# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001193125-26-233691
**Filing Date:** 2026-5
**Character Count:** 30979
**Document Hash:** f785c94bf35aad7503a9aaa36c95ae19
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-233691.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0001193125-26-233691

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investment Managers Series Trust
- **CENTRAL INDEX KEY:** 0001318342

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21719
- **FILM NUMBER:** 261006111

**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

### Robinson Tax Advantaged Income Fund (Series ID: S000046847)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000146391 | Class A Shares             | ROBAX           |
| C000146392 | Class C Shares             | ROBCX           |
| C000146393 | Institutional Class Shares | ROBNX           |

## Nport-Ex

**Robinson Tax Advantaged Income Fund**

**SCHEDULE OF INVESTMENTS**

**As of March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **CLOSED-END FUNDS — 88.7%** |  |
| 56842 | abrdn National Municipal Income Fund | $566146 |
| 265460 | AllianceBernstein National Municipal Income Fund, Inc. | 2837767 |
| 129123 | BlackRock MuniAssets Fund, Inc. | 1369995 |
| 1122458 | BlackRock MuniHoldings California Quality Fund, Inc. | 11673563 |
| 2066475 | BlackRock MuniHoldings Fund, Inc. | 23309838 |
| 344567 | BlackRock MuniHoldings New Jersey Quality Fund, Inc. | 3986640 |
| 390223 | BlackRock MuniYield Michigan Quality Fund, Inc. | 4635849 |
| 953650 | BlackRock MuniYield New York Quality Fund, Inc. | 9155040 |
| 1619778 | BlackRock MuniYield Quality Fund III, Inc. | 17023867 |
| 1632324 | BlackRock MuniYield Quality Fund, Inc. | 17922917 |
| 68229 | BNY Mellon Municipal Bond Infrastructure Fund, Inc. | 719134 |
| 425476 | BNY Mellon Strategic Municipal Bond Fund, Inc. | 2557111 |
| 890680 | BNY Mellon Strategic Municipals, Inc. | 5602377 |
| 134395 | DWS Municipal Income Trust | 1222994 |
| 1028202 | Eaton Vance Municipal Bond Fund | 10045534 |
| 72861 | Eaton Vance National Municipal Opportunities Trust | 1247380 |
| 195329 | Federated Hermes Premier Municipal Income Fund | 2134946 |
| 928584 | Invesco Municipal Opportunity Trust | 8830834 |
| 395260 | Invesco Municipal Trust | 3762875 |
| 166029 | Invesco Pennsylvania Value Municipal Income Trust | 1754927 |
| 195032 | Invesco Quality Municipal Income Trust | 1876208 |
| 34133 | Invesco Trust for Investment Grade Municipals | 336893 |
| 594863 | MFS High Income Municipal Trust | 2206942 |
| 179173 | MFS Municipal Income Trust | 965742 |
| 408637 | Neuberger Municipal Fund, Inc. | 4147666 |
| 333024 | Nuveen New Jersey Quality Municipal Income Fund | 4096195 |
| 425353 | Nuveen New York AMT-Free Quality Municipal Income Fund | 4342854 |
| 8884 | Nuveen Pennsylvania Quality Municipal Income Fund | 105986 |
| 417360 | NYLI MacKay DefinedTerm Municipal Opportunities Fund | 6197796 |
| 567417 | PIMCO California Municipal Income Fund | 4868438 |
| 436375 | PIMCO Municipal Income Fund II | 3303359 |
| 285882 | PIMCO New York Municipal Income Fund II | 1958292 |
| 290313 | Putnam Managed Municipal Income Trust | 1785425 |
| 557238 | Putnam Municipal Opportunities Trust | 5739551 |
| 643727 | RiverNorth Flexible Municipal Income Fund II, Inc. | 8143147 |
| 154999 | RiverNorth Flexible Municipal Income Fund, Inc. | 2174636 |
| 195309 | RiverNorth Managed Duration Municipal Income Fund II, Inc. - Class USD INC | 2869089 |
| 431397 | RiverNorth Managed Duration Municipal Income Fund, Inc. | 5879941 |
| 156955 | RiverNorth Opportunistic Municipal Income Fund, Inc. | 2363742 |
| 227014 | Western Asset Intermediate Muni Fund, Inc. | 1743468 |
| 668399 | Western Asset Managed Municipals Fund, Inc. | 6871142 |
|  | **TOTAL CLOSED-END FUNDS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $200,422,005) | **202336246** |

---

**Robinson Tax Advantaged Income Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **EXCHANGE-TRADED FUNDS — 5.1%** |  |
| 244351 | Invesco National AMT-Free Municipal Bond ETF | $5615186 |
| 121212 | VanEck High Yield Muni ETF | 6077570 |
|  | **TOTAL EXCHANGE-TRADED FUNDS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $11,723,887) | **11692756** |

---

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  |  |
|  | **SHORT-TERM INVESTMENTS — 1.6%** |  |
| $3589078 | UMB Bank, Institutional Banking Money Market II Deposit Investment, 3.06%<sup>1</sup> | 3589078 |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,589,078) | **3589078** |
|  | **TOTAL INVESTMENTS — 95.4%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $215,734,970) | **217618080** |
|  | Other Assets in Excess of Liabilities — 4.6% | 10543259 |
|  | **TOTAL NET ASSETS — 100.0%** | $**228161339** |

---

ETF – Exchange-Traded Fund

<sup>1</sup> The rate is the annualized seven-day yield at period end.

**Robinson Tax Advantaged Income Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of March 31, 2026 (Unaudited)**

**FUTURES CONTRACTS**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Number of**<br>**Contracts**<br>**Long (Short)** | <br>**Description** | <br>**Expiration**<br>**Date** |<br>**Notional**<br>**Value** | **Value/Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| (300) | U.S. 10 Year Treasury Note | June 2026 | $(33314063) | $375000 |
| (300) | U.S. Treasury Long Bond | June 2026 | (34162500) | 696093 |
| (200) | Ultra Long Term U.S. Treasury Bond | June 2026 | (23312500) | 540626 |
| **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** |  | $**(90789063)** | $**1611719** |

---

**Robinson Opportunistic Income Fund**

**SCHEDULE OF INVESTMENTS**

**As of March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **CLOSED-END FUNDS — 82.0%** |  |
| 9713 | Allspring Utilities and High Income Fund | $117527 |
| 46259 | BlackRock Multi-Sector Income Trust | 579163 |
| 19602 | Brookfield Real Assets Income Fund, Inc. | 252082 |
| 6000 | ClearBridge Energy Midstream Opportunity Fund, Inc. | 316920 |
| 41799 | DoubleLine Yield Opportunities Fund | 581842 |
| 54708 | Flaherty & Crumrine Preferred & Income Fund, Inc. | 611635 |
| 120000 | FS Credit Opportunities Corp. | 612000 |
| 53126 | FS Specialty Lending Fund | 664606 |
| 96227 | Invesco Senior Income Trust | 309851 |
| 14579 | John Hancock Diversified Income Fund | 158328 |
| 27809 | John Hancock Investors Trust | 359014 |
| 51789 | KKR Income Opportunities Fund | 569679 |
| 73415 | Nuveen Floating Rate Income Fund | 552081 |
| 25758 | Principal Real Estate Income Fund | 247534 |
| 24764 | Western Asset Emerging Markets Debt Fund, Inc. | 243183 |
| 98410 | Western Asset Global High Income Fund, Inc. | 580619 |
| 146800 | Western Asset High Income Fund II, Inc. | 584264 |
| 30961 | Western Asset Inflation-Linked Income Fund | 250165 |
| 68500 | Western Asset Inflation-Linked Opportunities & Income Fund | 579510 |
| 53392 | Western Asset Mortgage Opportunity Fund, Inc. | 573964 |
|  | **TOTAL CLOSED-END FUNDS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $8,661,733) | **8743967** |
|  | **COMMON STOCKS — 5.6%** |  |
|  | **SPECIFIED PURPOSE ACQUISITION COMPANIES – 5.6%** |  |
| 12000 | Apex Treasury Corp. - Class A\*<sup>,1</sup> | 119880 |
| 10000 | Bitcoin Infrastructure Acquisition Corp. Ltd. - Class A\*<sup>,1</sup> | 99000 |
| 10000 | Drugs Made In America Acquisition II Corp.\*<sup>,1</sup> | 99800 |
| 10000 | GP-Act III Acquisition Corp. - Class A\*<sup>,1</sup> | 108400 |
| 12000 | McKinley Acquisition Corp. - Class A\*<sup>,1</sup> | 120720 |
| 5000 | Origin Investment Corp. I\*<sup>,1</sup> | 51050 |
|  |  | **598850** |
|  | **TOTAL COMMON STOCKS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $592,875) | **598850** |
|  | **EXCHANGE-TRADED FUNDS — 5.9%** |  |
| 29250 | iShares Mortgage Real Estate ETF | 627997 |
|  | **TOTAL EXCHANGE-TRADED FUNDS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $646,852) | **627997** |
|  | **RIGHTS — 0.0%** |  |
| 5000 | Bowen Acquisition Corp., Expiration Date: November 26, 2026\*<sup>,1,2</sup> |  |

---

**Robinson Opportunistic Income Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **RIGHTS (Continued)** |  |
| 10000 | Drugs Made In America Acquisition II Corp., Expiration Date: September 16, 2030\*<sup>,1</sup> | $800 |
|  | **TOTAL RIGHTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $0) | **800** |
|  | **UNIT TRUST FUNDS — 1.1%** |  |
| 12000 | FG Imperii Acquisition Corp.\*<sup>,1</sup> | 119640 |
|  | **TOTAL UNIT TRUST FUNDS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $120,106) | **119640** |
|  | **WARRANTS — 0.1%** |  |
| 6000 | Alchemy Investments Acquisition Corp. 1, Expiration Date: June 26, 2028\*<sup>,1</sup> | 960 |
| 6000 | Apex Treasury Corp., Expiration Date: November 17, 2030\*<sup>,1</sup> | 1380 |
| 5000 | Bitcoin Infrastructure Acquisition Corp. Ltd., Expiration Date: December 01, 2030\*<sup>,1</sup> | 1485 |
| 15310 | Electriq Power Holdings, Inc., Expiration Date: July 31, 2028\* |  |
| 11805 | Estrella Immunopharma, Inc., Expiration Date: July 19, 2028\* | 884 |
| 2500 | Origin Investment Corp. I, Expiration Date: May 08, 2030\*<sup>,1</sup> | 219 |
| 5000 | QT Imaging Holdings, Inc., Expiration Date: December 31, 2028\* | 1400 |
| 3333 | Stardust Power, Inc., Expiration Date: June 21, 2029\* | 601 |
|  | **TOTAL WARRANTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $0) | **6929** |

---

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  |  |
|  | **SHORT-TERM INVESTMENTS — 3.9%** |  |
| $417385 | UMB Bank, Institutional Banking Money Market II Deposit Investment, 3.06%<sup>3</sup> | 417385 |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $417,385) | **417385** |
|  | **TOTAL INVESTMENTS — 98.6%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $10,438,951) | **10515568** |
|  | Other Assets in Excess of Liabilities — 1.4% | 153826 |
|  | **TOTAL NET ASSETS — 100.0%** | $**10669394** |

---

ETF – Exchange-Traded Fund

<sup>\*</sup> Non-income producing security.

<sup>1</sup> Foreign security denominated in U.S. Dollars.

<sup>2</sup> The value of these securities was determined using significant unobservable inputs. These are reported as Level 3 securities in the Fair Value Hierarchy.

<sup>3</sup> The rate is the annualized seven-day yield at period end.

**Robinson Opportunistic Income Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of March 31, 2026 (Unaudited)**

**FUTURES CONTRACTS**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Number of**<br>**Contracts**<br>**Long (Short)** | <br>**Description** | <br>**Expiration**<br>**Date** |<br>**Notional**<br>**Value** | **Value/Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| (2) | E-mini Dow ($5) | June 2026 | $(465820) | $7550 |
| (4) | E-mini Russell 1000 | June 2026 | (423260) | 6620 |
| (7) | U.S. 10 Year Treasury Note | June 2026 | (777328) | 8750 |
| (5) | U.S. Treasury Long Bond | June 2026 | (569375) | 11602 |
| **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** |  | $**(2235783)** | $**34522** |

---

## 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:** Robinson Tax Advantaged Income Fund

- **b. EDGAR series identifier (if any):** S000046847

- **c. LEI of Series:** 549300OGHIULVNECLN58

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $228645577.49

**Total Liabilities:** $402951.29

**Net Assets:** $228242626.20

**Cash Not Reported:** $6828350.44

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000146391 | 2.20%                | 0.50%                | -2.91%               |
| Class ID C000146392 | 2.14%                | 0.33%                | -2.86%               |
| Class ID C000146393 | 2.22%                | 0.40%                | -2.78%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3016.21                 | $3954479.59                                |
| Month 2  | $518225.57               | $2339398.09                                |
| Month 3  | $548828.71               | $-11336341.73                              |

**Designated Index Information**

- **Index Name:** Unhedged Robinson Tax Advantaged Income Fund

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AllianceBernstein National Mun         | AllianceBernstein National Municipal Income Fund, Inc.     | CUSIP: 01864U106<br>LEI: MNYPOOOZYY8V01GEIT28 | Long             |  | RF                | US        |    265460 | NS      | $2837767.40   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS High Income Municipal Trus         | MFS High Income Municipal Trust                            | CUSIP: 59318D104<br>LEI: 0G9TCUWY2FBUXSJY2691 | Long             |  | RF                | US        |    594863 | NS      | $2206941.73   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| BNY Mellon Municipal Bond Infr         | BNY Mellon Municipal Bond Infrastructure Fund, Inc.        | CUSIP: 09662W109<br>LEI: 5493003OUY2BKGFZ2414 | Long             |  | RF                | US        |     68229 | NS      | $719133.66    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| BNY Mellon Strategic Municipal         | BNY Mellon Strategic Municipal Bond Fund, Inc.             | CUSIP: 09662E109<br>LEI: 54930044KK4C1VDJ7M52 | Long             |  | RF                | US        |    425476 | NS      | $2557110.76   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Vance Municipal Bond Fun         | Eaton Vance Municipal Bond Fund                            | CUSIP: 27827X101<br>LEI: 5493006Q4EBOXVQBQD12 | Long             |  | RF                | US        |   1028202 | NS      | $10045533.54  | 4.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Vance National Municipal         | Eaton Vance National Municipal Opportunities Trust         | CUSIP: 27829L105<br>LEI: 54930084Z1GHZMB5XL81 | Long             |  | RF                | US        |     72861 | NS      | $1247380.32   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Premier Munic         | Federated Hermes Premier Municipal Income Fund             | CUSIP: 31423P108<br>LEI: C0TUI5ZPEIY028NN4Q23 | Long             |  | RF                | US        |    195329 | NS      | $2134945.97   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck High Yield Muni ETF             | VanEck High Yield Muni ETF                                 | CUSIP: 92189H409<br>LEI: 549300UT41BWOPGYSE94 | Long             |  | RF                | US        |    121212 | NS      | $6077569.68   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB IB MONEY MARKET II   /             | UMB IB MONEY MARKET II   /                                 | CUSIP: SF8888627<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   3093946 | PA      | $3093946.47   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Quality Municipal Inco         | Invesco Quality Municipal Income Trust                     | CUSIP: 46133G107<br>LEI: WLEGDSEH0E242WVNUY02 | Long             |  | RF                | US        |    195032 | NS      | $1876207.84   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS Municipal Income Trust             | DWS Municipal Income Trust                                 | CUSIP: 233368109<br>LEI: TEL2CK71Z3LE1OCHIB43 | Long             |  | RF                | US        |    134395 | NS      | $1222994.50   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BNY Mellon Strategic Municipal         | BNY Mellon Strategic Municipals, Inc.                      | CUSIP: 05588W108<br>LEI: 549300FH0LKMOBY7N332 | Long             |  | RF                | US        |    890680 | NS      | $5602377.20   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MFS Municipal Income Trust             | MFS Municipal Income Trust                                 | CUSIP: 552738106<br>LEI: GV4WN51HRTKYT6CV5890 | Long             |  | RF                | US        |    179173 | NS      | $965742.47    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock MuniHoldings Fund In         | BlackRock MuniHoldings Fund, Inc.                          | CUSIP: 09253N104<br>LEI: MZBVMGS24JR92TGE6Z32 | Long             |  | RF                | US        |   2066475 | NS      | $23309838.00  | 10.21%            |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock MuniYield Michigan Q         | BlackRock MuniYield Michigan Quality Fund, Inc.            | CUSIP: 09254V105<br>LEI: J3H1DOS8Q2FL9RVLS329 | Long             |  | RF                | US        |    390223 | NS      | $4635849.24   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NYLI MacKay DefinedTerm Muni O         | NYLI MacKay DefinedTerm Muni Opportunities Fund            | CUSIP: 56064K100<br>LEI: 549300AOV8XDBTKPOR64 | Long             |  | RF                | US        |    417360 | NS      | $6197796.00   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Asset Managed Municipa         | Western Asset Managed Municipals Fund, Inc.                | CUSIP: 95766M105<br>LEI: 549300HVO8EY2T8K4F73 | Long             |  | RF                | US        |    668399 | NS      | $6871141.72   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock MuniYield Quality Fu         | BlackRock MuniYield Quality Fund, Inc.                     | CUSIP: 09254F100<br>LEI: TFKEE3VA3GBE5LOK5U77 | Long             |  | RF                | US        |   1632324 | NS      | $17922917.52  | 7.85%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock MuniAssets Fund Inc          | BlackRock MuniAssets Fund, Inc.                            | CUSIP: 09254J102<br>LEI: UJYLDIG1NIEEIV3PO802 | Long             |  | RF                | US        |    129123 | NS      | $1369995.03   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock MuniHoldings Califor         | BlackRock MuniHoldings California Quality Fund, Inc.       | CUSIP: 09254L107<br>LEI: NKJSRCJXMS5PZYPXY795 | Long             |  | RF                | US        |   1122458 | NS      | $11673563.20  | 5.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock MuniHoldings New Jer         | BlackRock MuniHoldings New Jersey Quality Fund, Inc.       | CUSIP: 09254X101<br>LEI: FDX8Y56FK6PN1WE5XX39 | Long             |  | RF                | US        |    344567 | NS      | $3986640.19   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock MuniYield Quality Fu         | BlackRock MuniYield Quality Fund III, Inc.                 | CUSIP: 09254E103<br>LEI: UB5J2GS6Q51M6A2L8886 | Long             |  | RF                | US        |   1619778 | NS      | $17023866.78  | 7.46%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock MuniYield New York Q         | BlackRock MuniYield New York Quality Fund, Inc.            | CUSIP: 09255E102<br>LEI: 158AYFGDRFUGVL3TD012 | Long             |  | RF                | US        |    953650 | NS      | $9155040.00   | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Neuberger Municipal Fund Inc           | Neuberger Municipal Fund, Inc.                             | CUSIP: 64124P101<br>LEI: 549300IIZWX8QVUHXO20 | Long             |  | RF                | US        |    408637 | NS      | $4147665.55   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Pennsylvania Quality Mu         | Nuveen Pennsylvania Quality Municipal Income Fund          | CUSIP: 670972108<br>LEI: 5493000C1CS4Q000GF67 | Long             |  | RF                | US        |      8884 | NS      | $105986.12    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen New York AMT-Free Quali         | Nuveen New York AMT-Free Quality Municipal Income Fund     | CUSIP: 670656107<br>LEI: 549300V4X2BF3UXSCQ58 | Long             |  | RF                | US        |    425353 | NS      | $4342854.13   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen New Jersey Quality Muni         | Nuveen New Jersey Quality Municipal Income Fund            | CUSIP: 67069Y102<br>LEI: 5493006CFPL75HL16F31 | Long             |  | RF                | US        |    333024 | NS      | $4096195.20   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO California Municipal Inc         | PIMCO California Municipal Income Fund                     | CUSIP: 72200N106<br>LEI: M4DHYCROG6SFNO22X437 | Long             |  | RF                | US        |    567417 | NS      | $4868437.86   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO Municipal Income Fund II         | PIMCO Municipal Income Fund II                             | CUSIP: 72200W106<br>LEI: ZVT714KPY3QTZWRT1S41 | Long             |  | RF                | US        |    436375 | NS      | $3303358.75   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Putnam Managed Municipal Incom         | Putnam Managed Municipal Income Trust                      | CUSIP: 746823103<br>LEI: 549300MCDIUT86HMWI73 | Long             |  | RF                | US        |    290313 | NS      | $1785424.95   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Putnam Municipal Opportunities         | Putnam Municipal Opportunities Trust                       | CUSIP: 746922103<br>LEI: 549300M74BR4G95PSL96 | Long             |  | RF                | US        |    557238 | NS      | $5739551.40   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO New York Municipal Incom         | PIMCO New York Municipal Income Fund II                    | CUSIP: 72200Y102<br>LEI: P1IBOVZHA4PI2PLT9Q65 | Long             |  | RF                | US        |    285882 | NS      | $1958291.70   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco National AMT-Free Muni         | Invesco National AMT-Free Municipal Bond ETF               | CUSIP: 46138E537<br>LEI: 549300WEUZO7LPK3WU38 | Long             |  | RF                | US        |    244351 | NS      | $5615185.98   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| RiverNorth Flexible Municipal          | RiverNorth Flexible Municipal Income Fund, Inc.            | CUSIP: 76883H104<br>LEI: 549300O6XP1DQZGJLC78 | Long             |  | RF                | US        |    154999 | NS      | $2174635.97   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| RiverNorth Flexible Municipal          | RiverNorth Flexible Municipal Income Fund II, Inc.         | CUSIP: 76883Y107<br>LEI: 549300U301TLYWQNC025 | Long             |  | RF                | US        |    643727 | NS      | $8143146.55   | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| RiverNorth Opportunistic Munic         | RiverNorth Opportunistic Municipal Income Fund, Inc.       | CUSIP: 76883F108<br>LEI: 549300RXJKKPD5ZG2Y84 | Long             |  | RF                | US        |    156955 | NS      | $2363742.30   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| RiverNorth Managed Duration Mu         | RiverNorth Managed Duration Municipal Income Fund, Inc.    | CUSIP: 76882H105<br>LEI: 549300Y5L3V48O754353 | Long             |  | RF                | US        |    431397 | NS      | $5879941.11   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| RiverNorth Managed Duration Mu         | RiverNorth Managed Duration Municipal Income Fund II, Inc. | CUSIP: 76882M104<br>LEI: N/A                  | Long             |  | RF                | US        |    195309 | NS      | $2869089.21   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Asset Intermediate Mun         | Western Asset Intermediate Muni Fund, Inc.                 | CUSIP: 958435109<br>LEI: 5493000MG5MROBD48K57 | Long             |  | RF                | US        |    227014 | NS      | $1743467.52   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| 10 YR T-NOTE FUTURE JUNE 2026   /      | 10 YR T-NOTE FUTURE JUNE 2026   /                          | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DIR              |  | US        |      -300 | NC      | $373950.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. LONG BOND FUT JUNE 2026   /       | U.S. LONG BOND FUT JUNE 2026   /                           | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DIR              |  | US        |      -300 | NC      | $695043.76    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn National Municipal Incom         | abrdn National Municipal Income Fund                       | CUSIP: 24610T108<br>LEI: NIC7ULNUGCUI836YP119 | Long             |  | RF                | US        |     56842 | NS      | $566146.32    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Trust for Investment G         | Invesco Trust for Investment Grade Municipals              | CUSIP: 46131M106<br>LEI: V0VF67S6NRLBDK357F71 | Long             |  | RF                | US        |     34133 | NS      | $336892.71    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Municipal Trust                | Invesco Municipal Trust                                    | CUSIP: 46131J103<br>LEI: GKS5Y4B1VKHV66WSPK53 | Long             |  | RF                | US        |    395260 | NS      | $3762875.20   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Municipal Opportunity          | Invesco Municipal Opportunity Trust                        | CUSIP: 46132C107<br>LEI: WERC5RXCUSU16MOTZ848 | Long             |  | RF                | US        |    928584 | NS      | $8830833.84   | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Pennsylvania Value Mun         | Invesco Pennsylvania Value Municipal Income Trust          | CUSIP: 46132K109<br>LEI: 549300S5KHBL3XISY922 | Long             |  | RF                | US        |    166029 | NS      | $1754926.53   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTRA LONG T-BOND FUTURE JUNE 2026   / | ULTRA LONG T-BOND FUTURE JUNE 2026   /                     | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DIR              |  | US        |      -200 | NC      | $539925.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-13

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

**Signature:** /s/ Maureen Quill

**Name of Signer:** Maureen Quill

**Title:** President