# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0001752724-23-016797
**Filing Date:** 2023-1
**Character Count:** 23948
**Document Hash:** c06111166909c42cb535ef4f457d3d23
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-016797.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001752724-23-016797

**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:** 23563772

**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 Opportunity Fund (Series ID: S000034503)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000106067 | North Star Opportunity Fund Class I Shares | NSOIX           |
| C000106068 | North Star Opportunity Fund Class A Shares | NSOPX           |

## 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 Opportunity Fund

- **b. EDGAR series identifier (if any):** S000034503

- **c. LEI of Series:** 5493002T5M2DVS4SSC59

**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:** $138141696.91

**Total Liabilities:** $297405.61

**Net Assets:** $137844291.30

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000106067 | -8.37%               | 4.98%                | 4.31%                |
| Class ID C000106068 | -8.41%               | 5.03%                | 4.23%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2571522.61             | $-9205486.19                               |
| Month 2  | $-2124475.64             | $8300889.25                                |
| Month 3  | $-19546.23               | $5483412.25                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| United States Treasury Bills                    | B 09/07/23         | CUSIP: 912796YH6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1931277.50   | 1.40%             | 2023-09-07      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                     | ABBVIE INC         | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     28000 | NS      | $4513040.00   | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERN FDS INC                             | FIRST AM-TR OB-X   | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   1397576 | PA      | $1397575.98   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Entertainment Corporation | MADISON SQUARE G   | CUSIP: 55826T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61000 | NS      | $2935320.00   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Diversified                             | CODI 7 7/8 PERP    | CUSIP: 20451Q302<br>LEI: 5299001SM1LBYANJRR58 | Long             | EP               | CORP              | US        |     60000 | NS      | $1498800.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sono Group N V                                  | SONO GROUP NV      | CUSIP: N81409109<br>LEI: 391200GTRCF4TK71DT34 | Long             | EC               | CORP              | NL        |    131000 | NS      | $166370.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                                   | QUALCOMM INC       | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     23000 | NS      | $2909270.00   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Wendy's International Inc.                      | WEN 7 12/15/25     | CUSIP: 950590AG4<br>LEI: 529900M0JIUCMWVKHG76 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1867575.00   | 1.35%             | 2025-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                    | B 06/15/23         | CUSIP: 912796X53<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $976301.69    | 0.71%             | 2023-06-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc.                                     | ZOETIS INC         | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     19000 | NS      | $2928660.00   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corporation                          | MUR 5 3/4 08/15/25 | CUSIP: 626717AJ1<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |   1575000 | PA      | $1570605.59   | 1.14%             | 2025-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Lazard Group LLC                                | LAZ 3 3/4 02/13/25 | CUSIP: 52107QAG0<br>LEI: FI94J2CJ1D7BIGVMS874 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $967269.14    | 0.70%             | 2025-02-13      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Blue Bird Corp.                                 | BLUE BIRD CORP     | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |     15000 | NS      | $177150.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Inc                                      | SPROTT INC         | CUSIP: 852066208<br>LEI: 254900QHJAD5TP2JNM15 | Long             | EC               | CORP              | CA        |     71000 | NS      | $2543930.00   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices, Inc.                    | ADV MICRO DEVICE   | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     50000 | NS      | $3881500.00   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                 | CVS HEALTH CORP    | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     47000 | NS      | $4788360.00   | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc.                                   | KKR & CO INC-A     | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |     74000 | NS      | $3842080.00   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Topgolf Callaway Brands Corp                    | TOPGOLF CALLAWAY   | CUSIP: 131193104<br>LEI: 5493005UB0KFRKBPCU72 | Long             | EC               | CORP              | US        |    100000 | NS      | $2095000.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                    | B 05/11/23         | CUSIP: 912796ZE2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2939902.29   | 2.13%             | 2023-05-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                    | B 02/23/23         | CUSIP: 912796T33<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $990358.08    | 0.72%             | 2023-02-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| McKesson Corporation                            | MCK 3.796 03/15/24 | CUSIP: 581557BE4<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |    500000 | PA      | $492372.36    | 0.36%             | 2024-03-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Company                    | BRISTOL-MYER SQB   | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     40000 | NS      | $3211200.00   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service, Inc.                     | UNITED PARCEL-B    | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     11000 | NS      | $2087030.00   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Company                             | WALT DISNEY CO     | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     16000 | NS      | $1565920.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corporation                              | TARGET CORP        | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     20000 | NS      | $3341400.00   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                            | KEURIG DR PEPPER   | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     50000 | NS      | $1933500.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens & Minor Inc                               | OMI 4 3/8 12/15/24 | CUSIP: 690732AE2<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $957689.51    | 0.69%             | 2024-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Orion Energy Syste                              | ORION ENERGY SYS   | CUSIP: 686275108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    840000 | NS      | $1780800.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc.                                     | PFIZER INC         | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    119000 | NS      | $5965470.00   | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes                    | T 0 1/8 08/15/23   | CUSIP: 91282CAF8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $967924.01    | 0.70%             | 2023-08-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                    | B 12/29/22         | CUSIP: 912796R27<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1994107.16   | 1.45%             | 2022-12-29      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                    | B 03/23/23         | CUSIP: 912796U31<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $986893.67    | 0.72%             | 2023-03-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Apple Inc.                                      | APPLE INC          | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     33000 | NS      | $4884990.00   | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Acme United Corp                                | ACME UNITED CORP   | CUSIP: 004816104<br>LEI: 549300NVT8NN13WP8M83 | Long             | EC               | CORP              | US        |    124096 | NS      | $2938593.28   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                    | B 04/06/23         | CUSIP: 912796YN3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1970885.84   | 1.43%             | 2023-04-06      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Amazon.com, Inc.                                | AMAZON.COM INC     | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     20000 | NS      | $1930800.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                          | BOOT BARN HOLDIN   | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     33000 | NS      | $2222550.00   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                                  | BLACKSTONE INC     | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |     65000 | NS      | $5949450.00   | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CarParts.com Inc.                               | CARPARTS.COM INC   | CUSIP: 14427M107<br>LEI: 5493005FSRX4Y7E7H678 | Long             | EC               | CORP              | US        |    410000 | NS      | $2222200.00   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                            | JPMORGAN CHASE     | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     24000 | NS      | $3316320.00   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Company                              | F 7 1/8 11/15/25   | CUSIP: 345370BN9<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1387975.50   | 1.01%             | 2025-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| B. Riley Financial Inc                          | RILY 6 3/8         | CUSIP: 05580M868<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     42000 | NS      | $1004640.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                         | UNITEDHEALTH GRP   | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      3000 | NS      | $1643280.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                                     | PAYCHEX INC        | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     25000 | NS      | $3100750.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                                  | EPR PROPERTIES     | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     16000 | NS      | $665760.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| The J M Smucker Company                         | JM SMUCKER CO      | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |     14500 | NS      | $2233145.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                    | B 01/05/23         | CUSIP: 912796X95<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2988956.76   | 2.17%             | 2023-01-05      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                    | B 02/09/23         | CUSIP: 912796XZ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1984027.94   | 1.44%             | 2023-02-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| The Wendys Company                              | WENDY'S CO/THE     | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Long             | EC               | CORP              | US        |     52000 | NS      | $1173120.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc.                           | FREEPORT-MCMORAN   | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     41000 | NS      | $1631800.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Sally Holdings LLC                              | SBH 5 5/8 12/01/25 | CUSIP: 79546VAL0<br>LEI: 3GM3SMNQ8UJOJU9DFN26 | Long             | DBT              | CORP              | US        |    600000 | PA      | $575028.00    | 0.42%             | 2025-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Trinity Industries, Inc.                        | TRN 4.55 10/01/24  | CUSIP: 896522AH2<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1445550.00   | 1.05%             | 2024-10-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                   | ALPHABET INC-A     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     39000 | NS      | $3938610.00   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties Inc                              | UMH PROPERTIES I   | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |     47000 | NS      | $827670.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Secured Lending Fund                 | BXSL 3.65 07/14/23 | CUSIP: 09261LAD0<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $988545.07    | 0.72%             | 2023-07-14      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Bank of America Corporation                     | BANK OF AMERICA    | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    105000 | NS      | $3974250.00   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Global                                | PARAMOUNT GLOBAL   | CUSIP: 92556H206<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | EC               | CORP              | US        |    115000 | NS      | $2309200.00   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                                     | PEPSICO INC        | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     12000 | NS      | $2226120.00   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Diversified                             | COMPASS DIVERSIF   | CUSIP: 20451Q104<br>LEI: 5299001SM1LBYANJRR58 | Long             | EC               | CORP              | US        |    140000 | NS      | $2738400.00   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| The Mosaic Company                              | MOSAIC CO/THE      | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     30000 | NS      | $1539000.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BGSF Inc                                        | BGSF INC           | CUSIP: 05601C105<br>LEI: 549300AUC6I9ZG3KKQ91 | Long             | EC               | CORP              | US        |    284000 | NS      | $3751640.00   | 2.72%             |  |  |  | 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