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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TIDEWATER INC</name>
        <lei>2549000JA5GRUPLMUH98</lei>
        <title>TIDEWATER INC</title>
        <cusip>88642R109</cusip>
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          <isin value="US88642R1095"/>
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        <balance>85241.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6264361.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WHEATON PRECIOUS METALS CORP</name>
        <lei>549300XSFG5ZCGVYD886</lei>
        <title>WHEATON PRECIOUS</title>
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          <isin value="CA9628791027"/>
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        <balance>37306.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4946775.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NATURA COSMETICOS SA</name>
        <lei>98450085D7XCFF5A9N75</lei>
        <title>NATURA</title>
        <cusip>P7088C106</cusip>
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          <isin value="BRNATUACNOR6"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AKER ASA</name>
        <lei>5967007LIEEXZXJ10071</lei>
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        <cusip>R0114P108</cusip>
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          <isin value="NO0010234552"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JSE LTD</name>
        <lei>213800MZ1VUQEBWRFO39</lei>
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          <isin value="ZAE000079711"/>
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        <balance>772020.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>ZA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EDELWEISS FINANCIAL SERVICES LTD</name>
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        <cusip>Y22490208</cusip>
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          <isin value="INE532F01054"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAMSONITE GROUP SA</name>
        <lei>549300UULS5HYFJSEL12</lei>
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          <isin value="LU0633102719"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INTERNATIONAL PETROLEUM CORP</name>
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        <title>INTERNATIONAL PE</title>
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          <isin value="CA46016U1084"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TRAVIS PERKINS PLC</name>
        <lei>2138001I27OUBAF22K83</lei>
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          <isin value="GB00BK9RKT01"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MAGNA MINING INC</name>
        <lei>391200LYB0MF13ZWII58</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EXOR NV</name>
        <lei>5493002ENHZ6NYET7405</lei>
        <title>EXOR NV</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GRUPO CIBEST SA</name>
        <lei>529900OSSJBGZREZ2C28</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WESTAIM CORP (THE)</name>
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        <title>WESTAIM CORP/THE</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GREENFIRE RESOURCES LTD</name>
        <lei>254900MTS0G2VGMJW059</lei>
        <title>GREENFIRE RESOUR</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HAMMERSON PLC</name>
        <lei>213800G1C9KKVVDN1A60</lei>
        <title>HAMMERSON PLC</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ANGLO AMERICAN PLC</name>
        <lei>549300S9XF92D1X8ME43</lei>
        <title>ANGLO AMER PLC</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FAIRFAX INDIA HOLDINGS CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>UNICREDIT SPA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UNICREDIT SPA</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>IDFC FIRST BANK LTD</name>
        <lei>335800SBNAPYVT1D2K13</lei>
        <title>IDFC FIRST BANK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ARCOS DORADOS HOLDINGS INC</name>
        <lei>54930023P2MIZN13DQ85</lei>
        <title>ARCOS DORADOS-A</title>
        <cusip>G0457F107</cusip>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7581388.80000000</valUSD>
        <pctVal>2.729413647325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>UY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CNH INDUSTRIAL NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH INDUSTRIAL N</title>
        <cusip>N20944109</cusip>
        <identifiers>
          <isin value="NL0010545661"/>
        </identifiers>
        <balance>698558.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7132277.18000000</valUSD>
        <pctVal>2.567726729909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deducting sales loads and redemption fees, if any." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-06-26</ncom:dateSigned>
      <ncom:nameOfApplicant>Northern Lights Fund Trust IV</ncom:nameOfApplicant>
      <ncom:signature>Sam Singh</ncom:signature>
      <ncom:signerName>Sam Singh</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
