# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001193125-26-067180
**Filing Date:** 2026-2
**Character Count:** 15160
**Document Hash:** e1f5008b3cdf342b066d1da5fdfeb5c5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-067180.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001193125-26-067180

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**PERIOD START**: 20260930

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22894
- **FILM NUMBER:** 26672085

**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 Tactical Income Fund (Series ID: S000079776)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000241130 | Class I Shares | TINIX           |

## Nport-Ex

#### AXS Tactical Income Fund

#### SCHEDULE OF INVESTMENTS

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

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **EXCHANGE-TRADED FUNDS — 102.0%** |  |
| 33318 | Alerian MLP ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1566612 |
| 10300 | iShares 0-1 Year Treasury Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134545 |
| 36660 | iShares 0-5 Year High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571614 |
| 57250 | iShares Fallen Angels USD Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1562925 |
| 18296 | iShares Interest Rate Hedged High Yield Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1577115 |
| 31143 | Janus Henderson AAA CLO ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1575213 |
| 32898 | Janus Henderson B-BBB CLO ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569235 |
| 38111 | State Street Blackstone Senior Loan ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1572841 |
| 17565 | State Street SPDR Bloomberg Convertible Securities ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566798 |
| 16183 | State Street SPDR Bloomberg High Yield Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573150 |
| 23247 | Vanguard Emerging Markets Government Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567545 |
| 18659 | Vanguard Intermediate-Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1562691 |
| 26081 | Vanguard Intermediate-Term Treasury ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1563034 |
| 20259 | Vanguard Long-Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1536645 |
| 27384 | Vanguard Long-Term Treasury ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1528027 |
| 33311 | Vanguard Mortgage-Backed Securities ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1568282 |
| 19717 | Vanguard Short-Term Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1572037 |
| 31466 | Vanguard Short-Term Inflation-Protected Securities ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1556308 |
| 26794 | Vanguard Short-Term Treasury ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573612 |
| 70395 | WisdomTree Trust Interest Rate Hedged U.S. Aggregate Bond Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1582832 |
|  | **TOTAL EXCHANGE-TRADED FUNDS** |  |
|  | (Cost $30,448,500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30881061** |
|  | **TOTAL INVESTMENTS — 102.0%** |  |
|  | (Cost $30,448,500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**30881061** |
|  | Liabilities in Excess of Other Assets — (2.0)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(603737) |
|  | **TOTAL NET ASSETS — 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$30277324** |

---

ETF – Exchange-Traded 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:** AXS Tactical Income Fund

- **b. EDGAR series identifier (if any):** S000079776

- **c. LEI of Series:** 984500JEF00140771914

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

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

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $31216372.91

**Total Liabilities:** $114617.62

**Net Assets:** $31101755.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241130 | 0.44%                | 0.29%                | -0.17%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $30203.14                                  |
| Month 2  | $0.00                    | $-16559.48                                 |
| Month 3  | $-1684.63                | $-267508.84                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alerian MLP ETF                | Alerian MLP ETF                                                                             | CUSIP: 00162Q452<br>LEI: 549300WPBLCQJSVVVV61 | Long             |  | RF                | US        |     33318 | NS      | $1566612.36   | 5.04%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR Bloomberg Co | SPDR Bloomberg Convertible Securities ETF - Class USD INC                                   | CUSIP: 78464A359<br>LEI: 549300IXKU3G7R6DMX93 | Long             |  | RF                | US        |     17565 | NS      | $1566798.00   | 5.04%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Fallen Angels USD Bond | iShares Fallen Angels USD Bond ETF - Class USD INC                                          | CUSIP: 46435G474<br>LEI: 549300TGAA9LRLT3ZX42 | Long             |  | RF                | US        |     57250 | NS      | $1562925.00   | 5.03%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Interest Rate Hedged H | iShares Interest Rate Hedged High Yield Bond ETF - Class USD INC                            | CUSIP: 46431W606<br>LEI: 549300K03DREBCPJX421 | Long             |  | RF                | US        |     18296 | NS      | $1577115.20   | 5.07%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree Trust WisdomTree In | WisdomTree Trust WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund - Class U.S.D INC | CUSIP: 97717W380<br>LEI: 5493006OMUEEHEDQ6617 | Long             |  | RF                | US        |     70395 | NS      | $1582831.58   | 5.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson AAA CLO ETF    | Janus Henderson AAA CLO ETF - Class USD INC                                                 | CUSIP: 47103U845<br>LEI: 549300N7UZ9PO4OVKA94 | Long             |  | RF                | US        |     31143 | NS      | $1575212.94   | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson B-BBB CLO ETF  | Janus Henderson B-BBB CLO ETF - Class USD INC                                               | CUSIP: 47103U753<br>LEI: 549300UAMX73GRTHWH74 | Long             |  | RF                | US        |     32898 | NS      | $1569234.60   | 5.05%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR Bloomberg Hi | SPDR Bloomberg High Yield Bond ETF - Class USD INC                                          | CUSIP: 78468R622<br>LEI: 549300NCLW2248PN7J24 | Long             |  | RF                | US        |     16183 | NS      | $1573149.43   | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan US Government Money M | JPMorgan U.S. Government Money Market Fund - Class Premier                                  | CUSIP: 4812C0688<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |    297923 | PA      | $297923.31    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 0-1 Year Treasury Bond | iShares Short Treasury Bond ETF - Class USD INC                                             | CUSIP: 464288679<br>LEI: 549300F8ZJ4IZLOOBP30 | Long             |  | RF                | US        |     10300 | NS      | $1134545.00   | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 0-5 Year High Yield Co | iShares 0-5 Year High Yield Corporate Bond ETF - Class USD INC                              | CUSIP: 46434V407<br>LEI: 549300R96U5WQ7R5ID10 | Long             |  | RF                | US        |     36660 | NS      | $1571614.20   | 5.05%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Blackstone Senior | SPDR Blackstone Senior Loan ETF - Class USD INC                                             | CUSIP: 78467V608<br>LEI: 549300ME4SR63Y3TRD06 | Long             |  | RF                | US        |     38111 | NS      | $1572840.97   | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Intermediate-Term Cor | Vanguard Intermediate-Term Corporate Bond ETF - Class USD INC                               | CUSIP: 92206C870<br>LEI: N/A                  | Long             |  | RF                | US        |     18659 | NS      | $1562691.25   | 5.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Long-Term Corporate B | Vanguard Long-Term Corporate Bond ETF - Class USD INC                                       | CUSIP: 92206C813<br>LEI: N/A                  | Long             |  | RF                | US        |     20259 | NS      | $1536645.15   | 4.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Short-Term Corporate  | Vanguard Short-Term Corporate Bond ETF                                                      | CUSIP: 92206C409<br>LEI: N/A                  | Long             |  | RF                | US        |     19717 | NS      | $1572036.41   | 5.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Intermediate-Term Tre | Vanguard Intermediate-Term Treasury ETF                                                     | CUSIP: 92206C706<br>LEI: N/A                  | Long             |  | RF                | US        |     26081 | NS      | $1563034.33   | 5.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Long-Term Treasury ET | Vanguard Long-Term Treasury ETF                                                             | CUSIP: 92206C847<br>LEI: N/A                  | Long             |  | RF                | US        |     27384 | NS      | $1528027.20   | 4.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Short-Term Treasury E | Vanguard Short-Term Treasury ETF                                                            | CUSIP: 92206C102<br>LEI: N/A                  | Long             |  | RF                | US        |     26794 | NS      | $1573611.62   | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Mortgage-Backed Secur | Vanguard Mortgage-Backed Securities ETF - Class USD INC                                     | CUSIP: 92206C771<br>LEI: N/A                  | Long             |  | RF                | US        |     33311 | NS      | $1568281.88   | 5.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Short-Term Inflation- | Vanguard Short-Term Inflation-Protected Securities ETF - Class USD INC                      | CUSIP: 922020805<br>LEI: N/A                  | Long             |  | RF                | US        |     31466 | NS      | $1556308.36   | 5.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Emerging Markets Gove | Vanguard Emerging Markets Government Bond ETF - Class ETF shares USD INC                    | CUSIP: 921946885<br>LEI: N/A                  | Long             |  | RF                | US        |     23247 | NS      | $1567545.21   | 5.04%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-07

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

**Signature:** /s/ Scott Schulenburg

**Name of Signer:** Scott Schulenburg

**Title:** President