QQH / Northern Lights Fund Trust III - HCM Defender 100 Index ETF - Depositi SEC, Relazione annuale, dichiarazione di delega

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ý Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) ý Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to §240.

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ý Filed by a Party other than the Registrant o Check the appropriate box: ý Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) o Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to §240.

As filed with the Securities and Exchange Commission on September 30, 2025

As filed with the Securities and Exchange Commission on September 30, 2025 Securities Act File No.

As filed with the Securities and Exchange Commission on September 30, 2025

As filed with the Securities and Exchange Commission on September 30, 2025 Securities Act File No.

As filed with the Securities and Exchange Commission on September 23, 2025

As filed with the Securities and Exchange Commission on September 23, 2025 Securities Act File No.

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ý Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) o Definitive Proxy Statement ý Definitive Additional Materials o Soliciting Material Pursuant to §240.

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ý Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) ý Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to §240.

April 24, 2025

April 24, 2025 VIA EDGAR TRANSMISSION Mr. Alberto Zapata Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F. Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III (the “Registrant” or the “Trust”) File Nos. 333-178833 and 811-22655 Dear Mr. Zapata: On February 12, 2025, the Registrant filed a proxy statement (the “Proxy Statement”) pursu

April 11, 2025

April 11, 2025 VIA EDGAR TRANSMISSION Mr. Alberto Zapata Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F. Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III (the “Registrant” or the “Trust”) File Nos. 333-178833 and 811-22655 Dear Mr. Zapata: On February 12, 2025, the Registrant filed a proxy statement (the “Proxy Statement”) pursu

EX-99.25

NOTIFICATION OF THE REMOVAL FROM LISTING AND REGISTRATION OF THE STATED SECURITIES NYSE Arca hereby notifies the SEC of its intention to remove the entire class of the stated securities from listing and registration on the Exchange at the opening of business on April 08, 2025, pursuant to the provisions of Rule 12d2-2 (a).

25-NSE

X0203 0001143362 NYSE ARCA, INC. 0001537140 NORTHERN LIGHTS FUND TRUST III 001-39079 225 Pictoria Drive Cincinnati OH OHIO 45246 PlanRock Market Neutral Income ETF 17 CFR 240.12d2-2(a)(3) Emily Fuhrman Senior Analyst, Regulation 2025-03-28

March 12, 2025

March 12, 2025 VIA EDGAR TRANSMISSION Mr. Alberto Zapata Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F. Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III (the “Registrant”) File Nos. 333-178833 and 811-22655 Dear Mr. Zapata: On February 12, 2025, the Registrant filed a proxy statement (the “Proxy Statement”) pursuant to Section

February 25, 2025

February 25, 2025 VIA EDGAR TRANSMISSION Mr. Alberto Zapata Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F. Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III (the “Registrant”) File Nos. 333-178833 and 811-22655 Dear Mr. Zapata: On February 12, 2025, the Registrant filed a proxy statement (the “Proxy Statement”) pursuant to Secti

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ý Filed by a Party other than the Registrant o Check the appropriate box: ý Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) o Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to §240.

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in this Registration Statement on Form N‐1A of our report dated May 30, 2023, relating to the financial statements and financial highlights of The Teberg Fund, a series of Northern Lights Fund Trust III, for the year ended March 31, 2023, and to the references to our firm under the headings “Financial Highlights” in the Prospectus and “Independent Registered Public Accounting Firm” and “Policies And Procedures For Disclosure of Portfolio Holdings” in the Statement of Additional Information.

Securities Act Registration No. 333-178833 Investment Company Act Registration No. 811-22655 As filed with the Securities and Exchange Commission on November 22, 2024 SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 REGISTRATION STATEMENT U

Securities Act Registration No. 333-178833 Investment Company Act Registration No. 811-22655 As filed with the Securities and Exchange Commission on November 22, 2024 SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ý ¨ Pre-Effective Amendment No. ý Post-Effective Amendment No. 620 and/or REGISTRATION STATEMENT UNDER THE INVESTMENT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 25

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 25 NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File Number: 333-178833 Northern Lights Fund Trust IIII/NYSE Arca, Inc. (Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered) 225

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 25

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 25 NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File Number: 333-178833 Northern Lights Fund Trust IIII/NYSE Arca, Inc. (Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered) 225

NYSE CERTIFICATION

New York Stock Exchange 11 Wall Street New York, NY 10005 Tel: +1 212.656.3000 nyse.com October 28, 2024 Chief, Information Technology Securities and Exchange Commission Division of Corporate Finance 100 F Street, NE MS 3040 Washington, DC 20549 To whom it may concern: The New York Stock Exchange certifies its approval for listing and registration of the Shares of beneficial interest, no par value

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Northern Lights Fund Trust III (Exact name of registrant as specified in its charter) Delaware See Below (State of incorporation or organization) (I.

Super Institutional

September 13, 2024 VIA EDGAR TRANSMISSION Seamus O’Brien, Esq. Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III, File Nos. 333-178833 and 811-22655 (“Registrant”) Dear Mr. O’Brien: On July 9, 2024, the Registrant, on behalf of its proposed series, ABS Insights Emerging Markets Fund,

$ 1,398,595,874

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2023 Shares Fair Value EXCHANGE-TRADED FUNDS — 15.

25-NSE

X0203 0001417835 Cboe BZX Exchange, Inc. 0001537140 NORTHERN LIGHTS FUND TRUST III 333-178833 225 Pictoria Drive Suite 450 Cincinnati OH OHIO 45246 402-895-1600 FPA Global Equity ETF (FPAG) 17 CFR 240.12d2-2(a)(3) Kyle Murray VP, Legal Head of Global Listings 2024-05-02

EX-99.25.EX-99.25

NOTIFICATION OF THE REMOVAL FROM LISTING AND REGISTRATION OF THE* STATED SECURITIES Cboe BZX Exchange, Inc.

Prospectus

April 29, 2024 VIA EDGAR TRANSMISSION Asen Parechkevov, Esq. Jaea Hahn, Esq. Securities and Exchange Commission Division of Investment Management 100 F Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III, File Nos. 333-178833 and 811-22655 (“Registrant”) Dear Mr. Parechkevov and Ms. Hahn: On February 29, 2024, the Registrant, on behalf of its series, CP High Yield Trend ETF

Statement of Additional Information

April 22, 2024 VIA EDGAR TRANSMISSION Jaea Hahn, Esq. Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III, File Nos. 333-178833 and 811-22655 (“Registrant”) Dear Ms. Hahn: On February 29, 2024, the Registrant, on behalf of its series, CP High Yield Trend ETF (to be renamed “Counterpoin

NOTICE OF ADJOURNMENT WE NEED YOUR HELP

FPA GLOBAL EQUITY ETF 11601 Wilshire Boulevard, Suite 1200 Los Angeles, California 90025 NOTICE OF ADJOURNMENT WE NEED YOUR HELP Dear Shareholder, We need your help.

The Board of Trustees recommends that shareholders vote FOR. PLEASE take a moment to cast your vote TODAY.

FPA GLOBAL EQUITY ETF 11601 Wilshire Boulevard, Suite 1200 Los Angeles, California 90025 REMINDER Dear Shareholder, The Special Meeting of Shareholders of your Fund, FPA Global Equity ETF (ticker: FPAG) is scheduled for March 18, 2024.

CBOE BZX CERTIFICATION

8050 Marshall Drive, Suite 120 › Lenexa, KS 66214 › cboe.com By Electronic Mail February 24, 2024 U.S. Securities and Exchange Commission Division of Corporation Finance 100 F Street, NE Washington, D.C. 20549 RE: Northern Lights Fund Trust III Issuer CIK: 0001537140 Issuer File Number: 333-178833 / 811-22655 Form Type: 8-A12B Filing Date: February 24, 2024 To Whom It May Concern: Please be advise

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Northern Lights Fund Trust III (Exact name of registrant as specified in its charter) Delaware See Below (State of incorporation or organization) (I.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Northern Lights Fund Trust III (Exact name of registrant as specified in its charter) Delaware See Below (State of incorporation or organization) (I.

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ý Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) ý Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to §240.

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ý Filed by a Party other than the Registrant o Check the appropriate box: ý Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) o Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to §240.

NYSE ARCA CERTIFICATION

New York Stock Exchange 11 Wall Street New York, NY 10005 Tel: +1 212.656.3000 nyse.com December 15, 2023 Chief, Information Technology Securities and Exchange Commission Division of Corporate Finance 100 F Street, NE MS 3040 Washington, DC 20549 To whom it may concern: The NYSE Arca certifies its approval for listing and registration of the following series of Northern Lights Fund Trust III, unde

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Northern Lights Fund Trust III (Exact name of registrant as specified in its charter) Delaware See Below (State of incorporation or organization) (I.

PlanRock Alternative Growth ETF (formerly, the “PlanRock Alternative Equity ETF”)

December 1, 2023 VIA EDGAR TRANSMISSION Alberto Zapata, Esq. Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III, File Nos. 333-178833 and 811-22655 (“Registrant”) Dear Mr. Zapata: On September 27, 2023, the Registrant, on behalf of its proposed series, PlanRock Equity ETF, PlanRock Al

NYSE ARCA CERTIFICATION

New York Stock Exchange 11 Wall Street New York, NY 10005 Tel: +1 212.656.3000 nyse.com November 27, 2023 Chief, Information Technology Securities and Exchange Commission Division of Corporate Finance 100 F Street, NE MS 3040 Washington, DC 20549 To whom it may concern: The NYSE Arca certifies its approval for listing and registration of the Shares of beneficial interest, no par value per share, o

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Northern Lights Fund Trust III (Exact name of registrant as specified in its charter) Delaware See Below (State of incorporation or organization) (I.

General

July 21, 2023 VIA EDGAR TRANSMISSION Jaea Hahn, Esq. Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III, File Nos. 333-178833 and 811-22655 (“Registrant”) Dear Ms. Hahn: On May 30, 2023, the Registrant, on behalf of its series, Newfound Risk Managed U.S. Growth Fund (to be renamed the

NORTHERN LIGHTS FUND TRUST I, II, III and Northern Lights Variable Trust

NORTHERN LIGHTS FUND TRUST I, II, III and Northern Lights Variable Trust James Colantino Treasurer Direct Telephone: (631) 470-2603 Fax: (631) 470-2701 E-mail: jcolantino@ultimusfundsolutions.

$ 1,064,668,488

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 4.

$ 1,077,628,290

NPORT-EX 2 hcmfundsnportex.htm HCM DYNAMIC INCOME FUNDNQ3.31.23 HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2023 Shares Fair Value COMMON STOCKS — 4.4% AUTOMOTIVE - 0.1% 5,151 Tesla, Inc.(a) $ 1,068,626 BEVERAGES - 0.2% 17,605 Brown-Forman Corporation, Class B 1,131,473 25,824 Monster Beverage Corporation(a) 1,394,754 2,526,227 BIOTECH & PHARMA - 0.1% 4,240 Amgen, Inc. 1

$ 1,077,628,290

HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2023 Shares Fair Value COMMON STOCKS — 4.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000076537 C000236512 C000236510 C000236511 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 HCM Dynamic Income Fund S000076537 549300KURG63HWXTKP17 2023-06-30 2023-03-31 N 151531609.

$ 264,010,643

NPORT-EX 2 hcm-etfnport.htm HCM DEFENDER 100 INDEX ETFNQ3.31.23 HCM DEFENDERS 100 INDEX ETF SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2023 Shares Fair Value COMMON STOCKS — 82.8% ADVERTISING & MARKETING - 0.2% 7,769 Trade Desk, Inc. (The), Class A(a) $ 473,210 AUTOMOTIVE - 3.4% 10,169 Rivian Automotive, Inc.(a) 157,416 42,771 Tesla, Inc.(a) 8,873,272 9,030,688 BEVERAGES - 2.2% 2,480 Coca-Cola

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000066141 C000213732 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 HCM Defender 100 Index ETF S000066141 5493009UVJWVJ3E1I465 2023-06-30 2023-03-31 N 274229435.

$ 1,077,628,290

HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2023 Shares Fair Value COMMON STOCKS — 4.

$ 1,077,628,290

NPORT-EX 2 hcmfundsnportex.htm HCM TACTICAL GROWTH FUNDNQ3.31.23 HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2023 Shares Fair Value COMMON STOCKS — 4.4% AUTOMOTIVE - 0.1% 5,151 Tesla, Inc.(a) $ 1,068,626 BEVERAGES - 0.2% 17,605 Brown-Forman Corporation, Class B 1,131,473 25,824 Monster Beverage Corporation(a) 1,394,754 2,526,227 BIOTECH & PHARMA - 0.1% 4,240 Amgen, Inc.

$ 264,010,643

NPORT-EX 2 hcm-etfnport.htm HCM DEFENDER 500 INDEX ETFNQ3.31.23 HCM DEFENDERS 100 INDEX ETF SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2023 Shares Fair Value COMMON STOCKS — 82.8% ADVERTISING & MARKETING - 0.2% 7,769 Trade Desk, Inc. (The), Class A(a) $ 473,210 AUTOMOTIVE - 3.4% 10,169 Rivian Automotive, Inc.(a) 157,416 42,771 Tesla, Inc.(a) 8,873,272 9,030,688 BEVERAGES - 2.2% 2,480 Coca-Cola

Prospectus

May 11, 2023 VIA EDGAR TRANSMISSION Scott Lee, Esq. Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III, File Nos. 333-178833 and 811-22655 (“Registrant”) Dear Mr. Lee: On February 22, 2023, the Registrant, on behalf of its proposed series, the Rondure New World Fund and the Rondure Ov

NOTICE OF ADJOURNMENT WE NEED YOUR HELP

ACM Dynamic Opportunity Fund ACM Tactical Income Fund 225 Pictoria Drive Suite 450 Cincinnati, Ohio 45246 NOTICE OF ADJOURNMENT WE NEED YOUR HELP Dear Valued Shareholder, We need your help.

IMPORTANT NOTICE

IMPORTANT NOTICE April 13, 2023 Dear Shareholder: We have been trying to contact you regarding an important matter pertaining to your investment in the ACM Dynamic Opportunity Fund / ACM Tactical Income Fund.

ACM Dynamic Opportunity Fund

ACM Dynamic Opportunity Fund ACM Tactical Income Fund 225 Pictoria Drive Suite 450 Cincinnati, Ohio 45246 Dear Valued Shareholder, Thank you for being an investor in ACM Dynamic Opportunity Fund and / or ACM Tactical Income Fund.

$ 27,912,859

RESQ DYNAMIC ALLOCATION FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 83.

$ 1,064,668,488

NPORT-EX 2 counterpointnportex.htm COUNTERPOINT FUNDS NPORT EX COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 4.5% FIXED INCOME - 4.5% 1,327,707 Invesco Senior Loan ETF $ 27,257,824 510,163 SPDR Blackstone Senior Loan ETF 20,865,667 TOTAL EXCHANGE-TRADED FUNDS (Cost $48,759,617) 48,123,491 OPEN END FUNDS — 90.3% FIX

$ 48,127,881

NEWFOUND RISK MANAGED US GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value COMMON STOCKS — 16.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000043339 C000134180 C000145675 C000134181 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 RESQ Strategic Income Fund S000043339 549300USY68742UVZC15 2023-09-30 2022-12-31 N 30401368.

$ 1,064,668,488

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 4.

Unrealized

NPORT-EX 2 centerstonenport.htm CENTERSTONE NQ 12.31.22 CENTERSTONE INVESTORS FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value COMMON STOCKS — 66.2% Bermuda - 0.8% 1,660,413 PAX Global Technology Ltd. $ 1,429,187 Canada - 4.1% 15,394 Franco-Nevada Corporation 2,100,972 497,052 Jaguar Mining, Inc.(a) 991,204 89,400 Quebecor, Inc., Class B(a) 1,994,077 55,809 TC Energy Co

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000061857 C000200261 C000200263 C000200262 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Counterpoint Tactical Municipal Fund S000061857 549300LJGKEK0W1KDQ73 2023-09-30 2022-12-31 N 193659467.

$ 29,698,295

THE TEBERG FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value COMMON STOCKS — 9.

Unrealized

NPORT-EX 2 centerstonenport.htm CENTERSTONE NQ 12.31.22 CENTERSTONE INVESTORS FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value COMMON STOCKS — 66.2% Bermuda - 0.8% 1,660,413 PAX Global Technology Ltd. $ 1,429,187 Canada - 4.1% 15,394 Franco-Nevada Corporation 2,100,972 497,052 Jaguar Mining, Inc.(a) 991,204 89,400 Quebecor, Inc., Class B(a) 1,994,077 55,809 TC Energy Co

$ 27,912,859

RESQ DYNAMIC ALLOCATION FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 83.

$ 1,064,668,488

NPORT-EX 2 counterpointnportex.htm COUNTERPOINT FUNDS NPORT EX COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 4.5% FIXED INCOME - 4.5% 1,327,707 Invesco Senior Loan ETF $ 27,257,824 510,163 SPDR Blackstone Senior Loan ETF 20,865,667 TOTAL EXCHANGE-TRADED FUNDS (Cost $48,759,617) 48,123,491 OPEN END FUNDS — 90.3% FIX

$ 37,702,601

NPORT-EX 2 persimmonnport.htm PERSIMMON NQ PERSIMMON LONG/SHORT FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value COMMON STOCKS — 84.9% ADVERTISING & MARKETING - 0.1% 383 Interpublic Group of Companies, Inc. (The) $ 12,758 230 Omnicom Group, Inc. 18,761 31,519 AEROSPACE & DEFENSE - 1.8% 558 Boeing Company(a) 106,293 240 General Dynamics Corporation 59,546 364 Howmet Aero

$ 23,446,851

ISSACHAR FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value SHORT-TERM INVESTMENTS — 100.

$ 28,165,769

FPA GLOBAL EQUITY ETF SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value COMMON STOCKS — 96.

$ 30,019,644

NPORT-EX 2 absolutenport.htm ABSOLUTE PART F ABSOLUTE CAPITAL ASSET ALLOCATOR FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value COMMON STOCKS — 17.5% ASSET MANAGEMENT - 0.6% 2,100 Charles Schwab Corporation (The) $ 174,846 BEVERAGES - 2.7% 900 Constellation Brands, Inc., Class A 208,575 3,300 PepsiCo, Inc. 596,178 804,753 COMMERCIAL SUPPORT SERVICES - 1.2% 800 Cintas Cor

$ 30,019,644

NPORT-EX 2 absolutenport.htm ABSOLUTE PART F ABSOLUTE CAPITAL ASSET ALLOCATOR FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value COMMON STOCKS — 17.5% ASSET MANAGEMENT - 0.6% 2,100 Charles Schwab Corporation (The) $ 174,846 BEVERAGES - 2.7% 900 Constellation Brands, Inc., Class A 208,575 3,300 PepsiCo, Inc. 596,178 804,753 COMMERCIAL SUPPORT SERVICES - 1.2% 800 Cintas Cor

Dear Sir/Madam:

February 21, 2023 Securities & Exchange Commission Public Filing Desk 100 F Street, N.

$ 125,384,028

THE COVERED BRIDGE FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value COMMON STOCKS — 91.

$ 34,479,327

PINNACLE SHERMAN MULTI-STRATEGY CORE FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 50.

$ 79,951,603

ACM DYNAMIC OPPORTUNITY FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value COMMON STOCKS — 18.

Marathon Value Portfolio

Re: Marathon Value Portfolio Dear Shareholder: We have tried unsuccessfully to contact you, whether by mail or phone, regarding a very important matter concerning your investment with Marathon Value Portfolio.

$ 895,244,821

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 84.

$ 895,244,821

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 84.

$ 895,244,821

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 84.

$ 895,244,821

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 84.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000047421 C000148875 C000148877 C000148876 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Swan Defined Risk Emerging Markets Fund S000047421 5493003KBENC05ON4423 2023-06-30 2022-09-30 N 29683638.

$ 895,244,821

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 84.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000054112 C000170095 C000170093 C000170092 C000170094 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Boyd Watterson Limited Duration Enhanced Income Fund S000054112 5493005USN7GWT7DQP89 2023-06-30 2022-09-30 N 358213979.

RETAIL - DISCRETIONARY

NPORT-EX 2 boydnport.htm BOYD 9.30 NQ BOYD WATTERSON LIMITED DURATION ENHANCED INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Coupon Rate (%) Maturity Fair Value PREFERRED STOCKS — 1.8% ASSET MANAGEMENT — 0.6% 120,000 Charles Schwab Corporation (The) - Series J 1.1130 06/01/26 $ 2,288,400 BANKING — 1.2% 117,000 Huntington Bancshares, Inc. - Series H 1.1250 04/15/26 2,106

SWAN DEFINED RISK FUND

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 84.

$ 988,834,349

HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value COMMON STOCKS — 1.

SWAN DEFINED RISK FUND

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 84.

$ 988,834,349

NPORT-EX 2 hcmnportex.htm HCM DIVIDEND SECTOR PLUS FUND NQ9.30.2022 HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value COMMON STOCKS — 1.9% ADVERTISING & MARKETING - 0.1% 10,598 Omnicom Group, Inc. $ 668,628 BEVERAGES - 0.1% 7,197 Monster Beverage Corporation(a) 625,851 E-COMMERCE DISCRETIONARY - 0.0%(b) 12,335 eBay, Inc. 454,051 HOME CONSTRUCTION - 0

$ 988,834,349

HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value COMMON STOCKS — 1.

$ 241,805,527

NPORT-EX 2 hcmetfsnportex.htm HCM DEFENDER 500 INDEX ETF NQ9.30.2022 HCM DEFENDERS 100 INDEX ETF SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value COMMON STOCKS — 37.1% ADVERTISING & MARKETING - 0.1% 3,299 Trade Desk, Inc. (The), Class A(a) $ 197,115 AUTOMOTIVE - 2.1% 3,929 Lucid Group, Inc.(a) 54,888 3,477 Rivian Automotive, Inc.(a) 114,428 18,714 Tesla, Inc.(a) 4,963,889 5

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000045942 C000143207 C000143210 C000143208 C000143209 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 HCM Tactical Growth Fund S000045942 549300LA1LOGG3IG6P44 2023-06-30 2022-09-30 N 990454181.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000076537 C000236512 C000236510 C000236511 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 HCM Dynamic Income Fund S000076537 549300KURG63HWXTKP17 2023-06-30 2022-09-30 N 130255671.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000051347 C000161882 C000161881 C000161880 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Swan Defined Risk U.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000055429 C000174413 C000174412 C000213465 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 HCM Income Plus Fund S000055429 549300QP7W4NFIHVBZ35 2023-06-30 2022-09-30 N 591727394.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000067284 C000216396 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 CP High Yield Trend ETF S000067284 5493006HH8Z3PX8JNW39 2022-12-31 2022-09-30 N 7419302.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000063531 C000205844 C000205842 C000205843 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Swan Defined Risk Growth Fund S000063531 5493006NNX4MJZUY5E83 2023-06-30 2022-09-30 N 105328917.

SWAN DEFINED RISK FUND

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 84.

SWAN DEFINED RISK FUND

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 84.

$ 988,834,349

HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value COMMON STOCKS — 1.

$ 241,805,527

NPORT-EX 2 hcmetfsnportex.htm HCM DEFENDER 100 INDEX ETFNQ9.30.2022 HCM DEFENDERS 100 INDEX ETF SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value COMMON STOCKS — 37.1% ADVERTISING & MARKETING - 0.1% 3,299 Trade Desk, Inc. (The), Class A(a) $ 197,115 AUTOMOTIVE - 2.1% 3,929 Lucid Group, Inc.(a) 54,888 3,477 Rivian Automotive, Inc.(a) 114,428 18,714 Tesla, Inc.(a) 4,963,889 5,

SWAN DEFINED RISK FUND

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 84.

$ 7,377,236

NPORT-EX 2 cphighyieldnportex.htm CP HIGH YIELD TREND ETF NPORT EX CP HIGH YIELD TREND ETF SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 99.0% FIXED INCOME - 99.0% 63,903 iShares 3-7 Year Treasury Bond ETF $ 7,302,835 TOTAL EXCHANGE-TRADED FUNDS (Cost $7,971,778) 7,302,835 TOTAL INVESTMENTS - 99.0% (Cost $7,971,778) $ 7,302,835 OTHER ASSETS IN EXC

$ 79,951,603

ACM DYNAMIC OPPORTUNITY FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value COMMON STOCKS — 18.

$ 49,102,968

+6 ACM TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 18.

Guided by value.

Guided by value. November 8, 2022 SHAREHOLDER NAME ADDRESS 1 ADDRESS 2 Re: Conversion of MVPFX mutual fund to Kovitz Core Equity ETF (EQTY) Dear Shareholder, This communication is being delivered to you as a follow-up to our communication from August 30, 2022. As a reminder, you are a direct shareholder of Marathon Value Portfolio (?MVPFX?). Kovitz Investment Group Partners, LLC (?Kovitz?) serves

NORTHERN LIGHTS FUND TRUST I, II, III, IV and Northern Lights Variable Trust

CORRESP 1 filename1.htm NORTHERN LIGHTS FUND TRUST I, II, III, IV and Northern Lights Variable Trust James Colantino Treasurer Direct Telephone: (631) 470-2603 Fax: (631) 470-2701 E-mail: [email protected] October 10, 2022 VIA EDGAR (Correspondence Filing) U.S. Securities and Exchange Commission Division of Investment Management – Office of the Chief Accountant 100 F Street, NE W

August 30, 2022

Guided by value. August 30, 2022 Re: Conversion of MVPFX mutual fund to Kovitz Core Equity ETF (EQTY) Dear Shareholder, This communication is being delivered to you because you are a direct shareholder of Marathon Value Portfolio (?MVPFX?). Kovitz Investment Group Partners, LLC (?Kovitz?) serves as advisor to MVPFX and has filed a Form N-14 Registration Statement to the Securities and Exchange Com

$ 55,798,150

NEWFOUND RISK MANAGED US GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value COMMON STOCKS — 15.

U.S. Dollar Value at June 30, 2022

CENTERSTONE INVESTORS FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value COMMON STOCKS — 80.

U.S. Dollar Value at June 30, 2022

CENTERSTONE INVESTORS FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value COMMON STOCKS — 80.

Maturity

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 11.

$ 39,238,188

PERSIMMON LONG/SHORT FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value COMMON STOCKS — 80.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000039332 C000121227 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Persimmon Long/Short Fund S000039332 549300FUXDUHJZGIMH54 2022-09-30 2022-06-30 N 39465165.

Maturity

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 11.

$ 29,956,640

THE TEBERG FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value COMMON STOCKS — 8.

NPORT-EX

ISSACHAR FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value SHORT-TERM INVESTMENTS — 100.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000043339 C000134180 C000145675 C000134181 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 RESQ Strategic Income Fund S000043339 549300USY68742UVZC15 2022-09-30 2022-06-30 N 25744518.

$ 26,162,849

RESQ DYNAMIC ALLOCATION FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 97.

$ 26,162,849

RESQ DYNAMIC ALLOCATION FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 97.

Maturity

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 11.

$ 26,597,625

ABSOLUTE CAPITAL ASSET ALLOCATOR FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value COMMON STOCKS — 8.

$ 45,481,096

Origi MARATHON VALUE PORTFOLIO SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value COMMON STOCKS — 99.

$ 18,808,774

FPA GLOBAL EQUITY ETF SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value COMMON STOCKS — 96.

$ 26,597,625

ABSOLUTE CAPITAL ASSET ALLOCATOR FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value COMMON STOCKS — 8.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000050600 C000159719 C000159720 C000159721 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Pinnacle Sherman Multi-Strategy Core Fund S000050600 549300C0TJBUH7KIHX42 2022-09-30 2022-06-30 N 37989076.

THE COVERED BRIDGE FUND

THE COVERED BRIDGE FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value COMMON STOCKS — 97.

$ 37,939,321

PINNACLE SHERMAN MULTI-STRATEGY CORE FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 49.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000041869 C000129981 C000129983 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 The Covered Bridge Fund S000041869 549300JJPYRG5UTEFL50 2022-09-30 2022-06-30 N 111436251.

Prospectus

June 7, 2022 VIA EDGAR TRANSMISSION Mr. Timothy Worthington Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F. Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III (the “Registrant”), File Nos. 333-178833 and 811-22655 Dear Mr. Worthington: On March 31, 2022, the Registrant, on behalf of its series, HCM Dynamic Income Fund (the “Fund”)

$ 370,572,529

NPORT-EX 2 boydnport.htm BOYD NQ 3.31.22 BOYD WATTERSON LIMITED DURATION ENHANCED INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Coupon Rate (%) Maturity Fair Value PREFERRED STOCKS — 2.1% ASSET MANAGEMENT - 0.7% 120,000 Charles Schwab Corporation (The) - Series J 1.1130 06/01/26 $ 2,745,600 BANKING - 1.4% 117,000 Huntington Bancshares Inc - Series B 1.1250 04/15/26 2,447,64

$ 9,577,956

NPORT-EX 2 cphighyieldnport.htm CP HIGH YIELD TREND ETF NPORT EX CP HIGH YIELD TREND ETF SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 99.6% FIXED INCOME - 99.6% 78,126 iShares 3-7 Year Treasury Bond ETF $ 9,535,278 TOTAL EXCHANGE-TRADED FUNDS (Cost $9,915,536) 9,535,278 TOTAL INVESTMENTS - 99.6% (Cost $9,915,536) $ 9,535,278 OTHER ASSETS IN EXCESS OF

$ 1,107,233,567

NPORT-EX 2 swanfundsnport.htm SWAN FUNDS NPORT EX SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 88.6% EQUITY - 88.6% 1,119,935 Communication Services Select Sector SPDR Fund(a) $ 77,029,129 530,328 Consumer Discretionary Select Sector SPDR Fund(a) 98,110,680 653,661 Consumer Staples Select Sector SPDR Fund(a) 49,606,333 410,386

$ 58,416,645

+6 ACM TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value CLOSED END FUNDS — 1.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000047794 C000150165 C000150164 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 ACM Dynamic Opportunity Fund S000047794 549300VVC0FY4C5RS064 2022-12-31 2022-03-31 N 97752028.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000037505 C000115778 C000115777 C000115779 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Swan Defined Risk Fund S000037505 549300A86W0U1NC10X11 2022-06-30 2022-03-31 N 1167734471.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000063531 C000205844 C000205842 C000205843 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Swan Defined Risk Growth Fund S000063531 5493006NNX4MJZUY5E83 2022-06-30 2022-03-31 N 128717474.

$ 1,107,233,567

NPORT-EX 2 swanfundsnport.htm SWAN FUNDS NPORT EX SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 88.6% EQUITY - 88.6% 1,119,935 Communication Services Select Sector SPDR Fund(a) $ 77,029,129 530,328 Consumer Discretionary Select Sector SPDR Fund(a) 98,110,680 653,661 Consumer Staples Select Sector SPDR Fund(a) 49,606,333 410,386

$ 1,107,233,567

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 88.

$ 1,107,233,567

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 88.

$ 1,107,233,567

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value EXCHANGE-TRADED FUNDS — 88.

$ 95,316,104

ACM DYNAMIC OPPORTUNITY FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value COMMON STOCKS — 44.

$ 344,412,685

HCM DEFENDERS 100 INDEX ETF SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value COMMON STOCKS — 79.

$ 344,412,685

HCM DEFENDERS 100 INDEX ETF SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value COMMON STOCKS — 79.

$ 1,230,715,937

HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value COMMON STOCKS — 2.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000045942 C000143207 C000143210 C000143208 C000143209 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 HCM Tactical Growth Fund S000045942 549300LA1LOGG3IG6P44 2022-06-30 2022-03-31 N 1292347517.

$ 1,230,715,937

HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value COMMON STOCKS — 2.

$ 1,230,715,937

HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2022 Shares Fair Value COMMON STOCKS — 2.

Prospectus

April 19, 2022 VIA EDGAR TRANSMISSION Mr. Timothy Worthington Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F. Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III (the ?Registrant?), File Nos. 333-178833 and 811-22655 Dear Mr. Worthington: On February 25, 2022, the Registrant, on behalf of its series, CP High Yield Trend ETF (the ?F

Dear Sir/Madam:

March 31, 2022 Securities & Exchange Commission Public Filing Desk 100 F Street, N.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000070943 C000225288 C000225287 C000225289 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Centerstone International Fund S000070943 549300PRXIY5NZQZVH68 2022-03-31 2021-12-31 N 49561339.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000070944 C000225291 C000225290 C000225292 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Centerstone Investors Fund S000070944 549300R9DE3EXDTJAQ66 2022-03-31 2021-12-31 N 299899426.

$ 44,136,159

PERSIMMON LONG/SHORT FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 89.

$ 8,731,442

PINNACLE SHERMAN BREAKAWAY STRATEGY FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 51.

$ 132,682

NEWFOUND RISK MANAGED US GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 15.

$ 8,731,442

PINNACLE SHERMAN BREAKAWAY STRATEGY FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 51.

$ 1,663,892

CENTERSTONE INVESTORS FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 78.

GOOD HARBOR NQ

GOOD HARBOR TACTICAL SELECT FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 99.

$ 1,663,892

CENTERSTONE INVESTORS FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 78.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000046171 C000144436 C000147984 C000147983 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Good Harbor Tactical Select Fund S000046171 549300S8DGB8F2LX5W22 2022-09-30 2021-12-31 N 20263729.

$ 842,112,289

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 10.

$ 842,112,289

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 10.

$ 4,018,706

TEBERG FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 6.

$ 842,112,289

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 10.

$ 34,296,076

RESQ DYNAMIC ALLOCATION FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 76.

$ 34,296,076

RESQ DYNAMIC ALLOCATION FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 76.

Dear Sir/Madam:

CORRESP 23 filename23.htm February 25, 2022 Securities & Exchange Commission Public Filing Desk 100 F Street, N.E. Washington, DC 20549 Re: Northern Lights Fund Trust III, File Nos. 333-178833 and 811-22655 Dear Sir/Madam: On behalf of Northern Lights Fund Trust III, a registered investment company (the “Trust”), we hereby submit, via electronic filing, Post-Effective Amendment No. 540 (the “Amend

$ 503,190

MARATHON VALUE PORTFOLIO SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 99.

$ 24,889,791

ISSACHAR FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 34.

ABSOLUTE EX

ABSOLUTE CAPITAL ASSET ALLOCATOR FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 22.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000051216 C000161388 C000161389 C000161387 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Absolute Capital Defender Fund S000051216 5493001IKPBKJOOLYY67 2022-09-30 2021-12-31 N 24150239.

$ 27,246

FPA GLOBAL EQUITY ETF SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 96.

ABSOLUTE EX

ABSOLUTE CAPITAL ASSET ALLOCATOR FUND SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 22.

$ 2,315,040

THE COVERED BRIDGE FUND PORTFOLIO OF INVESTMENTS (Unaudited) December 31, 2021 Shares Fair Value COMMON STOCKS — 95.

CBOE BZX CERTIFICATION

(xxxii) Investment Advisory Agreement between First Pacific Advisors, LP and Registrant, with respect to the FPA Global Equity ETF as previously filed on December 16, 2021 to the Registrant’s Registration Statement in Post-Effective Amendment No. 529, and hereby incorporated by reference.

INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS FUND TRUST III and FIRST PACIFIC ADVISORS, LP This AGREEMENT is made as of December 14, 2021 between NORTHERN LIGHTS FUND TRUST III, a Delaware statutory trust (the ?Trust?), and First Pacific Advisors, LP, a Delaware Limited Partnership (the ?Adviser?) located at 11601 Wilshire Boulevard, Suite 1200, Los Angeles, CA 90025.

Securities Act Registration No. 333-178833 Investment Company Act Registration No. 811-22655 As filed with the Securities and Exchange Commission on December 16, 2021 SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 REGISTRATION STATEMENT U

Securities Act Registration No. 333-178833 Investment Company Act Registration No. 811-22655 As filed with the Securities and Exchange Commission on December 16, 2021 SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ? ? Pre-Effective Amendment No. ? Post-Effective Amendment No. 529 and/or REGISTRATION STATEMENT UNDER THE INVESTMENT

(xxxii) Expense Limitation Agreement between First Pacific Advisors, LP and Registrant, with respect to the FPA Global Equity ETF as previously filed on December 16, 2021 to the Registrant’s Registration Statement in Post-Effective Amendment No. 529, and hereby incorporated by reference.

EX-99.H OTH MAT CONT 4 ex99hxxxii.htm NORTHERN LIGHTS FUND TRUST III OPERATING EXPENSES LIMITATION AND SECURITY AGREEMENT FIRST PACIFIC ADVISORS, LP THIS OPERATING EXPENSES LIMITATION AND SECURITY AGREEMENT (the “Agreement”) is made as of the 21st day of October, 2021, by and between NORTHERN LIGHTS FUND TRUST III, a Delaware statutory trust (the “Trust”), on behalf of FPA Global Equity ETF (the “

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Northern Lights Fund Trust III (Exact name of registrant as specified in its charter) Delaware See Below (State of incorporation or organization) (I.

Prospectus

December 6, 2021 VIA EDGAR TRANSMISSION Mr. Alberto Zapata Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F. Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III (the ?Registrant?), File Nos. 333-178833 and 811-22655 Dear Mr. Zapata: On September 30, 2021, the Registrant, on behalf of its proposed series, FPA Global Equity ETF (the ?F

$ 6,633,000

BOYD WATTERSON LIMITED DURATION ENHANCED INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 1.

$ 1,406,000

ACM DYNAMIC OPPORTUNITY FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value COMMON STOCKS — 71.

$ 1,406,000

ACM DYNAMIC OPPORTUNITY FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value COMMON STOCKS — 71.

$ 1,824,480

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 90.

$ 281,661,713

HCM DEFENDERS 100 INDEX ETF SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value COMMON STOCKS — 80.

NPORT-P

NPORT-P false 0001537140 XXXXXXXX S000051346 C000161877 C000161878 C000205839 C000161879 NORTHERN LIGHTS FUND TRUST III 811-22655 0001537140 549300PPUECJSQFBYV98 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 Swan Defined Risk Foreign Fund S000051346 549300J8IYC07H3Z9U52 2022-06-30 2021-09-30 N 34576532.

$ 281,661,713

HCM DEFENDERS 100 INDEX ETF SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value COMMON STOCKS — 80.

$ 1,824,480

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 90.

$ 1,047,958,438

HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value COMMON STOCKS — 5.

$ 1,824,480

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 90.

$ 1,047,958,438

HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value COMMON STOCKS — 5.

$ 9,039,071

CP HIGH YIELD TREND ETF SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 100.

$ 1,824,480

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 90.

$ 1,824,480

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 90.

$ 1,047,958,438

HCM TACTICAL GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2021 Shares Fair Value COMMON STOCKS — 5.

Comments Related to Changes to Investment Strategy

October 12, 2021 VIA EDGAR TRANSMISSION Mr. Alberto Zapata Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F. Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III (the ?Registrant?), File Nos. 333-178833 and 811-22655 Dear Mr. Zapata: On August 4, 2021, the Registrant, on behalf of its series, Pinnacle TrendRating Innovative Equity Fun

Dear Sir/Madam:

September 30, 2021 Securities & Exchange Commission Public Filing Desk 100 F Street, N.

NORTHERN LIGHTS FUND TRUST III

NORTHERN LIGHTS FUND TRUST III James Colantino Assistant Treasurer Direct Telephone: (631) 470-2603 Fax: (631) 470-2701 E-mail: jim.

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ? Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) ? Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to ?240.

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ? Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) ? Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to ?240.

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ? Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) ? Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to ?240.

Since Inception

August 31, 2021 VIA EDGAR TRANSMISSION Mr. Alberto H. Zapata Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F. Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III (the ?Registrant?) File Nos. 333-178833 and 811-22655 Dear Mr. Zapata: On August 12, 2021, the Registrant filed a proxy statement (the ?Proxy Statement?) pursuant to Sectio

COUNTERPOINT TACTICAL EQUITY FUND

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 12.

COUNTERPOINT TACTICAL EQUITY FUND

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 12.

COUNTERPOINT TACTICAL EQUITY FUND

COUNTERPOINT TACTICAL INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 12.

$ 300,953,354

CENTERSTONE INVESTORS FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCKS — 75.

$ 300,953,354

CENTERSTONE INVESTORS FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCKS — 75.

$ 37,609,473

PERSIMMON LONG/SHORT FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCKS — 94.

$ 38,085,728

TEBERG FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCKS — 6.

Fidelity Government Money Market Portfolio, Institutional Class,

NEWFOUND RISK MANAGED US GROWTH FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCKS — 15.

ABSOLUTE FUNDS

ABSOLUTE CAPITAL ASSET ALLOCATOR FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCKS — 5.

ABSOLUTE FUNDS

ABSOLUTE CAPITAL ASSET ALLOCATOR FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCKS — 5.

$ 39,425,305

RESQ DYNAMIC ALLOCATION FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 97.

$ 39,425,305

RESQ DYNAMIC ALLOCATION FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 97.

$ 6,978,560

PINNACLE TRENDRATING INNOVATIVE EQUITY FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCKS — 97.

GOOD HARBOR NPORT

GOOD HARBOR TACTICAL SELECT FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 99.

$ 6,978,560

PINNACLE TRENDRATING INNOVATIVE EQUITY FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCKS — 97.

ISSACHAR N-PORT EX

ISSACHAR FUND PORTFOLIO OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCK - 99.

$ 463,900

MARATHON VALUE PORTFOLIO SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCKS — 99.

$ 1,489,560

THE COVERED BRIDGE FUND SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2021 Shares Fair Value COMMON STOCKS — 95.

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ? Filed by a Party other than the Registrant o Check the appropriate box: ? Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) o Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to ?240.

August 12, 2021

August 12, 2021 VIA ELECTRONIC TRANSMISSION Securities & Exchange Commission Public Filing Desk 100 F Street, N.

August 11, 2021

August 11, 2021 VIA EDGAR TRANSMISSION Mr. Alberto H. Zapata Senior Counsel Securities and Exchange Commission Division of Investment Management 100 F. Street, N.E. Washington, D.C. 20549-0506 Re: Northern Lights Fund Trust III (the ?Registrant?) File Nos. 333-178833 and 811-22655 Dear Mr. Zapata: On August 4, 2021, the Registrant filed a proxy statement (the ?Proxy Statement?) pursuant to Section

August 4, 2021

August 4, 2021 VIA ELECTRONIC TRANSMISSION Securities & Exchange Commission Public Filing Desk 100 F Street, N.

Dear Sir/Madam:

August 4, 2021 Securities & Exchange Commission Public Filing Desk 100 F Street, N.

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ý Filed by a Party other than the Registrant o Check the appropriate box: ý Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) o Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to §240.

SWAN DEFINED RISK FUND

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 90.

SWAN DEFINED RISK FUND

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 90.

ACM TACTICAL INCOME FUND

ACM DYNAMIC OPPORTUNITY FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value COMMON STOCKS — 67.

$ 11,413,772

CP HIGH YIELD TREND ETF SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS - 99.

SWAN DEFINED RISK FUND

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 90.

ACM TACTICAL INCOME FUND

ACM DYNAMIC OPPORTUNITY FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value COMMON STOCKS — 67.

SWAN DEFINED RISK FUND

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 90.

SWAN DEFINED RISK FUND

SWAN DEFINED RISK FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 90.

HCM Tactical Growth Fund

HCM Tactical Growth Fund PORTFOLIO OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value COMMON STOCKS - 3.

HCM Tactical Growth Fund

HCM Tactical Growth Fund PORTFOLIO OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value COMMON STOCKS - 3.

HCM Tactical Growth Fund

HCM Tactical Growth Fund PORTFOLIO OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value COMMON STOCKS - 3.

HCM Defender 100 Index ETF

HCM Defender 100 Index ETF PORTFOLIO OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value COMMON STOCKS - 80.

BOYD WATTERSON LIMITED DURATION ENHANCED INCOME FUND

BOYD WATTERSON LIMITED DURATION ENHANCED INCOME FUND SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value EXCHANGE-TRADED FUNDS — 0.

HCM Defender 100 Index ETF

HCM Defender 100 Index ETF PORTFOLIO OF INVESTMENTS (Unaudited) March 31, 2021 Shares Fair Value COMMON STOCKS - 80.

- DEF 14A

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ? Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) ? Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to ?240.

NORTHERN LIGHTS FUND TRUST I, II, III and IV

NORTHERN LIGHTS FUND TRUST I, II, III and IV James Colantino Treasurer Direct Telephone: (631) 470-2603 Fax: (631) 470-2701 E-mail: jcolantino@ultimusfundsolutions.

- DEF 14A

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ? Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) ? Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to ?240.

- PRE 14A

SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ? Filed by a Party other than the Registrant o Check the appropriate box: ? Preliminary Proxy Statement o Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) o Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to ?240.

NEWFOUND NQ 12.31.20

Newfound Risk Managed U.S. Sectors Fund SCHEDULE OF INVESTMENTS (Unaudited) December 31, 2020 Shares Fair Value EXCHANGE TRADED FUNDS - 64.8 % EQUITY FUNDS - 64.8 % 85,022 Fidelity Momentum Factor ETF (a) $3,758,823 23,383 iShares MSCI USA Momentum Factor ETF 3,771,444 7,971 iShares MSCI USA Quality Factor ETF 926,310 97,159 JPMorgan US Momentum Factor 3,777,542 34,303 SPDR S&P 500 ETF Trust 12,82

PERSIMMON LONG/SHORT N-PORT EX

Persimmon Long/Short Fund PORTFOLIO OF INVESTMENTS (Unaudited) December 31, 2020 Shares Fair Value COMMON STOCK - 88.

The following is a summary of significant accounting policies followed by the Funds in preparation of their financial statements. These policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

RESQ Dynamic Allocation Fund PORTFOLIO OF INVESTMENTS (Unaudited) December 31, 2020 Shares Fair Value EXCHANGE TRADED FUNDS - 81.

COUNTERPOINT TACTICAL EQUITY FUND

COUNTERPOINT TACTICAL INCOME FUND PORTFOLIO OF INVESTMENTS (Unaudited) December 31, 2020 Shares Fair Value EXCHANGE TRADED FUND - 12.

COUNTERPOINT TACTICAL EQUITY FUND

COUNTERPOINT TACTICAL INCOME FUND PORTFOLIO OF INVESTMENTS (Unaudited) December 31, 2020 Shares Fair Value EXCHANGE TRADED FUND - 12.

COUNTERPOINT TACTICAL EQUITY FUND

COUNTERPOINT TACTICAL INCOME FUND PORTFOLIO OF INVESTMENTS (Unaudited) December 31, 2020 Shares Fair Value EXCHANGE TRADED FUND - 12.

The following is a summary of significant accounting policies followed by the Funds in preparation of their financial statements. These policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

RESQ Dynamic Allocation Fund PORTFOLIO OF INVESTMENTS (Unaudited) December 31, 2020 Shares Fair Value EXCHANGE TRADED FUNDS - 81.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determin

The Teberg Fund Schedule of Investments (Unaudited) at December 31, 2020 Shares Fair Value COMMON STOCK - 6.

COUNTERPOINT TACTICAL EQUITY FUND

COUNTERPOINT TACTICAL INCOME FUND PORTFOLIO OF INVESTMENTS (Unaudited) December 31, 2020 Shares Fair Value EXCHANGE TRADED FUND - 12.