# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001145549-23-007209
**Filing Date:** 2023-2
**Character Count:** 38630
**Document Hash:** 55160e3402514cca56a0c6c0e2753142
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-007209.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001145549-23-007209

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20230331

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22894
- **FILM NUMBER:** 23647657

**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 Green Alpha ETF (Series ID: S000077398)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000237806 | AXS Green Alpha ETF | NXTE            |

## Nport-Ex

#### AXS Green Alpha ETF

#### SCHEDULE OF INVESTMENTS

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

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS — 96.9%** |  |
|  | **AUTO MANUFACTURERS — 2.3%** |  |
| 73916 | Proterra, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$278663 |
| 12636 | Rivian Automotive, Inc. - Class A\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232882 |
| 6045 | Tesla, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744623 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1256168** |
|  | **AUTO PARTS & EQUIPMENT — 0.8%** |  |
| 78527 | QuantumScape Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**445248** |
|  | **BIOTECHNOLOGY — 12.9%** |  |
| 22135 | Arcturus Therapeutics Holdings, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375410 |
| 60038 | Caribou Biosciences, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377039 |
| 39713 | CRISPR Therapeutics A.G.\*<sup>,1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1614333 |
| 98035 | Editas Medicine, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869570 |
| 2971 | Illumina, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600736 |
| 15521 | Intellia Therapeutics, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541528 |
| 13773 | Moderna, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2473906 |
| 9370 | Verve Therapeutics, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181310 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7033832** |
|  | **BUILDING MATERIALS — 0.8%** |  |
| 9766 | Trex Co., Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**413395** |
|  | **CHEMICALS — 1.1%** |  |
| 15723 | Daqo New Energy Corp. - ADR\*<sup>,1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**607065** |
|  | **COMMERCIAL SERVICES — 1.8%** |  |
| 15332 | Block, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**963463** |
|  | **COMPUTERS — 6.8%** |  |
| 3782 | Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491395 |
| 11594 | Fortinet, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566831 |
| 14792 | International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2084045 |
| 16926 | Rapid7, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575145 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3717416** |
|  | **DIVERSIFIED FINANCIAL SERVICES — 2.7%** |  |
| 50681 | Hannon Armstrong\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1468735** |
|  | **ELECTRIC — 3.3%** |  |
| 65351 | Brookfield Renewable Corp. - Class A<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1799767** |
|  | **ELECTRICAL COMPONENTS & EQUIPMENT — 1.2%** |  |
| 21814 | ABB Ltd. - ADR<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**664455** |

---

------

#### AXS Green Alpha ETF

#### SCHEDULE OF INVESTMENTS - Continued

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

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **ELECTRONICS — 0.5%** |  |
| 3532 | Advanced Energy Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$302975** |
|  | **ENERGY-ALTERNATE SOURCES — 19.3%** |  |
| 31170 | Canadian Solar, Inc.\*<sup>,1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963153 |
| 2992 | Enphase Energy, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792760 |
| 7625 | First Solar, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1142149 |
| 31790 | JinkoSolar Holding Co., Ltd. - ADR\*<sup>,1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299575 |
| 26182 | Maxeon Solar Technologies Ltd.\*<sup>,1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420483 |
| 1662 | SolarEdge Technologies, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470795 |
| 53095 | SunPower Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957303 |
| 19013 | Sunrun, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456692 |
| 80971 | TPI Composites, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821046 |
| 111860 | Vestas Wind Systems | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3244459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10568415** |
|  | **ENVIRONMENTAL CONTROL — 0.9%** |  |
| 99007 | Li-Cycle Holdings Corp.\*<sup>,1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**471273** |
|  | **FOOD — 2.6%** |  |
| 6005 | Danone | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315507 |
| 50937 | Natural Grocers by Vitamin Cottage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465564 |
| 20505 | Sprouts Farmers Market, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663747 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1444818** |
|  | **HEALTHCARE-PRODUCTS — 1.9%** |  |
| 130385 | Pacific Biosciences of California, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1066549** |
|  | **HEALTHCARE-SERVICES — 1.1%** |  |
| 230736 | Invitae Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429169 |
| 94739 | Personalis, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187583 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**616752** |
|  | **INVESTMENT COMPANIES — 2.1%** |  |
| 97032 | Horizon Technology Finance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1125571** |
|  | **OFFICE FURNISHINGS — 1.0%** |  |
| 30561 | Interface, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301637 |
| 38188 | Steelcase, Inc. - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269989 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**571626** |
|  | **REITS — 12.4%** |  |
| 8041 | Alexandria Real Estate Equities\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171332 |
| 7947 | Boston Properties, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537058 |
| 9724 | Digital Trust Realty, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975025 |
| 1496 | Equinix, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979925 |

---

------

#### AXS Green Alpha ETF

#### SCHEDULE OF INVESTMENTS - Continued

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

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **REITS (Continued)** |  |
| 104587 | Hudson Pacific Properties\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1017632 |
| 17019 | Kilroy Realty Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658125 |
| 21007 | SL Green Realty Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708356 |
| 34180 | Vornado Realty Trust\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711286 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6758739** |
|  | **SEMICONDUCTORS — 19.9%** |  |
| 2971 | Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487333 |
| 20047 | Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1952177 |
| 2950 | ASML Holding N.V.<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1611880 |
| 44513 | Infineon Technologies A.G. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350610 |
| 3324 | Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397077 |
| 11844 | QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1302130 |
| 32578 | Taiwan Semiconductor Manufacturing Co., Ltd. - ADR<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2426735 |
| 5427 | Wolfspeed, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374680 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10902622** |
|  | **TELECOMMUNICATIONS — 1.5%** |  |
| 40022 | SK Telecom Co., Ltd. - ADR<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**824053** |
|  | **TOTAL COMMON STOCKS** |  |
|  | (Cost $53,805,823) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53022937** |
|  | **TOTAL INVESTMENTS — 96.9%** |  |
|  | (Cost $53,805,823) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**53022937** |
|  | Other Assets in Excess of Liabilities — 3.1% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1669585 |
|  | **TOTAL NET ASSETS — 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$54692522** |

---

ADR – American Depository Receipt

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

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** INVESTMENT MANAGERS SERIES TRUST II

- **b. Investment Company Act file number:** 811-22894

- **c. CIK number of Registrant:** 0001587982

- **d. LEI of Registrant:** 549300SU7ER9OFETRU41

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 235 WEST GALENA STREET

  - **City:** MILWAUKEE

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 532123948

  - **Telephone number:** 4142992000

**Item A.2. Information about the Series.**

- **a. Name of Series:** AXS Green Alpha ETF

- **b. EDGAR series identifier (if any):** S000077398

- **c. LEI of Series:** 549300HKFDO4ASA0ZY79

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

- **a. Date of fiscal year-end:** 2023-03-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $52451522.26

**Total Liabilities:** $98837.07

**Net Assets:** $52352685.19

**Cash Not Reported:** $1481534.48

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237806 | 1.04%                | 11.12%               | -12.24%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1529.29                | $914506.94                                 |
| Month 2  | $8308.27                 | $5463926.24                                |
| Month 3  | $227.55                  | $-7224890.62                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Brookfield Renewable Corporation                          | Brookfield Renewable Corporation CL A SUB VTG                         | CUSIP: 11284V105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     62399 | NS      | $1718468.46   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Solar Inc                                        | Canadian Solar Inc COM STK NPV                                        | CUSIP: 136635109<br>LEI: 5493001XSC6TKMBVOM15 | Long             | EC               | CORP              | CA        |     29730 | NS      | $918657.00    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Li-Cycle Holdings Corp                                    | Li-Cycle Holdings Corp COMMON SHARES                                  | CUSIP: 50202P105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     94743 | NS      | $450976.68    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Daqo New Energy Corp.                                     | Daqo New Energy Corp. SPON ADS EA REPR 25 ORD SHS                     | CUSIP: 23703Q203<br>LEI: 529900711JBZ5O7VA827 | Long             | EC               | CORP              | KY        |     15235 | NS      | $588223.35    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| JinkoSolar Holding Co., Ltd.                              | JinkoSolar Holding Co., Ltd. SPON ADS EACH REP 4 ORD SHS              | CUSIP: 47759T100<br>LEI: 529900Y93WNCS05FG852 | Long             | EC               | CORP              | KY        |     30430 | NS      | $1243978.40   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Vestas Wind Systems AS                                    | Vestas Wind Systems AS DKK0.20                                        | CUSIP: K9773J201<br>LEI: 549300DYMC8BGZZC8844 | Long             | EC               | CORP              | DK        |    111300 | NS      | $3228216.74   | 6.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                                 | Tesla Inc COM USD0.001                                                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      5829 | NS      | $718016.22    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Company, Inc.                                        | Trex Company, Inc. COM USD0.01                                        | CUSIP: 89531P105<br>LEI: 549300ER482WJT9UUX16 | Long             | EC               | CORP              | US        |      9334 | NS      | $395108.22    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Verve Therapeutics Inc                                    | Verve Therapeutics Inc COM                                            | CUSIP: 92539P101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8538 | NS      | $165210.30    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                                      | Vornado Realty Trust COM SHS OF BEN INT USD0.04                       | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33364 | NS      | $694304.84    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolfspeed Inc.                                            | Wolfspeed Inc. COM                                                    | CUSIP: 977852102<br>LEI: 549300OGU88P3AW3TO93 | Long             | EC               | CORP              | US        |      5067 | NS      | $349825.68    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Rivian Automotive Inc                                     | Rivian Automotive Inc COM CL A                                        | CUSIP: 76954A103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11996 | NS      | $221086.28    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Markets Inc                               | Sprouts Farmers Markets Inc COM USD0.001                              | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |     19713 | NS      | $638109.81    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                                                 | Block Inc COM USD0.0000001 CL A                                       | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |     14740 | NS      | $926261.60    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Steelcase Inc                                             | Steelcase Inc COM NPV                                                 | CUSIP: 858155203<br>LEI: GIE4CCPBJDI8SMV1OX95 | Long             | EC               | CORP              | US        |     36604 | NS      | $258790.28    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunpower Corporation                                      | Sunpower Corporation COM USD0.001                                     | CUSIP: 867652406<br>LEI: 549300TXO070764WUH65 | Long             | EC               | CORP              | US        |     50575 | NS      | $911867.25    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrun Inc.                                               | Sunrun Inc. COM USD0.0001                                             | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               | CORP              | US        |     18157 | NS      | $436131.14    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| TPI Composites Inc.                                       | TPI Composites Inc. COM USD0.01                                       | CUSIP: 87266J104<br>LEI: 549300TI9H56OIY0QE39 | Long             | EC               | CORP              | US        |     77507 | NS      | $785920.98    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Proterra Inc                                              | Proterra Inc COM                                                      | CUSIP: 74374T109<br>LEI: 549300KN6Y54A0I8GX14 | Long             | EC               | CORP              | US        |     67252 | NS      | $253540.04    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                                             | QUALCOMM Inc. COM USD0.0001                                           | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     11316 | NS      | $1244081.04   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| QuantumScape Corporation                                  | QuantumScape Corporation COM CL A                                     | CUSIP: 74767V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74919 | NS      | $424790.73    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Rapid7 Incorporation                                      | Rapid7 Incorporation COM USD0.01                                      | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Long             | EC               | CORP              | US        |     15790 | NS      | $536544.20    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sl Green Realty Corp                                      | Sl Green Realty Corp COM                                              | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |     19055 | NS      | $642534.60    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaredge Technologies Inc                                | Solaredge Technologies Inc USD0.0001                                  | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | US        |      1598 | NS      | $452665.46    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corporation                                 | Kilroy Realty Corporation COM STK USD0.01                             | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     16227 | NS      | $627498.09    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corporation                                  | Lam Research Corporation COM USD0.001                                 | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      3196 | NS      | $1343278.80   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Moderna Inc                                               | Moderna Inc COM USD0.0001                                             | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |     13269 | NS      | $2383377.78   | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Natural Grocers By Vitamin Cottage Inc.                   | Natural Grocers By Vitamin Cottage Inc. COM USD0.001                  | CUSIP: 63888U108<br>LEI: 529900P4OTXDGBUS3O87 | Long             | EC               | CORP              | US        |     48417 | NS      | $442531.38    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacific Biosciences Of California Inc.                    | Pacific Biosciences Of California Inc. COM USD0.0001                  | CUSIP: 69404D108<br>LEI: 529900F1BWRE1M0KZN89 | Long             | EC               | CORP              | US        |    127321 | NS      | $1041485.78   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Personalis Inc                                            | Personalis Inc COM USD0.0001                                          | CUSIP: 71535D106<br>LEI: 549300EZ2NYFK7H0US48 | Long             | EC               | CORP              | US        |     90267 | NS      | $178728.66    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc                             | Hudson Pacific Properties Inc COM USD0.01                             | CUSIP: 444097109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     99715 | NS      | $970226.95    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                                              | Illumina Inc COM USD0.01                                              | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |      2851 | NS      | $576472.20    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Intellia Therapeutics Inc                                 | Intellia Therapeutics Inc COM USD0.0001                               | CUSIP: 45826J105<br>LEI: 5493002T5BCPE5DZC723 | Long             | EC               | CORP              | US        |     14857 | NS      | $518360.73    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface, Inc.                                           | Interface, Inc. COM USD0.10                                           | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     29353 | NS      | $289714.11    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corporation               | International Business Machines Corporation COM USD0.20               | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     14216 | NS      | $2002892.24   | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitae Corporation                                       | Invitae Corporation COM USD0.0001                                     | CUSIP: 46185L103<br>LEI: 549300MYI59DZW1WIX92 | Long             | EC               | CORP              | US        |    221568 | NS      | $412116.48    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Enphase Energy Inc                                        | Enphase Energy Inc COM USD0.00001                                     | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |      2864 | NS      | $758845.44    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                                             | Equinix, Inc. COM USD0.001                                            | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1432 | NS      | $938002.96    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                                           | First Solar Inc COM STK USD0.001                                      | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      7313 | NS      | $1095414.27   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                                              | Fortinet Inc COM USD0.001                                             | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |     11098 | NS      | $542581.22    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. | Hannon Armstrong Sustainable Infrastructure Capital, Inc. COM USD0.01 | CUSIP: 41068X100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48385 | NS      | $1402197.30   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Horizon Technology Finance Corporation                    | Horizon Technology Finance Corporation COM                            | CUSIP: 44045A102<br>LEI: N/A                  | Long             | EC               | RF                | US        |     92888 | NS      | $1077500.80   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.                                    | Applied Materials Inc. COM USD0.01                                    | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     19303 | NS      | $1879726.14   | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcturus Therapeutics Holdings Inc                        | Arcturus Therapeutics Holdings Inc COM                                | CUSIP: 03969T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20975 | NS      | $355736.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Properties, Inc.                                   | Boston Properties, Inc. COM USD0.01                                   | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |      7211 | NS      | $487319.38    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Caribou Biosciences Inc                                   | Caribou Biosciences Inc COM                                           | CUSIP: 142038108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56454 | NS      | $354531.12    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                                  | Digital Realty Trust Inc COM STK USD0.01                              | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      9308 | NS      | $933313.16    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Editas Medicine Inc                                       | Editas Medicine Inc COM USD0.0001                                     | CUSIP: 28106W103<br>LEI: 5299000AON4Q9NT2JE42 | Long             | EC               | CORP              | US        |     95659 | NS      | $848495.33    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CRISPR Therapeutics AG                                    | CRISPR Therapeutics AG COM CHF0.03                                    | CUSIP: H17182108<br>LEI: 506700O6IRRIQLT3W370 | Long             | EC               | CORP              | CH        |     37801 | NS      | $1536610.65   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.              | Taiwan Semiconductor Manufacturing Co., Ltd. SPON ADS REP 5 ORD TWD10 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     31234 | NS      | $2326620.66   | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries, Inc.                          | Advanced Energy Industries, Inc. COM USD0.001                         | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |      3388 | NS      | $290622.64    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.                     | Alexandria Real Estate Equities, Inc. COM USD0.01                     | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |      7697 | NS      | $1121221.99   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc.                                       | Analog Devices Inc. COM USD0.16 2/3                                   | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      2851 | NS      | $467649.53    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                                | Apple Inc. COM USD0.00001                                             | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      3606 | NS      | $468527.58    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Danone SA                                                 | Danone SA EUR0.25                                                     | CUSIP: F12033134<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |      5741 | NS      | $301636.25    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Infineon Technologies AG                                  | Infineon Technologies AG ORD NPV (REGD)                               | CUSIP: D35415104<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |     43049 | NS      | $1306189.18   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                                         | ASML Holding N.V. NY REGISTRY SHS                                     | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      2838 | NS      | $1550683.20   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Maxeon Solar Technologies Limited                         | Maxeon Solar Technologies Limited COM NPV                             | CUSIP: Y58473102<br>LEI: 5493007JPB074ITT6Y72 | Long             | EC               | CORP              | SG        |     24998 | NS      | $401467.88    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Telecom Ltd.                                           | SK Telecom Ltd. SPONSORED ADR                                         | CUSIP: 78440P306<br>LEI: 9884003WEA1PHW006037 | Long             | EC               | CORP              | KR        |     38182 | NS      | $786167.38    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Limited                                               | ABB Limited SPON ADR EACH REP 1 ORD SHS                               | CUSIP: 000375204<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |     20966 | NS      | $638624.36    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-06

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

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

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

**Title:** President