# Swan Defined Risk Fund

Swan Defined Risk Fund is a registered fund series of NORTHERN LIGHTS FUND TRUST III (series S000037505). Net assets $587.4M as of 2026-03-31.

## Profile

- Series ID: S000037505
- Registrant: NORTHERN LIGHTS FUND TRUST III
- LEI: 549300A86W0U1NC10X11
- Net assets: $587.4M
- Total assets: $592.8M
- As of: 2026-03-31
- Type: Fund of funds

## Advisers

- [Swan Capital Management, LLC (Advisor)](https://search.stillhousedata.com/firm/164280)
- [Swan Global Management, LLC (Subadvisor)](https://search.stillhousedata.com/firm/173621)

## Top holdings (17 reported)

_Showing 15 of 17 holdings by value._

| Holding | Ticker | Value | % of fund |
| --- | --- | --- | --- |
| [iShares Trust](https://search.stillhousedata.com/security/464287200) | — | $347.5M | 5915.66% |
| [Select Sector Spdr Trust](https://search.stillhousedata.com/security/81369Y803) | — | $57.5M | 979.62% |
| SPX US 12/17/27 P7350 | — | $35.2M | 599.11% |
| SPX US 12/17/27 P7250 | — | $33.7M | 573.65% |
| [Select Sector Spdr Trust](https://search.stillhousedata.com/security/81369Y605) | — | $21.7M | 370.19% |
| [Select Sector Spdr Trust](https://search.stillhousedata.com/security/81369Y407) | — | $17.1M | 291.12% |
| [Select Sector Spdr Trust](https://search.stillhousedata.com/security/81369Y209) | — | $16.8M | 285.62% |
| [Select Sector Spdr Trust](https://search.stillhousedata.com/security/81369Y852) | — | $16.6M | 282.27% |
| [Select Sector Spdr Trust](https://search.stillhousedata.com/security/81369Y704) | — | $15.6M | 265.89% |
| [Select Sector Spdr Trust](https://search.stillhousedata.com/security/81369Y308) | — | $9.1M | 155.67% |
| [Select Sector Spdr Trust](https://search.stillhousedata.com/security/81369Y506) | — | $7.1M | 120.79% |
| [Select Sector Spdr Trust](https://search.stillhousedata.com/security/81369Y886) | — | $4.4M | 74.75% |
| [Select Sector Spdr Trust](https://search.stillhousedata.com/security/81369Y100) | — | $3.5M | 59.90% |
| [Select Sector Spdr Trust](https://search.stillhousedata.com/security/81369Y860) | — | $3.3M | 55.89% |
| [First American Funds Inc.](https://search.stillhousedata.com/security/31846V336) | — | $3.0M | 50.64% |

## Net asset history

| Report date | Net assets |
| --- | --- |
| 2026-03-31 | $587.4M |
| 2025-12-31 | $631.8M |
| 2025-09-30 | $647.4M |
| 2025-06-30 | $643.3M |
| 2025-03-31 | $649.6M |
| 2024-12-31 | $685.0M |
| 2024-09-30 | $710.0M |
| 2024-06-30 | $713.7M |

## More

- [Registrant: NORTHERN LIGHTS FUND TRUST III](https://search.stillhousedata.com/registrant/1537140)
- [This page as markdown (for LLM agents)](https://search.stillhousedata.com/fund/S000037505.md)
- [Search all SEC filings, advisers and people on Adviser Search](https://search.stillhousedata.com/)

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Source: public SEC filing data via Adviser Search (https://search.stillhousedata.com).
Agents: this data is also queryable via MCP tools and read-only SQL — see https://search.stillhousedata.com/llms.txt.