# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0001752724-23-016795
**Filing Date:** 2023-1
**Character Count:** 18196
**Document Hash:** 1e923a50aea58cbaaf59ff1ebd0689ec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-016795.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001752724-23-016795

**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:** 23563771

**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:** 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:** $87467086.80

**Total Liabilities:** $132453.08

**Net Assets:** $87334633.72

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000125620 | -9.30%               | 9.60%                | 5.98%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-8124646.48                               |
| Month 2  | $-431318.20              | $7627627.75                                |
| Month 3  | $0.00                    | $4706210.50                                |

### 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        |    401000 | NS      | $2899230.00   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Dynamics Inc.               | DOUGLAS DYNAMICS          | CUSIP: 25960R105<br>LEI: 529900CDFLKNQ0QT6580 | Long             | EC               | CORP              | US        |     72000 | NS      | $2802240.00   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian Inc.                 | FIRST HAWAIIA             | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |     73000 | NS      | $1938150.00   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Enterprises                  | APOGEE ENTERPR            | CUSIP: 037598109<br>LEI: 549300579S7QW8V4IJ60 | Long             | EC               | CORP              | US        |     30100 | NS      | $1452325.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Movado Group Inc                    | MOVADO GROUP              | CUSIP: 624580106<br>LEI: 549300WCGCGPWGHVXM59 | Long             | EC               | CORP              | US        |     27500 | NS      | $885225.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Diversified                 | COMPASS DIVERSIF          | CUSIP: 20451Q104<br>LEI: 5299001SM1LBYANJRR58 | Long             | EC               | CORP              | US        |    111000 | NS      | $2171160.00   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Westwood Holdings Group Inc.        | WESTWOOD HOLDING          | CUSIP: 961765104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     79000 | NS      | $949580.00    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corporation   | HORACE MANN EDUC          | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |     23000 | NS      | $887570.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Otter Tail Corporation              | OTTER TAIL CORP           | CUSIP: 689648103<br>LEI: 549300HHVBQRQUVKKD91 | Long             | EC               | CORP              | US        |     34500 | NS      | $2057235.00   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp                | OLD NATL BANCORP          | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |     47200 | NS      | $901992.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovative Industrial Propertes Inc | INNOVATIVE INDUS          | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               | CORP              | US        |     10300 | NS      | $1248463.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Water Resources Inc.         | GLOBAL WATER RES          | CUSIP: 379463102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    152000 | NS      | $1942560.00   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson Companies Inc.            | PATTERSON COS             | CUSIP: 703395103<br>LEI: YM48Q2087CUE26GWEK09 | Long             | EC               | CORP              | US        |     31400 | NS      | $893016.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Acme United Corp                    | ACME UNITED CORP          | CUSIP: 004816104<br>LEI: 549300NVT8NN13WP8M83 | Long             | EC               | CORP              | US        |     21000 | NS      | $497280.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| BGSF Inc                            | BGSF INC                  | CUSIP: 05601C105<br>LEI: 549300AUC6I9ZG3KKQ91 | Long             | EC               | CORP              | US        |    212800 | NS      | $2811088.00   | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Crafts Inc                    | CROWN CRAFTS INC          | CUSIP: 228309100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    410000 | NS      | $2414900.00   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Flexsteel Industries Inc.           | FLEXSTEEL INDS            | CUSIP: 339382103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64000 | NS      | $947200.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Inc                          | SPROTT INC                | CUSIP: 852066208<br>LEI: 254900QHJAD5TP2JNM15 | Long             | EC               | CORP              | CA        |     50000 | NS      | $1791500.00   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust Inc             | POSTAL REALTY-A           | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               | CORP              | US        |    100000 | NS      | $1549000.00   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERN FDS INC                 | FIRST AM-TR OB-X          | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |  10056157 | PA      | $10056157.24  | 11.51%            |  |  |  | No            |                  1 | On Loan: No      |
| Dallasnews Corporation              | DALLASNEWS CORP           | CUSIP: 235050101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    166000 | NS      | $728740.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corporation                    | GATX CORP                 | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |     14000 | NS      | $1578500.00   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection Inc.           | RESOURCES CONNEC          | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     93000 | NS      | $1794900.00   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyco Group                         | WEYCO GROUP               | CUSIP: 962149100<br>LEI: 549300I10J38MHJELM87 | Long             | EC               | CORP              | US        |     56000 | NS      | $1433600.00   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Myers Industries Inc.               | MYERS INDS INC            | CUSIP: 628464109<br>LEI: 549300I2H9XMVTCW4Q51 | Long             | EC               | CORP              | US        |     46000 | NS      | $1073640.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corporation      | WINTRUST FINL             | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     26500 | NS      | $2422895.00   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors Inc.          | ETHAN ALLEN               | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     96300 | NS      | $2739735.00   | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Corporation            | NORTHWESTERN COR          | CUSIP: 668074305<br>LEI: 3BPWMBHR1R9SHUN7J795 | Long             | EC               | CORP              | US        |     31500 | NS      | $1839915.00   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BAR Harbour Banksh                  | BAR HARBOR BNKSH          | CUSIP: 066849100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76500 | NS      | $2315655.00   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                       | VALVOLINE INC             | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |     26400 | NS      | $870672.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocky Brands Inc.                   | ROCKY BRANDS INC          | CUSIP: 774515100<br>LEI: 5299004HQ6GCTW838N96 | Long             | EC               | CORP              | US        |     79200 | NS      | $2239776.00   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Village Super Market Inc.           | VILLAGE SUPER -A          | CUSIP: 927107409<br>LEI: 25490069686XCNNEMQ07 | Long             | EC               | CORP              | US        |     38000 | NS      | $856520.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| RGC Resources Inc                   | RGC RESOURCES             | CUSIP: 74955L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59500 | NS      | $1444660.00   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Unitil Corp                         | UNITIL CORP               | CUSIP: 913259107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20000 | NS      | $1096400.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corporation             | ACCO BRANDS CORP          | CUSIP: 00081T108<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | EC               | CORP              | US        |    321000 | NS      | $1787970.00   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Value Line Inc.                     | VALUE LINE INC            | CUSIP: 920437100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15900 | NS      | $890400.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanFirst Financial Corp.          | OCEANFIRST FINANCIAL CORP | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43000 | NS      | $1004480.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Wiley John & Sons Inc.              | WILEY JOHN&SON-A          | CUSIP: 968223206<br>LEI: 5493003XM719UN7E8P64 | Long             | EC               | CORP              | US        |     31200 | NS      | $1479192.00   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Escalade Inc.                       | ESCALADE INC              | CUSIP: 296056104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    179000 | NS      | $1809690.00   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Alico Inc                           | ALICO INC                 | CUSIP: 016230104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21000 | NS      | $649530.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Natural Holding Company   | NORTHWEST NATURA          | CUSIP: 66765N105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34000 | NS      | $1703740.00   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| ABM Inds Inc                        | ABM INDUSTRIES            | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |     23200 | NS      | $1094576.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| McGrath RentCorp.                   | MCGRATH RENTCORP          | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |     25000 | NS      | $2453000.00   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Steelcase Inc                       | STEELCASE INC-A           | CUSIP: 858155203<br>LEI: GIE4CCPBJDI8SMV1OX95 | Long             | EC               | CORP              | US        |    110000 | NS      | $872300.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Hawaii Corp.                | BANK OF HAWAII            | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EC               | CORP              | US        |     24400 | NS      | $1968348.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Oil-Dri Corporation Of America      | OIL DRI CORP              | CUSIP: 677864100<br>LEI: 549300RSG5KPUH16WH66 | Long             | EC               | CORP              | US        |     92500 | NS      | $3024750.00   | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| LSI Industries                      | LSI INDUSTRIES            | CUSIP: 50216C108<br>LEI: 529900HY42OANH6BVT33 | Long             | EC               | CORP              | US        |    420000 | NS      | $4985400.00   | 5.71%             |  |  |  | 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