# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001193125-26-076024
**Filing Date:** 2026-2
**Character Count:** 58136
**Document Hash:** 9d0a1ea93559c2244519e2d64eb14898
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-076024.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001193125-26-076024

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**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:** 26686606

**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:** 2025-12-31

**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:** $59078455.38

**Total Liabilities:** $139486.08

**Net Assets:** $58938969.30

**Cash Not Reported:** $2205546.21

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 12.160061100000 | **1-Year:** 217.759389960105 | **5-Year:** 3264.325478154459 | **10-Year:** 6111.123981232508 | **30-Year:** 7250.616406218927

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

- **3-Month:** 23.676128892000 | **1-Year:** 527.985549426498 | **5-Year:** 3632.337580422037 | **10-Year:** 6848.445269192069 | **30-Year:** 6472.315278399196

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248863 | 0.81%                | 0.60%                | 0.61%                |
| Class ID C000248864 | 0.69%                | 0.67%                | 0.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $135800.46               | $64345.55                                  |
| Month 2  | $42718.32                | $92619.94                                  |
| Month 3  | $-101435.99              | $39946.03                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHILE ELECTRICITY LUX                 | Chile Electricity Lux Mpc II Sarl                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              |  | LU        |     244376 | PA      | $251556.02    | 0.43%             | 2035-10-20      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                     | Ghana Government International Bond                        | CUSIP: 999999999<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     340000 | PA      | $188867.18    | 0.32%             | 2037-01-03      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| RIZAL COMMERCIAL BANKING              | Rizal Commercial Banking Corp.                             | CUSIP: 999999999<br>LEI: CIKZWI6KV077KV2E2J69 | Long             | DBT              | CORP              | PH        |     280000 | PA      | $288050.00    | 0.49%             | 2029-01-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT              | Shimao Group Holdings Ltd.                                 | CUSIP: 999999999<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |     149502 | PA      | $4186.06      | 0.01%             | 2026-07-21      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| YUZHOU GROUP                          | Yuzhou Group Holdings Co., Ltd.                            | CUSIP: 999999999<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |      78840 | PA      | $7790.18      | 0.01%             | 2027-06-30      | None          | 7.00%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                          | Yuzhou Group Holdings Co., Ltd.                            | CUSIP: 999999999<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |     116397 | PA      | $2386.14      | 0.00%             | 2029-06-30      | None          | 4.50%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                          | Yuzhou Group Holdings Co., Ltd.                            | CUSIP: 999999999<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |      66843 | PA      | $1336.86      | 0.00%             | 2028-06-30      | None          | 4.00%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                          | Yuzhou Group Holdings Co., Ltd.                            | CUSIP: 999999999<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |     155361 | PA      | $3184.90      | 0.01%             | 2030-06-30      | None          | 5.00%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                          | Yuzhou Group Holdings Co., Ltd.                            | CUSIP: 999999999<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |     217936 | PA      | $2443.06      | 0.00%             | 2031-06-30      | None          | 5.50%                 | No            |                  2 | On Loan: No      |
| KAZMUNAYGAS NATIONAL CO               | KazMunayGas National Co. JSC                               | CUSIP: 999999999<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |     325000 | PA      | $293211.75    | 0.50%             | 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      | $748475.00    | 1.27%             | 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      | $252536.40    | 0.43%             | 2050-08-19      | Fixed         | 3.06%                 | 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      | $267904.00    | 0.45%             | 2050-07-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S              | Petroleos de Venezuela S.A.                                | CUSIP: 999999999<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |     850000 | PA      | $197625.00    | 0.34%             | 2026-05-16      | None          | 6.00%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                          | Yuzhou Group Holdings Co., Ltd.                            | CUSIP: 999999999<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |      91789 | PA      | $114.74       | 0.00%             | 2034-06-30      | None          | 1.00%                 | No            |                  2 | On Loan: No      |
| BULGARIA                              | Bulgaria Government International Bond                     | CUSIP: 999999999<br>LEI: 529900PG0XCL4LICL838 | Long             | DBT              | NUSS              | BG        |     270000 | PA      | $268110.00    | 0.45%             | 2037-03-05      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA                               | Romanian Government International Bond                     | CUSIP: 999999999<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     300000 | PA      | $312093.00    | 0.53%             | 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      | $499520.00    | 0.85%             | 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      | $661219.20    | 1.12%             | 2040-09-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| IPOTEKA-BANK ATIB                     | Ipoteka-Bank ATIB                                          | CUSIP: 999999999<br>LEI: 213800UWVX5JSNXJS434 | Long             | DBT              | CORP              | UZ        |     560000 | PA      | $559328.00    | 0.95%             | 2030-10-09      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| CORP FINANCIERA DE DESAR              | Corp Financiera de Desarrollo S.A.                         | CUSIP: 999999999<br>LEI: 254900BOM7T4MG6T0J30 | Long             | DBT              |  | PE        |     250000 | PA      | $256875.00    | 0.44%             | 2030-05-06      | Fixed         | 5.50%                 | No            |                  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      | $312750.00    | 0.53%             | 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      | $305700.00    | 0.52%             | 2034-01-17      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| YINSON BORONIA PRODUCTIO              | Yinson Boronia Production B.V.                             | CUSIP: 98584XAA3<br>LEI: 5493007X12FTT746N678 | Long             | DBT              | CORP              | NL        |     269800 | PA      | $294317.80    | 0.50%             | 2042-07-31      | Fixed         | 8.95%                 | Yes           |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT               | Mexican Bonos                                              | CUSIP: 999999999<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    9052500 | PA      | $534786.21    | 0.91%             | 2036-11-20      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA              | Republic of South Africa Government Bond                   | CUSIP: 999999999<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   44560000 | PA      | $2139067.82   | 3.63%             | 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        |   17630000 | PA      | $627080.72    | 1.06%             | 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        | 3072800000 | PA      | $709202.49    | 1.20%             | 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      | $513192.12    | 0.87%             | 2063-01-19      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                | Oman Government International Bond                         | CUSIP: 999999999<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |     460000 | PA      | $464342.40    | 0.79%             | 2027-03-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF AZERBAIJAN                | Republic of Azerbaijan International Bond                  | CUSIP: 999999999<br>LEI: 549300P74FF45UQVU281 | Long             | DBT              | NUSS              | AZ        |     320000 | PA      | $300700.80    | 0.51%             | 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      | $338439.75    | 0.57%             | 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      | $201625.00    | 0.34%             | 2027-12-05      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND               | Hungary Government Bond                                    | CUSIP: 999999999<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |  210600000 | PA      | $559337.60    | 0.95%             | 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      | $293568.75    | 0.50%             | 2049-09-30      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                    | Dominican Republic International Bond                      | CUSIP: 999999999<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     630000 | PA      | $616199.09    | 1.05%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FED REPUBLIC OF BRAZIL                | Brazilian Government International Bond                    | CUSIP: 999999999<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     780000 | PA      | $566670.00    | 0.96%             | 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      | $305164.90    | 0.52%             | 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      | $278828.55    | 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      | $669583.20    | 1.14%             | 2051-06-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KOSMOS ENERGY LTD                     | Kosmos Energy Ltd.                                         | CUSIP: U5007TAB1<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |     380000 | PA      | $254600.00    | 0.43%             | 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      | $764929.20    | 1.30%             | 2031-06-03      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MEGLOBAL BV                           | MEGlobal B.V.                                              | CUSIP: 999999999<br>LEI: 549300WBVLU2FILR7W19 | Long             | DBT              | CORP              | NL        |     630000 | PA      | $604800.00    | 1.03%             | 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      | $712981.50    | 1.21%             | 2061-04-28      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| KWG GROUP HOLDINGS                    | KWG Group Holdings Ltd.                                    | CUSIP: 999999999<br>LEI: 549300LK82ZOM9ZE7H90 | Long             | DBT              | CORP              | KY        |     400000 | PA      | $18000.00     | 0.03%             | 2027-08-10      | None          | 5.95%                 | No            |                  2 | On Loan: No      |
| ROMANIA GOVERNMENT BOND               | Romania Government Bond                                    | CUSIP: 999999999<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    2555000 | PA      | $555767.17    | 0.94%             | 2029-07-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                | Republic of Poland Government Bond                         | CUSIP: 999999999<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    6325000 | PA      | $1483212.50   | 2.52%             | 2032-04-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC                        | Czech Republic Government Bond                             | CUSIP: 999999999<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |   23560000 | PA      | $1050351.91   | 1.78%             | 2033-03-03      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AES PANAMA GENERATION HL              | AES Panama Generation Holdings SRL                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |     289388 | PA      | $270346.11    | 0.46%             | 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        |     360000 | PA      | $317160.00    | 0.54%             | 2035-07-31      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| TURKIYE GARANTI BANKASI               | Turkiye Garanti Bankasi A.S.                               | CUSIP: 900148AH0<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |     300000 | PA      | $311271.00    | 0.53%             | 2036-01-08      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| TURKIYE IS BANKASI A.S                | Turkiye Is Bankasi A.S.                                    | CUSIP: 900151AN1<br>LEI: 789000FIRX9MDN0KTM91 | Long             | DBT              | CORP              | TR        |     485000 | PA      | $486212.50    | 0.82%             | 2036-04-02      | Variable      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                    | Morocco Government International Bond                      | CUSIP: 999999999<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |     370000 | PA      | $269408.10    | 0.46%             | 2050-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC              | Greensaif Pipelines Bidco Sarl                             | CUSIP: 999999999<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     630000 | PA      | $669667.95    | 1.14%             | 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      | $292980.00    | 0.50%             | 2172-11-27      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| TURK IHRACAT KR BK                    | Turkiye Ihracat Kredi Bankasi A.S.                         | CUSIP: 90015LAK3<br>LEI: 789000JVRVYLAXGDWR11 | Long             | DBT              |  | TR        |     260000 | PA      | $268450.00    | 0.46%             | 2028-07-03      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| TREASURY BILL                         | United States Treasury Bill                                | CUSIP: 912797RT6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1850000 | PA      | $1842433.50   | 3.13%             | 2026-02-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                 | Guatemala Government Bond                                  | CUSIP: P5015VAN6<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     320000 | PA      | $275600.00    | 0.47%             | 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      | $321840.00    | 0.55%             | 2033-01-29      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| ULTRA LONG T-BOND FUTURE MAR 2026   / | ULTRA LONG T-BOND FUTURE MAR 2026   /                      | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DIR              |  | US        |        -13 | NC      | $28514.34     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF SRI LANKA                 | Sri Lanka Government International Bond                    | CUSIP: YS0724148<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     220000 | PA      | $199650.00    | 0.34%             | 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        |     330000 | PA      | $185625.00    | 0.31%             | 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      | $283500.00    | 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      | $305250.00    | 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        |      12830 | PA      | $2059525.51   | 3.49%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| KOOKMIN BANK                          | Kookmin Bank                                               | CUSIP: 500498AL4<br>LEI: 549300XXMOJSIW8P4769 | Long             | DBT              | CORP              | KR        |     490000 | PA      | $494659.90    | 0.84%             | 2028-05-08      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| MONTEGO BAY AIRPORT REVE              | Montego Bay Airport Revenue Finance Ltd.                   | CUSIP: 61238BAA9<br>LEI: 2549008BQQ5ON8H2UC19 | Long             | DBT              | CORP              | KY        |     200000 | PA      | $199688.00    | 0.34%             | 2035-06-15      | Fixed         | 6.60%                 | Yes           |                  2 | On Loan: No      |
| MUTHOOT FINANCE LTD                   | Muthoot Finance Ltd.                                       | CUSIP: 62828L2D4<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |     400000 | PA      | $405500.00    | 0.69%             | 2029-04-23      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| NBK TIER 1 LTD                        | NBK Tier 1 Ltd.                                            | CUSIP: 62879NAB3<br>LEI: 5493000G4QCCEE8YHF19 | Long             | DBT              | CORP              | AE        |     530000 | PA      | $542232.40    | 0.92%             | 2174-01-10      | Variable      | 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      | $293218.75    | 0.50%             | 2034-04-09      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| POSCO HOLDINGS INC                    | POSCO Holdings, Inc.                                       | CUSIP: 693483AK5<br>LEI: 988400E5HRVX81AYLM04 | Long             | DBT              | CORP              | KR        |     490000 | PA      | $512995.70    | 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        |     790000 | PA      | $647958.00    | 1.10%             | 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      | $589958.75    | 1.00%             | 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      | $871340.40    | 1.48%             | 2034-05-29      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| QIC CAYMAN LTD                        | QIC Cayman Ltd.                                            | CUSIP: 999999999<br>LEI: 549300ZO9661UN55F475 | Long             | DBT              | CORP              | KY        |     550000 | PA      | $559240.19    | 0.95%             | 2072-07-07      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| LA CONSTRUCCION SA                    | Inversiones La Construccion S.A.                           | CUSIP: BU0137564<br>LEI: 254900IMQ8BOPW9UKX13 | Long             | DBT              | CORP              | CL        |     305000 | PA      | $293754.65    | 0.50%             | 2032-02-07      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UZBEK INDUSTRIAL AND CON              | Uzbek Industrial and Construction Bank ATB                 | CUSIP: 917935AC2<br>LEI: 213800C2NIFPFTXYIU69 | Long             | DBT              | CORP              | UZ        |     325000 | PA      | $326829.75    | 0.55%             | 2072-10-23      | Variable      | 9.45%                 | Yes           |                  2 | On Loan: No      |
| CIFI HOLDINGS GROUP                   | CIFI Holdings Group Co., Ltd.                              | CUSIP: 999999999<br>LEI: 549300WGKSV867C0JF48 | Long             | DBT              | CORP              | KY        |     249676 | PA      | $16453.65     | 0.03%             | 2027-06-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT               | Mexican Bonos                                              | CUSIP: 999999999<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   27400000 | PA      | $1517700.57   | 2.58%             | 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      | $261153.00    | 0.44%             | 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        |  495000000 | PA      | $545214.50    | 0.93%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLOMBIAN PESOS  /                    | COLOMBIAN PESOS  /                                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | CO        |      20948 | OU      | $5.55         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO FORWARD CONTRACT 03/18/26   /    | EURO FORWARD CONTRACT 03/18/26   /                         | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | XX        |    -494000 | OU      | $-582676.73   | -0.99%            |  |  |  | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS                  | Country Garden Holdings Co., Ltd.                          | CUSIP: G24524BM4<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |     240000 | PA      | $21588.00     | 0.04%             | 2031-01-12      | None          | 3.30%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                | Republic of Uzbekistan International Bond                  | CUSIP: 999999999<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     310000 | PA      | $285615.40    | 0.48%             | 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      | $631560.00    | 1.07%             | 2070-11-24      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MC BRAZIL DWNSTRM                     | MC Brazil Downstream Trading SARL                          | CUSIP: 999999999<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |     182442 | PA      | $159864.60    | 0.27%             | 2031-06-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                          | Ecopetrol S.A.                                             | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     310000 | PA      | $276132.50    | 0.47%             | 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      | $673103.80    | 1.14%             | 2031-04-08      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND              | Thailand Government Bond                                   | CUSIP: 999999999<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |   15500000 | PA      | $528281.62    | 0.90%             | 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      | $553272.65    | 0.94%             | 2032-04-20      | Fixed         | 3.61%                 | No            |                  2 | On Loan: No      |
| QATAR ENERGY                          | QatarEnergy                                                | CUSIP: 999999999<br>LEI: 254900QTESJKJ3P87J26 | Long             | DBT              | CORP              | QA        |     900000 | PA      | $630072.00    | 1.07%             | 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      | $355075.00    | 0.60%             | 2033-09-28      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| RIYAD TIER 1 SUKUK                    | Riyad Tier 1 Sukuk Ltd.                                    | CUSIP: G7576QAA2<br>LEI: 5493000887R2TI3PUB86 | Long             | DBT              | CORP              | KY        |     280000 | PA      | $272361.60    | 0.46%             | 2072-02-16      | Variable      | 4.00%                 | 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        |     350000 | PA      | $343171.50    | 0.58%             | 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      | $351450.00    | 0.60%             | 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      | $318468.00    | 0.54%             | 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      | $386100.00    | 0.66%             | 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      | $642729.15    | 1.09%             | 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      | $700000.00    | 1.19%             | 2122-10-13      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AIA GROUP LTD                         | AIA Group Ltd.                                             | CUSIP: 00131MAP8<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | DBT              | CORP              | HK        |     260000 | PA      | $268208.20    | 0.46%             | 2033-04-04      | Fixed         | 4.95%                 | 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      | $603087.45    | 1.02%             | 2037-03-09      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| AFRICAN DEVELOPMENT BANK              | African Development Bank                                   | CUSIP: 008281BK2<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              |  | XX        |     400000 | PA      | $399500.00    | 0.68%             | 2125-09-30      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| INDIA VEHICLE FINANCE                 | India Vehicle Finance                                      | CUSIP: 45410KAA2<br>LEI: 254900FDW5H9JZP2A596 | Long             | DBT              | CORP              | MU        |     237600 | PA      | $240565.25    | 0.41%             | 2030-09-25      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| UZAUTO MOTORS AJ                      | Uzauto Motors AJ                                           | CUSIP: 46653NAB8<br>LEI: 25490082QA3E2MKBZI88 | Long             | DBT              | CORP              | UZ        |     270000 | PA      | $270213.14    | 0.46%             | 2030-11-19      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                     | Republic of Kenya Government International Bond            | CUSIP: 491798AQ7<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     270000 | PA      | $272968.19    | 0.46%             | 2038-10-09      | Fixed         | 8.80%                 | 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      | $410124.00    | 0.70%             | 2036-12-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY              | Uruguay Government International Bond                      | CUSIP: 760942BD3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     810000 | PA      | $736695.00    | 1.25%             | 2055-04-20      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF MONTENEGRO                | Montenegro Government International Bond                   | CUSIP: 857305AA4<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |     350000 | PA      | $373516.50    | 0.63%             | 2031-03-12      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT              | Suriname Government International Bond                     | CUSIP: 86886PAF9<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |     455000 | PA      | $491513.75    | 0.83%             | 2035-11-06      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| HONG KONG DOLLAR  /                   | HONG KONG DOLLAR  /                                        | CUSIP: 999999999<br>LEI: N/A                  | Short            | STIV             |  | HK        |      -3286 | OU      | $-422.25      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BRASKEM NETHERLANDS                   | Braskem Netherlands Finance B.V.                           | CUSIP: N15516AD4<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |     230000 | PA      | $88481.00     | 0.15%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR               | El Salvador Government International Bond                  | CUSIP: P01012CA2<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     250000 | PA      | $229537.50    | 0.39%             | 2050-01-20      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                           | Corp Nacional del Cobre de Chile                           | CUSIP: P3143NBM5<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     410000 | PA      | $265887.05    | 0.45%             | 2051-01-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                 | Argentine Republic Government International Bond           | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     720000 | PA      | $535680.00    | 0.91%             | 2035-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK                   | Bangkok Bank PCL/Hong Kong                                 | CUSIP: 059895AZ5<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |     605000 | PA      | $604340.55    | 1.03%             | 2035-11-26      | Fixed         | 5.08%                 | 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      | $406968.90    | 0.69%             | 2034-07-05      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| BANK GOSPODARSTWA KRAJOW              | Bank Gospodarstwa Krajowego                                | CUSIP: 06237MAD5<br>LEI: 259400BCOV9JJIGLYF05 | Long             | DBT              |  | PL        |     640000 | PA      | $661292.80    | 1.12%             | 2054-07-09      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BANQUE OUEST AFRICAINE D              | Banque Ouest Africaine de Developpement                    | CUSIP: 999999999<br>LEI: 529900LIZJABE4JJS826 | Long             | DBT              |  | XX        |     495000 | PA      | $570102.24    | 0.97%             | 2040-10-14      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BIDVEST GROUP UK PLC                  | Bidvest Group UK PLC                                       | CUSIP: 088932AA6<br>LEI: 984500A80C777F496830 | Long             | DBT              | CORP              | GB        |     350000 | PA      | $355140.63    | 0.60%             | 2032-09-17      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| Yuzhou Group Holdings Co Ltd          | Yuzhou Group Holdings Co., Ltd.                            | CUSIP: 999999999<br>LEI: 213800MP59KHGJSPHE82 | Long             | EC               | CORP              | CN        |      75564 | NS      | $1019.47      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF COLOMBIA                  | Colombia Government International Bond                     | CUSIP: 195325DS1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     300000 | PA      | $260250.00    | 0.44%             | 2031-04-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| CORPORACION INMOBILIARIA              | Corp Inmobiliaria Vesta S.A.B. de C.V.                     | CUSIP: 21989DAB8<br>LEI: 4469000001BIRIFZJ959 | Long             | DBT              | CORP              | MX        |     415000 | PA      | $418990.23    | 0.71%             | 2033-01-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| EMBRAER NETHERLANDS FINA              | Embraer Netherlands Finance B.V.                           | CUSIP: 29082HAF9<br>LEI: 724500PBR8LR26XBSP67 | Long             | DBT              | CORP              | NL        |     415000 | PA      | $408982.50    | 0.69%             | 2038-01-09      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KAZAKHSTAN                | Kazakhstan Government International Bond                   | CUSIP: 291477097<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |     280000 | PA      | $277900.00    | 0.47%             | 2035-04-09      | Fixed         | 4.71%                 | Yes           |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT              | Shimao Group Holdings Ltd.                                 | CUSIP: 304709103<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     185214 | PA      | $5074.86      | 0.01%             | 2032-07-21      | None          | 2.00%                 | Yes           |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT              | Shimao Group Holdings Ltd.                                 | CUSIP: 304711400<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     277821 | PA      | $6945.53      | 0.01%             | 2033-07-21      | None          | 2.00%                 | Yes           |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT              | Shimao Group Holdings Ltd.                                 | CUSIP: 304712155<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     277821 | PA      | $5556.42      | 0.01%             | 2034-01-21      | None          | 2.00%                 | Yes           |                  2 | On Loan: No      |
| FIBRA PROLOGIS                        | FIBRA Prologis                                             | CUSIP: 31575KAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |     470000 | PA      | $471586.25    | 0.80%             | 2035-11-26      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L              | First Quantum Minerals Ltd.                                | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |     260000 | PA      | $273780.00    | 0.46%             | 2029-03-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| HTA GROUP LTD                         | HTA Group Ltd./Mauritius                                   | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |     290000 | PA      | $299970.20    | 0.51%             | 2029-06-04      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| KINGDOM OF JORDAN                     | Jordan Government International Bond                       | CUSIP: 418097AP6<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |     480000 | PA      | $472051.20    | 0.80%             | 2032-11-12      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| IHS HOLDING LTD                       | IHS Holding Ltd.                                           | CUSIP: 44963HAC9<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |     275000 | PA      | $282755.00    | 0.48%             | 2030-05-29      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| BRAZILIAN REAL  /                     | BRAZILIAN REAL  /                                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | BR        |     626218 | OU      | $114277.45    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT              | Shimao Group Holdings Ltd.                                 | CUSIP: 304708310<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |    1011822 | PA      | $32884.22     | 0.06%             | 2031-07-21      | None          | 5.00%                 | Yes           |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND              | Thailand Government Bond                                   | CUSIP: Y603CLBS2<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |   15100000 | PA      | $531160.05    | 0.90%             | 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      | $232407.00    | 0.39%             | 2035-01-17      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-07

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

**Signature:** /s/ Maureen Quill

**Name of Signer:** Maureen Quill

**Title:** President