# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001145549-23-018507
**Filing Date:** 2023-3
**Character Count:** 47890
**Document Hash:** 893ae1f333555dd7b6706af51f213466
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-018507.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001145549-23-018507

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investment Managers Series Trust
- **CENTRAL INDEX KEY:** 0001318342
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21719
- **FILM NUMBER:** 23767208

**BUSINESS ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 626-914-4141

**MAIL ADDRESS:**
- **STREET 1:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Claymore Trust
- **DATE OF NAME CHANGE:** 20050603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Claymore Equity Trust
- **DATE OF NAME CHANGE:** 20050218

## Series and Classes Contracts Data

### EP Emerging Markets Fund (Series ID: S000030491)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000093793 | Class A      | EPASX           |
| C000129565 | Class I      | EPEIX           |

## Nport-Ex

#### EP Emerging Markets Fund

#### SCHEDULE OF INVESTMENTS

#### As of January 31, 2023 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS — 94.2%** |  |
|  | **BRAZIL — 5.8%** |  |
| 65230 | Arco Platform Ltd. - Class A <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$863645 |
| 300000 | B3 S.A. - Brasil Bolsa Balcao | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765912 |
| 250000 | Banco Bradesco S.A. - ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697500 |
| 93480 | CI&T, Inc. - Class A <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695491 |
| 754890 | Locaweb Servicos de Internet S.A. <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953223 |
| 568975 | Lojas Quero Quero S.A. <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414713 |
| 1397810 | Meliuz S.A. <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305650 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4696134** |
|  | **CHILE — 1.5%** |  |
| 80000 | Cia Cervecerias Unidas S.A. - ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1248800** |
|  | **CHINA — 19.1%** |  |
| 259965 | Amoy Diagnostics Co., Ltd. - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1109820 |
| 300000 | Anhui Conch Cement Co., Ltd. - Class H | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138919 |
| 2700000 | China Forestry Holdings Co., Ltd. <sup>\*,2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| 337385 | Chongqing Fuling Zhacai Group Co., Ltd. - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334795 |
| 700000 | CSPC Pharmaceutical Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798137 |
| 25000 | ENN Energy Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376666 |
| 652995 | Haitian International Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003997 |
| 290764 | Hefei Meyer Optoelectronic Technology, Inc. - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1182407 |
| 1500000 | Industrial & Commercial Bank of China Ltd. - Class H | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802377 |
| 120000 | Lepu Medical Technology Beijing Co., Ltd. - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397103 |
| 9200 | Meituan - Class B <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205673 |
| 92000 | Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4483032 |
| 209733 | Yifeng Pharmacy Chain Co., Ltd. - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765314 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15598240** |
|  | **HONG KONG — 1.3%** |  |
| 250000 | China Resources Gas Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1051303** |
|  | **HUNGARY — 0.4%** |  |
| 15000 | Richter Gedeon Nyrt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**338721** |
|  | **INDIA — 9.9%** |  |
| 40000 | AIA Engineering Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344872 |
| 500000 | Castrol India Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721273 |
| 400000 | City Union Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777554 |
| 639575 | EPL Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1221865 |
| 50000 | GMM Pfaudler Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006186 |
| 15200 | L&T Technology Services Ltd. <sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624095 |
| 60390 | Medplus Health Services Ltd. <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470076 |

---

------

#### EP Emerging Markets Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of January 31, 2023 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **INDIA (Continued)** |  |
| 12550 | Metropolis Healthcare Ltd. <sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$206895 |
| 32060 | Mphasis Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818071 |
| 300000 | Oil India Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859149 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8050036** |
|  | **INDONESIA — 4.9%** |  |
| 55000000 | Ace Hardware Indonesia Tbk P.T. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800795 |
| 3677180 | Bank BTPN Syariah Tbk P.T. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628837 |
| 3500000 | Indofood Sukses Makmur Tbk P.T. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1572899 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4002531** |
|  | **MALAYSIA — 3.9%** |  |
| 3297550 | Frontken Corp. Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570988 |
| 1395750 | MR DIY Group M Bhd <sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623438 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3194426** |
|  | **MEXICO — 3.8%** |  |
| 400000 | Bolsa Mexicana de Valores S.A.B. de C.V. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867529 |
| 400000 | Kimberly-Clark de Mexico S.A.B. de C.V. - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763442 |
| 170000 | Regional S.A.B. de C.V. - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466764 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3097735** |
|  | **PHILIPPINES — 2.2%** |  |
| 3200000 | DMCI Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646063 |
| 1987895 | Wilcon Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1164451 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1810514** |
|  | **POLAND — 1.7%** |  |
| 15000 | Dino Polska S.A. <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1358921** |
|  | **SINGAPORE — 0.9%** |  |
| 697960 | Nanofilm Technologies International Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**771326** |
|  | **SOUTH AFRICA — 1.0%** |  |
| 4834 | Clicks Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73727 |
| 12392 | JSE Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82435 |
| 90000 | Vodacom Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632507 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**788669** |
|  | **SOUTH KOREA — 11.6%** |  |
| 5940 | Chunbo Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157271 |
| 9050 | Hansol Chemical Co., Ltd. <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560451 |
| 31000 | Kakao Games Corp. <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178551 |
| 113345 | Koh Young Technology, Inc. <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590594 |

---

------

#### EP Emerging Markets Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of January 31, 2023 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **SOUTH KOREA (Continued)** |  |
| 10000 | KT&G Corp. <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$750115 |
| 13920 | LEENO Industrial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1943249 |
| 1100 | NCSoft Corp. <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407144 |
| 9775 | Tokai Carbon Korea Co., Ltd. <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832530 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9419905** |
|  | **TAIWAN — 19.7%** |  |
| 40335 | Airtac International Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1379424 |
| 550000 | Asia Cement Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774838 |
| 28264 | ASPEED Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001612 |
| 230915 | Chroma ATE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1432991 |
| 400000 | Formosa Plastics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1192348 |
| 5000 | Largan Precision Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356807 |
| 35000 | MediaTek, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845634 |
| 33600 | momo.com, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894149 |
| 450000 | Nan Ya Plastics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132483 |
| 40000 | Nien Made Enterprise Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416913 |
| 50000 | Novatek Microelectronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595393 |
| 50000 | Parade Technologies Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1546184 |
| 150000 | Realtek Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610833 |
| 33580 | Silergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683335 |
| 40000 | Taiwan Semiconductor Manufacturing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705872 |
| 10000 | Voltronic Power Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506043 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16074859** |
|  | **THAILAND — 3.4%** |  |
| 1500000 | Thai Beverage PCL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801263 |
| 1912380 | TOA Paint Thailand PCL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974253 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2775516** |
|  | **UNITED KINGDOM — 1.4%** |  |
| 243230 | VTEX - Class A <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1101832** |
|  | **UNITED STATES — 1.0%** |  |
| 50000 | Freshworks, Inc. - Class A <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**809000** |
|  | **URUGUAY — 0.7%** |  |
| 500 | MercadoLibre, Inc. <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590845 |
|  | **TOTAL COMMON STOCKS** |  |
|  | (Cost $82,977,948) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**76779313** |

---

------

#### EP Emerging Markets Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of January 31, 2023 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **SHORT-TERM INVESTMENTS — 6.0%** |  |
| 4877726 | Federated Hermes Treasury Obligations Fund - Institutional Class, 4.119% <sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4877726 |
|  | **Total Short-Term Investments** |  |
|  | (Cost $4,877,726) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4877726** |
|  | **TOTAL INVESTMENTS — 100.2%** |  |
|  | (Cost $87,855,674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**81657039** |
|  | Liabilities in Excess of Other Assets — (0.2)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(173037) |
|  | **TOTAL NET ASSETS — 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$81484002** |

---

ADR – American Depository Receipt <br> PCL – Public Company Limited

---

| |
|:---|
| <sup>\*</sup>Non-income producing security. |
| <sup>1</sup>Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional buyers. The total value of these securities is $4,277,895, which represents 5.25% of Net Assets. |
| <sup>2</sup>Level 3 securities fair valued under procedures established by the Board of Trustees, represents 0.00% of Net Assets. The total value of these securities is $0. |
| <sup>3</sup>The rate is the annualized seven-day yield at period end. |

---

## 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

- **b. Investment Company Act file number:** 811-21719

- **c. CIK number of Registrant:** 0001318342

- **d. LEI of Registrant:** 549300ESWU4ZNAH5Y054

- **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:** EP Emerging Markets Fund

- **b. EDGAR series identifier (if any):** S000030491

- **c. LEI of Series:** 549300E9C9AWHVZ11Y03

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $81808401.24

**Total Liabilities:** $350542.70

**Net Assets:** $81457858.54

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000093793 | 11.15%               | -2.19%               | 9.21%                |
| Class ID C000129565 | 11.15%               | -2.18%               | 9.16%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3852988.71              | $3459988.16                                |
| Month 2  | $-337607.52              | $-1308377.72                               |
| Month 3  | $-2729.19                | $6596155.15                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bank BTPN Syariah Tbk PT       | Bank BTPN Syariah Tbk P.T.                                       | CUSIP: Y713AP104<br>LEI: N/A                  | Long             | EC               | CORP              | ID        |   3677180 | NS      | $628837.13    | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Meliuz SA                      | Meliuz S.A.                                                      | CUSIP: P6S4E0106<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   1397810 | NS      | $305649.61    | 0.38%             |  |  |  | Yes           |                  1 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre, Inc.                                               | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |       500 | NS      | $590845.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Metropolis Healthcare Ltd      | Metropolis Healthcare Ltd.                                       | CUSIP: Y59774110<br>LEI: 335800SD5OOGR1D97215 | Long             | EC               | CORP              | IN        |     12550 | NS      | $206894.58    | 0.25%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Thai Beverage PCL              | Thai Beverage PCL                                                | CUSIP: Y8588A103<br>LEI: 529900VZFHQZ684D8L07 | Long             | EC               | CORP              | TH        |   1500000 | NS      | $801263.51    | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| FULING ZHACAI                  | Chongqing Fuling Zhacai Group Co., Ltd. - Class A                | CUSIP: Y1588V102<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    337385 | NS      | $1334795.32   | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| MYGD                           | Hefei Meiya Optoelectronic Technology, Inc. - Class A            | CUSIP: Y3123L102<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    290764 | NS      | $1182407.28   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Hansol Chemical Co Ltd         | Hansol Chemical Co., Ltd.                                        | CUSIP: Y3064E109<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      9050 | NS      | $1560451.46   | 1.92%             |  |  |  | No            |                  2 | On Loan: No      |
| KT&G Corp                      | KT&G Corp.                                                       | CUSIP: Y49904108<br>LEI: 988400ZJV6ISYBLQX875 | Long             | EC               | CORP              | KR        |     10000 | NS      | $750115.15    | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| NCSoft Corp                    | NCSoft Corp.                                                     | CUSIP: Y6258Y104<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1100 | NS      | $407144.51    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| LEENO Industrial Inc           | LEENO Industrial, Inc.                                           | CUSIP: Y5254W104<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     13920 | NS      | $1943248.90   | 2.39%             |  |  |  | No            |                  2 | On Loan: No      |
| CSPC Pharmaceutical Group Ltd  | CSPC Pharmaceutical Group Ltd.                                   | CUSIP: Y1837N109<br>LEI: 529900M3XQCW234H8O91 | Long             | EC               | CORP              | CN        |    700000 | NS      | $798136.76    | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Asia Cement Corp               | Asia Cement Corp.                                                | CUSIP: Y0275F107<br>LEI: 213800EFQXH43HMGJL59 | Long             | EC               | CORP              | TW        |    550000 | NS      | $774837.80    | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| China Resources Gas Group Ltd  | China Resources Gas Group Ltd.                                   | CUSIP: G2113B108<br>LEI: 529900A0E1J5JSOKEK83 | Long             | EC               | CORP              | HK        |    250000 | NS      | $1051302.73   | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Formosa Plastics Corp          | Formosa Plastics Corp.                                           | CUSIP: Y26095102<br>LEI: 254900KM6G17UTG1QN82 | Long             | EC               | CORP              | TW        |    400000 | NS      | $1192347.71   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| ICBC                           | Industrial & Commercial Bank of China Ltd. - Class H             | CUSIP: Y3990B112<br>LEI: 5493002ERZU2K9PZDL40 | Long             | EC               | CORP              | CN        |   1500000 | NS      | $802377.19    | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Airtac International Group     | Airtac International Group                                       | CUSIP: G01408106<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     40335 | NS      | $1379423.95   | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| HAITIAN INT'L                  | Haitian International Holdings Ltd.                              | CUSIP: G4232C108<br>LEI: 30030093DDRS825TVP62 | Long             | EC               | CORP              | CN        |    652995 | NS      | $2003996.45   | 2.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Chroma ATE Inc                 | Chroma ATE, Inc.                                                 | CUSIP: Y1604M102<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    230915 | NS      | $1432991.20   | 1.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Realtek Semiconductor Corp     | Realtek Semiconductor Corp.                                      | CUSIP: Y7220N101<br>LEI: 5299002E7F36O00MYY75 | Long             | EC               | CORP              | TW        |    150000 | NS      | $1610833.14   | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc                   | MediaTek, Inc.                                                   | CUSIP: Y5945U103<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |     35000 | NS      | $845634.04    | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| ENN Energy Holdings Ltd        | ENN Energy Holdings Ltd.                                         | CUSIP: G3066L101<br>LEI: 549300V7BXPWT6WIPR03 | Long             | EC               | CORP              | CN        |     25000 | NS      | $376665.88    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Chunbo Co Ltd                  | Chunbo Co., Ltd.                                                 | CUSIP: Y1R14A103<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      5940 | NS      | $1157270.99   | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Amoy Diagnostics Co Ltd        | Amoy Diagnostics Co., Ltd. - Class A                             | CUSIP: Y0099T101<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    259965 | NS      | $1109820.09   | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Novatek Microelectronics Corp  | Novatek Microelectronics Corp.                                   | CUSIP: Y64153102<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     50000 | NS      | $595393.51    | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Meituan                        | Meituan - Class B                                                | CUSIP: G59669104<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | CN        |      9200 | NS      | $205672.77    | 0.25%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Parade Technologies Ltd        | Parade Technologies Ltd.                                         | CUSIP: G6892A108<br>LEI: 529900D9FDQHQKAQLY02 | Long             | EC               | CORP              | US        |     50000 | NS      | $1546184.18   | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| ASPEED Technology Inc          | ASPEED Technology, Inc.                                          | CUSIP: Y04044106<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     28264 | NS      | $2001612.61   | 2.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Yifeng Pharmacy Chain Co Ltd   | Yifeng Pharmacy Chain Co., Ltd. - Class A                        | CUSIP: Y982AC104<br>LEI: 300300CZZIF44N1EZO06 | Long             | EC               | CORP              | CN        |    209733 | NS      | $1765314.31   | 2.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Voltronic Power Technology Cor | Voltronic Power Technology Corp.                                 | CUSIP: Y937BE103<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     10000 | NS      | $506042.83    | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Silergy Corp                   | Silergy Corp.                                                    | CUSIP: G8190F102<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     33580 | NS      | $683334.83    | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd           | Tencent Holdings Ltd.                                            | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |     92000 | NS      | $4483032.39   | 5.50%             |  |  |  | No            |                  2 | On Loan: No      |
| momo.com Inc                   | momo.com, Inc.                                                   | CUSIP: Y265B6106<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     33600 | NS      | $894148.76    | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao    | B3 S.A. - Brasil Bolsa Balcao                                    | CUSIP: P1909G107<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | EC               | CORP              | BR        |    300000 | NS      | $765912.18    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bradesco SA              | Banco Bradesco S.A. - ADR                                        | CUSIP: 059460303<br>LEI: 549300CTUU1RFXHQJE44 | Long             |  | CORP              | BR        |    250000 | NS      | $697500.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Bolsa Mexicana de Valores SAB  | Bolsa Mexicana de Valores S.A.B. de C.V.                         | CUSIP: P17330104<br>LEI: 894500CS2D6RLGW61A19 | Long             | EC               | CORP              | MX        |    400000 | NS      | $867528.74    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CI&T Inc                       | CI&T, Inc. - Class A                                             | CUSIP: G21307106<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     93480 | NS      | $695491.20    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Castrol India Ltd              | Castrol India Ltd.                                               | CUSIP: Y1143S149<br>LEI: 335800KCNMKXQFPJ5Q28 | Long             | EC               | CORP              | IN        |    500000 | NS      | $721272.62    | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| DMCI Holdings Inc              | DMCI Holdings, Inc.                                              | CUSIP: Y2088F100<br>LEI: N/A                  | Long             | EC               | CORP              | PH        |   3200000 | NS      | $646062.88    | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| EPL Ltd                        | EPL Ltd.                                                         | CUSIP: Y2297N142<br>LEI: 335800SHKQVLNEGB2W80 | Long             | EC               | CORP              | IN        |    639575 | NS      | $1221865.32   | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Frontken Corp Bhd              | Frontken Corp. Bhd                                               | CUSIP: Y26510100<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |   3297550 | NS      | $2570988.22   | 3.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Freshworks Inc                 | Freshworks, Inc. - Class A                                       | CUSIP: 358054104<br>LEI: 254900ULRGCUEIK0K191 | Long             | EC               | CORP              | US        |     50000 | NS      | $809000.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| GMM Pfaudler Ltd               | GMM Pfaudler Ltd.                                                | CUSIP: Y27292120<br>LEI: 335800KCMB1KC4EBZR39 | Long             | EC               | CORP              | IN        |     50000 | NS      | $1006185.49   | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Nanofilm Technologies Internat | Nanofilm Technologies International Ltd.                         | CUSIP: Y62025104<br>LEI: N/A                  | Long             | EC               | CORP              | SG        |    697960 | NS      | $771326.02    | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Oil India Ltd                  | Oil India Ltd.                                                   | CUSIP: Y64210100<br>LEI: 335800XXEP14XISP1A16 | Long             | EC               | CORP              | IN        |    300000 | NS      | $859149.16    | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Regional SAB de CV             | Regional S.A.B. de C.V.                                          | CUSIP: P8008V109<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    170000 | NS      | $1466764.03   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Richter Gedeon Nyrt            | Richter Gedeon Nyrt                                              | CUSIP: X3124S107<br>LEI: 549300J6ZJW5IH4WEE46 | Long             | EC               | CORP              | HU        |     15000 | NS      | $338721.01    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| TOA Paint Thailand PCL         | TOA Paint Thailand PCL                                           | CUSIP: Y88495109<br>LEI: 254900E35GTJZH95L596 | Long             | EC               | CORP              | TH        |   1912380 | NS      | $1974252.82   | 2.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Federated Hermes Treasury Obli | Federated Hermes Treasury Obligations Fund - Class Institutional | CUSIP: 60934N500<br>LEI: 254900WUIGYHOH89FC60 | Long             | STIV             | RF                | US        |   4883435 | PA      | $4883434.92   | 6.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodacom Group Ltd              | Vodacom Group Ltd.                                               | CUSIP: S9453B108<br>LEI: 37890012A8DC24B8D663 | Long             | EC               | CORP              | ZA        |     90000 | NS      | $632507.07    | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| VTEX                           | VTEX - Class A                                                   | CUSIP: G9470A102<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |    243230 | NS      | $1101831.90   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokai Carbon Korea Co Ltd      | Tokai Carbon Korea Co., Ltd.                                     | CUSIP: Y8851Q108<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      9775 | NS      | $832529.54    | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Koh Young Technology Inc       | Koh Young Technology, Inc.                                       | CUSIP: Y4810R105<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |    113345 | NS      | $1590594.36   | 1.95%             |  |  |  | No            |                  2 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co., Ltd.                     | CUSIP: Y84629107<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     40000 | NS      | $705871.91    | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Kakao Games Corp               | Kakao Games Corp.                                                | CUSIP: Y451A1104<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     31000 | NS      | $1178550.60   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| LEPU MEDICAL                   | Lepu Medical Technology Beijing Co., Ltd. - Class A              | CUSIP: Y52384107<br>LEI: 3003007FXUYE3WNDDO39 | Long             | EC               | CORP              | CN        |    120000 | NS      | $397102.86    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Ace Hardware Indonesia Tbk PT  | Ace Hardware Indonesia Tbk P.T.                                  | CUSIP: Y000CY105<br>LEI: 529900WER46RYFNZER60 | Long             | EC               | CORP              | ID        |  55000000 | NS      | $1800794.30   | 2.21%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Engineering Ltd            | AIA Engineering Ltd.                                             | CUSIP: Y0028Y106<br>LEI: 3358009DFG4JFX1O8H85 | Long             | EC               | CORP              | IN        |     40000 | NS      | $1344871.84   | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Arco Platform Ltd              | Arco Platform Ltd.                                               | CUSIP: G04553106<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     65230 | NS      | $863645.20    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Clicks Group Ltd               | Clicks Group Ltd.                                                | CUSIP: S17249111<br>LEI: 378900E967958A677472 | Long             | EC               | CORP              | ZA        |      4834 | NS      | $73726.83     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Dino Polska SA                 | Dino Polska S.A.                                                 | CUSIP: X188AF102<br>LEI: 259400H4L81SMPRTW956 | Long             | EC               | CORP              | PL        |     15000 | NS      | $1358920.63   | 1.67%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Indofood Sukses Makmur Tbk PT  | Indofood Sukses Makmur Tbk P.T.                                  | CUSIP: Y7128X128<br>LEI: 529900E61EV2GTYWZ485 | Long             | EC               | CORP              | ID        |   3500000 | NS      | $1572899.16   | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| JSE Ltd                        | JSE Ltd.                                                         | CUSIP: S4254A102<br>LEI: 213800MZ1VUQEBWRFO39 | Long             | EC               | CORP              | ZA        |     12392 | NS      | $82435.29     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark de Mexico SAB d | Kimberly-Clark de Mexico S.A.B. de C.V. - Class A                | CUSIP: P60694117<br>LEI: 549300JGHL56QT00KT54 | Long             | EC               | CORP              | MX        |    400000 | NS      | $763442.29    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Lojas Quero Quero S/A          | Lojas Quero Quero S/A                                            | CUSIP: P6331J108<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    568975 | NS      | $414712.98    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| L&T Technology Services Ltd    | L&T Technology Services Ltd.                                     | CUSIP: Y5S4BH104<br>LEI: 335800OITXHL9VYVRC58 | Long             | EC               | CORP              | IN        |     15200 | NS      | $624095.06    | 0.77%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Locaweb Servicos de Internet S | Locaweb Servicos de Internet S.A.                                | CUSIP: P6S00R100<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    754890 | NS      | $953222.80    | 1.17%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Medplus Health Services Ltd    | Medplus Health Services Ltd.                                     | CUSIP: Y594L1109<br>LEI: 335800QYF5P4YJGT4P11 | Long             | EC               | CORP              | IN        |     60390 | NS      | $470076.44    | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Nan Ya Plastics Corp           | Nan Ya Plastics Corp.                                            | CUSIP: Y62061109<br>LEI: 254900L66RP14M9UOM28 | Long             | EC               | CORP              | TW        |    450000 | NS      | $1132483.26   | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Largan Precision Co Ltd        | Largan Precision Co., Ltd.                                       | CUSIP: Y52144105<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      5000 | NS      | $356806.79    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Nien Made Enterprise Co Ltd    | Nien Made Enterprise Co., Ltd.                                   | CUSIP: Y6349P112<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     40000 | NS      | $416912.84    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Anhui Conch Cement Co Ltd      | Anhui Conch Cement Co., Ltd. - Class H                           | CUSIP: Y01373102<br>LEI: 300300JVKW56SSAEQZ33 | Long             | EC               | CORP              | CN        |    300000 | NS      | $1138918.79   | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| China Forestry Holdings Co Ltd | China Forestry Holdings Co., Ltd.                                | CUSIP: G2113A100<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |   2700000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Cia Cervecerias Unidas SA      | Cia Cervecerias Unidas S.A. - ADR                                | CUSIP: 204429104<br>LEI: 529900BJW9B0O6LI2R39 | Long             |  | CORP              | CL        |     80000 | NS      | $1248800.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| City Union Bank Ltd            | City Union Bank Ltd.                                             | CUSIP: Y1659F135<br>LEI: 33580024M7FWA847JI64 | Long             | EC               | CORP              | IN        |    400000 | NS      | $777554.17    | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Mphasis Ltd                    | Mphasis Ltd.                                                     | CUSIP: Y6144V108<br>LEI: 335800NSYTIQLQKUYP62 | Long             | EC               | CORP              | IN        |     32060 | NS      | $818071.03    | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MR DIY Group M Bhd             | MR DIY Group M Bhd                                               | CUSIP: Y6143M257<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |   1395750 | NS      | $623438.05    | 0.77%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Wilcon Depot Inc               | Wilcon Depot, Inc.                                               | CUSIP: Y9584X105<br>LEI: N/A                  | Long             | EC               | CORP              | PH        |   1987895 | NS      | $1164451.05   | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| SOUTH AFRICAN RAND  /          | SOUTH AFRICAN RAND  /                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | ZA        |     18778 | OU      | $1079.18      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ZAR SPOT FORWARD CONTRACT   /  | ZAR SPOT FORWARD CONTRACT   /                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | ZA        |    145077 | OU      | $8337.78      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-23

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

**Signature:** /s/ Terrance P. Gallagher

**Name of Signer:** Terrance P. Gallagher

**Title:** Assistant Vice President