FundWatcher
SWSFX
Ultra-Short Fixed Income Fund
Northern Funds

Portfolio concentration

As of March 31, 2026 · N-PORT
Holdings
240
Top-10 weight
20.72%
Effective holdings ?
107
Crowding ?
34.7

Holdings

As of March 31, 2026 · N-PORT
#SecurityTickerSharesValue% of fund
1 Northern Institutional Funds GOVT PTFL BNGXX 80,039,381 $80.04M 4.85%
2 WALT DISNEY CO/THE FRN SOFRINDX+47 03/14/2029 — 46,500,000 $46.47M 2.81%
3 US TREASURY N/B — 35,000,000 $34.83M 2.11%
4 BANK OF AMERICA CORPORATION FRN SOFR+111 05/09/2029 BAC 34,000,000 $34.19M 2.07%
5 NATWEST MARKETS PLC SR UNSECURED 144A 09/26 VAR NWG 27,900,000 $27.94M 1.69%
6 ING GROEP NV SR UNSECURED 04/27 VAR INTNED 27,000,000 $27.00M 1.64%
7 Abbott Laboratories — 26,900,000 $26.91M 1.63%
8 GLENCORE FUNDING LLC COMPANY GUAR 144A 10/26 VAR GLENLN 21,450,000 $21.48M 1.30%
9 CITIGROUP INC FRN SOFR+128 02/24/2028 C 21,000,000 $21.10M 1.28%
10 BANK OF NEW ZEALAND FRN SOFR+81 01/27/2027 144A BZLNZ 21,000,000 $21.06M 1.28%
11 SCHWAB CHARLES CORP FRN SOFRINDX+105 03/03/2027 SCHW 20,000,000 $20.08M 1.22%
12 BLACKROCK FUND — 17,340,000 $17.46M 1.06%
13 MACQUARIE BANK LTD FRN SOFR+74 06/12/2028 144A MQGAU 17,000,000 $16.99M 1.03%
14 SVENSKA HANDELSBANKEN FRN SHBASS 15,220,000 $15.24M 0.92%
15 KELLOGG CO — 15,200,000 $15.20M 0.92%
16 CANADIAN IMPERIAL BK OF COMM FRN SOFR+72 01/13/2028 CM 15,000,000 $15.00M 0.91%
17 NORDEA BANK ABP FRN SOFR+70 03/17/2028 144A NDAFH 14,300,000 $14.33M 0.87%
18 MERCK INC FRN MRK 13,700,000 $13.73M 0.83%
19 RIO TINTO FIN. USA PL FRN RIOLN 13,500,000 $13.58M 0.82%
20 MORGAN STANLEY B — 13,110,000 $13.11M 0.79%
21 ARTHUR J GALLAGH — 13,050,000 $13.09M 0.79%
22 JPMORGAN CHASE + CO SR UNSECURED 02/28 VAR JPM 13,000,000 $13.07M 0.79%
23 Schlumberger Holdings Corporation SLB 12,799,000 $12.89M 0.78%
24 BMW US CAP. LLC FRN BMW 12,400,000 $12.43M 0.75%
25 NATIONAL AUSTRALIA BANK LTD — 12,300,000 $12.30M 0.74%
26 BHP FINANCE USA — 12,125,000 $12.17M 0.74%
27 EATON CORP — 12,200,000 $12.11M 0.73%
28 WELLS FARGO + COMPANY SR UNSECURED 01/28 VAR WFC 11,500,000 $11.50M 0.70%
29 PNC Financial Services Group, Inc. (The) — 11,500,000 $11.49M 0.70%
30 ORACLE CORP VARIABLE RATE 08/03/2028 ORCL 11,600,000 $11.43M 0.69%
31 GENERAL MOTORS FINL. FRN GM 11,500,000 $11.39M 0.69%
32 SANTANDER HOLDINGS USA SR UNSECURED 03/29 VAR SANUSA 11,000,000 $11.09M 0.67%
33 ADVANCED MICRO — 11,000,000 $11.07M 0.67%
34 LLOYDS BK GR PLC — 11,000,000 $11.05M 0.67%
35 MS F 04/13/28 MTN MS 11,000,000 $11.04M 0.67%
36 BANK OF MONTREAL SR UNSECURED 09/26 VAR BMO 10,800,000 $10.81M 0.65%
37 SYNOPSYS INC — 10,800,000 $10.81M 0.65%
38 SALESFORCE INC — 10,800,000 $10.80M 0.65%
39 NTT FIN. CORP FRN NTT 10,700,000 $10.78M 0.65%
40 DAIMLER TRUCKS FINANCE NORTH AMERICA LLC FRN SOFR+96 09/25/2027 144A DTRGR 10,720,000 $10.75M 0.65%
41 NATIONWIDE BUILDING SOC(UNGTD) FRN SOFR+129 02/16/2028 144A NWIDE 10,700,000 $10.74M 0.65%
42 Morgan Stanley Private Bank NA — 10,700,000 $10.61M 0.64%
43 ROST 0 7/8 04/15/26 ROST 10,300,000 $10.28M 0.62%
44 JPMORGAN CHASE + CO SR UNSECURED 09/27 VAR JPM 10,100,000 $10.11M 0.61%
45 HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 01/27 VAR HYNMTR 10,000,000 $10.07M 0.61%
46 US TREASURY N/B — 10,000,000 $10.03M 0.61%
47 HSBC HOLDINGS PLC SR UNSECURED 03/29 VAR HSBC 10,000,000 $10.03M 0.61%
48 HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 06/27 VAR HYNMTR 10,000,000 $10.02M 0.61%
49 VERIZON COMM INC — 9,800,000 $9.80M 0.59%
50 ELEMENT FLEET MGT. 6.271% EFNCN 9,720,000 $9.75M 0.59%
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