# First Trust Multi-Strategy Fund

First Trust Multi-Strategy Fund is a registered fund series of INVESTMENT MANAGERS SERIES TRUST II (series S000055376). Net assets $1.3B as of 2026-03-31.

## Profile

- Series ID: S000055376
- Registrant: INVESTMENT MANAGERS SERIES TRUST II
- LEI: 549300WVZTHJWP7HCR03
- Net assets: $1.3B
- Total assets: $1.8B
- As of: 2026-03-31

## Advisers

- [Palmer Square Capital Management, LLC (Subadvisor)](https://search.stillhousedata.com/firm/155697)
- [Vest Financial, LLC (Subadvisor)](https://search.stillhousedata.com/firm/165976)
- [FIRST TRUST CAPITAL MANAGEMENT L.P. (Advisor)](https://search.stillhousedata.com/firm/168884)

## Top holdings (200 reported)

_Showing 15 of 200 holdings by value._

| Holding | Ticker | Value | % of fund |
| --- | --- | --- | --- |
| SPX 06/30/26 C6000 06/26 6000.0 CAL   / | 5I3998UL | $213.2M | 1645.42% |
| SPX 03/31/26 C6000 03/26 6000.0 CAL   / | 54W99V9F | $170.5M | 1315.96% |
| SPX 03/31/26 P7000 03/26 7000.0 PUT   / | 544991Z3 | $152.1M | 1174.13% |
| SPX 06/30/26 P7000 06/26 7000.0 PUT   / | 5I6997PX | $150.7M | 1163.01% |
| [UMB MONEY MARKET II SPECIAL   /](https://search.stillhousedata.com/security/SF8888628) | SMMFIDU | $76.9M | 593.41% |
| [Chart Industries Inc](https://search.stillhousedata.com/security/16115Q308) | — | $18.3M | 141.38% |
| [Hologic Inc](https://search.stillhousedata.com/security/436440101) | — | $13.9M | 107.12% |
| [Sealed Air Corp](https://search.stillhousedata.com/security/81211K100) | — | $13.6M | 104.87% |
| [Masimo Corp](https://search.stillhousedata.com/security/574795100) | — | $11.6M | 89.82% |
| [Electronic Arts Inc](https://search.stillhousedata.com/security/285512109) | — | $11.2M | 86.09% |
| [Tri Pointe Homes Inc](https://search.stillhousedata.com/security/87265H109) | — | $10.2M | 78.94% |
| [National Storage Affiliates Tr](https://search.stillhousedata.com/security/637870106) | — | $9.6M | 74.07% |
| [Air Lease Corp](https://search.stillhousedata.com/security/00912X302) | — | $8.7M | 66.96% |
| [Clearwater Analytics Holdings](https://search.stillhousedata.com/security/185123106) | — | $6.8M | 52.39% |
| [Terns Pharmaceuticals Inc](https://search.stillhousedata.com/security/880881107) | — | $6.7M | 51.81% |

## Net asset history

| Report date | Net assets |
| --- | --- |
| 2026-03-31 | $1.3B |
| 2025-12-31 | $1.2B |
| 2025-09-30 | $1.1B |
| 2025-06-30 | $945.8M |
| 2025-03-31 | $830.2M |
| 2024-12-31 | $698.4M |
| 2024-09-30 | $530.9M |
| 2024-06-30 | $425.1M |

## More

- [Registrant: INVESTMENT MANAGERS SERIES TRUST II](https://search.stillhousedata.com/registrant/1587982)
- [This page as markdown (for LLM agents)](https://search.stillhousedata.com/fund/S000055376.md)
- [Search all SEC filings, advisers and people on Adviser Search](https://search.stillhousedata.com/)

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Source: public SEC filing data via Adviser Search (https://search.stillhousedata.com).
Agents: this data is also queryable via MCP tools and read-only SQL — see https://search.stillhousedata.com/llms.txt.