# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001145549-23-007299
**Filing Date:** 2023-2
**Character Count:** 40211
**Document Hash:** e2aa2c65e49f9fc0cfa10ce75ff54a9d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-007299.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001145549-23-007299

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20221231

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22894
- **FILM NUMBER:** 23648615

**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

### KENNEDY CAPITAL SMALL CAP VALUE FUND (Series ID: S000076118)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000235565 | Institutional Class Shares | KVALX           |

## 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:** Kennedy Capital Small Cap Value Fund

- **b. EDGAR series identifier (if any):** S000076118

- **c. LEI of Series:** 549300ZGCFKGI0M06414

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $5710236.30

**Total Liabilities:** $95623.70

**Net Assets:** $5614612.60

**Cash Not Reported:** $6622.69

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000235565 | 13.65%               | 4.00%                | -6.42%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $51880.22                | $179116.31                                 |
| Month 2  | $8292.22                 | $192663.86                                 |
| Month 3  | $4176.80                 | $-385972.09                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alcoa Corp                     | Alcoa Corp.                                    | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |       760 | NS      | $34557.20     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust Inc      | American Assets Trust, Inc. - REIT             | CUSIP: 024013104<br>LEI: N/A                  | Long             |  | CORP              | US        |      1733 | NS      | $45924.50     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp            | Addus HomeCare Corp.                           | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |       737 | NS      | $73324.13     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| American Equity Investment Lif | American Equity Investment Life Holding Co.    | CUSIP: 025676206<br>LEI: 549300RK5RZQ740FPL83 | Long             | EC               | CORP              | US        |      1338 | NS      | $61039.56     | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| American Eagle Outfitters Inc  | American Eagle Outfitters, Inc.                | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |      3958 | NS      | $55253.68     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| AdaptHealth Corp               | AdaptHealth Corp.                              | CUSIP: 00653Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1371 | NS      | $26350.62     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Altra Industrial Motion Corp   | Altra Industrial Motion Corp.                  | CUSIP: 02208R106<br>LEI: NQ0NIXPGW4YKG4MWM571 | Long             | EC               | CORP              | US        |      1528 | NS      | $91298.00     | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLETE Inc                     | ALLETE, Inc.                                   | CUSIP: 018522300<br>LEI: 549300NNLSIMY6Z8OT86 | Long             | EC               | CORP              | US        |       450 | NS      | $29029.50     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc                | Alamo Group, Inc.                              | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |       660 | NS      | $93456.00     | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| AMN Healthcare Services Inc    | AMN Healthcare Services, Inc.                  | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |       447 | NS      | $45960.54     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals Inc        | ANI Pharmaceuticals, Inc.                      | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |      1760 | NS      | $70804.80     | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Argo Group International Holdi | Argo Group International Holdings Ltd.         | CUSIP: G0464B107<br>LEI: 549300M4T8Y5TTWI6O03 | Long             | EC               | CORP              | BM        |      2520 | NS      | $65142.00     | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Astec Industries Inc           | Astec Industries, Inc.                         | CUSIP: 046224101<br>LEI: 5493002DO2QKHLKB2A48 | Long             | EC               | CORP              | US        |      1215 | NS      | $49401.90     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp                    | Avista Corp.                                   | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |      1197 | NS      | $53074.98     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| American States Water Co       | American States Water Co.                      | CUSIP: 029899101<br>LEI: 529900L26LIS2V8PWM23 | Long             | EC               | CORP              | US        |       507 | NS      | $46922.85     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Brands Inc              | Acuity Brands, Inc.                            | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       207 | NS      | $34281.27     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Banner Corp                    | Banner Corp.                                   | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       528 | NS      | $33369.60     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc                 | BankUnited, Inc.                               | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |      1463 | NS      | $49698.11     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                  | TopBuild Corp.                                 | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |       314 | NS      | $49137.86     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloomin' Brands Inc            | Bloomin' Brands, Inc.                          | CUSIP: 094235108<br>LEI: E1UJ2GO305B5FXGV7N04 | Long             | EC               | CORP              | US        |      3202 | NS      | $64424.24     | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands Inc            | BellRing Brands, Inc.                          | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |      1744 | NS      | $44716.16     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Bank                   | Cadence Bank                                   | CUSIP: 12740C103<br>LEI: Q7C315HKI8VX0SSKBS64 | Long             | EC               | CORP              | US        |      2297 | NS      | $56644.02     | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust Inc | Community Healthcare Trust, Inc. - REIT        | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             |  | CORP              | US        |       815 | NS      | $29177.00     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp                 | ChampionX Corp.                                | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |      2013 | NS      | $58356.87     | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cambium Networks Corp          | Cambium Networks Corp.                         | CUSIP: G17766109<br>LEI: 549300OYSIGK6OT5WL04 | Long             | EC               | CORP              | US        |      1752 | NS      | $37965.84     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                  | Coherent Corp.                                 | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      1919 | NS      | $67356.90     | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| America's Car-Mart Inc/TX      | America's Car-Mart, Inc.                       | CUSIP: 03062T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       546 | NS      | $39453.96     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp      | Carpenter Technology Corp.                     | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |      1034 | NS      | $38195.96     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc           | Cavco Industries, Inc.                         | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       293 | NS      | $66291.25     | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Calavo Growers Inc             | Calavo Growers, Inc.                           | CUSIP: 128246105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1698 | NS      | $49921.20     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Dana Inc                       | Dana, Inc.                                     | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               | CORP              | US        |      4663 | NS      | $70551.19     | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Denbury Inc                    | Denbury, Inc.                                  | CUSIP: 24790A101<br>LEI: 549300KCWA5W52MS5559 | Long             | EC               | CORP              | US        |       134 | NS      | $11660.68     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp               | HF Sinclair Corp.                              | CUSIP: 403949100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       705 | NS      | $36582.45     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Inc                     | Diodes, Inc.                                   | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |       411 | NS      | $31293.54     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Financial Services  | Enterprise Financial Services Corp.            | CUSIP: 293712105<br>LEI: 5493001XTU5DLD632129 | Long             | EC               | CORP              | US        |      1245 | NS      | $60955.20     | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc       | EastGroup Properties, Inc. - REIT              | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             |  | CORP              | US        |       427 | NS      | $63221.62     | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Enhabit Inc                    | Enhabit, Inc.                                  | CUSIP: 29332G102<br>LEI: 549300RFQ78SLDFSHF49 | Long             | EC               | CORP              | US        |      2551 | NS      | $33571.16     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Tr | Essential Properties Realty Trust, Inc. - REIT | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             |  | CORP              | US        |      1161 | NS      | $27248.67     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc            | Eagle Materials, Inc.                          | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |       345 | NS      | $45833.25     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| FB Financial Corp              | FB Financial Corp.                             | CUSIP: 30257X104<br>LEI: 5493000B2LD2C2A6C435 | Long             | EC               | CORP              | US        |       667 | NS      | $24105.38     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate BancSystem In | First Interstate BancSystem, Inc. - Class A    | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |      2043 | NS      | $78961.95     | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| HB Fuller Co                   | H.B. Fuller Co.                                | CUSIP: 359694106<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | EC               | CORP              | US        |       488 | NS      | $34950.56     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners Inc       | Green Brick Partners, Inc.                     | CUSIP: 392709101<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EC               | CORP              | US        |      1009 | NS      | $24448.07     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc           | Chart Industries, Inc.                         | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |       244 | NS      | $28116.12     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc      | Halozyme Therapeutics, Inc.                    | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      1474 | NS      | $83870.60     | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Helen of Troy Ltd              | Helen of Troy Ltd.                             | CUSIP: G4388N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       579 | NS      | $64216.89     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corp     | Horace Mann Educators Corp.                    | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |       534 | NS      | $19955.58     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| HomeStreet Inc                 | HomeStreet, Inc.                               | CUSIP: 43785V102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1111 | NS      | $30641.38     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Home BancShares Inc/AR         | Home BancShares, Inc.                          | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4173 | NS      | $95102.67     | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Helmerich & Payne Inc          | Helmerich & Payne, Inc.                        | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | EC               | CORP              | US        |       704 | NS      | $34897.28     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Commerce Corp         | Heritage Commerce Corp.                        | CUSIP: 426927109<br>LEI: 549300CLIS851ELSR406 | Long             | EC               | CORP              | US        |      3263 | NS      | $42419.00     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawkins Inc                    | Hawkins, Inc.                                  | CUSIP: 420261109<br>LEI: 549300VL3IJ23OWX1Y34 | Long             | EC               | CORP              | US        |      1482 | NS      | $57205.20     | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ichor Holdings Ltd             | Ichor Holdings Ltd.                            | CUSIP: G4740B105<br>LEI: 529900PS8R2JVLJ2H892 | Long             | EC               | CORP              | US        |      2145 | NS      | $57528.90     | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU Medical Inc                | ICU Medical, Inc.                              | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |       255 | NS      | $40157.40     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                    | IDACORP, Inc.                                  | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |       520 | NS      | $56082.00     | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| IES Holdings Inc               | IES Holdings, Inc.                             | CUSIP: 44951W106<br>LEI: 549300687T8E6LN6EN72 | Long             | EC               | CORP              | US        |       959 | NS      | $34111.63     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc         | Insteel Industries, Inc.                       | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |      1675 | NS      | $46096.00     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovative Industrial Properti | Innovative Industrial Properties, Inc. - REIT  | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             |  | CORP              | US        |       122 | NS      | $12364.70     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Outdoors Inc           | Johnson Outdoors, Inc. - Class A               | CUSIP: 479167108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       431 | NS      | $28497.72     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                     | Kirby Corp.                                    | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |       897 | NS      | $57721.95     | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust        | Kite Realty Group Trust - REIT                 | CUSIP: 49803T300<br>LEI: N/A                  | Long             |  | CORP              | US        |      3562 | NS      | $74980.10     | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp           | Quaker Chemical Corp.                          | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |       256 | NS      | $42726.40     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                 | LCI Industries                                 | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |       239 | NS      | $22095.55     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| LeMaitre Vascular Inc          | LeMaitre Vascular, Inc.                        | CUSIP: 525558201<br>LEI: 549300FZUBUB7MHY8R17 | Long             | EC               | CORP              | US        |       991 | NS      | $45605.82     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                | Macerich Co. - REIT                            | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             |  | CORP              | US        |      4633 | NS      | $52167.58     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesa Laboratories Inc          | Mesa Laboratories, Inc.                        | CUSIP: 59064R109<br>LEI: 549300ZCG738WLX8ZW79 | Long             | EC               | CORP              | US        |       171 | NS      | $28421.91     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB MONEY MARKET FIDUCIARY   / | UMB MONEY MARKET FIDUCIARY   /                 | CUSIP: SF8888528<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    215396 | PA      | $215395.71    | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co        | Modine Manufacturing Co.                       | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      1549 | NS      | $30763.14     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Materion Corp                  | Materion Corp.                                 | CUSIP: 576690101<br>LEI: 549300CJ5RI351SUYT02 | Long             | EC               | CORP              | US        |       384 | NS      | $33603.84     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxLinear Inc                  | MaxLinear, Inc.                                | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |       837 | NS      | $28416.15     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank Holdings Corp    | National Bank Holdings Corp. - Class A         | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2089 | NS      | $87884.23     | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil and Gas Inc       | Northern Oil and Gas, Inc.                     | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |      1964 | NS      | $60530.48     | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Tr | National Storage Affiliates Trust - REIT       | CUSIP: 637870106<br>LEI: N/A                  | Long             |  | CORP              | US        |      1161 | NS      | $41935.32     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| NextGen Healthcare Inc         | NextGen Healthcare, Inc.                       | CUSIP: 65343C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3401 | NS      | $63870.78     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Residential Trust Inc | NexPoint Residential Trust, Inc. - REIT        | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             |  | CORP              | US        |      1430 | NS      | $62233.60     | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Community Bancorp Inc | New York Community Bancorp, Inc.               | CUSIP: 649445103<br>LEI: 529900HVXOTLY61GL030 | Long             | EC               | CORP              | US        |      2528 | NS      | $21740.80     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Origin Bancorp Inc             | Origin Bancorp, Inc.                           | CUSIP: 68621T102<br>LEI: 54930055DO2Z4KO3NB45 | Long             | EC               | CORP              | US        |      1734 | NS      | $63637.80     | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Corporate Office Properties Tr | Corporate Office Properties Trust - REIT       | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             |  | CORP              | US        |      1520 | NS      | $39428.80     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollie's Bargain Outlet Holding | Ollie's Bargain Outlet Holdings, Inc.          | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |       851 | NS      | $39860.84     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicell Inc                   | Omnicell, Inc.                                 | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |       404 | NS      | $20369.68     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                       | Bank OZK                                       | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |      1613 | NS      | $64616.78     | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| PacWest Bancorp                | PacWest Bancorp                                | CUSIP: 695263103<br>LEI: 549300YI8VMFO7G36V04 | Long             | EC               | CORP              | US        |      1147 | NS      | $26323.65     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp            | PotlatchDeltic Corp. - REIT                    | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             |  | CORP              | US        |      1283 | NS      | $56439.17     | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Peapack-Gladstone Financial Co | Peapack-Gladstone Financial Corp.              | CUSIP: 704699107<br>LEI: 549300G8DN2UK8K0ET30 | Long             | EC               | CORP              | US        |      1365 | NS      | $50805.30     | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpine Income Property Trust I | Alpine Income Property Trust, Inc. - REIT      | CUSIP: 02083X103<br>LEI: N/A                  | Long             |  | CORP              | US        |      2464 | NS      | $47013.12     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Cos              | Piper Sandler Cos.                             | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |       580 | NS      | $75510.20     | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Plexus Corp                    | Plexus Corp.                                   | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |       439 | NS      | $45186.27     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners In | Pinnacle Financial Partners, Inc.              | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |       650 | NS      | $47710.00     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Perficient Inc                 | Perficient, Inc.                               | CUSIP: 71375U101<br>LEI: 549300HTBXKL2755T650 | Long             | EC               | CORP              | US        |       653 | NS      | $45598.99     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Progress Software Corp         | Progress Software Corp.                        | CUSIP: 743312100<br>LEI: 549300R65B3JG6972S24 | Long             | EC               | CORP              | US        |       909 | NS      | $45859.05     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Rent-A-Center Inc/TX           | Rent-A-Center, Inc.                            | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               | CORP              | US        |      1009 | NS      | $22752.95     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibraltar Industries Inc       | Gibraltar Industries, Inc.                     | CUSIP: 374689107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1159 | NS      | $53174.92     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp             | Regal Rexnord Corp.                            | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |       540 | NS      | $64789.20     | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryerson Holding Corp           | Ryerson Holding Corp.                          | CUSIP: 783754104<br>LEI: 549300JMA41B3ZHOVE45 | Long             | EC               | CORP              | US        |       957 | NS      | $28958.82     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                       | Saia, Inc.                                     | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |       238 | NS      | $49903.84     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandy Spring Bancorp Inc       | Sandy Spring Bancorp, Inc.                     | CUSIP: 800363103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1210 | NS      | $42628.30     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp          | Stifel Financial Corp.                         | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |      1365 | NS      | $79675.05     | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc   | Sunstone Hotel Investors, Inc. - REIT          | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             |  | CORP              | US        |      5370 | NS      | $51874.20     | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| 1st Source Corp                | 1st Source Corp.                               | CUSIP: 336901103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1291 | NS      | $68539.19     | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Corp                | SouthState Corp.                               | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |       185 | NS      | $14126.60     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc   | Simpson Manufacturing Co., Inc.                | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |       471 | NS      | $41758.86     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwestern Energy Co         | Southwestern Energy Co.                        | CUSIP: 845467109<br>LEI: EFWMP121W54QV9MGOP87 | Long             | EC               | CORP              | US        |      9701 | NS      | $56750.85     | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Syneos Health Inc              | Syneos Health, Inc.                            | CUSIP: 87166B102<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | EC               | CORP              | US        |       446 | NS      | $16359.28     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc   | Texas Capital Bancshares, Inc.                 | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |      1097 | NS      | $66160.07     | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| United Community Banks Inc/GA  | United Community Banks, Inc.                   | CUSIP: 90984P303<br>LEI: 549300GVW0FV66X3U703 | Long             | EC               | CORP              | US        |      1454 | NS      | $49145.20     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc             | UFP Industries, Inc.                           | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |       665 | NS      | $52701.25     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| UniFirst Corp/MA               | UniFirst Corp.                                 | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |       229 | NS      | $44194.71     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc         | Valmont Industries, Inc.                       | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |       270 | NS      | $89280.90     | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington Federal Inc         | Washington Federal, Inc.                       | CUSIP: 938824109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1139 | NS      | $38213.45     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International Inc        | WESCO International, Inc.                      | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |       351 | NS      | $43945.20     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp           | Wabash National Corp.                          | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |      3433 | NS      | $77585.80     | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp        | Wintrust Financial Corp.                       | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      1122 | NS      | $94831.44     | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Ziff Davis Inc                 | Ziff Davis, Inc.                               | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |       715 | NS      | $56556.50     | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-19

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

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

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

**Title:** President