# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001193125-25-219668
**Filing Date:** 2025-9
**Character Count:** 29307
**Document Hash:** 795c5d7aa084bdc3c3a0bcced45447a9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-219668.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0001193125-25-219668

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**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:** 251346909

**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

### EuroPac International Value Fund (Series ID: S000028332)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000086557 | Class A      | EPIVX           |
| C000129563 | Class I      | EPVIX           |

## Nport-Ex

#### EuroPac International Value Fund

#### SCHEDULE OF INVESTMENTS

#### As of July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS — 89.6%** |  |
|  | **AUSTRALIA — 2.3%** |  |
| 200000 | Sonic Healthcare Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$3548615** |
|  | **BRAZIL — 1.1%** |  |
| 750656 | Ambev S.A. - ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1636430** |
|  | **CANADA — 21.8%** |  |
| 55000 | Agnico Eagle Mines Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6839800 |
| 40000 | Bank of Nova Scotia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2225462 |
| 335000 | Barrick Mining Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7075200 |
| 30000 | Franco-Nevada Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4779900 |
| 600000 | IAMGOLD Corp. <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4056000 |
| 300000 | Kinross Gold Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800000 |
| 30000 | Nutrien Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1779600 |
| 84694 | Pan American Silver Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2288432 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**33844394** |
|  | **CHINA — 1.1%** |  |
| 25000 | Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1751592** |
|  | **DENMARK — 3.6%** |  |
| 20000 | Novo Nordisk A/S - ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941400 |
| 30000 | Novonesis (Novozymes) B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1952972 |
| 35000 | Royal Unibrew A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2623074 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5517446** |
|  | **FRANCE — 1.7%** |  |
| 25000 | Pluxee N.V. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508673 |
| 35000 | Societe BIC S.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2132831 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2641504** |
|  | **GERMANY — 4.2%** |  |
| 20000 | BASF S.E. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985051 |
| 100000 | Carl Zeiss Meditec A.G. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5550610 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6535661** |
|  | **JAPAN — 9.6%** |  |
| 40000 | BayCurrent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2301326 |
| 50000 | Chugai Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2440318 |
| 100000 | MonotaRO Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1793104 |
| 400000 | Ono Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4484085 |
| 150000 | Shoei Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802387 |
| 130000 | Yakult Honsha Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2096552 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14917772** |

---

------

#### EuroPac International Value Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS (Continued)** |  |
|  | **MEXICO — 3.0%** |  |
| 2500000 | Kimberly-Clark de Mexico S.A.B. de C.V. - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$4659422** |
|  | **NETHERLANDS — 2.8%** |  |
| 22000 | Aalberts N.V. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706972 |
| 100000 | Shell PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3594089 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4301061** |
|  | **NORWAY — 1.8%** |  |
| 105000 | Equinor A.S.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2718766** |
|  | **SINGAPORE — 2.9%** |  |
| 165000 | Singapore Exchange Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2033272 |
| 842700 | Singapore Telecommunications Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2518235 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4551507** |
|  | **SWEDEN — 4.9%** |  |
| 85000 | Evolution A.B. <sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7575005** |
|  | **SWITZERLAND — 4.7%** |  |
| 1500 | Barry Callebaut A.G. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1840145 |
| 20000 | Novartis A.G. - ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2274800 |
| 10000 | Roche Holding A.G. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3165087 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7280032** |
|  | **UNITED KINGDOM — 16.9%** |  |
| 85000 | BP PLC - ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2732750 |
| 200000 | British American Tobacco PLC - ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10736000 |
| 125000 | Burberry Group PLC <sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2130382 |
| 135000 | Greggs PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2816957 |
| 55760 | GSK PLC - ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2071484 |
| 40000 | Reckitt Benckiser Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2996302 |
| 45000 | Unilever PLC - ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2629350 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**26113225** |
|  | **UNITED STATES — 7.2%** |  |
| 85000 | Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5278500 |
| 73200 | Newmont Corp. - CDI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4550245 |
| 8500 | Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394425 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11223170** |
|  | **TOTAL COMMON STOCKS** |  |
|  | (Cost $105,412,435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**138815602** |

---

------

#### EuroPac International Value Fund

#### SCHEDULE OF INVESTMENTS - Continued

#### As of July 31, 2025 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **SHORT-TERM INVESTMENTS — 10.1%** |  |
| 15537100 | Federated Hermes Treasury Obligations Fund - Institutional Class, 4.112% <sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15537100 |
|  | **Total Short-Term Investments** |  |
|  | (Cost $15,537,100) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15537100** |
|  | **TOTAL INVESTMENTS — 99.7%** |  |
|  | (Cost $120,949,535) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**154352702** |
|  | Other Assets in Excess of Liabilities — 0.3% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535162 |
|  | **TOTAL NET ASSETS — 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$154887864** |

---

ADR – American Depository Receipt <br> CDI – CHESS Depositary Interest <br> PLC – Public Limited Company

---

| |
|:---|
| <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 $7,575,005, which represents 4.89% of Net Assets. |
| <sup>2</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:** EuroPac International Value Fund

- **b. EDGAR series identifier (if any):** S000028332

- **c. LEI of Series:** 549300QRY4BKI6OJI637

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $155197105.73

**Total Liabilities:** $271875.20

**Net Assets:** $154925230.53

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000086557 | 1.17%                | 3.15%                | 0.08%                |
| Class ID C000129563 | 1.25%                | 3.21%                | 0.08%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $507873.50               | $778909.00                                 |
| Month 2  | $9060.32                 | $4650179.10                                |
| Month 3  | $-3481.65                | $169559.24                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Shoei Co Ltd                   | Shoei Co., Ltd.                                                  | CUSIP: J74530114<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    150000 | NS      | $1802387.27   | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Aalberts NV                    | Aalberts N.V.                                                    | CUSIP: N00089271<br>LEI: 549300EMP9DT6Q35HZ31 | Long             | EC               | CORP              | NL        |     22000 | NS      | $706972.50    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Ambev SA                       | Ambev S.A. - ADR                                                 | CUSIP: 02319V103<br>LEI: 549300TH5Q6VRP8OT012 | Long             |  | CORP              | BR        |    750656 | NS      | $1636430.08   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd         | Agnico Eagle Mines Ltd.                                          | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               | CORP              | CA        |     55000 | NS      | $6839800.00   | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Treasury Obli | Federated Hermes Treasury Obligations Fund - Class Institutional | CUSIP: 60934N500<br>LEI: 254900WUIGYHOH89FC60 | Long             | STIV             | RF                | US        |  15651166 | PA      | $15651165.54  | 10.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                   | Unilever PLC - ADR                                               | CUSIP: 904767704<br>LEI: 549300MKFYEKVRWML317 | Long             |  | CORP              | GB        |     45000 | NS      | $2629350.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Yakult Honsha Co Ltd           | Yakult Honsha Co., Ltd.                                          | CUSIP: J95468120<br>LEI: 353800YJPSPGG7KI0S71 | Long             | EC               | CORP              | JP        |    130000 | NS      | $2096551.72   | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| MonotaRO Co Ltd                | MonotaRO Co., Ltd.                                               | CUSIP: J46583100<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    100000 | NS      | $1793103.45   | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Chugai Pharmaceutical Co Ltd   | Chugai Pharmaceutical Co., Ltd.                                  | CUSIP: J06930101<br>LEI: 529900T9LAII161DCN95 | Long             | EC               | CORP              | JP        |     50000 | NS      | $2440318.30   | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Ono Pharmaceutical Co Ltd      | Ono Pharmaceutical Co., Ltd.                                     | CUSIP: J61546115<br>LEI: 529900G26L4NG4GFJZ86 | Long             | EC               | CORP              | JP        |    400000 | NS      | $4484084.88   | 2.89%             |  |  |  | No            |                  2 | On Loan: No      |
| BayCurrent Inc                 | BayCurrent, Inc.                                                 | CUSIP: J0433F103<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     40000 | NS      | $2301326.26   | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd           | Tencent Holdings Ltd.                                            | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |     25000 | NS      | $1751592.36   | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Pan American Silver Corp       | Pan American Silver Corp.                                        | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     84694 | NS      | $2288431.88   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Pluxee NV                      | Pluxee N.V.                                                      | CUSIP: N8000Y103<br>LEI: 213800RQNIQT48SEEO85 | Long             | EC               | CORP              | FR        |     25000 | NS      | $508672.83    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International In | Philip Morris International, Inc.                                | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      8500 | NS      | $1394425.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Unibrew A/S              | Royal Unibrew A/S                                                | CUSIP: K8390X122<br>LEI: 529900D69KFL8IAP8Q63 | Long             | EC               | CORP              | DK        |     35000 | NS      | $2623073.63   | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Group PLC    | Reckitt Benckiser Group PLC                                      | CUSIP: G74079107<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |     40000 | NS      | $2996302.17   | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG               | Roche Holding A.G.                                               | CUSIP: H69293217<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     10000 | NS      | $3165086.79   | 2.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Exchange Ltd         | Singapore Exchange Ltd.                                          | CUSIP: Y79946102<br>LEI: 549300IQ650PPXM76X03 | Long             | EC               | CORP              | SG        |    165000 | NS      | $2033271.72   | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell PLC                      | Shell PLC                                                        | CUSIP: G80827101<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    100000 | NS      | $3594088.78   | 2.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe BIC SA                 | Societe BIC S.A.                                                 | CUSIP: F10080103<br>LEI: 969500UR00DF63I0VH67 | Long             | EC               | CORP              | FR        |     35000 | NS      | $2132831.22   | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia/The        | Bank of Nova Scotia                                              | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |     40000 | NS      | $2225461.89   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                         | BP PLC - ADR                                                     | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             |  | CORP              | GB        |     85000 | NS      | $2732750.00   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Burberry Group PLC             | Burberry Group PLC                                               | CUSIP: G1700D105<br>LEI: 213800PE1KEFCNFR1R50 | Long             | EC               | CORP              | GB        |    125000 | NS      | $2130381.67   | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Carl Zeiss Meditec AG          | Carl Zeiss Meditec A.G.                                          | CUSIP: D14895102<br>LEI: 529900GRL4MZ8NMOOK95 | Long             | EC               | CORP              | DE        |    100000 | NS      | $5550610.52   | 3.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Barrick Mining Corp            | Barrick Mining Corp.                                             | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    335000 | NS      | $7075200.00   | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Barry Callebaut AG             | Barry Callebaut A.G.                                             | CUSIP: H05072105<br>LEI: 213800Y5RWKLDPUTT265 | Long             | EC               | CORP              | CH        |      1500 | NS      | $1840145.27   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BASF SE                        | BASF S.E.                                                        | CUSIP: D06216317<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |     20000 | NS      | $985050.78    | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Sonic Healthcare Ltd           | Sonic Healthcare Ltd.                                            | CUSIP: Q8563C107<br>LEI: 549300NQQ5L2NONWR862 | Long             | EC               | CORP              | AU        |    200000 | NS      | $3548615.13   | 2.29%             |  |  |  | No            |                  2 | On Loan: No      |
| SingTel                        | Singapore Telecommunications Ltd.                                | CUSIP: Y79985209<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |    842700 | NS      | $2518234.75   | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| British American Tobacco PLC   | British American Tobacco PLC - ADR                               | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             |  | CORP              | GB        |    200000 | NS      | $10736000.00  | 6.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                    | Equinor A.S.A.                                                   | CUSIP: R2R90P103<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |    105000 | NS      | $2718765.42   | 1.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Evolution AB                   | Evolution A.B.                                                   | CUSIP: W3287P115<br>LEI: 549300SUH6ZR1RF6TA88 | Long             | EC               | CORP              | SE        |     85000 | NS      | $7575005.36   | 4.89%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Franco-Nevada Corp             | Franco-Nevada Corp.                                              | CUSIP: 351858105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     30000 | NS      | $4779900.00   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Greggs PLC                     | Greggs PLC                                                       | CUSIP: G41076111<br>LEI: 213800I71QMUFJ64IW20 | Long             | EC               | CORP              | GB        |    135000 | NS      | $2816957.21   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                        | GSK PLC - ADR                                                    | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             |  | CORP              | GB        |     55760 | NS      | $2071484.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp                   | IAMGOLD Corp.                                                    | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |    600000 | NS      | $4056000.00   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp              | Kinross Gold Corp.                                               | CUSIP: 496902404<br>LEI: 549300UEBMAQDN0K0R06 | Long             | EC               | CORP              | CA        |    300000 | NS      | $4800000.00   | 3.10%             |  |  |  | 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        |   2500000 | NS      | $4659422.21   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                   | Newmont Corp.                                                    | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     85000 | NS      | $5278500.00   | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                   | Newmont Corp.                                                    | CUSIP: U65163187<br>LEI: 549300VSP3RIX7FGDZ51 | Long             |  | CORP              | US        |     73200 | NS      | $4550244.84   | 2.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Novonesis Novozymes B          | Novonesis Novozymes B                                            | CUSIP: K7317J133<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |     30000 | NS      | $1952972.11   | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Nutrien Ltd                    | Nutrien Ltd.                                                     | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     30000 | NS      | $1779600.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S               | Novo Nordisk A/S - ADR                                           | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             |  | CORP              | DK        |     20000 | NS      | $941400.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                    | Novartis A.G. - ADR                                              | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             |  | CORP              | CH        |     20000 | NS      | $2274800.00   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-06

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

**Signature:** /s/ Maureen Quill

**Name of Signer:** Maureen Quill

**Title:** President