HCM Tactical Plus Fund
NORTHERN LIGHTS FUND TRUST III · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
HCM Tactical Plus Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
Fund profile
As filed in the prospectus · 2025 Q4
Long-term capital appreciation.
The fund uses a proprietary quantitative model called HCM-BuyLine that analyzes equity market trends to determine tactical allocation between equities and cash. When the model identifies an uptrend, the fund increases exposure to domestic equity securities and investment companies (including leveraged funds); when it identifies a downtrend, the fund shifts to cash, cash equivalents, or put options to reduce equity exposure and volatility. The fund may also hold call options when in the market and invests across sectors selected by the model based on relative strength. Because the fund's equity allocation and sector positioning depend entirely on the HCM-BuyLine's trend signals, performance will diverge from the broad market when those signals prove incorrect.
| Share class | Expense ratio |
|---|---|
| HCMGX | 1.98% |
| HCMDX | 2.73% |
| HCMIX | 1.73% |
Portfolio turnover 264.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 96.58% |
| Cash & short-term | 3.54% |
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +38.28% | +92.74% | +58.29% | 20.55% | -15.68% | |
| +37.21% | +88.41% | +52.43% | 20.54% | -15.82% | |
| +38.67% | +94.25% | +60.32% | 20.57% | -15.60% | |
| +38.28% | +92.71% | +58.32% | 20.55% | -15.67% |
These classes hold the same portfolio, so the 7.89pp spread over 5 years is the cost difference between them — roughly 1.58pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | INVESCO QQQ TRUST, SERIES 1 | 18.45% | $736.40 | $408.11M | 554.2K |
| — | PROSHARES TRUST | 17.54% | $67.38 | $388.10M | 5.8M |
| — | PROSHARES TRUST | 16.62% | $96.76 | $367.72M | 3.8M |
| — | PROSHARES TRUST | 11.10% | $81.00 | $245.65M | 3.0M |
| — | VANGUARD WORLD FUND | 9.03% | $87.91 | $199.87M | 2.3M |
| — | TIDAL TRUST I | 4.88% | $27.65 | $107.94M | 3.9M |
| — | ISHARES TRUST | 4.73% | $640.76 | $104.70M | 163.4K |
| — | VANECK ETF TRUST | 4.18% | $655.89 | $92.41M | 140.9K |
| — | HCM BBH SWEEP | 3.54% | — | $78.21M | — |
| — | VANGUARD INDEX FUNDS | 3.37% | $86.14 | $74.55M | 865.4K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 93.44% of net assets, top 25 99.89%, across 28 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
Sign in free