# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0001752724-25-211823
**Filing Date:** 2025-8
**Character Count:** 19417
**Document Hash:** 085c7b2036f1d77e26d97a47484beab7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211823.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211823

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Northern Lights Fund Trust
- **CENTRAL INDEX KEY:** 0001314414

**ORGANIZATION NAME:**
- **EIN:** 043023766
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21720
- **FILM NUMBER:** 251273752

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 631-470-2600

**MAIL ADDRESS:**
- **STREET 1:** 17605 WRIGHT STREET
- **STREET 2:** SUITE 200
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68130

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Strategy Shares
- **DATE OF NAME CHANGE:** 20160223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mutual Fund & Variable Insurance Trust
- **DATE OF NAME CHANGE:** 20160223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Northern Lights Fund Trust
- **DATE OF NAME CHANGE:** 20050121

## Series and Classes Contracts Data

### Ocean Park Tactical Municipal Fund (Series ID: S000064014)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000207096 | Ocean Park Tactical Municipal Fund Class Special Shares  | STMYX           |
| C000207097 | Ocean Park Tactical Municipal Fund Class A Shares        | STMKX           |
| C000207098 | Ocean Park Tactical Municipal Fund Instl Class Shares    | STMEX           |
| C000207099 | Ocean Park Tactical Municipal Fund Investor Class Shares | STMNX           |
| C000214793 | Ocean Park Tactical Municipal Fund Class C Shares        | STMHX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL MUNICIPAL FUND** | **OCEAN PARK TACTICAL MUNICIPAL FUND** | **OCEAN PARK TACTICAL MUNICIPAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 15.8%** |  |
|  | **FIXED INCOME - 15.8%** |  |
| 116300 | First Trust Municipal High Income ETF | &nbsp;&nbsp;&nbsp; $5431210 |
| 86300 | Franklin Dynamic Municipal Bond ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2093638 |
| 22000 | JPMorgan High Yield Municipal ETF | &nbsp;&nbsp;&nbsp; 1095160 |
| 59000 | JPMorgan Ultra-Short Municipal Income ETF | &nbsp;&nbsp;&nbsp; 3004280 |
| 41300 | PIMCO Short Term Municipal Bond Active ETF | &nbsp;&nbsp;&nbsp; 2072021 |
| 442200 | SPDR Nuveen ICE High Yield Municipal Bond ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 10957716 |
| 108600 | VanEck High Yield Muni ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5452806 |
| 95000 | VanEck Short High Yield Muni ETF | &nbsp;&nbsp;&nbsp; 2145974 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $32,168,205)** | &nbsp;&nbsp; 32252805 |
|  | **OPEN END FUNDS — 84.0%** |  |
|  | **FIXED INCOME - 84.0%** |  |
| 779 | Allspring California Tax-Free Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 7959 |
| 3911192 | Allspring Municipal Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 37117214 |
| 2051 | American Century High-Yield Municipal Fund, Class I | &nbsp;&nbsp;&nbsp; 17494 |
| 352931 | American High-Income Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 5265729 |
| 9101 | BlackRock National Municipal Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 89285 |
| 3730 | BlackRock Strategic Municipal Opportunities Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 37937 |
| 3797 | City National Rochdale Municipal High Income Fund, Service Class | &nbsp;&nbsp;&nbsp; 34208 |
| 5221 | First Eagle Funds - First Eagle High Income Fund, Class I | &nbsp;&nbsp;&nbsp; 43025 |
| 4520 | Northern Intermediate Tax-Exempt Fund, Class I | &nbsp;&nbsp;&nbsp; 43752 |
| 1114723 | Nuveen All-American Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 10980020 |
| 1133 | Nuveen California High Yield Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 8531 |
| 2262 | Nuveen California Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 21923 |
| 3613843 | Nuveen High Yield Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 50666084 |
| 859 | Nuveen Intermediate Duration Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 7498 |
| 817 | Nuveen Limited Term Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 8869 |
| 2427558 | Nuveen Short Duration High Yield Municipal Bond, Class I | &nbsp;&nbsp;&nbsp; 22891870 |
| 2657567 | PIMCO High Yield Municipal Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 21845198 |
| 1188429 | PIMCO Municipal Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 10921664 |
| 992 | Putnam Strategic Intermediate Municipal Fund, Class Y | &nbsp;&nbsp;&nbsp; 13716 |
| 1146629 | Russell Tax Exempt High Yield Bond Fund, Class S | &nbsp;&nbsp;&nbsp; 10973244 |
|  | **TOTAL OPEN END FUNDS (Cost $172,112,342)** | &nbsp;&nbsp; 170995220 |

---

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL MUNICIPAL FUND** | **OCEAN PARK TACTICAL MUNICIPAL FUND** | **OCEAN PARK TACTICAL MUNICIPAL FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)(Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited)(Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited)(Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** | | **Fair Value** |
|  | **SHORT-TERM INVESTMENTS — 8.5%** |  |
|  | **COLLATERAL FOR SECURITIES LOANED - 8.2%** |  |
| 16734900 | First American Government Obligations Fund, Class X, 4.25%<sup>(b)(c)</sup> **(Cost $16,734,900)** | &nbsp;&nbsp;&nbsp; $16734900 |
|  | **MONEY MARKET FUND - 0.3%** |  |
| 480049 | First American Government Obligations Fund, Class X, 4.25%<sup>(c)</sup> **(Cost $480,049)** | &nbsp;&nbsp;&nbsp; 480049 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $17,214,949)** | 17214949 |
|  | **TOTAL INVESTMENTS - 108.3% (Cost $221,495,496)** | &nbsp;&nbsp;&nbsp; $220462974 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (8.3)%** | &nbsp;&nbsp; (16871558) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $203591416 |

---

---

| | |
|:---|:---|
| ETF | - Exchange-Traded Fund |
| SPDR | - Standard & Poor's Depositary Receipt |
| <sup>(a)</sup> | All or a portion of the security is on loan. The total value of the securities on loan was $16,440,287, as of June 30, 2025. |
| <sup>(b)</sup> | Security was purchased with cash received as collateral for securities on loan at June 30, 2025. Total collateral had a value of $16,734,900 at June 30, 2025. |
| <sup>(c)</sup> | Rate disclosed is the seven day effective yield as of June 30, 2025. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Northern Lights Fund Trust

- **b. Investment Company Act file number:** 811-21720

- **c. CIK number of Registrant:** 0001314414

- **d. LEI of Registrant:** 549300BSYF57GRCG4861

- **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:** Ocean Park Tactical Municipal Fund

- **b. EDGAR series identifier (if any):** S000064014

- **c. LEI of Series:** 549300OJT70EX64LCS40

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $204410685.25

**Total Liabilities:** $819269.25

**Net Assets:** $203591416.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000207098 | -3.28%               | -0.53%               | 0.54%                |
| Class ID C000207097 | -3.33%               | -0.51%               | 0.52%                |
| Class ID C000207099 | -3.35%               | -0.52%               | 0.50%                |
| Class ID C000207096 | -3.26%               | -0.52%               | 0.54%                |
| Class ID C000214793 | -3.35%               | -0.57%               | 0.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-11939526.55            | $3302443.77                                |
| Month 2  | $0.00                    | $-1533947.62                               |
| Month 3  | $-61145.75               | $522104.66                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Allspring Funds Trust                            | ALLSP-CA T/F-INS          | CUSIP: 94988A734<br>LEI: 549300XROIY0CTN7RZ24 | Long             | EC               | RF                | US        |       776 | NS      | $7934.64      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| City National Rochdale Funds                     | CNR-NATL ROCH-SV          | CUSIP: 17800P456<br>LEI: 549300QMC7FYNN5LU818 | Long             | EC               | RF                | US        |      3783 | NS      | $34087.35     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Series Trust                                | SPD NU ICE HY MU          | CUSIP: 78464A284<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    442200 | NS      | $10957716.00  | 5.38%             |  |  |  | No            | 1                  | On Loan: —       |
| Nuveen Municipal                                 | NVN-SH DUR HY-I           | CUSIP: 67065Q699<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |   2417049 | NS      | $22792771.00  | 11.20%            |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series | PIMCO MUNICIPAL BOND-INST | CUSIP: 693391658<br>LEI: N/A                  | Long             | EC               | RF                | US        |   1184534 | NS      | $10885866.60  | 5.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Municipal                                 | NVN-L/T MUNI-I            | CUSIP: 67065Q822<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |       815 | NS      | $8847.51      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Multistate                                | NVN-CA MUNI-I             | CUSIP: 67065N407<br>LEI: 549300IEL53UNMUSWW03 | Long             | EC               | RF                | US        |      2255 | NS      | $21850.22     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Municipal Series Trust                 | BLRK-STR MUN-I            | CUSIP: 09253E609<br>LEI: N13FNQG6SVW6WDIWRJ75 | Long             | EC               | RF                | US        |      3718 | NS      | $37807.72     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Municipal                                 | NVN-H/Y MUN-I             | CUSIP: 67065Q772<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |   3595453 | NS      | $50408244.22  | 24.76%            |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Municipal                                 | NVN-ALL AMER-I            | CUSIP: 67065Q855<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |   1110607 | NS      | $10939482.75  | 5.37%             |  |  |  | No            | 1                  | On Loan: No      |
| VanEck ETF Trust                                 | V/E SH HI YLD MU          | CUSIP: 92189F387<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |     95000 | NS      | $2145974.00   | 1.05%             |  |  |  | No            | 1                  | On Loan: No      |
| J P Morgan Exchange Traded Fund Trust            | JPM ULTR-SHT MUN          | CUSIP: 46641Q654<br>LEI: 5493001E1K1DVWDV2464 | Long             | EC               | RF                | US        |     59000 | NS      | $3004280.00   | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Multistate                                | NVN-CA H/Y-I              | CUSIP: 67065N555<br>LEI: 549300IEL53UNMUSWW03 | Long             | EC               | RF                | US        |      1128 | NS      | $8497.13      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| First American Funds Inc.                        | FRST AM-GV OB-X           | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    480049 | PA      | $480048.62    | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Putman Tax Free Income Tr                        | PTNM ST IN MUN-Y          | CUSIP: 746872886<br>LEI: N/A                  | Long             | EC               | RF                | US        |       989 | NS      | $13674.05     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Northern Funds                                   | NT-INT T/E                | CUSIP: 665162871<br>LEI: 5493004ZY1PEJR3C0A81 | Long             | EC               | RF                | US        |      4520 | NS      | $43751.79     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                              | FIRST AM GOVT OB FD CL X  | CUSIP: 31846V336<br>LEI: N/A                  | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Blackrock Municipal Bond Fund Inc                | BLKR-NTL MUN-INS          | CUSIP: 09253C876<br>LEI: N/A                  | Long             | EC               | RF                | US        |      9072 | NS      | $88998.86     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds                                      | PIMCO-HY MUNI-I           | CUSIP: 72201F672<br>LEI: N/A                  | Long             | EC               | RF                | US        |   2647879 | NS      | $21765562.72  | 10.69%            |  |  |  | No            | 1                  | On Loan: No      |
| Franklin Templeton ETF Trust                     | FRANKLIN DYNAMIC          | CUSIP: 35473P868<br>LEI: 549300UHXVPT5S43XV04 | Long             | EC               | RF                | US        |     86300 | NS      | $2093638.00   | 1.03%             |  |  |  | No            | 1                  | On Loan: —       |
| J P Morgan Exchange Traded Fund Trust            | JPM HIGH YIELD            | CUSIP: 46654Q799<br>LEI: 5493001E1K1DVWDV2464 | Long             | EC               | RF                | US        |     22000 | NS      | $1095160.00   | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| VanEck ETF Trust                                 | V/E HI YLD MUNI           | CUSIP: 92189H409<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |    108600 | NS      | $5452806.00   | 2.68%             |  |  |  | No            | 1                  | On Loan: —       |
| PIMCO ETF Trust                                  | PIMCO SHORT TERM MUNICIPA | CUSIP: 72201R874<br>LEI: 5493004M9TBGFQUJ6D27 | Long             | EC               | RF                | US        |     41300 | NS      | $2072021.00   | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Municipal                                 | NVV-INT DUR-I             | CUSIP: 67065Q400<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |       856 | NS      | $7476.87      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Russell Investment Company                       | RIC-T/E HI Y-S            | CUSIP: 78249R123<br>LEI: 549300J63VJ9OS4TCK93 | Long             | EC               | RF                | US        |   1146629 | NS      | $10973244.09  | 5.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Allspring Funds Trust                            | ALLSP-MUN BD-INS          | CUSIP: 949921670<br>LEI: 549300XROIY0CTN7RZ24 | Long             | EC               | RF                | US        |   3899909 | NS      | $37010138.39  | 18.18%            |  |  |  | No            | 1                  | On Loan: No      |
| American Centy Tr                                | AC-H/Y MUNI-I             | CUSIP: 024934663<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2043 | NS      | $17428.56     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| American High-Income Municipal Bond Fund         | AF-H/I MUN-F3             | CUSIP: 026545806<br>LEI: N/A                  | Long             | EC               | RF                | US        |    351917 | NS      | $5250601.19   | 2.58%             |  |  |  | No            | 1                  | On Loan: No      |
| First Trust Exchange-Traded Fund III             | FIRST TRUST MUNI          | CUSIP: 33739P301<br>LEI: 5493003Z20QMESC6XS29 | Long             | EC               | RF                | US        |    116300 | NS      | $5431210.00   | 2.67%             |  |  |  | No            | 1                  | On Loan: No      |
| First Eagle Funds                                | FIRST EAGLE HIGH YIELD-I  | CUSIP: 32008F713<br>LEI: 549300FE2F4XF7FZN136 | Long             | EC               | RF                | US        |      5197 | NS      | $42824.15     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** Northern Lights Fund Trust

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Treasurer