MUNC
Northern Trust 2045 Tax-Exempt Distributing Ladder ETF
Northern Funds
ETF

Portfolio moves

Net position changes between two of this fund's N-PORT snapshots. These are differences between point-in-time reports — not a trade log — and share counts can be affected by splits and other corporate actions.

Dec 31, 2025 → Mar 31, 2026

Expand a category to see the positions behind it, ranked by weight.

No positions in this category.

Security Shares Dec 2025 Shares Mar 2026 Δ shares End % Δ value
University of Washington, Series 2024A 95,000 0 -95,000 0.00% -$110.76K
State of Washington, Series 2024B 95,000 0 -95,000 0.00% -$109.83K
State of Ohio, Series 2018V 95,000 0 -95,000 0.00% -$98.17K
County of New Castle, Series 2025 95,000 0 -95,000 0.00% -$96.84K
MASSACHUSETTS ST HLTH & EDUCTNL FACS AUTH REVENUE 75,000 0 -75,000 0.00% -$90.00K
State of New Hampshire, Series 2022A 80,000 0 -80,000 0.00% -$86.36K
HUMBLE TX ISD 5% 2/15/2037 65,000 0 -65,000 0.00% -$74.89K
Folsom Cordova Unified School District, Series 2025A 50,000 0 -50,000 0.00% -$58.86K
GEORGETOWN ISD-REF 45,000 0 -45,000 0.00% -$48.81K
Desert Sands Unified School District, Series 2025 40,000 0 -40,000 0.00% -$46.15K
Iowa Finance Authority, Series 2025A 40,000 0 -40,000 0.00% -$44.52K
Bay Area Toll Authority, Series 2025F1 40,000 0 -40,000 0.00% -$44.38K
State of Oregon, Series 2025G 30,000 0 -30,000 0.00% -$35.00K
New York State Environmental Facilities Corp., Series 2025C 30,000 0 -30,000 0.00% -$34.77K
CALIFORNIA ST EDUCTNL FACS AUT CASEDU 04/42 FIXED 5 30,000 0 -30,000 0.00% -$33.29K
DeWitt Public Schools, Series 2025III 30,000 0 -30,000 0.00% -$33.25K
San Diego Community College District, Series 2025, GO Bonds 25,000 0 -25,000 0.00% -$28.61K
Lubbock-Cooper Independent School District, Series 2025 25,000 0 -25,000 0.00% -$28.15K
Los Angeles Unified School District, Series 2024QRR 25,000 0 -25,000 0.00% -$27.39K
Oregon City School District No. 62, Series 2025B 25,000 0 -25,000 0.00% -$27.12K
Iowa Finance Authority, Series 2025A 25,000 0 -25,000 0.00% -$26.97K
Omaha Public Power District, Series 2025A 25,000 0 -25,000 0.00% -$26.70K
NYC TRANSITIONAL-H-1 20,000 0 -20,000 0.00% -$21.24K
CLEMSON UNIV SC 5% 5/1/2045 15,000 0 -15,000 0.00% -$16.07K
Massachusetts (Commonwealth of), Series 2024 A, Ref. RB 15,000 0 -15,000 0.00% -$16.03K
Forest Hills Public Schools, Series 2025-1 15,000 0 -15,000 0.00% -$15.95K
L'Anse Creuse Public Schools, Series 2025I 15,000 0 -15,000 0.00% -$15.91K
Warren Consolidated Schools, Series 2025 10,000 0 -10,000 0.00% -$10.65K

No positions in this category.

Security Shares Dec 2025 Shares Mar 2026 Δ shares End % Δ value
County of Baltimore, Series 2024 230,000 135,000 -95,000 1.93% -$111.28K
Round Rock Independent School District, Series 2025B 120,000 100,000 -20,000 1.44% -$26.90K
Quitman Independent School District, Series 2025 135,000 100,000 -35,000 1.42% -$42.65K
Seattle Museum Development Authority, Series 2024 200,000 105,000 -95,000 1.40% -$101.02K
Mansfield Independent School District, Series 2025 125,000 85,000 -40,000 1.22% -$47.85K
Missouri Joint Municipal Electric Utility Commission, Series 2025 115,000 75,000 -40,000 1.06% -$47.00K
Wisconsin (State of), Series 2021-2, Ref. GO Bonds 90,000 75,000 -15,000 1.03% -$17.04K
State of Washington, Series 2026B 80,000 60,000 -20,000 0.88% -$25.65K
Iowa Finance Authority, Series 2025A 110,000 60,000 -50,000 0.85% -$58.59K
District of Columbia, Series 2025A 80,000 35,000 -45,000 0.49% -$52.11K
ENERGY NW/WPPS 5% 7/1/2043 40,000 30,000 -10,000 0.41% -$11.19K
State of Ohio, Series 2021A 120,000 25,000 -95,000 0.35% -$104.63K
City of Chicago, Series 2024A 40,000 25,000 -15,000 0.34% -$16.45K
State of Florida, Series 2023, GO Bonds 110,000 15,000 -95,000 0.21% -$107.77K
City of Mesa, Series 2025 65,000 10,000 -55,000 0.14% -$62.32K
Security Shares Dec 2025 Shares Mar 2026 Δ shares End % Δ value
UTILITY DEBT SECZ-TE1 250,000 250,000 0 3.44% -$3.84K
City of Sun Prairie, Series 2025A 245,000 245,000 0 3.38% -$3.66K
Los Angeles Department of Water & Power, Series 2021C 250,000 250,000 0 3.33% -$2.65K
County of Wake, Series 2024B 220,000 220,000 0 3.17% -$5.09K
NJ TRANSP 5% 6/15/2031 195,000 195,000 0 2.74% -$2.36K
City of Manhattan, Series 2025A 185,000 185,000 0 2.65% -$5.67K
Central Florida Tourism Oversight District, Series 2024A 135,000 135,000 0 1.94% -$3.57K
Ferris State University, Series 2025A 130,000 130,000 0 1.85% -$3.34K
Metropolitan Water Reclamation District of Greater Chicago, Series 2007B 120,000 120,000 0 1.78% -$4.35K
IDAHO ST BLDG AUTH-A 115,000 115,000 0 1.47% -$706
St. Paul Independent School District No. 625, Series 2024B 100,000 100,000 0 1.40% -$1.99K
Madison County Board of Education, Series 2025A 95,000 95,000 0 1.34% -$2.74K
NEW YORK A-1 95,000 95,000 0 1.32% -$1.82K
Kentucky State Property & Building Commission 100,000 100,000 0 1.31% -$668
MASSACHUSETTS-A-REF 85,000 85,000 0 1.23% -$1.95K
Utah Transit Authority, Series 2025, RB 85,000 85,000 0 1.23% -$2.40K
State of Hawaii, Series FE 95,000 95,000 0 1.23% -$562
Lubbock-Cooper Independent School District, Series 2025 85,000 85,000 0 1.20% -$2.26K
State of Florida, Series 2020B 85,000 85,000 0 1.18% -$1.36K
District of Columbia, Series 2025 A, Ref. RB 85,000 85,000 0 1.12% -$570
Minneapolis Special School District No. 1, Series 2018B 85,000 85,000 0 1.11% -$485
IL ST TOLL HWY AUTH 85,000 85,000 0 1.10% -$474
Iowa Finance Authority, Series 2025A 75,000 75,000 0 1.08% -$2.29K
City of San Antonio, Series 2024D 75,000 75,000 0 1.06% -$1.73K
NEW YORK NY CITY OF NEW YORK NY 70,000 70,000 0 0.98% -$1.93K
State of Nevada, Series 2025, GO Bonds 75,000 75,000 0 0.97% -$430
State of Florida, Series 2023A 75,000 75,000 0 0.96% -$451
City of Charleston, Series 2025B 65,000 65,000 0 0.95% -$2.04K
Iowa Finance Authority, Series 2025A 65,000 65,000 0 0.91% -$1.43K
Greater Martinsville School Building Corp., Series 2024 65,000 65,000 0 0.91% -$1.79K
City of Grand Prairie, Series 2025 65,000 65,000 0 0.90% -$1.18K
MA ST DEV FIN AGY-A-2 60,000 60,000 0 0.88% -$1.97K
JEA FL ELEC SYS REVENUE JEA A REV REF 60,000 60,000 0 0.87% -$1.66K
County of Clark, Series 2025 55,000 55,000 0 0.80% -$1.80K
Lake County Township High School District No. 113-Highland Park, Series 2025 55,000 55,000 0 0.79% -$1.56K
MA ST 5% 4/1/2039 55,000 55,000 0 0.78% -$1.44K
WYANDOTTE MICH 5% 5/1/2041 55,000 55,000 0 0.76% -$931
Warren Consolidated Schools, Series 2025 55,000 55,000 0 0.76% -$840
Utica Community Schools, Series 2024 50,000 50,000 0 0.72% -$1.43K
State of Washington, Series 2023B 50,000 50,000 0 0.72% -$1.21K
County of Anne Arundel, Series 2025 50,000 50,000 0 0.71% -$938
City of Grand Prairie, Series 2025 50,000 50,000 0 0.70% -$1.46K
LEANDER TX ISD 5% 8/15/2040 50,000 50,000 0 0.70% -$1.35K
County of King, Series 2025A 50,000 50,000 0 0.70% -$535
Oklahoma Capitol Improvement Authority, Series 2025A 50,000 50,000 0 0.70% -$615
NJ TRANSPRTN TRUST-CC 50,000 50,000 0 0.69% -$183
City of Grand Prairie, Series 2025 50,000 50,000 0 0.68% -$823
Florida Atlantic University Finance Corp., Series 2024 50,000 50,000 0 0.68% -$889
State of Illinois, Series 2025C 50,000 50,000 0 0.68% -$191
SAN ANTONIO WTR 5% 5/15/2039 45,000 45,000 0 0.63% -$734
LAKE HAVASU-REF 45,000 45,000 0 0.63% -$705
NYC TRANSITIONAL-F-1 45,000 45,000 0 0.62% -$867
University of Washington, Series 2025C 40,000 40,000 0 0.57% -$1.13K
NORTHWEST TX INDEP SCH DIST 40,000 40,000 0 0.55% -$20
L'Anse Creuse Public Schools, Series 2025I 40,000 40,000 0 0.55% -$220
Temple Independent School District, Series 2025 35,000 35,000 0 0.49% -$961
Round Rock Independent School District, Series 2025, GO Bonds 35,000 35,000 0 0.49% -$904
Pennsylvania Turnpike Commission, Series 2025A 35,000 35,000 0 0.49% -$248
Ferndale Public Schools, Series 2025 35,000 35,000 0 0.48% $12
City of Grand Prairie, Series 2025 35,000 35,000 0 0.48% -$840
KY COMMONWEALTH-A 35,000 35,000 0 0.48% $144
NEW YORK ST DORM AUTH ST PERSO NYSGEN 03/43 FIXED 5 35,000 35,000 0 0.48% -$75
NEW YORK NY REGD B/E 5.00000000 35,000 35,000 0 0.47% -$202
Pierce County School District No. 320 Sumner, Series 2025 30,000 30,000 0 0.43% -$828
CELINA TX INDEP SCH DIST REGD B/E PSF-GTD 5.00000000 30,000 30,000 0 0.42% -$847
Iowa Finance Authority, Series 2025A 30,000 30,000 0 0.42% -$314
University of Washington, Series 2025A 30,000 30,000 0 0.41% -$71
TRIBOROUGH NY BRIDGE TUNNEL TRBGEN 12/43 FIXED 5 30,000 30,000 0 0.41% -$105
NYC TRANSITIONAL-H-1 30,000 30,000 0 0.41% -$64
Romeo Community School District, Series 2025 30,000 30,000 0 0.41% $482
KY COMMONWEALTH-A 30,000 30,000 0 0.41% $64
State of Illinois, Series 2025C 30,000 30,000 0 0.40% $70
SALES TAX SECURITIZATION CORP STSGEN 01/29 FIXED 5 30,000 30,000 0 0.40% -$156
Marion & Ralls Counties School District No. 60 Hannibal, Series 2025A 25,000 25,000 0 0.38% -$775
Hilliard School District, Series 2025 25,000 25,000 0 0.36% -$736
JEA FL ELEC SYS 5% 10/1/2038 25,000 25,000 0 0.35% -$721
King County School District No. 401 Highline, Series 2025 25,000 25,000 0 0.35% -$818
DuPage County High School District No. 87 Glenbard, Series 2025 25,000 25,000 0 0.35% -$731
University of Washington, Series 2025A 25,000 25,000 0 0.34% -$49
Regional Transportation Authority, Series 2025A 25,000 25,000 0 0.34% -$280
Pennsylvania Turnpike Commission, Series 2024 25,000 25,000 0 0.34% -$56
SAN ANTONIO-D-REF-REV 25,000 25,000 0 0.34% $70
City of Lubbock, Series 2025 25,000 25,000 0 0.34% -$124
OK TPK AUTH-A 25,000 25,000 0 0.34% -$166
Arizona Board of Regents, Series 2024 25,000 25,000 0 0.34% -$102
County of Sarasota, Series 2025A 25,000 25,000 0 0.34% -$220
Gobles Public Schools, Series 2025II 25,000 25,000 0 0.34% $447
City of Grand Prairie, Series 2025 25,000 25,000 0 0.34% -$264
Lower Colorado River Authority, Series 2025 25,000 25,000 0 0.34% $115
ECTOR CNTY-CTFS OBLIG 25,000 25,000 0 0.33% -$197
Greater Martinsville School Building Corp., Series 2024 25,000 25,000 0 0.33% $78
AMERICAN MUN PWR OHIO INC REV 5%, DUE 02/15/2044 25,000 25,000 0 0.33% -$126
Round Rock Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, School Building Series 2025B 20,000 20,000 0 0.28% -$343
Snohomish County Public Utility District No. 1, Series 2025A 15,000 15,000 0 0.20% -$9
JEA WTR & SWR REV-A 15,000 15,000 0 0.20% -$24
TACOMA ELEC SYS-A-REF 15,000 15,000 0 0.20% $61
Pennsylvania Turnpike Commission, Series 2024C 15,000 15,000 0 0.20% -$33
NEW YORK ST DORM AUTH SALES TAX REVENUE 15,000 15,000 0 0.20% $67
TRIBOROUGH NY BRIDGE & TUNNEL REGD B/E 5.00000000 15,000 15,000 0 0.20% -$108
Orlando Utilities Commission, Series 2025A 15,000 15,000 0 0.20% -$87
County of Sarasota, Series 2025A 15,000 15,000 0 0.20% -$139
Watervliet Public Schools, Series 2025 15,000 15,000 0 0.20% $246
Lansing School District, Series 2025II 15,000 15,000 0 0.20% $153
HOWELL PUB SCHS-II 15,000 15,000 0 0.20% -$59
Crestwood School District, Series 2025I 15,000 15,000 0 0.20% -$23
Regional Transportation Authority, Series 2025A 15,000 15,000 0 0.20% -$144
IL CHITRN 5 01/01/2045 15,000 15,000 0 0.20% -$46
City of Mesa, Series 2025 10,000 10,000 0 0.14% -$64
IDAHO HSG & FIN-A 10,000 10,000 0 0.14% -$56
Oregon City School District No. 62, Series 2025B 10,000 10,000 0 0.14% -$80
New York (State of) Dormitory Authority (New York University), Series 2025, RB 10,000 10,000 0 0.14% $65
Auburn University, Series 2025A 10,000 10,000 0 0.14% -$56
City of Buckeye, Series 2025 10,000 10,000 0 0.14% -$63
New York (State of) Dormitory Authority, Series 2024 B, Ref. RB 10,000 10,000 0 0.14% -$7
TACOMA WA ELEC 5% 1/1/2045 10,000 10,000 0 0.14% $2
N TX TOLLWAY AUTH REVENUE REGD B/E 5.00000000 10,000 10,000 0 0.14% $60
New York (State of) Dormitory Authority, Series 2025 A, Ref. RB 10,000 10,000 0 0.14% $48
County of King, Series 2024B 10,000 10,000 0 0.14% -$29
TRIBOROUGH NY BRIDGE TUNNEL TRBGEN 12/45 FIXED 5 10,000 10,000 0 0.14% -$5
City of Jacksonville, Series 2025 10,000 10,000 0 0.13% $36
NYC TRANSITIONAL-A-1 10,000 10,000 0 0.13% -$13
NY ST DOR 5% 7/1/2045 10,000 10,000 0 0.13% -$119
NYC TRANSITIONAL-G-1 10,000 10,000 0 0.13% -$23
Clark County Public Utility District No. 1, Series 2024 10,000 10,000 0 0.13% -$38
New York (City of), NY, Series 2024 C, GO Bonds 10,000 10,000 0 0.13% -$10
Michigan State University, Series 2025A 5,000 5,000 0 0.07% -$164
County of King, Series 2023A 5,000 5,000 0 0.07% -$129
MSD Warren Township Vision 2005 School Building Corp., Series 2024 5,000 5,000 0 0.07% -$126
City of San Antonio, Series 2024E 5,000 5,000 0 0.07% -$115
Wawasee High School Building Corp., Series 2024 5,000 5,000 0 0.07% -$105
City of Memphis, Series 2020A 5,000 5,000 0 0.07% -$66
ENERGY N W WA ELEC REVENUE 5,000 5,000 0 0.07% -$66
Lake County Forest Preserve District, Series 2019 5,000 5,000 0 0.07% -$34
South Carolina Transportation Infrastructure Bank, Series 2021A 5,000 5,000 0 0.07% -$30

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