# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0000910472-26-005754
**Filing Date:** 2026-4
**Character Count:** 27347
**Document Hash:** 6ff1c6e815a03c8899c67974e5ec7316
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-005754.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0000910472-26-005754

**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:** 26897759

**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 Dividend Fund (Series ID: S000040441)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000125620 | North Star Dividend Fund Class I Shares | NSDVX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **NORTH STAR DIVIDEND FUND** | **NORTH STAR DIVIDEND FUND** | **NORTH STAR DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **February 28, 2026** | **February 28, 2026** | **February 28, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 94.5%** |  |
|  | **APPAREL & TEXTILE PRODUCTS - 8.0%** |  |
| 60000 | Movado Group, Inc. | $1497000 |
| 56000 | Rocky Brands, Inc. | 2531199 |
| 181000 | Superior Group of Companies, Inc. | 1797330 |
| 59000 | Weyco Group, Inc. | 1844930 |
|  |  | 7670459 |
|  | **ASSET MANAGEMENT – 8.5%** |  |
| 80000 | GCM Grosvenor, Inc. | 926400 |
| 28000 | Sprott, Inc. | 4538520 |
| 151000 | Westwood Holdings Group, Inc. | 2530760 |
|  |  | 7995680 |
|  | **AUTOMOTIVE - 1.4%** |  |
| 33000 | Standard Motor Products, Inc. | 1309440 |
|  | **BANKING - 5.4%** |  |
| 15850 | Bank of Hawaii Corporation | 1200955 |
| 76500 | Bar Harbor Bankshares | 2467890 |
| 10000 | Wintrust Financial Corporation | 1440600 |
|  |  | 5109445 |
|  | **CHEMICALS - 4.2%** |  |
| 46000 | Oil-Dri Corporation of America | 3120640 |
| 17000 | Stepan Company | 865130 |
|  |  | 3985770 |
|  | **COMMERCIAL SUPPORT SERVICES - 3.0%** |  |
| 23200 | ABM Industries, Inc. | 1032400 |
| 48000 | Ennis, Inc. | 1013280 |
| 200000 | Resources Connection, Inc. | 752000 |
|  |  | 2797680 |
|  | **CONSTRUCTION MATERIALS - 0.8%** |  |
| 18100 | Apogee Enterprises, Inc. | 720742 |
|  | **CONTAINERS & PACKAGING - 0.9%** |  |
| 36000 | Karat Packaging, Inc. | 887400 |

---

---

| | | |
|:---|:---|:---|
| **NORTH STAR DIVIDEND FUND** | **NORTH STAR DIVIDEND FUND** | **NORTH STAR DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **February 28, 2026** | **February 28, 2026** | **February 28, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 94.5% (Continued)** |  |
|  | **ELECTRIC UTILITIES - 7.7%** |  |
| 46000 | Avista Corporation | $1868520 |
| 38000 | Northwestern Energy Group, Inc. | 2658480 |
| 11600 | Otter Tail Corporation | 987160 |
| 33500 | Unitil Corporation | 1752385 |
|  |  | 7266545 |
|  | **ELECTRICAL EQUIPMENT - 3.1%** |  |
| 138000 | LSI Industries, Inc. | 2983560 |
|  | **GAS & WATER UTILITIES - 11.7%** |  |
| 59000 | Artesian Resources Corporation, Class A | 1998920 |
| 170000 | Global Water Resources, Inc. | 1557200 |
| 39000 | H2O America | 2097810 |
| 48000 | Northwest Natural Holding Company | 2545920 |
| 90000 | RGC Resources, Inc. | 1985400 |
| 28000 | York Water Company (The) | 920640 |
|  |  | 11105890 |
|  | **HOME & OFFICE PRODUCTS - 5.7%** |  |
| 357000 | ACCO Brands Corporation | 1452990 |
| 54000 | Flexsteel Industries, Inc. | 2779380 |
| 64000 | Hamilton Beach Brands Holding Company, Class A | 1218560 |
|  |  | 5450930 |
|  | **HOUSEHOLD PRODUCTS - 2.4%** |  |
| 169000 | Crown Crafts, Inc. | 493480 |
| 83000 | Energizer Holdings, Inc. | 1791970 |
|  |  | 2285450 |
|  | **INDUSTRIAL REIT - 1.1%** |  |
| 21400 | LXP Industrial Trust | 1060584 |
|  | **INSURANCE - 2.0%** |  |
| 84000 | Crawford & Company, Class A | 903840 |
| 23000 | Horace Mann Educators Corporation | 1000730 |
|  |  | 1904570 |

---

---

| | | |
|:---|:---|:---|
| **NORTH STAR DIVIDEND FUND** | **NORTH STAR DIVIDEND FUND** | **NORTH STAR DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **February 28, 2026** | **February 28, 2026** | **February 28, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 94.5% (Continued)** |  |
|  | **LEISURE PRODUCTS - 2.2%** |  |
| 143000 | Escalade, Inc. | $2059200 |
|  | **MEDICAL EQUIPMENT & DEVICES - 1.0%** |  |
| 90000 | Embecta Corporation | 923400 |
|  | **OIL & GAS PRODUCERS – 2.9%** |  |
| 270000 | Evolution Petroleum Corporation | 1206900 |
| 31000 | Riley Exploration Permian, Inc. | 894040 |
| 35000 | Vitesse Energy, Inc. | 675850 |
|  |  | 2776790 |
|  | **OIL & GAS SERVICES & EQUIPMENT - 2.7%** |  |
| 187000 | Select Water Solutions, Inc. | 2556290 |
|  | **RESIDENTIAL REIT - 2.0%** |  |
| 125000 | UMH Properties, Inc. | 1885000 |
|  | **RETAIL - CONSUMER STAPLES - 2.1%** |  |
| 50000 | Village Super Market, Inc., Class A | 1957500 |
|  | **RETAIL - DISCRETIONARY - 4.6%** |  |
| 22000 | Buckle, Inc. (The) | 1178100 |
| 103000 | Ethan Allen Interiors, Inc. | 2346340 |
| 41000 | Shoe Carnival, Inc. | 827790 |
|  |  | 4352230 |
|  | **SPECIALTY FINANCE - 2.7%** |  |
| 14000 | GATX Corporation | 2578380 |
|  | **SPECIALTY REIT - 4.3%** |  |
| 196000 | Postal Realty Trust, Inc., Class A | 4063080 |
|  | **TECHNOLOGY SERVICES - 1.4%** |  |
| 23000 | John Wiley & Sons, Inc., Class A | 713460 |
| 16100 | Value Line, Inc. | 591514 |
|  |  | 1304974 |

---

---

| | | |
|:---|:---|:---|
| **NORTH STAR DIVIDEND FUND** | **NORTH STAR DIVIDEND FUND** | **NORTH STAR DIVIDEND FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **February 28, 2026** | **February 28, 2026** | **February 28, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 94.5% (Continued)** |  |
|  | **TELECOMMUNICATIONS - 1.6%** |  |
| 122000 | Spok Holdings, Inc. | $1481080 |
|  | **TRANSPORTATION & LOGISTICS - 1.1%** |  |
| 15000 | Euroseas Ltd. | 1031100 |
|  | **TOTAL COMMON STOCKS (Cost $66,612,894)** | 89503169 |
|  | **PREFERRED STOCK — 1.0%** |  |
|  | **HOME CONSTRUCTION — 1.0%** |  |
| 40000 | Green Brick Partners, Inc., 5.7500% | 900000 |
|  | **TOTAL PREFERRED STOCK (Cost $846,709)** | 900000 |
|  | **SHORT-TERM INVESTMENT — 4.1%** |  |
|  | **MONEY MARKET FUND - 4.1%** |  |
| 3877687 | First American Treasury Obligations Fund, Class X, 3.60%<sup>(a)</sup><br> (Cost $3,877,687) | 3877687 |
|  | **TOTAL INVESTMENTS - 99.6% (Cost $71,337,290)** | $94280856 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.4%** | 331473 |
|  | **NET ASSETS - 100.0%** | $94612329 |

---

---

| | |
|:---|:---|
| Ltd. | - Limited Company |
| REIT | - Real Estate Investment Trust |

---

<sup>(a)</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 Dividend Fund

- **b. EDGAR series identifier (if any):** S000040441

- **c. LEI of Series:** 549300PH7E83UXZFBS09

**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:** $94725039.25

**Total Liabilities:** $112710.23

**Net Assets:** $94612329.02

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000125620 | 0.19%                | 6.79%                | 4.97%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2269375.76              | $-2312300.75                               |
| Month 2  | $90385.25                | $5523971.41                                |
| Month 3  | $625851.79               | $3561984.03                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Evolution Petr Cor                | EVOLUTION PETROL          | CUSIP: 30049A107<br>LEI: 549300P9ZXGJZ6SSM116 | Long             | EC               | CORP              | US        |    270000 | NS      | $1206900.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions Inc        | SELECT WATER SOL          | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |    187000 | NS      | $2556290.00   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust              | LXP INDUSTRIAL T          | CUSIP: 529043408<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |     21400 | NS      | $1060584.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Enterprises Inc.           | APOGEE ENTERPR            | CUSIP: 037598109<br>LEI: 549300579S7QW8V4IJ60 | Long             | EC               | CORP              | US        |     18100 | NS      | $720742.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners Inc.         | GRBK 5 3/4 PERP           | CUSIP: 392709200<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EP               | CORP              | US        |     40000 | NS      | $900000.00    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| GCM Grosvenor Inc                 | GCM GROSVENOR-A           | CUSIP: 36831E108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80000 | NS      | $926400.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Movado Group Inc                  | MOVADO GROUP              | CUSIP: 624580106<br>LEI: 549300WCGCGPWGHVXM59 | Long             | EC               | CORP              | US        |     60000 | NS      | $1497000.00   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Embecta Corp.                     | EMBECTA CORP              | CUSIP: 29082K105<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | EC               | CORP              | US        |     90000 | NS      | $923400.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Euroseas Ltd                      | EUROSEAS LTD              | CUSIP: Y23592135<br>LEI: 213800ADWWZOFC9KU444 | Long             | EC               | CORP              | MH        |     15000 | NS      | $1031100.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Westwood Holdings Group Inc.      | WESTWOOD HOLDING          | CUSIP: 961765104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    151000 | NS      | $2530760.00   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corporation | HORACE MANN EDUC          | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |     23000 | NS      | $1000730.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Otter Tail Corporation            | OTTER TAIL CORP           | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11600 | NS      | $987160.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Water Resources Inc.       | GLOBAL WATER RES          | CUSIP: 379463102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    170000 | NS      | $1557200.00   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Vitesse Energy Inc.               | VITESSE ENERGY            | CUSIP: 92852X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35000 | NS      | $675850.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Crafts Inc                  | CROWN CRAFTS INC          | CUSIP: 228309100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    169000 | NS      | $493480.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Flexsteel Industries Inc.         | FLEXSTEEL INDS            | CUSIP: 339382103<br>LEI: 894500J5Y3ZZOOJXXN24 | Long             | EC               | CORP              | US        |     54000 | NS      | $2779380.00   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Inc                        | SPROTT INC                | CUSIP: 852066208<br>LEI: 254900QHJAD5TP2JNM15 | Long             | EC               | CORP              | CA        |     28000 | NS      | $4538520.00   | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust Inc           | POSTAL REALTY-A           | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               | CORP              | US        |    196000 | NS      | $4063080.00   | 4.29%             |  |  |  | No            |                  1 | On Loan: No      |
| The York Water Co.                | YORK WATER CO             | CUSIP: 987184108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28000 | NS      | $920640.00    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.         | FIRST AM-TR OB-X          | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   3877687 | PA      | $3877686.59   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Stepan Co                         | STEPAN CO                 | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Long             | EC               | CORP              | US        |     17000 | NS      | $865130.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Ennis Inc                         | ENNIS INC                 | CUSIP: 293389102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48000 | NS      | $1013280.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival Inc                 | SHOE CARNIVAL             | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41000 | NS      | $827790.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corporation                  | GATX CORP                 | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |     14000 | NS      | $2578380.00   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Artesian Resources Corp.          | ARTESIAN RESOURCES CORP-C | CUSIP: 043113208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59000 | NS      | $1998920.00   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection Inc.         | RESOURCES CONNEC          | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200000 | NS      | $752000.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyco Group Inc.                  | WEYCO GROUP               | CUSIP: 962149100<br>LEI: 549300I10J38MHJELM87 | Long             | EC               | CORP              | US        |     59000 | NS      | $1844930.00   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corporation    | WINTRUST FINL             | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     10000 | NS      | $1440600.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors Inc.        | ETHAN ALLEN               | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    103000 | NS      | $2346340.00   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| NorthWestern Energy Group Inc     | NORTHWESTERN ENE          | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |     38000 | NS      | $2658480.00   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Karat Packaging Inc.              | KARAT PACKAGING           | CUSIP: 48563L101<br>LEI: 549300JYUKCQP3P8D632 | Long             | EC               | CORP              | US        |     36000 | NS      | $887400.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| BAR Harbour Banksh                | BAR HARBOR BNKSH          | CUSIP: 066849100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76500 | NS      | $2467890.00   | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocky Brands Inc.                 | ROCKY BRANDS INC          | CUSIP: 774515100<br>LEI: 5299004HQ6GCTW838N96 | Long             | EC               | CORP              | US        |     56000 | NS      | $2531200.00   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Crawford & Co                     | CRAWFORD & CO-A           | CUSIP: 224633206<br>LEI: 7TZZFJ2GPOGLWIKIXY82 | Long             | EC               | CORP              | US        |     84000 | NS      | $903840.00    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckle Inc                        | THE BUCKLE INC            | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |     22000 | NS      | $1178100.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Village Super Market Inc.         | VILLAGE SUPER -A          | CUSIP: 927107409<br>LEI: 25490069686XCNNEMQ07 | Long             | EC               | CORP              | US        |     50000 | NS      | $1957500.00   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| RGC Resources Inc                 | RGC RESOURCES             | CUSIP: 74955L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     90000 | NS      | $1985400.00   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Unitil Corp                       | UNITIL CORP               | CUSIP: 913259107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33500 | NS      | $1752385.00   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corporation           | ACCO BRANDS CORP          | CUSIP: 00081T108<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | EC               | CORP              | US        |    357000 | NS      | $1452990.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Value Line Inc.                   | VALUE LINE INC            | CUSIP: 920437100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16100 | NS      | $591514.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Wiley John & Sons Inc.            | WILEY JOHN&SON-A          | CUSIP: 968223206<br>LEI: 5493003XM719UN7E8P64 | Long             | EC               | CORP              | US        |     23000 | NS      | $713460.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Escalade Inc.                     | ESCALADE INC              | CUSIP: 296056104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    143000 | NS      | $2059200.00   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| H2O America                       | H2O AMERICA               | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39000 | NS      | $2097810.00   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Superior Group of Companies Inc.  | SUPERIOR GROUP O          | CUSIP: 868358102<br>LEI: UOX145EEO0TB0ZWX2152 | Long             | EC               | CORP              | US        |    181000 | NS      | $1797330.00   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Motor Products, Inc.     | STANDARD MOTOR            | CUSIP: 853666105<br>LEI: THGK1EO5B5HK0JHQVZ90 | Long             | EC               | CORP              | US        |     33000 | NS      | $1309440.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Natural Holding Company | NORTHWEST NATURA          | CUSIP: 66765N105<br>LEI: 254900PSJL6ZEC8FR782 | Long             | EC               | CORP              | US        |     48000 | NS      | $2545920.00   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corporation                | AVISTA CORP               | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     46000 | NS      | $1868520.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ABM Industries Inc.               | ABM INDUSTRIES            | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |     23200 | NS      | $1032400.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Spok Hldgs Inc                    | SPOK HOLDINGS IN          | CUSIP: 84863T106<br>LEI: 549300HXXANIVN2ICC89 | Long             | EC               | CORP              | US        |    122000 | NS      | $1481080.00   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Energizer Holdings Inc            | ENERGIZER HOLDIN          | CUSIP: 29272W109<br>LEI: 5493000D6NN0V57UME20 | Long             | EC               | CORP              | US        |     83000 | NS      | $1791970.00   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties Inc                | UMH PROPERTIES I          | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |    125000 | NS      | $1885000.00   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Hawaii Corp.              | BANK OF HAWAII            | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EC               | CORP              | US        |     15850 | NS      | $1200954.50   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil-Dri Corporation Of America    | OIL DRI CORP              | CUSIP: 677864100<br>LEI: 549300RSG5KPUH16WH66 | Long             | EC               | CORP              | US        |     46000 | NS      | $3120640.00   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| LSI Industries Inc.               | LSI INDUSTRIES            | CUSIP: 50216C108<br>LEI: 529900HY42OANH6BVT33 | Long             | EC               | CORP              | US        |    138000 | NS      | $2983560.00   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Beach Brands Holding Co. | HAMILTON -A               | CUSIP: 40701T104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64000 | NS      | $1218560.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Riley Exploration Permian Inc.    | RILEY EXPLORATIO          | CUSIP: 76665T102<br>LEI: 5493008CUBI02XP43Q95 | Long             | EC               | CORP              | US        |     31000 | NS      | $894040.00    | 0.94%             |  |  |  | No            |                  1 | 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