# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0001752724-25-211821
**Filing Date:** 2025-8
**Character Count:** 41282
**Document Hash:** dc93573ccfb58a544f8d96e7c26101a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211821.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211821

**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:** 251273751

**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 All Asset Fund (Series ID: S000020016)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000056130 | Ocean Park Tactical All Asset Fund Class A         | SIRAX           |
| C000056131 | Ocean Park Tactical All Asset Fund Investor Class  | SIRIX           |
| C000056132 | Ocean Park Tactical All Asset Fund Instl Class     | SIRRX           |
| C000084926 | Ocean Park Tactical All Asset Fund Class C         | SIRCX           |
| C000115425 | Ocean Park Tactical All Asset Fund Class A1 shares | SIRZX           |
| C000115426 | Ocean Park Tactical All Asset Fund Class I1 shares | SIRJX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL ALL ASSET FUND** | **OCEAN PARK TACTICAL ALL ASSET FUND** | **OCEAN PARK TACTICAL ALL ASSET 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 — 60.6%** |  |
|  | **EQUITY - 39.7%** |  |
| 128100 | Avantis International Small Cap Value ETF | &nbsp;&nbsp;&nbsp; $10155768 |
| 230400 | Dimensional International Value ETF | &nbsp;&nbsp;&nbsp; 9868032 |
| 112100 | First Trust Utilities AlphaDEX Fund | &nbsp;&nbsp;&nbsp; 4750798 |
| 75200 | Global X MLP & Energy Infrastructure ETF | &nbsp;&nbsp;&nbsp; 4712032 |
| 183700 | iShares Latin America 40 ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4814777 |
| 186900 | iShares MSCI Australia ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4919208 |
| 170500 | iShares MSCI Brazil ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4918925 |
| 112000 | iShares MSCI Canada ETF | &nbsp;&nbsp;&nbsp; 5174400 |
| 67200 | iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp; 6007008 |
| 112300 | iShares MSCI EAFE Min Vol Factor ETF | &nbsp;&nbsp;&nbsp; 9439938 |
| 193800 | iShares MSCI EAFE Value ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 12302424 |
| 80400 | iShares MSCI Eurozone ETF | &nbsp;&nbsp;&nbsp; 4779780 |
| 116200 | iShares MSCI Germany ETF | &nbsp;&nbsp;&nbsp; 4916422 |
| 273800 | iShares MSCI International Momentum Factor ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 12509922 |
| 104100 | iShares MSCI Italy ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5011374 |
| 63900 | iShares MSCI Japan ETF | &nbsp;&nbsp;&nbsp; 4790583 |
| 30100 | iShares U.S. Aerospace & Defense ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5678064 |
| 161300 | iShares US Consumer Goods ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 11368424 |
| 482200 | SPDR Portfolio S&P 500 ETF | &nbsp;&nbsp;&nbsp; 35051118 |
| 126800 | Vanguard FTSE Emerging Markets ETF | &nbsp;&nbsp;&nbsp; 6271528 |
| 42600 | Vanguard Mid-Cap Growth ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 12115014 |
|  |  | &nbsp;&nbsp; 179555539 |
|  | **FIXED INCOME - 20.9%** |  |
| 174600 | Eldridge BBB-B CLO ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4668804 |
| 247200 | First Trust Institutional Preferred Securities and | &nbsp;&nbsp;&nbsp; 4694328 |
| 100400 | First Trust Senior Loan ETF | &nbsp;&nbsp;&nbsp; 4607356 |
| 96400 | Franklin High Yield Corporate ETF | &nbsp;&nbsp;&nbsp; 2347340 |
| 196900 | Invesco Senior Loan ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4119148 |
| 54200 | iShares Convertible Bond ETF | &nbsp;&nbsp;&nbsp; 4883420 |
| 96700 | iShares Floating Rate Bond ETF | &nbsp;&nbsp;&nbsp; 4933634 |
| 57600 | iShares iBoxx High Yield Corporate Bond ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4645440 |
| 119900 | iShares JP Morgan EM Local Currency Bond ETF<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 4842761 |
| 23300 | PGIM Floating Rate Income ETF | &nbsp;&nbsp;&nbsp; 1168728 |
| 175100 | PIMCO Multi Sector Bond Active ETF | &nbsp;&nbsp;&nbsp; 4647154 |

---

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL ALL ASSET FUND** | **OCEAN PARK TACTICAL ALL ASSET FUND** | **OCEAN PARK TACTICAL ALL ASSET 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** |
|  | **EXCHANGE-TRADED FUNDS — 60.6% (Continued)** |  |
|  | **FIXED INCOME - 20.9% (Continued)** |  |
| 246100 | Principal Spectrum Preferred Securities Active ETF | &nbsp;&nbsp;&nbsp; $4668517 |
| 81800 | SPDR Blackstone High Income ETF, USD Class | &nbsp;&nbsp;&nbsp; 2338662 |
| 235400 | VanEck Emerging Markets High Yield Bond ETF | &nbsp;&nbsp;&nbsp; 4665628 |
| 139300 | VanEck Vectors Preferred Securities ex Financials | &nbsp;&nbsp;&nbsp; 2384816 |
| 33300 | Vanguard Intermediate-Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp; 2761236 |
| 313100 | Vanguard Total Bond Market ETF | &nbsp;&nbsp;&nbsp; 23053553 |
| 179000 | Vanguard Total International Bond ETF | &nbsp;&nbsp;&nbsp; 8862290 |
|  |  | &nbsp;&nbsp; 94292815 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $260,350,631)** | &nbsp;&nbsp; 273848354 |
|  | **OPEN END FUNDS — 39.3%** |  |
|  | **ALTERNATIVE - 2.3%** |  |
| 1171533 | DoubleLine Flexible Income Fund, Class I | &nbsp;&nbsp;&nbsp; 10239196 |
| 1 | JPMorgan Hedged Equity Fund, Class I | &nbsp;&nbsp;&nbsp; 34 |
|  |  | &nbsp;&nbsp; 10239230 |
|  | **EQUITY - 1.1%** |  |
| 1 | JPMorgan Emerging Markets Equity Fund, Class I | &nbsp;&nbsp;&nbsp; 38 |
| 354624 | Kopernik Global All-Cap Fund, Class I | &nbsp;&nbsp;&nbsp; 5273260 |
| 300 | Thornburg Investment Income Builder Fund, Class I | &nbsp;&nbsp;&nbsp; 9092 |
|  |  | &nbsp;&nbsp; 5282390 |
|  | **FIXED INCOME - 35.9%** |  |
| 2270 | American Century High Income Fund | &nbsp;&nbsp;&nbsp; 19798 |
| 2 | BlackRock Floating Rate Income Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp; 15 |
| 6734 | BlackRock National Municipal Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 66063 |
| 2174 | Blackrock Series Fund V-BlackRock High Yield, Institutional Class | &nbsp;&nbsp;&nbsp; 15628 |
| 2691 | BlackRock Strategic Income Opportunities Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp; 26046 |
| 2917 | BlackRock Strategic Municipal Opportunities Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 29665 |
| 210380 | Dodge & Cox Global Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 2343631 |
| 1 | JPMorgan Emerging Markets Debt Fund, Class I | &nbsp;&nbsp;&nbsp; 8 |
| 1362773 | JPMorgan Income Fund, Class I | &nbsp;&nbsp;&nbsp; 11706223 |
| 6 | Metropolitan West High Yield Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 55 |
| 2922 | Metropolitan West Total Return Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 26589 |

---

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL ALL ASSET FUND** | **OCEAN PARK TACTICAL ALL ASSET FUND** | **OCEAN PARK TACTICAL ALL ASSET 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** |
|  | **OPEN END FUNDS — 39.3% (Continued)** |  |
|  | **FIXED INCOME - 35.9% (Continued)** |  |
| 3267 | Neuberger Berman Strategic Income Fund, Class I | &nbsp;&nbsp;&nbsp; $33057 |
| 2002 | Nuveen All-American Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 19722 |
| 7306 | Nuveen Bond Index Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 70795 |
| 2278 | Nuveen California Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 22069 |
| 5482 | Nuveen High Yield Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 76852 |
| 2385 | Nuveen Preferred Securities Fund, Class I | &nbsp;&nbsp;&nbsp; 37654 |
| 3739 | Nuveen Short Duration High Yield Municipal Bond, Class I | &nbsp;&nbsp;&nbsp; 35260 |
| 946 | Nuveen Strategic Income Fund, Class I | &nbsp;&nbsp;&nbsp; 9365 |
| 719 | PIMCO Diversified Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 7072 |
| 5585 | PIMCO Emerging Markets Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 48306 |
| 4474 | PIMCO Emerging Markets Local Currency and Bond, Institutional Class | &nbsp;&nbsp;&nbsp; 27467 |
| 24 | PIMCO High Yield Municipal Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 197 |
| 6563492 | PIMCO Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 70688808 |
| 3073014 | PIMCO International Bond Fund U.S. Dollar-Hedged, Institutional Class | &nbsp;&nbsp;&nbsp; 30545755 |
| 9238 | PIMCO Investment Grade Credit Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 83975 |
| 8 | PIMCO Long-Term Credit Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 71 |
| 1330 | PIMCO Real Return Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 13683 |
| 4636 | PIMCO Total Return Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 40240 |
| 1565843 | Principal Spectrum Preferred and Capital Securities Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 14531018 |
| 9630 | TCW Emerging Markets Income Fund, Class I | &nbsp;&nbsp;&nbsp; 63752 |
| 1616385 | Thornburg Strategic Income Fund, Class I | &nbsp;&nbsp;&nbsp; 18588423 |
| 1362459 | Voya Securitized Credit Fund, Class I | &nbsp;&nbsp;&nbsp; 13120485 |
|  |  | &nbsp;&nbsp; 162297747 |
|  | **MIXED ALLOCATION - 0.0%<sup>(c)</sup>** |  |
| 1636 | Nuveen Real Asset Income Fund, Class I | &nbsp;&nbsp;&nbsp; 36178 |
|  | **TOTAL OPEN END FUNDS (Cost $169,589,513)** | &nbsp;&nbsp; 177855545 |

---

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL ALL ASSET FUND** | **OCEAN PARK TACTICAL ALL ASSET FUND** | **OCEAN PARK TACTICAL ALL ASSET 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 — 8.8%** |  |
|  | **COLLATERAL FOR SECURITIES LOANED - 8.5%** |  |
| 38123583 | First American Government Obligations Fund, Class X, 4.25%<sup>(b)(d)</sup> **(Cost $38,123,583)** | &nbsp;&nbsp;&nbsp; $38123583 |
|  | **MONEY MARKET FUND - 0.3%** |  |
| 1512598 | First American Government Obligations Fund, Class X, 4.25%<sup>(d)</sup> **(Cost $1,512,598)** | &nbsp;&nbsp;&nbsp; 1512598 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $39,636,181)** | 39636181 |
|  | **TOTAL INVESTMENTS - 108.7% (Cost $469,576,325)** | &nbsp;&nbsp;&nbsp; $491340080 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (8.7)%** | &nbsp;&nbsp; (39336685) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $452003395 |

---

---

| | |
|:---|:---|
| CLO | - Collateralized Loan Obligation |
| EAFE | - Europe, Australasia and Far East |
| ETF | - Exchange-Traded Fund |
| MLP | - Master Limited Partnership |
| MSCI | - Morgan Stanley Capital International |
| 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 $37,544,974, 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 $38,123,583 at June 30, 2025. |
| <sup>(c)</sup> | Percentage rounds to less than 0.1%. |
| <sup>(d)</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 All Asset Fund

- **b. EDGAR series identifier (if any):** S000020016

- **c. LEI of Series:** 549300EKTD0XLN4SGF59

**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:** $453237938.42

**Total Liabilities:** $1234543.32

**Net Assets:** $452003395.10

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000056132 | -2.64%               | 1.62%                | 2.17%                |
| Class ID C000115426 | -2.68%               | 1.59%                | 2.12%                |
| Class ID C000056130 | -2.66%               | 1.55%                | 2.17%                |
| Class ID C000084926 | -2.73%               | 1.50%                | 2.12%                |
| Class ID C000056131 | -2.66%               | 1.56%                | 2.18%                |
| Class ID C000115425 | -2.67%               | 1.54%                | 2.14%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-7814119.24             | $-6279400.18                               |
| Month 2  | $1409008.42              | $5146193.99                                |
| Month 3  | $-2537.82                | $7093969.06                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Doubleline Funds Trust                           | DBL-FLX INC-I             | CUSIP: 258620798<br>LEI: 549300MUFFXFRMY0RH66 | Long             | EC               | RF                | US        |   1165912 | NS      | $10190073.02  | 2.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Investments Trust V                       | NVN-PREF SEC-I            | CUSIP: 670700400<br>LEI: 5493005YOHPRCB8M2Y83 | Long             | EC               | RF                | US        |      2373 | NS      | $37467.70     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds                                      | PIMCO-HY MUNI-I           | CUSIP: 72201F672<br>LEI: N/A                  | Long             | EC               | RF                | US        |        24 | NS      | $196.38       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Municipal Series Trust                 | BLRK-STR MUN-I            | CUSIP: 09253E609<br>LEI: N13FNQG6SVW6WDIWRJ75 | Long             | EC               | RF                | US        |      2907 | NS      | $29564.23     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| American Century ETF Trust                       | AVANTIS INTL S/C          | CUSIP: 025072802<br>LEI: 5493006IKK34YJD98183 | Long             | EC               | RF                | US        |    128100 | NS      | $10155768.00  | 2.25%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds                                      | PIMCO-L/T CR-INS          | CUSIP: 72201P647<br>LEI: N/A                  | Long             | EC               | RF                | US        |         8 | NS      | $71.11        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI INT          | CUSIP: 46434V449<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    273800 | NS      | $12509922.00  | 2.77%             |  |  |  | No            | 1                  | On Loan: —       |
| First Trust Exchange-Traded Fund II              | FIRST TRUST UTILITIES ALP | CUSIP: 33734X184<br>LEI: N/A                  | Long             | EC               | RF                | US        |    112100 | NS      | $4750798.00   | 1.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Municipal Bond Fund Inc                | BLKR-NTL MUN-INS          | CUSIP: 09253C876<br>LEI: N/A                  | Long             | EC               | RF                | US        |      6713 | NS      | $65851.40     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Funds V                                | BLK-FLOAT RA-INS          | CUSIP: 09260B747<br>LEI: 54930077DSFQPJDWM487 | Long             | EC               | RF                | US        |         2 | NS      | $14.90        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI GER          | CUSIP: 464286806<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |    116200 | NS      | $4916422.00   | 1.09%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series | PIMCO-RL RTN-INS          | CUSIP: 693391104<br>LEI: N/A                  | Long             | EC               | RF                | US        |      1325 | NS      | $13633.59     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Scottsdale Funds                        | VANGUARD INT TER          | CUSIP: 92206C870<br>LEI: 549300Y88GQ3VLJIBX57 | Long             | EC               | RF                | US        |     33300 | NS      | $2761236.00   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard International Equity Index Funds        | VANGUARD FTSE EM          | CUSIP: 922042858<br>LEI: 549300UR5XWDVDO7NP96 | Long             | EC               | RF                | US        |    126800 | NS      | $6271528.00   | 1.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI ITA          | CUSIP: 46434G830<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |    104100 | NS      | $5011374.00   | 1.11%             |  |  |  | No            | 1                  | On Loan: —       |
| Advisors Inner Circle Fund II                    | KOPER-GL A/C-INS          | CUSIP: 00766Y299<br>LEI: 549300OEHDTB2ALCAX69 | Long             | EC               | RF                | US        |    354624 | NS      | $5273259.90   | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Principal Funds Inc                              | PRIN-PR & CA-INS          | CUSIP: 74253Q416<br>LEI: 549300HZGBXSW6DSXF23 | Long             | EC               | RF                | US        |   1565843 | NS      | $14531018.44  | 3.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Funds V                                | BLR-SF V-BRHY-IS          | CUSIP: 09260B630<br>LEI: 54930077DSFQPJDWM487 | Long             | EC               | RF                | US        |      2162 | NS      | $15541.62     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tcw Funds Inc                                    | TCW EMERGING MAR          | CUSIP: 87234N765<br>LEI: 54930078E2I2DS4UJ217 | Long             | EC               | RF                | US        |      9582 | NS      | $63912.70     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Municipal                                 | NVN-H/Y MUN-I             | CUSIP: 67065Q772<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |      5455 | NS      | $76483.36     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI CAN          | CUSIP: 464286509<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |    112000 | NS      | $5174400.00   | 1.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Funds V                                | BLKR-STR INC-INS          | CUSIP: 09260B382<br>LEI: 54930077DSFQPJDWM487 | Long             | EC               | RF                | US        |      2680 | NS      | $25944.57     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI EUR          | CUSIP: 464286608<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     80400 | NS      | $4779780.00   | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI EAF          | CUSIP: 464288877<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    193800 | NS      | $12302424.00  | 2.72%             |  |  |  | No            | 1                  | On Loan: —       |
| Series Portfolios Trust                          | ELD BBB-B CL ETF          | CUSIP: 81752T528<br>LEI: 5493008VNHP5UNYJ3713 | Long             | EC               | RF                | US        |    174600 | NS      | $4668804.00   | 1.03%             |  |  |  | No            | 1                  | On Loan: —       |
| iShares Trust                                    | ISHARES U.S. AER          | CUSIP: 464288760<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     30100 | NS      | $5678064.00   | 1.26%             |  |  |  | No            | 1                  | On Loan: —       |
| JP Morgan Trust I                                | JPM-HDG EQTY-I            | CUSIP: 46637K281<br>LEI: 549300DM5WZMCZZ70R78 | Long             | EC               | RF                | US        |         1 | NS      | $34.06        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI EAF          | CUSIP: 46429B689<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    112300 | NS      | $9439938.00   | 2.09%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series | PIMCO-IN B $-INS          | CUSIP: 693390882<br>LEI: N/A                  | Long             | EC               | RF                | US        |   3061531 | NS      | $30431621.43  | 6.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Invesco Exchange Traded Fund Trust II            | INVESCO SENIOR L          | CUSIP: 46138G508<br>LEI: O540V2L4S174Y60FMD36 | Long             | EC               | RF                | US        |    196900 | NS      | $4119148.00   | 0.91%             |  |  |  | No            | 1                  | On Loan: —       |
| PIMCO Funds Pacific Investment Management Series | PIMCO-I/G CR-INS          | CUSIP: 722005816<br>LEI: N/A                  | Long             | EC               | RF                | US        |      9203 | NS      | $83658.36     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO ETF Trust                                  | PIMCO MULTI SECT          | CUSIP: 72201R585<br>LEI: 5493004M9TBGFQUJ6D27 | Long             | EC               | RF                | US        |    175100 | NS      | $4647154.00   | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI AUS          | CUSIP: 464286103<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |    186900 | NS      | $4919208.00   | 1.09%             |  |  |  | No            | 1                  | On Loan: —       |
| Dimensional ETF Trust                            | DIM INTL VALUE            | CUSIP: 25434V807<br>LEI: 549300TQ0DPO13B72F34 | Long             | EC               | RF                | US        |    230400 | NS      | $9868032.00   | 2.18%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series | PIMCO-E/M BD-INS          | CUSIP: 693391559<br>LEI: N/A                  | Long             | EC               | RF                | US        |      5556 | NS      | $48055.56     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Municipal                                 | NVN-SH DUR HY-I           | CUSIP: 67065Q699<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |      3723 | NS      | $35107.24     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES LATIN AM          | CUSIP: 464287390<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    183700 | NS      | $4814777.00   | 1.07%             |  |  |  | No            | 1                  | On Loan: —       |
| Nuveen Core Bond Fund                            | NUVEEN BOND INDE          | CUSIP: 87245M848<br>LEI: 549300L8R42TEBN5NG46 | Long             | EC               | RF                | US        |      7283 | NS      | $70575.65     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| VanEck ETF Trust                                 | VANECK EMERGING           | CUSIP: 92189F353<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |    235400 | NS      | $4665628.00   | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES FLOATING          | CUSIP: 46429B655<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     96700 | NS      | $4933634.00   | 1.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Municipal                                 | NVN-ALL AMER-I            | CUSIP: 67065Q855<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |      1995 | NS      | $19649.48     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dodge & Cox Funds                                | D&C-GL BND -I             | CUSIP: 256206301<br>LEI: 549300R3H2V5UI5MR803 | Long             | EC               | RF                | US        |    210380 | NS      | $2343630.89   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds                                      | PIMCO-INCOME-INS          | CUSIP: 72201F490<br>LEI: N/A                  | Long             | EC               | RF                | US        |   6530144 | NS      | $70329649.71  | 15.56%            |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI BRA          | CUSIP: 464286400<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |    170500 | NS      | $4918925.00   | 1.09%             |  |  |  | No            | 1                  | On Loan: —       |
| iShares Trust                                    | ISHARES IBOXX HI          | CUSIP: 464288513<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     57600 | NS      | $4645440.00   | 1.03%             |  |  |  | No            | 1                  | On Loan: —       |
| Nuveen Investment Funds                          | NVN-STR INC-I             | CUSIP: 670678390<br>LEI: T3MQBTRBVMWQY3LBIL50 | Long             | EC               | RF                | US        |       941 | NS      | $9314.83      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series | PIMCO-T/R-INS             | CUSIP: 693390700<br>LEI: N/A                  | Long             | EC               | RF                | US        |      4619 | NS      | $40096.91     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| VanEck ETF Trust                                 | VANECK VECTORS PREFERRED  | CUSIP: 92189F429<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |    139300 | NS      | $2384816.00   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Bond Index Funds                        | VANGUARD TOTAL B          | CUSIP: 921937835<br>LEI: 549300INE5BF80OGAZ51 | Long             | EC               | RF                | US        |    313100 | NS      | $23053553.00  | 5.10%             |  |  |  | No            | 1                  | On Loan: No      |
| First Trust Exchange-Traded Fund IV              | FT-SENIOR LOAN            | CUSIP: 33738D309<br>LEI: 5493006CBTW7P2B31B80 | Long             | EC               | RF                | US        |    100400 | NS      | $4607356.00   | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| JP Morgan Trust I                                | JPM-EM MKT E-I            | CUSIP: 4812A0623<br>LEI: 549300DM5WZMCZZ70R78 | Long             | EC               | RF                | US        |         1 | NS      | $37.93        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SSGA Active Trust                                | SPDR HI INCOME            | CUSIP: 78470P846<br>LEI: 549300MAXSRPQ75ICU67 | Long             | EC               | RF                | US        |     81800 | NS      | $2338662.00   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| First Trust Exchange-Traded Fund III             | FIRST TRUST INST          | CUSIP: 33739P855<br>LEI: 5493003Z20QMESC6XS29 | Long             | EC               | RF                | US        |    247200 | NS      | $4694328.00   | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES US CONSUMER GOODS | CUSIP: 464287812<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    161300 | NS      | $11368424.00  | 2.52%             |  |  |  | No            | 1                  | On Loan: —       |
| PIMCO Funds                                      | PIMCO-EM L C-INS          | CUSIP: 72201F516<br>LEI: N/A                  | Long             | EC               | RF                | US        |      4450 | NS      | $27325.81     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| PGIM ETF Trust                                   | PGIM FLOATING RA          | CUSIP: 69344A883<br>LEI: 549300OXS91LYTDQF355 | Long             | EC               | RF                | US        |     23300 | NS      | $1168728.00   | 0.26%             |  |  |  | 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      |
| First American Funds Inc.                        | FRST AM-GV OB-X           | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   1512598 | PA      | $1512598.08   | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI EAF          | CUSIP: 464287465<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     67200 | NS      | $6007008.00   | 1.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Metropolitan West Funds                          | MW-H/Y BND-I              | CUSIP: 592905848<br>LEI: 549300KGDNJW6FXNDC82 | Long             | EC               | RF                | US        |         6 | NS      | $54.38        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Neuberger Berman Income Funds                    | NEUBERGER-STRA-I          | CUSIP: 64128K751<br>LEI: 54930087F7MMJ21RIJ90 | Long             | EC               | RF                | US        |      3252 | NS      | $32875.39     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Series Trust                                | SPDR PORT SP 500          | CUSIP: 78464A854<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    482200 | NS      | $35051118.00  | 7.75%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series | PIMCO-DIV IN-INS          | CUSIP: 693391880<br>LEI: N/A                  | Long             | EC               | RF                | US        |       716 | NS      | $7041.16      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI JPN          | CUSIP: 46434G822<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     63900 | NS      | $4790583.00   | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Principal Exchange-Traded Funds                  | PRNC SPCT PREF            | CUSIP: 74255Y888<br>LEI: 549300AG76V5U32HWF10 | Long             | EC               | RF                | US        |    246100 | NS      | $4668517.00   | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Thornburg Investment Trust                       | THRNB-STR IN-I            | CUSIP: 885215194<br>LEI: 5493001XM52H8S4WYY82 | Long             | EC               | RF                | US        |   1609599 | NS      | $18510388.98  | 4.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Metropolitan West Funds                          | MW-T/R BND-I              | CUSIP: 592905509<br>LEI: 549300KGDNJW6FXNDC82 | Long             | EC               | RF                | US        |      2912 | NS      | $26499.75     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Franklin Templeton ETF Trust                     | FRANKLIN HIGH YI          | CUSIP: 35473P629<br>LEI: 549300UHXVPT5S43XV04 | Long             | EC               | RF                | US        |     96400 | NS      | $2347340.00   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| JP Morgan Trust I                                | JPM IMCOME-I              | CUSIP: 46637K224<br>LEI: 549300DM5WZMCZZ70R78 | Long             | EC               | RF                | US        |   1356035 | NS      | $11648344.40  | 2.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Voya Separate  Portfolios Tr                     | VOYA-SECUR CR-I           | CUSIP: 92913M732<br>LEI: 549300ZK3E04XAD4QG44 | Long             | EC               | RF                | US        |   1356586 | NS      | $13063927.90  | 2.89%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES CONVT BD          | CUSIP: 46435G102<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     54200 | NS      | $4883420.00   | 1.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Multistate                                | NVN-CA MUNI-I             | CUSIP: 67065N407<br>LEI: 549300IEL53UNMUSWW03 | Long             | EC               | RF                | US        |      2270 | NS      | $21995.18     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Charlotte Funds                         | VANGUARD INTL BD          | CUSIP: 92203J407<br>LEI: 549300Z9BHDBGHMJLU94 | Long             | EC               | RF                | US        |    179000 | NS      | $8862290.00   | 1.96%             |  |  |  | No            | 1                  | On Loan: No      |
| JP Morgan Trust I                                | JPM-EM MKT D-I            | CUSIP: 4812A0748<br>LEI: 549300DM5WZMCZZ70R78 | Long             | EC               | RF                | US        |         1 | NS      | $7.50         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Thornburg Investment Trust                       | THRNB-INC BLD-I           | CUSIP: 885215467<br>LEI: 5493001XM52H8S4WYY82 | Long             | EC               | RF                | US        |       300 | NS      | $9092.16      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Index Funds                             | VANGUARD M/C GRW          | CUSIP: 922908538<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |     42600 | NS      | $12115014.00  | 2.68%             |  |  |  | No            | 1                  | On Loan: —       |
| Global X Funds                                   | GLOBAL X MLP & E          | CUSIP: 37954Y293<br>LEI: 5493003RA4QUTSYF1N15 | Long             | EC               | RF                | US        |     75200 | NS      | $4712032.00   | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| American Century Investment Trust                | AC-HI INC-Y               | CUSIP: 024932154<br>LEI: 549300RGSU9J1L1HFF90 | Long             | EC               | RF                | US        |      2258 | NS      | $19691.12     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Investment Funds                          | NVN-R/A INC-I             | CUSIP: 670690155<br>LEI: T3MQBTRBVMWQY3LBIL50 | Long             | EC               | RF                | US        |      1629 | NS      | $36028.64     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES JP MORGAN EM LOCA | CUSIP: 464286517<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |    119900 | NS      | $4842761.00   | 1.07%             |  |  |  | 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