# EDGAR Filing Document

**Accession Number:** 0000916620
**File Stem:** 0002066578-25-001568
**Filing Date:** 2025-11
**Character Count:** 59731
**Document Hash:** a7bbffe855aba270427e0f5d29c90048
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-25-001568.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0002066578-25-001568

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN FUNDS
- **CENTRAL INDEX KEY:** 0000916620

**ORGANIZATION NAME:**
- **EIN:** 391777365
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08236
- **FILM NUMBER:** 251506532

**BUSINESS ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** 800-595-9111

**MAIL ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

## Series and Classes Contracts Data

### INCOME EQUITY FUND (Series ID: S000001269)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000003415 | INCOME EQUITY FUND | NOIEX           |

## 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 Funds

- **b. Investment Company Act file number:** 811-08236

- **c. CIK number of Registrant:** 0000916620

- **d. LEI of Registrant:** 5493004ZY1PEJR3C0A81

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 50 South LaSalle Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60603

  - **Telephone number:** 800-595-9111

**Item A.2. Information about the Series.**

- **a. Name of Series:** Income Equity Fund

- **b. EDGAR series identifier (if any):** S000001269

- **c. LEI of Series:** 5493003PJIQBHD63RO71

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $263618717.14

**Total Liabilities:** $141905.09

**Net Assets:** $263476812.05

**Cash Not Reported:** $415.03

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000003415 | 2.50%                | 2.66%                | 2.86%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5803.71                 | $5577513.78                                |
| Month 2  | $7702813.83              | $-1553341.62                               |
| Month 3  | $58.07                   | $7366341.14                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| INTERNATIONAL BUSINESS MA                     | INTERNATIONAL BUSINESS MA                     | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      5085 | NS      | $1434783.60   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY INC                        | BERKSHIRE HATHAWAY INC                        | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      3157 | NS      | $1587150.18   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| TAPESTRY INC                                  | TAPESTRY INC                                  | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     13399 | NS      | $1517034.78   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEARWAY ENERGY INC                           | CLEARWAY ENERGY INC                           | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |     21390 | NS      | $604267.50    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUIST FINL. CORP                             | TRUIST FINL. CORP                             | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |     34235 | NS      | $1565224.20   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| JANUS HENDERSON GRP. PLC                      | JANUS HENDERSON GRP. PLC                      | CUSIP: G4474Y214<br>LEI: 2138009WPYMWJN3RVF44 | Long             | EC               | CORP              | JE        |      2801 | NS      | $124672.51    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTIV HLDGS. CO                              | VERTIV HLDGS. CO                              | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      5334 | NS      | $804687.24    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| APA CORP                                      | APA CORP                                      | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |     27820 | NS      | $675469.60    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| LAZARD INC                                    | LAZARD INC                                    | CUSIP: 52110M109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11670 | NS      | $615942.60    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORP                                      | KLA CORP                                      | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      2382 | NS      | $2569225.20   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| KILROY REALTY CORP                            | KILROY REALTY CORP                            | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     20197 | NS      | $853323.25    | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| MSC INDL. DIRECT CO INC                       | MSC INDL. DIRECT CO INC                       | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |      2259 | NS      | $208144.26    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PEGASYSTEMS INC                               | PEGASYSTEMS INC                               | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Long             | EC               | CORP              | US        |     14287 | NS      | $821502.50    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INC                                    | PFIZER INC                                    | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    125833 | NS      | $3206224.84   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| COSTCO WHOLESALE CORP                         | COSTCO WHOLESALE CORP                         | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       955 | NS      | $883976.65    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER & GAMBLE CO/THE                       | PROCTER & GAMBLE CO/THE                       | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     27001 | NS      | $4148703.65   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| YUM! BRANDS INC                               | YUM! BRANDS INC                               | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |      3728 | NS      | $566656.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SKYWORKS SOLS. INC                            | SKYWORKS SOLS. INC                            | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |     17515 | NS      | $1348304.70   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO/THE                     | SCOTTS MIRACLE-GRO CO/THE                     | CUSIP: 810186106<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | EC               | CORP              | US        |     11865 | NS      | $675711.75    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMON PROP. GRP. INC                          | SIMON PROP. GRP. INC                          | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      7578 | NS      | $1422163.26   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| SNAP-ON INC                                   | SNAP-ON INC                                   | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |      2890 | NS      | $1001471.70   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| EDISON INTERNATIONAL                          | EDISON INTERNATIONAL                          | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |     24358 | NS      | $1346510.24   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO/THE                               | SOUTHERN CO/THE                               | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     15071 | NS      | $1428278.67   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORP                             | STATE STREET CORP                             | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     11322 | NS      | $1313465.22   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE                                | PUBLIC STORAGE                                | CUSIP: 74460D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4146 | NS      | $1197572.10   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI CORP                                      | UGI CORP                                      | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     21355 | NS      | $710267.30    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ALTRIA GRP. INC                               | ALTRIA GRP. INC                               | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     38242 | NS      | $2526266.52   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP                            | UNION PACIFIC CORP                            | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     11059 | NS      | $2614015.83   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GRP. INC                         | UNITEDHEALTH GRP. INC                         | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       708 | NS      | $244472.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| VAIL RESORTS INC                              | VAIL RESORTS INC                              | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |      4351 | NS      | $650779.07    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| WILLIAMS-SONOMA INC                           | WILLIAMS-SONOMA INC                           | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      5208 | NS      | $1017903.60   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PLC                                 | ACCENTURE PLC                                 | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      3194 | NS      | $787640.40    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK INC                                     | MERCK INC                                     | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     41299 | NS      | $3466225.07   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP                              | DUKE ENERGY CORP                              | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     15465 | NS      | $1913793.75   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                                  | BROADCOM INC                                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     23766 | NS      | $7840641.06   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| NI US GOV T PORTFOLIO                         | NI US GOV T PORTFOLIO                         | CUSIP: 665278404<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   3829300 | NS      | $3829300.33   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| BATH & BODY WORKS INC                         | BATH & BODY WORKS INC                         | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |       304 | NS      | $7831.04      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED STATES TSY. 0.00%                      | UNITED STATES TSY. 0.00%                      | CUSIP: 912797NL7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    292000 | PA      | $290118.46    | 0.11%             | 2025-11-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OLD DOMINION FREIGHT LINE                     | OLD DOMINION FREIGHT LINE                     | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      4280 | NS      | $602538.40    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXSTAR MEDIA GRP. INC                        | NEXSTAR MEDIA GRP. INC                        | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      3645 | NS      | $720762.30    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEMED CORP                                   | CHEMED CORP                                   | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |       172 | NS      | $77011.28     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWMARKET CORP                                | NEWMARKET CORP                                | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |       324 | NS      | $268340.04    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE INC                                | SALESFORCE INC                                | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      5082 | NS      | $1204434.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| LYONDELLBASELL INDS. NV                       | LYONDELLBASELL INDS. NV                       | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | NL        |     11072 | NS      | $542970.88    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CF INDS. HLDGS. INC                           | CF INDS. HLDGS. INC                           | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |      8704 | NS      | $780748.80    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINL. INC                          | AMERIPRISE FINL. INC                          | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |       699 | NS      | $343383.75    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN COPPER CORP                          | SOUTHERN COPPER CORP                          | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |      7714 | NS      | $936171.04    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                                      | AT&T INC                                      | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     76440 | NS      | $2158665.60   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATL. INFO. SERV                     | FIDELITY NATL. INFO. SERV                     | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     18503 | NS      | $1220087.82   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE US INC                               | T-MOBILE US INC                               | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      4816 | NS      | $1152854.08   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| PARK HOTELS & RESORTS INC                     | PARK HOTELS & RESORTS INC                     | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |     45180 | NS      | $500594.40    | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| TRAVEL + LEISURE CO                           | TRAVEL + LEISURE CO                           | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |      1044 | NS      | $62107.56     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| POOL CORP                                     | POOL CORP                                     | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |        25 | NS      | $7751.75      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN UNION CO/THE                          | WESTERN UNION CO/THE                          | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |     89993 | NS      | $719044.07    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORP                              | EXXON MOBIL CORP                              | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      7996 | NS      | $901549.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| TESLA INC                                     | TESLA INC                                     | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      5268 | NS      | $2342784.96   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                                 | CITIGROUP INC                                 | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     35334 | NS      | $3586401.00   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP                                   | VISTRA CORP                                   | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      2631 | NS      | $515465.52    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPS. INC                               | VICI PROPS. INC                               | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     43429 | NS      | $1416219.69   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOKING HLDGS. INC                            | BOOKING HLDGS. INC                            | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       126 | NS      | $680308.02    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL ELECTRIC CO                           | GENERAL ELECTRIC CO                           | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      2654 | NS      | $798376.28    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADRIDGE FINL. SOLS. IN                     | BROADRIDGE FINL. SOLS. IN                     | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |      3152 | NS      | $750711.84    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| UBIQUITI INC                                  | UBIQUITI INC                                  | CUSIP: 90353W103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1603 | NS      | $1058909.74   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| OTIS WORLDWIDE CORP                           | OTIS WORLDWIDE CORP                           | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |      7397 | NS      | $676307.71    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS PACIFIC LAND CORP                       | TEXAS PACIFIC LAND CORP                       | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       483 | NS      | $450948.12    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORP                             | LAM RESEARCH CORP                             | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     24608 | NS      | $3295011.20   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO LTD                                   | INVESCO LTD                                   | CUSIP: G491BT108<br>LEI: ECPGFXU8A2SHKVVGJI15 | Long             | EC               | CORP              | BM        |     61423 | NS      | $1409043.62   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILIP MORRIS INTL. INC                       | PHILIP MORRIS INTL. INC                       | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     22230 | NS      | $3605706.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ANTERO MIDSTREAM CORP                         | ANTERO MIDSTREAM CORP                         | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42006 | NS      | $816596.64    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| GEN DIGITAL INC                               | GEN DIGITAL INC                               | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |     43013 | NS      | $1221139.07   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE HLDGS. INC                          | EQUITABLE HLDGS. INC                          | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |      8773 | NS      | $445492.94    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BENTLEY SYS. INC                              | BENTLEY SYS. INC                              | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |     14158 | NS      | $728853.84    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| KENVUE INC                                    | KENVUE INC                                    | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |      9826 | NS      | $159475.98    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC/THE                            | HOME DEPOT INC/THE                            | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       558 | NS      | $226096.02    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCKHEED MARTIN CORP                          | LOCKHEED MARTIN CORP                          | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      4198 | NS      | $2095683.58   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| LOUISIANA-PACIFIC CORP                        | LOUISIANA-PACIFIC CORP                        | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      3381 | NS      | $300368.04    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PRINCIPAL FINL. GRP. INC                      | PRINCIPAL FINL. GRP. INC                      | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |     10247 | NS      | $849578.77    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINL. INC                          | PRUDENTIAL FINL. INC                          | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |      9894 | NS      | $1026403.56   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| PEPSICO INC                                   | PEPSICO INC                                   | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      1888 | NS      | $265150.72    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INC                                  | QUALCOMM INC                                  | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     18346 | NS      | $3052040.56   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKWELL AUTOMATION INC                       | ROCKWELL AUTOMATION INC                       | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |      3452 | NS      | $1206577.56   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES L                     | ROYAL CARIBBEAN CRUISES L                     | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |      3484 | NS      | $1127352.72   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAP. CORP                               | RITHM CAP. CORP                               | CUSIP: 64828T201<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EC               | CORP              | US        |     58304 | NS      | $664082.56    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| LAMAR ADVERTISING CO                          | LAMAR ADVERTISING CO                          | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |      5588 | NS      | $684082.96    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST HAWAIIAN INC                            | FIRST HAWAIIAN INC                            | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     30708 | NS      | $762479.64    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLY FINL. INC                                | ALLY FINL. INC                                | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |     14863 | NS      | $582629.60    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEMAIN HLDGS. INC                            | ONEMAIN HLDGS. INC                            | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |     13137 | NS      | $741715.02    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                                  | ALPHABET INC                                  | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     44991 | NS      | $10937312.10  | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| GE VERNOVA INC                                | GE VERNOVA INC                                | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      4433 | NS      | $2725851.70   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HP INC                                        | HP INC                                        | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |     34271 | NS      | $933199.33    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIXMOR PROP. GRP. INC                        | BRIXMOR PROP. GRP. INC                        | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     22134 | NS      | $612669.12    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                                      | VISA INC                                      | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      2812 | NS      | $959960.56    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NETAPP INC                                    | NETAPP INC                                    | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      8577 | NS      | $1016031.42   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC CL A                       | META PLATFORMS INC CL A                       | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      6766 | NS      | $4968815.08   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR PROPERTIES                                | EPR PROPERTIES                                | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     14308 | NS      | $830007.08    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| STARWOOD PROP. TST. INC                       | STARWOOD PROP. TST. INC                       | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |     37863 | NS      | $733406.31    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| WENDY S CO/THE                                | WENDY S CO/THE                                | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Long             | EC               | CORP              | US        |     46051 | NS      | $421827.16    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                                    | ABBVIE INC                                    | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     20236 | NS      | $4685443.44   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP SEMICONDUCTORS NV                         | NXP SEMICONDUCTORS NV                         | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |       996 | NS      | $226819.08    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE CORP                     | BROOKFIELD RENEWABLE CORP                     | CUSIP: 11285B108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      8376 | NS      | $288301.92    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                                | AMAZON.COM INC                                | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     32488 | NS      | $7133390.16   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                                     | AMGEN INC                                     | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      6751 | NS      | $1905132.20   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| AFLAC INC                                     | AFLAC INC                                     | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |     11790 | NS      | $1316943.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| OMEGA HEALTHCARE INVSTRS.                     | OMEGA HEALTHCARE INVSTRS.                     | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |      4212 | NS      | $177830.64    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                                   | NVIDIA CORP                                   | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    125767 | NS      | $23465606.86  | 8.91%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORP                                 | MCKESSON CORP                                 | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |       431 | NS      | $332964.74    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                                     | APPLE INC                                     | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     79341 | NS      | $20202598.83  | 7.67%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATS. INC                             | APPLIED MATS. INC                             | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |       692 | NS      | $141680.08    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AMDOCS LTD                                    | AMDOCS LTD                                    | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |      6969 | NS      | $571806.45    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOMATIC DATA PROCESSING                     | AUTOMATIC DATA PROCESSING                     | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      9310 | NS      | $2732485.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMS. INC                            | VERIZON COMMS. INC                            | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     21572 | NS      | $948089.40    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BEST BUY CO INC                               | BEST BUY CO INC                               | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |     18389 | NS      | $1390576.18   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R BLOCK INC                                 | H&R BLOCK INC                                 | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     10932 | NS      | $552831.24    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBERT HALF INC                               | ROBERT HALF INC                               | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |       840 | NS      | $28543.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| COGNIZANT TECH. SOLS. COR                     | COGNIZANT TECH. SOLS. COR                     | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      9559 | NS      | $641122.13    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                       | BRISTOL-MYERS SQUIBB CO                       | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     46676 | NS      | $2105087.60   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| CAMDEN PROP. TRUST                            | CAMDEN PROP. TRUST                            | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |      6408 | NS      | $684246.24    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED PARCEL SERV. INC                       | UNITED PARCEL SERV. INC                       | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     17538 | NS      | $1464949.14   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CATERPILLAR INC                               | CATERPILLAR INC                               | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |       391 | NS      | $186565.65    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO                           | JPMORGAN CHASE & CO                           | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      8432 | NS      | $2659705.76   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYS. INC                                | CISCO SYS. INC                                | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     56131 | NS      | $3840483.02   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOROX CO/THE                                 | CLOROX CO/THE                                 | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |     10829 | NS      | $1335215.70   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| COLGATE-PALMOLIVE CO                          | COLGATE-PALMOLIVE CO                          | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |       541 | NS      | $43247.54     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| COMERICA INC                                  | COMERICA INC                                  | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |      9557 | NS      | $654845.64    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINION ENERGY INC                           | DOMINION ENERGY INC                           | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     23112 | NS      | $1413761.04   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSOLIDATED EDISON INC                       | CONSOLIDATED EDISON INC                       | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |     14096 | NS      | $1416929.92   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU RES. GRP. INC                             | MDU RES. GRP. INC                             | CUSIP: 552690109<br>LEI: 549300MA0UV6AI6SNV27 | Long             | EC               | CORP              | US        |      9473 | NS      | $168714.13    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CULLEN/FROST BANKERS INC                      | CULLEN/FROST BANKERS INC                      | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |      6062 | NS      | $768479.74    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC                                   | METLIFE INC                                   | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     18801 | NS      | $1548638.37   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                | MORGAN STANLEY                                | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      6389 | NS      | $1015595.44   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| OMNICOM GRP. INC                              | OMNICOM GRP. INC                              | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      6133 | NS      | $500023.49    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| EBAY INC                                      | EBAY INC                                      | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     11216 | NS      | $1020095.20   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                          | BANK OF AMERICA CORP                          | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      5534 | NS      | $285499.06    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| EMERSON ELECTRIC CO                           | EMERSON ELECTRIC CO                           | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |      9144 | NS      | $1199509.92   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RES. INC                                  | EOG RES. INC                                  | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     13042 | NS      | $1462269.04   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY RESIDENTIAL                            | EQUITY RESIDENTIAL                            | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     14976 | NS      | $969396.48    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| FASTENAL CO                                   | FASTENAL CO                                   | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     30073 | NS      | $1474779.92   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| RESMED INC                                    | RESMED INC                                    | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      2769 | NS      | $757958.37    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANKLIN RES. INC                             | FRANKLIN RES. INC                             | CUSIP: 354613101<br>LEI: RIFQSET379FOGTEFKS80 | Long             | EC               | CORP              | US        |     50925 | NS      | $1177895.25   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES INC                           | GILEAD SCIENCES INC                           | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     24103 | NS      | $2675433.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HASBRO INC                                    | HASBRO INC                                    | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |     16057 | NS      | $1217923.45   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLINOIS TOOL WORKS INC                       | ILLINOIS TOOL WORKS INC                       | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      5896 | NS      | $1537440.96   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC                                    | INTUIT INC                                    | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      4781 | NS      | $3264992.71   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                             | JOHNSON & JOHNSON                             | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     14564 | NS      | $2700456.88   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMBERLY-CLARK CORP                           | KIMBERLY-CLARK CORP                           | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |     10955 | NS      | $1362144.70   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY & CO COM NPV                        | ELI LILLY & CO COM NPV                        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       241 | NS      | $183883.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWE S COS INC                                | LOWE S COS INC                                | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      4638 | NS      | $1165575.78   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORP                                  | CHEVRON CORP                                  | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       788 | NS      | $122368.52    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC INV. CORP                                | MGIC INV. CORP                                | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     15204 | NS      | $431337.48    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| HOST HOTELS & RESORTS INC                     | HOST HOTELS & RESORTS INC                     | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |     19646 | NS      | $334374.92    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                                | MICROSOFT CORP                                | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     30636 | NS      | $15867916.20  | 6.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MID-AMERICA APT. COMMUNIT                     | MID-AMERICA APT. COMMUNIT                     | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |      4412 | NS      | $616488.76    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE INC                                      | NIKE INC                                      | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     26668 | NS      | $1859559.64   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD REPUBLIC INTL. CORP                       | OLD REPUBLIC INTL. CORP                       | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |     16175 | NS      | $686952.25    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCHEX INC                                   | PAYCHEX INC                                   | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |      4619 | NS      | $585504.44    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHLUMBERGER NV                               | SCHLUMBERGER NV                               | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     36164 | NS      | $1242956.68   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| MILLICOM INTL. CELLULAR S                     | MILLICOM INTL. CELLULAR S                     | CUSIP: L6388F110<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |     16842 | NS      | $817510.68    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| International Monetary Market                 | FUT. CME MICRO S&P DEC25                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       135 | NC      | $4548656.25   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| OPT. APPLE C 275 17/10/25                     | OPT. APPLE C 275 17/10/25                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -396 | NC      | $-14652.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| OPT. ALPHA C 290 17/10/25                     | OPT. ALPHA C 290 17/10/25                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -449 | NC      | $-5388.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| OPT. TESLA C 600 17/10/25                     | OPT. TESLA C 600 17/10/25                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -52 | NC      | $-3484.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| OPT. NVIDI C 220 17/10/25                     | OPT. NVIDI C 220 17/10/25                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     -1257 | NC      | $-27654.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| OPT. META C 900 17/10/25                      | OPT. META C 900 17/10/25                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       -67 | NC      | $-1072.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| OPT. AMAZO C 275 17/10/25                     | OPT. AMAZO C 275 17/10/25                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      -324 | NC      | $-2268.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Liquid Asset Portfolio | Northern Institutional Liquid Asset Portfolio | CUSIP: 665279105<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   2078818 | NS      | $2078818.25   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Northern Funds

**Signature:** Randal E. Rein

**Name of Signer:** Randal E. Rein

**Title:** Treasurer and Principal Financial Officer