# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0000910472-26-008150
**Filing Date:** 2026-5
**Character Count:** 42603
**Document Hash:** 27d2f94b8b7efb5784d1b724ead35504
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-008150.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0000910472-26-008150

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20260630

**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:** 261039254

**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

### HCM Defender 100 Index ETF (Series ID: S000066141)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000213732 | HCM Defender 100 Index ETF | QQH             |

## Nport-Ex

\

---

| | | |
|:---|:---|:---|
| **HCM DEFENDER 100 INDEX ETF** | **HCM DEFENDER 100 INDEX ETF** | **HCM DEFENDER 100 INDEX ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 40.7%** |  |
|  | **ADVERTISING & MARKETING - 0.1%** |  |
| 1452 | AppLovin Corporation, Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $577896 |
|  | **AEROSPACE & DEFENSE - 0.0%<sup>(b)</sup>** |  |
| 792 | Axon Enterprise, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 336354 |
|  | **AUTOMOTIVE - 1.6%** |  |
| 26964 | Tesla, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 10023867 |
|  | **BEVERAGES - 0.5%** |  |
| 1767 | Coca-Cola Europacific Partners plc | &nbsp;&nbsp;&nbsp; 160214 |
| 9814 | Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp; 258403 |
| 5868 | Monster Beverage Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 425195 |
| 14410 | PepsiCo, Inc. | &nbsp;&nbsp;&nbsp; 2237729 |
|  |  | &nbsp;&nbsp; 3081541 |
|  | **BIOTECH & PHARMA - 0.9%** |  |
| 1126 | Alnylam Pharmaceuticals, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 372560 |
| 4987 | Amgen, Inc. | &nbsp;&nbsp;&nbsp; 1754675 |
| 11726 | Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp; 1634253 |
| 941 | Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp; 727054 |
| 2675 | Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1194495 |
|  |  | &nbsp;&nbsp; 5683037 |
|  | **CABLE & SATELLITE - 0.2%** |  |
| 774 | Charter Communications, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 167091 |
| 32473 | Comcast Corporation, Class A | &nbsp;&nbsp;&nbsp; 932300 |
|  |  | &nbsp;&nbsp; 1099391 |
|  | **CHEMICALS - 0.4%** |  |
| 4848 | Linde PLC | &nbsp;&nbsp;&nbsp; 2403444 |
|  | **COMMERCIAL SUPPORT SERVICES - 0.1%** |  |
| 2920 | Cintas Corporation | &nbsp;&nbsp;&nbsp; 493889 |
|  | **DIVERSIFIED INDUSTRIALS - 0.2%** |  |
| 5570 | Honeywell International, Inc. | &nbsp;&nbsp;&nbsp; 1258987 |

---

---

| | | |
|:---|:---|:---|
| **HCM DEFENDER 100 INDEX ETF** | **HCM DEFENDER 100 INDEX ETF** | **HCM DEFENDER 100 INDEX ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 40.7% (Continued)** |  |
|  | **E-COMMERCE DISCRETIONARY - 3.1%** |  |
| 85570 | Amazon.com, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $17821664 |
| 3897 | eBay, Inc. | &nbsp;&nbsp;&nbsp; 354705 |
| 387 | MercadoLibre, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 669131 |
| 5526 | PDD Holdings, Inc. - ADR<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 564647 |
|  |  | &nbsp;&nbsp; 19410147 |
|  | **ELECTRIC UTILITIES - 0.3%** |  |
| 4813 | American Electric Power Company, Inc. | &nbsp;&nbsp;&nbsp; 630888 |
| 2270 | Constellation Energy Corporation | &nbsp;&nbsp;&nbsp; 633897 |
| 9097 | Exelon Corporation | &nbsp;&nbsp;&nbsp; 445935 |
| 5324 | Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp; 422939 |
|  |  | &nbsp;&nbsp; 2133659 |
|  | **ENTERTAINMENT CONTENT - 0.1%** |  |
| 1899 | Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp; 387149 |
|  | **FOOD - 0.1%** |  |
| 11397 | Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp; 656923 |
| 6948 | The Kraft Heinz Company | &nbsp;&nbsp;&nbsp; 156261 |
|  |  | &nbsp;&nbsp; 813184 |
|  | **INDUSTRIAL SUPPORT SERVICES - 0.1%** |  |
| 9863 | Fastenal Company | &nbsp;&nbsp;&nbsp; 457643 |
|  | **INTERNET MEDIA & SERVICES - 6.6%** |  |
| 3578 | Airbnb, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 451830 |
| 42900 | Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp; 12336324 |
| 42292 | Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp; 12131883 |
| 272 | Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp; 1145207 |
| 1849 | DoorDash, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 277627 |
| 19520 | Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp; 11167978 |
| 42971 | Netflix, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4131662 |
|  |  | &nbsp;&nbsp; 41642511 |
|  | **LEISURE FACILITIES & SERVICES - 0.2%** |  |
| 1907 | Marriott International Inc, Class A | &nbsp;&nbsp;&nbsp; 623722 |
| 10065 | Starbucks Corporation | &nbsp;&nbsp;&nbsp; 901724 |
|  |  | &nbsp;&nbsp; 1525446 |

---

---

| | | |
|:---|:---|:---|
| **HCM DEFENDER 100 INDEX ETF** | **HCM DEFENDER 100 INDEX ETF** | **HCM DEFENDER 100 INDEX ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 40.7% (Continued)** |  |
|  | **MEDICAL EQUIPMENT & DEVICES - 0.3%** |  |
| 2778 | Dexcom, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $174458 |
| 3895 | GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp; 277246 |
| 640 | IDEXX Laboratories, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 359610 |
| 2934 | Intuitive Surgical, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1352545 |
|  |  | &nbsp;&nbsp; 2163859 |
|  | **OIL & GAS PRODUCERS - 0.0%<sup>(b)</sup>** |  |
| 1616 | Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp; 319629 |
|  | **OIL & GAS SERVICES & EQUIPMENT - 0.1%** |  |
| 8602 | Baker Hughes Company | &nbsp;&nbsp;&nbsp; 525152 |
|  | **RETAIL - CONSUMER STAPLES - 2.2%** |  |
| 9118 | Costco Wholesale Corporation | &nbsp;&nbsp;&nbsp; 9085448 |
| 37055 | Walmart, Inc. | &nbsp;&nbsp;&nbsp; 4605195 |
|  |  | &nbsp;&nbsp; 13690643 |
|  | **RETAIL - DISCRETIONARY - 0.2%** |  |
| 7766 | O'Reilly Automotive, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 716879 |
| 2760 | Ross Stores, Inc. | &nbsp;&nbsp;&nbsp; 597899 |
|  |  | &nbsp;&nbsp; 1314778 |
|  | **SEMICONDUCTORS - 11.0%** |  |
| 14974 | Advanced Micro Devices, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3046161 |
| 4045 | Analog Devices, Inc. | &nbsp;&nbsp;&nbsp; 1286876 |
| 6759 | Applied Materials, Inc. | &nbsp;&nbsp;&nbsp; 2310159 |
| 41599 | Broadcom, Inc. | &nbsp;&nbsp;&nbsp; 12875306 |
| 36516 | Intel Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1611451 |
| 1143 | KLA Corporation | &nbsp;&nbsp;&nbsp; 1682965 |
| 10663 | Lam Research Corporation | &nbsp;&nbsp;&nbsp; 2278257 |
| 7758 | Marvell Technology, Inc. | &nbsp;&nbsp;&nbsp; 768430 |
| 4393 | Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp; 283832 |
| 9705 | Micron Technology, Inc. | &nbsp;&nbsp;&nbsp; 3278737 |
| 209768 | NVIDIA Corporation | &nbsp;&nbsp;&nbsp; 36583539 |
| 2178 | NXP Semiconductors N.V. | &nbsp;&nbsp;&nbsp; 428761 |
| 9821 | QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp; 1264748 |
| 1190 | Sandisk Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 756055 |

---

---

| | | |
|:---|:---|:---|
| **HCM DEFENDER 100 INDEX ETF** | **HCM DEFENDER 100 INDEX ETF** | **HCM DEFENDER 100 INDEX ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 40.7% (Continued)** |  |
|  | **SEMICONDUCTORS - 11.0% (Continued)** |  |
| 7695 | Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp; $1493907 |
|  |  | &nbsp;&nbsp; 69949184 |
|  | **SOFTWARE - 5.8%** |  |
| 3734 | Adobe, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 907661 |
| 1517 | Atlassian Corporation, Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 103535 |
| 1789 | Autodesk, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 428287 |
| 2368 | Cadence Design Systems, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 657996 |
| 2034 | Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 794094 |
| 2548 | Datadog, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 300791 |
| 5839 | Fortinet, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 477163 |
| 2294 | Intuit, Inc. | &nbsp;&nbsp;&nbsp; 991880 |
| 65948 | Microsoft Corporation | &nbsp;&nbsp;&nbsp; 24411970 |
| 36351 | Palantir Technologies, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5317424 |
| 5684 | Palo Alto Networks, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 911259 |
| 902 | Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp; 319182 |
| 1456 | Strategy, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 181709 |
| 1535 | Synopsys, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 608597 |
| 1766 | Workday, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 229439 |
|  |  | &nbsp;&nbsp; 36640987 |
|  | **TECHNOLOGY HARDWARE - 5.9%** |  |
| 127437 | Apple, Inc. | &nbsp;&nbsp;&nbsp; 32342236 |
| 46490 | Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp; 3607159 |
| 1643 | Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp; 643662 |
| 3015 | Western Digital Corporation | &nbsp;&nbsp;&nbsp; 815527 |
|  |  | &nbsp;&nbsp; 37408584 |
|  | **TECHNOLOGY SERVICES - 0.3%** |  |
| 3452 | Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp; 701378 |
| 3961 | Cognizant Technology Solutions Corporation, Class A | &nbsp;&nbsp;&nbsp; 243007 |
| 2735 | Paychex, Inc. | &nbsp;&nbsp;&nbsp; 251948 |
| 8397 | PayPal Holdings, Inc. | &nbsp;&nbsp;&nbsp; 379796 |
| 1142 | Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp; 216695 |
|  |  | &nbsp;&nbsp; 1792824 |

---

---

| | | |
|:---|:---|:---|
| **HCM DEFENDER 100 INDEX ETF** | **HCM DEFENDER 100 INDEX ETF** | **HCM DEFENDER 100 INDEX ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 40.7% (Continued)** |  |
|  | **TELECOMMUNICATIONS - 0.2%** |  |
| 4811 | T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp; $1010454 |
|  | **TRANSPORTATION & LOGISTICS - 0.1%** |  |
| 16274 | CSX Corporation | &nbsp;&nbsp;&nbsp; 668048 |
| 1498 | Old Dominion Freight Line, Inc. | &nbsp;&nbsp;&nbsp; 292709 |
|  |  | &nbsp;&nbsp; 960757 |
|  | **TRANSPORTATION EQUIPMENT - 0.1%** |  |
| 4545 | PACCAR, Inc. | &nbsp;&nbsp;&nbsp; 524948 |
|  | **WHOLESALE - DISCRETIONARY - 0.0%<sup>(b)</sup>** |  |
| 7315 | Copart, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 242858 |
|  | **TOTAL COMMON STOCKS (Cost $179,457,786)** | &nbsp;&nbsp; 257872802 |
|  | **TOTAL INVESTMENTS - 40.7% (Cost $179,457,786)** | &nbsp;&nbsp;&nbsp; $257872802 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 59.3%** | &nbsp;&nbsp; 375367259 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $633240061 |

---

---

| | |
|:---|:---|
| ADR | - American Depositary Receipt |
| ETF | - Exchange-Traded Fund |
| NV | - Naamioze Vennootschap |
| PLC | - Public Limited Company |
| <sup>(a)</sup> | Non-income producing security. |
| <sup>(b)</sup> | Percentage rounds to less than 0.1%. |

---

## 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:** HCM Defender 100 Index ETF

- **b. EDGAR series identifier (if any):** S000066141

- **c. LEI of Series:** 5493009UVJWVJ3E1I465

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

- **a. Date of fiscal year-end:** 2026-06-30

- **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:** $633672474.84

**Total Liabilities:** $432414.12

**Net Assets:** $633240060.72

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000213732 | 0.69%                | -3.93%               | -6.46%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-19.29                  | $4870564.65                                |
| Month 2  | $-2263994.94             | $-25153549.99                              |
| Month 3  | $60700278.89             | $-106105411.10                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Adobe Inc                            | ADOBE INC         | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      3734 | NS      | $907660.72    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc.          | ADV MICRO DEVICE  | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     14974 | NS      | $3046160.82   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                           | AIRBNB INC-A      | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      3578 | NS      | $451829.84    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc.         | ALNYLAM PHARMACE  | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      1126 | NS      | $372559.62    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                        | ALPHABET INC-C    | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     42292 | NS      | $12131883.12  | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                        | ALPHABET INC-A    | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     42900 | NS      | $12336324.00  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                     | AMAZON.COM INC    | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     85570 | NS      | $17821663.90  | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co, Inc.     | AMERICAN ELECTRI  | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      4813 | NS      | $630888.04    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                           | AMGEN INC         | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      4987 | NS      | $1754675.95   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc.                  | ANALOG DEVICES    | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      4045 | NS      | $1286876.30   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                           | APPLE INC         | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    127437 | NS      | $32342236.23  | 5.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.               | APPLIED MATERIAL  | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      6759 | NS      | $2310158.61   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Applovin Corp.                       | APPLOVIN CO-CL A  | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      1452 | NS      | $577896.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corporation                | ATLASSIAN CORP-A  | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |      1517 | NS      | $103535.25    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                         | AUTODESK INC      | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      1789 | NS      | $428286.60    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing, Inc.      | AUTOMATIC DATA    | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      3452 | NS      | $701377.36    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                  | AXON ENTERPRISE   | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |       792 | NS      | $336354.48    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Company                 | BAKER HUGHES CO   | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8602 | NS      | $525152.10    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                 | BOOKING HOLDINGS  | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       272 | NS      | $1145207.04   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                         | BROADCOM INC      | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     41599 | NS      | $12875306.49  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corporation                      | CSX CORP          | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |     16274 | NS      | $668047.70    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.         | CADENCE DESIGN    | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      2368 | NS      | $657996.16    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.         | CHARTER COMMUN-A  | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |       774 | NS      | $167091.12    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                  | CISCO SYSTEMS     | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     46490 | NS      | $3607159.10   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corporation                   | CINTAS CORP       | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2920 | NS      | $493888.80    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp. | COGNIZANT TECH-A  | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      3961 | NS      | $243007.35    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                  | COMCAST CORP-A    | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     32473 | NS      | $932299.83    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.           | CONSTELLATION EN  | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      2270 | NS      | $633897.50    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                           | COPART INC        | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |      7315 | NS      | $242858.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corporation         | COSTCO WHOLESALE  | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      9118 | NS      | $9085448.74   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc             | CROWDSTRIKE HO-A  | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      2034 | NS      | $794093.94    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                          | DATADOG INC-A     | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      2548 | NS      | $300791.40    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DexCom Inc                           | DEXCOM            | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      2778 | NS      | $174458.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc               | DIAMONDBACK ENER  | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      1616 | NS      | $319628.64    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                         | DOORDASH INC-A    | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      1849 | NS      | $277627.35    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc.                            | EBAY INC          | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |      3897 | NS      | $354704.94    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc.                 | ELECTRONIC ARTS   | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      1899 | NS      | $387149.13    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                         | EXELON CORP       | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      9097 | NS      | $445934.94    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                   | META PLATFORMS-A  | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     19520 | NS      | $11167977.60  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                         | FASTENAL CO       | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |      9863 | NS      | $457643.20    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                         | FORTINET INC      | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      5839 | NS      | $477163.08    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Healthcare Technologies Inc.      | GE HEALTHCARE TE  | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |      3895 | NS      | $277246.10    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                 | GILEAD SCIENCES   | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     11726 | NS      | $1634252.62   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc.         | HONEYWELL INTL    | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      5570 | NS      | $1258987.10   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc.              | IDEXX LABS        | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |       640 | NS      | $359609.60    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corporation                    | INTEL CORP        | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     36516 | NS      | $1611451.08   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                           | INTUIT INC        | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      2294 | NS      | $991879.72    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc.              | INTUITIVE SURGIC  | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      2934 | NS      | $1352544.66   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                            | KLA CORP          | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      1143 | NS      | $1682964.63   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                 | KEURIG DR PEPPER  | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |      9814 | NS      | $258402.62    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kraft Heinz Co.                  | KRAFT HEINZ CO/T  | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |      6948 | NS      | $156260.52    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corporation             | LAM RESEARCH      | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     10663 | NS      | $2278256.58   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International, Inc.         | MARRIOTT INTL-A   | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      1907 | NS      | $623722.49    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc               | MARVELL TECHNOLO  | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7758 | NS      | $768429.90    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercadolibre Inc                     | MERCADOLIBRE INC  | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       387 | NS      | $669130.74    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                      | MICROSOFT CORP    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     65948 | NS      | $24411971.16  | 3.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategy Inc.                        | STRATEGY INC      | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      1456 | NS      | $181708.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated    | MICROCHIP TECH    | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      4393 | NS      | $283831.73    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc.               | MICRON TECH       | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      9705 | NS      | $3278737.20   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc.          | MONDELEZ INTER-A  | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     11397 | NS      | $656923.08    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp                | MONSTER BEVERAGE  | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      5868 | NS      | $425195.28    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                        | NETFLIX INC       | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     42971 | NS      | $4131661.65   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                         | NVIDIA CORP       | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    209768 | NS      | $36583539.20  | 5.78%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc.             | O'REILLY AUTOMOT  | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      7766 | NS      | $716879.46    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc.       | OLD DOMINION FRT  | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      1498 | NS      | $292709.20    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Paccar Inc                           | PACCAR INC        | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |      4545 | NS      | $524947.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc            | PALANTIR TECHN-A  | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     36351 | NS      | $5317424.28   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc               | PALO ALTO NETWOR  | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      5684 | NS      | $911258.88    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                          | PAYCHEX INC       | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |      2735 | NS      | $251948.20    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Inc.                 | PAYPAL HOLDINGS   | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      8397 | NS      | $379796.31    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                          | PEPSICO INC       | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     14410 | NS      | $2237728.90   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc.                    | PDD HOLDINGS INC  | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |      5526 | NS      | $564646.68    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                        | QUALCOMM INC      | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      9821 | NS      | $1264748.38   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.      | REGENERON PHARM   | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       941 | NS      | $727054.24    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc               | ROPER TECHNOLOGI  | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |       902 | NS      | $319181.72    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                      | ROSS STORES INC   | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |      2760 | NS      | $597898.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandisk Corporation                  | SANDISK CORP      | CUSIP: 80004C200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1190 | NS      | $756054.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                      | STARBUCKS CORP    | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     10065 | NS      | $901723.35    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                         | SYNOPSYS INC      | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      1535 | NS      | $608596.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                      | T-MOBILE US INC   | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      4811 | NS      | $1010454.33   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                            | TESLA INC         | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     26964 | NS      | $10023867.00  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc.               | TEXAS INSTRUMENT  | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      7695 | NS      | $1493907.30   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics, Inc.               | VERISK ANALYTI    | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      1142 | NS      | $216694.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Incorporated  | VERTEX PHARM      | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      2675 | NS      | $1194494.50   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                          | WALMART INC       | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     37055 | NS      | $4605195.40   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp.                | WESTERN DIGITAL   | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |      3015 | NS      | $815527.35    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                          | WORKDAY INC-A     | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      1766 | NS      | $229438.72    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                      | XCEL ENERGY INC   | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |      5324 | NS      | $422938.56    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BBH SWEEP VEHICLE                    | BBH SWEEP VEHICLE | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        | 375594167 | PA      | $375594167.10 | 59.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners PLC   | COCA-COLA EUROPA  | CUSIP: G25839104<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |      1767 | NS      | $160213.89    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                            | LINDE PLC         | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      4848 | NS      | $2403444.48   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PLC      | SEAGATE TECHNOLO  | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | IE        |      1643 | NS      | $643661.68    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                | NXP SEMICONDUCTO  | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |      2178 | NS      | $428761.08    | 0.07%             |  |  |  | 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