# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0000910472-25-000130
**Filing Date:** 2025-8
**Character Count:** 16825
**Document Hash:** c235cd787dd88d8ccb141d8897ca4acc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-000130.hdr.sgml**: 20250821

**ACCESSION NUMBER**: 0000910472-25-000130

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250821

**DATE AS OF CHANGE**: 20250821

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN LIGHTS FUND TRUST III
- **CENTRAL INDEX KEY:** 0001537140

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22655
- **FILM NUMBER:** 251239618

**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

### Issachar Fund (Series ID: S000044092)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000136884 | Issachar Fund Class N Shares | LIONX           |
| C000136885 | Issachar Fund Class I Shares | LIOTX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **ISSACHAR FUND** | **ISSACHAR FUND** | **ISSACHAR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.6%** |  |
|  | **AEROSPACE & DEFENSE - 4.6%** |  |
| 1000 | Elbit Systems Ltd. | &nbsp;&nbsp;&nbsp; $449500 |
|  | **BANKING - 3.1%** |  |
| 21300 | NatWest Group plc - ADR | &nbsp;&nbsp;&nbsp; 301395 |
|  | **BEVERAGES - 1.9%** |  |
| 4000 | Celsius Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 185560 |
|  | **ELECTRICAL EQUIPMENT - 15.2%** |  |
| 4600 | Amphenol Corporation, Class A | &nbsp;&nbsp;&nbsp; 454250 |
| 600 | GE Vernova, LLC | &nbsp;&nbsp;&nbsp; 317490 |
| 13800 | Mirion Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 297114 |
| 3200 | Vertiv Holdings Company, Class A | &nbsp;&nbsp;&nbsp; 410912 |
|  |  | &nbsp;&nbsp; 1479766 |
|  | **ENGINEERING & CONSTRUCTION - 13.4%** |  |
| 3600 | Construction Partners, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 382608 |
| 2300 | MasTec, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 391989 |
| 1400 | Quanta Services, Inc. | &nbsp;&nbsp;&nbsp; 529312 |
|  |  | &nbsp;&nbsp; 1303909 |
|  | **GAS & WATER UTILITIES - 2.0%** |  |
| 2300 | National Fuel Gas Company | &nbsp;&nbsp;&nbsp; 194833 |
|  | **HEALTH CARE FACILITIES & SERVICES - 1.9%** |  |
| 1200 | Ensign Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 185112 |
|  | **LEISURE FACILITIES & SERVICES - 6.7%** |  |
| 1500 | TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp; 272925 |
| 7200 | Viking Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 383688 |
|  |  | &nbsp;&nbsp; 656613 |
|  | **LEISURE PRODUCTS - 9.7%** |  |
| 7300 | Amer Sports, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 282948 |
| 800 | Axon Enterprise, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 662352 |
|  |  | &nbsp;&nbsp; 945300 |

---

---

| | | |
|:---|:---|:---|
| **ISSACHAR FUND** | **ISSACHAR FUND** | **ISSACHAR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.6% (Continued)** | |
|  | **SEMICONDUCTORS - 5.1%** | |
| 1800 | Broadcom, Inc. | &nbsp;&nbsp;&nbsp; $496170 |
|  | **SOFTWARE - 16.1%** |  |
| 1000 | CyberArk Software Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 406880 |
| 6100 | Hinge Health, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 315675 |
| 4900 | Palantir Technologies, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 667968 |
| 2000 | Q2 Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 187180 |
|  |  | &nbsp;&nbsp; 1577703 |
|  | **SPECIALTY FINANCE - 2.5%** |  |
| 900 | Dave, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 241569 |
|  | **STEEL - 2.6%** |  |
| 900 | Carpenter Technology Corporation | &nbsp;&nbsp;&nbsp; 248742 |
|  | **TECHNOLOGY HARDWARE - 6.7%** |  |
| 1600 | Celestica, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 249776 |
| 4400 | Credo Technology Group Holding Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 407396 |
|  |  | &nbsp;&nbsp; 657172 |
|  | **TECHNOLOGY SERVICES - 6.1%** |  |
| 8900 | Kyndryl Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 373444 |
| 10300 | Pagaya Technologies Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 219596 |
|  |  | &nbsp;&nbsp; 593040 |
|  | **TOTAL COMMON STOCKS (Cost $8,721,983)** | &nbsp;&nbsp; 9516384 |
|  | **SHORT-TERM INVESTMENT — 3.0%** |  |
|  | **MONEY MARKET FUND - 3.0%** |  |
| 288479 | Fidelity Investments Money Market Government Portfolio, Class I, 4.18%<sup>(b)</sup> (Cost $288,479) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288479 |
|  | **TOTAL INVESTMENTS - 100.6% (Cost $9,010,462)** | &nbsp;&nbsp;&nbsp; $9804863 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.6)%** | &nbsp;&nbsp; (54053) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $9750810 |

---

---

| |
|:---|
| **ISSACHAR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | |
|:---|:---|
| ADR | - American Depositary Receipt |
| LLC | - Limited Liability Company |
| LTD | - Limited Company |
| PLC | - Public Limited Company |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

## 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:** Issachar Fund

- **b. EDGAR series identifier (if any):** S000044092

- **c. LEI of Series:** 5493004R1DF84J8OSZ23

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $9830722.37

**Total Liabilities:** $79912.63

**Net Assets:** $9750809.74

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000136884 | -0.22%               | 2.49%                | 5.60%                |
| Class ID C000136885 | -0.21%               | 2.47%                | 5.66%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-17394.80               | $-7366.34                                  |
| Month 2  | $-145654.92              | $387731.21                                 |
| Month 3  | $192851.14               | $354708.59                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ensign Group Inc                   | ENSIGN GROUP INC | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |      1200 | NS      | $185112.00    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc          | PALANTIR TECHN-A | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      4900 | NS      | $667968.00    | 6.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co                 | VERTIV HOLDING-A | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      3200 | NS      | $410912.00    | 4.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group PLC                  | NATWEST GR-S ADR | CUSIP: 639057207<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |     21300 | NS      | $301395.00    | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Company          | NATL FUEL GAS CO | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |      2300 | NS      | $194833.00    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd | CREDO TECHNOLOGY | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      4400 | NS      | $407396.00    | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                | AXON ENTERPRISE  | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |       800 | NS      | $662352.00    | 6.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave Inc                           | DAVE INC         | CUSIP: 23834J201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       900 | NS      | $241569.00    | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Construction Partners Inc.         | CONSTRUCTION P-A | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               | CORP              | US        |      3600 | NS      | $382608.00    | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings Inc                    | Q2 HOLDINGS INC  | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |      2000 | NS      | $187180.00    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services, Inc.              | QUANTA SERVICES  | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |      1400 | NS      | $529312.00    | 5.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corporation               | AMPHENOL CORP-A  | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      4600 | NS      | $454250.00    | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Pagaya Technologies Ltd.           | PAGAYA TECHNOL-A | CUSIP: M7S64L123<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     10300 | NS      | $219596.00    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc            | MIRION TECHNOLOG | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |     13800 | NS      | $297114.00    | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TKO Group Holdings Inc.            | TKO GROUP HOLDIN | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1500 | NS      | $272925.00    | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cyberark Software Ltd.             | CYBERARK SOFTWAR | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      1000 | NS      | $406880.00    | 4.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings Inc.              | CELSIUS HOLDINGS | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4000 | NS      | $185560.00    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Holdings Ltd.               | VIKING HOLDINGS  | CUSIP: G93A5A101<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |      7200 | NS      | $383688.00    | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                       | BROADCOM INC     | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1800 | NS      | $496170.00    | 5.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Hinge Health, Inc.                 | HINGE HEALTH-A   | CUSIP: 433313103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6100 | NS      | $315675.00    | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Celestica Inc.                     | CELESTICA INC    | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | CA        |      1600 | NS      | $249776.00    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Elbit Systems Ltd                  | ELBIT SYSTEMS    | CUSIP: M3760D101<br>LEI: 529900Q9CB1REUMZSS32 | Long             | EC               | CORP              | IL        |      1000 | NS      | $449500.00    | 4.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Colchester Street Trust   | FID-MM GOVT-I    | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |    288479 | PA      | $288479.11    | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyndryl Holdings Inc               | KYNDRYL HOLDINGS | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | EC               | CORP              | US        |      8900 | NS      | $373444.00    | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastec, Inc.                       | MASTEC INC       | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |      2300 | NS      | $391989.00    | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc.                    | GE VERNOVA LLC   | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |       600 | NS      | $317490.00    | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corporation   | CARPENTER TECH   | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |       900 | NS      | $248742.00    | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Amer Sports Inc.                   | AMER SPORTS INC  | CUSIP: G0260P102<br>LEI: 391200YCSWTRD1J21867 | Long             | EC               | CORP              | KY        |      7300 | NS      | $282948.00    | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

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

**Signature:** Rich Gleason

**Name of Signer:** Rich Gleason

**Title:** Treasurer