# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001193125-26-067174
**Filing Date:** 2026-2
**Character Count:** 20044
**Document Hash:** 6afa68da18f4384b5904dc90cd5a9197
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-067174.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001193125-26-067174

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**PERIOD START**: 20260930

**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:** 26672070

**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 Chesapeake Strategy Fund (Series ID: S000066565)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000214735 | Class I Shares | EQCHX           |

## Nport-Ex

**AXS Chesapeake Strategy Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

**As of December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Principal<br> Amount | **SHORT-TERM INVESTMENTS — 83.6%** | Value |
| $365000 | UMB Bank, Money Market Fiduciary Deposit Investment, 0.01%<sup>1, 2</sup> | $365000 |
| 10958765 | UMB Bank, Institutional Banking Money Market II Deposit Investment, 3.06%<sup>1</sup> | 10958765 |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $11,323,765) | **11323765** |
|  | **TOTAL INVESTMENTS — 83.6%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $11,323,765) | **11323765** |
|  | Other Assets in Excess of Liabilities — 16.4% | 2219694 |
|  | **TOTAL NET ASSETS — 100.0%** | $**13543459** |

---

<sup>1</sup> The rate is the annualized seven-day yield at period end.

<sup>2</sup> All or a portion of this investment is a holding of AXS Chesapeake Strategy Fund Limited.

**AXS Chesapeake Strategy Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

**FUTURES CONTRACTS**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Long Contracts** | **Expiration<br> Date** | **Number of<br> Contracts** | **Notional<br> Value** | **Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Commodity Futures** |  |  |  |  |
| ICE Carbon Emissions<sup>1</sup> | December 2026 | 11 | $1129077 | $11118 |
| NYMEX NY Harbor ULSD<sup>1</sup> | February 2026 | 5 | 445515 | (3948) |
| **Currency Futures** |  |  |  |  |
| CME Australian Dollar | March 2026 | 4 | 266920 | 260 |
| CME British Pound | March 2026 | 18 | 1514025 | 3881 |
| CME Euro | March 2026 | 17 | 2503250 | (4186) |
| CME Mexican Peso | March 2026 | 113 | 3114280 | 16385 |
| CME Swiss Franc | March 2026 | 4 | 635375 | (550) |
| **Index Futures** |  |  |  |  |
| CBOT E-Mini Dow Jones Industrial Average | March 2026 | 4 | 966720 | (9780) |
| CME E-Mini NASDAQ 100 | March 2026 | 2 | 1018270 | 4798 |
| CME E-Mini S&P 500 | March 2026 | 3 | 1033875 | 1958 |
| Eurex Euro STOXX 50 | March 2026 | 11 | 754828 | 11053 |
| FTSE 100 | March 2026 | 8 | 1071951 | 23561 |
| FTSE/MIB | March 2026 | 4 | 1058576 | 17346 |
| ICE US Mini MSCI EAFE | March 2026 | 5 | 725525 | 5000 |
| ICE US MSCI Emerging Markets EM | March 2026 | 13 | 917410 | 27170 |
| Montreal Exchange S&P/TSX 60 | March 2026 | 15 | 4070026 | 24763 |
| SFE S&P ASX Share Price Index 200 | March 2026 | 6 | 868410 | 9109 |
| SGX Nikkei 225 | March 2026 | 3 | 48298 | (4281) |
| **Interest Rate Futures** |  |  |  |  |
| CBOT 2-Year U.S. Treasury Note | March 2026 | 13 | 2714258 | (1625) |
| CBOT 5-Year U.S. Treasury Note | March 2026 | 25 | 2732617 | (12500) |
| CBOT 10-Year U.S. Treasury Note | March 2026 | 16 | 1799000 | (16000) |
| Eurex BTP Italian | March 2026 | 18 | 2541400 | (10154) |
| ICF Long Gilt | March 2026 | 6 | 738941 | 3154 |
| **Total Long Contracts** |  |  | **32668547** | **96532** |

---

**AXS Chesapeake Strategy Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

**As of December 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short Contracts** | | | | |
| **Currency Futures** |  |  |  |  |
| CME Japanese Yen | March 2026 | (29) | (2326706) | 31575 |
| ICE Swedish Krona | March 2026 | (16) | (1595421) | 9315 |
| **Interest Rate Futures** |  |  |  |  |
| CBOT U.S. Ultra Long-Term Treasury Bond | March 2026 | (5) | (590000) | 15742 |
| Eurex 10 Year Euro BUND | March 2026 | (26) | (3896640) | 33917 |
| Eurex 30 Year Euro BUXL | March 2026 | (10) | (1293703) | 21859 |
| SFE Australian 10 Year Bond | March 2026 | (37) | (1175291) | (12541) |
| **Total Short Contracts** |  |  | **(10877761)** | **99867** |
| **TOTAL FUTURES CONTRACTS** |  |  | $**21790786** | $**196399** |

---

<sup>1</sup> This investment is a holding of AXS Chesapeake Strategy Fund Limited.

## 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 Chesapeake Strategy Fund

- **b. EDGAR series identifier (if any):** S000066565

- **c. LEI of Series:** 549300BPXRPGYQ5IAG64

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **Yes**

### Fund Information

**Total Assets:** $13915093.92

**Total Liabilities:** $143192.02

**Net Assets:** $13771901.90

**Amount of Assets Invested in Other Investment Companies:** $1367702.28

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000214735 | 0.78%                | 2.33%                | 4.77%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-9967.67                | $-18960.81                                 |
| Month 2  | $-15862.24               | $19287.70                                  |
| Month 3  | $5204.47                 | $17312.64                                  |

**Designated Index Information**

- **Index Name:** S&P 500

- **Index Identifier:** SPX

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AUD USD CURNCY FUT MAR 26   /         | AUD USD CURNCY FUT MAR 26   /         | CUSIP: 999999999<br>LEI: N/A | N/A              | DFE              |  | US        |         4 | NC      | $260.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AUSTRALIAN DOLLAR  /                  | AUSTRALIAN DOLLAR  /                  | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | AU        |     85967 | OU      | $57368.63     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BP CURRENCY FUTURE MAR 26   /         | BP CURRENCY FUTURE MAR 26   /         | CUSIP: 999999999<br>LEI: N/A | N/A              | DFE              |  | US        |        18 | NC      | $3881.25      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN DOLLARS  /                   | CANADIAN DOLLARS  /                   | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | CA        |    664506 | OU      | $484122.16    | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| E-MINI DOW MAR 26   /                 | E-MINI DOW MAR 26   /                 | CUSIP: 999999999<br>LEI: N/A | Long             | DE               |  | US        |         4 | NC      | $-9780.00     | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| EUR/USD FUTURE MARCH 2026   /         | EUR/USD FUTURE MARCH 2026   /         | CUSIP: 999999999<br>LEI: N/A | N/A              | DFE              |  | US        |        17 | NC      | $-4186.25     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| S&P 500 EMINI FUT MAR 26   /          | S&P 500 EMINI FUT MAR 26   /          | CUSIP: 999999999<br>LEI: N/A | Long             | DE               |  | US        |         3 | NC      | $1957.50      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO CURRENCY  /                      | EURO CURRENCY  /                      | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | XX        |    453517 | OU      | $532984.78    | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| 5YR T-NOTE FUTURE MAR 2026   /        | 5YR T-NOTE FUTURE MAR 2026   /        | CUSIP: 999999999<br>LEI: N/A | N/A              | DIR              |  | US        |        25 | NC      | $-12500.00    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| LONG GILT FUTURE MAR 2026   /         | LONG GILT FUTURE MAR 2026   /         | CUSIP: 999999999<br>LEI: N/A | N/A              | DIR              |  | GB        |         6 | NC      | $3154.06      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GREAT BRITAIN POUND  /                | GREAT BRITAIN POUND  /                | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | GB        |    107271 | OU      | $144590.11    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO - BTP FUTURE MAR 26   /          | EURO - BTP FUTURE MAR 26   /          | CUSIP: 999999999<br>LEI: N/A | N/A              | DIR              |  | DE        |        18 | NC      | $-10153.95    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| UMB IB MONEY MARKET II   /            | UMB IB MONEY MARKET II   /            | CUSIP: SF8888627<br>LEI: N/A | Long             | STIV             | CORP              | US        |  10999728 | PA      | $10999728.20  | 79.87%            |  |  |  | No            |                  1 | On Loan: No      |
| JAPANESE YEN  /                       | JAPANESE YEN  /                       | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | JP        |   1677000 | OU      | $10706.08     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| JPY YEN CURR FUT MARCH 26   /         | JPY YEN CURR FUT MARCH 26   /         | CUSIP: 999999999<br>LEI: N/A | N/A              | DFE              |  | US        |       -29 | NC      | $31573.75     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| USD   / SEK MAR 26   /                | USD   / SEK MAR 26   /                | CUSIP: 999999999<br>LEI: N/A | N/A              | DFE              |  | US        |       -16 | NC      | $9315.16      | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI EMGMKT FUT MAR 26   /            | MSCI EMGMKT FUT MAR 26   /            | CUSIP: 999999999<br>LEI: N/A | Long             | DE               |  | US        |        13 | NC      | $27170.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI EAFE INDEX MAR 26   /            | MSCI EAFE INDEX MAR 26   /            | CUSIP: 999999999<br>LEI: N/A | Long             | DE               |  | US        |         5 | NC      | $5000.00      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB MONEY MARKET FIDUCIARY   /        | UMB MONEY MARKET FIDUCIARY   /        | CUSIP: SF8888528<br>LEI: N/A | Long             | STIV             | CORP              | US        |  11820972 | PA      | $11820972.27  | 83.18%            |  |  |  | No            |                  1 | On Loan: No      |
| NIKKEI 225  (SGX) MAR 26   /          | NIKKEI 225  (SGX) MAR 26   /          | CUSIP: 999999999<br>LEI: N/A | Long             | DE               |  | SG        |         3 | NC      | $-4280.52     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| NASDAQ 100 E-MINI MARCH 2026   /      | NASDAQ 100 E-MINI MARCH 2026   /      | CUSIP: 999999999<br>LEI: N/A | Long             | DE               |  | US        |         2 | NC      | $4798.00      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MEXICAN PESO FUT MAR 2026   /         | MEXICAN PESO FUT MAR 2026   /         | CUSIP: 999999999<br>LEI: N/A | N/A              | DFE              |  | US        |       113 | NC      | $16385.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P/TORONTO 60 INDEX MAR 2026   /     | S&P/TORONTO 60 INDEX MAR 2026   /     | CUSIP: 999999999<br>LEI: N/A | Long             | DE               |  | CA        |        15 | NC      | $24763.22     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO-BUND FUTURES MAR 2026   /        | EURO-BUND FUTURES MAR 2026   /        | CUSIP: 999999999<br>LEI: N/A | N/A              | DIR              |  | DE        |       -26 | NC      | $33917.03     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| SWEDISH KRONA  /                      | SWEDISH KRONA  /                      | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | SE        |    696211 | OU      | $75621.68     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| CHF CURRENCY FUT MAR 26   /           | CHF CURRENCY FUT MAR 26   /           | CUSIP: 999999999<br>LEI: N/A | N/A              | DFE              |  | US        |         4 | NC      | $-550.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| FTSE/MIB IDX FUT MARCH 26   /         | FTSE/MIB IDX FUT MARCH 26   /         | CUSIP: 999999999<br>LEI: N/A | Long             | DE               |  | IT        |         4 | NC      | $17346.34     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| 2YR T-NOTE FUT MAR26 INDEX MAR 26   / | 2YR T-NOTE FUT MAR26 INDEX MAR 26   / | CUSIP: 999999999<br>LEI: N/A | N/A              | DIR              |  | US        |        13 | NC      | $-1625.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| SOUTH AFRICAN RAND  /                 | SOUTH AFRICAN RAND  /                 | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | ZA        |     37978 | OU      | $2293.35      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN DOLLARS  /                   | CANADIAN DOLLARS  /                   | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | CA        |     53707 | OU      | $39128.17     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO CURRENCY  /                      | EURO CURRENCY  /                      | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | XX        |    159482 | OU      | $187427.96    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NY HARBOR ULSD JAN 2026   /           | NY HARBOR ULSD JAN 2026   /           | CUSIP: 999999999<br>LEI: N/A | N/A              | DCO              |  | US        |         5 | NC      | $-3948.00     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE ECX EMISSION DEC 25   /           | ICE ECX EMISSION DEC 25   /           | CUSIP: 999999999<br>LEI: N/A | N/A              | DO               |  | NL        |        11 | NC      | $11117.64     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MALAYSIAN RINGGIT  /                  | MALAYSIAN RINGGIT  /                  | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | MY        |    264557 | OU      | $65193.84     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| 10 YR T-NOTE FUTURE MAR 2026   /      | 10 YR T-NOTE FUTURE MAR 2026   /      | CUSIP: 999999999<br>LEI: N/A | N/A              | DIR              |  | US        |        16 | NC      | $-16000.00    | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| EURO BUXL 30YR BND MAR 26   /         | EURO BUXL 30YR BND MAR 26   /         | CUSIP: 999999999<br>LEI: N/A | N/A              | DIR              |  | DE        |       -10 | NC      | $21859.21     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO STOXX 50 MAR 26   /              | EURO STOXX 50 MAR 26   /              | CUSIP: 999999999<br>LEI: N/A | Long             | DE               |  | DE        |        11 | NC      | $11053.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTRA LONG T-BOND FUTURE MAR 2026   / | ULTRA LONG T-BOND FUTURE MAR 2026   / | CUSIP: 999999999<br>LEI: N/A | N/A              | DIR              |  | US        |        -5 | NC      | $15742.19     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AUST 10Y BOND FUT MAR 26   /          | AUST 10Y BOND FUT MAR 26   /          | CUSIP: 999999999<br>LEI: N/A | N/A              | DIR              |  | AU        |       -37 | NC      | $-12540.75    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| SPI 200 FUTURES MAR 26   /            | SPI 200 FUTURES MAR 26   /            | CUSIP: 999999999<br>LEI: N/A | Long             | DE               |  | AU        |         6 | NC      | $9109.11      | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FTSE 100 IDX FUT MARCH 2026   /       | FTSE 100 IDX FUT MARCH 2026   /       | CUSIP: 999999999<br>LEI: N/A | Long             | DE               |  | GB        |         8 | NC      | $23561.13     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-08

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

**Signature:** /s/ Scott Schulenburg

**Name of Signer:** Scott Schulenburg

**Title:** President