# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001193125-26-288649
**Filing Date:** 2026-6
**Character Count:** 59608
**Document Hash:** 9fc2bca25ddda8854555f11a66f665dd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-288649.hdr.sgml**: 20260629

**ACCESSION NUMBER**: 0001193125-26-288649

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260629

**DATE AS OF CHANGE**: 20260629

**PERIOD START**: 20261031

**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:** 261136579

**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

### Arena Strategic Income Fund (Series ID: S000077098)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000237262 | Class I Shares | ACSIX           |

## 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:** Arena Strategic Income Fund

- **b. EDGAR series identifier (if any):** S000077098

- **c. LEI of Series:** 549300AQPOVBDOCHRJ74

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $51265730.40

**Total Liabilities:** $271011.15

**Net Assets:** $50994719.25

**Delayed Delivery Securities:** $159685.00

**Cash Not Reported:** $142687.82

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 113.325980166507 | **5-Year:** 333.270485421493 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 41.481981490239 | **1-Year:** 2425.365190833335 | **5-Year:** 4581.520868831194 | **10-Year:** 172.941310833832 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237262 | 0.39%                | -1.08%               | 1.29%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $145244.19               | $-301871.80                                |
| Month 2  | $117805.01               | $-1044141.04                               |
| Month 3  | $140405.83               | $215431.28                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| IRON MOUNTAIN INC                      | Iron Mountain, Inc.                                                      | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    350000 | PA      | $350566.65    | 0.69%             | 2028-03-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| JETBLUE 2020-1 CLASS B                 | JetBlue 2020-1 Class B Pass-Through Trust                                | CUSIP: 477164AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    167407 | PA      | $168656.38    | 0.33%             | 2030-05-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                | K Hovnanian Enterprises, Inc.                                            | CUSIP: 48251UAP3<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |    400000 | PA      | $403554.80    | 0.79%             | 2031-04-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE               | KeHE Distributors LLC / KeHE Finance Corp. / NextWave Distribution, Inc. | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    775000 | PA      | $811081.68    | 1.59%             | 2029-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                 | Mauser Packaging Solutions Holding Co.                                   | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111128.60    | 0.22%             | 2030-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| NRG ENERGY INC                         | NRG Energy, Inc.                                                         | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    597000 | PA      | $596995.82    | 1.17%             | 2029-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| NCR ATLEOS LLC                         | NCR Atleos Corp.                                                         | CUSIP: 638962AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $585383.70    | 1.15%             | 2029-04-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRASTRUCTURE LP                 | XPLR Infrastructure LP                                                   | CUSIP: 65341BAG1<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | DBT              | CORP              | US        |    450000 | PA      | $448875.00    | 0.88%             | 2026-06-15      | Fixed         | 2.50%                 | Yes           |                  2 | On Loan: No      |
| ORACLE CORP                            | Oracle Corp.                                                             | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    525000 | PA      | $481241.25    | 0.94%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| OXFORD FIN LLC/CO-ISS II               | Oxford Finance LLC / Oxford Finance Co.-Issuer II, Inc.                  | CUSIP: 69145LAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     63000 | PA      | $62749.83     | 0.12%             | 2031-05-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                     | PBF Holding Co. LLC / PBF Finance Corp.                                  | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $239916.00    | 0.47%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                     | PBF Holding Co. LLC / PBF Finance Corp.                                  | CUSIP: 69318FAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    635000 | PA      | $682635.80    | 1.34%             | 2030-03-15      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| PG&E CORP                              | PG&E Corp.                                                               | CUSIP: 69331CAL2<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    910000 | PA      | $932977.50    | 1.83%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PETCO HEALTH & WELLNESS                | Petco Health & Wellness Co., Inc.                                        | CUSIP: 71601VAA3<br>LEI: 2549007TYGV6RVSE9M61 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121088.64    | 0.24%             | 2031-02-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC                 | Radiology Partners, Inc.                                                 | CUSIP: 75041VAC8<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |    858542 | PA      | $779648.86    | 1.53%             | 2030-02-15      | None          | 9.78%                 | Yes           |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC                 | Radiology Partners, Inc.                                                 | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248527.50    | 0.49%             | 2032-07-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| RAND PARENT LLC                        | Rand Parent LLC                                                          | CUSIP: 753272AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $832879.20    | 1.63%             | 2030-02-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| RECOVERY SOLUTIONS PAREN               | Recovery Solutions Parent LLC                                            | CUSIP: 75627HAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    339705 | PA      | $340270.63    | 0.67%             | 2030-01-27      | Floating      | 12.00%                | No            |                  3 | On Loan: No      |
| LIGHT & WONDER INTL INC                | Light & Wonder International, Inc.                                       | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    500000 | PA      | $511553.00    | 1.00%             | 2029-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| VIASAT INC                             | Viasat, Inc.                                                             | CUSIP: 92555WAD7<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | LON              | CORP              | US        |    521828 | PA      | $524880.36    | 1.03%             | 2029-03-05      | Floating      | 8.28%                 | No            |                  2 | On Loan: No      |
| DELEK US HOLDINGS INC                  | Delek U.S. Holdings, Inc.                                                | CUSIP: 24664GAF8<br>LEI: 5493003O53JMENV1N385 | Long             | LON              | CORP              | US        |    294670 | PA      | $295430.31    | 0.58%             | 2029-11-19      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| FIRST BRANDS GROUP LLC                 | First Brands Group LLC                                                   | CUSIP: 31935HAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    322230 | PA      | $750.80       | 0.00%             | 2027-03-30      | Floating      | 10.81%                | No            |                  2 | On Loan: No      |
| WEST TECHNOLOGY GRP LLC                | West Technology Group LLC                                                | CUSIP: 68162RAH4<br>LEI: 5493005Z5DB0O5S30R71 | Long             | LON              | CORP              | US        |    565178 | PA      | $109687.02    | 0.22%             | 2027-04-12      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                             | Viasat, Inc.                                                             | CUSIP: 92555WAF2<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | LON              | CORP              | US        |     48750 | PA      | $48957.92     | 0.10%             | 2030-05-30      | Floating      | 8.97%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC                         | 1011778 BC ULC                                                           | CUSIP: C6901LAK3<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | CA        |    633750 | PA      | $625432.03    | 1.23%             | 2028-09-21      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| DS PARENT INC                          | DS Parent, Inc.                                                          | CUSIP: 23344YAG7<br>LEI: 254900EH8GRZUGRWRH57 | Long             | LON              | CORP              | US        |     98250 | PA      | $87039.18     | 0.17%             | 2031-01-31      | Floating      | 10.80%                | No            |                  2 | On Loan: No      |
| DELIVERY HERO FINCO LLC                | Delivery Hero Finco LLC                                                  | CUSIP: D2007ZAE7<br>LEI: 529900KR9IO53KSCSQ67 | Long             | LON              | CORP              | US        |    392000 | PA      | $391020.00    | 0.77%             | 2029-12-12      | Floating      | 8.64%                 | No            |                  2 | On Loan: No      |
| EYECARE PARTNERS LLC                   | Eyecare Partners LLC                                                     | CUSIP: 30233PAQ3<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |    450000 | PA      | $447669.00    | 0.88%             | 2028-08-31      | Floating      | 10.37%                | No            |                  2 | On Loan: No      |
| LIKEWIZE CORP                          | Likewize Corp.                                                           | CUSIP: 53235UAB5<br>LEI: TF9O1XIG83ZLXX7WN472 | Long             | LON              | CORP              | US        |    957261 | PA      | $880680.26    | 1.73%             | 2029-08-27      | Floating      | 10.03%                | No            |                  2 | On Loan: No      |
| AMC ENTERTAINMENT HLDGS                | AMC Entertainment Holdings, Inc.                                         | CUSIP: 00164CAD7<br>LEI: 549300ZO77UNR6NRBR11 | Long             | LON              | CORP              | US        |    604256 | PA      | $604664.12    | 1.19%             | 2029-01-04      | Floating      | 10.68%                | No            |                  2 | On Loan: No      |
| CHINOS INTERMEDIATE 2 LL               | Chinos Intermediate 2 LLC                                                | CUSIP: 16961YAB4<br>LEI: 54930061EIIAONXJMZ79 | Long             | LON              | CORP              | US        |    495000 | PA      | $372487.50    | 0.73%             | 2031-09-29      | Floating      | 9.66%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                            | Asurion LLC                                                              | CUSIP: 04649VBD1<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    698228 | PA      | $699914.07    | 1.37%             | 2030-09-19      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| LASERSHIP INC                          | Lasership, Inc.                                                          | CUSIP: 51809EAP0<br>LEI: 254900NGHREGOQUFUT53 | Long             | LON              | CORP              | US        |    270825 | PA      | $62740.60     | 0.12%             | 2029-08-10      | Floating      | 10.06%                | No            |                  2 | On Loan: No      |
| LASERSHIP INC                          | Lasership, Inc.                                                          | CUSIP: 51809EAN5<br>LEI: 254900NGHREGOQUFUT53 | Long             | LON              | CORP              | US        |    151500 | PA      | $111163.88    | 0.22%             | 2029-01-02      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| EURO FORWARD CONTRACT 05/12/26   /     | EURO FORWARD CONTRACT 05/12/26   /                                       | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | XX        |   -480000 | OU      | $-563697.86   | -1.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Fidelity Treasury Portfolio            | Fidelity Treasury Portfolio - Class III                                  | CUSIP: 316175884<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2726937 | PA      | $2726937.20   | 5.35%             |  |  |  | No            |                  1 | On Loan: No      |
| FG PARENT, LLC    /                    | FG PARENT, LLC    /                                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9684 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Spirit Aviation Holdings Inc           | Spirit Aviation Holdings, Inc.                                           | CUSIP: 84863V101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28769 | NS      | $40276.60     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FUSION PARENT LLC CLASS A   /          | FUSION PARENT LLC CLASS A   /                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9684 | NS      | $348624.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAB HOLDINGS LTD                      | Grab Holdings Ltd.                                                       | CUSIP: G4124CAA7<br>LEI: 549300N4VQX83VPJF439 | Long             | DBT              | CORP              | KY        |    387000 | PA      | $379017.74    | 0.74%             | 2030-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                    | SoftBank Group Corp.                                                     | CUSIP: J7596PCK3<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $201353.00    | 0.39%             | 2029-10-22      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Keenova Therapeutics PLC               | Keenova Therapeutics PLC                                                 | CUSIP: G5890A102<br>LEI: 549300LMDE3RUP8Z3L60 | Long             | EC               | CORP              | IE        |       448 | NS      | $39648.00     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| RECOVERY SOLUTIONS    /                | RECOVERY SOLUTIONS    /                                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18775 | NS      | $403666.80    | 0.79%             |  |  |  | No            |                  3 | On Loan: No      |
| WELLPATH HOLDINGS COMMON EQUITY   /    | WELLPATH HOLDINGS COMMON EQUITY   /                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9044 | NS      | $9043.80      | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| WELLPATH HOLDINGS PREFERRED EQUITY   / | WELLPATH HOLDINGS PREFERRED EQUITY   /                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      8763 | NS      | $122686.26    | 0.24%             |  |  |  | No            |                  3 | On Loan: No      |
| AMC GLOBAL MEDIA INC                   | AMC Global Media, Inc.                                                   | CUSIP: 00164VAK9<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    549000 | PA      | $566722.27    | 1.11%             | 2032-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| ALARM.COM HLDGS INC                    | Alarm.com Holdings, Inc.                                                 | CUSIP: 011642AD7<br>LEI: 549300HIH92U1EKIHZ32 | Long             | DBT              | CORP              | US        |    400000 | PA      | $377000.00    | 0.74%             | 2029-06-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                          | EchoStar Corp.                                                           | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    701138 | PA      | $712305.73    | 1.40%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ENDO FINANCE HOLDINGS LP               | Endo Finance Holdings LP                                                 | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $265049.00    | 0.52%             | 2031-04-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| ENVIVA PRTNR ESCROW    /               | ENVIVA PRTNR ESCROW    /                                                 | CUSIP: 294ESCAA6<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| KRONOS INTERNATIONAL INC               | Kronos International, Inc.                                               | CUSIP: 276352059<br>LEI: 529900NTVDLUSYY9F493 | Long             | DBT              | CORP              | US        |    550000 | PA      | $596156.10    | 1.17%             | 2029-03-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| SCIL IV LLC / SCIL USA H               | SCIL IV LLC / SCIL USA Holdings LLC                                      | CUSIP: ZJ2443688<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $121926.88    | 0.24%             | 2028-07-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| EVOLENT HEALTH INC                     | Evolent Health, Inc.                                                     | CUSIP: 30050BAJ0<br>LEI: 549300CZOCFHQ2BBTR11 | Long             | DBT              | CORP              | US        |    466000 | PA      | $294162.50    | 0.58%             | 2031-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                | Frontier Communications Holdings LLC                                     | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $400000.00    | 0.78%             | 2028-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| GRAY MEDIA INC                         | Gray Media, Inc.                                                         | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    218000 | PA      | $231542.60    | 0.45%             | 2029-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| HLF FIN SARL LLC/HERBALI               | HLF Financing Sarl LLC / Herbalife International, Inc.                   | CUSIP: 40390DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     86000 | PA      | $80826.50     | 0.16%             | 2029-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT                 | HAT Holdings I LLC / HAT Holdings II LLC                                 | CUSIP: 418751AD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $370740.80    | 0.73%             | 2030-09-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| HERBALIFE LTD                          | Herbalife Ltd.                                                           | CUSIP: 42703MAF0<br>LEI: 549300BA7TYPBSZZIA41 | Long             | DBT              | CORP              | KY        |    267000 | PA      | $341679.90    | 0.67%             | 2028-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HUGHES SATELLITE SYSTEMS               | Hughes Satellite Systems Corp.                                           | CUSIP: 444454AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    550000 | PA      | $499527.60    | 0.98%             | 2026-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC                    | Spectrum Brands, Inc.                                                    | CUSIP: 84762LAZ8<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |    500000 | PA      | $511225.00    | 1.00%             | 2029-06-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                              | Block, Inc.                                                              | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500775.00    | 0.98%             | 2030-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| STILLWATER MINING CO                   | Stillwater Mining Co.                                                    | CUSIP: 86074QAQ5<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95812.60     | 0.19%             | 2029-11-16      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| STONEX GROUP INC                       | StoneX Group, Inc.                                                       | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    182000 | PA      | $191748.65    | 0.38%             | 2031-03-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| SUNOCO LP                              | Sunoco LP                                                                | CUSIP: 86765KAH2<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250235.25    | 0.49%             | 2027-07-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                 | Sunoco LP / Sunoco Finance Corp.                                         | CUSIP: 86765LAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     53000 | PA      | $53257.42     | 0.10%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                   | Talos Production, Inc.                                                   | CUSIP: 87485LAD6<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    226000 | PA      | $235882.75    | 0.46%             | 2029-02-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                  | Tenet Healthcare Corp.                                                   | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    261000 | PA      | $261799.44    | 0.51%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                 | Cloud Software Group, Inc.                                               | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    300000 | PA      | $292087.50    | 0.57%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| TUTOR PERINI CORP                      | Tutor Perini Corp.                                                       | CUSIP: 901109AG3<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | DBT              | CORP              | US        |    487000 | PA      | $531333.07    | 1.04%             | 2029-04-30      | Fixed         | 11.88%                | Yes           |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                | United Rentals North America, Inc.                                       | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    868000 | PA      | $883275.93    | 1.73%             | 2029-12-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                | Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC        | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    159000 | PA      | $158511.08    | 0.31%             | 2028-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| VIASAT INC                             | Viasat, Inc.                                                             | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    275000 | PA      | $274510.78    | 0.54%             | 2027-04-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| VIASAT INC                             | Viasat, Inc.                                                             | CUSIP: 92552VAN0<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    350000 | PA      | $349105.75    | 0.68%             | 2028-07-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| VICTORIA'S SECRET & CO                 | Victoria's Secret & Co.                                                  | CUSIP: 926400AA0<br>LEI: 5493006T3O70U3UWVF17 | Long             | DBT              | CORP              | US        |   1002000 | PA      | $965967.08    | 1.89%             | 2029-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| VICTRA HLDG/VICTRA FIN                 | Victra Holdings LLC / Victra Finance Corp.                               | CUSIP: 92648DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $52376.35     | 0.10%             | 2029-09-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR               | Windstream Services LLC / Windstream Escrow Finance Corp.                | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    991000 | PA      | $1048694.04   | 2.06%             | 2031-10-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                    | Travel + Leisure Co.                                                     | CUSIP: 98310WAS7<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    260000 | PA      | $260152.88    | 0.51%             | 2026-07-31      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                    | SoftBank Group Corp.                                                     | CUSIP: J7596PAP4<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    250000 | PA      | $247578.00    | 0.49%             | 2027-09-19      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                    | SoftBank Group Corp.                                                     | CUSIP: J7596PAW9<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    240000 | PA      | $239851.44    | 0.47%             | 2028-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LASERSHIP INC                          | Lasership, Inc.                                                          | CUSIP: 51809EAM7<br>LEI: 254900NGHREGOQUFUT53 | Long             | LON              | CORP              | US        |    952512 | PA      | $692952.31    | 1.36%             | 2029-08-10      | Floating      | 9.76%                 | No            |                  2 | On Loan: No      |
| OREGON TOOL LUX LP                     | Oregon Tool Lux LP                                                       | CUSIP: L7266PAC9<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |    250000 | PA      | $252305.00    | 0.49%             | 2029-10-15      | Floating      | 9.23%                 | No            |                  2 | On Loan: No      |
| NEW WPCC PARENT LLC                    | New WPCC Parent LLC                                                      | CUSIP: 64929VAA3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    184849 | PA      | $183809.30    | 0.36%             | 2030-05-09      | Floating      | 13.80%                | No            |                  3 | On Loan: No      |
| LENDINGTREE INC                        | LendingTree, Inc.                                                        | CUSIP: 52602KAE8<br>LEI: 549300ISY5YHUJZTON08 | Long             | LON              | CORP              | US        |   1045373 | PA      | $1033173.92   | 2.03%             | 2030-08-21      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| FIRST BRANDS GROUP LLC                 | First Brands Group LLC                                                   | CUSIP: 31935HAM9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    326918 | PA      | $80810.94     | 0.16%             | 2026-06-29      | Floating      | 13.66%                | No            |                  2 | On Loan: No      |
| FIRST BRANDS GROUP LLC                 | First Brands Group LLC                                                   | CUSIP: 31935HAN7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    820766 | PA      | $3229.71      | 0.01%             | 2026-06-29      | Floating      | 10.66%                | No            |                  2 | On Loan: No      |
| NUMERICABLE US LLC                     | Numericable U.S. LLC                                                     | CUSIP: F6628DAN4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    473677 | PA      | $483408.33    | 0.95%             | 2031-05-15      | Floating      | 10.53%                | No            |                  2 | On Loan: No      |
| NUMERICABLE US LLC                     | Altice France S.A.                                                       | CUSIP: 67053NAK0<br>LEI: N/A                  | Long             | LON              | CORP              | FR        |    303088 | PA      | $304982.34    | 0.60%             | 2028-04-28      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| SPIRIT AIRLINES INC                    | Spirit Airlines, Inc.                                                    | CUSIP: BLA0FQT49<br>LEI: 549300DCAFIXFNFR3304 | Long             | LON              | CORP              | US        |     58795 | PA      | $57324.69     | 0.11%             | 2026-07-14      | Floating      | 11.68%                | No            |                  2 | On Loan: No      |
| SPIRIT AIRLINES INC                    | Spirit Airlines, Inc.                                                    | CUSIP: 84859TAA0<br>LEI: 549300DCAFIXFNFR3304 | Long             | LON              | CORP              | US        |    196044 | PA      | $3920.88      | 0.01%             | 2026-07-14      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SPIRIT AIRLINES INC                    | Spirit Airlines, Inc.                                                    | CUSIP: BLA0FPWX3<br>LEI: 549300DCAFIXFNFR3304 | Long             | LON              | CORP              | US        |    651891 | PA      | $293350.83    | 0.58%             | 2026-07-14      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                   | Michaels Cos., Inc.                                                      | CUSIP: 59408UAE7<br>LEI: 549300H9LWMBP7HYLR98 | Long             | LON              | CORP              | US        |    200000 | PA      | $198271.00    | 0.39%             | 2033-03-07      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| DELIVERY HERO FINCO LLC                | Delivery Hero Finco LLC                                                  | CUSIP: D2007ZAG2<br>LEI: 529900KR9IO53KSCSQ67 | Long             | LON              | CORP              | US        |    250000 | PA      | $248125.00    | 0.49%             | 2032-06-16      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| SAVE DIP-TL TL 1L U.S. BANK LOAN   /   | SAVE DIP-TL TL 1L U.S. BANK LOAN   /                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    120033 | PA      | $117031.70    | 0.23%             | 2029-03-05      | Variable      | 11.68%                | No            |                  3 | On Loan: No      |
| SAVE DIP-TL TL 2L U.S. BANK LOAN   /   | SAVE DIP-TL TL 2L U.S. BANK LOAN   /                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     29769 | PA      | $29024.68     | 0.06%             | 2029-03-05      | Variable      | 11.68%                | No            |                  3 | On Loan: No      |
| DELIVERY HERO AG                       | Delivery Hero S.E.                                                       | CUSIP: D1T28ZAG8<br>LEI: 529900C3EX1FZGE48X78 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $338070.77    | 0.66%             | 2030-02-21      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE               | Connect Finco SARL / Connect U.S. Finco LLC                              | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    250000 | PA      | $263975.00    | 0.52%             | 2029-09-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION               | Consensus Cloud Solutions, Inc.                                          | CUSIP: 20848VAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    950000 | PA      | $946596.15    | 1.86%             | 2028-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| COOPER-STANDARD AUTOMOTI               | Cooper-Standard Automotive, Inc.                                         | CUSIP: 216762AK0<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |    370000 | PA      | $355773.50    | 0.70%             | 2031-03-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                 | Delek Logistics Partners LP / Delek Logistics Finance Corp.              | CUSIP: 24665FAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $350430.50    | 0.69%             | 2028-06-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                 | Delek Logistics Partners LP / Delek Logistics Finance Corp.              | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $208730.60    | 0.41%             | 2029-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| DIEBOLD NIXDORF INC                    | Diebold Nixdorf, Inc.                                                    | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |    175000 | PA      | $184482.73    | 0.36%             | 2030-03-31      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                  | Directv Financing LLC                                                    | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $508687.00    | 1.00%             | 2030-02-01      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                  | Directv Financing LLC / Directv Financing Co.-Obligor, Inc.              | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    453000 | PA      | $471658.16    | 0.92%             | 2031-02-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| DISH NETWORK CORP                      | DISH Network Corp.                                                       | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    260000 | PA      | $268603.14    | 0.53%             | 2027-11-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| Par Health Inc                         | Par Health, Inc.                                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       448 | NS      | $1904.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLEGIANT TRAVEL CO                    | Allegiant Travel Co.                                                     | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |    289000 | PA      | $291070.40    | 0.57%             | 2027-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ALLWYN ENTERTAINMENT FIN               | Allwyn Entertainment Financing UK PLC                                    | CUSIP: 02007VAA8<br>LEI: 315700J7ZTIN8XGCX365 | Long             | DBT              | CORP              | GB        |    800000 | PA      | $824156.00    | 1.62%             | 2029-04-30      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| ALTICE FRANCE SA                       | Altice France S.A.                                                       | CUSIP: 02090DAA6<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    224680 | PA      | $229502.08    | 0.45%             | 2029-11-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| ALTICE FRANCE SA                       | Altice France S.A.                                                       | CUSIP: 02090DAB4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $196761.20    | 0.39%             | 2030-10-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| ALTA EQUIPMENT GROUP                   | Alta Equipment Group, Inc.                                               | CUSIP: 02128LAC0<br>LEI: 549300DGOB28CLGS1X27 | Long             | DBT              | CORP              | US        |    450000 | PA      | $429493.05    | 0.84%             | 2029-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| AMS-OSRAM AG                           | ams-OSRAM A.G.                                                           | CUSIP: 03217CAB2<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    374000 | PA      | $400272.75    | 0.78%             | 2029-03-30      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| BELO CORP                              | Belo Corp.                                                               | CUSIP: 080555AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    408000 | PA      | $418751.21    | 0.82%             | 2027-09-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                         | Bombardier, Inc.                                                         | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $363819.40    | 0.71%             | 2029-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Enviva Holdings LP                     | Enviva Holdings LP                                                       | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9219 | NS      | $186684.75    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                 | CCO Holdings LLC / CCO Holdings Capital Corp.                            | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    128000 | PA      | $127920.90    | 0.25%             | 2027-05-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CSG SYSTEMS INTERNATIONA               | CSG Systems International, Inc.                                          | CUSIP: 126349AH2<br>LEI: 549300D7FJZUOHHXUA81 | Long             | DBT              | CORP              | US        |    450000 | PA      | $549000.00    | 1.08%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                         | CVR Energy, Inc.                                                         | CUSIP: 12662PAH1<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    400000 | PA      | $405290.40    | 0.79%             | 2031-02-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| CARS.COM INC                           | Cars.com, Inc.                                                           | CUSIP: 14575EAA3<br>LEI: 5493002G6J07LNGX4M98 | Long             | DBT              | CORP              | US        |    400000 | PA      | $393468.40    | 0.77%             | 2028-11-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC               | Celanese U.S. Holdings LLC                                               | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204710.20    | 0.40%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                   | CITGO Petroleum Corp.                                                    | CUSIP: 17302XAN6<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    975000 | PA      | $1003636.73   | 1.97%             | 2029-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                  | Scotts Miracle-Gro Co.                                                   | CUSIP: 810186AP1<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    134000 | PA      | $134051.86    | 0.26%             | 2026-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST               | Service Properties Trust                                                 | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    200000 | PA      | $210914.20    | 0.41%             | 2031-11-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS INC                    | Shift4 Payments, Inc.                                                    | CUSIP: 82452JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    236000 | PA      | $223259.30    | 0.44%             | 2027-08-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S                              | Sotheby's                                                                | CUSIP: 835898AJ6<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |    120000 | PA      | $116712.12    | 0.23%             | 2031-04-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| SPIRIT AIRLINES LLC                    | Spirit Airlines LLC                                                      | CUSIP: 84863V135<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      5680 | NC      | $7952.00      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BLOCK INC                              | Block, Inc.                                                              | CUSIP: 852234AN3<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    471000 | PA      | $470339.19    | 0.92%             | 2026-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| HUGHES SATELLITE SYSTEMS               | Hughes Satellite Systems Corp.                                           | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    512000 | PA      | $365273.60    | 0.72%             | 2026-08-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| IHS MAURITIUS NG HOLDCO                | IHS Netherlands Holdco B.V.                                              | CUSIP: 44963LAC0<br>LEI: 5493006Z6YQYCCN2XI74 | Long             | DBT              | CORP              | NL        |    171869 | PA      | $172131.93    | 0.34%             | 2027-09-18      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                  | Icahn Enterprises LP / Icahn Enterprises Finance Corp.                   | CUSIP: 451102CF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1245000 | PA      | $1252374.14   | 2.46%             | 2029-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| INNOVATE CORP                          | INNOVATE Corp.                                                           | CUSIP: 45784JAB1<br>LEI: 549300S6O246JWQQ1K58 | Long             | DBT              | CORP              | US        |    812266 | PA      | $699564.09    | 1.37%             | 2027-02-01      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| FIRST BRANDS GROUP LLC                 | First Brands Group LLC                                                   | CUSIP: 31935HAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     59746 | PA      | $139.21       | 0.00%             | 2027-03-30      | Floating      | 10.79%                | No            |                  2 | On Loan: No      |
| AP CORE HOLDINGS II LLC                | AP Core Holdings II LLC                                                  | CUSIP: 00187GAC3<br>LEI: 549300PND8ZZ4RWYRZ56 | Long             | LON              | CORP              | US        |    833749 | PA      | $820050.69    | 1.61%             | 2027-09-01      | Floating      | 9.94%                 | No            |                  2 | On Loan: No      |
| AP CORE HOLDINGS II LLC                | AP Core Holdings II LLC                                                  | CUSIP: 00187GAD1<br>LEI: 549300PND8ZZ4RWYRZ56 | Long             | LON              | CORP              | US        |    275000 | PA      | $271218.75    | 0.53%             | 2027-09-01      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                            | Asurion LLC                                                              | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     78505 | PA      | $78872.46     | 0.15%             | 2029-01-22      | Floating      | 9.69%                 | No            |                  2 | On Loan: No      |
| Dreyfus Treasury Securities Ca         | Dreyfus Treasury Securities Cash Management - Class Administrative       | CUSIP: 261941306<br>LEI: 549300U78VESCW509025 | Long             | STIV             | RF                | US        |    455259 | PA      | $455258.76    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO FORWARD CONTRACT 05/29/2026   /   | EURO FORWARD CONTRACT 05/29/2026   /                                     | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | XX        |   -290000 | OU      | $-340839.64   | -0.67%            |  |  |  | No            |                  2 | On Loan: No      |
| EUR FORWARD CONTRACT 06/17/26   /      | EUR FORWARD CONTRACT 06/17/26   /                                        | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | XX        |   -110000 | OU      | $-129393.50   | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| EURO CURRENCY  /                       | EURO CURRENCY  /                                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | XX        |     25875 | OU      | $30369.86     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-12

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

**Signature:** /s/ Scott Schulenburg

**Name of Signer:** Scott Schulenburg

**Title:** President