# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001145549-23-004439
**Filing Date:** 2023-1
**Character Count:** 25341
**Document Hash:** 3d59111642168fb21564fe4d4a3def00
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-004439.hdr.sgml**: 20230130

**ACCESSION NUMBER**: 0001145549-23-004439

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230130

**DATE AS OF CHANGE**: 20230130

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Investment Managers Series Trust
- **CENTRAL INDEX KEY:** 0001318342
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21719
- **FILM NUMBER:** 23566269

**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

### Securian AM Equity Stabilization Fund (Series ID: S000069988)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000222859 | Institutional Class Shares | VMEIX           |

## Nport-Ex

**Securian AM Balanced Stabilization Fund**

**SCHEDULE OF INVESTMENTS**

**As of November 30, 2022 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **CORPORATE BONDS — 32.3%** |  |
|  | **BASIC MATERIALS — 1.0%** |  |
| $250000 | Anglo American Capital PLC <br> 2.625%, 9/10/2030<sup>1,2,3</sup> | $202104 |
| 300000 | Sherwin-Williams Co. <br> 3.950%, 1/15/2026<sup>2</sup> | 292636 |
| 250000 | Yara International A.S.A. <br> 4.750%, 6/1/2028<sup>1,2,3</sup> | 231542 |
|  |  | **726282** |
|  | **COMMUNICATIONS — 1.3%** |  |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp;AT&T, Inc.<br> 4.500%, 5/15/2035<sup>2</sup> | 273950 |
| 327000 | Comcast Corp. <br> 2.937%, 11/1/2056<sup>2</sup> | 210920 |
| 298000 | Verizon Communications, Inc. <br> 2.987%, 10/30/2056<sup>2</sup> | 187659 |
| 250000 | Vodafone Group PLC <br> 4.125%, 5/30/2025<sup>3</sup> | 246739 |
|  |  | **919268** |
|  | **CONSUMER, CYCLICAL — 2.6%** |  |
| 177668 | Air Canada 2015-2 Class A Pass-Through Trust <br> 4.125%, 6/15/2029<sup>1,3</sup> | 145602 |
| 101099 | British Airways 2013-1 Class A Pass-Through Trust <br> 4.625%, 12/20/2025<sup>1</sup> | 98130 |
| 250000 | Delta Air Lines, Inc. / SkyMiles IP Ltd. <br> 4.750%, 10/20/2028<sup>1,3</sup> | 236777 |
| 250000 | General Motors Financial Co., Inc. <br> 5.000%, 4/9/2027<sup>2</sup> | 244314 |
| 550000 | Lowe's Cos., Inc. <br> 5.625%, 4/15/2053<sup>2</sup> | 543464 |
| 700000 | Warnermedia Holdings, <br> Inc. 5.141%, 3/15/2052<sup>1,2</sup> | 536972 |
|  |  | **1805259** |
|  | **CONSUMER, NON-CYCLICAL — 5.7%** |  |
| 300000 | Abbott Laboratories <br> 4.750%, 4/15/2043<sup>2</sup> | 291650 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp;Amgen, Inc.<br> 4.050%, 8/18/2029<sup>2</sup> | 237768 |
| 250000 | &nbsp;&nbsp;&nbsp;Ashtead Capital, Inc. <br> 5.500%, 8/11/2032<sup>1,2</sup> | 239206 |
| 250000 | Becton, Dickinson and Co. <br> 4.298%, 8/22/2032<sup>2</sup> | 237398 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp;Bio-Rad Laboratories, Inc.<br> 3.700%, 3/15/2032<sup>2</sup> | 216266 |

---

**Securian AM Balanced Stabilization Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of November 30, 2022 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **CONSUMER, NON-CYCLICAL (Continued)** |  |
| $550000 | &nbsp;&nbsp;&nbsp;&nbsp;Cargill, Inc.<br> 4.375%, 4/22/2052<sup>1,2</sup> | $484760 |
| 550000 | Constellation Brands, Inc. <br> 5.250%, 11/15/2048<sup>2</sup> | 520226 |
| 149974 | CVS Pass-Through Trust <br> 6.943%, 1/10/2030 | 153187 |
|  | Global Payments, Inc. |  |
| 250000 | &nbsp;&nbsp;&nbsp;4.800%, 4/1/2026<sup>2</sup> | 244191 |
| 250000 | &nbsp;&nbsp;&nbsp;5.300%, 8/15/2029<sup>2</sup> | 241905 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp;Kroger Co.<br> 5.150%, 8/1/2043<sup>2</sup> | 551958 |
| 500000 | Takeda Pharmaceutical Co., <br> Ltd. 5.000%, 11/26/2028<sup>2,3</sup> | 498330 |
|  |  | **3916845** |
|  | **ENERGY — 2.1%** |  |
| 300000 | Florida Gas Transmission Co. <br> LLC 4.350%, 7/15/2025<sup>1,2</sup> | 291761 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp;MPLX LP<br> 4.950%, 9/1/2032<sup>2</sup> | 236037 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc.<br> 4.000%, 7/13/2027<sup>2</sup> | 234277 |
| 200000 | Phillips 66 <br> 4.650%, 11/15/2034<sup>2</sup> | 189068 |
| 250000 | Valero Energy Corp. <br> 4.350%, 6/1/2028<sup>2</sup> | 243534 |
| 250000 | Williams Cos., Inc. <br> 3.750%, 6/15/2027<sup>2</sup> | 236261 |
|  |  | **1430938** |
|  | **FINANCIAL — 12.7%** |  |
| 200000 | Alexandria Real Estate Equities, Inc. <br> 4.300%, 1/15/2026<sup>2</sup> | 194830 |
| 250000 | Allied World Assurance Co. Holdings Ltd. <br> 4.350%, 10/29/2025<sup>2,3</sup> | 239973 |
| 132000 | Assured Guaranty U.S. Holdings, Inc. <br> 5.000%, 7/1/2024 | 131982 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp.<br> 5.834% (SOFR Index+207.4 basis points), 10/25/2033<sup>2,4</sup> | 525044 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp;Barclays PLC<br> 4.375%, 1/12/2026<sup>3</sup> | 192242 |
| 250000 | Capital One Financial Corp. <br> 4.250%, 4/30/2025<sup>2</sup> | 244809 |
| 650000 | &nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc.<br> 4.650%, 7/23/2048<sup>2</sup> | 582772 |

---

**Securian AM Balanced Stabilization Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of November 30, 2022 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **CORPORATE BONDS (Continued)**<br> **FINANCIAL (Continued)** |  |
| $250000 | &nbsp;&nbsp;&nbsp;&nbsp;Comerica Bank<br> 5.332% (SOFR Rate+261 basis points), 8/25/2033<sup>2,4</sup> | $239333 |
| 300000 | Essex Portfolio LP <br> 3.500%, 4/1/2025<sup>2</sup> | 289100 |
| 200000 | First American Financial Corp. <br> 4.600%, 11/15/2024 | 196506 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc.<br> 4.482% (SOFR Rate+172.5 basis points), 8/23/2028<sup>2,4</sup> | 479645 |
| 250000 | Hanover Insurance Group, Inc. <br> 4.500%, 4/15/2026<sup>2</sup> | 245299 |
| 250000 | Healthcare Realty Holdings LP <br> 3.750%, 7/1/2027<sup>2</sup> | 232230 |
| 250000 | Horace Mann Educators Corp. <br> 4.500%, 12/1/2025<sup>2</sup> | 240482 |
| 500000 | Intercontinental Exchange, Inc. <br> 4.350%, 6/15/2029<sup>2</sup> | 491824 |
| 250000 | Invesco Finance PLC <br> 3.750%, 1/15/2026<sup>3</sup> | 240383 |
| 250000 | Jefferies Financial Group, Inc. <br> 2.625%, 10/15/2031<sup>2</sup> | 188446 |
| 500000 | KeyBank N.A. <br> 4.390%, 12/14/2027 | 481786 |
| 250000 | Liberty Mutual Group, Inc. <br> 4.250%, 6/15/2023<sup>1</sup> | 247826 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;M&T Bank Corp.<br> 4.553% (SOFR Index+178 basis points), 8/16/2028<sup>2,4</sup> | 479760 |
| 250000 | Manulife Financial Corp. <br> 4.150%, 3/4/2026<sup>3</sup> | 245811 |
| 500000 | Metropolitan Life Global Funding I <br> 1.550%, 1/7/2031<sup>1</sup> | 384629 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley<br> 6.342% (SOFR Rate+256 basis points), 10/18/2033<sup>2,4</sup> | 529792 |
| 200000 | Old Republic International Corp. <br> 4.875%, 10/1/2024<sup>2</sup> | 198249 |
| 250000 | SVB Financial Group <br> 2.100%, 5/15/2028<sup>2</sup> | 205059 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;U.S. Bancorp<br> 5.850% (SOFR Rate+209 basis points), 10/21/2033<sup>2,4</sup> | 519798 |
| 700000 | &nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co.<br> 3.068% (SOFR Rate+253 basis points), 4/30/2041<sup>2,4</sup> | 513995 |
|  |  | **8761605** |

---

**Securian AM Balanced Stabilization Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of November 30, 2022 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  | Value |
|  | **CORPORATE BONDS (Continued)** |  |
|  | **INDUSTRIAL — 3.1%** |  |
| $500000 | GATX Corp.<br> 4.900%, 3/15/2033<sup>2</sup> | $469707 |
| 250000 | General Dynamics Corp. <br> 3.500%, 5/15/2025<sup>2</sup> | 244654 |
| 250000 | Kansas City Southern/Old <br> 4.300%, 5/15/2043<sup>2</sup> | 210273 |
| 250000 | Penske Truck Leasing Co. Lp / PTL Finance Corp.<br> 3.900%, 2/1/2024<sup>1,2</sup> | 244549 |
| 250000 | Textron, Inc. <br> 4.000%, 3/15/2026<sup>2</sup> | 241718 |
| 250000 | Tyco Electronics Group S.A. <br> 3.700%, 2/15/2026<sup>2,3</sup> | 241271 |
| 500000 | Union Pacific Corp. <br> 5.375%, 6/1/2033 | 508365 |
|  |  | **2160537** |
|  | **TECHNOLOGY — 1.4%** |  |
| 250000 | Broadcom, Inc. <br> 3.419%, 4/15/2033<sup>1,2</sup> | 201452 |
| 250000 | Dell International LLC / EMC Corp. <br> 6.200%, 7/15/2030<sup>2</sup> | 256967 |
| 100000 | Hewlett Packard Enterprise Co. <br> 4.900%, 10/15/2025<sup>2</sup> | 99767 |
| 250000 | Leidos, Inc. <br> 4.375%, 5/15/2030<sup>2</sup> | 227718 |
| 250000 | &nbsp;&nbsp;&nbsp;Micron Technology, Inc. <br> 2.703%, 4/15/2032<sup>2</sup> | 193117 |
|  |  | **979021** |
|  | **UTILITIES — 2.4%** |  |
| 550000 | CenterPoint Energy Houston Electric LLC <br> 4.850%, 10/1/2052<sup>2</sup> | 521221 |
| 250000 | Duke Energy Corp. 4.500%, 8/15/2032<sup>2</sup> | 236576 |
| 250000 | Duke Energy Florida LLC <br> 5.950%, 11/15/2052<sup>2</sup> | 273853 |
| 200000 | Oglethorpe Power Corp. <br> 4.250%, 4/1/2046<sup>2</sup> | 149732 |
| 500000 | Wisconsin Power and Light Co. <br> 3.950%, 9/1/2032<sup>2</sup> | 461192 |
|  |  | **1642574** |
|  | **TOTAL CORPORATE BONDS** |  |
|  | &nbsp;&nbsp;&nbsp;(Cost $22,816,633) | **22342329** |

---

**Securian AM Balanced Stabilization Fund** 

**SCHEDULE OF INVESTMENTS - Continued** 

**As of November 30, 2022 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number of <br> Shares |  | Value |
|  | **EXCHANGE-TRADED FUNDS — 47.7%** |  |
| 80666 | iShares Core S&P 500 ETF<sup>5</sup> | $33018207 |
|  | **TOTAL EXCHANGE-TRADED FUNDS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $17,258,078) | **33018207** |

---

---

| | | |
|:---|:---|:---|
| Number of <br> Contracts |  |  |
|  | **PURCHASED OPTIONS CONTRACTS — 0.3%** |  |
|  | **CALL OPTIONS — 0.3%** |  |
|  | S&P 500 |  |
| 9 | Exercise Price: $3,970.00, Notional Amount: $3,573,000 <br> Expiration Date: December 16, 2022 | 133344 |
|  | Exercise Price: $4,010.00, Notional Amount: $3,609,000 |  |
| 9 | &nbsp;&nbsp;&nbsp;&nbsp;Expiration Date: December 16, 2022 | 106290 |
|  | **TOTAL CALL OPTIONS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $158,504) | **239634** |
|  | **TOTAL PURCHASED OPTIONS CONTRACTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $158,504) | **239634** |

---

---

| | | |
|:---|:---|:---|
| Principal <br> Amount |  |  |
|  | **U.S. GOVERNMENT SECURITIES — 4.2%** |  |
| $3100000 | United States Treasury Note <br> 1.000%, 12/15/2024 | 2898138 |
|  | **TOTAL U.S. GOVERNMENT SECURITIES** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,097,952) | **2898138** |

---

---

| | | |
|:---|:---|:---|
| Number of <br> Shares |  |  |
|  | **SHORT-TERM INVESTMENTS — 14.2%** |  |
| 9820863 | Morgan Stanley Institutional Liquidity Fund - Government Portfolio, <br> 3.57%<sup>6</sup> | 9820863 |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $9,820,863) | **9820863** |
|  | **TOTAL INVESTMENTS — 98.7%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $53,152,030) | **68319171** |
|  | Other Assets in Excess of Liabilities — 1.3% | 908323 |
|  | **TOTAL NET ASSETS — 100.0%** | $**69227494** |

---

---

| | | |
|:---|:---|:---|
| Number of <br> Contracts |  |  |
|  | **WRITTEN OPTIONS CONTRACTS — (0.1)%** |  |
|  | **CALL OPTIONS — (0.1)%** |  |
|  | S&P 500 |  |
| (9) | Exercise Price: $4,170.00, Notional Amount: $(3753000) <br> Expiration Date: December 16, 2022 | (32490) |

---

**Securian AM Balanced Stabilization Fund** 

**SCHEDULE OF INVESTMENTS - Continued** 

**As of November 30, 2022 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number of <br> Contracts |  | Value |
|  | **WRITTEN OPTIONS CONTRACTS (Continued)** |  |
|  | **CALL OPTIONS (Continued)** |  |
| (9) | Exercise Price: $4,210.00, Notional Amount: $(3789000) <br> Expiration Date: December 16, 2022 | $(21420) |
|  | **TOTAL CALL OPTIONS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Proceeds $37,096) | **(53910)** |
|  | **TOTAL WRITTEN OPTIONS CONTRACTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Proceeds $37,096) | $**(53910)** |

---

ETF - Exchange-Traded Fund

LLC - Limited Liability Company

LP - Limited Partnership

PLC - Public Limited Company

<sup>1</sup> Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional buyers. The total value of these securities is $3,545,310, which represents 5.1% of total net assets of the Fund.

<sup>2</sup> Callable.

<sup>3</sup> Foreign security denominated in U.S. Dollars.

<sup>4</sup> Variable rate security.

<sup>5</sup> All or a portion of this security is segregated as collateral for securities sold short. The market value of the securities pledged as collateral was $4,093,200, which represents 5.91% of total net assets of the Fund.

<sup>6</sup> The rate is the annualized seven-day yield at period end.

**Securian AM Balanced Stabilization Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of November 30, 2022 (Unaudited)**

**FUTURES CONTRACTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of Contracts<br> Long (Short)**  | **Description** | **Expiration Date** | **Notional Value** | **Value at<br> November 30, 2022** | **Unrealized Appreciation (Depreciation)** |
| (44) | E-mini S&P 500 Index | December 2022 | $(8633578) | $(8978750) | $(345172) |
| **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | $**(8633578)** | $**(8978750)** | $**(345172)** |

---

**Securian AM Equity Stabilization Fund**

**SCHEDULE OF INVESTMENTS**

**As of November 30, 2022 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number of<br> Shares |  | Value |
|  | **EXCHANGE-TRADED FUNDS — 91.9%** |  |
| 13975 | BlackRock Short Maturity Bond ETF | $688688 |
| 24382 | iShares Core High Dividend ETF | 2637889 |
| 54711 | iShares MSCI EAFE Min Vol Factor ETF | 3520653 |
| 16756 | iShares MSCI Emerging Markets Min Vol Factor ETF | 919569 |
| 28246 | iShares MSCI Germany ETF | 717166 |
| 62299 | iShares MSCI USA Min Vol Factor ETF<sup>1</sup> | 4688623 |
|  | **TOTAL EXCHANGE-TRADED FUNDS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $9,315,307) | **13172588** |

---

---

| | | |
|:---|:---|:---|
| Number of<br> Contracts |  |  |
|  | **PURCHASED OPTIONS CONTRACTS — 0.4%** |  |
|  | **CALL OPTIONS — 0.4%** |  |
|  | S&P 500 |  |
| 2 | Exercise Price: $3,970.00, Notional Amount: $794,000 <br> Expiration Date: December 16, 2022 | 29632 |
| 2 | Exercise Price: $4,010.00, Notional Amount: $802,000 <br> Expiration Date: December 16, 2022 | 23620 |
|  | **TOTAL CALL OPTIONS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $35,211) | **53252** |
|  | **TOTAL PURCHASED OPTIONS CONTRACTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $35,211) | **53252** |

---

---

| | | |
|:---|:---|:---|
| Number of<br> Shares |  |  |
|  | **SHORT-TERM INVESTMENTS — 7.8%** |  |
| 1113318 | Morgan Stanley Institutional Liquidity Fund - Government Portfolio, 3.57%<sup>2</sup> | 1113318 |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,113,318) | **1113318** |
|  | **TOTAL INVESTMENTS — 100.1%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $10,463,836) | **14339158** |
|  | Liabilities in Excess of Other Assets — (0.1)% | (7788) |
|  | **TOTAL NET ASSETS — 100.0%** | $**14331370** |

---

---

| | | |
|:---|:---|:---|
| Number of<br> Contracts |  |  |
|  | **WRITTEN OPTIONS CONTRACTS — (0.1)%** |  |
|  | **CALL OPTIONS — (0.1)%** |  |
|  | S&P 500 |  |
| (2) | Exercise Price: $4,170.00, Notional Amount: $(834000) <br> Expiration Date: December 16, 2022 | (7220) |

---

**Securian AM Equity Stabilization Fund** 

**SCHEDULE OF INVESTMENTS - Continued** 

**As of November 30, 2022 (Unaudited)**

---

| | | |
|:---|:---|:---|
| Number of<br> Contracts |  | Value |
|  | **WRITTEN OPTIONS CONTRACTS (Continued)** |  |
|  | **CALL OPTIONS (Continued)** |  |
| (2) | Exercise Price: $4,210.00, Notional Amount: $(842000) <br> Expiration Date: December 16, 2022 | $(4760) |
|  | **TOTAL CALL OPTIONS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Proceeds $8,223) | **(11980)** |
|  | **TOTAL WRITTEN OPTIONS CONTRACTS** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Proceeds $8,223) | $**(11980)** |

---

ETF - Exchange-Traded Fund

 

<sup>1</sup> All or a portion of this security is segregated as collateral for securities sold short. The market value of the securities pledged as collateral was $752,600, which represents 5.25% of total net assets of the Fund.

<sup>2</sup> The rate is the annualized seven-day yield at period end.

**Securian AM Equity Stabilization Fund**

**SCHEDULE OF INVESTMENTS - Continued**

**As of November 30, 2022 (Unaudited)**

**FUTURES CONTRACTS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of Contracts Long (Short)** | **Description** | **Expiration Date** | **Value at<br> Trade Date** | **Value at <br> November 30, 2022** | **Unrealized Appreciation (Depreciation)** |
| (9) | E-mini S&P 500 Index | December 2022 | $(1727605) | $(1836563) | $(108958) |
| **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | $**(1727605)** | $**(1836563)** | $**(108958)** |

---

## 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:** Securian AM Equity Stabilization Fund

- **b. EDGAR series identifier (if any):** S000069988

- **c. LEI of Series:** 549300RDHL3RPKIPL494

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $14418652.83

**Total Liabilities:** $70413.92

**Net Assets:** $14348238.91

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222859 | -5.45%               | 3.90%                | 5.97%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $53081.05                | $-1082589.40                               |
| Month 2  | $75714.91                | $705817.45                                 |
| Month 3  | $105274.97               | $792853.68                                 |

**Designated Index Information**

- **Index Name:** S&P 500 Index

- **Index Identifier:** SPX

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| VIXW 11/30/22 P24 11/22  24.0 PUT   /    | VIXW 11/30/22 P24 11/22  24.0 PUT   /                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               |  | US        |       115 | NC      | $19320.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| VIXW 11/30/22 P15 11/22  15.0 PUT   /    | VIXW 11/30/22 P15 11/22  15.0 PUT   /                    | CUSIP: 999999999<br>LEI: N/A                  | Short            | DE               |  | US        |      -115 | NC      | $-115.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SPXW 12/16/22 C3970 12/22 3970.0 CAL   / | SPXW 12/16/22 C3970 12/22 3970.0 CAL   /                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               |  | US        |         2 | NC      | $29632.00     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SPXW 12/16/22 C4010 12/22 4010.0 CAL   / | SPXW 12/16/22 C4010 12/22 4010.0 CAL   /                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               |  | US        |         2 | NC      | $23620.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SPXW 12/16/22 C4170 12/22 4170.0 CAL   / | SPXW 12/16/22 C4170 12/22 4170.0 CAL   /                 | CUSIP: 999999999<br>LEI: N/A                  | Short            | DE               |  | US        |        -2 | NC      | $-7220.00     | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| SPXW 12/16/22 C4210 12/22 4210.0 CAL   / | SPXW 12/16/22 C4210 12/22 4210.0 CAL   /                 | CUSIP: 999999999<br>LEI: N/A                  | Short            | DE               |  | US        |        -2 | NC      | $-4760.00     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Emerging Markets            | iShares MSCI Emerging Markets Min Vol Factor ETF         | CUSIP: 464286533<br>LEI: N/A                  | Long             |  | RF                | US        |     16756 | NS      | $919569.28    | 6.41%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI EAFE Min Vol Fact           | iShares MSCI EAFE Min Vol Factor ETF                     | CUSIP: 46429B689<br>LEI: 549300N5K4JSWEZ74544 | Long             |  | RF                | US        |     54711 | NS      | $3520652.85   | 24.54%            |  |  |  | No            |                  1 | On Loan: No      |
| S&P 500 EMINI FUT DECEMBER 2022   /      | S&P 500 EMINI FUT DECEMBER 2022   /                      | CUSIP: 999999999<br>LEI: N/A                  | Short            | DE               |  | US        |        -9 | NC      | $-108985.31   | -0.76%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Germany ETF                 | iShares MSCI Germany ETF                                 | CUSIP: 464286806<br>LEI: 5493004D0K60CDIFRQ61 | Long             |  | RF                | US        |     28246 | NS      | $717165.94    | 5.00%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core High Dividend ETF           | iShares Core High Dividend ETF                           | CUSIP: 46429B663<br>LEI: 549300M7WVLJWAVPDO86 | Long             |  | RF                | US        |     24382 | NS      | $2637888.58   | 18.38%            |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio               | MSILF Government Portfolio - Class Institutional USD INC | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |   1245294 | PA      | $1245294.23   | 8.68%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Short Maturity Bond            | BlackRock Short Maturity Bond ETF                        | CUSIP: 46431W507<br>LEI: 549300BV2WH8444C2Y33 | Long             |  | RF                | US        |     13975 | NS      | $688688.00    | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI USA Min Vol Facto           | iShares MSCI USA Min Vol Factor ETF                      | CUSIP: 46429B697<br>LEI: 54930006KUZN6GLGL496 | Long             |  | RF                | US        |     62299 | NS      | $4688622.74   | 32.68%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-15

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

**Signature:** /s/ Terrance P. Gallagher

**Name of Signer:** Terrance P. Gallagher

**Title:** Assistant Vice President