NSIRX — North Star Opportunity Fund
Data updated: 2026-07-28
NSIRX — North Star Opportunity Fund. United States Large Cap Blend / Core Equity · $148.08M AUM. Holdings, fees, performance and SEC filings.
NSIRX Fund Overview
NSIRX — North Star Opportunity Fund is a US mutual fund managed by Northern Lights Fund Trust II, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Northern Lights Fund Trust II
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $148.08M
- Ticker: NSIRX
- SEC CIK: 0001518042
- SEC series ID: S000034503
- Share class ID: C000158527
NSIRX Investment Objective and Strategy
North Star Opportunity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Northern Lights Fund Trust II.
Investment objective
The investment objective of the North Star Opportunity Fund (the ?Opportunity Fund?) is long-term capital appreciation.
Principal investment strategy
The Adviser is responsible for developing, constructing and monitoring the asset allocation and portfolio strategy for the Opportunity Fund. The Adviser intends to use a ?best ideas? investment strategy, as described below, coupled with market and industry risk management through limiting position sizes and maintaining low levels of concentration within any particular industry. The Opportunity Fund may invest in long positions in publicly traded or private equities of any market capitalization, primarily common stock and American Depositary Receipts (?ADRs?), as well as preferred stock and certain convertible securities. The universe of investible securities is considered ?micro to macro?, from small and micro-cap companies to the largest global corporations. In general, the Opportunity Fund intends to invest within a potentially wide range of net exposures, meaning that normally it expects to invest approximately 80 - 100% of its net assets in net long positions in securities that it deems to be underpriced.
Target position sizes will range from 0% to 5% of the Opportunity Fund?s net assets, for individual stocks and up to 25% for macroeconomic themes. The Opportunity Fund?s investment ?best ideas? strategy consists, to a significant degree, of seeking companies with a high free cash flow and attractive enterprise value relative to Earnings Before Interest Tax Depreciation and Amortization (?EBITDA?); event driven special opportunities and short term trading opportunities. By ?enterprise value,? the Adviser means the market value of a company plus the value of such company?s outstanding debt. The Opportunity Fund?s capital will be dedicated to opportunistic trading situations based on its view of a particular company, market or security, which may result in a high frequency of transactions. In addition, the Opportunity Fund intends to invest in fixed income securities, with a focus on corporate and U.S.
government bonds, notes and debentures and convertible debt. The Opportunity Fund may invest in fixed income securities that are investment grade (i.e., rated at the time of purchase in one of the four highest categories by a nationally recognized statistical rating organization, or determined by the portfolio manager to be of comparable quality) as well as those that are below investment grade, which are commonly referred to as ?high yield? or ?junk? bonds? without limitation. When market conditions or other considerations justify, the Opportunity Fund may also devote a substantial amount of its capital to cash, cash equivalents or short-term obligations of the U.S. government, its agencies and instrumentalities.
NSIRX Holdings
Top 10 holdings of North Star Opportunity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Advanced Micro Devices, Inc. | 4.88% |
| Qualcomm, Inc. | 4.07% |
| Alphabet, Inc. | 3.98% |
| Amazon.com, Inc. | 3.66% |
| Apple, Inc. | 3.65% |
| Bank Of America Corp. | 3.22% |
| Madison Square Garden Entertainment Corp. | 3.14% |
| Jp Morgan Chase & Company | 3.03% |
| Blackstone, Inc. | 3.00% |
| Sphere Entertainment Company | 2.88% |
NSIRX Portfolio Allocation
Asset-class allocation of North Star Opportunity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 76.1% |
| Fixed Income | 22.4% |
| Cash & Equivalents | 1.3% |
NSIRX Performance
Total returns for NSIRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 9.9% |
| 1 year | 30.3% |
| 3 years (annualised) | 15.2% |
| 5 years (annualised) | 5.3% |
NSIRX Risk Information
Risk metrics for NSIRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 10.7%
NSIRX Costs and Fees
NSIRX costs about $156 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.56%
- Gross expense ratio: 1.63%
- Portfolio turnover: 25%
- Brokerage commissions: 1.92 bps of average net assets (SEC N-CEN)
NSIRX Cashflows
Over the 12 months to 2026-05, North Star Opportunity Fund had net outflows of $1.86M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | $674.65K |
| 2026-04 | −$831.85K |
| 2026-03 | −$689.45K |
| 2026-02 | −$64.84K |
| 2026-01 | −$820.10K |
| 2025-12 | $4.27M |
NSIRX Debt Constituents
Largest debt holdings of North Star Opportunity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Of America - Bureau Of The Public Debt | 1.35% |
| United States Of America - Bureau Of The Public Debt | 1.33% |
| Embecta Corp. | 1.00% |
| Acco Brands Corp. | 0.93% |
| Carriage Services, Inc. | 0.91% |
| Ezcorp, Inc. | 0.90% |
| Beazer Homes USA, Inc. | 0.88% |
| Brundage-Bone Concrete Pumping Holding, Inc. | 0.87% |
| Hni Corp. | 0.86% |
| Compass Minerals International, Inc. | 0.86% |
NSIRX Prospectus and SEC Filings
Official North Star Opportunity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-03-27
- Prospectus (485BPOS) — filed 2024-03-28
- Prospectus supplement (497) — filed 2025-04-04
- Portfolio holdings (N-PORT) — filed 2026-07-28
- Portfolio holdings (N-PORT) — filed 2026-04-27
- Portfolio holdings (N-PORT) — filed 2026-01-26
- Annual census (N-CEN) — filed 2026-02-09
- Annual census (N-CEN) — filed 2025-02-10
Related Funds
Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.