# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001193125-26-066629
**Filing Date:** 2026-2
**Character Count:** 66137
**Document Hash:** 6a1a57a9d3770f12c312e2161d2aae5d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-066629.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001193125-26-066629

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**PERIOD START**: 20260930

**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:** 26670716

**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 FTSE Venture Capital Return Tracker Fund (Series ID: S000069733)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000222489 | Class C Shares | LDVCX           |
| C000222490 | Class I Shares | LDVIX           |
| C000222491 | Class A Shares | LDVAX           |

## Nport-Ex

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS — 100.8%** |  |
|  | **AEROSPACE/DEFENSE — 1.6%** |  |
| 1787 | Boeing Co.\* | $387994 |
| 2231 | General Electric Co. | 687215 |
| 2781 | RTX Corp. | 510035 |
|  |  | **1585244** |
|  | **AGRICULTURE — 0.3%** |  |
| 1715 | Altria Group, Inc. | 98887 |
| 1439 | Philip Morris International, Inc. | 230815 |
|  |  | **329702** |
|  | **AUTO MANUFACTURERS — 0.1%** |  |
| 217 | Tesla, Inc.\* | **97589** |
|  | **BANKS — 2.0%** |  |
| 6147 | Bank of America Corp. | 338085 |
| 1583 | Citigroup, Inc. | 184720 |
| 272 | Goldman Sachs Group, Inc. | 239088 |
| 2475 | JPMorgan Chase & Co. | 797494 |
| 1101 | Morgan Stanley | 195461 |
| 2723 | Wells Fargo & Co. | 253784 |
|  |  | **2008632** |
|  | **BEVERAGES — 0.6%** |  |
| 4238 | Coca-Cola Co. | 296279 |
| 762 | Monster Beverage Corp.\* | 58423 |
| 1397 | PepsiCo, Inc. | 200497 |
|  |  | **555199** |
|  | **BIOTECHNOLOGY — 0.1%** |  |
| 115 | Amgen, Inc. | 37641 |
| 839 | Corteva, Inc. | 56238 |
|  |  | **93879** |
|  | **BUILDING MATERIALS — 0.1%** |  |
| 79 | Martin Marietta Materials, Inc. | 49190 |
| 146 | Vulcan Materials Co. | 41642 |
|  |  | **90832** |
|  | **CHEMICALS — 0.5%** |  |
| 262 | Air Products and Chemicals, Inc. | 64719 |
| 342 | Ecolab, Inc. | 89782 |
| 635 | Linde PLC<sup>1</sup> | 270758 |
| 312 | Sherwin-Williams Co. | 101097 |
|  |  | **526356** |

---

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **COMMERCIAL SERVICES — 1.8%** |  |
| 5608 | Automatic Data Processing, Inc.<sup>2</sup> | $1442546 |
| 714 | S&P Global, Inc. | 373129 |
|  |  | **1815675** |
|  | **COMPUTERS — 9.6%** |  |
| 8623 | Accenture PLC - Class A<sup>1</sup> | 2313551 |
| 4110 | Apple, Inc.<sup>2</sup> | 1117344 |
| 3516 | Crowdstrike Holdings, Inc. - Class A\*<sup>,2</sup> | 1648160 |
| 8587 | Fortinet, Inc.\*<sup>,2</sup> | 681894 |
| 12896 | International Business Machines Corp.<sup>2</sup> | 3819924 |
|  |  | **9580873** |
|  | **COSMETICS/PERSONAL CARE — 0.4%** |  |
| 825 | Colgate-Palmolive Co. | 65191 |
| 2389 | Procter & Gamble Co. | 342368 |
|  |  | **407559** |
|  | **DISTRIBUTION/WHOLESALE — 0.5%** |  |
| 13238 | Copart, Inc.\* | **518268** |
|  | **DIVERSIFIED FINANCIAL SERVICES — 6.9%** |  |
| 501 | American Express Co. | 185345 |
| 3156 | Coinbase Global, Inc. - Class A\* | 713698 |
| 8252 | Mastercard, Inc. - Class A<sup>2</sup> | 4710902 |
| 3750 | Visa, Inc. - Class A<sup>2</sup> | 1315162 |
|  |  | **6925107** |
|  | **ELECTRIC — 0.0%** |  |
| 28 | Constellation Energy Corp. | 9892 |
| 198 | NextEra Energy, Inc. | 15895 |
|  |  | **25787** |
|  | **ELECTRICAL COMPONENTS & EQUIPMENT — 0.3%** |  |
| 910 | Eaton Corp. PLC<sup>1</sup> | **289844** |
|  | **ELECTRONICS — 0.3%** |  |
| 1484 | Honeywell International, Inc. | **289514** |
|  | **FOOD — 0.1%** |  |
| 1243 | Mondelez International, Inc. - Class A | **66911** |
|  | **HEALTHCARE-PRODUCTS — 3.9%** |  |
| 4627 | Abbott Laboratories | 579717 |
| 736 | Agilent Technologies, Inc. | 100147 |
| 3661 | Boston Scientific Corp.\* | 349076 |

---

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **HEALTHCARE-PRODUCTS (Continued)** |  |
| 1926 | Danaher Corp. | $440900 |
| 1524 | Edwards Lifesciences Corp.\* | 129921 |
| 1185 | GE HealthCare Technologies, Inc. | 97194 |
| 203 | IDEXX Laboratories, Inc.\* | 137336 |
| 953 | Intuitive Surgical, Inc.\* | 539741 |
| 3410 | Medtronic PLC<sup>1</sup> | 327565 |
| 326 | Natera, Inc.\* | 74683 |
| 371 | ResMed, Inc. | 89363 |
| 253 | STERIS PLC<sup>1</sup> | 64140 |
| 1028 | Stryker Corp. | 361311 |
| 1075 | Thermo Fisher Scientific, Inc. | 622909 |
|  |  | **3914003** |
|  | **HEALTHCARE-SERVICES — 1.7%** |  |
| 751 | Cigna Group | 206698 |
| 599 | Elevance Health, Inc. | 209979 |
| 681 | HCA Healthcare, Inc. | 317932 |
| 312 | Humana, Inc. | 79912 |
| 216 | Labcorp Holdings, Inc. | 54190 |
| 2408 | UnitedHealth Group, Inc.<sup>2</sup> | 794905 |
|  |  | **1663616** |
|  | **HOUSEHOLD PRODUCTS/WARES — 0.0%** |  |
| 327 | Kimberly-Clark Corp. | **32991** |
|  | **INSURANCE — 2.1%** |  |
| 4083 | Berkshire Hathaway, Inc. - Class B\*<sup>,2</sup> | **2052320** |
|  | **INTERNET — 26.8%** |  |
| 6435 | Airbnb, Inc. - Class A\* | 873358 |
| 14189 | Alphabet, Inc. - Class A<sup>2</sup> | 4441157 |
| 731 | Amazon.com, Inc.\* | 168729 |
| 4512 | AppLovin Corp. - Class A\* | 3040276 |
| 5438 | DoorDash, Inc. - Class A\* | 1231598 |
| 719 | MercadoLibre, Inc.\* | 1448253 |
| 7011 | Meta Platforms, Inc. - Class A<sup>2</sup> | 4627891 |
| 42229 | Netflix, Inc.\*<sup>,2</sup> | 3959391 |
| 9482 | Palo Alto Networks, Inc.\*<sup>,2</sup> | 1746584 |
| 11480 | Robinhood Markets, Inc. - Class A\* | 1298388 |
| 2564 | Spotify Technology S.A.\*<sup>,1</sup> | 1488941 |
| 29214 | Uber Technologies, Inc.\*<sup>,2</sup> | 2387076 |
|  |  | **26711642** |
|  | **IRON/STEEL — 0.0%** |  |
| 243 | Nucor Corp. | **39636** |

---

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **MACHINERY-CONSTRUCTION & MINING — 0.6%** |  |
| 1034 | Caterpillar, Inc. | $592347 |
| 26 | GE Vernova, Inc. | 16993 |
|  |  | **609340** |
|  | **MEDIA — 0.1%** |  |
| 48 | Charter Communications, Inc. - Class A\* | 10020 |
| 2121 | Comcast Corp. - Class A | 63397 |
|  |  | **73417** |
|  | **MINING — 0.2%** |  |
| 1946 | Freeport-McMoRan, Inc. | 98837 |
| 1341 | Newmont Corp. | 133899 |
|  |  | **232736** |
|  | **OIL & GAS — 0.8%** |  |
| 1375 | Chevron Corp. | 209564 |
| 829 | ConocoPhillips | 77603 |
| 320 | EOG Resources, Inc. | 33603 |
| 2829 | Exxon Mobil Corp. | 340442 |
| 195 | Marathon Petroleum Corp. | 31713 |
| 262 | Phillips 66 | 33808 |
| 199 | Valero Energy Corp. | 32395 |
|  |  | **759128** |
|  | **OIL & GAS SERVICES — 0.0%** |  |
| 933 | SLB Ltd.<sup>1</sup> | **35809** |
|  | **PHARMACEUTICALS — 1.1%** |  |
| 377 | AbbVie, Inc. | 86141 |
| 699 | Becton Dickinson & Co. | 135655 |
| 497 | Cencora, Inc. | 167862 |
| 3174 | CVS Health Corp. | 251889 |
| 1006 | Dexcom, Inc.\* | 66768 |
| 181 | Eli Lilly & Co. | 194517 |
| 514 | Johnson & Johnson | 106372 |
| 527 | Merck & Co., Inc. | 55472 |
|  |  | **1064676** |
|  | **PIPELINES — 0.1%** |  |
| 1284 | Kinder Morgan, Inc. | 35297 |
| 801 | Williams Cos., Inc. | 48148 |
|  |  | **83445** |
|  | **RETAIL — 0.6%** |  |
| 31 | Costco Wholesale Corp. | 26733 |

---

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **RETAIL (Continued)** |  |
| 73 | Home Depot, Inc. | $25119 |
| 4787 | Walmart, Inc. | 533320 |
|  |  | **585172** |
|  | **SEMICONDUCTORS — 2.1%** |  |
| 420 | Advanced Micro Devices, Inc.\* | 89947 |
| 204 | Applied Materials, Inc. | 52426 |
| 1293 | Broadcom, Inc. | 447508 |
| 1237 | Intel Corp.\* | 45645 |
| 322 | Lam Research Corp. | 55120 |
| 269 | Micron Technology, Inc. | 76775 |
| 6730 | NVIDIA Corp. | 1255145 |
| 272 | QUALCOMM, Inc. | 46526 |
|  |  | **2069092** |
|  | **SOFTWARE — 34.8%** |  |
| 5795 | Adobe, Inc.\*<sup>,2</sup> | 2028192 |
| 2949 | Autodesk, Inc.\*<sup>,2</sup> | 872933 |
| 3772 | Cadence Design Systems, Inc.\*<sup>,2</sup> | 1179052 |
| 3558 | Cloudflare, Inc. - Class A\* | 701460 |
| 5138 | CoreWeave, Inc. - Class A\* | 367932 |
| 4795 | Datadog, Inc. - Class A\* | 652072 |
| 3000 | Electronic Arts, Inc. | 612990 |
| 320 | Fair Isaac Corp.\* | 540998 |
| 3906 | Intuit, Inc.<sup>2</sup> | 2587413 |
| 9234 | Microsoft Corp.<sup>2</sup> | 4465747 |
| 22496 | Oracle Corp.<sup>2</sup> | 4384695 |
| 26970 | Palantir Technologies, Inc. - Class A\* | 4793918 |
| 8930 | ROBLOX Corp. - Class A\* | 723598 |
| 1490 | Roper Technologies, Inc.<sup>2</sup> | 663244 |
| 13336 | Salesforce, Inc.<sup>2</sup> | 3532840 |
| 14570 | ServiceNow, Inc.\*<sup>,2</sup> | 2231978 |
| 5137 | Snowflake, Inc.\*<sup>,2</sup> | 1126852 |
| 3875 | Strategy, Inc.\* | 588806 |
| 2816 | Synopsys, Inc.\*<sup>,2</sup> | 1322732 |
| 2341 | Take-Two Interactive Software, Inc.\* | 599366 |
| 426 | Veeva Systems, Inc. - Class A\* | 95096 |
| 3040 | Workday, Inc. - Class A\*<sup>,2</sup> | 652931 |
|  |  | **34724845** |
|  | **TELECOMMUNICATIONS — 0.4%** |  |
| 143 | AST SpaceMobile, Inc. - Class A\* | 10386 |
| 3934 | AT&T, Inc. | 97720 |
| 1023 | Cisco Systems, Inc. | 78802 |
| 73 | EchoStar Corp. - Class A\* | 7935 |

---

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **TELECOMMUNICATIONS (Continued)** |  |
| 133 | Frontier Communications Parent, Inc.\* | $5063 |
| 466 | Lumen Technologies, Inc.\* | 3621 |
| 62 | Millicom International Cellular S.A.<sup>1</sup> | 3437 |
| 346 | T-Mobile US, Inc. | 70252 |
| 2320 | Verizon Communications, Inc. | 94494 |
|  |  | **371710** |
|  | **TRANSPORTATION — 0.3%** |  |
| 1386 | Union Pacific Corp. | **320610** |
|  | **TOTAL COMMON STOCKS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $70,363,551) | **100551159** |

---

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  |  |
|  | **SHORT-TERM INVESTMENTS — 0.1%** |  |
| $47009 | UMB Bank, Institutional Banking Money Market II Deposit Investment, 3.06%<sup>3</sup> | **47009** |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $47,009) | **47009** |
|  | **TOTAL INVESTMENTS — 100.9%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $70,410,560) | **100598168** |
|  | Liabilities in Excess of Other Assets — (0.9)% | (866997) |
|  | **TOTAL NET ASSETS — 100.0%** | $**99731171** |

---

PLC – Public Limited Company

\* Non-income producing security.

<sup>1</sup> Foreign security denominated in U.S. Dollars.

<sup>2</sup> All or a portion of this security is segregated as collateral for swap agreement. As of December 31, 2025, the aggregate value of those securities was $28,523,383, representing 28.6% of net assets.

<sup>3</sup> The rate is the annualized seven-day yield at period end.

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

**SWAP CONTRACTS**

**EQUITY SWAP CONTRACTS**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | | Premium | Unrealized |
|  |  |  |  | Pay/Receive | Termination | Notional | Paid | Appreciation |
| Counterparty | Reference Entity | Fund Pays | Fund Receives | Frequency | Date | Amount | (Received) | (Depreciation) |
| BNP Paribas | BNP Paribas Index Swap<sup>1</sup> | 0.50% | Index Return | Monthly | 1/2/26 | $101405804 | $563 | $(304616) |
| BNP Paribas | BNP Paribas Equity Basket Swap<sup>2</sup> | 1-Month Federal Funds + 0.85% | Basket Return | Monthly | 1/2/26 | 31552342 | 1164 | (121132) |
| **TOTAL EQUITY SWAP CONTRACTS** | **TOTAL EQUITY SWAP CONTRACTS** |  |  |  |  |  |  | $**(425748)** |

---

<sup>1</sup> The BNP Paribas Index Swap is made up of the NASDAQ 100 Total Return Index and the S&P 500 Total Return Index and exposure to each index was 33.15% and (33.15)%, respectively.

<sup>2</sup> BNP Paribas Equity Basket Swap Top 50 Holdings^

---

| | | | |
|:---|:---|:---|:---|
| Number of |  |  | Percentage of Equity |
| Shares | Description | Value | Swap's Notional Amount |
| 8492 | Palantir Technologies, Inc. - Class A | $1509453 | 4.78% |
| 2598 | Mastercard, Inc. - Class A | 1483146 | 4.70% |
| 2208 | Meta Platforms, Inc. - Class A | 1457479 | 4.62% |
| 2907 | Microsoft Corp. | 1405883 | 4.46% |
| 4468 | Alphabet, Inc. - Class A | 1398484 | 4.43% |
| 7083 | Oracle Corp. | 1380548 | 4.38% |
| 13296 | Netflix, Inc. | 1246633 | 3.95% |
| 4060 | International Business Machines Corp. | 1202613 | 3.81% |
| 4199 | Salesforce, Inc. | 1112357 | 3.53% |
| 1421 | AppLovin Corp. - Class A | 957498 | 3.03% |
| 1230 | Intuit, Inc. | 814777 | 2.58% |
| 9198 | Uber Technologies, Inc. | 751569 | 2.38% |
| 2715 | Accenture PLC - Class A | 728435 | 2.31% |
| 4585 | ServiceNow, Inc. | 702376 | 2.23% |
| 1286 | Berkshire Hathaway, Inc. - Class B | 646408 | 2.05% |
| 1825 | Adobe, Inc. | 638732 | 2.02% |
| 2986 | Palo Alto Networks, Inc. | 550021 | 1.74% |
| 1107 | Crowdstrike Holdings, Inc. - Class A | 518917 | 1.64% |
| 807 | Spotify Technology S.A. | 468633 | 1.49% |
| 226 | MercadoLibre, Inc. | 455223 | 1.44% |
| 1766 | Automatic Data Processing, Inc. | 454268 | 1.44% |
| 887 | Synopsys, Inc. | 416642 | 1.32% |
| 1181 | Visa, Inc. - Class A | 414189 | 1.31% |
| 3615 | Robinhood Markets, Inc. - Class A | 408857 | 1.30% |
| 2119 | NVIDIA Corp. | 395194 | 1.25% |
| 1712 | DoorDash, Inc. - Class A | 387734 | 1.23% |
| 1188 | Cadence Design Systems, Inc. | 371345 | 1.18% |
| 1617 | Snowflake, Inc. | 354705 | 1.12% |
| 1294 | Apple, Inc. | 351787 | 1.11% |
| 2026 | Airbnb, Inc. - Class A | 274969 | 0.87% |
| 928 | Autodesk, Inc. | 274697 | 0.87% |
| 779 | JPMorgan Chase & Co. | 251009 | 0.80% |
| 758 | UnitedHealth Group, Inc. | 250223 | 0.79% |
| 2812 | ROBLOX Corp. - Class A | 227856 | 0.72% |
| 994 | Coinbase Global, Inc. - Class A | 224783 | 0.71% |
| 1120 | Cloudflare, Inc. - Class A | 220808 | 0.70% |
| 702 | General Electric Co. | 216237 | 0.69% |
| 2704 | Fortinet, Inc. | 214725 | 0.68% |
| 469 | Roper Technologies, Inc. | 208766 | 0.66% |
| 957 | Workday, Inc. - Class A | 205544 | 0.65% |
| 1510 | Datadog, Inc. - Class A | 205345 | 0.65% |
| 338 | Thermo Fisher Scientific, Inc. | 195854 | 0.62% |
| 945 | Electronic Arts, Inc. | 193092 | 0.61% |
| 737 | Take-Two Interactive Software, Inc. | 188694 | 0.60% |
| 326 | Caterpillar, Inc. | 186756 | 0.59% |
| 1220 | Strategy, Inc. | 185379 | 0.59% |
| 1457 | Abbott Laboratories | 182548 | 0.58% |
| 101 | Fair Isaac Corp. | 170753 | 0.54% |
| 300 | Intuitive Surgical, Inc. | 169908 | 0.54% |
| 1507 | Walmart, Inc. | 167895 | 0.53% |

---

^ These investments are not direct holdings of the Fund. The holdings were determined based on the absolute notional values of the positions within the underlying swap basket.

## 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 FTSE Venture Capital Return Tracker Fund

- **b. EDGAR series identifier (if any):** S000069733

- **c. LEI of Series:** 549300W2M0C1HHKJ9U18

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $100356384.09

**Total Liabilities:** $421036.14

**Net Assets:** $99935347.95

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222489 | 0.07%                | -7.75%               | -1.11%               |
| Class ID C000222490 | 0.13%                | -7.63%               | -1.03%               |
| Class ID C000222491 | 0.13%                | -7.69%               | -1.02%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1562865.58              | $-1464714.25                               |
| Month 2  | $1901674.44              | $-7769362.06                               |
| Month 3  | $1545552.98              | $-1967856.37                               |

**Designated Index Information**

- **Index Name:** Refinitiv Venture Capital Index

- **Index Identifier:** TRVCI

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Advanced Micro Devices Inc         | Advanced Micro Devices, Inc.           | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |       420 | NS      | $89947.20     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                          | Amgen, Inc.                            | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       115 | NS      | $37640.65     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                     | Amazon.com, Inc.                       | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |       731 | NS      | $168729.42    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                    | Cigna Group                            | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |       751 | NS      | $206697.73    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co               | Colgate-Palmolive Co.                  | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |       825 | NS      | $65191.50     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                       | Comcast Corp. - Class A                | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      2121 | NS      | $63396.69     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc                | Coinbase Global, Inc. - Class A        | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      3156 | NS      | $713697.84    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                     | Eaton Corp. PLC                        | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |       910 | NS      | $289844.10    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp          | Edwards Lifesciences Corp.             | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      1524 | NS      | $129921.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc               | Freeport-McMoRan, Inc.                 | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |      1946 | NS      | $98837.34     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp                    | Fair Isaac Corp.                       | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       320 | NS      | $540998.40    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                          | Tesla, Inc.                            | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |       217 | NS      | $97589.24     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software      | Take-Two Interactive Software, Inc.    | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      2341 | NS      | $599366.23    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc              | Uber Technologies, Inc.                | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     29214 | NS      | $2387075.94   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc             | UnitedHealth Group, Inc.               | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      2408 | NS      | $794904.88    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                 | Union Pacific Corp.                    | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      1386 | NS      | $320609.52    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                           | Visa, Inc. - Class A                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      3750 | NS      | $1315162.50   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                  | Veeva Systems, Inc. - Class A          | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |       426 | NS      | $95095.98     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp                 | Valero Energy Corp.                    | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |       199 | NS      | $32395.21     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co                | Vulcan Materials Co.                   | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |       146 | NS      | $41642.12     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc         | Verizon Communications, Inc.           | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      2320 | NS      | $94493.60     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                        | Workday, Inc. - Class A                | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      3040 | NS      | $652931.20    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                   | Wells Fargo & Co.                      | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      2723 | NS      | $253783.60    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The               | Williams Cos., Inc.                    | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |       801 | NS      | $48148.11     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                        | Walmart, Inc.                          | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      4787 | NS      | $533319.67    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                   | Exxon Mobil Corp.                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      2829 | NS      | $340441.86    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                           | AT&T, Inc.                             | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      3934 | NS      | $97720.56     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Millicom International Cellula     | Millicom International Cellular S.A.   | CUSIP: L6388F110<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |        62 | NS      | $3437.28      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc       | Thermo Fisher Scientific, Inc.         | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      1075 | NS      | $622908.75    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                    | T-Mobile US, Inc.                      | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       346 | NS      | $70251.84     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc           | Agilent Technologies, Inc.             | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |       736 | NS      | $100147.52    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                          | Apple, Inc.                            | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      4110 | NS      | $1117344.60   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                         | AbbVie, Inc.                           | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |       377 | NS      | $86140.73     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                         | Airbnb, Inc. - Class A                 | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      6435 | NS      | $873358.20    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                | Abbott Laboratories                    | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      4627 | NS      | $579716.83    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc              | Applied Materials, Inc.                | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |       204 | NS      | $52425.96     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals Inc     | Air Products and Chemicals, Inc.       | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |       262 | NS      | $64719.24     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                      | AppLovin Corp. - Class A               | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      4512 | NS      | $3040275.84   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AST SpaceMobile Inc                | AST SpaceMobile, Inc.                  | CUSIP: 00217D100<br>LEI: 254900MBSC9P2UCI6623 | Long             | EC               | CORP              | US        |       143 | NS      | $10386.09     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                       | Broadcom, Inc.                         | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1293 | NS      | $447507.30    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                | American Express Co.                   | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |       501 | NS      | $185344.95    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                      | Boeing Co.                             | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      1787 | NS      | $387993.44    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp               | Bank of America Corp.                  | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      6147 | NS      | $338085.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BNPP Equity Swap BCKTAXVC   /      | BNPP Equity Swap BCKTAXVC   /          | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               |  | US        |   1027782 | NC      | $-297357.08   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co              | Becton Dickinson & Co.                 | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |       699 | NS      | $135654.93    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BNPP Equity Swap UA XS2 Basket   / | BNPP Equity Swap UA XS2 Basket   /     | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               |  | US        |    118976 | NC      | $-13243.20    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc             | Berkshire Hathaway, Inc. - Class B     | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      4083 | NS      | $2052319.95   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp             | Boston Scientific Corp.                | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |      3661 | NS      | $349076.35    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                      | Citigroup, Inc.                        | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      1583 | NS      | $184720.27    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                    | Caterpillar, Inc.                      | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      1034 | NS      | $592347.58    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc         | Cadence Design Systems, Inc.           | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      3772 | NS      | $1179051.76   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp          | Constellation Energy Corp.             | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |        28 | NS      | $9891.56      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc         | Charter Communications, Inc. - Class A | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |        48 | NS      | $10020.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                     | ConocoPhillips                         | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |       829 | NS      | $77602.69     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                        | Cencora, Inc.                          | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |       497 | NS      | $167861.75    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp              | Costco Wholesale Corp.                 | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |        31 | NS      | $26732.54     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                         | Copart, Inc.                           | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     13238 | NS      | $518267.70    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                     | Salesforce, Inc.                       | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     13336 | NS      | $3532839.76   | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc           | Crowdstrike Holdings, Inc. - Class A   | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      3516 | NS      | $1648160.16   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| CoreWeave Inc                      | CoreWeave, Inc. - Class A              | CUSIP: 21873S108<br>LEI: 984500511DP2B6186053 | Long             | EC               | CORP              | US        |      5138 | NS      | $367932.18    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                  | Cisco Systems, Inc.                    | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      1023 | NS      | $78801.69     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                      | Accenture PLC - Class A                | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      8623 | NS      | $2313550.90   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                          | Adobe, Inc.                            | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      5795 | NS      | $2028192.05   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                        | Corteva, Inc.                          | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |       839 | NS      | $56238.17     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                    | CVS Health Corp.                       | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      3174 | NS      | $251888.64    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                       | Chevron Corp.                          | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1375 | NS      | $209563.75    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                       | DoorDash, Inc. - Class A               | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      5438 | NS      | $1231598.24   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                        | Datadog, Inc.                          | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      4795 | NS      | $652072.05    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                       | Danaher Corp.                          | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      1926 | NS      | $440899.92    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                         | Dexcom, Inc.                           | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      1006 | NS      | $66768.22     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc                | Electronic Arts, Inc.                  | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      3000 | NS      | $612990.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing Inc      | Automatic Data Processing, Inc.        | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      5608 | NS      | $1442545.84   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                       | Autodesk, Inc.                         | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      2949 | NS      | $872933.49    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                     | Eli Lilly & Co.                        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       181 | NS      | $194517.08    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                  | Lam Research Corp.                     | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |       322 | NS      | $55119.96     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc                         | Ecolab, Inc.                           | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |       342 | NS      | $89781.84     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                | Elevance Health, Inc.                  | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |       599 | NS      | $209979.45    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                  | EOG Resources, Inc.                    | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |       320 | NS      | $33603.20     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                       | Fortinet, Inc.                         | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      8587 | NS      | $681893.67    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Communications Parent     | Frontier Communications Parent, Inc.   | CUSIP: 35909D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       133 | NS      | $5063.31      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                | General Electric Co.                   | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      2231 | NS      | $687214.93    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumen Technologies Inc             | Lumen Technologies, Inc.               | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |       466 | NS      | $3620.82      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                     | Mastercard, Inc. - Class A             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      8252 | NS      | $4710901.76   | 4.71%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc     | GE HealthCare Technologies, Inc.       | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |      1185 | NS      | $97193.70     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                     | GE Vernova, Inc.                       | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |        26 | NS      | $16992.82     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc         | Mondelez International, Inc. - Class A | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      1243 | NS      | $66910.69     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                      | Medtronic PLC                          | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |      3410 | NS      | $327564.60    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                   | MercadoLibre, Inc.                     | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |       719 | NS      | $1448252.94   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                 | Meta Platforms, Inc. - Class A         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      7011 | NS      | $4627890.99   | 4.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc      | Martin Marietta Materials, Inc.        | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |        79 | NS      | $49190.14     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp              | Monster Beverage Corp.                 | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |       762 | NS      | $58422.54     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                       | Alphabet, Inc. - Class A               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     14189 | NS      | $4441157.00   | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The        | Goldman Sachs Group, Inc.              | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       272 | NS      | $239088.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc                   | Altria Group, Inc.                     | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      1715 | NS      | $98886.90     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp            | Marathon Petroleum Corp.               | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |       195 | NS      | $31712.85     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                 | HCA Healthcare, Inc.                   | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       681 | NS      | $317931.66    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                 | Home Depot, Inc.                       | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |        73 | NS      | $25119.30     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                     | Merck & Co., Inc.                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |       527 | NS      | $55472.02     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                     | Morgan Stanley                         | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      1101 | NS      | $195460.53    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                     | Microsoft Corp.                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      9234 | NS      | $4465747.08   | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategy Inc                       | MicroStrategy, Inc. - Class A          | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      3875 | NS      | $588806.25    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc              | Micron Technology, Inc.                | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |       269 | NS      | $76775.29     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                 | NextEra Energy, Inc.                   | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |       198 | NS      | $15895.44     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                       | Newmont Corp.                          | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      1341 | NS      | $133898.85    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp                         | Nucor Corp.                            | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |       243 | NS      | $39635.73     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc        | Honeywell International, Inc.          | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      1484 | NS      | $289513.56    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc              | Robinhood Markets, Inc. - Class A      | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     11480 | NS      | $1298388.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                         | Humana, Inc.                           | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       312 | NS      | $79912.56     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                                | International Business Machines Corp.  | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     12896 | NS      | $3819924.16   | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                        | NVIDIA Corp.                           | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      6730 | NS      | $1255145.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                        | Oracle Corp.                           | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     22496 | NS      | $4384695.36   | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc             | IDEXX Laboratories, Inc.               | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |       203 | NS      | $137335.59    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB IB MONEY MARKET II   /         | UMB IB MONEY MARKET II   /             | CUSIP: SF8888627<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |     94531 | PA      | $94531.40     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc             | Palo Alto Networks, Inc.               | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      9482 | NS      | $1746584.40   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                        | PepsiCo, Inc.                          | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      1397 | NS      | $200497.44    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                         | Intel Corp.                            | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |      1237 | NS      | $45645.30     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                         | Intuit, Inc.                           | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      3906 | NS      | $2587412.52   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc             | Intuitive Surgical, Inc.               | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       953 | NS      | $539741.08    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                  | Johnson & Johnson                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |       514 | NS      | $106372.30    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The            | Procter & Gamble Co.                   | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      2389 | NS      | $342367.59    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc          | Palantir Technologies, Inc. - Class A  | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     26970 | NS      | $4793917.50   | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                | JPMorgan Chase & Co.                   | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      2475 | NS      | $797494.50    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp                | Kimberly-Clark Corp.                   | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |       327 | NS      | $32991.03     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc                  | Kinder Morgan, Inc.                    | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      1284 | NS      | $35297.16     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                   | Coca-Cola Co.                          | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      4238 | NS      | $296278.58    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings Inc               | Labcorp Holdings, Inc.                 | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       216 | NS      | $54190.08     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                          | Linde PLC                              | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |       635 | NS      | $270757.65    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare Inc                     | Cloudflare, Inc.                       | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |      3558 | NS      | $701459.70    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                        | Netflix, Inc.                          | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     42229 | NS      | $3959391.04   | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                     | ServiceNow, Inc.                       | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |     14570 | NS      | $2231978.30   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                         | Natera, Inc.                           | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       326 | NS      | $74683.34     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International In     | Philip Morris International, Inc.      | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      1439 | NS      | $230815.60    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                        | Phillips 66                            | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |       262 | NS      | $33808.48     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                       | QUALCOMM, Inc.                         | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |       272 | NS      | $46525.60     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX Corp                        | ROBLOX Corp. - Class A                 | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8930 | NS      | $723597.90    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc                         | ResMed, Inc.                           | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |       371 | NS      | $89362.77     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc             | Roper Technologies, Inc.               | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      1490 | NS      | $663243.70    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                           | RTX Corp.                              | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      2781 | NS      | $510035.40    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| EchoStar Corp                      | EchoStar Corp. - Class A               | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |        73 | NS      | $7935.10      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The            | Sherwin-Williams Co.                   | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       312 | NS      | $101097.36    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                            | SLB Ltd.                               | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |       933 | NS      | $35808.54     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                      | Snowflake, Inc. - Class A              | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      5137 | NS      | $1126852.32   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                       | Synopsys, Inc.                         | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      2816 | NS      | $1322731.52   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                     | S&P Global, Inc.                       | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       714 | NS      | $373129.26    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA              | Spotify Technology S.A.                | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |      2564 | NS      | $1488940.44   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                         | STERIS PLC                             | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       253 | NS      | $64140.56     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                       | Stryker Corp.                          | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      1028 | NS      | $361311.16    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-15

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

**Signature:** /s/ Scott Schulenburg

**Name of Signer:** Scott Schulenburg

**Title:** President