# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0000910472-26-002812
**Filing Date:** 2026-2
**Character Count:** 22113
**Document Hash:** 0ff130ba0cab012d0b3563b46830a9d7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-002812.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000910472-26-002812

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260331

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22549
- **FILM NUMBER:** 26683571

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

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

## Series and Classes Contracts Data

### Hodges Fund (Series ID: S000081358)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000244083 | Retail Class |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **HODGES FUND** | **HODGES FUND** | **HODGES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 92.8%** |  |
|  | **APPAREL & TEXTILE PRODUCTS - 6.5%** |  |
| 100000 | Gildan Activewear, Inc. | &nbsp;&nbsp;&nbsp; $6246000 |
| 175000 | On Holding A.G.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 8134000 |
|  |  | &nbsp;&nbsp; 14380000 |
|  | **AUTOMOTIVE - 3.0%** |  |
| 15000 | Tesla, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 6745800 |
|  | **BANKING - 4.2%** |  |
| 325000 | Banc of California, Inc. | &nbsp;&nbsp;&nbsp; 6269250 |
| 65000 | Bank OZK | &nbsp;&nbsp;&nbsp; 2991300 |
|  |  | &nbsp;&nbsp; 9260550 |
|  | **COMMERCIAL SUPPORT SERVICES - 2.7%** |  |
| 200000 | CoreCivic, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3822000 |
| 130000 | GEO Group, Inc. (The)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2095600 |
|  |  | &nbsp;&nbsp; 5917600 |
|  | **CONSTRUCTION MATERIALS - 2.8%** |  |
| 30000 | Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp; 6200400 |
|  | **E-COMMERCE DISCRETIONARY - 2.9%** |  |
| 1250000 | Stitch Fix, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 6562500 |
|  | **ELECTRICAL EQUIPMENT - 2.9%** |  |
| 20000 | Powell Industries, Inc. | &nbsp;&nbsp;&nbsp; 6375600 |
|  | **HOME & OFFICE PRODUCTS - 5.0%** |  |
| 100000 | SharkNinja, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 11190000 |
|  | **INTERNET MEDIA & SERVICES - 5.5%** |  |
| 150000 | Uber Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 12256500 |
|  | **LEISURE FACILITIES & SERVICES – 7.2%** |  |
| 325000 | DraftKings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 11199500 |
| 325000 | First Watch Restaurant Group, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4901000 |
|  |  | &nbsp;&nbsp; 16100500 |

---

---

| | | |
|:---|:---|:---|
| **HODGES FUND** | **HODGES FUND** | **HODGES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 92.8% (Continued)** |  |
|  | **MEDICAL EQUIPMENT & DEVICES - 0.9%** |  |
| 20000 | Medtronic PLC | &nbsp;&nbsp;&nbsp; $1921200 |
|  | **METALS & MINING – 4.0%** |  |
| 175000 | Freeport-McMoRan, Inc. | &nbsp;&nbsp;&nbsp; 8888250 |
|  | **OIL & GAS PRODUCERS – 10.3%** |  |
| 125000 | Comstock Resources, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2897500 |
| 50000 | Expand Energy Corporation | &nbsp;&nbsp;&nbsp; 5518000 |
| 175000 | Matador Resources Company | &nbsp;&nbsp;&nbsp; 7427000 |
| 25000 | Texas Pacific Land Corporation | &nbsp;&nbsp;&nbsp; 7180500 |
|  |  | &nbsp;&nbsp; 23023000 |
|  | **RETAIL - DISCRETIONARY - 1.2%** |  |
| 15000 | RH<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2687250 |
|  | **SEMICONDUCTORS - 9.5%** |  |
| 30000 | Micron Technology, Inc. | &nbsp;&nbsp;&nbsp; 8562300 |
| 35000 | NVIDIA Corporation | &nbsp;&nbsp;&nbsp; 6527500 |
| 20000 | Taiwan Semiconductor Manufacturing Company Ltd. - ADR | &nbsp;&nbsp;&nbsp; 6077800 |
|  |  | &nbsp;&nbsp; 21167600 |
|  | **SOFTWARE – 13.9%** |  |
| 185000 | Clear Secure, Inc., Class A | &nbsp;&nbsp;&nbsp; 6489800 |
| 7500 | CyberArk Software Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3345450 |
| 700000 | Genius Sports Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 7714000 |
| 50000 | Palantir Technologies, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 8887500 |
| 225000 | SailPoint, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4551750 |
|  |  | &nbsp;&nbsp; 30988500 |
|  | **STEEL – 5.1%** |  |
| 14000 | Carpenter Technology Corporation | &nbsp;&nbsp;&nbsp; 4407760 |
| 525000 | Cleveland-Cliffs, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 6972000 |
|  |  | &nbsp;&nbsp; 11379760 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **HODGES FUND** | **HODGES FUND** | **HODGES FUND** | **HODGES FUND** | **HODGES FUND** | **HODGES FUND** | **HODGES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Shares** |  |  |  |  |  | **Fair Value** |
|  | **COMMON STOCKS — 92.8% (Continued)** | **COMMON STOCKS — 92.8% (Continued)** | **COMMON STOCKS — 92.8% (Continued)** |  |  |  |
|  | **TECHNOLOGY SERVICES – 5.2%** | **TECHNOLOGY SERVICES – 5.2%** | **TECHNOLOGY SERVICES – 5.2%** |  |  |  |
| 1000000 | Terawulf, Inc.<sup>(a)</sup> | Terawulf, Inc.<sup>(a)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; $11490000 |
|  | **TOTAL COMMON STOCKS (Cost $121,774,810)** | **TOTAL COMMON STOCKS (Cost $121,774,810)** | **TOTAL COMMON STOCKS (Cost $121,774,810)** |  |  | &nbsp;&nbsp; 206535010 |
| **Contracts<sup>(b)</sup>** |  |  |  |  |  |  |
|  | **EQUITY OPTIONS PURCHASED - 7.1%** | **Broker/Counterparty** | **Expiration Date** | **Exercise Price** | **Notional Value** |  |
|  | **CALL OPTIONS PURCHASED - 7.1%** | **CALL OPTIONS PURCHASED - 7.1%** | **CALL OPTIONS PURCHASED - 7.1%** |  |  |  |
| 475 | Alphabet, Inc. | WFC | 03/20/2026 | $200 | &nbsp;&nbsp;&nbsp; $14905500 | &nbsp;&nbsp;&nbsp; 5537550 |
| 450 | FedEx Corporation | WFC | 03/20/2026 | 220 | &nbsp;&nbsp;&nbsp; 12998700 | &nbsp;&nbsp;&nbsp; 3214125 |
| 650 | Take-Two Interactive Software, Inc. | WFC | 01/16/2026 | 200 | &nbsp;&nbsp;&nbsp; 16641950 | &nbsp;&nbsp;&nbsp; 3695250 |
| 400 | UnitedHealth Group, Inc. | WFC | 01/16/2026 | 250 | &nbsp;&nbsp;&nbsp; 13204400 | &nbsp;&nbsp;&nbsp; 3282000 |
|  | **TOTAL CALL OPTIONS PURCHASED** (Cost - $12,027,159) | **TOTAL CALL OPTIONS PURCHASED** (Cost - $12,027,159) | **TOTAL CALL OPTIONS PURCHASED** (Cost - $12,027,159) | **TOTAL CALL OPTIONS PURCHASED** (Cost - $12,027,159) |  | &nbsp;&nbsp; 15728925 |
|  | **TOTAL INVESTMENTS – 99.9% (Cost $133,801,969)** | **TOTAL INVESTMENTS – 99.9% (Cost $133,801,969)** | **TOTAL INVESTMENTS – 99.9% (Cost $133,801,969)** |  |  | &nbsp;&nbsp;&nbsp; $222263935 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1%** |  |  | &nbsp;&nbsp; 277704 |
|  | **NET ASSETS - 100.0%** |  |  |  |  | &nbsp;&nbsp; $222541639 |

---

---

| | |
|:---|:---|
| ADR | - American Depositary Receipt |
| Ltd. | - Limited Company |
| PLC | - Public Limited Company |
| REIT | - Real Estate Investment Trust |
| WFC | &nbsp;&nbsp;&nbsp;&nbsp;-Wells Fargo |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

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

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

- **a. Name of Series:** Hodges Fund

- **b. EDGAR series identifier (if any):** S000081358

- **c. LEI of Series:** 529900X2HQNDIZRTJZ60

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $224115011.49

**Total Liabilities:** $1573372.73

**Net Assets:** $222541638.76

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000244083 | 0.68%                | -0.65%               | 1.66%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3619598.21             | $5557639.96                                |
| Month 2  | $4769603.39              | $-6199637.86                               |
| Month 3  | $2623009.14              | $-55947.70                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Banc Of California Inc.                      | BANC OF CALIFORN      | CUSIP: 05990K106<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EC               | CORP              | US        |    325000 | NS      | $6269250.00   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                                     | BANK OZK              | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |     65000 | NS      | $2991300.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corporation             | CARPENTER TECH        | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     14000 | NS      | $4407760.00   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp.                          | EXPAND ENERGY CO      | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     50000 | NS      | $5518000.00   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc                             | CLEAR SECURE I-A      | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    185000 | NS      | $6489800.00   | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleveland-Cliffs Inc                         | CLEVELAND-CLIFFS      | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |    525000 | NS      | $6972000.00   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Comstock Resources, Inc.                     | COMSTOCK RES INC      | CUSIP: 205768302<br>LEI: I03QQGEA4SS774AURI46 | Long             | EC               | CORP              | US        |    125000 | NS      | $2897500.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Corecivic Inc                                | CORECIVIC INC         | CUSIP: 21871N101<br>LEI: 529900JFA3K6PTLT8B15 | Long             | EC               | CORP              | US        |    200000 | NS      | $3822000.00   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc.                              | DRAFTKINGS INC        | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |    325000 | NS      | $11199500.00  | 5.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                         | EAGLE MATERIALS       | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     30000 | NS      | $6200400.00   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| First Watch Restaurant Group Inc             | FIRST WATCH REST      | CUSIP: 33748L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    325000 | NS      | $4901000.00   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc.                        | FREEPORT-MCMORAN      | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    175000 | NS      | $8888250.00   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| GEO Group Inc                                | GEO GROUP INC/TH      | CUSIP: 36162J106<br>LEI: 54930024XOXET7NQVZ63 | Long             | EC               | CORP              | US        |    130000 | NS      | $2095600.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Gildan Activewear Inc.                       | GILDAN ACTIVEWEA      | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |    100000 | NS      | $6246000.00   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Company                    | MATADOR RESOURCE      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |    175000 | NS      | $7427000.00   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc.                       | MICRON TECH           | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     30000 | NS      | $8562300.00   | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                 | NVIDIA CORP           | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     35000 | NS      | $6527500.00   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc                    | PALANTIR TECHN-A      | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     50000 | NS      | $8887500.00   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Powell Industries Inc.                       | POWELL INDS INC       | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Long             | EC               | CORP              | US        |     20000 | NS      | $6375600.00   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| RH                                           | RH                    | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |     15000 | NS      | $2687250.00   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SailPoint Inc.                               | SAILPOINT INC         | CUSIP: 78781J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    225000 | NS      | $4551750.00   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Stitch Fix Inc                               | STITCH FIX INC-A      | CUSIP: 860897107<br>LEI: 549300TNHOVBOJZIYE72 | Long             | EC               | CORP              | US        |   1250000 | NS      | $6562500.00   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd. | TAIWAN SEMIC-ADR      | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     20000 | NS      | $6077800.00   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Terawulf Inc                                 | TERAWULF INC          | CUSIP: 88080T104<br>LEI: 254900CVMW1SX2T78A64 | Long             | EC               | CORP              | US        |   1000000 | NS      | $11490000.00  | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                    | TESLA INC             | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     15000 | NS      | $6745800.00   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Pacific Land Corporation               | TEXAS PACIFIC LA      | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25000 | NS      | $7180500.00   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                        | UBER TECHNOLOGIE      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    150000 | NS      | $12256500.00  | 5.51%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | FDX US 03/20/26 C220  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       450 | NC      | $3214125.00   | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Genius Sports Ltd.                           | GENIUS SPORTS LT      | CUSIP: G3934V109<br>LEI: N/A                  | Long             | EC               | CORP              | GG        |    700000 | NS      | $7714000.00   | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                | MEDTRONIC PLC         | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     20000 | NS      | $1921200.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Sharkninja Inc.                              | SHARKNINJA INC        | CUSIP: G8068L108<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    100000 | NS      | $11190000.00  | 5.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | GOOG US 03/20/26 C200 | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       475 | NC      | $5537550.00   | 2.49%             |  |  |  | No            |                  2 | On Loan: No      |
| On Holding AG                                | ON HOLDING AG-A       | CUSIP: H5919C104<br>LEI: 506700FB3467B9W95526 | Long             | EC               | CORP              | CH        |    175000 | NS      | $8134000.00   | 3.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Cyberark Software Ltd.                       | CYBERARK SOFTWAR      | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      7500 | NS      | $3345450.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | TTWO US 01/16/26 C200 | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       650 | NC      | $3695250.00   | 1.66%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                          | UNH US 01/16/26 C250  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | N/A       |       400 | NC      | $3282000.00   | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

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

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer