NORTHERN FUNDS - MUNICIPAL MONEY MARKET FUND
Holdings as of March 31, 2009
% of
Security Shares/Par Amortized Cost Amortized Cost Maturity Date
ABAG FIN AUTH FOR NONPROFIT CORPS CALIF 600,000.0000 600,000.00 0.0% 11/01/2036
Adams Cnty CO Hsg Auth Rev 7,230,000.0000 7,230,000.00 0.1% 09/01/2036
ALACHUA CNTY, FL HEALTH FACS&CONT CARE 7,900,000.0000 7,900,000.00 0.1% 10/01/2032
ALEXANDRIA, VA IND.DEV., 3.5%, 10/01/35 4,300,000.0000 4,300,000.00 0.0% 10/01/2035
AMERN MUN PWR-OH INC VAR-COMBUSTION 8,540,000.0000 8,540,000.00 0.1% 03/01/2023
Ann Arbor MI Econ Dev Corp Ltd Oblg Rev 12,760,000.0000 12,760,000.00 0.1% 11/01/2025
Ann Arbor Michigan Eco. Dev 5,180,000.0000 5,180,000.00 0.1% 11/01/2019
Anne Arundel Cnty MD Rev (144A) 9,300,000.0000 9,300,000.00 0.1% 12/01/2033
Arapahoe Cnty CO Multifamily Rev 9,355,000.0000 9,355,000.00 0.1% 08/01/2031
Arden Hills, MN Hlthcare & Hsng Rev 800,000.0000 800,000.00 0.0%
Arizona Brd Regents Ariz St Univ Sys Rv 4,200,000.0000 4,200,000.00 0.0% 07/01/2034
Arizona Hlth Facs Auth Rev 10,170,000.0000 10,170,000.00 0.1% 01/01/2035
Arizona Hlth Facs Auth Rev 885,000.0000 885,000.00 0.0% 01/01/2035
Arizona Hlth Facs Auth Rev 1,695,000.0000 1,695,000.00 0.0% 11/15/2033
Arizona Sch Dist Tax Antic Nt Fin Prog 15,000,000.0000 15,066,662.79 0.1% 07/30/2009
Ascension Parish LA Indl Dev Brd Rev 31,000,000.0000 31,000,000.00 0.3% 06/01/2037
Atlanta GA Dev Auth Rev 10,000,000.0000 10,000,000.00 0.1% 10/01/2033
Atlanta GA Water and Elect. 14,430,000.0000 14,430,000.00 0.1% 11/01/2034
Austin TX Wtr & Wastewater Sys Rev 15,400,000.0000 15,400,000.00 0.2% 05/15/2031
Austin, MN Hsng & Redevlpmnt Auth 4,320,000.0000 4,320,000.00 0.0% 04/01/2029
Baltimore Cnty MD Rev 4,050,000.0000 4,050,000.00 0.0% 12/01/2035
Baltimore Cnty MD Rev 6,000,000.0000 6,000,000.00 0.1% 03/01/2033
Baltimore Cnty MD Rev (144A) 2,770,000.0000 2,770,000.00 0.0% 09/02/2025
Baltimore Cnty, MD Hsng Rev 10,355,000.0000 10,355,000.00 0.1% 09/20/2028
BALTIMORE CNTY, MD, 3.82%, 03/01/2031 5,165,000.0000 5,165,000.00 0.1% 03/01/2031
Bay Area Calif Toll Auth Bridge Rev 4,500,000.0000 4,500,000.00 0.0% 04/01/2029
Bay Med Ctr FL Hosp Rev 19,400,000.0000 19,400,000.00 0.2% 10/01/2037
BB&T MUN TR VAR STS FLOATERS-SER 1017 34,360,000.0000 34,360,000.00 0.3% 03/01/2023
BB&T MUN TR VARIOUS STS 30,000,000.0000 30,000,000.00 0.3% 06/01/2020
BB&T MUN TR VARIOUS STS 80,669,783.0000 80,669,783.00 0.8% 01/21/2027
Berks Cnty PA Mun Auth Rev 10,325,000.0000 10,325,000.00 0.1% 05/01/2037
BERKS CNTY PA-READING HOSP 2008 A-1 10,000,000.0000 10,000,000.00 0.1% 11/01/2011
Bexar Cnty TX Rev Ctf Tr 29,500,000.0000 29,500,000.00 0.3% 05/01/2012
Birmingham Alabama Med. Clinic Board 48,500,000.0000 48,500,000.00 0.5% 12/01/2026
BI-STATE DEV AGY MO ILL MET DIST REV 29,300,000.0000 29,300,000.00 0.3% 10/01/2035
Boomfield, CO Urban Renewal Auth 9,600,000.0000 9,600,000.00 0.1% 12/01/2030
BOSTON MASS WATER AND SEW 30,000,000.0000 30,000,000.00 0.3% 04/06/2009
Boston Mass Water and Sewer TE CP 22,000,000.0000 22,000,000.00 0.2% 05/22/2009
Bremerton Washington Rev. 2,270,000.0000 2,270,000.00 0.0% 12/01/2028
Brevard Cnty FL Hlth Facs Auth Rev 6,600,000.0000 6,600,000.00 0.1% 09/01/2025
Broward Cnty FL Rev 9,970,000.0000 9,970,000.00 0.1% 06/01/2037
Bucks Cnty PA Indl Dev Auth Hosp Rev 8,500,000.0000 8,500,000.00 0.1% 07/01/2034
BUNSVILLE MN HOUSING REV 15,650,000.0000 15,650,000.00 0.2% 01/01/2045
Burke Cnty.GA.Dev.Auth.Poll Ctrl. 8,400,000.0000 8,400,000.00 0.1% 09/01/2030
CA STATEWIDE COMMUNITY DEV, 04/01/2038 11,400,000.0000 11,400,000.00 0.1% 04/01/2038
CA, METROPOLITAN WTR. DISTRICT, 7/1/2027 2,800,000.0000 2,800,000.00 0.0% 07/01/2027
Cabell Cnty W.VA-Rev.Bds. Ser.2001 3,030,000.0000 3,030,000.00 0.0%
Cal Dept of Water Resources 7,000,000.0000 7,000,000.00 0.1% 05/01/2022
CALIF ST DEPT OF WATER, 5/1/2022 4,450,000.0000 4,450,000.00 0.0% 05/01/2022
CALIF. STATE DEPT. OF WATER, 0.00%, 5/1/2022 24,375,000.0000 24,375,000.00 0.2% 05/01/2022
California Health Fac. Fin. 30,500,000.0000 30,500,000.00 0.3% 07/01/2035
California Infras&Econ Dev Bk Rev 13,100,000.0000 13,100,000.00 0.1% 11/01/2038
California Poll Ctrl. Fin Auth. 3,500,000.0000 3,500,000.00 0.0% 12/01/2012
California Polltn Ctrl Fing Auth Rev 15,200,000.0000 15,200,000.00 0.1% 01/01/2043
California Pollution Fin Auth, 11/01/2026 13,500,000.0000 13,500,000.00 0.1% 11/01/2026
CALIFORNIA ST DEPT OF WATER, 0.00%, 5/01/2022 8,950,000.0000 8,950,000.00 0.1% 05/01/2022
CALIFORNIA ST VAR RT, 3.52%, 05/01/2040 7,170,000.0000 7,170,000.00 0.1% 05/01/2040
CALIFORNIA ST, 3.95%, 07/08/2027 42,400,000.0000 42,400,000.00 0.4% 06/01/2032
California Statewide Cmntys Dev 5,000,000.0000 5,000,000.00 0.0% 12/01/2036
California Statewide Cmntys Dev Auth Rv 22,000,000.0000 22,000,000.00 0.2% 12/01/2037
CALIFORNIA STATEWIDE CMTYS DEV AUTH REV 12,900,000.0000 12,900,000.00 0.1% 10/01/2036
Carson City NV Hosp Rev 3,800,000.0000 3,800,000.00 0.0% 09/01/2033
Cass Cnty ND Hlth Facs Rev 7,000,000.0000 7,000,000.00 0.1% 02/15/2037
Centerra Met Dist No 1 Colorado Rev 15,000,000.0000 15,000,000.00 0.1% 12/01/2029
Charleston SC Waterworks SWR Rev 27,200,000.0000 27,200,000.00 0.3% 01/01/2035
Charlotte Cnty, FL Util Rev 9,000,000.0000 9,000,000.00 0.1% 10/01/2021
Charlotte NC 21,025,000.0000 21,025,000.00 0.2% 06/01/2027
Chatom AL Indl Dev Brd Pollution Ctl Rv 5,000,000.0000 5,000,000.00 0.0% 12/01/2024
CHATOM ALA INDL DEV BRD GULF OPPORTUNITY 40,000,000.0000 40,000,000.00 0.4% 11/15/2038
Chattanooga TN Hlth Ed&Hsg Fac Brd Rev 20,500,000.0000 20,500,000.00 0.2% 11/01/2031
CHEMUNG CNTY NY, 07/01/2038 3,900,000.0000 3,900,000.00 0.0% 07/01/2038
Chesterfield, MO IDA Educ Facs Rev 505,000.0000 505,000.00 0.0% 01/01/2028
Chicago IL O'Hare Intl Arpt Rev 25,000,000.0000 25,000,000.00 0.2% 01/01/2035
Chicago IL Wastewater Transmission Rev 3,800,000.0000 3,800,000.00 0.0% 01/01/2039
Chicago IL Water Rev 3,225,000.0000 3,225,000.00 0.0% 11/01/2031
Chicago IL Wtr Rev 14,700,000.0000 14,700,000.00 0.1% 11/01/2030
Chicago Illinois G.O. 31,100,000.0000 31,100,000.00 0.3% 01/01/2042
Chicago Illinois G.O. 7,925,000.0000 7,925,000.00 0.1% 01/01/2042
CITIZENS PPTY INS CORP. FL 80,000,000.0000 80,134,204.94 0.8% 06/01/2009
CITY OF CHICAGO, IL 63,160,000.0000 63,160,000.00 0.6% 01/01/2040
CITY OF VALDEZ, AK MARINE TERMINAL, 7/01/2037 41,000,000.0000 41,000,000.00 0.4% 07/01/2037
CITY OF VALDEZ, AK, 3.94%, 6/1/2037 41,300,000.0000 41,300,000.00 0.4% 06/01/2037
City of Valdez, Alaska 12,600,000.0000 12,600,000.00 0.1% 07/01/2037
Clackamas Cnty.,OR 10,200,000.0000 10,200,000.00 0.1% 11/01/2029
Clarksville, TN Pub Building Authority 5,400,000.0000 5,400,000.00 0.1%
Clayton Cnty.Hsng.Auth.of Georiga 6,000,000.0000 6,000,000.00 0.1% 07/01/2032
NORTHERN FUNDS - MUNICIPAL MONEY MARKET FUND
Holdings as of March 31, 2009
% of
Security Shares/Par Amortized Cost Amortized Cost Maturity Date
Cleveland-Cuyahoga Cnty Ohio Port Auth 3,000,000.0000 3,000,000.00 0.0% 06/01/2039
CO Health Facilities Authority 14,780,000.0000 14,780,000.00 0.1% 11/15/2034
Cobb County, GA Hsg Auth Multi Fam 500,000.0000 500,000.00 0.0% 06/01/2025
Colorado Edl & Cultural Facs Auth Rev 7,250,000.0000 7,250,000.00 0.1% 04/01/2038
Colorado Edl & Cultural Facs Auth Rev 195,000.0000 195,000.00 0.0% 10/01/2032
Colorado Edl&Cultural Facs Auth Rev 3,650,000.0000 3,650,000.00 0.0% 11/01/2038
Colorado Edl&Cultural Facs Rev 13,740,000.0000 13,740,000.00 0.1% 03/01/2037
Colorado Edl&CulturalFacs Auth Rev 4,385,000.0000 4,385,000.00 0.0% 06/01/2033
Colorado Educational & Cultural Edl. 360,000.0000 360,000.00 0.0% 02/01/2037
Colorado Educational Cultural Fac Auth 7,880,000.0000 7,880,000.00 0.1% 12/01/2035
COLORADO HEALTH FAC AUTH 14,890,000.0000 14,890,000.00 0.1% 08/01/2038
Colorado Health Fac Auth. 11,930,000.0000 11,930,000.00 0.1% 12/01/2025
Colorado Health Fac.Auth.Rev. 1,485,000.0000 1,485,000.00 0.0% 01/01/2037
Colorado Housing & Fin Auth Rev 5,310,000.0000 5,310,000.00 0.1% 05/01/2034
COLUMBUS OHIO, 3.66%, 09/01/2015 2,920,000.0000 2,920,000.00 0.0% 09/01/2020
COMMONWEALTH OF MASSACHUSETTS, 4.03%, 3/1/202664,305,000.0000 64,305,000.00 0.6% 03/01/2026
COMMONWEALTH OF PUERTO RICO 13,000,000.0000 13,058,223.62 0.1% 07/30/2009
COMMONWEALTH OF PUERTO RICO 10,000,000.0000 10,044,787.40 0.1% 07/30/2009
Connecticut Health & Ed Rev, Ser E 6,900,000.0000 6,900,000.00 0.1% 07/01/2038
CONNECTICUT HEALTH AND EDUCATION YALE UNIVERSITY T 9,890,000.0000 9,890,000.00 0.1% 08/27/2009
Connecticut St Hlth & Edl Facs Auth Rev 5,555,000.0000 5,555,000.00 0.1% 07/01/2030
Cook County Illinois G.O. 17,500,000.0000 17,582,833.94 0.2% 08/03/2009
COUNTY OF PLATTE, WY, 4.05%, 7/1/2014 24,400,000.0000 24,400,000.00 0.2% 07/01/2014
Crawford Texas Ed Facs Corp Rev 5,500,000.0000 5,500,000.00 0.1% 07/01/2028
Crawford Texas Ed Facs Corp Rev 5,375,000.0000 5,375,000.00 0.1% 05/01/2030
Cuyahoga Cnty OH Hlth Care Facs Rev 3,450,000.0000 3,450,000.00 0.0% 01/01/2034
Cuyahoga Cnty Ohio Rev 11,400,000.0000 11,400,000.00 0.1% 01/01/2039
Cuyahoga Cnty,OH Health Care 22,860,000.0000 22,860,000.00 0.2% 05/01/2042
Cuyahoga County Ohio Health Care 18,470,000.0000 18,470,000.00 0.2% 01/01/2032
Dallas TX Performing Arts Cultr Fac Rev 11,225,000.0000 11,225,000.00 0.1% 09/01/2041
Dallas TX Wtr&Swr Rev Tr Ctf 2007-23 20,000,000.0000 20,000,000.00 0.2% 09/01/2015
DE KALB CNTY GA HSG AUTH MULTIFAMILY HSG REV 36,100,000.0000 36,100,000.00 0.4% 12/01/2038
De Kalb Cnty,GA Hospital Rev Antic Ctfs 7,800,000.0000 7,800,000.00 0.1% 09/01/2035
Dearborn Cnty, Indiana Econ Dev Rev 14,800,000.0000 14,800,000.00 0.1% 04/01/2036
DeKalb County GA Hsg. Authority 4,300,000.0000 4,300,000.00 0.0% 06/01/2030
DeKalb County, GA Housing Auth Revenue 14,800,000.0000 14,800,000.00 0.1% 06/01/2025
Delaware Riv Port Auth PA & NJ Hwy Rev 23,000,000.0000 23,000,000.00 0.2% 01/01/2026
DISTRICT COLUMBIA REV 10,100,000.0000 10,100,000.00 0.1% 12/31/2049
DISTRICT OF COLUMBIA 15,500,000.0000 15,500,000.00 0.2% 07/01/2040
District of Columbia G.O. 13,205,000.0000 13,205,000.00 0.1% 06/01/2034
District of Columbia GO 42,000,000.0000 42,000,000.00 0.4% 06/01/2031
District of Columbia Rev 9,275,000.0000 9,275,000.00 0.1% 09/15/2029
District of Columbia Rev 9,015,000.0000 9,015,000.00 0.1% 09/15/2029
District of Columbia Rev 5,380,000.0000 5,380,000.00 0.1% 06/01/2032
District of Columbia Rev 12,220,000.0000 12,220,000.00 0.1% 08/01/2029
District of Columbia Wtr & Swr Revenue 7,590,000.0000 7,590,000.00 0.1% 10/01/2028
Durham Cnty NC Indl Facs Poll Ctl Rev 9,900,000.0000 9,900,000.00 0.1% 09/01/2037
Easley SC Util Rev 32,730,000.0000 32,730,000.00 0.3% 12/01/2034
East Baton Rouge Parish LA Sales Tax Rv 12,200,000.0000 12,200,000.00 0.1% 08/01/2030
East Bay CA Mun.Util.Dist. 39,820,000.0000 39,820,000.00 0.4% 06/01/2038
East Bay CA Mun.Util.Dist. 19,455,000.0000 19,455,000.00 0.2% 06/01/2038
Emery Cnty, UT Pollution Control 10,000,000.0000 10,000,000.00 0.1% 11/24/2024
Energy Northwest Wash Elec Rev 53,000,000.0000 53,000,000.00 0.5% 07/01/2018
Energy Northwest Wash Elec Rev 30,000,000.0000 30,000,000.00 0.3% 07/01/2018
Eutaw, AL I.D.B. Poll Cntl 6,550,000.0000 6,550,000.00 0.1% 12/01/2020
EVERETT PUBLIC FACS DISTRICT, 4.03%, 4/1/2036 1,400,000.0000 1,400,000.00 0.0% 04/01/2036
Fairfax Cnty VA Indl Dev Auth Rev 49,980,000.0000 49,980,000.00 0.5% 04/15/2035
Fairfax County, VA Ed Facs Rev Bds 20,000,000.0000 20,000,000.00 0.2% 08/01/2033
Farmington Hills MI Hosp Fin Rev 7,905,000.0000 7,905,000.00 0.1% 02/15/2038
Federal Home Loan Bank 200,000,000.0000 200,000,000.00 2.0% 04/01/2009
FL GAS UTIL REV VAR-GAS SUP PROJN0 2-A-2 8,100,000.0000 8,100,000.00 0.1% 06/15/2025
FLORIDA HOUSING FINANCE CORP. 5,815,000.0000 5,815,000.00 0.1% 07/01/2035
Florida Housing Finance Corporation 1,940,000.0000 1,940,000.00 0.0% 07/01/2031
Florida Hsg Fin Corp Multifam Rev 8,050,000.0000 8,050,000.00 0.1% 07/01/2031
Florida St Mun Pwr Agy Rev 15,000,000.0000 15,000,000.00 0.1% 10/01/2035
Florida St Mun Pwr Agy Rev 14,000,000.0000 14,000,000.00 0.1% 10/01/2030
Florida St.Brd.Ed.Pub.Ed. 7,000,000.0000 7,000,000.00 0.1% 06/01/2027
Florissant MO Indl Dev Auth Rev 6,845,000.0000 6,845,000.00 0.1% 09/01/2028
FORSYTH MONT POLLUTION CLTL REV RFDG 5,515,000.0000 5,515,000.00 0.1% 01/01/2018
Fort Mitchell, KY KY League of Cities 10,150,000.0000 10,150,000.00 0.1% 10/01/2032
Franklin Cnty Ohio Hosp Rev 16,480,000.0000 16,480,000.00 0.2% 11/15/2033
Franklin Cnty, OH Health Care Fac. 17,400,000.0000 17,400,000.00 0.2% 03/01/2036
Franklin County, OH Hosp Fac Rev Ref Bd 11,540,000.0000 11,540,000.00 0.1% 12/01/2020
Fredericksburg VA Econ Dev-Student Hsg 10,670,000.0000 10,670,000.00 0.1% 04/01/2029
Fridley Minn Sr Hsg Rev 8,700,000.0000 8,700,000.00 0.1% 12/15/2037
FULCO GA HOSPITAL AUTHORITY REV. ANTIC CTFS. 10,030,000.0000 10,030,000.00 0.1% 03/01/2024
Fulton Cnty GA Dev Auth Rev 3,500,000.0000 3,500,000.00 0.0% 05/01/2037
Fulton Cnty GA Dev Auth Rev 3,400,000.0000 3,400,000.00 0.0% 06/01/2032
Fulton Cnty Ga Dev Auth Rev 1,550,000.0000 1,550,000.00 0.0% 10/01/2027
Fulton Cnty.GA dev.Auth.Rev. 10,000,000.0000 10,000,000.00 0.1% 08/01/2024
Fulton County GA Residential 19,400,000.0000 19,400,000.00 0.2% 07/01/2017
Fulton County, GA Dev Auth Rev 7,600,000.0000 7,600,000.00 0.1% 05/01/2027
GAITHERSBURG, MD, 0.0%, 01/01/2036 4,900,000.0000 4,900,000.00 0.0% 01/01/2036
Georgia Muni.Ele.Auth. 57,050,000.0000 57,050,000.00 0.6% 01/01/2048
Gordon Cnty, GA Hospital Auth VRDB 690,000.0000 690,000.00 0.0% 11/15/2026
GRAND PRAIRIE TEX INDPT SCH DIST, 3.82%, 02/01/31 28,600,000.0000 28,600,000.00 0.3% 02/01/2031
NORTHERN FUNDS - MUNICIPAL MONEY MARKET FUND
Holdings as of March 31, 2009
% of
Security Shares/Par Amortized Cost Amortized Cost Maturity Date
Grand Prairie TX Indpt Sch Dist G.O. 18,950,000.0000 18,950,000.00 0.2% 08/01/2033
GRAND RAPIDS MICH ECONOMIC DEV CORP. 1,100,000.0000 1,100,000.00 0.0% 08/01/2017
Guilford Cnty NC G.O. 4,700,000.0000 4,700,000.00 0.0% 03/01/2025
GULF COAST WASTE DISP AUTH 31,600,000.0000 31,600,000.00 0.3% 10/01/2017
Gulf Coast Waste Disp. Auth. 12,725,000.0000 12,725,000.00 0.1% 10/01/2024
Gulf Coast, TX Wast Disp Auth 18,000,000.0000 18,000,000.00 0.2% 06/01/2020
Gwinett County, GA Mulitfam Hsg 25,800,000.0000 25,800,000.00 0.3% 07/01/2027
Gwinett County, GA Mulitfam Hsg 7,360,000.0000 7,360,000.00 0.1% 06/01/2025
Hampton VA RDV HSG Authority 14,510,000.0000 14,510,000.00 0.1% 10/01/2035
Hanover Cnty VA Econ Dev Auth Rev 6,900,000.0000 6,900,000.00 0.1% 11/01/2025
HARRIS CNTY TEX CULTIRAL ED FACS FIN CORP REV 58,100,000.0000 58,100,000.00 0.6% 12/01/2024
Harris Cnty TX Cultural Ed-Med Facs Rev 16,000,000.0000 16,000,000.00 0.2% 11/15/2035
Harris Cnty TX Hlth Facs Dev Corp Rev 1,000,000.0000 1,000,000.00 0.0% 12/01/2026
Harris Cnty TX Hlth Facs Dev Hosp Rev 29,500,000.0000 29,500,000.00 0.3% 11/15/2047
Harris Cnty TX Hlth Facs Dev Hosp Rev 13,100,000.0000 13,100,000.00 0.1% 11/15/2047
Harris County TX Ind Dev Corp PCR 9,000,000.0000 9,000,000.00 0.1% 03/01/2024
HARRISONBURG VA, 3.65%, 04/01/2036 11,490,000.0000 11,490,000.00 0.1% 04/01/2036
Haverford Twp PA Sch Dist G.O. 8,000,000.0000 8,000,000.00 0.1% 03/01/2030
Health Care Auth AL - Baptist Hlth Rev 15,545,000.0000 15,545,000.00 0.2% 11/01/2036
Henderson County, KY Revenue Bond 4,085,000.0000 4,085,000.00 0.0% 07/01/2012
HFDC Cent Tex Inc Retirement Fac Rev 6,450,000.0000 6,450,000.00 0.1% 02/15/2037
HFDC Cent TX Inc Retirement Fac Rev 3,275,000.0000 3,275,000.00 0.0% 11/01/2037
Highlands Cnty FL Health Facs Rev 6,629,000.0000 6,629,000.00 0.1% 11/15/2031
Highlands Cnty FL Hlth Facs Auth Rev 10,860,000.0000 10,860,000.00 0.1% 11/15/2037
Highlands Cnty FL Hlth Facs Auth Rev 35,505,000.0000 35,505,000.00 0.4% 11/15/2037
Highlands Cnty FL Hlth Facs Auth Rev 885,000.0000 885,000.00 0.0% 11/15/2009
Highlands Cnty FL Hlth Facs Auth Rev 10,725,000.0000 10,725,000.00 0.1% 11/15/2027
Highlands Cnty FL Hlth Facs Auth Rev 7,500,000.0000 7,500,000.00 0.1% 11/15/2034
Highlands Cnty FL Hlth Facs Auth Rev 11,875,000.0000 11,875,000.00 0.1% 11/15/2035
Highlands Cnty FL Hlth Facs Auth Rev 34,400,000.0000 34,400,000.00 0.3% 11/15/2037
Highlands Cnty FL Hlth Facs Auth Rev 67,000,000.0000 67,000,000.00 0.7% 11/15/2038
Highlands Cnty Florida VRDNs 5,000,000.0000 5,000,000.00 0.0% 11/15/2035
Highlands Cnty, FL Health Facs Auth Rev 10,805,000.0000 10,805,000.00 0.1% 11/15/2012
Highlands Co.Hlth.Fac.Auth.-FL 18,980,000.0000 18,980,000.00 0.2% 11/15/2027
HIGHLANDS CTY FL HEALTH FAC, 11/15/2026 27,025,000.0000 27,025,000.00 0.3% 11/15/2026
Hillsborough Cnty FL Ind Dev Auth Rev 9,600,000.0000 9,600,000.00 0.1% 08/15/2032
Hillsborough Cnty FL Indl Dev Hlth Care 5,500,000.0000 5,500,000.00 0.1% 02/01/2035
Horizon Hosp Sys Auth PA Hlth Rev 7,800,000.0000 7,800,000.00 0.1% 07/01/2037
HOUSTON, TX INDPT SCHOOL DIST. 45,375,000.0000 45,375,000.00 0.4% 06/15/2031
Hudson Yds Infrastructure Corp NY Rev 75,000,000.0000 75,000,000.00 0.7% 02/15/2047
HUNTSVILLE RANDOLPH DUE 2/1/38 8,500,000.0000 8,500,000.00 0.1% 02/01/2038
Hurley New Mexico Poll.Ctrl. 23,300,000.0000 23,300,000.00 0.2% 12/01/2015
Idaho Health Facs Auth Rev 10,000,000.0000 10,000,000.00 0.1% 11/01/2043
Idaho Health Facs Auth Rev 13,000,000.0000 13,000,000.00 0.1% 11/01/2043
IL Ed Facs Auth Revs 10,000,000.0000 10,000,000.00 0.1% 10/01/2031
IL Ed Facs Auth (AMT) 13,200,000.0000 13,200,000.00 0.1% 03/01/2032
IL Fin.Dev.Auth.Rev. 10,075,000.0000 10,075,000.00 0.1% 06/01/2040
IL Health Fac Auth Rev Bds 9,425,000.0000 9,425,000.00 0.1% 11/15/2022
Illinois Dev Fin Auth Indl Dev Rev 1,700,000.0000 1,700,000.00 0.0% 09/01/2024
Illinois Dev Fin Auth Rev 9,000,000.0000 9,000,000.00 0.1% 10/01/2028
Illinois Dev Fin Auth Rev 2,655,000.0000 2,655,000.00 0.0% 09/01/2028
Illinois Dev Fin Auth Rev 2,830,000.0000 2,830,000.00 0.0% 09/01/2033
Illinois Dev.Fin.Auth.Rev 5,685,000.0000 5,685,000.00 0.1% 09/01/2028
Illinois Dev.Fin.Auth.Rev. 6,200,000.0000 6,200,000.00 0.1% 07/01/2038
Illinois Ed. Fac.Auth.Student Housing 19,195,000.0000 19,195,000.00 0.2% 06/01/2033
Illinois Ed.Fac.-Northwestern U 7,005,000.0000 7,005,000.00 0.1% 12/01/2038
Illinois Educational Facs Auth Rev 8,265,000.0000 8,265,000.00 0.1% 07/01/2036
Illinois Fin Auth Multifam 5,400,000.0000 5,400,000.00 0.1% 05/01/2035
Illinois Fin Auth Rev 2,695,000.0000 2,695,000.00 0.0% 02/15/2035
Illinois Fin Auth Rev 21,545,000.0000 21,545,000.00 0.2% 11/01/2039
Illinois Fin Auth Rev 12,500,000.0000 12,500,000.00 0.1% 08/15/2042
Illinois Fin Auth Rev 12,800,000.0000 12,800,000.00 0.1% 11/01/2038
Illinois Fin Auth Rev 22,800,000.0000 22,800,000.00 0.2% 11/01/2022
Illinois Fin Auth Rev 9,430,000.0000 9,430,000.00 0.1% 06/30/2009
Illinois Fin Auth Rev 9,440,000.0000 9,440,000.00 0.1% 09/01/2038
Illinois Fin Auth Rev 5,700,000.0000 5,700,000.00 0.1% 07/01/2032
Illinois Fin Auth Rev 8,270,000.0000 8,270,000.00 0.1% 06/30/2009
Illinois Fin Auth Rev 4,200,000.0000 4,200,000.00 0.0% 08/15/2026
Illinois Fin Auth Rev 6,100,000.0000 6,100,000.00 0.1% 02/15/2033
Illinois Fin Auth Rev 5,650,000.0000 5,650,000.00 0.1% 03/01/2039
Illinois Fin Auth Rev Mand Put 4/1/09 17,055,000.0000 17,055,000.00 0.2% 04/01/2009
ILLINOIS FIN AUTH REV, 04/01/2041 40,700,000.0000 40,700,000.00 0.4% 04/01/2041
Illinois Fin.Auth.Rev. 2,000,000.0000 2,000,000.00 0.0% 07/01/2034
Illinois Fin.Auth.Rev. 10,800,000.0000 10,800,000.00 0.1% 08/15/2038
Illinois Fin.Auth.Rev. 14,450,000.0000 14,450,000.00 0.1% 02/15/2037
Illinois Fin.Auth.Rev. 17,700,000.0000 17,700,000.00 0.2% 05/15/2037
Illinois Fin.Auth.Rev. 11,200,000.0000 11,200,000.00 0.1% 06/01/2030
ILLINOIS FINANCE AUTHORITY 16,725,000.0000 16,725,000.00 0.2% 05/15/2037
Illinois Finance Authority Rev 35,700,000.0000 35,700,000.00 0.4% 05/15/2038
ILLINOIS FINANCE AUTHORITY REV 21,500,000.0000 21,500,000.00 0.2% 10/01/2040
Illinois Housing Authority VRDNs 15,125,000.0000 15,125,000.00 0.1% 10/01/2040
Illinois Housing Dev Auth Multifam Rev 12,560,000.0000 12,560,000.00 0.1% 07/01/2027
Illinois Hsg Dev Multifamily Hsg Rev 7,570,000.0000 7,570,000.00 0.1% 09/01/2043
Illinois St Toll Hwy Auth Hwr Rev 21,500,000.0000 21,500,000.00 0.2% 07/01/2030
Illinois St Toll Hwy Auth Toll Hwy Rev 50,000,000.0000 50,000,000.00 0.5% 01/01/2031
Illinois St Toll Hwy Auth Toll Hwy Rev 148,600,000.0000 148,600,000.00 1.5% 01/01/2031
NORTHERN FUNDS - MUNICIPAL MONEY MARKET FUND
Holdings as of March 31, 2009
% of
Security Shares/Par Amortized Cost Amortized Cost Maturity Date
Illinois State Sales Tax 3,500,000.0000 3,500,000.00 0.0% 06/15/2022
IN Hlth Fac Auth Rev 10,489,000.0000 10,489,000.00 0.1% 09/01/2030
Indiana Bd Bk Rev 24,900,000.0000 25,069,297.36 0.2% 01/05/2010
Indiana Bond Bank Rev 24,005,000.0000 24,048,194.09 0.2% 05/28/2009
Indiana Fin Auth Health Sys Rev 23,400,000.0000 23,400,000.00 0.2% 09/01/2048
Indiana Fin Auth Hosp Rev 12,200,000.0000 12,200,000.00 0.1% 03/01/2033
Indiana Fin Auth Hosp Rev 6,800,000.0000 6,800,000.00 0.1% 08/01/2029
Indiana Health & Ed Fac Fin Auth Rev 6,000,000.0000 6,000,000.00 0.1% 08/01/2028
Indiana Health&Ed Fac Fing Auth Rev 6,915,000.0000 6,915,000.00 0.1% 08/01/2036
Indiana Hlth & Edl Fac Fing Auth Rev 7,950,000.0000 7,950,000.00 0.1% 02/15/2030
Indiana Hlth Fac fin Auth 1,400,000.0000 1,400,000.00 0.0% 12/01/2029
Indiana Mun Pwr Supply Sys Agy Rev 15,435,000.0000 15,435,000.00 0.2% 01/01/2015
Indiana St Dev Fin Auth PCR 11,550,000.0000 11,550,000.00 0.1% 03/01/2025
Indiana St Fin Auth Rev 21,400,000.0000 21,400,000.00 0.2% 12/01/2033
Indiana St Fin Auth Rev 11,450,000.0000 11,450,000.00 0.1% 12/01/2033
Indiana State Dev. Auth Indl Rev Bonds 1,400,000.0000 1,400,000.00 0.0%
Indianapolis IN Multifamily Hsg Rev 10,600,000.0000 10,600,000.00 0.1% 05/15/2038
Intermountain Pwr Agency UT 8,780,000.0000 8,780,000.00 0.1% 07/01/2014
Iowa Fin Auth Economic Dev Rev 955,000.0000 955,000.00 0.0% 01/01/2032
Iowa Fin Auth Health Facs Rev 4,900,000.0000 4,900,000.00 0.0% 02/15/2035
Iowa Fin Auth Health Facs Rev 9,000,000.0000 9,000,000.00 0.1% 02/15/2035
Iowa Fin Auth Hlth Facs Rev 15,420,000.0000 15,420,000.00 0.2% 02/15/2035
IOWA FINANCE AUTHORITY, 4.03%, 11/1/2032 1,235,000.0000 1,235,000.00 0.0% 11/01/2032
Iowa Higher Ed Ln Auth Rev 15,050,000.0000 15,050,000.00 0.1% 11/01/2030
Iowa St Sch Cash Antic Prog 14,500,000.0000 14,558,069.71 0.1% 06/25/2009
Iowa St Sch Cash Antic Program Rev Nts 14,000,000.0000 14,246,894.79 0.1% 01/21/2010
Irving, TX ISD Schl Dist 15,850,000.0000 15,850,000.00 0.2% 02/01/2033
JACKSON CNTY MISS POLLUTN CTL REV 5,200,000.0000 5,200,000.00 0.1% 12/01/2016
JACKSON CNTY, MI, ECON DEV, 11/01/2031 9,540,000.0000 9,540,000.00 0.1% 11/01/2031
Jacksonville Elec.Pwr, FL Rev 12,100,000.0000 12,100,000.00 0.1% 10/01/2040
Jacksonville FL Trans Rev 36,000,000.0000 36,000,000.00 0.4% 10/01/2027
JEA FL Elec Sys Rev 60,000,000.0000 60,000,000.00 0.6% 10/01/2036
Jea Florida Wtr & Swr Sys Rev 9,800,000.0000 9,800,000.00 0.1% 10/01/2036
Kane Cty, IL Adj Demand Rev Bds 5,700,000.0000 5,700,000.00 0.1% 02/01/2028
Kansas City, MO Industrial Dev Auth 10,100,000.0000 10,100,000.00 0.1% 11/01/2030
Kansas St Dept Transn Hwy Rev 8,400,000.0000 8,400,000.00 0.1% 09/01/2022
KANSAS ST. FEV FIN AUTH, 11/15/2028 4,710,000.0000 4,710,000.00 0.0% 11/15/2028
Kansas State Dept Transport. 8,675,000.0000 8,675,000.00 0.1% 09/01/2023
Katy, TX Indpt.Schl.Dist. 14,200,000.0000 14,200,000.00 0.1% 08/15/2036
Kent State Univ Ohio-Univ Rev 9,100,000.0000 9,100,000.00 0.1% 05/01/2028
Kentucky Asset/Liab Commn Gen Fd Rev 15,000,000.0000 15,041,872.56 0.1% 06/25/2009
Kentucky Econ Dev Fin Auth Hosp Facs Rv 15,000,000.0000 15,000,000.00 0.1% 08/15/2038
Kentucky Econ Dev Fin Auth Hosp Facs Rv 7,655,000.0000 7,655,000.00 0.1% 08/15/2038
Kentucky Econ Dev Fin Auth Med Ctr Rev 1,900,000.0000 1,900,000.00 0.0% 01/01/2038
Kentucky Econ Dev Fin Auth Rev 4,015,000.0000 4,015,000.00 0.0% 09/01/2021
Kentucky Economic Dev Rev Fin Auth Rev 7,705,000.0000 7,705,000.00 0.1% 09/01/2028
KENTWOOD, MI ECONOMIC DEV CORP., 11/01/2032 9,685,000.0000 9,685,000.00 0.1% 11/01/2032
Knox Cnty Tenn Hlth Edl &Hsg Hosp Rev 5,000,000.0000 5,000,000.00 0.0% 01/01/2046
Knox County, TN Hlth, Ed,&Hsng(Taxable) 2,235,000.0000 2,235,000.00 0.0% 11/01/2010
KS Developemnt Finance Authority 1,800,000.0000 1,800,000.00 0.0% 11/15/2030
L.A. Dept. of Water & Power, 1.15%, 4/3/2003 2,800,000.0000 2,800,000.00 0.0% 07/01/2035
Lafayette LA Econ Dev Auth Gulf Opp Rev 7,350,000.0000 7,350,000.00 0.1% 02/01/2038
Lake Cnty FL Cap Impt Rev 20,290,000.0000 20,290,000.00 0.2% 06/01/2037
Lancaster Port Auth Ohio Gas Rev 29,700,000.0000 29,700,000.00 0.3% 05/01/2038
Las Vegas, NV Water District 8,200,000.0000 8,200,000.00 0.1% 06/01/2036
LasVegas, NV Economic Dev. 41,300,000.0000 41,300,000.00 0.4% 05/01/2037
LEE COUNTY INDUSTRIAL DEVELOPMENT 21,990,000.0000 21,990,000.00 0.2% 11/01/2029
Lee Memorial Hlth Sys FL Hosp Rev 5,000,000.0000 5,000,000.00 0.0% 04/01/2027
Lincoln Cnty WY Pollution Control 14,690,000.0000 14,690,000.00 0.1% 11/01/2014
LINCOLN COUNTY WYO POLLUTION CTL REV BONDS 15,950,000.0000 15,950,000.00 0.2% 11/01/2014
LOUDOUN CO, VA IDA MES RES ORG, 2/15/38 41,330,000.0000 41,330,000.00 0.4% 02/15/2038
Louisiana Loc Govt Envir Facs Cmnty Dev 1,000,000.0000 1,000,000.00 0.0%
Louisiana Pub Facs Auth Rev 10,000,000.0000 10,000,000.00 0.1% 06/01/2037
Louisiana Pub Facs Auth Rev 16,000,000.0000 16,000,000.00 0.2% 03/01/2040
Louisiana Pub Facs Auth Rev 15,000,000.0000 15,000,000.00 0.1% 08/01/2023
Louisiana Pub Facs Auth Rev 15,000,000.0000 15,000,000.00 0.1% 10/01/2033
Louisiana Pub Facs Auth Rev 7,900,000.0000 7,900,000.00 0.1% 07/01/2031
Louisiana Public Facilities Authority 20,150,000.0000 20,150,000.00 0.2% 12/01/2010
LOUISIANA ST OFFSHORE, 3.44%, 09/01/2027 54,020,000.0000 54,020,000.00 0.5% 09/01/2027
Louisiana State Muni 42,644,000.0000 42,644,000.00 0.4% 03/15/2014
Louisiana State Offshore Term Deepwtr 5,700,000.0000 5,700,000.00 0.1% 09/01/2014
Lower CO Riv Auth TX Transm Contract 2,705,000.0000 2,705,000.00 0.0% 05/15/2013
Lower Merion PA Sch Dist G.O. 4,000,000.0000 4,000,000.00 0.0% 04/01/2027
Lower Merion PA Sch Dist G.O. 9,000,000.0000 9,000,000.00 0.1% 04/01/2027
Lower Neches, TX Valley Auth IDR 8,450,000.0000 8,450,000.00 0.1% 11/01/2029
Lowry Economic Redev Auth Colo Rev 7,000,000.0000 7,000,000.00 0.1% 12/01/2020
Lubbock TX Hlth Facs Dev Corp Rev 66,160,000.0000 66,160,000.00 0.7% 07/01/2023
Lynchburg VA Indl Dev Auth Hosp Rev 5,900,000.0000 5,900,000.00 0.1% 01/01/2028
MA St. Dev Fin Auth 4,600,000.0000 4,600,000.00 0.0% 07/01/2033
MA State Dev Fin Agy Rev 7,500,000.0000 7,500,000.00 0.1%
Macon,GA Water Authority 8,700,000.0000 8,700,000.00 0.1% 10/01/2021
Mankato, MN Multifam 7,285,000.0000 7,285,000.00 0.1%
Manor Texas Indpt Sch Dist G.O. 11,235,000.0000 11,235,000.00 0.1% 08/01/2036
Maple Grove, MN Econ Dev 5,435,000.0000 5,435,000.00 0.1% 07/01/2029
Marshall Cnounty Econ Dev Rev Bds, IN 22,700,000.0000 22,700,000.00 0.2% 01/01/2035
Maryland Health & Higher Ed 3,200,000.0000 3,200,000.00 0.0% 04/01/2035
NORTHERN FUNDS - MUNICIPAL MONEY MARKET FUND
Holdings as of March 31, 2009
% of
Security Shares/Par Amortized Cost Amortized Cost Maturity Date
MARYLAND SATE HEALTH & HIGHER ED. FACS. AUTH REV11,900,000.0000 11,900,000.00 0.1% 01/01/2032
Maryland St Econ Dev Corp Rev 3,075,000.0000 3,075,000.00 0.0% 11/01/2022
Maryland St Economic Dev Corp Rev 6,260,000.0000 6,260,000.00 0.1% 09/01/2038
Maryland St Economic Dev Corp Rev 7,500,000.0000 7,500,000.00 0.1% 02/15/2043
Maryland St Hlth&Hghr Ed Facs Auth Rev 9,000,000.0000 9,000,000.00 0.1% 07/01/2036
Maryland St Hlth&Hghr Ed Facs Auth Rev 13,600,000.0000 13,600,000.00 0.1% 07/01/2041
Maryland St Hlth&Hghr Ed Facs Auth Rev 10,800,000.0000 10,800,000.00 0.1% 07/01/2035
Maryland St Hlth&Hghr Ed Facs Auth Rev 8,325,000.0000 8,325,000.00 0.1% 07/01/2032
Maryland St Hlth&Hghr Ed Facs Auth Rev 8,800,000.0000 8,800,000.00 0.1% 01/01/2033
Maryland St. Hlth & Higher Ed 13,800,000.0000 13,800,000.00 0.1% 01/01/2021
MASSACHUSETTS BAY TRANS AUTH MASS SALES 6,000,000.0000 6,000,000.00 0.1% 05/14/2009
Massachusetts Hlth&Edl Facs Auth Rev 14,615,000.0000 14,615,000.00 0.1% 10/01/2028
Massachusetts St Dev Fin Agy Rev 19,200,000.0000 19,200,000.00 0.2% 09/01/2033
Massachusetts St Dev Fin Agy Rev 45,000,000.0000 45,000,000.00 0.4% 10/01/2042
Massachusetts St Dev Fin Agy Rev 4,900,000.0000 4,900,000.00 0.0% 09/01/2038
Massachusetts St Dev Fin Agy Rev 4,000,000.0000 4,000,000.00 0.0% 09/01/2038
Massachusetts St Dev Fin Agy Rev 10,000,000.0000 10,000,000.00 0.1% 10/01/2040
Massachusetts St Dev Fin Agy Rev 20,540,000.0000 20,540,000.00 0.2% 05/15/2039
Massachusetts St Dev Fin Agy Rev 6,000,000.0000 6,000,000.00 0.1% 03/01/2027
Massachusetts St Dev Fin Agy Rev 5,000,000.0000 5,000,000.00 0.0% 06/01/2037
MASSACHUSETTS ST DEV FIN AGY REV VAR RT 3,465,000.0000 3,465,000.00 0.0% 06/01/2034
Massachusetts St Hlth&Ed Facs Auth Rev 8,000,000.0000 8,000,000.00 0.1% 07/01/2027
Massachusetts St Wtr Res Auth Rev 15,200,000.0000 15,200,000.00 0.1% 08/01/2029
Massachusetts St Wtr Res Auth Rev 61,000,000.0000 61,000,000.00 0.6% 08/01/2037
McLean County, IL G.O. Demand Notes 4,750,000.0000 4,750,000.00 0.0% 06/01/2023
Mecklenburg Cnty NC Ctfs Partn 39,825,000.0000 39,825,000.00 0.4% 02/01/2028
Met Gov., TN Nashville & Davidson 2,155,000.0000 2,155,000.00 0.0% 12/01/2027
Met Govt Nashville&Davidson Tenn Rev 1,150,000.0000 1,150,000.00 0.0% 08/15/2032
Met Govt,TN, Nashville & Davidson Cnty 12,155,000.0000 12,155,000.00 0.1%
Met Nashville & Nashville Health & Ed. 1,780,000.0000 1,780,000.00 0.0% 11/15/2026
Met Water District of Southern CAL 15,000,000.0000 15,000,000.00 0.1% 04/01/2031
Met Water District of Southern CAL 26,100,000.0000 26,100,000.00 0.3%
Met.Gov.Nashville&Davidson,TN 1,000,000.0000 1,000,000.00 0.0% 05/01/2023
Metro Govt Nashville-Davidson TN Rev 1,500,000.0000 1,500,000.00 0.0% 11/15/2027
Metro Govt TN Nashville&Davidson Rev 5,525,000.0000 5,525,000.00 0.1% 09/01/2034
Metro NY Transn Dedicated Tax Fd Rev 10,225,000.0000 10,225,000.00 0.1% 11/01/2034
Metro Transit Authority of New York 2,150,000.0000 2,150,000.00 0.0% 11/01/2022
Metro Transn Auth NY Transn Rev TECP 70,000,000.0000 70,000,000.00 0.7% 05/05/2009
Metro Transn Auth NY Transn Rev TECP 41,000,000.0000 41,000,000.00 0.4% 05/05/2009
Metropolitan Trans Auth. 88,975,000.0000 88,975,000.00 0.9% 11/01/2031
Metropolitan Transn Auth NY Rev 8,330,000.0000 8,330,000.00 0.1% 11/01/2026
Metropolitan Water District of SO Cal 3,700,000.0000 3,700,000.00 0.0% 07/01/2036
MFO AIM SHORT TERM INVESTMENT 0.8000 0.80 0.0%
Michigan St Dtrategic Fund 13,625,000.0000 13,625,000.00 0.1%
Michigan St Hosp Fin Auth Rev 7,500,000.0000 7,500,000.00 0.1% 10/15/2038
Michigan St Hosp Fin Auth Rev 16,000,000.0000 16,000,000.00 0.2% 06/01/2022
Michigan St Strategic Fd Ltd Oblig Rev 9,200,000.0000 9,200,000.00 0.1% 04/15/2018
Michigan St Strategic Fd Ltd Oblig Rev 2,475,000.0000 2,475,000.00 0.0% 08/01/2029
Michigan St.Strat. Fd LTD. 2,295,000.0000 2,295,000.00 0.0%
Michigan State Strategic Rev 3,115,000.0000 3,115,000.00 0.0% 08/01/2028
Milwaukee WI Redev Auth Rev 9,225,000.0000 9,225,000.00 0.1% 10/01/2036
Mineapolis, MN 1,960,000.0000 1,960,000.00 0.0% 10/01/2021
Minneapolis MN Hlth Care Sys Rev 5,800,000.0000 5,800,000.00 0.1% 11/15/2047
Minneapolis MN Hlth Care Sys Rev 2,300,000.0000 2,300,000.00 0.0% 11/15/2047
Minnesota Agric&Econ Dev Brd Rev 6,900,000.0000 6,900,000.00 0.1% 02/15/2030
Minnesota St Higher Ed Facs Auth Rev 9,915,000.0000 9,915,000.00 0.1% 04/01/2037
Mississippi Bus Fin Corp Gulf Opp Zone 27,000,000.0000 27,000,000.00 0.3% 12/01/2030
Mississippi Bus Fin Corp Gulf Opp Zone 10,000,000.0000 10,000,000.00 0.1% 12/01/2030
Mississippi Bus Fin Gulf Opp Zone Rev 25,600,000.0000 25,600,000.00 0.3% 12/01/2030
Mississippi Business Fin Corp Miss Rev 7,570,000.0000 7,570,000.00 0.1% 01/01/2033
Mississippi Business Fin Corp Miss Rev 13,180,000.0000 13,180,000.00 0.1% 11/01/2037
Mississippi Business Fin Corp Rev 48,800,000.0000 48,800,000.00 0.5% 11/01/2032
Mississippi Business Finance Corp 17,000,000.0000 17,000,000.00 0.2% 12/01/2036
Mississippi Dev.Bank 33,800,000.0000 33,800,000.00 0.3% 03/01/2023
MISSOURI HEALTH & EDUCATIONAL, 4.01%, 10/1/2024 2,200,000.0000 2,200,000.00 0.0% 10/01/2024
Missouri Jt Mun Elec Util Pwr Proj Rev 20,610,000.0000 20,610,000.00 0.2% 01/01/2032
Missouri St Health&Ed Facs Rev 7,400,000.0000 7,400,000.00 0.1% 05/15/2032
Missouri St Hlth&Ed Facs Auth Ed Rev 21,740,000.0000 21,740,000.00 0.2% 07/01/2029
Missouri St Hlth&Ed Facs Auth Hlth Rev 8,600,000.0000 8,600,000.00 0.1% 06/01/2033
Missouri St Hlth&Edl Facs Auth Hlth Rev 10,300,000.0000 10,300,000.00 0.1% 06/01/2039
Missouri St Hlth&Edl Facs Auth Rev 3,300,000.0000 3,300,000.00 0.0% 02/01/2033
Missouri St. Hlth&Ed. Auth. Rev. 24,115,000.0000 24,115,000.00 0.2% 02/01/2031
MO St. Dev Fin Brd Infrastructure Facs 8,200,000.0000 8,200,000.00 0.1% 12/01/2020
MO ST. HEALTH & ED FACS 9,525,000.0000 9,525,000.00 0.1%
Mobile, AL Spring Hill College 13,000,000.0000 13,000,000.00 0.1% 09/01/2024
Monongalia Cnty W.VA Bldng.Comm. 12,775,000.0000 12,775,000.00 0.1% 07/01/2036
Monroe Cnty GA Dev Auth Pollutn Ctl Rev 10,000,000.0000 10,000,000.00 0.1% 12/01/2041
Monroe Cnty NY Indl Dev Civic Fac Rev 2,000,000.0000 2,000,000.00 0.0% 01/01/2033
REV
MONROE COUNTY GA DEV AUTH POLLUTION CONTROL 25,315,000.0000 25,315,000.00 0.2% 11/01/2048
Montgomery Cnty.Tenn.Pub.Bldg.Auth. 7,050,000.0000 7,050,000.00 0.1% 07/01/2034
Montgomery Cntyu, MD Econ Dev Rev 32,510,000.0000 32,510,000.00 0.3% 03/01/2034
Morehead, KY League of Cities 9,939,000.0000 9,939,000.00 0.1% 06/01/2034
MT.VERNON IND. POLL CNTRL AND SOLID WASTE 6,215,000.0000 6,215,000.00 0.1% 12/01/2014
Municipal Energy Acquistn Tenn Gas Rev 46,550,000.0000 46,550,000.00 0.5% 06/01/2009
Nebraska Edl Fin Auth Rev 4,000,000.0000 4,000,000.00 0.0% 07/01/2035
NEW HAMPSHIRE HEALTH & ED 5,225,000.0000 5,225,000.00 0.1% 01/01/2030
NORTHERN FUNDS - MUNICIPAL MONEY MARKET FUND
Holdings as of March 31, 2009
% of
Security Shares/Par Amortized Cost Amortized Cost Maturity Date
New Hampshire Hlth&Ed Facs Auth Rev 22,500,000.0000 22,500,000.00 0.2% 09/01/2042
New Hampshire Hlth&Ed Facs Auth Rev 3,000,000.0000 3,000,000.00 0.0% 06/01/2038
New Hanover County, NC 2,250,000.0000 2,250,000.00 0.0% 03/01/2013
New Jersey Economic Dev Auth Rev 6,500,000.0000 6,500,000.00 0.1% 08/01/2037
New Mexico Fin Auth St Transn Rev 2,800,000.0000 2,800,000.00 0.0% 12/15/2026
New Mexico Fin Auth St Transn Rev 8,800,000.0000 8,800,000.00 0.1% 12/15/2026
New Mexico St Hosp Equip Ln Council Rev 18,000,000.0000 18,000,000.00 0.2% 08/01/2034
New York City NY (Daily) 14,240,000.0000 14,240,000.00 0.1% 01/01/2036
New York City, NY Hsng.Dev.Corp. 2,100,000.0000 2,100,000.00 0.0% 11/15/2019
New York NY City Mun Fin Wtr&Swr Rev 34,000,000.0000 34,000,000.00 0.3% 06/15/2035
New York NY City Mun Fin Wtr&Swr Rev 3,400,000.0000 3,400,000.00 0.0% 06/15/2024
New York NY City Mun Wtr&Swr Rev 3,300,000.0000 3,300,000.00 0.0% 06/15/2024
New York NY City Tr Cultural Res Rev 3,750,000.0000 3,750,000.00 0.0% 11/01/2038
New York NY G.O. 2,000,000.0000 2,000,000.00 0.0% 04/01/2038
New York NYC Muni Water Finance 2,600,000.0000 2,600,000.00 0.0% 06/15/2032
New York St Dorm Auth Rev 8,000,000.0000 8,000,000.00 0.1% 07/01/2037
New York St Dorm Auth Rev St Supp Debt 5,000,000.0000 5,000,000.00 0.0% 07/01/2031
NEW YORK ST HSG FIN AGY REV BDS 11,900,000.0000 11,900,000.00 0.1% 05/15/2034
New York St Urban Dev Corp Rev 4,000,000.0000 4,000,000.00 0.0% 03/15/2033
NEW YORK ST URBAN DEV CORP., 1.78%, 03/15/2033 19,500,000.0000 19,500,000.00 0.2% 03/15/2033
New York State Dorm Auth VRDNs 3,600,000.0000 3,600,000.00 0.0% 07/01/2028
NEWPORT NEWS VA REDEV & HSG AUTH 13,200,000.0000 13,200,000.00 0.1% 09/01/2026
North Broward FL Hosp Dist Rev 17,100,000.0000 17,100,000.00 0.2% 01/15/2031
North Carolina Cap Facs Fin Agy Edl Rev 6,500,000.0000 6,500,000.00 0.1% 10/01/2028
North Carolina Cap Recreational Fac Rev 14,600,000.0000 14,600,000.00 0.1% 04/01/2029
North Carolina Cap.Fac.-Duke U. 12,000,000.0000 12,000,000.00 0.1% 10/01/2041
North Carolina Med Care Commn Hlth Rev 4,900,000.0000 4,900,000.00 0.0% 12/01/2036
North Carolina Med Care Commn Hlth Rev 7,600,000.0000 7,600,000.00 0.1% 12/01/2028
North Carolina Med Care Commn Hosp Rev 11,000,000.0000 11,000,000.00 0.1% 12/01/2025
NORTH CAROLINA MED CARE, 01/01/2037 6,500,000.0000 6,500,000.00 0.1% 01/01/2037
North Carolina Med Center HealthCare 9,100,000.0000 9,100,000.00 0.1% 10/01/2035
North Carolina Medical Care Cmnty 50,000,000.0000 50,000,000.00 0.5% 06/01/2028
NORTH CENT TEX HEALTH FAC DEV CORP 60,990,000.0000 60,990,000.00 0.6% 08/15/2013
NORTHWEST TEX INDPT SCH DIST., 3.85%, 02/15/2015 3,970,000.0000 3,970,000.00 0.0% 02/15/2015
NY City Ind.Dev.Agy.Civic Ctr. 2,000,000.0000 2,000,000.00 0.0% 06/01/2028
Oakbend Med Ctr. 7,000,000.0000 7,000,000.00 0.1% 12/01/2038
Oconee Cnty SC, Pol.Ctr.Rev. 42,250,000.0000 42,250,000.00 0.4% 02/01/2017
Ohio Hsng. Fin.Agy.Multi.Fam. 6,351,000.0000 6,351,000.00 0.1% 11/15/2032
OHIO ST AIR QUALITY DEV AUTH, 0.0%, 12/01/2023 60,900,000.0000 60,900,000.00 0.6% 12/01/2023
Ohio St Hghr Ed Fac Commn Rev 3,550,000.0000 3,550,000.00 0.0% 01/01/2043
Ohio St Higher Edl Fac Rev 13,300,000.0000 13,300,000.00 0.1% 12/01/2037
Ohio St Higher Edl Fac Rev 29,500,000.0000 29,500,000.00 0.3% 06/01/2032
Ohio St Univ Gen Rcpts Rev 22,000,000.0000 22,000,000.00 0.2% 12/01/2028
Olathe KS SR Living Fac Rev 6,300,000.0000 6,300,000.00 0.1% 11/15/2038
Omaha Pub Pwr Dist Neb Separate Elec Rv 27,760,000.0000 27,760,000.00 0.3% 02/01/2046
Onondaga Cnty, NY Ind Dev Agy 7,435,000.0000 7,435,000.00 0.1% 12/01/2031
Orange Cnty FL Hlth Fac Auth Rev 9,700,000.0000 9,700,000.00 0.1% 11/15/2036
Orange Cnty FL Hlth Facs Auth Rev 5,000,000.0000 5,000,000.00 0.0% 10/01/2026
Orange Cnty FL Hlth Facs Auth Rev 5,500,000.0000 5,500,000.00 0.1% 10/01/2026
Orange Cnty FL Hlth Facs Auth Rev 14,100,000.0000 14,100,000.00 0.1% 10/01/2026
Orange Cnty FL Hsg Fin Auth Multifam Rv 10,000,000.0000 10,000,000.00 0.1% 08/15/2031
Orange Cnty FL Sch Brd Ctfs Partn 60,400,000.0000 60,400,000.00 0.6% 08/01/2032
Orange Cnty FL Sch Brd Ctfs Partn 11,700,000.0000 11,700,000.00 0.1% 08/01/2025
Orange Cnty, CA Sanitation Dist 2000-A 13,875,000.0000 13,875,000.00 0.1% 08/01/2029
Orange Cnty, FL Health Fac Auth VRDB 14,200,000.0000 14,200,000.00 0.1% 11/15/2026
Orange Cnty, FL Hsng Fin Auth 20,650,000.0000 20,650,000.00 0.2% 06/01/2025
Orange County, CA Housing Authority 4,200,000.0000 4,200,000.00 0.0% 06/15/2028
Oregon Hlth Hsg Ed & Cult Fac Auth 2,500,000.0000 2,500,000.00 0.0% 03/01/2020
Oregon St Facs Auth Rev 13,100,000.0000 13,100,000.00 0.1% 08/01/2034
Oregon State Fac.Auth. 19,900,000.0000 19,900,000.00 0.2% 07/15/2035
Orlando FL Utils Commn Wtr & Elec Rev 25,400,000.0000 25,400,000.00 0.3% 10/01/2022
PALM BEACH CNTY, FL SCHOOL BRD CERTS 1,150,000.0000 1,150,000.00 0.0% 08/01/2027
Palm Beach County, FL Health Facs 2,400,000.0000 2,400,000.00 0.0% 12/01/2031
PARK CITY UTAH REV, 0%, 04/01/2027 3,380,000.0000 3,380,000.00 0.0% 04/01/2027
Pembroke Pines FL Charter School Rev 10,000,000.0000 10,000,000.00 0.1% 07/01/2038
Pennsylvania Hsg Fin Agy Multifam Rev 4,300,000.0000 4,300,000.00 0.0% 05/01/2046
Pennsylvania St. Tpk Comm.Rev 10,000,000.0000 10,000,000.00 0.1% 12/01/2012
Philadelphia PA Hosps&Hghr Ed Fac Rev 15,000,000.0000 15,000,000.00 0.1% 07/01/2032
Phoenix, AZ IDA Multifam Hsg Rev 5,900,000.0000 5,900,000.00 0.1% 05/15/2029
Piedmont SC Mun Pwr Agy Elec Rev 20,900,000.0000 20,900,000.00 0.2% 01/01/2034
Pima Cnty, AZ IDA 8,855,000.0000 8,855,000.00 0.1% 05/01/2032
Pima County, AZ Dev Auth Multifam 6,790,000.0000 6,790,000.00 0.1% 02/15/2031
Pinellas Cnty Florida Facs Authority 5,000,000.0000 5,000,000.00 0.0% 07/01/2036
Pinellas County Health, 0.00%, 7/1/2034 34,640,000.0000 34,640,000.00 0.3% 07/01/2034
PLANO HEALTH FAC DEV CORP., TX 7,975,000.0000 7,975,000.00 0.1% 01/01/2020
Platte Cnty MO Indl Dev Multifam Rev 7,730,000.0000 7,730,000.00 0.1% 04/01/2028
Polk Cnty, FL Ind Dev Auth Ind Dev Rev 2,300,000.0000 2,300,000.00 0.0% 08/01/2028
Prince Williams Cnty VA Ctfs Partn 6,350,000.0000 6,350,000.00 0.1% 09/01/2026
Private Colleges & Univs Auth GA Rev 20,100,000.0000 20,100,000.00 0.2% 09/01/2024
PRIVATE COLLEGES & UNIVS AUTH GA REV 7,000,000.0000 7,000,000.00 0.1% 09/01/2043
3
PUERTO RICO COMWLTH TAX & REV ANTIC NTS-SUBSER1,000,000.0000 31,138,840.94 0.3% 07/30/2009
Quad Citites Regl Economic Dev. 14,700,000.0000 14,700,000.00 0.1% 10/01/2035
Regional Transportation Authority, IL 14,510,000.0000 14,510,000.00 0.1% 07/01/2023
Reno NV Hosp Rev 4,100,000.0000 4,100,000.00 0.0% 06/01/2039
Revere MA Hsg Auth Multifam Mtg Rev 23,990,000.0000 23,990,000.00 0.2% 09/01/2028
Richland Cnty OH Hlth Care Facs Rev 3,695,000.0000 3,695,000.00 0.0% 11/01/2027
NORTHERN FUNDS - MUNICIPAL MONEY MARKET FUND
Holdings as of March 31, 2009
% of
Security Shares/Par Amortized Cost Amortized Cost Maturity Date
Richmond Cnty GA Dev Auth Rev 13,900,000.0000 13,900,000.00 0.1% 07/01/2037
Richmond Cnty, GA Hosp AuthRevAnticCtfs 8,000,000.0000 8,000,000.00 0.1% 01/01/2025
Richmond, VA IDA 6,870,000.0000 6,870,000.00 0.1%
Robbinsdale Minn Rev 5,000,000.0000 5,000,000.00 0.0% 05/01/2033
Robbinsdale Minn Rev 4,500,000.0000 4,500,000.00 0.0% 05/01/2033
Rochester MN Hlth Care Facs Rev 16,000,000.0000 16,000,000.00 0.2% 08/15/2032
Rockford IL Rev 15,000,000.0000 15,104,499.34 0.1% 09/30/2009
Rockwall TX Indpt Sch Dist GO 16,000,000.0000 16,000,000.00 0.2% 08/01/2037
Rodchester,MN Health Care 10,000,000.0000 10,000,000.00 0.1% 11/15/2038
Roswell, GA Housing Authority Multifam 10,000,000.0000 10,000,000.00 0.1% 11/15/2032
SALT RIVER PROJ., AZ POWER DIST. 8,700,000.0000 8,700,000.00 0.1% 01/01/2035
San Antonio TX Ed Facs Corp Rev 28,000,000.0000 28,000,000.00 0.3% 12/01/2028
Scotts Bluff Cnty NE Hosp Auth No 1 Rev 10,030,000.0000 10,030,000.00 0.1% 12/01/2028
Shelby Cnty Tenn Hlth Ed & Hsg Brd Rev 9,300,000.0000 9,300,000.00 0.1% 06/01/2038
Shelby Cnty Tennessee G.O. 26,000,000.0000 26,000,000.00 0.3% 04/01/2020
Shelby County Tenn Health Authority 5,575,000.0000 5,575,000.00 0.1% 06/15/2036
Shelby County, TN Health Edl & Hsg Fac 9,800,000.0000 9,800,000.00 0.1% 08/01/2037
Shelby County, TN Health Edl & Hsg Fac 4,200,000.0000 4,200,000.00 0.0% 10/01/2022
SHELBY, TN HLTH AND EDUC AND HOUSING FACS 6,400,000.0000 6,400,000.00 0.1% 05/01/2033
Smyrna GA Hsng Auth Multifam. 4,400,000.0000 4,400,000.00 0.0% 06/01/2025
Smyrna, GA Hsg Auth MultiFam Hsg Rev 11,200,000.0000 11,200,000.00 0.1% 06/01/2025
SMYRNA, GA MULITFAM HSG 4,500,000.0000 4,500,000.00 0.0% 06/01/2025
South Carolina Jobs Econ Health Fac Rev 39,970,000.0000 39,970,000.00 0.4% 11/01/2037
South Carolina Jobs-Econ Dev Hosp Rev 13,200,000.0000 13,200,000.00 0.1% 07/01/2037
South Carolina Jobs-Econ Dev Hosp Rev 12,000,000.0000 12,000,000.00 0.1% 08/15/2037
South Carolina Jobs-Econ Dev Hosp Rev 9,000,000.0000 9,000,000.00 0.1% 10/01/2036
South Carolina St Hsg&Dev Multifam Rev 5,000,000.0000 5,000,000.00 0.0% 06/01/2046
South Dakota St Hlth&Edl Facs Auth Rev 12,965,000.0000 12,965,000.00 0.1% 09/01/2027
Southcentral PA Gen Auth Rev 7,700,000.0000 7,700,000.00 0.1% 06/01/2035
SOUTHCENTRAL PA GEN AUTH REV (144A) 8,715,000.0000 8,715,000.00 0.1% 06/01/2035
Southern CA Pub Pwr Auth Pwr Proj Rev 2,440,000.0000 2,440,000.00 0.0% 07/01/2020
ST CHARLES CNTY MO INDL DEV AUTH INDL REV 6,170,000.0000 6,170,000.00 0.1% 09/01/2029
St of TX Transn Commn Mblty Fd G.O. 05A 10,165,000.0000 10,165,000.00 0.1% 04/01/2030
St Petersburg FL Hlth Facs Auth Rev 6,775,000.0000 6,775,000.00 0.1% 07/01/2027
St Tammany Parish LA Gulf Opp Zone Rev 5,000,000.0000 5,000,000.00 0.0% 05/01/2038
St. Charles Cnty, MO IDA 19,000,000.0000 19,000,000.00 0.2% 07/15/2032
St. Charles Cnty, MO IDA 10,700,000.0000 10,700,000.00 0.1% 02/01/2029
St. Louis County, MO IDA VRDBs, 1996-B 4,725,000.0000 4,725,000.00 0.0% 09/01/2016
St. Paul MN Housing & Redev Auth 16,100,000.0000 16,100,000.00 0.2% 05/01/2027
State of California 7,600,000.0000 7,600,000.00 0.1% 07/01/2023
State of California, 7/01/2023 13,065,000.0000 13,065,000.00 0.1% 07/01/2023
State of Georgia G.O. 23,603,000.0000 23,603,000.00 0.2% 12/01/2026
State of Louisiana G.O. 24,000,000.0000 24,000,000.00 0.2% 07/01/2026
State of Massachusetts G.O. Ltd Nts 60,000,000.0000 60,169,247.58 0.6% 05/29/2009
STATE OF MICHIGAN G.O. 88,000,000.0000 88,409,630.40 0.9% 09/30/2009
State of Minnesota Ref G.O. 25,900,000.0000 25,900,000.00 0.3% 08/01/2015
State of New Jersey Rev Notes 115,000,000.0000 115,371,245.64 1.1% 06/25/2009
State of Oregon Facs Auth Rev 10,000,000.0000 10,000,000.00 0.1% 05/01/2047
State of Oregon G.O. 28,705,000.0000 28,795,569.10 0.3% 06/30/2009
State of Texas 5,500,000.0000 5,500,000.00 0.1% 12/01/2016
State of Texas G.O. 45,000,000.0000 45,000,000.00 0.4% 12/01/2038
State of Texas GO 51,900,000.0000 51,900,000.00 0.5% 04/01/2035
State of Washington G.O. 14,740,000.0000 14,740,000.00 0.1% 03/01/2015
STATE OF WISCONSIN G.O. REF SER 1 25,000,000.0000 25,000,000.00 0.2% 09/01/2017
STATE PUB SCH BLDG AUTH PA REV 0% 3,900,000.0000 3,900,000.00 0.0% 10/15/2017
SUFFOLK CNTY, NY INDL DEV, 12/01/2036 6,500,000.0000 6,500,000.00 0.1% 12/01/2036
Sullivan Cnty,TN Hlth & Ed. 35,300,000.0000 35,300,000.00 0.3% 09/01/2032
Summit Cnty, CO Recreational Facs Rev 2,245,000.0000 2,245,000.00 0.0%
Summit Cnty, CO Recreational Facs Rev 885,000.0000 885,000.00 0.0% 04/01/2017
Summit Cnty, CO Recreational Facs Rev 1,050,000.0000 1,050,000.00 0.0% 04/01/2017
Tarrant Cnty TX Cultural Ed Facs Fin Rv 6,500,000.0000 6,500,000.00 0.1% 11/15/2033
Tarrant Cnty TX Cultural Ed Facs Fin Rv 14,625,000.0000 14,625,000.00 0.1% 11/15/2033
Tarrant Cnty TX Cultural Ed Facs Fin Rv 4,500,000.0000 4,500,000.00 0.0% 11/15/2047
Tarrant Cnty TX Cultural Ed Facs Fin Rv 5,350,000.0000 5,350,000.00 0.1% 11/15/2033
Tarrant Cnty TX Cultural Ed Facs Fin Rv 8,530,000.0000 8,530,000.00 0.1% 11/15/2033
Tarrant Cnty TX Cultural Ed Facs Fin Rv 10,000,000.0000 10,000,000.00 0.1% 07/01/2031
Tarrant Cnty Tx Hsng.Fin.Corp.Rev 8,245,000.0000 8,245,000.00 0.1% 02/15/2036
Tarrant Cty TX Health Fac Authority 9,375,000.0000 9,375,000.00 0.1% 11/15/2036
TARRANT CTY TX HEALTH FAC, 11/15/2026 4,010,000.0000 4,010,000.00 0.0% 11/15/2026
Tennergy Corp., TN Gas Rev. 34,910,000.0000 34,910,000.00 0.3% 02/25/2010
Tennergy Corp.TN Gas Rev. 73,995,000.0000 73,995,000.00 0.7% 05/01/2016
Terre Haute IN Industrial EDA Rev Bond 2,000,000.0000 2,000,000.00 0.0% 12/01/2015
Texas Mun Gas Acq&Supply Corp II Rev 33,340,000.0000 33,340,000.00 0.3% 09/15/2018
Texas St Tpk Auth Cent TX Tpk Sys Rev 15,840,000.0000 15,840,000.00 0.2% 08/15/2042
Texas St Trans Commn Rev 13,750,000.0000 13,750,000.00 0.1% 04/01/2021
Texas St Transn Commn First Tier Rev 6,100,000.0000 6,100,000.00 0.1% 04/01/2027
TEXAS ST. TAX & REV ANTIC NTS 260,000,000.0000 261,477,835.06 2.6% 08/28/2009
TEXAS STATE TRANSP. COMMISION, 4/1/2026 52,850,000.0000 52,850,000.00 0.5% 04/01/2026
TEXAS WATER DEVELOPMENT BOARD, 3.99%, 7/15/201937,550,000.0000 37,550,000.00 0.4% 07/15/2019
The Commonwealth of Massachusetts 20,000,000.0000 20,000,000.00 0.2% 05/07/2009
Thomasville, GA Hosp Auth Rev Ant Certs 5,000,000.0000 5,000,000.00 0.0%
Tompkins Cnty NY Indl Dev Agy Rev 8,000,000.0000 8,000,000.00 0.1% 07/01/2037
Travis Cnty.TX Hlth.Fac.RetirementFac 2,500,000.0000 2,500,000.00 0.0% 11/15/2035
Triborough Brdg&Tunl NY Auth Rev 11,950,000.0000 11,950,000.00 0.1% 11/01/2035
TRUST FOR CULTURA RES NY 4-1-26 2,300,000.0000 2,300,000.00 0.0% 04/01/2026
Tucson, AZ Ind Dev Auth 4,320,000.0000 4,320,000.00 0.0% 01/15/2032
NORTHERN FUNDS - MUNICIPAL MONEY MARKET FUND
Holdings as of March 31, 2009
% of
Security Shares/Par Amortized Cost Amortized Cost Maturity Date
Tulsa Cnty, OK Ind Auth Cap Impts Rev 29,000,000.0000 29,000,000.00 0.3% 05/15/2017
U.S. Treasury Bill 40,000,000.0000 39,999,988.89 0.4% 04/02/2009
Uinta Cnty Wyoming Pollution Ctrl Rev 9,100,000.0000 9,100,000.00 0.1% 07/01/2026
Union County North Carolina VRDNs 20,865,000.0000 20,865,000.00 0.2% 03/01/2020
Univ Wisconsin Hosps&Clinics Auth Rev 4,870,000.0000 4,870,000.00 0.0% 04/01/2032
Univ.of So.Florida College 23,530,000.0000 23,530,000.00 0.2% 07/01/2036
University Athletic-Fla Ath Prog Rev 13,625,000.0000 13,625,000.00 0.1% 10/01/2031
University Athletic-Fla Ath Prog Rev 7,600,000.0000 7,600,000.00 0.1% 10/01/2020
UNIVERSITY KANSAS HOSP., 3.53%, 09/01/34 1,980,000.0000 1,980,000.00 0.0% 09/01/2034
UNIVERSITY MASS BLDG AUTH REV VAR RT 33,900,000.0000 33,900,000.00 0.3% 11/01/2034
UNIVERSITY N C CHAPEL HILL REV 5,800,000.0000 5,800,000.00 0.1% 12/01/2034
University of Illinois Rev 8,170,000.0000 8,170,000.00 0.1% 04/01/2038
University of Illinois Rev 41,215,000.0000 41,215,000.00 0.4% 10/01/2026
University of Illinois Rev 9,500,000.0000 9,500,000.00 0.1% 01/15/2022
University of Minnesota 15,000,000.0000 15,000,000.00 0.1% 12/01/2036
University of Texas Perm Univ Fd Rev 16,500,000.0000 16,500,000.00 0.2% 07/01/2038
Utah Water Finance Agency Rev 6,500,000.0000 6,500,000.00 0.1% 11/01/2021
Utah Wtr Fin Agy Rev 23,900,000.0000 23,900,000.00 0.2% 07/01/2036
Valdez, AK Marine Term Rev 13,400,000.0000 13,400,000.00 0.1% 12/01/2033
VALDEZ, AK MARINE TERM REV, 12/01/2033 15,000,000.0000 15,000,000.00 0.1% 12/01/2033
Valdez, AK Marine Terminal Rev 10,000,000.0000 10,000,000.00 0.1% 12/01/2029
Valdez, AK Marine Terminal Rev 20,900,000.0000 20,900,000.00 0.2% 07/01/2037
Valdez, Alaska Marine Terminal Rev Bds 13,700,000.0000 13,700,000.00 0.1% 12/01/2033
Vancouver Wash Hsg Auth Rev 4,500,000.0000 4,500,000.00 0.0% 12/01/2038
Village of Lisle, Illinois 26,525,000.0000 26,525,000.00 0.3% 12/15/2025
Vincennes Univ, IN Revs 21,930,000.0000 21,930,000.00 0.2% 10/01/2024
WA St. Hsng Fin Comm Nonprofit Rev 3,700,000.0000 3,700,000.00 0.0% 07/01/2030
Waco Texas Edl Fin Corp Rev 11,300,000.0000 11,300,000.00 0.1% 02/01/2032
Washington St Hghr Ed Facs Auth Rev 8,600,000.0000 8,600,000.00 0.1% 10/01/2030
WASHINGTON ST HIGHER ED 2,100,000.0000 2,100,000.00 0.0% 12/01/2033
Washington St Higher Ed Facs Auth Rev 8,800,000.0000 8,800,000.00 0.1% 02/01/2037
WASHINGTON ST HIGHER EDUCATION 14,479,345.0000 14,479,345.00 0.1% 04/01/2034
WASHINGTON ST HSG FIN COMMN NONPROF 5,000,000.0000 5,000,000.00 0.0% 07/01/2036
WASHINGTON ST HSG FIN COMMN NONPROFIT 41,000,000.0000 41,000,000.00 0.4% 01/01/2038
Washington St, Housing, 7/01/2033 1,500,000.0000 1,500,000.00 0.0% 07/01/2033
Washington St. Housing Fin Comm VRDB 7,840,000.0000 7,840,000.00 0.1% 10/01/2030
Washington State Series 2003 1,985,000.0000 1,985,000.00 0.0% 12/01/2029
Washington State G.O. Ser 1993B 20,600,000.0000 20,600,000.00 0.2% 05/01/2018
Washington State Housing Authority 625,000.0000 625,000.00 0.0% 06/01/2035
WEST JEFFERSON CTY AL IND DEV, 6/01/2028 20,000,000.0000 20,000,000.00 0.2% 06/01/2028
West Virginia Econ Dev-Poll Ctrl Rev 6,675,000.0000 6,675,000.00 0.1% 07/01/2014
Westchester Cnty NY Indl Dev Agy Rev 13,905,000.0000 13,905,000.00 0.1% 07/01/2038
Westchester Cnty NY Indl Dev Rev 6,300,000.0000 6,300,000.00 0.1% 01/01/2031
Westmoreland County PA Dev Authority 19,845,000.0000 19,845,000.00 0.2% 01/01/2036
WI ST Hlth & Ed Facs Auth 4,455,000.0000 4,455,000.00 0.0% 10/01/2030
WI St. Health & Ed Facs Auth Rev 6,155,000.0000 6,155,000.00 0.1% 07/01/2028
WI State Hlth & Edl Facs Auth Rev 8,000,000.0000 8,000,000.00 0.1% 09/01/2031
Wisconsin Hlth & Ed Fac Auth 6,895,000.0000 6,895,000.00 0.1% 05/01/2025
Wisconsin Sch Dists Cash Flow Ctfs Prtn 12,500,000.0000 12,593,098.68 0.1% 10/30/2009
Wisconsin St Health&Ed Facs Auth Rev 20,000,000.0000 20,000,000.00 0.2% 10/01/2033
Wisconsin St Hlth & Ed Facs 6,935,000.0000 6,935,000.00 0.1% 08/15/2023
Wisconsin St Hlth&Ed Facs Auth Rev 9,300,000.0000 9,300,000.00 0.1% 06/01/2022
Wisconsin St Hlth&Ed Facs Auth Rev 19,200,000.0000 19,200,000.00 0.2% 12/01/2037
Wisconsin St Hlth&Ed Facs Auth Rev 6,490,000.0000 6,490,000.00 0.1% 03/01/2038
Wisconsin St Hlth&Ed Facs Auth Rev 600,000.0000 600,000.00 0.0% 03/01/2038
Wisconsin St Hlth&Ed Facs Auth Rev 3,900,000.0000 3,900,000.00 0.0% 12/01/2026
Wisconsin St Hlth&Edl Facs Auth Rev 15,000,000.0000 15,000,000.00 0.1% 09/01/2036
Wisconsin St Hlth&Edl Facs Auth Rev 21,665,000.0000 21,665,000.00 0.2% 04/01/2038
Wisconsin St Hlth&Edl Facs Auth Rev 15,000,000.0000 15,000,000.00 0.1% 04/01/2035
Wisconsin St Hlth&Edl Facs Auth Rev 4,560,000.0000 4,560,000.00 0.0% 08/01/2034
Wisconsin St Transn Rev Tr Ctf 2007-24 21,745,000.0000 21,745,000.00 0.2% 05/01/2016
Wisconsin State Hlth & Ed Facs Rev 30,000,000.0000 30,000,000.00 0.3% 08/15/2033
Yuma AZ Indl Dev Auth Hosp Rev 19,700,000.0000 19,700,000.00 0.2% 08/01/2043
Total 10,138,275,125.63
This information is unaudited, and the portfolios holdings are subject to change at any time.
This list is not intended as a recommendation or offer to buy, hold or sell any of the
securities listed. You should consider the investment objectives, risks, charges,
and expenses of Northern Funds carefully before investing.
A prospectus with this and other information may be obtained at 800/595-9111
or northernfunds.com. The prospectus should be read carefully before investing.
Northern Funds are distributed by Northern Funds Distributor, LLC,
not affiliated with Northern Trust.