# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0000910472-25-005315
**Filing Date:** 2025-12
**Character Count:** 21655
**Document Hash:** c7de3118c27224930d3874b0e36207f5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-005315.hdr.sgml**: 20251201

**ACCESSION NUMBER**: 0000910472-25-005315

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251201

**DATE AS OF CHANGE**: 20251201

**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:** 251537745

**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

### Altegris/AACA Opportunistic Real Estate Fund (Series ID: S000043690)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000135469 | Altegris/AACA Opportunistic Real Estate Fund Class A | RAAAX           |
| C000135470 | Altegris/AACA Opportunistic Real Estate Fund Class C | RAACX           |
| C000135471 | Altegris/AACA Opportunistic Real Estate Fund Class I | RAAIX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** | **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** | **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE 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 — 82.7%** |  |
|  | **ASSET MANAGEMENT - 8.7%** |  |
| 731990 | FTAI Infrastructure, Inc. | $3191476 |
|  | **DATA CENTER REIT - 8.3%** |  |
| 9215 | Digital Realty Trust, Inc. | 1593089 |
| 1818 | Equinix, Inc. | 1423930 |
|  |  | 3017019 |
|  | **FOOD - 5.2%** |  |
| 404206 | Cadiz, Inc.<sup>(a)</sup> | 1907852 |
|  | **HEALTH CARE REIT - 10.0%** |  |
| 890864 | IQHQ, Inc. 144A<sup>(a),(b),(c)</sup> | 2013353 |
| 23471 | Ventas, Inc. | 1642735 |
|  |  | 3656088 |
|  | **INDUSTRIAL REIT - 4.7%** |  |
| 14815 | Prologis, Inc. | 1696614 |
|  | **INFRASTRUCTURE REIT – 10.7%** |  |
| 13601 | American Tower Corporation | 2615745 |
| 9306 | Crown Castle, Inc. | 897936 |
| 2005 | SBA Communications Corporation, Class A | 387667 |
|  |  | 3901348 |
|  | **LEISURE FACILITIES & SERVICES - 4.7%** |  |
| 64100 | Caesars Entertainment, Inc.<sup>(a)</sup> | 1732303 |
|  | **RESIDENTIAL REIT - 1.4%** |  |
| 17897 | Invitation Homes, Inc. | 524919 |
|  | **RETAIL REIT - 8.6%** |  |
| 83359 | Macerich Company (The) | 1517134 |
| 8557 | Simon Property Group, Inc. | 1605892 |
|  |  | 3123026 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** | **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** | **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** | **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** | **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  |  |  | **Fair Value** |
|  | **COMMON STOCKS — 82.6% (Continued)** |  |  |  |
|  | **SELF-STORAGE REIT - 2.5%** |  |  |  |
| 6560 | Extra Space Storage, Inc. |  |  | $924566 |
|  | **SPECIALTY FINANCE - 10.2%** |  |  |  |
| 22320 | FTAI Aviation Ltd. |  |  | 3724315 |
|  | **SPECIALTY REIT - 6.6%** |  |  |  |
| 10195 | Iron Mountain, Inc. |  |  | 1039278 |
| 104142 | NewLake Capital Partners, Inc. |  |  | 1380923 |
|  |  |  |  | 2420201 |
|  | **TRANSPORTATION & LOGISTICS - 1.1%** |  |  |  |
| 4902 | Kirby Corporation<sup>(a)</sup> |  |  | 409072 |
|  | **TOTAL COMMON STOCKS (Cost $39,597,514)** |  |  | 30228799 |
|  |  | **Coupon Rate (%)** | **Maturity** |  |
|  | **PREFERRED STOCKS — 17.3%** |  |  |  |
|  | **FOOD — 5.7%** |  |  |  |
| 106684 | Cadiz, Inc., Series A | 8.8750 | Perpetual | 2069670 |
|  | **REAL ESTATE INVESTMENT TRUSTS — 3.2%** |  |  |  |
| 7159 | EPR Properties - Series C | 5.7500 | Perpetual | 182053 |
| 7078 | EPR Properties - Series G | 5.7500 | Perpetual | 153168 |
| 12285 | Global Net Lease, Inc. - Series A | 7.2500 | Perpetual | 288083 |
| 1083 | Mid-America Apartment Communities, Inc. - Series I | 8.5000 | Perpetual | 60320 |
| 7307 | Pebblebrook Hotel Trust - Series E | 6.3750 | Perpetual | 147674 |
| 15983 | Pebblebrook Hotel Trust - Series G | 6.3750 | Perpetual | 318063 |
| 592 | Simon Property Group, Inc. - Series J | 8.3750 | Perpetual | 31666 |
|  |  |  |  | 1181027 |
|  | **SPECIALTY FINANCE — 3.5%** |  |  |  |
| 27280 | Annaly Capital Management, Inc. - Series G | 9.7638 | Perpetual | 685274 |
| 3000 | FTAI Aviation Ltd. - Series D | 9.5000 | Perpetual | 80340 |
| 6084 | FTAI Aviation Ltd. Investors, LLC Series C | 8.2500 | Perpetual | 155872 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** | **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** | **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** | **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** | **ALTEGRIS/AACA OPPORTUNISTIC REAL ESTATE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **SPECIALTY FINANCE — 3.5% (Continued)** |  |  |  |
| 17941 | MFA Financial, Inc. - Series B | 7.5000 | Perpetual | $376043 |
|  |  |  |  | 1297529 |
|  | **TELECOMMUNICATIONS — 4.9%** |  |  |  |
| 23735 | DigitalBridge Group, Inc. - Series H | 7.1250 | Perpetual | 530477 |
| 30000 | DigitalBridge Group, Inc. - Series I | 7.1500 | Perpetual | 669000 |
| 26505 | DigitalBridge Group, Inc. - Series J | 7.1250 | Perpetual | 583640 |
|  |  |  |  | 1783117 |
|  | **TOTAL PREFERRED STOCKS (Cost $5,572,544)** |  |  | 6331343 |
|  | **SHORT-TERM INVESTMENTS — 1.5%** |  |  |  |
|  | **MONEY MARKET FUNDS - 1.5%** |  |  |  |
| 555866 | First American Government Obligations Fund, Class X, 4.05% (Cost $555,866)<sup>(d)</sup> |  |  | 555866 |
|  | **TOTAL INVESTMENTS - 101.5% (Cost $45,725,924)** |  |  | $37116008 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (1.5)%** |  |  | (546732) |
|  | **NET ASSETS - 100.0%** |  |  | $36569276 |

---

---

| | |
|:---|:---|
| LLC | - Limited Liability Company |
| Ltd. | - Limited Company |
| REIT | - Real Estate Investment Trust |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2025 the total market value of 144A securities is 2,013,353 or 5.5% of net assets.

<sup>(c)</sup> Level 3 securities, fair value under procedures established by the Board of Trustees. The total fair value of these securities as of March 31, 2025 was $2,013,353, representing 5.5% of net assets and is illiquid.

<sup>(d)</sup> Rate disclosed is the seven day effective yield as of 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:** Altegris/AACA Opportunistic Real Estate Fund

- **b. EDGAR series identifier (if any):** S000043690

- **c. LEI of Series:** 549300HUAR30OK9GUJ48

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

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

- **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:** $37805560.70

**Total Liabilities:** $1236284.75

**Net Assets:** $36569275.95

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000135469 | -0.10%               | -2.33%               | 0.60%                |
| Class ID C000135470 | -0.10%               | -2.39%               | 0.41%                |
| Class ID C000135471 | 0.00%                | -2.29%               | 0.49%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $949405.15               | $-984952.81                                |
| Month 2  | $-2461831.88             | $1460066.14                                |
| Month 3  | $-2733417.50             | $2767617.97                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SBA Communications Corp.                | SBA COMM CORP    | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      2005 | NS      | $387666.75    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                          | EPR 5 3/4 PERP   | CUSIP: 26884U505<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EP               | CORP              | US        |      7078 | NS      | $153167.92    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc.              | CAESARS ENTERTAI | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |     64100 | NS      | $1732302.50   | 4.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management, Inc.         | NLY 9.76377 PERP | CUSIP: 035710862<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |     27280 | NS      | $685273.60    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities, Inc. | MAA 8 1/2 PERP   | CUSIP: 59522J889<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EP               | CORP              | US        |      1083 | NS      | $60319.85     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                           | EQUINIX INC      | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1818 | NS      | $1423930.32   | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc.                       | CROWN CASTLE INC | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |      9306 | NS      | $897935.94    | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Infrastructure Inc                 | FTAI INFRASTRUCT | CUSIP: 35953C106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    731990 | NS      | $3191476.40   | 8.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc.                             | VENTAS INC       | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     23471 | NS      | $1642735.29   | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation              | AMERICAN TOWER C | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     13601 | NS      | $2615744.32   | 7.15%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                       | FTAI 9 1/2 PERP  | CUSIP: G3730V147<br>LEI: N/A                  | Long             | EP               | CORP              | KY        |      3000 | NS      | $80340.00     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                 | PEB 6 3/8 PERP   | CUSIP: 70509V605<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |      7307 | NS      | $147674.47    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc.                | EXTRA SPACE STOR | CUSIP: 30225T102<br>LEI: 529900SDJHKRQWED6A16 | Long             | EC               | CORP              | US        |      6560 | NS      | $924566.40    | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                              | KIRBY CORP       | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |      4902 | NS      | $409071.90    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.               | FRST AM-GV OB-X  | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    386866 | PA      | $386865.99    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc.                   | INVITATION HOMES | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |     17897 | NS      | $524919.01    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| IQHQ Inc                                | IQHQ INC         | CUSIP: 44988Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    890864 | NS      | $2013352.64   | 5.51%             |  |  |  | Yes           |                  1 | On Loan: No      |
| DigitalBridge Group Inc                 | DBRG 7.15 PERP   | CUSIP: 25401T405<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |     30000 | NS      | $669000.00    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc.                           | PROLOGIS INC     | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     14815 | NS      | $1696613.80   | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Newlake Capital Partners Inc            | NEWLAKE CAPITAL  | CUSIP: 651495103<br>LEI: 549300SW6G33FGNP2338 | Long             | EC               | CORP              | US        |    104142 | NS      | $1380922.92   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                          | EPR 5 3/4 PERP   | CUSIP: 26884U208<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EP               | CORP              | US        |      7159 | NS      | $182053.37    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                       | FTAI 8 1/4 PERP  | CUSIP: G3730V139<br>LEI: N/A                  | Long             | EP               | CORP              | KY        |      6084 | NS      | $155872.08    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                | SPG 8 3/8 PERP   | CUSIP: 828806885<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EP               | CORP              | US        |       592 | NS      | $31666.08     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                | SIMON PROPERTY   | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      8557 | NS      | $1605892.19   | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadiz Inc                               | CADIZ INC        | CUSIP: 127537207<br>LEI: 549300PFFIS1TCKZS151 | Long             | EC               | CORP              | US        |    404206 | NS      | $1907852.32   | 5.22%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group Inc                 | DBRG 7 1/8 PERP  | CUSIP: 25401T306<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |     26505 | NS      | $583640.10    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group Inc                 | DBRG 7 1/8 PERP  | CUSIP: 25401T504<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |     23735 | NS      | $530477.25    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadiz Inc                               | CDZI 8 7/8 PERP  | CUSIP: 127537306<br>LEI: 549300PFFIS1TCKZS151 | Long             | EP               | CORP              | US        |    106684 | NS      | $2069669.60   | 5.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc.               | DIGITAL REALTY   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      9215 | NS      | $1593089.20   | 4.36%             |  |  |  | No            |                  1 | On Loan: No      |
| The Macerich Company                    | MACERICH CO      | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |     83359 | NS      | $1517133.80   | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc.                      | IRON MOUNTAIN    | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     10195 | NS      | $1039278.30   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA Financial Inc.                      | MFA 7 1/2 PERP   | CUSIP: 55272X409<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |     17941 | NS      | $376043.36    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                 | PEB 6 3/8 PERP   | CUSIP: 70509V803<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |     15983 | NS      | $318061.70    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                       | FTAI AVIATION LT | CUSIP: G3730V105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     22320 | NS      | $3724315.20   | 10.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease Inc                    | GNL 7 1/4 PERP   | CUSIP: 379378300<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |     12285 | NS      | $288083.25    | 0.79%             |  |  |  | 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