# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0001752724-25-131808
**Filing Date:** 2025-6
**Character Count:** 31656
**Document Hash:** a514544923328a5fe9f8c7fc2509ed35
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-131808.hdr.sgml**: 20250604

**ACCESSION NUMBER**: 0001752724-25-131808

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250604

**DATE AS OF CHANGE**: 20250604

**PERIOD START**: 20251031

**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:** 251022464

**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

### Navigator Ultra Short Bond Fund (Series ID: S000064812)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000209835 | Navigator Ultra Short Bond Fund Class A | NUSAX           |
| C000209836 | Navigator Ultra Short Bond Fund Class I | NUSIX           |

## 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:** Navigator Ultra Short Bond Fund

- **b. EDGAR series identifier (if any):** S000064812

- **c. LEI of Series:** 549300BWD81JQHWWQ219

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $76138772.43

**Total Liabilities:** $1533151.75

**Net Assets:** $74605620.68

**Cash Not Reported:** $12366.45

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 3013.93899900 | **1-Year:** 1050.09647500 | **5-Year:** 1.29103500 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 5.05562500 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000209835 | 0.29%                | 0.37%                | 0.29%                |
| Class ID C000209836 | 0.40%                | 0.31%                | 0.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $23991.45                | $-23849.34                                 |
| Month 2  | $11694.38                | $-20210.28                                 |
| Month 3  | $6774.18                 | $-50728.98                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| The Allstate Corporation                                                             | ALL 0 3/4 12/15/25    | CUSIP: 020002BH3<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    913000 | PA      | $891690.96    | 1.20%             | 2025-12-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Altria Group, Inc.                                                                   | MO 2.35 05/06/25      | CUSIP: 02209SBH5<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1499420.40   | 2.01%             | 2025-05-06      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Amcor Flexibles North America Inc                                                    | AMCR 4 05/17/25       | CUSIP: 02343JAA8<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999227.30    | 1.34%             | 2025-05-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| American Express Company                                                             | AXP 6.338 10/30/26    | CUSIP: 025816DL0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1008954.90   | 1.35%             | 2026-10-30      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corporation                                                   | HNDA Float 08/14/25   | CUSIP: 02665WFB2<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1500411.53   | 2.01%             | 2025-08-14      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Autozone, Inc.                                                                       | AZO 3 1/8 04/21/26    | CUSIP: 053332AT9<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $986253.83    | 1.32%             | 2026-04-21      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| BMW US Capital, LLC                                                                  | BMW Float 03/19/27    | CUSIP: 05565ECV5<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998080.45    | 1.34%             | 2027-03-19      | Floating      | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC 1.319 06/19/26    | CUSIP: 06051GJD2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995307.62    | 1.33%             | 2026-06-19      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                                | BAC 1.197 10/24/26    | CUSIP: 06051GJK6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    970000 | PA      | $953932.99    | 1.28%             | 2026-10-24      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Biogen Inc                                                                           | BIIB 4.05 09/15/25    | CUSIP: 09062XAF0<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $996590.78    | 1.34%             | 2025-09-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Block Financial Llc                                                                  | HRB 5 1/4 10/01/25    | CUSIP: 093662AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000677.32   | 1.34%             | 2025-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| The Boeing Company                                                                   | BA 2.196 02/04/26     | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $979889.68    | 1.31%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                                                      | CVS 3 7/8 07/20/25    | CUSIP: 126650CL2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998045.70    | 1.34%             | 2025-07-20      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 4.908 07/23/25   | CUSIP: 161175AY0<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998655.59    | 1.34%             | 2025-07-23      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Chevron USA Inc                                                                      | CVX Float 02/26/27    | CUSIP: 166756BA3<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998116.42    | 1.34%             | 2027-02-26      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| Citibank, N.A.                                                                       | C Float 04/30/26      | CUSIP: 17325FBE7<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997907.86    | 1.34%             | 2026-04-30      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                             | HCA 7.69 06/15/25     | CUSIP: 197677AG2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1091000 | PA      | $1093625.96   | 1.47%             | 2025-06-15      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| Conagra Brands Inc                                                                   | CAG 4.6 11/01/25      | CUSIP: 205887CB6<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999131.83    | 1.34%             | 2025-11-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank U.A. New York Branch                                           | RABOBK Float 08/28/26 | CUSIP: 21688ABG6<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $1001365.16   | 1.34%             | 2026-08-28      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| D.R. Horton, Inc.                                                                    | DHI 2.6 10/15/25      | CUSIP: 23331ABN8<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | DBT              | CORP              | US        |   1435000 | PA      | $1421566.92   | 1.91%             | 2025-10-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Dupont De Nemours Inc                                                                | DD 4.493 11/15/25     | CUSIP: 26078JAC4<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1996740.78   | 2.68%             | 2025-11-15      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| Dreyfus Treasury Obligations Cash Management                                         | DREY-T O C/M-INS      | CUSIP: 261908107<br>LEI: 549300MKKM9KT7BF6329 | Long             | STIV             | RF                | US        |   3259917 | PA      | $3259917.15   | 4.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                                                                     | DUK 0.9 09/15/25      | CUSIP: 26441CBJ3<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $986158.49    | 1.32%             | 2025-09-15      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc.                                                                 | ELV 4.9 02/08/26      | CUSIP: 28622HAA9<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000083.39   | 1.34%             | 2026-02-08      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Enbridge Energy Partners L.P.                                                        | ENBCN 5 7/8 10/15/25  | CUSIP: 29250RAW6<br>LEI: CZ6VG2MNE1J6YDI02G48 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1002138.33   | 1.34%             | 2025-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                                   | ET 2.9 05/15/25       | CUSIP: 29278NAP8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999218.18    | 1.34%             | 2025-05-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Entergy Corporation                                                                  | ETR 0.9 09/15/25      | CUSIP: 29364GAM5<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $985888.39    | 1.32%             | 2025-09-15      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                        | F Float 11/05/26      | CUSIP: 345397F99<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $982333.94    | 1.32%             | 2026-11-05      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                                        | F 4.134 08/04/25      | CUSIP: 345397XL2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995536.51    | 1.33%             | 2025-08-04      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Fortinet Inc                                                                         | FTNT 1 03/15/26       | CUSIP: 34959EAA7<br>LEI: 549300O0QJWDBAS0QX03 | Long             | DBT              | CORP              | US        |   1141000 | PA      | $1105960.92   | 1.48%             | 2026-03-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Fortune Brands Innovations Inc                                                       | FBHS 4 06/15/25       | CUSIP: 34964CAA4<br>LEI: 54930032LHW54PQUJD44 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998393.63    | 1.34%             | 2025-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GE Healthcare Technologies Inc.                                                      | GEHC 5.6 11/15/25     | CUSIP: 36267VAD5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004684.82   | 1.35%             | 2025-11-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company  Inc                                                | GM 1 1/4 01/08/26     | CUSIP: 37045XDD5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $975476.79    | 1.31%             | 2026-01-08      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| GlaxoSmithKline Capital PLC                                                          | GSK Float 03/12/27    | CUSIP: 377373AN5<br>LEI: 549300U0LV41VX7LEP38 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $999019.01    | 1.34%             | 2027-03-12      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                                            | GS 5.798 08/10/26     | CUSIP: 38145GAM2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1002478.49   | 1.34%             | 2026-08-10      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| HP Inc                                                                               | HPQ 2.2 06/17/25      | CUSIP: 40434LAA3<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $996402.10    | 1.34%             | 2025-06-17      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                                              | HYNMTR Float 03/25/27 | CUSIP: 44891ADS3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $994641.01    | 1.33%             | 2027-03-25      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| International Flavors & Fragrances Inc.                                              | IFF 1.23 10/01/25     | CUSIP: 459506AN1<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $982108.61    | 1.32%             | 2025-10-01      | Fixed         | 1.23%                 | Yes           |                  2 | On Loan: No      |
| Jefferies Financial Group Inc                                                        | JEF 5.03 03/16/26     | CUSIP: 47233WJG5<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1002546.75   | 1.34%             | 2026-03-16      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International PLC                                                   | JCI 3.9 02/14/26      | CUSIP: 478375AR9<br>LEI: 549300XQ6S1GYKGBL205 | Long             | DBT              | CORP              | IE        |   1139000 | PA      | $1130209.56   | 1.51%             | 2026-02-14      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Juniper Networks, Inc.                                                               | JNPR 1.2 12/10/25     | CUSIP: 48203RAN4<br>LEI: AUHIXNGG7U2U7JEHM527 | Long             | DBT              | CORP              | US        |   1311000 | PA      | $1284798.17   | 1.72%             | 2025-12-10      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Kellanova                                                                            | K 3 1/4 04/01/26      | CUSIP: 487836BP2<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | DBT              | CORP              | US        |   1348000 | PA      | $1333374.15   | 1.79%             | 2026-04-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Keurig Dr Pepper Inc                                                                 | KDP Float 11/15/26    | CUSIP: 49271VAY6<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1501352.54   | 2.01%             | 2026-11-15      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Kinder Morgan, Inc.                                                                  | KMI 4.3 06/01/25      | CUSIP: 49456BAF8<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999304.10    | 1.34%             | 2025-06-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Lennar Corp.                                                                         | LEN 4 3/4 05/30/25    | CUSIP: 526057BV5<br>LEI: 529900G61XVRLX5TJX09 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999871.09    | 1.34%             | 2025-05-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                                                                | LOW 4.8 04/01/26      | CUSIP: 548661EP8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1002281.18   | 1.34%             | 2026-04-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Marathon Petroleum Corp.                                                             | MPC 4.7 05/01/25      | CUSIP: 56585ABH4<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000000.00   | 1.34%             | 2025-05-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| McCormick & Company, Incorporated                                                    | MKC 3 1/4 11/15/25    | CUSIP: 579780AK3<br>LEI: 549300JQQA6MQ4OJP259 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $992696.69    | 1.33%             | 2025-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Finance North America LLC                                              | MBGGR Float 04/01/27  | CUSIP: 58769JBD8<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $996124.74    | 1.34%             | 2027-04-01      | Floating      | 5.13%                 | Yes           |                  2 | On Loan: No      |
| Mondelez International, Inc.                                                         | MDLZ 1 1/2 05/04/25   | CUSIP: 609207AU9<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |   1272000 | PA      | $1271574.30   | 1.70%             | 2025-05-04      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                       | MS 0.985 12/10/26     | CUSIP: 6174468V4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $977604.97    | 1.31%             | 2026-12-10      | Fixed         | 0.98%                 | No            |                  2 | On Loan: No      |
| Nasdaq Inc                                                                           | NDAQ 5.65 06/28/25    | CUSIP: 63111XAG6<br>LEI: 549300L8X1Q78ERXFD06 | Long             | DBT              | CORP              | US        |    800000 | PA      | $801017.88    | 1.07%             | 2025-06-28      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                                        | NFLX 3 5/8 06/15/25   | CUSIP: 64110LAY2<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998103.42    | 1.34%             | 2025-06-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Plains All American Pipeline L.P.                                                    | PAA 4.65 10/15/25     | CUSIP: 72650RBJ0<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998466.73    | 1.34%             | 2025-10-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Range Resources Corp.                                                                | RRC 4 7/8 05/15/25    | CUSIP: 75281AAS8<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1250046.88   | 1.68%             | 2025-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Reliance Inc                                                                         | RS 1.3 08/15/25       | CUSIP: 759509AF9<br>LEI: 549300E287ZOFT3C5Z56 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $989787.16    | 1.33%             | 2025-08-15      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| Reynolds American Inc.                                                               | BATSLN 4.45 06/12/25  | CUSIP: 761713BG0<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999481.87    | 1.34%             | 2025-06-12      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Royalty Pharma PLC                                                                   | RPRX 1.2 09/02/25     | CUSIP: 78081BAH6<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $987483.38    | 1.32%             | 2025-09-02      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Sprint LLC                                                                           | S 7 5/8 03/01/26      | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1519655.76   | 2.04%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software Inc.                                                   | TTWO 5 03/28/26       | CUSIP: 874054AJ8<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |   1680000 | PA      | $1684900.54   | 2.26%             | 2026-03-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                                                            | TD Float 10/10/25     | CUSIP: 89115A2Z4<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1000314.09   | 1.34%             | 2025-10-10      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| VMware LLC                                                                           | VMW 4 1/2 05/15/25    | CUSIP: 928563AD7<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999521.75    | 1.34%             | 2025-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                                              | VW 3.35 05/13/25      | CUSIP: 928668BE1<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1139480.32   | 1.53%             | 2025-05-13      | Fixed         | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                                              | VW Float 03/20/26     | CUSIP: 928668CD2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999961.18    | 1.34%             | 2026-03-20      | Floating      | 5.18%                 | Yes           |                  2 | On Loan: No      |
| Walmart Inc                                                                          | WMT Float 04/28/27    | CUSIP: 931142FM0<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1502666.54   | 2.01%             | 2027-04-28      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Wabtec Corp                                                                          | WAB 3.2 06/15/25      | CUSIP: 960386AQ3<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |   1209000 | PA      | $1206289.69   | 1.62%             | 2025-06-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Weyerhaeuser Company                                                                 | WY 4 3/4 05/15/26     | CUSIP: 962166CC6<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1251638.71   | 1.68%             | 2026-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-28

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

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Treasurer