# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001145549-23-007238
**Filing Date:** 2023-2
**Character Count:** 39505
**Document Hash:** 57c11149b2ed2d4cc741738c74ec54bf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-007238.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001145549-23-007238

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20221231

**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:** 23647788

**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

### Aristotle Small Cap Equity Fund (Series ID: S000051355)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000161895 | Class I Shares | ARSBX           |

## 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:** Aristotle Small Cap Equity Fund

- **b. EDGAR series identifier (if any):** S000051355

- **c. LEI of Series:** 549300V2S3T7DH6FEE78

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $190802289.36

**Total Liabilities:** $236231.04

**Net Assets:** $190566058.32

**Cash Not Reported:** $169513.54

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161895 | 13.75%               | 3.71%                | -4.98%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $952987.57               | $22703274.30                               |
| Month 2  | $-19869.79               | $7152730.31                                |
| Month 3  | $710563.45               | $-10743756.68                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Acadia Healthcare Co Inc       | Acadia Healthcare Co., Inc.                                | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |     60903 | NS      | $5013534.96   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide Inc              | ACI Worldwide, Inc.                                        | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |     84128 | NS      | $1934944.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia Inc                      | Adeia, Inc.                                                | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47813 | NS      | $453267.24    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc | Advanced Energy Industries, Inc.                           | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |     33586 | NS      | $2881007.08   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV             | AerCap Holdings N.V.                                       | CUSIP: N00985106<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | IE        |     53276 | NS      | $3107056.32   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                | Alamos Gold, Inc. - Class A                                | CUSIP: 011532108<br>LEI: 549300TDOX73YGYXE959 | Long             | EC               | CORP              | CA        |    105397 | NS      | $1065563.67   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Armada Hoffler Properties Inc  | Armada Hoffler Properties, Inc. - REIT                     | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             |  | CORP              | US        |    104522 | NS      | $1202003.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Altra Industrial Motion Corp   | Altra Industrial Motion Corp.                              | CUSIP: 02208R106<br>LEI: NQ0NIXPGW4YKG4MWM571 | Long             | EC               | CORP              | US        |     47236 | NS      | $2822351.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Albany International Corp      | Albany International Corp. - Class A                       | CUSIP: 012348108<br>LEI: L73WCPNCZIRSQGZTW097 | Long             | EC               | CORP              | US        |     30501 | NS      | $3007093.59   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLETE Inc                     | ALLETE, Inc.                                               | CUSIP: 018522300<br>LEI: 549300NNLSIMY6Z8OT86 | Long             | EC               | CORP              | US        |     42654 | NS      | $2751609.54   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Ardmore Shipping Corp          | Ardmore Shipping Corp.                                     | CUSIP: Y0207T100<br>LEI: 549300J8HD7K6BHD8O28 | Long             | EC               | CORP              | IE        |    254724 | NS      | $3670572.84   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ASGN Inc                       | ASGN, Inc.                                                 | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               | CORP              | US        |     34470 | NS      | $2808615.60   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ATN International Inc          | ATN International, Inc.                                    | CUSIP: 00215F107<br>LEI: 54930013NP7VEU877V56 | Long             | EC               | CORP              | US        |     29396 | NS      | $1331932.76   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| AZEK Co Inc/The                | AZEK Co., Inc.                                             | CUSIP: 05478C105<br>LEI: 5493002LDDDU1RX46815 | Long             | EC               | CORP              | US        |     63130 | NS      | $1282801.60   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Technology Inc           | Aspen Technology, Inc.                                     | CUSIP: 29109X106<br>LEI: 254900545H80W6GA2J08 | Long             | EC               | CORP              | US        |      6727 | NS      | $1381725.80   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                        | AZZ, Inc.                                                  | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |     20765 | NS      | $834753.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Barnes Group Inc               | Barnes Group, Inc.                                         | CUSIP: 067806109<br>LEI: G1MSYD2DQZX30V5DMX12 | Long             | EC               | CORP              | US        |     58334 | NS      | $2382943.90   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Banner Corp                    | Banner Corp.                                               | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19772 | NS      | $1249590.40   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc                     | Belden, Inc.                                               | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     35616 | NS      | $2560790.40   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Benchmark Electronics Inc      | Benchmark Electronics, Inc.                                | CUSIP: 08160H101<br>LEI: 549300W18RHYZOZKOP53 | Long             | EC               | CORP              | US        |     56206 | NS      | $1500138.14   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hills Bancorp Inc    | Berkshire Hills Bancorp, Inc.                              | CUSIP: 084680107<br>LEI: 549300AS2OC6UMMBNO37 | Long             | EC               | CORP              | US        |     24190 | NS      | $723281.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc                 | BankUnited, Inc.                                           | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |     40870 | NS      | $1388353.90   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Box Inc                        | Box, Inc.                                                  | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |     82770 | NS      | $2576630.10   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BRP Group Inc                  | BRP Group, Inc. - Class A                                  | CUSIP: 05589G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     78072 | NS      | $1962730.08   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Byline Bancorp Inc             | Byline Bancorp, Inc.                                       | CUSIP: 124411109<br>LEI: 549300W7ODP4YL2H4823 | Long             | EC               | CORP              | US        |    100512 | NS      | $2308760.64   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CalAmp Corp                    | CalAmp Corp.                                               | CUSIP: 128126109<br>LEI: 5493007SIGZIX83TOW07 | Long             | EC               | CORP              | US        |    150578 | NS      | $674589.44    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Cross Country Healthcare Inc   | Cross Country Healthcare, Inc.                             | CUSIP: 227483104<br>LEI: 54930037L0NBIPZ5S663 | Long             | EC               | CORP              | US        |     92356 | NS      | $2453898.92   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Avid Bioservices Inc           | Avid Bioservices, Inc.                                     | CUSIP: 05368M106<br>LEI: 549300GRUS3ZMGP8MX22 | Long             | EC               | CORP              | US        |     55920 | NS      | $770018.40    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust Inc | Community Healthcare Trust, Inc. - REIT                    | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             |  | CORP              | US        |     50870 | NS      | $1821146.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                    | Chemed Corp.                                               | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      5582 | NS      | $2849220.26   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs' Warehouse Inc/The       | Chefs' Warehouse, Inc.                                     | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |     23235 | NS      | $773260.80    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherus Biosciences Inc        | Coherus Biosciences, Inc.                                  | CUSIP: 19249H103<br>LEI: 5493007IL8W5MV932D26 | Long             | EC               | CORP              | US        |    118893 | NS      | $941632.56    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbus McKinnon Corp/NY      | Columbus McKinnon Corp.                                    | CUSIP: 199333105<br>LEI: 549300W3HQB0HO1F3G69 | Long             | EC               | CORP              | US        |     46304 | NS      | $1503490.88   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital Product Partners LP    | Capital Product Partners LP                                | CUSIP: Y11082206<br>LEI: 254900YICSDPQCJS9616 | Long             |  | CORP              | GR        |     38299 | NS      | $522781.35    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter's Inc                   | Carter's, Inc.                                             | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |     32801 | NS      | $2447282.61   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories Int | Charles River Laboratories International, Inc.             | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |      8610 | NS      | $1876119.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp Inc          | Customers Bancorp, Inc.                                    | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |     49675 | NS      | $1407789.50   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc      | Casella Waste Systems, Inc. - Class A                      | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |     24257 | NS      | $1923822.67   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Designer Brands Inc            | Designer Brands, Inc. - Class A                            | CUSIP: 250565108<br>LEI: 549300X8J6FI8PPRK859 | Long             | EC               | CORP              | US        |    104833 | NS      | $1025266.74   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc           | Dycom Industries, Inc.                                     | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |     39277 | NS      | $3676327.20   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc          | Euronet Worldwide, Inc.                                    | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     22633 | NS      | $2136102.54   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Enhabit Inc                    | Enhabit, Inc.                                              | CUSIP: 29332G102<br>LEI: 549300RFQ78SLDFSHF49 | Long             | EC               | CORP              | US        |     21580 | NS      | $283992.80    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| eHealth Inc                    | eHealth, Inc.                                              | CUSIP: 28238P109<br>LEI: 5299003O8Y5OKXUZQ421 | Long             | EC               | CORP              | US        |     30063 | NS      | $145504.92    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting Inc             | FTI Consulting, Inc.                                       | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |      6678 | NS      | $1060466.40   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Flushing Financial Corp        | Flushing Financial Corp.                                   | CUSIP: 343873105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60330 | NS      | $1169195.40   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financial Square | Goldman Sachs Financial Square Government Fund - Class FST | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |   4778382 | PA      | $4778382.07   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| 1-800-Flowers.com Inc          | 1-800-Flowers.com, Inc. - Class A                          | CUSIP: 68243Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115213 | NS      | $1101436.28   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp               | Haemonetics Corp.                                          | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |     17319 | NS      | $1362139.35   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Nutrition Ltd        | Herbalife Nutrition Ltd.                                   | CUSIP: G4412G101<br>LEI: 549300BA7TYPBSZZIA41 | Long             | EC               | CORP              | US        |     59396 | NS      | $883812.48    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc               | HealthEquity, Inc.                                         | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     32675 | NS      | $2014087.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Harsco Corp                    | Harsco Corp.                                               | CUSIP: 415864107<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | EC               | CORP              | US        |    131233 | NS      | $825455.57    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Huron Consulting Group Inc     | Huron Consulting Group, Inc.                               | CUSIP: 447462102<br>LEI: 549300NGVB9H6TKTLE36 | Long             | EC               | CORP              | US        |     55977 | NS      | $4063930.20   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 2000 Value ETF | iShares Russell 2000 Value ETF - ETF                       | CUSIP: 464287630<br>LEI: 549300WJAJCAZZLTQD63 | Long             |  | RF                | US        |     11267 | NS      | $1562394.89   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| JBG SMITH Properties           | JBG SMITH Properties - REIT                                | CUSIP: 46590V100<br>LEI: N/A                  | Long             |  | CORP              | US        |     25112 | NS      | $476625.76    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| J & J Snack Foods Corp         | J & J Snack Foods Corp.                                    | CUSIP: 466032109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8314 | NS      | $1244688.94   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Home                        | KB Home                                                    | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |     31918 | NS      | $1016588.30   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                        | KBR, Inc.                                                  | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     56581 | NS      | $2987476.80   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Knowles Corp                   | Knowles Corp.                                              | CUSIP: 49926D109<br>LEI: 5493003EO323TDZQU148 | Long             | EC               | CORP              | US        |    130512 | NS      | $2143007.04   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidity Services Inc         | Liquidity Services, Inc.                                   | CUSIP: 53635B107<br>LEI: 5299002AZ4ULSAXN0G81 | Long             | EC               | CORP              | US        |     55167 | NS      | $775648.02    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Matthews International Corp    | Matthews International Corp. - Class A                     | CUSIP: 577128101<br>LEI: 549300ZVC5O0ATML6U61 | Long             | EC               | CORP              | US        |     57612 | NS      | $1753709.28   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc    | Pediatrix Medical Group, Inc.                              | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43379 | NS      | $644611.94    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc      | Merit Medical Systems, Inc.                                | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |     53866 | NS      | $3804016.92   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Monro Inc                      | Monro, Inc.                                                | CUSIP: 610236101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42145 | NS      | $1904954.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ModivCare Inc                  | ModivCare, Inc.                                            | CUSIP: 60783X104<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | EC               | CORP              | US        |     28275 | NS      | $2537115.75   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc            | Mercury Systems, Inc.                                      | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |     42211 | NS      | $1888520.14   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Hol | MACOM Technology Solutions Holdings, Inc.                  | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51507 | NS      | $3243910.86   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank Holdings Corp    | National Bank Holdings Corp. - Class A                     | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76746 | NS      | $3228704.22   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| NexTier Oilfield Solutions Inc | NexTier Oilfield Solutions, Inc.                           | CUSIP: 65290C105<br>LEI: 529900L27H2D4QT0IT24 | Long             | EC               | CORP              | US        |    251827 | NS      | $2326881.48   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                    | Novanta, Inc.                                              | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15319 | NS      | $2081392.53   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises Inc        | Insight Enterprises, Inc.                                  | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |     20655 | NS      | $2071076.85   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Nu Skin Enterprises Inc        | Nu Skin Enterprises, Inc. - Class A                        | CUSIP: 67018T105<br>LEI: 54930050DETB6CP71D38 | Long             | EC               | CORP              | US        |     44879 | NS      | $1892098.64   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Oceaneering International Inc  | Oceaneering International, Inc.                            | CUSIP: 675232102<br>LEI: 549300L6PH74701W0R30 | Long             | EC               | CORP              | US        |    112870 | NS      | $1974096.30   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PacWest Bancorp                | PacWest Bancorp                                            | CUSIP: 695263103<br>LEI: 549300YI8VMFO7G36V04 | Long             | EC               | CORP              | US        |     44077 | NS      | $1011567.15   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Prestige Consumer Healthcare I | Prestige Consumer Healthcare, Inc.                         | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42059 | NS      | $2632893.40   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| PetIQ Inc                      | PetIQ, Inc.                                                | CUSIP: 71639T106<br>LEI: 549300GROACFGKVYOX14 | Long             | EC               | CORP              | US        |     65939 | NS      | $607957.58    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacific Premier Bancorp Inc    | Pacific Premier Bancorp, Inc.                              | CUSIP: 69478X105<br>LEI: 549300Q1KIC3KLI0XG98 | Long             | EC               | CORP              | US        |     50558 | NS      | $1595610.48   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| QuidelOrtho Corp               | QuidelOrtho Corp.                                          | CUSIP: 219798105<br>LEI: 549300YU8CMO9HF53113 | Long             | EC               | CORP              | US        |     21033 | NS      | $1801897.11   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Ring Energy Inc                | Ring Energy, Inc.                                          | CUSIP: 76680V108<br>LEI: 549300HMY6TJ265I8S64 | Long             | EC               | CORP              | US        |    246082 | NS      | $605361.72    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Corp                    | Rogers Corp.                                               | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |      3718 | NS      | $443706.12    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Safehold Inc                   | Safehold, Inc. - REIT                                      | CUSIP: 78645L100<br>LEI: 549300MHMP6BIE0XV355 | Long             |  | CORP              | US        |      8038 | NS      | $230047.56    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Signature Bank/New York NY     | Signature Bank/New York NY                                 | CUSIP: 82669G104<br>LEI: VLP5AP0XK2GM6GKD1007 | Long             | EC               | CORP              | US        |     12698 | NS      | $1463063.56   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings Inc            | Silgan Holdings, Inc.                                      | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |     43406 | NS      | $2250167.04   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonos Inc                      | Sonos, Inc.                                                | CUSIP: 83570H108<br>LEI: 549300WEPU6075I77M08 | Long             | EC               | CORP              | US        |     97997 | NS      | $1656149.30   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| SP Plus Corp                   | SP Plus Corp.                                              | CUSIP: 78469C103<br>LEI: 0IDE18EMH1CUKQCUYE69 | Long             | EC               | CORP              | US        |     72377 | NS      | $2512929.44   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc            | STAG Industrial, Inc. - REIT                               | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             |  | CORP              | US        |     76222 | NS      | $2462732.82   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| iStar Inc                      | iStar, Inc. - REIT                                         | CUSIP: 45031U101<br>LEI: QFFLKWYYS3UPWD86E794 | Long             |  | CORP              | US        |    105012 | NS      | $801241.56    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Materials Inc           | Summit Materials, Inc. - Class A                           | CUSIP: 86614U100<br>LEI: 549300XNOLX5GIOSO108 | Long             | EC               | CORP              | US        |     51582 | NS      | $1464419.79   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Infinera Corp                  | Infinera Corp.                                             | CUSIP: 45667G103<br>LEI: 549300ZOF66WPV3H0H17 | Long             | EC               | CORP              | US        |    164980 | NS      | $1111965.20   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| International Seaways Inc      | International Seaways, Inc.                                | CUSIP: Y41053102<br>LEI: 549300YUFDGFRNGBWF46 | Long             | EC               | CORP              | US        |     29561 | NS      | $1094348.22   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron Inc                      | Itron, Inc.                                                | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |     48529 | NS      | $2457993.85   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 2000 ETF       | iShares Russell 2000 ETF - ETF                             | CUSIP: 464287655<br>LEI: 549300O80OAR5VTWR172 | Long             |  | RF                | US        |      9066 | NS      | $1580747.76   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals Inc   | Supernus Pharmaceuticals, Inc.                             | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |     63701 | NS      | $2272214.67   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc   | Texas Capital Bancshares, Inc.                             | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |     29706 | NS      | $1791568.86   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| TreeHouse Foods Inc            | TreeHouse Foods, Inc.                                      | CUSIP: 89469A104<br>LEI: 5493007M7EVHE470Q576 | Long             | EC               | CORP              | US        |     42767 | NS      | $2111834.46   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan Machinery Inc            | Titan Machinery, Inc.                                      | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |     37266 | NS      | $1480578.18   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| United Community Banks Inc/GA  | United Community Banks, Inc.                               | CUSIP: 90984P303<br>LEI: 549300GVW0FV66X3U703 | Long             | EC               | CORP              | US        |     50133 | NS      | $1694495.40   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| US Xpress Enterprises Inc      | U.S. Xpress Enterprises, Inc. - Class A                    | CUSIP: 90338N202<br>LEI: 549300NXY19K1OZN4915 | Long             | EC               | CORP              | US        |    259694 | NS      | $470046.14    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Unitil Corp                    | Unitil Corp.                                               | CUSIP: 913259107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51278 | NS      | $2633638.08   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Veritex Holdings Inc           | Veritex Holdings, Inc.                                     | CUSIP: 923451108<br>LEI: 549300F3SMOML02SC814 | Long             | EC               | CORP              | US        |     66582 | NS      | $1869622.56   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc             | Voya Financial, Inc.                                       | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     28668 | NS      | $1762795.32   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Viad Corp                      | Viad Corp.                                                 | CUSIP: 92552R406<br>LEI: 549300PXU4ZW7LPO5Y40 | Long             | EC               | CORP              | US        |     54421 | NS      | $1327328.19   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Westinghouse Air Brake Technol | Westinghouse Air Brake Technologies Corp.                  | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |     24190 | NS      | $2414403.90   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp           | Wabash National Corp.                                      | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |     67398 | NS      | $1523194.80   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Mobile Mini Holdings  | WillScot Mobile Mini Holdings Corp.                        | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |     59347 | NS      | $2680703.99   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| WWE                            | World Wrestling Entertainment, Inc. - Class A              | CUSIP: 98156Q108<br>LEI: 549300WZVLSCS3L4L698 | Long             | EC               | CORP              | US        |     23530 | NS      | $1612275.60   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolverine World Wide Inc       | Wolverine World Wide, Inc.                                 | CUSIP: 978097103<br>LEI: 549300OVC7PK14LQ8D87 | Long             | EC               | CORP              | US        |     55158 | NS      | $602876.94    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-19

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

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

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

**Title:** Assistant Vice President