# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0000910472-26-001061
**Filing Date:** 2026-1
**Character Count:** 42150
**Document Hash:** ef192a199d08c4e9ffa572e6786783c8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-001061.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0000910472-26-001061

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**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:** 26576189

**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

### Weitz Core Plus Bond ETF (Series ID: S000094334)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000262836 | Weitz Core Plus Bond ETF |  |

## 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:** Weitz Core Plus Bond ETF

- **b. EDGAR series identifier (if any):** S000094334

- **c. LEI of Series:** 529900KU95XD31ADI520

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

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

- **b. Date as of which information is reported:** 2025-11-30

**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:** $108120006.00

**Total Liabilities:** $17102873.00

**Net Assets:** $91017133.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 4.91168500 | **1-Year:** 227.59014900 | **5-Year:** 8645.78953800 | **10-Year:** 7392.99135500 | **30-Year:** 1297.26496400

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

- **3-Month:** 0.00000000 | **1-Year:** 620.71444700 | **5-Year:** 2170.92795400 | **10-Year:** 1162.74512600 | **30-Year:** 52.57937600

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000262836 | 1.25%                | 0.73%                | 0.48%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1281.35                 | $61370.95                                  |
| Month 2  | $8128.93                 | $42259.15                                  |
| Month 3  | $1144.56                 | $343965.74                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| United States Treasury Bonds                                       | T 4 5/8 11/15/44      | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5800000 | PA      | $5804078.10   | 6.38%             | 2044-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD8342             | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1240792 | PA      | $1260951.84   | 1.39%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                                                    | WHR 6 1/2 06/15/33    | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    350000 | PA      | $348052.92    | 0.38%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD8474             | CUSIP: 3132DWMX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    127798 | PA      | $127716.43    | 0.14%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN MA5495             | CUSIP: 31418FC96<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    212669 | PA      | $208355.56    | 0.23%             | 2054-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FN MA5189             | CUSIP: 31418EXT2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    473493 | PA      | $474099.24    | 0.52%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN FS8486             | CUSIP: 3140XQNC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    898485 | PA      | $884067.71    | 0.97%             | 2052-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ACREC 2021-FL1                                                     | ACREC 2021-FL1 D      | CUSIP: 00500RAJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2250000 | PA      | $2244255.75   | 2.47%             | 2036-10-16      | Floating      | 6.73%                 | Yes           |                  2 | On Loan: No      |
| STWD 2022-FL3 LTD                                                  | STWD 2022-FL3 AS      | CUSIP: 78485KAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     50000 | PA      | $50174.70     | 0.06%             | 2038-11-15      | Floating      | 5.94%                 | Yes           |                  2 | On Loan: No      |
| LMNT CRE LLC 2025-FL3                                              | LMNT 2025-FL3 C       | CUSIP: 50208TAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $1003500.00   | 1.10%             | 2043-07-21      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN MA5613             | CUSIP: 31418FGX9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    193555 | PA      | $193328.84    | 0.21%             | 2055-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FS Rialto 2021-Fl2 Issuer Ltd.                                     | FSRIA 2021-FL2 D      | CUSIP: 30319YAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1505332.50   | 1.65%             | 2038-05-16      | Floating      | 6.87%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                | PAWS 2025-1A A2       | CUSIP: 69433FAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1000000.00   | 1.10%             | 2056-01-30      | Fixed         | 6.82%                 | Yes           |                  2 | On Loan: No      |
| Polaris Inc.                                                       | PII 5.6 03/01/31      | CUSIP: 731068AB8<br>LEI: 549300QJSN8UVWN1EI78 | Long             | DBT              | CORP              | US        |    300000 | PA      | $303969.89    | 0.33%             | 2031-03-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR RA7773             | CUSIP: 3133KPT65<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    328450 | PA      | $315068.51    | 0.35%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN MA5419             | CUSIP: 31418FAV9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    108497 | PA      | $108482.50    | 0.12%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD8267             | CUSIP: 3132DWFG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5696821 | PA      | $5721406.01   | 6.29%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD8347             | CUSIP: 3132DWHY2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    214320 | PA      | $210504.50    | 0.23%             | 2053-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Atlas Warehouse Lending Co. LP                                     | ATWALD 6 1/4 01/15/30 | CUSIP: 049463AE2<br>LEI: 25490068J12A1HV7YM70 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105441.13    | 0.12%             | 2030-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bonds                                       | T 4 3/4 02/15/45      | CUSIP: 912810UJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1100000 | PA      | $1117660.16   | 1.23%             | 2045-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD8515             | CUSIP: 3132DWN82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2786740 | PA      | $2824097.16   | 3.10%             | 2055-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD8340             | CUSIP: 3132DWHR7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    208626 | PA      | $204976.28    | 0.23%             | 2053-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BRSP 2021-FL1 LTD                                                  | BRSP 2021-FL1 D       | CUSIP: 05591XAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003606.00   | 1.10%             | 2038-08-19      | Floating      | 6.77%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs Inc                                               | CLF 7 5/8 01/15/34    | CUSIP: 18589GAA3<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103849.50    | 0.11%             | 2034-01-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| LOANCORE 2021-CRE5 ISSUER LTD                                      | LNCR 2021-CRE5 AS     | CUSIP: 53947XAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     18856 | PA      | $18924.03     | 0.02%             | 2036-07-15      | Floating      | 5.82%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD8361             | CUSIP: 3132DWJE4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    511674 | PA      | $512856.27    | 0.56%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD6706             | CUSIP: 3132DUNX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    155756 | PA      | $153031.13    | 0.17%             | 2054-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN MA5530             | CUSIP: 31418FEC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    670078 | PA      | $669633.92    | 0.74%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NRTH COMMERCIAL MORTGAGE TRUST 2025-PARK                           | NRTH 2025-PARK A      | CUSIP: 669985AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $200297.00    | 0.22%             | 2040-10-15      | Floating      | 5.35%                 | Yes           |                  2 | On Loan: No      |
| Bath & Body Works Inc                                              | BBWI 6 3/4 07/01/36   | CUSIP: 501797AM6<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    700000 | PA      | $693653.59    | 0.76%             | 2036-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Stonebriar ABF Issuer LLC                                          | STONEB 8 1/8 12/15/30 | CUSIP: 86177CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $254248.75    | 0.28%             | 2030-12-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| PFP 2024-11 LTD /LLC                                               | PFP 2024-11 A         | CUSIP: 69291WAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     79789 | PA      | $80249.41     | 0.09%             | 2039-09-17      | Floating      | 5.80%                 | Yes           |                  2 | On Loan: No      |
| WBI Operations LLC                                                 | WBI 6 1/2 10/15/33    | CUSIP: 92944BAB7<br>LEI: 254900A83461EGRMOV11 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250070.00    | 0.27%             | 2033-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Wayfair LLC                                                        | W 6 3/4 11/15/32      | CUSIP: 94419NAC1<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255713.25    | 0.28%             | 2032-11-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Newell Brands Inc.                                                 | NWL 6 5/8 05/15/32    | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47207.12     | 0.05%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FN MA5137             | CUSIP: 31418EV72<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1629720 | PA      | $1633066.29   | 1.79%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN MA5585             | CUSIP: 31418FF36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     98947 | PA      | $98838.97     | 0.11%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NMABS ISSUER I LLC/NMABS ISSUER II LLC/NMABS CANADIAN ISSUER I L.P | NMNL 2025-1A A        | CUSIP: 629174AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $751261.01    | 0.83%             | 2055-11-20      | Fixed         | 5.14%                 | Yes           |                  2 | On Loan: No      |
| TRTX 2022-FL5 ISSUER, LTD                                          | TRTX 2022-FL5 AS      | CUSIP: 87277JAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     50000 | PA      | $50143.65     | 0.06%             | 2039-02-15      | Floating      | 6.11%                 | Yes           |                  2 | On Loan: No      |
| Cogent Communications Group LLC                                    | CCOI 7 06/15/27       | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |    500000 | PA      | $495805.15    | 0.54%             | 2027-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD8244             | CUSIP: 3132DWER0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    176068 | PA      | $168521.42    | 0.19%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                                              | BBWI 7.6 07/15/37     | CUSIP: 532716AN7<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    614000 | PA      | $611768.48    | 0.67%             | 2037-07-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                       | T 4 3/8 05/15/40      | CUSIP: 912810QH4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16750000 | PA      | $16721865.19  | 18.37%            | 2040-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Starwood 2025-Sif6 LLC                                             | STWD 2025-SIF6A A1    | CUSIP: 85574AAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    200000 | PA      | $199980.80    | 0.22%             | 2037-10-17      | Floating      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                      | FUN 5 1/4 07/15/29    | CUSIP: 150190AE6<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1392454.95   | 1.53%             | 2029-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Highwoods Realty Limited Partnership                               | HIW 5.35 01/15/33     | CUSIP: 431282AV4<br>LEI: JUJNVZX73BIYHLR58F51 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200913.92    | 0.22%             | 2033-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                       | T 4 3/8 11/15/39      | CUSIP: 912810QD3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    800000 | PA      | $801718.75    | 0.88%             | 2039-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Cogent Communications Group LLC / Cogent Finance Inc.              | CCOI 6 1/2 07/01/32   | CUSIP: 19240WAB5<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |    350000 | PA      | $319404.89    | 0.35%             | 2032-07-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FN MA5352             | CUSIP: 31418E5N6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    101268 | PA      | $101211.97    | 0.11%             | 2054-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| A10 2025-FL6 ISSUER LLC                                            | A10 2025-FL6 A        | CUSIP: 00028AAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350000 | PA      | $349361.95    | 0.38%             | 2042-05-15      | Floating      | 5.51%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bonds                                       | T 4 5/8 02/15/40      | CUSIP: 912810QE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    400000 | PA      | $410710.94    | 0.45%             | 2040-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Hgi Cre Clo 2021-Fl2 Ltd / Llc                                     | HGI 2021-FL2 D        | CUSIP: 40390JAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    100000 | PA      | $100208.30    | 0.11%             | 2036-09-17      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD7379             | CUSIP: 3132DVFU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    226328 | PA      | $229361.73    | 0.25%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Midas Opco Holdings LLC                                            | STGW 5 5/8 08/15/29   | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $583554.06    | 0.64%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD8360             | CUSIP: 3132DWJD6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    176415 | PA      | $173110.12    | 0.19%             | 2053-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Hawaiian Electric Company, Inc.                                    | HE 6 10/01/33         | CUSIP: 419866AV0<br>LEI: 549300PQE8D806LWQV52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151974.15    | 0.17%             | 2033-10-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| LFS TopCo LLC                                                      | LENDMK 8 3/4 07/15/30 | CUSIP: 50203TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    900000 | PA      | $880769.25    | 0.97%             | 2030-07-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| JP MORGAN MORTGAGE TR 2024-5                                       | JPMMT 2024-5 A6       | CUSIP: 46658RAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    190978 | PA      | $191714.90    | 0.21%             | 2054-11-25      | Floating      | 6.00%                 | Yes           |                  2 | On Loan: No      |
| GPMT LTD                                                           | GPMT 2021-FL3 AS      | CUSIP: 36264BAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    305000 | PA      | $305605.12    | 0.34%             | 2035-07-16      | Floating      | 5.92%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bonds                                       | US TREASURY N/B       | CUSIP: 912810QL5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $490410.16    | 0.54%             | 2040-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ASP PIF CLO I LLC                                                  | ASP 2025-1A A1        | CUSIP: 044929AA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     50000 | PA      | $50000.00     | 0.05%             | 2038-01-15      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bonds                                       | T 4 3/4 11/15/43      | CUSIP: 912810TW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    100000 | PA      | $102091.80    | 0.11%             | 2043-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                       | US TREASURY BOND      | CUSIP: 912810QB7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200000 | PA      | $199054.69    | 0.22%             | 2039-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SunCoke Energy, Inc.                                               | SXC 4 7/8 06/30/29    | CUSIP: 86722AAD5<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91579.61     | 0.10%             | 2029-06-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FN MA5163             | CUSIP: 31418EWZ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1066134 | PA      | $1046161.57   | 1.15%             | 2053-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc.                                                 | NWL 6 3/8 05/15/30    | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    300000 | PA      | $289041.96    | 0.32%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FN MA5327             | CUSIP: 31418E4M9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1175836 | PA      | $1175795.41   | 1.29%             | 2054-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FN MA5552             | CUSIP: 31418FE29<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    197091 | PA      | $196955.34    | 0.22%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rithm Capital Corp.                                                | RITM 8 04/01/29       | CUSIP: 64828TAB8<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |    350000 | PA      | $358102.15    | 0.39%             | 2029-04-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FN MA5070             | CUSIP: 31418ET42<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    181407 | PA      | $178289.47    | 0.20%             | 2053-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                       | US TREASURY N/B       | CUSIP: 912810QQ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3500000 | PA      | $3469921.88   | 3.81%             | 2041-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NMABS ISSUER I LLC/NMABS ISSUER II LLC/NMABS CANADIAN ISSUER I L.P | NMNL 2025-1A B        | CUSIP: 629174AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $754940.25    | 0.83%             | 2055-11-20      | Fixed         | 5.33%                 | Yes           |                  2 | On Loan: No      |
| GPMT LTD 2021-FL4                                                  | GPMT 2021-FL4 A       | CUSIP: 36262TAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    215304 | PA      | $216018.47    | 0.24%             | 2036-12-15      | Floating      | 5.42%                 | Yes           |                  2 | On Loan: No      |
| Rithm Capital Corp.                                                | RITM 8 07/15/30       | CUSIP: 64828TAC6<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |    600000 | PA      | $612078.00    | 0.67%             | 2030-07-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| OWN EQUIPMENT FUND I LLC                                           | EQS 2024-2M A         | CUSIP: 69121NAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    187656 | PA      | $188529.73    | 0.21%             | 2032-12-20      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                              | FNR 2025-59 MA        | CUSIP: 3136BWN85<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    295327 | PA      | $295625.91    | 0.32%             | 2051-03-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lamar Media Corp.                                                  | LAMR 5 3/8 11/01/33   | CUSIP: 513075CA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $300701.93    | 0.33%             | 2033-11-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FR SD8371             | CUSIP: 3132DWJQ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5852857 | PA      | $5861855.22   | 6.44%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOANCORE 2021-CRE5 ISSUER LTD                                      | LNCR 2021-CRE5 D      | CUSIP: 53947XAL6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1505389.50   | 1.65%             | 2036-07-15      | Floating      | 7.07%                 | Yes           |                  2 | On Loan: No      |
| Global Partners LP / GLP Finance Corp.                             | GLP 7 1/8 07/01/33    | CUSIP: 37954FAL8<br>LEI: 549300PCHWTW9P4DU444 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76234.05     | 0.08%             | 2033-07-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| LOANCORE 2022-CRE7 ISSUER LTD                                      | LNCR 2022-CRE7 E      | CUSIP: 53946PAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501745.00    | 0.55%             | 2037-01-17      | Floating      | 7.89%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FN MA5271             | CUSIP: 31418E2D1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2884266 | PA      | $2927798.57   | 3.22%             | 2054-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BSPRT 2022-FL8 Issuer Ltd.                                         | BSPRT 2022-FL8 C      | CUSIP: 055983AG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     50000 | PA      | $50191.65     | 0.06%             | 2037-02-15      | Floating      | 6.44%                 | Yes           |                  2 | On Loan: No      |
| SKY1 TR 2025-LINE                                                  | SKY1 2025-LINE A      | CUSIP: 830941AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    987719 | PA      | $994465.42    | 1.09%             | 2042-04-15      | Floating      | 6.55%                 | Yes           |                  2 | On Loan: No      |
| Broadstone Net Lease LLC                                           | BNL 5 11/01/32        | CUSIP: 11134GAA8<br>LEI: 54930089IBT6J4WBTI50 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200863.81    | 0.22%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NGL Energy Operating LLC/ NGL Energy Finance Corp                  | NGL 8 3/8 02/15/32    | CUSIP: 62922LAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $311260.80    | 0.34%             | 2032-02-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| WULF Compute LLC                                                   | WULF 7 3/4 10/15/30   | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $258680.12    | 0.28%             | 2030-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Golar LNG Limited                                                  | GLNG 7 1/2 10/02/30   | CUSIP: 38046YAE1<br>LEI: 213800C2VSFZG3EZLO34 | Long             | DBT              | CORP              | BM        |    600000 | PA      | $582207.66    | 0.64%             | 2030-10-02      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Fortress Credit Investments IV LLC                                 | FCO 2017-9A BR        | CUSIP: 34961JBE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $299423.70    | 0.33%             | 2033-10-15      | Floating      | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FN MA5164             | CUSIP: 31418EW22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1056810 | PA      | $1058706.77   | 1.16%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRSP 2024-FL2 LTD                                                  | BRSP 2024-FL2 E       | CUSIP: 05613BAL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    200000 | PA      | $201236.90    | 0.22%             | 2037-08-19      | Floating      | 10.50%                | Yes           |                  2 | On Loan: No      |
| Equipmentshare Com Inc.                                            | EQMSRM 9 05/15/28     | CUSIP: 29450YAA7<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    360000 | PA      | $367886.16    | 0.40%             | 2028-05-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                   | FN MA5294             | CUSIP: 31418E3C2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    197956 | PA      | $198005.49    | 0.22%             | 2054-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| The Manitowoc Company, Inc.                                        | MTW 9 1/4 10/01/31    | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |     25000 | PA      | $26594.05     | 0.03%             | 2031-10-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| ACREC 2021-FL1                                                     | ACREC 2021-FL1 C      | CUSIP: 00500RAG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249974.08    | 0.27%             | 2036-10-16      | Floating      | 6.23%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bonds                                       | T 4 11/15/42          | CUSIP: 912810TM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $934921.88    | 1.03%             | 2042-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WBI Operations LLC                                                 | WBI 6 1/4 10/15/30    | CUSIP: 92944BAA9<br>LEI: 254900A83461EGRMOV11 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250292.51    | 0.27%             | 2030-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BBH SWEEP VEHICLE                                                  | BBH SWEEP VEHICLE     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |  21861095 | PA      | $21861095.00  | 24.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Barings BDC Inc.                                                   | BBDC 5.2 09/15/28     | CUSIP: 06759LAE3<br>LEI: 549300GSF4KFZP6ONG49 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249128.03    | 0.27%             | 2028-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-26

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

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer