# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0001752724-25-211826
**Filing Date:** 2025-8
**Character Count:** 32244
**Document Hash:** 1e1115529003c473f913734e7a1e10e9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211826.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211826

**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:** 251273754

**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 70 Fund (Series ID: S000071868)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000227425 | Ocean Park Tactical Risk Spectrum 70 Fund Investor Class |  |
| C000227426 | Ocean Park Tactical Risk Spectrum 70 Fund Instl Class    |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL RISK SPECTRUM 70 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 70 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 70 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 — 88.4%** |  |
|  | **EQUITY - 69.0%** |  |
| 25200 | Avantis International Small Cap Value ETF | &nbsp;&nbsp;&nbsp; $1997856 |
| 14541 | Consumer Staples Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 1177385 |
| 60400 | Dimensional International Small Cap Value ETF | &nbsp;&nbsp;&nbsp; 1987764 |
| 45400 | Dimensional International Value ETF | &nbsp;&nbsp;&nbsp; 1944482 |
| 21800 | First Trust Utilities AlphaDEX Fund | &nbsp;&nbsp;&nbsp; 923884 |
| 10700 | Global X MLP & Energy Infrastructure ETF | &nbsp;&nbsp;&nbsp; 670462 |
| 36200 | iShares Latin America 40 ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 948802 |
| 37200 | iShares MSCI Australia ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 979104 |
| 33800 | iShares MSCI Brazil ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 975130 |
| 21800 | iShares MSCI Canada ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1007160 |
| 13400 | iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp; 1197826 |
| 22100 | iShares MSCI EAFE Min Vol Factor ETF | &nbsp;&nbsp;&nbsp; 1857726 |
| 56900 | iShares MSCI EAFE Value ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3612012 |
| 11800 | iShares MSCI Eurozone ETF | &nbsp;&nbsp;&nbsp; 701510 |
| 23100 | iShares MSCI Germany ETF | &nbsp;&nbsp;&nbsp; 977361 |
| 54400 | iShares MSCI International Momentum Factor ETF | &nbsp;&nbsp;&nbsp; 2485536 |
| 20700 | iShares MSCI Italy ETF | &nbsp;&nbsp;&nbsp; 996498 |
| 13800 | iShares MSCI Japan ETF | &nbsp;&nbsp;&nbsp; 1034586 |
| 39900 | iShares MSCI Pacific ex Japan ETF | &nbsp;&nbsp;&nbsp; 1969863 |
| 5800 | iShares U.S. Aerospace & Defense ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1094112 |
| 31300 | iShares US Consumer Goods ETF | &nbsp;&nbsp;&nbsp; 2206024 |
| 193100 | SPDR Portfolio S&P 500 ETF | &nbsp;&nbsp;&nbsp; 14036439 |
| 47800 | Vanguard FTSE Emerging Markets ETF | &nbsp;&nbsp;&nbsp; 2364188 |
| 13400 | Vanguard Mid-Cap Growth ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3810826 |
|  |  | &nbsp;&nbsp; 50956536 |
|  | **FIXED INCOME - 19.4%** |  |
| 14900 | Eldridge BBB-B CLO ETF | &nbsp;&nbsp;&nbsp; 398426 |
| 108300 | First Trust Institutional Preferred Securities and | &nbsp;&nbsp;&nbsp; 2056617 |
| 20200 | First Trust Preferred Securities and Income ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 359560 |
| 8600 | First Trust Senior Loan ETF | &nbsp;&nbsp;&nbsp; 394654 |
| 104700 | Invesco Senior Loan ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2190324 |
| 8100 | iShares 3-7 Year Treasury Bond ETF | &nbsp;&nbsp;&nbsp; 964629 |
| 6100 | iShares CMBS ETF | &nbsp;&nbsp;&nbsp; 297192 |
| 9400 | iShares Floating Rate Bond ETF | &nbsp;&nbsp;&nbsp; 479588 |

---

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL RISK SPECTRUM 70 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 70 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 70 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 — 88.4% (Continued)** |  |
|  | **FIXED INCOME - 19.4% (Continued)** |  |
| 18300 | iShares iBoxx High Yield Corporate Bond ETF<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $1475895 |
| 15100 | PIMCO Multi Sector Bond Active ETF | &nbsp;&nbsp;&nbsp; 400754 |
| 16600 | SPDR Blackstone Senior Loan ETF | &nbsp;&nbsp;&nbsp; 690394 |
| 10600 | SPDR Bloomberg Barclays Emerging Markets Local<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 226840 |
| 9200 | VanEck Short High Yield Muni ETF | &nbsp;&nbsp;&nbsp; 207821 |
| 2700 | Vanguard Intermediate-Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp; 223884 |
| 26200 | Vanguard Total Bond Market ETF | &nbsp;&nbsp;&nbsp; 1929106 |
| 27400 | Vanguard Total International Bond ETF | &nbsp;&nbsp;&nbsp; 1356574 |
| 31500 | Virtus InfraCap U.S. Preferred Stock ETF | &nbsp;&nbsp;&nbsp; 656145 |
|  |  | &nbsp;&nbsp; 14308403 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $61,439,769)** | &nbsp;&nbsp; 65264939 |
|  | **OPEN END FUNDS — 11.3%** |  |
|  | **ALTERNATIVE - 1.7%** |  |
| 61566 | BlackRock Global Equity Market Neutral Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 900098 |
| 36836 | Finisterre Emerging Markets Total Return Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 340363 |
|  |  | &nbsp;&nbsp; 1240461 |
|  | **EQUITY - 1.4%** |  |
| 56365 | Pear Tree Polaris Foreign Value Small Cap Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 1033733 |
| 157 | Thornburg Investment Income Builder Fund, Class I | &nbsp;&nbsp;&nbsp; 4746 |
|  |  | &nbsp;&nbsp; 1038479 |
|  | **FIXED INCOME - 8.2%** |  |
| 55 | American Century High Income Fund, Class I | &nbsp;&nbsp;&nbsp; 479 |
| 34 | BlackRock Strategic Income Opportunities Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp; 334 |
| 18181 | Dodge & Cox Global Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 202533 |
| 113694 | JPMorgan Income Fund, Class I | &nbsp;&nbsp;&nbsp; 976631 |
| 95407 | JPMorgan Mortgage-Backed Securities Fund, Class I | &nbsp;&nbsp;&nbsp; 977921 |
| 101 | Medalist Partners MBS Total Return Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 872 |
| 51 | Metropolitan West Total Return Bond Fund, Class I | &nbsp;&nbsp;&nbsp; 463 |
| 34 | Nuveen Preferred Securities Fund, Class I | &nbsp;&nbsp;&nbsp; 534 |
| 105050 | PIMCO Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 1131389 |
| 78 | PIMCO Investment Grade Credit Bond Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 712 |
| 43 | PIMCO Total Return Fund, Institutional Class | &nbsp;&nbsp;&nbsp; 370 |

---

---

| | | |
|:---|:---|:---|
| **OCEAN PARK TACTICAL RISK SPECTRUM 70 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 70 FUND** | **OCEAN PARK TACTICAL RISK SPECTRUM 70 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 — 11.3% (Continued)** |  |
|  | **FIXED INCOME - 8.2% (Continued)** |  |
| 91725 | Principal Spectrum Preferred and Capital Securities Income Fund, Institutional Class | &nbsp;&nbsp;&nbsp; $851210 |
| 13 | TCW Emerging Markets Income Fund, Class I | &nbsp;&nbsp;&nbsp; 87 |
| 163731 | Thornburg Strategic Income Fund, Class I | &nbsp;&nbsp;&nbsp; 1882904 |
|  |  | &nbsp;&nbsp; 6026439 |
|  | **TOTAL OPEN END FUNDS (Cost $7,972,376)** | &nbsp;&nbsp; 8305379 |
|  | **SHORT-TERM INVESTMENTS — 6.9%** |  |
|  | **COLLATERAL FOR SECURITIES LOANED - 6.6%** |  |
| 4881410 | First American Government Obligations Fund, Class X, 4.25% <sup>(b)(c)</sup> **(Cost $4,881,410)** | &nbsp;&nbsp;&nbsp; 4881410 |
|  | **MONEY MARKET FUND - 0.3%** |  |
| 197092 | First American Government Obligations Fund, Class X, 4.25% <sup>(c)</sup> **(Cost $197,092)** | &nbsp;&nbsp;&nbsp; 197092 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $5,078,502)** | 5078502 |
|  | **TOTAL INVESTMENTS - 106.6% (Cost $74,490,647)** | &nbsp;&nbsp;&nbsp; $78648820 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (6.6)%** | &nbsp;&nbsp; (4898726) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $73750094 |

---

---

| | |
|:---|:---|
| 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 $4,814,065, 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 $4,881,410 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 70 Fund

- **b. EDGAR series identifier (if any):** S000071868

- **c. LEI of Series:** 5493008XRV03W4VM6L27

**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:** $74087139.39

**Total Liabilities:** $337045.27

**Net Assets:** $73750094.12

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227425 | -4.44%               | 3.14%                | 2.76%                |
| Class ID C000227426 | -4.40%               | 3.17%                | 2.82%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2826815.99             | $-208747.12                                |
| Month 2  | $457757.11               | $1657006.38                                |
| Month 3  | $11893.35                | $1476524.39                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Invesco Exchange Traded Fund Trust II            | INVESCO SENIOR L          | CUSIP: 46138G508<br>LEI: O540V2L4S174Y60FMD36 | Long             | EC               | RF                | US        |    104700 | NS      | $2190324.00   | 2.97%             |  |  |  | No            | 1                  | On Loan: —       |
| Global X Funds                                   | GLOBAL X MLP & E          | CUSIP: 37954Y293<br>LEI: 5493003RA4QUTSYF1N15 | Long             | EC               | RF                | US        |     10700 | NS      | $670462.00    | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Principal Funds Inc                              | PRIN-FI EM T-INS          | CUSIP: 74255L175<br>LEI: 549300HZGBXSW6DSXF23 | Long             | EC               | RF                | US        |     36836 | NS      | $340362.60    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Funds V                                | BLKR-STR INC-INS          | CUSIP: 09260B382<br>LEI: 54930077DSFQPJDWM487 | Long             | EC               | RF                | US        |        34 | NS      | $332.56       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI EUR          | CUSIP: 464286608<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     11800 | NS      | $701510.00    | 0.95%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO Funds                                      | PIMCO-INCOME-INS          | CUSIP: 72201F490<br>LEI: N/A                  | Long             | EC               | RF                | US        |    104516 | NS      | $1125640.90   | 1.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI BRA          | CUSIP: 464286400<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     33800 | NS      | $975130.00    | 1.32%             |  |  |  | No            | 1                  | On Loan: —       |
| SPDR Series Trust                                | SPDR PORT SP 500          | CUSIP: 78464A854<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    193100 | NS      | $14036439.00  | 19.03%            |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES 3-7 YEAR          | CUSIP: 464288661<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      8100 | NS      | $964629.00    | 1.31%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES U.S. AER          | CUSIP: 464288760<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      5800 | NS      | $1094112.00   | 1.48%             |  |  |  | No            | 1                  | On Loan: —       |
| VanEck ETF Trust                                 | V/E SH HI YLD MU          | CUSIP: 92189F387<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |      9200 | NS      | $207820.64    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES CMBS ETF          | CUSIP: 46429B366<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      6100 | NS      | $297192.00    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI EAF          | CUSIP: 464288877<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     56900 | NS      | $3612012.00   | 4.90%             |  |  |  | No            | 1                  | On Loan: —       |
| Principal Funds Inc                              | PRIN-PR & CA-INS          | CUSIP: 74253Q416<br>LEI: 549300HZGBXSW6DSXF23 | Long             | EC               | RF                | US        |     91725 | NS      | $851210.23    | 1.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Dodge & Cox Funds                                | D&C-GL BND -I             | CUSIP: 256206301<br>LEI: 549300R3H2V5UI5MR803 | Long             | EC               | RF                | US        |     18181 | NS      | $202532.80    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI JPN          | CUSIP: 46434G822<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     13800 | NS      | $1034586.00   | 1.40%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI INT          | CUSIP: 46434V449<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     54400 | NS      | $2485536.00   | 3.37%             |  |  |  | No            | 1                  | On Loan: No      |
| First Trust Exchange-Traded Fund IV              | FT-SENIOR LOAN            | CUSIP: 33738D309<br>LEI: 5493006CBTW7P2B31B80 | Long             | EC               | RF                | US        |      8600 | NS      | $394654.00    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI AUS          | CUSIP: 464286103<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     37200 | NS      | $979104.00    | 1.33%             |  |  |  | No            | 1                  | On Loan: —       |
| iShares Trust                                    | ISHARES FLOATING          | CUSIP: 46429B655<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      9400 | NS      | $479588.00    | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Funds                                  | BR G EM NET F-IN          | CUSIP: 091936526<br>LEI: 549300OZUEVJZHOBFP42 | Long             | EC               | RF                | US        |     61566 | NS      | $900098.34    | 1.22%             |  |  |  | No            | 1                  | On Loan: No      |
| First American Funds Inc.                        | FRST AM-GV OB-X           | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    197092 | PA      | $197092.49    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI EAF          | CUSIP: 46429B689<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     22100 | NS      | $1857726.00   | 2.52%             |  |  |  | No            | 1                  | On Loan: No      |
| First Trust Exchange-Traded Fund III             | FIRST TRUST INST          | CUSIP: 33739P855<br>LEI: 5493003Z20QMESC6XS29 | Long             | EC               | RF                | US        |    108300 | NS      | $2056617.00   | 2.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI PAC          | CUSIP: 464286665<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     39900 | NS      | $1969863.00   | 2.67%             |  |  |  | No            | 1                  | On Loan: No      |
| American Century ETF Trust                       | AVANTIS INTL S/C          | CUSIP: 025072802<br>LEI: 5493006IKK34YJD98183 | Long             | EC               | RF                | US        |     25200 | NS      | $1997856.00   | 2.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Thornburg Investment Trust                       | THRNB-INC BLD-I           | CUSIP: 885215467<br>LEI: 5493001XM52H8S4WYY82 | Long             | EC               | RF                | US        |       157 | NS      | $4745.83      | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES IBOXX HI          | CUSIP: 464288513<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     18300 | NS      | $1475895.00   | 2.00%             |  |  |  | No            | 1                  | On Loan: —       |
| JP Morgan Trust Ii                               | JPMORGAN MTGE BACK SEC-R6 | CUSIP: 4812C0159<br>LEI: 549300IMXLYKELY96B40 | Long             | EC               | RF                | US        |     95407 | NS      | $978875.06    | 1.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Dimensional ETF Trust                            | DIM INTL VALUE            | CUSIP: 25434V807<br>LEI: 549300TQ0DPO13B72F34 | Long             | EC               | RF                | US        |     45400 | NS      | $1944482.00   | 2.64%             |  |  |  | No            | 1                  | On Loan: No      |
| American Century Investment Trust                | AC-HI INC-Y               | CUSIP: 024932154<br>LEI: 549300RGSU9J1L1HFF90 | Long             | EC               | RF                | US        |        55 | NS      | $476.37       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard International Equity Index Funds        | VANGUARD FTSE EM          | CUSIP: 922042858<br>LEI: 549300UR5XWDVDO7NP96 | Long             | EC               | RF                | US        |     47800 | NS      | $2364188.00   | 3.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuveen Investments Trust V                       | NVN-PREF SEC-I            | CUSIP: 670700400<br>LEI: 5493005YOHPRCB8M2Y83 | Long             | EC               | RF                | US        |        34 | NS      | $531.27       | 0.00%             |  |  |  | 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        |        43 | NS      | $368.95       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI GER          | CUSIP: 464286806<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     23100 | NS      | $977361.00    | 1.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Pear Tree Funds                                  | PEAR TREE POL-F/V SM CAP- | CUSIP: 70472Q500<br>LEI: 549300NANVEIFBMHLV32 | Long             | EC               | RF                | US        |     56365 | NS      | $1033733.11   | 1.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Index Funds                             | VANGUARD M/C GRW          | CUSIP: 922908538<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |     13400 | NS      | $3810826.00   | 5.17%             |  |  |  | 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      |
| Vanguard Scottsdale Funds                        | VANGUARD INT TER          | CUSIP: 92206C870<br>LEI: 549300Y88GQ3VLJIBX57 | Long             | EC               | RF                | US        |      2700 | NS      | $223884.00    | 0.30%             |  |  |  | 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        |        78 | NS      | $709.21       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr Trust                         | SPDR-CONS STAPLE          | CUSIP: 81369Y308<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     14541 | NS      | $1177384.77   | 1.60%             |  |  |  | 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        |     21800 | NS      | $923884.00    | 1.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Inc                                      | ISHARES MSCI CAN          | CUSIP: 464286509<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     21800 | NS      | $1007160.00   | 1.37%             |  |  |  | No            | 1                  | On Loan: —       |
| Ishares Inc                                      | ISHARES MSCI ITA          | CUSIP: 46434G830<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     20700 | NS      | $996498.00    | 1.35%             |  |  |  | No            | 1                  | On Loan: No      |
| PIMCO ETF Trust                                  | PIMCO MULTI SECT          | CUSIP: 72201R585<br>LEI: 5493004M9TBGFQUJ6D27 | Long             | EC               | RF                | US        |     15100 | NS      | $400754.00    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Thornburg Investment Trust                       | THRNB-STR IN-I            | CUSIP: 885215194<br>LEI: 5493001XM52H8S4WYY82 | Long             | EC               | RF                | US        |    163043 | NS      | $1874999.43   | 2.54%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Series Trust                                | SPDR BLOOMBERG E          | CUSIP: 78464A391<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     10600 | NS      | $226840.00    | 0.31%             |  |  |  | No            | 1                  | On Loan: —       |
| Metropolitan West Funds                          | MW-T/R BND-I              | CUSIP: 592905509<br>LEI: 549300KGDNJW6FXNDC82 | Long             | EC               | RF                | US        |        51 | NS      | $461.36       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES US CONSUMER GOODS | CUSIP: 464287812<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     31300 | NS      | $2206024.00   | 2.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Ssga Active Etf Trust                            | SPDR BLACKSTONE           | CUSIP: 78467V608<br>LEI: 549300MAXSRPQ75ICU67 | Long             | EC               | RF                | US        |     16600 | NS      | $690394.00    | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES LATIN AM          | CUSIP: 464287390<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     36200 | NS      | $948802.00    | 1.29%             |  |  |  | No            | 1                  | On Loan: —       |
| Tcw Funds Inc                                    | TCW EMERGING MAR          | CUSIP: 87234N765<br>LEI: 54930078E2I2DS4UJ217 | Long             | EC               | RF                | US        |        13 | NS      | $86.42        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ETFis Series Trust I                             | VIRTUS INFRA ETF          | CUSIP: 26923G822<br>LEI: 5493002CWTVLBPSYFT98 | Long             | EC               | RF                | US        |     31500 | NS      | $656145.00    | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Trust                                    | ISHARES MSCI EAF          | CUSIP: 464287465<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     13400 | NS      | $1197826.00   | 1.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Charlotte Funds                         | VANGUARD INTL BD          | CUSIP: 92203J407<br>LEI: 549300Z9BHDBGHMJLU94 | Long             | EC               | RF                | US        |     27400 | NS      | $1356574.00   | 1.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Series Portfolios Trust                          | ELD BBB-B CL ETF          | CUSIP: 81752T528<br>LEI: 5493008VNHP5UNYJ3713 | Long             | EC               | RF                | US        |     14900 | NS      | $398426.00    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Advisors Series Trust                            | MDL-MBS T/R-INS           | CUSIP: 00770X758<br>LEI: 2549003Z0J6URS6I4Y63 | Long             | EC               | RF                | US        |       101 | NS      | $867.70       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Dimensional ETF Trust                            | DI INTL S-C V ET          | CUSIP: 25434V781<br>LEI: 549300TQ0DPO13B72F34 | Long             | EC               | RF                | US        |     60400 | NS      | $1987764.00   | 2.70%             |  |  |  | No            | 1                  | On Loan: No      |
| First Trust Exchange-Traded Fund III             | FT-PFD SEC & INC          | CUSIP: 33739E108<br>LEI: 5493003Z20QMESC6XS29 | Long             | EC               | RF                | US        |     20200 | NS      | $359560.00    | 0.49%             |  |  |  | No            | 1                  | On Loan: —       |
| JP Morgan Trust I                                | JPM IMCOME-I              | CUSIP: 46637K224<br>LEI: 549300DM5WZMCZZ70R78 | Long             | EC               | RF                | US        |    113132 | NS      | $971802.08    | 1.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Bond Index Funds                        | VANGUARD TOTAL B          | CUSIP: 921937835<br>LEI: 549300INE5BF80OGAZ51 | Long             | EC               | RF                | US        |     26200 | NS      | $1929106.00   | 2.62%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

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

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

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Treasurer