FORRX — Abraham Fortress Fund
Data updated: 2026-08-27
FORRX — Abraham Fortress Fund. Short Treasury / Sovereign Bond · $100.97M AUM · 1.74% expense ratio. Holdings, fees, performance and SEC filings.
FORRX Fund Overview
FORRX — Abraham Fortress Fund is a US mutual fund managed by Investment Managers Series Trust II, categorised as Short Treasury / Sovereign Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Investment Managers Series Trust II
- Category: Short Treasury / Sovereign Bond
- Assets under management: $100.97M
- Ticker: FORRX
- SEC CIK: 0001587982
- SEC series ID: S000073686
- Share class ID: C000230761
FORRX Investment Objective and Strategy
Abraham Fortress Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Investment Managers Series Trust II.
Investment objective
Abraham Fortress Fund (the Fund) seeks to protect capital and achieve long-term capital appreciation.
Principal investment strategy
In pursuing the Funds investment objectives, Abraham Trading Company (the Advisor) seeks to create a balanced portfolio by allocating investments among various asset classes in an attempt to protect and grow Fund capital. Generally, the Fund attempts to invest its net assets in a balanced portfolio consisting of a combination of: (i) Stocks: 40-60% exposure in equities comprised of stocks of issuers of any market capitalization in the United States, and/or outside of the United States, and derivative instruments such as futures, options or swaps on equity securities or equity indices; (ii) Bonds: 10-30% in fixed income securities (generally with greater than five years of remaining maturity at time of purchase) issued by the U.S. Government, other sovereign bonds, and any investment grade bonds; and (iii) Diversifying Strategies: 10-30% in a diversified portfolio of trading strategies/programs managed by one or more trading advisors, including the Advisor (the Diversifying Strategies) through investments in securities or derivatives (such as futures, swaps, or options) either directly or indirectly through Abraham Fortress Fund Ltd., a wholly owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary).
Also, as part of the Diversifying Strategies, the Fund through the Subsidiary will generally have a 0-15% long gold exposure through commodity linked derivatives and/or exchange-traded funds (ETFs). The Fund generally intends to invest in the list of investments shown above. However, the Fund has the flexibility to be invested in any combination of the asset classes described above or elsewhere in this prospectus of any percentage based on the Advisors assessment of current economic conditions and investment opportunities, subject to compliance with the Investment Company Act of 1940, as amended (the 1940 Act), and any other applicable regulations. The Fund may gain exposure to an asset class through investments in ETFs and other mutual funds. The Fund may also invest in equity securities of non-U.S.
issuers either directly or through the use of American and Global Depositary Receipts (ADRs or GDRs, respectively). ADRs are receipts that represent interests in foreign securities held on deposit by U.S. banks. GDRs have the same qualities as ADRs, except that they may be traded in several international trading markets. The Advisor expects to implement its Diversifying Strategies through accessing a broad variety of trading strategies/ programs that seek to generate positive returns over time and, in the Advisors view, usually (although not always) have low correlations to the returns of equities and fixed income markets. This generally involves investing directly, or indirectly through the Subsidiary, in derivative instruments such as one or more total return swaps and/or options, each based on a customized index (an Index) designed to replicate the aggregate returns of the trading strategies of one or more trading advisors.
A trading advisor may use various types of securities or derivatives investments in its trading programs, such as futures, options, forwards, and swaps. Each of these investments may be tied to a particular asset class: commodities, equities, fixed income, or foreign currencies. Also, the Fund or the Subsidiary may invest directly in securities, futures, options, forwards, and swaps. The Fund intends to obtain exposure to the commodities markets through investments in the Subsidiary. Generally, the Subsidiary will primarily invest directly or indirectly in commodity-linked derivatives (including commodity futures, options, and swaps). As part of the Diversifying Strategies, the Fund and the Subsidiary may also invest in U.S. government securities, money market funds, and/or other investments intended to serve as margin or collateral for its derivative positions.
Through investing in the Subsidiary, the Fund will, among other things, be able to gain exposure to the commodities markets within the limitations of the federal tax laws, rules and regulations that apply to regulated investment companies. Applicable federal tax requirements generally limit the degree to which the Fund may invest in the Subsidiary to an amount not exceeding 25% of its total assets. To the extent they are applicable to the investment activities of the Subsidiary, the Subsidiary will be subject to the same investment restrictions and limitations (on an aggregate basis with the Fund), and follow the same compliance policies and procedures, as the Fund. Unlike the Fund, the Subsidiary may invest without limitation in commodity-linked derivative instruments (including commodity futures), however, the Subsidiary will comply (on an aggregate basis with the Fund) with the same 1940 Act asset coverage requirements with respect to its investments in commodity-linked derivatives (including commodity futures) that are applicable to the Funds transactions in derivatives.
Investments in the Subsidiary are intended to provide the Fund with exposure to futures contracts and commodities in a manner consistent with the limitations of the federal tax requirements that apply to the Fund. Unlike the Fund, the Subsidiary will not seek to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the Code). The Fund is the sole shareholder of the Subsidiary and does not expect shares of the Subsidiary to be offered or sold to other investors. In addition, the Fund or the Subsidiary may invest directly in a variety of derivative instruments including, but not limited to, exchange-traded futures and option contracts, forward contracts, swaps and other OTC derivatives.
FORRX Holdings
Top 10 holdings of Abraham Fortress Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Treasury Bill | 19.09% |
| Treasury Bill | 14.85% |
| Treasury Bill | 7.41% |
| US Treasury N/b | 5.07% |
| US Treasury N/b | 5.06% |
| US Treasury N/b | 5.06% |
| US Treasury N/b | 5.03% |
| Treasury Bill | 4.34% |
| NVIDIA Corp | 2.02% |
| Apple Inc | 1.93% |
FORRX Portfolio Allocation
Asset-class allocation of Abraham Fortress Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 67.7% |
| Equity | 32.7% |
| Other | 0.7% |
FORRX Performance
Total returns for FORRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 13.0% |
| 1 year | 26.8% |
| 3 years (annualised) | 11.6% |
FORRX Risk Information
Risk metrics for FORRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 10.7%
FORRX Costs and Fees
FORRX costs about $174 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.74%
- Gross expense ratio: 2.13%
- Portfolio turnover: 68%
- Brokerage commissions: 1.40 bps of average net assets (SEC N-CEN)
FORRX Cashflows
Over the 12 months to 2026-06, Abraham Fortress Fund had net inflows of $6.77M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $683.35K |
| 2026-05 | $367.55K |
| 2026-04 | −$320.79K |
| 2026-03 | $199.60K |
| 2026-02 | $173.55K |
| 2026-01 | $2.86M |
FORRX Debt Constituents
Largest debt holdings of Abraham Fortress Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Treasury Bill | 19.09% |
| Treasury Bill | 14.85% |
| Treasury Bill | 7.41% |
| US Treasury N/b | 5.07% |
| US Treasury N/b | 5.06% |
| US Treasury N/b | 5.06% |
| US Treasury N/b | 5.03% |
| Treasury Bill | 4.34% |
| Treasury Bill | 1.73% |
FORRX Prospectus and SEC Filings
Official Abraham Fortress Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-10-27
- Prospectus (485BPOS) — filed 2024-10-25
- Prospectus (485BPOS) — filed 2023-10-26
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-06-01
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2025-09-11
- Annual census (N-CEN) — filed 2024-09-13
Related Funds
Other Short Treasury / Sovereign Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.