PPFIX — Princeton Premium Fund

PPFIX Fund Overview

PPFIX — Princeton Premium Fund is a US mutual fund managed by Northern Lights Fund Trust, categorised as Ultra-Short Treasury / Sovereign Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Northern Lights Fund Trust
• Category: Ultra-Short Treasury / Sovereign Bond
• Assets under management: $297.30M
• 1-year return: 6.4%
• Ticker: PPFIX
• SEC CIK: 0001314414
• SEC series ID: S000053754
• Share class ID: C000168967

PPFIX Investment Objective and Strategy

Princeton Premium Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Northern Lights Fund Trust.

Investment objective

Investment Objective:

Principal investment strategy

The Fund intends to utilize two principal investment strategies: 1) a premium collection strategy involving sale or purchase of call options and put options on the S&P 500 Index and 2) investing in fixed income securities. The Funds adviser will determine the allocation between these strategies and to any sub-adviser to which it may delegate management of the Funds portfolio. The adviser intends to allocate between 30% to 85% of the Funds net assets to the premium collection strategy at any given time. The Fund may purchase and sell call and put options on the S&P 500 Index, utilizing a premium collection strategy. Horse Cove Partners LLC is currently the sole sub-adviser to the Fund and it manages the Funds premium collection strategy. The sub-adviser utilizes proprietary quantitative models that allow it to determine what it believes is the probability of certain call or put options expiring worthless; the sale of a put or call option are done at a price that the sub-adviser believes have a 99.5% or greater probability of the puts sold expiring worthless and a 90% or greater probability of the calls sold expiring worthless.

These models utilize a formula to calculate probabilities by utilizing verifiable market data such as volatility as measured by the CBOE Volatility Index (VIX), time to expiration for the option contracts, current S&P 500 Index level and the one year Treasury interest rate to determine the probability an option will expire worthless. Within this strategy, because the trades are call spreads or put spreads where an offsetting position is taken for each option contract, the potential risk is well defined. It is desirable that the underlying index remains in a relatively narrow trading range from the time the Fund opens the position until the options expire. The sub-adviser will seek to further mitigate risk and maximize Fund profits by continuing its proprietary quantitative analysis and monitoring the trade during the term of the contracts; and may close a trade early if it determines 1) the probability of the put or call option expiring worthless has dropped to 66.67% or lower, 2) it determines it can close the trade for minimum cost (five cents per option or less), or 3) it can close the trade early and achieve it target profit objective for such trade.

The Fund is required to pledge collateral for the option trades and it will hold cash, treasury bills, or money market instruments as collateral for all such options trades. The Funds custodian will segregate such collateral for the benefit of the counterparty. Therefore the Fund must typically maintain a large percentage of cash and cash equivalents within the Fund. The amount collected by the Fund when opening a trade represents the maximum profit (or premium) for the position and it represents a market neutral trade, meaning there is no inherent bullish or bearish bias. The Fund may also allocate a portion of its assets to a fixed income strategy. The Fund may invest directly or indirectly in fixed income securities of any maturity. Such fixed income investments will be rated investment grade by Standard & Poors (BBB- or better) or Moodys (Baa3 or better) at the time the investment is made.

The Fund may invest directly in U.S. Treasury bonds. The Fund may also invest in exchange traded funds (ETFs), money market funds or open end mutual funds, including affiliated mutual funds (collectively, Underlying Funds) whose principal investment strategy is to invest primarily in investment grade fixed income securities of U.S. issuers of any size, including smaller issuers. To the extent the Fund invests in any affiliated Underlying Funds, it will waive its advisory fee with respect to the portion of the Fund that is invested in any such affiliated fund. The adviser considers a variety of factors in determining whether to sell a fixed income investment: changes in market condition, changes in credit quality, changes in prospects for alternative investment possibilities or return opportunities for other fixed income instruments, current return expectation of such security, any changes in interest rates, liquidity of the security, and cash needs of the Fund.

If a fixed income investment is downgraded after purchase the adviser may, but is not obligated to, dispose of such investment. The advisers investment process combines risk management, due diligence, experienced portfolio construction, and portfolio monitoring. The adviser may also manage the fixed income investment strategy and has overall supervisory responsibilities for the general management and investment of the Funds securities portfolio. The Funds adviser sets the Funds investment objective and retains final authority with respect to the Funds portfolio if it believes an investment is not consistent with the Funds investment guidelines and restrictions. The adviser decides how much of the Funds investment portfolio will be allocated to any strategy or sub-adviser at any given time.

The adviser is also responsible for ongoing performance evaluation, monitoring, and due diligence with respect to any sub-adviser. The Fund is non-diversified for purposes of the Investment Company Act of 1940, as amended (the 1940 Act), which means that the Fund may invest in fewer securities at any one time than a diversified fund. The Fund has a line of credit to utilize as necessary for liquidity needs due to shareholder redemptions. The Fund may also invest a substantial portion of its assets in U.S. Treasury bonds, high-quality short-term debt securities and money market instruments, to maintain liquidity for shareholder redemptions or pending selection of other investments.

PPFIX Holdings

Top 10 holdings of Princeton Premium Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all PPFIX holdings

PPFIX Portfolio Allocation

Asset-class allocation of Princeton Premium Fund by percentage of net assets, from the latest SEC N-PORT filing.

PPFIX Performance

Total returns for PPFIX (as of 2026-10-01), from SEC filings.

PPFIX Risk Information

Risk metrics for PPFIX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 1.2%

PPFIX Costs and Fees

PPFIX costs about $196 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.96%
• Gross expense ratio: 2.04%
• Portfolio turnover: 0%
• Brokerage commissions: 0.28 bps of average net assets (SEC N-CEN)

PPFIX Cashflows

Over the 12 months to 2026-06, Princeton Premium Fund had net outflows of $20.19M, from monthly SEC N-PORT filings.

PPFIX Debt Constituents

Largest debt holdings of Princeton Premium Fund by percentage of net assets, from the latest SEC N-PORT filing.

PPFIX Prospectus and SEC Filings

Official Princeton Premium Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-01-28
• Prospectus (485BPOS) — filed 2025-01-24
• Prospectus supplement (497) — filed 2025-08-15
• Portfolio holdings (N-PORT) — filed 2026-08-27
• Portfolio holdings (N-PORT) — filed 2026-05-29
• Portfolio holdings (N-PORT) — filed 2026-02-26
• Annual census (N-CEN) — filed 2025-12-12
• Annual census (N-CEN) — filed 2024-12-16

Related Funds

Other Ultra-Short Treasury / Sovereign Bond funds tracked on ABC INVEST:

• Vanguard 0-3 Month Treasury Bill ETF (VBIL)
• US Treasury 3 Month Bill ETF (TBIL)
• Global X 1-3 Month T-Bill ETF (CLIP)
• Invesco Short Term Treasury ETF (TBLL)
• Abbey Capital Futures Strategy Fund (ABYAX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.