# EDGAR Filing Document

**Accession Number:** 0000916620
**File Stem:** 0002066578-26-001905
**Filing Date:** 2026-5
**Character Count:** 10106
**Document Hash:** 1263037cc9901620a3a674396bb22798
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-26-001905.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0002066578-26-001905

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**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:** 261034948

**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

### GLOBAL TACTICAL ASSET ALLOCATION FUND (Series ID: S000033427)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000102783 | GLOBAL TACTICAL ASSET ALLOCATION FUND | BBALX           |

## 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:** Global Tactical Asset Allocation Fund

- **b. EDGAR series identifier (if any):** S000033427

- **c. LEI of Series:** 549300TZ6VVW0ZMZ6X65

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

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

- **b. Date as of which information is reported:** 2026-03-31

**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:** $79972440.05

**Total Liabilities:** $34977.47

**Net Assets:** $79937462.58

**Cash Not Reported:** $0.02

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000102783 | 2.23%                | 2.44%                | -4.54%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-16745.76               | $1815557.35                                |
| Month 2  | $128087.18               | $1721529.28                                |
| Month 3  | $334913.34               | $-4244815.37                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NI US GOV T PORTFOLIO     | NI US GOV T PORTFOLIO     | CUSIP: 665278404<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   3835957 | NS      | $3835957.27   | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED STATES TSY. 0.00%  | UNITED STATES TSY. 0.00%  | CUSIP: 912797SP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     51000 | PA      | $50814.23     | 0.06%             | 2026-05-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN FIXED INC. FUND  | NORTHERN FIXED INC. FUND  | CUSIP: 665162806<br>LEI: 5493004ZY1PEJR3C0A81 | Long             | EC               | RF                | US        |    838325 | PA      | $7503008.10   | 9.39%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN HIGH YLD. FIXED  | NORTHERN HIGH YLD. FIXED  | CUSIP: 665162699<br>LEI: 5493004ZY1PEJR3C0A81 | Long             | EC               | RF                | US        |    246309 | PA      | $1480319.06   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NF INTL EQUITY INDEX      | NF INTL EQUITY INDEX      | CUSIP: 665130209<br>LEI: 549300L9EM1GT0ES4W02 | Long             | EC               | RF                | US        |    223516 | NS      | $3960697.50   | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN STOCK INDEX INC  | NORTHERN STOCK INDEX INC  | CUSIP: 665162772<br>LEI: 5493004ZY1PEJR3C0A81 | Long             | EC               | RF                | US        |    197777 | NS      | $12855475.69  | 16.08%            |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES 3-7 YEAR TSY. BD. | ISHARES 3-7 YEAR TSY. BD. | CUSIP: 464288661<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     47988 | NS      | $5691376.80   | 7.12%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEXSHARES US QUALITY LOW | FLEXSHARES US QUALITY LOW | CUSIP: 33939L654<br>LEI: 5493007FU2RQX77I4604 | Long             | EC               | RF                | US        |     72722 | NS      | $5227984.58   | 6.54%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN SMALL CAP C INC  | NORTHERN SMALL CAP C INC  | CUSIP: 665162293<br>LEI: 5493004ZY1PEJR3C0A81 | Long             | EC               | RF                | US        |     85945 | NS      | $2122833.92   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEXSHARES IBOXX 5-YEAR T | FLEXSHARES IBOXX 5-YEAR T | CUSIP: 33939L605<br>LEI: 5493007FU2RQX77I4604 | Long             | EC               | RF                | US        |     64503 | NS      | $1555167.33   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES 7-10 YEAR TSY. BD | ISHARES 7-10 YEAR TSY. BD | CUSIP: 464287440<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     22485 | NS      | $2145968.40   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEXSHARES TR MORNING     | FLEXSHARES TR MORNING     | CUSIP: 33939L803<br>LEI: 5493007FU2RQX77I4604 | Long             | EC               | RF                | US        |     31908 | NS      | $2998959.53   | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEXSHARES DEVD. MKTS. EX | FLEXSHARES DEVD. MKTS. EX | CUSIP: 33939L647<br>LEI: 5493007FU2RQX77I4604 | Long             | EC               | RF                | US        |    154506 | NS      | $5069388.21   | 6.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES EXPANDED TECH-SOF | ISHARES EXPANDED TECH-SOF | CUSIP: 464287515<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     16023 | NS      | $1282641.15   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEXSHARES MORNINGSTAR GB | FLEXSHARES MORNINGSTAR GB | CUSIP: 33939L407<br>LEI: 5493007FU2RQX77I4604 | Long             | EC               | RF                | US        |     10274 | NS      | $566713.84    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEXSHARES TR MORNING     | FLEXSHARES TR MORNING     | CUSIP: 33939L308<br>LEI: 5493007FU2RQX77I4604 | Long             | EC               | RF                | US        |     92428 | NS      | $6211928.75   | 7.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES 20+ YEAR TSY. BD. | ISHARES 20+ YEAR TSY. BD. | CUSIP: 464287432<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     21018 | NS      | $1822050.42   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES MBS ETF           | ISHARES MBS ETF           | CUSIP: 464288588<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     29363 | NS      | $2788016.85   | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEXSHARES TR MORNING     | FLEXSHARES TR MORNING     | CUSIP: 33939L100<br>LEI: 5493007FU2RQX77I4604 | Long             | EC               | RF                | US        |     46280 | NS      | $11170464.76  | 13.97%            |  |  |  | No            |                  1 | On Loan: No      |
| FLEXSHARES STOXX GBL. BRO | FLEXSHARES STOXX GBL. BRO | CUSIP: 33939L795<br>LEI: 5493007FU2RQX77I4604 | Long             | EC               | RF                | US        |     25042 | NS      | $1601435.90   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOT                      | FUT. U.S. T-BONDS JUN26   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        12 | NC      | $1366500.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Northern Funds

**Signature:** Randal E. Rein

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

**Title:** Treasurer and Principal Financial Officer