# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0001752724-23-016794
**Filing Date:** 2023-1
**Character Count:** 19229
**Document Hash:** adf7955f290186036df42fe04949ea6b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-016794.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001752724-23-016794

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**PERIOD START**: 20221130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN LIGHTS FUND TRUST II
- **CENTRAL INDEX KEY:** 0001518042
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22549
- **FILM NUMBER:** 23563774

**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 Micro Cap Fund (Series ID: S000040440)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000125617 | North Star Micro Cap Fund Class I Shares | NSMVX           |

## 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 Micro Cap Fund

- **b. EDGAR series identifier (if any):** S000040440

- **c. LEI of Series:** 549300FYO7U97U8RHB49

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

- **a. Date of fiscal year-end:** 2022-11-30

- **b. Date as of which information is reported:** 2022-11-30

**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:** $93812835.94

**Total Liabilities:** $149447.92

**Net Assets:** $93663388.02

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000125617 | -11.04%              | 8.30%                | 5.96%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2596112.52             | $-7552154.16                               |
| Month 2  | $0.00                    | $6755410.43                                |
| Month 3  | $-27329.86               | $5175263.42                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SP Plus Corp.                         | SP PLUS CORP              | CUSIP: 78469C103<br>LEI: 0IDE18EMH1CUKQCUYE69 | Long             | EC               | CORP              | US        |    148000 | NS      | $5163720.00   | 5.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Tennant Co                            | TENNANT CO                | CUSIP: 880345103<br>LEI: JYAIRLT8DVP6DP8UT336 | Long             | EC               | CORP              | US        |     17500 | NS      | $1111775.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Apparel Inc                     | DELTA APPAREL INC         | CUSIP: 247368103<br>LEI: 549300YCES15WEDS8Z04 | Long             | EC               | CORP              | US        |     78000 | NS      | $1029600.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Outdoors Inc.                 | JOHNSON OUTDOO-A          | CUSIP: 479167108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43500 | NS      | $2460360.00   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust Inc               | POSTAL REALTY-A           | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               | CORP              | US        |     75000 | NS      | $1161750.00   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Territorial Bancorp Inc               | TERRITORIAL BANCORP INC   | CUSIP: 88145X108<br>LEI: 5493003VDUGN5KBPTN24 | Long             | EC               | CORP              | US        |     55000 | NS      | $1248500.00   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Beach Brands Holding Co.     | HAMILTON -A               | CUSIP: 40701T104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     88051 | NS      | $1250324.20   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Nathans Famous Inc                    | NATHAN'S FAMOUS INC       | CUSIP: 632347100<br>LEI: 54930034SKNSF1JIE673 | Long             | EC               | CORP              | US        |      9000 | NS      | $611100.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| US Silica Holdings Inc                | US SILICA HOLDIN          | CUSIP: 90346E103<br>LEI: 529900HOXGPM9F75C193 | Long             | EC               | CORP              | US        |     30000 | NS      | $392700.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERN FDS INC                   | FIRST AM-TR OB-X          | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   8344938 | PA      | $8344937.86   | 8.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocky Brands Inc.                     | ROCKY BRANDS INC          | CUSIP: 774515100<br>LEI: 5299004HQ6GCTW838N96 | Long             | EC               | CORP              | US        |    102500 | NS      | $2898700.00   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners Inc.             | GREEN BRICK PART          | CUSIP: 392709101<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EC               | CORP              | US        |     98000 | NS      | $2369640.00   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Escalade Inc.                         | ESCALADE INC              | CUSIP: 296056104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    244000 | NS      | $2466840.00   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp.                       | BLUE BIRD CORP            | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |     97500 | NS      | $1151475.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Truett-Hurst Inc                      | TRUETT-HURST INC          | CUSIP: 897871109<br>LEI: 549300S4QF6KU1JNI295 | Long             | EC               | CORP              | US        |    278942 | NS      | $105997.96    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| ARC Document Solutions Inc            | ARC DOCUMENT SOL          | CUSIP: 00191G103<br>LEI: 529900E4UQREZKXE7O60 | Long             | EC               | CORP              | US        |    609000 | NS      | $1790460.00   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corporation               | ACCO BRANDS CORP          | CUSIP: 00081T108<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | EC               | CORP              | US        |    326000 | NS      | $1815820.00   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Lime & Minerals Inc.    | US LIME & MINERA          | CUSIP: 911922102<br>LEI: 549300VGDEEG8RT7VC89 | Long             | EC               | CORP              | US        |     23000 | NS      | $3196540.00   | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| PetMed Express Inc.                   | PETMED EXPRESS            | CUSIP: 716382106<br>LEI: 529900PGHW5ASJ1AZL48 | Long             | EC               | CORP              | US        |     47000 | NS      | $930600.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Lakeland Inds                         | LAKELAND INDS             | CUSIP: 511795106<br>LEI: 549300HGP70IM9WKU164 | Long             | EC               | CORP              | US        |    149000 | NS      | $1986170.00   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Company          | CENTRAL GARDEN            | CUSIP: 153527106<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |     19800 | NS      | $812790.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Casinos Inc.                  | CENTURY CASINOS           | CUSIP: 156492100<br>LEI: 549300H2L4Y24HXY7M50 | Long             | EC               | CORP              | US        |    125600 | NS      | $938232.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Lakes Dredge & Dock Corporation | GREAT LAKES DRED          | CUSIP: 390607109<br>LEI: 549300H65E3MZ1CX0P05 | Long             | EC               | CORP              | US        |    162000 | NS      | $1185840.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution Petr Cor                    | EVOLUTION PETROL          | CUSIP: 30049A107<br>LEI: 549300P9ZXGJZ6SSM116 | Long             | EC               | CORP              | US        |    162300 | NS      | $1173429.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Denny's Corp.                         | DENNY'S CORP              | CUSIP: 24869P104<br>LEI: 54930037V56XOULXM917 | Long             | EC               | CORP              | US        |     86500 | NS      | $1084710.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Accuray Inc.                          | ACCURAY INC               | CUSIP: 004397105<br>LEI: 549300G28LY4TZKZJG51 | Long             | EC               | CORP              | US        |    600000 | NS      | $1230000.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Enterprises                    | APOGEE ENTERPR            | CUSIP: 037598109<br>LEI: 549300579S7QW8V4IJ60 | Long             | EC               | CORP              | US        |     32150 | NS      | $1551237.50   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Astronova Inc                         | ASTRONOVA INC             | CUSIP: 04638F108<br>LEI: 549300D8PFP62QX00223 | Long             | EC               | CORP              | US        |     83000 | NS      | $975250.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Superior Group of Companies Inc.      | SUPERIOR GROUP O          | CUSIP: 868358102<br>LEI: UOX145EEO0TB0ZWX2152 | Long             | EC               | CORP              | US        |    122600 | NS      | $1226000.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Container Store Group Inc             | CONTAINER STORE           | CUSIP: 210751103<br>LEI: 529900L7KB2N9KXCDI76 | Long             | EC               | CORP              | US        |    162500 | NS      | $771875.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc                       | ALAMO GROUP               | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |     21900 | NS      | $3295950.00   | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Movado Group Inc                      | MOVADO GROUP              | CUSIP: 624580106<br>LEI: 549300WCGCGPWGHVXM59 | Long             | EC               | CORP              | US        |     26500 | NS      | $853035.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Crafts Inc                      | CROWN CRAFTS INC          | CUSIP: 228309100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    157000 | NS      | $924730.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Allied Motion Technologies Inc.       | ALLIED MOTION TE          | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |     35250 | NS      | $1249260.00   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrett Business Services Inc.        | BARRETT BUS SVCS          | CUSIP: 068463108<br>LEI: 529900HXB6TMG0SR9Y34 | Long             | EC               | CORP              | US        |     38000 | NS      | $3736540.00   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| BAR Harbour Banksh                    | BAR HARBOR BNKSH          | CUSIP: 066849100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50500 | NS      | $1528635.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Duluth Holdings Inc.                  | DULUTH HOLDINGS INC - CL  | CUSIP: 26443V101<br>LEI: 549300B6G8G3WGHFYU15 | Long             | EC               | CORP              | US        |    115000 | NS      | $1007400.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| First Busey Corporation               | FIRST BUSEY CORP          | CUSIP: 319383204<br>LEI: 549300X4ZNLYSX7GUY60 | Long             | EC               | CORP              | US        |     50000 | NS      | $1303500.00   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Westwood Holdings Group Inc.          | WESTWOOD HOLDING          | CUSIP: 961765104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     85000 | NS      | $1021700.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Acme United Corp                      | ACME UNITED CORP          | CUSIP: 004816104<br>LEI: 549300NVT8NN13WP8M83 | Long             | EC               | CORP              | US        |    109481 | NS      | $2592510.08   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Miller Industries Inc. (Tennessee)    | MILLER INDS/TENN          | CUSIP: 600551204<br>LEI: 549300F1O74SPUJ7UU94 | Long             | EC               | CORP              | US        |     33731 | NS      | $930638.29    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Build A Bear Workshop Inc             | BUILD-A-BEAR WORKSHOP INC | CUSIP: 120076104<br>LEI: 529900S9MWZC1UBF3D13 | Long             | EC               | CORP              | US        |    172000 | NS      | $4085000.00   | 4.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Turtle Beach Corp.                    | TURTLE BEACH COR          | CUSIP: 900450206<br>LEI: 549300SZRV8U8PXSYI20 | Long             | EC               | CORP              | US        |    116200 | NS      | $1109710.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| QEP Company Inc                       | QEP COMPANY INC           | CUSIP: 74727K102<br>LEI: 5493001EVXNSLN64CH74 | Long             | EC               | CORP              | US        |    116499 | NS      | $1625161.05   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| 1-800-Flowers.Com Inc                 | 1-800-FLOWERS-A           | CUSIP: 68243Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    214000 | NS      | $1810440.00   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| NAPCO Security Technologies Inc.      | NAPCO SECURITY            | CUSIP: 630402105<br>LEI: 529900KV21J4YY9YST76 | Long             | EC               | CORP              | US        |    117000 | NS      | $3086460.00   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastern Co                            | EASTERN CO                | CUSIP: 276317104<br>LEI: 5493005F8SU7UCM5D285 | Long             | EC               | CORP              | US        |    147400 | NS      | $3390200.00   | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors Inc.            | ETHAN ALLEN               | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     81563 | NS      | $2320467.35   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                | BOOT BARN HOLDIN          | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     52000 | NS      | $3502200.00   | 3.74%             |  |  |  | No            |                  1 | On Loan: No      |
| CarParts.com Inc.                     | CARPARTS.COM INC          | CUSIP: 14427M107<br>LEI: 5493005FSRX4Y7E7H678 | Long             | EC               | CORP              | US        |    340500 | NS      | $1845510.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-28

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

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer