# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0000910472-25-004887
**Filing Date:** 2025-11
**Character Count:** 18878
**Document Hash:** f48c5e4505878bdc2c2b9dc17c603583
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-004887.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000910472-25-004887

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20260630

**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:** 251533303

**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

### DF Tactical Income Fund (Series ID: S000029686)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000091243 | DF Tactical Income Fund Class A | PWRAX           |
| C000091244 | DF Tactical Income Fund Class C | PWRCX           |
| C000091245 | DF Tactical Income Fund Class I | PWRIX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **DONOGHUE FORLINES TACTICAL ALLOCATION FUND** | **DONOGHUE FORLINES TACTICAL ALLOCATION FUND** | **DONOGHUE FORLINES TACTICAL ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 56.4%** |  |
|  | **EQUITY - 8.2%** |  |
| 17770 | iShares Global 100 ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $2132578 |
|  | **FIXED INCOME - 48.2%** |  |
| 84281 | Invesco Senior Loan ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1764001 |
| 68452 | JPMorgan Ultra-Short Income ETF | &nbsp;&nbsp;&nbsp; 3472570 |
| 81928 | SPDR Blackstone Senior Loan ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3406566 |
| 37878 | SPDR Bloomberg 1-3 Month T-Bill ETF | &nbsp;&nbsp;&nbsp; 3475307 |
| 17858 | SPDR Portfolio High Yield Bond ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 427521 |
|  |  | &nbsp;&nbsp; 12545965 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $14,119,652)** | &nbsp;&nbsp; 14678543 |
|  | **OPEN END FUNDS — 42.6%** |  |
|  | **EQUITY - 42.6%** |  |
| 631146 | Donoghue Forlines Dividend Fund, Class I<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 6626913 |
| 269767 | Donoghue Forlines Momentum Fund, Class I<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 4507807 |
|  | **TOTAL OPEN END FUNDS (Cost $9,432,902)** | &nbsp;&nbsp; 11134720 |
|  | **SHORT-TERM INVESTMENTS — 19.8%** |  |
|  | **COLLATERAL FOR SECURITIES LOANED - 18.8%** |  |
| 4891744 | Mount Vernon Liquid Assets Portfolio, 4.22% (Cost $4,891,744)<sup>(c),(d)</sup> | &nbsp;&nbsp;&nbsp; 4891744 |
|  | **MONEY MARKET FUNDS - 1.0%** |  |
| 268185 | Fidelity Investments Money Market Government Portfolio, Class I, 4.04% (Cost $268,185)<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 268185 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $5,159,929)** | 5159929 |
|  | **TOTAL INVESTMENTS - 118.8% (Cost $28,712,483)** | &nbsp;&nbsp;&nbsp; $30973192 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (18.8)%** | &nbsp;&nbsp; (4933448) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $26039744 |

---

ETF - Exchange-Traded Fund <br> SPDR - Standard & Poor's Depositary Receipt <br>

<sup>(a)</sup> All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2025 was $4,791,733.

<sup>(b)</sup> Affiliated investment.

<sup>(c)</sup> Rate disclosed is the seven day effective yield as of September 30, 2025.

<sup>(d)</sup> Security was purchased with cash received as collateral for securities on loan at September 30, 2025. Total collateral had a value of $4,891,744 at September 30, 2025.

---

| | | |
|:---|:---|:---|
| **DONOGHUE FORLINES TACTICAL INCOME FUND** | **DONOGHUE FORLINES TACTICAL INCOME FUND** | **DONOGHUE FORLINES TACTICAL INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 97.0%** |  |
|  | **FIXED INCOME - 97.0%** |  |
| 707880 | Invesco Senior Loan ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $14815928 |
| 585490 | JPMorgan Ultra-Short Income ETF | &nbsp;&nbsp;&nbsp; 29701908 |
| 357439 | SPDR Blackstone Senior Loan ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 14862314 |
| 323922 | SPDR Bloomberg 1-3 Month T-Bill ETF | &nbsp;&nbsp;&nbsp; 29719843 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $88,626,441)** | &nbsp;&nbsp; 89099993 |
|  | **SHORT-TERM INVESTMENTS — 29.5%** |  |
|  | **COLLATERAL FOR SECURITIES LOANED - 26.4%** |  |
| 24287979 | Mount Vernon Liquid Assets Portfolio, 4.22% (Cost $24,287,979)<sup>(b),(c)</sup> | &nbsp;&nbsp;&nbsp; 24287979 |
|  | **MONEY MARKET FUNDS - 3.1%** |  |
| 2847191 | Fidelity Investments Money Market Government Portfolio, Class I, 4.04% (Cost $2,847,191)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 2847191 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $27,135,170)** | 27135170 |
|  | **TOTAL INVESTMENTS - 126.5% (Cost $115,761,611)** | &nbsp;&nbsp;&nbsp; $116235163 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (26.5)%** | &nbsp;&nbsp; (24347365) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $91887798 |

---

ETF - Exchange-Traded Fund <br> SPDR - Standard & Poor's Depositary Receipt <br>

<sup>(a)</sup> All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2025 was $23,688,920.

<sup>(b)</sup> Rate disclosed is the seven day effective yield as of September 30, 2025.

<sup>(c)</sup> Security was purchased with cash received as collateral for securities on loan at September 30, 2025. Total collateral had a value of $24,287,979 at September 30, 2025.

---

| | | |
|:---|:---|:---|
| **DONOGHUE FORLINES DIVIDEND FUND** | **DONOGHUE FORLINES DIVIDEND FUND** | **DONOGHUE FORLINES DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.2%** |  |
|  | **AEROSPACE & DEFENSE - 4.2%** |  |
| 4767 | L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp; $1455889 |
| 2833 | Lockheed Martin Corporation, Class B | &nbsp;&nbsp;&nbsp; 1414262 |
|  |  | &nbsp;&nbsp; 2870151 |
|  | **ASSET MANAGEMENT - 1.9%** |  |
| 12323 | T Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp; 1264833 |
|  | **AUTOMOTIVE - 2.0%** |  |
| 115070 | Ford Motor Company | &nbsp;&nbsp;&nbsp; 1376237 |
|  | **BANKING - 15.4%** |  |
| 13524 | Citigroup, Inc. | &nbsp;&nbsp;&nbsp; 1372687 |
| 25364 | Citizens Financial Group, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1348350 |
| 28875 | Fifth Third Bancorp<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1286381 |
| 74411 | Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp; 1285078 |
| 68336 | KeyCorporation | &nbsp;&nbsp;&nbsp; 1277200 |
| 6631 | M&T Bank Corporation | &nbsp;&nbsp;&nbsp; 1310418 |
| 6509 | PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 1307853 |
| 26709 | US Bancorp | &nbsp;&nbsp;&nbsp; 1290846 |
|  |  | &nbsp;&nbsp; 10478813 |
|  | **BIOTECH & PHARMA - 11.9%** |  |
| 6209 | AbbVie, Inc. | &nbsp;&nbsp;&nbsp; 1437633 |
| 4718 | Amgen, Inc. | &nbsp;&nbsp;&nbsp; 1331420 |
| 27871 | Bristol-Myers Squibb Company | &nbsp;&nbsp;&nbsp; 1256982 |
| 7475 | Johnson & Johnson | &nbsp;&nbsp;&nbsp; 1386015 |
| 15639 | Merck & Company, Inc. | &nbsp;&nbsp;&nbsp; 1312581 |
| 53484 | Pfizer, Inc. | &nbsp;&nbsp;&nbsp; 1362772 |
|  |  | &nbsp;&nbsp; 8087403 |
|  | **CABLE & SATELLITE - 1.8%** |  |
| 39250 | Comcast Corporation, Class A | &nbsp;&nbsp;&nbsp; 1233235 |
|  | **CHEMICALS - 2.0%** |  |
| 15122 | CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp; 1356444 |

---

---

| | | |
|:---|:---|:---|
| **DONOGHUE FORLINES DIVIDEND FUND** | **DONOGHUE FORLINES DIVIDEND FUND** | **DONOGHUE FORLINES DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.2% (Continued)** |  |
|  | **CONTAINERS & PACKAGING - 2.0%** |  |
| 6168 | Packaging Corporation of America | &nbsp;&nbsp;&nbsp; $1344192 |
|  | **ELECTRIC UTILITIES - 5.7%** |  |
| 4107 | Constellation Energy Corporation | &nbsp;&nbsp;&nbsp; 1351490 |
| 8152 | NRG Energy, Inc. | &nbsp;&nbsp;&nbsp; 1320216 |
| 6281 | Vistra Corporation | &nbsp;&nbsp;&nbsp; 1230574 |
|  |  | &nbsp;&nbsp; 3902280 |
|  | **FOOD - 1.8%** |  |
| 67877 | Conagra Brands, Inc. | &nbsp;&nbsp;&nbsp; 1242828 |
|  | **HEALTH CARE FACILITIES & SERVICES - 2.0%** |  |
| 17765 | CVS Health Corporation | &nbsp;&nbsp;&nbsp; 1339303 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 8.1%** |  |
| 5056 | CME Group, Inc. | &nbsp;&nbsp;&nbsp; 1366081 |
| 8526 | Morgan Stanley | &nbsp;&nbsp;&nbsp; 1355293 |
| 10342 | Northern Trust Corporation | &nbsp;&nbsp;&nbsp; 1392032 |
| 11863 | State Street Corporation | &nbsp;&nbsp;&nbsp; 1376227 |
|  |  | &nbsp;&nbsp; 5489633 |
|  | **INSURANCE - 4.0%** |  |
| 16586 | MetLife, Inc. | &nbsp;&nbsp;&nbsp; 1366189 |
| 16412 | Principal Financial Group, Inc. | &nbsp;&nbsp;&nbsp; 1360719 |
|  |  | &nbsp;&nbsp; 2726908 |
|  | **MACHINERY - 2.1%** |  |
| 4054 | Snap-on, Inc. | &nbsp;&nbsp;&nbsp; 1404833 |
|  | **MEDICAL EQUIPMENT & DEVICES - 2.0%** |  |
| 14234 | Medtronic PLC | &nbsp;&nbsp;&nbsp; 1355646 |
|  | **OIL & GAS PRODUCERS - 9.7%** |  |
| 8328 | Chevron Corporation | &nbsp;&nbsp;&nbsp; 1293255 |
| 13932 | ConocoPhillips | &nbsp;&nbsp;&nbsp; 1317828 |
| 11681 | Exxon Mobil Corporation | &nbsp;&nbsp;&nbsp; 1317033 |
| 17916 | ONEOK, Inc. | &nbsp;&nbsp;&nbsp; 1307331 |

---

---

| | | |
|:---|:---|:---|
| **DONOGHUE FORLINES DIVIDEND FUND** | **DONOGHUE FORLINES DIVIDEND FUND** | **DONOGHUE FORLINES DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.2% (Continued)** |  |
|  | **OIL & GAS PRODUCERS - 9.7% (Continued)** |  |
| 9999 | Phillips 66 | &nbsp;&nbsp;&nbsp; $1360063 |
|  |  | &nbsp;&nbsp; 6595510 |
|  | **REAL ESTATE INVESTMENT TRUSTS - 1.9%** |  |
| 39653 | VICI Properties, Inc. | &nbsp;&nbsp;&nbsp; 1293084 |
|  | **RETAIL - DISCRETIONARY - 1.9%** |  |
| 17153 | Best Buy Company, Inc. | &nbsp;&nbsp;&nbsp; 1297110 |
|  | **RETAIL REIT - 2.0%** |  |
| 7332 | Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp; 1375997 |
|  | **SPECIALTY FINANCE - 2.0%** |  |
| 22097 | Fidelity National Financial, Inc. | &nbsp;&nbsp;&nbsp; 1336648 |
|  | **TECHNOLOGY HARDWARE - 4.3%** |  |
| 46320 | HP, Inc. | &nbsp;&nbsp;&nbsp; 1261294 |
| 6807 | Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp; 1606860 |
|  |  | &nbsp;&nbsp; 2868154 |
|  | **TECHNOLOGY SERVICES - 1.8%** |  |
| 9875 | Paychex, Inc. | &nbsp;&nbsp;&nbsp; 1251755 |
|  | **TELECOMMUNICATIONS - 3.8%** |  |
| 45004 | AT&T, Inc. | &nbsp;&nbsp;&nbsp; 1270913 |
| 30216 | Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp; 1327993 |
|  |  | &nbsp;&nbsp; 2598906 |
|  | **TOBACCO & CANNABIS - 2.0%** |  |
| 19842 | Altria Group, Inc. | &nbsp;&nbsp;&nbsp; 1310762 |
|  | **TRANSPORTATION EQUIPMENT - 1.9%** |  |
| 13320 | PACCAR, Inc. | &nbsp;&nbsp;&nbsp; 1309622 |
|  | **TOTAL COMMON STOCKS (Cost $60,637,715)** | &nbsp;&nbsp; 66710287 |

---

---

| | | |
|:---|:---|:---|
| **DONOGHUE FORLINES DIVIDEND FUND** | **DONOGHUE FORLINES DIVIDEND FUND** | **DONOGHUE FORLINES DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENTS — 4.8%** |  |
|  | **MONEY MARKET FUNDS - 1.6%** |  |
| 860282 | Dreyfus Treasury Securities Cash Management, Institutional Class, 3.98%<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; $860282 |
| 233041 | Fidelity Investments Money Market Government Portfolio, Class I, 4.04%<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 233041 |
|  | **TOTAL MONEY MARKET FUNDS (Cost $1,093,323)** | &nbsp;&nbsp; 1093323 |
|  | **COLLATERAL FOR SECURITIES LOANED - 3.2%** |  |
| 2170199 | Mount Vernon Liquid Assets Portfolio, 4.22% (Cost $2,170,199)<sup>(b),(c)</sup> | &nbsp;&nbsp;&nbsp; 2170199 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $3,263,522)** | 3263522 |
|  | **TOTAL INVESTMENTS - 103.0% (Cost $63,901,237)** | &nbsp;&nbsp;&nbsp; $69973809 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (3.0)%** | &nbsp;&nbsp; (2056253) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $67917556 |

---

PLC - Public Limited Company <br> REIT - Real Estate Investment Trust <br>

<sup>(a)</sup> All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2025 was $2,086,323.

<sup>(b)</sup> Rate disclosed is the seven day effective yield as of September 30, 2025.

<sup>(c)</sup> Security was purchased with cash received as collateral for securities on loan at September 30, 2025. Total collateral had a value of $2,170,199 at September 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:** Donoghue Forlines Tactical Income Fund

- **b. EDGAR series identifier (if any):** S000029686

- **c. LEI of Series:** 549300XJ6RY59X0ZZJ25

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

- **a. Date of fiscal year-end:** 2026-06-30

- **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:** $92011034.37

**Total Liabilities:** $123236.75

**Net Assets:** $91887797.62

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000091244 | 0.23%                | 0.34%                | 0.25%                |
| Class ID C000091243 | 0.22%                | 0.45%                | 0.31%                |
| Class ID C000091245 | 0.22%                | 0.45%                | 0.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8223.74                 | $-60774.52                                 |
| Month 2  | $331422.12               | $-219943.53                                |
| Month 3  | $0.00                    | $12051.68                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| N/A                                   | MOUNT VERNON LIQUID ASSETS PORTFOLIO | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| J P Morgan Exchange Traded Fund Trust | JPM ULTRA-SHT IN                     | CUSIP: 46641Q837<br>LEI: 5493001E1K1DVWDV2464 | Long             | EC               | RF                | US        |    585490 | NS      | $29701907.70  | 32.32%            |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity Colchester Street Trust      | FID-MM GOVT-I                        | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |   2847191 | PA      | $2847190.99   | 3.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Ssga Active Trust                     | SPDR BLACKSTONE                      | CUSIP: 78467V608<br>LEI: 549300MAXSRPQ75ICU67 | Long             | EC               | RF                | US        |    357439 | NS      | $14862313.62  | 16.17%            |  |  |  | No            | 1                  | On Loan: —       |
| Invesco Exchange Traded Fund Trust II | INVESCO SENIOR L                     | CUSIP: 46138G508<br>LEI: O540V2L4S174Y60FMD36 | Long             | EC               | RF                | US        |    707880 | NS      | $14815928.40  | 16.12%            |  |  |  | No            | 1                  | On Loan: —       |
| SPDR Series Trust                     | SPDR BLOOMBERG 1                     | CUSIP: 78468R663<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    323922 | NS      | $29719843.50  | 32.34%            |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-10-28

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

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Treasurer