# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001145549-25-053277
**Filing Date:** 2025-8
**Character Count:** 56178
**Document Hash:** d745bf0856f3ca8da8b7c9224081a9ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-053277.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001145549-25-053277

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20251231

**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:** 251250710

**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

### Gramercy Emerging Markets Debt Fund (Series ID: S000084477)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000248863 | Institutional Class Shares | GFEMX           |
| C000248864 | Class A Shares             | GFEAX           |
| C000248865 | Class C Shares             | GFECX           |

## 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:** Gramercy Emerging Markets Debt Fund

- **b. EDGAR series identifier (if any):** S000084477

- **c. LEI of Series:** 98450060EI8DFR2DFA43

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $61176063.91

**Total Liabilities:** $2829226.15

**Net Assets:** $58346837.76

**Delayed Delivery Securities:** $2357364.40

**Cash Not Reported:** $103455.21

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 7.007090922000 | **1-Year:** 290.585846513368 | **5-Year:** 3360.542946517243 | **10-Year:** 5006.777708655521 | **30-Year:** 6890.798941464867

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

- **3-Month:** 45.500081922816 | **1-Year:** 666.969390505427 | **5-Year:** 4125.137350365551 | **10-Year:** 6291.039801960665 | **30-Year:** 6107.489070900540

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248863 | -0.29%               | 1.14%                | 2.55%                |
| Class ID C000248864 | -0.31%               | 1.12%                | 2.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $143958.78               | $-571739.30                                |
| Month 2  | $-7822.36                | $355103.73                                 |
| Month 3  | $-137993.30              | $1187745.61                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FIRST QUANTUM MINERALS L | First Quantum Minerals Ltd.                                                 | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |     260000 | PA      | $275509.00    | 0.47%             | 2029-03-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| FORD OTOMOTIV SANAYI AS  | Ford Otomotiv Sanayi A.S.                                                   | CUSIP: 345409AC0<br>LEI: 7890006XJG6ZE2H34671 | Long             | DBT              | CORP              | TR        |     320000 | PA      | $320080.00    | 0.55%             | 2029-04-25      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| FORTEBANK JSC            | ForteBank JSC                                                               | CUSIP: 34955XAB7<br>LEI: 529900TH5WJ6KE8N8Z35 | Long             | DBT              | CORP              | KZ        |     290000 | PA      | $288821.88    | 0.50%             | 2030-02-04      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| HTA GROUP LTD            | HTA Group Ltd./Mauritius                                                    | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |     290000 | PA      | $295829.00    | 0.51%             | 2029-06-04      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| IHS HOLDING LTD          | IHS Holding Ltd.                                                            | CUSIP: 44963HAC9<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |     550000 | PA      | $551204.50    | 0.94%             | 2030-05-29      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| INDIA VEHICLE FINANCE    | India Vehicle Finance                                                       | CUSIP: 45410KAA2<br>LEI: 254900FDW5H9JZP2A596 | Long             | DBT              | CORP              | MU        |     253800 | PA      | $253482.75    | 0.43%             | 2030-09-25      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF KENYA        | Republic of Kenya Government International Bond                             | CUSIP: 491798AN4<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     270000 | PA      | $253327.50    | 0.43%             | 2036-03-05      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| KINGSTON AIRPORT REV FIN | Kingston Airport Revenue Finance Ltd.                                       | CUSIP: 49647QAA6<br>LEI: 254900SK2YRR95AVHU30 | Long             | DBT              | CORP              | KY        |     400000 | PA      | $403500.00    | 0.69%             | 2036-12-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| KOOKMIN BANK             | Kookmin Bank                                                                | CUSIP: 500498AL4<br>LEI: 549300XXMOJSIW8P4769 | Long             | DBT              | CORP              | KR        |     490000 | PA      | $492004.10    | 0.84%             | 2028-05-08      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| KOOKMIN BANK             | Kookmin Bank                                                                | CUSIP: 500498AM2<br>LEI: 549300XXMOJSIW8P4769 | Long             | DBT              | CORP              | KR        |     325000 | PA      | $329654.00    | 0.56%             | 2030-05-08      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| LIMAK YENILENEBILIR      | Limak Yenilenebilir Enerji A.S.                                             | CUSIP: 53263MAA0<br>LEI: 789000WFO2FHRONHFN18 | Long             | DBT              | CORP              | TR        |     245000 | PA      | $242013.45    | 0.41%             | 2030-08-12      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| MUTHOOT FINANCE LTD      | Muthoot Finance Ltd.                                                        | CUSIP: 62828L2D4<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |     400000 | PA      | $398000.00    | 0.68%             | 2029-04-23      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| NEXA RESOURCES SA        | Nexa Resources S.A.                                                         | CUSIP: 65290DAB9<br>LEI: 549300QRMRHM7GAU7L47 | Long             | DBT              | CORP              | LU        |     275000 | PA      | $286343.75    | 0.49%             | 2034-04-09      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| POSCO HOLDINGS INC       | POSCO Holdings, Inc.                                                        | CUSIP: 693483AJ8<br>LEI: 988400E5HRVX81AYLM04 | Long             | DBT              | CORP              | KR        |     325000 | PA      | $329251.00    | 0.56%             | 2030-05-07      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| POSCO HOLDINGS INC       | POSCO Holdings, Inc.                                                        | CUSIP: 693483AK5<br>LEI: 988400E5HRVX81AYLM04 | Long             | DBT              | CORP              | KR        |     490000 | PA      | $506709.00    | 0.87%             | 2035-05-07      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS      | Petroleos Mexicanos                                                         | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     410000 | PA      | $297004.00    | 0.51%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES  | Philippine Government International Bond                                    | CUSIP: 718286CL9<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     890000 | PA      | $576608.75    | 0.99%             | 2045-12-10      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| STATE OF QATAR           | Qatar Government International Bond                                         | CUSIP: 74738PTP3<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |     840000 | PA      | $851449.20    | 1.46%             | 2034-05-29      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY | Uruguay Government International Bond                                       | CUSIP: 760942BD3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     810000 | PA      | $717660.00    | 1.23%             | 2055-04-20      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| SCOTIABANK PERU SA       | Scotiabank Peru S.A.A.                                                      | CUSIP: 80928HAB9<br>LEI: 5493001E54CPRG5J5Q41 | Long             | DBT              | CORP              | PE        |     390000 | PA      | $394719.00    | 0.68%             | 2035-10-01      | Variable      | 6.10%                 | Yes           |                  2 | On Loan: No      |
| SEPLAT ENERGY PLC        | SEPLAT Energy PLC                                                           | CUSIP: 81733MAA3<br>LEI: 029200711C4S4CB2E982 | Long             | DBT              | CORP              | NG        |     430000 | PA      | $426370.80    | 0.73%             | 2030-03-21      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF MONTENEGRO   | Montenegro Government International Bond                                    | CUSIP: 857305AA4<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |     350000 | PA      | $361921.00    | 0.62%             | 2031-03-12      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH      | Suzano Austria GmbH                                                         | CUSIP: 86964WAK8<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |     655000 | PA      | $574759.23    | 0.99%             | 2032-01-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| TELECOMMUNICATIONS CO TE | Telecommunications Co. Telekom Srbija AD Belgrade                           | CUSIP: 87945BAA8<br>LEI: 254900OVY0XI1DFYC092 | Long             | DBT              | CORP              | RS        |     400000 | PA      | $399150.00    | 0.68%             | 2029-10-28      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CORP ANDINA DE FOMENTO   | Corp Andina de Fomento                                                      | CUSIP: 219868CM6<br>LEI: UKZ46SXGNYCZK0UOZE76 | Long             | DBT              |  | XX        |     385000 | PA      | $389331.25    | 0.67%             | 2173-12-17      | Variable      | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CORP FINANCIERA DE DESAR | Corp Financiera de Desarrollo S.A.                                          | CUSIP: 21987DAH7<br>LEI: 254900BOM7T4MG6T0J30 | Long             | DBT              |  | PE        |     300000 | PA      | $303150.00    | 0.52%             | 2030-05-06      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF KAZAKHSTAN   | Kazakhstan Government International Bond                                    | CUSIP: 291477097<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |     650000 | PA      | $628078.75    | 1.08%             | 2035-04-09      | Fixed         | 4.71%                 | Yes           |                  2 | On Loan: No      |
| TRINIDAD & TOBAGO        | Trinidad & Tobago Government International Bond                             | CUSIP: 896292AM1<br>LEI: N/A                  | Long             | DBT              | NUSS              | TT        |     600000 | PA      | $589200.00    | 1.01%             | 2034-06-26      | Fixed         | 6.40%                 | Yes           |                  2 | On Loan: No      |
| TURKIYE GARANTI BANKASI  | Turkiye Garanti Bankasi A.S.                                                | CUSIP: 900148AH0<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |     975000 | PA      | $971709.38    | 1.67%             | 2036-01-08      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| TURK IHRACAT KR BK       | Turkiye Ihracat Kredi Bankasi A.S.                                          | CUSIP: 90015LAK3<br>LEI: 789000JVRVYLAXGDWR11 | Long             | DBT              |  | TR        |     260000 | PA      | $260512.64    | 0.45%             | 2028-07-03      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| TURKIYE SINAI KALKINMA B | Turkiye Sinai Kalkinma Bankasi A.S.                                         | CUSIP: 90015YAH2<br>LEI: 549300MFCXK5HOOEWP84 | Long             | DBT              | CORP              | TR        |     445000 | PA      | $443495.90    | 0.76%             | 2030-07-02      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| AES PANAMA GENERATION HL | AES Panama Generation Holdings SRL                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |     291660 | PA      | $265410.42    | 0.45%             | 2030-05-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR      | Ecuador Government International Bond                                       | CUSIP: 999999999<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     500000 | PA      | $363250.00    | 0.62%             | 2035-07-31      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO       | Morocco Government International Bond                                       | CUSIP: 999999999<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |     370000 | PA      | $251137.50    | 0.43%             | 2050-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CORPORACION INMOBILIARIA | Corp Inmobiliaria Vesta S.A.B. de C.V.                                      | CUSIP: 999999999<br>LEI: 4469000001BIRIFZJ959 | Long             | DBT              | CORP              | MX        |     330000 | PA      | $290750.63    | 0.50%             | 2031-05-13      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC | Greensaif Pipelines Bidco Sarl                                              | CUSIP: 999999999<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     630000 | PA      | $647718.75    | 1.11%             | 2038-02-23      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| EMIRATES NBD BANK PJSC   | Emirates NBD Bank PJSC                                                      | CUSIP: BP6224854<br>LEI: 54930029BCN8HF3B1286 | Long             | DBT              | CORP              | AE        |     300000 | PA      | $290531.25    | 0.50%             | 2172-11-27      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| ENFRAGEN ENERGIA SUR SA  | EnfraGen Energia Sur S.A. / EnfraGen Spain S.A. / Prime Energia S.p.A.      | CUSIP: 999999999<br>LEI: 2549002TO75PYMY3VY07 | Long             | DBT              | CORP              | ES        |     330000 | PA      | $294422.70    | 0.50%             | 2030-12-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| IVORY COAST              | Ivory Coast Government International Bond                                   | CUSIP: 999999999<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     430000 | PA      | $412533.40    | 0.71%             | 2037-01-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ROMANIA                  | Romanian Government International Bond                                      | CUSIP: 999999999<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     300000 | PA      | $293700.00    | 0.50%             | 2034-01-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT   | Egypt Government International Bond                                         | CUSIP: BN9715911<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     500000 | PA      | $440525.00    | 0.76%             | 2031-02-16      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS   | Galaxy Pipeline Assets Bidco Ltd.                                           | CUSIP: 999999999<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |     810000 | PA      | $628608.60    | 1.08%             | 2040-09-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN   | Republic of Uzbekistan International Bond                                   | CUSIP: 999999999<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     310000 | PA      | $272490.00    | 0.47%             | 2031-10-19      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO     | Saudi Arabian Oil Co.                                                       | CUSIP: 999999999<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    1000000 | PA      | $596250.00    | 1.02%             | 2070-11-24      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA             | Ecopetrol S.A.                                                              | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     350000 | PA      | $294525.00    | 0.50%             | 2031-11-02      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| OOREDOO INTL FINANCE     | Ooredoo International Finance Ltd.                                          | CUSIP: 999999999<br>LEI: 549300BHXCDJ03WU7N77 | Long             | DBT              | CORP              | BM        |     730000 | PA      | $655846.60    | 1.12%             | 2031-04-08      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| ABU DHABI NATIONAL ENERG | Abu Dhabi National Energy Co. PJSC                                          | CUSIP: 00388WAP6<br>LEI: 213800UNJSVQFNUYYW03 | Long             | DBT              | CORP              | AE        |     615000 | PA      | $587712.45    | 1.01%             | 2037-03-09      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| AFRICELL HOLDING LTD     | Africell Holding Ltd.                                                       | CUSIP: 00833NAA0<br>LEI: 984500JFB7AFK4B6C829 | Long             | DBT              | CORP              | JE        |     520000 | PA      | $503417.20    | 0.86%             | 2029-10-23      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| AKBANK TAS               | Akbank TAS                                                                  | CUSIP: 00971YAK6<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |     400000 | PA      | $407500.00    | 0.70%             | 2072-06-14      | Variable      | 9.37%                 | Yes           |                  2 | On Loan: No      |
| BAITEREK NATIONAL MANAGI | Baiterek National Managing Holding JSC                                      | CUSIP: 05709VAA2<br>LEI: 984500B4F78F04253804 | Long             | DBT              |  | KZ        |     325000 | PA      | $328490.50    | 0.56%             | 2028-05-08      | Fixed         | 5.45%                 | Yes           |                  2 | On Loan: No      |
| BANCO DAVIVIENDA SA      | Banco Davivienda S.A.                                                       | CUSIP: 059501AG1<br>LEI: 549300P161V4IPKAQS70 | Long             | DBT              | CORP              | CO        |     945000 | PA      | $950386.50    | 1.63%             | 2035-07-02      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK      | Bangkok Bank PCL/Hong Kong                                                  | CUSIP: 06000BAC6<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |     390000 | PA      | $404796.60    | 0.69%             | 2034-07-05      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK      | Bangkok Bank PCL/Hong Kong                                                  | CUSIP: 06000GAA9<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |     500000 | PA      | $499620.00    | 0.86%             | 2040-03-25      | Variable      | 6.06%                 | Yes           |                  2 | On Loan: No      |
| BANK GOSPODARSTWA KRAJOW | Bank Gospodarstwa Krajowego                                                 | CUSIP: 06237MAD5<br>LEI: 259400BCOV9JJIGLYF05 | Long             | DBT              |  | PL        |     640000 | PA      | $630476.80    | 1.08%             | 2054-07-09      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CHILE ELECTRICITY LUX    | Chile Electricity Lux Mpc II Sarl                                           | CUSIP: 16882LAA0<br>LEI: N/A                  | Long             | DBT              |  | LU        |     293252 | PA      | $293691.38    | 0.50%             | 2035-10-20      | Fixed         | 5.58%                 | Yes           |                  2 | On Loan: No      |
| AIA GROUP LTD            | AIA Group Ltd.                                                              | CUSIP: 00131MAP8<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | DBT              | CORP              | HK        |     260000 | PA      | $262623.40    | 0.45%             | 2033-04-04      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL            | United States Treasury Bill                                                 | CUSIP: 912797PE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    2700000 | PA      | $2695034.97   | 4.62%             | 2025-07-17      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES        | Vedanta Resources Finance II PLC                                            | CUSIP: 92243XAL5<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |     385000 | PA      | $383075.00    | 0.66%             | 2033-04-24      | Fixed         | 9.85%                 | Yes           |                  2 | On Loan: No      |
| WINDFALL MINING GROUP    | Windfall Mining Group, Inc. / Groupe Minier Windfall, Inc.                  | CUSIP: 973244AA4<br>LEI: 984500E4L49391BFF948 | Long             | DBT              | CORP              | CA        |     300000 | PA      | $305526.00    | 0.52%             | 2032-05-13      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA     | YPF S.A.                                                                    | CUSIP: 984245BB5<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |     300000 | PA      | $301740.00    | 0.52%             | 2034-01-17      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| YAPI VE KREDI BANKASI AS | Yapi ve Kredi Bankasi A.S.                                                  | CUSIP: 984848AU5<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | DBT              | CORP              | TR        |     430000 | PA      | $429247.50    | 0.74%             | 2030-03-03      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| YINSON BORONIA PRODUCTIO | Yinson Boronia Production B.V.                                              | CUSIP: 98584XAA3<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |     272574 | PA      | $288792.68    | 0.49%             | 2042-07-31      | Fixed         | 8.95%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF SENEGAL      | Senegal Government International Bond                                       | CUSIP: AN6331648<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |     340000 | PA      | $221340.00    | 0.38%             | 2033-05-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA | Republic of South Africa Government Bond                                    | CUSIP: 999999999<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   48160000 | PA      | $1835015.48   | 3.15%             | 2041-02-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND | Thailand Government Bond                                                    | CUSIP: 999999999<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    9090000 | PA      | $313722.83    | 0.54%             | 2031-06-20      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA     | Colombian TES                                                               | CUSIP: 999999999<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 3572800000 | PA      | $784918.43    | 1.35%             | 2028-04-28      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PANAMA       | Panama Government International Bond                                        | CUSIP: 698299BS2<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     690000 | PA      | $442893.75    | 0.76%             | 2063-01-19      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF AZERBAIJAN   | Republic of Azerbaijan International Bond                                   | CUSIP: 999999999<br>LEI: 549300P74FF45UQVU281 | Long             | DBT              | NUSS              | AZ        |     320000 | PA      | $287400.00    | 0.49%             | 2032-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF BAHRAIN       | Bahrain Government International Bond                                       | CUSIP: 999999999<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |     330000 | PA      | $323400.00    | 0.55%             | 2047-09-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN  | Pakistan Government International Bond                                      | CUSIP: 999999999<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     200000 | PA      | $189000.00    | 0.32%             | 2027-12-05      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP             | Yuzhou Group Holdings Co., Ltd.                                             | CUSIP: 999999999<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |    1000000 | PA      | $70000.00     | 0.12%             | 2026-02-04      | None          | 8.50%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HLDGS LTD   | Shimao Group Holdings Ltd.                                                  | CUSIP: 999999999<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |    1700000 | PA      | $85000.00     | 0.15%             | 2026-02-21      | None          | 6.12%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND  | Hungary Government Bond                                                     | CUSIP: 999999999<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |  240600000 | PA      | $604530.60    | 1.04%             | 2030-08-21      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DP WORLD LTD UAE         | DP World Ltd./United Arab Emirates                                          | CUSIP: 999999999<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |     340000 | PA      | $278906.25    | 0.48%             | 2049-09-30      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CIFI HOLDINGS GROUP      | CIFI Holdings Group Co., Ltd.                                               | CUSIP: 999999999<br>LEI: 549300WGKSV867C0JF48 | Long             | DBT              | CORP              | KY        |     700000 | PA      | $69650.00     | 0.12%             | 2026-03-28      | None          | 6.55%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC       | Dominican Republic International Bond                                       | CUSIP: 999999999<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     630000 | PA      | $598500.00    | 1.03%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND  | Romania Government Bond                                                     | CUSIP: 999999999<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    1110000 | PA      | $253121.71    | 0.43%             | 2026-04-22      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| FED REPUBLIC OF BRAZIL   | Brazilian Government International Bond                                     | CUSIP: 999999999<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     780000 | PA      | $547482.00    | 0.94%             | 2050-01-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO | OCP S.A.                                                                    | CUSIP: 999999999<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |     370000 | PA      | $280737.50    | 0.48%             | 2051-06-23      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| INDIA GREEN POWER HOLD   | India Green Power Holdings                                                  | CUSIP: 999999999<br>LEI: 254900I7N0GT4VVL6V29 | Long             | DBT              | CORP              | MU        |     285978 | PA      | $277041.19    | 0.47%             | 2027-02-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDOFOOD CBP SUKSES MAKM | Indofood CBP Sukses Makmur Tbk P.T.                                         | CUSIP: 999999999<br>LEI: 254900YKZW9GRKZZN285 | Long             | DBT              | CORP              | ID        |     780000 | PA      | $626340.00    | 1.07%             | 2051-06-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KAZMUNAYGAS NATIONAL CO  | KazMunayGas National Co. JSC                                                | CUSIP: 999999999<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |     325000 | PA      | $280517.25    | 0.48%             | 2033-04-14      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA    | Indonesia Government International Bond                                     | CUSIP: 455780CN4<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |     980000 | PA      | $731540.60    | 1.25%             | 2049-10-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| AXIATA SPV5 LABUAN LTD   | Axiata Spv5 Labuan Ltd.                                                     | CUSIP: 999999999<br>LEI: 2549002DHJ9LDV9BRC77 | Long             | DBT              | CORP              | MY        |     360000 | PA      | $240796.80    | 0.41%             | 2050-08-19      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND  | Turkiye Government Bond                                                     | CUSIP: 999999999<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    9770000 | PA      | $229326.74    | 0.39%             | 2025-10-01      | Fixed         | 12.60%                | No            |                  2 | On Loan: No      |
| UZAUTO MOTORS AJ         | Uzauto Motors AJ                                                            | CUSIP: 999999999<br>LEI: 25490082QA3E2MKBZI88 | Long             | DBT              | CORP              | UZ        |     300000 | PA      | $294468.00    | 0.50%             | 2026-05-04      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| FIN DEPT GOVT SHARJAH    | Finance Department Government of Sharjah                                    | CUSIP: 999999999<br>LEI: 254900ZNL8O3F1CLJO24 | Long             | DBT              | NUSS              | AE        |     400000 | PA      | $253768.00    | 0.43%             | 2050-07-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENGIZCHEVROIL FIN CO IN | Tengizchevroil Finance Co. International Ltd.                               | CUSIP: 999999999<br>LEI: 5493001VEV2XTJIBZH31 | Long             | DBT              | CORP              | BM        |     380000 | PA      | $335160.00    | 0.57%             | 2030-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| KOSMOS ENERGY LTD        | Kosmos Energy Ltd.                                                          | CUSIP: U5007TAB1<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |     380000 | PA      | $313120.00    | 0.54%             | 2028-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN RSC LTD        | MDGH GMTN RSC Ltd.                                                          | CUSIP: 999999999<br>LEI: 213800WRY6FRL9IXLT77 | Long             | DBT              | CORP              | AE        |     840000 | PA      | $745344.60    | 1.28%             | 2031-06-03      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| LOGAN GROUP CO LTD       | Logan Group Co., Ltd.                                                       | CUSIP: 999999999<br>LEI: 549300NJ0E6Q0S1VOG90 | Long             | DBT              | CORP              | KY        |     250000 | PA      | $17187.50     | 0.03%             | 2025-10-19      | None          | 5.25%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND | Thailand Government Bond                                                    | CUSIP: 999999999<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |   17500000 | PA      | $588298.40    | 1.01%             | 2052-06-17      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| GCC SAB DE CV            | GCC S.A.B. de C.V.                                                          | CUSIP: 999999999<br>LEI: 254900WY9XL8033CKX68 | Long             | DBT              | CORP              | MX        |     595000 | PA      | $521178.35    | 0.89%             | 2032-04-20      | Fixed         | 3.61%                 | No            |                  2 | On Loan: No      |
| MEGLOBAL BV              | MEGlobal B.V.                                                               | CUSIP: 999999999<br>LEI: 549300WBVLU2FILR7W19 | Long             | DBT              | CORP              | NL        |     630000 | PA      | $592722.90    | 1.02%             | 2028-04-28      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD     | Petronas Capital Ltd.                                                       | CUSIP: 999999999<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    1050000 | PA      | $684757.50    | 1.17%             | 2061-04-28      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| QATAR ENERGY             | QatarEnergy                                                                 | CUSIP: 999999999<br>LEI: 254900QTESJKJ3P87J26 | Long             | DBT              | CORP              | QA        |     900000 | PA      | $607612.50    | 1.04%             | 2051-07-12      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA      | Nigeria Government International Bond                                       | CUSIP: 999999999<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     350000 | PA      | $312900.00    | 0.54%             | 2033-09-28      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| COLOMBIAN PESOS  /       | COLOMBIAN PESOS  /                                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | CO        |      20756 | OU      | $5.08         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| COUNTRY GARDEN HLDGS     | Country Garden Holdings Co., Ltd.                                           | CUSIP: G24524BM4<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |     800000 | PA      | $58000.00     | 0.10%             | 2031-01-12      | None          | 3.30%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE | Banco Mercantil del Norte S.A./Grand Cayman                                 | CUSIP: BS5321853<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |     700000 | PA      | $644700.00    | 1.10%             | 2072-01-24      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| JSW STEEL LTD            | JSW Steel Ltd.                                                              | CUSIP: 999999999<br>LEI: 335800EK6HZSC4CVAJ09 | Long             | DBT              | CORP              | IN        |     360000 | PA      | $331650.00    | 0.57%             | 2032-04-05      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES | Banco de Credito e Inversiones S.A.                                         | CUSIP: 999999999<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |     300000 | PA      | $300262.50    | 0.51%             | 2172-12-12      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND | Saudi Government International Bond                                         | CUSIP: 999999999<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |     390000 | PA      | $371338.50    | 0.64%             | 2054-01-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND | Saudi Government International Bond                                         | CUSIP: 999999999<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |     630000 | PA      | $630173.25    | 1.08%             | 2034-01-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GACI FIRST INVESTMENT    | Gaci First Investment Co.                                                   | CUSIP: 999999999<br>LEI: 558600TU1PWGNLZ3XM88 | Long             | DBT              | CORP              | KY        |     800000 | PA      | $660000.00    | 1.13%             | 2122-10-13      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BBVA BANCOMER SA TEXAS   | BBVA Mexico S.A. Institucion De Banca Multiple Grupo Financiero BBVA Mexico | CUSIP: 999999999<br>LEI: 549300WIWQK5Q9MCUN92 | Long             | DBT              | CORP              | MX        |     280000 | PA      | $289590.00    | 0.50%             | 2039-01-08      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| ACCESS BANK PLC          | Access Bank PLC                                                             | CUSIP: BR4466594<br>LEI: 029200328C3N9YI2D660 | Long             | DBT              | CORP              | NG        |     300000 | PA      | $292500.00    | 0.50%             | 2026-09-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA        | Ghana Government International Bond                                         | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     234840 | PA      | $181613.51    | 0.31%             | 2035-07-03      | Variable      | 5.00%                 | Yes           |                  2 | On Loan: No      |
| RIZAL COMMERCIAL BANKING | Rizal Commercial Banking Corp.                                              | CUSIP: 999999999<br>LEI: CIKZWI6KV077KV2E2J69 | Long             | DBT              | CORP              | PH        |     280000 | PA      | $285815.60    | 0.49%             | 2029-01-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MAGYAR EXPORT-IMPORT BAN | Magyar Export-Import Bank Zrt                                               | CUSIP: 999999999<br>LEI: 529900O4UGETQ9Q3AA63 | Long             | DBT              |  | HU        |     300000 | PA      | $305814.00    | 0.52%             | 2027-12-04      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND | Thailand Government Bond                                                    | CUSIP: Y603CLBS2<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |   16900000 | PA      | $592769.50    | 1.02%             | 2045-06-17      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE     | Raizen Fuels Finance S.A.                                                   | CUSIP: L7909CAE7<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |     300000 | PA      | $280875.00    | 0.48%             | 2035-01-17      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| TURKIYE SINAI KALKINMA B | Turkiye Sinai Kalkinma Bankasi A.S.                                         | CUSIP: 999999999<br>LEI: 549300MFCXK5HOOEWP84 | Long             | DBT              | CORP              | TR        |     260000 | PA      | $264396.60    | 0.45%             | 2072-09-21      | Variable      | 9.75%                 | No            |                  2 | On Loan: No      |
| MAGELLAN CAPITAL HOLD    | Magellan Capital Holdings PLC                                               | CUSIP: YX9531634<br>LEI: 254900YN2K3DJ8B72Q22 | Long             | DBT              | CORP              | GB        |     280000 | PA      | $275800.00    | 0.47%             | 2029-07-08      | Variable      | 8.38%                 | No            |                  2 | On Loan: No      |
| LA CONSTRUCCION SA       | Inversiones La Construccion S.A.                                            | CUSIP: BU0137564<br>LEI: 254900IMQ8BOPW9UKX13 | Long             | DBT              | CORP              | CL        |     305000 | PA      | $283650.00    | 0.49%             | 2032-02-07      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT  | Mexican Bonos                                                               | CUSIP: 999999999<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   28570000 | PA      | $1498568.02   | 2.57%             | 2026-03-05      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA       | Angolan Government International Bond                                       | CUSIP: 999999999<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     260000 | PA      | $245505.00    | 0.42%             | 2028-05-09      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS    | Bonos de la Tesoreria de la Republica en pesos                              | CUSIP: 999999999<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |  550000000 | PA      | $571731.50    | 0.98%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KWG GROUP HOLDINGS       | KWG Group Holdings Ltd.                                                     | CUSIP: 999999999<br>LEI: 549300LK82ZOM9ZE7H90 | Long             | DBT              | CORP              | KY        |     400000 | PA      | $26000.00     | 0.04%             | 2025-08-10      | None          | 5.95%                 | No            |                  2 | On Loan: No      |
| BIDVEST GROUP UK PLC     | Bidvest Group UK PLC                                                        | CUSIP: 999999999<br>LEI: 984500A80C777F496830 | Long             | DBT              | CORP              | GB        |     230000 | PA      | $225400.00    | 0.39%             | 2026-09-23      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC           | Czech Republic Government Bond                                              | CUSIP: 999999999<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |   25210000 | PA      | $1117604.50   | 1.92%             | 2033-03-03      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CODELCO INC              | Corp Nacional del Cobre de Chile                                            | CUSIP: P3143NBM5<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     410000 | PA      | $248788.00    | 0.43%             | 2051-01-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA    | Guatemala Government Bond                                                   | CUSIP: P5015VAN6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     320000 | PA      | $254136.00    | 0.44%             | 2041-10-07      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY     | Paraguay Government International Bond                                      | CUSIP: P75744AK1<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     360000 | PA      | $306633.60    | 0.53%             | 2033-01-29      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| THAI BAHT  /             | THAI BAHT  /                                                                | CUSIP: 999999999<br>LEI: N/A                  | Short            | STIV             |  | TH        |         -0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF SRI LANKA    | Sri Lanka Government International Bond                                     | CUSIP: YS0724148<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     430000 | PA      | $350288.75    | 0.60%             | 2038-02-15      | Variable      | 3.60%                 | Yes           |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT       | Ukraine Government International Bond                                       | CUSIP: YV4644170<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     380000 | PA      | $177650.00    | 0.30%             | 2036-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| MUANGTHAI CAPITAL PCL    | Muangthai Capital PCL                                                       | CUSIP: YV7999126<br>LEI: 254900ZI1FO2W9132C98 | Long             | DBT              | CORP              | TH        |     280000 | PA      | $278250.00    | 0.48%             | 2028-09-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MANAPPURAM FINANCE LTD   | Manappuram Finance Ltd.                                                     | CUSIP: ZB7473281<br>LEI: 335800JL5WTUSKOSPN77 | Long             | DBT              | CORP              | IN        |     300000 | PA      | $303531.00    | 0.52%             | 2028-05-12      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL | Brazil Notas do Tesouro Nacional Serie F                                    | CUSIP: ZP2084801<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      13930 | PA      | $2235599.86   | 3.83%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-07

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

**Signature:** /s/ Maureen Quill

**Name of Signer:** Maureen Quill

**Title:** President