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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Certeza Fund Advisors LLC</investmentAdviserName>
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            <investmentAdviserLei>549300AV2XMORRILHZ91</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-UT" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Ultimus Fund Solutions, LLC</transferAgentName>
            <transferAgentFileNo>84-1964</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-OH" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Fifth Third Bank, National Association</custodianName>
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            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Ultimus Fund Solutions, LLC</shareholderServiceAgentName>
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            <shareholderServiceIdNumberDesc>Filing Number</shareholderServiceIdNumberDesc>
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            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Ultimus Fund Solutions, LLC</adminName>
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          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>Interactive Brokers</brokerName>
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            <brokerStateCountry brokerState="US-CT" brokerCountry="US"/>
            <grossCommission>7004.00000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>7004.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Interactive Brokers</principalName>
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            <principalCrdNo>000036418</principalCrdNo>
            <principalLei>50OBSE5T5521O6SMZR28</principalLei>
            <principalStateCountry principalState="US-CT" principalCountry="US"/>
            <principalTotalPurchaseSale>95219.00000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>95219.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>2945333.00000000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0</dailyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
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        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>North Star Micro Cap Fund</mgmtInvFundName>
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        <mgmtInvLei>549300FYO7U97U8RHB49</mgmtInvLei>
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        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="North Star Micro Cap Fund Class I Shares" sharesOutstandingClassId="C000125617" sharesOutstandingTickerSymbol="NSMVX"/>
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        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>North Star Investment Management Corp.</investmentAdviserName>
            <investmentAdviserFileNo>801-62013</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000117681</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-IL" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Ultimus Fund Solutions, LLC</transferAgentName>
            <transferAgentFileNo>84-05829</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NE" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-WI" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>MUFG Union Bank, N.A.</custodianName>
            <custodianLei>OX3PU53ZLPQKJ4700D47</custodianLei>
            <custodianStateCountry custodianState="US-CA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>Y</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Ultimus Fund Solutions, LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>84-05829</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>filing number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NE" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Ultimus Fund Solutions, LLC</adminName>
            <adminLei>84-05829</adminLei>
            <idNumberDesc>filing number</idNumberDesc>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>ROBERT W. BAIRD &amp; CO.</brokerName>
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            <brokerCrdNo>000008158</brokerCrdNo>
            <brokerLei>549300772UJAHRD6LO53</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>834.00000000</grossCommission>
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          <broker>
            <brokerName>ROTH CAPITAL PARTNERS</brokerName>
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            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>698.04000000</grossCommission>
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          <broker>
            <brokerName>NEUBERGER BERMAN</brokerName>
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            <brokerCrdNo>000002908</brokerCrdNo>
            <brokerLei>549300GUNP7BBJ217E93</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>10801.04000000</grossCommission>
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          <broker>
            <brokerName>CRAIG-HALLUM CAPITAL GROUP</brokerName>
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            <brokerStateCountry brokerState="US-IL" brokerCountry="US"/>
            <grossCommission>4060.00000000</grossCommission>
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          <broker>
            <brokerName>MIRAE ASSET</brokerName>
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            <brokerCrdNo>000030679</brokerCrdNo>
            <brokerLei>25490087B4GFZLJZE912</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>900.00000000</grossCommission>
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          <broker>
            <brokerName>JPMORGAN CHASE</brokerName>
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            <brokerCrdNo>000000079</brokerCrdNo>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>960.00000000</grossCommission>
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          <broker>
            <brokerName>JONES TRADING</brokerName>
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            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>7128.00000000</grossCommission>
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          <broker>
            <brokerName>SIDOTI &amp; CO</brokerName>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>4714.00000000</grossCommission>
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          <broker>
            <brokerName>NATIONAL FINANCIAL SERVICES</brokerName>
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            <brokerCrdNo>000013041</brokerCrdNo>
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            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>9991.50000000</grossCommission>
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          <broker>
            <brokerName>D. A. DAVIDSON</brokerName>
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            <brokerCrdNo>000000199</brokerCrdNo>
            <brokerLei>254900C6OXP35PW89G33</brokerLei>
            <brokerStateCountry brokerState="US-MT" brokerCountry="US"/>
            <grossCommission>1220.00000000</grossCommission>
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        <aggregateCommission>41306.58</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>ROTH CAPITAL PARTNERS</principalName>
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            <principalCrdNo>000015407</principalCrdNo>
            <principalLei>549300FMF3TPT1HFRF48</principalLei>
            <principalStateCountry principalState="US-CA" principalCountry="US"/>
            <principalTotalPurchaseSale>432500.00000000</principalTotalPurchaseSale>
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        <principalAggregatePurchase>432500.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>127182107.00000000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
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        <isSwingPricing>N</isSwingPricing>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>North Star Dividend Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000040441</mgmtInvSeriesId>
        <mgmtInvLei>549300PH7E83UXZFBS09</mgmtInvLei>
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        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="North Star Dividend Fund Class I Shares" sharesOutstandingClassId="C000125620" sharesOutstandingTickerSymbol="NSDVX"/>
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        <fundType>N/A</fundType>
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        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
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        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>North Star Investment Management Corp.</investmentAdviserName>
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            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
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        <transferAgents>
          <transferAgent>
            <transferAgentName>Ultimus Fund Solutions, LLC</transferAgentName>
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            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NE" transferAgentCountry="US"/>
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            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
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            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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          <custodian>
            <custodianName>MUFG Union Bank, N.A.</custodianName>
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            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
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            <grossCommission>3519.00000000</grossCommission>
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            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>2400.00000000</grossCommission>
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          <broker>
            <brokerName>NATIONAL FINANCIAL SERVICES</brokerName>
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            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>5331.76000000</grossCommission>
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        <aggregateCommission>15590.76000000</aggregateCommission>
        <principalAggregatePurchase>0</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>90655600.00000000</mnthlyAvgNetAssets>
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        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>North Star Opportunity Fund</mgmtInvFundName>
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        <fundType>N/A</fundType>
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        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>North Star Investment Management Corp.</investmentAdviserName>
            <investmentAdviserFileNo>801-62013</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000117681</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-IL" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Ultimus Fund Solutions, LLC</transferAgentName>
            <transferAgentFileNo>84-05829</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NE" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-WI" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>MUFG Union Bank, N.A.</custodianName>
            <custodianLei>OX3PU53ZLPQKJ4700D47</custodianLei>
            <custodianStateCountry custodianState="US-CA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>Y</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Ultimus Fund Solutions, LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>84-05829</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>filing number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NE" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Ultimus Fund Solutions, LLC</adminName>
            <adminLei>84-05829</adminLei>
            <idNumberDesc>filing number</idNumberDesc>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
            <brokerName>JPMORGAN CHASE</brokerName>
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            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>8I5DZWZKVSZI1NUHU748</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>900.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>JEFFERIES GROUP</brokerName>
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            <grossCommission>5400.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>NATIONAL FINANCIAL SERVICES</brokerName>
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            <brokerLei>549300JRHF1MHHWUAW04</brokerLei>
            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>13069.21000000</grossCommission>
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          <broker>
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            <brokerStateCountry brokerState="US-IL" brokerCountry="US"/>
            <grossCommission>152.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>NEUBERGER BERMAN</brokerName>
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          <broker>
            <brokerName>ROTH CAPITAL PARTNERS</brokerName>
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            <grossCommission>713.82000000</grossCommission>
          </broker>
          <broker>
            <brokerName>JONES TRADING</brokerName>
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            <grossCommission>8027.40000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>35245.70000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>JEFFERIES GROUP</principalName>
            <principalFileNo>8-15074</principalFileNo>
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            <principalLei>NY9Q8VBNB6D1L6YV0J84</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5400.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Berenberg</principalName>
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            <principalCrdNo>000156757</principalCrdNo>
            <principalLei>5493007EG0CYRKKG9L11</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1965000.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CRAIG-HALLUM CAPITAL GROUP</principalName>
            <principalFileNo>008-29831</principalFileNo>
            <principalCrdNo>000013820</principalCrdNo>
            <principalLei>549300EAYDU2H358PB45</principalLei>
            <principalStateCountry principalState="US-IL" principalCountry="US"/>
            <principalTotalPurchaseSale>152.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JPMORGAN CHASE</principalName>
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            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>8I5DZWZKVSZI1NUHU748</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>900.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>NEUBERGER BERMAN</principalName>
            <principalFileNo>8-1068</principalFileNo>
            <principalCrdNo>000002908</principalCrdNo>
            <principalLei>549300GUNP7BBJ217E93</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6983.27000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JONES TRADING</principalName>
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            <principalLei>2138008JJ5PA8H5UIL69</principalLei>
            <principalStateCountry principalState="US-CA" principalCountry="US"/>
            <principalTotalPurchaseSale>8027.40000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>ROTH CAPITAL PARTNERS</principalName>
            <principalFileNo>8-32129</principalFileNo>
            <principalCrdNo>000015407</principalCrdNo>
            <principalLei>549300FMF3TPT1HFRF48</principalLei>
            <principalStateCountry principalState="US-CA" principalCountry="US"/>
            <principalTotalPurchaseSale>713.82000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1965000.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>164441882.00000000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
    </attachmentsTab>
    <signature registrantSignedName="Northern Lights Fund Trust II" signedDate="2021-11-30" signature="Erik Naviloff" title="Treasurer"/>
  </formData>
</edgarSubmission>
