# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001145549-25-053066
**Filing Date:** 2025-8
**Character Count:** 9864
**Document Hash:** a01f021bf0e071af43b2b9716822414f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-053066.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001145549-25-053066

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investment Managers Series Trust II
- **CENTRAL INDEX KEY:** 0001587982

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22894
- **FILM NUMBER:** 251249193

**BUSINESS ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 414-299-2295

**MAIL ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

## Series and Classes Contracts Data

### AXS Income Opportunities Fund (Series ID: S000075333)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234278 | Class I      | OIOIX           |
| C000234280 | Class D      | OIODX           |

## Nport-Ex

#### AXS Income Opportunities Fund

#### SCHEDULE OF INVESTMENTS

#### As of June 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **EXCHANGE-TRADED FUNDS — 100.5%** |  |
| 212737 | Global X Variable Rate Preferred ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4850403 |
| 99000 | iShares Core U.S. REIT ETF<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5599440 |
| 68290 | iShares Residential and Multisector Real Estate ETF<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5622998 |
| 83964 | Janus Henderson AAA CLO ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4261173 |
| 227778 | Principal Spectrum Preferred Securities Active ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4320949 |
| 20453 | SPDR Bloomberg 1-3 Month T-Bill ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1876154 |
| 493198 | VanEck Mortgage REIT Income ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5208171 |
| 111610 | Virtus InfraCap U.S. Preferred Stock ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2324836 |
|  | **TOTAL EXCHANGE-TRADED FUNDS** |  |
|  | (Cost $34,996,573) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**34064124** |
|  | **SHORT-TERM INVESTMENTS — 1.9%** |  |
| 651427 | Goldman Sachs Financial Square Government Fund - Institutional Shares, 4.21%<sup>1,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**651427** |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | (Cost $651,427) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**651427** |
|  | **TOTAL INVESTMENTS — 102.4%** |  |
|  | (Cost $35,648,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**34715551** |
|  | Liabilities in Excess of Other Assets — (2.4)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(802861) |
|  | **TOTAL NET ASSETS — 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$33912690** |

---

ETF – Exchange-Traded Fund <br> REIT – Real Estate Investment Trusts

---

| |
|:---|
| <sup>1</sup>All or a portion of the security is segregated as collateral for line of credit borrowings. As of June 30, 2025, the aggregate value of those securities was $7,406,411, representing 21.8% of net assets. |
| <sup>2</sup>The rate is the annualized seven-day yield at period end. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** INVESTMENT MANAGERS SERIES TRUST II

- **b. Investment Company Act file number:** 811-22894

- **c. CIK number of Registrant:** 0001587982

- **d. LEI of Registrant:** 549300SU7ER9OFETRU41

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 235 WEST GALENA STREET

  - **City:** MILWAUKEE

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 532123948

  - **Telephone number:** 4142992000

**Item A.2. Information about the Series.**

- **a. Name of Series:** AXS Income Opportunities Fund

- **b. EDGAR series identifier (if any):** S000075333

- **c. LEI of Series:** 549300QQGKEJTVB7IH18

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $34754512.62

**Total Liabilities:** $841822.95

**Net Assets:** $33912689.67

**Cash Not Reported:** $531126.89

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234278 | -2.66%               | 0.33%                | 0.78%                |
| Class ID C000234280 | -2.74%               | 0.20%                | 0.66%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-83161.53               | $-1313783.34                               |
| Month 2  | $-286552.93              | $343364.46                                 |
| Month 3  | $-119761.96              | $242062.96                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SPDR Bloomberg 1-3 Month T-Bil | SPDR Bloomberg 1-3 Month T-Bill ETF - Class USD INC                          | CUSIP: 78468R663<br>LEI: 549300GQCVCME1YJ6B50 | Long             |  | RF                | US        |     20453 | NS      | $1876153.69   | 5.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financial Square | Goldman Sachs Financial Square Government Fund - Class Institutional USD INC | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |    121726 | PA      | $121725.68    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson AAA CLO ETF    | Janus Henderson AAA CLO ETF - Class USD INC                                  | CUSIP: 47103U845<br>LEI: 549300N7UZ9PO4OVKA94 | Long             |  | RF                | US        |     83964 | NS      | $4261173.00   | 12.57%            |  |  |  | No            |                  1 | On Loan: No      |
| VanEck Mortgage REIT Income ET | VanEck Mortgage REIT Income ETF - Class USD INC                              | CUSIP: 92189F452<br>LEI: 54930027HZP6Q1ONAO98 | Long             |  | RF                | US        |    493198 | NS      | $5208170.88   | 15.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Virtus InfraCap US Preferred S | Virtus InfraCap U.S. Preferred Stock ETF - Class U.S.D INC                   | CUSIP: 26923G822<br>LEI: 549300MWBLUUH494LE10 | Long             |  | RF                | US        |    111610 | NS      | $2324836.30   | 6.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Variable Rate Preferr | Global X Variable Rate Preferred ETF - Class USD INC                         | CUSIP: 37954Y376<br>LEI: 549300KBIRQLDG81U263 | Long             |  | RF                | US        |    212737 | NS      | $4850403.60   | 14.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Principal Spectrum Preferred S | Principal Spectrum Preferred Securities Active ETF                           | CUSIP: 74255Y888<br>LEI: 549300ZZZ8ISR58H5107 | Long             |  | RF                | US        |    227778 | NS      | $4320948.66   | 12.74%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Residential and Multis | iShares Residential and Multisector Real Estate ETF - Class USD INC          | CUSIP: 464288562<br>LEI: 5493004WBOUA72JP1U19 | Long             |  | RF                | US        |     68290 | NS      | $5622998.60   | 16.58%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core U.S. REIT ETF     | iShares Core U.S. REIT ETF - Class USD INC                                   | CUSIP: 464288521<br>LEI: N/A                  | Long             |  | RF                | US        |     99000 | NS      | $5599440.00   | 16.51%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-10

**Name of Applicant:** INVESTMENT MANAGERS SERIES TRUST II

**Signature:** /s/ Scott Schulenburg

**Name of Signer:** Scott Schulenburg

**Title:** President