# EDGAR Filing Document

**Accession Number:** 0001722388
**File Stem:** 0002000324-26-000697
**Filing Date:** 2026-2
**Character Count:** 9639
**Document Hash:** 0b96d8e70b2b0e667a04874eac1bc54a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-000697.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0002000324-26-000697

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**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:** 26693022

**BUSINESS ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET, SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53204
- **BUSINESS PHONE:** 4694428424

**MAIL ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET, SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53204

**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

### Ned Davis Research 360 Dynamic Allocation ETF (Series ID: S000088329)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000254581 | Ned Davis Research 360 Dynamic Allocation ETF | NDAA            |

## Nport-Ex

**Ned Davis Research 360° Dynamic Allocation ETF**

**Schedule of Investments**

**December 31, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**EXCHANGE TRADED FUNDS - 98.6%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 7643 | $149268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares Broad USD High Yield Corporate Bond ETF | 2555 | 95544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares Core MSCI EAFE ETF | 3362 | 300764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares Core MSCI Emerging Markets ETF | 5993 | 402849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares Core S&P Small-Cap ETF | 410 | 49274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares J.P. Morgan USD Emerging Markets Bond ETF | 1042 | 100324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard Growth ETF | 819 | 399557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard Intermediate-Term Corporate Bond ETF | 1141 | 95559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard S&P 500 ETF | 536 | 336142 |
|  |  | 1929281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL EXCHANGE TRADED FUNDS (Cost $1,702,922)** |  | 1929281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHORT-TERM INVESTMENTS - 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Money Market Funds - 1.4%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund - Class X, 3.67%<sup>(a)</sup> | 26617 | 26617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SHORT-TERM INVESTMENTS (Cost $26,617)** |  | 26617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 100.0% (Cost $1,729,539)** |  | $1955898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities in Excess of Other Assets - 0.0%<sup>(b)</sup> |  | (776) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  | $1955122 |

---

Percentages are stated as a percent of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(a) The rate shown represents the 7-day annualized effective yield as of December 31, 2025.

(b) Does not round to 0.1% or (0.1)%, as applicable.

## 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:** Ned Davis Research 360 Dynamic Allocation ETF

- **b. EDGAR series identifier (if any):** S000088329

- **c. LEI of Series:** 254900J8OGEV32AXPL67

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $1955966.69

**Total Liabilities:** $844.31

**Net Assets:** $1955122.38

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000254581 | 2.38%                | -0.12%               | 0.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5552.13                 | $40350.32                                  |
| Month 2  | $0.00                    | $-3095.87                                  |
| Month 3  | $1511.95                 | $-29144.77                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| abrdn Bloomberg All Commodity  | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | CUSIP: 003261104<br>LEI: 549300PWXO8WGDSMS419 | Long             | EC               | RF                | US        |      7643 | NS      | $149267.79    | 7.63%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Broad USD High Yield C | iShares Broad USD High Yield Corporate Bond ETF     | CUSIP: 46435U853<br>LEI: 549300X7H67ZLUE3IZ46 | Long             | EC               | RF                | US        |      2555 | NS      | $95544.23     | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core MSCI EAFE ETF     | iShares Core MSCI EAFE ETF                          | CUSIP: 46432F842<br>LEI: 5493009FT582MI7Y3I36 | Long             | EC               | RF                | US        |      3362 | NS      | $300764.52    | 15.38%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core MSCI Emerging Mar | iShares Core MSCI Emerging Markets ETF              | CUSIP: 46434G103<br>LEI: 5493007C24Z3ZDJ0VD06 | Long             | EC               | RF                | US        |      5993 | NS      | $402849.46    | 20.60%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core S&P Small-Cap ETF | iShares Core S&P Small-Cap ETF                      | CUSIP: 464287804<br>LEI: 549300BZQ17QYN750B25 | Long             | EC               | RF                | US        |       410 | NS      | $49273.80     | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares J.P. Morgan USD Emergi | iShares J.P. Morgan USD Emerging Markets Bond ETF   | CUSIP: 464288281<br>LEI: 54930070R8WH6MNUJG74 | Long             | EC               | RF                | US        |      1042 | NS      | $100323.76    | 5.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Growth ETF            | Vanguard Growth ETF                                 | CUSIP: 922908736<br>LEI: N/A                  | Long             | EC               | RF                | US        |       819 | NS      | $399557.34    | 20.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Intermediate-Term Cor | Vanguard Intermediate-Term Corporate Bond ETF       | CUSIP: 92206C870<br>LEI: N/A                  | Long             | EC               | RF                | US        |      1141 | NS      | $95558.75     | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard S&P 500 ETF           | Vanguard S&P 500 ETF                                | CUSIP: 922908363<br>LEI: N/A                  | Long             | EC               | RF                | US        |       536 | NS      | $336141.68    | 17.19%            |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund          | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |     26617 | NS      | $26617.10     | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

**Name of Applicant:** Tidal Trust III

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer