# EDGAR Filing Document

**Accession Number:** 0000916620
**File Stem:** 0002066578-25-001589
**Filing Date:** 2025-11
**Character Count:** 56857
**Document Hash:** 4dffdeb0988a2d25352a2748c30dceed
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-25-001589.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0002066578-25-001589

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN FUNDS
- **CENTRAL INDEX KEY:** 0000916620

**ORGANIZATION NAME:**
- **EIN:** 391777365
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08236
- **FILM NUMBER:** 251506555

**BUSINESS ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** 800-595-9111

**MAIL ADDRESS:**
- **STREET 1:** NORTHERN FUNDS
- **STREET 2:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

## Series and Classes Contracts Data

### U.S. Quality ESG Fund (Series ID: S000055816)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000219386 | Class I      |  |
| C000219387 | Class K      |  |

## 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 Funds

- **b. Investment Company Act file number:** 811-08236

- **c. CIK number of Registrant:** 0000916620

- **d. LEI of Registrant:** 5493004ZY1PEJR3C0A81

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 50 South LaSalle Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60603

  - **Telephone number:** 800-595-9111

**Item A.2. Information about the Series.**

- **a. Name of Series:** U.S. Quality ESG Fund

- **b. EDGAR series identifier (if any):** S000055816

- **c. LEI of Series:** 549300VYLQRXL7VJRY43

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

- **a. Date of fiscal year-end:** 2026-03-31

- **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:** $417307133.69

**Total Liabilities:** $89467.65

**Net Assets:** $417217666.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000219386 | 1.77%                | 2.10%                | 3.42%                |
| Class ID C000219387 | 1.77%                | 2.10%                | 3.48%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1504.01                 | $7670301.39                                |
| Month 2  | $9.16                    | $9305208.10                                |
| Month 3  | $29595804.78             | $-14105208.24                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| INTERNATIONAL BUSINESS MA     | INTERNATIONAL BUSINESS MA | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     15374 | NS      | $4337927.84   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AFLAC INC                     | AFLAC INC                 | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |     15739 | NS      | $1758046.30   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                   | NVIDIA CORP               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    173647 | NS      | $32399057.26  | 7.77%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORP                 | MCKESSON CORP             | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      3360 | NS      | $2595734.40   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTODESK INC                  | AUTODESK INC              | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      6396 | NS      | $2031817.32   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOMATIC DATA PROCESSING     | AUTOMATIC DATA PROCESSING | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     10907 | NS      | $3201204.50   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| BEST BUY CO INC               | BEST BUY CO INC           | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |      7715 | NS      | $583408.30    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R BLOCK INC                 | H&R BLOCK INC             | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |      4017 | NS      | $203139.69    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| UNUM GROUP                    | UNUM GROUP                | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     18493 | NS      | $1438385.54   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| METTLER-TOLEDO INTL. INC      | METTLER-TOLEDO INTL. INC  | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |      1427 | NS      | $1751799.47   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| AVALONBAY COMMUNITIES INC     | AVALONBAY COMMUNITIES INC | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |      7021 | NS      | $1356246.57   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CARDINAL HEALTH INC           | CARDINAL HEALTH INC       | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     10750 | NS      | $1687320.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOROX CO/THE                 | CLOROX CO/THE             | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |      5959 | NS      | $734744.70    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| COLGATE-PALMOLIVE CO          | COLGATE-PALMOLIVE CO      | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     21934 | NS      | $1753403.96   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 INC                        | F5 INC                    | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |      1063 | NS      | $343550.97    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR CORP               | SEALED AIR CORP           | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |     41059 | NS      | $1451435.65   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC                   | METLIFE INC               | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     22712 | NS      | $1870787.44   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| EBAY INC                      | EBAY INC                  | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     19328 | NS      | $1757881.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP          | BANK OF AMERICA CORP      | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      5651 | NS      | $291535.09    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYS. INC       | CADENCE DESIGN SYS. INC   | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      4635 | NS      | $1628090.10   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ELECTRONIC ARTS INC           | ELECTRONIC ARTS INC       | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     10995 | NS      | $2217691.50   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPEDITORS INTL. OF WASHI     | EXPEDITORS INTL. OF WASHI | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |     12149 | NS      | $1489345.91   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| FISERV INC                    | FISERV INC                | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     10812 | NS      | $1393991.16   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES INC           | GILEAD SCIENCES INC       | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     33335 | NS      | $3700185.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| WW GRAINGER INC               | WW GRAINGER INC           | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |      1468 | NS      | $1398945.28   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| HASBRO INC                    | HASBRO INC                | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |     19408 | NS      | $1472096.80   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| HOLOGIC INC                   | HOLOGIC INC               | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |     18925 | NS      | $1277248.25   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLINOIS TOOL WORKS INC       | ILLINOIS TOOL WORKS INC   | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      7866 | NS      | $2051138.16   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC                    | INTUIT INC                | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      6438 | NS      | $4396574.58   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| INCYTE CORP                   | INCYTE CORP               | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |      9371 | NS      | $794754.51    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GRP. INC                | EMCOR GRP. INC            | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      2841 | NS      | $1845343.14   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY & CO COM NPV        | ELI LILLY & CO COM NPV    | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      2688 | NS      | $2050944.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWE S COS INC                | LOWE S COS INC            | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     14425 | NS      | $3625146.75   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORP                  | CHEVRON CORP              | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1278 | NS      | $198460.62    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC INV. CORP                | MGIC INV. CORP            | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     56153 | NS      | $1593060.61   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| NI US GOV T PORTFOLIO         | NI US GOV T PORTFOLIO     | CUSIP: 665278404<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   3752759 | NS      | $3752758.55   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED STATES TSY. 0.00%      | UNITED STATES TSY. 0.00%  | CUSIP: 912797NL7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    276000 | PA      | $274221.56    | 0.07%             | 2025-11-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| APPLIED MATS. INC             | APPLIED MATS. INC         | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     20725 | NS      | $4243236.50   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO       | BRISTOL-MYERS SQUIBB CO   | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     41847 | NS      | $1887299.70   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CINTAS CORP                   | CINTAS CORP               | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1418 | NS      | $291058.68    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYS. INC                | CISCO SYS. INC            | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     27444 | NS      | $1877718.48   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERCE BANCSHARES INC/M     | COMMERCE BANCSHARES INC/M | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13496 | NS      | $806520.96    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                | MORGAN STANLEY            | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     27342 | NS      | $4346284.32   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ECOLAB INC                    | ECOLAB INC                | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      7197 | NS      | $1970970.42   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PENTAIR PLC                   | PENTAIR PLC               | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | IE        |     15866 | NS      | $1757318.16   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST HAWAIIAN INC            | FIRST HAWAIIAN INC        | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     33879 | NS      | $841215.57    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TAPESTRY INC                  | TAPESTRY INC              | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     16711 | NS      | $1892019.42   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEARWAY ENERGY INC           | CLEARWAY ENERGY INC       | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |     44127 | NS      | $1246587.75   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| HOWMET AEROSPACE INC          | HOWMET AEROSPACE INC      | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      4758 | NS      | $933662.34    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIXMOR PROP. GRP. INC        | BRIXMOR PROP. GRP. INC    | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |      7587 | NS      | $210008.16    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLY FINL. INC                | ALLY FINL. INC            | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |     13741 | NS      | $538647.20    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| TOPBUILD CORP                 | TOPBUILD CORP             | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      4060 | NS      | $1586891.60   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| JANUS HENDERSON GRP. PLC      | JANUS HENDERSON GRP. PLC  | CUSIP: G4474Y214<br>LEI: 2138009WPYMWJN3RVF44 | Long             | EC               | CORP              | JE        |     30521 | NS      | $1358489.71   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANE TECHS. PLC              | TRANE TECHS. PLC          | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      5967 | NS      | $2517835.32   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCOM SOFTWARE INC           | PAYCOM SOFTWARE INC       | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |      2729 | NS      | $568014.06    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL           | SYNCHRONY FINANCIAL       | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     24140 | NS      | $1715147.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| SPOTIFY TECH. SA              | SPOTIFY TECH. SA          | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |      2091 | NS      | $1459518.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                  | BROADCOM INC              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     29959 | NS      | $9883773.69   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA GROUP/THE               | CIGNA GROUP/THE           | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      6938 | NS      | $1999878.50   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIS TOWERS WATSON PLC      | WILLIS TOWERS WATSON PLC  | CUSIP: G96629103<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |      4852 | NS      | $1676123.40   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| DROPBOX INC                   | DROPBOX INC               | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     49940 | NS      | $1508687.40   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PALANTIR TECHS. INC           | PALANTIR TECHS. INC       | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      2517 | NS      | $459151.14    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRBNB INC                    | AIRBNB INC                | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      4164 | NS      | $505592.88    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TRAVEL + LEISURE CO           | TRAVEL + LEISURE CO       | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     25452 | NS      | $1514139.48   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYPAL HLDGS. INC             | PAYPAL HLDGS. INC         | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     12611 | NS      | $845693.66    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOKING HLDGS. INC            | BOOKING HLDGS. INC        | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       732 | NS      | $3952265.64   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| VOYA FINL. INC                | VOYA FINL. INC            | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |      8412 | NS      | $629217.60    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| OTIS WORLDWIDE CORP           | OTIS WORLDWIDE CORP       | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |      3415 | NS      | $312233.45    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTL. GRP. INC       | AMERICAN INTL. GRP. INC   | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      4851 | NS      | $380997.54    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| INGREDION INC                 | INGREDION INC             | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     10983 | NS      | $1341134.13   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC CL A       | META PLATFORMS INC CL A   | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     11928 | NS      | $8759684.64   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                  | ALPHABET INC              | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     69047 | NS      | $16785325.70  | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HILTON WORLDWIDE HLDGS. I     | HILTON WORLDWIDE HLDGS. I | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      7471 | NS      | $1938276.24   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| TECHNIPFMC PLC                | TECHNIPFMC PLC            | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     42249 | NS      | $1666723.05   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE HLDGS. INC          | EQUITABLE HLDGS. INC      | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |     29191 | NS      | $1482318.98   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BENTLEY SYS. INC              | BENTLEY SYS. INC          | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |     24113 | NS      | $1241337.24   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GRP. INC                 | CBRE GRP. INC             | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     11914 | NS      | $1877169.84   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                    | ABBVIE INC                | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     26153 | NS      | $6055465.62   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| VEEVA SYS. INC                | VEEVA SYS. INC            | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      5612 | NS      | $1671870.92   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYLOCITY HLDG. CORP          | PAYLOCITY HLDG. CORP      | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |      7747 | NS      | $1233864.69   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ETSY INC                      | ETSY INC                  | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Long             | EC               | CORP              | US        |     15849 | NS      | $1052215.11   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| HP INC                        | HP INC                    | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |     20417 | NS      | $555954.91    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY INC        | BERKSHIRE HATHAWAY INC    | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      8226 | NS      | $4135539.24   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE CORP     | BROOKFIELD RENEWABLE CORP | CUSIP: 11285B108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     47710 | NS      | $1642178.20   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MASCO CORP                    | MASCO CORP                | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |     10494 | NS      | $738672.66    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ACUITY INC                    | ACUITY INC                | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4068 | NS      | $1400978.52   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                   | ORACLE CORP               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      4936 | NS      | $1388200.64   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PARKER-HANNIFIN CORP          | PARKER-HANNIFIN CORP      | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |       403 | NS      | $305534.45    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INC                    | PFIZER INC                | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    136339 | NS      | $3473917.72   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| COSTCO WHOLESALE CORP         | COSTCO WHOLESALE CORP     | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      2784 | NS      | $2576953.92   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M CO                         | 3M CO                     | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |     11634 | NS      | $1805364.12   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER & GAMBLE CO/THE       | PROCTER & GAMBLE CO/THE   | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     24004 | NS      | $3688214.60   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL GOLD INC                | ROYAL GOLD INC            | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      9044 | NS      | $1814045.52   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHLUMBERGER NV               | SCHLUMBERGER NV           | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     29833 | NS      | $1025360.21   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| SHERWIN-WILLIAMS CO COM       | SHERWIN-WILLIAMS CO COM   | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |      5320 | NS      | $1842103.20   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORP             | STATE STREET CORP         | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     16497 | NS      | $1913816.97   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| DAVITA INC                    | DAVITA INC                | CUSIP: 23918K108<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | EC               | CORP              | US        |      9667 | NS      | $1284454.29   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GRP. INC         | UNITEDHEALTH GRP. INC     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       583 | NS      | $201309.90    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWN HLDGS. INC              | CROWN HLDGS. INC          | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     11273 | NS      | $1088859.07   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| WALMART INC                   | WALMART INC               | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      9022 | NS      | $929807.32    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN DIGITAL CORP          | WESTERN DIGITAL CORP      | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |      4054 | NS      | $486723.24    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS-SONOMA INC           | WILLIAMS-SONOMA INC       | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      8756 | NS      | $1711360.20   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PLC                 | ACCENTURE PLC             | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      7671 | NS      | $1891668.60   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK INC                     | MERCK INC                 | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      7374 | NS      | $618899.82    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP              | DUKE ENERGY CORP          | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      7161 | NS      | $886173.75    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CHENIERE ENERGY INC           | CHENIERE ENERGY INC       | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      7839 | NS      | $1842008.22   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| MILLICOM INTL. CELLULAR S     | MILLICOM INTL. CELLULAR S | CUSIP: L6388F110<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |     30805 | NS      | $1495274.70   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| DECKERS OUTDOOR CORP          | DECKERS OUTDOOR CORP      | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |     11786 | NS      | $1194746.82   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE INC                | SALESFORCE INC            | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     14539 | NS      | $3445743.00   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINO S PIZZA INC            | DOMINO S PIZZA INC        | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |       938 | NS      | $404943.98    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINL. INC          | AMERIPRISE FINL. INC      | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      1604 | NS      | $787965.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CH ROBINSON WORLDWIDE INC     | CH ROBINSON WORLDWIDE INC | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |      6745 | NS      | $893038.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATL. INFO. SERV     | FIDELITY NATL. INFO. SERV | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     21702 | NS      | $1431029.88   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CROCS INC                     | CROCS INC                 | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |     12499 | NS      | $1044291.45   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC INC                       | PTC INC                   | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |      8689 | NS      | $1764040.78   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INCORPORATED C     | MASTERCARD INCORPORATED C | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      3355 | NS      | $1908357.55   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| EXLSERVICE HLDGS. INC         | EXLSERVICE HLDGS. INC     | CUSIP: 302081104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26505 | NS      | $1167015.15   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORP              | EXXON MOBIL CORP          | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     11084 | NS      | $1249721.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TESLA INC                     | TESLA INC                 | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     13022 | NS      | $5791143.84   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                 | CITIGROUP INC             | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     43538 | NS      | $4419107.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HALOZYME THERAPEUTICS INC     | HALOZYME THERAPEUTICS INC | CUSIP: 40637H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22111 | NS      | $1621620.74   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                         | AECOM                     | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |      6810 | NS      | $888500.70    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| IRIDIUM COMMS. INC            | IRIDIUM COMMS. INC        | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     11233 | NS      | $196128.18    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLS. INC            | MOTOROLA SOLS. INC        | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      1173 | NS      | $536401.17    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DOXIMITY INC                  | DOXIMITY INC              | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23605 | NS      | $1726705.75   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| VERALTO CORP                  | VERALTO CORP              | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               | CORP              | US        |     15934 | NS      | $1698723.74   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORP             | LAM RESEARCH CORP         | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     34225 | NS      | $4582727.50   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO LTD                   | INVESCO LTD               | CUSIP: G491BT108<br>LEI: ECPGFXU8A2SHKVVGJI15 | Long             | EC               | CORP              | BM        |     75265 | NS      | $1726579.10   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                      | VISA INC                  | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      7818 | NS      | $2668908.84   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| NETAPP INC                    | NETAPP INC                | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      6585 | NS      | $780059.10    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLOVIN CORP                 | APPLOVIN CORP             | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      3467 | NS      | $2491178.18   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| GE VERNOVA INC                | GE VERNOVA INC            | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      5972 | NS      | $3672182.80   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISK ANALYTICS INC          | VERISK ANALYTICS INC      | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      5789 | NS      | $1455991.39   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                | AMAZON.COM INC            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     55433 | NS      | $12171423.81  | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC COM                 | ADOBE INC COM             | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      7111 | NS      | $2508405.25   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                     | AMGEN INC                 | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      7962 | NS      | $2246876.40   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                     | APPLE INC                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    105291 | NS      | $26810247.33  | 6.43%             |  |  |  | No            |                  1 | On Loan: No      |
| AVERY DENNISON CORP           | AVERY DENNISON CORP       | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |      5807 | NS      | $941721.19    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GRP. INC/TH     | GOLDMAN SACHS GRP. INC/TH | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       963 | NS      | $766885.05    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MGRS. GRP. INC     | AFFILIATED MGRS. GRP. INC | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |      1049 | NS      | $250113.07    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| LENNOX INTL. INC              | LENNOX INTL. INC          | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |      2564 | NS      | $1357279.04   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CATERPILLAR INC               | CATERPILLAR INC           | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      5942 | NS      | $2835225.30   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO           | JPMORGAN CHASE & CO       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     28654 | NS      | $9038331.22   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MANHATTAN ASSOC. INC          | MANHATTAN ASSOC. INC      | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |      1096 | NS      | $224658.08    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RES. INC                  | EOG RES. INC              | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     11041 | NS      | $1237916.92   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIR ISAAC CORP               | FAIR ISAAC CORP           | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       674 | NS      | $1008661.22   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| FASTENAL CO                   | FASTENAL CO               | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     41325 | NS      | $2026578.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORP                   | EXELON CORP               | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     17583 | NS      | $791410.83    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TERADATA CORP                 | TERADATA CORP             | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |     12145 | NS      | $261238.95    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTA BEAUTY INC               | ULTA BEAUTY INC           | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      1133 | NS      | $619467.75    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC/THE            | HOME DEPOT INC/THE        | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     11046 | NS      | $4475728.74   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX LABS. INC               | IDEXX LABS. INC           | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      3071 | NS      | $1962031.19   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON             | JOHNSON & JOHNSON         | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     11322 | NS      | $2099325.24   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| HARTFORD INSURANCE GROUP      | HARTFORD INSURANCE GROUP  | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     13344 | NS      | $1779956.16   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORP                      | KLA CORP                  | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       907 | NS      | $978290.20    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| KELLANOVA COM USD0.25         | KELLANOVA COM USD0.25     | CUSIP: 487836108<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | EC               | CORP              | US        |     12263 | NS      | $1005811.26   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMBERLY-CLARK CORP           | KIMBERLY-CLARK CORP       | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |     13477 | NS      | $1675730.18   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| LANDSTAR SYSTEM INC           | LANDSTAR SYSTEM INC       | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |      5828 | NS      | $714279.68    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CENCORA INC                   | CENCORA INC               | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      1134 | NS      | $354409.02    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                | MICROSOFT CORP            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     54136 | NS      | $28039741.20  | 6.72%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINL. INC          | PRUDENTIAL FINL. INC      | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |     12092 | NS      | $1254424.08   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWMONT CORP                  | NEWMONT CORP              | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     17577 | NS      | $1481916.87   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE INC                      | NIKE INC                  | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |      7775 | NS      | $542150.75    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM CORP                      | SLM CORP                  | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49358 | NS      | $1366229.44   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCHEX INC                   | PAYCHEX INC               | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |      2881 | NS      | $365195.56    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INC                  | QUALCOMM INC              | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      7951 | NS      | $1322728.36   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| NETFLIX INC                   | NETFLIX INC               | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      3607 | NS      | $4324504.44   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKWELL AUTOMATION INC       | ROCKWELL AUTOMATION INC   | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |       716 | NS      | $250263.48    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI CORP                      | UGI CORP                  | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     43868 | NS      | $1459049.68   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP            | UNION PACIFIC CORP        | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     10632 | NS      | $2513085.84   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| WATERS CORP                   | WATERS CORP               | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |      5102 | NS      | $1529630.62   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOETIS INC                    | ZOETIS INC                | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      5015 | NS      | $733794.80    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADRIDGE FINL. SOLS. IN     | BROADRIDGE FINL. SOLS. IN | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |      7204 | NS      | $1715776.68   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NEW YORK MELLON C     | BANK OF NEW YORK MELLON C | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     20308 | NS      | $2212759.68   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| International Monetary Market | FUT. EMINI S&P DEC25      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        11 | NC      | $3706312.50   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Northern Funds

**Signature:** Randal E. Rein

**Name of Signer:** Randal E. Rein

**Title:** Treasurer and Principal Financial Officer