Investment Managers Series Trust II (TSLW) NPORT-P AXS Dynamic Opportunity Fund (Jun 2024 report)

AXS Dynamic Opportunity Fund

SCHEDULE OF INVESTMENTS

As of June 30, 2024 (Unaudited)

Number of Shares			Value
		COMMON STOCKS — 79.1%
		ADVERTISING — 0.9%
	5,000	Trade Desk, Inc. - Class A*	$	488,350
		AGRICULTURE — 1.3%
	14,827	Andersons, Inc.		735,419
		AIRLINES — 3.7%
	24,981	SkyWest, Inc.*		2,050,191
		AUTO MANUFACTURERS — 3.6%
	10,263	Tesla, Inc.*		2,030,842
		AUTO PARTS & EQUIPMENT — 1.9%
	26,699	Phinia, Inc.		1,050,873
		CHEMICALS — 1.7%
	11,197	Minerals Technologies, Inc.		931,143
		COMMERCIAL SERVICES — 5.7%
	15,090	Adtalem Global Education, Inc.*		1,029,289
	9,417	Brink's Co.		964,301
	6,821	Grand Canyon Education, Inc.*		954,326
	350	United Rentals, Inc.		226,355
				3,174,271
		COMPUTERS — 5.4%
	9,052	Apple, Inc.		1,906,532
	600	Leidos Holdings, Inc.		87,528
	11,277	Maximus, Inc.		966,439
	1,000	Parsons Corp.*		81,810
				3,042,309
		COSMETICS/PERSONAL CARE — 1.8%
	24,455	Edgewell Personal Care Co.		982,846
		DIVERSIFIED FINANCIAL SERVICES — 7.5%
	2,300	Apollo Global Management, Inc.		271,561
	15,778	Enova International, Inc.*		982,180
	5,500	FTAI Aviation Ltd.		567,765
	4,592	Piper Sandler Cos.		1,056,941
	15,444	StoneX Group, Inc.*		1,163,088
	700	Visa, Inc. - Class A		183,729
				4,225,264
		ENGINEERING & CONSTRUCTION — 2.6%
	600	Comfort Systems USA, Inc.		182,472

AXS Dynamic Opportunity Fund

SCHEDULE OF INVESTMENTS - Continued

As of June 30, 2024 (Unaudited)

Number of Shares			Value
		COMMON STOCKS (Continued)
		ENGINEERING & CONSTRUCTION (Continued)
	2,501	EMCOR Group, Inc.	$	913,065
	6,000	Granite Construction, Inc.		371,820
				1,467,357
		HOME BUILDERS — 5.2%
	9,346	M/I Homes, Inc.*		1,141,520
	5,413	Meritage Homes Corp.		876,094
	24,203	Tri Pointe Homes, Inc.*		901,562
				2,919,176
		INSURANCE — 0.9%
	12,000	Equitable Holdings, Inc.		490,320
		INTERNET — 8.2%
	5,000	Alphabet, Inc. - Class A		910,750
	8,500	Amazon.com, Inc.*		1,642,625
	2,800	Meta Platforms, Inc. - Class A		1,411,816
	200	Netflix, Inc.*		134,976
	1,500	Spotify Technology S.A.*		470,685
				4,570,852
		MACHINERY-CONSTRUCTION & MINING — 1.9%
	12,500	Vertiv Holdings Co. - Class A		1,082,125
		METAL FABRICATE/HARDWARE — 0.9%
	3,300	Advanced Drainage Systems, Inc.		529,287
		OIL & GAS SERVICES — 0.3%
	1,500	Tidewater, Inc.*		142,815
		PHARMACEUTICALS — 1.5%
	6,000	Novo Nordisk A/S - ADR		856,440
		SAVINGS & LOANS — 3.5%
	19,053	Axos Financial, Inc.*		1,088,879
	18,294	WSFS Financial Corp.		859,818
				1,948,697
		SEMICONDUCTORS — 14.3%
	6,000	Advanced Micro Devices, Inc.*		973,260
	1,812	ASML Holding N.V.		1,853,187
	1,236	Broadcom, Inc.		1,984,435
	20,000	NVIDIA Corp.		2,470,800
	4,300	Taiwan Semiconductor Manufacturing Co., Ltd. - ADR		747,383
				8,029,065

AXS Dynamic Opportunity Fund

SCHEDULE OF INVESTMENTS - Continued

As of June 30, 2024 (Unaudited)

Number of Shares			Value
		COMMON STOCKS (Continued)
		SOFTWARE — 5.7%
	26,987	ACI Worldwide, Inc.*	$	1,068,416
	4,176	Microsoft Corp.		1,866,463
	300	ServiceNow, Inc.*		236,001
				3,170,880
		TELECOMMUNICATIONS — 0.6%
	1,000	Arista Networks, Inc.*		350,480
		TOTAL COMMON STOCKS
		(Cost $36,265,215)		44,269,002
		MUTUAL FUNDS — 18.4%
		EQUITY FUND — 18.4%
	854,936	AXS Adaptive Plus Fund - Class I1		10,276,332
		TOTAL MUTUAL FUNDS
		(Cost $10,000,000)		10,276,332
		SHORT-TERM INVESTMENTS — 1.5%
	541,975	Fidelity Investments Money Market Government Portfolio - Class I, 5.13%2		541,975
	266,899	Goldman Sachs Financial Square Government Fund, 4.89%2		266,899
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $808,874)		808,874
		TOTAL INVESTMENTS — 99.0%
		(Cost $47,074,089)		55,354,208
		Other Assets in Excess of Liabilities — 1.0%		580,225
		TOTAL NET ASSETS — 100.0%	$	55,934,433

ADR – American Depository Receipt

* Non-income producing security.

¹ Affiliated company.

² The rate is the annualized seven-day yield at period end.

AXS Dynamic Opportunity Fund

	Value Beginning of Period		Additions		Reductions		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value End of Period		Dividend Income
Mutual Funds - 18.4%
AXS Adaptive Plus Fund - Class I	$	-	$	10,000,000	$	-	$	-	$	276,332	$	10,276,332	$	-
Total	$	-	$	10,000,000	$	-	$	-	$	276,332	$	10,276,332	$	-

	Shares Beginning of Period		Purchases		Sales		Stock Split		Shares End of Period
AXS Adaptive Plus Fund - Class I		-		854,936		-		-		854,936