# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0000910472-26-007569
**Filing Date:** 2026-5
**Character Count:** 58920
**Document Hash:** 4869acf14506ceb43926a92a097d4426
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-007569.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000910472-26-007569

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN LIGHTS FUND TRUST III
- **CENTRAL INDEX KEY:** 0001537140

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22655
- **FILM NUMBER:** 261029514

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 631-470-2621

**MAIL ADDRESS:**
- **STREET 1:** 17605 WRIGHT STREET
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68130

## Series and Classes Contracts Data

### ABS Insights Emerging Markets Fund (Series ID: S000087903)

| Class ID   | Class Name                                                          | Ticker Symbol   |
|:---|:---|:---|
| C000253926 | ABS Insights Emerging Markets Fund Super Institutional Class Shares | IEMSX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** NORTHERN LIGHTS FUND TRUST III

- **b. Investment Company Act file number:** 811-22655

- **c. CIK number of Registrant:** 0001537140

- **d. LEI of Registrant:** 549300PPUECJSQFBYV98

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 631-470-2600

**Item A.2. Information about the Series.**

- **a. Name of Series:** ABS Insights Emerging Markets Fund

- **b. EDGAR series identifier (if any):** S000087903

- **c. LEI of Series:** 529900SOG92Y155E3J60

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

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

- **b. Date as of which information is reported:** 2026-03-31

**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:** $145975397.49

**Total Liabilities:** $1821315.03

**Net Assets:** $144154082.46

**Cash Not Reported:** $279585.80

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253926 | 11.28%               | 6.78%                | -10.29%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1517683.58              | $13506129.42                               |
| Month 2  | $-81612.50               | $10365237.73                               |
| Month 3  | $453778.08               | $-17653125.31                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Companhia Paranaense de Energia - COPEL                  | Cia Paranaense de Energia | CUSIP: P30557105<br>LEI: 2549001AS1I9A71VG663 | Long             | EC               | CORP              | BR        |    274000 | NS      | $816781.38    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Fomento Economico Mexicano S A B de C V                  | FOMENTO ECON-UBD          | CUSIP: P4182H115<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |     26400 | NS      | $292606.79    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Colbun S.A.                                              | COLBUN SA                 | CUSIP: P2867K130<br>LEI: 5493003VQJLE2QB8IF36 | Long             | EC               | CORP              | CL        |   1717470 | NS      | $240521.29    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Promotora y Operadora de Infraestructura SA              | PROMOTORA Y OPER          | CUSIP: P7925L103<br>LEI: 52990035X6RK8DBUWA73 | Long             | EC               | CORP              | MX        |     43480 | NS      | $704506.43    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CEMEX S.A.B. de C.V.                                     | CEMEX SAB-CPO             | CUSIP: P2253T133<br>LEI: 549300RIG2CXWN6IV731 | Long             | EP               | CORP              | MX        |    179500 | NS      | $205520.70    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Banorte S.A.B. de C.V.                  | GRUPO F BANORT-O          | CUSIP: P49501201<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     39900 | NS      | $441834.53    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Mexico SAB de CV                                   | GRUPO MEXICO-B            | CUSIP: P49538112<br>LEI: 529900JWLZAYET2ZGW20 | Long             | EC               | CORP              | MX        |     51000 | NS      | $545542.65    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaspi.Kz JSC                                             | JSC KASPI.KZ              | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |      2500 | NS      | $185175.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Polska Kasa Opieki SA                               | PEKAO                     | CUSIP: X0R77T117<br>LEI: 5493000LKS7B3UTF7H35 | Long             | EC               | CORP              | PL        |      4376 | NS      | $256411.78    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercadolibre Inc                                         | MERCADOLIBRE INC          | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       330 | NS      | $570576.60    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Anhui Expressway Company Ltd                             | ANHUI EXPRESS-H           | CUSIP: Y01374100<br>LEI: 529900UGCN9D11VHIL29 | Long             | EC               | CORP              | CN        |    554000 | NS      | $1049218.34   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of the Philippine Islands                           | BANK PHILIPPINE           | CUSIP: Y0967S169<br>LEI: 549300UW4UH6XT2X8C50 | Long             | EC               | CORP              | PH        |     64200 | NS      | $105900.77    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CIMB Group Holdings Berhad                               | CIMB Group Holdings Bhd   | CUSIP: Y1636J101<br>LEI: 549300FYDN5UD7USZW18 | Long             | EC               | CORP              | MY        |     99000 | NS      | $184601.14    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd.                                 | Reliance Industries Ltd   | CUSIP: Y72596102<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |     46937 | NS      | $675555.94    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Circuit Electronics Co                              | GOLD CIRCUIT              | CUSIP: Y27431108<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     52000 | NS      | $1399993.74   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Unimicron Technology Corp.                               | UNIMICRON TECH            | CUSIP: Y90668107<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    113000 | NS      | $1572441.54   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Huadian Power International Corp Ltd.                    | Huadian Power Internation | CUSIP: Y3738Y101<br>LEI: 529900207FCOKWBDRE79 | Long             | EC               | CORP              | CN        |   1542000 | NS      | $792536.14    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Motor Co.                                        | HYUNDAI MOTOR-2           | CUSIP: Y38472224<br>LEI: 9884004RQX8PRBXQ8S60 | Long             | EP               | CORP              | KR        |      6683 | NS      | $1033015.53   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Ooredoo  Q.P.S.C.                                        | OOREDOO QSC               | CUSIP: M8180V102<br>LEI: 549300D3EIDZJB62TR20 | Long             | EC               | CORP              | QA        |     73421 | NS      | $250484.50    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CJ Corp                                                  | CJ CORP                   | CUSIP: Y1848L118<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      8022 | NS      | $1007991.56   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Infosys Ltd.                                             | INFOSYS LTD               | CUSIP: Y4082C133<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |      8782 | NS      | $117622.63    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Chroma Ate Inc                                           | Chroma ATE Inc            | CUSIP: Y1604M102<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     36000 | NS      | $1651065.96   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Dongjin Semichem Co Ltd.                                 | DONGJIN SEMICHEM          | CUSIP: Y2121T109<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     20848 | NS      | $613324.21    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Electronics Inc.                                   | DELTA ELEC                | CUSIP: Y20263102<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |     21000 | NS      | $907241.02    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd.                      | HKEX                      | CUSIP: Y3506N139<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |     20400 | NS      | $1011026.68   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                                          | GOLD FIELDS LTD           | CUSIP: S31755101<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |      5278 | NS      | $237258.70    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Nanya Technology Corp.                                   | Nanya Technology Corp     | CUSIP: Y62066108<br>LEI: 254900STKVKJBRRO0835 | Long             | EC               | CORP              | TW        |    222000 | NS      | $1379551.08   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| EO Technics Co                                           | EO TECHNICS CO            | CUSIP: Y2297V102<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3754 | NS      | $959628.29    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Elite Material Co Ltd.                                   | ELITE MATERIAL            | CUSIP: Y2290G102<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     22000 | NS      | $1790689.67   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| National Central Cooling Company PJSC (Tabreed)          | TABREED                   | CUSIP: M72005107<br>LEI: 254900E7M1Y3DXGQ1283 | Long             | EC               | CORP              | AE        |    299606 | NS      | $216130.64    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Db Hitek Co Ltd                                          | DB HITEK CO LTD           | CUSIP: Y3R69A103<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     20341 | NS      | $1061584.06   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharti Airtel Ltd.                                       | BHARTI AIRTEL             | CUSIP: Y0885K108<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |     55625 | NS      | $1061828.15   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Hynix Inc.                                            | SK HYNIX INC              | CUSIP: Y8085F100<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      4239 | NS      | $2274308.55   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Motor Co.                                        | HYUNDAI MOTOR             | CUSIP: Y38472109<br>LEI: 9884004RQX8PRBXQ8S60 | Long             | EC               | CORP              | KR        |       610 | NS      | $180671.64    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Abu Dhabi Commercial Bank PJSC                           | ABU DHABI COMMER          | CUSIP: M0152Q104<br>LEI: 213800RWVKKIRX1AUH58 | Long             | EC               | CORP              | AE        |     74079 | NS      | $249249.06    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| China Oilfield Services Ltd.                             | China Oilfield Services L | CUSIP: Y15002101<br>LEI: 529900J4X53VL8QQW675 | Long             | EC               | CORP              | CN        |   1052000 | NS      | $1211527.13   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Firstrand Ltd                                            | FIRSTRAND LTD             | CUSIP: S5202Z131<br>LEI: 529900XYOP8CUZU7R671 | Long             | EC               | CORP              | ZA        |     66376 | NS      | $337963.26    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Mandiri (Persero) Tbk PT                            | BANK MANDIRI              | CUSIP: Y7123S108<br>LEI: 549300RSKQN4Z5ZSGH94 | Long             | EC               | CORP              | ID        |    602100 | NS      | $167181.13    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Funds                             | NT-INST TRSR-PRM          | CUSIP: 665279873<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   2349563 | PA      | $2349563.06   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Glenmark Pharmaceuticals Ltd.                            | GLENMARK PHARMA           | CUSIP: Y2711C144<br>LEI: 335800WKECZXIIT9GK20 | Long             | EC               | CORP              | IN        |     42499 | NS      | $970250.41    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd.                              | SAMSUNG ELECTRON          | CUSIP: Y74718100<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     50848 | NS      | $5652265.86   | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Samyang Foods Co., Ltd                                   | SAMYANG FOODS CO          | CUSIP: Y7498J105<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       860 | NS      | $686107.44    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd.                              | SAMSUNG ELE-PREF          | CUSIP: Y74718118<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |     20143 | NS      | $1526656.87   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.             | TSMC                      | CUSIP: Y84629107<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    305000 | NS      | $16804933.79  | 11.66%            |  |  |  | No            |                  1 | On Loan: No      |
| National Bank of Kuwait S.A.K.P.                         | NATL BANK KUWAIT          | CUSIP: M7103V108<br>LEI: 549300NB7FE83IH6BW96 | Long             | EC               | CORP              | KW        |     50364 | NS      | $149996.07    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenaga Nasional Bhd                                      | Tenaga Nasional Bhd       | CUSIP: Y85859109<br>LEI: 549300FV8X6UID6I1413 | Long             | EC               | CORP              | MY        |     54300 | NS      | $186408.99    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Tsingtao Brewery Group Co Ltd.                           | TSINGTAO BREW-H           | CUSIP: Y8997D102<br>LEI: 300300OJ7D0Q1ESE8L15 | Long             | EC               | CORP              | CN        |    138000 | NS      | $853240.28    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Pampa Energia SA                                         | PAMPA-SPON ADR            | CUSIP: 697660207<br>LEI: 254900QNIK0CVURGML24 | Long             | EC               | CORP              | AR        |      3500 | NS      | $309750.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc.                                        | PDD HOLDINGS INC          | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |     10100 | NS      | $1032018.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| OTP Bank PLC                                             | OTP BANK PLC              | CUSIP: X60746181<br>LEI: 529900W3MOO00A18X956 | Long             | EC               | CORP              | HU        |      1400 | NS      | $149143.57    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Bank Berhad                                       | PUBLIC BANK BHD           | CUSIP: Y71497104<br>LEI: 549300L2RSQCVMOHGM20 | Long             | EC               | CORP              | MY        |    174200 | NS      | $201347.49    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Bumrungrad Hospital Public Co Ltd.                       | BUMRUNGRAD HOS-F          | CUSIP: Y1002E256<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |     66600 | NS      | $333378.37    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashok Leyland Ltd.                                       | ASHOK LEYLAND             | CUSIP: Y0266N143<br>LEI: 3358001BZKWERVWYCK35 | Long             | EC               | CORP              | IN        |    621452 | NS      | $1025826.24   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Bank Group Ltd.                                 | STANDARD BANK GR          | CUSIP: S80605140<br>LEI: 2549003PEZXUT7MDBU41 | Long             | EC               | CORP              | ZA        |     14067 | NS      | $253145.97    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Aselsan Elektronik Sanayi Ve Ticaret AS                  | Aselsan Elektronik Sanayi | CUSIP: M1501H100<br>LEI: 7890008XT4M710MU8714 | Long             | EC               | CORP              | TR        |     36658 | NS      | $264164.27    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KOC Holdings AG                                          | KOC HOLDING               | CUSIP: M63751107<br>LEI: 7890005U0H950VH19H45 | Long             | EC               | CORP              | TR        |     65623 | NS      | $287647.90    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Tofas Turk Otomobil Fabrikasi As                         | TOFAS                     | CUSIP: M87892101<br>LEI: 789000YSTNETKLRWHT29 | Long             | EC               | CORP              | TR        |     42537 | NS      | $262021.64    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Powszechna Kasa Oszczednosci Bank Polski SA              | PKOBP                     | CUSIP: X6919X108<br>LEI: P4GTT6GF1W40CVIMFR43 | Long             | EC               | CORP              | PL        |     10190 | NS      | $238448.94    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Unichip Corp.                                     | GLOBAL UNICHIP            | CUSIP: Y2724H114<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     16000 | NS      | $1084431.64   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Raiffeisen Bank International AG                         | RAIFFEISEN BANK           | CUSIP: A7111G104<br>LEI: 9ZHRYM6F437SQJ6OUG95 | Long             | EC               | CORP              | AT        |      9062 | NS      | $380830.24    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Localiza Rent a Car SA                                   | LOCALIZA                  | CUSIP: P6330Z111<br>LEI: 984500C442A7E0CD4D11 | Long             | EC               | CORP              | BR        |     98900 | NS      | $898196.95    | 0.62%             |  |  |  | Yes           |                  1 | On Loan: No      |
| CP All Public Co Ltd.                                    | CP ALL PCL-F              | CUSIP: Y1772K169<br>LEI: 894500LSBZLM09TY1A91 | Long             | EC               | CORP              | TH        |    106100 | NS      | $148252.62    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BIM Birlesik Magaz                                       | BIM                       | CUSIP: M2014F102<br>LEI: 7890001GCDJQD8DJKE29 | Long             | EC               | CORP              | TR        |     11139 | NS      | $171191.85    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirloskar Brothers Limited                               | KIRLOSKAR BROTHE          | CUSIP: Y4807B139<br>LEI: 335800ER8I3MX42RBR71 | Long             | EC               | CORP              | IN        |     32982 | NS      | $473008.60    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| China Construction Bank Corp.                            | CCB-H                     | CUSIP: Y1397N101<br>LEI: 5493001KQW6DM7KEDR62 | Long             | EC               | CORP              | CN        |    241000 | NS      | $257874.65    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Lingbao Gold Group Company Ltd                           | LINGBAO GOLD-H            | CUSIP: Y52794107<br>LEI: 5299006AEAGY8D467B59 | Long             | EC               | CORP              | CN        |    345000 | NS      | $1135189.73   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| The Company for Cooperative Insurance                    | CO FOR COOPERATI          | CUSIP: M7225K105<br>LEI: 549300J2GTNKWJRJ8581 | Long             | EC               | CORP              | SA        |     22048 | NS      | $751937.50    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Equatorial SA                                            | EQUATORIAL ENERGIA SA - O | CUSIP: P3773H104<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     82100 | NS      | $648456.14    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| AL Rajhi Bank                                            | AL RAJHI BANK             | CUSIP: M0R60D105<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |     28560 | NS      | $811181.40    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Telecom Company                                    | SAUDI TELECOM CO          | CUSIP: M8T596104<br>LEI: 21380028ATJ79OTA9W17 | Long             | EC               | CORP              | SA        |     24840 | NS      | $281282.75    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Almarai Co                                               | ALMARAI CO                | CUSIP: M0855N101<br>LEI: 549300B4EDUXYD2G6098 | Long             | EC               | CORP              | SA        |     64366 | NS      | $752876.28    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Greentown China Holdings Ltd.                            | GREENTOWN CHINA HOLDINGS  | CUSIP: G4100M105<br>LEI: 529900BLBC6YDNWS8530 | Long             | EC               | CORP              | HK        |   1085000 | NS      | $1208018.64   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Impala Platinum Holdings Ltd                             | Impala Platinum Holdings  | CUSIP: S37840113<br>LEI: 254900BZFIFB4PD2Z778 | Long             | EC               | CORP              | ZA        |     33337 | NS      | $470815.49    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhuzhou CRRC Times Electric Co Ltd.                      | CRRC TIMES ELEC           | CUSIP: Y9892N104<br>LEI: 529900PLNH7NQLN00B53 | Long             | EC               | CORP              | CN        |    189600 | NS      | $881142.92    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| KEI Industries Ltd                                       | KEI INDUS LTD             | CUSIP: Y4640F115<br>LEI: 335800UDWBC2AWPU7M56 | Long             | EC               | CORP              | IN        |     24889 | NS      | $1076348.22   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| United International Transportation Co                   | UNITED INTERNATI          | CUSIP: M95429102<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |     22421 | NS      | $247800.79    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Emirates NBD Bank PJSC                                   | EMIRATES NBD PJS          | CUSIP: M4029Z107<br>LEI: 54930029BCN8HF3B1286 | Long             | EC               | CORP              | AE        |     27831 | NS      | $202662.11    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Adani Ports And Special Economic Zone Ltd.               | ADANI PORTS AND           | CUSIP: Y00130107<br>LEI: 335800QOAXP5TM7OYP69 | Long             | EC               | CORP              | IN        |     78545 | NS      | $1104154.84   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| HOA Phat Group Jsc                                       | HOA PHAT GRP JSC          | CUSIP: Y3231H100<br>LEI: 549300ODJEFGL5CWKD32 | Long             | EC               | CORP              | VN        |    306720 | NS      | $313383.77    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Alinma Bank                                              | ALINMA BANK               | CUSIP: M0R35G100<br>LEI: 558600HPAUTN6XSVBK93 | Long             | EC               | CORP              | SA        |     87266 | NS      | $671033.14    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Bolsa Mexicana De Valores Sab De Cv                      | BOLSA MEXICANA            | CUSIP: P17330104<br>LEI: 894500CS2D6RLGW61A19 | Long             | EC               | CORP              | MX        |    107067 | NS      | $227910.30    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Arabian Mining Company                             | SAUDI ARABIAN MI          | CUSIP: M8236Q107<br>LEI: 254900R4HAVLB4GY9713 | Long             | EC               | CORP              | SA        |     14334 | NS      | $247482.78    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Financial Group Inc.                                  | KB FINANCIAL GRO          | CUSIP: Y46007103<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |      6298 | NS      | $594151.89    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Jentech Precision Industrial Co., Ltd                    | JENTECH                   | CUSIP: Y4432G115<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     14000 | NS      | $1663275.21   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Comercial Chedraui S.A.B. de C.V.                  | CHEDRAUI                  | CUSIP: P4612W104<br>LEI: 4469000001BRXSV0JO96 | Long             | EC               | CORP              | MX        |     41759 | NS      | $244444.77    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Triveni Turbine Ltd.                                     | TRIVENI TURBINE           | CUSIP: Y89735107<br>LEI: 335800CN8OF2ECX4NK89 | Long             | EC               | CORP              | IN        |    123505 | NS      | $581792.57    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BizLink Holding Inc.                                     | BIZLINK HOLDING           | CUSIP: G11474106<br>LEI: 213800YAKRFVU5XOX138 | Long             | EC               | CORP              | KY        |     25355 | NS      | $1381138.28   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| BDO Unibank Inc.                                         | BDO UNIBANK INC           | CUSIP: Y07775102<br>LEI: 3FGIIBS1PEI1FYQBGN97 | Long             | EC               | CORP              | PH        |     30287 | NS      | $56411.02     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanmi Pharmaceutical Co Ltd                              | HANMI PHARM CO L          | CUSIP: Y3063Q103<br>LEI: 988400PP10VZVUOFE672 | Long             | EC               | CORP              | KR        |      3098 | NS      | $1060720.77   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Youngone Corp.                                           | YOUNGONE CORP             | CUSIP: Y9857Q100<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     20490 | NS      | $1069360.28   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Powszechny Zaklad Ubezpieczen SA                         | PZU                       | CUSIP: X6919T107<br>LEI: QLPCKOOKVX32FUELX240 | Long             | EC               | CORP              | PL        |     13141 | NS      | $226786.26    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Puregold Price Club Inc.                                 | PUREGOLD PRICE C          | CUSIP: Y71617107<br>LEI: N/A                  | Long             | EC               | CORP              | PH        |    369400 | NS      | $250080.22    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Nam Long Investment Corporation                          | NAM LONG INVESTM          | CUSIP: Y618A5109<br>LEI: N/A                  | Long             | EC               | CORP              | VN        |    142800 | NS      | $157292.62    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemical Works Of Gedeon Richter                         | RICHTER GEDEON NYRT       | CUSIP: X3124S107<br>LEI: 549300J6ZJW5IH4WEE46 | Long             | EC               | CORP              | HU        |      2861 | NS      | $101882.01    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PT Sumber Alfaria Trijaya Tbk                            | SUMBER ALFARIA T          | CUSIP: Y71362118<br>LEI: N/A                  | Long             | EC               | CORP              | ID        |   2006200 | NS      | $174667.69    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Han's Laser Technology Industry Group Co Ltd.            | HAN'S LASER -A            | CUSIP: Y3063F107<br>LEI: 300300MZXZR87BGKOZ23 | Long             | EC               | CORP              | CN        |    148800 | NS      | $1321899.68   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Ningbo Co Ltd.                                   | BANK OF NINGBO-A          | CUSIP: Y0698G104<br>LEI: 300300C1092133000091 | Long             | EC               | CORP              | CN        |    261400 | NS      | $1153904.03   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubei Dinglong Co Ltd                                    | HUBEI DINGLONG-A          | CUSIP: Y3745B102<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    209100 | NS      | $1494437.52   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Vietnam Enterprise Investments Ltd                       | VIETNAM-EN INV-C          | CUSIP: G9361H109<br>LEI: 213800SYT3T4AGEVW864 | Long             | EC               | CORP              | KY        |     19725 | NS      | $190060.09    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Kajaria Ceramics Ltd.                                    | KAJARIA CERAMICS          | CUSIP: Y45199166<br>LEI: 3358007XN6AXJ1V67M07 | Long             | EC               | CORP              | IN        |     61409 | NS      | $605126.39    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Krungthai Card Public Co Ltd.                            | KRUNGTHAI-FOREIG          | CUSIP: Y498B4116<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |    307800 | NS      | $281210.27    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Seojin System Co Ltd                                     | SEOJIN SYSTEM CO          | CUSIP: Y7T39S100<br>LEI: 988400U9NKI8DHZ0J583 | Long             | EC               | CORP              | KR        |     28740 | NS      | $812060.01    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Smartfit Escola De Ginastica E Danca S.A.                | SMARTFIT- ORD             | CUSIP: P8T12R101<br>LEI: 254900H3CKKQHXK8BK20 | Long             | EC               | CORP              | BR        |    145600 | NS      | $538598.14    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinet Investments SCA                                   | REINET INVESTMENTS SCA    | CUSIP: L7925N152<br>LEI: 222100830RQTFVV22S80 | Long             | EC               | CORP              | LU        |     21196 | NS      | $692939.65    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Shandong Gold Mining Co Ltd                              | SHANDONG GOLD -H          | CUSIP: Y76831125<br>LEI: 300300KC2K8BC07OSV77 | Long             | EC               | CORP              | CN        |    225250 | NS      | $929040.12    | 0.64%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Absa Group Ltd                                           | ABSA GROUP LTD            | CUSIP: S0270C106<br>LEI: 2138006IPPRD4N6XLT30 | Long             | EC               | CORP              | ZA        |     47668 | NS      | $679578.73    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Syariah Indonesia Tbk                               | BANK SYARIAH IND          | CUSIP: Y0R8KR105<br>LEI: 9845009CD3B814E04066 | Long             | EC               | CORP              | ID        |   2616100 | NS      | $324723.28    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Chengdu Co Ltd.                                  | BANK OF CHENGD-A          | CUSIP: Y0R95C103<br>LEI: 30030030JPOKGL9K5418 | Long             | EC               | CORP              | CN        |    433600 | NS      | $1076142.65   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Xiaomi Corp.                                             | XIAOMI CORP-W             | CUSIP: G9830T106<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | KY        |     60600 | NS      | $245461.15    | 0.17%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Map Aktif Adiperkasa Tbk PT                              | MAP AKTIF ADIPER          | CUSIP: Y581AR101<br>LEI: 254900N3WK9AC24SVF17 | Long             | EC               | CORP              | ID        |   3741300 | NS      | $137555.89    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore PLC                                             | GLENCORE PLC              | CUSIP: G39420107<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |    146496 | NS      | $1108294.94   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Contemporary Amperex Technology Co Ltd.                  | CONTEMPORARY A-A          | CUSIP: Y1R48E105<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |     22700 | NS      | $1321917.95   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd.                                           | HDFC BANK LTD             | CUSIP: Y3119P190<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |    106417 | NS      | $833746.57    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd.                               | BABA-W                    | CUSIP: G01719114<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    177300 | NS      | $2690824.36   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Cosmax Inc.                                              | COSMAX INC                | CUSIP: Y1R696106<br>LEI: 988400ZU10J4AP3M4Y14 | Long             | EC               | CORP              | KR        |      4813 | NS      | $628768.60    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Vivara Participacoes SA                                  | VIVARA PARTICIPA          | CUSIP: P98017109<br>LEI: 254900KO2WRLAVSJDR42 | Long             | EC               | CORP              | BR        |     83700 | NS      | $416597.19    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Eternal Ltd.                                             | ZOMATO LTD                | CUSIP: Y9899X105<br>LEI: 335800T4VOF9ETHF8W59 | Long             | EC               | CORP              | IN        |    421879 | NS      | $1034580.99   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Fositek Corp.                                            | FOSITEK CORP              | CUSIP: Y261K6105<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     25000 | NS      | $1369627.15   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Akeso Inc.                                               | AKESO INC                 | CUSIP: G0146B103<br>LEI: 254900ECWYGR3QW5GF30 | Long             | EC               | CORP              | KY        |     68000 | NS      | $1129144.57   | 0.78%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Bangkok Dusit Medical Services Public Co Ltd.            | BANGKOK DUSIT-F           | CUSIP: Y06071255<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |    267200 | NS      | $154265.88    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro.eu SA                                            | ALLEGRO.EU SA             | CUSIP: L0R67D109<br>LEI: 222100VRLXV3FPMG4982 | Long             | EC               | CORP              | LU        |     52694 | NS      | $374203.60    | 0.26%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Rasan Information Technology Co.                         | RASAN INFORMATIO          | CUSIP: M8189E101<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |     10203 | NS      | $366998.45    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Square Co Ltd                                         | SK SQUARE CO LTD          | CUSIP: Y8T6X4107<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3374 | NS      | $1046427.53   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Abu Dhabi Ports Company PJSC                             | ABU DHABI PORTS           | CUSIP: M0153A108<br>LEI: 213800F5LEV1NQJ68T87 | Long             | EC               | CORP              | AE        |    226345 | NS      | $239068.63    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Allos SA                                                 | ALLOS SA                  | CUSIP: P0R6A1107<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    150800 | NS      | $881295.87    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd.                                    | TENCENT                   | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     64400 | NS      | $3975217.38   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Finserv Ltd                                        | BAJAJ FINSERV LT          | CUSIP: Y0548X125<br>LEI: 3358001EH4I4IDMGQ326 | Long             | EC               | CORP              | IN        |     53755 | NS      | $939430.88    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepco Group NV                                           | PEPCO GROUP NV            | CUSIP: G6999C106<br>LEI: 213800OVMJPFP79OB449 | Long             | EC               | CORP              | NL        |     61507 | NS      | $442256.79    | 0.31%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Qingdao Port International Co Limited                    | QINGDAO PORT INTERNATIONA | CUSIP: Y7S64R101<br>LEI: 529900URO8Y3C7A1JM55 | Long             | EC               | CORP              | CN        |    929000 | NS      | $806849.40    | 0.56%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Global Heath Ltd.                                        | GLOBAL HEALTH LT          | CUSIP: Y2R1K6136<br>LEI: 335800TEDV7GWBKTVO07 | Long             | EC               | CORP              | IN        |     96737 | NS      | $995726.87    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Kotak Mahindra Bank Ltd.                                 | KOTAK MAHINDRA            | CUSIP: Y4S3A3127<br>LEI: 335800E6GTTXKHXE2I75 | Long             | EC               | CORP              | IN        |    284218 | NS      | $1075714.84   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Farm Fresh Bhd                                           | FARM FRESH BHD            | CUSIP: Y2464B103<br>LEI: 3912006NEWTYETQFYI68 | Long             | EC               | CORP              | MY        |    295900 | NS      | $176122.25    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| APL Apollo Tubes Ltd.                                    | APL APOLLO TUBES          | CUSIP: Y0181Q148<br>LEI: 335800ZU4GXSB7Q4IU95 | Long             | EC               | CORP              | IN        |     52829 | NS      | $1095925.54   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| One 97 Communications Ltd.                               | ONE 97 COMMUNICA          | CUSIP: Y6425F111<br>LEI: 335800ZRHU5J6GSTMI23 | Long             | EC               | CORP              | IN        |     98861 | NS      | $1015366.06   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| East Pipes Integrated Company for Industry               | EAST PIPES INTEG          | CUSIP: M2R260102<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |      7822 | NS      | $333457.41    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| China Merchants Bank Co Ltd.                             | CHINA MERCH BK-A          | CUSIP: Y14896107<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |    224100 | NS      | $1277415.48   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| China State Construction Engineering Corp Ltd.           | CHINA STATE -A            | CUSIP: Y1R16Z106<br>LEI: 300300CWW8WOEV3BR645 | Long             | EC               | CORP              | CN        |   1537980 | NS      | $1117030.99   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhongjin Gold Corp Ltd.                                  | ZHONGJIN GOLD-A           | CUSIP: Y9890R107<br>LEI: 300300Q0ZK8HFP814Z87 | Long             | EC               | CORP              | CN        |    225200 | NS      | $872005.22    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Shandong Hualu-Hengsheng Chemical Co Ltd.                | SHANDONG HUALU-A          | CUSIP: Y76843104<br>LEI: 655600R2WZ4EKICFE373 | Long             | EC               | CORP              | CN        |    185200 | NS      | $971910.70    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Hengtong Optic-Electric Co Ltd.                          | HENGTONG OPTIC-A          | CUSIP: Y3174C100<br>LEI: 655600VKTXMT2WKBE151 | Long             | EC               | CORP              | CN        |    205800 | NS      | $1571097.13   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Tongkun Group Co Ltd.                                    | TONGKUN GROUP-A           | CUSIP: Y8851U109<br>LEI: 300300AK2H2EJWS24N19 | Long             | EC               | CORP              | CN        |    456900 | NS      | $1195570.46   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Mobile World Investment Corporation                      | MOBILE WORLD INV          | CUSIP: Y604K2105<br>LEI: 254900ZRFNB8CRAHHO95 | Long             | EC               | CORP              | VN        |    109600 | NS      | $340522.64    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Taaleem Holdings PJSC                                    | TAALEEM HOLDINGS          | CUSIP: M8T07F107<br>LEI: N/A                  | Long             | EC               | CORP              | AE        |    154154 | NS      | $129668.13    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Itmax System Bhd                                         | ITMAX SYSTEM BHD          | CUSIP: Y4211B105<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |    169300 | NS      | $186066.93    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Adnoc Gas                                                | ADNOC GAS PLC             | CUSIP: M0R823101<br>LEI: 254900O5NS03BDOOM362 | Long             | EC               | CORP              | AE        |    374672 | NS      | $326378.22    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Varun Beverages Ltd.                                     | VARUN BEVERAGES           | CUSIP: Y9T53H143<br>LEI: 33580058NWEMWBDNMD48 | Long             | EC               | CORP              | IN        |    236321 | NS      | $972132.94    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Hua Hong Semiconductor Ltd.                              | HUA HONG SEMICONDUCTOR LT | CUSIP: Y372A7109<br>LEI: 529900OXH3ZYLIMGB907 | Long             | EC               | CORP              | HK        |     90000 | NS      | $891278.90    | 0.62%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Piramal Finance Ltd.                                     | PIRAMAL FINANCE           | CUSIP: Y6934Y106<br>LEI: 335800M751HM7MSTFQ19 | Long             | EC               | CORP              | IN        |     66295 | NS      | $1302499.39   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti PLC                                    | ANGLOGOLD ASHANT          | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |      9109 | NS      | $884307.25    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZAS 2154 S.A.                                          | AZZAS 2154 SA             | CUSIP: P0R0NH101<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     90500 | NS      | $444327.21    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Electronics Thailand Public Co Ltd                 | DELTA ELEC-FORGN          | CUSIP: Y20266204<br>LEI: 529900JKLVG9Y2SVWL93 | Long             | EC               | CORP              | TH        |     29400 | NS      | $233842.09    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIJIN GOLD INTERNATIONAL COMPANY LI                      | ZIJIN GOLD INTER          | CUSIP: Y990DL104<br>LEI: 254900FINUJR4MZ8A417 | Long             | EC               | CORP              | HK        |     47900 | NS      | $1063564.76   | 0.74%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Saudi National Bank (the)                                | SAUDI NATIONAL B          | CUSIP: M7S2CL107<br>LEI: 5586006ZEFQ542K7CY16 | Long             | EC               | CORP              | SA        |    125152 | NS      | $1394518.87   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Chunghwa Precision Test Tech Co Ltd                      | CHUNGHWA PREC             | CUSIP: Y1612W100<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     14000 | NS      | $1349904.52   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| CS Wind Corp                                             | CS WIND                   | CUSIP: Y1R23X102<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     17569 | NS      | $696154.66    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Elecon Engineering                                       | ELECON ENGINEER           | CUSIP: Y2R72B116<br>LEI: 335800H65LT1IKZEIF87 | Long             | EC               | CORP              | IN        |    120790 | NS      | $458915.18    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd.                                          | ICICI BANK LTD            | CUSIP: Y3860Z132<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     81218 | NS      | $1048920.62   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Metlen Energy & Metals PLC                               | METLEN ENERGY &           | CUSIP: G6042Y105<br>LEI: 213800ZSR3HVKMMPVG86 | Long             | EC               | CORP              | GB        |      4183 | NS      | $161479.66    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Winway Technology Co Ltd                                 | WINWAY TECHNOLOG          | CUSIP: Y96657146<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     10000 | NS      | $2238362.08   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Naspers Limited                                          | NASPERS LTD-N             | CUSIP: S53435129<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |      8650 | NS      | $440713.92    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Piraeus Bank SA                                          | PIRAEUS BANK SA           | CUSIP: X5S2FJ101<br>LEI: 213800OYHR1MPQ5VJL60 | Long             | EC               | CORP              | GR        |     35940 | NS      | $290195.15    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Wal-Mart De Mexico                                       | WALMART DE MEXIC          | CUSIP: P98180188<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    231200 | NS      | $753896.64    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Ho Chi Minh City Development Joint Stock Commercial Bank | HDBANK                    | CUSIP: Y3R31X108<br>LEI: 549300JA2AF0TMGHY210 | Long             | EC               | CORP              | VN        |    417601 | NS      | $403674.62    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Prio SA                                                  | PRIO SA                   | CUSIP: P7S19Q109<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     73700 | NS      | $943385.04    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Aegis Logistics Ltd.                                     | AEGIS LOGISTICS           | CUSIP: Y0018C122<br>LEI: 335800R6OF8UV8J3G994 | Long             | EC               | CORP              | IN        |    155884 | NS      | $999432.72    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoneco Ltd                                              | STONECO LTD-A             | CUSIP: G85158106<br>LEI: 549300O1A9LEF0XZCR35 | Long             | EC               | CORP              | KY        |     54800 | NS      | $773776.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| XP Inc.                                                  | XP INC - CLASS A          | CUSIP: G98239109<br>LEI: 5493008KDA8NBZRJST80 | Long             | EC               | CORP              | KY        |     40100 | NS      | $763504.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-28

**Name of Applicant:** NORTHERN LIGHTS FUND TRUST III

**Signature:** Rich Gleason

**Name of Signer:** Rich Gleason

**Title:** Treasurer