# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0000910472-25-002524
**Filing Date:** 2025-10
**Character Count:** 39538
**Document Hash:** 1d16e3995a6e466aa08115a147c04413
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-002524.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0000910472-25-002524

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251029

**PERIOD START**: 20260531

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22549
- **FILM NUMBER:** 251427567

**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

### The Future Fund Long/Short ETF (Series ID: S000074927)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000233373 | The Future Fund Long/Short ETF |  |

## Nport-Ex

---

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

---

---

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

---

---

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

---

---

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

---

---

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

---

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

---

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

---

---

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

---

---

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

---

---

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

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

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

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

- **a. Name of Series:** The Future Fund Long/Short ETF

- **b. EDGAR series identifier (if any):** S000074927

- **c. LEI of Series:** 5493000GS7QCQZWUSJ25

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $62696710.17

**Total Liabilities:** $21295700.12

**Net Assets:** $41401010.05

**Cash Not Reported:** $28215614.64

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000233373 | 2.93%                | 1.27%                | -0.16%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $129932.30               | $1007093.19                                |
| Month 2  | $-499882.67              | $1008708.80                                |
| Month 3  | $600660.79               | $-654588.64                                |

**Designated Index Information**

- **Index Name:** S&P 500 (TR)

- **Index Identifier:** 500TR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| East West Bancorp Inc                         | EAST WEST BNCRP  | CUSIP: 27579R104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -8500 | NS      | $-893690.00   | -2.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                     | ADOBE INC        | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Short            | EC               | CORP              | US        |     -1700 | NS      | $-606390.00   | -1.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corporation                          | AMPHENOL CORP-A  | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Short            | EC               | CORP              | US        |    -10000 | NS      | $-1088600.00  | -2.63%            |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                                  | FASTENAL CO      | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Short            | EC               | CORP              | US        |    -22000 | NS      | $-1092520.00  | -2.64%            |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                                  | DOORDASH INC-A   | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      3785 | NS      | $928271.25    | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated             | MICROCHIP TECH   | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     12075 | NS      | $784875.00    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                                   | ROLLINS INC      | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Short            | EC               | CORP              | US        |    -12650 | NS      | $-715231.00   | -1.73%            |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                 | ALPHABET INC-A   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      5993 | NS      | $1275969.63   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc                      | CROWDSTRIKE HO-A | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Short            | EC               | CORP              | US        |     -1000 | NS      | $-423700.00   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                         | UBER TECHNOLOGIE | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     11192 | NS      | $1049250.00   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services, Inc.                         | QUANTA SERVICES  | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Short            | EC               | CORP              | US        |     -2500 | NS      | $-944900.00   | -2.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                     | SAFRAN SA-ADR    | CUSIP: 786584102<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     12000 | NS      | $993000.00    | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor And Decor Holding Inc.                  | FLOOR & DECOR-A  | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |     13000 | NS      | $1064960.00   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                               | SALESFORCE INC   | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      5115 | NS      | $1310718.75   | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp.                        | ON SEMICONDUCTOR | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     18125 | NS      | $898818.75    | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                                 | PINTEREST INC -A | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32275 | NS      | $1182233.25   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Duolingo Inc                                  | DUOLINGO         | CUSIP: 26603R106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3000 | NS      | $-893580.00   | -2.16%            |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc.                                   | RESMED INC       | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Short            | EC               | CORP              | US        |     -2100 | NS      | $-576471.00   | -1.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                                 | NETFLIX INC      | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       757 | NS      | $914645.25    | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc.                               | DRAFTKINGS INC   | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |     29126 | NS      | $1397465.48   | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Yeti Holdings Inc                             | YETI HOLDINGS IN | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |     38340 | NS      | $1348034.40   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                            | HCA HEALTHCARE I | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Short            | EC               | CORP              | US        |     -2000 | NS      | $-807920.00   | -1.95%            |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                                 | EQUINIX INC      | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1130 | NS      | $888394.70    | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Trimble Inc                                   | TRIMBLE INC      | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Short            | EC               | CORP              | US        |    -12000 | NS      | $-969840.00   | -2.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                                     | BLOCK INC        | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |     17955 | NS      | $1429936.20   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc                     | PALANTIR TECHN-A | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Short            | EC               | CORP              | US        |     -6000 | NS      | $-940260.00   | -2.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc                         | DELL TECHN-C     | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      7000 | NS      | $855050.00    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc.                   | ADV MICRO DEVICE | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Short            | EC               | CORP              | US        |     -9000 | NS      | $-1463670.00  | -3.54%            |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                              | AMAZON.COM INC   | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      7075 | NS      | $1620175.00   | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                  | NVIDIA CORP      | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     17961 | NS      | $3128446.98   | 7.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Capital Corp.                            | ARES CAPITAL COR | CUSIP: 04010L103<br>LEI: WEQ82666OJYSI5GUAB47 | Short            | EC               | RF                | US        |    -40000 | NS      | $-896000.00   | -2.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Baidu Inc.                                    | BAIDU INC-SP ADR | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |      9967 | NS      | $949855.10    | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                                 | ON HOLDING AG-A  | CUSIP: H5919C104<br>LEI: N/A                  | Short            | EC               | CORP              | CH        |    -13000 | NS      | $-586040.00   | -1.42%            |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co                            | VERTIV HOLDING-A | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Short            | EC               | CORP              | US        |     -7000 | NS      | $-892850.00   | -2.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Banco Latinoamericano De Comercio Exterior SA | BANCO LATINOAM-E | CUSIP: P16994132<br>LEI: 549300CN3134K4LC0651 | Short            | EC               | CORP              | PA        |    -12000 | NS      | $-553560.00   | -1.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                            | META PLATFORMS-A | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      2426 | NS      | $1792086.20   | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Incorporated           | VERTEX PHARM     | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      1544 | NS      | $603734.88    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic, Inc.                            | CIRRUS LOGIC INC | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |      8100 | NS      | $924939.00    | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                          | UNITED RENTALS   | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Short            | EC               | CORP              | US        |     -1000 | NS      | $-956340.00   | -2.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Sofi Technologies Inc                         | SOFI TECHNOLOGIE | CUSIP: 83406F102<br>LEI: 549300SW81JCMVZDDY09 | Short            | EC               | CORP              | US        |    -50000 | NS      | $-1277000.00  | -3.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc.                        | MICRON TECH      | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      4000 | NS      | $476040.00    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                        | PALO ALTO NETWOR | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      7254 | NS      | $1382032.08   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                          | BOOKING HOLDINGS | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Short            | EC               | CORP              | US        |      -150 | NS      | $-839857.50   | -2.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Comerica Incorporated                         | COMERICA INC     | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Short            | EC               | CORP              | US        |    -11000 | NS      | $-776380.00   | -1.88%            |  |  |  | No            |                  1 | On Loan: No      |
| The Cigna Group                               | THE CIGNA GROUP  | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Short            | EC               | CORP              | US        |     -3000 | NS      | $-902610.00   | -2.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc                     | HALOZYME THERAPE | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     21355 | NS      | $1562118.25   | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc.                   | LPL FINANCIAL HO | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      2658 | NS      | $968787.84    | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Roblox Corporation                            | ROBLOX CORP - A  | CUSIP: 771049103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -7000 | NS      | $-872130.00   | -2.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                                   | DATADOG INC-A    | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      4355 | NS      | $595241.40    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corporation              | EDWARDS LIFE     | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |     15147 | NS      | $1232056.98   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corporation                        | FAIR ISAAC CORP  | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Short            | EC               | CORP              | US        |      -400 | NS      | $-608656.00   | -1.47%            |  |  |  | No            |                  1 | On Loan: No      |
| Gitlab Inc                                    | GITLAB INC-CL A  | CUSIP: 37637K108<br>LEI: 9845004Y40FACG81ED49 | Long             | EC               | CORP              | US        |     16047 | NS      | $770576.94    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                        | CATHAY GENERAL B | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Short            | EC               | CORP              | US        |    -13000 | NS      | $-648830.00   | -1.57%            |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings PLC                      | ROLLS-ROYCE-ADR  | CUSIP: 775781206<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |     30000 | NS      | $433500.00    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthequity Inc                              | HEALTHEQUITY INC | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |      7594 | NS      | $678372.02    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer