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        <name>Chevron USA Inc</name>
        <lei>VA8TZDWPEZYU430RZ444</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Citibank, N.A.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HCA Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA 7.69 06/15/25</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Conagra Brands Inc</name>
        <lei>54930035UDEIH090K650</lei>
        <title>CAG 4.6 11/01/25</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Cooperatieve Rabobank U.A. New York Branch</name>
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        <name>D.R. Horton, Inc.</name>
        <lei>529900ZIUEYVSB8QDD25</lei>
        <title>DHI 2.6 10/15/25</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Dupont De Nemours Inc</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DD 4.493 11/15/25</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Dreyfus Treasury Obligations Cash Management</name>
        <lei>549300MKKM9KT7BF6329</lei>
        <title>DREY-T O C/M-INS</title>
        <cusip>261908107</cusip>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Duke Energy Corp</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>DUK 0.9 09/15/25</title>
        <cusip>26441CBJ3</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-15</maturityDt>
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        <name>Elevance Health Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ELV 4.9 02/08/26</title>
        <cusip>28622HAA9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Enbridge Energy Partners L.P.</name>
        <lei>CZ6VG2MNE1J6YDI02G48</lei>
        <title>ENBCN 5 7/8 10/15/25</title>
        <cusip>29250RAW6</cusip>
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        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ET 2.9 05/15/25</title>
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        <name>Entergy Corporation</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>ETR 0.9 09/15/25</title>
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        <name>Ford Motor Credit Company LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>F Float 11/05/26</title>
        <cusip>345397F99</cusip>
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        <name>Ford Motor Credit Company LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>F 4.134 08/04/25</title>
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        <name>Fortinet Inc</name>
        <lei>549300O0QJWDBAS0QX03</lei>
        <title>FTNT 1 03/15/26</title>
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        <name>Fortune Brands Innovations Inc</name>
        <lei>54930032LHW54PQUJD44</lei>
        <title>FBHS 4 06/15/25</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>GE Healthcare Technologies Inc.</name>
        <lei>549300OI9J7XOWZMUN85</lei>
        <title>GEHC 5.6 11/15/25</title>
        <cusip>36267VAD5</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GlaxoSmithKline Capital PLC</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HP Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Capital America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>International Flavors &amp; Fragrances Inc.</name>
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        <title>IFF 1.23 10/01/25</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Jefferies Financial Group Inc</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>JEF 5.03 03/16/26</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Johnson Controls International PLC</name>
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        <title>JCI 3.9 02/14/26</title>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Juniper Networks, Inc.</name>
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        <title>JNPR 1.2 12/10/25</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Kellanova</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Keurig Dr Pepper Inc</name>
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        <title>KDP Float 11/15/26</title>
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        <name>Kinder Morgan, Inc.</name>
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        <title>KMI 4.3 06/01/25</title>
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        <name>Lennar Corp.</name>
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        <name>Lowes Companies, Inc.</name>
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        <title>LOW 4.8 04/01/26</title>
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        <name>Marathon Petroleum Corp.</name>
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        <name>McCormick &amp; Company, Incorporated</name>
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        <name>Mercedes-Benz Finance North America LLC</name>
        <lei>549300423Z16BB673J12</lei>
        <title>MBGGR Float 04/01/27</title>
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        <name>Mondelez International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nasdaq Inc</name>
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        <name>Netflix, Inc.</name>
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        <name>Plains All American Pipeline L.P.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Range Resources Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Reliance Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Reynolds American Inc.</name>
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        <title>BATSLN 4.45 06/12/25</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Royalty Pharma PLC</name>
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        <title>RPRX 1.2 09/02/25</title>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Sprint LLC</name>
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        <name>Take-Two Interactive Software Inc.</name>
        <lei>BOMSTHHJK882EWYX3334</lei>
        <title>TTWO 5 03/28/26</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-28</maturityDt>
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        <name>The Toronto-Dominion Bank</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD Float 10/10/25</title>
        <cusip>89115A2Z4</cusip>
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        <invCountry>CA</invCountry>

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        <name>VMware LLC</name>
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        <name>Volkswagen Group of America Finance LLC</name>
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        <title>VW 3.35 05/13/25</title>
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        <name>Volkswagen Group of America Finance LLC</name>
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        <title>VW Float 03/20/26</title>
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        <name>Walmart Inc</name>
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        <name>Wabtec Corp</name>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Weyerhaeuser Company</name>
        <lei>08IRJODWFYBI7QWRGS31</lei>
        <title>WY 4 3/4 05/15/26</title>
        <cusip>962166CC6</cusip>
        <identifiers>
          <isin value="US962166CC62"/>
        </identifiers>
        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1251638.71000000</valUSD>
        <pctVal>1.677673476330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deducting sales loads and redemption fees, if any." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-05-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Northern Lights Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>James Colantino</ncom:signature>
      <ncom:signerName>James Colantino</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
