# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001193125-26-075161
**Filing Date:** 2026-2
**Character Count:** 11036
**Document Hash:** 465f0383fecdebde9176266b43f79ec5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-075161.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001193125-26-075161

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**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:** 26684577

**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

### Ironclad Managed Risk Fund (Series ID: S000030132)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000092548 | Ironclad Managed Risk Fund | IRONX           |

## Nport-Ex

#### Ironclad Managed Risk Fund

#### SCHEDULE OF INVESTMENTS

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

------

---

| | | |
|:---|:---|:---|
| Number<br> of Shares |  | Value |
|  | **EXCHANGE-TRADED FUNDS – 98.1%** |  |
| 155164 | iShares Core S&P 500 ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$106278030 |
| 6805 | SPDR S&P 500 ETF Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4640466 |
| 164258 | Vanguard S&P 500 ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103011119 |
|  | **TOTAL EXCHANGE-TRADED FUNDS** |  |
|  | (Cost $144,218,305) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**213929615** |

---

---

| | | |
|:---|:---|:---|
| Number<br> of Contracts |  |  |
|  | **PURCHASED OPTIONS CONTRACTS – 1.7%** |  |
|  | **CALL OPTIONS – 0.2%** |  |
|  | S&P 500 Index |  |
| 200 | Exercise Price: $7,300.00, Notional Amount: $146,000,000, Expiration Date: March 20, 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476000 |
|  | **TOTAL CALL OPTIONS** |  |
|  | (Cost $880,192) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**476000** |
|  | **PUT OPTIONS – 1.5%** |  |
|  | S&P 500 Index |  |
| 198 | Exercise Price: $6,650.00, Notional Amount: $131,670,000, Expiration Date: March 20, 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008710 |
| 116 | Exercise Price: $6,700.00, Notional Amount: $77,720,000, Expiration Date: March 20, 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1306740 |
|  | **TOTAL PUT OPTIONS** |  |
|  | (Cost $3,790,911) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3315450** |
|  | **TOTAL PURCHASED OPTIONS CONTRACTS** |  |
|  | (Cost $4,671,103) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3791450** |

---

---

| | | |
|:---|:---|:---|
| Principal<br> Amount |  |  |
|  | **SHORT-TERM INVESTMENTS–0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1418496 | UMB Bank, Institutional Banking Money Market II Deposit Investment, 3.06%<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418496 |
|  | **TOTAL SHORT-TERM INVESTMENTS** |  |
|  | (Cost $1,418,496) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1418496** |
|  | **TOTAL INVESTMENTS – 100.5%** |  |
|  | (Cost $150,307,904) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**219139561** |
|  | Liabilities in Excess of Other Assets – (0.5)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1023411) |
|  | **TOTAL NET ASSETS – 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$218116150** |

---

------

#### Ironclad Managed Risk Fund

#### SCHEDULE OF INVESTMENTS - Continued

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

------

---

| | | |
|:---|:---|:---|
| Number<br> of Contracts |  | Value |
|  | **WRITTEN OPTIONS CONTRACTS – (0.6)%** |  |
|  | **PUT OPTIONS – (0.6)%** |  |
|  | S&P 500 Index |  |
| (198) | Exercise Price: $6,150.00, Notional Amount: $(121770000), Expiration Date: March 20, 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(762300) |
| (116) | Exercise Price: $6,200.00, Notional Amount: $(71920000), Expiration Date: March 20, 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(489520) |
|  | **TOTAL PUT OPTIONS** |  |
|  | (Proceeds $1,627,268) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1251820)** |
|  | **TOTAL WRITTEN OPTIONS CONTRACTS** |  |
|  | (Proceeds $1,627,268) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(1251820)** |

---

ETF – Exchange-Traded Fund

<sup>1</sup>The rate is the annualized seven-day yield at period end.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** INVESTMENT MANAGERS SERIES TRUST

- **b. Investment Company Act file number:** 811-21719

- **c. CIK number of Registrant:** 0001318342

- **d. LEI of Registrant:** 549300ESWU4ZNAH5Y054

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 235 WEST GALENA STREET

  - **City:** MILWAUKEE

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 532123948

  - **Telephone number:** 4142992000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Ironclad Managed Risk Fund

- **b. EDGAR series identifier (if any):** S000030132

- **c. LEI of Series:** 549300BTO328LME8TL55

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $221572195.57

**Total Liabilities:** $3686700.76

**Net Assets:** $217885494.81

**Cash Not Reported:** $465224.65

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000092548 | 1.80%                | -0.07%               | -0.75%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $5027673.20                                |
| Month 2  | $225756.48               | $242588.04                                 |
| Month 3  | $383484.75               | $-898734.25                                |

**Designated Index Information**

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

- **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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SPX 03/20/26 C7300 03/26 7300.0 CAL   / | SPX 03/20/26 C7300 03/26 7300.0 CAL   / | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               |  | US        |       200 | NC      | $476000.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX 03/20/26 P6650 03/26 6650.0 PUT   / | SPX 03/20/26 P6650 03/26 6650.0 PUT   / | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               |  | US        |       198 | NC      | $2008710.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX 03/20/26 P6700 03/26 6700.0 PUT   / | SPX 03/20/26 P6700 03/26 6700.0 PUT   / | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               |  | US        |       116 | NC      | $1306740.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX 03/20/26 P6150 03/26 6150.0 PUT   / | SPX 03/20/26 P6150 03/26 6150.0 PUT   / | CUSIP: 999999999<br>LEI: N/A                  | Short            | DE               |  | US        |      -198 | NC      | $-762300.00   | -0.35%            |  |  |  | No            |                  1 | On Loan: No      |
| SPX 03/20/26 P6200 03/26 6200.0 PUT   / | SPX 03/20/26 P6200 03/26 6200.0 PUT   / | CUSIP: 999999999<br>LEI: N/A                  | Short            | DE               |  | US        |      -116 | NC      | $-489520.00   | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| UMB IB MONEY MARKET II   /              | UMB IB MONEY MARKET II   /              | CUSIP: SF8888627<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1323868 | PA      | $1323867.54   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core S&P 500 ETF                | iShares Core S&P 500 ETF - ETF          | CUSIP: 464287200<br>LEI: 5493007M4YMN8XL48C14 | Long             |  | RF                | US        |    155164 | NS      | $106278030.16 | 48.78%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                  | SPDR S&P 500 ETF Trust - ETF            | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             |  | RF                | US        |      6805 | NS      | $4640465.60   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard S&P 500 ETF                    | Vanguard S&P 500 ETF - ETF              | CUSIP: 922908363<br>LEI: N/A                  | Long             |  | RF                | US        |    164258 | NS      | $103011119.54 | 47.28%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-08

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

**Signature:** /s/ Maureen Quill

**Name of Signer:** Maureen Quill

**Title:** President