# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0000910472-25-003952
**Filing Date:** 2025-11
**Character Count:** 41156
**Document Hash:** 1fdc5a4e4d1ed5a9c5b71d6c55a3be25
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-003952.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0000910472-25-003952

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Northern Lights Fund Trust
- **CENTRAL INDEX KEY:** 0001314414

**ORGANIZATION NAME:**
- **EIN:** 043023766
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21720
- **FILM NUMBER:** 251517327

**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

### Grant Park Multi Alternative Strategies Fund (Series ID: S000043473)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000134834 | Grant Park Multi Alternative Strategies Fund Class A | GPAAX           |
| C000134835 | Grant Park Multi Alternative Strategies Fund Class C | GPACX           |
| C000134836 | Grant Park Multi Alternative Strategies Fund Class I | GPAIX           |
| C000134837 | Grant Park Multi Alternative Strategies Fund Class N | GPANX           |

## 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:** Grant Park Multi Alternative Strategies Fund

- **b. EDGAR series identifier (if any):** S000043473

- **c. LEI of Series:** 549300WI2ZZPAX73J539

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

- **a. Date of fiscal year-end:** 2025-09-30

- **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:** $308673688.73

**Total Liabilities:** $495875.91

**Net Assets:** $308177812.82

**Amount of Assets Invested in Other Investment Companies:** $45032729.67

**Cash Not Reported:** $15796131.71

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1151.81351600 | **1-Year:** 11353.33805900 | **5-Year:** 5415.28198100 | **10-Year:** 628.39908900 | **30-Year:** 0.00000000

**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 C000134837 | 0.19%                | 1.76%                | 3.55%                |
| Class ID C000134836 | 0.27%                | 1.74%                | 3.59%                |
| Class ID C000134835 | 0.10%                | 1.65%                | 3.53%                |
| Class ID C000134834 | 0.19%                | 1.76%                | 3.55%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $738319.99               | $-750992.83                                |
| Month 2  | $217584.82               | $2661511.76                                |
| Month 3  | $130346.98               | $2789152.80                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Federal Home Loan Banks                                       | FHLB 1 06/30/27           | CUSIP: 3130AMWF5<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |  10000000 | PA      | $9716118.10   | 3.15%             | 2027-06-30      | Floating      | 1.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                                  | B 11/06/25                | CUSIP: 912797QP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9959900.00   | 3.23%             | 2025-11-06      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | EURO FX CURR FUT  Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DFE              | CORP              | US        |        87 | NC      | $-16487.50    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Tax Managed Funds                                    | VANGUARD FTSE ET          | CUSIP: 921943858<br>LEI: 549300PTTIGTMUA02X28 | Long             | EC               | RF                | US        |    171734 | NS      | $10290301.28  | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| EUREX DEUTSCHLAND                                             | EURO-BUXL 30Y BND Dec25   | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Short            | DIR              | CORP              | DE        |       -16 | NC      | $-5633.20     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | ISHARES RUSSELL           | CUSIP: 464287622<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      5004 | NS      | $1828861.92   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | ISHARES US REAL           | CUSIP: 464287739<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     18409 | NS      | $1787145.72   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                         | FNMA 0 3/4 01/20/26       | CUSIP: 3136G4ZQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGSE             | US        |   5000000 | PA      | $4951252.10   | 1.61%             | 2026-01-20      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | ROUGH RICE (CBOT) Nov25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DCO              | CORP              | US        |       -29 | NC      | $54460.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | AUDUSD Crncy Fut  Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DFE              | CORP              | US        |       204 | NC      | $-21425.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| HONG KONG FUTURES EXCHANGE LTD.                               | HANG SENG IDX FUT Oct25   | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | HK        |        80 | NC      | $248754.16    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | CORN FUTURE       Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DCO              | CORP              | US        |      -141 | NC      | $-1387.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE (FLOOR)                           | S&P500 EMINI FUT  Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DE               | CORP              | US        |        77 | NC      | $685702.50    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                                               | MSFT 3 1/8 11/03/25       | CUSIP: 594918BJ2<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4994917.00   | 1.62%             | 2025-11-03      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE                                  | PLATINUM FUTURE   Jan26   | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Long             | DCO              | CORP              | US        |        31 | NC      | $146820.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | C$ CURRENCY FUT   Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DFE              | CORP              | US        |      -249 | NC      | $182760.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                              | FHLMC 0.7 08/19/26        | CUSIP: 3134GWLX2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | USGSE             | US        |  10000000 | PA      | $9739910.60   | 3.16%             | 2026-08-19      | Fixed         | 0.70%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                        | US LONG BOND(CBT) Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |       162 | NC      | $99589.80     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | 3 MONTH SOFR FUT  Jun27   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DIR              | CORP              | US        |      1474 | NC      | $-335987.50   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER                                   | COPPER FUTURE     Dec25   | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Short            | DCO              | CORP              | US        |        -4 | NC      | $-19112.50    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| OSAKA EXCHANGE                                                | JPN 10Y BOND(OSE) Dec25   | CUSIP: N/A<br>LEI: 353800578ADEGIJTVW07       | Short            | DIR              | CORP              | JP        |       -78 | NC      | $369530.58    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE (FLOOR)                           | NASDAQ 100 E-MINI DEC25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DE               | CORP              | US        |        16 | NC      | $277929.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE                                  | WTI CRUDE FUTURE  Nov25   | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Short            | DCO              | CORP              | US        |       -24 | NC      | $10300.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Gold Trust                                            | ISHARES GOLD TRU          | CUSIP: 464285204<br>LEI: 5493006UOY7GXQW0IP42 | Long             | EC               | RF                | US        |    144190 | NS      | $10492706.30  | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association                      | GNR 2019-159 QA           | CUSIP: 38382BJZ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1988464 | PA      | $1749915.79   | 0.57%             | 2049-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | OAT FUTURE        Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DCO              | CORP              | US        |       -31 | NC      | $35525.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| EUREX DEUTSCHLAND                                             | EURO-BUND FUTURE  Dec25   | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Short            | DIR              | CORP              | DE        |       -98 | NC      | $-7803.38     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Liquidity Funds                  | MSILF-GOVT-INS            | CUSIP: 61747C707<br>LEI: 5493000A332Y142SOW84 | Long             | STIV             | RF                | US        |  75261562 | PA      | $75261561.76  | 24.42%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE                                  | WTI CRUDE FUTURE  Nov25   | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Long             | DCO              | CORP              | US        |         3 | NC      | $-2580.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | SUGAR #11 (WORLD) Mar26   | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Short            | DCO              | CORP              | US        |      -550 | NC      | $-26364.80    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                           | LME NICKEL FUTURE Dec25   | CUSIP: N/A<br>LEI: N/A                        | Short            | DCO              | CORP              | GB        |       -53 | NC      | $-11428.64    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | NEW ZEALAND $ FUT Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DFE              | CORP              | US        |      -240 | NC      | $354070.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE - FINANCIAL PRODUCTS DIVISION              | 3MO EURO EURIBOR  JUN27   | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | Long             | DIR              | CORP              | GB        |       673 | NC      | $-185089.60   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | COFFEE 'C' FUTURE Dec25   | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Short            | DCO              | CORP              | US        |        -2 | NC      | $-47962.50    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | MSCI EmgMkt       Dec25   | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Long             | DE               | CORP              | US        |       230 | NC      | $283290.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Banks                                       | FHLB 1 08/24/28           | CUSIP: 3130ANPY0<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   9900000 | PA      | $9636400.62   | 3.13%             | 2028-08-24      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | SOYBEAN FUTURE    Nov25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DCO              | CORP              | US        |       -29 | NC      | $11150.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SINGAPORE COMMODITY EXCHANGE                                  | IODEX IO FUT      Nov25   | CUSIP: N/A<br>LEI: N/A                        | Long             | DCO              | CORP              | SG        |       526 | NC      | $-120272.00   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | OAT FUTURE        Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |        12 | NC      | $-32837.50    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | ISHARES MSCI EME          | CUSIP: 464287234<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     35945 | NS      | $1919463.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE - FINANCIAL PRODUCTS DIVISION              | LONG GILT FUTURE  Dec25   | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | Short            | DIR              | CORP              | GB        |      -141 | NC      | $-34597.47    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                                            | Low Su Gasoil G   Nov25   | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | Long             | DCO              | CORP              | GB        |       138 | NC      | $2400.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                        | US 5YR NOTE (CBT) Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |       300 | NC      | $-61967.40    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| EUREX DEUTSCHLAND                                             | EURO-SCHATZ FUT   Dec25   | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Short            | DIR              | CORP              | DE        |      -307 | NC      | $58813.26     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | LEAN HOGS FUTURE  Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DCO              | CORP              | US        |        62 | NC      | $2060.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| LONDON METAL EXCHANGE                                         | LME COPPER FUTURE Dec25   | CUSIP: N/A<br>LEI: 213800NB8G5VRT1DXC91       | Long             | DCO              | CORP              | N/A       |        35 | NC      | $291200.98    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | ISHARES RUSSELL           | CUSIP: 464287655<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      7639 | NS      | $1848332.44   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | SOYBEAN OIL FUTR  Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |         7 | NC      | $-19692.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | S&P MID 400 EMINI Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DE               | CORP              | US        |        20 | NC      | $-12435.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                        | US 10YR NOTE (CBT)Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |       254 | NC      | $-90784.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | COTTON NO.2 FUTR  Dec25   | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Short            | DCO              | CORP              | US        |      -450 | NC      | $157345.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | CHF CURRENCY FUT  Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DFE              | CORP              | US        |        25 | NC      | $-19543.75    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Banks                                       | FHLB 1 06/30/26           | CUSIP: 3130AMZD7<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |  10000000 | PA      | $9878929.40   | 3.21%             | 2026-06-30      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | WHEAT FUTURE(CBT) Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DCO              | CORP              | US        |      -204 | NC      | $347362.50    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                                            | BRENT CRUDE FUTR  Dec25   | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | Short            | DCO              | CORP              | GB        |       -25 | NC      | $30510.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER                                   | GOLD 100 OZ FUTR  Dec25   | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Long             | DCO              | CORP              | US        |        95 | NC      | $3654200.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | ISHARES MSCI ACW          | CUSIP: 464288240<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     28114 | NS      | $1827691.14   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Banks                                       | FHLB 1 07/21/26           | CUSIP: 3130AN6W5<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |  14000000 | PA      | $13805007.86  | 4.48%             | 2026-07-21      | Floating      | 1.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                                  | B 10/30/25                | CUSIP: 912797NA1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9967454.90   | 3.23%             | 2025-10-30      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Banks                                       | FHLB 1 02/25/28           | CUSIP: 3130ALCL6<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |  14750000 | PA      | $14247203.33  | 4.62%             | 2028-02-25      | Floating      | 1.50%                 | No            |                  2 | On Loan: No      |
| LONDON METAL EXCHANGE                                         | LME PRI ALUM FUTR Dec25   | CUSIP: N/A<br>LEI: 213800NB8G5VRT1DXC91       | Long             | DCO              | CORP              | N/A       |       128 | NC      | $189248.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | JPN YEN CURR FUT  Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DFE              | CORP              | US        |      -219 | NC      | $77120.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                                          | VANGUARD REAL ES          | CUSIP: 922908553<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |     21449 | NS      | $1960867.58   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                        | US 2YR NOTE (CBT) Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |       246 | NC      | $-92075.25    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| EUREX DEUTSCHLAND                                             | EURO-BOBL FUTURE  Dec25   | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Short            | DIR              | CORP              | DE        |       -97 | NC      | $25538.68     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | ISHARES RUSSELL           | CUSIP: 464287499<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     20061 | NS      | $1936889.55   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | CANOLA FUTR (WCE) Nov25   | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Short            | DCO              | CORP              | US        |       -61 | NC      | $17230.87     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | SOYBEAN OIL FUTR  Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DCO              | CORP              | US        |       -61 | NC      | $108822.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | DOLLAR INDEX      Dec25   | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Short            | DFE              | CORP              | US        |      -171 | NC      | $-18468.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| EUREX DEUTSCHLAND                                             | DAX INDEX FUTURE  Dec25   | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Short            | DE               | CORP              | DE        |        -7 | NC      | $-36105.63    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | COCOA FUTURE      Dec25   | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Short            | DCO              | CORP              | US        |       -26 | NC      | $73680.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | LIVE CATTLE FUTR  Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DCO              | CORP              | US        |        21 | NC      | $-4520.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                                            | BRENT CRUDE FUTR  Dec25   | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | Long             | DCO              | CORP              | GB        |        52 | NC      | $-79430.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Banks                                       | FHLB 0 3/4 01/28/28       | CUSIP: 3130AKRU2<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |  10000000 | PA      | $9680661.00   | 3.14%             | 2028-01-28      | Floating      | 1.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE                                  | NY Harb ULSD Fut  Nov25   | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Long             | DCO              | CORP              | US        |        28 | NC      | $-33642.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Banks                                       | FHLB 2 05/27/27           | CUSIP: 3130AME65<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |   4250000 | PA      | $4229291.71   | 1.37%             | 2027-05-27      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| EUREX DEUTSCHLAND                                             | Euro-OAT Future   Dec25   | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Short            | DIR              | CORP              | DE        |       -80 | NC      | $-62044.99    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE - FINANCIAL PRODUCTS DIVISION              | ICE 3MTH SONIA FU Jun27   | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | Short            | DIR              | CORP              | GB        |     -1019 | NC      | $-50189.65    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | BP CURRENCY FUT   Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Short            | DFE              | CORP              | US        |        -5 | NC      | $2843.75      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Banks                                       | FHLB 1 1/4 08/16/28       | CUSIP: 3130ANGS3<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |  10000000 | PA      | $9607687.20   | 3.12%             | 2028-08-16      | Floating      | 1.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                         | FNMA 0.85 06/30/26        | CUSIP: 3136G4XJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGSE             | US        |  13000000 | PA      | $12729486.38  | 4.13%             | 2026-06-30      | Fixed         | 0.85%                 | No            |                  2 | On Loan: No      |
| iShares Trust                                                 | ISHARES-C S&P500          | CUSIP: 464287200<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     12350 | NS      | $8265855.00   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard International Equity Index Funds                     | VANGUARD FTSE EM          | CUSIP: 922042858<br>LEI: 549300UR5XWDVDO7NP96 | Long             | EC               | RF                | US        |    185742 | NS      | $10063501.56  | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | COFFEE 'C' FUTURE Dec25   | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Long             | DCO              | CORP              | US        |        10 | NC      | $73950.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | SOYBEAN MEAL FUTR Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DCO              | CORP              | US        |      -294 | NC      | $341550.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | COCOA FUTURE      Dec25   | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Long             | DCO              | CORP              | US        |         1 | NC      | $-20230.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                           | LME ZINC FUTURE   Dec25   | CUSIP: N/A<br>LEI: N/A                        | Long             | DCO              | CORP              | GB        |        69 | NC      | $37966.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | FED FUND 30DAY    Dec25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |       171 | NC      | $-645.89      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | ISHARES MSCI EAF          | CUSIP: 464287465<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     19296 | NS      | $1801667.52   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | MEXICAN PESO FUT  Dec25   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DFE              | CORP              | US        |       499 | NC      | $268510.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | ISHARES MSCI ACW          | CUSIP: 464288257<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     13738 | NS      | $1899141.12   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Scottsdale Funds                                     | VANGUARD LT TREA          | CUSIP: 92206C847<br>LEI: 549300Y88GQ3VLJIBX57 | Long             | EC               | RF                | US        |      2408 | NS      | $136918.88    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE                                  | GASOLINE RBOB FUT Nov25   | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Long             | DCO              | CORP              | US        |        44 | NC      | $-58308.60    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Actively Managed Exchange-Traded Commodity Fund Trust | INVESCO OPTIMUM YIELD DIV | CUSIP: 46090F100<br>LEI: 549300J84F1VGX03MG06 | Long             | EC               | RF                | US        |    398015 | NS      | $5345341.45   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE - FINANCIAL PRODUCTS DIVISION              | FTSE 100 IDX FUT  Dec25   | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | Long             | DE               | CORP              | GB        |       116 | NC      | $132331.51    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE                                  | NATURAL GAS FUTR  Nov25   | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Short            | DCO              | CORP              | US        |       -73 | NC      | $7130.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | ROUGH RICE (CBOT) Nov25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |         1 | NC      | $-3500.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER                                   | SILVER FUTURE     Dec25   | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Long             | DCO              | CORP              | US        |        14 | NC      | $602330.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                        | SOYBEAN FUTURE    Nov25   | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |        11 | NC      | $-18337.50    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | CANOLA FUTR (WCE) Nov25   | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Long             | DCO              | CORP              | US        |        28 | NC      | $-43734.13    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | ISHARES MSCI EAF          | CUSIP: 464288273<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     23612 | NS      | $1811512.64   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Home Loan Banks                                       | FHLB 1 1/4 02/24/28       | CUSIP: 3130ALGX6<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |  10000000 | PA      | $9664430.00   | 3.14%             | 2028-02-24      | Floating      | 1.62%                 | No            |                  2 | On Loan: No      |
| SINGAPORE EXCHANGE DERIVATIVES CLEARING LIMITED               | NIKKEI 225  (SGX) Dec25   | CUSIP: N/A<br>LEI: 549300IQ650PPXM76X03       | Long             | DE               | CORP              | SG        |       153 | NC      | $1485303.46   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | FCOJ-A FUTURE     Nov25   | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Short            | DCO              | CORP              | US        |        -3 | NC      | $6165.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EUREX DEUTSCHLAND                                             | Euro-BTP Future   Dec25   | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Long             | DIR              | CORP              | DE        |       134 | NC      | $53050.13     | 0.02%             |  |  |  | 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