# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0000910472-25-002525
**Filing Date:** 2025-10
**Character Count:** 52237
**Document Hash:** 1b8ea059068aff06c9ecbf526677bce3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-002525.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0000910472-25-002525

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251029

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN LIGHTS FUND TRUST II
- **CENTRAL INDEX KEY:** 0001518042

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22549
- **FILM NUMBER:** 251427568

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 631-470-2600

**MAIL ADDRESS:**
- **STREET 1:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022

## Series and Classes Contracts Data

### One Global ETF (Series ID: S000072561)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000228894 | One Global ETF | FFND            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **ONE GLOBAL ETF** | **ONE GLOBAL ETF** | **ONE GLOBAL ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.9%** |  |
|  | **AEROSPACE & DEFENSE - 5.3%** |  |
| 13150 | BAE Systems plc - ADR | &nbsp;&nbsp;&nbsp; $1239256 |
| 12491 | Embraer S.A. - ADR | &nbsp;&nbsp;&nbsp; 703618 |
| 3657 | General Dynamics Corporation | &nbsp;&nbsp;&nbsp; 1186952 |
| 62571 | Rolls-Royce Holdings plc - ADR | &nbsp;&nbsp;&nbsp; 904151 |
| 10581 | Safran S.A. - ADR | &nbsp;&nbsp;&nbsp; 875578 |
|  |  | &nbsp;&nbsp; 4909555 |
|  | **APPAREL & TEXTILE PRODUCTS - 0.9%** |  |
| 11140 | NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp; 861902 |
|  | **ASSET MANAGEMENT - 5.0%** |  |
| 14811 | AllianceBernstein Holding, L.P. | &nbsp;&nbsp;&nbsp; 586219 |
| 800 | Blackrock, Inc. | &nbsp;&nbsp;&nbsp; 901712 |
| 10972 | Charles Schwab Corporation (The) | &nbsp;&nbsp;&nbsp; 1051556 |
| 2702 | LPL Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp; 984825 |
| 28138 | UBS Group A.G. | &nbsp;&nbsp;&nbsp; 1140152 |
|  |  | &nbsp;&nbsp; 4664464 |
|  | **AUTOMOTIVE - 1.0%** |  |
| 8481 | Lear Corporation | &nbsp;&nbsp;&nbsp; 932910 |
|  | **BANKING - 4.8%** |  |
| 20823 | Bank of America Corporation | &nbsp;&nbsp;&nbsp; 1056559 |
| 12112 | Citigroup, Inc. | &nbsp;&nbsp;&nbsp; 1169656 |
| 2779 | Credicorp Ltd. | &nbsp;&nbsp;&nbsp; 714759 |
| 4925 | JPMorgan Chase & Company | &nbsp;&nbsp;&nbsp; 1484494 |
|  |  | &nbsp;&nbsp; 4425468 |
|  | **BEVERAGES - 0.5%** |  |
| 5716 | Fomento Economico Mexicano S.A.B. de C.V. - ADR | &nbsp;&nbsp;&nbsp; 495234 |
|  | **BIOTECH & PHARMA - 7.3%** |  |
| 1148 | Argenx S.E. - ADR<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 817606 |
| 16588 | Galderma Group A.G. - ADR | &nbsp;&nbsp;&nbsp; 581409 |
| 5445 | Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp; 615122 |
| 16670 | Halozyme Therapeutics, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1219411 |
| 7315 | Johnson & Johnson | &nbsp;&nbsp;&nbsp; 1295999 |

---

---

| | | |
|:---|:---|:---|
| **ONE GLOBAL ETF** | **ONE GLOBAL ETF** | **ONE GLOBAL ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.9% (Continued)** |  |
|  | **BIOTECH & PHARMA - 7.3% (Continued)** |  |
| 3326 | Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $1300532 |
| 6166 | Zoetis, Inc. | &nbsp;&nbsp;&nbsp; 964362 |
|  |  | &nbsp;&nbsp; 6794441 |
|  | **CHEMICALS - 1.6%** |  |
| 14098 | Air Liquide S.A. - ADR | &nbsp;&nbsp;&nbsp; 582811 |
| 7315 | RPM International, Inc. | &nbsp;&nbsp;&nbsp; 916643 |
|  |  | &nbsp;&nbsp; 1499454 |
|  | **CONSTRUCTION MATERIALS - 0.5%** |  |
| 6161 | Knife River Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 499041 |
|  | **DATA CENTER REIT - 0.9%** |  |
| 1109 | Equinix, Inc. | &nbsp;&nbsp;&nbsp; 871885 |
|  | **E-COMMERCE DISCRETIONARY - 3.2%** |  |
| 10616 | Amazon.com, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2431064 |
| 15600 | Global-e Online Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 521976 |
|  |  | &nbsp;&nbsp; 2953040 |
|  | **ELECTRIC UTILITIES - 1.8%** |  |
| 18287 | Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp; 1095391 |
| 7487 | National Grid plc - ADR | &nbsp;&nbsp;&nbsp; 528358 |
|  |  | &nbsp;&nbsp; 1623749 |
|  | **ELECTRICAL EQUIPMENT - 1.5%** |  |
| 3387 | BWX Technologies, Inc. | &nbsp;&nbsp;&nbsp; 548829 |
| 17165 | Schneider Electric S.E. - ADR | &nbsp;&nbsp;&nbsp; 843445 |
|  |  | &nbsp;&nbsp; 1392274 |
|  | **HEALTH CARE FACILITIES & SERVICES - 0.6%** |  |
| 6300 | HealthEquity, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 562779 |
|  | **HOME CONSTRUCTION - 0.8%** |  |
| 4349 | DR Horton, Inc. | &nbsp;&nbsp;&nbsp; 737069 |
|  | **HOUSEHOLD PRODUCTS - 3.0%** |  |
| 65873 | Haleon plc - ADR | &nbsp;&nbsp;&nbsp; 645555 |
| 6681 | Procter & Gamble Company (The) | &nbsp;&nbsp;&nbsp; 1049184 |

---

---

| | | |
|:---|:---|:---|
| **ONE GLOBAL ETF** | **ONE GLOBAL ETF** | **ONE GLOBAL ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.9% (Continued)** |  |
|  | **HOUSEHOLD PRODUCTS - 3.0% (Continued)** |  |
| 17165 | Unilever plc - ADR | &nbsp;&nbsp;&nbsp; $1084829 |
|  |  | &nbsp;&nbsp; 2779568 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 2.9%** |  |
| 1434 | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 1068688 |
| 15287 | Lazard, Inc. | &nbsp;&nbsp;&nbsp; 873805 |
| 23661 | London Stock Exchange Group plc - ADR | &nbsp;&nbsp;&nbsp; 743192 |
|  |  | &nbsp;&nbsp; 2685685 |
|  | **INSURANCE - 1.9%** |  |
| 2317 | Aon PLC, Class A | &nbsp;&nbsp;&nbsp; 850339 |
| 10972 | MetLife, Inc. | &nbsp;&nbsp;&nbsp; 892682 |
|  |  | &nbsp;&nbsp; 1743021 |
|  | **INTERNET MEDIA & SERVICES - 10.5%** |  |
| 8430 | Alphabet, Inc., Class A<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1794831 |
| 9443 | Baidu, Inc. - ADR<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 899918 |
| 4394 | DoorDash, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1077629 |
| 3225 | Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp; 2382307 |
| 1048 | Netflix, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1266246 |
| 25690 | Pinterest, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 941025 |
| 1147 | Spotify Technology S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 782116 |
| 6721 | Uber Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 630094 |
|  |  | &nbsp;&nbsp; 9774166 |
|  | **LEISURE FACILITIES & SERVICES - 1.7%** |  |
| 22409 | DraftKings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1075184 |
| 48804 | Wynn Macau Ltd. - ADR | &nbsp;&nbsp;&nbsp; 469494 |
|  |  | &nbsp;&nbsp; 1544678 |
|  | **LEISURE PRODUCTS - 1.1%** |  |
| 28596 | YETI Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1005435 |
|  | **MACHINERY - 2.5%** |  |
| 2374 | Caterpillar, Inc. | &nbsp;&nbsp;&nbsp; 994802 |
| 1562 | Deere & Company | &nbsp;&nbsp;&nbsp; 747636 |
| 16179 | Smiths Group plc - ADR | &nbsp;&nbsp;&nbsp; 527597 |
|  |  | &nbsp;&nbsp; 2270035 |

---

---

| | | |
|:---|:---|:---|
| **ONE GLOBAL ETF** | **ONE GLOBAL ETF** | **ONE GLOBAL ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.9% (Continued)** |  |
|  | **MEDICAL EQUIPMENT & DEVICES - 3.4%** |  |
| 6903 | Abbott Laboratories | &nbsp;&nbsp;&nbsp; $915752 |
| 33139 | ConvaTec Group plc - ADR | &nbsp;&nbsp;&nbsp; 430807 |
| 8651 | Edwards Lifesciences Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 703672 |
| 2122 | Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp; 1045552 |
|  |  | &nbsp;&nbsp; 3095783 |
|  | **OIL & GAS PRODUCERS - 3.7%** |  |
| 23515 | BP PLC - ADR | &nbsp;&nbsp;&nbsp; 828433 |
| 6047 | Chevron Corporation | &nbsp;&nbsp;&nbsp; 971148 |
| 13200 | Enbridge, Inc. | &nbsp;&nbsp;&nbsp; 638686 |
| 8583 | Exxon Mobil Corporation | &nbsp;&nbsp;&nbsp; 980952 |
|  |  | &nbsp;&nbsp; 3419219 |
|  | **RETAIL - CONSUMER STAPLES - 1.1%** |  |
| 10296 | Walmart, Inc. | &nbsp;&nbsp;&nbsp; 998506 |
|  | **RETAIL - DISCRETIONARY - 1.8%** |  |
| 2349 | Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp; 955503 |
| 3035 | RH<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 684908 |
|  |  | &nbsp;&nbsp; 1640411 |
|  | **SEMICONDUCTORS - 9.0%** |  |
| 5049 | Applied Materials, Inc. | &nbsp;&nbsp;&nbsp; 811677 |
| 6738 | Cirrus Logic, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 769412 |
| 45499 | Intel Corporation | &nbsp;&nbsp;&nbsp; 1107901 |
| 10295 | Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp; 669175 |
| 14668 | NVIDIA Corporation | &nbsp;&nbsp;&nbsp; 2554872 |
| 2585 | NXP Semiconductors N.V. | &nbsp;&nbsp;&nbsp; 607087 |
| 13734 | ON Semiconductor Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 681069 |
| 4291 | Taiwan Semiconductor Manufacturing Company Ltd. - ADR | &nbsp;&nbsp;&nbsp; 990663 |
|  |  | &nbsp;&nbsp; 8191856 |
|  | **SOFTWARE - 6.3%** |  |
| 4455 | Datadog, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 608909 |
| 17545 | Gitlab, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 842511 |
| 3657 | Microsoft Corporation | &nbsp;&nbsp;&nbsp; 1852965 |
| 5561 | Palo Alto Networks, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1059482 |
| 3335 | Salesforce, Inc. | &nbsp;&nbsp;&nbsp; 854594 |

---

---

| | | |
|:---|:---|:---|
| **ONE GLOBAL ETF** | **ONE GLOBAL ETF** | **ONE GLOBAL ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.9% (Continued)** |  |
|  | **SOFTWARE - 6.3% (Continued)** |  |
| 2496 | SAP S.E. - ADR | &nbsp;&nbsp;&nbsp; $679311 |
|  |  | &nbsp;&nbsp; 5897772 |
|  | **SPECIALTY FINANCE - 0.7%** |  |
| 1937 | American Express Company | &nbsp;&nbsp;&nbsp; 641689 |
|  | **TECHNOLOGY HARDWARE - 7.3%** |  |
| 14370 | Apple, Inc. | &nbsp;&nbsp;&nbsp; 3335851 |
| 12721 | Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp; 878894 |
| 7137 | Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp; 871785 |
| 34488 | Nintendo Company Ltd. - ADR | &nbsp;&nbsp;&nbsp; 770462 |
| 33560 | Sony Group Corporation - ADR | &nbsp;&nbsp;&nbsp; 923572 |
|  |  | &nbsp;&nbsp; 6780564 |
|  | **TECHNOLOGY SERVICES - 2.7%** |  |
| 15000 | Block, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1194600 |
| 3657 | Visa, Inc., Class A | &nbsp;&nbsp;&nbsp; 1286459 |
|  |  | &nbsp;&nbsp; 2481059 |
|  | **TELECOMMUNICATIONS - 2.6%** |  |
| 19569 | GDS Holdings Ltd. - ADR<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 676305 |
| 18876 | Millicom International Cellular S.A. | &nbsp;&nbsp;&nbsp; 911900 |
| 3196 | T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp; 805360 |
|  |  | &nbsp;&nbsp; 2393565 |
|  | **TOTAL COMMON STOCKS (Cost $83,241,381)** | &nbsp;&nbsp; 90566277 |
|  | **TOTAL INVESTMENTS - 97.9% (Cost $83,241,381)** | &nbsp;&nbsp;&nbsp; $90566277 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 2.1%** | &nbsp;&nbsp; 1979263 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $92545540 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> All or a portion of this security is held as collateral.

---

| | | |
|:---|:---|:---|
| **THE FUTURE FUND LONG/SHORT ETF** | **THE FUTURE FUND LONG/SHORT ETF** | **THE FUTURE FUND LONG/SHORT ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 80.7%** |  |
|  | **AEROSPACE & DEFENSE - 3.4%** |  |
| 30000 | Rolls-Royce Holdings plc - ADR<sup>(b)</sup> | &nbsp;&nbsp;$433500 |
| 12000 | Safran S.A. - ADR<sup>(b)</sup> | &nbsp;&nbsp;993000 |
|  |  | &nbsp;&nbsp;1426500 |
|  | **ASSET MANAGEMENT - 2.3%** |  |
| 2658 | LPL Financial Holdings, Inc. <sup>(b)</sup> | &nbsp;&nbsp;968788 |
|  | **BIOTECH & PHARMA - 5.2%** |  |
| 21355 | Halozyme Therapeutics, Inc.<sup>(a), (b)</sup> | &nbsp;&nbsp;1562118 |
| 1544 | Vertex Pharmaceuticals, Inc.<sup>(a), (b)</sup> | &nbsp;&nbsp;603735 |
|  |  | &nbsp;&nbsp;2165853 |
|  | **DATA CENTER REIT - 2.1%** |  |
| 1130 | Equinix, Inc. <sup>(b)</sup> | &nbsp;&nbsp;888395 |
|  | **E-COMMERCE DISCRETIONARY - 3.8%** |  |
| 7075 | Amazon.com, Inc.<sup>(a), (b)</sup> | &nbsp;&nbsp;1620176 |
|  | **HEALTH CARE FACILITIES & SERVICES - 1.6%** |  |
| 7594 | HealthEquity, Inc.<sup>(a)</sup> | &nbsp;&nbsp;678372 |
|  | **INTERNET MEDIA & SERVICES - 19.5%** |  |
| 5993 | Alphabet, Inc., Class A<sup>(b)</sup> | &nbsp;&nbsp;1275970 |
| 9967 | Baidu, Inc. - ADR<sup>(a), (b)</sup> | &nbsp;&nbsp;949855 |
| 3785 | DoorDash, Inc., Class A<sup>(a), (b)</sup> | &nbsp;&nbsp;928271 |
| 2426 | Meta Platforms, Inc., Class A<sup>(b)</sup> | &nbsp;&nbsp;1792087 |
| 757 | Netflix, Inc.<sup>(a), (b)</sup> | &nbsp;&nbsp;914645 |
| 32275 | Pinterest, Inc., Class A<sup>(a), (b)</sup> | &nbsp;&nbsp;1182233 |
| 11192 | Uber Technologies, Inc.<sup>(a), (b)</sup> | &nbsp;&nbsp;1049250 |
|  |  | &nbsp;&nbsp;8092311 |
|  | **LEISURE FACILITIES & SERVICES - 3.4%** |  |
| 29126 | DraftKings, Inc.<sup>(a), (b)</sup> | &nbsp;&nbsp;1397465 |
|  | **LEISURE PRODUCTS - 3.3%** |  |
| 38340 | YETI Holdings, Inc.<sup>(a), (b)</sup> | &nbsp;&nbsp;1348034 |

---

---

| | | |
|:---|:---|:---|
| **THE FUTURE FUND LONG/SHORT ETF** | **THE FUTURE FUND LONG/SHORT ETF** | **THE FUTURE FUND LONG/SHORT ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 80.7% (Continued)** |  |
|  | **MEDICAL EQUIPMENT & DEVICES - 3.0%** |  |
| 15147 | Edwards Lifesciences Corporation<sup>(a), (b)</sup> | &nbsp;&nbsp;$1232057 |
|  | **RETAIL - DISCRETIONARY - 2.6%** |  |
| 13000 | Floor & Decor Holdings, Inc., Class A<sup>(a), (b)</sup> | &nbsp;&nbsp;1064960 |
|  | **SEMICONDUCTORS - 15.0%** |  |
| 8100 | Cirrus Logic, Inc.<sup>(a), (b)</sup> | &nbsp;&nbsp;924939 |
| 12075 | Microchip Technology, Inc. <sup>(b)</sup> | &nbsp;&nbsp;784875 |
| 4000 | Micron Technology, Inc. <sup>(b)</sup> | &nbsp;&nbsp;476040 |
| 17961 | NVIDIA Corporation<sup>(b)</sup> | &nbsp;&nbsp;3128447 |
| 18125 | ON Semiconductor Corporation<sup>(a), (b)</sup> | &nbsp;&nbsp;898819 |
|  |  | &nbsp;&nbsp;6213120 |
|  | **SOFTWARE - 9.9%** |  |
| 4355 | Datadog, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;595241 |
| 16047 | Gitlab, Inc., Class A<sup>(a), (b)</sup> | &nbsp;&nbsp;770577 |
| 7254 | Palo Alto Networks, Inc.<sup>(a), (b)</sup> | &nbsp;&nbsp;1382032 |
| 5115 | Salesforce, Inc. <sup>(b)</sup> | &nbsp;&nbsp;1310719 |
|  |  | &nbsp;&nbsp;4058569 |
|  | **TECHNOLOGY HARDWARE - 2.1%** |  |
| 7000 | Dell Technologies, Inc., Class C<sup>(b)</sup> | &nbsp;&nbsp;855050 |
|  | **TECHNOLOGY SERVICES - 3.5%** |  |
| 17955 | Block, Inc.<sup>(a), (b)</sup> | &nbsp;&nbsp;1429936 |
|  | **TOTAL COMMON STOCKS (Cost $27,970,710)** | &nbsp;&nbsp;33439586 |
|  | **TOTAL INVESTMENTS - 80.7% (Cost $27,970,710)** | &nbsp;&nbsp;$33439586 |
|  | **TOTAL SECURITIES SOLD SHORT – (51.2)% (Proceeds - $17,667,616)** | &nbsp;&nbsp;&nbsp; (21227026) |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 70.5%** | &nbsp;&nbsp;29188450 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp;$41401010 |

---

---

| | | |
|:---|:---|:---|
| **THE FUTURE FUND LONG/SHORT ETF** | **THE FUTURE FUND LONG/SHORT ETF** | **THE FUTURE FUND LONG/SHORT ETF** |
| **SCHEDULE OF SECURITIES SOLD SHORT (Unaudited)** | **SCHEDULE OF SECURITIES SOLD SHORT (Unaudited)** | **SCHEDULE OF SECURITIES SOLD SHORT (Unaudited)** |
| **August 31, 2025** | **August 31, 2025** | **August 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **BUSINESS DEVELOPMENT COMPANIES — (2.2)%** |  |
|  | **BUSINESS DEVELOPMENT COMPANIES - (2.2)%** |  |
| (40000) | Ares Capital Corporation | &nbsp;&nbsp;$(896000) |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — (49.0)%** |  |
|  | **APPAREL & TEXTILE PRODUCTS - (1.4)%** |  |
| (13000) | On Holding A.G. | &nbsp;&nbsp; (586040) |
|  | **BANKING - (6.9)%** |  |
| (12000) | Banco Latinoamericano de Comercio Exterior S.A., Class E | &nbsp;&nbsp; (553560) |
| (13000) | Cathay General Bancorp | &nbsp;&nbsp; (648830) |
| (11000) | Comerica, Inc. | &nbsp;&nbsp; (776380) |
| (8500) | East West Bancorp, Inc. | &nbsp;&nbsp; (893690) |
|  |  | &nbsp;&nbsp; (2872460) |
|  | **COMMERCIAL SUPPORT SERVICES - (1.7)%** |  |
| (12650) | Rollins, Inc. | &nbsp;&nbsp; (715231) |
|  | **ELECTRICAL EQUIPMENT - (7.1)%** |  |
| (10000) | Amphenol Corporation, Class A | &nbsp;&nbsp; (1088600) |
| (12000) | Trimble, Inc. | &nbsp;&nbsp; (969840) |
| (7000) | Vertiv Holdings Company | &nbsp;&nbsp; (892850) |
|  |  | &nbsp;&nbsp; (2951290) |
|  | **ENGINEERING & CONSTRUCTION - (2.3)%** |  |
| (2500) | Quanta Services, Inc. | &nbsp;&nbsp; (944900) |
|  | **ENTERTAINMENT CONTENT - (2.1)%** |  |
| (7000) | ROBLOX Corporation, Class A | &nbsp;&nbsp; (872130) |
|  | **HEALTH CARE FACILITIES & SERVICES - (4.1)%** |  |
| (3000) | Cigna Group (The) | &nbsp;&nbsp; (902610) |
| (2000) | HCA Healthcare, Inc. | &nbsp;&nbsp; (807920) |
|  |  | &nbsp;&nbsp; (1710530) |

---

---

| | | |
|:---|:---|:---|
| <br>**THE FUTURE FUND LONG/SHORT ETF<br> SCHEDULE OF SECURITIES SOLD SHORT (Unaudited)<br> August 31, 2025** | <br>**THE FUTURE FUND LONG/SHORT ETF<br> SCHEDULE OF SECURITIES SOLD SHORT (Unaudited)<br> August 31, 2025** | <br>**THE FUTURE FUND LONG/SHORT ETF<br> SCHEDULE OF SECURITIES SOLD SHORT (Unaudited)<br> August 31, 2025** |
|  | **INDUSTRIAL SUPPORT SERVICES - (4.9)%** |  |
| (22000) | Fastenal Company | &nbsp;&nbsp; (1092520) |
| (1000) | United Rentals, Inc. | &nbsp;&nbsp; (956340) |
|  |  | &nbsp;&nbsp; (2048860) |
|  | **INTERNET MEDIA & SERVICES - (2.0)%** |  |
| (150) | Booking Holdings, Inc. | &nbsp;&nbsp; (839858) |
|  | **MEDICAL EQUIPMENT & DEVICES - (1.4)%** |  |
| (2100) | ResMed, Inc. | &nbsp;&nbsp; (576471) |
|  | **SEMICONDUCTORS - (3.5)%** |  |
| (9000) | Advanced Micro Devices, Inc. | &nbsp;&nbsp; (1463670) |
|  | **SOFTWARE - (7.0)%** |  |
| (1700) | Adobe, Inc. | &nbsp;&nbsp; (606390) |
| (1000) | Crowdstrike Holdings, Inc., Class A | &nbsp;&nbsp; (423700) |
| (3000) | Duolingo, Inc. | &nbsp;&nbsp; (893580) |
| (6000) | Palantir Technologies, Inc., Class A | &nbsp;&nbsp; (940260) |
|  |  | &nbsp;&nbsp; (2863930) |
|  | **SPECIALTY FINANCE - (3.1)%** |  |
| (50000) | SoFi Technologies, Inc. | &nbsp;&nbsp; (1277000) |
|  | **TECHNOLOGY SERVICES - (1.5)%** |  |
| (400) | Fair Isaac Corporation | &nbsp;&nbsp; (608656) |
|  | **TOTAL SECURITIES SOLD SHORT - (Proceeds - $17,667,616)** | &nbsp;&nbsp;$(21227026) |
| <br> (a) Non-income producing security.<br> (b) All or a portion of the security is held as collateral. | <br> (a) Non-income producing security.<br> (b) All or a portion of the security is held as collateral. |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** NORTHERN LIGHTS FUND TRUST II

- **b. Investment Company Act file number:** 811-22549

- **c. CIK number of Registrant:** 0001518042

- **d. LEI of Registrant:** 549300TH7YXW5G2QY588

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 631-470-2600

**Item A.2. Information about the Series.**

- **a. Name of Series:** One Global ETF

- **b. EDGAR series identifier (if any):** S000072561

- **c. LEI of Series:** 5493006XE0KB870NJS84

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-08-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $92612945.57

**Total Liabilities:** $67405.56

**Net Assets:** $92545540.01

**Cash Not Reported:** $1905908.39

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000228894 | 5.36%                | 1.91%                | 3.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $347417.14               | $3540636.90                                |
| Month 2  | $169519.14               | $1274611.84                                |
| Month 3  | $479917.64               | $2168543.32                                |

### Schedule of Portfolio Investments

| Name                                         | Title                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Halozyme Therapeutics Inc                    | HALOZYME THERAPE          | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     16670 | NS      | $1219410.50   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                            | EXXON MOBIL CORP          | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      8583 | NS      | $980951.07    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc.                                  | ZOETIS INC                | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      6166 | NS      | $964362.40    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                    | GOLDMAN SACHS GP          | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      1434 | NS      | $1068688.50   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                     | VISA INC-CLASS A          | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      3657 | NS      | $1286459.46   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc.                  | LPL FINANCIAL HO          | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      2702 | NS      | $984824.96    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                             | AMAZON.COM INC            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     10616 | NS      | $2431064.00   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| RH                                           | RH                        | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |      3035 | NS      | $684908.45    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc.                               | BLACKROCK INC             | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |       800 | NS      | $901712.00    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp.                            | KNIFE RIVER               | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6161 | NS      | $499041.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                 | NVIDIA CORP               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     14668 | NS      | $2554872.24   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                          | DOMINION ENERGY           | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     18287 | NS      | $1095391.30   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                        | UBER TECHNOLOGIE          | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      6721 | NS      | $630093.75    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| D.R. Horton, Inc.                            | DR HORTON INC             | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |      4349 | NS      | $737068.52    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Global E Online Ltd                          | GLOBAL-E ONLINE           | CUSIP: M5216V106<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     15600 | NS      | $521976.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                  | WALMART INC               | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     10296 | NS      | $998506.08    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc.                        | BWX TECHNOLOGIES          | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      3387 | NS      | $548829.48    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                    | ARGENX SE - ADR           | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      1148 | NS      | $817605.60    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                | ALPHABET INC-A            | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      8430 | NS      | $1794831.30   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                                      | AON PLC-CLASS A           | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |      2317 | NS      | $850339.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Nintendo Co Ltd.                             | NINTENDO CO LTD-UNSPONS A | CUSIP: 654445303<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |     34488 | NS      | $770461.92    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Yeti Holdings Inc                            | YETI HOLDINGS IN          | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |     28596 | NS      | $1005435.36   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                       | PALO ALTO NETWOR          | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      5561 | NS      | $1059481.72   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Co.                     | PROCTER & GAMBLE          | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      6681 | NS      | $1049184.24   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                       | BP PLC-ADR                | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |     23515 | NS      | $828433.45    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                            | NATIONAL GRI-ADR          | CUSIP: 636274409<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |      7487 | NS      | $528357.59    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corporation                            | INTEL CORP                | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     45499 | NS      | $1107900.65   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corporation                             | LEAR CORP                 | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |      8481 | NS      | $932910.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                            | JOHNSON&JOHNSON           | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      7315 | NS      | $1295998.55   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Fomento Economico Mexicano S A B de C V      | FOMENTO ECON-ADR          | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |      5716 | NS      | $495234.24    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                              | MICROSOFT CORP            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      3657 | NS      | $1852965.33   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Smiths Group PLC                             | SMITHS GROUP-ADR          | CUSIP: 83238P203<br>LEI: 213800MJL6IPZS3ASA11 | Long             | EC               | CORP              | GB        |     16179 | NS      | $527597.19    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                           | META PLATFORMS-A          | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      3225 | NS      | $2382307.50   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                          | ABBOTT LABS               | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      6903 | NS      | $915751.98    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings PLC                     | ROLLS-ROYCE-ADR           | CUSIP: 775781206<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |     62571 | NS      | $904150.95    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                              | BAE SYSTEMS PLC -SPON ADR | CUSIP: 05523R107<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |     13150 | NS      | $1239256.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Wynn Macau Ltd.                              | WYNN MACAU-ADR            | CUSIP: 98313R106<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | EC               | CORP              | KY        |     48804 | NS      | $469494.48    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                                | EQUINIX INC               | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1109 | NS      | $871884.71    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc                        | DELL TECHN-C              | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      7137 | NS      | $871784.55    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                                 | UNILEVER PLC-ADR          | CUSIP: 904767704<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |     17165 | NS      | $1084828.00   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Haleon PLC                                   | HALEON-ADR                | CUSIP: 405552100<br>LEI: 549300PSB3WWEODCUP19 | Long             | EC               | CORP              | GB        |     65873 | NS      | $645555.40    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliancebernstein Holding L.P.               | ALLIANCEBERNSTEIN HOLDING | CUSIP: 01881G106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14811 | NS      | $586219.38    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                       | SAP SE-SPONS ADR          | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |      2496 | NS      | $679311.36    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                          | CISCO SYSTEMS             | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     12721 | NS      | $878893.89    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                              | HOME DEPOT INC            | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      2349 | NS      | $955502.73    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                              | SALESFORCE INC            | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      3335 | NS      | $854593.75    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                 | UBS GROUP AG              | CUSIP: H42097107<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |     28138 | NS      | $1140151.76   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                                  | DATADOG INC-A             | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      4455 | NS      | $608909.40    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Gitlab Inc                                   | GITLAB INC-CL A           | CUSIP: 37637K108<br>LEI: 9845004Y40FACG81ED49 | Long             | EC               | CORP              | US        |     17545 | NS      | $842510.90    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc.                              | DRAFTKINGS INC            | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |     22409 | NS      | $1075183.82   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                                | PINTEREST INC -A          | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25690 | NS      | $941024.70    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                                 | DOORDASH INC-A            | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      4394 | NS      | $1077628.50   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                         | JPMORGAN CHASE            | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      4925 | NS      | $1484493.50   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp.                             | SONY GROUP-ADR            | CUSIP: 835699307<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |     33560 | NS      | $923571.20    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology S.A.                      | SPOTIFY TECHNOLO          | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |      1147 | NS      | $782116.36    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc.                       | RPM INTL INC              | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |      7315 | NS      | $916642.65    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Embraer S.A.                                 | EMBRAER SA-ADR            | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |     12491 | NS      | $703618.03    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                    | SAFRAN SA-ADR             | CUSIP: 786584102<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     10581 | NS      | $875577.75    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp.                       | ON SEMICONDUCTOR          | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     13734 | NS      | $681069.06    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                               | CITIGROUP INC             | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     12112 | NS      | $1169655.84   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide S.A.(L')                         | AIR LIQ-UNSP ADR          | CUSIP: 009126202<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |     14098 | NS      | $582811.32    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                        | SCHNEIDER ELECT SE-UNSP A | CUSIP: 80687P106<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     17165 | NS      | $843445.19    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Lazard Inc                                   | LAZARD INC                | CUSIP: 52110M109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15287 | NS      | $873804.92    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc.                                 | METLIFE INC               | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     10972 | NS      | $892681.92    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Baidu Inc.                                   | BAIDU INC-SP ADR          | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |      9443 | NS      | $899917.90    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                        | NXP SEMICONDUCTO          | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |      2585 | NS      | $607087.25    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated            | MICROCHIP TECH            | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     10295 | NS      | $669175.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                                | NETFLIX INC               | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      1048 | NS      | $1266246.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                                    | BLOCK INC                 | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |     15000 | NS      | $1194600.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ConvaTec Group PLC                           | CONVATEC GR-ADR           | CUSIP: 21244X109<br>LEI: 213800LS272L4FIDOH92 | Long             | EC               | CORP              | GB        |     33139 | NS      | $430807.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| GDS Holdings Ltd.                            | GDS HLDGS - ADR           | CUSIP: 36165L108<br>LEI: 391200MGV8DDCHTN2R77 | Long             | EC               | CORP              | KY        |     19569 | NS      | $676304.64    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                         | GILEAD SCIENCES           | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      5445 | NS      | $615121.65    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc.                                | ENBRIDGE INC              | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     13200 | NS      | $638686.42    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Millicom International Cellular SA           | MILLICOM INTL             | CUSIP: L6388F110<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |     18876 | NS      | $911899.56    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Galderma Group AG                            | GALDERMA GR-ADR           | CUSIP: 36321W105<br>LEI: 89450001OK6O8ELQ4584 | Long             | EC               | CORP              | CH        |     16588 | NS      | $581409.40    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corporation             | EDWARDS LIFE              | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      8651 | NS      | $703672.34    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                 | THERMO FISHER             | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      2122 | NS      | $1045551.84   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthequity Inc                             | HEALTHEQUITY INC          | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |      6300 | NS      | $562779.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                              | CATERPILLAR INC           | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      2374 | NS      | $994800.96    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                                | CHEVRON CORP              | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6047 | NS      | $971148.20    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd.                               | CREDICORP LTD             | CUSIP: G2519Y108<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |      2779 | NS      | $714758.80    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation               | SCHWAB (CHARLES)          | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     10972 | NS      | $1051556.48   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Nike, Inc.                                   | NIKE INC -CL B            | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     11140 | NS      | $861901.80    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                              | T-MOBILE US INC           | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      3196 | NS      | $805360.04    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Company                     | AMERICAN EXPRESS          | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      1937 | NS      | $641689.36    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic, Inc.                           | CIRRUS LOGIC INC          | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |      6738 | NS      | $769412.22    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.                       | APPLIED MATERIAL          | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      5049 | NS      | $811677.24    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Incorporated          | VERTEX PHARM              | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      3326 | NS      | $1300532.52   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corporation                 | GENERAL DYNAMICS          | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      3657 | NS      | $1186952.49   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                              | DEERE & CO                | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      1562 | NS      | $747635.68    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd. | TAIWAN SEMIC-ADR          | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      4291 | NS      | $990663.17    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                   | APPLE INC                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     14370 | NS      | $3335851.80   | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                        | BANK OF AMERICA           | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     20823 | NS      | $1056559.02   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PLC              | LONDON STOCK-ADR          | CUSIP: 54211N101<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |     23661 | NS      | $743192.01    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-26

**Name of Applicant:** NORTHERN LIGHTS FUND TRUST II

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer