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Form N-PX · fund registrantSEC filer no. 1518042

NORTHERN LIGHTS FUND TRUST II

fund voting report

Vote records reported
44,147year to 30 June 2026
Against management
12.1%5,063 of 41,908 marked votes
Say-on-pay support
96.9%for, of for + against + abstain
Shareholder-proposal support
33.7%for, of for + against + abstain
85.9% for7.0% against7.1% other12.1% against management45,458 votes

foragainstabstain, withhold or otheramber tick: the portion cast against management

NORTHERN LIGHTS FUND TRUST II reported 44,147 vote records for the year to 30 June 2026. It marked 12.1% of its votes as cast against management (5,063 of 41,908), 5.9 percentage points above the median fund registrant, which was 6.2%.

Weighted by the number of shares voted, the against-management share is 13.4%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.

On pay and on shareholder proposals: it voted for 96.9% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 33.7% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in DIVERSITY, EQUITY, AND INCLUSION (66.7% of 24), OTHER (51.8% of 342) and SHAREHOLDER RIGHTS AND DEFENSES (29.3% of 184).

It reported 9.2 million shares out on loan at record dates, 2.21% of the shares it held or had lent across the meetings it reported. Shares on loan are not voted.

Compared with other filers

Each rate is defined once, in the methodology. The median is taken over 1,241 fund registrants with at least 25 vote records in the season.

year to 30 June 2026This filerMedian fund registrantAll filers pooled
Against-management share12.1%6.2%10.6%
Say-on-pay support rate96.9%91.6%86.0%
Shareholder-proposal support rate33.7%27.5%33.9%
Shares on loan, share of shares held2.21%0.00%3.12%
Largest families, year to 30 June 2026Against managementSay-on-pay supportShareholder-proposal support
Vanguard20.1%94.1%42.0%
BlackRock and iShares7.5%88.3%11.9%
Fidelity6.0%94.7%27.6%
Dimensional16.4%78.9%57.4%
State Street and SPDR16.9%77.1%50.4%

Votes by category

Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.

Category (as the form names it)VotesForAgainstAgainst managementSplit
DIRECTOR ELECTIONS27,86625,31899112.0%
SECTION 14A SAY-ON-PAY VOTES1,7101,453443.6%
AUDIT-RELATED3,0682,74213511.8%
INVESTMENT COMPANY MATTERS115354.5%
SHAREHOLDER RIGHTS AND DEFENSES2141493329.3%
EXTRAORDINARY TRANSACTIONS192179623.9%
CAPITAL STRUCTURE2,8592,6181425.4%
COMPENSATION4,0283,36153319.1%
CORPORATE GOVERNANCE4,1032,7145506.7%
ENVIRONMENT OR CLIMATE2211018723.9%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE8245812.5%
DIVERSITY, EQUITY, AND INCLUSION3212366.7%
OTHER SOCIAL ISSUES2281148815.2%
OTHER90542938051.8%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202424,0411.8%99.4%18.7%
year to 30 June 202528,1339.8%96.8%19.4%
year to 30 June 202644,14712.1%96.9%33.7%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, NORTHERN LIGHTS FUND TRUST II voted against management on 28 of the 1,156 it marked either way (2.4%) in the year to 30 June 2026.

A further 38 say-on-pay items were reported without a management mark and are left out of both sides of that fraction.

Shareholder proposals it supported

Of 720 proposals from security holders that could be told apart in the filings and on which it cast a vote, NORTHERN LIGHTS FUND TRUST II voted for 238 (33.1%). The 40 at the companies with the most reporting filers are listed. Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
Amazon.com, Inc.20 May 2026Shareholder proposal requesting a mandatory independent board chair policy
NVIDIA Corporation24 Jun 2026Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting...
Alphabet Inc.5 Jun 2026Shareholder proposal regarding a report on AI data usage oversight
Alphabet Inc.5 Jun 2026Shareholder proposal regarding equal shareholder voting
Visa Inc.27 Jan 2026Shareholder proposal on shareholder right to act by written consent.
Visa Inc.27 Jan 2026Require Independent Board Chair
JPMorgan Chase & Co.19 May 2026Independent board chairman
Johnson & Johnson23 Apr 2026Independent Board Chair
Eli Lilly and Company4 May 2026Shareholder proposal to adopt a policy and amend the bylaws to require an independent board chair.
AbbVie Inc.8 May 2026Stockholder Proposal - to Adopt a Policy to Require an Independent Chair
Netflix, Inc.4 Jun 2026Stockholder proposal entitled, "Proposal 4 - Shareholder Right to Act by Written Consent,"
Netflix, Inc.4 Jun 2026Shareholder proposal: SHAREHOLDER RIGHTS AND DEFENSES
Netflix, Inc.4 Jun 2026Stockholder proposal entitled, "Report on Politicized Brand Misalignment,"
Netflix, Inc.4 Jun 2026Stockholder proposal entitled, "ESG ROI Report,"
The Home Depot, Inc.21 May 2026Shareholder Proposal Regarding Independent Board Chair
Merck & Co., Inc.26 May 2026Shareholder proposal regarding a report on political contributions.
Merck & Co., Inc.26 May 2026Shareholder proposal regarding a report on DEI risks in federal contracting.
Merck & Co., Inc.26 May 2026Shareholder proposal regarding a report on healthcare coverage gaps.
CHEVRON CORPORATION27 May 2026Report on Indigenous Peoples' Rights
Bank of America Corporation4 May 2026Shareholder proposal requesting independent board chair
UnitedHealth Group Incorporated1 Jun 2026If properly presented at the 2026 Annual Meeting of Shareholders, the shareholder proposal requesting the...
PEPSICO, INC.6 May 2026Shareholder Proposal - Independent Board Chair.
The Coca-Cola Company29 Apr 2026Vote on a shareowner proposal requesting a sustainability committee by-law amendment
The Coca-Cola Company29 Apr 2026Vote on a shareowner proposal requesting a report on risks related to ingredients
The Coca-Cola Company29 Apr 2026Vote on a shareowner proposal requesting a report on the extent of the Company's diversity, equity and...
The Coca-Cola Company29 Apr 2026Vote on a shareowner proposal requesting a report on the Company's plans to increase sustainability disclosure
The Coca-Cola Company29 Apr 2026Vote on a shareowner proposal requesting a report evaluating the Company's plastics packaging policies
Advanced Micro Devices, Inc.13 May 2026Stockholder proposal requesting changes to the stockholder right to call a special meeting.
GE Aerospace5 May 2026Shareholder Proposal Requesting Report on Defense-Related Products
Verizon Communications Inc.21 May 2026Independent board chair
QUALCOMM Incorporated17 Mar 2026Stockholder proposal entitled "Shareholder Ability to Call for a Special Meeting."
International Business Machines Corporation28 Apr 2026Stockholder Proposal Requesting a Right to Act by Written Consent
International Business Machines Corporation28 Apr 2026Amend Stock Ownership Guidelines for Outside Directors
Pfizer Inc.23 Apr 2026Adopt an Independent Chair Policy
AT&T INC.14 May 2026EEO-1 Report Disclosure Policy
Wells Fargo & Company28 Apr 2026Require Independent Board Chair
Wells Fargo & Company28 Apr 2026Shareholder Proposal - Govern by Majority Vote.
Amgen Inc.19 May 2026Stockholder proposal to require an independent board chairman.
American Express Company5 May 2026Shareholder Proposal Regarding Report on Healthcare Coverage Risks
ConocoPhillips12 May 2026Stockholder Proposal - Independent Board Chairman.

Shares on loan

NORTHERN LIGHTS FUND TRUST II reported 9.2 million shares on loan at record dates against 407.8 million shares voted: 2.21% of the two together. Median fund registrant: 0.00%. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.

Fund series in this filing

20 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.

SeriesVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
S00000615122,6107.2%94.7%25.7%
Longboard Fund9,3201.2%100.0%9.5%
M Large Cap Value Fund4,01068.9%94.4%48.8%
S0000061531,3157.1%90.6%90.0%
Acclivity Small Cap Value Fund1,2840.1%100.0%0.0%
Beacon Dynamic Allocation Fund915not reportednot reportednot reported
Essential 40 Stock ETF66329.6%95.3%37.8%
PeakShares RMR Prime Equity ETF65323.6%65.9%98.8%
PeakShares Sector Rotation ETF59524.0%73.7%93.9%
One Global ETF4892.6%not reported3.6%
Acclivity Mid Cap Multi-Style Fund4790.0%100.0%0.0%
The Future Fund Long/Short ETF1671.2%not reported1.8%
Hodges Small Cap Fund1482.0%90.9%not reported
Hodges Small Intrinsic Value Fund1480.0%100.0%not reported
North Star Small Cap Value Fund1410.0%100.0%not reported
North Star Dividend Fund1360.0%100.0%not reported
North Star Micro Cap Fund1350.0%100.0%not reported
Hodges Blue Chip Equity Income Fund1120.0%100.0%0.0%
Hodges Fund913.4%88.9%0.0%
North Star Opportunity Fund814.9%100.0%not reported

The filings

These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.

Questions

How did NORTHERN LIGHTS FUND TRUST II vote on executive pay?

In the year to 30 June 2026 NORTHERN LIGHTS FUND TRUST II reported 1,499 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 1,453 were for (96.9%), 44 against and 2 abstentions. Counting one item per company meeting, it voted against management on 28 of the 1,156 say-on-pay items it marked either way. A further 38 say-on-pay items were reported without a management mark and are not counted in that figure.

How often does NORTHERN LIGHTS FUND TRUST II vote against management?

12.1% of the time in the year to 30 June 2026: 5,063 of the 41,908 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.

Did NORTHERN LIGHTS FUND TRUST II support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 175 votes on proposals from security holders in the year to 30 June 2026 and voted for 9 of them (5.1%). Across every category it voted for 33.7% of security-holder proposals. Filers choose the category for each vote, so the same proposal can sit in different categories in different filings.

Is this the result of the meetings?

No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.

Where does the data come from?

From the Form N-PX filings of this filer on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.

Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by NORTHERN LIGHTS FUND TRUST II (filer no. 1518042), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.