[Form 3] Mill City Ventures III, Ltd. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Stephen Andrew Mackintosh filed an Initial Statement of Beneficial Ownership (Form 3) for Mill City Ventures III, Ltd. (MCVT). The filing lists his address at Mill City Ventures III, Ltd., identifies him as a Director and Chief Investment Officer, and reports the date of the event requiring the statement as 07/31/2025. The form states explicitly that no securities are beneficially owned by the reporting person. The filing is signed and dated 08/11/2025.

Positive

• Initial disclosure filed meeting Section 16 reporting requirements
• Clear identification of role as Director and Chief Investment Officer

Negative

• No beneficial ownership reported by an insider, which may be relevant to insider alignment assessments

Insights

Corporate Governance Expert

TL;DR: Officer and director disclosed with no beneficial ownership of issuer securities; routine compliance filing with limited investor impact.

The Form 3 is an initial Section 16 filing that identifies Stephen Mackintosh as a director and Chief Investment Officer of Mill City Ventures III, Ltd. It discloses zero beneficial ownership of the issuer's securities, which is an explicit statement rather than an omission. From a governance perspective, the filing satisfies reporting obligations and provides transparency about insider holdings. The lack of ownership may be relevant to assessments of insider alignment but the filing contains no transactions, grants, or other items that would materially affect investors.

Securities Compliance Analyst

TL;DR: Timely initial disclosure filed; contains no derivatives or equity holdings, so there are no reportable transactions to monitor.

The document is a standard Form 3 submission stating the reporting person has no direct or indirect beneficial ownership in MCVT. It indicates a single reporting person filing and includes the required signature. Because there are no securities or derivative positions disclosed, there are no immediate Section 16 trading implications or short-swing profit reporting requirements triggered by this filing.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Mackintosh Stephen Andrew

(Last) (First) (Middle)

C/O MILL CITY VENTURES III, LTD.

1907 WAYZATA BOULEVARD,. SUITE 205

(Street)

WAYZATA MN 55391

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/31/2025

3. Issuer Name and Ticker or Trading Symbol
Mill City Ventures III, Ltd [ MCVT ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Investment Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

No securities are beneficially owned.

	/s/ Stephen Mackintosh	08/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Stephen Mackintosh disclose on the Form 3 for MCVT?

The Form 3 names Stephen Andrew Mackintosh as a Director and Chief Investment Officer of Mill City Ventures III, Ltd. and states that he does not beneficially own any securities of the issuer.

When is the event date reported on the MCVT Form 3?

The date of the event requiring the statement is listed as 07/31/2025.

When was the Form 3 signed for MCVT?

The Form 3 is signed by Stephen Mackintosh and dated 08/11/2025.

Does the Form 3 for MCVT report any derivative securities or transactions?

No. The filing explicitly states that no securities are beneficially owned and contains no derivative or transaction entries.

Is the Form 3 filed jointly or by one person for MCVT?

The form indicates it was filed by one reporting person.