0001752724-24-074139.txt : 20240328 0001752724-24-074139.hdr.sgml : 20240328 20240328140152 ACCESSION NUMBER: 0001752724-24-074139 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240131 FILED AS OF DATE: 20240328 DATE AS OF CHANGE: 20240328 PERIOD START: 20240430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Northern Lights Fund Trust CENTRAL INDEX KEY: 0001314414 ORGANIZATION NAME: IRS NUMBER: 043023766 FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-21720 FILM NUMBER: 24797491 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 0001314414 S000073754 PFG Janus Henderson(R) Balanced Strategy C000230901 PFG Janus Henderson(R) Balanced Strategy Class R Shares NPORT-P 1 primary_doc.xml NPORT-P false 0001314414 XXXXXXXX S000073754 C000230901 Northern Lights Fund Trust 811-21720 0001314414 549300BSYF57GRCG4861 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 PFG Janus Henderson Balanced Strategy S000073754 549300QXIGTNB4IGCS21 2024-04-30 2024-01-31 N 278099346.65 670038.23 277429308.42 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N BlackRock Liquidity Funds 5493007YVNX55LTRQ706 BLKR-LIQ FED-INS 09248U700 1410371.25000000 PA USD 1410371.25000000 0.508371396674 Long STIV RF US N 1 N N N Janus Detroit Street Trust 5493003MM7OCK5UJW595 JANUS S/M GR ALP 47103U209 63066.00000000 NS USD 4058927.76000000 1.463049373952 Long EC RF US N 1 N N N Janus Investment Fund W6UYDZFUOFJ4HQQ32382 J/H-BALANCE-N 47103D108 5128878.75000000 NS USD 221362406.85000000 79.79056290436 Long EC RF US N 1 N N N Janus Detroit Street Trust 5493003MM7OCK5UJW595 JANUS HENDERSON SHORT DUR 47103U886 399394.00000000 NS USD 19406554.46000000 6.995134930236 Long EC RF US N 1 N N N Janus Investment Fund W6UYDZFUOFJ4HQQ32382 J/H-CONTRA-N 47103D207 851165.94200000 NS USD 22002639.60000000 7.930899487623 Long EC RF US N 1 N N N Janus Investment Fund W6UYDZFUOFJ4HQQ32382 JANUS HNDRSN HIGH YLD-N 47103D850 377445.08800000 NS USD 2725153.54000000 0.982287543994 Long EC RF US N 1 N N N Janus Detroit Street Trust 5493003MM7OCK5UJW595 JANUS HENDERSON 47103U852 151490.00000000 NS USD 6945816.50000000 2.503634723943 Long EC RF US N 1 N N N 2024-02-28 Northern Lights Fund Trust James Colantino James Colantino Treasurer XXXX NPORT-EX 2 pfgnport.htm PFG EX

 

 

PFG ACTIVE CORE BOND STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    OPEN END FUNDS — 99.2%      
    FIXED INCOME - 99.2%      
3,053,039   PIMCO Income Fund, Institutional Class       $ 32,453,801
1,523,054   PIMCO International Bond Fund U.S. Dollar-Hedged, Institutional Class         14,971,621
971,072   PIMCO Investment Grade Credit Bond Fund, Institutional Class         8,720,224
1,994,941   PIMCO Mortgage Opportunities and Bond Fund, Institutional Class         18,712,546
5,792,683   PIMCO Total Return Fund, Institutional Class         50,048,780
    TOTAL OPEN END FUNDS (Cost $132,431,037)    

124,906,972

               
               
    SHORT-TERM INVESTMENT — 0.8%      
    MONEY MARKET FUND - 0.8%      
947,089   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $947,089)(a)       947,089
             
 
    TOTAL INVESTMENTS - 100.0% (Cost $133,378,126)     $ 125,854,061
    LIABILITIES IN EXCESS OF OTHER ASSETS – (0.0)%(b)    

(25,298)

    NET ASSETS - 100.0%        

$ 125,828,763

           
 

 

 

(a) Rate disclosed is the seven day effective yield as of January 31, 2024.
((b) Amount represents less than 0.05%

 

 

 

 
 

 

 

 

PFG AMERICAN FUNDS® CONSERVATIVE INCOME STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    OPEN END FUNDS — 99.5%      
    EQUITY - 9.9%      
383,011   American Mutual Fund, Class R-6       $ 19,679,127
             
 
    FIXED INCOME - 74.8%      
3,459,221   American Funds - Bond Fund of America (The), Class R-6         39,573,484
1,062,437   American Funds Multi-Sector Income Fund, Class R-6         9,891,292
2,149,100   American Funds Strategic Bond Fund, Class R-6         19,986,633
3,944,575   American Intermediate Bond Fund of America, Class R-6         49,543,866
3,129,553   American Short Term Bond Fund of America, Class R-6         29,824,640
             

148,819,915

    MIXED ALLOCATION - 14.8%      
305,756   American Balanced Fund, Class R-6         9,857,581
843,901   The Income Fund of America, Class R-6         19,696,656
             

29,554,237

               
    TOTAL OPEN END FUNDS (Cost $209,120,385)    

  198,053,279

               
    SHORT-TERM INVESTMENT — 0.8%      
    MONEY MARKET FUND - 0.8%      
1,534,881   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $1,534,881)(a)       1,534,881
             
 
    TOTAL INVESTMENTS - 100.3% (Cost $210,655,266)     $ 199,588,160
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3)%    

(543,765)

    NET ASSETS - 100.0%        

$ 199,044,395

           

 

(a) Rate disclosed is the seven day effective yield as of January 31, 2024.

 

 

 

 
 

 

PFG AMERICAN FUNDS® GROWTH STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    OPEN END FUNDS — 99.7%      
    EQUITY - 99.7%      
3,603,432   AMCAP Fund, Class R-6       $ 142,407,619
2,775,787   American - The Growth Fund of America, Class R-6         178,566,350
1,299,706   American Funds - New Economy Fund (The), Class R-6         71,704,783
1,993,729   American Funds Fundamental Investors, Class R-6         144,106,716
1,281,969   American New Perspective Fund, Class R-6         72,021,010
1,627,148   Smallcap World Fund, Inc., Class R-6         108,498,198
    TOTAL OPEN END FUNDS (Cost $722,660,856)    

717,304,676

               
    SHORT-TERM INVESTMENT — 0.6%      
    MONEY MARKET FUND - 0.6%      
3,963,029   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $3,963,029)(a)       3,963,029
             
 
    TOTAL INVESTMENTS - 100.3% (Cost $726,623,885)     $ 721,267,705
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3)%    

(1,943,213)

    NET ASSETS - 100.0%        

$ 719,324,492

           

 

(a) Rate disclosed is the seven day effective yield as of January 31, 2024.

 

 

 

 

 

 

 
 

PFG BNY MELLON DIVERSIFIER STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    EXCHANGE-TRADED FUND — 1.9%      
    EQUITY - 1.9%      
50,559   iShares Global Infrastructure ETF (Cost $2,388,661)       $ 2,293,862
             
 
    OPEN END FUNDS — 97.5%      
    ALTERNATIVE - 24.9%      
1,991,114   BNY Mellon Global Real Return Fund, Class I         29,906,533
             
 
    EQUITY - 4.9%      
297,378   BNY Mellon Global Real Estate Securities Fund, Class I         2,266,018
80,140   BNY Mellon Natural Resources Fund, Class I         3,575,051
             

5,841,069

    FIXED INCOME - 67.7%      
8,780,771   BNY Mellon Core Plus Fund, Class I         81,222,135
             
 
    TOTAL OPEN END FUNDS (Cost $118,696,809)    

  116,969,737

               
    SHORT-TERM INVESTMENT — 0.5%      
    MONEY MARKET FUND - 0.5%      
608,052   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $608,052)(a)       608,052
             
 
    TOTAL INVESTMENTS - 99.9% (Cost $121,693,522)     $ 119,871,651
    OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%    

60,695

    NET ASSETS - 100.0%        

$ 119,932,346

           
ETF  - Exchange-Traded Fund  

 

(a) Rate disclosed is the seven day effective yield as of January 31, 2024.

 

 

 
 

 

PFG BR TARGET ALLOCATION EQUITY STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    EXCHANGE-TRADED FUNDS — 99.7%      
    EQUITY - 99.7%      
228,998   BlackRock U.S. Equity Factor Rotation ETF       $ 9,253,809
116,195   iShares Core MSCI Emerging Markets ETF         5,629,648
204,654   iShares Core S&P 500 ETF, USD Class         99,298,121
6,754   iShares Core S&P Mid-Cap ETF         1,839,384
46,769   iShares Global Energy ETF         1,813,702
124,550   iShares MSCI EAFE Growth ETF         12,097,541
329,304   iShares MSCI EAFE Value ETF         16,972,328
67,581   iShares MSCI Emerging Markets ex China ETF         3,653,429
85,954   iShares MSCI USA Quality Factor ETF         12,936,077
63,668   iShares S&P 500 Value ETF         11,094,786
71,494   iShares US Infrastructure ETF         2,766,818
57,931   iShares US Technology ETF         7,319,582
    TOTAL EXCHANGE-TRADED FUNDS (Cost $174,832,017)    

184,675,225

               
    SHORT-TERM INVESTMENT — 0.7%      
    MONEY MARKET FUND - 0.7%      
1,235,006   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $1,235,006)(a)       1,235,006
             
 
    TOTAL INVESTMENTS - 100.4% (Cost $176,067,023)     $ 185,910,231
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.4)%    

(773,531)

    NET ASSETS - 100.0%        

$ 185,136,700

           

 

EAFE  - Europe, Australasia and Far East
ETF  - Exchange-Traded Fund
MSCI  - Morgan Stanley Capital International

 

(a) Rate disclosed is the seven day effective yield as of January 31, 2024.

 

 

 
 

 

PFG FIDELITY INSTITUTIONAL AM® CORE PLUS BOND STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    EXCHANGE-TRADED FUNDS — 53.3%      
    FIXED INCOME - 53.3%      
280,674   Fidelity Corporate Bond ETF(a)       $ 13,146,770
110,058   Fidelity Total Bond ETF         5,034,053
67,565   iShares MBS ETF         6,337,597
152,688   iShares US Treasury Bond ETF         3,511,824
    TOTAL EXCHANGE-TRADED FUNDS (Cost $26,997,740)    

28,030,244

               
    OPEN END FUNDS — 46.0%      
    FIXED INCOME - 46.0%      
599,849   Fidelity Advisor Strategic Income Fund, Class Z         6,820,286
1,823,124   Fidelity Total Bond Fund, Class Z         17,410,832
    TOTAL OPEN END FUNDS (Cost $23,348,889)    

24,231,118

               
    SHORT-TERM INVESTMENT — 0.6%      
    MONEY MARKET FUND - 0.6%      
307,305   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $307,305)(b)       307,305
             
 
    TOTAL INVESTMENTS - 99.9% (Cost $50,653,934)     $ 52,568,667
    OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%    

78,423

    NET ASSETS - 100.0%        

$ 52,647,090

           

 

ETF  - Exchange-Traded Fund

 

(a) Affiliated Company – PFG Fidelity Institutional AM® Core Plus Bond Strategy Fund holds in excess of 5% of outstanding voting securities of this security.
(b) Rate disclosed is the seven day effective yield as of January 31, 2024.

 

 

 
 

 

PFG FIDELITY INSTITUTIONAL AM® EQUITY INDEX STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    OPEN END FUNDS — 99.6%      
    EQUITY - 99.6%      
1,177,640   Fidelity 500 Index Fund, Institutional Premium Class       $ 198,161,504
7,515,778   Fidelity Global ex US Index Fund, Institutional Premium Class         104,093,523
696,942   Fidelity Mid Cap Index Fund, Institutional Premium Class         20,580,711
849,958   Fidelity Small Cap Index Fund, Institutional Premium Class         20,458,491
    TOTAL OPEN END FUNDS (Cost $296,452,067)    

343,294,229

               
    SHORT-TERM INVESTMENT — 0.6%      
    MONEY MARKET FUND - 0.6%      
2,187,133   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $2,187,133)(a)       2,187,133
             
 
    TOTAL INVESTMENTS - 100.2% (Cost $298,639,200)     $ 345,481,362
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2)%    

(656,875)

    NET ASSETS - 100.0%        

$ 344,824,487

           

 

(a) Rate disclosed is the seven day effective yield as of January 31, 2024.

 

 

 
 

 

 

PFG FIDELITY INSTITUTIONAL AM® EQUITY SECTOR STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    EXCHANGE-TRADED FUNDS — 49.3%      
    EQUITY - 49.3%      
251,136   Fidelity MSCI Consumer Discretionary Index ETF       $ 19,038,620
519,136   Fidelity MSCI Consumer Staples Index ETF         23,371,503
1,519,032   Fidelity MSCI Energy Index ETF         34,740,262
501,408   Fidelity MSCI Financials Index ETF         27,371,863
93,222   Fidelity MSCI Industrials Index ETF         5,643,660
1,490,671   Fidelity MSCI Materials Index ETF(a)         69,673,962
297,926   Fidelity MSCI Real Estate Index ETF         7,540,507
    TOTAL EXCHANGE-TRADED FUNDS (Cost $176,667,581)    

187,380,377

               
    OPEN END FUNDS — 50.4%      
    EQUITY - 50.4%      
206,406   Fidelity Advisor Communication Services Fund, Class Z(a),(b)         18,836,603
1,220,547   Fidelity Advisor Health Care Fund, Class Z(b)         82,155,043
813,649   Fidelity Advisor Technology Fund, Class Z         90,339,396
    TOTAL OPEN END FUNDS (Cost $167,370,796)    

191,331,042

               
    SHORT-TERM INVESTMENT — 0.6%      
    MONEY MARKET FUND - 0.6%      
2,088,350   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $2,088,350)(c)       2,088,350
             
 
    TOTAL INVESTMENTS - 100.3% (Cost $346,126,727)     $ 380,799,769
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3)%    

(1,061,153)

    NET ASSETS - 100.0%        

$ 379,738,616

           

 

 

 

ETF  - Exchange-Traded Fund
MSCI  - Morgan Stanley Capital International

 

(a) Affiliated Company – PFG Fidelity Institutional AM® Equity Sector Strategy Fund holds in excess of 5% of outstanding voting securities of this security.
(b) Non-income producing security.
(c) Rate disclosed is the seven day effective yield as of January 31, 2024.

 

 

 
 

PFG INVESCO® EQUITY FACTOR ROTATION STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    EXCHANGE-TRADED FUNDS — 99.5%      
    EQUITY - 99.5%      
346,300   Invesco International Developed Dynamic Multifactor ETF       $ 8,532,832
232,148   Invesco Russell 1000 Dynamic Multifactor ETF         11,591,150
79,279   Invesco Russell 2000 Dynamic Multifactor ETF         2,885,756
216,607   Invesco S&P 500 Enhanced Value ETF, USD Class(a)         9,700,268
43,767   Invesco S&P 500 Low Volatility ETF         2,762,573
39,825   Invesco S&P 500 Momentum ETF         2,755,492
49,354   Invesco S&P 500 Quality ETF         2,748,031
120,211   Invesco S&P Emerging Markets Low Volatility ETF         2,809,331
100,874   Invesco S&P International Developed Low Volatility         2,807,323
97,584   Invesco S&P MidCap 400 GARP ETF         9,596,410
    TOTAL EXCHANGE-TRADED FUNDS (Cost $52,992,521)        

56,189,166

               
    SHORT-TERM INVESTMENT — 0.4%      
    MONEY MARKET FUND - 0.4%      
232,398   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $232,398)(b)         232,398
             
 
    TOTAL INVESTMENTS - 99.9% (Cost $53,224,919)     $ 56,421,564
    OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%    

67,120

    NET ASSETS - 100.0%        

$ 56,488,684

           
                 

 

ETF  - Exchange-Traded Fund

 

(a) Affiliated Company – PFG Invesco® Equity Factor Rotation Strategy Fund holds in excess of 5% of outstanding voting securities of this security.
(b) Rate disclosed is the seven day effective yield as of January 31, 2024.  

 

 

 

 
 

 

PFG JANUS HENDERSON® BALANCED STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    EXCHANGE-TRADED FUNDS — 11.0%      
    EQUITY - 1.5%      
63,066   Janus Henderson Small/Mid Cap Growth Alpha ETF       $ 4,058,928
             
 
    FIXED INCOME - 9.5%      
151,490   Janus Henderson Mortgage-Backed Securities ETF         6,945,817
399,394   Janus Henderson Short Duration Income ETF         19,406,554
             

26,352,371

               
    TOTAL EXCHANGE-TRADED FUNDS (Cost $29,312,239)    

  30,411,299

               
    OPEN END FUNDS — 88.7%      
    EQUITY - 7.9%      
851,166   Janus Henderson Contrarian Fund, Class N         22,002,640
             
 
    FIXED INCOME - 1.0%      
377,445   Janus Henderson High-Yield Fund, Class N         2,725,153
             
 
    MIXED ALLOCATION - 79.8%      
5,128,879   Janus Henderson Balanced Fund, Class N         221,362,407
             
 
    TOTAL OPEN END FUNDS (Cost $255,884,821)    

  246,090,200

               
    SHORT-TERM INVESTMENT — 0.5%      
    MONEY MARKET FUND - 0.5%      
1,410,371   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $1,410,371)(a)         1,410,371
             
 
    TOTAL INVESTMENTS - 100.2% (Cost $286,607,431)     $ 277,911,870
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2)%    

(482,562)

    NET ASSETS - 100.0%        

$ 277,429,308

           
 

 

 

 

ETF  - Exchange-Traded Fund

 

(a) Rate disclosed is the seven day effective yield as of January 31, 2024.

 

 
 

 

PFG JP MORGAN® TACTICAL AGGRESSIVE STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    EXCHANGE-TRADED FUNDS — 41.4%      
    EQUITY - 41.4%      
174,799   JPMorgan BetaBuilders International Equity ETF       $ 9,921,591
359,677   JPMorgan BetaBuilders US Equity ETF         31,389,012
420,206   JPMorgan Diversified Return International Equity ETF(a)         22,539,850
443,202   JPMorgan International Research Enhanced Equity ETF         25,860,837
489,315   JPMorgan US Value Factor ETF         18,804,375
    TOTAL EXCHANGE-TRADED FUNDS (Cost $100,198,936)        

108,515,665

               
    OPEN END FUNDS — 58.4%      
    ALTERNATIVE - 4.5%      
801,959   JPMorgan Emerging Market Research Enhanced Equity Fund, Class R6         11,885,034
             
 
    EQUITY - 53.9%      
600,287   JPMorgan Emerging Markets Equity Fund, Class R6         17,042,134
59,233   JPMorgan Equity Index Fund, Class R6         4,307,415
542,676   JPMorgan Growth Advantage Fund, Class R6         19,058,781
381,110   JPMorgan Large Cap Growth Fund, Class R6         25,099,910
1,324,244   JPMorgan Large Cap Value Fund, Class R6         24,935,524
2,350,364   JPMorgan US Equity Fund, Class R6         50,955,890
             

141,399,654

               
    TOTAL OPEN END FUNDS (Cost $136,261,796)    

  153,284,688

               
    SHORT-TERM INVESTMENT — 0.4%      
    MONEY MARKET FUND - 0.4%      
1,157,925   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $1,157,925)(b)       $ 1,157,925
             
 
    TOTAL INVESTMENTS - 100.2% (Cost $237,618,657)     $ 262,958,278
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2)%    

(476,818)

    NET ASSETS - 100.0%        

$ 262,481,460

           

 

ETF  - Exchange-Traded Fund

 

(a) Affiliated Company – PFG JP Morgan® Tactical Aggressive Strategy Fund holds in excess of 5% of outstanding voting securities of this security.
(b) Rate disclosed is the seven day effective yield as of January 31, 2024.  

 

 
 

 

PFG JP MORGAN® TACTICAL MODERATE STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    EXCHANGE-TRADED FUNDS — 47.0%      
    EQUITY - 28.1%      
98,964   JPMorgan BetaBuilders International Equity ETF       $ 5,617,197
188,230   JPMorgan BetaBuilders US Equity ETF         16,426,832
141,058   JPMorgan Diversified Return International Equity ETF         7,566,351
39,995   JPMorgan Equity Premium Income ETF         2,238,120
102,599   JPMorgan International Research Enhanced Equity ETF         5,986,652
116,887   JPMorgan US Value Factor ETF         4,491,967
             

42,327,119

    FIXED INCOME - 18.9%      
57,537   iShares 10-20 Year Treasury Bond ETF         6,151,856
351,927   JPMorgan BetaBuilders US Agg ETF         16,343,490
129,702   JPMorgan High Yield Research Enhanced ETF         5,968,886
             

28,464,232

               
    TOTAL EXCHANGE-TRADED FUNDS (Cost $66,904,490)    

  70,791,351

               
    OPEN END FUNDS — 52.6%      
    ALTERNATIVE - 3.7%      
380,178   JPMorgan Emerging Market Research Enhanced Equity Fund, Class R6         5,634,233
             
 
    EQUITY - 32.6%      
144,558   JPMorgan Emerging Markets Equity Fund, Class R6         4,103,990
34,573   JPMorgan Equity Index Fund, Class R6         2,514,175
128,841   JPMorgan Growth Advantage Fund, Class R6         4,524,891
159,971   JPMorgan Large Cap Growth Fund, Class R6         10,535,703
558,096   JPMorgan Large Cap Value Fund, Class R6         10,508,951
775,108   JPMorgan US Equity Fund, Class R6         16,804,342
             

48,992,052

 
 

 

PFG JP MORGAN® TACTICAL MODERATE STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)(Continued)
January 31, 2024
 
Shares             Fair Value
    OPEN END FUNDS — 52.6% (Continued)      
    FIXED INCOME - 16.3%      
2,245,471   JPMorgan Core Plus Bond Fund, Class R6       $  16,257,209
990,920   JPMorgan Income Fund, Class R6         8,323,732
             

24,580,941

               
    TOTAL OPEN END FUNDS (Cost $73,705,915)    

79,207,226

               
    SHORT-TERM INVESTMENT — 0.5%      
    MONEY MARKET FUND - 0.5%      
647,588   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $647,588)(a)         647,588
             
 
    TOTAL INVESTMENTS - 100.1% (Cost $141,257,993)     $ 150,646,165
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%    

(163,032)

    NET ASSETS - 100.0%        

$ 150,483,133

           

 

ETF  - Exchange-Traded Fund

 

(a) Rate disclosed is the seven day effective yield as of January 31, 2024.

 

 
 

 

 

PFG MEEDER TACTICAL STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    OPEN END FUNDS — 99.7%      
    ALTERNATIVE - 10.0%      
896,005   Meeder Spectrum Fund, Institutional Class(a)       $ 11,441,988
             
 
    EQUITY - 76.2%      
1,397,849   Meeder Dynamic Allocation Fund, Institutional Class(a)         19,206,452
336,006   Meeder Moderate Allocation Fund, Institutional Class         4,028,709
6,842,303   Meeder Muirfield Fund, Institutional Class(a)         63,975,533
             

87,210,694

    FIXED INCOME - 2.8%      
179,336   Meeder Total Return Bond Fund         1,655,273
75,815   Performance Trust Total Return Bond Fund         1,496,595
             

3,151,868

    MIXED ALLOCATION - 10.7%      
701,450   Meeder Balanced Fund, Institutional Class         9,055,725
142,938   Meeder Conservative Allocation Fund, Institutional Class         3,228,959
             

12,284,684

               
    TOTAL OPEN END FUNDS (Cost $116,738,463)    

  114,089,234

               
    SHORT-TERM INVESTMENT — 0.5%      
    MONEY MARKET FUND - 0.5%      
539,171   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $539,171)(b)         539,171
             
 
    TOTAL INVESTMENTS - 100.2% (Cost $117,277,634)     $ 114,628,405
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2)%    

(172,405)

    NET ASSETS - 100.0%        

$ 114,456,000

           

 

(a) Affiliated Company – PFG Meeder Tactical Strategy Fund holds in excess of 5% of outstanding voting securities of this security.
(b) Rate disclosed is the seven day effective yield as of January 31, 2024.

 

 
 

PFG MFS® AGGRESSIVE GROWTH STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    EXCHANGE-TRADED FUNDS — 14.7%      
    COMMODITY - 5.0%      
181,870   iShares GSCI Commodity Dynamic ETF       $ 4,690,427
             
 
    EQUITY - 9.7%      
55,672   Schwab International Small-Cap Equity ETF         1,886,724
79,847   SPDR Portfolio Emerging Markets ETF         2,724,380
9,400   Vanguard Small-Cap Growth ETF         2,206,838
13,285   Vanguard Small-Cap Value ETF         2,331,252
             

9,149,194

               
    TOTAL EXCHANGE-TRADED FUNDS (Cost $14,643,501)    

  13,839,621

               
    OPEN END FUNDS — 85.0%      
    EQUITY - 85.0%      
297,396   MFS Global Real Estate Fund, Class R6         4,823,767
62,183   MFS Growth Fund, Class R6         11,264,459
144,667   MFS Institutional International Equity Fund, Class R6         4,740,734
118,998   MFS International Growth Fund, Class R6         4,750,410
364,379   MFS International Large Cap Value Fund, Class R6         4,725,991
57,467   MFS International New Discovery Fund, Class R6         1,767,686
317,230   MFS Mid Cap Growth Fund, Class R6(a)         9,370,982
312,420   MFS Mid Cap Value Fund, Class R6         9,463,215
191,318   MFS Research Fund, Class R6         10,298,669
343,667   MFS Research International Fund, Class R6         7,495,373
241,043   MFS Value Fund, Class R6         11,451,943
    TOTAL OPEN END FUNDS (Cost $76,100,332)        

80,153,229

               
               
 
 

 

PFG MFS® AGGRESSIVE GROWTH STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)(Continued)
January 31, 2024
 
Shares             Fair Value
    SHORT-TERM INVESTMENT — 0.6%      
    MONEY MARKET FUND - 0.6%      
588,407   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $588,407)(b)       $ 588,407
             
 
    TOTAL INVESTMENTS - 100.3% (Cost $91,332,240)     $ 94,581,257
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3)%    

(264,188)

    NET ASSETS - 100.0%        

$ 94,317,069

           

 

ETF  - Exchange-Traded Fund
SPDR  - Standard & Poor's Depositary Receipt

 

(a) Non-income producing security.
(b) Rate disclosed is the seven day effective yield as of January 31, 2024.

 

 
 

 

 

PFG TACTICAL INCOME STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)
January 31, 2024
 
Shares             Fair Value
    EXCHANGE-TRADED FUNDS — 9.7%      
    FIXED INCOME - 9.7%      
160,027   Janus Henderson Mortgage-Backed Securities ETF       $ 7,337,238
57,508   Janus Henderson Short Duration Income ETF         2,794,314
    TOTAL EXCHANGE-TRADED FUNDS (Cost $10,089,377)        

10,131,552

               
    OPEN END FUNDS — 89.8%      
    EQUITY - 25.9%      
242,599   Janus Henderson Asia Equity Fund, Class N(a)         2,253,742
318,750   Janus Henderson Contrarian Fund, Class N         8,239,687
1,210,440   Janus Henderson Global Equity Income Fund, Class N         7,323,163
66,774   Janus Henderson Global Life Sciences Fund, Class N         4,734,960
80,630   Janus Henderson Global Technology and Innovation Fund, Class N         4,445,140
             

26,996,692

    FIXED INCOME - 51.9%      
1,808,723   Counterpoint Tactical Income Fund, Class I         20,330,047
120,673   Counterpoint Tactical Municipal Fund, Class I         1,287,576
738,066   Janus Henderson Developed World Bond Fund, Class R6         5,734,771
1,167,276   Janus Henderson Flexible Bond Fund, Class N         10,995,739
142,555   Janus Henderson High-Yield Fund, Class N         1,029,244
43,410   Kensington Managed Income Fund, Institutional Class         428,021
345,642   Sierra Tactical Bond Fund, Institutional Class         9,017,791
273,427   Toews Tactical Income Fund         2,753,406
238,804   WSTCM Credit Select Risk-Managed Fund, Institutional Class         2,483,561
             

54,060,156

    MIXED ALLOCATION - 12.0%      
834,377   Janus Henderson Responsible International Dividend Fund, Class N(a)         12,498,966
             
 
    TOTAL OPEN END FUNDS (Cost $90,981,516)    

  93,555,814

               
 
 

 

PFG TACTICAL INCOME STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited)(Continued)
January 31, 2024
 
Shares             Fair Value
    SHORT-TERM INVESTMENT — 0.6%      
    MONEY MARKET FUND - 0.6%      
629,920   BlackRock Liquidity FedFund, Institutional Class, 5.22% (Cost $629,920)(b)       $ 629,920
             
 
    TOTAL INVESTMENTS - 100.1% (Cost $101,700,813)     $ 104,317,286
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%    

(117,525)

    NET ASSETS - 100.0%        

$ 104,199,761

           

 

ETF  - Exchange-Traded Fund

 

(a) Affiliated Company – PFG Tactical Income Strategy Fund holds in excess of 5% of outstanding voting securities of this security.
(b) Rate disclosed is the seven day effective yield as of January 31, 2024.