# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0000910472-26-002813
**Filing Date:** 2026-2
**Character Count:** 23326
**Document Hash:** dcb3de1f93a5e935a56e1b307335f145
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-002813.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000910472-26-002813

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260331

**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:** 26683572

**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

### Hodges Small Intrinsic Value Fund (Series ID: S000081360)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000244086 | Retail Class Shares |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **HODGES SMALL INTRINSIC VALUE FUND** | **HODGES SMALL INTRINSIC VALUE FUND** | **HODGES SMALL INTRINSIC VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.5%** |  |
|  | **APPAREL & TEXTILE PRODUCTS - 3.1%** |  |
| 16800 | Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp; $1026312 |
| 13800 | Steven Madden Ltd. | &nbsp;&nbsp;&nbsp; 574632 |
|  |  | &nbsp;&nbsp; 1600944 |
|  | **BANKING - 17.8%** |  |
| 135340 | Banc of California, Inc. | &nbsp;&nbsp;&nbsp; 2610708 |
| 49440 | Bank OZK | &nbsp;&nbsp;&nbsp; 2275228 |
| 72325 | Bridgewater Bancshares, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1267857 |
| 19800 | Texas Capital Bancshares, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1792692 |
| 19360 | Triumph Financial, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1212517 |
|  |  | &nbsp;&nbsp; 9159002 |
|  | **BIOTECH & PHARMA - 1.8%** |  |
| 13700 | Halozyme Therapeutics, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 922010 |
|  | **COMMERCIAL SUPPORT SERVICES - 2.3%** |  |
| 72600 | GEO Group, Inc. (The)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1170312 |
|  | **CONSTRUCTION MATERIALS - 3.6%** |  |
| 8850 | Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp; 1829118 |
|  | **CONTAINERS & PACKAGING - 1.7%** |  |
| 46600 | Myers Industries, Inc. | &nbsp;&nbsp;&nbsp; 872352 |
|  | **ELECTRICAL EQUIPMENT - 2.0%** |  |
| 3220 | Powell Industries, Inc. | &nbsp;&nbsp;&nbsp; 1026472 |
|  | **ENGINEERING & CONSTRUCTION - 2.5%** |  |
| 10500 | Primoris Services Corporation | &nbsp;&nbsp;&nbsp; 1303470 |
|  | **FOOD - 0.9%** |  |
| 18000 | BellRing Brands, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 481140 |
|  | **HOME CONSTRUCTION - 2.6%** |  |
| 22975 | Taylor Morrison Home Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1352538 |

---

---

| | | |
|:---|:---|:---|
| **HODGES SMALL INTRINSIC VALUE FUND** | **HODGES SMALL INTRINSIC VALUE FUND** | **HODGES SMALL INTRINSIC VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.5% (Continued)** |  |
|  | **INDUSTRIAL INTERMEDIATE PRODUCTS – 2.9%** |  |
| 7500 | AZZ, Inc. | &nbsp;&nbsp;&nbsp;$803850 |
| 80700 | Hillman Solutions Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 698862 |
|  |  | &nbsp;&nbsp; 1502712 |
|  | **INSURANCE - 5.7%** |  |
| 5880 | Hanover Insurance Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 1074688 |
| 28600 | Horace Mann Educators Corporation | &nbsp;&nbsp;&nbsp; 1320748 |
| 28300 | Tiptree, Inc. | &nbsp;&nbsp;&nbsp; 517041 |
|  |  | &nbsp;&nbsp; 2912477 |
|  | **LEISURE FACILITIES & SERVICES - 1.2%** |  |
| 27000 | Cinemark Holdings, Inc. | &nbsp;&nbsp;&nbsp; 627480 |
|  | **METALS & MINING – 1.5%** |  |
| 166000 | Vox Royalty Corporation | &nbsp;&nbsp;&nbsp; 786840 |
|  | **OIL & GAS PRODUCERS - 5.6%** |  |
| 9515 | Gulfport Energy Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1979025 |
| 21400 | Matador Resources Company | &nbsp;&nbsp;&nbsp; 908216 |
|  |  | &nbsp;&nbsp; 2887241 |
|  | **REAL ESTATE OWNERS & DEVELOPERS - 2.4%** |  |
| 51300 | Stratus Properties, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1240434 |
|  | **RETAIL - DISCRETIONARY - 15.4%** |  |
| 54500 | Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;&nbsp; 2722820 |
| 33100 | Citi Trends, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1375636 |
| 2000 | Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp; 786600 |
| 69000 | Haverty Furniture Companies, Inc. | &nbsp;&nbsp;&nbsp; 1611840 |
| 86418 | Shoe Carnival, Inc. | &nbsp;&nbsp;&nbsp; 1458736 |
|  |  | &nbsp;&nbsp; 7955632 |
|  | **SEMICONDUCTORS - 4.2%** |  |
| 63245 | MaxLinear, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1102360 |
| 9200 | Tower Semiconductor Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1080264 |
|  |  | &nbsp;&nbsp; 2182624 |

---

---

| | | | |
|:---|:---|:---|:---|
| **HODGES SMALL INTRINSIC VALUE FUND** | **HODGES SMALL INTRINSIC VALUE FUND** | **HODGES SMALL INTRINSIC VALUE FUND** | **HODGES SMALL INTRINSIC VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** | **Shares** |  | **Fair Value** |
| | | **COMMON STOCKS — 98.5% (Continued)** |  |
| | | **SOFTWARE - 1.8%** |  |
| 40910 | 40910 | Alkami Technology, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $943794 |
|  |  | **STEEL – 6.7%** |  |
| 128600 | 128600 | Cleveland-Cliffs, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1707808 |
| 24740 | 24740 | Commercial Metals Company | &nbsp;&nbsp;&nbsp; 1712503 |
|  |  |  | &nbsp;&nbsp; 3420311 |
|  |  | **TECHNOLOGY HARDWARE - 3.7%** |  |
| 38000 | 38000 | Aviat Networks, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 812440 |
| 28300 | 28300 | NCR Atleos Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1078513 |
|  |  |  | &nbsp;&nbsp; 1890953 |
|  |  | **TRANSPORTATION & LOGISTICS - 6.0%** |  |
| 10150 | 10150 | Kirby Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1118327 |
| 73000 | 73000 | Navigator Holdings Ltd. | &nbsp;&nbsp;&nbsp; 1264360 |
| 57400 | 57400 | RXO, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 725536 |
|  |  |  | &nbsp;&nbsp; 3108223 |
|  |  | **TRANSPORTATION EQUIPMENT - 3.1%** |  |
| 15700 | 15700 | Blue Bird Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 737900 |
| 17700 | 17700 | Greenbrier Companies, Inc. (The) | &nbsp;&nbsp;&nbsp; 827298 |
|  |  |  | &nbsp;&nbsp; 1565198 |
|  |  | **TOTAL COMMON STOCKS (Cost $43,702,787)** | &nbsp;&nbsp; 50741277 |
|  |  | **SHORT-TERM INVESTMENTS — 1.4%** |  |
|  |  | **MONEY MARKET FUNDS - 1.4%** |  |
| 741413 | 741413 | First American Treasury Obligations Fund, Class X, 3.68% (Cost $741,413)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 741413 |
|  |  | **TOTAL INVESTMENTS - 99.9% (Cost $44,444,200)** | &nbsp;&nbsp;&nbsp; $51482690 |
|  |  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%** | &nbsp;&nbsp; 57397 |
|  |  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $51540087 |
| Ltd. | Ltd. | - Limited Company |  |
| <sup>(a)</sup> | Non-income producing security. | Non-income producing security. |  |
| <sup>(b)</sup> | Rate disclosed is the seven day effective yield as of December 31, 2025. | Rate disclosed is the seven day effective yield as of December 31, 2025. |  |

---

## 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:** Hodges Small Intrinsic Value Fund

- **b. EDGAR series identifier (if any):** S000081360

- **c. LEI of Series:** 529900YR6QZCLM5S3I59

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $51787223.99

**Total Liabilities:** $247137.08

**Net Assets:** $51540086.91

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000244086 | -3.13%               | 2.24%                | -0.26%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $44743.84                | $-1756342.41                               |
| Month 2  | $32904.70                | $990986.12                                 |
| Month 3  | $29391.00                | $-182948.97                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AZZ Inc                             | AZZ INC          | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |      7500 | NS      | $803850.00    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Academy Sports and Outdoors Inc     | ACADEMY SPORTS & | CUSIP: 00402L107<br>LEI: 529900HST589BD301M91 | Long             | EC               | CORP              | US        |     54500 | NS      | $2722820.00   | 5.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkami Technology Inc.              | ALKAMI TECHNOLOG | CUSIP: 01644J108<br>LEI: 254900FCNYU4HNEV9L47 | Long             | EC               | CORP              | US        |     40910 | NS      | $943793.70    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Aviat Networks Inc.                 | AVIAT NETWORKS I | CUSIP: 05366Y201<br>LEI: 549300Z3X8Z4MK52CI65 | Long             | EC               | CORP              | US        |     38000 | NS      | $812440.00    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Banc Of California Inc.             | BANC OF CALIFORN | CUSIP: 05990K106<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EC               | CORP              | US        |    135340 | NS      | $2610708.60   | 5.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                            | BANK OZK         | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |     49440 | NS      | $2275228.80   | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Intermediate Holdings Inc. | BELLRING BRANDS  | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |     18000 | NS      | $481140.00    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp.                     | BLUE BIRD CORP   | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |     15700 | NS      | $737900.00    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgewater Bancshares Inc.         | BRIDGEWATER BANC | CUSIP: 108621103<br>LEI: 5493001FLSBTVILKXZ71 | Long             | EC               | CORP              | US        |     72325 | NS      | $1267857.25   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Cinemark Holdings Inc.              | CINEMARK HOLDING | CUSIP: 17243V102<br>LEI: 549300LL2QMPTYIE0K55 | Long             | EC               | CORP              | US        |     27000 | NS      | $627480.00    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Citi Trends Inc.                    | CITI TRENDS INC  | CUSIP: 17306X102<br>LEI: 529900D06Q0FPHV34S87 | Long             | EC               | CORP              | US        |     33100 | NS      | $1375636.00   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleveland-Cliffs Inc                | CLEVELAND-CLIFFS | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |    128600 | NS      | $1707808.00   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Company           | COMMERCIAL METAL | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     24740 | NS      | $1712502.80   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                | EAGLE MATERIALS  | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      8850 | NS      | $1829118.00   | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.           | FIRST AM-TR OB-X | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    741413 | PA      | $741412.58    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| GEO Group Inc                       | GEO GROUP INC/TH | CUSIP: 36162J106<br>LEI: 54930024XOXET7NQVZ63 | Long             | EC               | CORP              | US        |     72600 | NS      | $1170312.00   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| The Greenbrier Companies, Inc.      | GREENBRIER COS   | CUSIP: 393657101<br>LEI: 5493001GAGGFR30BP390 | Long             | EC               | CORP              | US        |     17700 | NS      | $827298.00    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive, Inc.            | GROUP 1 AUTOMOTI | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |      2000 | NS      | $786600.00    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Operating Corp.     | GULFPORT ENERGY  | CUSIP: 402635502<br>LEI: 549300FJX18IDUFPHD40 | Long             | EC               | CORP              | US        |      9515 | NS      | $1979024.85   | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc           | HALOZYME THERAPE | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     13700 | NS      | $922010.00    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| The Hanover Insurance Group, Inc.   | HANOVER INSURANC | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |      5880 | NS      | $1074687.60   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Haverty Furniture Cos Inc           | HAVERTY FURNITUR | CUSIP: 419596101<br>LEI: 529900CVFMMIRXZVPD70 | Long             | EC               | CORP              | US        |     69000 | NS      | $1611840.00   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillman Solutions Corp              | HILLMAN SOLUTION | CUSIP: 431636109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80700 | NS      | $698862.00    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corporation   | HORACE MANN EDUC | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |     28600 | NS      | $1320748.00   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                          | KIRBY CORP       | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     10150 | NS      | $1118327.00   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Kontoor Brands Inc                  | KONTOOR BRAND    | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |     16800 | NS      | $1026312.00   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Madden(Steven)Ltd.                  | STEVEN MADDEN    | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     13800 | NS      | $574632.00    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Company           | MATADOR RESOURCE | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     21400 | NS      | $908216.00    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Maxlinear Inc                       | MAXLINEAR        | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |     63245 | NS      | $1102360.35   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Myers Industries Inc.               | MYERS INDS INC   | CUSIP: 628464109<br>LEI: 549300I2H9XMVTCW4Q51 | Long             | EC               | CORP              | US        |     46600 | NS      | $872352.00    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Atleos Corp.                    | NCR ATLEOS CORP  | CUSIP: 63001N106<br>LEI: 9845005FC3S0VA714741 | Long             | EC               | CORP              | US        |     28300 | NS      | $1078513.00   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Powell Industries Inc.              | POWELL INDS INC  | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Long             | EC               | CORP              | US        |      3220 | NS      | $1026471.60   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Primoris Services Corp.             | PRIMORIS SERVICE | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Long             | EC               | CORP              | US        |     10500 | NS      | $1303470.00   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO Inc.                            | RXO INC          | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |     57400 | NS      | $725536.00    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival Inc                   | SHOE CARNIVAL    | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     86418 | NS      | $1458735.84   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Stratus Properties Inc.             | STRATUS PROP     | CUSIP: 863167201<br>LEI: 5493008I6ZRDZWT8ZZ15 | Long             | EC               | CORP              | US        |     51300 | NS      | $1240434.00   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp           | TAYLOR MORRISON  | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     22975 | NS      | $1352538.25   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares, Inc.      | TEXAS CAPITAL BA | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |     19800 | NS      | $1792692.00   | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Tiptree Inc.                        | TIPTREE INC      | CUSIP: 88822Q103<br>LEI: 254900EH52HA4YXENT37 | Long             | EC               | CORP              | US        |     28300 | NS      | $517041.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Triumph Financial Inc               | TRIUMPH FINANCIA | CUSIP: 89679E300<br>LEI: 5493003RNRMEVYDZ1Q52 | Long             | EC               | CORP              | US        |     19360 | NS      | $1212516.80   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Vox Royalty Corp.                   | VOX ROYALTY CORP | CUSIP: 92919F103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    166000 | NS      | $786840.00    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Tower Semiconductor Limited         | TOWER SEMICONDCT | CUSIP: M87915274<br>LEI: 54930086ZSNXZOUX0C54 | Long             | EC               | CORP              | IL        |      9200 | NS      | $1080264.00   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Navigator Holdings Ltd.             | NAVIGATOR HOLDIN | CUSIP: Y62132108<br>LEI: 213800H7RVOFYARK2W19 | Long             | EC               | CORP              | MH        |     73000 | NS      | $1264360.00   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-28

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

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer