C67.5   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -85 | NC      | $-12665.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | MCHP US 11/21/25 C67.5 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -100 | NC      | $-29500.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Lennar Corp.                          | LENNAR CORP-A          | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |     10000 | NS      | $1260400.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                       | ELI LILLY & CO         | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      3000 | NS      | $2289000.00   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                     | JOHNSON&JOHNSON        | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     13000 | NS      | $2410460.00   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | T US 11/21/25 C29      | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -300 | NC      | $-19800.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | D US 10/17/25 C60      | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -50 | NC      | $-8750.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Kohl's Corp.                          | KOHLS CORP             | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               | CORP              | US        |     46000 | NS      | $707020.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | TRV US 11/21/25 C280   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -20 | NC      | $-20300.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| U.S. Bancorp.                         | US BANCORP             | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     40000 | NS      | $1933200.00   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.               | UNITEDHEALTH GRP       | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      3000 | NS      | $1035900.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | UPS US 10/17/25 C84    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -50 | NC      | $-8850.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | BAC US 10/17/25 C52    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -110 | NC      | $-13530.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Verizon Communications Inc.           | VERIZON COMMUNIC       | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     61000 | NS      | $2680950.00   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | HD US 11/21/25 C415    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -25 | NC      | $-26250.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                   | DOMINION ENERGY        | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     26100 | NS      | $1596537.00   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| The Chemours Company LLC              | CHEMOURS CO            | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |     65000 | NS      | $1029600.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Company                   | WALT DISNEY CO/T       | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     15000 | NS      | $1717500.00   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Avery Dennison Corporation            | AVERY DENNISON         | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |     13000 | NS      | $2108210.00   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Company                  | WEYERHAEUSER CO        | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |     45000 | NS      | $1115550.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | NKE US 11/21/25 C75    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -142 | NC      | $-36920.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | MDT US 11/21/25 C97.5  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -100 | NC      | $-21900.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Expand Energy Corp.                   | EXPAND ENERGY CO       | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     20000 | NS      | $2124800.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | IBM US 11/21/25 C270   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -25 | NC      | $-56750.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | PG US 11/21/25 C155    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -40 | NC      | $-16440.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                     | WELLS FARGO & CO       | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     10000 | NS      | $838200.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | CSCO US 10/17/25 C67.5 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -80 | NC      | $-13600.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                     | EXXON MOBIL CORP       | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     22000 | NS      | $2480500.00   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                          | ORACLE CORP            | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      1500 | NS      | $421860.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corporation                     | INTEL CORP             | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     70000 | NS      | $2348500.00   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                      | MCDONALDS CORP         | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      7000 | NS      | $2127230.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                       | HOME DEPOT INC         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      5000 | NS      | $2025950.00   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | CC US 11/21/25 C18     | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -150 | NC      | $-9750.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                    | ALTRIA GROUP INC       | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     15000 | NS      | $990900.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | JNJ US 11/21/25 C175   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -65 | NC      | $-88075.00    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Broadcom Inc                          | BROADCOM INC           | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      3400 | NS      | $1121694.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | MO US 11/21/25 C65     | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -75 | NC      | $-22875.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Honeywell International Inc.          | HONEYWELL INTL         | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      7500 | NS      | $1578750.00   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings, Inc.          | CF INDUSTRIES HO       | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |      7000 | NS      | $627900.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | MCD US 11/21/25 C305   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -35 | NC      | $-33040.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Chevron Corp.                         | CHEVRON CORP           | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16500 | NS      | $2562285.00   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | EXE US 11/21/25 C95    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -100 | NC      | $-133000.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| Schlumberger Limited                  | SCHLUMBERGER LTD       | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     45000 | NS      | $1546650.00   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                      | DUKE ENERGY CORP       | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     19000 | NS      | $2351250.00   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corporation            | DOLLAR GENERAL C       | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |     12000 | NS      | $1240200.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | CRM US 10/17/25 C250   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -30 | NC      | $-8370.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EOG Resources Inc.                    | EOG RESOURCES          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     16000 | NS      | $1793920.00   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                           | NUTRIEN LTD            | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     40000 | NS      | $2348400.00   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | EOG US 11/21/25 C120   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -60 | NC      | $-10500.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | CVX US 10/17/25 C155   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -25 | NC      | $-8250.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | HPE US 11/21/25 C25    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -400 | NC      | $-53600.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | DG US 10/17/25 C103    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -60 | NC      | $-13500.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Cisco Systems, Inc.                   | CISCO SYSTEMS          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     16000 | NS      | $1094720.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc.                           | PFIZER INC             | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    100000 | NS      | $2548000.00   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                       | STARBUCKS CORP         | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     22500 | NS      | $1903500.00   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                            | APPLE INC              | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      9000 | NS      | $2291670.00   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills, Inc.                   | GENERAL MILLS IN       | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     28000 | NS      | $1411760.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | USB US 11/21/25 C50    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -200 | NC      | $-23600.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | DUK US 10/17/25 C120   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -95 | NC      | $-42655.00    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | XOM US 11/21/25 C115   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -40 | NC      | $-11200.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | HSY US 11/21/25 C195   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -75 | NC      | $-31875.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                  | JPMORGAN CHASE         | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      5000 | NS      | $1577150.00   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated     | MICROCHIP TECH         | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     30000 | NS      | $1926600.00   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | JPM US 10/17/25 C315   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -25 | NC      | $-20375.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | UNH US 11/21/25 C350   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -15 | NC      | $-30450.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Hershey Co. (The)                     | HERSHEY CO/THE         | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |     15000 | NS      | $2805750.00   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                       | MICROSOFT CORP         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      4000 | NS      | $2071800.00   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kraft Heinz Co.                   | KRAFT HEINZ CO/T       | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     47000 | NS      | $1223880.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | SBUX US 11/21/25 C85   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -75 | NC      | $-34500.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                   | SPY US 11/21/25 P620   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       400 | NC      | $155200.00    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc.                  | GILEAD SCIENCES        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      5000 | NS      | $555000.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                         | MEDTRONIC PLC          | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     20000 | NS      | $1904800.00   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-28

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

**Signature:** Rich Gleason

**Name of Signer:** Rich Gleason

**Title:** Treasurer