# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0000910472-25-004886
**Filing Date:** 2025-11
**Character Count:** 33561
**Document Hash:** dfa530230222a126a4e601449efbf993
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-004886.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000910472-25-004886

**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:** 251533302

**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 Momentum Fund (Series ID: S000053876)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000169555 | DF Tactical Momentum Fund Class A Shares | MOJAX           |
| C000169556 | DF Tactical Momentum Fund Class C Shares | MOJCX           |
| C000169557 | DF Tactical Momentum Fund Class I Shares | MOJOX           |

## 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 Momentum Fund

- **b. EDGAR series identifier (if any):** S000053876

- **c. LEI of Series:** 549300AX848D7L72RN86

**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:** $42209619.75

**Total Liabilities:** $39960.62

**Net Assets:** $42169659.13

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000169555 | 0.70%                | -0.44%               | 4.14%                |
| Class ID C000169556 | 0.61%                | -0.47%               | 4.08%                |
| Class ID C000169557 | 0.50%                | -0.43%               | 4.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $125500.28               | $418668.16                                 |
| Month 2  | $76469.72                | $-338266.87                                |
| Month 3  | $6407238.06              | $-4666633.29                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Broadcom Inc                       | BROADCOM INC                         | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      2192 | NS      | $723162.72    | 1.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Advanced Micro Devices Inc.        | ADV MICRO DEVICE                     | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      5078 | NS      | $821569.62    | 1.95%             |  |  |  | No            | 1                  | On Loan: No      |
| United Rentals, Inc.               | UNITED RENTALS                       | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |       857 | NS      | $818143.62    | 1.94%             |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc.                      | ALPHABET INC-A                       | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      3387 | NS      | $823379.70    | 1.95%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs Group, Inc.          | GOLDMAN SACHS GP                     | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      1053 | NS      | $838556.55    | 1.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Pinterest Inc                      | PINTEREST INC -A                     | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22956 | NS      | $738494.52    | 1.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Royal Caribbean Group              | ROYAL CARIBBEAN                      | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |      2372 | NS      | $767531.76    | 1.82%             |  |  |  | No            | 1                  | On Loan: —       |
| Newmont Corporation                | NEWMONT CORP                         | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     10329 | NS      | $870837.99    | 2.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Teradyne Inc.                      | TERADYNE INC                         | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      6876 | NS      | $946412.64    | 2.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Humana Inc.                        | HUMANA INC                           | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      2961 | NS      | $770363.37    | 1.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Emcor Group Inc                    | EMCOR GROUP INC                      | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      1277 | NS      | $829462.58    | 1.97%             |  |  |  | No            | 1                  | On Loan: No      |
| Sofi Technologies Inc              | SOFI TECHNOLOGIE                     | CUSIP: 83406F102<br>LEI: 549300SW81JCMVZDDY09 | Long             | EC               | CORP              | US        |     31745 | NS      | $838702.90    | 1.99%             |  |  |  | No            | 1                  | On Loan: —       |
| Johnson & Johnson                  | JOHNSON&JOHNSON                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      4609 | NS      | $854600.78    | 2.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Inc.                     | CITIGROUP INC                        | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      8337 | NS      | $846205.50    | 2.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Roblox Corporation                 | ROBLOX CORP - A                      | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6099 | NS      | $844833.48    | 2.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Chevron Corp.                      | CHEVRON CORP                         | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5134 | NS      | $797258.86    | 1.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Amphenol Corporation               | AMPHENOL CORP-A                      | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      6803 | NS      | $841871.25    | 2.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Apple Inc.                         | APPLE INC                            | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      3572 | NS      | $909538.36    | 2.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Incyte Corporation.                | INCYTE CORP                          | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |      9393 | NS      | $796620.33    | 1.89%             |  |  |  | No            | 1                  | On Loan: No      |
| IQVIA Holdings Inc.                | IQVIA HOLDINGS I                     | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |      4406 | NS      | $836875.64    | 1.98%             |  |  |  | No            | 1                  | On Loan: No      |
| NVIDIA Corp.                       | NVIDIA CORP                          | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      4569 | NS      | $852484.02    | 2.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Hewlett Packard Enterprise Co.     | HEWLETT PACKA                        | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |     33148 | NS      | $814114.88    | 1.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Cummins Inc.                       | CUMMINS INC                          | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      1999 | NS      | $844317.63    | 2.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Arista Networks Inc                | ARISTA NETWORKS                      | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      5375 | NS      | $783191.25    | 1.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Western Digital Corp.              | WESTERN DIGITAL                      | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |      8526 | NS      | $1023631.56   | 2.43%             |  |  |  | No            | 1                  | On Loan: —       |
| Alnylam Pharmaceuticals Inc.       | ALNYLAM PHARMACE                     | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      1726 | NS      | $787056.00    | 1.87%             |  |  |  | No            | 1                  | On Loan: No      |
| The Bank of New York Mellon Corp.  | BANK NY MELLON                       | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |      7790 | NS      | $848798.40    | 2.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Reddit Inc                         | REDDIT INC-A                         | CUSIP: 75734B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3128 | NS      | $719408.72    | 1.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Lam Research Corporation           | LAM RESEARCH                         | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      7546 | NS      | $1010409.40   | 2.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Altria Group, Inc.                 | ALTRIA GROUP INC                     | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     12232 | NS      | $808045.92    | 1.92%             |  |  |  | No            | 1                  | On Loan: No      |
| 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      |
| Fastenal Co.                       | FASTENAL CO                          | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     16888 | NS      | $828187.52    | 1.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Carnival Corporation               | CARNIVAL CORP                        | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |     25833 | NS      | $746832.03    | 1.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity Colchester Street Trust   | FID-MM GOVT-I                        | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |    672224 | PA      | $672223.85    | 1.59%             |  |  |  | No            | 1                  | On Loan: No      |
| TE Connectivity PLC                | TE CONNECTIVITY                      | CUSIP: G87052109<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |      3851 | NS      | $845410.03    | 2.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Synopsys Inc                       | SYNOPSYS INC                         | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      2089 | NS      | $1030691.71   | 2.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Las Vegas Sands Corp               | LAS VEGAS SANDS                      | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     14865 | NS      | $799588.35    | 1.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Baker Hughes Company               | BAKER HUGHES CO                      | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17266 | NS      | $841199.52    | 1.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Electronic Arts Inc.               | ELECTRONIC ARTS                      | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      4758 | NS      | $959688.60    | 2.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Tractor Supply Co                  | TRACTOR SUPPLY                       | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |     13860 | NS      | $788218.20    | 1.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Archer-Daniels-Midland Co.         | ARCHER-DANIELS                       | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     13192 | NS      | $788090.08    | 1.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Vistra Corp                        | VISTRA CORP                          | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      3872 | NS      | $758602.24    | 1.80%             |  |  |  | No            | 1                  | On Loan: No      |
| CBRE Group Inc.                    | CBRE GROUP INC-A                     | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      4982 | NS      | $784963.92    | 1.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Affirm Holdings Inc                | AFFIRM HOLDINGS                      | CUSIP: 00827B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9546 | NS      | $697621.68    | 1.65%             |  |  |  | No            | 1                  | On Loan: —       |
| Credo Technology Group Holding Ltd | CREDO TECHNOLOGY                     | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      4941 | NS      | $719459.01    | 1.71%             |  |  |  | No            | 1                  | On Loan: —       |
| Corning Incorporated               | CORNING INC                          | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |     10812 | NS      | $886908.36    | 2.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Expedia Group Inc                  | EXPEDIA GROUP IN                     | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |      3759 | NS      | $803486.25    | 1.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Motorola Solutions Inc             | MOTOROLA SOLUTIO                     | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      1682 | NS      | $769161.78    | 1.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Seagate Technology Holdings PLC    | SEAGATE TECHNOLO                     | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | IE        |      4197 | NS      | $990743.82    | 2.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Cadence Design Systems, Inc.       | CADENCE DESIGN                       | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      2393 | NS      | $840565.18    | 1.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Citizens Financial Group Inc       | CITIZENS FINANCI                     | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     15637 | NS      | $831262.92    | 1.97%             |  |  |  | No            | 1                  | On Loan: No      |
| Synchrony Financial                | SYNCHRONY FINANC                     | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     10839 | NS      | $770110.95    | 1.83%             |  |  |  | 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