# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0000910472-26-005722
**Filing Date:** 2026-4
**Character Count:** 23594
**Document Hash:** 12526b43289c1dbc9e9faa5ed2191223
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-005722.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0000910472-26-005722

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**PERIOD START**: 20261130

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22549
- **FILM NUMBER:** 26897049

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 631-470-2600

**MAIL ADDRESS:**
- **STREET 1:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022

## Series and Classes Contracts Data

### North Star Small Cap Value Fund (Series ID: S000079928)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000241410 | North Star Small Cap Value Fund Investor Class      | WSCVX           |
| C000241411 | North Star Small Cap Value Fund Institutional Class | WFICX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **NORTH STAR SMALL CAP VALUE FUND** | **NORTH STAR SMALL CAP VALUE FUND** | **NORTH STAR SMALL CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **February 28, 2026** | **February 28, 2026** | **February 28, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 88.4%** |  |
|  | **ASSET MANAGEMENT - 8.6%** |  |
| 24400 | GCM Grosvenor, Inc., Class A | $282552 |
| 8500 | Sprott, Inc. | 1377765 |
| 69000 | WisdomTree, Inc. | 1180590 |
|  |  | 2840907 |
|  | **BANKING - 7.2%** |  |
| 15500 | Bar Harbor Bankshares | 500030 |
| 3710 | City Holding Company | 445089 |
| 12000 | NBT Bancorp, Inc. | 512640 |
| 10700 | QCR Holdings, Inc. | 925550 |
|  |  | 2383309 |
|  | **BEVERAGES - 0.9%** |  |
| 197000 | Farmer Bros Company<sup>(a)</sup> | 295500 |
|  | **COMMERCIAL SUPPORT SERVICES - 4.1%** |  |
| 16000 | Hackett Group, Inc. (The) | 218560 |
| 35000 | Legalzoom.com, Inc.<sup>(a)</sup> | 246050 |
| 13000 | V2X, Inc.<sup>(a)</sup> | 906750 |
|  |  | 1371360 |
|  | **CONSUMER SERVICES - 2.1%** |  |
| 19000 | Lincoln Educational Services Corporation<sup>(a)</sup> | 688560 |
|  | **E-COMMERCE DISCRETIONARY - 2.8%** |  |
| 29000 | Liquidity Services, Inc.<sup>(a)</sup> | 916690 |
|  | **ELECTRICAL EQUIPMENT - 8.8%** |  |
| 15700 | Allient, Inc. | 1033688 |
| 44000 | LSI Industries, Inc. | 951280 |
| 3100 | OSI Systems, Inc.<sup>(a)</sup> | 884120 |
|  |  | 2869088 |
|  | **ENGINEERING & CONSTRUCTION - 4.1%** |  |
| 950 | Comfort Systems USA, Inc. | 1357902 |
|  | **ENTERTAINMENT CONTENT - 5.1%** |  |
| 39000 | Reservoir Media, Inc.<sup>(a)</sup> | 349830 |

---

---

| | | |
|:---|:---|:---|
| **NORTH STAR SMALL CAP VALUE FUND** | **NORTH STAR SMALL CAP VALUE FUND** | **NORTH STAR SMALL CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **February 28, 2026** | **February 28, 2026** | **February 28, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 88.4% (Continued)** |  |
|  | **ENTERTAINMENT CONTENT - 5.1% (Continued)** |  |
| 11000 | Sphere Entertainment Company<sup>(a)</sup> | $1309110 |
|  |  | 1658940 |
|  | **GAS & WATER UTILITIES - 0.9%** |  |
| 5800 | H2O America | 311982 |
|  | **HOME CONSTRUCTION - 4.0%** |  |
| 9500 | Champion Homes, Inc.<sup>(a)</sup> | 888060 |
| 15000 | Interface, Inc. | 472350 |
|  |  | 1360410 |
|  | **HOUSEHOLD PRODUCTS - 3.2%** |  |
| 11000 | Central Garden & Pet Company<sup>(a)</sup> | 431090 |
| 30000 | Energizer Holdings, Inc. | 647700 |
|  |  | 1078790 |
|  | **INDUSTRIAL INTERMEDIATE PROD - 3.7%** |  |
| 9000 | AZZ, Inc. | 1223820 |
|  | **INDUSTRIAL SUPPORT SERVICES - 3.0%** |  |
| 16000 | EVI Industries, Inc. | 310880 |
| 3000 | VSE Corporation | 681210 |
|  |  | 992090 |
|  | **INTERNET MEDIA & SERVICES - 0.7%** |  |
| 11000 | Yelp, Inc.<sup>(a)</sup> | 245190 |
|  | **LEISURE FACILITIES & SERVICES - 2.6%** |  |
| 60000 | Lucky Strike Entertainment Corporation | 502200 |
| 17000 | OneSpaWorld Holdings Ltd. | 366010 |
|  |  | 868210 |
|  | **OIL & GAS PRODUCERS - 2.8%** |  |
| 4400 | Gulfport Energy Corporation<sup>(a)</sup> | 918104 |
|  | **REAL ESTATE OWNERS & DEVELOPERS - 0.6%** |  |
| 68000 | Mobile Infrastructure Corporation<sup>(a)</sup> | 206720 |

---

---

| | | |
|:---|:---|:---|
| **NORTH STAR SMALL CAP VALUE FUND** | **NORTH STAR SMALL CAP VALUE FUND** | **NORTH STAR SMALL CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **February 28, 2026** | **February 28, 2026** | **February 28, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 88.4% (Continued)** |  |
|  | **RESIDENTIAL REIT - 1.8%** |  |
| 40000 | UMH Properties, Inc. | $603200 |
|  | **RETAIL - DISCRETIONARY - 3.5%** |  |
| 3800 | Boot Barn Holdings, Inc.<sup>(a)</sup> | 719036 |
| 21817 | Shoe Carnival, Inc. | 440485 |
|  |  | 1159521 |
|  | **SEMICONDUCTORS - 3.9%** |  |
| 7392 | Axcelis Technologies, Inc.<sup>(a)</sup> | 610653 |
| 5400 | Silicon Motion Technology Corporation - ADR | 697842 |
|  |  | 1308495 |
|  | **SOFTWARE - 1.1%** |  |
| 31000 | Simulations Plus, Inc.<sup>(a)</sup> | 379130 |
|  | **SPECIALTY REIT - 3.5%** |  |
| 55500 | Postal Realty Trust, Inc., Class A | 1150515 |
|  | **STEEL - 1.7%** |  |
| 7800 | Commercial Metals Company | 571740 |
|  | **TECHNOLOGY HARDWARE - 3.4%** |  |
| 11000 | IMAX Corporation<sup>(a)</sup> | 471130 |
| 51000 | Turtle Beach Corporation<sup>(a)</sup> | 639540 |
|  |  | 1110670 |
|  | **TRANSPORTATION & LOGISTICS - 1.1%** |  |
| 12500 | Covenant Logistics Group, Inc. | 368000 |
|  | **TRANSPORTATION EQUIPMENT - 3.2%** |  |
| 18000 | Blue Bird Corporation<sup>(a)</sup> | 1048860 |
|  | **TOTAL COMMON STOCKS (Cost $15,343,820)** | 29287703 |

---

---

| | | |
|:---|:---|:---|
| **NORTH STAR SMALL CAP VALUE FUND** | **NORTH STAR SMALL CAP VALUE FUND** | **NORTH STAR SMALL CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **February 28, 2026** | **February 28, 2026** | **February 28, 2026** |
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENT — 11.5%** |  |
|  | **MONEY MARKET FUND - 11.5%** |  |
| 3808636 | First American Treasury Obligations Fund, Class X, 3.60%<sup>(b)</sup><br> (Cost $3,808,636) | $3808636 |
|  | **TOTAL INVESTMENTS - 99.9% (Cost $19,152,456)** | $33096339 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%** | 24772 |
|  | **NET ASSETS - 100.0%** | $33121111 |

---

---

| | |
|:---|:---|
| ADR | - American Depositary Receipt |
| Ltd. | - Limited Company |
| REIT | - Real Estate Investment Trust |
| (a) Non-income producing security. | (a) Non-income producing security. |
| (b) Rate disclosed is the seven day effective yield as of February 28, 2026. | (b) Rate disclosed is the seven day effective yield as of February 28, 2026. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

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

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

- **a. Name of Series:** North Star Small Cap Value Fund

- **b. EDGAR series identifier (if any):** S000079928

- **c. LEI of Series:** 54930009WLEFYJHJZT92

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $33616142.14

**Total Liabilities:** $495031.35

**Net Assets:** $33121110.79

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241411 | 1.18%                | 8.36%                | 6.18%                |
| Class ID C000241410 | 1.18%                | 8.35%                | 6.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1411576.13              | $-1018594.50                               |
| Month 2  | $1051557.71              | $1327545.06                                |
| Month 3  | $1509384.79              | $379311.96                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Central Garden & Pet Company       | CENTRAL GARDEN   | CUSIP: 153527106<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |     11000 | NS      | $431090.00    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Motion Technology Corp.    | SILICON MOTI-ADR | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             | EC               | CORP              | KY        |      5400 | NS      | $697842.00    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface, Inc.                    | INTERFACE INC    | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     15000 | NS      | $472350.00    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Energizer Holdings Inc             | ENERGIZER HOLDIN | CUSIP: 29272W109<br>LEI: 5493000D6NN0V57UME20 | Long             | EC               | CORP              | US        |     30000 | NS      | $647700.00    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| NBT Bancorp Inc                    | NBT BANCORP INC  | CUSIP: 628778102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12000 | NS      | $512640.00    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| H2O America                        | H2O AMERICA      | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5800 | NS      | $311982.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Lucky Strike Entertainment Corp.   | LUCKY STRIKE ENT | CUSIP: 10258P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60000 | NS      | $502200.00    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree, Inc.                   | WISDOMTREE INC   | CUSIP: 97717P104<br>LEI: 549300WIU8IS7UFO7871 | Long             | EC               | CORP              | US        |     69000 | NS      | $1180590.00   | 3.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Yelp Inc                           | YELP INC         | CUSIP: 985817105<br>LEI: 5299007OU2DOSXPQBO35 | Long             | EC               | CORP              | US        |     11000 | NS      | $245190.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Operating Corp.    | GULFPORT ENERGY  | CUSIP: 402635502<br>LEI: 549300FJX18IDUFPHD40 | Long             | EC               | CORP              | US        |      4400 | NS      | $918104.00    | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp.                    | BLUE BIRD CORP   | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |     18000 | NS      | $1048860.00   | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| V2X Inc                            | V2X INC          | CUSIP: 92242T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13000 | NS      | $906750.00    | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Covenant Logistics Group Inc.      | COVENANT LOGISTI | CUSIP: 22284P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12500 | NS      | $368000.00    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| IMAX Corporation                   | IMAX CORP        | CUSIP: 45245E109<br>LEI: 894500GS1ESLAPZCEI74 | Long             | EC               | CORP              | CA        |     11000 | NS      | $471130.00    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| LSI Industries Inc.                | LSI INDUSTRIES   | CUSIP: 50216C108<br>LEI: 529900HY42OANH6BVT33 | Long             | EC               | CORP              | US        |     44000 | NS      | $951280.00    | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc.                | CHAMPION HOMES I | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9500 | NS      | $888060.00    | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Turtle Beach Corp.                 | TURTLE BEACH COR | CUSIP: 900450206<br>LEI: 549300SZRV8U8PXSYI20 | Long             | EC               | CORP              | US        |     51000 | NS      | $639540.00    | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc             | BOOT BARN HOLDIN | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |      3800 | NS      | $719036.00    | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| OSI System Inc.                    | OSI SYSTEMS INC  | CUSIP: 671044105<br>LEI: DDX3MPX1Y8YD30050X33 | Long             | EC               | CORP              | US        |      3100 | NS      | $884120.00    | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| QCR Holdings Inc.                  | QCR HOLDINGS INC | CUSIP: 74727A104<br>LEI: 549300MWKWM7KWJVQO33 | Long             | EC               | CORP              | US        |     10700 | NS      | $925550.00    | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.          | FIRST AM-TR OB-X | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   3808636 | PA      | $3808636.42   | 11.50%            |  |  |  | No            |                  1 | On Loan: No      |
| Allient Inc                        | ALLIENT INC      | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |     15700 | NS      | $1033688.00   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LIncoln Educational Services Corp. | LINCOLN EDUCATIO | CUSIP: 533535100<br>LEI: 549300BJ55KUY6RG7L98 | Long             | EC               | CORP              | US        |     19000 | NS      | $688560.00    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Mobile Infrastructure Corp.        | MOBILE INFRASTRU | CUSIP: 60739N101<br>LEI: 254900BL5PV89M4T7T50 | Long             | EC               | CORP              | US        |     68000 | NS      | $206720.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Hackett Group Inc.                 | HACKETT GROUP    | CUSIP: 404609109<br>LEI: 5K016KLIRB6156644289 | Long             | EC               | CORP              | US        |     16000 | NS      | $218560.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Inc                         | SPROTT INC       | CUSIP: 852066208<br>LEI: 254900QHJAD5TP2JNM15 | Long             | EC               | CORP              | CA        |      8500 | NS      | $1377765.00   | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp.                          | VSE CORP         | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |      3000 | NS      | $681210.00    | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Reservoir Media Inc.               | RESERVOIR MEDIA  | CUSIP: 76119X105<br>LEI: 549300PHPDQ9M9QSNU18 | Long             | EC               | CORP              | US        |     39000 | NS      | $349830.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust Inc            | POSTAL REALTY-A  | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               | CORP              | US        |     55500 | NS      | $1150515.00   | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Simulations Plus Inc.              | SIMULATIONS PLUS | CUSIP: 829214105<br>LEI: 529900KYRDJAQ8TJCG93 | Long             | EC               | CORP              | US        |     31000 | NS      | $379130.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BAR Harbour Banksh                 | BAR HARBOR BNKSH | CUSIP: 066849100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15500 | NS      | $500030.00    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc.           | COMFORT SYSTEMS  | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |       950 | NS      | $1357901.50   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| EVI Industries Inc.                | EVI INDUSTRIES I | CUSIP: 26929N102<br>LEI: 549300RU296J63VW0297 | Long             | EC               | CORP              | US        |     16000 | NS      | $310880.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| City Holding Co                    | CITY HOLDING CO  | CUSIP: 177835105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3710 | NS      | $445088.70    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival Inc                  | SHOE CARNIVAL    | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21817 | NS      | $440485.23    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Sphere Entertainment Co.           | SPHERE ENTERTAIN | CUSIP: 55826T102<br>LEI: 254900ZW4JWKYRZZ9A91 | Long             | EC               | CORP              | US        |     11000 | NS      | $1309110.00   | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| OneSpaWorld Holdings Ltd.          | ONESPAWORLD HOLD | CUSIP: P73684113<br>LEI: 5493007W8PZ8W6UC2X76 | Long             | EC               | CORP              | BS        |     17000 | NS      | $366010.00    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies Inc.          | AXCELIS TECH INC | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |      7392 | NS      | $610653.12    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| LegalZoom.Com Inc.                 | LEGALZOOMCOM INC | CUSIP: 52466B103<br>LEI: 5493000L8EBF74Y9JZ48 | Long             | EC               | CORP              | US        |     35000 | NS      | $246050.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties Inc                 | UMH PROPERTIES I | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |     40000 | NS      | $603200.00    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Farmer Bros Co                     | FARMER BROS CO   | CUSIP: 307675108<br>LEI: 5493006PMLETBTVJ3262 | Long             | EC               | CORP              | US        |    197000 | NS      | $295500.00    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidity Services Inc.            | LIQUIDITY SERVIC | CUSIP: 53635B107<br>LEI: 5299002AZ4ULSAXN0G81 | Long             | EC               | CORP              | US        |     29000 | NS      | $916690.00    | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Company          | COMMERCIAL METAL | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |      7800 | NS      | $571740.00    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                            | AZZ INC          | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |      9000 | NS      | $1223820.00   | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| GCM Grosvenor Inc                  | GCM GROSVENOR-A  | CUSIP: 36831E108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24400 | NS      | $282552.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer