# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0000910472-26-000392
**Filing Date:** 2026-1
**Character Count:** 20311
**Document Hash:** 82d51a69457100770a1b1c84fb52e1d5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-000392.hdr.sgml**: 20260126

**ACCESSION NUMBER**: 0000910472-26-000392

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260126

**DATE AS OF CHANGE**: 20260126

**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:** 26558702

**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:** 2025-11-30

- **b. Date as of which information is reported:** 2025-11-30

**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:** $138164060.72

**Total Liabilities:** $314737.24

**Net Assets:** $137849323.48

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000106067 | 2.15%                | 3.33%                | 1.73%                |
| Class ID C000106068 | 2.14%                | 3.31%                | 1.71%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-0.20                   | $2725345.30                                |
| Month 2  | $204211.35               | $3979178.50                                |
| Month 3  | $0.00                    | $2182891.22                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Green Thumb Indust                           | GREEN THUMB INDU    | CUSIP: 39342L108<br>LEI: 529900Q0L3K192QQY915 | Long             | EC               | CORP              | CA        |    230000 | NS      | $1363900.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc.                                  | ABBVIE INC          | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     18000 | NS      | $4098600.00   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.                    | FIRST AM-TR OB-X    | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    931242 | PA      | $931242.17    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Sphere Entertainment Co.                     | SPHERE ENTERTAIN    | CUSIP: 55826T102<br>LEI: 254900ZW4JWKYRZZ9A91 | Long             | EC               | CORP              | US        |     75000 | NS      | $6344250.00   | 4.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Energizer Holdings Inc                       | ENR 6 09/15/33      | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $945231.60    | 0.69%             | 2033-09-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| NVIDIA Corp.                                 | NVIDIA CORP         | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     11000 | NS      | $1947000.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                                | QUALCOMM INC        | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     24000 | NS      | $4034160.00   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Wendy's International Inc.                   | WEN 7 12/15/25      | CUSIP: 950590AG4<br>LEI: 549300PQTT267ME8D359 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1856294.14   | 1.35%             | 2025-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc.                                  | ZOETIS INC          | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     19000 | NS      | $2435420.00   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Embecta Corp.                                | EMBC 6 3/4 02/15/30 | CUSIP: 29082KAB1<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1039920.00   | 0.75%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Cisco Systems, Inc.                          | CISCO SYSTEMS       | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     40000 | NS      | $3077600.00   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc.                  | ADV MICRO DEVICE    | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     35500 | NS      | $7722315.00   | 5.60%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                         | LXP INDUSTRIAL T    | CUSIP: 529043408<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |     32000 | NS      | $1552000.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinker International, Inc.                  | EAT 8 1/4 07/15/30  | CUSIP: 109641AK6<br>LEI: 52990067JY6PBGJNTG76 | Long             | DBT              | CORP              | US        |    950000 | PA      | $1008524.75   | 0.73%             | 2030-07-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| KKR & Co Inc.                                | KKR & CO INC        | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |     31500 | NS      | $3852765.00   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                         | LXP 6 1/2 PERP      | CUSIP: 529043309<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EP               | CORP              | US        |     12000 | NS      | $561000.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Brundage-Bone Concrete Pumping Holdings Inc. | BBCP 7 1/2 02/01/32 | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1014012.00   | 0.74%             | 2032-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Target Corp.                                 | TARGET CORP         | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     13000 | NS      | $1178060.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree, Inc.                             | WT 4 5/8 08/15/30   | CUSIP: 97717PAJ3<br>LEI: 549300WIU8IS7UFO7871 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1004635.04   | 0.73%             | 2030-08-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Exxon Mobil Corp.                            | EXXON MOBIL CORP    | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     16000 | NS      | $1854720.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Hawaii Corp.                         | BOH 8 PERP          | CUSIP: 062540307<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EP               | CORP              | US        |     17000 | NS      | $451690.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCO Brands Corporation                      | ACCO 4 1/4 03/15/29 | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |    850000 | PA      | $771576.62    | 0.56%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Great Lakes Dredge & Dock Corporation        | GLDD 5 1/4 06/01/29 | CUSIP: U39023AG8<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |    900000 | PA      | $877246.20    | 0.64%             | 2029-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bills                 | B 12/11/25          | CUSIP: 912797QY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9989138.90   | 7.25%             | 2025-12-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Vail Resorts, Inc.                           | MTN 5 5/8 07/15/30  | CUSIP: U90984AG7<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015300.00   | 0.74%             | 2030-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Wintrust Financial Corporation               | WTFC 7 7/8 PERP     | CUSIP: 97650W702<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EP               | CORP              | US        |     35000 | NS      | $919100.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                   | APPLE INC           | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     21000 | NS      | $5855850.00   | 4.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.                          | KINDER MORGAN IN    | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    125000 | NS      | $3415000.00   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Acme United Corp                             | ACME UNITED CORP    | CUSIP: 004816104<br>LEI: 549300NVT8NN13WP8M83 | Long             | EC               | CORP              | US        |     62800 | NS      | $2323600.00   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                             | AMAZON.COM INC      | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     22000 | NS      | $5130840.00   | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                       | BOOT BARN HOLDIN    | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     20000 | NS      | $3876400.00   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corporation               | WTFC 4.85 06/06/29  | CUSIP: 97650WAG3<br>LEI: Q774KI4AW80FHFW33O61 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1043422.92   | 0.76%             | 2029-06-06      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Beazer Homes USA Inc.                        | BZH 5 7/8 10/15/27  | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1055764.50   | 0.77%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Blackstone Inc                               | BLACKSTONE INC      | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |     29000 | NS      | $4246180.00   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                         | JPMORGAN CHASE      | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     19000 | NS      | $5948520.00   | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Entertainment Corp New | MADISON SQUARE G    | CUSIP: 558256103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74000 | NS      | $3660780.00   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Energizer Holdings Inc                       | ENR 4 3/4 06/15/28  | CUSIP: U29195AD3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    800000 | PA      | $790970.72    | 0.57%             | 2028-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Realty Income Corporation                    | REALTY INCOME       | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     33000 | NS      | $1901130.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Energy Systems Inc.                    | ORION ENERGY SYS    | CUSIP: 686275207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    220000 | NS      | $3491400.00   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                                  | PAYCHEX INC         | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     25000 | NS      | $2792250.00   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                               | EPR PROPERTIES      | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     49000 | NS      | $2561230.00   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| The Scotts Miracle-Gro Company               | SMG 5 1/4 12/15/26  | CUSIP: 810186AP1<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    800000 | PA      | $802375.44    | 0.58%             | 2026-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| General Mills, Inc.                          | GENERAL MILLS IN    | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     26600 | NS      | $1259510.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                | ALPHABET INC-A      | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     26500 | NS      | $8484770.00   | 6.16%             |  |  |  | No            |                  1 | On Loan: No      |
| First Busey Corporation                      | BUSE 8 1/4 PERP     | CUSIP: 319383600<br>LEI: 549300X4ZNLYSX7GUY60 | Long             | EP               | CORP              | US        |     25000 | NS      | $636750.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                        | BANK OF AMERICA     | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    108000 | NS      | $5794200.00   | 4.20%             |  |  |  | No            |                  1 | On Loan: No      |
| IIP Operating Partnership LP                 | IIPR 5 1/2 05/25/26 | CUSIP: 44988FAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    591000 | PA      | $582624.92    | 0.42%             | 2026-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lindblad Expeditions LLC                     | LIND 7 09/15/30     | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1026233.00   | 0.74%             | 2030-09-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| EPR Properties                               | EPR 5 3/4 PERP      | CUSIP: 26884U208<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EP               | CORP              | US        |      6000 | NS      | $141300.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                 | B 01/15/26          | CUSIP: 912797RJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9000000 | PA      | $8957487.69   | 6.50%             | 2026-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-26

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

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer