NPORT-P false 0000916620 XXXXXXXX S000001250 C000003396 Northern Funds 811-08236 0000916620 5493004ZY1PEJR3C0A81 50 South LaSalle Street Chicago 60603 800-595-9111 California Intermediate Tax-Exempt Fund S000001250 549300C8VXBK7XMEDD49 2026-03-31 2026-03-31 N 260323862.480000000000 8664216.300000000000 251659646.180000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 8472167.250000000000 0.000000000000 0.000000000000 0.060000000000 USD N BBG Muni Mutual Fund California Intermediate (Risk Basis: MUNI) MFCA_INTM LOS ANGELES UNIFIED 5.00% N/A 5446466M9 190000 PA USD 198310.54 0.0788010883 Long DBT MUN US N 2 2030-07-01 Fixed 5 N N N N N N CITY & COUNTY OF SA 2.00% 549300RA28ZEFOB6M782 79765D3X6 2800000 PA USD 2449701.24 0.9734183756 Long DBT MUN US N 2 2033-10-01 Fixed 2 N N N N N N NATOMAS UNIFIED SCH 3.00% 5493003NJ3RTOZO25E38 63877NLQ8 2000000 PA USD 1716406 0.6820346552 Long DBT MUN US N 2 2040-08-01 Fixed 3 N N N N N N SAN DIEGO PUBLIC FA 5.00% N/A 797299RR7 1500000 PA USD 1751398.2 0.6959392285 Long DBT MUN US N 2 2038-10-15 Fixed 5 N N N N N N CITY OF LOS ANGELES 5.25% N/A 544445EH8 2000000 PA USD 2092515.4 0.8314862680 Long DBT MUN US N 2 2031-05-15 Fixed 5.25 N N N N N N CALIFORNIA INFRASTR 5.00% 549300C1OG9RDIM8ET06 13035ACQ0 200000 PA USD 219639.82 0.0872765353 Long DBT MUN US N 2 2033-11-01 Fixed 5 N N N N N N CALIFORNIA EDUCATIO 5.00% N/A 130179XZ2 750000 PA USD 862162.95 0.3425908615 Long DBT MUN US N 2 2035-11-01 Fixed 5 N N N N N N CALIFORNIA COMMUNITY VAR 549300X8VKJ215S2R571 13013JHD1 2000000 PA USD 2085152.6 0.8285605705 Long DBT MUN US N 2 2055-12-01 Variable 5.0000004 N N N N N N CALIFORNIA HEALTH F 5.00% 5493007RI8BUDOGHZ546 13032U4X3 2500000 PA USD 2761512.25 1.0973202466 Long DBT MUN US N 2 2035-12-01 Fixed 5 N N N N N N STATE OF CALIFORNIA 5.00% N/A 13063ENT9 2500000 PA USD 2844019.25 1.1301053996 Long DBT MUN US N 2 2033-08-01 Fixed 5 N N N N N N CALIFORNIA HEALTH F 5.00% 5493007RI8BUDOGHZ546 13032U3Z9 690000 PA USD 808034.51 0.3210822721 Long DBT MUN US N 2 2033-08-15 Fixed 5 N N N N N N CALIFORNIA COMMUNITY VAR 549300X8VKJ215S2R571 13013JGR1 2000000 PA USD 2018815.6 0.8022007623 Long DBT MUN US N 2 2055-10-01 Variable 5.0000004 N N N N N N COUNTY OF SACRAMENT 5.00% 549300OXI5MD45L13R20 786107WM0 325000 PA USD 355314.7 0.1411885876 Long DBT MUN US N 2 2032-07-01 Fixed 5 N N N N N N REDDING JOINT POWER 5.00% 549300G0VQMKGZ4YHU07 75728LCE4 2250000 PA USD 2304702.68 0.9158014465 Long DBT MUN US N 2 2055-06-01 Fixed 5 N N N N N N CALIFORNIA MUNICIPA 5.00% 5493000UQOV6R4ZWS346 13048VGF9 2245000 PA USD 2346441 0.9323866721 Long DBT MUN US N 2 2036-04-01 Fixed 5 N N N N N N TRANSBAY JOINT POWE 5.00% 549300WC0UP8WU8GYU95 89356CAL0 600000 PA USD 620438.82 0.2465388589 Long DBT MUN US N 2 2034-10-01 Fixed 5 N N N N N N LOS ANGELES COUNTY 5.00% N/A 54473EZJ6 1750000 PA USD 1949566.33 0.7746837284 Long DBT MUN US N 2 2043-12-01 Fixed 5 N N N N N N LONG BEACH COMMUNIT 5.00% N/A 542411QY2 2000000 PA USD 2094111.4 0.8321204578 Long DBT MUN US N 2 2052-08-01 Fixed 5 N N N N N N CALIFORNIA HEALTH F 5.00% 5493007RI8BUDOGHZ546 13032UBB3 250000 PA USD 250604.85 0.0995808640 Long DBT MUN US N 2 2027-11-15 Fixed 5 N N N N N N CALIFORNIA HEALTH FAC VAR 5493007RI8BUDOGHZ546 13032U4Q8 2000000 PA USD 2202456 0.8751724933 Long DBT MUN US N 2 2050-10-01 Variable 5.0000004 N N N N N N SAN DIEGO COUNTY RE 5.00% N/A 79739GST4 1100000 PA USD 1215519.8 0.4830014738 Long DBT MUN US N 2 2036-07-01 Fixed 5 N N N N N N CALIFORNIA COMMUNITY VAR 549300X8VKJ215S2R571 13013JDG8 1215000 PA USD 1281960.84 0.5094026235 Long DBT MUN US N 2 2054-11-01 Variable 5.2499988 N N N N N N EVERGREEN SCHOOL DI 5.00% N/A 300191C35 1000000 PA USD 1022751.7 0.4064027410 Long DBT MUN US N 2 2046-08-01 Fixed 5 N N N N N N ALBANY UNIFIED SCHO 5.00% N/A 012104RN7 1000000 PA USD 1005663.6 0.3996125780 Long DBT MUN US N 2 2043-08-01 Fixed 5 N N N N N N CITY & COUNTY OF SA 5.00% N/A 79773NAC2 375000 PA USD 388757.06 0.1544773133 Long DBT MUN US N 2 2037-09-01 Fixed 5 N N N N N N COUNTY OF SACRAMENT 5.00% N/A 786153RG3 1000000 PA USD 1024782.3 0.4072096244 Long DBT MUN US N 2 2027-09-01 Fixed 5 N N N N N N CSCDA COMMUNITY IMP 3.25% N/A 126292CL3 1000000 PA USD 792107.7 0.3147535618 Long DBT MUN US N 2 2043-07-01 Fixed 3.25 N N N N N N SAN FRANCISCO CITY 5.00% 54930055TIDYHNDP4F84 79766DUD9 1000000 PA USD 1074002.1 0.4267677064 Long DBT MUN US N 2 2030-05-01 Fixed 5 N N N N N N CALIFORNIA MUNICIPA 2.65% 5493000UQOV6R4ZWS346 130483DZ0 3222057 PA USD 2799632.76 1.1124678917 Long DBT MUN US N 2 2036-08-01 Fixed 2.65 N N N N N N CALIFORNIA HOUSING 3.75% 549300BOPCVLBA552Z14 13033DAG0 1871921.75 PA USD 1884069.96 0.7486579547 Long DBT MUN US N 2 2035-03-25 Fixed 3.75 N N N N N N CALIFORNIA INFRASTRUC VAR 549300C1OG9RDIM8ET06 13034AN30 3000000 PA USD 2844064.2 1.1301232610 Long DBT MUN US N 2 2050-12-01 Variable 1.1999988 N N N N N N CITY OF MENIFEE CA 4.00% QBYVXZGTBGYIK7O14C08 58680WBD5 1000000 PA USD 824186.7 0.3275005399 Long DBT MUN US N 2 2051-09-01 Fixed 4 N N N N N N CALIFORNIA COMMUNITY VAR 549300X8VKJ215S2R571 13013JAX4 1400000 PA USD 1416406.18 0.5628261032 Long DBT MUN US N 2 2052-10-01 Variable 3.9999996 N N N N N N CALIFORNIA ENTERPRI 3.00% 549300544P6FSHU1HB46 13067VAU8 3000000 PA USD 2343898.8 0.9313764982 Long DBT MUN US N 2 2044-11-01 Fixed 3 N N N N N N TRANSBAY JOINT POWE 5.00% 549300WC0UP8WU8GYU95 89356CAF3 465000 PA USD 487275.64 0.1936248610 Long DBT MUN US N 2 2029-10-01 Fixed 5 N N N N N N CALIFORNIA SCHOOL F 4.00% N/A 13059TGY9 800000 PA USD 741527.68 0.2946549800 Long DBT MUN US N 2 2040-07-01 Fixed 4 N N N N N N NI US GOV T PORTFOLIO 549300Y178DO5JBR1S04 665278404 3880269.88 NS USD 3880269.88 1.5418721034 Long STIV RF US N 1 N N N CALIFORNIA MUNICIPA 3.00% 5493000UQOV6R4ZWS346 13048VXJ2 1000000 PA USD 768351.5 0.3053137488 Long DBT MUN US N 2 2046-10-01 Fixed 3 N N N N N N GOLDEN STATE TOBAC 2.158% N/A 38122NC59 1000000 PA USD 996482.1 0.3959641981 Long DBT MUN US N 2 2026-06-01 Fixed 2.158 N N N N N N STATE OF CALIFORNIA 5.25% 9845007J7054602FF597 13063DFQ6 1500000 PA USD 1502269.35 0.5969448709 Long DBT MUN US N 2 2039-10-01 Fixed 5.25 N N N N N N GOLDEN STATE TOBAC 2.532% N/A 38122NC75 1500000 PA USD 1441994.55 0.5729939511 Long DBT MUN US N 2 2028-06-01 Fixed 2.532 N N N N N N CALIFORNIA MUNICIPA 4.00% 5493000UQOV6R4ZWS346 13048VB64 400000 PA USD 357746.72 0.1421549801 Long DBT MUN US N 2 2041-11-01 Fixed 4 N N N N N N CALIFORNIA COMMUNITY VAR 549300X8VKJ215S2R571 13013JBL9 750000 PA USD 784915.73 0.3118957457 Long DBT MUN US N 2 2053-12-01 Variable 5.0000004 N N N N N N PALM SPRINGS UNIFIE 2.00% 549300VO66CCEHGE5291 6966673W2 1970000 PA USD 1949514.96 0.7746633159 Long DBT MUN US N 2 2027-08-01 Fixed 2 N N N N N N CITY OF LONG BEACH 5.00% 549300XH3OUOL3JO1O51 542424UU8 1300000 PA USD 1328436.33 0.5278702208 Long DBT MUN US N 2 2030-05-15 Fixed 5 N N N N N N ALAMEDA UNIFIED SCH 5.00% N/A 010824LH1 2000000 PA USD 2037167.4 0.8094930717 Long DBT MUN US N 2 2042-08-01 Fixed 5 N N N N N N CALIFORNIA INFRASTR 5.00% 549300C1OG9RDIM8ET06 13034ATU4 1000000 PA USD 1041505.9 0.4138549489 Long DBT MUN US N 2 2036-05-15 Fixed 5 N N N N N N LOS ANGELES DEPARTM 5.00% 549300S8NXV6YU61GG95 544525YH5 1850000 PA USD 1890814.89 0.7513381341 Long DBT MUN US N 2 2043-07-01 Fixed 5 N N N N N N CITY OF LOS ANGELES 5.00% N/A 544445R76 2840000 PA USD 3102359.48 1.2327600102 Long DBT MUN US N 2 2032-05-15 Fixed 5 N N N N N N CITY OF LOS ANGELES 5.00% N/A 544386ED3 775000 PA USD 849584.61 0.3375927062 Long DBT MUN US N 2 2030-09-01 Fixed 5 N N N N N N CALIFORNIA ST FRN 9845007J7054602FF597 13063BCD2 3500000 PA USD 3500000 1.3907672736 Long DBT MUN US N 2 2033-05-01 Variable 2.550000000000 N N N N N N NATOMAS UNIFIED SCH 3.00% 5493003NJ3RTOZO25E38 63877NLP0 1655000 PA USD 1459791.76 0.5800658875 Long DBT MUN US N 2 2039-08-01 Fixed 3 N N N N N N CITY OF LOS ANGELES 5.00% N/A 544445NU9 1500000 PA USD 1525803 0.6062962510 Long DBT MUN US N 2 2044-05-15 Fixed 5 N N N N N N CALIFORNIA COMMUNITY VAR 549300X8VKJ215S2R571 13013JAP1 3500000 PA USD 3493258.65 1.3880885168 Long DBT MUN US N 2 2052-02-01 Variable 3.9999996 N N N N N N CALIFORNIA ENT. DEV 5.00% 549300544P6FSHU1HB46 13067VBC7 2875000 PA USD 3298688.18 1.3107735905 Long DBT MUN US N 2 2032-11-01 Fixed 5 N N N N N N MORELAND SCHOOL DIS 5.00% N/A 616794WR0 1300000 PA USD 1495026.65 0.5940668966 Long DBT MUN US N 2 2032-08-01 Fixed 5 N N N N N N CALIFORNIA PUBLIC F 5.00% 549300IFY1T501PZ2S75 13057EJD7 1500000 PA USD 1640864.85 0.6520174668 Long DBT MUN US N 2 2032-06-01 Fixed 5 N N N N N N SAN FRANCISCO CITY 5.00% N/A 79770GKJ4 1150000 PA USD 1285658.6 0.5108719731 Long DBT MUN US N 2 2031-08-01 Fixed 5 N N N N N N CALIFORNIA STATEWID 5.00% N/A 13078YYX7 300000 PA USD 340932.33 0.1354735792 Long DBT MUN US N 2 2034-09-02 Fixed 5 N N N N N N TWIN RIVERS UNIFIED 5.00% N/A 90171TJV3 1500000 PA USD 1763472.6 0.7007371371 Long DBT MUN US N 2 2034-08-01 Fixed 5 N N N N N N UNIVERSITY OF CALIFOR VAR RRR42I7GG51DB5HDQR14 91412HTH6 1000000 PA USD 1000000 0.3973620782 Long DBT MUN US N 2 2054-05-15 Variable 1.80000115 N N N N N N CITY OF LOS ANGELES 5.00% N/A 544445LR8 1465000 PA USD 1538267.14 0.6112490275 Long DBT MUN US N 2 2030-05-15 Fixed 5 N N N N N N SAN FRANCISCO UNIFI 4.00% N/A 79771TMM6 1000000 PA USD 1000551.6 0.3975812631 Long DBT MUN US N 2 2035-06-15 Fixed 4 N N N N N N MUNICIPAL IMPROVEME 5.00% 549300ZJ0YLTZNSR8F57 5445874K1 600000 PA USD 656486.58 0.2608628717 Long DBT MUN US N 2 2030-05-01 Fixed 5 N N N N N N CALIFORNIA HEALTH FAC VAR 5493007RI8BUDOGHZ546 13032UP93 1855000 PA USD 2068600.47 0.8219833817 Long DBT MUN US N 2 2054-11-01 Variable 5.0000004 N N N N N N CALIFORNIA COMMUNITY VAR 549300X8VKJ215S2R571 13013JEA0 3250000 PA USD 3318262.03 1.3185514962 Long DBT MUN US N 2 2055-01-01 Variable 5.0000004 N N N N N N SAN FRANCISCO CITY 5.00% N/A 79770GKK1 1420000 PA USD 1609752.47 0.6396545868 Long DBT MUN US N 2 2032-08-01 Fixed 5 N N N N N N CALIFORNIA STATEWID 5.00% N/A 13078YYY5 275000 PA USD 313998.55 0.1247711164 Long DBT MUN US N 2 2035-09-02 Fixed 5 N N N N N N MUNICIPAL IMPROVEME 5.00% N/A 5445876F0 750000 PA USD 862030.43 0.3425382031 Long DBT MUN US N 2 2034-05-01 Fixed 5 N N N N N N CALIFORNIA STATE PU 5.00% N/A 13068XSM2 1250000 PA USD 1348273.63 0.5357528116 Long DBT MUN US N 2 2029-09-01 Fixed 5 N N N N N N STATE OF CALIFORNIA 5.00% 9845007J7054602FF597 13063DAU2 4560000 PA USD 4717840.3 1.8746908261 Long DBT MUN US N 2 2031-11-01 Fixed 5 N N N N N N LOS ANGELES COUNTY 5.00% 54930051IHTXE1N9RB42 54466HHL3 2975000 PA USD 3113299.72 1.2371072467 Long DBT MUN US N 2 2036-07-01 Fixed 5 N N N N N N GARDEN GROVE PUBLIC 5.00% N/A 36527RBA5 580000 PA USD 663193.23 0.2635278401 Long DBT MUN US N 2 2032-04-01 Fixed 5 N N N N N N METROPOLITAN WATER DI VAR 5493003GD0S0P56RLT45 59266TXR7 2920000 PA USD 3188543.93 1.2670064424 Long DBT MUN US N 2 2037-07-01 Variable 5.0000004 N N N N N N CALIFORNIA COMMUNIT 5.00% 549300X8VKJ215S2R571 13013JFC5 725000 PA USD 773363.37 0.3073052759 Long DBT MUN US N 2 2032-09-01 Fixed 5 N N N N N N LOS ANGELES DEPT. O 5.00% 549300S8NXV6YU61GG95 544532RB2 1500000 PA USD 1682066.1 0.6683892811 Long DBT MUN US N 2 2034-07-01 Fixed 5 N N N N N N UNIVERSITY OF CALIF 5.00% RRR42I7GG51DB5HDQR14 91412HWX7 2250000 PA USD 2594943.45 1.0311321221 Long DBT MUN US N 2 2036-11-15 Fixed 5 N N N N N N OAKLAND UNIFIED SCH 5.00% N/A 672325U47 2000000 PA USD 2108914.8 0.8380027676 Long DBT MUN US N 2 2028-08-01 Fixed 5 N N N N N N BAY AREA TOLL AUTHO 5.00% 5493001FUZGUQMIP5D78 072024B84 795000 PA USD 910465.48 0.3617844552 Long DBT MUN US N 2 2032-04-01 Fixed 5 N N N N N N CITY OF LONG BEACH 5.00% 549300XH3OUOL3JO1O51 542424VE3 3000000 PA USD 3031854.9 1.2047441638 Long DBT MUN US N 2 2047-05-15 Fixed 5 N N N N N N LOS ANGELES DEPT. O 5.00% 549300S8NXV6YU61GG95 544532NR1 4210000 PA USD 4692037.42 1.8644377401 Long DBT MUN US N 2 2033-07-01 Fixed 5 N N N N N N CALIFORNIA EDUCATIO 5.00% N/A 130179XL3 700000 PA USD 756245.84 0.3005034186 Long DBT MUN US N 2 2044-11-01 Fixed 5 N N N N N N STATE OF CALIFORNIA 5.00% N/A 13063EKW5 1515000 PA USD 1656547.36 0.6582491016 Long DBT MUN US N 2 2032-11-01 Fixed 5 N N N N N N ONTARIO PUBLIC FINC 5.00% N/A 68304RDV9 475000 PA USD 553838.79 0.2200745326 Long DBT MUN US N 2 2033-11-01 Fixed 5 N N N N N N LOS ANGELES DEPT. O 5.00% 549300S8NXV6YU61GG95 544532QW7 500000 PA USD 531122.35 0.2110478808 Long DBT MUN US N 2 2029-07-01 Fixed 5 N N N N N N CALIFORNIA MUNICIPA 5.00% 5493000UQOV6R4ZWS346 13048V5K0 635000 PA USD 647773.91 0.2574007871 Long DBT MUN US N 2 2041-09-01 Fixed 5 N N N N N N LAKE ELSINORE FACIL 5.00% N/A 50962CCL6 1750000 PA USD 2003400.35 0.7960753265 Long DBT MUN US N 2 2033-09-01 Fixed 5 N N N N N N CALIFORNIA INFRA. & 5.00% 549300C1OG9RDIM8ET06 13034A7D6 1500000 PA USD 1670146.95 0.6636530629 Long DBT MUN US N 2 2031-11-01 Fixed 5 N N N N N N SANTA ROSA HIGH SCH 5.00% N/A 802615J21 1000000 PA USD 1004027.8 0.3989625732 Long DBT MUN US N 2 2043-08-01 Fixed 5 N N N N N N BAY AREA TOLL AUTHORI VAR 5493001FUZGUQMIP5D78 072024YE6 3000000 PA USD 3000000 1.1920862345 Long DBT MUN US N 2 2055-04-01 Variable 2.4200011 N N N N N N CALIFORNIA COMMUNITY VAR 549300X8VKJ215S2R571 13013JFW1 2000000 PA USD 2163996.4 0.8598901067 Long DBT MUN US N 2 2056-01-01 Variable 5.0000004 N N N N N N STATE OF CALIFORNIA 5.00% N/A 13063EKR6 25000 PA USD 27587.89 0.0109623813 Long DBT MUN US N 2 2032-11-01 Fixed 5 N N N N N N MOUNT DIABLO UNIFIE 5.00% N/A 621196V68 750000 PA USD 864417.83 0.3434868653 Long DBT MUN US N 2 2032-08-01 Fixed 5 N N N N N N ALUM ROCK UNION ELE 5.00% N/A 022168TZ1 1750000 PA USD 2026992.45 0.8054499324 Long DBT MUN US N 2 2033-08-01 Fixed 5 N N N N N N SOUTHERN CALIFORNIA 5.00% 5493003B5TD5FWUKMD34 842475R64 1000000 PA USD 1087918.9 0.4322977150 Long DBT MUN US N 2 2035-07-01 Fixed 5 N N N N N N SACRAMENTO CITY UNI 5.00% N/A 785870U87 845000 PA USD 988262.31 0.3926979653 Long DBT MUN US N 2 2035-08-01 Fixed 5 N N N N N N DESERT SANDS UNIFIE 5.00% N/A 250433TR0 1330000 PA USD 1360137.27 0.5404669722 Long DBT MUN US N 2 2039-08-01 Fixed 5 N N N N N N ORANGE COUNTY COMMU 5.00% N/A 68423PZG8 1000000 PA USD 1048592.5 0.4166708950 Long DBT MUN US N 2 2037-08-15 Fixed 5 N N N N N N SAN FRANCISCO CITY 5.25% 549300RA28ZEFOB6M782 79766DWT2 1000000 PA USD 1083748.6 0.4306405959 Long DBT MUN US N 2 2041-05-01 Fixed 5.25 N N N N N N PERALTA COMMUNITY C 5.00% 254900VWMA3IHACOBO19 713575ZK7 2150000 PA USD 2505905.63 0.9957518689 Long DBT MUN US N 2 2033-08-01 Fixed 5 N N N N N N CITY OF LONG BEACH 5.00% 549300XH3OUOL3JO1O51 542426DJ7 700000 PA USD 786499.42 0.3125250440 Long DBT MUN US N 2 2033-05-15 Fixed 5 N N N N N N CALIFORNIA EDUCATIO 5.25% 5493000UQOV6R4ZWS346 130179YN8 1500000 PA USD 1541515.8 0.6125399218 Long DBT MUN US N 2 2040-08-01 Fixed 5.25 N N N N N N SACRAMENTO CITY UNI 5.00% N/A 785870U79 1295000 PA USD 1503759.31 0.5975369245 Long DBT MUN US N 2 2034-08-01 Fixed 5 N N N N N N SAN FRANCISCO UNIFI 3.25% N/A 79771TLC9 1500000 PA USD 1486840.8 0.5908141502 Long DBT MUN US N 2 2032-06-15 Fixed 3.25 N N N N N N DESERT SANDS UNIFIE 5.00% N/A 250433WZ8 1230000 PA USD 1413746.38 0.5617691996 Long DBT MUN US N 2 2032-08-01 Fixed 5 N N N N N N LOS ANGELES UNIFIED 5.00% N/A 544647JT8 3500000 PA USD 4045128.85 1.6073808063 Long DBT MUN US N 2 2033-07-01 Fixed 5 N N N N N N NORTHERN CALIFORNIA E VAR 5493001ZIJGWU7HYLH34 664840AL9 2000000 PA USD 2130068.6 0.8464084856 Long DBT MUN US N 2 2054-12-01 Variable 5.0000004 N N N N N N LOS ANGELES UNIFIED 5.00% N/A 544647AC4 1500000 PA USD 1564844.4 0.6218098228 Long DBT MUN US N 2 2031-07-01 Fixed 5 N N N N N N GARDEN GROVE PUBLIC 5.00% N/A 36527RAX6 300000 PA USD 324193.08 0.1288220360 Long DBT MUN US N 2 2029-04-01 Fixed 5 N N N N N N CALIFORNIA STATEWID 5.00% N/A 13080S3H5 265000 PA USD 281320.66 0.1117861621 Long DBT MUN US N 2 2045-04-01 Fixed 5 N N N N N N VISTA JOINT POWERS 5.00% N/A 928317FL5 900000 PA USD 1044516.78 0.4150513584 Long DBT MUN US N 2 2033-05-01 Fixed 5 N N N N N N CALIFORNIA COMMUNITY VAR 549300X8VKJ215S2R571 13013JHG4 1000000 PA USD 1071433.7 0.4257471217 Long DBT MUN US N 2 2056-10-01 Variable 5.0000004 N N N N N N IMPERIAL IRRIGATION 5.00% 549300WHWX5TZ5O15D48 452650HH0 2500000 PA USD 2513823.25 0.9988980308 Long DBT MUN US N 2 2046-11-01 Fixed 5 N N N N N N WEST CONTRA COSTA U 5.00% N/A 95234AAD7 235000 PA USD 265330.89 0.1054324339 Long DBT MUN US N 2 2031-08-01 Fixed 5 N N N N N N VAL VERDE UNIFIED S 5.00% N/A 918828CF9 245000 PA USD 281436.28 0.1118321051 Long DBT MUN US N 2 2032-09-01 Fixed 5 N N N N N N IRVINE UNIFIED SCHO 5.00% N/A 463612PU9 1400000 PA USD 1582485.8 0.6288198462 Long DBT MUN US N 2 2032-09-01 Fixed 5 N N N N N N CALIFORNIA STATE PU 5.00% N/A 13068XCC1 1500000 PA USD 1664482.35 0.6614021657 Long DBT MUN US N 2 2031-08-01 Fixed 5 N N N N N N SAN LEANDRO UNIFIED 5.00% N/A 798458SY2 560000 PA USD 591790.36 0.2351550473 Long DBT MUN US N 2 2032-08-01 Fixed 5 N N N N N N CALIFORNIA HEALTH FAC VAR 5493007RI8BUDOGHZ546 13032UN87 1350000 PA USD 1485705.78 0.5903631363 Long DBT MUN US N 2 2061-11-15 Variable 5.0000004 N N N N N N RANCHO CUCAMONGA RE 5.00% N/A 75212CBS7 1500000 PA USD 1715424.75 0.6816447436 Long DBT MUN US N 2 2032-09-01 Fixed 5 N N N N N N CALIFORNIA COMMUNITY VAR 549300X8VKJ215S2R571 13013JEP7 2320000 PA USD 2455582.89 0.9757555203 Long DBT MUN US N 2 2055-02-01 Variable 5.0000004 N N N N N N JEFFERSON UNION HIG 5.00% 549300S1EAFO90X8HQ88 4724667L9 300000 PA USD 354024.6 0.1406759508 Long DBT MUN US N 2 2034-08-01 Fixed 5 N N N N N N CENTRAL VALLEY ENER 5.00% 254900G5IPQ9MA3FRJ55 15569DAG7 500000 PA USD 525924.05 0.2089822735 Long DBT MUN US N 2 2034-08-01 Fixed 5 N N N N N N RIVER ISLANDS PUBLI 5.00% N/A 768269AC6 575000 PA USD 609580.39 0.2422241306 Long DBT MUN US N 2 2046-09-01 Fixed 5 N N N N N N CALIFORNIA ENT. DEV 5.00% 549300544P6FSHU1HB46 13067RGD9 550000 PA USD 605166.16 0.2404700830 Long DBT MUN US N 2 2033-07-01 Fixed 5 N N N N N N CALIFORNIA HEALTH FAC VAR 549300FOKP65GNO33016 13032U5T1 2000000 PA USD 2258335.8 0.8973770067 Long DBT MUN US N 2 2065-08-15 Variable 5.0000004 N N N N N N CITY OF MENIFEE CA 3.00% QBYVXZGTBGYIK7O14C08 58680WBC7 385000 PA USD 302500.51 0.1202022313 Long DBT MUN US N 2 2042-09-01 Fixed 3 N N N N N N UNIVERSITY OF CALIF 5.00% RRR42I7GG51DB5HDQR14 91412HSH7 3000000 PA USD 3330865.5 1.3235596372 Long DBT MUN US N 2 2031-05-15 Fixed 5 N N N N N N RIALTO UNIFIED SCHO 5.00% N/A 762497CX1 270000 PA USD 302094.77 0.1200410056 Long DBT MUN US N 2 2031-09-01 Fixed 5 N N N N N N BAY AREA TOLL AUTHORI VAR 5493001FUZGUQMIP5D78 072024YF3 3650000 PA USD 3650000 1.4503715854 Long DBT MUN US N 2 2055-04-01 Variable 2.30000005 N N N N N N MOUNT DIABLO UNIFIE 5.00% N/A 621204DL7 400000 PA USD 454657.24 0.1806635457 Long DBT MUN US N 2 2032-09-01 Fixed 5 N N N N N N ONTARIO PUBLIC FIN 4.567% N/A 68304RFB1 500000 PA USD 496629.75 0.1973418295 Long DBT MUN US N 2 2034-10-01 Fixed 4.567 N N N N N N CALIFORNIA COMMUNIT 5.00% 549300X8VKJ215S2R571 13013JHM1 1000000 PA USD 1038490.3 0.4126566638 Long DBT MUN US N 2 2036-03-01 Fixed 5 N N N N N N EAST SIDE UNION HIG 5.00% 549300FHNKBG2V8ZLG85 275282TG6 750000 PA USD 860617.8 0.3419768775 Long DBT MUN US N 2 2032-08-01 Fixed 5 N N N N N N CALIFORNIA STATE PU 5.00% N/A 13068XRC5 405000 PA USD 465604.12 0.1850134207 Long DBT MUN US N 2 2035-11-01 Fixed 5 N N N N N N UNIVERSITY OF CALIF 5.00% RRR42I7GG51DB5HDQR14 91412HWH2 3000000 PA USD 3456401.7 1.3734429625 Long DBT MUN US N 2 2036-05-15 Fixed 5 N N N N N N SAN DIEGO ASSOCIATI 5.00% N/A 797257AV4 1000000 PA USD 1020444.5 0.4054859472 Long DBT MUN US N 2 2037-07-01 Fixed 5 N N N N N N AZUSA UNIFIED SCHOO 5.00% N/A 055033QY3 1700000 PA USD 1751890.46 0.6961348339 Long DBT MUN US N 2 2044-08-01 Fixed 5 N N N N N N TEMECULA VALLEY UNI 5.00% N/A 87975BBG7 670000 PA USD 760282.5 0.3021074342 Long DBT MUN US N 2 2032-09-01 Fixed 5 N N N N N N SAN JOAQUIN VALLEY CL VAR 254900VA5DFN33OVGH87 79811YAK4 1500000 PA USD 1633483.95 0.6490845770 Long DBT MUN US N 2 2056-01-01 Variable 5.5000008 N N N N N N HAYWARD UNIFIED SCH 5.00% N/A 421295AU0 3750000 PA USD 4332186.38 1.7214465830 Long DBT MUN US N 2 2033-08-01 Fixed 5 N N N N N N CALIFORNIA HEALTH F 5.00% N/A 13032U2M9 700000 PA USD 803615.61 0.3193263688 Long DBT MUN US N 2 2033-02-01 Fixed 5 N N N N N N CALIFORNIA STATEWID 5.00% 549300KTNI2GCJNX2U48 13080S2X1 2000000 PA USD 2254453.6 0.8958343677 Long DBT MUN US N 2 2035-10-01 Fixed 5 N N N N N N MORONGO UNIFIED SCH 5.00% N/A 617736LU5 375000 PA USD 417437.66 0.1658738961 Long DBT MUN US N 2 2041-08-01 Fixed 5 N N N N N N SAN MATEO UNION HIG 5.00% N/A 799017A73 600000 PA USD 711746.22 0.2828209571 Long DBT MUN US N 2 2035-09-01 Fixed 5 N N N N N N PLACENTIA-YORBA LIN 5.00% N/A 726000DX7 1000000 PA USD 1135928.5 0.4513749094 Long DBT MUN US N 2 2032-10-01 Fixed 5 N N N N N N LOS ANGELES COUNTY 5.00% N/A 54473ESL9 1665000 PA USD 1669362.3 0.6633412728 Long DBT MUN US N 2 2029-12-01 Fixed 5 N N N N N N STATE OF CALIFORNIA 5.00% 9845007J7054602FF597 13063C4Q0 2000000 PA USD 2016321 0.8012095028 Long DBT MUN US N 2 2028-08-01 Fixed 5 N N N N N N CALIFORNIA STATEWID 5.00% N/A 13078RHT0 4630000 PA USD 4988106.42 1.9820843332 Long DBT MUN US N 2 2033-05-15 Fixed 5 N N N N N N CALIFORNIA STATE PU 5.00% N/A 13068XLZ0 3500000 PA USD 3928216.25 1.5609241726 Long DBT MUN US N 2 2032-09-01 Fixed 5 N N N N N N CALIFORNIA INFRA. & 5.00% 549300C1OG9RDIM8ET06 13035ADD8 2045000 PA USD 2170226.8 0.8623658314 Long DBT MUN US N 2 2029-11-01 Fixed 5 N N N N N N CALIFORNIA COMMUNITY VAR 549300X8VKJ215S2R571 13013JFD3 2720000 PA USD 2913184.46 1.1575890311 Long DBT MUN US N 2 2055-02-01 Variable 5.0000004 N N N N N N ONTARIO PUBLIC FINC 5.00% N/A 68304RDU1 300000 PA USD 345584.91 0.1373223380 Long DBT MUN US N 2 2032-11-01 Fixed 5 N N N N N N FONTANA PUBLIC FACI 5.00% N/A 34461BCD6 450000 PA USD 521507.75 0.2072274033 Long DBT MUN US N 2 2037-11-01 Fixed 5 N N N N N N SOUTHERN CALIFORNIA 5.00% N/A 842472EG3 360000 PA USD 421089.26 0.1673249035 Long DBT MUN US N 2 2035-12-01 Fixed 5 N N N N N N CALIFORNIA STATE PU 5.00% N/A 13068XRG6 500000 PA USD 557363.05 0.2214749398 Long DBT MUN US N 2 2039-11-01 Fixed 5 N N N N N N INGLEWOOD JOINT POW 5.00% N/A 45710PAS9 1070000 PA USD 1204301.37 0.4785436951 Long DBT MUN US N 2 2040-08-01 Fixed 5 N N N N N N REDLANDS UNIFIED SC 3.00% N/A 757606TP3 2295000 PA USD 2296343.26 0.9124797300 Long DBT MUN US N 2 2030-07-01 Fixed 3 N N N N N N SANTA ROSA ELEMENTA 5.00% N/A 802598NG3 1145000 PA USD 1149611.83 0.4568121459 Long DBT MUN US N 2 2043-08-01 Fixed 5 N N N N N N CALIFORNIA EDUCATIO 5.00% N/A 130179XK5 610000 PA USD 664502.1 0.2640479354 Long DBT MUN US N 2 2043-11-01 Fixed 5 N N N N N N LOS ALAMITOS UNIFIED STP 549300YJXGV6HPEZKU12 544204DP2 1100000 PA USD 1207517.85 0.4798218023 Long DBT MUN US N 2 2034-08-01 Variable 5.95 N N N N N N STATE OF CALIFORNIA 5.00% N/A 13063ENU6 2000000 PA USD 2295671.6 0.9122128378 Long DBT MUN US N 2 2034-08-01 Fixed 5 N N N N N N FONTANA PUBLIC FACI 5.00% N/A 34461BBY1 425000 PA USD 487632.17 0.1937665325 Long DBT MUN US N 2 2032-11-01 Fixed 5 N N N N N N LOS ANGELES DEPT. O 5.00% 549300S8NXV6YU61GG95 544532QH0 1850000 PA USD 2079902.46 0.8264743639 Long DBT MUN US N 2 2035-07-01 Fixed 5 N N N N N N SANTA CRUZ COUNTY R 5.00% N/A 80182YDT1 560000 PA USD 637582.4 0.2533510675 Long DBT MUN US N 2 2032-09-01 Fixed 5 N N N N N N MUNICIPAL IMPROVEME 5.00% N/A 5445875M6 1000000 PA USD 1113508.9 0.4424662106 Long DBT MUN US N 2 2040-05-01 Fixed 5 N N N N N N SUTTER BUTTE FLOOD 5.00% N/A 869398CD7 500000 PA USD 576807.6 0.2292014666 Long DBT MUN US N 2 2035-10-01 Fixed 5 N N N N N N 2026-04-30 Northern Funds Randal E. Rein Randal E. Rein Treasurer and Principal Financial Officer