# EDGAR Filing Document

**Accession Number:** 0001722388
**File Stem:** 0002000324-26-002551
**Filing Date:** 2026-6
**Character Count:** 44341
**Document Hash:** 5870f741dd82bb33c830a57b422f3b84
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-002551.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0002000324-26-002551

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**PERIOD START**: 20260731

**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:** 261120417

**BUSINESS ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET, SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53204
- **BUSINESS PHONE:** 4694428424

**MAIL ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET, SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53204

**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

### Rockefeller California Municipal Bond ETF (Series ID: S000086368)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000251862 | Rockefeller California Municipal Bond ETF | RMCA            |

## Nport-Ex

**Rockefeller California Municipal Bond ETF**

**Schedule of Investments**

**April 30, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**MUNICIPAL BONDS & NOTES - 98.5%** | **Rate** | **Maturity <br> Date** | **Principal Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**California - 94.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avenal Public Financing Authority, Call 06/08/26<sup>(a)</sup> | 5.00% | 09/01/2036 | $40000 | $40001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Burbank-Glendale-Pasadena Airport Authority Brick Campaign, Call 07/01/34<sup>(a)</sup> | 5.25% | 07/01/2054 | 500000 | 517479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Community Choice Financing Authority, Call 11/01/35, Put 02/01/35<sup>(b)</sup> | 5.00% | 04/01/2056 | 150000 | 160848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California County Tobacco Securitization Agency, Call 05/24/26<sup>(c)</sup> | 0.00% | 06/01/2046 | 1250000 | 346282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California County Tobacco Securitization Agency, Call 05/24/26<sup>(c)</sup> | 0.00% | 06/01/2050 | 100000 | 23229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California County Tobacco Securitization Agency, Call 06/08/26<sup>(d)</sup> | 6.00% | 06/01/2042 | 95000 | 95148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority, Call 06/08/26<sup>(a)</sup> | 5.00% | 10/01/2044 | 300000 | 300176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority, Call 09/01/28<sup>(a)</sup> | 5.00% | 09/01/2048 | 100000 | 96231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Housing Finance Agency, FHA 542(C), Call 08/01/33<sup>(a)</sup> | 5.00% | 08/01/2055 | 500000 | 505332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Infrastructure & Economic Development Bank, Call 07/01/31<sup>(a)(d)(e)</sup> | 5.13% | 07/01/2054 | 300000 | 278701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, CMI, Call 05/29/26<sup>(a)</sup> | 5.00% | 05/15/2047 | 250000 | 251463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Call 05/29/26<sup>(a)</sup> | 5.00% | 11/01/2040 | 45000 | 45001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Call 06/01/28<sup>(a)(e)</sup> | 5.00% | 06/01/2048 | 150000 | 144124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Call 09/01/30<sup>(a)</sup> | 4.00% | 09/01/2050 | 200000 | 163797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Call 10/01/30<sup>(a)(e)</sup> | 5.00% | 10/01/2049 | 50000 | 46846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Call 07/01/31<sup>(a)</sup> | 4.00% | 07/01/2055 | 150000 | 117315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Call 01/01/32<sup>(a)(d)(e)</sup> | 5.38% | 01/01/2055 | 250000 | 249592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Call 07/01/32<sup>(a)</sup> | 5.50% | 07/01/2060 | 500000 | 532459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Call 09/01/36<sup>(a)</sup> | 5.25% | 09/01/2055 | 250000 | 252774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Municipal Finance Authority<sup>(f)</sup> | 5.00% | 10/01/2031 | 10000 | 10832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Public Finance Authority, Call 06/01/31<sup>(a)</sup> | 6.50% | 06/01/2054 | 175000 | 166372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Public Finance Authority, Call 03/01/32<sup>(a)(d)(e)</sup> | 6.63% | 03/01/2065 | 400000 | 410778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Public Finance Authority, Call 06/01/32<sup>(a)(d)(e)</sup> | 6.63% | 06/01/2065 | 150000 | 158558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Facilities Financing Authority, AG<sup>(a)(c)</sup> | 0.00% | 08/01/2049 | 1500000 | 464623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority, Call 06/08/26<sup>(a)(e)</sup> | 5.00% | 07/01/2036 | 250000 | 250128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority, Call 06/08/26<sup>(a)(e)</sup> | 5.00% | 08/01/2036 | 275000 | 275042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority, Call 06/08/26<sup>(a)(e)</sup> | 5.00% | 08/01/2045 | 70000 | 68235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority, Call 07/01/28<sup>(a)(e)</sup> | 5.00% | 07/01/2045 | 300000 | 295665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority, Call 08/01/28<sup>(a)(e)</sup> | 5.00% | 08/01/2038 | 40000 | 40524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority, Call 07/01/29<sup>(a)(e)</sup> | 5.00% | 07/01/2049 | 225000 | 224600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority, Call 10/01/30<sup>(a)(e)</sup> | 5.00% | 10/01/2042 | 25000 | 25351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority, Call 06/01/31<sup>(a)(e)</sup> | 5.00% | 06/01/2043 | 280000 | 280551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority, SAW, Call 07/01/32<sup>(a)(e)</sup> | 5.60% | 07/01/2064 | 150000 | 140562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California School Finance Authority, STI, Call 05/01/27<sup>(a)(d)(e)</sup> | 5.88% | 05/01/2047 | 200000 | 200292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State Public Works Board, Call 09/01/35 | 5.00% | 09/01/2050 | 500000 | 527163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California State University, Call 11/01/35<sup>(a)</sup> | 5.25% | 11/01/2056 | 300000 | 321982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, AG, Call <br> 08/15/32<sup>(a)(d)</sup> | 5.25% | 08/15/2052 | 300000 | 304478 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, CMI, Call <br> 07/01/32<sup>(a)(d)</sup> | 5.0% | 07/01/2055 | $250000.0 | $257741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, CMI, Call 04/01/33<sup>(a)</sup> | 5.0% | 04/01/2056 | 500000.0 | 514110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, Call 05/29/26<sup>(a)</sup> | 5.25% | 12/01/2044 | 30000.0 | 30012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, Call 05/29/26<sup>(a)</sup> | 5.5% | 12/01/2054 | 290000.0 | 290066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, Call 06/08/26<sup>(a)</sup> | 5.25% | 12/01/2056 | 150000.0 | 149998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, Call 06/01/28<sup>(a)(e)</sup> | 5.25% | 12/01/2043 | 25000.0 | 25505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, STR, Call 09/01/30<sup>(a)</sup> | 5.0% | 09/01/2043 | 180000.0 | 186756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Statewide Financing Authority, Call 06/08/26<sup>(d)</sup> | 6.0% | 05/01/2037 | 90000.0 | 91738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Los Angeles Department of Airports, Call 05/15/35<sup>(a)</sup> | 5.5% | 05/15/2055 | 400000.0 | 426690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of Oakland, CA, STR, Call 09/01/32<sup>(a)(d)</sup> | 5.25% | 09/01/2055 | 250000.0 | 254048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;County of Sacramento, CA Airport System Revenue, Call 07/01/35<sup>(a)</sup> | 5.25% | 07/01/2050 | 250000.0 | 259622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Downey Unified School District, GO, Call 08/01/33<sup>(a)(d)</sup> | 4.0% | 08/01/2052 | 500000.0 | 470559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lammersville Joint Unified School District, STR, Call 09/01/32<sup>(a)(d)</sup> | 5.25% | 09/01/2055 | 500000.0 | 514477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lompoc Valley Medical Center, GO, Call 06/08/26<sup>(a)(d)</sup> | 4.0% | 08/01/2037 | 500000.0 | 468871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Los Angeles Department of Water & Power, Call 07/01/34 | 5.25% | 07/01/2054 | 250000.0 | 259597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mountain House Community Facilities District, STR, Call 09/01/31<sup>(a)(d)</sup> | 5.25% | 09/01/2055 | 250000.0 | 253187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M-S-R Energy Authority<sup>(a)(d)</sup> | 6.13% | 11/01/2029 | 20000.0 | 21042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Poway Unified School District Public Financing Authority, BAM, STR, Call 06/08/26<sup>(a)</sup> | 5.0% | 10/01/2041 | 40000.0 | 40022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;River Islands Public Financing Authority, AG, STR, Call 09/01/36<sup>(c)</sup> | 0.0% | 09/01/2062 | 1450000.0 | 217103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Diego County Regional Airport Authority, Call 06/08/26<sup>(a)</sup> | 5.0% | 07/01/2044 | 150000.0 | 150468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Diego County Regional Airport Authority, Call 07/01/35<sup>(a)</sup> | 5.5% | 07/01/2055 | 250000.0 | 266474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco City & County Airport Comm-San Francisco International Airport, Call 05/01/35<sup>(a)</sup> | 5.25% | 05/01/2055 | 250000.0 | 259634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;San Francisco City & County Airport Comm-San Francisco International Airport, Call 05/01/35<sup>(a)</sup> | 5.25% | 05/01/2055 | 250000.0 | 260752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silicon Valley Tobacco Securitization Authority, Call 06/08/26<sup>(c)</sup> | 0.0% | 06/01/2036 | 500000.0 | 285790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silicon Valley Tobacco Securitization Authority, Call 06/08/26<sup>(c)</sup> | 0.0% | 06/01/2041 | 500000.0 | 188863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State of California, GO, Call 09/01/33 | 5.25% | 09/01/2053 | 150000.0 | 159815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Washington Township Health Care District, GO, Call 05/29/26<sup>(a)(d)</sup> | 5.0% | 08/01/2043 | 275000.0 | 275111 |
|  |  |  |  | 14910585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Puerto Rico - 3.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Children's Trust Fund, Call 06/08/26<sup>(d)</sup> | 5.5% | 05/15/2039 | 160000.0 | 162511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Children's Trust Fund, Call 06/08/26<sup>(d)</sup> | 5.63% | 05/15/2043 | 210000.0 | 213043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Call 07/01/28<sup>(a)(d)</sup> | 4.55% | 07/01/2040 | 27000.0 | 27041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Call 07/01/28<sup>(a)(d)</sup> | 4.75% | 07/01/2053 | 45000.0 | 43043 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Call 07/01/28<sup>(a)(d)</sup> | 4.78 | 07/01/2058 | $150000.0 | $143397 |
|  |  |  |  | 589035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL MUNICIPAL BONDS & NOTES (Cost $15,256,565)** |  |  |  | 15499620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 98.5% (Cost $15,256,565)** |  |  |  | $15499620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Assets in Excess of Liabilities - 1.5% |  |  |  | 233269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  |  |  | $15732889 |

---

Percentages are stated as a percent of net assets.

---

| | |
|:---|:---|
| AG | Assured Guaranty |
| BAM | Build America Mutual Assurance Co. |
| CMI | California Mortgage Insurance |
| GO | General Obligation |
| SAW | State Aid Withholding |
| STI | State Tax Intercept |
| STR | Special Tax Revenue |

---

(a) Sinkable security.

(b) Adjustable rate security. Rate disclosed is
 as of April 30, 2026.

(c) Zero coupon bond issued at a discount.

(d) Fixed coupon bond issued at a discount.

(e) Security exempt from registration pursuant to
 Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration
 to qualified institutional investors. As of April 30, 2026, the value of these securities total $3,115,054 or 19.8% of the
 Fund's net assets.

(f) At maturity security. Interest is paid in full
 at the maturity date.

## 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:** Rockefeller California Municipal Bond ETF

- **b. EDGAR series identifier (if any):** S000086368

- **c. LEI of Series:** 254900DX9FOOL95T1K22

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $15739151.79

**Total Liabilities:** $7117.39

**Net Assets:** $15732034.40

**Cash Not Reported:** $69238.28

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0 | **1-Year:** -44.84 | **5-Year:** -286.86 | **10-Year:** -8451.68 | **30-Year:** -6355.61

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** -118.93 | **10-Year:** -374.55 | **30-Year:** -322.21

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000251862 | 1.45%                | -1.64%               | 1.33%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $157030.26                                 |
| Month 2  | $562.70                  | $-290407.91                                |
| Month 3  | $-20378.30               | $169681.36                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Avenal Public Financing Authority                  | Avenal Public Financing Authority                      | CUSIP: 053559AZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40001.16     | 0.25%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Burbank-Glendale-Pasadena Airport Authority Brick  | Burbank-Glendale-Pasadena Airport Authority Brick      | CUSIP: 120827EF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517478.80    | 3.29%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A                     | California Community Choice Financing Authority        | CUSIP: 13013JHK5<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    150000 | PA      | $160847.93    | 1.02%             | 2056-04-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CA TOBACCO SEC                     | California County Tobacco Securitization Agency        | CUSIP: 13016NBY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95148.02     | 0.60%             | 2042-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency    | California County Tobacco Securitization Agency        | CUSIP: 13016NCH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $23228.72     | 0.15%             | 2050-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency    | California County Tobacco Securitization Agency        | CUSIP: 13016NCX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $346282.50    | 2.20%             | 2046-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority   | California Health Facilities Financing Authority       | CUSIP: 13032USL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $96230.94     | 0.61%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority   | California Health Facilities Financing Authority       | CUSIP: 13033L4N4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300175.65    | 1.91%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                  | California Housing Finance Agency                      | CUSIP: 13032WDK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505332.15    | 3.21%             | 2055-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development B | California Infrastructure & Economic Development B     | CUSIP: 13035CAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $278701.41    | 1.77%             | 2054-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                 | CUSIP: 130486BC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $144124.47    | 0.92%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                 | CUSIP: 13048DDG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $117314.72    | 0.75%             | 2055-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                 | CUSIP: 13048T7N7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251463.38    | 1.60%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                 | CUSIP: 13048TVF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     45000 | PA      | $45000.56     | 0.29%             | 2040-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                 | CUSIP: 13048V5M6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252774.50    | 1.61%             | 2055-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                 | CUSIP: 13048VPX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $46845.91     | 0.30%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                 | CUSIP: 13048VUP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $163796.78    | 1.04%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                 | CUSIP: 13048VXC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $10831.97     | 0.07%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                 | CUSIP: 130491AU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $532459.55    | 3.38%             | 2060-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority             | California Municipal Finance Authority                 | CUSIP: 13051EAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249591.55    | 1.59%             | 2055-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN                     | California Public Finance Authority                    | CUSIP: 13057GAP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $166372.12    | 1.06%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FIN AUTH SEN                     | California Public Finance Authority                    | CUSIP: 13057GAY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $410777.88    | 2.61%             | 2065-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| California School Facilities Financing Authority   | California School Facilities Financing Authority       | CUSIP: 13058RAU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $464622.75    | 2.95%             | 2049-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                    | CUSIP: 13058TCK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $68234.72     | 0.43%             | 2045-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                    | CUSIP: 13058TEZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200292.00    | 1.27%             | 2047-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                    | CUSIP: 13058TKK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $295664.73    | 1.88%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                    | CUSIP: 13058TLY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $275041.94    | 1.75%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                    | CUSIP: 13058TQA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25351.29     | 0.16%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                    | CUSIP: 13058TRV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    280000 | PA      | $280551.10    | 1.78%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                    | CUSIP: 13058TUW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $140562.09    | 0.89%             | 2064-07-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                    | CUSIP: 13059TCQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250127.78    | 1.59%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                    | CUSIP: 13059TFG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40524.39     | 0.26%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                | California School Finance Authority                    | CUSIP: 13059TFU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $224599.70    | 1.43%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SE                     | California Public Finance Authority                    | CUSIP: 13057TAG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $158557.56    | 1.01%             | 2065-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                | California State Public Works Board                    | CUSIP: 13068XTJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $527163.25    | 3.35%             | 2050-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State University                        | California State University                            | CUSIP: 13077DWG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $321982.14    | 2.05%             | 2056-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho     | CUSIP: 13077ENQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $186755.90    | 1.19%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho     | CUSIP: 13080S2T0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257741.38    | 1.64%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho     | CUSIP: 13080S3P7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $514110.25    | 3.27%             | 2056-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho     | CUSIP: 13080SEW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30011.77     | 0.19%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho     | CUSIP: 13080SM76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304477.71    | 1.94%             | 2052-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho     | CUSIP: 13080SML5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149998.14    | 0.95%             | 2056-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Autho | California Statewide Communities Development Autho     | CUSIP: 13080SVL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25505.10     | 0.16%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Financing Authority           | California Statewide Financing Authority               | CUSIP: 130923BG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $91737.83     | 0.58%             | 2037-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STWD CMNTYS DEV AUT                     | California Statewide Communities Development Authority | CUSIP: 13080SEX8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    290000 | PA      | $290065.98    | 1.84%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                              | Children's Trust Fund                                  | CUSIP: 16876QBF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $162511.30    | 1.03%             | 2039-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                              | Children's Trust Fund                                  | CUSIP: 16876QBG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $213042.52    | 1.35%             | 2043-05-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports         | City of Los Angeles Department of Airports             | CUSIP: 5444453D9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $426689.92    | 2.71%             | 2055-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Oakland CA                                 | City of Oakland CA                                     | CUSIP: 67232QAP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254048.05    | 1.61%             | 2055-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Sacramento CA Airport System Revenue     | County of Sacramento CA Airport System Revenue         | CUSIP: 786107XB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259621.85    | 1.65%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Downey Unified School District                     | Downey Unified School District                         | CUSIP: 261005SS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $470558.60    | 2.99%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lammersville Joint Unified School District         | Lammersville Joint Unified School District             | CUSIP: 513533JW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $514476.65    | 3.27%             | 2055-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Lompoc Valley Medical Center                       | Lompoc Valley Medical Center                           | CUSIP: 54178MBV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $468871.40    | 2.98%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power            | Los Angeles Department of Water & Power                | CUSIP: 544532NK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259597.48    | 1.65%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Mountain House Community Facilities District       | Mountain House Community Facilities District           | CUSIP: 62412KAL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253187.50    | 1.61%             | 2055-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| M-S-R Energy Authority                             | M-S-R Energy Authority                                 | CUSIP: 55374SAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $21041.58     | 0.13%             | 2029-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Poway Unified School District Public Financing Aut | Poway Unified School District Public Financing Aut     | CUSIP: 73885QDN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40021.55     | 0.25%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Rev | Puerto Rico Sales Tax Financing Corp Sales Tax Rev     | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     27000 | PA      | $27040.93     | 0.17%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Rev | Puerto Rico Sales Tax Financing Corp Sales Tax Rev     | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $143397.14    | 0.91%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| River Islands Public Financing Authority           | River Islands Public Financing Authority               | CUSIP: 768269AP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $217102.70    | 1.38%             | 2062-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority        | San Diego County Regional Airport Authority            | CUSIP: 79739GTE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $266474.35    | 1.69%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority        | San Diego County Regional Airport Authority            | CUSIP: 79742GAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150468.23    | 0.96%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Franc | San Francisco City & County Airport Comm-San Franc     | CUSIP: 79766DXP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $260751.68    | 1.66%             | 2055-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Franc | San Francisco City & County Airport Comm-San Franc     | CUSIP: 79766DYA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259634.10    | 1.65%             | 2055-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Silicon Valley Tobacco Securitization Authority    | Silicon Valley Tobacco Securitization Authority        | CUSIP: 82706TAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $285789.60    | 1.82%             | 2036-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SILICON VLY CA TOBACCO SECURIT                     | Silicon Valley Tobacco Securitization Authority        | CUSIP: 82706TAE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $188863.10    | 1.20%             | 2041-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| State of California                                | State of California                                    | CUSIP: 13063D5F1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $159815.30    | 1.02%             | 2053-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Washington Township Health Care District           | Washington Township Health Care District               | CUSIP: 940642CV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $275111.43    | 1.75%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-25

**Name of Applicant:** Tidal Trust III

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer