# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001145549-25-053065
**Filing Date:** 2025-8
**Character Count:** 67060
**Document Hash:** cfb5fd1298e399577c9a2c8395b2e608
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-053065.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001145549-25-053065

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20250930

**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:** 251249192

**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 FTSE Venture Capital Return Tracker Fund (Series ID: S000069733)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000222489 | Class C Shares | LDVCX           |
| C000222490 | Class I Shares | LDVIX           |
| C000222491 | Class A Shares | LDVAX           |

## Nport-Ex

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS — 91.6%** |  |
|  | **AEROSPACE/DEFENSE — 1.2%** |  |
| 1659 | Boeing Co.\* | $347611 |
| 2203 | General Electric Co. | 567030 |
| 2758 | RTX Corp. | 402723 |
|  |  | **1317364** |
|  | **AGRICULTURE — 0.3%** |  |
| 1485 | Altria Group, Inc. | 87066 |
| 1178 | Philip Morris International, Inc. | 214549 |
|  |  | **301615** |
|  | **AUTO MANUFACTURERS — 0.1%** |  |
| 210 | Tesla, Inc.\* | **66709** |
|  | **BANKS — 1.4%** |  |
| 6207 | Bank of America Corp. | 293715 |
| 265 | Goldman Sachs Group, Inc. | 187554 |
| 2508 | JPMorgan Chase & Co. | 727094 |
| 1114 | Morgan Stanley | 156918 |
| 2783 | Wells Fargo & Co. | 222974 |
|  |  | **1588255** |
|  | **BEVERAGES — 0.4%** |  |
| 3660 | Coca-Cola Co. | 258945 |
| 655 | Monster Beverage Corp.\* | 41029 |
| 1217 | PepsiCo, Inc. | 160693 |
|  |  | **460667** |
|  | **BIOTECHNOLOGY — 0.1%** |  |
| 108 | Amgen, Inc. | 30154 |
| 694 | Corteva, Inc. | 51724 |
|  |  | **81878** |
|  | **BUILDING MATERIALS — 0.1%** |  |
| 62 | Martin Marietta Materials, Inc. | 34035 |
| 124 | Vulcan Materials Co. | 32342 |
|  |  | **66377** |
|  | **CHEMICALS — 0.4%** |  |
| 212 | Air Products and Chemicals, Inc. | 59797 |
| 273 | Ecolab, Inc. | 73557 |
| 505 | Linde PLC<sup>1</sup> | 236936 |
| 228 | PPG Industries, Inc. | 25935 |
| 250 | Sherwin-Williams Co. | 85840 |
|  |  | **482065** |

---

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **COMMERCIAL SERVICES — 2.4%** |  |
| 5432 | Automatic Data Processing, Inc.<sup>2</sup> | $1675229 |
| 712 | S&P Global, Inc. | 375430 |
| 1873 | Verisk Analytics, Inc. - Class A | 583440 |
|  |  | **2634099** |
|  | **COMPUTERS — 8.8%** |  |
| 8447 | Accenture PLC<sup>1</sup> | 2524724 |
| 4055 | Apple, Inc.<sup>2</sup> | 831964 |
| 3521 | Crowdstrike Holdings, Inc. - Class A<sup>\*,2</sup> | 1793281 |
| 9065 | Fortinet, Inc.<sup>\*,2</sup> | 958352 |
| 12380 | International Business Machines Corp.<sup>2</sup> | 3649376 |
|  |  | **9757697** |
|  | **COSMETICS/PERSONAL CARE — 0.4%** |  |
| 720 | Colgate-Palmolive Co. | 65448 |
| 2082 | Procter & Gamble Co. | 331704 |
|  |  | **397152** |
|  | **DISTRIBUTION/WHOLESALE — 0.6%** |  |
| 12898 | Copart, Inc.\* | **632905** |
|  | **DIVERSIFIED FINANCIAL SERVICES — 8.6%** |  |
| 491 | American Express Co. | 156619 |
| 2985 | Coinbase Global, Inc. - Class A\* | 1046213 |
| 7362 | Mastercard, Inc. - Class A<sup>2</sup> | 4137002 |
| 11805 | Visa, Inc. - Class A<sup>2</sup> | 4191365 |
|  |  | **9531199** |
|  | **ELECTRIC — 0.0%** |  |
| 88 | Duke Energy Corp. | 10384 |
| 235 | NextEra Energy, Inc. | 16314 |
| 124 | Southern Co. | 11387 |
|  |  | **38085** |
|  | **ELECTRICAL COMPONENTS & EQUIPMENT — 0.3%** |  |
| 909 | Eaton Corp. PLC<sup>1</sup> | **324504** |
|  | **ELECTRONICS — 0.3%** |  |
| 1508 | Honeywell International, Inc. | **351183** |
|  | **FOOD — 0.1%** |  |
| 1148 | Mondelez International, Inc. | **77421** |
|  | **HEALTHCARE-PRODUCTS — 2.5%** |  |
| 3471 | Abbott Laboratories | 472091 |

---

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **HEALTHCARE-PRODUCTS (Continued)** |  |
| 571 | Agilent Technologies, Inc. | $67384 |
| 2711 | Boston Scientific Corp.\* | 291188 |
| 1417 | Danaher Corp. | 279914 |
| 1177 | Edwards Lifesciences Corp.\* | 92053 |
| 780 | GE HealthCare Technologies, Inc. | 57775 |
| 159 | IDEXX Laboratories, Inc.\* | 85278 |
| 717 | Intuitive Surgical, Inc.\* | 389625 |
| 2567 | Medtronic PLC<sup>1</sup> | 223765 |
| 285 | Natera, Inc.\* | 48148 |
| 291 | ResMed, Inc. | 75078 |
| 195 | STERIS PLC<sup>1</sup> | 46843 |
| 764 | Stryker Corp. | 302261 |
| 795 | Thermo Fisher Scientific, Inc. | 322341 |
|  |  | **2753744** |
|  | **HEALTHCARE-SERVICES — 1.1%** |  |
| 930 | Centene Corp.\* | 50481 |
| 571 | Cigna Group | 188761 |
| 453 | Elevance Health, Inc. | 176199 |
| 373 | HCA Healthcare, Inc. | 142896 |
| 239 | Humana, Inc. | 58431 |
| 1831 | UnitedHealth Group, Inc.<sup>2</sup> | 571217 |
|  |  | **1187985** |
|  | **HOUSEHOLD PRODUCTS/WARES — 0.0%** |  |
| 291 | Kimberly-Clark Corp. | **37516** |
|  | **INSURANCE — 1.9%** |  |
| 3988 | Berkshire Hathaway, Inc. - Class B<sup>\*,2</sup> | 1937251 |
| 500 | Progressive Corp. | 133430 |
|  |  | **2070681** |
|  | **INTERNET — 22.5%** |  |
| 6148 | Airbnb, Inc. - Class A\* | 813626 |
| 25102 | Alphabet, Inc. - Class A<sup>2</sup> | 4423725 |
| 723 | Amazon.com, Inc.\* | 158619 |
| 5153 | DoorDash, Inc. - Class A\* | 1270266 |
| 612 | MercadoLibre, Inc.\* | 1599542 |
| 6658 | Meta Platforms, Inc.<sup>2</sup> | 4914203 |
| 3571 | Netflix, Inc.<sup>\*,2</sup> | 4782033 |
| 8934 | Palo Alto Networks, Inc.<sup>\*,2</sup> | 1828254 |
| 10362 | Robinhood Markets, Inc. - Class A\* | 970194 |
| 2035 | Spotify Technology S.A.<sup>\*,1</sup> | 1561537 |

---

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **INTERNET (Continued)** |  |
| 27920 | Uber Technologies, Inc.<sup>\*,2</sup> | $2604936 |
|  |  | **24926935** |
|  | **MACHINERY-CONSTRUCTION & MINING — 0.4%** |  |
| 1054 | Caterpillar, Inc. | **409173** |
|  | **MACHINERY-DIVERSIFIED — 0.3%** |  |
| 573 | Deere & Co. | **291365** |
|  | **MEDIA — 0.1%** |  |
| 63 | Charter Communications, Inc. - Class A\* | 25755 |
| 2289 | Comcast Corp. - Class A | 81694 |
| 186 | Liberty Global Ltd. - Class A<sup>\*,1</sup> | 1862 |
|  |  | **109311** |
|  | **MINING — 0.1%** |  |
| 1459 | Freeport-McMoRan, Inc. | 63248 |
| 1133 | Newmont Corp. | 66008 |
|  |  | **129256** |
|  | **OIL & GAS — 0.5%** |  |
| 1053 | Chevron Corp. | 150779 |
| 764 | ConocoPhillips | 68561 |
| 287 | EOG Resources, Inc. | 34328 |
| 2650 | Exxon Mobil Corp. | 285670 |
| 190 | Marathon Petroleum Corp. | 31561 |
| 249 | Phillips 66 | 29706 |
|  |  | **600605** |
|  | **PHARMACEUTICALS — 0.7%** |  |
| 355 | AbbVie, Inc. | 65895 |
| 575 | Becton Dickinson & Co. | 99044 |
| 363 | Cencora, Inc. | 108846 |
| 2656 | CVS Health Corp. | 183211 |
| 777 | Dexcom, Inc.\* | 67824 |
| 168 | Eli Lilly & Co. | 130961 |
| 483 | Johnson & Johnson | 73778 |
| 501 | Merck & Co., Inc. | 39659 |
|  |  | **769218** |
|  | **PIPELINES — 0.1%** |  |
| 144 | Cheniere Energy, Inc. | 35067 |
| 1186 | Kinder Morgan, Inc. | 34868 |
| 377 | ONEOK, Inc. | 30775 |

---

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **PIPELINES (Continued)** |  |
| 738 | Williams Cos., Inc. | $46354 |
|  |  | **147064** |
|  | **RETAIL — 0.4%** |  |
| 32 | Costco Wholesale Corp. | 31678 |
| 75 | Home Depot, Inc. | 27498 |
| 4121 | Walmart, Inc. | 402951 |
|  |  | **462127** |
|  | **SEMICONDUCTORS — 1.4%** |  |
| 414 | Advanced Micro Devices, Inc.\* | 58747 |
| 127 | Analog Devices, Inc. | 30228 |
| 206 | Applied Materials, Inc. | 37712 |
| 1204 | Broadcom, Inc. | 331883 |
| 6579 | NVIDIA Corp. | 1039416 |
| 280 | QUALCOMM, Inc. | 44593 |
| 231 | Texas Instruments, Inc. | 47960 |
|  |  | **1590539** |
|  | **SOFTWARE — 33.4%** |  |
| 5690 | Adobe, Inc.<sup>\*,2</sup> | 2201347 |
| 4129 | AppLovin Corp. - Class A\* | 1445480 |
| 2329 | Atlassian Corp. - Class A\* | 472997 |
| 2874 | Autodesk, Inc.<sup>\*,2</sup> | 889704 |
| 3662 | Cadence Design Systems, Inc.<sup>\*,2</sup> | 1128445 |
| 326 | Fair Isaac Corp.\* | 595915 |
| 6696 | Fidelity National Information Services, Inc.<sup>2</sup> | 545121 |
| 3772 | Intuit, Inc.<sup>2</sup> | 2970940 |
| 9365 | Microsoft Corp.<sup>2</sup> | 4658245 |
| 3276 | MicroStrategy, Inc. - Class A\* | 1324257 |
| 23499 | Oracle Corp.<sup>2</sup> | 5137586 |
| 30043 | Palantir Technologies, Inc. - Class A\* | 4095462 |
| 8264 | ROBLOX Corp. - Class A\* | 869373 |
| 1433 | Roper Technologies, Inc.<sup>2</sup> | 812282 |
| 12967 | Salesforce, Inc.<sup>2</sup> | 3535971 |
| 2780 | ServiceNow, Inc.<sup>\*,2</sup> | 2858062 |
| 4745 | Snowflake, Inc.<sup>\*,2</sup> | 1061789 |
| 2064 | Synopsys, Inc.<sup>\*,2</sup> | 1058172 |
| 2356 | Take-Two Interactive Software, Inc.\* | 572155 |
| 315 | Veeva Systems, Inc. - Class A\* | 90714 |
| 2901 | Workday, Inc. - Class A<sup>\*,2</sup> | 696240 |
|  |  | **37020257** |
|  | **TELECOMMUNICATIONS — 0.4%** |  |
| 289 | Arista Networks, Inc.\* | 29567 |

---

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **TELECOMMUNICATIONS (Continued)** |  |
| 119 | AST SpaceMobile, Inc. - Class A\* | $5561 |
| 4138 | AT&T, Inc. | 119754 |
| 1019 | Cisco Systems, Inc. | 70698 |
| 132 | Frontier Communications Parent, Inc.\* | 4805 |
| 63 | Millicom International Cellular S.A.<sup>1</sup> | 2361 |
| 53 | Telephone and Data Systems, Inc. | 1886 |
| 284 | T-Mobile US, Inc. | 67666 |
| 2427 | Verizon Communications, Inc. | 105016 |
|  |  | **407314** |
|  | **TRANSPORTATION — 0.3%** |  |
| 1391 | Union Pacific Corp. | **320041** |
|  | **TOTAL COMMON STOCKS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $61,918,063) | **101342306** |

---

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  |  |
|  | **SHORT-TERM INVESTMENTS — 5.5%** |  |
| 6091339 | UMB Bank, Institutional Banking Money Market II Deposit Investment, 3.80%<sup>3</sup> | **6091339** |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $6,091,339) | **6091339** |
|  | **TOTAL INVESTMENTS — 97.1%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $68,009,402) | **107433645** |
|  | Other Assets in Excess of Liabilities — 2.9% | 3249782 |
|  | **TOTAL NET ASSETS — 100.0%** | $**110683427** |

---

PLC – Public Limited Company

\* Non-income producing security.

<sup>1</sup> Foreign security denominated in U.S. Dollars.

<sup>2</sup> All or a portion of this security is segregated as collateral for swap agreement. As of June 30, 2025, the aggregate value of those securities was $33,015,750, representing 29.8% of net assets.

<sup>3</sup> The rate is the annualized seven-day yield at period end.

**AXS FTSE Venture Capital Return Tracker Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

**SWAP CONTRACTS**

**EQUITY SWAP CONTRACTS**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Fund Pays | Fund Receives | Pay/Receive<br> Frequency | Termination<br> Date | Notional<br> Amount | Premium<br> Paid<br> (Received) | Unrealized<br> Appreciation<br> (Depreciation) |
| &nbsp;&nbsp;&nbsp;BNP Paribas BNP Paribas Index Swap<sup>1</sup> | 0.50% | Index Return | Monthly | 7/2/25 | $103896806 | $5311 | $865326 |
| &nbsp;&nbsp;&nbsp;BNP Paribas BNP Paribas Equity Basket Swap<sup>2</sup> | 1-Month Federal Funds + 0.85% | Basket Return | Monthly | 7/2/25 | 53607865 | 2036 | 2556389 |
| **TOTAL EQUITY SWAP CONTRACTS** | **TOTAL EQUITY SWAP CONTRACTS** | **TOTAL EQUITY SWAP CONTRACTS** |  |  |  |  | $**3421715** |

---

<sup>1</sup> The BNP Paribas Index Swap is made up of the NASDAQ 100 Total Return Index and the S&P 500 Total Return Index and exposure to each index was 213.88% and (213.88)%, respectively.

<sup>2</sup> BNP Paribas Equity Basket Swap Top 50 Holdings^

---

| | | | |
|:---|:---|:---|:---|
| Number of<br> Shares | Description | Value | Percentage of Equity<br> Swap's Notional Amount |
| 12472 | Oracle Corp. | $2726753 | 5.09% |
| 3534 | Meta Platforms, Inc. | 2608410 | 4.87% |
| 1895 | Netflix, Inc. | 2537651 | 4.73% |
| 4970 | Microsoft Corp. | 2472128 | 4.61% |
| 13323 | Alphabet, Inc. - Class A | 2347912 | 4.38% |
| 6266 | Visa, Inc. - Class A | 2224743 | 4.15% |
| 3907 | Mastercard, Inc. - Class A | 2195500 | 4.10% |
| 15946 | Palantir Technologies, Inc. - Class A | 2173759 | 4.05% |
| 6571 | International Business Machines Corp. | 1936999 | 3.61% |
| 6882 | Salesforce, Inc. | 1876653 | 3.50% |
| 2002 | Intuit, Inc. | 1576835 | 2.94% |
| 1475 | ServiceNow, Inc. | 1516418 | 2.83% |
| 14819 | Uber Technologies, Inc. | 1382613 | 2.58% |
| 4483 | Accenture PLC | 1339924 | 2.50% |
| 3020 | Adobe, Inc. | 1168378 | 2.18% |
| 2117 | Berkshire Hathaway, Inc. - Class B | 1028375 | 1.92% |
| 4742 | Palo Alto Networks, Inc. | 970403 | 1.81% |
| 1869 | Crowdstrike Holdings, Inc. - Class A | 951900 | 1.78% |
| 2883 | Automatic Data Processing, Inc. | 889117 | 1.66% |
| 325 | MercadoLibre, Inc. | 849430 | 1.58% |
| 1080 | Spotify Technology S.A. | 828727 | 1.55% |
| 2191 | AppLovin Corp. - Class A | 767025 | 1.43% |
| 1739 | MicroStrategy, Inc. - Class A | 702956 | 1.31% |
| 2735 | DoorDash, Inc. - Class A | 674205 | 1.26% |
| 1944 | Cadence Design Systems, Inc. | 599044 | 1.12% |
| 2519 | Snowflake, Inc. | 563677 | 1.05% |
| 1096 | Synopsys, Inc. | 561897 | 1.05% |
| 1584 | Coinbase Global, Inc. - Class A | 555176 | 1.04% |
| 3492 | NVIDIA Corp. | 551701 | 1.03% |
| 5500 | Robinhood Markets, Inc. - Class A | 514965 | 0.96% |
| 4811 | Fortinet, Inc. | 508619 | 0.95% |
| 1525 | Autodesk, Inc. | 472094 | 0.88% |
| 4386 | ROBLOX Corp. - Class A | 461407 | 0.86% |
| 2152 | Apple, Inc. | 441526 | 0.82% |
| 3263 | Airbnb, Inc. - Class A | 431825 | 0.81% |
| 761 | Roper Technologies, Inc. | 431365 | 0.80% |
| 1331 | JPMorgan Chase & Co. | 385870 | 0.72% |
| 1540 | Workday, Inc. - Class A | 369600 | 0.69% |
| 6846 | Copart, Inc. | 335933 | 0.63% |
| 173 | Fair Isaac Corp. | 316237 | 0.59% |
| 994 | Verisk Analytics, Inc. - Class A | 309631 | 0.58% |
| 1251 | Take-Two Interactive Software, Inc. | 303805 | 0.57% |
| 972 | UnitedHealth Group, Inc. | 303235 | 0.57% |
| 1169 | General Electric Co. | 300889 | 0.56% |
| 3554 | Fidelity National Information Services, Inc. | 289331 | 0.54% |
| 1236 | Atlassian Corp. - Class A | 251019 | 0.47% |
| 1842 | Abbott Laboratories | 250530 | 0.47% |
| 559 | Caterpillar, Inc. | 217009 | 0.40% |
| 2187 | Walmart, Inc. | 213845 | 0.40% |
| 1464 | RTX Corp. | 213773 | 0.40% |

---

^ These investments are not direct holdings of the Fund. The holdings were determined based on the absolute notional values of the positions within the underlying swap basket.

## 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 FTSE Venture Capital Return Tracker Fund

- **b. EDGAR series identifier (if any):** S000069733

- **c. LEI of Series:** 549300W2M0C1HHKJ9U18

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

- **a. Date of fiscal year-end:** 2025-09-30

- **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:** $111235295.57

**Total Liabilities:** $493065.65

**Net Assets:** $110742229.92

**Cash Not Reported:** $71846.66

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222489 | 7.11%                | 13.96%               | 9.26%                |
| Class ID C000222490 | 7.16%                | 14.06%               | 9.32%                |
| Class ID C000222491 | 7.12%                | 14.05%               | 9.33%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $978290.06               | $2066563.18                                |
| Month 2  | $1268929.74              | $5256100.27                                |
| Month 3  | $457721.83               | $5082662.31                                |

**Designated Index Information**

- **Index Name:** Refinitiv Venture Capital Index

- **Index Identifier:** TRVCI

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AT&T Inc                           | AT&T, Inc.                                   | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      4138 | NS      | $119753.72    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Telephone and Data Systems Inc     | Telephone and Data Systems, Inc.             | CUSIP: 879433829<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        53 | NS      | $1885.74      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corp                     | Atlassian Corp. - Class A                    | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | AU        |      2329 | NS      | $472996.61    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Millicom International Cellula     | Millicom International Cellular S.A.         | CUSIP: L6388F110<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |        63 | NS      | $2360.61      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc       | Thermo Fisher Scientific, Inc.               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       795 | NS      | $322340.70    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                    | T-Mobile US, Inc.                            | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       284 | NS      | $67665.84     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                          | Tesla, Inc.                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |       210 | NS      | $66708.60     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software      | Take-Two Interactive Software, Inc.          | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      2356 | NS      | $572154.60    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc              | Texas Instruments, Inc.                      | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |       231 | NS      | $47960.22     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc              | Uber Technologies, Inc.                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     27920 | NS      | $2604936.00   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc             | UnitedHealth Group, Inc.                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1831 | NS      | $571217.07    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                 | Union Pacific Corp.                          | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      1391 | NS      | $320041.28    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                           | Visa, Inc. - Class A                         | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     11805 | NS      | $4191365.25   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                  | Veeva Systems, Inc. - Class A                | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |       315 | NS      | $90713.70     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co                | Vulcan Materials Co.                         | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |       124 | NS      | $32341.68     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc               | Verisk Analytics, Inc.                       | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      1873 | NS      | $583439.50    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc         | Verizon Communications, Inc.                 | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      2427 | NS      | $105016.29    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                        | Workday, Inc. - Class A                      | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      2901 | NS      | $696240.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                   | Wells Fargo & Co.                            | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      2783 | NS      | $222973.96    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The               | Williams Cos., Inc.                          | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |       738 | NS      | $46353.78     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                        | Walmart, Inc.                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      4121 | NS      | $402951.38    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                   | Exxon Mobil Corp.                            | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      2650 | NS      | $285670.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries Inc                 | PPG Industries, Inc.                         | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |       228 | NS      | $25935.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                        | Phillips 66                                  | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |       249 | NS      | $29705.70     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                       | QUALCOMM, Inc.                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |       280 | NS      | $44592.80     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX Corp                        | ROBLOX Corp. - Class A                       | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8264 | NS      | $869372.80    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                       | Newmont Corp.                                | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      1133 | NS      | $66008.58     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                          | ONEOK, Inc.                                  | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |       377 | NS      | $30774.51     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc                         | ResMed, Inc.                                 | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |       291 | NS      | $75078.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc             | Roper Technologies, Inc.                     | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      1433 | NS      | $812281.72    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                        | Oracle Corp.                                 | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     23499 | NS      | $5137586.37   | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc             | Palo Alto Networks, Inc.                     | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      8934 | NS      | $1828253.76   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                           | RTX Corp.                                    | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      2758 | NS      | $402723.16    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The            | Sherwin-Williams Co.                         | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       250 | NS      | $85840.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                        | PepsiCo, Inc.                                | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      1217 | NS      | $160692.68    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The            | Procter & Gamble Co.                         | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      2082 | NS      | $331704.24    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                      | Snowflake, Inc. - Class A                    | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      4745 | NS      | $1061788.65   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                       | Synopsys, Inc.                               | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      2064 | NS      | $1058171.52   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The               | Progressive Corp.                            | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |       500 | NS      | $133430.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc          | Palantir Technologies, Inc. - Class A        | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     30043 | NS      | $4095461.76   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                    | Southern Co.                                 | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |       124 | NS      | $11386.92     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                     | S&P Global, Inc.                             | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       712 | NS      | $375430.48    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International In     | Philip Morris International, Inc.            | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      1178 | NS      | $214549.14    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA              | Spotify Technology S.A.                      | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |      2035 | NS      | $1561536.90   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                         | STERIS PLC                                   | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       195 | NS      | $46842.90     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                       | Stryker Corp.                                | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |       764 | NS      | $302261.32    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                   | MercadoLibre, Inc.                           | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |       612 | NS      | $1599541.56   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                 | Meta Platforms, Inc. - Class A               | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      6658 | NS      | $4914203.22   | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc      | Martin Marietta Materials, Inc.              | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |        62 | NS      | $34035.52     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp              | Monster Beverage Corp.                       | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |       655 | NS      | $41029.20     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc           | Agilent Technologies, Inc.                   | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |       571 | NS      | $67383.71     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                          | Apple, Inc.                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      4055 | NS      | $831964.35    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                         | AbbVie, Inc.                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |       355 | NS      | $65895.10     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                         | Airbnb, Inc. - Class A                       | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      6148 | NS      | $813626.32    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                | Abbott Laboratories                          | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      3471 | NS      | $472090.71    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                      | Accenture PLC - Class A                      | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      8447 | NS      | $2524723.83   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                          | Adobe, Inc.                                  | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      5690 | NS      | $2201347.20   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc                 | Analog Devices, Inc.                         | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |       127 | NS      | $30228.54     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing Inc      | Automatic Data Processing, Inc.              | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      5432 | NS      | $1675228.80   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                       | Autodesk, Inc.                               | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      2874 | NS      | $889704.18    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc              | Applied Materials, Inc.                      | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |       206 | NS      | $37712.42     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc         | Advanced Micro Devices, Inc.                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |       414 | NS      | $58746.60     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                          | Amgen, Inc.                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       108 | NS      | $30154.68     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                     | Amazon.com, Inc.                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |       723 | NS      | $158618.97    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                     | ConocoPhillips                               | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |       764 | NS      | $68561.36     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                        | Cencora, Inc.                                | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |       363 | NS      | $108845.55    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp              | Costco Wholesale Corp.                       | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |        32 | NS      | $31678.08     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                         | Copart, Inc.                                 | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |     12898 | NS      | $632904.86    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                     | Salesforce, Inc.                             | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     12967 | NS      | $3535971.23   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc           | Crowdstrike Holdings, Inc. - Class A         | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      3521 | NS      | $1793280.51   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                  | Cisco Systems, Inc.                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      1019 | NS      | $70698.22     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                         | Deere & Co.                                  | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       573 | NS      | $291364.77    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                       | Danaher Corp.                                | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      1417 | NS      | $279914.18    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                   | Duke Energy Corp.                            | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |        88 | NS      | $10384.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                         | Dexcom, Inc.                                 | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |       777 | NS      | $67824.33     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc                         | Ecolab, Inc.                                 | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |       273 | NS      | $73557.12     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                | Elevance Health, Inc.                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |       453 | NS      | $176198.88    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                  | EOG Resources, Inc.                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |       287 | NS      | $34328.07     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                     | Eaton Corp. PLC                              | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |       909 | NS      | $324503.91    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp          | Edwards Lifesciences Corp.                   | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      1177 | NS      | $92053.17     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc               | Freeport-McMoRan, Inc.                       | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |      1459 | NS      | $63247.65     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp                    | Fair Isaac Corp.                             | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       326 | NS      | $595914.96    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information      | Fidelity National Information Services, Inc. | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |      6696 | NS      | $545121.36    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                       | Fortinet, Inc.                               | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      9065 | NS      | $958351.80    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Communications Parent     | Frontier Communications Parent, Inc.         | CUSIP: 35909D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       132 | NS      | $4804.80      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                | General Electric Co.                         | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      2203 | NS      | $567030.17    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc     | GE HealthCare Technologies, Inc.             | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |       780 | NS      | $57774.60     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                       | Alphabet, Inc. - Class A                     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     25102 | NS      | $4423725.46   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The        | Goldman Sachs Group, Inc.                    | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       265 | NS      | $187553.75    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                 | HCA Healthcare, Inc.                         | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       373 | NS      | $142896.30    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                 | Home Depot, Inc.                             | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |        75 | NS      | $27498.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc        | Honeywell International, Inc.                | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      1508 | NS      | $351183.04    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc                   | Altria Group, Inc.                           | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      1485 | NS      | $87065.55     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp            | Marathon Petroleum Corp.                     | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |       190 | NS      | $31560.90     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                     | Merck & Co., Inc.                            | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |       501 | NS      | $39659.16     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                     | Morgan Stanley                               | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      1114 | NS      | $156918.04    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                     | Microsoft Corp.                              | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      9365 | NS      | $4658244.65   | 4.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MicroStrategy Inc                  | MicroStrategy, Inc. - Class A                | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      3276 | NS      | $1324257.48   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                 | NextEra Energy, Inc.                         | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |       235 | NS      | $16313.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                        | Corteva, Inc.                                | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |       694 | NS      | $51723.82     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                    | CVS Health Corp.                             | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      2656 | NS      | $183210.88    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                       | Chevron Corp.                                | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1053 | NS      | $150779.07    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                       | DoorDash, Inc. - Class A                     | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      5153 | NS      | $1270266.03   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                | Arista Networks, Inc.                        | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |       289 | NS      | $29567.59     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals Inc     | Air Products and Chemicals, Inc.             | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |       212 | NS      | $59796.72     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                      | AppLovin Corp. - Class A                     | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      4129 | NS      | $1445480.32   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| AST SpaceMobile Inc                | AST SpaceMobile, Inc.                        | CUSIP: 00217D100<br>LEI: 254900MBSC9P2UCI6623 | Long             | EC               | CORP              | US        |       119 | NS      | $5560.87      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                       | Broadcom, Inc.                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1204 | NS      | $331882.60    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                | American Express Co.                         | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |       491 | NS      | $156619.18    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                      | Boeing Co.                                   | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      1659 | NS      | $347610.27    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp               | Bank of America Corp.                        | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      6207 | NS      | $293715.24    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BNPP Equity Swap BCKTAXVC   /      | BNPP Equity Swap BCKTAXVC   /                | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               |  | US        |   1039584 | NC      | $908169.82    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co              | Becton Dickinson & Co.                       | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |       575 | NS      | $99043.75     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BNPP Equity Swap UA XS2 Basket   / | BNPP Equity Swap UA XS2 Basket   /           | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               |  | US        |    198454 | NC      | $2735845.47   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc             | Berkshire Hathaway, Inc. - Class B           | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      3988 | NS      | $1937250.76   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp             | Boston Scientific Corp.                      | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |      2711 | NS      | $291188.51    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                    | Caterpillar, Inc.                            | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      1054 | NS      | $409173.34    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc         | Cadence Design Systems, Inc.                 | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      3662 | NS      | $1128445.30   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc         | Charter Communications, Inc. - Class A       | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |        63 | NS      | $25755.03     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                    | Cigna Group                                  | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |       571 | NS      | $188761.18    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co               | Colgate-Palmolive Co.                        | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |       720 | NS      | $65448.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                       | Comcast Corp. - Class A                      | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      2289 | NS      | $81694.41     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                       | Centene Corp.                                | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |       930 | NS      | $50480.40     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc                | Coinbase Global, Inc. - Class A              | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      2985 | NS      | $1046212.65   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc              | Robinhood Markets, Inc. - Class A            | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     10362 | NS      | $970194.06    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                         | Humana, Inc.                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       239 | NS      | $58430.72     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                                | International Business Machines Corp.        | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     12380 | NS      | $3649376.40   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc             | IDEXX Laboratories, Inc.                     | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |       159 | NS      | $85278.06     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB IB MONEY MARKET II   /         | UMB IB MONEY MARKET II   /                   | CUSIP: SF8888627<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   6117340 | PA      | $6117340.33   | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                         | Intuit, Inc.                                 | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      3772 | NS      | $2970940.36   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc             | Intuitive Surgical, Inc.                     | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       717 | NS      | $389624.97    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                  | Johnson & Johnson                            | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |       483 | NS      | $73778.25     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                | JPMorgan Chase & Co.                         | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      2508 | NS      | $727094.28    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp                | Kimberly-Clark Corp.                         | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |       291 | NS      | $37515.72     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc                  | Kinder Morgan, Inc.                          | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      1186 | NS      | $34868.40     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                   | Coca-Cola Co.                                | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      3660 | NS      | $258945.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Global Ltd                 | Liberty Global Ltd. - Class A                | CUSIP: G61188101<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | GB        |       186 | NS      | $1861.86      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                          | Linde PLC                                    | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |       505 | NS      | $236935.90    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                     | Eli Lilly & Co.                              | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       168 | NS      | $130961.04    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc                | Cheniere Energy, Inc.                        | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |       144 | NS      | $35066.88     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                     | Mastercard, Inc. - Class A                   | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      7362 | NS      | $4137002.28   | 3.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc         | Mondelez International, Inc. - Class A       | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      1148 | NS      | $77421.12     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                      | Medtronic PLC                                | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |      2567 | NS      | $223765.39    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                        | Netflix, Inc.                                | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      3571 | NS      | $4782033.23   | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                     | ServiceNow, Inc.                             | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      2780 | NS      | $2858062.40   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                         | Natera, Inc.                                 | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       285 | NS      | $48147.90     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                        | NVIDIA Corp.                                 | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      6579 | NS      | $1039416.21   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-15

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

**Signature:** /s/ Scott Schulenburg

**Name of Signer:** Scott Schulenburg

**Title:** President