# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001145549-23-007306
**Filing Date:** 2023-2
**Character Count:** 14578
**Document Hash:** c7fd1dc91564a9e39d39f6f483bae7ea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-007306.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001145549-23-007306

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20230930

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22894
- **FILM NUMBER:** 23649071

**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 Short De-SPAC Daily ETF (Series ID: S000076584)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000236569 | AXS Short De-SPAC Daily ETF | SOGU            |

## Nport-Ex

**AXS Short De-SPAC Daily ETF**

**SCHEDULE OF INVESTMENTS**

**As of December 31, 2022 (Unaudited)**

---

| | |
|:---|:---|
|  | Value |
| Other Assets in Excess of Liabilities — 100.0% | $12660323 |
| **TOTAL NET ASSETS — 100.0%** | $**12660323** |

---

**SWAP CONTRACTS**

**EQUITY SWAP CONTRACTS**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Description | Pay/Receive<br> Equity on<br> Reference Entity | Financing Rate | Pay/Receive<br> Frequency | Termination<br> Date | Notional<br> Amount | Premium<br> Paid<br> (Received) | Unrealized <br> Appreciation<br> (Depreciation) |
| Cowen | Algoma Steel Group, Inc. | Pay | 0.32% (OBFR01\* -400bps) | At Maturity | 8/8/2023 | $(544206) | $- | $(15578) |
| Cowen | Aurora Innovation, Inc. | Pay | 1.32% (OBFR01\* -300bps) | At Maturity | 8/8/2023 | (528628) |  | 477 |
| Cowen | Brc, Inc.Class A | Pay | -11.18% (OBFR01\* -1550bps) | At Maturity | 8/8/2023 | (535461) |  | (6668) |
| Cowen | Docgo, Inc. | Pay | 1.32% (OBFR01\* -300bps) | At Maturity | 8/8/2023 | (551370) |  | (29296) |
| Cowen | Energy Vault Holdings, Inc. | Pay | -4.68% (OBFR01\* -900bps) | At Maturity | 8/8/2023 | (558749) |  | (21553) |
| Cowen | Ess Tech, Inc. | Pay | -2.68% (OBFR01\* -700bps) | At Maturity | 8/8/2023 | (525237) |  | 9462 |
| Cowen | Gogoro, Inc. | Pay | -19.68% (OBFR01\* -2400bps) | At Maturity | 8/8/2023 | (528348) |  | 51161 |
| Cowen | Grab Holdings Ltd. - Class A | Pay | 3.07% (OBFR01\* -125bps) | At Maturity | 8/8/2023 | (544873) |  | (32216) |
| Cowen | Ionq, Inc. | Pay | -0.18% (OBFR01\* -450bps) | At Maturity | 8/8/2023 | (493726) |  | 76921 |
| Cowen | Mirion Technologies, Inc. | Pay | 1.82% (OBFR01\* -250bps) | At Maturity | 8/8/2023 | (555437) |  | (53001) |
| Cowen | Navitas Semiconductor Corp. | Pay | 1.07% (OBFR01\* -325bps) | At Maturity | 8/8/2023 | (488955) |  | 53231 |
| Cowen | Nextdoor Holdings, Inc. | Pay | 1.57% (OBFR01\* -275bps) | At Maturity | 8/8/2023 | (516684) |  | (21946) |
| Cowen | Nextnav, Inc. | Pay | -11.93% (OBFR01\* -1625bps) | At Maturity | 8/8/2023 | (559162) |  | (19613) |
| Cowen | Nuscale Power Corp. | Pay | -23.68% (OBFR01\* -2800bps) | At Maturity | 8/8/2023 | (525133) |  | 9999 |
| Cowen | Polestar Automotive - Class A ADS | Pay | -125.68% (OBFR01\* -13000bps) | At Maturity | 8/8/2023 | (496929) |  | 18727 |
| Cowen | Rigetti Computing, Inc. | Pay | -13.43% (OBFR01\* -1775bps) | At Maturity | 8/8/2023 | (532646) |  | 133341 |
| Cowen | Roivant Sciences Ltd. | Pay | -1.43% (OBFR01\* -575bps) | At Maturity | 8/8/2023 | (515754) |  | (102034) |
| Cowen | Ses Ai Corp. | Pay | -2.93% (OBFR01\* -725bps) | At Maturity | 8/8/2023 | (532613) |  | 83951 |
| Cowen | Sonder Holdings, Inc. | Pay | -4.18% (OBFR01\* -850bps) | At Maturity | 8/8/2023 | (508637) |  | 32645 |
| Cowen | Super Group Sghc Ltd. | Pay | -16.68% (OBFR01\* -2100bps) | At Maturity | 8/8/2023 | (511556) |  | (13922) |
| Cowen | Terran Orbital Corp. | Pay | -24.68% (OBFR01\* -2900bps) | At Maturity | 8/8/2023 | (505495) |  | (19146) |
| Cowen | Vacasa, Inc. - Class A | Pay | 0.57% (OBFR01\* -375bps) | At Maturity | 8/8/2023 | (515519) |  | (25726) |
| Cowen | Vicarious Surgical, Inc. | Pay | 3.82% (OBFR01\* -50bps) | At Maturity | 8/8/2023 | (487889) |  | 48809 |
| Cowen | Vivid Seats, Inc. - Class A | Pay | 0.32% (OBFR01\* -400bps) | At Maturity | 8/8/2023 | (554573) |  | 11847 |
| Cowen | Wework, Inc. - Class A | Pay | -0.68% (OBFR01\* -500bps) | At Maturity | 8/8/2023 | (479018) |  | 75905 |
| **TOTAL EQUITY SWAP CONTRACTS** | **TOTAL EQUITY SWAP CONTRACTS** | **TOTAL EQUITY SWAP CONTRACTS** | **TOTAL EQUITY SWAP CONTRACTS** | **TOTAL EQUITY SWAP CONTRACTS** |  |  |  | $**245777** |

---

<sup>\*</sup> OBFR01 - Overnight Bank Funding Rate, 4.32% as of December 31, 2022.

## 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 Short De-SPAC Daily ETF

- **b. EDGAR series identifier (if any):** S000076584

- **c. LEI of Series:** 549300K1FEJ3DX9PJL40

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

- **a. Date of fiscal year-end:** 2023-09-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $58053115.00

**Total Liabilities:** $45390840.76

**Net Assets:** $12662274.24

**Cash Not Reported:** $15240755.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000236569 | -7.61%               | 5.04%                | -25.11%              |

**Monthly Gains & Losses**

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

**Designated Index Information**

- **Index Name:** The De-SPAC Index

- **Index Identifier:** DESPACTR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CFD ROIVANT SCIENCES LTD         | CFD ROIVANT SCIENCES LTD         | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |    -79266 | NC      | $-105594.88   | -0.83%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD ALGOMA STEEL GROUP INC       | CFD ALGOMA STEEL GROUP INC       | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |    -90516 | NC      | $-15444.43    | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD GOGORO INC                   | CFD GOGORO INC                   | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -153703 | NC      | $51726.65     | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD GRAB HOLDINGS LTD - CL A     | CFD GRAB HOLDINGS LTD - CL A     | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -183731 | NC      | $-34200.59    | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD SUPER GROUP SGHC LTD         | CFD SUPER GROUP SGHC LTD         | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -179569 | NC      | $-13525.71    | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD POLESTAR AUTOMOTIVE-CL A ADS | CFD POLESTAR AUTOMOTIVE-CL A ADS | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |    -92324 | NC      | $22443.33     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD DOCGO INC                    | CFD DOCGO INC                    | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |    -84198 | NC      | $-29833.93    | -0.24%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD VIVID SEATS INC - CLASS A    | CFD VIVID SEATS INC - CLASS A    | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |    -76218 | NC      | $11741.72     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD SONDER HOLDINGS INC          | CFD SONDER HOLDINGS INC          | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -393524 | NC      | $36413.30     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD AURORA INNOVATION INC        | CFD AURORA INNOVATION INC        | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -447474 | NC      | $1307.47      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD NEXTDOOR HOLDINGS INC        | CFD NEXTDOOR HOLDINGS INC        | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -268052 | NC      | $-22077.73    | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD MIRION TECHNOLOGIES INC      | CFD MIRION TECHNOLOGIES INC      | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |    -94365 | NC      | $-54344.43    | -0.43%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD NAVITAS SEMICONDUCTOR CORP   | CFD NAVITAS SEMICONDUCTOR CORP   | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -127263 | NC      | $55168.03     | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD WEWORK INC-CL A              | CFD WEWORK INC-CL A              | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -288994 | NC      | $82504.74     | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD TERRAN ORBITAL CORP          | CFD TERRAN ORBITAL CORP          | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -340410 | NC      | $-16220.92    | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD RIGETTI COMPUTING INC        | CFD RIGETTI COMPUTING INC        | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -560021 | NC      | $141403.10    | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD BRC INC-A                    | CFD BRC INC-A                    | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |    -90962 | NC      | $-7092.06     | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD VACASA INC -CL A             | CFD VACASA INC -CL A             | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -440372 | NC      | $-25512.10    | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD NEXTNAV INC                  | CFD NEXTNAV INC                  | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -202506 | NC      | $-18613.75    | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD NUSCALE POWER CORP           | CFD NUSCALE POWER CORP           | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |    -51472 | NC      | $10618.56     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD ENERGY VAULT HOLDINGS INC    | CFD ENERGY VAULT HOLDINGS INC    | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -190676 | NC      | $-18188.49    | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| CFD IONQ INC                     | CFD IONQ INC                     | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -123854 | NC      | $81391.52     | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD VICARIOUS SURGICAL INC       | CFD VICARIOUS SURGICAL INC       | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -222838 | NC      | $51270.88     | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD ESS TECH INC                 | CFD ESS TECH INC                 | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -217595 | NC      | $10274.48     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| CFD SES AI CORP                  | CFD SES AI CORP                  | CUSIP: 000000000<br>LEI: N/A | N/A              | DE               |  | US        |   -146018 | NC      | $88320.49     | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-09

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

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

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

**Title:** President