# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001193125-26-241581
**Filing Date:** 2026-5
**Character Count:** 72169
**Document Hash:** ff27fc664c0d16afe9a90cbb2c5c716e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-241581.hdr.sgml**: 20260527

**ACCESSION NUMBER**: 0001193125-26-241581

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260527

**DATE AS OF CHANGE**: 20260527

**PERIOD START**: 20261231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21719
- **FILM NUMBER:** 261025458

**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           |

## Nport-Ex

**Gramercy Emerging Markets Debt Fund**

**SCHEDULE OF INVESTMENTS**

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

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **COMMON STOCKS — 0.0%** |  |
|  | **CHINA — 0.0%** |  |
| 75564 | Yuzhou Group Holdings Co., Ltd.\* | $**1532** |
|  | **TOTAL COMMON STOCKS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,975) | **1532** |

---

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  |  |
|  | **FIXED INCOME SECURITIES — 89.8%** |  |
|  | **ARGENTINA — 1.5%** |  |
| 720000 | Argentine Republic Government International Bond<br> 4.125%, 7/9/2035<sup>2,3</sup> | 520560 |
| 300000 | YPF S.A.<br> 8.250%, 1/17/2034<sup>2,4</sup> | 305715 |
|  |  | **826275** |
|  | **ARMENIA — 0.7%** |  |
| 400000 | Ardshinbank CJSC Via Dilijan Finance B.V.<br> 6.600%, 1/22/2031<sup>2,4</sup> | **394000** |
|  | **AZERBAIJAN — 0.5%** |  |
| 320000 | Republic of Azerbaijan International Bond<br> 3.500%, 9/1/2032 | **293158** |
|  | **BAHRAIN — 0.6%** |  |
| 330000 | Bahrain Government International Bond<br> 7.500%, 9/20/2047 | **311850** |
|  | **BRAZIL — 7.2%** |  |
| 280000 | Banco do Brasil S.A./Cayman<br> 4.875%, 1/11/2029 | 276284 |
|  | Braskem Netherlands Finance B.V. |  |
| 230000 | &nbsp;&nbsp;4.500%, 1/31/2030<sup>2</sup> | 106663 |
| 600000 | &nbsp;&nbsp;&nbsp;5.875%, 1/31/2050 | 249000 |
| 14500 | Brazil Notas do Tesouro Nacional Serie F<br> 10.000%, 1/1/2035 | 2334665 |
| 780000 | Brazilian Government International Bond<br> 4.750%, 1/14/2050<sup>2</sup> | 562419 |
| 900000 | Raizen Fuels Finance S.A.<br> 5.700%, 1/17/2035<sup>2</sup> | 489960 |
|  |  | **4018991** |
|  | **BULGARIA — 0.5%** |  |
| 270000 | Bulgaria Government International Bond<br> 5.000%, 3/5/2037 | **260034** |

---

**Gramercy Emerging Markets Debt Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **FIXED INCOME SECURITIES (Continued)** |  |
|  | **CHILE — 3.2%** |  |
| 500000 | Banco de Credito e Inversiones S.A.<br> 3.500%, 10/12/2027 | $492715 |
| 495000000 | Bonos de la Tesoreria de la Republica en pesos<br> 5.000%, 3/1/2035 | 514268 |
| 244376 | Chile Electricity Lux Mpc II Sarl<br> 5.580%, 10/20/2035 | 245723 |
| 440000 | Corp Nacional del Cobre de Chile<br> 3.150%, 1/15/2051<sup>2</sup> | 274199 |
| 305000 | Inversiones La Construccion S.A.<br> 4.750%, 2/7/2032<sup>2</sup> | 287084 |
|  |  | **1813989** |
|  | **CHINA — 0.2%** |  |
| 249676 | CIFI Holdings Group Co., Ltd.<br> 0.000%, 6/30/2027<sup>2</sup> | 23719 |
| 400000 | KWG Group Holdings Ltd.<br> 5.950%, 8/10/2027\*<sup>2,5</sup> | 19000 |
|  | Shimao Group Holdings Ltd. |  |
| 125304 | &nbsp;&nbsp;0.000%, 7/21/2026<sup>4,6</sup> | 2444 |
| 1041670 | &nbsp;&nbsp;5.950%, 7/21/2031<sup>4,7</sup> | 36459 |
| 187899 | &nbsp;&nbsp;2.000%, 7/21/2032<sup>4,7</sup> | 4932 |
| 281849 | &nbsp;&nbsp;2.000%, 7/21/2033<sup>4,7</sup> | 6342 |
| 281849 | &nbsp;&nbsp;2.000%, 1/21/2034<sup>4,7</sup> | 5778 |
|  | Yuzhou Group Holdings Co., Ltd. |  |
| 81205 | &nbsp;&nbsp;7.000%, 6/30/2027<sup>2,7</sup> | 5887 |
| 68180 | &nbsp;&nbsp;4.000%, 6/30/2028<sup>2,7</sup> | 1960 |
| 119016 | &nbsp;&nbsp;4.500%, 6/30/2029<sup>2,7</sup> | 3124 |
| 159245 | &nbsp;&nbsp;5.000%, 6/30/2030<sup>2,7</sup> | 3981 |
| 223929 | &nbsp;&nbsp;5.500%, 6/30/2031<sup>2,7</sup> | 5596 |
| 92247 | &nbsp;&nbsp;1.000%, 6/30/2034<sup>2,7</sup> | 461 |
|  |  | **119683** |
|  | **COLOMBIA — 3.7%** |  |
| 280000 | Banco de Bogota S.A.<br> 4.375%, 8/3/2027<sup>2</sup> | 278513 |
| 300000 | Colombia Government International Bond<br> 3.125%, 4/15/2031<sup>2</sup> | 256200 |
| 3072800000 | Colombian TES<br> 6.000%, 4/28/2028 | 721903 |
| 310000 | Ecopetrol S.A.<br> 4.625%, 11/2/2031<sup>2</sup> | 274942 |
| 300000 | Grupo Aval Ltd.<br> 4.375%, 2/4/2030<sup>2</sup> | 280125 |

---

**Gramercy Emerging Markets Debt Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **FIXED INCOME SECURITIES (Continued)** |  |
|  | **COLOMBIA (Continued)** |  |
| 260000 | SURA Asset Management S.A.<br> 6.350%, 5/13/2032<sup>2</sup> | $273055 |
|  |  | **2084738** |
|  | **CZECH REPUBLIC — 1.8%** |  |
| 23560000 | Czech Republic Government Bond<br> 3.000%, 3/3/2033 | **997510** |
|  | **DOMINICAN REPUBLIC — 1.1%** |  |
| 630000 | Dominican Republic International Bond<br> 4.500%, 1/30/2030 | **598500** |
|  | **ECUADOR — 1.0%** |  |
| 750000 | Ecuador Government International Bond<br> 5.000%, 7/31/2040<sup>3</sup> | **584250** |
|  | **EGYPT — 0.8%** |  |
| 500000 | Egypt Government International Bond<br> 5.875%, 2/16/2031 | **459510** |
|  | **GHANA — 0.3%** |  |
| 340000 | Ghana Government International Bond<br> 1.500%, 1/3/2037 | **182651** |
|  | **GUATEMALA — 1.0%** |  |
| 310000 | Guatemala Government Bond<br> 3.700%, 10/7/2033<sup>2</sup> | 270320 |
| 300000 | Industrial Subordinated Trust 2 0<br> 6.550% (USD 5 Year Tsy+286.40 basis points), 4/15/2036<sup>2,4,8</sup> | 299025 |
|  |  | **569345** |
|  | **HONG KONG — 0.9%** |  |
| 260000 | AIA Group Ltd.<br> 4.950%, 4/4/2033<sup>2</sup> | 266565 |
| 250000 | Standard Chartered PLC<br> 2.608% (USD 1 Year Tsy+118.00 basis points), 1/12/2028<sup>2,8</sup> | 246198 |
|  |  | **512763** |
|  | **HUNGARY — 1.7%** |  |
| 155600000 | Hungary Government Bond<br> 3.000%, 8/21/2030 | 396292 |
| 560000 | Hungary Government International Bond<br> 5.500%, 3/26/2036 | 544600 |
|  |  | **940892** |

---

**Gramercy Emerging Markets Debt Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **FIXED INCOME SECURITIES (Continued)** |  |
|  | **INDIA — 2.7%** |  |
| 264000 | India Green Power Holdings<br> 4.000%, 2/22/2027<sup>2</sup> | $257136 |
| 221400 | India Vehicle Finance<br> 5.850%, 9/25/2030<sup>4</sup> | 222281 |
| 360000 | JSW Steel Ltd.<br> 5.050%, 4/5/2032<sup>2</sup> | 343800 |
| 300000 | Manappuram Finance Ltd.<br> 7.375%, 5/12/2028 | 301455 |
| 400000 | Muthoot Finance Ltd.<br> 6.375%, 4/23/2029<sup>4</sup> | 397120 |
|  |  | **1521792** |
|  | **INDONESIA — 5.4%** |  |
| 780000 | Indofood CBP Sukses Makmur Tbk P.T.<br> 4.745%, 6/9/2051<sup>2</sup> | 617128 |
| 980000 | Indonesia Government International Bond<br> 3.700%, 10/30/2049 | 701857 |
| 29300000000 | Indonesia Treasury Bond<br> 6.500%, 7/15/2030 | 1718321 |
|  |  | **3037306** |
|  | **KAZAKSTAN — 1.0%** |  |
| 280000 | Kazakhstan Government International Bond<br> 4.714%, 4/9/2035<sup>4</sup> | 270399 |
| 325000 | KazMunayGas National Co. JSC<br> 3.500%, 4/14/2033<sup>2</sup> | 290816 |
|  |  | **561215** |
|  | **KENYA — 0.4%** |  |
| 270000 | Republic of Kenya Government International Bond<br> 8.800%, 10/9/2038<sup>4</sup> | **247320** |
|  | **KUWAIT — 1.1%** |  |
| 630000 | MEGlobal B.V.<br> 2.625%, 4/28/2028<sup>2</sup> | **592003** |
|  | **MALAYSIA — 1.7%** |  |
| 360000 | Axiata Spv5 Labuan Ltd.<br> 3.064%, 8/19/2050<sup>2</sup> | 250481 |
| 1050000 | Petronas Capital Ltd.<br> 3.404%, 4/28/2061<sup>2</sup> | 694312 |
|  |  | **944793** |
|  | **MEXICO — 8.0%** |  |
| 340000 | America Movil S.A.B. de C.V.<br> 4.375%, 4/22/2049<sup>2</sup> | 277416 |

---

**Gramercy Emerging Markets Debt Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **FIXED INCOME SECURITIES (Continued)** |  |
|  | **MEXICO (Continued)** |  |
| 225000 | Comision Federal de Electricidad<br> 6.045%, 1/28/2034<sup>2,4</sup> | $218047 |
| 415000 | Corp Inmobiliaria Vesta S.A.B. de C.V.<br> 5.500%, 1/30/2033<sup>2,4</sup> | 400994 |
| 470000 | FIBRA Prologis<br> 5.500%, 11/26/2035<sup>2,4</sup> | 454664 |
| 350000 | Fresnillo PLC<br> 4.250%, 10/2/2050<sup>2</sup> | 263375 |
| 650000 | GCC S.A.B. de C.V.<br> 3.614%, 4/20/2032<sup>2</sup> | 585533 |
| 34372500 | Mexican Bonos<br> 10.000%, 11/20/2036 | 2001849 |
| 350000 | Petroleos Mexicanos<br> 6.750%, 9/21/2047 | 279457 |
|  |  | **4481335** |
|  | **MONTENEGRO — 0.6%** |  |
| 350000 | Montenegro Government International Bond<br> 7.250%, 3/12/2031<sup>4</sup> | **362646** |
|  | **MOROCCO — 0.5%** |  |
| 370000 | OCP S.A.<br> 5.125%, 6/23/2051<sup>2</sup> | **287627** |
|  | **NIGERIA — 1.0%** |  |
| 550000 | Nigeria Government International Bond<br> 7.375%, 9/28/2033 | **537196** |
|  | **OMAN — 0.5%** |  |
| 280000 | National Bank of Oman SAOG<br> 6.625% (USD 5 Year Tsy+291.60 basis points), 5/19/2174<sup>2,8,9</sup> | **278908** |
|  | **PANAMA — 1.9%** |  |
| 289388 | AES Panama Generation Holdings SRL<br> 4.375%, 5/31/2030<sup>2</sup> | 268479 |
| 280000 | Banco General S.A.<br> 4.125%, 8/7/2027<sup>2</sup> | 276787 |
| 520000 | Panama Government International Bond<br> 5.662%, 2/23/2038<sup>2</sup> | 498869 |
|  |  | **1044135** |
|  | **PARAGUAY — 1.8%** |  |
| 360000 | Paraguay Government International Bond<br> 2.739%, 1/29/2033<sup>2</sup> | 316440 |

---

**Gramercy Emerging Markets Debt Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **FIXED INCOME SECURITIES (Continued)** |  |
|  | **PARAGUAY (Continued)** |  |
| 695000 | Ueno Bank S.A.<br> 6.700%, 3/6/2031<sup>2,4</sup> | $687098 |
|  |  | **1003538** |
|  | **PERU — 0.4%** |  |
| 250000 | Corp Financiera de Desarrollo S.A.<br> 5.500%, 5/6/2030<sup>2</sup> | **253819** |
|  | **PHILIPPINES — 1.5%** |  |
| 890000 | Philippine Government International Bond<br> 2.650%, 12/10/2045 | 559810 |
| 280000 | Rizal Commercial Banking Corp.<br> 5.500%, 1/18/2029 | 284200 |
|  |  | **844010** |
|  | **POLAND — 4.7%** |  |
| 640000 | Bank Gospodarstwa Krajowego<br> 6.250%, 7/9/2054<sup>4</sup> | 629760 |
| 6800000 | Republic of Poland Government Bond<br> 1.750%, 4/25/2032 | 1483587 |
| 540000 | Republic of Poland Government International Bond<br> 5.375%, 2/12/2035<sup>2</sup> | 548910 |
|  |  | **2662257** |
|  | **QATAR — 1.7%** |  |
| 730000 | Ooredoo International Finance Ltd.<br> 2.625%, 4/8/2031 | 659935 |
| 310000 | QIC Cayman Ltd.<br> 6.150% (Constant Maturity Yield Six-Year Tsy+220.40 basis points), 7/7/2072<sup>2,8,9</sup> | 298176 |
|  |  | **958111** |
|  | **ROMANIA — 2.1%** |  |
| 2900000 | Romania Government Bond<br> 4.850%, 7/25/2029 | 618504 |
| 550000 | Romanian Government International Bond<br> 6.375%, 1/30/2034 | 546700 |
|  |  | **1165204** |
|  | **SAUDI ARABIA — 4.2%** |  |
| 800000 | Gaci First Investment Co.<br> 5.375%, 10/13/2122<sup>2</sup> | 651128 |
| 300000 | Greensaif Pipelines Bidco Sarl<br> 6.129%, 2/23/2038 | 303098 |
| 1000000 | Saudi Arabian Oil Co.<br> 3.500%, 11/24/2070<sup>2</sup> | 595030 |

---

**Gramercy Emerging Markets Debt Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **FIXED INCOME SECURITIES (Continued)** |  |
|  | **SAUDI ARABIA (Continued)** |  |
|  | Saudi Government International Bond |  |
| 420000 | &nbsp;&nbsp;&nbsp;5.000%, 1/16/2034 | $418034 |
| 390000 | &nbsp;&nbsp;&nbsp;5.750%, 1/16/2054 | 366535 |
|  |  | **2333825** |
|  | **SOUTH AFRICA — 5.0%** |  |
| 560000 | Absa Group Ltd.<br> 6.625% (USD 5 Year Tsy+292.00 basis points), 6/8/2036<sup>2,8</sup> | 562800 |
| 350000 | Bidvest Group UK PLC<br> 6.200%, 9/17/2032<sup>2,4</sup> | 349055 |
| 36060000 | Republic of South Africa Government Bond<br> 6.500%, 2/28/2041 | 1590466 |
| 300000 | Windfall Mining Group, Inc. / Groupe Minier Windfall, Inc.<br> 5.854%, 5/13/2032<sup>2,4</sup> | 303429 |
|  |  | **2805750** |
|  | **SOUTH KOREA — 1.8%** |  |
| 490000 | Kookmin Bank<br> 4.375%, 5/8/2028<sup>4</sup> | 490975 |
| 490000 | POSCO Holdings, Inc.<br> 5.750%, 5/7/2035<sup>4</sup> | 505621 |
|  |  | **996596** |
|  | **SRI LANKA — 0.3%** |  |
| 220000 | Sri Lanka Government International Bond<br> 3.600%, 2/15/2038<sup>3,4</sup> | **196625** |
|  | **SUPRANATIONAL — 1.0%** |  |
| 495000 | Banque Ouest Africaine de Developpement<br> 6.250%, 10/14/2040<sup>2,4</sup> | **542086** |
|  | **SURINAME — 0.8%** |  |
| 455000 | Suriname Government International Bond<br> 8.500%, 11/6/2035<sup>4</sup> | **470470** |
|  | **THAILAND — 4.1%** |  |
| 605000 | Bangkok Bank PCL/Hong Kong<br> 5.082%, 11/26/2035<sup>2,4</sup> | 593620 |
| 280000 | Muangthai Capital PCL<br> 6.875%, 9/30/2028 | 276982 |
|  | Thailand Government Bond |  |
| 17630000 | &nbsp;&nbsp;&nbsp;3.650%, 6/20/2031 | 584762 |
| 15100000 | &nbsp;&nbsp;&nbsp;2.980%, 6/17/2045 | 441702 |
| 15500000 | &nbsp;&nbsp;&nbsp;2.750%, 6/17/2052 | 423736 |
|  |  | **2320802** |

---

**Gramercy Emerging Markets Debt Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **FIXED INCOME SECURITIES (Continued)** |  |
|  | **TURKEY — 2.3%** |  |
| 755000 | Akbank TAS<br> 7.950% (USD 5 Year Tsy+422.10 basis points), 8/19/2074<sup>2,4,8,9</sup> | $716873 |
| 200000 | Turkiye Garanti Bankasi A.S.<br> 8.125% (USD 5 Year Tsy+432.50 basis points), 1/8/2036<sup>2,4,8</sup> | 198440 |
| 200000 | Turkiye Is Bankasi A.S.<br> 7.575% (USD 5 Year Tsy+365.30 basis points), 2/5/2037<sup>2,4,8</sup> | 191798 |
| 210000 | Yapi ve Kredi Bankasi A.S.<br> 7.550% (USD 5 Year Tsy+383.10 basis points), 6/11/2036<sup>2,4,8</sup> | 202171 |
|  |  | **1309282** |
|  | **UKRAINE — 0.4%** |  |
| 530000 | Ukraine Government International Bond<br> 0.000%, 2/1/2036<sup>3</sup> | **242210** |
|  | **UNITED ARAB EMIRATES — 2.1%** |  |
| 325000 | Abu Dhabi National Energy Co. PJSC<br> 4.750%, 3/9/2037<sup>4</sup> | 304694 |
| 370000 | Galaxy Pipeline Assets Bidco Ltd.<br> 3.250%, 9/30/2040 | 283498 |
| 640000 | MDGH GMTN RSC Ltd.<br> 2.500%, 6/3/2031<sup>2</sup> | 565248 |
|  |  | **1153440** |
|  | **URUGUAY — 1.3%** |  |
| 810000 | Uruguay Government International Bond<br> 4.975%, 4/20/2055 | **716162** |
|  | **UZBEKISTAN — 2.1%** |  |
| 560000 | Ipoteka-Bank ATIB<br> 6.450%, 10/9/2030<sup>2</sup> | 554652 |
| 310000 | Republic of Uzbekistan International Bond<br> 3.900%, 10/19/2031 | 279040 |
| 325000 | Uzbek Industrial and Construction Bank ATB<br> 9.450% (USD 5 Year Tsy+579.20 basis points), 10/23/2072<sup>2,4,8,9</sup> | 324594 |
|  |  | **1158286** |
|  | **VENEZUELA — 0.3%** |  |
| 575000 | Petroleos de Venezuela S.A.<br> 6.000%, 5/16/2026\*<sup>5</sup> | **195040** |
|  | **ZAMBIA — 0.4%** |  |
| 260000 | First Quantum Minerals Ltd.<br> 6.375%, 2/15/2036<sup>2,4</sup> | **248769** |
|  | **TOTAL FIXED INCOME SECURITIES** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $50,826,089) | **50440697** |

---

**Gramercy Emerging Markets Debt Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

---

| | | |
|:---|:---|:---|
| Principal<br> Amount<sup>1</sup> |  | Value |
|  | **MEDIUM TERM NOTES — 0.5%** |  |
|  | **ANGOLA — 0.5%** |  |
| 265000 | Angolan Government International Bond<br> 9.375%, 3/31/2033<sup>4</sup> | $**260517** |
|  | **TOTAL MEDIUM TERM NOTES** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $265,000) | **260517** |
|  | **U.S. GOVERNMENT — 7.3%** |  |
| 4100000 | United States Treasury Bill<br> 0.000%, 5/7/2026 | 4085081 |
|  | **TOTAL U.S. GOVERNMENT** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $4,085,303) | **4085081** |
|  | **TOTAL INVESTMENTS — 97.6%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $55,180,367) | **54787827** |
|  | Other Assets in Excess of Liabilities — 2.4% | 1374990 |
|  | **TOTAL NET ASSETS — 100.0%** | $**56162817** |

---

PLC – Public Limited Company <br> PCL – Public Company Limited <br> PJSC – Public Joint Stock Company

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

<sup>1</sup> Local currency.

<sup>2</sup> Callable.

<sup>3</sup> Step rate security.

<sup>4</sup> Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional buyers. The total value of these securities is $10,844,761, which represents 19.31% of Net Assets.

<sup>5</sup> Security is in default.

<sup>6</sup> Convertible security.

<sup>7</sup> Payment-in-kind interest is generally paid by issuing additional par/shares of the security rather than paying cash.

<sup>8</sup> Variable rate security.

<sup>9</sup> Perpetual security. Maturity date is not applicable.

**Gramercy Emerging Markets Debt Fund**

**SCHEDULE OF INVESTMENTS - Continued**

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

**FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sale Contracts** | <br>**Counterparty** | <br>**Currency**<br>**Exchange** | <br>**Settlement**<br>**Date** | **Currency**<br>**Amount**<br>**Sold** | **Value At**<br>**Settlement**<br>**Date** |<br>**Value At**<br>**March 31, 2026** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
| Euro | UMB Bank NA | EUR per USD | 6/9/2026 | 494000 | $(572843) | $(572810) | $33 |
|  |  |  |  |  | (572843) | (572810) | 33 |
| **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** |  | $(572843) | $(572810) | $33 |

---

EUR – Euro

## 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:** 2026-12-31

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $56950126.38

**Total Liabilities:** $790429.17

**Net Assets:** $56159697.21

**Cash Not Reported:** $1021213.04

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 23.693471714000 | **1-Year:** 335.875030475199 | **5-Year:** 3283.330954381893 | **10-Year:** 4743.762302228169 | **30-Year:** 6094.599587095738

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

- **3-Month:** 2.989535506927 | **1-Year:** 666.115950999961 | **5-Year:** 4008.422668810062 | **10-Year:** 8043.319230047393 | **30-Year:** 4343.835817267355

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248863 | 0.93%                | 1.15%                | -3.83%               |
| Class ID C000248864 | 0.91%                | 1.23%                | -3.85%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $482042.85               | $-235180.14                                |
| Month 2  | $828885.81               | $-298925.27                                |
| Month 3  | $-34617.10               | $-2522747.78                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABSA GROUP LTD                       | Absa Group Ltd.                                            | CUSIP: 999999999<br>LEI: 2138006IPPRD4N6XLT30 | Long             | DBT              | CORP              | ZA        |      560000 | PA      | $562800.00    | 1.00%             | 2036-06-08      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                   | Angolan Government International Bond                      | CUSIP: 999999999<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |      260000 | PA      | $262080.00    | 0.47%             | 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      | $514268.05    | 0.92%             | 2035-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EURO FORWARD CONTRACT 06/09/2026   / | EURO FORWARD CONTRACT 06/09/2026   /                       | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DFE              |  | XX        |     -494000 | OU      | $-572809.70   | -1.02%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                    | Ghana Government International Bond                        | CUSIP: 999999999<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      340000 | PA      | $182651.40    | 0.33%             | 2037-01-03      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| HUNGARY                              | Hungary Government International Bond                      | CUSIP: 999999999<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |      560000 | PA      | $544600.00    | 0.97%             | 2036-03-26      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                 | Indonesia Treasury Bond                                    | CUSIP: 999999999<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 29300000000 | PA      | $1718321.34   | 3.06%             | 2030-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RIZAL COMMERCIAL BANKING             | Rizal Commercial Banking Corp.                             | CUSIP: 999999999<br>LEI: CIKZWI6KV077KV2E2J69 | Long             | DBT              | CORP              | PH        |      280000 | PA      | $284200.00    | 0.51%             | 2029-01-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AIA GROUP LTD                        | AIA Group Ltd.                                             | CUSIP: 00131MAP8<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | DBT              | CORP              | HK        |      260000 | PA      | $266565.00    | 0.47%             | 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        |      325000 | PA      | $304694.00    | 0.54%             | 2037-03-09      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| AKBANK TAS                           | Akbank TAS                                                 | CUSIP: 00971YAN0<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |      755000 | PA      | $716872.50    | 1.28%             | 2074-08-19      | Variable      | 7.95%                 | Yes           |                  2 | On Loan: No      |
| AMERICA MOVIL SAB DE CV              | America Movil S.A.B. de C.V.                               | CUSIP: 02364WBG9<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |      340000 | PA      | $277416.20    | 0.49%             | 2049-04-22      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                   | Angolan Government International Bond                      | CUSIP: 035198AK6<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |      265000 | PA      | $260516.97    | 0.46%             | 2033-03-31      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                | Argentine Republic Government International Bond           | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |      720000 | PA      | $520560.00    | 0.93%             | 2035-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES             | Banco de Credito e Inversiones S.A.                        | CUSIP: 05890PZA7<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |      500000 | PA      | $492715.00    | 0.88%             | 2027-10-12      | Fixed         | 3.50%                 | 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      | $593619.95    | 1.06%             | 2035-11-26      | Fixed         | 5.08%                 | Yes           |                  2 | On Loan: No      |
| BANK GOSPODARSTWA KRAJOW             | Bank Gospodarstwa Krajowego                                | CUSIP: 06237MAD5<br>LEI: 259400BCOV9JJIGLYF05 | Long             | DBT              |  | PL        |      640000 | PA      | $629760.00    | 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      | $542085.64    | 0.97%             | 2040-10-14      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF POLAND                   | Republic of Poland Government International Bond           | CUSIP: 857524AH5<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |      540000 | PA      | $548910.00    | 0.98%             | 2035-02-12      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT             | Suriname Government International Bond                     | CUSIP: 86886PAF9<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |      455000 | PA      | $470470.00    | 0.84%             | 2035-11-06      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| TURKIYE GARANTI BANKASI              | Turkiye Garanti Bankasi A.S.                               | CUSIP: 900148AH0<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |      200000 | PA      | $198440.00    | 0.35%             | 2036-01-08      | Variable      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| TURKIYE IS BANKASI A.S               | Turkiye Is Bankasi A.S.                                    | CUSIP: 900151AP6<br>LEI: 789000FIRX9MDN0KTM91 | Long             | DBT              | CORP              | TR        |      200000 | PA      | $191798.00    | 0.34%             | 2037-02-05      | Variable      | 7.58%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                | Indonesia Government International Bond                    | CUSIP: 455780CN4<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |      980000 | PA      | $701856.40    | 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      | $250480.80    | 0.45%             | 2050-08-19      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| UENO BANK SA                         | Ueno Bank S.A.                                             | CUSIP: 903934AB3<br>LEI: 98450099V56Z7DB78D05 | Long             | DBT              | CORP              | PY        |      695000 | PA      | $687097.85    | 1.22%             | 2031-03-06      | Fixed         | 6.70%                 | Yes           |                  2 | On Loan: No      |
| TREASURY BILL                        | United States Treasury Bill                                | CUSIP: 912797SP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     4100000 | PA      | $4085081.33   | 7.27%             | 2026-05-07      | Fixed         | 0.00%                 | 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      | $303428.82    | 0.54%             | 2032-05-13      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| CZECH REPUBLIC                       | Czech Republic Government Bond                             | CUSIP: 999999999<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    23560000 | PA      | $997509.89    | 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      | $268479.56    | 0.48%             | 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        |      750000 | PA      | $584250.00    | 1.04%             | 2040-07-31      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                | Guatemala Government Bond                                  | CUSIP: 999999999<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |      310000 | PA      | $270320.00    | 0.48%             | 2033-10-07      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC             | Greensaif Pipelines Bidco Sarl                             | CUSIP: 999999999<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |      300000 | PA      | $303097.50    | 0.54%             | 2038-02-23      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S             | Petroleos de Venezuela S.A.                                | CUSIP: 999999999<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |      575000 | PA      | $195040.00    | 0.35%             | 2026-05-16      | None          | 6.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA                              | Romanian Government International Bond                     | CUSIP: 999999999<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |      550000 | PA      | $546700.00    | 0.97%             | 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      | $459510.00    | 0.82%             | 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        |      370000 | PA      | $283497.70    | 0.50%             | 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      | $279040.30    | 0.50%             | 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      | $595030.00    | 1.06%             | 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        |      310000 | PA      | $274942.10    | 0.49%             | 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      | $659934.60    | 1.18%             | 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      | $423735.60    | 0.75%             | 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        |      650000 | PA      | $585533.00    | 1.04%             | 2032-04-20      | Fixed         | 3.61%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN RSC LTD                    | MDGH GMTN RSC Ltd.                                         | CUSIP: 999999999<br>LEI: 213800WRY6FRL9IXLT77 | Long             | DBT              | CORP              | AE        |      640000 | PA      | $565248.00    | 1.01%             | 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      | $592003.13    | 1.05%             | 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      | $694312.50    | 1.24%             | 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      | $19000.00     | 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        |     2900000 | PA      | $618504.38    | 1.10%             | 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        |     6800000 | PA      | $1483586.82   | 2.64%             | 2032-04-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT             | Shimao Group Holdings Ltd.                                 | CUSIP: 304708310<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |     1041670 | PA      | $36458.45     | 0.06%             | 2031-07-21      | None          | 5.95%                 | Yes           |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL             | Brazil Notas do Tesouro Nacional Serie F                   | CUSIP: 999999999<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |       14500 | PA      | $2334664.91   | 4.16%             | 2035-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| THAILAND GOVERNMENT BOND             | Thailand Government Bond                                   | CUSIP: Y603CLBS2<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    15100000 | PA      | $441702.47    | 0.79%             | 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        |      900000 | PA      | $489960.00    | 0.87%             | 2035-01-17      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF OMAN                | National Bank of Oman SAOG                                 | CUSIP: 999999999<br>LEI: 549300D3B4GI1CT73Z02 | Long             | DBT              | CORP              | OM        |      280000 | PA      | $278908.00    | 0.50%             | 2174-05-19      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT             | Shimao Group Holdings Ltd.                                 | CUSIP: 999999999<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |      125304 | PA      | $2443.43      | 0.00%             | 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        |       81205 | PA      | $5887.36      | 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        |      119016 | PA      | $3124.17      | 0.01%             | 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        |       68180 | PA      | $1960.18      | 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        |      159245 | PA      | $3981.13      | 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        |      223929 | PA      | $5595.99      | 0.01%             | 2031-06-30      | None          | 5.50%                 | No            |                  2 | On Loan: No      |
| YUZHOU GROUP                         | Yuzhou Group Holdings Co., Ltd.                            | CUSIP: 999999999<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |       92247 | PA      | $461.24       | 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      | $260034.30    | 0.46%             | 2037-03-05      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IPOTEKA-BANK ATIB                    | Ipoteka-Bank ATIB                                          | CUSIP: 999999999<br>LEI: 213800UWVX5JSNXJS434 | Long             | DBT              | CORP              | UZ        |      560000 | PA      | $554652.00    | 0.99%             | 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      | $253818.75    | 0.45%             | 2030-05-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| QIC CAYMAN LTD                       | QIC Cayman Ltd.                                            | CUSIP: 999999999<br>LEI: 549300ZO9661UN55F475 | Long             | DBT              | CORP              | KY        |      310000 | PA      | $298176.39    | 0.53%             | 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      | $287084.30    | 0.51%             | 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      | $324593.75    | 0.58%             | 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      | $23719.22     | 0.04%             | 2027-06-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES              | Philippine Government International Bond                   | CUSIP: 718286CL9<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |      890000 | PA      | $559810.00    | 1.00%             | 2045-12-10      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY             | Uruguay Government International Bond                      | CUSIP: 760942BD3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |      810000 | PA      | $716161.50    | 1.28%             | 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      | $362645.50    | 0.65%             | 2031-03-12      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO             | OCP S.A.                                                   | CUSIP: 999999999<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |      370000 | PA      | $287627.05    | 0.51%             | 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        |      264000 | PA      | $257136.00    | 0.46%             | 2027-02-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                 | YPF S.A.                                                   | CUSIP: 984245BB5<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |      300000 | PA      | $305715.24    | 0.54%             | 2034-01-17      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| YAPI VE KREDI BANKASI AS             | Yapi ve Kredi Bankasi A.S.                                 | CUSIP: 984848AW1<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | DBT              | CORP              | TR        |      210000 | PA      | $202171.20    | 0.36%             | 2036-06-11      | Variable      | 7.55%                 | Yes           |                  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      | $617128.20    | 1.10%             | 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      | $290816.50    | 0.52%             | 2033-04-14      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT              | Mexican Bonos                                              | CUSIP: 999999999<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    34372500 | PA      | $2001848.61   | 3.56%             | 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        |    36060000 | PA      | $1590465.86   | 2.83%             | 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      | $584762.19    | 1.04%             | 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      | $721902.86    | 1.29%             | 2028-04-28      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF AZERBAIJAN               | Republic of Azerbaijan International Bond                  | CUSIP: 999999999<br>LEI: 549300P74FF45UQVU281 | Long             | DBT              | NUSS              | AZ        |      320000 | PA      | $293158.02    | 0.52%             | 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      | $311850.00    | 0.56%             | 2047-09-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND              | Hungary Government Bond                                    | CUSIP: 999999999<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   155600000 | PA      | $396291.56    | 0.71%             | 2030-08-21      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                   | Dominican Republic International Bond                      | CUSIP: 999999999<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |      630000 | PA      | $598500.00    | 1.07%             | 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      | $562419.00    | 1.00%             | 2050-01-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                  | Nigeria Government International Bond                      | CUSIP: 999999999<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |      550000 | PA      | $537196.00    | 0.96%             | 2033-09-28      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| JSW STEEL LTD                        | JSW Steel Ltd.                                             | CUSIP: 999999999<br>LEI: 335800EK6HZSC4CVAJ09 | Long             | DBT              | CORP              | IN        |      360000 | PA      | $343800.00    | 0.61%             | 2032-04-05      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| BIDVEST GROUP UK PLC                 | Bidvest Group UK PLC                                       | CUSIP: 088932AA6<br>LEI: 984500A80C777F496830 | Long             | DBT              | CORP              | GB        |      350000 | PA      | $349055.00    | 0.62%             | 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      | $1532.25      | 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      | $256200.00    | 0.46%             | 2031-04-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC             | Comision Federal de Electricidad                           | CUSIP: 200447AQ3<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |      225000 | PA      | $218047.50    | 0.39%             | 2034-01-28      | Fixed         | 6.04%                 | Yes           |                  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      | $400993.75    | 0.71%             | 2033-01-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| ARDSHININVESTBK (DILIJAN             | Ardshinbank CJSC Via Dilijan Finance B.V.                  | CUSIP: 254032AD7<br>LEI: 549300DCGXFXAP2FEV07 | Long             | DBT              | CORP              | NL        |      400000 | PA      | $394000.00    | 0.70%             | 2031-01-22      | Fixed         | 6.60%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF KAZAKHSTAN               | Kazakhstan Government International Bond                   | CUSIP: 291477097<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |      280000 | PA      | $270398.80    | 0.48%             | 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        |      187899 | PA      | $4932.35      | 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        |      281849 | PA      | $6341.60      | 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        |      281849 | PA      | $5777.90      | 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      | $454663.90    | 0.81%             | 2035-11-26      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L             | First Quantum Minerals Ltd.                                | CUSIP: 335934AY1<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |      260000 | PA      | $248769.30    | 0.44%             | 2036-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| INDIA VEHICLE FINANCE                | India Vehicle Finance                                      | CUSIP: 45410KAA2<br>LEI: 254900FDW5H9JZP2A596 | Long             | DBT              | CORP              | MU        |      221400 | PA      | $222281.17    | 0.40%             | 2030-09-25      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| INDUSTRIAL SUBORD TR 2.0             | Industrial Subordinated Trust 2 0                          | CUSIP: 456349AA7<br>LEI: 254900WSJBB5525DL518 | Long             | DBT              | CORP              | GT        |      300000 | PA      | $299025.00    | 0.53%             | 2036-04-15      | Variable      | 6.55%                 | 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      | $247320.00    | 0.44%             | 2038-10-09      | Fixed         | 8.80%                 | Yes           |                  2 | On Loan: No      |
| KOOKMIN BANK                         | Kookmin Bank                                               | CUSIP: 500498AL4<br>LEI: 549300XXMOJSIW8P4769 | Long             | DBT              | CORP              | KR        |      490000 | PA      | $490975.10    | 0.87%             | 2028-05-08      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| MUTHOOT FINANCE LTD                  | Muthoot Finance Ltd.                                       | CUSIP: 62828L2D4<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |      400000 | PA      | $397120.00    | 0.71%             | 2029-04-23      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| POSCO HOLDINGS INC                   | POSCO Holdings, Inc.                                       | CUSIP: 693483AK5<br>LEI: 988400E5HRVX81AYLM04 | Long             | DBT              | CORP              | KR        |      490000 | PA      | $505621.20    | 0.90%             | 2035-05-07      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF PANAMA                   | Panama Government International Bond                       | CUSIP: 698299CC6<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |      520000 | PA      | $498868.92    | 0.89%             | 2038-02-23      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                  | Petroleos Mexicanos                                        | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |      350000 | PA      | $279457.50    | 0.50%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND             | Saudi Government International Bond                        | CUSIP: 999999999<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |      390000 | PA      | $366535.18    | 0.65%             | 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        |      420000 | PA      | $418034.40    | 0.74%             | 2034-01-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC               | Standard Chartered PLC                                     | CUSIP: 999999999<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |      250000 | PA      | $246197.50    | 0.44%             | 2028-01-12      | Variable      | 2.61%                 | No            |                  2 | On Loan: No      |
| GACI FIRST INVESTMENT                | Gaci First Investment Co.                                  | CUSIP: 999999999<br>LEI: 558600TU1PWGNLZ3XM88 | Long             | DBT              | CORP              | KY        |      800000 | PA      | $651128.00    | 1.16%             | 2122-10-13      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHILE ELECTRICITY LUX                | Chile Electricity Lux Mpc II Sarl                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              |  | LU        |      244376 | PA      | $245722.76    | 0.44%             | 2035-10-20      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| FRESNILLO PLC                        | Fresnillo PLC                                              | CUSIP: G371E72B2<br>LEI: 549300JXWH1UV5J0XV81 | Long             | DBT              | CORP              | GB        |      350000 | PA      | $263375.00    | 0.47%             | 2050-10-02      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GRUPO AVAL LTD                       | Grupo Aval Ltd.                                            | CUSIP: G42045AC1<br>LEI: 549300J4FW1ELLQ80113 | Long             | DBT              | CORP              | KY        |      300000 | PA      | $280125.00    | 0.50%             | 2030-02-04      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HONG KONG DOLLAR  /                  | HONG KONG DOLLAR  /                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | STIV             |  | HK        |         284 | OU      | $36.27        | 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      | $106662.50    | 0.19%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                  | Braskem Netherlands Finance B.V.                           | CUSIP: N15516AE2<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |      600000 | PA      | $249000.00    | 0.44%             | 2050-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BANCO DE BOGOTA SA                   | Banco de Bogota S.A.                                       | CUSIP: P09252AM2<br>LEI: 549300LYHE7LWSKDZT53 | Long             | DBT              | CORP              | CO        |      280000 | PA      | $278513.20    | 0.50%             | 2027-08-03      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BANCO GENERAL SA                     | Banco General S.A.                                         | CUSIP: P12651AB4<br>LEI: 549300B5C08LGDFB7205 | Long             | DBT              | CORP              | PA        |      280000 | PA      | $276787.00    | 0.49%             | 2027-08-07      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                          | Corp Nacional del Cobre de Chile                           | CUSIP: P3143NBM5<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |      440000 | PA      | $274199.20    | 0.49%             | 2051-01-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| BANCO DO BRASIL (CAYMAN)             | Banco do Brasil S.A./Cayman                                | CUSIP: P3772WAK8<br>LEI: QE0Q0253K88YAGNPE356 | Long             | DBT              | CORP              | BR        |      280000 | PA      | $276284.40    | 0.49%             | 2029-01-11      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                 | Paraguay Government International Bond                     | CUSIP: P75744AK1<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |      360000 | PA      | $316440.00    | 0.56%             | 2033-01-29      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| SURA ASSET MANAGEMENT                | SURA Asset Management S.A.                                 | CUSIP: P8803LAB4<br>LEI: 549300013ETMS1C0EA22 | Long             | DBT              | CORP              | CO        |      260000 | PA      | $273054.60    | 0.49%             | 2032-05-13      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                | Sri Lanka Government International Bond                    | CUSIP: YS0724148<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      220000 | PA      | $196625.00    | 0.35%             | 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        |      530000 | PA      | $242210.00    | 0.43%             | 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      | $276981.60    | 0.49%             | 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      | $301455.00    | 0.54%             | 2028-05-12      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-07

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

**Signature:** /s/ Maureen Quill

**Name of Signer:** Maureen Quill

**Title:** President