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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
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Tax-Free Fixed Income Fund III for Puerto Rico Residents, Inc. (Name of Issuer) |
Common Shares, $0.01 par value (Title of Class of Securities) |
(CUSIP Number) |
W. Heath Hawk GAM Tower, 2 Tabonuco St.,, Suite 200 Guaynabo, PR, 00968 (770) 777-9373 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
05/20/2026 (Date of Event Which Requires Filing of This Statement) |
SCHEDULE 13D
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| CUSIP No. |
| 1 |
Name of reporting person
Ocean Capital LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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| 6 | Citizenship or place of organization
PUERTO RICO
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 11 | Aggregate amount beneficially owned by each reporting person
1,794,528.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
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| 13 | Percent of class represented by amount in Row (11)
6.2 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
SCHEDULE 13D
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| CUSIP No. |
| 1 |
Name of reporting person
William Heath Hawk | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
PF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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| 6 | Citizenship or place of organization
UNITED STATES
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 11 | Aggregate amount beneficially owned by each reporting person
1,804,434.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
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| 13 | Percent of class represented by amount in Row (11)
6.2 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
SCHEDULE 13D
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| Item 1. | Security and Issuer | |
| (a) | Title of Class of Securities:
Common Shares, $0.01 par value | |
| (b) | Name of Issuer:
Tax-Free Fixed Income Fund III for Puerto Rico Residents, Inc. | |
| (c) | Address of Issuer's Principal Executive Offices:
250 Munoz Rivera Avenue, American International Plaza, 10th Floor, San Juan,
PUERTO RICO
, 00918. | |
Item 1 Comment:
The following constitutes Amendment No. 8 ("Amendment No. 8") to the Schedule 13D initially filed by the undersigned with the Securities and Exchange Commission (the "SEC") on October 6, 2021, as subsequently amended from time to time (collectively, the "Schedule 13D"). This Amendment No. 8 amends the Schedule 13D as specifically set forth herein. Capitalized terms used but not defined herein have the meanings ascribed to them in the Schedule 13D. | ||
| Item 4. | Purpose of Transaction | |
Item 4 is hereby supplemented to add the following:
On May 20, 2026, Ocean Capital submitted a shareholder proposal to the Issuer consistent with, and as permitted by, Rule 14a-8 under the Securities Exchange Act of 1934 (the "Proposal"). The purpose of the Proposal is to permit shareholders to vote at the 2026 annual meeting of the shareholders of the Issuer to terminate the investment advisory agreement between the Issuer and its investment adviser, UBS Investment Managers of Puerto Rico, pursuant to the right of shareholders as embodied in Section 15(a)(3) of the Investment Company Act of 1940, such termination to be effective no more than sixty days following the date of shareholder approval thereof. | ||
| Item 5. | Interest in Securities of the Issuer | |
| (a) | Interest in Securities of the Issuer:
The percentages used herein are based upon 28,772,928 shares of common stock outstanding, as disclosed in the Shareholder Report.
A. As of the close of business on May 22, 2026, Ocean Capital beneficially owned 1,794,528.00 shares of Common Stock representing approximately 6.2% of the outstanding Common Stock of the Issuer.
B. As of the close of business on May 22, 2026, William Heath Hawk beneficially owned 1,804,434.00 shares of Common Stock representing approximately 6.2% of the outstanding Common Stock of the Issuer. | |
| (b) | A. Ocean Capital LLC
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 1,794,528.00
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 1,794,528.00
B. William Heath Hawk
1. Sole power to vote or direct vote: 9,906.00
2. Shared power to vote or direct vote: 1,794,528.00
3. Sole power to dispose or direct the disposition: 9,906.00
4. Shared power to dispose or direct the disposition: 1,794,528.00 | |
| (c) | A. The transactions in the shares of Common Stock by the Reporting Persons during the past sixty days are set forth in Schedule A and are incorporated herein by reference. | |
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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