# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001145549-25-053685
**Filing Date:** 2025-8
**Character Count:** 40209
**Document Hash:** c6e16459aa063af659b1fbcaeddb2bac
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-053685.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001145549-25-053685

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**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:** 251255507

**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

### Astoria Real Assets ETF (Series ID: S000074985)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000233574 | Astoria Real Assets ETF | PPI             |

## Nport-Ex

#### Astoria Real Assets ETF

#### SCHEDULE OF INVESTMENTS

#### As of June 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS — 80.6%** |  |
|  | **AEROSPACE/DEFENSE — 9.9%** |  |
| 6200 | IHI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$671314 |
| 1019 | Rheinmetall A.G. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2149487 |
| 207631 | Rolls-Royce Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2753085 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5573886** |
|  | **AUTO PARTS & EQUIPMENT — 0.5%** |  |
| 3228 | Allison Transmission Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**306628** |
|  | **BUILDING MATERIALS — 1.2%** |  |
| 5413 | Amrize Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269154 |
| 5413 | Holcim A.G. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400535 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**669689** |
|  | **CHEMICALS — 3.8%** |  |
| 5340 | Air Liquide S.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097840 |
| 11640 | CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2168720** |
|  | **COMMERCIAL SERVICES — 2.8%** |  |
| 2090 | United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1574606** |
|  | **COMPUTERS — 1.2%** |  |
| 4346 | Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**685625** |
|  | **ELECTRIC — 13.5%** |  |
| 36297 | AES Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381845 |
| 11365 | American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179232 |
| 5838 | Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1884273 |
| 4440 | DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588122 |
| 3580 | NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574876 |
| 28806 | PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401556 |
| 2489 | Talen Energy Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723727 |
| 5962 | Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155495 |
| 6568 | WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684386 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7573512** |
|  | **ELECTRICAL COMPONENTS & EQUIPMENT — 0.8%** |  |
| 8200 | Fujikura Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**429798** |
|  | **ENGINEERING & CONSTRUCTION — 3.6%** |  |
| 1184 | Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634873 |
| 1517 | EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811428 |
| 3433 | MasTec, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585086 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2031387** |

---

------

#### Astoria Real Assets ETF

#### SCHEDULE OF INVESTMENTS - Continued

#### As of June 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **INVESTMENT COMPANIES — 3.8%** |  |
| 92680 | Cleanspark, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1022260 |
| 14210 | Hut 8 Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264306 |
| 53464 | MARA Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838316 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2124882** |
|  | **IRON/STEEL — 5.4%** |  |
| 9568 | ATI, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826101 |
| 3376 | Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933059 |
| 9823 | Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257442 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3016602** |
|  | **MACHINERY-CONSTRUCTION & MINING — 6.8%** |  |
| 1804 | GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954587 |
| 82000 | Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049361 |
| 6236 | Vertiv Holdings Co. - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800765 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3804713** |
|  | **METAL FABRICATE/HARDWARE — 0.6%** |  |
| 4577 | Mueller Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**363734** |
|  | **MINING — 3.5%** |  |
| 4762 | Agnico Eagle Mines Ltd.<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566345 |
| 5773 | Cameco Corp.<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428530 |
| 11942 | Rio Tinto PLC - ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696577 |
| 41408 | Uranium Energy Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1973026** |
|  | **OIL & GAS — 10.9%** |  |
| 18702 | Canadian Natural Resources Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586622 |
| 7639 | ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685524 |
| 11622 | Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294966 |
| 9979 | Devon Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317432 |
| 4416 | EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528198 |
| 10439 | Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125324 |
| 20500 | Inpex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287393 |
| 23223 | Shell PLC - ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635131 |
| 10852 | Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405688 |
| 5650 | Tourmaline Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272045 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6138323** |
|  | **OIL & GAS SERVICES — 1.3%** |  |
| 12096 | Schlumberger N.V.<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408845 |
| 8697 | TechnipFMC PLC<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299524 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**708369** |

---

------

#### Astoria Real Assets ETF

#### SCHEDULE OF INVESTMENTS - Continued

#### As of June 30, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **PACKAGING & CONTAINERS — 0.8%** |  |
| 4329 | Crown Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$445800** |
|  | **PIPELINES — 0.9%** |  |
| 2092 | Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**509444** |
|  | **REAL ESTATE — 2.4%** |  |
| 7124 | CBRE Group, Inc. - Class A\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998215 |
| 1335 | Jones Lang LaSalle, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341466 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1339681** |
|  | **REITS — 6.2%** |  |
| 5088 | American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124550 |
| 112 | Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89092 |
| 2920 | Lamar Advertising Co. - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354371 |
| 2345 | SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550700 |
| 8542 | Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373212 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3491925** |
|  | **TRANSPORTATION — 0.7%** |  |
| 28300 | Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**400465** |
|  | **TOTAL COMMON STOCKS** |  |
|  | (Cost $37,087,851) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**45330815** |
|  | **EXCHANGE-TRADED FUNDS — 18.9%** |  |
| 920 | abrdn Physical Palladium Shares ETF\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92561 |
| 20916 | abrdn Physical Silver Shares ETF\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719720 |
| 20770 | F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040058 |
| 2922 | GraniteShares Platinum Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37986 |
| 22225 | iShares 0-5 Year TIPS Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2287175 |
| 57643 | Schwab U.S. TIPS ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537915 |
| 75222 | SPDR Gold MiniShares Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4928545 |
|  | **TOTAL EXCHANGE-TRADED FUNDS** |  |
|  | (Cost $9,494,235) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10643960** |
|  | **TOTAL INVESTMENTS — 99.5%** |  |
|  | (Cost $46,582,086) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**55974775** |
|  | 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;281725 |
|  | **TOTAL NET ASSETS — 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$56256500** |

---

PLC – Public Limited Company <br> ADR – American Depository Receipt <br> ETF – Exchange-Traded Fund

\*Non-income producing security. <br> <sup>1</sup>Foreign security denominated in U.S. Dollars.

## 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:** Astoria Real Assets ETF

- **b. EDGAR series identifier (if any):** S000074985

- **c. LEI of Series:** 5493001KW9J3YXBP6156

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $56270531.24

**Total Liabilities:** $13659.59

**Net Assets:** $56256871.65

**Cash Not Reported:** $37902.28

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000233574 | -0.14%               | 7.77%                | 5.59%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2567023.71             | $2458090.41                                |
| Month 2  | $708.54                  | $3744793.73                                |
| Month 3  | $189390.14               | $2738473.31                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| abrdn Palladium ETF Trust          | abrdn Palladium ETF Trust PHYSICAL PALLADIUM SHARES ETF       | CUSIP: 003262102<br>LEI: N/A                  | Long             | EC               | RF                | US        |       920 | NS      | $92561.20     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                            | ATI Inc COM USD0.10                                           | CUSIP: 01741R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9568 | NS      | $826101.12    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings Inc  | Allison Transmission Holdings Inc COM USD0.01                 | CUSIP: 01973R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3228 | NS      | $306627.72    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co, Inc.   | American Electric Power Co, Inc. COM USD6.50                  | CUSIP: 025537101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11365 | NS      | $1179232.40   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation         | American Tower Corporation COM USD0.01                        | CUSIP: 03027X100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5088 | NS      | $1124549.76   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc.                    | CBRE Group Inc. COM USD0.01 CLASS A                           | CUSIP: 12504L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7124 | NS      | $998214.88    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings, Inc.       | CF Industries Holdings, Inc. COM USD0.01                      | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     11640 | NS      | $1070880.00   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                 | Coterra Energy Inc COM USD0.10                                | CUSIP: 127097103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11622 | NS      | $294966.36    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corporation   | Carpenter Technology Corporation COM USD5                     | CUSIP: 144285103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3376 | NS      | $933058.88    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc                | Cheniere Energy Inc COM USD0.003                              | CUSIP: 16411R208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2092 | NS      | $509443.84    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CleanSpark Inc.                    | CleanSpark Inc. COM NEW                                       | CUSIP: 18452B209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     92680 | NS      | $1022260.40   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc.           | Comfort Systems USA Inc. COM USD0.01                          | CUSIP: 199908104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1184 | NS      | $634872.64    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                     | ConocoPhillips COM USD0.01                                    | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      7639 | NS      | $685523.86    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.         | Constellation Energy Corp. COM                                | CUSIP: 21037T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5838 | NS      | $1884272.88   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings Inc                 | Crown Holdings Inc COM USD5                                   | CUSIP: 228368106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4329 | NS      | $445800.42    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                     | DTE Energy Co. COM NPV                                        | CUSIP: 233331107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4440 | NS      | $588122.40    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corporation           | Devon Energy Corporation COM USD0.10                          | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |      9979 | NS      | $317431.99    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc.                 | EOG Resources Inc. COM USD0.01                                | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      4416 | NS      | $528197.76    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Emcor Group Inc                    | Emcor Group Inc COM STK USD0.01                               | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      1517 | NS      | $811428.13    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                      | Equinix, Inc. COM USD0.001                                    | CUSIP: 29444U700<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       112 | NS      | $89092.64     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                  | Exxon Mobil Corp. COM NPV                                     | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     10439 | NS      | $1125324.20   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc.                    | GE Vernova Inc. COM                                           | CUSIP: 36828A101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1804 | NS      | $954586.60    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Graniteshares Platinum Tr          | Graniteshares Platinum Tr SHS BEN INT                         | CUSIP: 38748T103<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2922 | NS      | $37986.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Limited | Canadian Natural Resources Limited COM NPV                    | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     18702 | NS      | $586621.91    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tourmaline Oil Corp.               | Tourmaline Oil Corp. COM NPV                                  | CUSIP: 89156V106<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      5650 | NS      | $272044.71    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc.                 | Suncor Energy Inc. COM NPV 'NEW'                              | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     10852 | NS      | $405687.45    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd             | Agnico Eagle Mines Ltd COM NPV                                | CUSIP: 008474108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      4762 | NS      | $566344.66    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corporation                 | Cameco Corporation COM NPV                                    | CUSIP: 13321L108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      5773 | NS      | $428529.79    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Limited               | Schlumberger Limited COM USD0.01                              | CUSIP: 806857108<br>LEI: N/A                  | Long             | EC               | CORP              | CW        |     12096 | NS      | $408844.80    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide S.A.(L')               | Air Liquide S.A.(L') EUR5.50                                  | CUSIP: F01764103<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |      5340 | NS      | $1097840.38   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG                     | Rheinmetall AG NPV                                            | CUSIP: D65111102<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |      1019 | NS      | $2149487.18   | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Fujikura Ltd.                      | Fujikura Ltd. NPV                                             | CUSIP: J14784128<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      8200 | NS      | $429798.19    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| IHI Corp.                          | IHI Corp. NPV                                                 | CUSIP: J2398N113<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      6200 | NS      | $671314.34    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kawasaki Kisen Kaisha Ltd.         | Kawasaki Kisen Kaisha Ltd. NPV                                | CUSIP: J31588148<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     28300 | NS      | $400465.23    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Heavy Industries Ltd.   | Mitsubishi Heavy Industries Ltd. NPV                          | CUSIP: J44002178<br>LEI: 353800TJ98PCAZROVE69 | Long             | EC               | CORP              | JP        |     82000 | NS      | $2049361.35   | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Inpex Corp.                        | Inpex Corp. NPV                                               | CUSIP: J2467E101<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     20500 | NS      | $287393.13    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                          | Holcim AG CHF2 (REGD)                                         | CUSIP: H3816Q102<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |      5413 | NS      | $400534.80    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Amrize Ltd.                        | Amrize Ltd. USD0.01                                           | CUSIP: H2927K103<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |      5413 | NS      | $269153.94    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings PLC           | Rolls-Royce Holdings PLC ORD GBP0.20                          | CUSIP: G76225104<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |    207631 | NS      | $2753084.53   | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                      | Rio Tinto PLC ADR EACH REP 1 ORD                              | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     11942 | NS      | $696576.86    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                          | Shell PLC SPON ADS                                            | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     23223 | NS      | $1635131.43   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                     | TechnipFMC PLC USD1                                           | CUSIP: G87110105<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      8697 | NS      | $299524.68    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| AES Corp.                          | AES Corp. COM USD0.01                                         | CUSIP: 00130H105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36297 | NS      | $381844.44    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Hut 8 Corp.                        | Hut 8 Corp. COM                                               | CUSIP: 44812J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14210 | NS      | $264306.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                      | iShares Trust 0-5 YR TIPS ETF                                 | CUSIP: 46429B747<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     22225 | NS      | $2287174.75   | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Incorporated    | Jones Lang LaSalle Incorporated COM USD0.01                   | CUSIP: 48020Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1335 | NS      | $341466.30    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Company          | Lamar Advertising Company COM USD0.001 CL A                   | CUSIP: 512816109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2920 | NS      | $354371.20    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                | Leidos Holdings Inc COM USD0.0001                             | CUSIP: 525327102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4346 | NS      | $685624.96    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Mara Holdings Inc                  | Mara Holdings Inc COM                                         | CUSIP: 565788106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53464 | NS      | $838315.52    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastec, Inc.                       | Mastec, Inc. COM USD0.10                                      | CUSIP: 576323109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3433 | NS      | $585086.19    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc.            | Mueller Industries Inc. COM USD0.01                           | CUSIP: 624756102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4577 | NS      | $363734.19    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                   | NRG Energy, Inc. COM USD0.01                                  | CUSIP: 629377508<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3580 | NS      | $574876.40    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corporation                   | PG&E Corporation COM NPV                                      | CUSIP: 69331C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28806 | NS      | $401555.64    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| RBB Fund Inc                       | RBB Fund Inc F/M ULTRASHORT TREAS INFLATION PROTECTED SEC ETF | CUSIP: 74933W213<br>LEI: N/A                  | Long             | EC               | RF                | US        |     20770 | NS      | $1040057.75   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp.           | SBA Communications Corp. COM USD0.01 CL A                     | CUSIP: 78410G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2345 | NS      | $550699.80    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Strategic Trust             | Schwab Strategic Trust US TIPS ETF                            | CUSIP: 808524870<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |     57643 | NS      | $1537915.24   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc           | Simon Property Group Inc COM USD0.0001                        | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      8542 | NS      | $1373211.92   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics, Inc.               | Steel Dynamics, Inc. COM STK USD0.01                          | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      9823 | NS      | $1257442.23   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Talen Energy Corporation           | Talen Energy Corporation COM                                  | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2489 | NS      | $723726.53    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.               | United Rentals, Inc. COM USD0.01                              | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      2090 | NS      | $1574606.00   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Uranium Energy Corp.               | Uranium Energy Corp. COM USD0.001                             | CUSIP: 916896103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41408 | NS      | $281574.40    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co                 | Vertiv Holdings Co COM CL A                                   | CUSIP: 92537N108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6236 | NS      | $800764.76    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                        | Vistra Corp COM USD0.01                                       | CUSIP: 92840M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5962 | NS      | $1155495.22   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc.              | WEC Energy Group Inc. COM USD0.01                             | CUSIP: 92939U106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6568 | NS      | $684385.60    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| World Gold Trust                   | World Gold Trust SPDR GLD MINIS                               | CUSIP: 98149E303<br>LEI: 549300DGCWLK8TGZ0C89 | Long             | EC               | RF                | US        |     75222 | NS      | $4928545.44   | 8.76%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn Silver ETF Trust             | abrdn Silver ETF Trust PHYSICAL SILVER SHARES ETF             | CUSIP: 003264108<br>LEI: N/A                  | Long             | EC               | RF                | US        |     20916 | NS      | $719719.56    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-08

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

**Signature:** /s/ Scott Schulenburg

**Name of Signer:** Scott Schulenburg

**Title:** President