# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0001752724-23-000536
**Filing Date:** 2023-1
**Character Count:** 31622
**Document Hash:** 9bf240926bf2bcd3e05108e7959392a2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-000536.hdr.sgml**: 20230110

**ACCESSION NUMBER**: 0001752724-23-000536

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230110

**DATE AS OF CHANGE**: 20230110

**PERIOD START**: 20230831

**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:** 23520604

**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

### LifeGoal Home Down Payment Investment ETF (Series ID: S000072349)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000228500 | LifeGoal Home Down Payment Investment ETF | HOM             |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **LIFEGOAL HOME DOWN PAYMENT INVESTMENT ETF** | **LIFEGOAL HOME DOWN PAYMENT INVESTMENT ETF** | **LIFEGOAL HOME DOWN PAYMENT INVESTMENT ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 13.3%** |  |
|  | **ASSET MANAGEMENT - 0.7%** |  |
| 85 | Blackstone, Inc. | &nbsp;&nbsp;&nbsp; $7780 |
|  | **CHEMICALS - 0.5%** |  |
| 20 | Sherwin-Williams Company | &nbsp;&nbsp;&nbsp; 4984 |
|  | **CONSTRUCTION MATERIALS - 0.8%** |  |
| 95 | Owens Corning | &nbsp;&nbsp;&nbsp; 8440 |
|  | **ELECTRICAL EQUIPMENT - 0.3%** |  |
| 85 | Carrier Global Corporation | &nbsp;&nbsp;&nbsp; 3767 |
|  | **FORESTRY, PAPER & WOOD PRODUCTS - 0.7%** |  |
| 160 | Trex Company, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 7342 |
|  | **HOME & OFFICE PRODUCTS - 0.3%** |  |
| 20 | Whirlpool Corporation | &nbsp;&nbsp;&nbsp; 2931 |
|  | **HOME CONSTRUCTION – 3.6%** |  |
| 95 | DR Horton, Inc. | &nbsp;&nbsp;&nbsp; 8170 |
| 115 | Lennar Corporation, Class B | &nbsp;&nbsp;&nbsp; 8349 |
| 150 | Masco Corporation | &nbsp;&nbsp;&nbsp; 7617 |
| 135 | PulteGroup, Inc. | &nbsp;&nbsp;&nbsp; 6045 |
| 170 | Toll Brothers, Inc. | &nbsp;&nbsp;&nbsp; 8145 |
|  |  | &nbsp;&nbsp; 38326 |
|  | **MACHINERY - 0.2%** |  |
| 30 | Stanley Black & Decker, Inc. | &nbsp;&nbsp;&nbsp; 2452 |
|  | **METALS & MINING - 1.4%** |  |
| 325 | Newmont Corporation | &nbsp;&nbsp;&nbsp; 15428 |
|  | **RETAIL - CONSUMER STAPLES - 1.1%** |  |
| 75 | Walmart, Inc. | &nbsp;&nbsp;&nbsp; 11432 |

---

---

| | | |
|:---|:---|:---|
| **LIFEGOAL HOME DOWN PAYMENT INVESTMENT ETF** | **LIFEGOAL HOME DOWN PAYMENT INVESTMENT ETF** | **LIFEGOAL HOME DOWN PAYMENT INVESTMENT ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 13.3% (Continued)** |  |
|  | **RETAIL - DISCRETIONARY - 3.1%** |  |
| 50 | Floor & Decor Holdings, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $3732 |
| 45 | Home Depot, Inc. | &nbsp;&nbsp;&nbsp; 14579 |
| 55 | Lowe's Companies, Inc. | &nbsp;&nbsp;&nbsp; 11690 |
| 30 | Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp; 3507 |
|  |  | &nbsp;&nbsp; 33508 |
|  | **TRANSPORTATION & LOGISTICS - 0.6%** |  |
| 65 | CH Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp; 6514 |
|  | **TOTAL COMMON STOCKS (Cost $171,707)** | &nbsp;&nbsp; 142904 |
|  | **EXCHANGE-TRADED FUNDS — 86.4%** |  |
|  | **COMMODITY - 4.5%** |  |
| 895 | abrdn Bloomberg All Commodity Strategy K-1 Free | &nbsp;&nbsp;&nbsp; 24326 |
| 1390 | Graniteshares Gold Trust<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 24381 |
|  |  | &nbsp;&nbsp; 48707 |
|  | **EQUITY - 22.6%** |  |
| 1795 | iShares Core Dividend Growth ETF | &nbsp;&nbsp;&nbsp; 93931 |
| 50 | iShares ESG MSCI EM Leaders ETF | &nbsp;&nbsp;&nbsp; 2319 |
| 270 | iShares Global Materials ETF | &nbsp;&nbsp;&nbsp; 22478 |
| 935 | iShares International Dividend Growth ETF | &nbsp;&nbsp;&nbsp; 54641 |
| 640 | iShares MSCI USA Small-Cap Min Vol Factor ETF | &nbsp;&nbsp;&nbsp; 23162 |
| 300 | Utilities Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 21429 |
| 390 | Vanguard Global ex-U.S. Real Estate ETF | &nbsp;&nbsp;&nbsp; 16497 |
| 430 | WisdomTree Emerging Markets Quality Dividend Growth Fund ARS | &nbsp;&nbsp;&nbsp; 9473 |
|  |  | &nbsp;&nbsp; 243930 |
|  | **FIXED INCOME - 59.3%** |  |
| 445 | iShares ESG Aware USD Corporate Bond ETF | &nbsp;&nbsp;&nbsp; 10093 |
| 1615 | iShares MBS ETF | &nbsp;&nbsp;&nbsp; 151794 |
| 2505 | Schwab US TIPS ETF | &nbsp;&nbsp;&nbsp; 133016 |
| 1725 | VanEck J. P. Morgan EM Local Currency Bond ETF | &nbsp;&nbsp;&nbsp; 41814 |
| 985 | Vanguard Emerging Markets Government Bond ETF | &nbsp;&nbsp;&nbsp; 61405 |
| 2035 | Vanguard Intermediate-Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp; 159909 |

---

---

| | | |
|:---|:---|:---|
| **LIFEGOAL HOME DOWN PAYMENT INVESTMENT ETF** | **LIFEGOAL HOME DOWN PAYMENT INVESTMENT ETF** | **LIFEGOAL HOME DOWN PAYMENT INVESTMENT ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 86.4% (Continued)** |  |
|  | **FIXED INCOME - 59.3% (Continued)** |  |
| 1355 | Vanguard Intermediate-Term Treasury ETF | &nbsp;&nbsp;&nbsp; $80135 |
|  |  | &nbsp;&nbsp; 638166 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $969,704)** | &nbsp;&nbsp; 930803 |
|  | **TOTAL INVESTMENTS - 99.7% (Cost $1,141,411)** | &nbsp;&nbsp;&nbsp; $1073707 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 0.3%** | &nbsp;&nbsp; 2926 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $1076633 |

---

---

| | |
|:---|:---|
| ETF | - Exchange-Traded Fund |
| MSCI | - Morgan Stanley Capital International |
| SPDR | - Standard & Poor's Depositary Receipt |

---

<sup>(a)</sup> Non-income producing security.

---

| | | |
|:---|:---|:---|
| **LIFEGOAL CONSERVATIVE WEALTH BUILDER ETF** | **LIFEGOAL CONSERVATIVE WEALTH BUILDER ETF** | **LIFEGOAL CONSERVATIVE WEALTH BUILDER ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 10.5%** |  |
|  | **AEROSPACE & DEFENSE - 0.8%** |  |
| 140 | Boeing Company<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $25043 |
|  | **APPAREL & TEXTILE PRODUCTS - 0.6%** |  |
| 182 | NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp; 19964 |
|  | **ASSET MANAGEMENT - 0.7%** |  |
| 14 | BlackRock, Inc. | &nbsp;&nbsp;&nbsp; 10024 |
| 140 | Blackstone, Inc. | &nbsp;&nbsp;&nbsp; 12814 |
|  |  | &nbsp;&nbsp; 22838 |
|  | **AUTOMOTIVE - 0.2%** |  |
| 280 | Ford Motor Company | &nbsp;&nbsp;&nbsp; 3892 |
| 98 | General Motors Company | &nbsp;&nbsp;&nbsp; 3975 |
|  |  | &nbsp;&nbsp; 7867 |
|  | **BANKING - 0.2%** |  |
| 56 | JPMorgan Chase & Company | &nbsp;&nbsp;&nbsp; 7738 |
|  | **BIOTECH & PHARMA - 0.5%** |  |
| 126 | Merck & Company, Inc. | &nbsp;&nbsp;&nbsp; 13875 |
|  | **CABLE & SATELLITE - 0.1%** |  |
| 112 | Comcast Corporation, Class A | &nbsp;&nbsp;&nbsp; 4104 |
|  | **ENTERTAINMENT CONTENT - 0.2%** |  |
| 70 | Walt Disney Company<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 6851 |
|  | **HOUSEHOLD PRODUCTS - 0.2%** |  |
| 84 | Colgate-Palmolive Company | &nbsp;&nbsp;&nbsp; 6508 |
|  | **INTERNET MEDIA & SERVICES - 0.8%** |  |
| 238 | Alphabet, Inc., Class C<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 24145 |
|  | **LEISURE FACILITIES & SERVICES - 0.4%** |  |
| 112 | Starbucks Corporation | &nbsp;&nbsp;&nbsp; 11446 |

---

---

| | | |
|:---|:---|:---|
| **LIFEGOAL CONSERVATIVE WEALTH BUILDER ETF** | **LIFEGOAL CONSERVATIVE WEALTH BUILDER ETF** | **LIFEGOAL CONSERVATIVE WEALTH BUILDER ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 10.5% (Continued)** |  |
|  | **METALS & MINING - 1.7%** |  |
| 924 | Newmont Corporation | &nbsp;&nbsp;&nbsp; $43862 |
| 84 | Royal Gold, Inc. | &nbsp;&nbsp;&nbsp; 9436 |
|  |  | &nbsp;&nbsp; 53298 |
|  | **OIL & GAS PRODUCERS - 0.9%** |  |
| 196 | Devon Energy Corporation | &nbsp;&nbsp;&nbsp; 13430 |
| 98 | Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp; 14506 |
|  |  | &nbsp;&nbsp; 27936 |
|  | **RETAIL - CONSUMER STAPLES - 1.8%** |  |
| 56 | Target Corporation | &nbsp;&nbsp;&nbsp; 9356 |
| 294 | Walmart, Inc. | &nbsp;&nbsp;&nbsp; 44812 |
|  |  | &nbsp;&nbsp; 54168 |
|  | **SEMICONDUCTORS - 0.2%** |  |
| 42 | Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp; 7578 |
|  | **SOFTWARE - 0.2%** |  |
| 84 | Oracle Corporation | &nbsp;&nbsp;&nbsp; 6975 |
|  | **SPECIALTY FINANCE - 0.3%** |  |
| 84 | Capital One Financial Corporation | &nbsp;&nbsp;&nbsp; 8672 |
|  | **TECHNOLOGY HARDWARE - 0.2%** |  |
| 112 | Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp; 5569 |
|  | **TRANSPORTATION & LOGISTICS - 0.5%** |  |
| 112 | CH Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp; 11225 |
| 14 | FedEx Corporation | &nbsp;&nbsp;&nbsp; 2551 |
|  |  | &nbsp;&nbsp; 13776 |
|  | **TOTAL COMMON STOCKS (Cost $317,249)** | &nbsp;&nbsp; 328351 |
|  | **EXCHANGE-TRADED FUNDS — 89.4%** |  |
|  | **COMMODITY - 3.4%** |  |
| 1694 | abrdn Bloomberg All Commodity Strategy K-1 Free | &nbsp;&nbsp;&nbsp; 46043 |

---

---

| | | |
|:---|:---|:---|
| **LIFEGOAL CONSERVATIVE WEALTH BUILDER ETF** | **LIFEGOAL CONSERVATIVE WEALTH BUILDER ETF** | **LIFEGOAL CONSERVATIVE WEALTH BUILDER ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 89.4% (Continued)** |  |
|  | **COMMODITY - 3.4% (Continued)** |  |
| 3472 | Graniteshares Gold Trust<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $60899 |
|  |  | &nbsp;&nbsp; 106942 |
|  | **EQUITY - 16.7%** |  |
| 2128 | iShares Core Dividend Growth ETF | &nbsp;&nbsp;&nbsp; 111358 |
| 126 | iShares ESG MSCI EM Leaders ETF | &nbsp;&nbsp;&nbsp; 5843 |
| 560 | iShares Global Materials ETF | &nbsp;&nbsp;&nbsp; 46620 |
| 2842 | iShares International Dividend Growth ETF | &nbsp;&nbsp;&nbsp; 166087 |
| 1792 | iShares MSCI USA Small-Cap Min Vol Factor ETF | &nbsp;&nbsp;&nbsp; 64852 |
| 910 | Utilities Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 65001 |
| 1386 | Vanguard Global ex-U.S. Real Estate ETF | &nbsp;&nbsp;&nbsp; 58628 |
|  |  | &nbsp;&nbsp; 518389 |
|  | **FIXED INCOME - 69.3%** |  |
| 1246 | iShares ESG Aware USD Corporate Bond ETF | &nbsp;&nbsp;&nbsp; 28259 |
| 4550 | iShares MBS ETF | &nbsp;&nbsp;&nbsp; 427655 |
| 392 | Schwab Short-Term U.S. Treasury ETF | &nbsp;&nbsp;&nbsp; 18957 |
| 6132 | Schwab US TIPS ETF | &nbsp;&nbsp;&nbsp; 325609 |
| 2744 | SPDR Portfolio High Yield Bond ETF | &nbsp;&nbsp;&nbsp; 63030 |
| 5110 | VanEck J. P. Morgan EM Local Currency Bond ETF | &nbsp;&nbsp;&nbsp; 123866 |
| 3038 | Vanguard Emerging Markets Government Bond ETF | &nbsp;&nbsp;&nbsp; 189389 |
| 3640 | Vanguard Intermediate-Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp; 286031 |
| 6972 | Vanguard Intermediate-Term Treasury ETF | &nbsp;&nbsp;&nbsp; 412324 |
| 3612 | Vanguard Long-Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp; 282567 |
|  |  | &nbsp;&nbsp; 2157687 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $2,851,427)** | &nbsp;&nbsp; 2783018 |
|  | **TOTAL INVESTMENTS - 99.9% (Cost $3,168,676)** | &nbsp;&nbsp;&nbsp; $3111369 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 0.1%** | &nbsp;&nbsp; 3521 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $3114890 |

---

---

| | |
|:---|:---|
| ETF | - Exchange-Traded Fund |
| MSCI | - Morgan Stanley Capital International |
| SPDR | - Standard & Poor's Depositary Receipt |

---

<sup>(a)</sup> Non-income producing security.

---

| | | |
|:---|:---|:---|
| **LIFEGOAL WEALTH BUILDER ETF** | **LIFEGOAL WEALTH BUILDER ETF** | **LIFEGOAL WEALTH BUILDER ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 15.5%** |  |
|  | **AEROSPACE & DEFENSE - 0.9%** |  |
| 297 | Boeing Company<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $53127 |
|  | **APPAREL & TEXTILE PRODUCTS - 0.9%** |  |
| 486 | NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp; 53309 |
|  | **ASSET MANAGEMENT - 1.5%** |  |
| 54 | BlackRock, Inc. | &nbsp;&nbsp;&nbsp; 38664 |
| 531 | Blackstone, Inc. | &nbsp;&nbsp;&nbsp; 48602 |
|  |  | &nbsp;&nbsp; 87266 |
|  | **AUTOMOTIVE - 1.2%** |  |
| 2052 | Ford Motor Company | &nbsp;&nbsp;&nbsp; 28523 |
| 999 | General Motors Company | &nbsp;&nbsp;&nbsp; 40519 |
|  |  | &nbsp;&nbsp; 69042 |
|  | **ENTERTAINMENT CONTENT - 0.5%** |  |
| 276 | Walt Disney Company<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 27012 |
|  | **INTERNET MEDIA & SERVICES – 1.0%** |  |
| 540 | Alphabet, Inc., Class C<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 54783 |
|  | **METALS & MINING - 2.8%** |  |
| 1991 | Newmont Corporation | &nbsp;&nbsp;&nbsp; 94513 |
| 567 | Royal Gold, Inc. | &nbsp;&nbsp;&nbsp; 63691 |
|  |  | &nbsp;&nbsp; 158204 |
|  | **RETAIL - CONSUMER STAPLES - 1.9%** |  |
| 168 | Target Corporation | &nbsp;&nbsp;&nbsp; 28068 |
| 540 | Walmart, Inc. | &nbsp;&nbsp;&nbsp; 82307 |
|  |  | &nbsp;&nbsp; 110375 |
|  | **RETAIL - DISCRETIONARY - 0.9%** |  |
| 162 | Home Depot, Inc. | &nbsp;&nbsp;&nbsp; 52486 |
|  | **SOFTWARE - 1.1%** |  |
| 729 | Oracle Corporation | &nbsp;&nbsp;&nbsp; 60529 |

---

---

| | | |
|:---|:---|:---|
| **LIFEGOAL WEALTH BUILDER ETF** | **LIFEGOAL WEALTH BUILDER ETF** | **LIFEGOAL WEALTH BUILDER ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 15.5% (Continued)** |  |
|  | **SPECIALTY FINANCE - 0.5%** |  |
| 257 | Capital One Financial Corporation | &nbsp;&nbsp;&nbsp; $26533 |
|  | **TECHNOLOGY HARDWARE - 0.6%** |  |
| 732 | Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp; 36395 |
|  | **TELECOMMUNICATIONS - 0.9%** |  |
| 1323 | Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp; 51571 |
|  | **TRANSPORTATION & LOGISTICS - 0.8%** |  |
| 459 | CH Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp; 46001 |
|  | **TOTAL COMMON STOCKS (Cost $858,063)** | &nbsp;&nbsp; 886633 |
|  | **EXCHANGE-TRADED FUNDS — 84.4%** |  |
|  | **COMMODITY - 3.8%** |  |
| 4158 | abrdn Bloomberg All Commodity Strategy K-1 Free | &nbsp;&nbsp;&nbsp; 113014 |
| 5913 | Graniteshares Gold Trust<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 103714 |
|  |  | &nbsp;&nbsp; 216728 |
|  | **EQUITY - 41.5%** |  |
| 12987 | iShares Core Dividend Growth ETF | &nbsp;&nbsp;&nbsp; 679611 |
| 1215 | iShares Global Materials ETF | &nbsp;&nbsp;&nbsp; 101149 |
| 7317 | iShares International Dividend Growth ETF | &nbsp;&nbsp;&nbsp; 427605 |
| 9942 | JPMorgan Equity Premium Income ETF | &nbsp;&nbsp;&nbsp; 564507 |
| 2214 | Utilities Select Sector SPDR Fund | &nbsp;&nbsp;&nbsp; 158146 |
| 2862 | Vanguard Global ex-U.S. Real Estate ETF | &nbsp;&nbsp;&nbsp; 121063 |
| 1215 | Vanguard Real Estate ETF | &nbsp;&nbsp;&nbsp; 107017 |
| 10071 | WisdomTree Emerging Markets Quality Dividend Growth Fund | &nbsp;&nbsp;&nbsp; 221864 |
|  |  | &nbsp;&nbsp; 2380962 |
|  | **FIXED INCOME - 39.1%** |  |
| 3619 | iShares MBS ETF | &nbsp;&nbsp;&nbsp; 340150 |
| 7610 | Schwab US TIPS ETF | &nbsp;&nbsp;&nbsp; 404091 |
| 14256 | VanEck J. P. Morgan EM Local Currency Bond ETF | &nbsp;&nbsp;&nbsp; 345565 |

---

---

| | | |
|:---|:---|:---|
| **LIFEGOAL WEALTH BUILDER ETF** | **LIFEGOAL WEALTH BUILDER ETF** | **LIFEGOAL WEALTH BUILDER ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **November 30, 2022** | **November 30, 2022** | **November 30, 2022** |
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 84.4% (Continued)** |  |
|  | **FIXED INCOME - 39.2% (Continued)** |  |
| 6399 | Vanguard Emerging Markets Government Bond ETF | &nbsp;&nbsp;&nbsp; $398914 |
| 9697 | Vanguard Long-Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp; 758596 |
|  |  | &nbsp;&nbsp; 2247316 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $4,788,818)** | &nbsp;&nbsp; 4845006 |
|  | **TOTAL INVESTMENTS - 99.9% (Cost $5,646,881)** | &nbsp;&nbsp;&nbsp; $5731639 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 0.1%** | &nbsp;&nbsp; 7059 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $5738698 |

---

ETF - Exchange-Traded Fund <br> SPDR - Standard & Poor's Depositary Receipt <br>

<sup>(a)</sup> Non-income producing security.

## 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:** LifeGoal Home Down Payment Investment ETF

- **b. EDGAR series identifier (if any):** S000072349

- **c. LEI of Series:** 54930021TU2DZ4G58O90

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

- **a. Date of fiscal year-end:** 2023-08-31

- **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:** $1115044.45

**Total Liabilities:** $38411.10

**Net Assets:** $1076633.35

**Cash Not Reported:** $41180.90

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000228500 | -5.92%               | 1.53%                | 5.84%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-15303.44               | $-64113.77                                 |
| Month 2  | $-7136.32                | $23075.15                                  |
| Month 3  | $-37020.10               | $103647.96                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Abrdn Etfs                                | ABRDN BLOOMBERG           | CUSIP: 003261104<br>LEI: 54930044UD4VERB62W69 | Long             | EC               | RF                | US        |       895 | NS      | $24326.10     | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Company, Inc.                        | TREX CO INC               | CUSIP: 89531P105<br>LEI: 549300ER482WJT9UUX16 | Long             | EC               | CORP              | US        |       160 | NS      | $7342.40      | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Scottsdal                        | VANGUARD INT-TERM CORPORA | CUSIP: 92206C870<br>LEI: 549300Y88GQ3VLJIBX57 | Long             | EC               | RF                | US        |      2035 | NS      | $159910.30    | 14.85%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Scottsdal                        | VANGUARD INTERMEDIATE-TER | CUSIP: 92206C706<br>LEI: 549300Y88GQ3VLJIBX57 | Long             | EC               | RF                | US        |      1355 | NS      | $80134.70     | 7.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker, Inc.              | STANLEY BLACK &           | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |        30 | NS      | $2451.60      | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Wisdomtree Trust                          | WISDOMTREE EMERGING MARKE | CUSIP: 97717W323<br>LEI: 549300SEVJBU47TE8855 | Long             | EC               | RF                | US        |       430 | NS      | $9472.90      | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Trust                             | ISHARES MSCI USA          | CUSIP: 46435G433<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |       640 | NS      | $23161.60     | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| The Sherwin-Williams Company              | SHERWIN-WILLIAMS          | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |        20 | NS      | $4983.60      | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowes Companies, Inc.                     | LOWE'S COS INC            | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |        55 | NS      | $11690.25     | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor And Decor Holding Incorporation     | FLOOR & DECOR HOLDINGS IN | CUSIP: 339750101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        50 | NS      | $3731.50      | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| D.R. Horton, Inc.                         | DR HORTON INC             | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |        95 | NS      | $8170.00      | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Graniteshares Gold Trust                  | GRANITESHARES GOLD TRUST  | CUSIP: 38748G101<br>LEI: 549300B09UIFB1TCF016 | Long             | EC               | RF                | US        |      1390 | NS      | $24380.60     | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard International Equity Index Funds | VANGUARD GLBL EX-US REAL  | CUSIP: 922042676<br>LEI: 549300UR5XWDVDO7NP96 | Long             | EC               | RF                | US        |       390 | NS      | $16497.00     | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Trust                             | ISHARES INTL DIV          | CUSIP: 46435G524<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |       935 | NS      | $54641.40     | 5.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc                            | HOME DEPOT INC            | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |        45 | NS      | $14579.55     | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Whitehall Funds                  | VANGUARD EMERG MKTS GOV B | CUSIP: 921946885<br>LEI: 5493006QD7VQBS2FQD13 | Long             | EC               | RF                | US        |       985 | NS      | $61404.90     | 5.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Incorporation             | WILLIAMS-SONOMA           | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |        30 | NS      | $3507.00      | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                            | BLACKSTONE INC            | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |        85 | NS      | $7780.05      | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation                       | NEWMONT CORP              | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |       325 | NS      | $15427.75     | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Trust                             | ISHARES CORE DIVIDEND GRO | CUSIP: 46434V621<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      1795 | NS      | $93932.35     | 8.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Trust                             | ISHARES ESG AWAR          | CUSIP: 46435G193<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |       445 | NS      | $10092.60     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                             | OWENS CORNING             | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |        95 | NS      | $8439.80      | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| C.H. Robinson Worldwide Inc               | CH ROBINSON               | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |        65 | NS      | $6514.30      | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                               | WALMART INC               | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |        75 | NS      | $11431.50     | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Pulte Group Inc                           | PULTEGROUP INC            | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       135 | NS      | $6045.30      | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Trust                             | I/S ESG MSCI EM           | CUSIP: 46436E601<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |        50 | NS      | $2318.50      | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Strategic Trust                    | SCHWAB U.S. TIPS ETF      | CUSIP: 808524870<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |      2505 | NS      | $133015.50    | 12.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers, Inc.                       | TOLL BROTHERS             | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |       170 | NS      | $8144.70      | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                          | VANECK J. P. MOR          | CUSIP: 92189H300<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |      1725 | NS      | $41814.00     | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corporation                        | LENNAR CORP - B SHS       | CUSIP: 526057302<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |       115 | NS      | $8350.15      | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Trust                             | ISHARES GLOBAL MATERIALS  | CUSIP: 464288695<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |       270 | NS      | $22477.50     | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corporation                     | WHIRLPOOL CORP            | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |        20 | NS      | $2930.60      | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Masco Corporation                         | MASCO CORP                | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |       150 | NS      | $7617.00      | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corporation                | CARRIER GLOB              | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |        85 | NS      | $3767.20      | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Trust                             | ISHARES MBS ETF           | CUSIP: 464288588<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      1615 | NS      | $151793.85    | 14.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr                        | UTILITIES SELECT SECTOR S | CUSIP: 81369Y886<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |       300 | NS      | $21429.00     | 1.99%             |  |  |  | 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