# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0000910472-26-005718
**Filing Date:** 2026-4
**Character Count:** 24457
**Document Hash:** b76fb641ee0639d0f9a4b3209f713f2d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-005718.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0000910472-26-005718

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**PERIOD START**: 20261130

**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:** 26897047

**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

### North Star Bond Fund (Series ID: S000045834)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000142876 | North Star Bond Fund Class I Shares | NSBDX           |

## Nport-Ex

babys

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **February 28, 2026** | **February 28, 2026** | **February 28, 2026** | **February 28, 2026** | **February 28, 2026** |
| **Shares** |  |  |  | **Fair Value** |
|  | **PREFERRED STOCKS — 12.6%** |  |  |  |
|  | **BANKING — 6.0%** |  |  |  |
| 29000 | Bank of America Corporation - Series E, 5.9186% |  |  | $587830 |
| 26000 | Bank of Hawaii Corporation, 8.0000% |  |  | 690820 |
| 28000 | First Busey Corporation, 8.2500% |  |  | 725760 |
| 6000 | Wintrust Financial Corporation, 7.8750% |  |  | 160200 |
|  |  |  |  | 2164610 |
|  | **INSTITUTIONAL FINANCIAL SERVICES — 2.3%** |  |  |  |
| 1000000 | Mellon Capital IV - Series 1, 4.5212% |  |  | 851296 |
|  | **REAL ESTATE INVESTMENT TRUSTS — 4.3%** |  |  |  |
| 31300 | EPR Properties - Series C, 5.7500% |  |  | 823816 |
| 16000 | LXP Industrial Trust - Series C, 6.500% |  |  | 732640 |
|  |  |  |  | 1556456 |
|  | **TOTAL PREFERRED STOCKS (Cost $4,478,581)** |  |  | 4572362 |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** |  |
|  | **CORPORATE BONDS — 78.8%** |  |  |  |
|  | **AEROSPACE & DEFENSE — 1.6%** |  |  |  |
| 600000 | TransDigm, Inc. | 4.6250 | 01/15/29 | 598120 |
|  | **APPAREL & TEXTILE PRODUCTS — 4.0%** |  |  |  |
| 1475000 | Under Armour, Inc. | 3.2500 | 06/15/26 | 1469082 |
|  | **ASSET MANAGEMENT — 5.0%** |  |  |  |
| 850000 | Blackstone Private Credit Fund | 2.6250 | 12/15/26 | 836567 |
| 1000000 | Hercules Capital, Inc. | 2.6250 | 09/16/26 | 988998 |
|  |  |  |  | 1825565 |
|  | **BANKING — 4.1%** |  |  |  |
| 1500000 | Wintrust Financial Corporation | 4.8500 | 06/06/29 | 1495974 |
|  | **BIOTECH & PHARMA — 4.0%** |  |  |  |
| 1400000 | Elanco Animal Health, Inc. | 6.6500 | 08/28/28 | 1458947 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **February 28, 2026** | **February 28, 2026** | **February 28, 2026** | **February 28, 2026** | **February 28, 2026** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 78.8% (Continued)** |  |  |  |
|  | **ENGINEERING & CONSTRUCTION — 6.1%** |  |  |  |
| 900000 | Brundage-Bone Concrete Pumping Holdings, Inc.<sup>(a)</sup> | 7.5000 | 02/01/32 | $917574 |
| 1300000 | Great Lakes Dredge & Dock Corporation | 5.2500 | 06/01/29 | 1297319 |
|  |  |  |  | 2214893 |
|  | **HOME & OFFICE PRODUCTS — 11.9%** |  |  |  |
| 1500000 | ACCO Brands Corporation<sup>(a)</sup> | 4.2500 | 03/15/29 | 1383016 |
| 1510000 | Scotts Miracle-Gro Company (The) | 5.2500 | 12/15/26 | 1514109 |
| 1400000 | Steelcase, Inc. | 5.1250 | 01/18/29 | 1392674 |
|  |  |  |  | 4289799 |
|  | **HOME CONSTRUCTION — 6.8%** |  |  |  |
| 1475000 | Beazer Homes USA, Inc. | 5.8750 | 10/15/27 | 1478206 |
| 1000000 | M/I Homes, Inc. | 4.9500 | 02/01/28 | 998218 |
|  |  |  |  | 2476424 |
|  | **HOUSEHOLD PRODUCTS — 5.6%** |  |  |  |
| 1300000 | Central Garden & Pet Company | 4.1250 | 10/15/30 | 1255477 |
| 200000 | Energizer Holdings, Inc. | 4.7500 | 06/15/28 | 198855 |
| 600000 | Energizer Holdings, Inc.<sup>(a)</sup> | 6.0000 | 09/15/33 | 586567 |
|  |  |  |  | 2040899 |
|  | **INSURANCE — 3.6%** |  |  |  |
| 1300000 | Horace Mann Educators Corporation | 4.7000 | 10/01/30 | 1305878 |
|  | **LEISURE FACILITIES & SERVICES — 14.2%** |  |  |  |
| 800000 | Brinker International, Inc.<sup>(a)</sup> | 8.2500 | 07/15/30 | 845833 |
| 250000 | Carnival Corporation | 6.6500 | 01/15/28 | 260190 |
| 1450000 | Churchill Downs, Inc.<sup>(a)</sup> | 4.7500 | 01/15/28 | 1447706 |
| 1300000 | Lindblad Expeditions, LLC<sup>(a)</sup> | 7.0000 | 09/15/30 | 1364464 |
| 1200000 | Vail Resorts, Inc. | 5.6250 | 07/15/30 | 1221798 |
|  |  |  |  | 5139991 |
|  | **MEDICAL EQUIPMENT & DEVICES — 0.7%** |  |  |  |
| 250000 | Embecta Corporation<sup>(a)</sup> | 6.7500 | 02/15/30 | 242730 |
|  | **OIL & GAS SERVICES & EQUIPMENT — 4.2%** |  |  |  |
| 1500000 | Oceaneering International, Inc. | 6.0000 | 02/01/28 | 1531110 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** | **NORTH STAR BOND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **February 28, 2026** | **February 28, 2026** | **February 28, 2026** | **February 28, 2026** | **February 28, 2026** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 78.8% (Continued)** |  |  |  |
|  | **REAL ESTATE INVESTMENT TRUSTS — 5.0%** |  |  |  |
| 1400000 | EPR Properties | 4.9500 | 04/15/28 | $1417254 |
| 400000 | IIP Operating Partnership, L.P. | 5.5000 | 05/25/26 | 397278 |
|  |  |  |  | 1814532 |
|  | **RETAIL - DISCRETIONARY — 2.0%** |  |  |  |
| 750000 | BlueLinx Holdings, Inc.<sup>(a)</sup> | 6.0000 | 11/15/29 | 740224 |
|  | **TOTAL CORPORATE BONDS (Cost $28,257,564)** |  |  | 28644168 |
|  | **U.S. GOVERNMENT & AGENCIES — 5.5%** |  |  |  |
|  | **U.S. TREASURY BILLS — 5.5%** |  |  |  |
| 1000000 | United States Treasury Bill<sup>(c)</sup> | 2.1900 | 03/05/26 | 999699 |
| 1000000 | United States Treasury Bill<sup>(c)</sup> | 3.5300 | 04/16/26 | 995479 |
|  |  |  |  | 1995178 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $1,995,079)** |  |  | 1995178 |
| **Shares** |  |  |  |  |
|  | **SHORT-TERM INVESTMENT — 2.0%** |  |  |  |
|  | **MONEY MARKET FUND - 2.0%** |  |  |  |
| 722306 | First American Treasury Obligations Fund, Class X, 3.60%<sup>(c)</sup><br> (Cost $722,306) |  |  | 722306 |
|  | **TOTAL INVESTMENTS - 98.9% (Cost $35,453,530)** |  |  | $35934014 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 1.1%** |  |  | 395738 |
|  | **NET ASSETS - 100.0%** |  |  | $36329752 |

---

---

| | |
|:---|:---|
| LLC | - Limited Liability Company |
| L.P. | - Limited Partnership |

---

<sup>(a)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933, as amended. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of February 28, 2026, the total market value of Rule 144A securities is $7,528,114 or 20.7% of net assets.

<sup>(b)</sup> Zero coupon bond. Rate disclosed is the current yield as of February 28, 2026.

<sup>(c)</sup> Rate disclosed is the seven day effective yield as of February 28, 2026.

## 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:** North Star Bond Fund

- **b. EDGAR series identifier (if any):** S000045834

- **c. LEI of Series:** 549300LVFYSURXH1FN39

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

- **a. Date of fiscal year-end:** 2026-11-30

- **b. Date as of which information is reported:** 2026-02-28

**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:** $36380955.28

**Total Liabilities:** $51203.47

**Net Assets:** $36329751.81

**Cash Not Reported:** $46550.00

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 1068.53520700 | **1-Year:** 527.85549900 | **5-Year:** 775.41369700 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 87.08401900 | **1-Year:** 1848.38833000 | **5-Year:** 2256.60109000 | **10-Year:** 159.71774900 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000142876 | 0.28%                | 0.72%                | 0.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $112898.64               | $-109960.16                                |
| Month 2  | $-1806.37                | $99058.98                                  |
| Month 3  | $16883.12                | $105168.21                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Brinker International, Inc.                  | EAT 8 1/4 07/15/30   | CUSIP: 109641AK6<br>LEI: 52990067JY6PBGJNTG76 | Long             | DBT              | CORP              | US        |    800000 | PA      | $845833.08    | 2.33%             | 2030-07-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Horace Mann Educators Corporation            | HMN 4.7 10/01/30     | CUSIP: 440327AM6<br>LEI: 254900G5YAV3A2YK8T32 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1305877.77   | 3.59%             | 2030-10-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Steelcase Inc                                | SCS 5 1/8 01/18/29   | CUSIP: 858155AE4<br>LEI: GIE4CCPBJDI8SMV1OX95 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1392674.08   | 3.83%             | 2029-01-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Embecta Corp.                                | EMBC 6 3/4 02/15/30  | CUSIP: 29082KAB1<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |    250000 | PA      | $242729.93    | 0.67%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| M/I Homes Inc.                               | MHO 4.95 02/01/28    | CUSIP: 55305BAS0<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998218.40    | 2.75%             | 2028-02-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Energizer Holdings Inc                       | ENR 6 09/15/33       | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    600000 | PA      | $586566.78    | 1.61%             | 2033-09-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| IIP Operating Partnership LP                 | IIPR 5 1/2 05/25/26  | CUSIP: 44988FAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $397278.16    | 1.09%             | 2026-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                 | B 03/05/26           | CUSIP: 912797RV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $999699.57    | 2.75%             | 2026-03-05      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Great Lakes Dredge & Dock Corporation        | GLDD 5 1/4 06/01/29  | CUSIP: U39023AG8<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1297318.66   | 3.57%             | 2029-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| BlueLinx Holdings Inc.                       | BXC 6 11/15/29       | CUSIP: 09624HAA7<br>LEI: 549300YSX7GU28F5I540 | Long             | DBT              | CORP              | US        |    750000 | PA      | $740223.83    | 2.04%             | 2029-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Blackstone Private Credit Fund               | BCRED 2 5/8 12/15/26 | CUSIP: 09261HAD9<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    850000 | PA      | $836566.67    | 2.30%             | 2026-12-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| The Scotts Miracle-Gro Company               | SMG 5 1/4 12/15/26   | CUSIP: 810186AP1<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   1510000 | PA      | $1514107.80   | 4.17%             | 2026-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EPR Properties                               | EPR 4.95 04/15/28    | CUSIP: 26884UAE9<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1417254.09   | 3.90%             | 2028-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Under Armour, Inc.                           | UA 3 1/4 06/15/26    | CUSIP: 904311AA5<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |   1475000 | PA      | $1469082.30   | 4.04%             | 2026-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Wintrust Financial Corporation               | WTFC 7 7/8 PERP      | CUSIP: 97650W702<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EP               | CORP              | US        |      6000 | NS      | $160200.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Energizer Holdings Inc                       | ENR 4 3/4 06/15/28   | CUSIP: U29195AD3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198854.94    | 0.55%             | 2028-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                              | TDG 4 5/8 01/15/29   | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    600000 | PA      | $598120.08    | 1.65%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Vail Resorts, Inc.                           | MTN 5 5/8 07/15/30   | CUSIP: U90984AG7<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1221798.00   | 3.36%             | 2030-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Mellon Capital IV                            | BK Float PERP        | CUSIP: 58551TAA5<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1000000 | PA      | $851296.00    | 2.34%             |  |  |  | Yes           |                  1 | On Loan: No      |
| LXP Industrial Trust                         | LXP 6 1/2 PERP       | CUSIP: 529043309<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EP               | CORP              | US        |     16000 | NS      | $732640.00    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs Inc                          | CHDN 4 3/4 01/15/28  | CUSIP: 171484AE8<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1447705.09   | 3.98%             | 2028-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Central Garden & Pet Company                 | CENT 4 1/8 10/15/30  | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1255477.73   | 3.46%             | 2030-10-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| EPR Properties                               | EPR 5 3/4 PERP       | CUSIP: 26884U208<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EP               | CORP              | US        |     31300 | NS      | $823816.00    | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Hawaii Corp.                         | BOH 8 PERP           | CUSIP: 062540307<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EP               | CORP              | US        |     26000 | NS      | $690820.00    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Elanco Animal Health Inc                     | ELAN 4.9 08/28/28    | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1458947.00   | 4.02%             | 2028-08-28      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Oceaneering International, Inc.              | OII 6 02/01/28       | CUSIP: 675232AD4<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1531110.00   | 4.21%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| First Busey Corporation                      | BUSE 8 1/4 PERP      | CUSIP: 319383600<br>LEI: 549300X4ZNLYSX7GUY60 | Long             | EP               | CORP              | US        |     28000 | NS      | $725760.00    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corporation                      | ACCO 4 1/4 03/15/29  | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1383016.25   | 3.81%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Beazer Homes USA Inc.                        | BZH 5 7/8 10/15/27   | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |   1475000 | PA      | $1478206.06   | 4.07%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Wintrust Financial Corporation               | WTFC 4.85 06/06/29   | CUSIP: 97650WAG3<br>LEI: Q774KI4AW80FHFW33O61 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1495974.39   | 4.12%             | 2029-06-06      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Lindblad Expeditions LLC                     | LIND 7 09/15/30      | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1364464.40   | 3.76%             | 2030-09-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Hercules Capital Inc                         | HTGC 2 5/8 09/16/26  | CUSIP: 427096AH5<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $988997.44    | 2.72%             | 2026-09-16      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                        | BAC 5.9186 PERP      | CUSIP: 060505815<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     29000 | NS      | $587830.00    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                 | B 04/16/26           | CUSIP: 912797QD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $995478.75    | 2.74%             | 2026-04-16      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| First American Funds Inc.                    | FIRST AM-TR OB-X     | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    722306 | PA      | $722306.46    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corporation                         | CCL 6.65 01/15/28    | CUSIP: 143658AH5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    250000 | PA      | $260189.75    | 0.72%             | 2028-01-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Brundage-Bone Concrete Pumping Holdings Inc. | BBCP 7 1/2 02/01/32  | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    900000 | PA      | $917574.30    | 2.53%             | 2032-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-27

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

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer