# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0001752724-23-043094
**Filing Date:** 2023-2
**Character Count:** 9354
**Document Hash:** ecbd53d7a075fd887b78df549c6330be
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-043094.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-043094

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20221231

**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:** 23674031

**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

### Dynamic U.S. Opportunity Fund (Series ID: S000035094)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000107964 | Dynamic U.S. Opportunity Fund Class I | ICSIX           |
| C000107965 | Dynamic U.S. Opportunity Fund Class N | ICSNX           |

## 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:** Dynamic US Opportunity Fund

- **b. EDGAR series identifier (if any):** S000035094

- **c. LEI of Series:** 549300OB7I9CZDR7MR50

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $142817772.93

**Total Liabilities:** $16119513.63

**Net Assets:** $126698259.30

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000107965 | 4.51%                | 5.18%                | -4.75%               |
| Class ID C000107964 | 4.58%                | 5.17%                | -4.79%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-499968.15              | $6217717.63                                |
| Month 2  | $-157641.89              | $6728733.36                                |
| Month 3  | $-373130.73              | $-6542729.77                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Select Sector Spdr         | ENERGY SELECT SECTOR SPDR        | CUSIP: 81369Y506<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     77700 | NS      | $6796419.00   | 5.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr         | REAL ESTATE SELECT SECT S        | CUSIP: 81369Y860<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     15899 | NS      | $587150.07    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr         | INDUSTRIAL SELECT SECT SP        | CUSIP: 81369Y704<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     55500 | NS      | $5450655.00   | 4.30%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                        | Morgan S. INST. LQDTY Treasury P | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Vanguard Index Fds         | VANGUARD VALUE ETF               | CUSIP: 922908744<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |     13933 | NS      | $1955775.21   | 1.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr         | CONSUMER STAPLES SPDR            | CUSIP: 81369Y308<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    101615 | NS      | $7575398.25   | 5.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr         | TECHNOLOGY SELECT SECT SP        | CUSIP: 81369Y803<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    176378 | NS      | $21948478.32  | 17.32%            |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr         | MATERIALS SELECT SECTOR S        | CUSIP: 81369Y100<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     35430 | NS      | $2752202.40   | 2.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Trust              | ISHARES FLOATING RATE BON        | CUSIP: 46429B655<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    254456 | NS      | $12806770.48  | 10.11%            |  |  |  | No            | 1                  | On Loan: No      |
| FIRST AMERN FDS INC        | FIRST AM-TR OB-X                 | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   9999390 | PA      | $9999390.21   | 7.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr         | UTILITIES SELECT SECTOR S        | CUSIP: 81369Y886<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |      9698 | NS      | $683709.00    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr         | CONSUMER DISCRETIONARY SE        | CUSIP: 81369Y407<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     78657 | NS      | $10159338.12  | 8.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Trust              | ISHARES RUSSELL 2000 VALU        | CUSIP: 464287630<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     30826 | NS      | $4274641.42   | 3.37%             |  |  |  | No            | 1                  | On Loan: No      |
| American Century Etf Trust | AVANT SHRT-TR FI                 | CUSIP: 025072687<br>LEI: N/A                  | Long             | EC               | RF                | US        |     40900 | NS      | $1876369.30   | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Ishares Trust              | ISHARES 3-7 YEAR TREASURY        | CUSIP: 464288661<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    121845 | NS      | $13998772.05  | 11.05%            |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr         | COMM SERV SELECT SECTOR S        | CUSIP: 81369Y852<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |     81298 | NS      | $3901491.02   | 3.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr         | FINANCIAL SELECT SECTOR S        | CUSIP: 81369Y605<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    499519 | NS      | $17083549.80  | 13.48%            |  |  |  | No            | 1                  | On Loan: No      |
| Select Sector Spdr         | HEALTH CARE SELECT SECTOR        | CUSIP: 81369Y209<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    111955 | NS      | $15209086.75  | 12.00%            |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2023-01-27

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

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer