# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0001752724-23-014911
**Filing Date:** 2023-1
**Character Count:** 30754
**Document Hash:** b3579ec5c70f3c7b3493bc0fb2f7598b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-014911.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001752724-23-014911

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**PERIOD START**: 20230531

**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:** 23557180

**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

### Longboard Managed Futures Strategy Fund (Series ID: S000037428)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000115546 | Longboard Managed Futures Strategy Fund Class A Shares | WAVEX           |
| C000115548 | Longboard Managed Futures Strategy Fund Class I Shares | WAVIX           |

## 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:** Longboard Managed Futures Strategy

- **b. EDGAR series identifier (if any):** S000037428

- **c. LEI of Series:** 5493009R7IL96RB03715

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

- **a. Date of fiscal year-end:** 2023-05-31

- **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:** $65934148.34

**Total Liabilities:** $33810558.09

**Net Assets:** $32123590.25

**Amount of Assets Invested in Other Investment Companies:** $3092460.99

**Cash Not Reported:** $17636038.20

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000115546 | 3.62%                | -1.20%               | -5.21%               |
| Class ID C000115548 | 3.66%                | -1.18%               | -5.22%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $4586.26                                   |
| Month 2  | $0.00                    | $1610.42                                   |
| Month 3  | $0.00                    | $-1657.10                                  |

**Designated Index Information**

- **Index Name:** S&P 500 (TR)

- **Index Identifier:** 500TR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ICE FUTURES EUROPE - AGRICULTURAL PRODUCTS DIVISION | WHITE SUGAR (ICE) Mar23 | CUSIP: N/A<br>LEI: N/A                        | Long             | DCO              | CORP              | GB        |        14 | NC      | $17610.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - CZK | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    700000 | NC      | $-3068.83     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE (FLOOR)                 | S&P500 EMINI FUT  Dec22 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |        -3 | NC      | $7350.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - NZD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    123530 | NC      | $2629.22      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - MXN | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   1376578 | NC      | $69968.52     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - GBP | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       | 144143125 | NC      | $8932.67      | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   3000000 | NC      | $-36934.17    | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| LONDON METAL EXCHANGE                               | LME PRI ALUM FUTR Dec22 | CUSIP: N/A<br>LEI: 213800NB8G5VRT1DXC91       | Short            | DCO              | CORP              | GB        |        -8 | NC      | $-59450.00    | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - AUD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    632710 | NC      | $46696.98     | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| EUREX DEUTSCHLAND                                   | Euro-BTP Future   Dec22 | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Short            | DIR              | CORP              | DE        |        -4 | NC      | $-8408.69     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| EUREX DEUTSCHLAND                                   | EURO-BUXL 30Y BND Dec22 | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Short            | DIR              | CORP              | DE        |        -2 | NC      | $4108.19      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   2300000 | NC      | $-15489.88    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   7434136 | NC      | $-9251.99     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CME GLOBEX                                          | E-Mini Russ 2000  Dec22 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |        -5 | NC      | $-145.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ASX - TRADE24                                       | AUST 3YR BOND FUT Dec22 | CUSIP: N/A<br>LEI: N/A                        | Short            | DIR              | CORP              | AU        |       -32 | NC      | $-7100.35     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| SINGAPORE EXCHANGE DERIVATIVES CLEARING LIMITED     | FTSE CHINA A50    Dec22 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | SG        |       -23 | NC      | $-14007.00    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - AUD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   1125000 | NC      | $-52213.71    | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| ASX - TRADE24                                       | AUST 10Y BOND FUT Dec22 | CUSIP: N/A<br>LEI: N/A                        | Short            | DIR              | CORP              | AU        |       -10 | NC      | $-8472.28     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - GBP | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   2033156 | NC      | $-23976.52    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S.                                    | FCOJ-A FUTURE     Jan23 | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Long             | DCO              | CORP              | US        |         3 | NC      | $937.50       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - AUD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       | 114938880 | NC      | $-19419.73    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE - AGRICULTURAL PRODUCTS DIVISION | COCOA FUTURE - IC Mar23 | CUSIP: N/A<br>LEI: N/A                        | Long             | DCO              | CORP              | GB        |        24 | NC      | $20346.43     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CME GLOBEX                                          | 90DAY EURO$ FUTR  Dec23 | CUSIP: N/A<br>LEI: N/A                        | Short            | DIR              | CORP              | US        |       -12 | NC      | $71850.00     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE (FLOOR)                 | NASDAQ 100 E-MINI Dec22 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |        -2 | NC      | $31258.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - CAD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   2600000 | NC      | $-48992.87    | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    750000 | NC      | $-42338.85    | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                                  | Low Su Gasoil G   Jan23 | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | Long             | DCO              | CORP              | GB        |         1 | NC      | $-950.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER                         | GOLD 100 OZ FUTR  Feb23 | CUSIP: N/A<br>LEI: N/A                        | Short            | DCO              | CORP              | US        |        -7 | NC      | $-1190.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                    | SUGAR #11 (WORLD) Mar23 | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Long             | DCO              | CORP              | US        |        39 | NC      | $-28257.60    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                        | B 02/09/23              | CUSIP: 912796XZ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15000000 | PA      | $14880209.55  | 46.32%            | 2023-02-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - BRL | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    364631 | NC      | $13480.76     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - CAD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   1096443 | NC      | $19089.79     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE                        | GASOLINE RBOB FUT Jan23 | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Long             | DCO              | CORP              | US        |         1 | NC      | $-7375.20     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   7049916 | NC      | $-16526.36    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| HONG KONG FUTURES EXCHANGE LTD.                     | HSCEI Futures     Dec22 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | HK        |        -7 | NC      | $-16763.55    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| HONG KONG FUTURES EXCHANGE LTD.                     | HANG SENG IDX FUT Dec22 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | HK        |        -2 | NC      | $-11270.50    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - CAD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |  86277440 | NC      | $-31612.35    | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - GBP | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   1750000 | NC      | $-5956.74     | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                              | US ULTRA BOND CBT Mar23 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |        -2 | NC      | $4688.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE - FINANCIAL PRODUCTS DIVISION    | LONG GILT FUTURE  Mar23 | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | Short            | DIR              | CORP              | GB        |        -4 | NC      | $1468.91      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                              | US LONG BOND(CBT) Mar23 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |        -4 | NC      | $4218.75      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    750000 | NC      | $-5914.55     | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| SINGAPORE EXCHANGE DERIVATIVES CLEARING LIMITED     | MSCI SING IX ETS  Dec22 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | SG        |       -26 | NC      | $-4106.21     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                              | US 5YR NOTE (CBT) Mar23 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |       -10 | NC      | $-2418.75     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| THE MONTREAL EXCHANGE / BOURSE DE MONTREAL          | CAN 10YR BOND FUT Mar23 | CUSIP: N/A<br>LEI: N/A                        | Short            | DIR              | CORP              | CA        |       -11 | NC      | $7553.82      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   1900000 | NC      | $-10734.96    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   2700000 | NC      | $39966.75     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| THE MONTREAL EXCHANGE / BOURSE DE MONTREAL          | BANK ACCEPT FUTR  Mar23 | CUSIP: N/A<br>LEI: N/A                        | Short            | DIR              | CORP              | CA        |       -35 | NC      | $6946.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    500000 | NC      | $-18820.98    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |  14081413 | NC      | $-14220.29    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S.                                    | MSCI EmgMkt       Dec22 | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Short            | DE               | CORP              | US        |        -7 | NC      | $2835.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - EUR | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   3088225 | NC      | $-72967.02    | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S.                                    | MSCI EAFE         Dec22 | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Short            | DE               | CORP              | US        |        -6 | NC      | $-24330.00    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                              | OAT FUTURE        Mar23 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DCO              | CORP              | US        |        -2 | NC      | $275.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - BRL | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    442095 | NC      | $-679.34      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EUREX DEUTSCHLAND                                   | EURO-BOBL FUTURE  Dec22 | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Short            | DIR              | CORP              | DE        |        -6 | NC      | $18736.04     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                              | CORN FUTURE       Mar23 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |         8 | NC      | $4400.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - GBP | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    478012 | NC      | $49851.29     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S.                                    | COFFEE 'C' FUTURE Mar23 | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Short            | DCO              | CORP              | US        |        -5 | NC      | $6843.75      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| LONDON METAL EXCHANGE                               | LME TIN FUTURE    Dec22 | CUSIP: N/A<br>LEI: 213800NB8G5VRT1DXC91       | Short            | DCO              | CORP              | GB        |        -1 | NC      | $-12550.00    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                              | US 2YR NOTE (CBT) Mar23 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |       -11 | NC      | $-3874.07     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| EUREX DEUTSCHLAND                                   | EURO-SCHATZ FUT   Dec22 | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Short            | DIR              | CORP              | DE        |       -24 | NC      | $36636.47     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - GBP | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   1750000 | NC      | $65832.73     | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| CME GLOBEX                                          | S&P MID 400 EMINI Dec22 | CUSIP: N/A<br>LEI: N/A                        | Short            | DE               | CORP              | US        |        -3 | NC      | $-14460.00    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER                         | COPPER FUTURE     Mar23 | CUSIP: N/A<br>LEI: N/A                        | Short            | DCO              | CORP              | US        |        -3 | NC      | $3975.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                    | COCOA FUTURE      Mar23 | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Short            | DCO              | CORP              | US        |       -30 | NC      | $900.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - CHF | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       | 112199700 | NC      | $-20012.02    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER                         | SILVER FUTURE     Mar23 | CUSIP: N/A<br>LEI: N/A                        | Short            | DCO              | CORP              | US        |        -4 | NC      | $-9240.00     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| EUREX DEUTSCHLAND                                   | EURO-BUND FUTURE  Dec22 | CUSIP: N/A<br>LEI: 529900UT4DG0LG5R9O07       | Short            | DIR              | CORP              | DE        |        -5 | NC      | $22979.24     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |   1000000 | NC      | $-30950.12    | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                              | US 10YR NOTE (CBT)Mar23 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Short            | DIR              | CORP              | US        |        -7 | NC      | $-109.37      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| LONDON METAL EXCHANGE                               | LME ZINC FUTURE   Dec22 | CUSIP: N/A<br>LEI: 213800NB8G5VRT1DXC91       | Short            | DCO              | CORP              | GB        |        -5 | NC      | $-36000.00    | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |  17290749 | NC      | $-38521.90    | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE - FINANCIAL PRODUCTS DIVISION    | 3MO EURO EURIBOR  Mar23 | CUSIP: N/A<br>LEI: 549300UF4R84F48NCH34       | Short            | DIR              | CORP              | GB        |       -22 | NC      | $-5631.68     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| LONDON METAL EXCHANGE                               | LME LEAD FUTURE   Dec22 | CUSIP: N/A<br>LEI: 213800NB8G5VRT1DXC91       | Short            | DCO              | CORP              | GB        |        -4 | NC      | $-40217.00    | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - JPY | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |    750000 | NC      | $-62531.50    | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF TRADE                              | SOYBEAN OIL FUTR  Jan23 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |         5 | NC      | $-5670.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE                        | NY Harb ULSD Fut  Jan23 | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Long             | DCO              | CORP              | US        |         1 | NC      | $-3582.60     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - USD | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |  50000000 | NC      | $-11599.64    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - GBP | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       | 122724525 | NC      | $13660.41     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | CURRENCY CONTRACT - EUR | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       | 125079588 | NC      | $4927.61      | 0.02%             |  |  |  | No            |                  2 | 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