# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0001752724-23-045508
**Filing Date:** 2023-2
**Character Count:** 8759
**Document Hash:** f866c4558de878cdb203ab7ac6269e05
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045508.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045508

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN LIGHTS FUND TRUST III
- **CENTRAL INDEX KEY:** 0001537140
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22655
- **FILM NUMBER:** 23680936

**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 U.S. Small Cap Fund (Series ID: S000051347)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000161880 | Swan Defined Risk U.S. Small Cap Fund Class A Shares | SDCAX           |
| C000161881 | Swan Defined Risk U.S. Small Cap Fund Class C Shares | SDCCX           |
| C000161882 | Swan Defined Risk U.S. Small Cap Fund Class I Shares | SDCIX           |

## 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 U.S. Small Cap Fund

- **b. EDGAR series identifier (if any):** S000051347

- **c. LEI of Series:** 549300D7QA0P3RGGT694

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $40019602.95

**Total Liabilities:** $1045581.64

**Net Assets:** $38974021.31

**Cash Not Reported:** $225660.15

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161882 | 5.41%                | -0.50%               | -3.94%               |
| Class ID C000161881 | 5.29%                | -0.61%               | -4.06%               |
| Class ID C000161880 | 5.42%                | -0.51%               | -4.01%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $3961845.40                                |
| Month 2  | $-481159.96              | $1308012.70                                |
| Month 3  | $-285188.02              | $-2382822.80                               |

**Designated Index Information**

- **Index Name:** Russell 2000

- **Index Identifier:** RU2000

### Schedule of Portfolio Investments

| Name          | Title                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A           | SPXW US 01/20/23 C4000   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        12 | NC      | $21192.50     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | SPXW US 12/30/22 P4060   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -24 | NC      | $-529200.00   | -1.36%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | SPXW US 01/20/23 P3600   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        12 | NC      | $15175.22     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | SPXW US 01/13/23 C3825   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -12 | NC      | $-90650.98    | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | RUT US 03/17/23 P1760    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        48 | NC      | $362501.54    | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | SPXW US 01/20/23 P3800   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -12 | NC      | $-68878.19    | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | RUT US 12/20/24 P1750    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       144 | NC      | $2710873.64   | 6.96%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | RUT US 03/17/23 P1500    | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -48 | NC      | $-60119.62    | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | SPXW US 12/30/22 C3860   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -24 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | SPXW US 12/30/22 P3660   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        24 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | SPXW US 01/13/23 P3625   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        12 | NC      | $11379.25     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | SPXW US 01/13/23 P3825   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -12 | NC      | $-69397.69    | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | SPXW US 01/13/23 C4025   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        12 | NC      | $9095.25      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Ishares Trust | ISHARES RUSSELL 2000 ETF | CUSIP: 464287655<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    192000 | NS      | $33477120.00  | 85.90%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A           | SPXW US 12/30/22 C4260   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |        24 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A           | SPXW US 01/20/23 C3800   | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | N/A       |       -12 | NC      | $-122744.32   | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-27

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

**Signature:** Brian Curley

**Name of Signer:** Brian Curley

**Title:** Treasurer