# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0000910472-26-007813
**Filing Date:** 2026-5
**Character Count:** 20237
**Document Hash:** 61480eab51576623c80df44fe1637972
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-007813.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000910472-26-007813

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260630

**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:** 261030708

**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

### Swan Defined Risk Growth Fund (Series ID: S000063531)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000205842 | Swan Defined Risk Growth Fund Class A Shares | SDAAX           |
| C000205843 | Swan Defined Risk Growth Fund Class C Shares | SDACX           |
| C000205844 | Swan Defined Risk Growth Fund Class I Shares | SDAIX           |

## Nport-Ex

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SWAN DEFINED RISK FUND** | **SWAN DEFINED RISK FUND** | **SWAN DEFINED RISK FUND** | **SWAN DEFINED RISK FUND** | **SWAN DEFINED RISK FUND** | **SWAN DEFINED RISK FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  |  |  |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 88.6%** | **EXCHANGE-TRADED FUNDS — 88.6%** |  |  |  |
|  | **EQUITY - 88.6%** | **EQUITY - 88.6%** |  |  |  |
| 532000 | iShares Core S&P 500 ETF<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; $347507720 |
| 149574 | State Street Communication Services Select Sector SPDR ETF<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 16581774 |
| 156924 | State Street Consumer Discretionary Select Sector SPDR ETF<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 17101578 |
| 111549 | State Street Consumer Staples Select Sector SPDR ETF<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 9144787 |
| 115832 | State Street Energy Select Sector SPDR ETF |  |  |  | &nbsp;&nbsp;&nbsp; 7095868 |
| 440480 | State Street Financial Select Sector SPDR ETF<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 21746498 |
| 114442 | State Street Health Care Select Sector SPDR ETF<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 16778342 |
| 96578 | State Street Industrial Select Sector SPDR ETF<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 15619560 |
| 70422 | State Street Materials Select Sector SPDR ETF |  |  |  | &nbsp;&nbsp;&nbsp; 3518987 |
| 80407 | State Street Real Estate Select Sector SPDR ETF<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 3283018 |
| 433006 | State Street Technology Select Sector SPDR ETF<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 57546497 |
| 95688 | State Street Utilities Select Sector SPDR ETF |  |  |  | &nbsp;&nbsp;&nbsp; 4391122 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $195,469,178)** |  |  |  | &nbsp;&nbsp; 520315751 |
|  | **SHORT-TERM INVESTMENTS — 0.5%** | **SHORT-TERM INVESTMENTS — 0.5%** |  |  |  |
|  | **MONEY MARKET FUNDS - 0.5%** | **MONEY MARKET FUNDS - 0.5%** |  |  |  |
| 2974819 | First American Government Obligations Fund, Class X, 3.58% (Cost $2,974,819)<sup>(b)</sup> | First American Government Obligations Fund, Class X, 3.58% (Cost $2,974,819)<sup>(b)</sup> |  |  | &nbsp;&nbsp;&nbsp; 2974819 |
| **Contracts<sup>(c)</sup>** |  |  |  |  |  |
|  | **INDEX OPTIONS PURCHASED - 11.7%** | **Expiration Date** | **Exercise Price** | **Notional Value** |  |
|  | **PUT OPTIONS PURCHASED - 11.7%** | **PUT OPTIONS PURCHASED - 11.7%** |  |  |  |
| 405 | S&P 500 Index | 12/17/2027 | $7250 | &nbsp;&nbsp;&nbsp; $264405060 | &nbsp;&nbsp;&nbsp; $33698163 |
| 400 | S&P 500 Index | 12/17/2027 | 7350 | &nbsp;&nbsp;&nbsp; 261140800 | &nbsp;&nbsp;&nbsp; 35193976 |
|  | **TOTAL PUT OPTIONS PURCHASED** (Cost - $54,442,586) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $54,442,586) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $54,442,586) |  | &nbsp;&nbsp; 68892139 |
|  | **TOTAL INVESTMENTS - 100.8% (Cost $252,886,583)** | **TOTAL INVESTMENTS - 100.8% (Cost $252,886,583)** |  |  | &nbsp;&nbsp;&nbsp; $592182709 |
|  | **PUT OPTIONS WRITTEN - (0.8)% (Premiums received - $5,616,859)** | **PUT OPTIONS WRITTEN - (0.8)% (Premiums received - $5,616,859)** |  |  | &nbsp;&nbsp;&nbsp; (4539030) |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%<sup>(d)</sup>** | **LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%<sup>(d)</sup>** |  |  | &nbsp;&nbsp; (207212) |
|  | **NET ASSETS - 100.0%** |  |  |  | &nbsp;&nbsp; $587436467 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SWAN DEFINED RISK FUND** | **SWAN DEFINED RISK FUND** | **SWAN DEFINED RISK FUND** | **SWAN DEFINED RISK FUND** | **SWAN DEFINED RISK FUND** | **SWAN DEFINED RISK FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Contracts<sup>(c)</sup>** |  |  |  |  |  |
|  | **WRITTEN INDEX OPTIONS - (0.8)%** | **Expiration Date** | **Exercise Price** | **Notional Value** | **Fair Value** |
|  | **PUT OPTIONS WRITTEN - (0.8)%** | **PUT OPTIONS WRITTEN - (0.8)%** |  |  |  |
| 403 | S&P 500 Index | 05/15/2026 | $6150 | &nbsp;&nbsp;&nbsp; $263099356 | &nbsp;&nbsp;&nbsp; $3344709 |
| 200 | S&P 500 Index | 05/29/2026 | 5860 | &nbsp;&nbsp;&nbsp; 130570400 | &nbsp;&nbsp;&nbsp; 1194321 |
|  | **TOTAL PUT OPTIONS WRITTEN (Premiums received - $5,616,859)** | **TOTAL PUT OPTIONS WRITTEN (Premiums received - $5,616,859)** | **TOTAL PUT OPTIONS WRITTEN (Premiums received - $5,616,859)** |  | &nbsp;&nbsp; 4539030 |

---

ETF - Exchange-Traded Fund <br> SPDR - Standard & Poor's Depositary Receipt <br>

<sup>(a)</sup> All or a portion of the security is held as collateral for written options. As of March 31, 2026, the total value of securities held as collateral is $404,803,403.

<sup>(b)</sup> Rate disclosed is the seven day effective yield as of March 31, 2026.

<sup>(c)</sup> Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security.

<sup>(d)</sup> Rounds to less than 0.1%.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SWAN DEFINED RISK GROWTH FUND** | **SWAN DEFINED RISK GROWTH FUND** | **SWAN DEFINED RISK GROWTH FUND** | **SWAN DEFINED RISK GROWTH FUND** | **SWAN DEFINED RISK GROWTH FUND** | **SWAN DEFINED RISK GROWTH FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  |  |  |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 87.3%** | **EXCHANGE-TRADED FUNDS — 87.3%** |  |  |  |
|  | **EQUITY - 87.3%** | **EQUITY - 87.3%** |  |  |  |
| 72000 | iShares Core S&P 500 ETF<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; $47031120 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $25,732,350)** |  |  |  |  |
|  | **SHORT-TERM INVESTMENTS — 2.0%** | **SHORT-TERM INVESTMENTS — 2.0%** |  |  |  |
|  | **MONEY MARKET FUNDS - 2.0%** | **MONEY MARKET FUNDS - 2.0%** |  |  |  |
| 1092821 | First American Government Obligations Fund, Class X, 3.58% (Cost $1,092,821)<sup>(b)</sup> | First American Government Obligations Fund, Class X, 3.58% (Cost $1,092,821)<sup>(b)</sup> |  |  | &nbsp;&nbsp;&nbsp; 1092821 |
| **Contracts<sup>(c)</sup>** |  |  |  |  |  |
|  | **INDEX OPTIONS PURCHASED - 12.2%** | **Expiration Date** | **Exercise Price** | **Notional Value** |  |
|  | **CALL OPTIONS PURCHASED - 2.7%** | **CALL OPTIONS PURCHASED - 2.7%** |  |  |  |
| 39 | S&P 500 Index | 12/17/2027 | $7500.00 | &nbsp;&nbsp;&nbsp; $25461228 | &nbsp;&nbsp;&nbsp; $1454570 |
|  | **TOTAL CALL OPTIONS PURCHASED (Cost - $1,779,844)** | **TOTAL CALL OPTIONS PURCHASED (Cost - $1,779,844)** | **TOTAL CALL OPTIONS PURCHASED (Cost - $1,779,844)** |  |  |
|  | **PUT OPTIONS PURCHASED - 9.5%** | **PUT OPTIONS PURCHASED - 9.5%** |  |  |  |
| 400 | Cboe Volatility Index | 04/15/2026 | 20.00 | &nbsp;&nbsp;&nbsp; 1010000 | &nbsp;&nbsp;&nbsp; 10446 |
| 400 | Cboe Volatility Index | 04/15/2026 | 21.50 | &nbsp;&nbsp;&nbsp; 1010000 | &nbsp;&nbsp;&nbsp; 25743 |
| 4 | S&P 500 Index | 12/17/2027 | 6400.00 | &nbsp;&nbsp;&nbsp; 2611408 | &nbsp;&nbsp;&nbsp; 202653 |
| 31 | S&P 500 Index | 12/17/2027 | 6900.00 | &nbsp;&nbsp;&nbsp; 20238412 | &nbsp;&nbsp;&nbsp; 2113612 |
| 37 | S&P 500 Index | 12/17/2027 | 7050.00 | &nbsp;&nbsp;&nbsp; 24155524 | &nbsp;&nbsp;&nbsp; 2750846 |
|  | **TOTAL PUT OPTIONS PURCHASED (Cost - $4,221,000)** | **TOTAL PUT OPTIONS PURCHASED (Cost - $4,221,000)** | **TOTAL PUT OPTIONS PURCHASED (Cost - $4,221,000)** |  | &nbsp;&nbsp; 5103300 |
|  | **TOTAL INDEX OPTIONS PURCHASED (Cost - $6,000,844)** | **TOTAL INDEX OPTIONS PURCHASED (Cost - $6,000,844)** |  |  | 6557870 |
|  | **TOTAL INVESTMENTS - 101.5% (Cost $32,826,015)** | **TOTAL INVESTMENTS - 101.5% (Cost $32,826,015)** |  |  | &nbsp;&nbsp;&nbsp; $54681811 |
|  | **CALL OPTIONS WRITTEN - (1.1)% (Premiums received - $771,758)** | **CALL OPTIONS WRITTEN - (1.1)% (Premiums received - $771,758)** |  |  | &nbsp;&nbsp;&nbsp; (591660) |
|  | **PUT OPTIONS WRITTEN - (0.7)% (Premiums received - $475,113)** | **PUT OPTIONS WRITTEN - (0.7)% (Premiums received - $475,113)** |  |  | &nbsp;&nbsp;&nbsp; (383701) |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.3%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.3%** |  |  | &nbsp;&nbsp; 154453 |
|  | **NET ASSETS - 100.0%** |  |  |  | &nbsp;&nbsp; $53860903 |
| **Contracts<sup>(c)</sup>** |  |  |  |  |  |
|  | **WRITTEN INDEX OPTIONS - (1.8)%** | **Expiration Date** | **Exercise Price** | **Notional Value** | **Fair Value** |
|  | **CALL OPTIONS WRITTEN - (1.1)%** | **CALL OPTIONS WRITTEN - (1.1)%** |  |  |  |
| 400 | Cboe Volatility Index | 04/15/2026 | $23.00 | &nbsp;&nbsp;&nbsp; $1010000 | &nbsp;&nbsp;&nbsp; $137501 |
| 400 | Cboe Volatility Index | 04/15/2026 | 27.00 | &nbsp;&nbsp;&nbsp; 1010000 | &nbsp;&nbsp;&nbsp; 80664 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SWAN DEFINED RISK GROWTH FUND** | **SWAN DEFINED RISK GROWTH FUND** | **SWAN DEFINED RISK GROWTH FUND** | **SWAN DEFINED RISK GROWTH FUND** | **SWAN DEFINED RISK GROWTH FUND** | **SWAN DEFINED RISK GROWTH FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Contracts<sup>(c)</sup>** |  |  |  |  |  |
|  | **WRITTEN INDEX OPTIONS - (1.8)% (Continued)** | **Expiration Date** | **Exercise Price** | **Notional Value** | **Fair Value** |
|  | **CALL OPTIONS WRITTEN- (1.1)% (Continued)** | **CALL OPTIONS WRITTEN- (1.1)% (Continued)** |  |  |  |
| 39 | S&P 500 Index | 12/17/2027 | $8500.00 | &nbsp;&nbsp;&nbsp; $25461228 | &nbsp;&nbsp;&nbsp; $373495 |
|  | **TOTAL CALL OPTIONS WRITTEN (Premiums received - $771,758)** | **TOTAL CALL OPTIONS WRITTEN (Premiums received - $771,758)** | **TOTAL CALL OPTIONS WRITTEN (Premiums received - $771,758)** |  | &nbsp;&nbsp; 591660 |
|  | **PUT OPTIONS WRITTEN - (0.7)%** | **PUT OPTIONS WRITTEN - (0.7)%** |  |  |  |
| 34 | S&P 500 Index | 05/15/2026 | 6150.00 | &nbsp;&nbsp;&nbsp; 22196968 | &nbsp;&nbsp;&nbsp; 282184 |
| 17 | S&P 500 Index | 05/29/2026 | 5860.00 | &nbsp;&nbsp;&nbsp; 11098484 | &nbsp;&nbsp;&nbsp; 101517 |
|  | **TOTAL PUT OPTIONS WRITTEN (Premiums received - $475,113)** | **TOTAL PUT OPTIONS WRITTEN (Premiums received - $475,113)** | **TOTAL PUT OPTIONS WRITTEN (Premiums received - $475,113)** |  | &nbsp;&nbsp; 383701 |
|  | **TOTAL INDEX OPTIONS WRITTEN (Premiums received - $1,246,871)** | **TOTAL INDEX OPTIONS WRITTEN (Premiums received - $1,246,871)** |  |  | &nbsp;&nbsp; $975361 |

---

ETF - Exchange-Traded Fund

<sup>(a)</sup> All or a portion of the security is held as collateral for written options. As of March 31, 2026, the total value of securities held as collateral is $32,007,290.

<sup>(b)</sup> Rate disclosed is the seven day effective yield as of March 31, 2026.

<sup>(c)</sup> Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security.

## 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:** Swan Defined Risk Growth Fund

- **b. EDGAR series identifier (if any):** S000063531

- **c. LEI of Series:** 5493006NNX4MJZUY5E83

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $54938756.86

**Total Liabilities:** $1077854.29

**Net Assets:** $53860902.57

**Cash Not Reported:** $233410.73

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000205842 | 0.90%                | -0.70%               | -5.04%               |
| Class ID C000205843 | 0.88%                | -0.74%               | -5.12%               |
| Class ID C000205844 | 0.94%                | -0.62%               | -5.08%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $687931.40                                 |
| Month 2  | $0.00                    | $-384200.00                                |
| Month 3  | $-0.02                   | $-2415461.20                               |

**Designated Index Information**

- **Index Name:** S&P 500 (TR)

- **Index Identifier:** 500TR

### Schedule of Portfolio Investments

| Name                      | Title                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| First American Funds Inc. | FRST AM-GV OB-X        | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   1092821 | PA      | $1092820.96   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust             | ISHARES-C S&P500       | CUSIP: 464287200<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     72000 | NS      | $47031120.00  | 87.32%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                       | SPX US 12/17/27 C7500  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        39 | NC      | $1454569.77   | 2.70%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                       | SPX US 12/17/27 C8500  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -39 | NC      | $-373495.18   | -0.69%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                       | SPX US 05/15/26 P6150  | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -34 | NC      | $-282183.92   | -0.52%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                       | SPX US 12/17/27 P6400  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |         4 | NC      | $202653.16    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                       | SPX US 12/17/27 P6900  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        31 | NC      | $2113611.98   | 3.92%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                       | SPX US 12/17/27 P7050  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        37 | NC      | $2750846.43   | 5.11%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                       | SPXW US 05/29/26 P5860 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -17 | NC      | $-101517.31   | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                       | VIX US 04/15/26 C23    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -400 | NC      | $-137500.30   | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                       | VIX US 04/15/26 C27    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |      -400 | NC      | $-80664.11    | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                       | VIX US 04/15/26 P20    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       400 | NC      | $10445.56     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                       | VIX US 04/15/26 P21.5  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       400 | NC      | $25743.26     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-28

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

**Signature:** Rich Gleason

**Name of Signer:** Rich Gleason

**Title:** Treasurer