# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0001752724-25-211816
**Filing Date:** 2025-8
**Character Count:** 37805
**Document Hash:** baff867626f3385781c86aeb75c40de2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211816.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211816

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**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:** 251273745

**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

### Ocean Park Tactical Risk Spectrum 30 Fund (Series ID: S000071866)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000227417 | Ocean Park Tactical Risk Spectrum 30 Fund Instl Class    |  |
| C000227418 | Ocean Park Tactical Risk Spectrum 30 Fund Investor Class |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 59.0%** |  |
|  | **EQUITY - 28.9%** |  |
| 29500 | Avantis International Small Cap Value ETF | &nbsp;&nbsp;&nbsp; $2338760 |
| 7154 | Consumer Staples Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 579259 |
| 70600 | Dimensional International Small Cap Value ETF | &nbsp;&nbsp;&nbsp; 2323446 |
| 53100 | Dimensional International Value ETF | &nbsp;&nbsp;&nbsp; 2274273 |
| 25800 | First Trust Utilities AlphaDEX Fund | &nbsp;&nbsp;&nbsp; 1093404 |
| 28900 | Global X MLP & Energy Infrastructure ETF | &nbsp;&nbsp;&nbsp; 1810874 |
| 42300 | iShares Latin America 40 ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1108683 |
| 43100 | iShares MSCI Australia ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1134392 |
| 39300 | iShares MSCI Brazil ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1133805 |
| 25800 | iShares MSCI Canada ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1191960 |
| 15500 | iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp; 1385545 |
| 25900 | iShares MSCI EAFE Min Vol Factor ETF | &nbsp;&nbsp;&nbsp; 2177154 |
| 47200 | iShares MSCI EAFE Value ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2996256 |
| 26800 | iShares MSCI Germany ETF | &nbsp;&nbsp;&nbsp; 1133908 |
| 63100 | iShares MSCI International Momentum Factor ETF | &nbsp;&nbsp;&nbsp; 2883039 |
| 24000 | iShares MSCI Italy ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1155360 |
| 14700 | iShares MSCI Japan ETF | &nbsp;&nbsp;&nbsp; 1102059 |
| 46700 | iShares MSCI Pacific ex Japan ETF | &nbsp;&nbsp;&nbsp; 2305579 |
| 6900 | iShares U.S. Aerospace & Defense ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1301616 |
| 37200 | iShares US Consumer Goods ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2621856 |
| 176400 | SPDR Portfolio S&P 500 ETF | &nbsp;&nbsp;&nbsp; 12822516 |
| 29200 | Vanguard FTSE Emerging Markets ETF | &nbsp;&nbsp;&nbsp; 1444232 |
| 11000 | Vanguard Mid-Cap Growth ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3128290 |
|  |  | &nbsp;&nbsp; 51446266 |
|  | **FIXED INCOME - 30.1%** |  |
| 93900 | Eldridge BBB-B CLO ETF | &nbsp;&nbsp;&nbsp; 2510886 |
| 54000 | First Trust Senior Loan ETF | &nbsp;&nbsp;&nbsp; 2478060 |
| 552200 | Invesco Senior Loan ETF | &nbsp;&nbsp;&nbsp; 11552024 |
| 20586 | iShares CMBS ETF | &nbsp;&nbsp;&nbsp; 1002950 |
| 60300 | iShares Floating Rate Bond ETF | &nbsp;&nbsp;&nbsp; 3076506 |
| 92500 | iShares J.P. Morgan EM High Yield Bond ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3604725 |
| 39300 | iShares JP Morgan EM Corporate Bond ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1785792 |
| 94200 | PIMCO Multi Sector Bond Active ETF | &nbsp;&nbsp;&nbsp; 2500068 |
| 54500 | SPDR Blackstone Senior Loan ETF | &nbsp;&nbsp;&nbsp; 2266655 |

---

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 59.0% (Continued)** |  |
|  | **FIXED INCOME - 30.1% (Continued)** |  |
| 11600 | Vanguard Intermediate-Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp; $961872 |
| 168300 | Vanguard Total Bond Market ETF | &nbsp;&nbsp;&nbsp; 12391929 |
| 124100 | Vanguard Total International Bond ETF | &nbsp;&nbsp;&nbsp; 6144191 |
| 155200 | Virtus InfraCap U.S. Preferred Stock ETF | &nbsp;&nbsp;&nbsp; 3232816 |
|  |  | &nbsp;&nbsp; 53508474 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $100,651,632)** | &nbsp;&nbsp; 104954740 |
|  | **OPEN END FUNDS — 40.8%** |  |
|  | **ALTERNATIVE - 0.8%** |  |
| 83626 | DoubleLine Flexible Income Fund, Class I | &nbsp;&nbsp;&nbsp; 730887 |
| 68761 | Finisterre Emerging Markets Total Return Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 635354 |
|  |  | &nbsp;&nbsp; 1366241 |
|  | **EQUITY - 0.7%** |  |
| 66789 | Pear Tree Polaris Foreign Value Small Cap Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 1224914 |
| 319 | Thornburg Investment Income Builder Fund, Class I | &nbsp;&nbsp;&nbsp; 9644 |
|  |  | &nbsp;&nbsp; 1234558 |
|  | **FIXED INCOME - 39.3%** |  |
| 113 | American Century High Income Fund, Class I | &nbsp;&nbsp;&nbsp; 987 |
| 675 | Ashmore Emerging Markets Corporate Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 3870 |
| 518 | Ashmore Emerging Markets Total Return Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 2658 |
| 127 | BlackRock Strategic Income Opportunities Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp; 1234 |
| 171 | BlackRock Strategic Municipal Opportunities Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 1738 |
| 70461 | CrossingBridge Low Duration High Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 685909 |
| 113175 | Dodge & Cox Global Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 1260766 |
| 54824 | DoubleLine Low Duration Emerging Markets Fixed, Class I | &nbsp;&nbsp;&nbsp; 530151 |
| 555 | First Eagle Funds - First Eagle High Income Fund, Class I | &nbsp;&nbsp;&nbsp; 4577 |
| 244280 | Holbrook Structured Income Fund, Class I | &nbsp;&nbsp;&nbsp; 2389060 |
| 729877 | JPMorgan Income Fund, Class I | &nbsp;&nbsp;&nbsp; 6269644 |
| 610561 | JPMorgan Mortgage-Backed Securities Fund, Class I | &nbsp;&nbsp;&nbsp; 6258247 |
| 1407 | Medalist Partners MBS Total Return Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 12145 |
| 195 | Metropolitan West Total Return Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 1773 |
| 314 | Nuveen Bond Index Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 3043 |
| 238 | Nuveen High Yield Municipal Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 3335 |

---

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **OPEN END FUNDS — 40.8% (Continued)** |  |
|  | **FIXED INCOME - 39.3% (Continued)** |  |
| 120 | Nuveen Preferred Securities Fund, Class I | &nbsp;&nbsp;&nbsp; $1889 |
| 166 | Nuveen Short Duration High Yield Municipal Bond, Class I | &nbsp;&nbsp;&nbsp; 1564 |
| 184 | Nuveen Strategic Income Fund, Class I | &nbsp;&nbsp;&nbsp; 1818 |
| 421194 | PIMCO Global Bond Opportunities Fund U.S., Institutional Class | &nbsp;&nbsp;&nbsp; 4106644 |
| 1961771 | PIMCO Income Fund, Institutional Class, Institutional Class | &nbsp;&nbsp;&nbsp; 21128268 |
| 755422 | PIMCO International Bond Fund U.S. Dollar-Hedged, Institutional Class | &nbsp;&nbsp;&nbsp; 7508892 |
| 728644 | PIMCO International Bond Fund Unhedged, Institutional Class | &nbsp;&nbsp;&nbsp; 5836436 |
| 824 | PIMCO Investment Grade Credit Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 7492 |
| 164 | PIMCO Total Return Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 1425 |
| 409556 | Principal Spectrum Preferred and Capital Securities Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 3800676 |
| 110889 | RiverPark Strategic Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 961827 |
| 148 | TCW Emerging Markets Income Fund, Class I | &nbsp;&nbsp;&nbsp; 984 |
| 1 | TCW Emerging Markets Local Currency Income Fund, Class I | &nbsp;&nbsp;&nbsp; 9 |
| 1 | TCW Securitized Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 9 |
| 808338 | Thornburg Strategic Income Fund, Class I | &nbsp;&nbsp;&nbsp; 9295885 |
|  |  | &nbsp;&nbsp; 70082955 |
|  | **TOTAL OPEN END FUNDS (Cost $71,409,107)** | &nbsp;&nbsp; 72683754 |

---

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 30 FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENTS — 8.2%** |  |
|  | **COLLATERAL FOR SECURITIES LOANED - 7.9%** |  |
| 14134839 | First American Government Obligations Fund, Class X, 4.25% <sup>(b)(c)</sup> **(Cost $14,134,839)** | &nbsp;&nbsp;&nbsp; $14134839 |
|  | **MONEY MARKET FUND - 0.3%** |  |
| 503931 | First American Government Obligations Fund, Class X, 4.25% <sup>(c)</sup> **(Cost $503,931)** | &nbsp;&nbsp;&nbsp; 503931 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $14,638,770)** | 14638770 |
|  | **TOTAL INVESTMENTS - 108.0% (Cost $186,699,509)** | &nbsp;&nbsp;&nbsp; $192277264 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (8.0)%** | &nbsp;&nbsp; (14261213) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $178016051 |

---

---

| | |
|:---|:---|
| CLO | - Collateralized Loan Obligation |
| CMBS | - Commercial Mortgage-Backed Securities |
| EAFE | - Europe, Australasia and Far East |
| ETF | - Exchange-Traded Fund |
| MLP | - Master Limited Partnership |
| MSCI | - Morgan Stanley Capital International |
| SPDR | - Standard & Poor's Depositary Receipt |
| <sup>(a)</sup> | All or a portion of the security is on loan. The total value of the securities on loan was $13,904,032, as of June 30, 2025. |
| <sup>(b)</sup> | Security was purchased with cash received as collateral for securities on loan at June 30, 2025. Total collateral had a value of $14,134,839 at June 30, 2025. |
| <sup>(c)</sup> | Rate disclosed is the seven day effective yield as of June 30, 2025. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Northern Lights Fund Trust

- **b. Investment Company Act file number:** 811-21720

- **c. CIK number of Registrant:** 0001314414

- **d. LEI of Registrant:** 549300BSYF57GRCG4861

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

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 631-470-2600

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

- **a. Name of Series:** Ocean Park Tactical Risk Spectrum 30 Fund

- **b. EDGAR series identifier (if any):** S000071866

- **c. LEI of Series:** 549300PZSS13SKIR2I74

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

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

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $178441336.26

**Total Liabilities:** $425285.20

**Net Assets:** $178016051.06

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227418 | -2.22%               | 1.25%                | 1.92%                |
| Class ID C000227417 | -2.18%               | 1.29%                | 1.97%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-6384307.65             | $1783055.85                                |
| Month 2  | $368959.29               | $1488415.45                                |
| Month 3  | $117212.15               | $2401608.31                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Thornburg Investment Trust                       | THRNB-STR IN-I            | CUSIP: 885215194<br>LEI: 5493001XM52H8S4WYY82 | Long             | EC               | RF                | US        |    804944 | NS      | $9256860.97   | 5.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Dimensional ETF Trust                            | DI INTL S-C V ET          | CUSIP: 25434V781<br>LEI: 549300TQ0DPO13B72F34 | Long             | EC               | RF                | US        |     70600 | NS      | $2323446.00   | 1.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES J.P. MOR          | CUSIP: 464286285<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     92500 | NS      | $3604725.00   | 2.02%             |  |  |  | No            | 1                  | On Loan: —       |
| Trust For Professional Managers                  | RVRP-STR INC-INS          | CUSIP: 89834G679<br>LEI: 549300O1N816L3GGRD45 | Long             | EC               | RF                | US        |    110233 | NS      | $956160.55    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series | PIMCO-T/R-INS             | CUSIP: 693390700<br>LEI: N/A                  | Long             | EC               | RF                | US        |       164 | NS      | $1420.16      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds                                      | PIMCO-INCOME-INS          | CUSIP: 72201F490<br>LEI: N/A                  | Long             | EC               | RF                | US        |   1951803 | NS      | $21020919.74  | 11.81%            |  |  |  | No            | 1                  | On Loan: No      |
| Dodge & Cox Funds                                | D&C-GL BND -I             | CUSIP: 256206301<br>LEI: 549300R3H2V5UI5MR803 | Long             | EC               | RF                | US        |    113175 | NS      | $1260765.62   | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Trust For Professional Managers                  | CROSB L D HI-INS          | CUSIP: 89834G604<br>LEI: 549300O1N816L3GGRD45 | Long             | EC               | RF                | US        |     70108 | NS      | $682477.71    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Bond Index Funds                        | VANGUARD TOTAL B          | CUSIP: 921937835<br>LEI: 549300INE5BF80OGAZ51 | Long             | EC               | RF                | US        |    168300 | NS      | $12391929.00  | 6.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Thornburg Investment Trust                       | THRNB-INC BLD-I           | CUSIP: 885215467<br>LEI: 5493001XM52H8S4WYY82 | Long             | EC               | RF                | US        |       319 | NS      | $9643.74      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI EAF          | CUSIP: 46429B689<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     25900 | NS      | $2177154.00   | 1.22%             |  |  |  | No            | 1                  | On Loan: No      |
| American Century ETF Trust                       | AVANTIS INTL S/C          | CUSIP: 025072802<br>LEI: 5493006IKK34YJD98183 | Long             | EC               | RF                | US        |     29500 | NS      | $2338760.00   | 1.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Doubleline Funds Trust                           | DBL-FLX INC-I             | CUSIP: 258620798<br>LEI: 549300MUFFXFRMY0RH66 | Long             | EC               | RF                | US        |     83224 | NS      | $727380.62    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Charlotte Funds                         | VANGUARD INTL BD          | CUSIP: 92203J407<br>LEI: 549300Z9BHDBGHMJLU94 | Long             | EC               | RF                | US        |    124100 | NS      | $6144191.00   | 3.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI AUS          | CUSIP: 464286103<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     43100 | NS      | $1134392.00   | 0.64%             |  |  |  | No            | 1                  | On Loan: —       |
| First Trust Exchange-Traded Fund IV              | FT-SENIOR LOAN            | CUSIP: 33738D309<br>LEI: 5493006CBTW7P2B31B80 | Long             | EC               | RF                | US        |     54000 | NS      | $2478060.00   | 1.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Ashmore Funds                                    | ASHM-EM T/R-INS           | CUSIP: 044820405<br>LEI: N/A                  | Long             | EC               | RF                | US        |       518 | NS      | $2657.51      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI EAF          | CUSIP: 464288877<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     47200 | NS      | $2996256.00   | 1.68%             |  |  |  | No            | 1                  | On Loan: —       |
| Vanguard Scottsdale Funds                        | VANGUARD INT TER          | CUSIP: 92206C870<br>LEI: 549300Y88GQ3VLJIBX57 | Long             | EC               | RF                | US        |     11600 | NS      | $961872.00    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Ssga Active Etf Trust                            | SPDR BLACKSTONE           | CUSIP: 78467V608<br>LEI: 549300MAXSRPQ75ICU67 | Long             | EC               | RF                | US        |     54500 | NS      | $2266655.00   | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Dimensional ETF Trust                            | DIM INTL VALUE            | CUSIP: 25434V807<br>LEI: 549300TQ0DPO13B72F34 | Long             | EC               | RF                | US        |     53100 | NS      | $2274273.00   | 1.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Invesco Exchange Traded Fund Trust II            | INVESCO SENIOR L          | CUSIP: 46138G508<br>LEI: O540V2L4S174Y60FMD36 | Long             | EC               | RF                | US        |    552200 | NS      | $11552024.00  | 6.49%             |  |  |  | No            | 1                  | On Loan: No      |
| First Eagle Funds                                | FIRST EAGLE HIGH YIELD-I  | CUSIP: 32008F713<br>LEI: 549300FE2F4XF7FZN136 | Long             | EC               | RF                | US        |       553 | NS      | $4555.50      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ashmore Funds                                    | ASHM-E/M CRP-INS          | CUSIP: 044820504<br>LEI: N/A                  | Long             | EC               | RF                | US        |       675 | NS      | $3870.26      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| JP Morgan Trust I                                | JPM IMCOME-I              | CUSIP: 46637K224<br>LEI: 549300DM5WZMCZZ70R78 | Long             | EC               | RF                | US        |    726268 | NS      | $6238645.02   | 3.50%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series | PIMCO-IN B $-INS          | CUSIP: 693390882<br>LEI: N/A                  | Long             | EC               | RF                | US        |    752599 | NS      | $7480835.21   | 4.20%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES CMBS ETF          | CUSIP: 46429B366<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     20586 | NS      | $1002949.92   | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES LATIN AM          | CUSIP: 464287390<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     42300 | NS      | $1108683.00   | 0.62%             |  |  |  | No            | 1                  | On Loan: —       |
| N/A                                              | FIRST AM GOVT OB FD CL X  | CUSIP: 31846V336<br>LEI: N/A                  | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI INT          | CUSIP: 46434V449<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     63100 | NS      | $2883039.00   | 1.62%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI EAF          | CUSIP: 464287465<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     15500 | NS      | $1385545.00   | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Advisors Series Trust                            | MDL-MBS T/R-INS           | CUSIP: 00770X758<br>LEI: 2549003Z0J6URS6I4Y63 | Long             | EC               | RF                | US        |      1400 | NS      | $12083.81     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Funds V                                | BLKR-STR INC-INS          | CUSIP: 09260B382<br>LEI: 54930077DSFQPJDWM487 | Long             | EC               | RF                | US        |       127 | NS      | $1228.91      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI PAC          | CUSIP: 464286665<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     46700 | NS      | $2305579.00   | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                         | SPDR-CONS STAPLE          | CUSIP: 81369Y308<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      7154 | NS      | $579259.38    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| American Century Investment Trust                | AC-HI INC-Y               | CUSIP: 024932154<br>LEI: 549300RGSU9J1L1HFF90 | Long             | EC               | RF                | US        |       113 | NS      | $981.75       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Pear Tree Funds                                  | PEAR TREE POL-F/V SM CAP- | CUSIP: 70472Q500<br>LEI: 549300NANVEIFBMHLV32 | Long             | EC               | RF                | US        |     66789 | NS      | $1224914.46   | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI JPN          | CUSIP: 46434G822<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     14700 | NS      | $1102059.00   | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO ETF Trust                                  | PIMCO MULTI SECT          | CUSIP: 72201R585<br>LEI: 5493004M9TBGFQUJ6D27 | Long             | EC               | RF                | US        |     94200 | NS      | $2500068.00   | 1.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Principal Funds Inc                              | PRIN-PR & CA-INS          | CUSIP: 74253Q416<br>LEI: 549300HZGBXSW6DSXF23 | Long             | EC               | RF                | US        |    409556 | NS      | $3800676.24   | 2.14%             |  |  |  | No            | 1                  | On Loan: No      |
| JP Morgan Trust Ii                               | JPMORGAN MTGE BACK SEC-R6 | CUSIP: 4812C0159<br>LEI: 549300IMXLYKELY96B40 | Long             | EC               | RF                | US        |    610561 | NS      | $6264353.07   | 3.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Tcw Funds Inc                                    | TCW SECURITIZED           | CUSIP: 87234N880<br>LEI: 54930078E2I2DS4UJ217 | Long             | EC               | RF                | US        |         1 | NS      | $9.01         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Municipal                                 | NVN-H/Y MUN-I             | CUSIP: 67065Q772<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |       237 | NS      | $3318.73      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Series Portfolios Trust                          | ELD BBB-B CL ETF          | CUSIP: 81752T528<br>LEI: 5493008VNHP5UNYJ3713 | Long             | EC               | RF                | US        |     93900 | NS      | $2510886.00   | 1.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Investments Trust V                       | NVN-PREF SEC-I            | CUSIP: 670700400<br>LEI: 5493005YOHPRCB8M2Y83 | Long             | EC               | RF                | US        |       119 | NS      | $1879.22      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tcw Funds Inc                                    | TCW-EMMK L/C I-I          | CUSIP: 872365309<br>LEI: 54930078E2I2DS4UJ217 | Long             | EC               | RF                | US        |         1 | NS      | $8.62         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Tcw Funds Inc                                    | TCW EMERGING MAR          | CUSIP: 87234N765<br>LEI: 54930078E2I2DS4UJ217 | Long             | EC               | RF                | US        |       147 | NS      | $979.38       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Global X Funds                                   | GLOBAL X MLP & E          | CUSIP: 37954Y293<br>LEI: 5493003RA4QUTSYF1N15 | Long             | EC               | RF                | US        |     28900 | NS      | $1810874.00   | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| ETFis Series Trust I                             | VIRTUS INFRA ETF          | CUSIP: 26923G822<br>LEI: 5493002CWTVLBPSYFT98 | Long             | EC               | RF                | US        |    155200 | NS      | $3232816.00   | 1.82%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series | PIMCO-IN B U-INS          | CUSIP: 722005220<br>LEI: N/A                  | Long             | EC               | RF                | US        |    726071 | NS      | $5815828.81   | 3.27%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES FLOATING          | CUSIP: 46429B655<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     60300 | NS      | $3076506.00   | 1.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Metropolitan West Funds                          | MW-T/R BND-I              | CUSIP: 592905509<br>LEI: 549300KGDNJW6FXNDC82 | Long             | EC               | RF                | US        |       194 | NS      | $1767.50      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Municipal Series Trust                 | BLRK-STR MUN-I            | CUSIP: 09253E609<br>LEI: N13FNQG6SVW6WDIWRJ75 | Long             | EC               | RF                | US        |       170 | NS      | $1731.66      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Two Roads Shared Trust                           | HLBRK-STR IN-I            | CUSIP: 90214Q626<br>LEI: 549300REHU8QC2CK4V30 | Long             | EC               | RF                | US        |    242846 | NS      | $2375038.68   | 1.33%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series | PIMCO-I/G CR-INS          | CUSIP: 722005816<br>LEI: N/A                  | Long             | EC               | RF                | US        |       821 | NS      | $7464.15      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| First Trust Exchange-Traded Fund II              | FIRST TRUST UTILITIES ALP | CUSIP: 33734X184<br>LEI: N/A                  | Long             | EC               | RF                | US        |     25800 | NS      | $1093404.00   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES US CONSUMER GOODS | CUSIP: 464287812<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     37200 | NS      | $2621856.00   | 1.47%             |  |  |  | No            | 1                  | On Loan: —       |
| Nuveen Core Bond Fund                            | NUVEEN BOND INDE          | CUSIP: 87245M848<br>LEI: 549300L8R42TEBN5NG46 | Long             | EC               | RF                | US        |       313 | NS      | $3033.54      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI BRA          | CUSIP: 464286400<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     39300 | NS      | $1133805.00   | 0.64%             |  |  |  | No            | 1                  | On Loan: —       |
| Ishares Inc                                      | ISHARES MSCI CAN          | CUSIP: 464286509<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     25800 | NS      | $1191960.00   | 0.67%             |  |  |  | No            | 1                  | On Loan: —       |
| Ishares Inc                                      | ISHARES MSCI GER          | CUSIP: 464286806<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     26800 | NS      | $1133908.00   | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Series Trust                                | SPDR PORT SP 500          | CUSIP: 78464A854<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    176400 | NS      | $12822516.00  | 7.20%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series | PIMCO-GL B $-INS          | CUSIP: 693390130<br>LEI: N/A                  | Long             | EC               | RF                | US        |    419466 | NS      | $4089797.56   | 2.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Principal Funds Inc                              | PRIN-FI EM T-INS          | CUSIP: 74255L175<br>LEI: 549300HZGBXSW6DSXF23 | Long             | EC               | RF                | US        |     68761 | NS      | $635354.28    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES U.S. AER          | CUSIP: 464288760<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      6900 | NS      | $1301616.00   | 0.73%             |  |  |  | No            | 1                  | On Loan: —       |
| Nuveen Municipal                                 | NVN-SH DUR HY-I           | CUSIP: 67065Q699<br>LEI: 549300D2RECSQKX7NC33 | Long             | EC               | RF                | US        |       165 | NS      | $1557.25      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard International Equity Index Funds        | VANGUARD FTSE EM          | CUSIP: 922042858<br>LEI: 549300UR5XWDVDO7NP96 | Long             | EC               | RF                | US        |     29200 | NS      | $1444232.00   | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Index Funds                             | VANGUARD M/C GRW          | CUSIP: 922908538<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |     11000 | NS      | $3128290.00   | 1.76%             |  |  |  | No            | 1                  | On Loan: —       |
| Doubleline Funds Trust                           | DBL-LW DR EM-I            | CUSIP: 258620772<br>LEI: 549300MUFFXFRMY0RH66 | Long             | EC               | RF                | US        |     54594 | NS      | $527923.89    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES JP MORGA          | CUSIP: 464286251<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     39300 | NS      | $1785792.00   | 1.00%             |  |  |  | No            | 1                  | On Loan: —       |
| Nuveen Investment Funds                          | NVN-STR INC-I             | CUSIP: 670678390<br>LEI: T3MQBTRBVMWQY3LBIL50 | Long             | EC               | RF                | US        |       183 | NS      | $1808.11      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| First American Funds Inc.                        | FRST AM-GV OB-X           | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    503931 | PA      | $503930.66    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI ITA          | CUSIP: 46434G830<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     24000 | NS      | $1155360.00   | 0.65%             |  |  |  | No            | 1                  | On Loan: —       |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** Northern Lights Fund Trust

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Treasurer