# EDGAR Filing Document

**Accession Number:** 0001537140
**File Stem:** 0000910472-26-007914
**Filing Date:** 2026-5
**Character Count:** 98511
**Document Hash:** 4225135b150960cef2d999404b2661a0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-007914.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000910472-26-007914

**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:** 261032234

**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 Tactical Equity Fund (Series ID: S000051248)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000161620 | Counterpoint Tactical Equity Fund Class A Shares | CPAEX           |
| C000161621 | Counterpoint Tactical Equity Fund Class C Shares | CPCEX           |
| C000161622 | Counterpoint Tactical Equity Fund Class I Shares | CPIEX           |

## 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 Tactical Equity Fund

- **b. EDGAR series identifier (if any):** S000051248

- **c. LEI of Series:** 549300NNOS65VHRUYC83

**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:** $1319567509.17

**Total Liabilities:** $723917331.53

**Net Assets:** $595650177.64

**Cash Not Reported:** $11728807.24

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161620 | 2.75%                | -0.35%               | -3.77%               |
| Class ID C000161621 | 2.68%                | -0.42%               | -3.84%               |
| Class ID C000161622 | 2.73%                | -0.34%               | -3.73%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $77190.59                | $10639105.99                               |
| Month 2  | $2159897.38              | $2593221.56                                |
| Month 3  | $7551370.99              | $-22500234.66                              |

**Designated Index Information**

- **Index Name:** S&P 500 (TR)

- **Index Identifier:** 500TR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ACV Auctions Inc                           | ACV AUCTIONS-A                | CUSIP: 00091G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200664 | NS      | $850815.36    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| AMN Healthcare Services Inc                | AMN HEALTHCARE                | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |     47052 | NS      | $862933.68    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Gold.com Inc.                              | GOLD.COM INC                  | CUSIP: 00181T107<br>LEI: XP6XYFDZQGKLUMOFGT37 | Long             | EC               | CORP              | US        |     20115 | NS      | $806209.20    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Asgn Incorporated                          | ASGN INC                      | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               | CORP              | US        |      7648 | NS      | $296054.08    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Acadia Healthcare Company, Inc.            | ACADIA HEALTHCAR              | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |     23483 | NS      | $549267.37    | 0.09%             |  |  |  | No            | 1                  | On Loan: —       |
| ADTRAN Holdings Inc                        | ADTRAN HOLDINGS               | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |     32721 | NS      | $411630.18    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| AECOM                                      | AECOM                         | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |      6469 | NS      | $548700.58    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Advanced Micro Devices Inc.                | ADV MICRO DEVICE              | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      2735 | NS      | $556381.05    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Advanced Energy Industries, Inc.           | ADV ENERGY INDS               | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |      1760 | NS      | $567969.60    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Alaska Air Group Inc.                      | ALASKA AIR GROUP              | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |      5816 | NS      | $213912.48    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Albertsons Companies Inc.                  | ALBERTSONS COS-A              | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |     50900 | NS      | $867336.00    | 0.15%             |  |  |  | No            | 1                  | On Loan: —       |
| Ally Financial Inc.                        | ALLY FINANCIAL I              | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |      8115 | NS      | $318351.45    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Ameresco Inc                               | AMERESCO INC-A                | CUSIP: 02361E108<br>LEI: 529900NZXZGBCBXYY327 | Long             | EC               | CORP              | US        |     30859 | NS      | $786904.50    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Cencora Inc                                | CENCORA INC                   | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      1774 | NS      | $557284.36    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Amkor Technology, Inc.                     | AMKOR TECH INC                | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |     12084 | NS      | $544142.52    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Amprius Technologies Inc.                  | AMPRIUS TECHNOLO              | CUSIP: 03214Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32490 | NS      | $547781.40    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Antero Resources Corporation               | ANTERO RESOURCES              | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |      8515 | NS      | $361376.60    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Archer Aviation Inc                        | ARCHER AVIATIO-A              | CUSIP: 03945R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45768 | NS      | $236620.56    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Arista Networks Inc                        | ARISTA NETWORKS               | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      4498 | NS      | $552264.44    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Arko Petroleum Corp.                       | ARKO PETROLEUM C              | CUSIP: 04124A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32124 | NS      | $574698.36    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Asana Inc                                  | ASANA INC- CL A               | CUSIP: 04342Y104<br>LEI: 254900X7UAJNMLPLZ510 | Long             | EC               | CORP              | US        |     92371 | NS      | $591174.40    | 0.10%             |  |  |  | No            | 1                  | On Loan: —       |
| Astec Industries Inc.                      | ASTEC INDUSTRIES              | CUSIP: 046224101<br>LEI: 5493002DO2QKHLKB2A48 | Long             | EC               | CORP              | US        |     10625 | NS      | $572050.00    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Astera Labs Inc                            | ASTERA LABS INC               | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               | CORP              | US        |      4840 | NS      | $530464.00    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Atlassian Corporation                      | ATLASSIAN CORP-A              | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |      4196 | NS      | $286377.00    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Automatic Data Processing, Inc.            | AUTOMATIC DATA                | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      2778 | NS      | $564434.04    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Aveanna Healthcare Holdings Inc            | AVEANNA HEALTHCA              | CUSIP: 05356F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42905 | NS      | $276308.20    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Avnet, Inc.                                | AVNET INC                     | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |      4961 | NS      | $305696.82    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Babcock & Wilcox Enterprises Inc.          | BABCOCK & WILCOX              | CUSIP: 05614L209<br>LEI: 5493006H661OZN2C0T54 | Long             | EC               | CORP              | US        |     37231 | NS      | $546923.39    | 0.09%             |  |  |  | No            | 1                  | On Loan: —       |
| Ballard Power Systems Inc.                 | BALLARD POWER                 | CUSIP: 058586108<br>LEI: 549300OHZ8BMF53YYS26 | Long             | EC               | CORP              | CA        |    226531 | NS      | $548205.02    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America Corp.                      | BANK OF AMERICA               | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      6117 | NS      | $298203.75    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Bed Bath & Beyond Inc.                     | BED BATH & BEYON              | CUSIP: 075896159<br>LEI: 549300ACR0DL9U7EI710 | Long             | DO               | CORP              | US        |      9696 | NS      | $5444.30      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| BellRing Intermediate Holdings Inc.        | BELLRING BRANDS               | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |     38057 | NS      | $612337.13    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Boston Scientific Corporation              | BOSTON SCIENTIFC              | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |      4016 | NS      | $252004.00    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadcom Inc                               | BROADCOM INC                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1812 | NS      | $560832.12    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Brookdale Senior Living Inc.               | BROOKDALE SR                  | CUSIP: 112463104<br>LEI: LH7MQB13NWY7CJ9VC445 | Long             | EC               | CORP              | US        |     40805 | NS      | $558212.40    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Azenta Inc                                 | AZENTA INC                    | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |     26306 | NS      | $555845.78    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Butterfly Network Inc                      | BUTTERFLY NETWOR              | CUSIP: 124155102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    134954 | NS      | $545214.16    | 0.09%             |  |  |  | No            | 1                  | On Loan: —       |
| CECO Environmental Corp.                   | CECO ENVIRONMNTL              | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |     14744 | NS      | $878447.52    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| CVR Energy Inc.                            | CVR ENERGY INC                | CUSIP: 12662P108<br>LEI: 529900SOYZIXZBTXB558 | Long             | EC               | CORP              | US        |     16517 | NS      | $555797.05    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| CVS Health Corp                            | CVS HEALTH CORP               | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      7941 | NS      | $570322.62    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Caesars Entertainment Inc.                 | CAESARS ENTERTAI              | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |     21276 | NS      | $562324.68    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| CAVA Group Inc.                            | CAVA GROUP INC                | CUSIP: 148929102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6994 | NS      | $565814.60    | 0.09%             |  |  |  | No            | 1                  | On Loan: —       |
| Celanese Corporation                       | CELANESE CORP                 | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Long             | EC               | CORP              | US        |      6389 | NS      | $420204.53    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Centene Corp.                              | CENTENE CORP                  | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |     17210 | NS      | $563455.40    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Century Aluminum Company                   | CENTURY ALUMINUM              | CUSIP: 156431108<br>LEI: 549300U5ODNGEYWKSW73 | Long             | EC               | CORP              | US        |     11586 | NS      | $679982.34    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Chewy Inc                                  | CHEWY INC- CL A               | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |     11852 | NS      | $320004.00    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Cleveland-Cliffs Inc                       | CLEVELAND-CLIFFS              | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |     97669 | NS      | $825303.05    | 0.14%             |  |  |  | No            | 1                  | On Loan: —       |
| Coeur Mining Inc                           | COEUR MINING INC              | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |     34639 | NS      | $650174.03    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Cogent Communications Holdings, Inc.       | COGENT COMMUNICA              | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18123 | NS      | $341437.32    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Cognex Corp                                | COGNEX CORP                   | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |     17220 | NS      | $843607.80    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Enovis Corporation                         | ENOVIS CORP                   | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |     24787 | NS      | $563904.25    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Comfort Systems USA Inc.                   | COMFORT SYSTEMS               | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |       225 | NS      | $310272.75    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Comcast Corporation                        | COMCAST CORP-A                | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      9938 | NS      | $285319.98    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Concentra Group Holdings Parent Inc        | CONCENTRA GROUP               | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12753 | NS      | $273551.85    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Corecivic Inc                              | CORECIVIC INC                 | CUSIP: 21871N101<br>LEI: 529900JFA3K6PTLT8B15 | Long             | EC               | CORP              | US        |     28528 | NS      | $539464.48    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Core Scientific Inc                        | CORE SCIENTIFIC               | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               | CORP              | US        |     19394 | NS      | $290134.24    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Corsair Gaming Inc                         | CORSAIR GAMING I              | CUSIP: 22041X102<br>LEI: 549300Y7YT18L8G0H525 | Long             | EC               | CORP              | US        |    101551 | NS      | $563608.05    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| DXC Technology Company                     | DXC TECHNOLOGY C              | CUSIP: 23355L106<br>LEI: 549300DOVZ3EDJB7O259 | Long             | EC               | CORP              | US        |     46830 | NS      | $588653.10    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Dana Inc.                                  | DANA INC                      | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               | CORP              | US        |      9635 | NS      | $324217.75    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Deckers Outdoor Corp.                      | DECKERS OUTDOOR               | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |      5932 | NS      | $593733.88    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Delek US Holdings Inc.                     | DELEK US HOLDING              | CUSIP: 24665A103<br>LEI: 5493003O53JMENV1N385 | Long             | EC               | CORP              | US        |      8516 | NS      | $383816.12    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Denison Mines Corp                         | DENISON MINES CO              | CUSIP: 248356107<br>LEI: 529900JWGSW17LJK6586 | Long             | EC               | CORP              | CA        |    245426 | NS      | $866353.78    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Digital Turbine, Inc.                      | DIGITAL TURBINE               | CUSIP: 25400W102<br>LEI: 549300D0WZR1VI2QGB24 | Long             | EC               | CORP              | US        |     84339 | NS      | $242896.32    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Diversified Energy Co.                     | DIVERSIFIED ENER              | CUSIP: 25520W107<br>LEI: 529900XTQ3OKXR6P0H74 | Long             | EC               | CORP              | US        |     22606 | NS      | $394248.64    | 0.07%             |  |  |  | No            | 1                  | On Loan: —       |
| Dollar General Corporation                 | DOLLAR GENERAL C              | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |      6780 | NS      | $804989.40    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Dollar Tree Inc                            | DOLLAR TREE INC               | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |      2538 | NS      | $277936.38    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                        | DREYFUS TREASURY & AGENCY LEX | CUSIP: 261908107<br>LEI: N/A                  | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Dycom Industries, Inc.                     | DYCOM INDS                    | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |      1657 | NS      | $561424.74    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Dynatrace Inc                              | DYNATRACE INC                 | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |      8758 | NS      | $323870.84    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Eagle Bancorp Inc                          | EAGLE BANCRP INC              | CUSIP: 268948106<br>LEI: 549300B47NZODRMG3D47 | Long             | EC               | CORP              | US        |     35358 | NS      | $879353.46    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| EchoStar Corp.                             | ECHOSTAR CORP-A               | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |      8163 | NS      | $955642.41    | 0.16%             |  |  |  | No            | 1                  | On Loan: —       |
| Encore Capital Group Inc.                  | ENCORE CAPITAL G              | CUSIP: 292554102<br>LEI: 5493000UVC6H49CIH830 | Long             | EC               | CORP              | US        |      8096 | NS      | $567691.52    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Endeavour Silver Corp.                     | ENDEAVOUR SILVER CORP         | CUSIP: 29258Y103<br>LEI: 549300IF2E29780PPV02 | Long             | EC               | CORP              | CA        |     89549 | NS      | $833701.19    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Energy Fuels Inc.                          | ENERGY FUELS INC              | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | CA        |     31909 | NS      | $582339.25    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Energy Transfer LP                         | ENERGY TRANSFER               | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |     16573 | NS      | $319858.90    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| EnerSys                                    | ENERSYS                       | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |      1919 | NS      | $333368.68    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Ensign Group Inc                           | ENSIGN GROUP INC              | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |      1408 | NS      | $283712.00    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Enterprise Products Partners L.P.          | ENTERPRISE PRODU              | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |      8463 | NS      | $320239.92    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Equitable Holdings Inc                     | EQUITABLE HOLDIN              | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |      7644 | NS      | $283668.84    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Evertec Inc                                | EVERTEC INC                   | CUSIP: 30040P103<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     20207 | NS      | $570241.54    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| ExlService Holdings Inc.                   | EXLSERVICE HOLDI              | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     18750 | NS      | $570937.50    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Expedia Group Inc                          | EXPEDIA GROUP IN              | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |      2442 | NS      | $563833.38    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Extreme Networks Inc.                      | EXTREME NETWORKS              | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |     36640 | NS      | $552531.20    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| EZCORP Inc.                                | EZCORP INC-A                  | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |     22604 | NS      | $573689.52    | 0.10%             |  |  |  | No            | 1                  | On Loan: —       |
| Flywire Corporation                        | FLYWIRE CORP-VOT              | CUSIP: 302492103<br>LEI: 54930055DSV7NNY4VY66 | Long             | EC               | CORP              | US        |     46984 | NS      | $546893.76    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Fastly Inc.                                | FASTLY INC -CL A              | CUSIP: 31188V100<br>LEI: 549300E2FZC83FJ3H565 | Long             | EC               | CORP              | US        |     18264 | NS      | $530751.84    | 0.09%             |  |  |  | No            | 1                  | On Loan: —       |
| FedEx Corporation                          | FEDEX CORP                    | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |      2423 | NS      | $863024.14    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity Colchester Street Trust           | FID-TRSY PT-I                 | CUSIP: 316175504<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        | 295695194 | PA      | $295695194.38 | 49.64%            |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity National Information Services Inc | FIDELITY NATIONA              | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     11985 | NS      | $562216.35    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Fiserv Inc.                                | FISERV INC                    | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     15281 | NS      | $852679.80    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Fluence Energy Inc                         | FLUENCE ENERGY I              | CUSIP: 34379V103<br>LEI: 25490043LHZ97BT5PP29 | Long             | EC               | CORP              | US        |     36622 | NS      | $503918.72    | 0.08%             |  |  |  | No            | 1                  | On Loan: —       |
| Fortrea Holdings Inc.                      | FORTREA HOLDINGS              | CUSIP: 34965K107<br>LEI: 5493000FIVFABOVCDU97 | Long             | EC               | CORP              | US        |     30860 | NS      | $290701.20    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Forward Air Corp.                          | FORWARD AIR CORP              | CUSIP: 34986A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33550 | NS      | $560620.50    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| T1 Energy Inc.                             | T1 ENERGY INC                 | CUSIP: 35834F104<br>LEI: 529900H0645VFXNMJ693 | Long             | EC               | CORP              | US        |     89127 | NS      | $391267.53    | 0.07%             |  |  |  | No            | 1                  | On Loan: —       |
| Fulgent Genetics Inc                       | FULGENT GENETICS              | CUSIP: 359664109<br>LEI: 549300CL6P01M68QJ404 | Long             | EC               | CORP              | US        |     34306 | NS      | $545465.40    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| GCI Liberty Inc.                           | GCI LIBERTY-C                 | CUSIP: 36164V800<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8033 | NS      | $298907.93    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Gartner Inc.                               | GARTNER INC                   | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |      3682 | NS      | $583007.88    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| General Motors Company                     | GENERAL MOTORS C              | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     11463 | NS      | $853993.50    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Genesis Energy L.P.                        | GENESIS ENERGY                | CUSIP: 371927104<br>LEI: 549300VJ5D6MDK138782 | Long             | EC               | CORP              | US        |     17550 | NS      | $312916.50    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Genworth Financial Inc.                    | GENWORTH FINANCI              | CUSIP: 37247D106<br>LEI: 549300EMCG286BDNKJ33 | Long             | EC               | CORP              | US        |     36784 | NS      | $298686.08    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Globe Life Inc                             | GLOBE LIFE INC                | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |      2112 | NS      | $293927.04    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Goodyear Tire & Rubber Co. The             | GOODYEAR TIRE                 | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |    124171 | NS      | $823253.73    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Gray Media Inc.                            | GRAY MEDIA INC                | CUSIP: 389375106<br>LEI: 529900TM5726KDN7UU35 | Long             | EC               | CORP              | US        |    120944 | NS      | $524896.96    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Hallador Energy Co                         | HALLADOR ENERGY               | CUSIP: 40609P105<br>LEI: 254900GKEQRHOI2SSC19 | Long             | EC               | CORP              | US        |     17914 | NS      | $291639.92    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| The Hartford Insurance Group Inc.          | HARTFORD INSURAN              | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      2231 | NS      | $301698.13    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Heritage Insurance Holdings Inc            | HERITAGE INSURAN              | CUSIP: 42727J102<br>LEI: 9845008CCYDD87F66B45 | Long             | EC               | CORP              | US        |     11854 | NS      | $311167.50    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Hertz Global Holdings Inc.                 | HERTZ GLOBAL HLD              | CUSIP: 42806J700<br>LEI: 549300NBK3K85MH1EX16 | Long             | EC               | CORP              | US        |     71319 | NS      | $328780.59    | 0.06%             |  |  |  | No            | 1                  | On Loan: —       |
| Hinge Health, Inc.                         | HINGE HEALTH-A                | CUSIP: 433313103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7496 | NS      | $289045.76    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Horizon Bancorp Inc.                       | HORIZON BANCORP               | CUSIP: 440407104<br>LEI: 549300U2OQ2EIT5MXG39 | Long             | EC               | CORP              | US        |     18329 | NS      | $303711.53    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| HudBay Minerals Inc                        | HUDBAY MINERALS INC           | CUSIP: 443628102<br>LEI: 894500LX3TMESP27BE29 | Long             | EC               | CORP              | CA        |     29365 | NS      | $613728.50    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| IDT Corp                                   | IDT CORP-CLASS B              | CUSIP: 448947507<br>LEI: 549300JNTN7ZMJDFCL56 | Long             | EC               | CORP              | US        |     11965 | NS      | $587481.50    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Icahn Enterprises LP                       | ICAHN ENTERPRISE              | CUSIP: 451100101<br>LEI: 549300T0G4GS0SINS786 | Long             | EC               | CORP              | US        |      7207 | NS      | $54412.85     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Idacorp Inc                                | IDACORP INC                   | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |      2125 | NS      | $303811.25    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Indie Semiconductor Inc.                   | INDIE SEMICOND-A              | CUSIP: 45569U101<br>LEI: 254900L1MFXFYGB1PV53 | Long             | EC               | CORP              | US        |    169464 | NS      | $545674.08    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Ingram Micro Holding Corporation           | INGRAM MICRO HOL              | CUSIP: 457152106<br>LEI: 9845008639BC538AB065 | Long             | EC               | CORP              | US        |     15145 | NS      | $353029.95    | 0.06%             |  |  |  | No            | 1                  | On Loan: —       |
| Interface, Inc.                            | INTERFACE INC                 | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     22492 | NS      | $560500.64    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| InterDigital, Inc.                         | INTERDIGITAL INC              | CUSIP: 45867G101<br>LEI: 529900HQAUTC3VI47G64 | Long             | EC               | CORP              | US        |      1893 | NS      | $571686.00    | 0.10%             |  |  |  | No            | 1                  | On Loan: —       |
| Intuitive Machines Inc                     | INTUITIVE MACHIN              | CUSIP: 46125A100<br>LEI: 254900386IE2PEPLVM59 | Long             | EC               | CORP              | US        |     48958 | NS      | $908660.48    | 0.15%             |  |  |  | No            | 1                  | On Loan: —       |
| Ionq Inc                                   | IONQ INC                      | CUSIP: 46222L108<br>LEI: 529900RB2VEFGLQS7G28 | Long             | EC               | CORP              | US        |      8807 | NS      | $253905.81    | 0.04%             |  |  |  | No            | 1                  | On Loan: —       |
| JPMorgan Chase & Co.                       | JPMORGAN CHASE                | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1018 | NS      | $299454.88    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Jefferies Financial Group Inc              | JEFFERIES FINANC              | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |     21734 | NS      | $896962.18    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Jefferson Capital Inc.                     | JEFFERSON CAPITA              | CUSIP: 47248R103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15801 | NS      | $303853.23    | 0.05%             |  |  |  | No            | 1                  | On Loan: —       |
| Kennametal Inc                             | KENNAMETAL INC                | CUSIP: 489170100<br>LEI: 549300GZDSG25XUV0Y08 | Long             | EC               | CORP              | US        |     15968 | NS      | $576923.84    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Kimberly-Clark Corporation                 | KIMBERLY-CLARK                | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      2755 | NS      | $265774.85    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| KinderCare Learning Companies Inc          | KINDERCARE LEARN              | CUSIP: 49456W105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     86494 | NS      | $190286.80    | 0.03%             |  |  |  | No            | 1                  | On Loan: —       |
| Kohl's Corp.                               | KOHLS CORP                    | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               | CORP              | US        |     19407 | NS      | $250350.30    | 0.04%             |  |  |  | No            | 1                  | On Loan: —       |
| Kosmos Energy Ltd                          | KOSMOS ENERGY LT              | CUSIP: 500688106<br>LEI: 213800YDFJ3OT9B5P157 | Long             | EC               | CORP              | US        |    191885 | NS      | $533440.30    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Kulicke and Soffa Industries, Inc.         | KULICKE & SOFFA               | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |      8558 | NS      | $562431.76    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Las Vegas Sands Corp                       | LAS VEGAS SANDS               | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     10790 | NS      | $581365.20    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Lattice Semiconductor Corporation          | LATTICE SEMICOND              | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |      5798 | NS      | $537822.48    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Lending Club Corporation                   | LENDINGCLUB CORP              | CUSIP: 52603A208<br>LEI: 549300YC50YO7Y1OJR92 | Long             | EC               | CORP              | US        |     39698 | NS      | $568475.36    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Liberty Energy Inc                         | LIBERTY ENERGY I              | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30694 | NS      | $883987.20    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Eli Lilly & Co.                            | ELI LILLY & CO                | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       633 | NS      | $582214.41    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Lithium Americas Corp                      | LITHIUM AMERICAS              | CUSIP: 53681J103<br>LEI: 529900Q9ENG7EHHZ5R75 | Long             | EC               | CORP              | CA        |     67085 | NS      | $264985.75    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Liveramp Holdings Inc                      | LIVERAMP HOLDING              | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |     21947 | NS      | $582034.44    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Lumen Technologies Inc                     | LUMEN TECHNOLOGI              | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |    130115 | NS      | $904299.25    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Lumentum Holdings Inc.                     | LUMENTUM HOL                  | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |       466 | NS      | $327486.16    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| MKS Inc.                                   | MKS INC                       | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      2430 | NS      | $558438.30    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| MP Materials Corp                          | MP MATERIALS COR              | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |      5724 | NS      | $276240.24    | 0.05%             |  |  |  | No            | 1                  | On Loan: —       |
| Sphere Entertainment Co.                   | SPHERE ENTERTAIN              | CUSIP: 55826T102<br>LEI: 254900ZW4JWKYRZZ9A91 | Long             | EC               | CORP              | US        |      2712 | NS      | $318388.80    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| MasterCard Incorporated                    | MASTERCARD INC-A              | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      1136 | NS      | $567613.76    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Mechel Public Joint Stock Company          | MECHEL-SPON ADR               | CUSIP: 583840608<br>LEI: 253400C9GSPBSKERRP65 | Long             | EC               | CORP              | RU        |     22935 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Micron Technology Inc.                     | MICRON TECH                   | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      1558 | NS      | $526354.72    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Mission Produce Inc                        | MISSION PRODUCE               | CUSIP: 60510V108<br>LEI: 54930016JOKVFT59L825 | Long             | EC               | CORP              | US        |     21390 | NS      | $294326.40    | 0.05%             |  |  |  | No            | 1                  | On Loan: —       |
| Modine Manufacturing Co.                   | MODINE MFG CO                 | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      1452 | NS      | $314662.92    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Molson Coors Beverage Company              | MOLSON COORS-B                | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |      6333 | NS      | $272698.98    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Motorola Solutions Inc                     | MOTOROLA SOLUTIO              | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      1267 | NS      | $549839.99    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| NCR Voyix Corporation                      | NCR VOYIX CORP                | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Long             | EC               | CORP              | US        |     41348 | NS      | $261732.84    | 0.04%             |  |  |  | No            | 1                  | On Loan: —       |
| Netgear Inc                                | NETGEAR INC                   | CUSIP: 64111Q104<br>LEI: 54930067KX3UNRHDWA78 | Long             | EC               | CORP              | US        |     25622 | NS      | $559584.48    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Newell Brands Inc.                         | NEWELL BRANDS IN              | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |    159680 | NS      | $547702.40    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Newmark Group Inc                          | NEWMARK GROUP-A               | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21005 | NS      | $314864.95    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Newmont Corporation                        | NEWMONT CORP                  | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      5661 | NS      | $612803.25    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Northern Lights Fund Trust III             | COUNTERP QUAN EQ              | CUSIP: 66538R540<br>LEI: 549300PPUECJSQFBYV98 | Long             | EC               | RF                | US        |   1549616 | NS      | $64758452.64  | 10.87%            |  |  |  | No            | 1                  | On Loan: —       |
| Oil States International, Inc.             | OIL STATES INTL               | CUSIP: 678026105<br>LEI: 5493004TF4KQJGMYL777 | Long             | EC               | CORP              | US        |     73084 | NS      | $850697.76    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Ollies Bargain Outlet Holdings Inc.        | OLLIE'S BARGAIN               | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |      2908 | NS      | $267652.32    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Ondas Inc.                                 | ONDAS INC                     | CUSIP: 68236H204<br>LEI: 549300JWLHDUB82V8607 | Long             | EC               | CORP              | US        |     57662 | NS      | $521264.48    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Opendoor Technologies Inc.                 | OPENDOOR TECHNOL              | CUSIP: 683712103<br>LEI: 254900KX11YZ4HV5BQ47 | Long             | EC               | CORP              | US        |    112706 | NS      | $527464.08    | 0.09%             |  |  |  | No            | 1                  | On Loan: —       |
| Opendoor Technologies Inc.                 | OPENDOOR TECH-26 SER K        | CUSIP: 683712129<br>LEI: 254900KX11YZ4HV5BQ47 | Long             | DO               | CORP              | US        |      2100 | NS      | $1274.70      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Opendoor Technologies Inc.                 | OPENDOOR TECH-26 SER A        | CUSIP: 683712137<br>LEI: 254900KX11YZ4HV5BQ47 | Long             | DO               | CORP              | US        |      2100 | NS      | $516.60       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Opendoor Technologies Inc.                 | OPENDOOR TECH-26 SER Z        | CUSIP: 683712145<br>LEI: 254900KX11YZ4HV5BQ47 | Long             | DO               | CORP              | US        |      2100 | NS      | $494.34       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Orthofix Medical Inc                       | ORTHOFIX MEDICAL              | CUSIP: 68752M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22782 | NS      | $261309.54    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| PNC Financial Services Group Inc.          | PNC FINANCIAL SE              | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      1431 | NS      | $297776.79    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| PRA Group Inc.                             | PRA GROUP INC                 | CUSIP: 69354N106<br>LEI: 549300Q5HW3JSSB86K27 | Long             | EC               | CORP              | US        |     32416 | NS      | $567280.00    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| PENN Entertainment Inc                     | PENN ENTERTAINME              | CUSIP: 707569109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59818 | NS      | $899064.54    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Pepsico Inc                                | PEPSICO INC                   | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      5584 | NS      | $867139.36    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Plains GP Holdings LP                      | PLAINS GP HOLD-A              | CUSIP: 72651A207<br>LEI: 549300O56BSKRD8FAM12 | Long             | EC               | CORP              | US        |     13563 | NS      | $329309.64    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Poet Technologies Inc                      | POET TECHNOLOGIE              | CUSIP: 73044W302<br>LEI: 529900HTWKO62IAAQD05 | Long             | EC               | CORP              | CA        |    100591 | NS      | $597510.54    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| The Progressive Corporation                | PROGRESSIVE CORP              | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      1452 | NS      | $287844.48    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Qnity Electronics Inc.                     | QNITY ELECTRONIC              | CUSIP: 74743L100<br>LEI: 254900RSUG4J9TFFZX53 | Long             | EC               | CORP              | US        |      2530 | NS      | $291911.40    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Quanex Building Products Corp.             | QUANEX BUILDING               | CUSIP: 747619104<br>LEI: 5493000TL30VL5WOAW87 | Long             | EC               | CORP              | US        |     15660 | NS      | $281410.20    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Ralliant Corp.                             | RALLIANT CORP                 | CUSIP: 750940108<br>LEI: 52990024QKO4DYT8N464 | Long             | EC               | CORP              | US        |     20547 | NS      | $854549.73    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Rapid7 Inc.                                | RAPID7 INC                    | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Long             | EC               | CORP              | US        |     50534 | NS      | $278442.34    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Red Cat Holdings Inc.                      | RED CAT HOLDINGS              | CUSIP: 75644T100<br>LEI: 5493005OGSQW28V2PY05 | Long             | EC               | CORP              | US        |     28020 | NS      | $366781.80    | 0.06%             |  |  |  | No            | 1                  | On Loan: —       |
| Redwood Trust Inc                          | REDWOOD TRUST                 | CUSIP: 758075402<br>LEI: DRBV4N1ERQLEMIF11G78 | Long             | EC               | CORP              | US        |    156116 | NS      | $875810.76    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Reinsurance Group of America, Incorporated | REINSURANCE GROU              | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |      2799 | NS      | $571443.84    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Remitly Global Inc.                        | REMIT GLOBAL INC              | CUSIP: 75960P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35534 | NS      | $556817.78    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Resideo Technologies Inc                   | RESIDEO TECHN                 | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Long             | EC               | CORP              | US        |     24886 | NS      | $838907.06    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Ryder System, Inc.                         | RYDER SYSTEM INC              | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |      1352 | NS      | $276767.92    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| SPS Commerce Inc                           | SPS COMMERCE INC              | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |     16189 | NS      | $901241.63    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Sanmina Corp                               | SANMINA CORP                  | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |      4261 | NS      | $552396.04    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Satellogic Inc                             | SATELLOGIC INC-A              | CUSIP: 80401C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    107296 | NS      | $583690.24    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Servicenow Inc                             | SERVICENOW INC                | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      2900 | NS      | $303195.00    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Sitime Corporation                         | SITIME CORP                   | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1663 | NS      | $574317.05    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| The J M Smucker Company                    | JM SMUCKER CO                 | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |      5990 | NS      | $577675.60    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Solaredge Technologies Inc                 | SOLAREDGE TECHNO              | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | US        |     20410 | NS      | $1041930.50   | 0.17%             |  |  |  | No            | 1                  | On Loan: —       |
| Standard Lithium Limited                   | STANDARD LITHIUM              | CUSIP: 853606101<br>LEI: 549300LA4BSHAKT4SL33 | Long             | EC               | CORP              | CA        |    158571 | NS      | $540727.11    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| SunCoke Energy, Inc.                       | SUNCOKE ENERGY I              | CUSIP: 86722A103<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | EC               | CORP              | US        |     56443 | NS      | $367443.93    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Super Micro Computer Inc.                  | SUPER MICRO COMP              | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |      9784 | NS      | $222781.68    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Synaptics Incorporated                     | SYNAPTICS INC                 | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |      7669 | NS      | $537136.76    | 0.09%             |  |  |  | No            | 1                  | On Loan: —       |
| Sysco Corporation                          | SYSCO CORP                    | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |      6862 | NS      | $489466.46    | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| T-Mobile US Inc                            | T-MOBILE US INC               | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      2693 | NS      | $565610.79    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Tmc The Metals Company Inc                 | TMC THE METALS C              | CUSIP: 87261Y106<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     51262 | NS      | $239393.54    | 0.04%             |  |  |  | No            | 1                  | On Loan: —       |
| Tactile Systems Technology Inc.            | TACTILE SYSTEMS               | CUSIP: 87357P100<br>LEI: 54930069VDTITHOTKJ98 | Long             | EC               | CORP              | US        |     21308 | NS      | $556778.04    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Talen Energy Corporation                   | TALEN ENERGY COR              | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       838 | NS      | $267514.74    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Talos Energy Inc                           | TALOS ENERGY INC              | CUSIP: 87484T108<br>LEI: 549300OKFHZ84SFJFT95 | Long             | EC               | CORP              | US        |     26276 | NS      | $414109.76    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Tandem Diabetes Care Inc                   | TANDEM DIABETES               | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |     12679 | NS      | $243056.43    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Targa Resources Corp.                      | TARGA RESOURCES               | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      1293 | NS      | $324193.89    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Taseko Mines Limited                       | TASEKO MINES                  | CUSIP: 876511106<br>LEI: 549300XKUO1JSLU7KX54 | Long             | EC               | CORP              | CA        |     95461 | NS      | $615723.45    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| TaskUs Inc                                 | TASKUS INC-A                  | CUSIP: 87652V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29628 | NS      | $198803.88    | 0.03%             |  |  |  | No            | 1                  | On Loan: —       |
| Teladoc Health Inc                         | TELADOC HEALTH I              | CUSIP: 87918A105<br>LEI: 549300I2PVFBC9MFAC61 | Long             | EC               | CORP              | US        |    102857 | NS      | $560570.65    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Tenable Holdings Inc                       | TENABLE HOLDINGS              | CUSIP: 88025T102<br>LEI: 5493004S5OMPESF0EF83 | Long             | EC               | CORP              | US        |     17069 | NS      | $288722.14    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Teradata Corp                              | TERADATA CORP                 | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |     21517 | NS      | $551480.71    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Teradyne Inc.                              | TERADYNE INC                  | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      1862 | NS      | $552008.52    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| TETRA Technologies Inc.                    | TETRA TECHNOLOGI              | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Long             | EC               | CORP              | US        |    104965 | NS      | $894301.80    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| The Trade Desk Inc                         | TRADE DESK INC-A              | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     26171 | NS      | $593819.99    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| The Realreal Inc                           | REALREAL INC/THE              | CUSIP: 88339P101<br>LEI: 549300O00VUGT4H1PE90 | Long             | EC               | CORP              | US        |     27299 | NS      | $247874.92    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Tiptree Inc.                               | TIPTREE INC                   | CUSIP: 88822Q103<br>LEI: 254900EH52HA4YXENT37 | Long             | EC               | CORP              | US        |     17711 | NS      | $299670.12    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Titan International, Inc.                  | TITAN INTL INC                | CUSIP: 88830M102<br>LEI: 254900CXRGBE7C4B5A06 | Long             | EC               | CORP              | US        |     31899 | NS      | $220422.09    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Toast Inc                                  | TOAST INC-A                   | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |     32265 | NS      | $855345.15    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Ultra Clean Holdings Inc                   | ULTRA CLEAN HOLD              | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     14750 | NS      | $917155.00    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury Bills               | B 09/03/26                    | CUSIP: 912797RS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30000000 | PA      | $29537676.90  | 4.96%             | 2026-09-03      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| United States Treasury Bills               | B 06/04/26                    | CUSIP: 912797SX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  50000000 | PA      | $49679000.00  | 8.34%             | 2026-06-04      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| Unusual Machines Inc.                      | UNUSUAL MACHINES              | CUSIP: 91532F102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     65909 | NS      | $817271.60    | 0.14%             |  |  |  | No            | 1                  | On Loan: —       |
| Uranium Energy Corp.                       | URANIUM ENERGY                | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |     21643 | NS      | $292180.50    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Urban Outfitters Inc.                      | URBAN OUTFITTER               | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |      4518 | NS      | $286215.30    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Veeva Systems Inc                          | VEEVA SYSTEMS-A               | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      1713 | NS      | $300905.58    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Vermilion Energy Inc.                      | VERMILION ENERGY              | CUSIP: 923725105<br>LEI: 8945009D1HGCJC8M8A68 | Long             | EC               | RF                | CA        |     42285 | NS      | $582687.30    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Verra Mobility Corporation                 | VERRA MOBILITY C              | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |     38886 | NS      | $555680.94    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Vertiv Holdings Co                         | VERTIV HOLDING-A              | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      1271 | NS      | $318487.18    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Vertex Inc                                 | VERTEX INC - A                | CUSIP: 92538J106<br>LEI: 549300QMYW171MP1PL50 | Long             | EC               | CORP              | US        |     48583 | NS      | $577651.87    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Viavi Solutions Inc                        | VIAVI SOLUTIONS               | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |     11098 | NS      | $369341.44    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Viatris Inc                                | VIATRIS INC                   | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |     63856 | NS      | $862694.56    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Victorias Secret and Co                    | VICTORIA'S SECRE              | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |      5153 | NS      | $238893.08    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Virtu Financial Inc                        | VIRTU FINANCIA-A              | CUSIP: 928254101<br>LEI: 5493001OPW2K42CH3884 | Long             | EC               | CORP              | US        |      7845 | NS      | $345023.10    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Visa Inc                                   | VISA INC-CLASS A              | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      1870 | NS      | $565188.80    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Vistra Corp                                | VISTRA CORP                   | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      1824 | NS      | $274201.92    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| WSFS Financial Corporation                 | WSFS FINANCIAL                | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |      4754 | NS      | $311196.84    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Walker & Dunlop Inc.                       | WALKER & DUNLOP               | CUSIP: 93148P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6942 | NS      | $308085.96    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Waterbridge Infrastructure LLC             | WATERBRIDGE IN-A              | CUSIP: 940923105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11328 | NS      | $303477.12    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Watts Water Technologies Inc.              | WATTS WATER TE-A              | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |       958 | NS      | $278097.82    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| West Fraser Timber Co Ltd.                 | WEST FRASER TIMB              | CUSIP: 952845105<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |      4945 | NS      | $322859.05    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| The Western Union Company                  | WESTERN UNION                 | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |     63428 | NS      | $553726.44    | 0.09%             |  |  |  | No            | 1                  | On Loan: —       |
| Wiley John & Sons Inc.                     | WILEY JOHN&SON-A              | CUSIP: 968223206<br>LEI: 5493003XM719UN7E8P64 | Long             | EC               | CORP              | US        |     14998 | NS      | $571423.80    | 0.10%             |  |  |  | No            | 1                  | On Loan: —       |
| Workday Inc                                | WORKDAY INC-A                 | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      2333 | NS      | $303103.36    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Wynn Resorts Limited                       | WYNN RESORTS LTD              | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Long             | EC               | CORP              | US        |      3038 | NS      | $308508.90    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Yext Inc                                   | YEXT INC                      | CUSIP: 98585N106<br>LEI: 5299008ZQSBBVH7K0589 | Long             | EC               | CORP              | US        |     56914 | NS      | $218549.76    | 0.04%             |  |  |  | No            | 1                  | On Loan: —       |
| Zebra Technologies Corporation             | ZEBRA TECH CORP               | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |      1430 | NS      | $298984.40    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Zoetis Inc.                                | ZOETIS INC                    | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      7170 | NS      | $847565.70    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| ABIOMED, INC.                              | ABIOMED INC -CVR              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       476 | NS      | $485.52       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                | S&P500 EMINI FUT  Jun26       | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DE               | CORP              | US        |       -97 | NC      | $-2375.04     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                | S&P MID 400 EMINI Jun26       | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DE               | CORP              | US        |       -96 | NC      | $-753120.00   | -0.13%            |  |  |  | No            | 1                  | On Loan: No      |
| Adient PLC                                 | ADIENT PLC                    | CUSIP: G0084W101<br>LEI: 5493002QLDY8O75RTR78 | Long             | EC               | CORP              | IE        |     40125 | NS      | $810926.25    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Amer Sports Inc.                           | AMER SPORTS INC               | CUSIP: G0260P102<br>LEI: 391200YCSWTRD1J21867 | Long             | EC               | CORP              | KY        |      8125 | NS      | $267475.00    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Ambarella Inc                              | AMBARELLA INC                 | CUSIP: G037AX101<br>LEI: 254900XN7F4DG0CEKC02 | Long             | EC               | CORP              | KY        |     10638 | NS      | $547591.05    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Accenture PLC                              | ACCENTURE PLC-A               | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      2929 | NS      | $580791.41    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Borr Drilling Ltd.                         | BORR DRILLING LT              | CUSIP: G1466R173<br>LEI: 213800J2JPCTXLHQ5R78 | Long             | EC               | CORP              | BM        |     98850 | NS      | $570364.50    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Credo Technology Group Holding Ltd         | CREDO TECHNOLOGY              | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      8752 | NS      | $821550.24    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Dole PLC                                   | DOLE PLC                      | CUSIP: G27907107<br>LEI: 635400JUG5XJXOPPJJ47 | Long             | EC               | CORP              | IE        |     38993 | NS      | $557209.97    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Ferroglobe PLC                             | FERROGLOBE PLC                | CUSIP: G33856108<br>LEI: 2138005GCFJACFTZUD90 | Long             | EC               | CORP              | GB        |    192189 | NS      | $791818.68    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelis Insurance Holdings Ltd.            | FIDELIS INSURANC              | CUSIP: G3398L118<br>LEI: 549300CDMGCAGJQ7DX03 | Long             | EC               | CORP              | BM        |     16885 | NS      | $322672.35    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| FTAI Aviation Ltd                          | FTAI AVIATION LT              | CUSIP: G3730V105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      2305 | NS      | $564725.00    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Herbalife Ltd.                             | HERBALIFE LTD                 | CUSIP: G4412G101<br>LEI: 549300BA7TYPBSZZIA41 | Long             | EC               | CORP              | KY        |     16090 | NS      | $236844.80    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Ichor Holdings Ltd                         | ICHOR HOLDINGS L              | CUSIP: G4740B105<br>LEI: 529900PS8R2JVLJ2H892 | Long             | EC               | CORP              | KY        |     19141 | NS      | $892162.01    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Jazz Pharmaceuticals PLC                   | JAZZ PHARMACEUTI              | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |      3005 | NS      | $568095.25    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Liberty Global Ltd.                        | LIBERTY GLOBAL-A              | CUSIP: G61188101<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | BM        |     71438 | NS      | $863685.42    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Alpha & Omega Semiconductor Ltd.           | ALPHA & OMEGA SE              | CUSIP: G6331P104<br>LEI: 5493001FE7J03YOV2V35 | Long             | EC               | CORP              | BM        |     39579 | NS      | $877070.64    | 0.15%             |  |  |  | No            | 1                  | On Loan: —       |
| Joby Aviation Inc.                         | JOBY AVIATION IN              | CUSIP: G65163100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32541 | NS      | $268788.66    | 0.05%             |  |  |  | No            | 1                  | On Loan: —       |
| Novocure Ltd                               | NOVOCURE LTD                  | CUSIP: G6674U108<br>LEI: 213800YPP55UMHWA4826 | Long             | EC               | CORP              | JE        |     49382 | NS      | $538263.80    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Pagseguro Digital Ltd                      | PAGSEGURO DIGI-A              | CUSIP: G68707101<br>LEI: 391200VY4YW47I4HGH62 | Long             | EC               | CORP              | KY        |     56464 | NS      | $565769.28    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Pangaea Logistics Solutions Ltd            | PANGAEA LOGISTIC              | CUSIP: G6891L105<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     34200 | NS      | $242136.00    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| SFL Corporation Ltd                        | SFL CORP LTD                  | CUSIP: G7738W106<br>LEI: 549300RLYYPSB0C7RH77 | Long             | EC               | CORP              | BM        |     81426 | NS      | $878586.54    | 0.15%             |  |  |  | No            | 1                  | On Loan: —       |
| Signet Jewelers Limited                    | SIGNET JEWELERS               | CUSIP: G81276100<br>LEI: 549300N3XPGE91WV7M22 | Long             | EC               | CORP              | BM        |      6432 | NS      | $544404.48    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Super Group Sghc Limited                   | SUPER GROUP SGHC              | CUSIP: G8588X103<br>LEI: N/A                  | Long             | EC               | CORP              | GG        |     54212 | NS      | $585489.60    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Liberty Latin America Ltd                  | LIBERTY LATIN AMERIC-CL C     | CUSIP: G9001E128<br>LEI: 213800YWQHEAX7CAVO83 | Long             | EC               | CORP              | BM        |     39840 | NS      | $351388.80    | 0.06%             |  |  |  | No            | 1                  | On Loan: —       |
| Tronox Holdings PLC                        | TRONOX HOLDING                | CUSIP: G9087Q102<br>LEI: 549300NRVC84SGJSXV06 | Long             | EC               | CORP              | GB        |     43048 | NS      | $420578.96    | 0.07%             |  |  |  | No            | 1                  | On Loan: —       |
| Tsakos Energy Navigation Ltd.              | TSAKOS ENERGY NA              | CUSIP: G9108L173<br>LEI: 549300IFUTS62LRRCU54 | Long             | EC               | CORP              | BM        |      8967 | NS      | $353837.82    | 0.06%             |  |  |  | No            | 1                  | On Loan: —       |
| Golar LNG Limited                          | GOLAR LNG LTD                 | CUSIP: G9456A100<br>LEI: 213800C2VSFZG3EZLO34 | Long             | EC               | CORP              | BM        |      6968 | NS      | $377038.48    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Garmin Ltd                                 | GARMIN LTD                    | CUSIP: H2906T109<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |      1211 | NS      | $280964.11    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Lithium Argentina AG                       | LITHIUM ARGENTIN              | CUSIP: H5012F103<br>LEI: 25490091H0GF6CS01G98 | Long             | EC               | CORP              | CH        |     81261 | NS      | $542823.48    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Sportradar Group AG                        | SPORTRADAR GROUP              | CUSIP: H8088L103<br>LEI: 549300H1P33YOAT7Z533 | Long             | EC               | CORP              | CH        |     16814 | NS      | $281466.36    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Transocean Ltd                             | TRANSOCEAN LTD                | CUSIP: H8817H100<br>LEI: 529900QO4W5DQGBGEF32 | Long             | EC               | CORP              | CH        |    133401 | NS      | $884448.63    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                        | JCP1MILS INDEX                | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    465000 | NS      | $-287234.55   | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                        | JCP1MULS INDEX                | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    393000 | NS      | $-2425425.40  | -0.41%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                        | JPCPILS1 INDEX                | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    659400 | NS      | $2741935.76   | 0.46%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                        | JPCPILS2 INDEX                | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   1050400 | NS      | $5416268.46   | 0.91%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                        | JPCPILS3 INDEX                | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   1118300 | NS      | $3232733.88   | 0.54%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                        | JPCPULS1 INDEX                | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    470000 | NS      | $36942.15     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                        | JPCPULS2 INDEX                | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    648600 | NS      | $-1483673.96  | -0.25%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                        | CP TE - JPCPUSHA IND          | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    702986 | NS      | $1894141.59   | 0.32%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                        | CP TE - JPCPUSHB IND          | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |   1120326 | NS      | $-1607382.93  | -0.27%            |  |  |  | No            | 2                  | On Loan: No      |
| Ardagh Metal Packaging S A                 | ARDAGH METAL PAC              | CUSIP: L02235106<br>LEI: 5493009WKQTU4FN9G032 | Long             | EC               | CORP              | LU        |    136732 | NS      | $553764.60    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Camtek Limited                             | CAMTEK LTD                    | CUSIP: M20791105<br>LEI: 5493000H80W07HCKGS43 | Long             | EC               | CORP              | IL        |      1942 | NS      | $294426.62    | 0.05%             |  |  |  | No            | 1                  | On Loan: —       |
| Enlight Renewable Energy Ltd.              | ENLIGHT RENEWABL              | CUSIP: M4056D110<br>LEI: 984500HF6A99N758F734 | Long             | EC               | CORP              | IL        |      7802 | NS      | $532564.52    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Frontline Plc                              | FRONTLINE PLC                 | CUSIP: M46528101<br>LEI: 5493004BCIKYU1YL3H63 | Long             | EC               | CORP              | CY        |     16490 | NS      | $574841.40    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| ICL Group Ltd                              | ICL GROUP LTD                 | CUSIP: M53213100<br>LEI: 529900FQVQD88SHIGM04 | Long             | EC               | CORP              | IL        |     64105 | NS      | $332063.90    | 0.06%             |  |  |  | No            | 1                  | On Loan: —       |
| Monday.Com Limited                         | MONDAY.COM LTD                | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |     12783 | NS      | $883433.13    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Stratasys Ltd                              | STRATASYS LTD                 | CUSIP: M85548101<br>LEI: 529900MU215GIP9SZ741 | Long             | EC               | CORP              | IL        |     33105 | NS      | $258550.05    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Taboola.Com Ltd                            | TABOOLA.COM LTD               | CUSIP: M8744T106<br>LEI: 984500F5945AFAFFCB30 | Long             | EC               | CORP              | IL        |     98470 | NS      | $305257.00    | 0.05%             |  |  |  | No            | 1                  | On Loan: —       |
| N/A                                        | MSCPIN1 INDEX                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    532000 | NS      | $-519543.74   | -0.09%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                        | MSCPUS1 INDEX                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               |  | US        |    426500 | NS      | $1720338.10   | 0.29%             |  |  |  | No            | 2                  | On Loan: No      |
| JBS NV                                     | JBS NV-A                      | CUSIP: N4732M103<br>LEI: 254900JSFON4WL81TW77 | Long             | EC               | CORP              | NL        |     18628 | NS      | $334558.88    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Costamare Inc.                             | COSTAMARE INC                 | CUSIP: Y1771G102<br>LEI: 5299003L6NPTZ25LN818 | Long             | EC               | CORP              | MH        |     33501 | NS      | $566166.90    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Genco Shipping & Trading Ltd.              | GENCO SHIPPING &              | CUSIP: Y2685T131<br>LEI: 5493003MBZ5GU8QHXZ58 | Long             | EC               | CORP              | MH        |     24852 | NS      | $560412.60    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Navios Maritime Partners LP                | NAVIOS MARITIME               | CUSIP: Y62267409<br>LEI: 213800185NOIXCLYX335 | Long             | EC               | CORP              | MH        |      4395 | NS      | $296574.60    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Star Bulk Carriers Corp.                   | STAR BULK CARRIE              | CUSIP: Y8162K204<br>LEI: 549300SO3FMK7H6DDY54 | Long             | EC               | CORP              | MH        |     24712 | NS      | $567634.64    | 0.10%             |  |  |  | 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