# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0001752724-23-030016
**Filing Date:** 2023-2
**Character Count:** 7717
**Document Hash:** 28f6387632598ef45736cb22f58e0a24
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-030016.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001752724-23-030016

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20230930

**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:** 23645793

**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

### Pinnacle Sherman Multi-Strategy Core Fund (Series ID: S000050600)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000159719 | Pinnacle Sherman Multi-Strategy Core Fund Class A | APSHX           |
| C000159720 | Pinnacle Sherman Multi-Strategy Core Fund Class C | CPSHX           |
| C000159721 | Pinnacle Sherman Multi-Strategy Core Fund Class I | IPSHX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **PINNACLE SHERMAN MULTI-STRATEGY CORE FUND** | **PINNACLE SHERMAN MULTI-STRATEGY CORE FUND** | **PINNACLE SHERMAN MULTI-STRATEGY CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **December 31, 2022** | **December 31, 2022** | **December 31, 2022** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 50.3%** |  |
|  | **EQUITY - 50.3%** |  |
| 26320 | iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp; $1727645 |
| 32015 | iShares S&P 500 Value ETF | &nbsp;&nbsp;&nbsp; 4644416 |
| 46040 | iShares S&P Mid-Cap 400 Value ETF | &nbsp;&nbsp;&nbsp; 4640832 |
| 13730 | iShares U.S. Basic Materials ETF | &nbsp;&nbsp;&nbsp; 1713092 |
| 13935 | SPDR Dow Jones Industrial Average ETF Trust | &nbsp;&nbsp;&nbsp; 4617084 |
|  |  | &nbsp;&nbsp; 17343069 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $17,016,742)** | &nbsp;&nbsp; 17343069 |
|  | **SHORT-TERM INVESTMENTS — 49.7%** |  |
|  | **MONEY MARKET FUND - 49.7%** |  |
| 17150763 | First American Government Obligations Fund, Class X, 4.08% (Cost $17,150,763)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 17150763 |
|  | **TOTAL INVESTMENTS - 100.0% (Cost $34,167,505)** | &nbsp;&nbsp;&nbsp; $34493832 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%** | &nbsp;&nbsp; (14505) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $34479327 |

---

---

| | | |
|:---|:---|:---|
| EAFE | - Europe, Australasia and Far East | - Europe, Australasia and Far East |
| ETF | - Exchange-Traded Fund | - Exchange-Traded Fund |
| MSCI | - Morgan Stanley Capital International | - Morgan Stanley Capital International |
| SPDR | - Standard & Poor's Depositary Receipt | - Standard & Poor's Depositary Receipt |
| <sup>(a)</sup> | <sup>(a)</sup> | Rate disclosed is the seven-day effective yield as of December 31, 2022. |

---

## 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:** Pinnacle Sherman Multi-Strategy Core Fund

- **b. EDGAR series identifier (if any):** S000050600

- **c. LEI of Series:** 549300C0TJBUH7KIHX42

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

- **a. Date of fiscal year-end:** 2023-09-30

- **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:** $34573170.79

**Total Liabilities:** $93843.98

**Net Assets:** $34479326.81

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000159719 | 1.58%                | 4.48%                | -5.41%               |
| Class ID C000159720 | 1.57%                | 4.42%                | -5.52%               |
| Class ID C000159721 | 1.66%                | 4.51%                | -5.42%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-46258.30               | $607599.22                                 |
| Month 2  | $-143.48                 | $1651583.12                                |
| Month 3  | $-240949.66              | $-1912165.55                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ishares Trust       | ISHARES U.S. BASIC MATERI | CUSIP: 464287838<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     13730 | NS      | $1713092.10   | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERN FDS INC | FRST AM-GV OB-X           | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |  17150763 | PA      | $17150763.16  | 49.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Trust       | ISHARES MSCI EAFE ETF     | CUSIP: 464287465<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     26320 | NS      | $1727644.80   | 5.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Spdr Dow Jones Ind  | SPDR DJIA TRUST           | CUSIP: 78467X109<br>LEI: 54930039F2SG3UG2OZ18 | Long             | EC               | RF                | US        |     13935 | NS      | $4617083.55   | 13.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Trust       | ISHARES S&P 500 VALUE ETF | CUSIP: 464287408<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     32015 | NS      | $4644416.05   | 13.47%            |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Trust       | ISHARES S&P MID-CAP 400 V | CUSIP: 464287705<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     46040 | NS      | $4640832.00   | 13.46%            |  |  |  | No            |                  1 | 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