Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
4171
Top-10 weight
8.18%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
375
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
102.9
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | Northern Institutional Funds GOVT PTFL | BNGXX | 120,267,574 | $120.27M | 4.02% |
| 2 | Northern Institutional Liquid Asset Portfolio | — | 25,054,343 | $25.05M | 0.84% |
| 3 | US TREASURY N/B | — | 18,000,000 | $18.00M | 0.60% |
| 4 | US TREASURY N/B | — | 15,000,000 | $14.94M | 0.50% |
| 5 | US TREASURY N/B | — | 15,000,000 | $14.62M | 0.49% |
| 6 | US TREASURY N/B | — | 14,000,000 | $14.36M | 0.48% |
| 7 | US TREASURY N/B | — | 12,000,000 | $11.99M | 0.40% |
| 8 | US TREASURY N/B | — | 12,000,000 | $11.90M | 0.40% |
| 9 | US TREASURY N/B | — | 12,000,000 | $11.69M | 0.39% |
| 10 | US TREASURY N/B | — | 11,000,000 | $10.97M | 0.37% |
| 11 | US TREASURY N/B | — | 11,000,000 | $10.73M | 0.36% |
| 12 | US TREASURY N/B | — | 12,000,000 | $10.46M | 0.35% |
| 13 | US TREASURY N/B | — | 10,000,000 | $10.21M | 0.34% |
| 14 | FNCL 6 4/26 | — | 10,000,000 | $10.19M | 0.34% |
| 15 | US TREASURY N/B | — | 10,000,000 | $10.12M | 0.34% |
| 16 | US TREASURY N/B | — | 10,000,000 | $10.11M | 0.34% |
| 17 | FNCL 5.5 4/26 | — | 10,000,000 | $10.05M | 0.34% |
| 18 | US TREASURY N/B | — | 10,000,000 | $10.04M | 0.34% |
| 19 | US TREASURY N/B | — | 10,000,000 | $10.01M | 0.33% |
| 20 | US TREASURY N/B | — | 10,000,000 | $9.94M | 0.33% |
| 21 | US TREASURY N/B | — | 10,000,000 | $9.86M | 0.33% |
| 22 | US TREASURY N/B | — | 10,000,000 | $9.82M | 0.33% |
| 23 | US TREASURY N/B | — | 12,500,000 | $9.80M | 0.33% |
| 24 | US TREASURY N/B | — | 10,000,000 | $9.53M | 0.32% |
| 25 | US TREASURY N/B | — | 10,000,000 | $8.92M | 0.30% |
| 26 | FN MA4355 | — | 10,888,339 | $8.84M | 0.30% |
| 27 | US TREASURY N/B | — | 10,000,000 | $8.77M | 0.29% |
| 28 | US TREASURY N/B | — | 10,000,000 | $8.68M | 0.29% |
| 29 | US TREASURY N/B | — | 10,000,000 | $8.68M | 0.29% |
| 30 | US TREASURY N/B | — | 10,000,000 | $8.67M | 0.29% |
| 31 | US TREASURY N/B | — | 8,000,000 | $8.18M | 0.27% |
| 32 | US TREASURY N/B | — | 8,000,000 | $8.00M | 0.27% |
| 33 | US TREASURY N/B | — | 8,000,000 | $7.89M | 0.26% |
| 34 | FNCL 6.5 4/26 | — | 7,600,000 | $7.86M | 0.26% |
| 35 | US TREASURY N/B | — | 8,000,000 | $7.85M | 0.26% |
| 36 | US TREASURY N/B | — | 7,500,000 | $7.65M | 0.26% |
| 37 | US TREASURY N/B | — | 7,640,000 | $7.62M | 0.25% |
| 38 | US TREASURY N/B | — | 7,000,000 | $7.01M | 0.23% |
| 39 | US TREASURY N/B | — | 7,000,000 | $6.97M | 0.23% |
| 40 | US TREASURY N/B | — | 7,000,000 | $6.95M | 0.23% |
| 41 | US TREASURY N/B | — | 7,000,000 | $6.95M | 0.23% |
| 42 | US TREASURY N/B | — | 7,000,000 | $6.94M | 0.23% |
| 43 | FN MA4493 | — | 8,109,819 | $6.87M | 0.23% |
| 44 | US TREASURY N/B | — | 7,000,000 | $6.87M | 0.23% |
| 45 | US TREASURY N/B | — | 7,000,000 | $6.84M | 0.23% |
| 46 | FANNIE MAE POOL 2.50% | FN | 7,673,778 | $6.64M | 0.22% |
| 47 | US TREASURY N/B | — | 6,750,000 | $6.57M | 0.22% |
| 48 | US TREASURY N/B | — | 6,750,000 | $6.56M | 0.22% |
| 49 | US TREASURY N/B | — | 6,500,000 | $6.48M | 0.22% |
| 50 | US TREASURY N/B | — | 6,400,000 | $6.40M | 0.21% |
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Machine-readable: JSON · Markdown. Programmatic access via the agent surface.