Northern Lights Fund Trust III - Counterpoint Quantitative Equity ETF

CPAI

Counterpoint

Northern Lights Fund Trust III - Counterpoint Quantitative Equity ETF (CPAI) on the Akinda fund screen (AAOIFI-derived): Not halal. Coverage 99.85%. Below: the fund under all five rulebooks, its facts and every holding with its own verdict.

Akinda fund screen

Akinda fund screen (AAOIFI-derived)Not halalCoverage: 99.85%

Halal 37.71%
Doubtful 3.83%
Not halal 58.31%
Not rated 0.15%

The bar is scaled to fit; the figures are as reported, and the buckets do not always total 100%.

Coverage is the share of the fund's weight we hold a usable verdict for. Below 95%, a fund is rated only when the weight we can see already breaches the 5% limit; otherwise it is not rated by this method.

Fund facts

Issuer: Counterpoint
Venue (where it trades): United States
Domicile (where it is registered): United States
Reporting currency: USD
Expense ratio: 0.75%
AUM: 537.54M USD
Holdings: 50 (50 screened)
Basket as of (provider): 30 Oct 2026
Basket fetched by Akinda: 30 Oct 2026
Verdict updated: 3 Nov 2026

Venue is where a fund trades; domicile is where it is registered. London-listed funds are domiciled in Ireland or Luxembourg, so use Venue for UK ETFs.

Five rulebooks

Rulebook	Verdict	Halal	Not halal
Akinda fund screen (AAOIFI)	Not halal	37.71%	58.31%
DJIM	Not halal	44.69%	53.43%
FTSE	Not halal	40.41%	55.75%
MSCI	Not halal	40.41%	55.75%
S&P	Not halal	44.69%	53.43%

Every bar uses the same 0–100% scale. Index rulebooks report only halal and not-halal weight; uncoloured weight is weight that rulebook does not classify. Coverage is published for the Akinda fund screen only.

The fund screen and the four index rulebooks answer different questions, so they are expected to disagree. A fund can be doubtful on our fund screen and halal under S&P; both are correct.

Holdings

1–50 of 50 holdings, largest first · basket as of 30 Oct 2026

No.	Holding	Weight	Akinda (AAOIFI)	DJIM	FTSE	MSCI	S&P
No.	Holding	Weight	Akinda (AAOIFI)	DJIM	FTSE	MSCI	S&P
1	PEverpure, Inc.	2.57%	Halal	Halal	Halal	Halal	Halal
2	ETSYEtsy, Inc.	2.47%	Not halal	Not halal	Not halal	Not halal	Not halal
3	BOXBox, Inc.	2.46%	Halal	Halal	Not halal	Not halal	Halal
4	ARAntero Resources Corporation	2.35%	Not halal	Not halal	Halal	Halal	Not halal
5	RIGTransocean Ltd.	2.31%	Not halal	Not halal	Not halal	Not halal	Not halal
6	BBBlackBerry Ltd.	2.28%	Halal	Halal	Halal	Halal	Halal
7	HUBSHubSpot, Inc.	2.24%	Halal	Halal	Not halal	Not halal	Halal
8	DLTRDollar Tree, Inc.	2.19%	Halal	Halal	Halal	Halal	Halal
9	NOGNorthern Oil & Gas, Inc.	2.18%	Not halal	Not halal	Not halal	Not halal	Not halal
10	CLFCleveland-Cliffs, Inc.	2.18%	Not halal	Not halal	Not halal	Not halal	Not halal
11	TDOCTeladoc Health, Inc.	2.15%	Not halal	Not halal	Halal	Halal	Not halal
12	TXG10X Genomics, Inc.	2.14%	Halal	Halal	Not halal	Not halal	Halal
13	MCKMcKesson Corporation	2.14%	Halal	Halal	Halal	Halal	Halal
14	ONON Semiconductor Corporation	2.13%	Halal	Halal	Halal	Halal	Halal
15	CAHCardinal Health, Inc.	2.12%	Halal	Halal	Halal	Halal	Halal
16	GDDYGoDaddy, Inc.	2.12%	Halal	Halal	Not halal	Not halal	Halal
17	SMPLSimply Good Foods Company (The)	2.11%	Halal	Halal	Halal	Halal	Halal
18	PYPLPayPal Holdings, Inc.	2.10%	Doubtful	Not halal	Not halal	Not halal	Not halal
19	TALOTalos Energy, Inc.	2.09%	Not halal	Not halal	Halal	Halal	Not halal
20	OXYOccidental Petroleum Corporation	2.08%	Not halal	Not halal	Halal	Halal	Not halal
21	MSIMotorola Solutions, Inc.	2.06%	Halal	Halal	Not halal	Not halal	Halal
22	MRVLMarvell Technology, Inc.	2.05%	Not halal	Not halal	Not halal	Not halal	Not halal
23	MPCMarathon Petroleum Corporation	2.03%	Not halal	Not halal	Not halal	Not halal	Not halal
24	EGEverest Group Ltd.	2.01%	Not halal	Not halal	Not halal	Not halal	Not halal
25	BRBRBellRing Brands, Inc.	2.00%	Not halal	Halal	Not halal	Not halal	Halal
26	WKCWorld Kinect Corporation	2.00%	Not halal	Not halal	Halal	Halal	Not halal
27	THCTenet Healthcare Corporation	2.00%	Not halal	Not halal	Not halal	Not halal	Not halal
28	CNCCentene Corporation	1.99%	Not halal	Not halal	Not halal	Not halal	Not halal
29	HPEHewlett Packard Enterprise Company	1.96%	Not halal	Not halal	Not rated	Not rated	Not halal
30	GMGeneral Motors Company	1.96%	Not halal	Not halal	Not halal	Not halal	Not halal
31	DVADaVita, Inc.	1.95%	Not halal	Not halal	Not halal	Not halal	Not halal
32	ALABAstera Labs, Inc.	1.94%	Halal	Halal	Not halal	Not halal	Halal
33	FOXAFox Corporation	1.91%	Not halal	Not halal	Not halal	Not halal	Not halal
34	MUMicron Technology, Inc.	1.89%	Halal	Halal	Halal	Halal	Halal
35	KLICKulicke & Soffa Industries, Inc.	1.89%	Halal	Halal	Not halal	Not halal	Halal
36	DINOHF Sinclair Corporation	1.88%	Halal	Halal	Halal	Halal	Halal
37	HPQHP, Inc.	1.86%	Not halal	Not halal	Halal	Halal	Not halal
38	PBFPBF Energy, Inc.	1.86%	Not halal	Not halal	Halal	Halal	Not halal
39	YELPYelp, Inc.	1.82%	Halal	Halal	Not halal	Not halal	Halal
40	SUNSunoco, L.P.	1.80%	Not halal	Not halal	Not halal	Not halal	Not halal
41	CAGConagra Brands, Inc.	1.79%	Not halal	Not halal	Not halal	Not halal	Not halal
42	FFord Motor Company	1.78%	Not halal	Not halal	Not halal	Not halal	Not halal
43	WDCWestern Digital Corporation	1.76%	Halal	Halal	Halal	Halal	Halal
44	PENNPenn Entertainment, Inc.	1.73%	Not halal	Not halal	Not halal	Not halal	Not halal
45	INTCIntel Corporation	1.73%	Doubtful	Not rated	Not rated	Not rated	Not rated
46	MBLYMobileye Global, Inc.	1.72%	Not halal	Halal	Halal	Halal	Halal
47	DELLDell Technologies, Inc.	1.67%	Not halal	Halal	Halal	Halal	Halal
48	TAT&T, Inc.	1.59%	Not halal	Not halal	Not halal	Not halal	Not halal
49	SNDKSandisk Corp	1.57%	Not halal	Halal	Halal	Halal	Halal
50	JBLUJetBlue Airways Corporation	1.27%	Not halal	Not halal	Not halal	Not halal	Not halal

Not rated means we hold no usable verdict for that company; it is never treated as compliant.

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