# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0000910472-25-000466
**Filing Date:** 2025-8
**Character Count:** 67902
**Document Hash:** c1afdc683195f468d5812e4b0eb5f31f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-000466.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0000910472-25-000466

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20251231

**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:** 251274820

**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

### TransWestern Institutional Short Duration Government Bond Fund (Series ID: S000030560)

| Class ID   | Class Name                                                     | Ticker Symbol   |
|:---|:---|:---|
| C000094762 | TransWestern Institutional Short Duration Government Bond Fund | TWSGX           |

## 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:** Transwestern Institutional Short Duration Govt Bd Fd

- **b. EDGAR series identifier (if any):** S000030560

- **c. LEI of Series:** 549300F9F3VX5D6MRP98

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

- **a. Date of fiscal year-end:** 2025-12-31

- **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:** $77422265.34

**Total Liabilities:** $2656010.67

**Net Assets:** $74766254.67

**Cash Not Reported:** $479188.23

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 153.55590600 | **1-Year:** 2322.56398900 | **5-Year:** 6586.97710400 | **10-Year:** 4348.15493000 | **30-Year:** 14.74972300

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000094762 | 0.63%                | -0.36%               | 0.97%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $487.83                  | $224353.04                                 |
| Month 2  | $37133.80                | $-474988.39                                |
| Month 3  | $862.71                  | $443078.13                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Government National Mortgage Association               | G2 896363        | CUSIP: 3620E0W69<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    162282 | PA      | $162874.12    | 0.22%             | 2062-07-20      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHMS KF80 AS     | CUSIP: 3137FUNV2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    387740 | PA      | $387185.15    | 0.52%             | 2030-06-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 964760        | CUSIP: 31414FJD4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     66615 | PA      | $67422.71     | 0.09%             | 2038-08-01      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN BL0481        | CUSIP: 3140HRRB1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2040000 | PA      | $2025727.83   | 2.71%             | 2026-01-01      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AB5688        | CUSIP: 31417CKA2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     54747 | PA      | $51048.18     | 0.07%             | 2037-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 732087        | CUSIP: 31402LJ86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13251 | PA      | $13634.84     | 0.02%             | 2033-08-01      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 5 08/31/25     | CUSIP: 91282CHV6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2700000 | PA      | $2702064.18   | 3.61%             | 2025-08-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 995552        | CUSIP: 31416B5M6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10636 | PA      | $10905.33     | 0.01%             | 2035-05-01      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 2581 FD      | CUSIP: 31393LX99<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     23087 | PA      | $22442.93     | 0.03%             | 2032-12-15      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 3036 NE      | CUSIP: 31396AXW9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    180113 | PA      | $182946.45    | 0.24%             | 2035-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 891616        | CUSIP: 36208AZR5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10831 | PA      | $10983.75     | 0.01%             | 2058-06-20      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 725052        | CUSIP: 31402CQD7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17508 | PA      | $17887.14     | 0.02%             | 2033-07-01      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2013-63 YF   | CUSIP: 3136AEPD3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     81312 | PA      | $73192.15     | 0.10%             | 2043-06-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2018-H16 FA  | CUSIP: 38380LKR3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1809251 | PA      | $1804880.73   | 2.41%             | 2068-09-20      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 3 7/8 06/30/30 | CUSIP: 91282CNK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    485000 | PA      | $486799.81    | 0.65%             | 2030-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2020-H04 FP  | CUSIP: 38380L2S1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1887461 | PA      | $1886276.76   | 2.52%             | 2069-06-20      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 920847        | CUSIP: 31412CBQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    106554 | PA      | $110853.60    | 0.15%             | 2036-08-01      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 1B2025        | CUSIP: 3128JMD79<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     42715 | PA      | $43971.21     | 0.06%             | 2034-06-01      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 803338        | CUSIP: 31405YPX3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17713 | PA      | $17932.92     | 0.02%             | 2044-09-01      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 2412 OF      | CUSIP: 31339DVL9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |      7831 | PA      | $7669.18      | 0.01%             | 2031-12-15      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 972132        | CUSIP: 31336CLM3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     39695 | PA      | $40715.70     | 0.05%             | 2033-11-01      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHMS K758 A2     | CUSIP: 3137HHJF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1800000 | PA      | $1835764.56   | 2.46%             | 2031-10-25      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHMS KF60 A      | CUSIP: 3137FL7L2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    500361 | PA      | $500673.65    | 0.67%             | 2026-02-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 1Q0160        | CUSIP: 3128S4E94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     50672 | PA      | $51808.49     | 0.07%             | 2035-09-01      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 3620 AT      | CUSIP: 31398WB86<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     71869 | PA      | $72519.91     | 0.10%             | 2036-12-15      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 01/31/29     | CUSIP: 91282CJW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2190000 | PA      | $2209932.42   | 2.96%             | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 1/8 10/31/26 | CUSIP: 91282CLS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    810000 | PA      | $812341.40    | 1.09%             | 2026-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 1/4 12/31/26 | CUSIP: 91282CME8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    555000 | PA      | $558273.63    | 0.75%             | 2026-12-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHMS K531 AS     | CUSIP: 3137HHUP4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1079624 | PA      | $1081019.76   | 1.45%             | 2029-09-25      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN MA1404        | CUSIP: 31418AR26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    340493 | PA      | $317441.26    | 0.42%             | 2043-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2010-60 HB   | CUSIP: 31398RGA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    237960 | PA      | $241169.32    | 0.32%             | 2040-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 900197        | CUSIP: 31410XDA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    126306 | PA      | $131239.77    | 0.18%             | 2036-10-01      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 1Q1302        | CUSIP: 3128S5NT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     47483 | PA      | $48072.77     | 0.06%             | 2038-11-01      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 699985        | CUSIP: 31400WUJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     38635 | PA      | $39575.53     | 0.05%             | 2033-04-01      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 2978 JG      | CUSIP: 31395UKP5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    120470 | PA      | $124147.01    | 0.17%             | 2035-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 684842        | CUSIP: 31400DZF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4883 | PA      | $4878.07      | 0.01%             | 2030-01-01      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNA 2017-M3 A2   | CUSIP: 3136AVYL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1405740 | PA      | $1370970.10   | 1.83%             | 2026-12-25      | Floating      | 2.55%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2015-H09 HA  | CUSIP: 38375UWF3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |       569 | PA      | $516.36       | 0.00%             | 2065-03-20      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 848690        | CUSIP: 31300LUP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    211261 | PA      | $218543.12    | 0.29%             | 2037-03-01      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 897906        | CUSIP: 3620E0VW3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     70124 | PA      | $70487.04     | 0.09%             | 2062-06-20      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 AG8190        | CUSIP: 36182DC37<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       647 | PA      | $650.71       | 0.00%             | 2064-09-20      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2003-35 FG   | CUSIP: 31393BM85<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |      1163 | PA      | $1122.89      | 0.00%             | 2033-05-25      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2014-H12 HZ  | CUSIP: 38375UJX9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    118809 | PA      | $117941.32    | 0.16%             | 2064-06-20      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 3 7/8 03/31/27 | CUSIP: 91282CMV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $300492.19    | 0.40%             | 2027-03-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 751387        | CUSIP: 36230KRG8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1196 | PA      | $1192.70      | 0.00%             | 2061-01-20      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 848565        | CUSIP: 31300LQS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18254 | PA      | $18627.80     | 0.02%             | 2037-12-01      | Floating      | 7.10%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 848949        | CUSIP: 31300L5J0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    512508 | PA      | $525679.26    | 0.70%             | 2038-09-01      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 995269        | CUSIP: 31416BT24<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15063 | PA      | $15474.49     | 0.02%             | 2035-07-01      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AQ6238        | CUSIP: 3138MM4Y5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    481348 | PA      | $448759.43    | 0.60%             | 2042-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 1/8 06/15/26 | CUSIP: 91282CHH7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $1001290.97   | 1.34%             | 2026-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 3 7/8 08/15/34 | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3500000 | PA      | $3419199.21   | 4.57%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHMS KJ20 A2     | CUSIP: 3137FGZ99<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     26864 | PA      | $26743.22     | 0.04%             | 2025-12-25      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AL2559        | CUSIP: 3138EJZZ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5103 | PA      | $5262.77      | 0.01%             | 2041-07-01      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 886376        | CUSIP: 31410DXD7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16771 | PA      | $17250.29     | 0.02%             | 2036-08-01      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 3 5/8 03/31/28 | CUSIP: 91282CGT2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    870000 | PA      | $868504.69    | 1.16%             | 2028-03-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 2102 PE      | CUSIP: 3133THG84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     18277 | PA      | $18112.40     | 0.02%             | 2028-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AE0870        | CUSIP: 31419A6G7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     32975 | PA      | $33739.92     | 0.05%             | 2036-11-01      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 889822        | CUSIP: 31410KSK1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     85809 | PA      | $87665.03     | 0.12%             | 2035-07-01      | Floating      | 6.99%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 748848        | CUSIP: 31403G5H1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     16558 | PA      | $17036.95     | 0.02%             | 2037-06-01      | Floating      | 7.40%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 2448 FV      | CUSIP: 31392KYW0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     13812 | PA      | $13504.12     | 0.02%             | 2032-03-15      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2002-16 VF   | CUSIP: 31392CWW0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     11958 | PA      | $11409.94     | 0.02%             | 2032-04-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2000-45 FG   | CUSIP: 31358SZZ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     10972 | PA      | $10643.60     | 0.01%             | 2030-12-18      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AB7016        | CUSIP: 31417DYN7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    240934 | PA      | $231661.68    | 0.31%             | 2042-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 555375        | CUSIP: 31385W6L8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     82001 | PA      | $84735.88     | 0.11%             | 2033-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 759745        | CUSIP: 36230UZJ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2596 | PA      | $2596.13      | 0.00%             | 2062-05-20      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 3 7/8 05/31/27 | CUSIP: 91282CNE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    965000 | PA      | $967261.72    | 1.29%             | 2027-05-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 780722        | CUSIP: 31342AYT0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    103085 | PA      | $105425.24    | 0.14%             | 2033-08-01      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG U92432        | CUSIP: 3132HCSV6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     93602 | PA      | $89791.04     | 0.12%             | 2044-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN CB2846        | CUSIP: 3140QNEU2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2808803 | PA      | $2229775.48   | 2.98%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 1/8 01/31/27 | CUSIP: 91282CMH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    595000 | PA      | $597789.06    | 0.80%             | 2027-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHMS KF82 AL     | CUSIP: 3137FV2F8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    793612 | PA      | $793582.57    | 1.06%             | 2030-06-25      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 710065        | CUSIP: 36297EZ65<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     14583 | PA      | $14568.27     | 0.02%             | 2061-02-20      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN MA3536        | CUSIP: 31418C4W1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    191938 | PA      | $181496.80    | 0.24%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 5/8 11/15/26 | CUSIP: 91282CJK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    815000 | PA      | $822990.82    | 1.10%             | 2026-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG Q20545        | CUSIP: 3132JMTA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    257888 | PA      | $242356.75    | 0.32%             | 2043-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AL1270        | CUSIP: 3138EHMU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    207245 | PA      | $212683.47    | 0.28%             | 2034-10-01      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 AG8275        | CUSIP: 36182DFQ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1206 | PA      | $1216.85      | 0.00%             | 2065-03-20      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2005-29 WQ   | CUSIP: 31394DJE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     18566 | PA      | $19142.40     | 0.03%             | 2035-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 766556        | CUSIP: 36176HMD3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       927 | PA      | $914.25       | 0.00%             | 2062-08-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 995008        | CUSIP: 31416BKV9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     29698 | PA      | $30617.52     | 0.04%             | 2036-10-01      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 1/4 05/15/35 | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    555000 | PA      | $556083.98    | 0.74%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHMS Q016 APT1   | CUSIP: 3137H2NT7<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   1257843 | PA      | $1227041.32   | 1.64%             | 2051-05-25      | Floating      | 1.24%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 899650        | CUSIP: 3620E1AY0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    168130 | PA      | $170532.55    | 0.23%             | 2063-02-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 5/8 02/15/35 | CUSIP: 91282CMM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    720000 | PA      | $743287.50    | 0.99%             | 2035-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 880373        | CUSIP: 31409WCJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     61446 | PA      | $63561.03     | 0.09%             | 2036-02-01      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 879683        | CUSIP: 31409VJ46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       924 | PA      | $945.32       | 0.00%             | 2036-09-01      | Floating      | 7.27%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FR SB8031        | CUSIP: 3132D54Q2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    315409 | PA      | $297325.80    | 0.40%             | 2035-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 773437        | CUSIP: 36176RBE1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1310 | PA      | $1293.16      | 0.00%             | 2062-02-20      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AL0883        | CUSIP: 3138EG6V1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6035 | PA      | $6138.48      | 0.01%             | 2038-01-01      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 1/4 11/15/34 | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1545000 | PA      | $1550793.75   | 2.07%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 899633        | CUSIP: 3620E06X9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    319683 | PA      | $326069.22    | 0.44%             | 2063-01-20      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 899765        | CUSIP: 3620E1AJ3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    172168 | PA      | $174854.21    | 0.23%             | 2063-02-20      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 2557 WF      | CUSIP: 31393JPL6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |      6680 | PA      | $6454.94      | 0.01%             | 2033-01-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AL1288        | CUSIP: 3138EHNE8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    114470 | PA      | $116596.04    | 0.16%             | 2037-09-01      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 2450 FW      | CUSIP: 31392KN93<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |      3940 | PA      | $3815.23      | 0.01%             | 2032-03-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 642012        | CUSIP: 31390CGV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15491 | PA      | $15851.38     | 0.02%             | 2032-05-01      | Floating      | 6.51%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 899651        | CUSIP: 3620E1AW4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     62814 | PA      | $64122.84     | 0.09%             | 2063-02-20      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Banks                                | FHLBDN 07/09/25  | CUSIP: 313385HX7<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   2835000 | PA      | $2832400.46   | 3.79%             | 2025-07-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 783245        | CUSIP: 31405AES8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6532 | PA      | $6529.60      | 0.01%             | 2034-04-01      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AQ9715        | CUSIP: 3138MRYM7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    308474 | PA      | $277713.49    | 0.37%             | 2043-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2008-86 LA   | CUSIP: 31397ME86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     54618 | PA      | $53303.27     | 0.07%             | 2038-08-25      | Floating      | 3.51%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 3 3/4 08/31/26 | CUSIP: 91282CLH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    870000 | PA      | $868028.91    | 1.16%             | 2026-08-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 899072        | CUSIP: 3620E02E5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     48248 | PA      | $49148.10     | 0.07%             | 2062-10-20      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 3561 W       | CUSIP: 31398JLT8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     89712 | PA      | $84461.13     | 0.11%             | 2048-06-15      | Floating      | 2.54%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN BM1078        | CUSIP: 3140J5FU8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1112642 | PA      | $1147805.03   | 1.54%             | 2040-12-01      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 3 3/4 04/30/27 | CUSIP: 91282CMY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    480000 | PA      | $479962.50    | 0.64%             | 2027-04-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 1/8 11/15/32 | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3780000 | PA      | $3806873.46   | 5.09%             | 2032-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 995949        | CUSIP: 31416CL61<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9672 | PA      | $10002.59     | 0.01%             | 2036-09-01      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 888628        | CUSIP: 31410GHD8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     29272 | PA      | $30045.79     | 0.04%             | 2037-07-01      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 880366        | CUSIP: 31409WCB5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7494 | PA      | $7580.74      | 0.01%             | 2036-02-01      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2020-H02 FG  | CUSIP: 38380LU50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   2625357 | PA      | $2623292.53   | 3.51%             | 2070-01-20      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 849046        | CUSIP: 31300MBP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    123722 | PA      | $127463.82    | 0.17%             | 2041-09-01      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 721424        | CUSIP: 31401XPH4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     31851 | PA      | $32715.83     | 0.04%             | 2033-06-01      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 889819        | CUSIP: 31410KSG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    123233 | PA      | $126462.58    | 0.17%             | 2037-04-01      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 725392        | CUSIP: 31402C2Z4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17342 | PA      | $17765.37     | 0.02%             | 2034-04-01      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 1L1358        | CUSIP: 3128Q3QK0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     78341 | PA      | $81007.82     | 0.11%             | 2036-05-01      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 848568        | CUSIP: 31300LQV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     33874 | PA      | $34793.97     | 0.05%             | 2038-09-01      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 846749        | CUSIP: 31408BWJ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    101942 | PA      | $103638.68    | 0.14%             | 2036-01-01      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 AG8209        | CUSIP: 36182DDN2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3498 | PA      | $3514.28      | 0.00%             | 2064-10-20      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 899633        | CUSIP: 31410WPS1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1153 | PA      | $1160.58      | 0.00%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHMS KJ42 A2     | CUSIP: 3137H92P3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   2580000 | PA      | $2550489.70   | 3.41%             | 2032-11-25      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 813844        | CUSIP: 31406MER3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     35399 | PA      | $36356.88     | 0.05%             | 2035-01-01      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | GNR 2003-72 Z    | CUSIP: 38374BQR7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     20593 | PA      | $20541.99     | 0.03%             | 2045-11-16      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN MA4562        | CUSIP: 31418EB82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2679707 | PA      | $2126034.76   | 2.84%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG Q18571        | CUSIP: 3132J96H6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    477021 | PA      | $448090.21    | 0.60%             | 2043-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 3 1/2 09/30/26 | CUSIP: 91282CLP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    430000 | PA      | $427850.00    | 0.57%             | 2026-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FH 1Q0647        | CUSIP: 3128S4WG8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     16785 | PA      | $17146.96     | 0.02%             | 2038-11-01      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AD0541        | CUSIP: 31418MS78<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    253447 | PA      | $260827.53    | 0.35%             | 2033-11-01      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 735667        | CUSIP: 31402RJL4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     35545 | PA      | $35991.38     | 0.05%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 1/4 01/31/26 | CUSIP: 91282CJV4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    525000 | PA      | $524994.06    | 0.70%             | 2026-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | FHMS K540 A2     | CUSIP: 3137HLJA1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1085000 | PA      | $1099837.81   | 1.47%             | 2030-02-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHMS KJ21 A2     | CUSIP: 3137FHGE7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    779463 | PA      | $773767.55    | 1.03%             | 2026-09-25      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2002-30 FB   | CUSIP: 31392CH49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     20428 | PA      | $19941.17     | 0.03%             | 2031-08-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AD0959        | CUSIP: 31418NB58<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     69099 | PA      | $70658.61     | 0.09%             | 2037-07-01      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 1/2 03/31/26 | CUSIP: 91282CKH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    495000 | PA      | $496394.63    | 0.66%             | 2026-03-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 898436        | CUSIP: 3620E1AM6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     39059 | PA      | $39914.80     | 0.05%             | 2063-02-20      | Floating      | 6.59%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 3 3/4 06/30/27 | CUSIP: 91282CNL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4355000 | PA      | $4357466.72   | 5.83%             | 2027-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2002-71 AP   | CUSIP: 31392FES2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |      4523 | PA      | $4344.36      | 0.01%             | 2032-11-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 2131 ZB      | CUSIP: 3133TK5Q9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     13339 | PA      | $13000.93     | 0.02%             | 2029-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AO4163        | CUSIP: 3138LUTV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    332132 | PA      | $309647.76    | 0.41%             | 2042-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 3412 AY      | CUSIP: 31397RFM3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    103755 | PA      | $107787.29    | 0.14%             | 2038-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 898433        | CUSIP: 3620E05W2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     40352 | PA      | $40843.22     | 0.05%             | 2063-01-20      | Floating      | 6.59%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 765229        | CUSIP: 36176F4N5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3753 | PA      | $3672.03      | 0.00%             | 2062-11-20      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FG G08448        | CUSIP: 3128MJQA1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     34993 | PA      | $35492.07     | 0.05%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHMS KF77 AL     | CUSIP: 3137FRYZ8<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |    947085 | PA      | $949054.03    | 1.27%             | 2027-02-25      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 AE9606        | CUSIP: 36181DU79<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      9721 | PA      | $9818.57      | 0.01%             | 2064-08-20      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AB9096        | CUSIP: 31417GDA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    100323 | PA      | $96118.72     | 0.13%             | 2043-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 2768 PW      | CUSIP: 31394TAG0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     21601 | PA      | $20807.80     | 0.03%             | 2034-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHMS KF72 A      | CUSIP: 3137FQ3S0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     50692 | PA      | $50675.01     | 0.07%             | 2026-11-25      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHMS KF82 AS     | CUSIP: 3137FV2G6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    529075 | PA      | $528729.69    | 0.71%             | 2030-06-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 02/15/34     | CUSIP: 91282CJZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    545000 | PA      | $539571.29    | 0.72%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 725320        | CUSIP: 31402CYR7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3179 | PA      | $3253.92      | 0.00%             | 2039-08-01      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AO8169        | CUSIP: 3138M0CF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1775844 | PA      | $1655597.39   | 2.21%             | 2042-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AB5519        | CUSIP: 31417CDZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    193764 | PA      | $181366.35    | 0.24%             | 2042-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AJ0875        | CUSIP: 3138AR6M1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    258188 | PA      | $267296.86    | 0.36%             | 2041-10-01      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 863729        | CUSIP: 31408XSS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     28827 | PA      | $29641.77     | 0.04%             | 2036-01-01      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 838948        | CUSIP: 31407SBR2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     66825 | PA      | $67443.11     | 0.09%             | 2035-08-01      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2020-35 FA   | CUSIP: 3136BANP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1004931 | PA      | $991799.99    | 1.33%             | 2050-06-25      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 844532        | CUSIP: 31407YHH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7003 | PA      | $7138.91      | 0.01%             | 2035-11-01      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNA 2017-M14 A2  | CUSIP: 3136AY2H5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2166915 | PA      | $2105898.80   | 2.82%             | 2027-11-25      | Floating      | 2.90%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 1/8 02/28/27 | CUSIP: 91282CMP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    185000 | PA      | $185975.59    | 0.25%             | 2027-02-28      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AL0361        | CUSIP: 3138EGMK7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     48547 | PA      | $49920.29     | 0.07%             | 2035-07-01      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 1/4 11/30/26 | CUSIP: 91282CLY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    480000 | PA      | $482512.50    | 0.65%             | 2026-11-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2009-50 PT   | CUSIP: 31396QMN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     59427 | PA      | $60199.47     | 0.08%             | 2037-05-25      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AL0920        | CUSIP: 3138EHAW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     28409 | PA      | $28720.04     | 0.04%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 777432        | CUSIP: 36176VPR8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      6865 | PA      | $6847.11      | 0.01%             | 2062-10-20      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FNR 2000-45 FD   | CUSIP: 31358SZY0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     15996 | PA      | $15517.60     | 0.02%             | 2030-12-18      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN AC2472        | CUSIP: 31417LXA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     35343 | PA      | $35576.36     | 0.05%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | FN 813637        | CUSIP: 31406L4W5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    149883 | PA      | $154585.85    | 0.21%             | 2036-01-01      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | G2 894704        | CUSIP: 3620E0QF6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5665 | PA      | $5694.62      | 0.01%             | 2061-10-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | FHR 3104 DH      | CUSIP: 31396GJP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |       542 | PA      | $524.90       | 0.00%             | 2026-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | T 4 7/8 05/31/26 | CUSIP: 91282CKS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    205000 | PA      | $206493.80    | 0.28%             | 2026-05-31      | Fixed         | 4.88%                 | No            |                  2 | 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