# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001193125-26-065831
**Filing Date:** 2026-2
**Character Count:** 30399
**Document Hash:** b119157de5aecf23d01d0c919e3beb78
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-065831.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001193125-26-065831

**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**: 20260331

**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:** 26668092

**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

### Alternative Access First Priority CLO Bond ETF (Series ID: S000076539)

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

## Nport-Ex

#### Alternative Access First Priority CLO Bond ETF

#### SCHEDULE OF INVESTMENTS

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

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 93.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000000 | AGL Core CLO IV Ltd.<br> Series 2020-4A, 5.264%, (3-Month Term SOFR+138 basis points), 10/20/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1004304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | AMMC CLO XXXI Ltd.<br> Series 2025-31A, 5.194%, (3-Month Term SOFR+131 basis points), 2/20/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2007802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | Apidos CLO XXXIX Ltd.<br> Series 2022-39A, 5.400%, (3-Month Term SOFR+123 basis points), 10/21/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2004847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | Bain Capital Credit CLO Ltd.<br> Series 2025-1A, 5.020%, (3-Month Term SOFR+116 basis points), 4/23/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | BlueMountain CLO XXIV Ltd.<br> Series 2019-24A, 5.246%, (3-Month Term SOFR+136.16 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;470454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | BlueMountain CLO XXV Ltd.<br> Series 2019-25A, 5.255%, (3-Month Term SOFR+135 basis points), 1/15/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Carval CLO VIII-C Ltd.<br> Series 2022-2A, 5.277%, (3-Month Term SOFR+142 basis points), 10/22/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | CarVal CLO XI-C Ltd.<br> Series 2024-3A, 5.274%, (3-Month Term SOFR+139 basis points), 10/20/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | CBAM Ltd.<br> Series 2017-2A, 5.333%, (3-Month Term SOFR+145.16 basis points), 7/17/2034<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Cedar Funding IX CLO Ltd.<br> Series 2018-9A, 5.304%, (3-Month Term SOFR+142 basis points), 7/20/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | Cedar Funding VIII CLO Ltd.<br> Series 2017-8A, 5.102%, (3-Month Term SOFR+122 basis points), 1/17/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | CIFC Funding Ltd.<br> Series 2019-6A, 5.344%, (3-Month Term SOFR+145 basis points), 7/16/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | Fortress Credit BSL XXIII Ltd.<br> Series 2025-2A, 5.556%, (3-Month Term SOFR+140 basis points), 10/15/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | Fortress Credit BSL XXVI Ltd.<br> Series 2024-4A, 5.305%, (3-Month Term SOFR+140 basis points), 1/15/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Harvest U.S. CLO Ltd.<br> Series 2024-2A, 5.305%, (3-Month Term SOFR+140 basis points), 10/15/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004370 |

---

------

#### Alternative Access First Priority CLO Bond ETF

#### SCHEDULE OF INVESTMENTS - Continued

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

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1000000 | Kennedy Lewis CLO IX Ltd.<br> Series 9A, 5.234%, (3-Month Term SOFR+135 basis points), 1/20/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1003858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | LCM XL Ltd.<br> Series 40A, 5.275%, (3-Month Term SOFR+137 basis points), 1/15/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | LCM XXXII Ltd.<br> Series 32A, 5.256%, (3-Month Term SOFR+137.16 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;900860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | Magnetite XXXIV Ltd.<br> Series 2023-34A, 5.045%, (3-Month Term SOFR+114 basis points), 1/15/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1998444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Milford Park CLO Ltd.<br> Series 2022-1A, 5.044%, (3-Month Term SOFR+116 basis points), 1/20/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | MP CLO VIII Ltd.<br> Series 2015-2A, 5.321%, (3-Month Term SOFR+146.16 basis points), 4/28/2034<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Neuberger Berman Loan Advisers CLO XXXIX Ltd.<br> Series 2020-39A, 5.414%, (3-Month Term SOFR+153 basis points), 4/20/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Octagon Investment Partners XLVII Ltd.<br> Series 2020-1A, 5.137%, (3-Month Term SOFR+128 basis points), 1/22/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Octagon Investment Partners XXIX Ltd.<br> Series 2016-1A, 5.304%, (3-Month Term SOFR+142 basis points), 7/18/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004140 |
|  | Rockford Tower CLO Ltd. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Series 2021-1A, 5.316%, (3-Month Term SOFR+143.16 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;300307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Series 2024-1A, 5.494%, (3-Month Term SOFR+161 basis points), 4/20/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30636 | Shackleton CLO Ltd.<br> Series 2013-4RA, 5.173%, (3-Month Term SOFR+126.16 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;&nbsp;&nbsp;30652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | Silver Point CLO VII Ltd.<br> Series 2024-7A, 5.265%, (3-Month Term SOFR+136 basis points), 1/15/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Sound Point CLO XXIII<br> Series 2019-2A, 5.336%, (3-Month Term SOFR+143.16 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;1000940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | Trinitas CLO XXX Ltd.<br> Series 2024-30A, 5.230%, (3-Month Term SOFR+137 basis points), 10/23/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Venture XLVI CLO Ltd.<br> Series 2022-46A, 5.334%, (3-Month Term SOFR+145 basis points), 10/20/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003816 |

---

------

#### Alternative Access First Priority CLO Bond ETF

#### SCHEDULE OF INVESTMENTS - Continued

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

------

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$78566 | Vibrant CLO XI Ltd.<br> Series 2019-11A, 5.266%, (3-Month Term SOFR+138.16 basis points), 7/20/2032<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$78604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | Voya CLO Ltd.<br> Series 2021-2A, 5.054%, (3-Month Term SOFR+117 basis points), 4/20/2038<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Wellfleet CLO Ltd.<br> Series 2024-1A, 5.474%, (3-Month Term SOFR+159 basis points), 7/18/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | WISE CLO Ltd.<br> Series 2023-2A, 5.705%, (3-Month Term SOFR+180 basis points), 1/15/2037<sup>1,2,3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501182 |
|  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** |  |
|  | (Cost $39,768,472) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**39791727** |
|  | **TOTAL INVESTMENTS — 93.8%** |  |
|  | (Cost $39,768,472) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**39791727** |
|  | Other Assets in Excess of Liabilities — 6.2% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2629755 |
|  | **TOTAL NET ASSETS — 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$42421482** |

---

---

| |
|:---|
| <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 $39,791,727, which represents 93.80% of total net assets of the Fund. |

---

## 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:** Alternative Access 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:** 2026-03-31

- **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:** $42423319.17

**Total Liabilities:** $2019.14

**Net Assets:** $42421300.03

**Cash Not Reported:** $2192523.58

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 6.933725771270 | **1-Year:** 691.134958733585 | **5-Year:** 8332.876470102662 | **10-Year:** 1071.092494177980 | **30-Year:** 0.000000000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000236514 | 0.35%                | 0.43%                | 0.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2906.72                | $-37064.17                                 |
| Month 2  | $-366.06                 | $19974.85                                  |
| Month 3  | $2451.36                 | $12162.75                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AGL CORE CLO                                                             | AGL 2020-4A AR2     | CUSIP: 001199AQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004304.40   | 2.37%             | 2031-06-05      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| AMMC CLO 31 LTD                                                          | AMMC 2025-31A A1    | CUSIP: 03166GAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2007802.00   | 4.73%             | 2031-10-06      | Floating      | 5.19%                 | Yes           |                  2 | On Loan: No      |
| BAIN CAPITAL CREDIT CLO 2025-1 LTD                                       | BCC 2025-1A A1      | CUSIP: 05686CAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1499752.50   | 3.54%             | 2031-12-07      | Floating      | 5.02%                 | Yes           |                  2 | On Loan: No      |
| CARVAL CLO XI-C LTD /LLC                                                 | CARVL 2024-3A A1    | CUSIP: 14688RAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003990.50   | 2.37%             | 2031-06-05      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| Cedar Funding VIII CLO, Ltd                                              | CEDF 2017-8A ARR    | CUSIP: 15032EAY5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2003805.40   | 4.72%             | 2031-09-02      | Floating      | 5.10%                 | Yes           |                  2 | On Loan: No      |
| Cedar Funding IX CLO                                                     | CEDF 2018-9A AR     | CUSIP: 15033EAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003757.00   | 2.37%             | 2031-03-05      | Floating      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| FORTRESS CREDIT BSL XXVI LTD                                             | FCBSL 2024-4A A     | CUSIP: 34966VAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2008701.60   | 4.74%             | 2031-08-31      | Floating      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| FORTRESS CREDIT BSL XXIII LTD                                            | FCBSL 2025-2A A     | CUSIP: 34967CAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2008733.00   | 4.74%             | 2032-05-30      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Generate Clo 9 Ltd/Generate Clo 9 Llc                                    | KLLM 9A AR          | CUSIP: 37147LAN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003858.00   | 2.37%             | 2031-09-05      | Floating      | 5.23%                 | Yes           |                  2 | On Loan: No      |
| HARVEST US CLO LTD 2024-2                                                | HARUS 2024-2A A1    | CUSIP: 41756YAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004370.20   | 2.37%             | 2031-05-31      | Floating      | 5.30%                 | Yes           |                  2 | On Loan: No      |
| LCM 32 Ltd.                                                              | LCM 32A A1          | CUSIP: 50204AAA4<br>LEI: 549300PWEMQKJMMXR454 | Long             | ABS-CBDO         | CORP              | KY        |    900000 | PA      | $900860.22    | 2.12%             | 2028-03-01      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Magnetite XXXIV Ltd.                                                     | MAGNE 2023-34A A1R  | CUSIP: 55952MAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1998444.00   | 4.71%             | 2029-12-04      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| MP Clo VIII Ltd. / MP Clo VIII LLC                                       | MP8 2015-2A ARR     | CUSIP: 62481WAL1<br>LEI: 549300D60LKSR31DKI65 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $750848.63    | 1.77%             | 2027-12-12      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| NEUBERGER BERMAN LN 39 2020 LT                                           | NEUB 2020-39A A1R   | CUSIP: 64134GAL3<br>LEI: 549300VZYYV7KE4XNU69 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004047.00   | 2.37%             | 2030-12-04      | Variable      | 5.86%                 | Yes           |                  2 | On Loan: No      |
| Octagon Investment Partners 47 Ltd / Llc                                 | OCT47 2020-1A A1R2  | CUSIP: 67576XAW0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003410.70   | 2.37%             | 2031-09-07      | Floating      | 5.14%                 | Yes           |                  2 | On Loan: No      |
| Octagon Investment Partners 29 Ltd. / Octagon Investment Partners 29 LLC | OCT29 2016-1A A1R2  | CUSIP: 67591JAU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004140.00   | 2.37%             | 2031-03-03      | Floating      | 5.30%                 | 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      | $300306.93    | 0.71%             | 2028-03-04      | Floating      | 5.32%                 | Yes           |                  2 | On Loan: No      |
| ROCKFORD TOWER CLO 2024-1 LTD                                            | ROCKT 2024-1A A1    | CUSIP: 77342BAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004058.00   | 2.37%             | 2030-12-04      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Shenergy Co Ltd.                                                         | SHACK 2013-4RA A1A  | CUSIP: 81882HAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | CN        |     30636 | PA      | $30651.63     | 0.07%             | 2026-02-16      | Floating      | 5.17%                 | Yes           |                  2 | On Loan: No      |
| Silver Point CLO 7 Ltd.                                                  | SPCLO 2024-7A A1    | CUSIP: 82808UAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1506097.50   | 3.55%             | 2031-08-31      | Floating      | 5.26%                 | Yes           |                  2 | On Loan: No      |
| Sound Point Clo Xxiii Ltd / Llc                                          | SNDPT 2019-2A AR    | CUSIP: 83614BAQ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000939.80   | 2.36%             | 2028-02-28      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| TRINITAS CLO XXX LTD                                                     | TRNTS 2024-30A A1   | CUSIP: 89643DAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1506138.00   | 3.55%             | 2031-06-08      | Floating      | 5.23%                 | Yes           |                  2 | On Loan: No      |
| CARVAL CLO VIII-C LTD                                                    | CARVL 2022-2A A1R   | CUSIP: 14686NAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1003817.00   | 2.37%             | 2031-06-05      | Floating      | 5.28%                 | Yes           |                  2 | On Loan: No      |
| LCM 40 LTD                                                               | LCM 40A A1R         | CUSIP: 50190KAN0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1506253.50   | 3.55%             | 2031-08-31      | Floating      | 5.67%                 | Yes           |                  2 | On Loan: No      |
| Milford Park CLO Ltd / Milford Part CLO LLC                              | MLFPK 2022-1A AR    | CUSIP: 59966PAN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $999980.80    | 2.36%             | 2031-09-05      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| VENTURE 46 CLO LIMITED                                                   | VENTR 2022-46A A1R  | CUSIP: 92326CBA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1003816.00   | 2.37%             | 2031-06-05      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| WISE CLO LTD 2023-2                                                      | WYZE 2023-2A A      | CUSIP: 97719TAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    500000 | PA      | $501182.00    | 1.18%             | 2030-08-31      | Floating      | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Bluemountain Clo XXXII Ltd.                                              | BLUEM 2019-24A AR   | CUSIP: 09609NAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    470000 | PA      | $470453.50    | 1.11%             | 2027-12-04      | Floating      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| BlueMountain Clo 2014-4 Limited                                          | BLUEM 2019-25A A1RR | CUSIP: 09627FBA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1400000 | PA      | $1405206.60   | 3.31%             | 2031-08-31      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Cbam 2017-2. Ltd.                                                        | CBAM 2017-2A AR     | CUSIP: 12481KAS7<br>LEI: 254900JYLIAZT0YFW632 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250270.80    | 0.59%             | 2028-03-01      | Floating      | 5.33%                 | Yes           |                  2 | On Loan: No      |
| CIFC FUNDING LTD 2019                                                    | CIFC 2019-6A A1R    | CUSIP: 12555XAN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003808.00   | 2.37%             | 2031-03-01      | Floating      | 5.34%                 | Yes           |                  2 | On Loan: No      |
| Vibrant Clo XI Ltd.                                                      | VIBR 2019-11A A1R1  | CUSIP: 92558NAJ1<br>LEI: 5493008IYL3HLPE46G85 | Long             | ABS-CBDO         | CORP              | KY        |     78566 | PA      | $78604.25     | 0.19%             | 2026-08-30      | Floating      | 5.97%                 | Yes           |                  2 | On Loan: No      |
| Voya CLO 2021-2 Ltd.                                                     | VOYA 2021-2A A1R    | CUSIP: 92919AAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2000394.60   | 4.72%             | 2031-12-04      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| WELLFLEET CLO LTD 2024-1                                                 | WELF 2024-1A A1     | CUSIP: 94951AAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004076.00   | 2.37%             | 2031-03-03      | Floating      | 5.47%                 | Yes           |                  2 | On Loan: No      |
| Apidos Clo XXXIX Ltd / Apidos Clo XXXIX LLC                              | APID 2022-39A A1R   | CUSIP: 03766HAQ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   2000000 | PA      | $2004846.60   | 4.73%             | 2028-12-04      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-05

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

**Signature:** /s/ Scott Schulenburg

**Name of Signer:** Scott Schulenburg

**Title:** President