# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0000910472-26-003423
**Filing Date:** 2026-2
**Character Count:** 26420
**Document Hash:** 5fff20d1f11f2d3185bc88ef9fca4036
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-003423.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000910472-26-003423

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**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:** 26699646

**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

### Counterpoint Quantitative Equity ETF (Series ID: S000083027)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000246525 | Counterpoint Quantitative Equity ETF | CPAI            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **COUNTERPOINT HIGH YIELD TREND ETF** | **COUNTERPOINT HIGH YIELD TREND ETF** | **COUNTERPOINT HIGH YIELD TREND ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 99.4%** |  |
|  | **FIXED INCOME - 99.4%** |  |
| 2464906 | iShares Broad USD High Yield Corporate Bond ETF | $92175160 |
| 858061 | iShares iBoxx $ High Yield Corporate Bond ETF | 69185458 |
| 712042 | SPDR Bloomberg High Yield Bond ETF<sup>(a)</sup> | 69217603 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $226,559,385)** | 230578221 |
|  | **SHORT-TERM INVESTMENTS — 18.7%** |  |
|  | **COLLATERAL FOR SECURITIES LOANED - 18.7%** |  |
| 43322625 | Fidelity Investments Money Market Government Portfolio, Institutional Class, 3.73% (Cost $43,322,625)<sup>(b),(c)</sup> | 43322625 |
|  | **TOTAL INVESTMENTS - 118.1% (Cost $269,882,010)** | $273900846 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (18.1)%** | (42068125) |
|  | **NET ASSETS - 100.0%** | $231832721 |

---

ETF - Exchange-Traded Fund <br> SPDR - Standard & Poor's Depositary Receipt <br>

<sup>(a)</sup> All or a portion of the security is on loan. The total fair value of the securities on loan as of December 31, 2025 was $42,432,165.

<sup>(b)</sup> Security was purchased with cash received as collateral for securities on loan at December 31, 2025. Total collateral had a value of $43,322,625 at December 31, 2025.

---

| | | |
|:---|:---|:---|
| **COUNTERPOINT QUANTITATIVE EQUITY ETF** | **COUNTERPOINT QUANTITATIVE EQUITY ETF** | **COUNTERPOINT QUANTITATIVE EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 100.3%** |  |
|  | **AEROSPACE & DEFENSE - 4.0%** |  |
| 4982 | Elbit Systems Ltd. | $2878151 |
| 13942 | Howmet Aerospace, Inc. | 2858389 |
|  |  | 5736540 |
|  | **AUTOMOTIVE - 6.1%** |  |
| 165116 | Garrett Motion, Inc. | 2877972 |
| 1041726 | Microvast Holdings, Inc.<sup>(a)</sup> | 2916833 |
| 688641 | Solid Power, Inc.<sup>(a)</sup> | 2926724 |
|  |  | 8721529 |
|  | **BIOTECH & PHARMA - 4.0%** |  |
| 132016 | Roivant Sciences Ltd.<sup>(a)</sup> | 2864747 |
| 228996 | Viatris, Inc. | 2851000 |
|  |  | 5715747 |
|  | **CABLE & SATELLITE - 2.0%** |  |
| 256928 | Liberty Global Ltd., Class A<sup>(a)</sup> | 2862178 |
|  | **CHEMICALS - 4.0%** |  |
| 207440 | FMC Corporation | 2877193 |
| 34999 | Qnity Electronics, Inc. | 2857668 |
|  |  | 5734861 |
|  | **COMMERCIAL SUPPORT SERVICES - 4.0%** |  |
| 181313 | AMN Healthcare Services, Inc.<sup>(a)</sup> | 2857493 |
| 160310 | Enviri Corporation<sup>(a)</sup> | 2872755 |
|  |  | 5730248 |
|  | **CONSUMER SERVICES - 2.0%** |  |
| 173515 | NIQ Global Intelligence PLC<sup>(a)</sup> | 2861262 |
|  | **ENGINEERING & CONSTRUCTION - 2.0%** |  |
| 8409 | Dycom Industries, Inc.<sup>(a)</sup> | 2841401 |
|  | **FOOD - 2.0%** |  |
| 221729 | Herbalife Ltd.<sup>(a)</sup> | 2858087 |
|  | **HEALTH CARE FACILITIES & SERVICES - 8.0%** |  |
| 352368 | Aveanna Healthcare Holdings, Inc.<sup>(a)</sup> | 2878847 |

---

---

| | | |
|:---|:---|:---|
| **COUNTERPOINT QUANTITATIVE EQUITY ETF** | **COUNTERPOINT QUANTITATIVE EQUITY ETF** | **COUNTERPOINT QUANTITATIVE EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 100.3% (Continued)** |  |
|  | **HEALTH CARE FACILITIES & SERVICES - 8.0% (Continued)** |  |
| 76495 | BrightSpring Health Services, Inc.<sup>(a)</sup> | $2864738 |
| 267483 | Brookdale Senior Living, Inc.<sup>(a)</sup> | 2886141 |
| 69398 | Centene Corporation<sup>(a)</sup> | 2855728 |
|  |  | 11485454 |
|  | **HOUSEHOLD PRODUCTS - 2.0%** |  |
| 924112 | Coty, Inc., Class A<sup>(a)</sup> | 2846265 |
|  | **INSURANCE - 2.0%** |  |
| 147743 | Slide Insurance Holdings, Inc.<sup>(a)</sup> | 2878034 |
|  | **INTERNET MEDIA & SERVICES - 2.0%** |  |
| 9152 | Alphabet, Inc., Class A | 2864576 |
|  | **MEDICAL EQUIPMENT & DEVICES - 4.0%** |  |
| 87580 | Axogen, Inc.<sup>(a)</sup> | 2866493 |
| 99470 | Tactile Systems Technology, Inc.<sup>(a)</sup> | 2884630 |
|  |  | 5751123 |
|  | **METALS & MINING - 10.1%** |  |
| 33560 | Anglogold Ashanti PLC | 2861997 |
| 65795 | Barrick Mining Corporation | 2865372 |
| 57260 | MP Materials Corporation<sup>(a)</sup> | 2892775 |
| 28614 | Newmont Corporation | 2857108 |
| 554109 | NioCorp Developments Ltd.<sup>(a)</sup> | 2936778 |
|  |  | 14414030 |
|  | **OIL & GAS PRODUCERS - 4.0%** |  |
| 96717 | Delek US Holdings, Inc. | 2868626 |
| 104897 | PBF Energy, Inc., Class A | 2844807 |
|  |  | 5713433 |
|  | **RENEWABLE ENERGY - 4.0%** |  |
| 254192 | Eos Energy Enterprises, Inc.<sup>(a)</sup> | 2913040 |
| 99921 | SolarEdge Technologies, Inc.<sup>(a)</sup> | 2882721 |
|  |  | 5795761 |

---

---

| | | |
|:---|:---|:---|
| **COUNTERPOINT QUANTITATIVE EQUITY ETF** | **COUNTERPOINT QUANTITATIVE EQUITY ETF** | **COUNTERPOINT QUANTITATIVE EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 100.3% (Continued)** |  |
|  | **RETAIL - CONSUMER STAPLES - 2.0%** |  |
| 23315 | Dollar Tree, Inc.<sup>(a)</sup> | $2867978 |
|  | **RETAIL - DISCRETIONARY - 4.0%** |  |
| 73323 | Advance Auto Parts, Inc. | 2881594 |
| 111338 | National Vision Holdings, Inc.<sup>(a)</sup> | 2874747 |
|  |  | 5756341 |
|  | **SEMICONDUCTORS - 4.0%** |  |
| 10059 | Micron Technology, Inc. | 2870939 |
| 24267 | Tower Semiconductor Ltd.<sup>(a)</sup> | 2849431 |
|  |  | 5720370 |
|  | **SOFTWARE - 10.1%** |  |
| 175967 | Accelerant Holdings<sup>(a)</sup> | 2877060 |
| 81663 | Clear Secure, Inc., Class A | 2864738 |
| 576408 | Digital Turbine, Inc.<sup>(a)</sup> | 2882040 |
| 61953 | Hinge Health, Inc.<sup>(a)</sup> | 2877717 |
| 183755 | Omada Health, Inc.<sup>(a)</sup> | 2899654 |
|  |  | 14401209 |
|  | **TECHNOLOGY SERVICES - 10.0%** |  |
| 113951 | Chime Financial, Inc.<sup>(a)</sup> | 2868147 |
| 148972 | CompoSecure, Inc.<sup>(a)</sup> | 2872180 |
| 42585 | Fiserv, Inc.<sup>(a)</sup> | 2860434 |
| 99851 | Klarna Group PLC<sup>(a)</sup> | 2886693 |
| 250853 | Terawulf, Inc.<sup>(a)</sup> | 2882301 |
|  |  | 14369755 |
|  | **TRANSPORTATION & LOGISTICS - 4.0%** |  |
| 85057 | Okeanis Eco Tankers Corporation | 2878329 |
| 135321 | ZIM Integrated Shipping Services Ltd. | 2872865 |
|  |  | 5751194 |
|  | **TOTAL COMMON STOCKS (Cost $143,125,704)** | 143677376 |
|  | **TOTAL INVESTMENTS - 100.3% (Cost $143,125,704)** | $143677376 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3)%** | (492087) |
|  | **NET ASSETS - 100.0%** | $143185289 |

---

---

| | |
|:---|:---|
| Ltd. | - Limited Company |
| PLC | - Public Limited Company |

---

<sup>(a)</sup> Non-income producing security.

<sup>(c)</sup> Rate disclosed is the seven day effective yield as of December 31, 2025.

## 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:** Counterpoint Quantitative Equity ETF

- **b. EDGAR series identifier (if any):** S000083027

- **c. LEI of Series:** 529900V91WU1089XRL02

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $267522155.44

**Total Liabilities:** $124336866.69

**Net Assets:** $143185288.75

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000246525 | -0.43%               | 2.57%                | 0.19%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $54633.39                | $-731313.24                                |
| Month 2  | $0.00                    | $3326822.24                                |
| Month 3  | $5119762.47              | $-5145834.35                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMN Healthcare Services Inc          | AMN HEALTHCARE     | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |    181313 | NS      | $2857492.88   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Advance Auto Parts Inc.              | ADVANCE AUTO PAR   | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |     73323 | NS      | $2881593.90   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                        | ALPHABET INC-A     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      9152 | NS      | $2864576.00   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Aveanna Healthcare Holdings Inc      | AVEANNA HEALTHCA   | CUSIP: 05356F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    352368 | NS      | $2878846.56   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AxoGen Inc.                          | AXOGEN INC         | CUSIP: 05463X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     87580 | NS      | $2866493.40   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp.                 | BARRICK MINING C   | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     65795 | NS      | $2865372.25   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BrightSpring Health Services Inc.    | BRIGHTSPRING HEA   | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76495 | NS      | $2864737.75   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookdale Senior Living Inc.         | BROOKDALE SR       | CUSIP: 112463104<br>LEI: LH7MQB13NWY7CJ9VC445 | Long             | EC               | CORP              | US        |    267483 | NS      | $2886141.57   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp.                        | CENTENE CORP       | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |     69398 | NS      | $2855727.70   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Chime Financial Inc.                 | CHIME FINANCI-A    | CUSIP: 16935C109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    113951 | NS      | $2868146.67   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc                     | CLEAR SECURE I-A   | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     81663 | NS      | $2864738.04   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Composecure Inc                      | COMPOSECURE IN-A   | CUSIP: 20459V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    148972 | NS      | $2872180.16   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Coty Inc.                            | COTY INC-CL A      | CUSIP: 222070203<br>LEI: 549300BO9IWPF3S48F93 | Long             | EC               | CORP              | US        |    924112 | NS      | $2846264.96   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Delek US Holdings Inc.               | DELEK US HOLDING   | CUSIP: 24665A103<br>LEI: 5493003O53JMENV1N385 | Long             | EC               | CORP              | US        |     96717 | NS      | $2868626.22   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Turbine, Inc.                | DIGITAL TURBINE    | CUSIP: 25400W102<br>LEI: 549300D0WZR1VI2QGB24 | Long             | EC               | CORP              | US        |    576408 | NS      | $2882040.00   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                      | DOLLAR TREE INC    | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |     23315 | NS      | $2867978.15   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries, Inc.               | DYCOM INDS         | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |      8409 | NS      | $2841401.10   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Eos Energy Enterprises Inc.          | EOS ENERGY ENTER   | CUSIP: 29415C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    254192 | NS      | $2913040.32   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FMC Corp.                            | FMC CORP           | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |    207440 | NS      | $2877192.80   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc.                          | FISERV INC         | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     42585 | NS      | $2860434.45   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Garrett Motion Inc                   | GARRETT MOTION INC | CUSIP: 366505105<br>LEI: 549300LS5WT7EMBNV724 | Long             | EC               | CORP              | US        |    165116 | NS      | $2877971.88   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Enviri Corp.                         | ENVIRI CORP        | CUSIP: 415864107<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | EC               | CORP              | US        |    160310 | NS      | $2872755.20   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hinge Health, Inc.                   | HINGE HEALTH-A     | CUSIP: 433313103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61953 | NS      | $2877716.85   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                 | HOWMET AEROSPACE   | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     13942 | NS      | $2858388.84   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp                    | MP MATERIALS COR   | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |     57260 | NS      | $2892775.20   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc.               | MICRON TECH        | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     10059 | NS      | $2870939.19   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Microvast Holdings Inc.              | MICROVAST HOLDIN   | CUSIP: 59516C106<br>LEI: 549300J4UX9OMHSTKS35 | Long             | EC               | CORP              | US        |   1041726 | NS      | $2916832.80   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| National Vision Holdings Inc         | NATIONAL VISION    | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |    111338 | NS      | $2874747.16   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation                  | NEWMONT CORP       | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     28614 | NS      | $2857107.90   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Niocorp Developments Ltd             | NIOCORP DEVELOPM   | CUSIP: 654484609<br>LEI: 5299001QL26XJPOD3A17 | Long             | EC               | CORP              | CA        |    554109 | NS      | $2936777.70   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Omada Health Inc.                    | OMADA HEALTH INC   | CUSIP: 68170A108<br>LEI: 5299008WYNYU33NFKF88 | Long             | EC               | CORP              | US        |    183755 | NS      | $2899653.90   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy Inc                       | PBF ENERGY INC-A   | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |    104897 | NS      | $2844806.64   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Qnity Electronics Inc.               | QNITY ELECTRONIC   | CUSIP: 74743L100<br>LEI: 254900RSUG4J9TFFZX53 | Long             | EC               | CORP              | US        |     34999 | NS      | $2857668.35   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Slide Insurance Holdings Inc.        | SLIDE INSURANCE    | CUSIP: 831349105<br>LEI: 2549004LDWZTPC69SX47 | Long             | EC               | CORP              | US        |    147743 | NS      | $2878033.64   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaredge Technologies Inc           | SOLAREDGE TECHNO   | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | US        |     99921 | NS      | $2882720.85   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Solid Power Inc                      | SOLID POWER INC    | CUSIP: 83422N105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    688641 | NS      | $2926724.25   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tactile Systems Technology Inc.      | TACTILE SYSTEMS    | CUSIP: 87357P100<br>LEI: 54930069VDTITHOTKJ98 | Long             | EC               | CORP              | US        |     99470 | NS      | $2884630.00   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Terawulf Inc                         | TERAWULF INC       | CUSIP: 88080T104<br>LEI: 254900CVMW1SX2T78A64 | Long             | EC               | CORP              | US        |    250853 | NS      | $2882300.97   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                          | VIATRIS INC        | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |    228996 | NS      | $2851000.20   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Okeanis Eco Tankers Corp             | OKEANIS ECO TANK   | CUSIP: Y64177101<br>LEI: 213800U35RCYXTKVEM65 | Long             | EC               | CORP              | MH        |     85057 | NS      | $2878328.88   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Accelerant Holdings                  | ACCELERANT HOL-A   | CUSIP: G00894108<br>LEI: 529900G48AUHCKJ6EU64 | Long             | EC               | CORP              | KY        |    175967 | NS      | $2877060.45   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti PLC                | ANGLOGOLD ASHANT   | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |     33560 | NS      | $2861996.80   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Ltd.                       | HERBALIFE LTD      | CUSIP: G4412G101<br>LEI: 549300BA7TYPBSZZIA41 | Long             | EC               | CORP              | KY        |    221729 | NS      | $2858086.81   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Klarna Group PLC                     | KLARNA GROUP PLC   | CUSIP: G5279N105<br>LEI: 636700HER4JIK7GZUN17 | Long             | EC               | CORP              | GB        |     99851 | NS      | $2886692.41   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Global Ltd.                  | LIBERTY GLOBAL-A   | CUSIP: G61188101<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | BM        |    256928 | NS      | $2862177.92   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NIQ Global Intelligence PLC          | NIQ GLOBAL INTEL   | CUSIP: G63755105<br>LEI: 529900Z0P0XAM4O3H416 | Long             | EC               | CORP              | IE        |    173515 | NS      | $2861262.35   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Roivant Sciences Ltd                 | ROIVANT SCIENCES   | CUSIP: G76279101<br>LEI: 549300DL466NY5J6U724 | Long             | EC               | CORP              | BM        |    132016 | NS      | $2864747.20   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Elbit Systems Ltd                    | ELBIT SYSTEMS      | CUSIP: M3760D101<br>LEI: 529900Q9CB1REUMZSS32 | Long             | EC               | CORP              | IL        |      4982 | NS      | $2878151.22   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tower Semiconductor Limited          | TOWER SEMICONDCT   | CUSIP: M87915274<br>LEI: 54930086ZSNXZOUX0C54 | Long             | EC               | CORP              | IL        |     24267 | NS      | $2849431.14   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIM Integrated Shipping Services Ltd | ZIM INTEGRATED S   | CUSIP: M9T951109<br>LEI: 21380089EIJRELKAIL21 | Long             | EC               | CORP              | IL        |    135321 | NS      | $2872864.83   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-28

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

**Signature:** Rich Gleason

**Name of Signer:** Rich Gleason

**Title:** Treasurer