Northern Lights Fund Trust Ii NPORT-P Beacon Tactical Risk ETF (May 2023 report)

BEACON TACTICAL RISK ETF
SCHEDULE OF INVESTMENTS (Unaudited)
May 31, 2023
Shares		Fair Value
	EXCHANGE-TRADED FUND — 99.7%
	FIXED INCOME - 99.7%
94,830	Vanguard Short-Term Bond ETF	$ 7,220,356
	TOTAL EXCHANGE-TRADED FUND (Cost $7,245,339)	7,220,356
	TOTAL INVESTMENTS – 99.7% (Cost $7,245,339)	$ 7,220,356
	OTHER ASSETS IN EXCESS OF LIABILITIES - 0.3%	18,310
	NET ASSETS - 100.0%	$ 7,238,666

ETF  - Exchange-Traded Fund