# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0001752724-25-211825
**Filing Date:** 2025-8
**Character Count:** 37206
**Document Hash:** c6029775f58090d283c5d1681d9f8cd6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211825.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211825

**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:** 251273755

**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 Core Income Fund (Series ID: S000035209)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000108313 | Ocean Park Tactical Core Income Fund Class A Shares | SSIZX           |
| C000108314 | Ocean Park Tactical Core Income Fund Class C Shares | SSICX           |
| C000108315 | Ocean Park Tactical Core Income Fund Investor Class | SSIIX           |
| C000108316 | Ocean Park Tactical Core Income Fund Instl Class    | SSIRX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL CORE INCOME FUND** | **OCEAN PARK TACTICAL CORE INCOME FUND** | **OCEAN PARK TACTICAL CORE INCOME 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 — 55.0%** |  |
|  | **EQUITY - 1.1%** |  |
| 229900 | Global X MLP & Energy Infrastructure ETF | &nbsp;&nbsp;&nbsp; $14405534 |
|  | **FIXED INCOME - 53.9%** |  |
| 392700 | First Trust Preferred Securities and Income ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 6990060 |
| 584300 | Franklin Senior Loan ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 14157589 |
| 560100 | Global X US Preferred ETF | &nbsp;&nbsp;&nbsp; 10546683 |
| 6190400 | Invesco Senior Loan ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 129503168 |
| 293400 | iShares 3-7 Year Treasury Bond ETF | &nbsp;&nbsp;&nbsp; 34941006 |
| 165700 | iShares Convertible Bond ETF | &nbsp;&nbsp;&nbsp; 14929570 |
| 504400 | iShares Floating Rate Bond ETF | &nbsp;&nbsp;&nbsp; 25734488 |
| 351500 | iShares iBoxx High Yield Corporate Bond ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 28348475 |
| 307800 | iShares MBS ETF | &nbsp;&nbsp;&nbsp; 28899342 |
| 699400 | iShares Preferred and Income Securities ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 21457592 |
| 1070200 | PIMCO Multi Sector Bond Active ETF | &nbsp;&nbsp;&nbsp; 28403108 |
| 208900 | Pimco Senior Loan Active ETF | &nbsp;&nbsp;&nbsp; 10652438 |
| 348300 | SPDR Bloomberg Barclays Emerging Markets Local ETF | &nbsp;&nbsp;&nbsp; 7453620 |
| 545100 | SPDR Bloomberg Convertible Securities ETF | &nbsp;&nbsp;&nbsp; 45057966 |
| 461700 | SPDR Bloomberg International Treasury Bond ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 10845333 |
| 835100 | SPDR Bloomberg Investment Grade Floating Rate ETF | &nbsp;&nbsp;&nbsp; 25746133 |
| 265100 | Vaneck CLO ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 14037045 |
| 2173500 | VanEck J. P. Morgan EM Local Currency Bond ETF | &nbsp;&nbsp;&nbsp; 55098225 |
| 586700 | VanEck Vectors Investment Grade Floating Rate ETF | &nbsp;&nbsp;&nbsp; 14960850 |
| 1924300 | Vanguard Total Bond Market ETF | &nbsp;&nbsp;&nbsp; 141686209 |
| 1331100 | Vanguard Total International Bond ETF | &nbsp;&nbsp;&nbsp; 65902761 |
|  |  | &nbsp;&nbsp; 735351661 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $737,823,495)** | &nbsp;&nbsp; 749757195 |
|  | **OPEN END FUNDS — 45.0%** |  |
|  | **ALTERNATIVE - 2.1%** |  |
| 2649949 | Metropolitan West Unconstrained Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 27559467 |
| 61500 | Victory Market Neutral Income Fund, Class I | &nbsp;&nbsp;&nbsp; 538127 |
|  |  | &nbsp;&nbsp; 28097594 |

---

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL CORE INCOME FUND** | **OCEAN PARK TACTICAL CORE INCOME FUND** | **OCEAN PARK TACTICAL CORE INCOME 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 — 45.0% (Continued)** |  |
|  | **FIXED INCOME - 42.9%** |  |
| 9963 | Allspring Municipal Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; $94550 |
| 5805 | American Century High Income Fund, Class I | &nbsp;&nbsp;&nbsp; 50624 |
| 3314831 | Angel Oak Multi-Strategy Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 28739589 |
| 1924 | Aristotle Floating Rate Income Fund, Class I | &nbsp;&nbsp;&nbsp; 18109 |
| 2712 | BlackRock Floating Rate Income Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp; 26034 |
| 19218 | BlackRock National Municipal Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 188527 |
| 2963 | BlackRock New York Municipal Opportunities Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 30222 |
| 8022 | Blackrock Series Fund V-BlackRock High Yield, Institutional Class | &nbsp;&nbsp;&nbsp; 57682 |
| 7663 | BlackRock Strategic Income Opportunities Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp; 74179 |
| 8219 | BlackRock Strategic Municipal Opportunities Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 83583 |
| 7954 | Credit Suisse Floating Rate High Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 49556 |
| 1285529 | Dodge & Cox Global Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 14320790 |
| 695 | Fidelity Capital & Income Fund, Class I | &nbsp;&nbsp;&nbsp; 7274 |
| 4157581 | FPA New Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 41575807 |
| 2206179 | Holbrook Income Fund, Class I | &nbsp;&nbsp;&nbsp; 21554366 |
| 1 | JPMorgan Emerging Markets Debt Fund, Class I | &nbsp;&nbsp;&nbsp; 7 |
| 8158518 | JPMorgan Income Fund, Class I | &nbsp;&nbsp;&nbsp; 70081667 |
| 2914521 | JPMorgan Mortgage-Backed Securities Fund, Class I | &nbsp;&nbsp;&nbsp; 29873841 |
| 373829 | Leader Capital High Quality Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 4142021 |
| 1283 | Medalist Partners MBS Total Return Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 11071 |
| 11869 | Metropolitan West Total Return Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 108012 |
| 862 | Neuberger Berman Floating Rate Income Fund, Class I | &nbsp;&nbsp;&nbsp; 8075 |
| 10185 | Neuberger Berman Strategic Income Fund, Class I | &nbsp;&nbsp;&nbsp; 103075 |
| 9879 | Nuveen All-American Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 97310 |
| 23343 | Nuveen Bond Index Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 226190 |
| 19936 | Nuveen High Yield Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 279496 |
| 1946 | Nuveen Intermediate Duration Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 16989 |
| 2315 | Nuveen Preferred Securities Fund, Class I | &nbsp;&nbsp;&nbsp; 36552 |
| 10549 | Nuveen Short Duration High Yield Municipal Bond, Class I | &nbsp;&nbsp;&nbsp; 99481 |
| 34 | Nuveen Strategic Income Fund, Class I | &nbsp;&nbsp;&nbsp; 335 |
| 10854 | PIMCO Diversified Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 106803 |
| 3906654 | PIMCO Dynamic Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 39691609 |
| 13769 | PIMCO Emerging Markets Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 119103 |
| 10164 | PIMCO Emerging Markets Local Currency and Bond, Institutional Class | &nbsp;&nbsp;&nbsp; 62408 |

---

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL CORE INCOME FUND** | **OCEAN PARK TACTICAL CORE INCOME FUND** | **OCEAN PARK TACTICAL CORE INCOME 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 — 45.0% (Continued)** |  |
|  | **FIXED INCOME - 42.9% (Continued)** |  |
| 16430 | PIMCO High Yield Municipal Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; $135051 |
| 18550889 | PIMCO Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 199793077 |
| 7713861 | PIMCO International Bond Fund U.S. Dollar-Hedged, Institutional Class | &nbsp;&nbsp;&nbsp; 76675782 |
| 502 | PIMCO International Bond Fund Unhedged, Institutional Class | &nbsp;&nbsp;&nbsp; 4022 |
| 14482 | PIMCO Investment Grade Credit Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 131638 |
| 7447 | PIMCO Long-Term Credit Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 65611 |
| 764 | PIMCO Low Duration Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 6246 |
| 4052 | PIMCO Real Return Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 41700 |
| 10577 | PIMCO Total Return Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 91810 |
| 4643361 | Principal Spectrum Preferred and Capital Securities Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 43090389 |
| 1324657 | Thompson Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 13975127 |
| 1258 | Thornburg Strategic Income Fund, Class I | &nbsp;&nbsp;&nbsp; 14462 |
|  |  | &nbsp;&nbsp; 585959852 |
|  | **TOTAL OPEN END FUNDS (Cost $592,672,959)** | &nbsp;&nbsp; 614057446 |
|  | **SHORT-TERM INVESTMENTS — 6.8%** |  |
|  | **COLLATERAL FOR SECURITIES LOANED - 6.6%** |  |
| 91117770 | First American Government Obligations Fund, Class X, 4.25%<sup>(b)(c)</sup> **(Cost $91,117,770)** | &nbsp;&nbsp;&nbsp; 91117770 |
|  | **MONEY MARKET FUND - 0.2%** |  |
| 2290934 | First American Government Obligations Fund, Class X, 4.25%<sup>(c)</sup> **(Cost $2,290,934)** | &nbsp;&nbsp;&nbsp; 2290934 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $93,408,704)** | 93408704 |
|  | **TOTAL INVESTMENTS - 106.8% (Cost $1,423,905,158)** | &nbsp;&nbsp;&nbsp; $1457223345 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (6.8)%** | &nbsp;&nbsp; (92556284) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $1364667061 |

---

---

| | |
|:---|:---|
| ETF | - Exchange-Traded Fund |
| SPDR | - Standard & Poor's Depositary Receipt |
| <sup>(a)</sup> | All or a portion of the security is on loan. The total value of the securities on loan was $89,141,795, 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 $91,117,770 at June 30, 2025. |
| <sup>(c)</sup> | Rate disclosed is the seven day effective yield as of June 30, 2025. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 631-470-2600

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

- **a. Name of Series:** Ocean Park Tactical Core Income Fund

- **b. EDGAR series identifier (if any):** S000035209

- **c. LEI of Series:** 549300Q5IJASQRM4OG72

**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:** $1365975940.88

**Total Liabilities:** $1308880.05

**Net Assets:** $1364667060.83

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000108313 | -1.62%               | -0.01%               | 1.39%                |
| Class ID C000108315 | -1.62%               | -0.01%               | 1.39%                |
| Class ID C000108316 | -1.59%               | 0.02%                | 1.43%                |
| Class ID C000108314 | -1.68%               | -0.06%               | 1.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-33713563.95            | $3141249.15                                |
| Month 2  | $-4172950.63             | $-884105.39                                |
| Month 3  | $1246.07                 | $14023094.12                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| PIMCO Funds Pacific Investment Management Series | PIMCO-IN B U-INS          | CUSIP: 722005220<br>LEI: N/A                  | Long             | EC               | RF                | US        |       500 | NS      | $4007.69      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Two Roads Shared Trust                           | HOLBR-INCOME-I            | CUSIP: 90213U230<br>LEI: 549300REHU8QC2CK4V30 | Long             | EC               | RF                | US        |   2195722 | NS      | $21452201.57  | 1.57%             |  |  |  | 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        |     10540 | NS      | $91483.55     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds                                      | PIMCO-L/T CR-INS          | CUSIP: 72201P647<br>LEI: N/A                  | Long             | EC               | RF                | US        |      7413 | NS      | $65309.59     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Angel Oak Funds Trust                            | A/O-M/S INC-INS           | CUSIP: 03463K406<br>LEI: N/A                  | Long             | EC               | RF                | US        |   3299635 | NS      | $28607831.18  | 2.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Bond Index Funds                        | VANGUARD TOTAL B          | CUSIP: 921937835<br>LEI: 549300INE5BF80OGAZ51 | Long             | EC               | RF                | US        |   1924300 | NS      | $141686209.00 | 10.38%            |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES IBOXX HI          | CUSIP: 464288513<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    351500 | NS      | $28348475.00  | 2.08%             |  |  |  | No            | 1                  | On Loan: —       |
| iShares Trust                                    | ISHARES FLOATING          | CUSIP: 46429B655<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    504400 | NS      | $25734488.00  | 1.89%             |  |  |  | No            | 1                  | On Loan: No      |
| JP Morgan Trust I                                | JPM IMCOME-I              | CUSIP: 46637K224<br>LEI: 549300DM5WZMCZZ70R78 | Long             | EC               | RF                | US        |   8118180 | NS      | $69735165.10  | 5.11%             |  |  |  | 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        |     10807 | NS      | $106343.01    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| JP Morgan Trust Ii                               | JPMORGAN MTGE BACK SEC-R6 | CUSIP: 4812C0159<br>LEI: 549300IMXLYKELY96B40 | Long             | EC               | RF                | US        |   2914521 | NS      | $29902985.93  | 2.19%             |  |  |  | No            | 1                  | On Loan: No      |
| First American Funds Inc.                        | FRST AM-GV OB-X           | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   2290934 | PA      | $2290933.87   | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Municipal                                 | NVN-SH DUR HY-I           | CUSIP: 67065Q699<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |     10504 | NS      | $99050.50     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Investments Trust V                       | NVN-PREF SEC-I            | CUSIP: 670700400<br>LEI: 5493005YOHPRCB8M2Y83 | Long             | EC               | RF                | US        |      2303 | NS      | $36371.51     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dodge & Cox Funds                                | D&C-GL BND -I             | CUSIP: 256206301<br>LEI: 549300R3H2V5UI5MR803 | Long             | EC               | RF                | US        |   1285529 | NS      | $14320790.26  | 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        |     19156 | NS      | $187922.32    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Global X Funds                                   | GLOBAL X MLP & E          | CUSIP: 37954Y293<br>LEI: 5493003RA4QUTSYF1N15 | Long             | EC               | RF                | US        |    229900 | NS      | $14405534.00  | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Metropolitan West Funds                          | MW-T/R BND-I              | CUSIP: 592905509<br>LEI: 549300KGDNJW6FXNDC82 | Long             | EC               | RF                | US        |     11830 | NS      | $107649.38    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Series Trust                                | SPDR BLOOMBERG E          | CUSIP: 78464A391<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    348300 | NS      | $7453620.00   | 0.55%             |  |  |  | No            | 1                  | On Loan: —       |
| PIMCO Funds Pacific Investment Management Series | PIMCO-LW DUR-INS          | CUSIP: 722005170<br>LEI: N/A                  | Long             | EC               | RF                | US        |       761 | NS      | $6216.75      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds                                      | PIMCO-HY MUNI-I           | CUSIP: 72201F672<br>LEI: N/A                  | Long             | EC               | RF                | US        |     16370 | NS      | $134558.54    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Neuberger Berman Income Funds                    | NEUBERGER-STRA-I          | CUSIP: 64128K751<br>LEI: 54930087F7MMJ21RIJ90 | Long             | EC               | RF                | US        |     10139 | NS      | $102508.62    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Series Trust                                | SPDR BLOOMBERG C          | CUSIP: 78464A359<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    545100 | NS      | $45057966.00  | 3.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Charlotte Funds                         | VANGUARD INTL BD          | CUSIP: 92203J407<br>LEI: 549300Z9BHDBGHMJLU94 | Long             | EC               | RF                | US        |   1331100 | NS      | $65902761.00  | 4.83%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MBS ETF           | CUSIP: 464288588<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    307800 | NS      | $28899342.00  | 2.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Funds V                                | BLR-SF V-BRHY-IS          | CUSIP: 09260B630<br>LEI: 54930077DSFQPJDWM487 | Long             | EC               | RF                | US        |      7978 | NS      | $57364.55     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Core Bond Fund                            | NUVEEN BOND INDE          | CUSIP: 87245M848<br>LEI: 549300L8R42TEBN5NG46 | Long             | EC               | RF                | US        |     23270 | NS      | $225487.87    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Investment Funds                          | NVN-STR INC-I             | CUSIP: 670678390<br>LEI: T3MQBTRBVMWQY3LBIL50 | Long             | EC               | RF                | US        |        34 | NS      | $332.81       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Investment Managers Series Trust III             | FPA-NEW INC-INS           | CUSIP: 30254T643<br>LEI: 549300H7BXP5EUEHOJ64 | Long             | EC               | RF                | US        |   4157581 | NS      | $41575807.36  | 3.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Municipal                                 | NVV-INT DUR-I             | CUSIP: 67065Q400<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |      1941 | NS      | $16942.75     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| First Trust Exchange-Traded Fund III             | FT-PFD SEC & INC          | CUSIP: 33739E108<br>LEI: 5493003Z20QMESC6XS29 | Long             | EC               | RF                | US        |    392700 | NS      | $6990060.00   | 0.51%             |  |  |  | No            | 1                  | On Loan: —       |
| Credit Suisse Opportunity Funds                  | CS-FL RT INC-I            | CUSIP: 22540S836<br>LEI: 5493002UZ4JX82OVKQ12 | Long             | EC               | RF                | US        |      7905 | NS      | $49250.52     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES CONVT BD          | CUSIP: 46435G102<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    165700 | NS      | $14929570.00  | 1.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity Summer Street Trust                     | FID-CAP & INC             | CUSIP: 316062108<br>LEI: P1TJ3M056NR1SYX5LY49 | Long             | EC               | RF                | US        |       693 | NS      | $7247.49      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Series Trust                                | SPDR BLOOMBERG I          | CUSIP: 78468R200<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    835100 | NS      | $25746133.00  | 1.89%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES 3-7 YEAR          | CUSIP: 464288661<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    293400 | NS      | $34941006.00  | 2.56%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO ETF Trust                                  | PIMCO-SEN LN ACT          | CUSIP: 72201R627<br>LEI: 5493004M9TBGFQUJ6D27 | Long             | EC               | RF                | US        |    208900 | NS      | $10652437.70  | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Global X Funds                                   | GLOBAL X US PREFERRED ETF | CUSIP: 37954Y657<br>LEI: 5493003RA4QUTSYF1N15 | Long             | EC               | RF                | US        |    560100 | NS      | $10546683.00  | 0.77%             |  |  |  | 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        |      4038 | NS      | $41548.92     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Leader Funds Trust                               | LDR-HI QL IN-INS          | CUSIP: 52169B509<br>LEI: 5493004CXG3W4ZKLTI89 | Long             | EC               | RF                | US        |    372060 | NS      | $4122424.42   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Principal Funds Inc                              | PRIN-PR & CA-INS          | CUSIP: 74253Q416<br>LEI: 549300HZGBXSW6DSXF23 | Long             | EC               | RF                | US        |   4643361 | NS      | $43090388.83  | 3.16%             |  |  |  | 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        |     13698 | NS      | $118484.30    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Thornburg Investment Trust                       | THRNB-STR IN-I            | CUSIP: 885215194<br>LEI: 5493001XM52H8S4WYY82 | Long             | EC               | RF                | US        |      1252 | NS      | $14400.92     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| American Century Investment Trust                | AC-HI INC-Y               | CUSIP: 024932154<br>LEI: 549300RGSU9J1L1HFF90 | Long             | EC               | RF                | US        |      5774 | NS      | $50350.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Funds V                                | BLK-FLOAT RA-INS          | CUSIP: 09260B747<br>LEI: 54930077DSFQPJDWM487 | Long             | EC               | RF                | US        |      2697 | NS      | $25887.27     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Thompson Im Funds Inc                            | THMPSN-BND                | CUSIP: 884891201<br>LEI: N/A                  | Long             | EC               | RF                | US        |   1324657 | NS      | $13975127.16  | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Metropolitan West Funds                          | MW-UNCONS BD-I            | CUSIP: 592905749<br>LEI: 549300KGDNJW6FXNDC82 | Long             | EC               | RF                | US        |   2633757 | NS      | $27312059.53  | 2.00%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES PREFERRE          | CUSIP: 464288687<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    699400 | NS      | $21457592.00  | 1.57%             |  |  |  | No            | 1                  | On Loan: —       |
| VanEck ETF Trust                                 | VANECK IG FLOATI          | CUSIP: 92189F486<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |    586700 | NS      | $14960850.00  | 1.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Multi State Municipal Series Trust     | BLRK-NY MU O-INS          | CUSIP: 09253A763<br>LEI: 549300FRPGSGLXTBXJ40 | Long             | EC               | RF                | US        |      2953 | NS      | $30124.01     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Neuberger Berman Income Funds                    | NEUBERG-FL RT-IS          | CUSIP: 64128K694<br>LEI: 54930087F7MMJ21RIJ90 | Long             | EC               | RF                | US        |       857 | NS      | $8027.57      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| VanEck ETF Trust                                 | VANECK CLO ETF            | CUSIP: 92189H748<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |    265100 | NS      | $14037045.00  | 1.03%             |  |  |  | No            | 1                  | On Loan: —       |
| Nuveen Municipal                                 | NVN-H/Y MUN-I             | CUSIP: 67065Q772<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |     19840 | NS      | $278156.86    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds                                      | PIMCO-EM L C-INS          | CUSIP: 72201F516<br>LEI: N/A                  | Long             | EC               | RF                | US        |     10112 | NS      | $62086.24     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Municipal Series Trust                 | BLRK-STR MUN-I            | CUSIP: 09253E609<br>LEI: N13FNQG6SVW6WDIWRJ75 | Long             | EC               | RF                | US        |      8191 | NS      | $83297.91     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Series Trust                                | SPDR BL INT TREA          | CUSIP: 78464A516<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    461700 | NS      | $10845333.00  | 0.79%             |  |  |  | No            | 1                  | On Loan: —       |
| 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      |
| PIMCO ETF Trust                                  | PIMCO MULTI SECT          | CUSIP: 72201R585<br>LEI: 5493004M9TBGFQUJ6D27 | Long             | EC               | RF                | US        |   1070200 | NS      | $28403108.00  | 2.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Advisors Series Trust                            | MDL-MBS T/R-INS           | CUSIP: 00770X758<br>LEI: 2549003Z0J6URS6I4Y63 | Long             | EC               | RF                | US        |      1276 | NS      | $11016.02     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Franklin Templeton ETF Trust                     | FRNKLN SNR LOAN           | CUSIP: 35473P595<br>LEI: 549300UHXVPT5S43XV04 | Long             | EC               | RF                | US        |    584300 | NS      | $14157589.00  | 1.04%             |  |  |  | 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        |     14427 | NS      | $131140.73    | 0.01%             |  |  |  | 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      | $7.30         | 0.00%             |  |  |  | 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        |   7685039 | NS      | $76389285.33  | 5.60%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds                                      | PIMCO-DYN BD-INS          | CUSIP: 72201M487<br>LEI: N/A                  | Long             | EC               | RF                | US        |   3890666 | NS      | $39529165.63  | 2.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Municipal                                 | NVN-ALL AMER-I            | CUSIP: 67065Q855<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |      9843 | NS      | $96950.74     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Victory Portfolios II                            | VCTRY-M/N IN-I            | CUSIP: 92647P654<br>LEI: 5493002SUQLUY3T5P040 | Long             | EC               | RF                | US        |     61500 | NS      | $538127.18    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Invesco Exchange Traded Fund Trust II            | INVESCO SENIOR L          | CUSIP: 46138G508<br>LEI: O540V2L4S174Y60FMD36 | Long             | EC               | RF                | US        |   6190400 | NS      | $129503168.00 | 9.49%             |  |  |  | No            | 1                  | On Loan: —       |
| VanEck ETF Trust                                 | V/E JPM EM L C B          | CUSIP: 92189H300<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |   2173500 | NS      | $55098225.00  | 4.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Aristotle Funds Series Trust                     | ARIS-F/R INC-I            | CUSIP: 04045F592<br>LEI: 549300FDPZVU0VTJQB52 | Long             | EC               | RF                | US        |      1912 | NS      | $17996.11     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds                                      | PIMCO-INCOME-INS          | CUSIP: 72201F490<br>LEI: N/A                  | Long             | EC               | RF                | US        |  18456635 | NS      | $198777962.33 | 14.57%            |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Funds V                                | BLKR-STR INC-INS          | CUSIP: 09260B382<br>LEI: 54930077DSFQPJDWM487 | Long             | EC               | RF                | US        |      7633 | NS      | $73889.82     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Allspring Funds Trust                            | ALLSP-MUN BD-INS          | CUSIP: 949921670<br>LEI: 549300XROIY0CTN7RZ24 | Long             | EC               | RF                | US        |      9934 | NS      | $94277.14     | 0.01%             |  |  |  | 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