Investment Managers Series Trust II (TSLW) NPORT-P Abraham Fortress Fund (Sep 2024 report)

Abraham Fortress Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS

As of September 30, 2024 (Unaudited)

Number of Shares			Value
		COMMON STOCKS — 28.2%1
		COMMUNICATIONS — 2.9%
	5,440	Alphabet, Inc. - Class A	$	902,224
	2,912	AT&T, Inc.		64,064
	17	Booking Holdings, Inc.		71,606
	83	Charter Communications, Inc. - Class A*		26,899
	1,863	Comcast Corp. - Class A		77,817
	1,134	Meta Platforms, Inc. - Class A		649,147
	181	Netflix, Inc.*		128,378
	509	T-Mobile US, Inc.		105,037
	1,712	Verizon Communications, Inc.		76,886
	741	Walt Disney Co.		71,277
	704	Warner Bros Discovery, Inc.*		5,808
				2,179,143
		CONSUMER DISCRETIONARY — 2.4%
	4,140	Amazon.com, Inc.*		771,406
	110	Aptiv PLC*2		7,921
	8	AutoZone, Inc.*		25,200
	550	Chipotle Mexican Grill, Inc.*		31,691
	255	eBay, Inc.		16,603
	1,629	Ford Motor Co.		17,202
	592	General Motors Co.		26,545
	426	Home Depot, Inc.		172,615
	275	Lowe's Cos., Inc.		74,484
	133	Marriott International, Inc. - Class A		33,064
	305	McDonald's Corp.		92,876
	645	NIKE, Inc. - Class B		57,018
	27	O'Reilly Automotive, Inc.*		31,093
	478	Starbucks Corp.		46,600
	1,169	Tesla, Inc.*		305,846
	486	TJX Cos., Inc.		57,125
				1,767,289
		CONSUMER STAPLES — 1.5%
	749	Altria Group, Inc.		38,229
	1,761	Coca-Cola Co.		126,546
	344	Colgate-Palmolive Co.		35,711
	77	Constellation Brands, Inc. - Class A		19,842
	181	Costco Wholesale Corp.		160,460
	94	Dollar General Corp.		7,950
	147	Estee Lauder Cos., Inc. - Class A		14,654
	137	Kimberly-Clark Corp.		19,492
	499	Kraft Heinz Co.		17,520
	569	Mondelez International, Inc. - Class A		41,918

Abraham Fortress Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued

As of September 30, 2024 (Unaudited)

Number of Shares			Value
		COMMON STOCKS 1 (Continued)
		CONSUMER STAPLES (Continued)
	432	Monster Beverage Corp.*	$	22,537
	564	PepsiCo, Inc.		95,908
	635	Philip Morris International, Inc.		77,089
	987	Procter & Gamble Co.		170,948
	195	Target Corp.		30,393
	352	Walgreens Boots Alliance, Inc.		3,154
	3,393	Walmart, Inc.		273,985
				1,156,336
		ENERGY — 0.6%
	786	Chevron Corp.		115,754
	538	ConocoPhillips		56,641
	239	EOG Resources, Inc.		29,380
	1,978	Exxon Mobil Corp.		231,861
	572	Schlumberger N.V.2		23,996
				457,632
		FINANCIALS — 3.3%
	316	American Express Co.		85,699
	339	American International Group, Inc.		24,825
	90	Aon PLC - Class A2		31,139
	3,337	Bank of America Corp.		132,412
	337	Bank of New York Mellon Corp.		24,217
	913	Berkshire Hathaway, Inc. - Class B*		420,217
	62	BlackRock, Inc.		58,870
	174	Capital One Financial Corp.		26,053
	771	Charles Schwab Corp.		49,968
	176	Chubb Ltd.2		50,757
	809	Citigroup, Inc.		50,643
	147	CME Group, Inc.		32,435
	248	Fidelity National Information Services, Inc.		20,770
	269	Fiserv, Inc.*		48,326
	142	Goldman Sachs Group, Inc.		70,306
	230	Intercontinental Exchange, Inc.		36,947
	1,205	JPMorgan Chase & Co.		254,086
	206	Marsh & McLennan Cos., Inc.		45,956
	401	Mastercard, Inc. - Class A		198,014
	343	MetLife, Inc.		28,291
	76	Moody's Corp.		36,069
	732	Morgan Stanley		76,304
	34	MSCI, Inc.		19,820
	479	PayPal Holdings, Inc.*		37,376
	172	PNC Financial Services Group, Inc.		31,794

Abraham Fortress Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued

As of September 30, 2024 (Unaudited)

Number of Shares			Value
		COMMON STOCKS 1 (Continued)
		FINANCIALS (Continued)
	238	Progressive Corp.	$	60,395
	144	S&P Global, Inc.		74,393
	92	T. Rowe Price Group, Inc.		10,022
	544	Truist Financial Corp.		23,267
	605	U.S. Bancorp		27,667
	888	Visa, Inc. - Class A		244,156
	1,626	Wells Fargo & Co.		91,853
				2,423,047
		HEALTH CARE — 3.0%
	721	Abbott Laboratories		82,201
	721	AbbVie, Inc.		142,383
	123	Agilent Technologies, Inc.		18,263
	32	Align Technology, Inc.*		8,138
	230	Amgen, Inc.		74,108
	204	Baxter International, Inc.		7,746
	116	Becton Dickinson & Co.		27,968
	581	Boston Scientific Corp.*		48,688
	905	Bristol-Myers Squibb Co.		46,825
	238	Centene Corp.*		17,917
	135	Cigna Group		46,769
	538	CVS Health Corp.		33,829
	291	Danaher Corp.		80,904
	160	Dexcom, Inc.*		10,726
	255	Edwards Lifesciences Corp.*		16,827
	99	Elevance Health, Inc.		51,480
	390	Eli Lilly & Co.		345,517
	23	Embecta Corp.		324
	149	GE HealthCare Technologies, Inc.		13,984
	511	Gilead Sciences, Inc.		42,842
	10	GRAIL, Inc.*		138
	127	HCA Healthcare, Inc.		51,617
	52	Humana, Inc.		16,471
	35	IDEXX Laboratories, Inc.*		17,683
	64	Illumina, Inc.*		8,346
	146	Intuitive Surgical, Inc.*		71,725
	78	IQVIA Holdings, Inc.*		18,484
	1,073	Johnson & Johnson		173,890
	548	Medtronic PLC2		49,336
	1,030	Merck & Co., Inc.		116,967
	165	Moderna, Inc.*		11,027
	2,288	Pfizer, Inc.		66,215
	44	Regeneron Pharmaceuticals, Inc.*		46,255

Abraham Fortress Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued

As of September 30, 2024 (Unaudited)

Number of Shares			Value
		COMMON STOCKS 1 (Continued)
		HEALTH CARE (Continued)
	58	Solventum Corp.*	$	4,044
	154	Stryker Corp.		55,634
	161	Thermo Fisher Scientific, Inc.		99,590
	384	UnitedHealth Group, Inc.		224,517
	104	Vertex Pharmaceuticals, Inc.*		48,368
	193	Zoetis, Inc.		37,708
				2,235,454
		INDUSTRIALS — 1.7%
	235	3M Co.		32,124
	488	Amphenol Corp. - Class A		31,798
	172	Automatic Data Processing, Inc.		47,598
	240	Boeing Co.*		36,490
	353	Carrier Global Corp.		28,413
	221	Caterpillar, Inc.		86,437
	168	Cintas Corp.		34,588
	904	CSX Corp.		31,215
	125	Deere & Co.		52,166
	163	Eaton Corp. PLC2		54,025
	243	Emerson Electric Co.		26,577
	108	FedEx Corp.		29,557
	112	GE Vernova, Inc.*		28,558
	114	General Dynamics Corp.		34,451
	448	General Electric Co.		84,484
	281	Honeywell International, Inc.		58,085
	128	Illinois Tool Works, Inc.		33,545
	287	Johnson Controls International plc2		22,274
	80	L3Harris Technologies, Inc.		19,030
	112	Lockheed Martin Corp.		65,471
	99	Norfolk Southern Corp.		24,601
	65	Northrop Grumman Corp.		34,325
	94	Old Dominion Freight Line, Inc.		18,672
	147	Paychex, Inc.		19,726
	129	Republic Services, Inc.		25,908
	610	RTX Corp.		73,908
	97	Trane Technologies PLC2		37,707
	262	Union Pacific Corp.		64,578
	354	United Parcel Service, Inc. - Class B		48,264
	97	Veralto Corp.		10,850
	171	Waste Management, Inc.		35,500
				1,230,925

Abraham Fortress Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued

As of September 30, 2024 (Unaudited)

Number of Shares			Value
		COMMON STOCKS 1 (Continued)
		MATERIALS — 0.3%
	90	Air Products and Chemicals, Inc.	$	26,796
	211	DuPont de Nemours, Inc.		18,802
	117	Ecolab, Inc.		29,874
	599	Freeport-McMoRan, Inc.		29,902
	208	Linde PLC2		99,187
	325	Newmont Corp.		17,371
	107	Sherwin-Williams Co.		40,839
				262,771
		REAL ESTATE — 0.3%
	186	American Tower Corp. - REIT		43,256
	176	Crown Castle, Inc. - REIT		20,879
	119	Digital Realty Trust, Inc. - REIT		19,258
	37	Equinix, Inc. - REIT		32,842
	302	Prologis, Inc. - REIT		38,136
	71	Public Storage - REIT		25,835
	134	Simon Property Group, Inc. - REIT		22,649
				202,855
		TECHNOLOGY — 8.2%
	269	Accenture PLC - Class A2		95,086
	194	Adobe, Inc.*		100,449
	666	Advanced Micro Devices, Inc.*		109,277
	214	Analog Devices, Inc.		49,256
	6,739	Apple, Inc.		1,570,187
	362	Applied Materials, Inc.		73,142
	125	Arista Networks, Inc.*		47,978
	90	Autodesk, Inc.*		24,793
	1,680	Broadcom, Inc.		289,800
	113	Cadence Design Systems, Inc.*		30,626
	1,720	Cisco Systems, Inc.		91,538
	214	Cognizant Technology Solutions Corp. - Class A		16,517
	335	Fortinet, Inc.*		25,979
	1,658	Intel Corp.		38,897
	366	International Business Machines Corp.		80,915
	115	Intuit, Inc.		71,415
	62	KLA Corp.		48,013
	57	Lam Research Corp.		46,517
	226	Microchip Technology, Inc.		18,146
	457	Micron Technology, Inc.		47,395
	3,061	Microsoft Corp.		1,317,148
	69	Motorola Solutions, Inc.		31,024
	10,190	NVIDIA Corp.		1,237,474

Abraham Fortress Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued

As of September 30, 2024 (Unaudited)

Number of Shares			Value
		COMMON STOCKS 1 (Continued)
		TECHNOLOGY (Continued)
	108	NXP Semiconductors N.V.2	$	25,921
	1,089	Oracle Corp.		185,566
	457	QUALCOMM, Inc.		77,713
	43	Roper Technologies, Inc.		23,927
	402	Salesforce, Inc.		110,031
	81	ServiceNow, Inc.*		72,446
	63	Synopsys, Inc.*		31,903
	133	TE Connectivity PLC2		20,082
	377	Texas Instruments, Inc.		77,877
				6,087,038
		UTILITIES — 4.0%
	2,283	Alliant Energy Corp.		138,555
	1,565	Ameren Corp.		136,875
	1,775	American Electric Power Co., Inc.		182,115
	745	American Water Works Co., Inc.		108,949
	1,315	Atmos Energy Corp.		182,404
	2,144	CMS Energy Corp.		151,431
	1,628	Consolidated Edison, Inc.		169,523
	962	Constellation Energy Corp.		250,139
	330	Dominion Energy, Inc.		19,071
	1,158	DTE Energy Co.		148,699
	314	Duke Energy Corp.		36,204
	1,236	Entergy Corp.		162,670
	2,031	Evergy, Inc.		125,942
	1,522	Eversource Energy		103,572
	2,888	Exelon Corp.		117,108
	3,369	FirstEnergy Corp.		149,415
	800	NextEra Energy, Inc.		67,624
	4,624	PPL Corp.		152,962
	2,100	Public Service Enterprise Group, Inc.		187,341
	2,471	Southern Co.		222,835
	1,438	WEC Energy Group, Inc.		138,307
				2,951,741
		TOTAL COMMON STOCKS
		(Cost $16,694,390)		20,954,231

Principal Amount
		U.S. TREASURY BILLS — 55.3%
		United States Treasury Bill
$	2,850,000	5.001%, 10/10/20243,4	2,846,685
	1,050,000	4.542%, 10/17/20243,4	1,047,816
	15,750,000	5.037%, 10/24/20243,4	15,702,561

Abraham Fortress Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued

As of September 30, 2024 (Unaudited)

Principal Amount			Value
		U.S. TREASURY BILLS (Continued)
$	11,900,000	4.970%, 11/21/20243,5	$	11,821,936
	9,700,000	4.410%, 12/19/2024		9,604,038
		TOTAL U.S. TREASURY BILLS
		(Cost $41,016,034)		41,023,036
		U.S. TREASURY NOTES — 20.0%
		United States Treasury Note
	3,925,000	2.875%, 5/15/2032		3,706,978
	3,625,000	4.125%, 11/15/2032		3,725,394
	3,825,000	3.375%, 5/15/2033		3,715,479
	3,525,000	4.500%, 11/15/2033		3,718,463
		TOTAL U.S. TREASURY NOTES
		(Cost $14,399,494)		14,866,314
		SHORT-TERM INVESTMENTS — 0.0%
	10	UMB Bank, Money Market Fiduciary Deposit Investment, 0.01%3,4,6		10
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $10)		10
		TOTAL INVESTMENTS — 103.5%
		(Cost $72,109,928)		76,843,591
		Liabilities in Excess of Other Assets — (3.5)%		(2,626,038	)
		TOTAL NET ASSETS — 100.0%	$	74,217,553

PLC – Public Limited Company

REIT – Real Estate Investment Trusts

^* Non-income producing security.

¹ See additional notional stock exposure value via stock index futures on page 8.

² Foreign security denominated in U.S. dollars.

³ All or a portion of this security is segregated as collateral for derivatives. The market value of the securities pledged as collateral was $17,348,560, which represents 23.38% of total net assets of the Fund.

⁴ All or a portion of this security is a holding of Abraham Fortress Fund, Ltd.

⁵ Callable.

⁶ The rate is the annualized seven-day yield at period end.

Abraham Fortress Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued

As of September 30, 2024 (Unaudited)

Long Contracts	Expiration Date	Number of Contracts		Notional Value		Value at September 30, 2024		Unrealized Appreciation (Depreciation)
Commodity Futures
CMX Gold 1	December 2024		41	$	10,099,318	$	10,903,539	$	804,221
NYMEX WTI Crude Oil 1	December 2024		42		2,880,048		2,846,340		(33,708	)
Index Futures
CME E-mini Russell 2000 Index	December 2024		66		7,139,471		7,422,360		282,889
CME E-mini S&P 500	December 2024		5		1,415,716		1,453,563		37,847
NYF MSCI EAFE Index	December 2024		64		7,795,991		7,960,960		164,969
Total Long Contracts				$	29,330,544	$	30,586,762	$	1,256,218
TOTAL FUTURES CONTRACTS				$	29,330,544	$	30,586,762	$	1,256,218

¹ 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, 2024 (Unaudited)

SWAP CONTRACTS

(OTC) TOTAL RETURN SWAP

Counterparty	Reference Entity	Pay/Receive Total Return on Reference Entity	Financing Rate1		Pay/Receive Frequency	Termination Date	Notional Value		Unrealized Appreciation (Depreciation)
Deutsche Bank	Abraham Fortress dbSelect Index 2	Receive		0.45% of Notional Value	Quarterly	June 13, 2029	$	39,362,551	$	(4,658,329	)
TOTAL SWAP CONTRACTS									$	(4,658,329	)

¹ Financing rate is based upon notional trading amounts at period end.

² 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 Date	Number of Long Contracts		Notional Value		Unrealized Appreciation (Depreciation)			Percentage of Custom Swap's Unrealized Appreciation (Depreciation)
LIF 3 month Euro (EURIBOR)	June 2025		21	$	5,749,992	$	11,583			6.27	%
CME Live Cattle Future	October 2024		63		4,660,667		10,129			5.48	%
ICE Brent Crude Monthly Future	January 2025		47		3,377,126		67,936			36.75	%
CMX Gold	December 2024		12		3,214,609		140,793			76.16	%
CME SOFR 3month	September 2025		12		3,011,903		(600	)		-0.32	%
OSE 10 year Japanese Government Bond	December 2024		3		2,974,615		(339	)		-0.18	%
IFLL 3 Month SONIA Index	December 2025		9		2,860,690		(827	)		-0.45	%
EUX Euro-BUND	December 2024		17		2,628,302		28,603			15.47	%
CBT 5 year US Treasury Notes	December 2024		22		2,410,825		746			0.40	%
CME E-Mini Nasdaq-100	December 2024		5		1,944,187		21,140			11.44	%
CBT 2 year US Treasury Notes	December 2024		9		1,896,249		2,751			1.49	%
CME SOFR 3month	September 2026		7		1,774,915		453			0.25	%
NYM Light Sweet Crude Oil (WTI) Future	February 2025		25		1,666,213		(35,242	)		-19.06	%
KCB Hard Red Winter Wheat Future	March 2025		56		1,661,364		38,118			20.62	%
CME E-Mini S&P 500	December 2024		6		1,594,755		16,980			9.19	%
LIF Long Gilt Future	December 2024		12		1,559,664		(19,336	)		-10.46	%
LIF 3 month Euro (EURIBOR)	September 2026		6		1,544,771		1,811			0.98	%
LIF 3 month Euro (EURIBOR)	September 2025		6		1,511,055		4,517			2.44	%
EUX 2 year Euro-Schatz	December 2024		12		1,464,339		4,006			2.17	%
LIF 3 month Euro (EURIBOR)	March 2025		5		1,441,655		3,299			1.78	%
IFLL 3 Month SONIA Index	September 2025		4		1,405,120		(208	)		-0.11	%
CME Live Cattle Future	February 2025		19		1,397,163		51,601			27.91	%
EUX DAX Index Future	December 2024		2		1,353,092		25,324			13.70	%
IFLL 3 Month SONIA Index	September 2026		4		1,297,590		(957	)		-0.52	%
CME Lean Hog Future	October 2024		39		1,271,135		4,652			2.52	%
CME SOFR 3month	September 2027		5		1,264,678		(83	)		-0.05	%
MSE Three-Month CORRA Futures	March 2025		7		1,216,554		2,795			1.51	%
EUX 10 year Italian Bond	December 2024		9		1,211,758		12,566			6.80	%
CME SOFR 3month	March 2026		5		1,154,127		1,247			0.67	%
CME SOFR 3month	June 2026		5		1,146,807		797			0.43	%
LIF 3 month Euro (EURIBOR)	December 2025		4		1,130,202		3,472			1.88	%
LIF 3 month Euro (EURIBOR)	December 2026		4		1,119,882		1,359			0.73	%
CME SOFR 3month	December 2025		5		1,115,025		1,204			0.65	%
CME CME E-Mini Russell 2000 Index	December 2024		10		1,085,709		6,801			3.68	%
CBT 10 year US Treasury Notes	December 2024		9		1,076,367		(537	)		-0.29	%
SFE 3 year Australian Treasury Bond	December 2024		14		1,039,277		(527	)		-0.29	%
CME SOFR 3month	December 2026		4		1,024,204		435			0.24	%
CME Lean Hog Future	February 2025		32		993,723		28,180			15.24	%
LIF 3 month Euro (EURIBOR)	March 2026		4		983,506		2,590			1.40	%
IFLL 3 Month SONIA Index	September 2027		3		981,371		(2,195	)		-1.19	%
CME Feeder Cattle Future	November 2024		8		976,242		13,103			7.09	%
LIF 3 month Euro (EURIBOR)	September 2027		3		948,451		502			0.27	%
CMX Silver	December 2024		6		933,531		29,571			16.00	%
CME SOFR 3month	March 2027		4		909,263		138			0.07	%
ICE Brent Crude Monthly Future	November 2024		13		907,920		(80,956	)		-43.79	%
LIF 3 month Euro (EURIBOR)	March 2027		3		844,003		981			0.53	%
SFE 90 Day Bank Accepted Bill Future	June 2025		5		839,269		(527	)		-0.29	%
LIF 3 month Euro (EURIBOR)	June 2026		3		836,719		1,824			0.99	%
EUX 3 year Italian Bond Future	December 2024		7		816,869		5,499			2.97	%
CBT E-mini Dow	December 2024		4		795,291		1,708			0.92	%
CME SOFR 3month	June 2027		3		786,897		(35	)		-0.02	%
CBT Soybean Oil Future	March 2025		30		765,815		50,018			27.06	%
EUX Euro-BOBL	December 2024		6		748,352		3,799			2.05	%

Abraham Fortress Fund

CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued

As of September 30, 2024 (Unaudited)

FUTURES CONTRACTS - Continued

Description	Expiration Date	Number of Long Contracts		Notional Value		Unrealized Appreciation (Depreciation)			Percentage of Custom Swap's Unrealized Appreciation (Depreciation)
CME SOFR 3month	June 2025		3		729,427		1,785			0.97	%
IFLL 3 Month SONIA Index	June 2025		2		729,300		(61	)		-0.03	%
CME JPY/USD	December 2024		8		689,599		3,658			1.98	%
CBT 30 year US Treasury Bonds	December 2024		6		688,452		(1,297	)		-0.70	%
CME SOFR 3month	March 2025		3		664,864		1,482			0.80	%
KOFEX 3 Year Korean Treasury Bond Future	December 2024		8		634,821		851			0.46	%
IFLL 3 Month SONIA Index	March 2026		2		632,125		491			0.27	%
IFLL 3 Month SONIA Index	June 2026		2		622,197		(45	)		-0.02	%
SGX Mini Japanese Goverment Bond Future	December 2024		6		569,130		(289	)		-0.16	%
IFLL 3 Month SONIA Index	March 2025		2		564,544		(443	)		-0.24	%
IFLL 3 Month SONIA Index	March 2027		2		550,707		(470	)		-0.25	%
MSE Three-Month CORRA Futures	June 2025		3		543,737		2,730			1.48	%
IFLL 3 Month SONIA Index	December 2026		2		540,668		(415	)		-0.22	%
LIF White Sugar Future	November 2024		18		525,039		51,037			27.61	%
LIF White Sugar Future	February 2025		18		523,179		43,944			23.77	%
SFE 10 year Australian Treasury Bond Future	December 2024		6		522,262		(497	)		-0.27	%
CME GBP/USD	December 2024		5		456,646		9,501			5.14	%
MSE Three-Month CORRA Futures	December 2025		3		454,559		1,697			0.92	%
MSE Three-Month CORRA Futures	September 2025		3		454,160		1,377			0.74	%
MSE 10 year Canadian Govt Bond	December 2024		5		422,838		1,894			1.02	%
CMX Gold	February 2025		2		420,322		15,110			8.17	%
NYB Coffee C Future	March 2025		4		405,328		28,130			15.22	%
MSE Three-Month CORRA Futures	December 2024		2		402,645		379			0.21	%
				$	96,070,357	$	621,211

Description	Expiration Date	Number of Short Contracts			Notional Value			Unrealized Appreciation (Depreciation)			Percentage of Custom Swap's Unrealized Appreciation (Depreciation)
CME Live Cattle Future	December 2024		(83	)	$	(6,115,862	)	$	(28,192	)		-15.25	%
CME AUD/USD	December 2024		(80	)		(5,544,060	)		(207,119	)		-112.04	%
CME EUR/USD	December 2024		(27	)		(3,713,947	)		(25,998	)		-14.06	%
ICE Brent Crude Monthly Future	October 2024		(37	)		(2,696,543	)		3,036			1.64	%
CME Lean Hog Future	December 2024		(66	)		(1,946,063	)		(906	)		-0.49	%
NYM Light Sweet Crude Oil (WTI) Future	October 2024		(24	)		(1,641,162	)		(20,511	)		-11.10	%
NYM NY Harbour ULSD Future	November 2024		(16	)		(1,419,581	)		130			0.07	%
NYM Henry Hub Natural Gas Future	November 2024		(36	)		(1,206,914	)		(42,580	)		-23.03	%
CMX Copper Future	December 2024		(10	)		(1,114,807	)		(54,449	)		-29.45	%
MGE Hard Red Spring Wheat Future	December 2024		(36	)		(1,108,909	)		(20,349	)		-11.01	%
CME Feeder Cattle Future	January 2025		(9	)		(1,083,332	)		(9,487	)		-5.13	%
CBT Soybean Oil Future	December 2024		(35	)		(894,040	)		(36,095	)		-19.53	%
MGE Hard Red Spring Wheat Future	March 2025		(25	)		(808,487	)		(19,855	)		-10.74	%
NYM Gasoline RBOB Future	November 2024		(9	)		(744,903	)		4,755			2.57	%
LIF FTSE 100 Index Future	December 2024		(7	)		(733,286	)		2,725			1.47	%
HKG Hang Seng Index	October 2024		(5	)		(617,451	)		(28,605	)		-15.47	%
EOP CAC 40	October 2024		(6	)		(539,057	)		(9,301	)		-5.03	%
NYM Gasoline RBOB Future	October 2024		(6	)		(492,337	)		78			0.04	%
CBT Corn Future	December 2024		(22	)		(453,970	)		11,096			6.00	%
NYB Sugar No.11 Future	April 2025		(19	)		(436,430	)		(37,553	)		-20.31	%
CME CAD/USD	December 2024		(5	)		(407,975	)		(2,266	)		-1.23	%
					$	(33,719,116	)	$	(521,446	)

FORWARD FOREIGN CURRENCY CONTRACTS

Settlement Date	Counterparty	Currency Units to Receive/(Deliver)			In Exchange For			Unrealized Appreciation (Depreciation)		Percentage of Custom Swap's Unrealized Appreciation (Depreciation)
9/30/2024	Deutsche Bank	1,533,219		USD	(1,373,052	)	EUR	1,352		0.73	%
12/18/2024	Deutsche Bank	(513,491	)	USD	392,922		GBP	13,265		7.18	%
12/18/2024	Deutsche Bank	1,929,357		PLN	(447,597	)	EUR	607		0.33	%
12/18/2024	Deutsche Bank	(446,150	)	USD	400,479		EUR	2,070		1.12	%
12/18/2024	Deutsche Bank	33,952,522		INO	(405,194	)	USD	(1,457	)	-0.79	%
12/18/2024	Deutsche Bank	511,303		SGO	(393,872	)	USD	6,855		3.71	%

^ 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.