# EDGAR Filing Document

**Accession Number:** 0001587982
**File Stem:** 0001193125-25-303801
**Filing Date:** 2025-12
**Character Count:** 112349
**Document Hash:** 2e87736f8e2e76212bccf5eb76c00544
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-303801.hdr.sgml**: 20251201

**ACCESSION NUMBER**: 0001193125-25-303801

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251201

**DATE AS OF CHANGE**: 20251201

**PERIOD START**: 20260630

**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:** 251539387

**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

### Abraham Fortress Fund (Series ID: S000073686)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000230760 | Class I      | FORTX           |
| C000230762 | Class K      | FORKX           |

## Nport-Ex

**Abraham Fortress Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS — 35.0%<sup>1</sup>** |  |
|  | **COMMUNICATIONS — 3.6%** |  |
| 5440 | Alphabet, Inc. - Class A | $1322464 |
| 2912 | AT&T, Inc. | 82235 |
| 17 | Booking Holdings, Inc. | 91788 |
| 83 | Charter Communications, Inc. - Class A\* | 22834 |
| 1863 | Comcast Corp. - Class A | 58535 |
| 1134 | Meta Platforms, Inc. - Class A | 832787 |
| 181 | Netflix, Inc.\* | 217005 |
| 509 | T-Mobile US, Inc. | 121844 |
| 1712 | Verizon Communications, Inc. | 75242 |
| 741 | Walt Disney Co. | 84845 |
| 704 | Warner Bros Discovery, Inc.\* | 13749 |
|  |  | **2923328** |
|  | **CONSUMER DISCRETIONARY — 2.6%** |  |
| 4140 | Amazon.com, Inc.\* | 909020 |
| 110 | Aptiv PLC\*<sup>2</sup> | 9484 |
| 8 | AutoZone, Inc.\* | 34322 |
| 550 | Chipotle Mexican Grill, Inc.\* | 21555 |
| 255 | eBay, Inc. | 23192 |
| 1629 | Ford Motor Co. | 19483 |
| 592 | General Motors Co. | 36094 |
| 426 | Home Depot, Inc. | 172611 |
| 275 | Lowe's Cos., Inc. | 69110 |
| 133 | Marriott International, Inc. - Class A | 34639 |
| 305 | McDonald's Corp. | 92686 |
| 645 | NIKE, Inc. - Class B | 44976 |
| 405 | O'Reilly Automotive, Inc.\* | 43663 |
| 478 | Starbucks Corp. | 40439 |
| 1169 | Tesla, Inc.\* | 519878 |
| 486 | TJX Cos., Inc. | 70246 |
|  |  | **2141398** |
|  | **CONSUMER STAPLES — 3.5%** |  |
| 749 | Altria Group, Inc. | 49479 |
| 3655 | Cal-Maine Foods, Inc. | 343935 |
| 14897 | Campbell's Co. | 470447 |
| 3914 | Clorox Co. | 482596 |
| 1761 | Coca-Cola Co. | 116790 |
| 344 | Colgate-Palmolive Co. | 27499 |
| 77 | Constellation Brands, Inc. - Class A | 10370 |
| 181 | Costco Wholesale Corp. | 167539 |
| 94 | Dollar General Corp. | 9715 |
| 147 | Estee Lauder Cos., Inc. - Class A | 12954 |

---

**Abraham Fortress Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS <sup>1</sup> (Continued)** |  |
|  | **CONSUMER STAPLES (Continued)** |  |
| 137 | Kimberly-Clark Corp. | $17035 |
| 499 | Kraft Heinz Co. | 12994 |
| 5937 | Kroger Co. | 400213 |
| 569 | Mondelez International, Inc. - Class A | 35545 |
| 432 | Monster Beverage Corp.\* | 29078 |
| 564 | PepsiCo, Inc. | 79208 |
| 635 | Philip Morris International, Inc. | 102997 |
| 987 | Procter & Gamble Co. | 151653 |
| 195 | Target Corp. | 17491 |
| 3393 | Walmart, Inc. | 349683 |
|  |  | **2887221** |
|  | **ENERGY — 0.6%** |  |
| 786 | Chevron Corp. | 122058 |
| 538 | ConocoPhillips | 50889 |
| 239 | EOG Resources, Inc. | 26797 |
| 1978 | Exxon Mobil Corp. | 223019 |
| 572 | Schlumberger N.V.<sup>2</sup> | 19660 |
|  |  | **442423** |
|  | **FINANCIALS — 3.6%** |  |
| 316 | American Express Co. | 104963 |
| 339 | American International Group, Inc. | 26625 |
| 90 | Aon PLC - Class A<sup>2</sup> | 32092 |
| 3337 | Bank of America Corp. | 172156 |
| 337 | Bank of New York Mellon Corp. | 36720 |
| 913 | Berkshire Hathaway, Inc. - Class B\* | 459002 |
| 62 | Blackrock, Inc. | 72284 |
| 174 | Capital One Financial Corp. | 36989 |
| 771 | Charles Schwab Corp. | 73607 |
| 176 | Chubb Ltd.<sup>2</sup> | 49676 |
| 809 | Citigroup, Inc. | 82113 |
| 147 | CME Group, Inc. | 39718 |
| 248 | Fidelity National Information Services, Inc. | 16353 |
| 269 | Fiserv, Inc.\* | 34682 |
| 142 | Goldman Sachs Group, Inc. | 113082 |
| 230 | Intercontinental Exchange, Inc. | 38750 |
| 1205 | JPMorgan Chase & Co. | 380093 |
| 206 | Marsh & McLennan Cos., Inc. | 41515 |
| 401 | Mastercard, Inc. - Class A | 228093 |
| 343 | MetLife, Inc. | 28253 |
| 76 | Moody's Corp. | 36212 |
| 732 | Morgan Stanley | 116359 |

---

**Abraham Fortress Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value  |
|  | **COMMON STOCKS <sup>1</sup> (Continued)** |  |
|  | **FINANCIALS (Continued)** |  |
| 34 | MSCI, Inc. | $19292 |
| 479 | PayPal Holdings, Inc.\* | 32122 |
| 172 | PNC Financial Services Group, Inc. | 34560 |
| 238 | Progressive Corp. | 58774 |
| 144 | S&P Global, Inc. | 70086 |
| 92 | T. Rowe Price Group, Inc. | 9443 |
| 544 | Truist Financial Corp. | 24872 |
| 605 | U.S. Bancorp | 29240 |
| 888 | Visa, Inc. - Class A | 303145 |
| 1626 | Wells Fargo & Co. | 136291 |
|  |  | **2937162** |
|  | **HEALTH CARE — 2.4%** |  |
| 721 | Abbott Laboratories | 96571 |
| 721 | AbbVie, Inc. | 166940 |
| 123 | Agilent Technologies, Inc. | 15787 |
| 32 | Align Technology, Inc.\* | 4007 |
| 230 | Amgen, Inc. | 64906 |
| 204 | Baxter International, Inc. | 4645 |
| 116 | Becton Dickinson & Co. | 21712 |
| 581 | Boston Scientific Corp.\* | 56723 |
| 905 | Bristol-Myers Squibb Co. | 40815 |
| 238 | Centene Corp.\* | 8492 |
| 135 | Cigna Group | 38914 |
| 538 | CVS Health Corp. | 40560 |
| 291 | Danaher Corp. | 57694 |
| 160 | Dexcom, Inc.\* | 10766 |
| 255 | Edwards Lifesciences Corp.\* | 19831 |
| 99 | Elevance Health, Inc. | 31989 |
| 390 | Eli Lilly & Co. | 297570 |
| 23 | Embecta Corp. | 325 |
| 149 | GE HealthCare Technologies, Inc. | 11190 |
| 511 | Gilead Sciences, Inc. | 56721 |
| 10 | GRAIL, Inc.\* | 591 |
| 127 | HCA Healthcare, Inc. | 54127 |
| 52 | Humana, Inc. | 13529 |
| 35 | IDEXX Laboratories, Inc.\* | 22361 |
| 64 | Illumina, Inc.\* | 6078 |
| 146 | Intuitive Surgical, Inc.\* | 65296 |
| 78 | IQVIA Holdings, Inc.\* | 14815 |
| 1073 | Johnson & Johnson | 198956 |
| 548 | Medtronic PLC<sup>2</sup> | 52191 |
| 1030 | Merck & Co., Inc. | 86448 |

---

**Abraham Fortress Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS <sup>1</sup> (Continued)** |  |
|  | **HEALTH CARE (Continued)** |  |
| 165 | Moderna, Inc.\* | $4262 |
| 2288 | Pfizer, Inc. | 58298 |
| 44 | Regeneron Pharmaceuticals, Inc. | 24740 |
| 58 | Solventum Corp.\* | 4234 |
| 154 | Stryker Corp. | 56929 |
| 161 | Thermo Fisher Scientific, Inc. | 78088 |
| 384 | UnitedHealth Group, Inc. | 132595 |
| 104 | Vertex Pharmaceuticals, Inc.\* | 40731 |
| 193 | Zoetis, Inc. | 28240 |
|  |  | **1988667** |
|  | **INDUSTRIALS — 2.3%** |  |
| 235 | 3M Co. | 36467 |
| 488 | Amphenol Corp. - Class A | 60390 |
| 172 | Automatic Data Processing, Inc. | 50482 |
| 240 | Boeing Co.\* | 51799 |
| 353 | Carrier Global Corp. | 21074 |
| 221 | Caterpillar, Inc. | 105450 |
| 168 | Cintas Corp. | 34484 |
| 904 | CSX Corp. | 32101 |
| 125 | Deere & Co. | 57158 |
| 163 | Eaton Corp. PLC<sup>2</sup> | 61003 |
| 243 | Emerson Electric Co. | 31877 |
| 108 | FedEx Corp. | 25467 |
| 112 | GE Vernova, Inc. | 68869 |
| 114 | General Dynamics Corp. | 38874 |
| 448 | General Electric Co. | 134767 |
| 281 | Honeywell International, Inc. | 59150 |
| 128 | Illinois Tool Works, Inc. | 33377 |
| 287 | Johnson Controls International plc<sup>2</sup> | 31556 |
| 80 | L3Harris Technologies, Inc. | 24433 |
| 112 | Lockheed Martin Corp. | 55912 |
| 99 | Norfolk Southern Corp. | 29741 |
| 65 | Northrop Grumman Corp. | 39606 |
| 94 | Old Dominion Freight Line, Inc. | 13233 |
| 147 | Paychex, Inc. | 18634 |
| 129 | Republic Services, Inc. | 29603 |
| 901 | Rheinmetall A.G. - ADR<sup>2</sup> | 419632 |
| 610 | RTX Corp. | 102071 |
| 133 | TE Connectivity PLC<sup>2</sup> | 29197 |
| 97 | Trane Technologies PLC<sup>2</sup> | 40930 |
| 262 | Union Pacific Corp. | 61929 |
| 354 | United Parcel Service, Inc. - Class B | 29570 |

---

**Abraham Fortress Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS <sup>1</sup> (Continued)** |  |
|  | **INDUSTRIALS (Continued)** |  |
| 97 | Veralto Corp. | $10341 |
| 171 | Waste Management, Inc. | 37762 |
|  |  | **1876939** |
|  | **MATERIALS — 1.8%** |  |
| 90 | Air Products and Chemicals, Inc. | 24545 |
| 3326 | Anglogold Ashanti Plc<sup>2</sup> | 233917 |
| 43352 | B2Gold Corp.<sup>2</sup> | 214592 |
| 211 | DuPont de Nemours, Inc. | 16437 |
| 117 | Ecolab, Inc. | 32042 |
| 1532 | Franco-Nevada Corp.<sup>2</sup> | 341498 |
| 599 | Freeport-McMoRan, Inc. | 23493 |
| 9659 | Kinross Gold Corp.<sup>2</sup> | 240026 |
| 208 | Linde PLC<sup>2</sup> | 98800 |
| 325 | Newmont Corp. | 27401 |
| 16270 | Sandstorm Gold Ltd.<sup>2</sup> | 203700 |
| 107 | Sherwin-Williams Co. | 37050 |
|  |  | **1493501** |
|  | **REAL ESTATE — 0.2%** |  |
| 186 | American Tower Corp. - REIT | 35772 |
| 176 | Crown Castle, Inc. - REIT | 16982 |
| 119 | Digital Realty Trust, Inc. - REIT | 20573 |
| 37 | Equinix, Inc. - REIT | 28980 |
| 302 | Prologis, Inc. - REIT | 34585 |
| 71 | Public Storage - REIT | 20508 |
| 134 | Simon Property Group, Inc. - REIT | 25148 |
|  |  | **182548** |
|  | **TECHNOLOGY — 9.3%** |  |
| 269 | Accenture PLC - Class A<sup>2</sup> | 66335 |
| 194 | Adobe, Inc.\* | 68433 |
| 666 | Advanced Micro Devices, Inc.\* | 107752 |
| 214 | Analog Devices, Inc. | 52580 |
| 6739 | Apple, Inc. | 1715952 |
| 362 | Applied Materials, Inc. | 74116 |
| 500 | Arista Networks, Inc.\* | 72855 |
| 90 | Autodesk, Inc.\* | 28590 |
| 1680 | Broadcom, Inc. | 554249 |
| 113 | Cadence Design Systems, Inc.\* | 39692 |
| 1720 | Cisco Systems, Inc. | 117682 |
| 214 | Cognizant Technology Solutions Corp. - Class A | 14353 |
| 335 | Fortinet, Inc.\* | 28167 |
| 1658 | Intel Corp. | 55626 |

---

**Abraham Fortress Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS <sup>1</sup> (Continued)** |  |
|  | **TECHNOLOGY (Continued)** |  |
| 366 | International Business Machines Corp. | $103271 |
| 115 | Intuit, Inc. | 78535 |
| 62 | KLA Corp. | 66873 |
| 570 | Lam Research Corp. | 76323 |
| 226 | Microchip Technology, Inc. | 14514 |
| 457 | Micron Technology, Inc. | 76465 |
| 3061 | Microsoft Corp. | 1585445 |
| 69 | Motorola Solutions, Inc. | 31553 |
| 10190 | NVIDIA Corp. | 1901250 |
| 108 | NXP Semiconductors N.V.<sup>2</sup> | 24595 |
| 1089 | Oracle Corp. | 306270 |
| 457 | QUALCOMM, Inc. | 76026 |
| 43 | Roper Technologies, Inc. | 21444 |
| 402 | Salesforce, Inc. | 95274 |
| 81 | ServiceNow, Inc.\* | 74543 |
| 63 | Synopsys, Inc.\* | 31084 |
| 377 | Texas Instruments, Inc. | 69266 |
|  |  | **7629113** |
|  | **UTILITIES — 5.1%** |  |
| 3249 | Alliant Energy Corp. | 219015 |
| 2099 | Ameren Corp. | 219094 |
| 1925 | American Electric Power Co., Inc. | 216562 |
| 1427 | American Water Works Co., Inc. | 198624 |
| 1315 | Atmos Energy Corp. | 224536 |
| 2858 | CMS Energy Corp. | 209377 |
| 2011 | Consolidated Edison, Inc. | 202146 |
| 962 | Constellation Energy Corp. | 316565 |
| 330 | Dominion Energy, Inc. | 20186 |
| 1507 | DTE Energy Co. | 213135 |
| 314 | Duke Energy Corp. | 38857 |
| 2472 | Entergy Corp. | 230366 |
| 2967 | Evergy, Inc. | 225551 |
| 3105 | Eversource Energy | 220890 |
| 4679 | Exelon Corp. | 210602 |
| 4971 | FirstEnergy Corp. | 227771 |
| 800 | NextEra Energy, Inc. | 60392 |
| 5685 | PPL Corp. | 211255 |
| 2455 | Public Service Enterprise Group, Inc. | 204894 |
| 2471 | Southern Co. | 234177 |

---

**Abraham Fortress Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS <sup>1</sup> (Continued)** |  |
|  | **UTILITIES (Continued)** |  |
| 1918 | WEC Energy Group, Inc. | $219784 |
|  |  | **4123779** |
|  | **TOTAL COMMON STOCKS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $20,519,228) | **28626079** |

---

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  |  |
|  | **U.S. TREASURY BILLS — 49.8%** |  |
|  | United States Treasury Bill |  |
| $500000 | &nbsp;&nbsp;&nbsp;4.007%, 10/9/2025<sup>3,4,5</sup> | 499550 |
| 15200000 | &nbsp;&nbsp;&nbsp;4.066%, 10/23/2025<sup>3,4,5</sup> | 15162578 |
| 6000000 | &nbsp;&nbsp;&nbsp;4.137%, 11/18/2025<sup>4</sup> | 5968074 |
| 19200000 | &nbsp;&nbsp;&nbsp;3.814%, 12/18/2025<sup>3,4,5</sup> | 19038931 |
|  | **TOTAL U.S. TREASURY BILLS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $40,670,023) | **40669133** |
|  | **U.S. TREASURY NOTES — 19.9%** |  |
|  | United States Treasury Note |  |
| 3750000 | &nbsp;&nbsp;&nbsp;4.125%, 11/15/2032 | 3794531 |
| 4375000 | &nbsp;&nbsp;&nbsp;3.375%, 5/15/2033 | 4203417 |
| 3800000 | &nbsp;&nbsp;&nbsp;4.500%, 11/15/2033 | 3929287 |
| 3700000 | &nbsp;&nbsp;&nbsp;4.375%, 5/15/2034 | 3786140 |
| 525000 | &nbsp;&nbsp;&nbsp;4.250%, 11/15/2034 | 530988 |
|  | **TOTAL U.S. TREASURY NOTES** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $16,063,766) | **16244363** |

---

---

| | |
|:---|:---|
| Number<br> of Shares |  |
|  | **WARRANTS — 0.0%** |
|  | **HEALTH CARE — 0.0%** |
| 352 | Walgreens Boots Alliance, Inc., Expiration Date: December 30, 2026\* |
|  | **TOTAL WARRANTS** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $0) |

---

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  |  |
|  | **SHORT-TERM INVESTMENTS — 0.0%** |  |
| $10 | UMB Bank, Money Market Fiduciary Deposit Investment, 0.01%<sup>3,5,6</sup> | 10 |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $10) | **10** |
|  | **TOTAL INVESTMENTS — 104.7%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $77,253,027) | **85539585** |
|  | Liabilities in Excess of Other Assets — (4.7)% | (3802310) |
|  | **TOTAL NET ASSETS — 100.0%** | $**81737275** |

---

**Abraham Fortress Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

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

PLC – Public Limited Company <br> ADR – American Depository Receipt <br> REIT – Real Estate Investment Trusts

\* Non-income producing security.

<sup>1</sup> See additional notional stock exposure value via stock index futures on page 10.

<sup>2</sup> Foreign security denominated in U.S. dollars.

<sup>3</sup> All or a portion of this security is segregated as collateral for derivatives. The market value of the securities pledged as collateral was $0, which represents 0.00% of total net assets of the Fund.

<sup>4</sup> The rate is the effective yield as of September 30, 2025.

<sup>5</sup> All or a portion of this security is a holding of Abraham Fortress Fund, Ltd.

<sup>6</sup> The rate is the annualized seven-day yield at period end.

**Abraham Fortress Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Long Contracts** | **Expiration <br> Date** | **Number of <br> Contracts** | **Notional <br> Value** | **Value at <br> September 30, 2025** | **Unrealized <br> Appreciation <br> (Depreciation)** |
| **Commodity Futures** |  |  |  |  |  |
| CME Gold<sup>1</sup> | &nbsp;&nbsp;December 2025 | 31 | $10800512 | $12006920 | $1206408 |
| **Currency Futures** |  |  |  |  |  |
| CME Euro | &nbsp;&nbsp;December 2025 | 13 | 1914996 | 1916200 | 1204 |
| CME Swiss Franc | &nbsp;&nbsp;December 2025 | 12 | 1900918 | 1900950 | 32 |
| **Index Futures** |  |  |  |  |  |
| NYF MSCI EAFE Index | &nbsp;&nbsp;December 2025 | 114 | 15932437 | 15876210 | (56227) |
| **Total Long Contracts** |  |  | $**30548863** | $**31700280** | $**1151417** |
| **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | $**30548863** | $**31700280** | $**1151417** |

---

<sup>1</sup> All or a portion of this security is a holding of Abraham Fortress Fund Ltd.

**Abraham Fortress Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

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

**SWAP CONTRACTS**

**(OTC) TOTAL RETURN SWAP**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Pay/Receive<br> Total Return on<br> Reference Entity | Financing <br> Rate Paid <sup>1</sup> | Payment<br> Frequency | Termination<br> Date | Notional<br> Value | Unrealized <br> Appreciation<br> (Depreciation) |
| Deutsche Bank &nbsp;&nbsp;Abraham Fortress dbSelect Index <sup>2</sup> | &nbsp;&nbsp;Receive | &nbsp;&nbsp;0.45% of Notional Value | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;June 13, 2029 | $66057632 | $(8637226) |
| **TOTAL SWAP CONTRACTS** |  |  |  |  |  | $**(8637226)** |

---

 

<sup>1</sup> Financing rate is based upon notional trading amounts at period end.

<sup>2</sup> This investment is a holding of the Abraham Fortress Fund Ltd. and is comprised of a proprietary basket of alternative programs investing in various futures contracts and forward foreign currency exchange contracts.

**Total Return Swap Top Holdings ^**

**FUTURES CONTRACTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Expiration <br> Date | Number of<br> Long<br> Contracts | Notional<br> Value | Unrealized<br> Appreciation<br> (Depreciation) | Percentage<br> of Custom Swap's<br> Unrealized<br> Appreciation<br> (Depreciation) |
| CMX Gold | &nbsp;&nbsp;December 2025 | 22 | $8444908 | $356545 | 24.72% |
| CME SOFR 3month | &nbsp;&nbsp;September 2028 | 27 | 6545901 | (8456) | -0.59% |
| CME Live Cattle Future | &nbsp;&nbsp;October 2026 | 55 | 4905483 | 25975 | 1.80% |
| NYB Cotton No.2 Future | &nbsp;&nbsp;March 2026 | 133 | 4509460 | (34487) | -2.39% |
| CBT Soybean Oil Future | &nbsp;&nbsp;July 2026 | 133 | 4033236 | (149806) | -10.39% |
| CME Feeder Cattle Future | &nbsp;&nbsp;August 2026 | 21 | 3582607 | 31163 | 2.16% |
| ICE Brent Crude Monthly Future | &nbsp;&nbsp;November 2025 | 51 | 3325767 | (33791) | -2.34% |
| CMX Silver | &nbsp;&nbsp;December 2025 | 14 | 3234711 | 316283 | 21.93% |
| CME SOFR 3month | &nbsp;&nbsp;September 2027 | 13 | 3197572 | (3764) | -0.26% |
| NYB Sugar No.11 Future | &nbsp;&nbsp;April 2026 | 176 | 3160361 | 36379 | 2.52% |
| LIF White Sugar Future | &nbsp;&nbsp;November 2025 | 134 | 3123382 | 6227 | 0.43% |
| LIF White Sugar Future | &nbsp;&nbsp;February 2026 | 135 | 3102676 | 42766 | 2.97% |
| ICE Brent Crude Monthly Future | &nbsp;&nbsp;December 2025 | 46 | 3034218 | (83742) | -5.81% |
| CBT 10 year US Treasury Notes | &nbsp;&nbsp;December 2025 | 26 | 2941375 | 1709 | 0.12% |
| CBT Wheat Future | &nbsp;&nbsp;December 2025 | 87 | 2242101 | (99548) | -6.90% |
| CME E-Mini S&P 500 | &nbsp;&nbsp;December 2025 | 7 | 2229724 | 3063 | 0.21% |
| CME E-Mini Nasdaq-100 | &nbsp;&nbsp;December 2025 | 4 | 2185668 | 12077 | 0.84% |
| CBT 5 year US Treasury Notes | &nbsp;&nbsp;December 2025 | 18 | 2013713 | (2144) | -0.15% |
| LIF 3 month Euro (EURIBOR) | &nbsp;&nbsp;September 2028 | 7 | 1937236 | (712) | -0.05% |
| CBT Wheat Future | &nbsp;&nbsp;March 2026 | 71 | 1905271 | (74803) | -5.19% |
| CBT 30 year US Treasury Bonds | &nbsp;&nbsp;December 2025 | 16 | 1850930 | 2936 | 0.20% |
| SFE 3 year Australian Treasury Bond | &nbsp;&nbsp;December 2025 | 26 | 1842908 | (2007) | -0.14% |
| EUX DAX Index Future | &nbsp;&nbsp;December 2025 | 3 | 1834584 | 26611 | 1.85% |
| IFLL 3 Month SONIA Index | &nbsp;&nbsp;September 2027 | 6 | 1834123 | (1353) | -0.09% |
| CME GBP/USD | &nbsp;&nbsp;December 2025 | 21 | 1762194 | (11133) | -0.77% |
| HKG Hang Seng Index | &nbsp;&nbsp;October 2025 | 10 | 1745990 | 12379 | 0.86% |
| CBT 2 year US Treasury Notes | &nbsp;&nbsp;December 2025 | 8 | 1673487 | (372) | -0.03% |
| LIF FTSE 100 Index Future | &nbsp;&nbsp;December 2025 | 13 | 1623978 | 12975 | 0.90% |
| CME Feeder Cattle Future | &nbsp;&nbsp;April 2026 | 9 | 1509467 | (4626) | -0.32% |
| CME Lean Hog Future | &nbsp;&nbsp;October 2025 | 34 | 1368501 | 44877 | 3.11% |
| CME SOFR 3month | &nbsp;&nbsp;December 2027 | 6 | 1345318 | (1157) | -0.08% |
| LME Copper Grade A Future | &nbsp;&nbsp;December 2025 | 5 | 1320964 | 47856 | 3.32% |
| SGX Nikkei 225 Index | &nbsp;&nbsp;December 2025 | 9 | 1293347 | 18714 | 1.30% |
| CME SOFR 3month | &nbsp;&nbsp;March 2027 | 5 | 1253481 | (1359) | -0.09% |
| MSE 10 year Canadian Govt Bond | &nbsp;&nbsp;December 2025 | 14 | 1240666 | 1722 | 0.12% |
| CME SOFR 3month | &nbsp;&nbsp;March 2028 | 5 | 1226020 | (412) | -0.03% |
| NYM Light Sweet Crude Oil (WTI) Future | &nbsp;&nbsp;November 2025 | 19 | 1204927 | (23375) | -1.62% |
| MSE Three-Month CORRA Futures | &nbsp;&nbsp;June 2026 | 7 | 1191577 | 646 | 0.04% |
| CME Lean Hog Future | &nbsp;&nbsp;July 2026 | 28 | 1138272 | 33486 | 2.32% |
| CME SOFR 3month | &nbsp;&nbsp;June 2027 | 5 | 1117240 | (1111) | -0.08% |
| SFE 90 Day Bank Accepted Bill Future | &nbsp;&nbsp;June 2026 | 7 | 1109695 | (2261) | -0.16% |
| NYM NY Harbour ULSD Future | &nbsp;&nbsp;November 2025 | 11 | 1074898 | (7543) | -0.52% |
| ICE Mini MSCI Emerging Markets Index Future | &nbsp;&nbsp;December 2025 | 15 | 1000522 | 4146 | 0.29% |
| CME SOFR 3month | &nbsp;&nbsp;June 2028 | 4 | 997036 | (284) | -0.02% |
| EUX 10 year Italian Bond | &nbsp;&nbsp;December 2025 | 7 | 987033 | 1121 | 0.08% |
| MSE Three-Month CORRA Futures | &nbsp;&nbsp;September 2026 | 5 | 860276 | 696 | 0.05% |
| CME EUR/JPY | &nbsp;&nbsp;December 2025 | 6 | 856725 | 3752 | 0.26% |
| ICE Gasoil Monthly Future | &nbsp;&nbsp;December 2025 | 13 | 845357 | 438 | 0.03% |
| MSE S&P Canada 60 Index Future | &nbsp;&nbsp;December 2025 | 3 | 802731 | 6840 | 0.47% |
| KCB Hard Red Winter Wheat Future | &nbsp;&nbsp;March 2026 | 30 | 792906 | (18124) | -1.26% |
| OSE TOPIX Future | &nbsp;&nbsp;December 2025 | 4 | 783775 | (6124) | -0.42% |
| MSE Three-Month CORRA Futures | &nbsp;&nbsp;March 2026 | 4 | 773614 | 287 | 0.02% |
| ICE Gasoil Monthly Future | &nbsp;&nbsp;January 2026 | 11 | 741906 | (10095) | -0.70% |
| SFE 10 year Australian Treasury Bond Future | &nbsp;&nbsp;December 2025 | 10 | 716551 | (208) | -0.01% |
|  |  |  | $111376369 | $468872 |  |

---

**Abraham Fortress Fund**

**CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

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

**FUTURES CONTRACTS - Continued**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Expiration <br> Date | Number of <br> Short <br> Contracts | Notional <br> Value | Unrealized <br> Appreciation <br> (Depreciation) | Percentage<br> of Custom Swap's<br> Unrealized<br> Appreciation<br> (Depreciation) |
| NYM Platinum | &nbsp;&nbsp;January 2026 | 9 | $714256 | $42687 | 2.96% |
| NYM Henry Hub Natural Gas Future | &nbsp;&nbsp;February 2026 | 19 | 704262 | (159) | -0.01% |
| MSE Three-Month CORRA Futures | &nbsp;&nbsp;December 2026 | 4 | 687943 | 681 | 0.05% |
| LIF 3 month Euro (EURIBOR) | &nbsp;&nbsp;September 2027 | 2 | 669697 | (299) | -0.02% |
| LME Primary High Grade Aluminium Future | &nbsp;&nbsp;December 2025 | 10 | 660650 | 8819 | 0.61% |
| EUX Euro-BOBL | &nbsp;&nbsp;December 2025 | (53) | (7269065) | (1372) | -0.10% |
| CME EUR/USD | &nbsp;&nbsp;December 2025 | (46) | (6759975) | 20795 | 1.44% |
| LIF 3 month Euro (EURIBOR) | &nbsp;&nbsp;June 2026 | (23) | (6613858) | 5811 | 0.40% |
| NYB Cotton No.2 Future | &nbsp;&nbsp;December 2025 | (188) | (6197503) | 51490 | 3.57% |
| IFLL 3 Month SONIA Index | &nbsp;&nbsp;September 2026 | (18) | (5894792) | 1478 | 0.10% |
| NYB Sugar No.11 Future | &nbsp;&nbsp;June 2026 | (331) | (5884159) | 155270 | 10.77% |
| NYM Light Sweet Crude Oil (WTI) Future | &nbsp;&nbsp;October 2025 | (88) | (5457853) | 76902 | 5.33% |
| CME SOFR 3month | &nbsp;&nbsp;September 2026 | (21) | (5121803) | (3270) | -0.23% |
| EUX 2 year Euro-Schatz | &nbsp;&nbsp;December 2025 | (39) | (4874057) | (131) | -0.01% |
| CME JPY/USD | &nbsp;&nbsp;December 2025 | (57) | (4874003) | 27030 | 1.87% |
| CBT Soybean Oil Future | &nbsp;&nbsp;December 2025 | (129) | (3830484) | 148305 | 10.28% |
| CME Live Cattle Future | &nbsp;&nbsp;June 2026 | (36) | (3306768) | (6914) | -0.48% |
| MGE Hard Red Spring Wheat Future | &nbsp;&nbsp;December 2025 | (113) | (3212387) | 89011 | 6.17% |
| LIF 3 month Euro (EURIBOR) | &nbsp;&nbsp;December 2026 | (11) | (3163182) | 300 | 0.02% |
| NYB Sugar No.11 Future | &nbsp;&nbsp;February 2026 | (166) | (3077575) | (29241) | -2.03% |
| CME Feeder Cattle Future | &nbsp;&nbsp;November 2025 | (16) | (2842095) | (148) | -0.01% |
| CME CAD/USD | &nbsp;&nbsp;December 2025 | (38) | (2768050) | 18281 | 1.27% |
| KCB Hard Red Winter Wheat Future | &nbsp;&nbsp;December 2025 | (100) | (2530476) | 62304 | 4.32% |
| NSEIFSC IFSC NIFTY 50 Index Futures | &nbsp;&nbsp;October 2025 | (48) | (2358442) | 11640 | 0.81% |
| CME AUD/USD | &nbsp;&nbsp;December 2025 | (35) | (2301059) | 105 | 0.01% |
| OSE 10 year Japanese Government Bond | &nbsp;&nbsp;December 2025 | (2) | (2162958) | 1607 | 0.11% |
| LIF 3 month Euro (EURIBOR) | &nbsp;&nbsp;March 2026 | (6) | (1691349) | 758 | 0.05% |
| CME Feeder Cattle Future | &nbsp;&nbsp;March 2026 | (9) | (1616983) | (39210) | -2.72% |
| NYM Gasoline RBOB Future | &nbsp;&nbsp;October 2025 | (19) | (1534646) | 20491 | 1.42% |
| CME Live Cattle Future | &nbsp;&nbsp;December 2025 | (15) | (1437936) | 24931 | 1.73% |
| CBT Soybeans Future | &nbsp;&nbsp;November 2025 | (27) | (1346998) | 3495 | 0.24% |
| NYM Henry Hub Natural Gas Future | &nbsp;&nbsp;December 2025 | (31) | (1299752) | (4272) | -0.30% |
| LIF 3 month Euro (EURIBOR) | &nbsp;&nbsp;December 2025 | (4) | (1268045) | 959 | 0.07% |
| MIL FTSE MIB Index Future | &nbsp;&nbsp;December 2025 | (5) | (1257919) | (17391) | -1.21% |
| CME Lean Hog Future | &nbsp;&nbsp;December 2025 | (34) | (1205864) | (18620) | -1.29% |
| EUX Euro-BUND | &nbsp;&nbsp;December 2025 | (8) | (1154740) | (372) | -0.03% |
| LIF 3 month Euro (EURIBOR) | &nbsp;&nbsp;September 2026 | (4) | (1061693) | 227 | 0.02% |
| EUX Euro-OAT Future | &nbsp;&nbsp;December 2025 | (6) | (891360) | (1085) | -0.08% |
| NYM NY Harbour ULSD Future | &nbsp;&nbsp;August 2026 | (9) | (862022) | 4406 | 0.31% |
| IFLL 3 Month SONIA Index | &nbsp;&nbsp;June 2026 | (2) | (793124) | 127 | 0.01% |
| IFLL 3 Month SONIA Index | &nbsp;&nbsp;March 2026 | (2) | (792006) | 305 | 0.02% |
| CMX Copper Future | &nbsp;&nbsp;December 2025 | (6) | (739782) | (36353) | -2.52% |
| CME NZD/USD | &nbsp;&nbsp;December 2025 | (13) | (739617) | 15022 | 1.04% |
| SGX Mini Japanese Goverment Bond Future | &nbsp;&nbsp;December 2025 | (8) | (717508) | 6660 | 0.46% |
| CBT Soybeans Future | &nbsp;&nbsp;January 2026 | (14) | (705733) | (2061) | -0.14% |
| CBT Corn Future | &nbsp;&nbsp;March 2026 | (32) | (691836) | (5853) | -0.41% |
|  |  |  | $(108872649) | $633146 |  |

---

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** MILWAUKEE

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 532123948

  - **Telephone number:** 4142992000

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

- **a. Name of Series:** Abraham Fortress Fund

- **b. EDGAR series identifier (if any):** S000073686

- **c. LEI of Series:** 549300F82XPXG18CT107

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $81888345.80

**Total Liabilities:** $143070.73

**Net Assets:** $81745275.07

**Amount of Assets Invested in Other Investment Companies:** $18685143.37

**Cash Not Reported:** $3407188.58

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 330.963124280000 | **1-Year:** 0.000000000000 | **5-Year:** 4405.051877759436 | **10-Year:** 6300.217671326563 | **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 C000230760 | 0.40%                | 2.50%                | 5.65%                |
| Class ID C000230762 | 0.40%                | 2.49%                | 5.74%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-760.87                 | $416887.43                                 |
| Month 2  | $-13007.61               | $712897.71                                 |
| Month 3  | $-13.65                  | $1167458.70                                |

**Designated Index Information**

- **Index Name:** MSCI ACWI (All Country World Index)

- **Index Identifier:** BBG000RS9JG0

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Synopsys Inc                        | Synopsys, Inc.                                 | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |        63 | NS      | $31083.57     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                     | Southern Co.                                   | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      2471 | NS      | $234176.67    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Solventum Corp                      | Solventum Corp.                                | CUSIP: 83444M101<br>LEI: 254900I70403OSGY4M28 | Long             | EC               | CORP              | US        |        58 | NS      | $4234.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc            | Simon Property Group, Inc. - REIT              | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             |  | CORP              | US        |       134 | NS      | $25147.78     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                     | United States Treasury Note                    | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3750000 | PA      | $3794531.25   | 4.64%             | 2032-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                     | United States Treasury Note                    | CUSIP: 91282CHC8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4375000 | PA      | $4203416.88   | 5.14%             | 2033-05-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                     | United States Treasury Note                    | CUSIP: 91282CJJ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3800000 | PA      | $3929287.40   | 4.81%             | 2033-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                     | United States Treasury Note                    | CUSIP: 91282CKQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3700000 | PA      | $3786139.70   | 4.63%             | 2034-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                     | United States Treasury Note                    | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    525000 | PA      | $530988.15    | 0.65%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CONTRA WALGREENS BOOSDAP RIGHTS   / | CONTRA WALGREENS BOOSDAP RIGHTS   /            | CUSIP: 931CVR013<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       352 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc            | Agilent Technologies, Inc.                     | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |       123 | NS      | $15787.05     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                           | Apple, Inc.                                    | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      6739 | NS      | $1715951.57   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                          | AbbVie, Inc.                                   | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |       721 | NS      | $166940.34    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                 | Abbott Laboratories                            | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |       721 | NS      | $96570.74     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                       | Accenture PLC - Class A                        | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |       269 | NS      | $66335.40     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                           | Adobe, Inc.                                    | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |       194 | NS      | $68433.50     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc                  | Analog Devices, Inc.                           | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |       214 | NS      | $52579.80     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing Inc       | Automatic Data Processing, Inc.                | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |       172 | NS      | $50482.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                        | Autodesk, Inc.                                 | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |        90 | NS      | $28590.30     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                         | Ameren Corp.                                   | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |      2099 | NS      | $219093.62    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc      | American Electric Power Co., Inc.              | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      1925 | NS      | $216562.50    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group I      | American International Group, Inc.             | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |       339 | NS      | $26625.06     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc                | Align Technology, Inc.                         | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |        32 | NS      | $4007.04      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc               | Applied Materials, Inc.                        | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |       362 | NS      | $74115.88     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc          | Advanced Micro Devices, Inc.                   | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |       666 | NS      | $107752.14    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                           | Amgen, Inc.                                    | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       230 | NS      | $64906.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                 | American Tower Corp. - REIT                    | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             |  | CORP              | US        |       186 | NS      | $35771.52     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                      | Amazon.com, Inc.                               | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      4140 | NS      | $909019.80    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                 | Arista Networks, Inc.                          | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |       500 | NS      | $72855.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                             | Aon PLC - Class A                              | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | GB        |        90 | NS      | $32092.20     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals Inc      | Air Products and Chemicals, Inc.               | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |        90 | NS      | $24544.80     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                       | Amphenol Corp. - Class A                       | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |       488 | NS      | $60390.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                           | Aptiv PLC                                      | CUSIP: G3265R107<br>LEI: 254900HTTDFIJZ32GX53 | Long             | EC               | CORP              | IE        |       110 | NS      | $9484.20      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmos Energy Corp                   | Atmos Energy Corp.                             | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |      1315 | NS      | $224536.25    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti Plc               | Anglogold Ashanti Plc                          | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |      3326 | NS      | $233917.58    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                        | Broadcom, Inc.                                 | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1680 | NS      | $554248.80    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Co Inc         | American Water Works Co., Inc.                 | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |      1427 | NS      | $198624.13    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                 | American Express Co.                           | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |       316 | NS      | $104962.56    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                        | AutoZone, Inc.                                 | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |         8 | NS      | $34321.92     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                       | Boeing Co.                                     | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |       240 | NS      | $51799.20     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                | Bank of America Corp.                          | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      3337 | NS      | $172155.83    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc            | Baxter International, Inc.                     | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |       204 | NS      | $4645.08      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co               | Becton Dickinson & Co.                         | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |       116 | NS      | $21711.72     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp/T      | Bank of New York Mellon Corp.                  | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |       337 | NS      | $36719.52     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                | Booking Holdings, Inc.                         | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |        17 | NS      | $91787.59     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc                       | Blackrock, Inc.                                | CUSIP: 09290D101<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | CORP              | US        |        62 | NS      | $72283.94     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co             | Bristol-Myers Squibb Co.                       | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |       905 | NS      | $40815.50     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc              | Berkshire Hathaway, Inc. - Class B             | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |       913 | NS      | $459001.62    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp              | Boston Scientific Corp.                        | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |       581 | NS      | $56723.03     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp                         | B2Gold Corp.                                   | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |     43352 | NS      | $214592.40    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                       | Citigroup, Inc.                                | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |       809 | NS      | $82113.50     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods Inc                 | Cal-Maine Foods, Inc.                          | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |      3655 | NS      | $343935.50    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp                 | Carrier Global Corp.                           | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |       353 | NS      | $21074.10     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                     | Caterpillar, Inc.                              | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |       221 | NS      | $105450.15    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                           | Chubb Ltd.                                     | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |       176 | NS      | $49676.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co                               | 3M Co.                                         | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |       235 | NS      | $36467.30     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp               | Monster Beverage Corp.                         | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |       432 | NS      | $29077.92     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc                    | Altria Group, Inc.                             | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |       749 | NS      | $49478.94     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                      | Merck & Co., Inc.                              | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      1030 | NS      | $86447.90     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Moderna Inc                         | Moderna, Inc.                                  | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |       165 | NS      | $4261.95      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                      | Morgan Stanley                                 | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |       732 | NS      | $116358.72    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                            | MSCI, Inc.                                     | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |        34 | NS      | $19291.94     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                      | Microsoft Corp.                                | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      3061 | NS      | $1585444.95   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc              | Motorola Solutions, Inc.                       | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |        69 | NS      | $31553.01     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc               | Micron Technology, Inc.                        | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |       457 | NS      | $76465.24     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                  | NextEra Energy, Inc.                           | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |       800 | NS      | $60392.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                        | Newmont Corp.                                  | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |       325 | NS      | $27400.75     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                         | Netflix, Inc.                                  | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       181 | NS      | $217004.52    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                            | NIKE, Inc. - Class B                           | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |       645 | NS      | $44975.85     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp               | Northrop Grumman Corp.                         | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |        65 | NS      | $39605.80     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                      | ServiceNow, Inc.                               | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |        81 | NS      | $74542.68     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp               | Norfolk Southern Corp.                         | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |        99 | NS      | $29740.59     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                         | NVIDIA Corp.                                   | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     10190 | NS      | $1901250.20   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV               | NXP Semiconductors N.V.                        | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |       108 | NS      | $24594.84     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc       | Old Dominion Freight Line, Inc.                | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |        94 | NS      | $13233.32     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                         | Oracle Corp.                                   | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      1089 | NS      | $306270.36    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc             | O'Reilly Automotive, Inc.                      | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |       405 | NS      | $43663.05     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                         | Paychex, Inc.                                  | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |       147 | NS      | $18633.72     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Grou      | Public Service Enterprise Group, Inc.          | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |      2455 | NS      | $204894.30    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                         | PepsiCo, Inc.                                  | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |       564 | NS      | $79208.16     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                          | Pfizer, Inc.                                   | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |      2288 | NS      | $58298.24     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The             | Procter & Gamble Co.                           | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |       987 | NS      | $151652.55    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The                | Progressive Corp.                              | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |       238 | NS      | $58774.10     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                        | Prologis, Inc. - REIT                          | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             |  | CORP              | US        |       302 | NS      | $34585.04     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International In      | Philip Morris International, Inc.              | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |       635 | NS      | $102997.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group I      | PNC Financial Services Group, Inc.             | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |       172 | NS      | $34559.96     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                            | PPL Corp.                                      | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |      5685 | NS      | $211254.60    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                      | Public Storage - REIT                          | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             |  | CORP              | US        |        71 | NS      | $20508.35     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc                 | PayPal Holdings, Inc.                          | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |       479 | NS      | $32121.74     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                        | QUALCOMM, Inc.                                 | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |       457 | NS      | $76026.52     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc       | Regeneron Pharmaceuticals, Inc.                | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |        44 | NS      | $24739.88     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG                      | Rheinmetall A.G. - ADR                         | CUSIP: 76206K107<br>LEI: 5299001OU9CSE29O6S05 | Long             |  | CORP              | DE        |       901 | NS      | $419631.74    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc              | Roper Technologies, Inc.                       | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |        43 | NS      | $21443.67     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services Inc               | Republic Services, Inc.                        | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |       129 | NS      | $29602.92     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                            | RTX Corp.                                      | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |       610 | NS      | $102071.30    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandstorm Gold Ltd                  | Sandstorm Gold Ltd.                            | CUSIP: 80013R206<br>LEI: 549300QWJPV45VQF1B33 | Long             | EC               | CORP              | CA        |     16270 | NS      | $203700.40    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp                      | Starbucks Corp.                                | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |       478 | NS      | $40438.80     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The             | Charles Schwab Corp.                           | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |       771 | NS      | $73607.37     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CHF CURRCY FUT Dec 2025   /         | CHF CURRCY FUT Dec 2025   /                    | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | US        |        12 | NC      | $31.56        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The             | Sherwin-Williams Co.                           | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       107 | NS      | $37049.82     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                     | Schlumberger N.V.                              | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |       572 | NS      | $19659.64     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                      | S&P Global, Inc.                               | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       144 | NS      | $70086.24     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc            | Constellation Brands, Inc. - Class A           | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |        77 | NS      | $10369.59     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                        | Stryker Corp.                                  | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |       154 | NS      | $56929.18     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill                    | CUSIP: 912797QE0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $499550.00    | 0.61%             | 2025-10-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill                    | CUSIP: 912797QG5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11000000 | PA      | $10972918.00  | 13.42%            | 2025-10-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill                    | CUSIP: 912797QZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14500000 | PA      | $14378359.50  | 17.59%            | 2025-12-18      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill                    | CUSIP: 912797RP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5968074.00   | 7.30%             | 2025-11-18      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Crown Castle Inc                    | Crown Castle, Inc. - REIT                      | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             |  | CORP              | US        |       176 | NS      | $16982.24     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc          | Cadence Design Systems, Inc.                   | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |       113 | NS      | $39692.38     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp           | Constellation Energy Corp.                     | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |       962 | NS      | $316565.34    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc          | Charter Communications, Inc. - Class A         | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |        83 | NS      | $22833.72     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                     | Cigna Group                                    | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |       135 | NS      | $38913.75     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co                | Colgate-Palmolive Co.                          | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |       344 | NS      | $27499.36     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Clorox Co/The                       | Clorox Co.                                     | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |      3914 | NS      | $482596.20    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                        | Comcast Corp. - Class A                        | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      1863 | NS      | $58535.46     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                       | CME Group, Inc.                                | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       147 | NS      | $39717.93     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc          | Chipotle Mexican Grill, Inc.                   | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       550 | NS      | $21554.50     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corp                     | CMS Energy Corp.                               | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |      2858 | NS      | $209377.08    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                        | Centene Corp.                                  | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |       238 | NS      | $8491.84      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp          | Capital One Financial Corp.                    | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |       174 | NS      | $36988.92     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                      | ConocoPhillips                                 | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |       538 | NS      | $50889.42     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp               | Costco Wholesale Corp.                         | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       181 | NS      | $167539.03    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Campbell's Company/The              | Campbell's Co.                                 | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               | CORP              | US        |     14897 | NS      | $470447.26    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                      | Salesforce, Inc.                               | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |       402 | NS      | $95274.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                   | Cisco Systems, Inc.                            | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      1720 | NS      | $117682.40    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                            | CSX Corp.                                      | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |       904 | NS      | $32101.04     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                         | Cintas Corp.                                   | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       168 | NS      | $34483.68     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions      | Cognizant Technology Solutions Corp. - Class A | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |       214 | NS      | $14352.98     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                     | CVS Health Corp.                               | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |       538 | NS      | $40559.82     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                        | Chevron Corp.                                  | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       786 | NS      | $122057.94    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                 | Dominion Energy, Inc.                          | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |       330 | NS      | $20186.10     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ABRAHAM FORTRESS FUND TRS   /       | ABRAHAM FORTRESS FUND TRS   /                  | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               |  | US        |    743932 | NC      | $-8637226.33  | -10.57%           |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours Inc               | DuPont de Nemours, Inc.                        | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |       211 | NS      | $16436.90     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                          | Deere & Co.                                    | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       125 | NS      | $57157.50     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp                 | Dollar General Corp.                           | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |        94 | NS      | $9714.90      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                        | Danaher Corp.                                  | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |       291 | NS      | $57693.66     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                  | Walt Disney Co.                                | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |       741 | NS      | $84844.50     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc            | Digital Realty Trust, Inc. - REIT              | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             |  | CORP              | US        |       119 | NS      | $20572.72     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co                       | DTE Energy Co.                                 | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |      1507 | NS      | $213135.01    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                    | Duke Energy Corp.                              | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |       314 | NS      | $38857.50     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                          | Dexcom, Inc.                                   | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |       160 | NS      | $10766.40     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                            | eBay, Inc.                                     | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |       255 | NS      | $23192.25     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc                          | Ecolab, Inc.                                   | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |       117 | NS      | $32041.62     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EUR/USD FUTURE Dec 2025   /         | EUR/USD FUTURE Dec 2025   /                    | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | US        |        13 | NC      | $1204.19      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Edison Inc             | Consolidated Edison, Inc.                      | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |      2011 | NS      | $202145.72    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Estee Lauder Cos Inc/The            | Estee Lauder Cos., Inc. - Class A              | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |       147 | NS      | $12953.64     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                 | Elevance Health, Inc.                          | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |        99 | NS      | $31988.88     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Embecta Corp                        | Embecta Corp.                                  | CUSIP: 29082K105<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | EC               | CORP              | US        |        23 | NS      | $324.53       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co                 | Emerson Electric Co.                           | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |       243 | NS      | $31876.74     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                   | EOG Resources, Inc.                            | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |       239 | NS      | $26796.68     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                         | Equinix, Inc. - REIT                           | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             |  | CORP              | US        |        37 | NS      | $28979.88     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                   | Eversource Energy                              | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |      3105 | NS      | $220889.70    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                      | Eaton Corp. PLC                                | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |       163 | NS      | $61002.75     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp                        | Entergy Corp.                                  | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      2472 | NS      | $230365.68    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                          | Evergy, Inc.                                   | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |      2967 | NS      | $225551.34    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp           | Edwards Lifesciences Corp.                     | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |       255 | NS      | $19831.35     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                         | Exelon Corp.                                   | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      4679 | NS      | $210601.79    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co                       | Ford Motor Co.                                 | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |      1629 | NS      | $19482.84     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc                | Freeport-McMoRan, Inc.                         | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |       599 | NS      | $23492.78     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp                          | FedEx Corp.                                    | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |       108 | NS      | $25467.48     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp                    | FirstEnergy Corp.                              | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |      4971 | NS      | $227771.22    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                          | Fiserv, Inc.                                   | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |       269 | NS      | $34682.17     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information       | Fidelity National Information Services, Inc.   | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |       248 | NS      | $16353.12     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco-Nevada Corp                  | Franco-Nevada Corp.                            | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |      1532 | NS      | $341498.12    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                        | Fortinet, Inc.                                 | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |       335 | NS      | $28166.80     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp               | General Dynamics Corp.                         | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |       114 | NS      | $38874.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                 | General Electric Co.                           | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |       448 | NS      | $134767.36    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc      | GE HealthCare Technologies, Inc.               | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |       149 | NS      | $11189.90     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                      | GE Vernova, Inc.                               | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |       112 | NS      | $68868.80     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                 | Gilead Sciences, Inc.                          | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |       511 | NS      | $56721.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co                   | General Motors Co.                             | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |       592 | NS      | $36094.24     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                        | Alphabet, Inc. - Class A                       | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      5440 | NS      | $1322464.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAIL Inc                           | GRAIL, Inc.                                    | CUSIP: 384747101<br>LEI: 2549009XSNESW3VE8024 | Long             | EC               | CORP              | US        |        10 | NS      | $591.30       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The         | Goldman Sachs Group, Inc.                      | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       142 | NS      | $113081.70    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                  | HCA Healthcare, Inc.                           | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       127 | NS      | $54127.40     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                  | Home Depot, Inc.                               | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       426 | NS      | $172610.94    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc         | Honeywell International, Inc.                  | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |       281 | NS      | $59150.50     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                          | Humana, Inc.                                   | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |        52 | NS      | $13528.84     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                                 | International Business Machines Corp.          | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |       366 | NS      | $103270.56    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc       | Intercontinental Exchange, Inc.                | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |       230 | NS      | $38750.40     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc              | IDEXX Laboratories, Inc.                       | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |        35 | NS      | $22361.15     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                        | Illumina, Inc.                                 | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |        64 | NS      | $6078.08      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                          | Intel Corp.                                    | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |      1658 | NS      | $55625.90     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                          | Intuit, Inc.                                   | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |       115 | NS      | $78534.65     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc                  | IQVIA Holdings, Inc.                           | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |        78 | NS      | $14815.32     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc              | Intuitive Surgical, Inc.                       | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       146 | NS      | $65295.58     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc             | Illinois Tool Works, Inc.                      | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |       128 | NS      | $33377.28     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International      | Johnson Controls International plc             | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | US        |       287 | NS      | $31555.65     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                   | Johnson & Johnson                              | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      1073 | NS      | $198955.66    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                 | JPMorgan Chase & Co.                           | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1205 | NS      | $380093.15    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp                   | Kinross Gold Corp.                             | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |      9659 | NS      | $240026.15    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The                  | Kraft Heinz Co.                                | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |       499 | NS      | $12993.96     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                            | KLA Corp.                                      | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |        62 | NS      | $66873.20     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp                 | Kimberly-Clark Corp.                           | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |       137 | NS      | $17034.58     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                    | Coca-Cola Co.                                  | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      1761 | NS      | $116789.52    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                       | Kroger Co.                                     | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |      5937 | NS      | $400213.17    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc           | L3Harris Technologies, Inc.                    | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |        80 | NS      | $24432.80     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                           | Linde PLC                                      | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |       208 | NS      | $98800.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                      | Eli Lilly & Co.                                | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       390 | NS      | $297570.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corp                | Lockheed Martin Corp.                          | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |       112 | NS      | $55911.52     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp                 | Alliant Energy Corp.                           | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |      3249 | NS      | $219015.09    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                      | Lowe's Cos., Inc.                              | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |       275 | NS      | $69110.25     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                   | Lam Research Corp.                             | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |       570 | NS      | $76323.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                      | Mastercard, Inc. - Class A                     | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       401 | NS      | $228092.81    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc/MD       | Marriott International, Inc. - Class A         | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |       133 | NS      | $34638.52     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                     | McDonald's Corp.                               | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |       305 | NS      | $92686.45     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc            | Microchip Technology, Inc.                     | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |       226 | NS      | $14513.72     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                        | Moody's Corp.                                  | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |        76 | NS      | $36212.48     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc          | Mondelez International, Inc. - Class A         | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |       569 | NS      | $35545.43     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                       | Medtronic PLC                                  | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |       548 | NS      | $52191.52     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                         | MetLife, Inc.                                  | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |       343 | NS      | $28252.91     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                  | Meta Platforms, Inc. - Class A                 | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      1134 | NS      | $832786.92    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI EAFE INDEX DEC 25   /          | MSCI EAFE INDEX DEC 25   /                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               |  | US        |       114 | NC      | $-56227.08    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc            | Marsh & McLennan Cos., Inc.                    | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |       206 | NS      | $41515.18     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                            | AT&T, Inc.                                     | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      2912 | NS      | $82234.88     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill                    | CUSIP: 912797QG5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4200000 | PA      | $4189659.60   | 5.13%             | 2025-10-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill                    | CUSIP: 912797QZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4700000 | PA      | $4660571.70   | 5.70%             | 2025-12-18      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GOLD 100 TROY FUTURE DEC 2025   /   | GOLD 100 TROY FUTURE DEC 2025   /              | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DCO              |  | US        |        31 | NC      | $1206407.78   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB MONEY MARKET FIDUCIARY   /      | UMB MONEY MARKET FIDUCIARY   /                 | CUSIP: SF8888528<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |        10 | PA      | $10.00        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity PLC                 | TE Connectivity PLC                            | CUSIP: G87052109<br>LEI: 894500ZRIX9K13RHXR17 | Long             | EC               | CORP              | IE        |       133 | NS      | $29197.49     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp               | Truist Financial Corp.                         | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |       544 | NS      | $24871.68     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp                         | Target Corp.                                   | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |       195 | NS      | $17491.50     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos Inc/The                     | TJX Cos., Inc.                                 | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |       486 | NS      | $70246.44     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc        | Thermo Fisher Scientific, Inc.                 | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       161 | NS      | $78088.22     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                     | T-Mobile US, Inc.                              | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       509 | NS      | $121844.42    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| T Rowe Price Group Inc              | T. Rowe Price Group, Inc.                      | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |        92 | NS      | $9442.88      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                           | Tesla, Inc.                                    | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      1169 | NS      | $519877.68    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC              | Trane Technologies PLC                         | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |        97 | NS      | $40930.12     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc               | Texas Instruments, Inc.                        | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |       377 | NS      | $69266.21     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc              | UnitedHealth Group, Inc.                       | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       384 | NS      | $132595.20    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                  | Union Pacific Corp.                            | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |       262 | NS      | $61928.94     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc           | United Parcel Service, Inc. - Class B          | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |       354 | NS      | $29569.62     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                          | U.S. Bancorp                                   | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |       605 | NS      | $29239.65     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                            | Visa, Inc. - Class A                           | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |       888 | NS      | $303145.44    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Veralto Corp                        | Veralto Corp.                                  | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               | CORP              | US        |        97 | NS      | $10341.17     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc          | Vertex Pharmaceuticals, Inc.                   | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |       104 | NS      | $40730.56     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc          | Verizon Communications, Inc.                   | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      1712 | NS      | $75242.40     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc           | Warner Bros Discovery, Inc.                    | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |       704 | NS      | $13749.12     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc                | WEC Energy Group, Inc.                         | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |      1918 | NS      | $219783.62    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                    | Wells Fargo & Co.                              | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      1626 | NS      | $136291.32    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management Inc                | Waste Management, Inc.                         | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |       171 | NS      | $37761.93     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                         | Walmart, Inc.                                  | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      3393 | NS      | $349682.58    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                    | Exxon Mobil Corp.                              | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      1978 | NS      | $223019.50    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                          | Zoetis, Inc.                                   | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |       193 | NS      | $28239.76     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

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

**Signature:** /s/ Maureen Quill

**Name of Signer:** Maureen Quill

**Title:** President