# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0001752724-25-174683
**Filing Date:** 2025-7
**Character Count:** 18732
**Document Hash:** d5ec020d9b7b5dab2ea581c49037233e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-174683.hdr.sgml**: 20250723

**ACCESSION NUMBER**: 0001752724-25-174683

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250723

**DATE AS OF CHANGE**: 20250723

**PERIOD START**: 20251130

**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:** 251142335

**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 Dividend Fund (Series ID: S000040441)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000125620 | North Star Dividend Fund Class I Shares | NSDVX           |

## 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 Dividend Fund

- **b. EDGAR series identifier (if any):** S000040441

- **c. LEI of Series:** 549300PH7E83UXZFBS09

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-05-31

**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:** $82185860.66

**Total Liabilities:** $116112.95

**Net Assets:** $82069747.71

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000125620 | -2.95%               | -3.00%               | -0.39%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1085190.80              | $-3964839.13                               |
| Month 2  | $81494.21                | $-2760577.79                               |
| Month 3  | $-1118946.32             | $428032.28                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Evolution Petr Cor                | EVOLUTION PETROL          | CUSIP: 30049A107<br>LEI: 549300P9ZXGJZ6SSM116 | Long             | EC               | CORP              | US        |    367000 | NS      | $1647830.00   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions Inc        | SELECT WATER SOL          | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |    187000 | NS      | $1503480.00   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Enterprises Inc.           | APOGEE ENTERPR            | CUSIP: 037598109<br>LEI: 549300579S7QW8V4IJ60 | Long             | EC               | CORP              | US        |     18100 | NS      | $699565.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners Inc.         | GRBK 5 3/4 PERP           | CUSIP: 392709200<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EP               | CORP              | US        |     40000 | NS      | $934000.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Movado Group Inc                  | MOVADO GROUP              | CUSIP: 624580106<br>LEI: 549300WCGCGPWGHVXM59 | Long             | EC               | CORP              | US        |     60000 | NS      | $972000.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust              | LXP INDUSTRIAL T          | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |    107000 | NS      | $918060.00    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin Inc           | ALEXANDER & BALD          | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48000 | NS      | $859680.00    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Westwood Holdings Group Inc.      | WESTWOOD HOLDING          | CUSIP: 961765104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    153700 | NS      | $2273223.00   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corporation | HORACE MANN EDUC          | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |     23000 | NS      | $998890.00    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Otter Tail Corporation            | OTTER TAIL CORP           | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11600 | NS      | $895288.00    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Water Resources Inc.       | GLOBAL WATER RES          | CUSIP: 379463102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    162000 | NS      | $1644300.00   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Vitesse Energy Inc.               | VITESSE ENERGY            | CUSIP: 92852X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35000 | NS      | $732550.00    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Crafts Inc                  | CROWN CRAFTS INC          | CUSIP: 228309100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    169000 | NS      | $547560.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Flexsteel Industries Inc.         | FLEXSTEEL INDS            | CUSIP: 339382103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64000 | NS      | $1943680.00   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Inc                        | SPROTT INC                | CUSIP: 852066208<br>LEI: 254900QHJAD5TP2JNM15 | Long             | EC               | CORP              | CA        |     49000 | NS      | $2840040.00   | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust Inc           | POSTAL REALTY-A           | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               | CORP              | US        |    196000 | NS      | $2712640.00   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.         | FIRST AM-TR OB-X          | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   4755872 | PA      | $4755872.41   | 5.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Ennis Inc                         | ENNIS INC                 | CUSIP: 293389102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45000 | NS      | $840150.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival Inc                 | SHOE CARNIVAL             | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41000 | NS      | $788020.00    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corporation                  | GATX CORP                 | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |     14000 | NS      | $2229360.00   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Artesian Resources Corp.          | ARTESIAN RESOURCES CORP-C | CUSIP: 043113208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59000 | NS      | $2034910.00   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyco Group Inc.                  | WEYCO GROUP               | CUSIP: 962149100<br>LEI: 549300I10J38MHJELM87 | Long             | EC               | CORP              | US        |     59000 | NS      | $1850240.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corporation    | WINTRUST FINL             | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     10000 | NS      | $1194100.00   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors Inc.        | ETHAN ALLEN               | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     96300 | NS      | $2516319.00   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NorthWestern Energy Group Inc     | NORTHWESTERN ENE          | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |     38000 | NS      | $2102540.00   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| BAR Harbour Banksh                | BAR HARBOR BNKSH          | CUSIP: 066849100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76500 | NS      | $2224620.00   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocky Brands Inc.                 | ROCKY BRANDS INC          | CUSIP: 774515100<br>LEI: 5299004HQ6GCTW838N96 | Long             | EC               | CORP              | US        |     91000 | NS      | $2070250.00   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Crawford & Co                     | CRAWFORD & CO-A           | CUSIP: 224633206<br>LEI: 7TZZFJ2GPOGLWIKIXY82 | Long             | EC               | CORP              | US        |     84000 | NS      | $872760.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckle Inc                        | THE BUCKLE INC            | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |     22000 | NS      | $937420.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Village Super Market Inc.         | VILLAGE SUPER -A          | CUSIP: 927107409<br>LEI: 25490069686XCNNEMQ07 | Long             | EC               | CORP              | US        |     50000 | NS      | $1929000.00   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| RGC Resources Inc                 | RGC RESOURCES             | CUSIP: 74955L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     90000 | NS      | $1849500.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Unitil Corp                       | UNITIL CORP               | CUSIP: 913259107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33500 | NS      | $1836805.00   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corporation           | ACCO BRANDS CORP          | CUSIP: 00081T108<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | EC               | CORP              | US        |    357000 | NS      | $1281630.00   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Value Line Inc.                   | VALUE LINE INC            | CUSIP: 920437100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16100 | NS      | $630959.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Escalade Inc.                     | ESCALADE INC              | CUSIP: 296056104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    166000 | NS      | $2463440.00   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| H2O America                       | H2O AMERICA               | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39000 | NS      | $2046720.00   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Superior Group of Companies Inc.  | SUPERIOR GROUP O          | CUSIP: 868358102<br>LEI: UOX145EEO0TB0ZWX2152 | Long             | EC               | CORP              | US        |    148000 | NS      | $1459280.00   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Motor Products, Inc.     | STANDARD MOTOR            | CUSIP: 853666105<br>LEI: THGK1EO5B5HK0JHQVZ90 | Long             | EC               | CORP              | US        |     33000 | NS      | $999900.00    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Natural Holding Company | NORTHWEST NATURA          | CUSIP: 66765N105<br>LEI: 254900PSJL6ZEC8FR782 | Long             | EC               | CORP              | US        |     48000 | NS      | $1966560.00   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corporation                | AVISTA CORP               | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     46000 | NS      | $1771460.00   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ABM Industries Inc.               | ABM INDUSTRIES            | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |     23200 | NS      | $1221480.00   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Spok Hldgs Inc                    | SPOK HOLDINGS IN          | CUSIP: 84863T106<br>LEI: 549300HXXANIVN2ICC89 | Long             | EC               | CORP              | US        |    122000 | NS      | $1976400.00   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Energizer Holdings Inc            | ENERGIZER HOLDIN          | CUSIP: 29272W109<br>LEI: 5493000D6NN0V57UME20 | Long             | EC               | CORP              | US        |     66000 | NS      | $1537140.00   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties Inc                | UMH PROPERTIES I          | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |    125000 | NS      | $2098750.00   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Hawaii Corp.              | BANK OF HAWAII            | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EC               | CORP              | US        |     15850 | NS      | $1054183.50   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil-Dri Corporation Of America    | OIL DRI CORP              | CUSIP: 677864100<br>LEI: 549300RSG5KPUH16WH66 | Long             | EC               | CORP              | US        |     73500 | NS      | $3687495.00   | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| LSI Industries Inc.               | LSI INDUSTRIES            | CUSIP: 50216C108<br>LEI: 529900HY42OANH6BVT33 | Long             | EC               | CORP              | US        |    178000 | NS      | $2896060.00   | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Beach Brands Holding Co. | HAMILTON -A               | CUSIP: 40701T104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98000 | NS      | $1790460.00   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite Ridge Resources Inc       | GRANITE RIDGE RE          | CUSIP: 387432107<br>LEI: 254900CAHJQKOQ1YZC67 | Long             | EC               | CORP              | US        |    149000 | NS      | $837380.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-27

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

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer