# EDGAR Filing Document

**Accession Number:** 0001722388
**File Stem:** 0002000324-25-002227
**Filing Date:** 2025-6
**Character Count:** 47110
**Document Hash:** 0cf3920ffab806b98bc0a5dddc6bf3f9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-002227.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0002000324-25-002227

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**PERIOD START**: 20250731

**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:** 251092786

**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

### Rockefeller New York Municipal Bond ETF (Series ID: S000086369)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000251863 | Rockefeller New York Municipal Bond ETF | RMNY            |

## Nport-Ex

**Rockefeller New York Municipal Bond ETF**

**Schedule of Investments**

**April 30, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**MUNICIPAL BONDS & NOTES - 110.5%** | **Interest<br> Rate** | **Maturity<br> Date** | **Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**New York - 107.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buffalo & Erie County Industrial Land Development Corp., Call 07/01/25<sup>(a)</sup> | 5.00% | 07/01/40 | 15000 | $14338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buffalo & Erie County Industrial Land Development Corp., Call 08/01/27<sup>(a)</sup> | 5.00% | 08/01/52 | 75000 | 70131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Build NYC Resource Corp., Call 06/22/25<sup>(a)(b)</sup> | 5.88% | 07/01/38 | 110000 | 98863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Build NYC Resource Corp., Call 06/22/25<sup>(a)</sup> | 5.00% | 06/01/43 | 50000 | 50007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Build NYC Resource Corp., Call 08/01/27<sup>(a)(b)</sup> | 3.63% | 08/01/42 | 65000 | 50950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Build NYC Resource Corp., Call 06/01/30<sup>(a)(b)(f)</sup> | 5.75% | 06/01/62 | 200000 | 194988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Build NYC Resource Corp., Call 07/01/32<sup>(a)</sup> | 5.00% | 07/01/42 | 50000 | 50495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chautauqua Tobacco Asset Securitization Corp., Call 06/22/25<sup>(a)(b)</sup> | 5.00% | 06/01/48 | 50000 | 45179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;City of New York NY, GO, Call 08/01/35<sup>(a)</sup> | 5.25% | 02/01/48 | 500000 | 531556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clinton County Capital Resource Corp., Call 07/01/34<sup>(a)(b)(f)</sup> | 5.00% | 07/01/46 | 200000 | 196597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dobbs Ferry Local Development Corp., Call 06/22/25<sup>(a)</sup> | 5.00% | 07/01/39 | 100000 | 97791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dutchess County Local Development Corp., Call 07/01/26 | 5.00% | 07/01/32 | 145000 | 146708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Empire State Development Corp., Call 05/22/25, Put 05/29/25<sup>(a)(c)</sup> | 3.45% | 03/15/33 | 150000 | 150000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Erie Tobacco Asset Securitization Corp., Call 06/22/25<sup>(b)</sup> | 5.00% | 06/01/45 | 100000 | 88306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hempstead Town Local Development Corp., Call 06/22/25 | 5.00% | 10/01/35 | 25000 | 25020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hempstead Town Local Development Corp., Call 06/22/25<sup>(a)</sup> | 5.00% | 09/01/43 | 85000 | 84210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hempstead Town Local Development Corp., Call 06/22/25<sup>(a)</sup> | 5.00% | 07/01/44 | 100000 | 100117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority Dedicated Tax Fund, Call 11/15/34 | 5.00% | 11/15/50 | 200000 | 207055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority, Call 05/15/25<sup>(a)</sup> | 5.00% | 11/15/45 | 100000 | 100059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority, Call 06/02/25, Put 05/22/25<sup>(c)</sup> | 2.55% | 11/15/50 | 100000 | 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority, Call 05/15/26<sup>(a)</sup> | 5.25% | 11/15/56 | 450000 | 450857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority, Call 05/15/35<sup>(a)</sup> | 5.25% | 11/15/55 | 200000 | 207629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monroe County Industrial Development Corp., Call 07/01/25<sup>(a)</sup> | 5.00% | 07/01/37 | 115000 | 115110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monroe County Industrial Development Corp., Call 07/01/34<sup>(a)(f)</sup> | 5.00% | 07/01/59 | 140000 | 120521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monroe County Industrial Development Corp., Call 07/01/34<sup>(a)(f)</sup> | 5.00% | 07/01/54 | 110000 | 96170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MTA Hudson Rail Yards Trust Obligations, Call 06/12/25 | 5.00% | 11/15/56 | 200000 | 198827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MTA Hudson Rail Yards Trust Obligations, Call 06/12/25 | 5.00% | 11/15/51 | 60000 | 59996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nassau County Industrial Development Agency, Call 06/02/25, Put 05/22/25<sup>(a)(b)(c)</sup> | 2.50% | 01/01/42 | 575000 | 575000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nassau County Tobacco Settlement Corp., Call 06/07/25<sup>(a)(b)(c)</sup> | 5.13% | 06/01/46 | 100000 | $84880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Health and Hospitals Corp., Call 05/22/25, Put 05/29/25<sup>(a)(c)</sup> | 2.80% | 02/15/31 | 450000 | 450000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Housing Development Corp, Call 05/01/33<sup>(a)</sup> | 5.20% | 11/01/50 | 400000 | 407381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Housing Development Corp., HUD SEC 8, Call 08/01/32 | 4.50% | 08/01/54 | 120000 | 116626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Housing Development Corp., Call 11/01/32<sup>(a)</sup> | 5.00% | 11/01/59 | 200000 | 198465 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority, Call 05/22/25, Put 05/22/25<sup>(c)</sup> | 2.5% | 06/15/43 | 150000.0 | 150000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority, Call 12/15/34 | 5.25% | 06/15/53 | 260000.0 | 274508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority, SAW,Call 06/22/25<sup>(a)</sup> | 5.0% | 07/15/43 | 250000.0 | 250004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority, Call 05/22/25, Put 05/22/25<sup>(a)(c)</sup> | 2.5% | 11/01/54 | 450000.0 | 450000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority, Call 05/22/25, Put 05/22/25<sup>(a)(c)</sup> | 2.5% | 05/01/47 | 100000.0 | 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority, Call 05/22/25, Put 05/22/25<sup>(a)(c)</sup> | 2.5% | 02/01/45 | 275000.0 | 275000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York City Transitional Finance Authority, SAW, Call 07/15/25 | 5.0% | 07/15/36 | 30000.0 | 30030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Convention Center Development Corp., Call 11/15/25<sup>(a)</sup> | 5.0% | 11/15/45 | 220000.0 | 218240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Counties Tobacco Trust IV, Call 06/07/25<sup>(b)</sup> | 5.0% | 06/01/45 | 5000.0 | 4326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Counties Tobacco Trust IV, Call 06/07/25<sup>(b)</sup> | 5.0% | 06/01/42 | 20000.0 | 17830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Counties Tobacco Trust IV, Call 06/07/25<sup>(b)</sup> | 5.0% | 06/01/38 | 25000.0 | 23204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Counties Tobacco Trust VI, Call 06/01/26<sup>(b)</sup> | 3.75% | 06/01/45 | 140000.0 | 104982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Mortgage Agency, SONYMA, Call 10/01/32<sup>(a)</sup> | 4.6% | 10/01/54 | 100000.0 | 97215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, Call 02/15/30<sup>(a)</sup> | 4.0% | 02/15/47 | 250000.0 | 230200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, Call 03/15/35<sup>(a)</sup> | 5.0% | 03/15/54 | 150000.0 | 155229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Dormitory Authority, Call 07/01/35 | 5.25% | 07/01/54 | 500000.0 | 523355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York State Housing Finance Agency, SONYMA HUD SEC 8, Call 05/01/32<sup>(a)</sup> | 4.65% | 11/01/48 | 200000.0 | 197861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., AGM-CR, Call 06/22/25<sup>(a)</sup> | 5.0% | 07/01/46 | 50000.0 | 49998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 10/01/30<sup>(a)</sup> | 5.0% | 10/01/40 | 100000.0 | 99500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 12/01/30 | 4.0% | 12/01/42 | 200000.0 | 176053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 06/30/31<sup>(a)</sup> | 6.0% | 06/30/54 | 100000.0 | 104879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 06/30/33<sup>(a)</sup> | 5.5% | 06/30/60 | 500000.0 | 506942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 06/22/25<sup>(a)</sup> | 5.25% | 01/01/50 | 30000.0 | 29752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 06/22/25<sup>(a)</sup> | 5.0% | 07/01/41 | 145000.0 | 145012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 10/01/30<sup>(a)(b)</sup> | 4.38% | 10/01/45 | 50000.0 | 45314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., Call 12/31/34<sup>(a)</sup> | 5.5% | 12/31/60 | 300000.0 | 304760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., AGC, Call 12/31/34<sup>(b)</sup> | 5.25% | 12/31/54 | 75000.0 | 76206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York Transportation Development Corp., AGC, Call 12/31/44<sup>(a)(e)</sup> | 0.0% | 12/31/54 | 200000.0 | 122808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oneida County Local Development Corp., Call 07/01/29<sup>(a)(b)</sup> | 3.0% | 07/01/44 | 25000.0 | 15509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Onondaga Civic Development Corp., Call 07/01/25<sup>(a)</sup> | 5.0% | 07/01/45 | 40000.0 | 38686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Onondaga Civic Development Corp., Call 06/01/35<sup>(a)</sup> | 5.5% | 12/01/56 | 600000.0 | 644296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey, Call 08/01/32<sup>(a)</sup> | 5.5% | 08/01/52 | 100000.0 | 103632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey, Call 01/15/33<sup>(a)</sup> | 5.0% | 01/15/52 | 400000.0 | 399534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey, Call 01/15/35<sup>(a)</sup> | 5.0% | 01/15/50 | 500000.0 | 516640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Triborough Bridge & Tunnel Authority, Call 05/22/25, Put 05/22/25<sup>(a)(c)</sup> | 2.5% | 01/01/33 | 155000.0 | 155000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Triborough Bridge & Tunnel Authority, Call 06/01/35<sup>(a)</sup> | 5.25% | 12/01/54 | 400000.0 | 420211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trust for Cultural Resources of The City of New York, Call 06/02/25, Put 05/29/25<sup>(a)(c)</sup> | 3.55% | 07/01/32 | 450000.0 | 450000 |
|  |  |  |  | 12990548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Puerto Rico - 3.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Children's Trust Fund, Call 06/22/25<sup>(b)</sup> | 5.63% | 05/15/43 | 10000.0 | 10124 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Children's Trust Fund, Call 06/22/25<sup>(b)</sup> | 5.5% | 05/15/39 | 35000.0 | 35184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp., Call 07/01/28<sup>(a)(b)</sup> | 4.78% | 07/01/58 | 200000.0 | 184617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp., Call 07/01/28<sup>(a)(b)</sup> | 4.54% | 07/01/53 | 12000.0 | 10540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp., Call 07/01/28<sup>(a)(d)</sup> | 0.0% | 07/01/51 | 625000.0 | 148380 |
|  |  |  |  | 388845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL MUNICIPAL BONDS & NOTES (Cost $13,441,469)** |  |  |  | 13379393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 110.5% (Cost $13,441,469)** |  |  |  | $13379393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities in Excess of Other Assets - (10.5)% |  |  |  | (1275394) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  |  |  | $12103999 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percentages are stated as a percent of net assets.

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGC – Assured Guaranty Corp |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGM – Assured Guaranty Municipal |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGM-CR – AGM Insured Custodial Receipt |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GO - General Obligations |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SAW – State Aid Withholding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SONYMA – State of New York Mortgage Agency |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Sinkable security.

(b) Fixed coupon bond issued at a discount.

(c) Adjustable rate security. Rate disclosed is as of April 30, 2025.

(d) Zero coupon bond issued at a discount.

(e) Interest appreciation bond issued at a discount.

(f) 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.

## 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 New York Municipal Bond ETF

- **b. EDGAR series identifier (if any):** S000086369

- **c. LEI of Series:** 2549009ZENSO21UIIK40

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $12743044.33

**Total Liabilities:** $639045.24

**Net Assets:** $12103999.09

**Delayed Delivery Securities:** $475663.50

**Cash Not Reported:** $63590.93

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** -391.45 | **10-Year:** -3761.21 | **30-Year:** -1542.13

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

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** -52.61 | **30-Year:** -609.44

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000251863 | 1.07%                | -1.80%               | -1.15%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-50.00                  | $37253.21                                  |
| Month 2  | $-14662.45               | $-94104.23                                 |
| Month 3  | $-3134.65                | $-3042.80                                  |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Buffalo & Erie County Industrial Land Development  | Buffalo & Erie County Industrial Land Development      | CUSIP: 11943KBX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     15000 | PA      | $14338.10     | 0.12%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Buffalo & Erie County Industrial Land Development  | Buffalo & Erie County Industrial Land Development      | CUSIP: 11943KDD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $70131.08     | 0.58%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                            | Build NYC Resource Corp                                | CUSIP: 12008EBJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $98863.37     | 0.82%             | 2038-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                            | Build NYC Resource Corp                                | CUSIP: 12008EDL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50007.17     | 0.41%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                            | Build NYC Resource Corp                                | CUSIP: 12008EMY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $50950.44     | 0.42%             | 2042-08-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                            | Build NYC Resource Corp                                | CUSIP: 12008ETL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $194987.58    | 1.61%             | 2062-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Build NYC Resource Corp                            | Build NYC Resource Corp                                | CUSIP: 12008ETW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50494.61     | 0.42%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chautauqua Tobacco Asset Securitization Corp       | Chautauqua Tobacco Asset Securitization Corp           | CUSIP: 162564BB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $45178.92     | 0.37%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Children's Trust Fund                              | Children's Trust Fund                                  | CUSIP: 16876QBF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $35183.33     | 0.29%             | 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        |     10000 | PA      | $10124.13     | 0.08%             | 2043-05-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CLINTON CNTY NY CAPITAL RESOUR                     | Clinton County Capital Resource Corp                   | CUSIP: 187469AG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $196597.02    | 1.62%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dobbs Ferry Local Development Corp                 | Dobbs Ferry Local Development Corp                     | CUSIP: 256048AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $97790.84     | 0.81%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dutchess County Local Development Corp             | Dutchess County Local Development Corp                 | CUSIP: 267045GR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $146708.49    | 1.21%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Empire State Development Corp                      | Empire State Development Corp                          | CUSIP: 650035MJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150000.00    | 1.24%             | 2033-03-15      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| Erie Tobacco Asset Securitization Corp             | Erie Tobacco Asset Securitization Corp                 | CUSIP: 295095BB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $88306.00     | 0.73%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hempstead Town Local Development Corp              | Hempstead Town Local Development Corp                  | CUSIP: 424682EY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     85000 | PA      | $84209.70     | 0.70%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hempstead Town Local Development Corp              | Hempstead Town Local Development Corp                  | CUSIP: 424682FT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $25020.00     | 0.21%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hempstead Town Local Development Corp              | Hempstead Town Local Development Corp                  | CUSIP: 424682GE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100116.94    | 0.83%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                      | Metropolitan Transportation Authority                  | CUSIP: 59259Y3Q0<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100059.33    | 0.83%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                      | Metropolitan Transportation Authority                  | CUSIP: 59261ACW5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    450000 | PA      | $450856.89    | 3.72%             | 2056-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority              | Metropolitan Transportation Authority                  | CUSIP: 59261A5G8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $207628.80    | 1.72%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority              | Metropolitan Transportation Authority                  | CUSIP: 59261AM53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.83%             | 2050-11-15      | Variable      | 2.55%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority Dedicated Ta | Metropolitan Transportation Authority Dedicated Ta     | CUSIP: 59260XCT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $207055.16    | 1.71%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp/NY       | Monroe County Industrial Development Corp/NY           | CUSIP: 61075TMF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $115110.11    | 0.95%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp/NY       | Monroe County Industrial Development Corp/NY           | CUSIP: 61075TXV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $96170.31     | 0.79%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Monroe County Industrial Development Corp/NY       | Monroe County Industrial Development Corp/NY           | CUSIP: 61075TXW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $120520.93    | 1.00%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MTA HUDSON RAIL YARDS TRUST OB                     | MTA Hudson Rail Yards Trust Obligations                | CUSIP: 62476RAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $59996.41     | 0.50%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MTA HUDSON RAIL YARDS TRUST OB                     | MTA Hudson Rail Yards Trust Obligations                | CUSIP: 62476RAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $198826.58    | 1.64%             | 2056-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nassau County Industrial Development Agency        | Nassau County Industrial Development Agency            | CUSIP: 631657LK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $575000.00    | 4.75%             | 2042-01-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| Nassau County Tobacco Settlement Corp              | Nassau County Tobacco Settlement Corp                  | CUSIP: 63166MCB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $84880.04     | 0.70%             | 2046-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| New York City Health and Hospitals Corp            | New York City Health and Hospitals Corp                | CUSIP: 649674GR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $450000.00    | 3.72%             | 2031-02-15      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp             | New York City Housing Development Corp                 | CUSIP: 64966WJP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $116625.95    | 0.96%             | 2054-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp             | New York City Housing Development Corp                 | CUSIP: 64972KKE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $407381.08    | 3.37%             | 2050-11-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority    | New York City Municipal Water Finance Authority        | CUSIP: 64972GDC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150000.00    | 1.24%             | 2043-06-15      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority    | New York City Municipal Water Finance Authority        | CUSIP: 64972GK37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $274508.00    | 2.27%             | 2053-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP                      | New York City Housing Development Corp                 | CUSIP: 64972KGP4<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    200000 | PA      | $198465.16    | 1.64%             | 2059-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority       | New York City Transitional Finance Authority           | CUSIP: 64972JHF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.83%             | 2047-05-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority       | New York City Transitional Finance Authority           | CUSIP: 64972JSE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $450000.00    | 3.72%             | 2054-11-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Build | New York City Transitional Finance Authority Build     | CUSIP: 64972HWB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250004.05    | 2.07%             | 2043-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Build | New York City Transitional Finance Authority Build     | CUSIP: 64972HXU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30029.68     | 0.25%             | 2036-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Futur | New York City Transitional Finance Authority Futur     | CUSIP: 64971WE63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $275000.00    | 2.27%             | 2045-02-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust IV                 | New York Counties Tobacco Trust IV                     | CUSIP: 62947YAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $23204.19     | 0.19%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust IV                 | New York Counties Tobacco Trust IV                     | CUSIP: 62947YAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     20000 | PA      | $17829.61     | 0.15%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust IV                 | New York Counties Tobacco Trust IV                     | CUSIP: 62947YAE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $4326.23      | 0.04%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Counties Tobacco Trust VI                 | New York Counties Tobacco Trust VI                     | CUSIP: 64945JAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $104981.95    | 0.87%             | 2045-06-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                        | City of New York NY                                    | CUSIP: 64966SMD5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    500000 | PA      | $531556.10    | 4.39%             | 2048-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES                     | New York State Dormitory Authority                     | CUSIP: 64985SBX0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $523354.60    | 4.32%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                     | New York Transportation Development Corp               | CUSIP: 650116AQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $145011.57    | 1.20%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                     | New York Transportation Development Corp               | CUSIP: 650116AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $29751.89     | 0.25%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                     | New York Transportation Development Corp               | CUSIP: 650116HT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $76205.87     | 0.63%             | 2054-12-31      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                     | New York Transportation Development Corp               | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304759.89    | 2.52%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                 | New York State Dormitory Authority                     | CUSIP: 64990AWY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $155229.03    | 1.28%             | 2054-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                 | New York State Dormitory Authority                     | CUSIP: 64990FPV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $230199.83    | 1.90%             | 2047-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency              | New York State Housing Finance Agency                  | CUSIP: 64987JG70<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $197861.56    | 1.63%             | 2048-11-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp           | New York Transportation Development Corp               | CUSIP: 650116BZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $49998.11     | 0.41%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp           | New York Transportation Development Corp               | CUSIP: 650116DA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $45314.41     | 0.37%             | 2045-10-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp           | New York Transportation Development Corp               | CUSIP: 650116DX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $176052.74    | 1.45%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp           | New York Transportation Development Corp               | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $104879.18    | 0.87%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp           | New York Transportation Development Corp               | CUSIP: 650116HQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506942.05    | 4.19%             | 2060-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New York Transportation Development Corp           | New York Transportation Development Corp               | CUSIP: 650116HX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $122808.10    | 1.01%             | 2054-12-31      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Oneida County Local Development Corp               | Oneida County Local Development Corp                   | CUSIP: 682440CL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $15508.93     | 0.13%             | 2044-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Onondaga Civic Development Corp                    | Onondaga Civic Development Corp                        | CUSIP: 682832DB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $38686.16     | 0.32%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                         | Onondaga Civic Development Corp                        | CUSIP: 682832LL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $644295.84    | 5.32%             | 2056-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE                     | Port Authority of New York & New Jersey                | CUSIP: 73358XHF2<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    400000 | PA      | $399534.44    | 3.30%             | 2052-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey            | Port Authority of New York & New Jersey                | CUSIP: 73358XFS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103631.82    | 0.86%             | 2052-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Rev | Puerto Rico Sales Tax Financing Corp Sales Tax Rev     | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     12000 | PA      | $10540.12     | 0.09%             | 2053-07-01      | Fixed         | 4.54%                 | 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        |    200000 | PA      | $184616.64    | 1.53%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                     | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $148380.25    | 1.23%             | 2051-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| State of New York Mortgage Agency Homeowner Mortga | State of New York Mortgage Agency Homeowner Mortga     | CUSIP: 64988YB48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $97214.74     | 0.80%             | 2054-10-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority               | Triborough Bridge & Tunnel Authority                   | CUSIP: 89602RLG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $155000.00    | 1.28%             | 2033-01-01      | Variable      | 2.65%                 | No            |                  2 | On Loan: No      |
| Triborough Bridge & Tunnel Authority               | Triborough Bridge & Tunnel Authority                   | CUSIP: 896032BB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $420210.60    | 3.47%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Trust for Cultural Resources of The City of New Yo | Trust for Cultural Resources of The City of New Yo     | CUSIP: 649717QE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $450000.00    | 3.72%             | 2032-07-01      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Tidal Trust III

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer