# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001145549-23-013942
**Filing Date:** 2023-3
**Character Count:** 23930
**Document Hash:** 8fe22de9653ba1d6af7f964abee693b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-013942.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001145549-23-013942

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221031

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20230731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investment Managers Series Trust II
- **CENTRAL INDEX KEY:** 0001587982
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22894
- **FILM NUMBER:** 23690367

**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 First Priority CLO Bond ETF (Series ID: S000076539)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000236514 | AXS First Priority CLO Bond ETF | AAA             |

## Nport-Ex

#### AXS First Priority CLO Bond ETF

#### SCHEDULE OF INVESTMENTS

#### As of October 31, 2022 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 95.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$350000 | AIMCO CLO<br> Series 2017-AA, 5.293%, (3-Month USD Libor+105 basis points), 4/20/2034<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$336142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248784 | AMMC CLO 18 Ltd.<br> Series 2016-18A, 4.110%, (3-Month USD Libor+110 basis points), 5/26/2031<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | AMMC CLO XI Ltd.<br> Series 2012-11A, 5.425%, (3-Month USD Libor+101 basis points), 4/30/2031<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209122 | Atrium XII, Ltd.<br> Series 12A, 5.155%, (3-Month USD Libor+83 basis points), 4/22/2027<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Bain Capital Credit CLO<br> Series 2018-1A, 5.285%, (3-Month USD Libor+96 basis points), 4/23/2031<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Barings CLO Ltd.<br> Series 2015-2A, 5.433%, (3-Month USD Libor+119 basis points), 10/20/2030<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Battalion CLO XX Ltd.<br> Series 2021-20A, 5.259%, (3-Month USD Libor+118 basis points), 7/15/2034<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327051 | Burnham Park CLO Ltd.<br> Series 2016-1A, 5.393%, (3-Month USD Libor+115 basis points), 10/20/2029<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Cedar Funding VII CLO Ltd.<br> Series 2018-7A, 5.243%, (3-Month USD Libor+100 basis points), 1/20/2031<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366843 |
|  | CIFC Funding Ltd. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | Series 2021-4A, 5.129%, (3-Month USD Libor+105 basis points), 7/15/2033<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Series 2014-4RA, 5.249%, (3-Month USD Libor+117 basis points), 1/17/2035<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Elmwood CLO IV Ltd.<br> Series 2020-1A, 5.319%, (3-Month USD Libor+124 basis points), 4/15/2033<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Generate CLO IV Ltd.<br> Series 4A, 5.333%, (3-Month USD Libor+109 basis points), 4/20/2032<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365630 |
|  | LCM XVIII LP |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53899 | Series 19A, 5.319%, (3-Month USD Libor+124 basis points), 7/15/2027<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Series 18A, 5.263%, (3-Month USD Libor+102 basis points), 4/20/2031<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106457 | LCM XX LP<br> Series 20A, 5.283%, (3-Month USD Libor+104 basis points), 10/20/2027<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Magnetite XII Ltd.<br> Series 2015-12A, 5.179%, (3-Month USD Libor+110 basis points), 10/15/2031<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362996 |

---

------

#### AXS First Priority CLO Bond ETF

#### SCHEDULE OF INVESTMENTS - Continued

#### As of October 31, 2022 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$250000 | Palmer Square CLO Ltd.<br> Series 2014-1A, 5.209%, (3-Month USD Libor+113 basis points), 1/17/2031<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$245679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Recette CLO Ltd.<br> Series 2015-1A, 5.323%, (3-Month USD Libor+108 basis points), 4/20/2034<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Rockford Tower CLO Ltd.<br> Series 2021-1A, 5.413%, (3-Month USD Libor+117 basis points), 7/20/2034<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Shackleton CLO Ltd.<br> Series 2013-4RA, 4.941%, (3-Month USD Libor+100 basis points), 4/13/2031<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Symphony CLO XXII Ltd.<br> Series 2020-22A, 5.484%, (3-Month USD Libor+129 basis points), 4/18/2033<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Thompson Park CLO Ltd.<br> Series 2021-1A, 5.079%, (3-Month USD Libor+100 basis points), 4/15/2034<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | TICP CLO IX Ltd.<br> Series 2017-9A, 5.383%, (3-Month USD Libor+114 basis points), 1/20/2031<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | Voya CLO Ltd.<br> Series 2018-3A, 5.229%, (3-Month USD Libor+115 basis points), 10/15/2031<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366285 |
|  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** |  |
|  | (Cost $7,098,757) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6933206** |
|  | **U.S. TREASURY BILLS — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166000 | United States Treasury Bill<br> 2.197%, 11/1/2022<sup>4</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**166000** |
|  | **TOTAL U.S. TREASURY BILLS** |  |
|  | (Cost $166,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**166000** |
|  | **TOTAL INVESTMENTS — 97.6%** |  |
|  | (Cost $7,264,757) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7099206** |
|  | Other Assets in Excess of Liabilities — 2.4% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175839 |
|  | **TOTAL NET ASSETS — 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$7275045** |

---

LP – Limited Partnership

---

| |
|:---|
| <sup>1</sup>Callable. |
| <sup>2</sup>Floating rate security. |
| <sup>3</sup>Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional buyers. The total value of these securities is $6,933,206, which represents 95.3% of total net assets of the Fund. |
| <sup>4</sup>The rate shown is the effective 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 First Priority CLO Bond ETF

- **b. EDGAR series identifier (if any):** S000076539

- **c. LEI of Series:** 549300XYPG9O6BOFZM56

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

- **a. Date of fiscal year-end:** 2023-07-31

- **b. Date as of which information is reported:** 2022-10-31

**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:** $7275725.11

**Total Liabilities:** $845.80

**Net Assets:** $7274879.31

**Cash Not Reported:** $113641.89

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 13.491094200000 | **5-Year:** 1729.561463000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 1349.109420000000 | **5-Year:** 172956.146300000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000236514 | 0.68%                | 0.27%                | 0.40%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-41.16                  | $27532.24                                  |
| Month 2  | $0.00                    | $-79190.62                                 |
| Month 3  | $-15472.87               | $17948.08                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ammc Clo 18 Ltd/Corp                                          | AMMC 2016-18A AR   | CUSIP: 001746AN6<br>LEI: 549300F8C2GVHBFFH173 | Long             | ABS-CBDO         | CORP              | KY        |    248783 | PA      | $241481.11    | 3.32%             | 2031-05-27      | Floating      | 2.63%                 | Yes           |                  2 | On Loan: No      |
| AMMC CLO XI, Limited                                          | AMMC 2012-11A A1R2 | CUSIP: 00176AAX3<br>LEI: 5493004OOK6VXHQ8DQ60 | Long             | ABS-CBDO         | CORP              | KY        |    350000 | PA      | $339823.51    | 4.67%             | 2031-04-30      | Floating      | 3.79%                 | Yes           |                  2 | On Loan: No      |
| Aimco Clo Series 2017-A                                       | AIMCO 2017-AA AR   | CUSIP: 00900CAL8<br>LEI: 549300MMTPNJGGRMPB33 | Long             | ABS-CBDO         | CORP              | US        |    350000 | PA      | $336142.00    | 4.62%             | 2034-04-20      | Floating      | 3.76%                 | Yes           |                  2 | On Loan: No      |
| Atrium Xii Llc 2015-12R                                       | ATRM 12A AR        | CUSIP: 04965CAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    209122 | PA      | $205661.54    | 2.83%             | 2027-04-22      | Floating      | 3.59%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Credit Clo 2017-2                                | BCC 2018-1A A1     | CUSIP: 05683LAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $244216.40    | 3.36%             | 2031-04-23      | Floating      | 3.74%                 | Yes           |                  2 | On Loan: No      |
| Barings Clo Limited                                           | BABSN 2015-2A AR   | CUSIP: 06759FAB2<br>LEI: 549300LYPY4755WERL49 | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $294350.04    | 4.05%             | 2030-10-21      | Floating      | 3.90%                 | Yes           |                  2 | On Loan: No      |
| Battalion Clo xx Ltd/Battalion Clo xx Llc                     | BATLN 2021-20A A   | CUSIP: 07134UAA5<br>LEI: 549300CDYR56PY734566 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $239804.80    | 3.30%             | 2034-07-17      | Floating      | 3.69%                 | Yes           |                  2 | On Loan: No      |
| Burnham Park Clo Llc                                          | BURNH 2016-1A AR   | CUSIP: 12232KAQ3<br>LEI: 549300BOEG5O4MSO7220 | Long             | ABS-CBDO         | CORP              | US        |    327051 | PA      | $321351.71    | 4.42%             | 2029-10-22      | Floating      | 3.86%                 | Yes           |                  2 | On Loan: No      |
| CIFC FUNDING LTD                                              | CIFC 2021-4A A     | CUSIP: 12547DAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    290000 | PA      | $281246.41    | 3.87%             | 2033-07-15      | Floating      | 3.56%                 | Yes           |                  2 | On Loan: No      |
| CIFC Funding 2014-IV-R LTD / LLC                              | CIFC 2014-4RA A1AR | CUSIP: 12552FAQ6<br>LEI: 5493006JGTCIL6LCS728 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $239704.80    | 3.29%             | 2035-01-17      | Floating      | 3.91%                 | Yes           |                  2 | On Loan: No      |
| Cedar Funding VII CLO, Ltd                                    | CEDF 2018-7A A1    | CUSIP: 15032FAA4<br>LEI: 549300G87EGFMLOYN341 | Long             | ABS-CBDO         | CORP              | KY        |    375000 | PA      | $366842.85    | 5.04%             | 2031-01-21      | Floating      | 3.71%                 | Yes           |                  2 | On Loan: No      |
| ELMWOOD CLO IV LTD                                            | ELMW4 2020-1A A    | CUSIP: 29002GAB7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $242090.85    | 3.33%             | 2033-04-15      | Floating      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| LCM XVIII Limited Partnership / LCM XVIII LLC                 | LCM 18A A1R        | CUSIP: 50188GAT0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    375000 | PA      | $367293.49    | 5.05%             | 2031-07-21      | Floating      | 3.73%                 | Yes           |                  2 | On Loan: No      |
| Lcm XIX Limited Partnership/LLC                               | LCM 19A AR         | CUSIP: 50188QAJ0<br>LEI: 5493003LYT7GC7SDWZ12 | Long             | ABS-CBDO         | CORP              | KY        |     53899 | PA      | $53276.90     | 0.73%             | 2027-07-15      | Floating      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| LCM XX Limited Partnership / LCM XX LLC                       | LCM 20A AR         | CUSIP: 50188WAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    106457 | PA      | $105503.63    | 1.45%             | 2027-10-20      | Floating      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Magnetite XII Ltd./LLC                                        | MAGNE 2015-12A ARR | CUSIP: 55953HAS2<br>LEI: 549300Z6VW568TT64K70 | Long             | ABS-CBDO         | CORP              | KY        |    375000 | PA      | $362995.65    | 4.99%             | 2031-10-15      | Floating      | 3.61%                 | Yes           |                  2 | On Loan: No      |
| Palmer Square CLO 2014-1                                      | PLMRS 2014-1A A1R2 | CUSIP: 69688XAS0<br>LEI: 549300UP5H2PFBIITY41 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $245678.95    | 3.38%             | 2031-01-17      | Floating      | 3.87%                 | Yes           |                  2 | On Loan: No      |
| Recette Clo Ltd                                               | RCTTE 2015-1A ARR  | CUSIP: 75620TAW8<br>LEI: 549300392I5L5XOJ0016 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $238049.58    | 3.27%             | 2034-04-20      | Floating      | 3.79%                 | Yes           |                  2 | On Loan: No      |
| Rockford Tower Clo 2021-1 Ltd / Rockford Tower Clo 2021-1 Llc | ROCKT 2021-1A A1   | CUSIP: 77341KAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $287922.45    | 3.96%             | 2034-07-20      | Floating      | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Shenergy Co Ltd.                                              | SHACK 2013-4RA A1A | CUSIP: 81882HAA3<br>LEI: 5493000LHXWSIZGUY418 | Long             | ABS-CBDO         | CORP              | CN        |    350000 | PA      | $338707.25    | 4.66%             | 2031-04-14      | Floating      | 3.46%                 | Yes           |                  2 | On Loan: No      |
| Symphony CLO XXII LTD/LLC                                     | SYMP 2020-22A A1A  | CUSIP: 87167GAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    375000 | PA      | $364031.25    | 5.00%             | 2033-04-18      | Floating      | 4.03%                 | Yes           |                  2 | On Loan: No      |
| Ticp Clo Ix Ltd / Ticp Clo Ix Llc                             | TICP 2017-9A A     | CUSIP: 87249AAA3<br>LEI: 549300T5OQR4UD880D68 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $244573.40    | 3.36%             | 2031-01-21      | Floating      | 3.85%                 | Yes           |                  2 | On Loan: No      |
| THOMPSON PARK CLO LTD                                         | TPRK 2021-1A A1    | CUSIP: 884887AA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $240542.98    | 3.31%             | 2034-04-17      | Floating      | 3.51%                 | Yes           |                  2 | On Loan: No      |
| Voya CLO 2018-3 Ltd/ Voya CLO 2018-3 LLC                      | VOYA 2018-3A A1A   | CUSIP: 92917KAA2<br>LEI: 54930068MLVF3BECCK93 | Long             | ABS-CBDO         | CORP              | KY        |    375000 | PA      | $366284.66    | 5.03%             | 2031-10-15      | Floating      | 3.66%                 | Yes           |                  2 | On Loan: No      |
| YORK CLO-4 LTD                                                | GNRT 4A A1R        | CUSIP: 986252AQ7<br>LEI: 549300HNXZUJB12SQJ60 | Long             | ABS-CBDO         | CORP              | KY        |    375000 | PA      | $365629.95    | 5.03%             | 2032-04-20      | Floating      | 3.80%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bills                                  | B 0 11/01/22       | CUSIP: 912796YG8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    166000 | PA      | $166000.00    | 2.28%             | 2022-11-01      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-21

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

**Signature:** /s/ Terrance P. Gallagher

**Name of Signer:** Terrance P. Gallagher

**Title:** President