# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001193125-25-240131
**Filing Date:** 2025-10
**Character Count:** 17649
**Document Hash:** 7f582b52378efd4d615d523b190bf0ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-240131.hdr.sgml**: 20251015

**ACCESSION NUMBER**: 0001193125-25-240131

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251015

**DATE AS OF CHANGE**: 20251015

**PERIOD START**: 20251130

**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:** 251394529

**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

### ACR Equity International Fund (Series ID: S000055968)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000176262 | Class I Shares | ACREX           |

## Nport-Ex

#### ACR Equity International Fund

#### SCHEDULE OF INVESTMENTS

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

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS — 88.5%** |  |
|  | **BELGIUM — 3.6%** |  |
| 308703 | Azelis Group N.V. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4604182** |
|  | **BERMUDA — 8.1%** |  |
| 544000 | Liberty Global Ltd. - Class A\*<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6386560 |
| 498729 | Liberty Latin America Ltd. - Class C\*<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4109527 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10496087** |
|  | **CANADA — 6.8%** |  |
| 129074 | Premium Brands Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8877479** |
|  | **DENMARK — 4.5%** |  |
| 200578 | ISS A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5866112** |
|  | **FRANCE — 10.0%** |  |
| 502241 | Opmobility | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8099782 |
| 80989 | Sodexo S.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4862912 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12962694** |
|  | **HONG KONG — 3.4%** |  |
| 4065844 | Budweiser Brewing Co. APAC Ltd.<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4409032** |
|  | **IRELAND — 6.9%** |  |
| 141129 | DCC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8974652** |
|  | **LUXEMBOURG — 3.4%** |  |
| 58231 | Eurofins Scientific S.E. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4421639** |
|  | **SWITZERLAND — 2.4%** |  |
| 230118 | Medmix A.G.<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3090029** |
|  | **UNITED KINGDOM — 35.4%** |  |
| 89400 | Ashtead Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6586505 |
| 1738140 | B&M European Value Retail S.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5653242 |
| 3790660 | Eurocell PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7172488 |
| 5841131 | JD Sports Fashion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7581865 |
| 1280000 | Naked Wines PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1574267 |
| 1697000 | Victoria PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641267 |
| 932735 | Vistry Group PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7702407 |
| 669724 | Vodafone Group PLC<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8009899 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**45921940** |

---

------

#### ACR Equity International Fund

#### SCHEDULE OF INVESTMENTS - Continued

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

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **UNITED STATES — 4.0%** |  |
| 41465 | Arrow Electronics, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$5238274** |
|  | **TOTAL COMMON STOCKS** |  |
|  | (Cost $109,595,511) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**114862120** |
|  | **EXCHANGE-TRADED FUNDS — 8.5%** |  |
|  | **UNITED STATES — 8.5%** |  |
| 55279 | Goldman Sachs Access Treasury 0-1 Year ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5539509 |
| 55000 | iShares 0-3 Month Treasury Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5540700 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11080209** |
|  | **TOTAL EXCHANGE-TRADED FUNDS** |  |
|  | (Cost $11,045,990) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11080209** |

---

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  |  |
|  | **SHORT-TERM INVESTMENTS — 2.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3270521 | UMB Bank, Institutional Banking Money Market II Deposit Investment, 3.8%<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3270521 |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | (Cost $3,270,521) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3270521** |
|  | **TOTAL INVESTMENTS — 99.5%** |  |
|  | (Cost $123,912,022) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**129212850** |
|  | Other Assets in Excess of Liabilities — 0.5% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614335 |
|  | **TOTAL NET ASSETS — 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$129827185** |

---

ETF – Exchange-Traded Fund <br> PLC – Public Limited Company

---

| |
|:---|
| \*Non-income producing security. |
| <sup>1</sup>Foreign security denominated in U.S. Dollars. |
| <sup>2</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 $7,499,061 which represents 5.8% of total net assets of the Fund. |
| <sup>3</sup>The rate is the annualized seven-day 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:** ACR Equity International Fund

- **b. EDGAR series identifier (if any):** S000055968

- **c. LEI of Series:** 549300LKLR3V6NGNBF37

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-08-31

**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:** $130069043.82

**Total Liabilities:** $221005.91

**Net Assets:** $129848037.91

**Cash Not Reported:** $56847.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000176262 | 2.52%                | -1.00%               | 5.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-698.60                 | $2656162.27                                |
| Month 2  | $835672.52               | $-1953235.98                               |
| Month 3  | $80593.40                | $6047627.75                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Azelis Group NV                | Azelis Group N.V.                          | CUSIP: B0R5SJ106<br>LEI: 699400M9RRMTV264FM70 | Long             | EC               | CORP              | BE        |    308703 | NS      | $4604181.73   | 3.55%             |  |  |  | No            |                  2 | On Loan: No      |
| B&M European Value Retail SA   | B&M European Value Retail S.A.             | CUSIP: L1175H106<br>LEI: 213800UK7ZRLY2K1X530 | Long             | EC               | CORP              | GB        |   1738140 | NS      | $5653242.21   | 4.35%             |  |  |  | No            |                  2 | On Loan: No      |
| DCC PLC                        | DCC PLC                                    | CUSIP: G2689P101<br>LEI: 213800UPS1QEE4TD3T45 | Long             | EC               | CORP              | IE        |    141129 | NS      | $8974652.33   | 6.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurocell PLC                   | Eurocell PLC                               | CUSIP: G3143F101<br>LEI: 213800RH62IQ7S9OFQ55 | Long             | EC               | CORP              | GB        |   3790660 | NS      | $7172488.17   | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurofins Scientific SE         | Eurofins Scientific S.E.                   | CUSIP: L31839134<br>LEI: 529900JEHFM47DYY3S57 | Long             | EC               | CORP              | LU        |     58231 | NS      | $4421638.96   | 3.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Access Treasury  | Goldman Sachs Access Treasury 0-1 Year ETF | CUSIP: 381430529<br>LEI: 549300Q2J4ZAD8E71F28 | Long             |  | RF                | US        |     55279 | NS      | $5539508.59   | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| GBP SPOT FORWARD CONTRACT   /  | GBP SPOT FORWARD CONTRACT   /              | CUSIP: 999999999<br>LEI: N/A                  | Short            | STIV             |  | GB        |   -198614 | OU      | $-268433.29   | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| UMB IB MONEY MARKET II   /     | UMB IB MONEY MARKET II   /                 | CUSIP: SF8888627<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   3237394 | PA      | $3237393.51   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ISS A/S                        | ISS A/S                                    | CUSIP: K5591Y107<br>LEI: 213800LEZA58SZNCBN19 | Long             | EC               | CORP              | DK        |    200578 | NS      | $5866111.98   | 4.52%             |  |  |  | No            |                  2 | On Loan: No      |
| JD Sports Fashion PLC          | JD Sports Fashion PLC                      | CUSIP: G5144Y120<br>LEI: 213800HROV6Y9MUU8375 | Long             | EC               | CORP              | GB        |   5841131 | NS      | $7581865.40   | 5.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Liberty Global Ltd             | Liberty Global Ltd. - Class A              | CUSIP: G61188101<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | GB        |    544000 | NS      | $6386560.00   | 4.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Latin America Ltd      | Liberty Latin America Ltd. - Class C       | CUSIP: G9001E128<br>LEI: 213800YWQHEAX7CAVO83 | Long             | EC               | CORP              | US        |    498729 | NS      | $4109526.96   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Medmix AG                      | Medmix A.G.                                | CUSIP: H5316Q102<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |    230118 | NS      | $3090028.65   | 2.38%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Opmobility                     | Opmobility                                 | CUSIP: F73325106<br>LEI: 9695001VLC2KYXX0DW73 | Long             | EC               | CORP              | FR        |    502241 | NS      | $8099781.85   | 6.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Premium Brands Holdings Corp   | Premium Brands Holdings Corp.              | CUSIP: 74061A108<br>LEI: 529900F5EXPGUY8WV366 | Long             | EC               | CORP              | CA        |    129074 | NS      | $8877479.28   | 6.84%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 0-3 Month Treasury Bon | iShares 0-3 Month Treasury Bond ETF        | CUSIP: 46436E718<br>LEI: 549300L2T50TTT4U6186 | Long             |  | RF                | US        |     55000 | NS      | $5540700.00   | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Budweiser Brewing Co APAC Ltd  | Budweiser Brewing Co. APAC Ltd.            | CUSIP: G1674K101<br>LEI: 549300YF1MR4GTF18132 | Long             | EC               | CORP              | HK        |   4065844 | NS      | $4409032.42   | 3.40%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Ashtead Group PLC              | Ashtead Group PLC                          | CUSIP: G05320109<br>LEI: 2138007UTBN8X9K1A235 | Long             | EC               | CORP              | GB        |     89400 | NS      | $6586504.82   | 5.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Arrow Electronics Inc          | Arrow Electronics, Inc.                    | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |     41465 | NS      | $5238273.45   | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sodexo SA                      | Sodexo S.A.                                | CUSIP: F84941123<br>LEI: 969500LCBOG12HXPYM84 | Long             | EC               | CORP              | FR        |     80989 | NS      | $4862911.93   | 3.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Victoria PLC                   | Victoria PLC                               | CUSIP: G93509100<br>LEI: 2138002K6ECECHVCQN25 | Long             | EC               | CORP              | GB        |   1697000 | NS      | $1641266.66   | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Vodafone Group PLC             | Vodafone Group PLC - ADR ADR               | CUSIP: 92857W308<br>LEI: 213800TB53ELEUKM7Q61 | Long             |  | CORP              | GB        |    669724 | NS      | $8009899.04   | 6.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistry Group PLC               | Vistry Group PLC                           | CUSIP: G9424B107<br>LEI: 2138001KOWN7CG9SLK53 | Long             | EC               | CORP              | GB        |    932735 | NS      | $7702406.88   | 5.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Naked Wines PLC                | Naked Wines PLC                            | CUSIP: G6361W102<br>LEI: 213800IYPFIRRQQE9R62 | Long             | EC               | CORP              | GB        |   1280000 | NS      | $1574266.79   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-05

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

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

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

**Title:** President