# EDGAR Filing Document

**Accession Number:** 0001318342
**File Stem:** 0001145549-23-002508
**Filing Date:** 2023-1
**Character Count:** 37280
**Document Hash:** 5fab61214a3210a6cb04aee620c395a5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-002508.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001145549-23-002508

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**PERIOD START**: 20221130

**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:** 23548061

**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

### Zacks Small-Cap Core Fund (Series ID: S000032900)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000101542 | Investor Class      | ZSCCX           |
| C000138525 | Institutional Class | ZSCIX           |

## 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:** Zacks Small-Cap Core Fund

- **b. EDGAR series identifier (if any):** S000032900

- **c. LEI of Series:** 549300W4JEUN5NKSWH67

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

- **a. Date of fiscal year-end:** 2022-11-30

- **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:** $40094105.14

**Total Liabilities:** $2322294.28

**Net Assets:** $37771810.86

**Cash Not Reported:** $18151.60

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000101542 | -7.26%               | 12.20%               | 1.61%                |
| Class ID C000138525 | -7.26%               | 12.18%               | 1.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-3027116.04                               |
| Month 2  | $-640931.00              | $5014674.02                                |
| Month 3  | $-26148.13               | $606640.83                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| American Assets Trust Inc      | American Assets Trust, Inc. - REIT              | CUSIP: 024013104<br>LEI: N/A                  | Long             |  | CORP              | US        |     10566 | NS      | $309478.14    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                   | Agilysys, Inc.                                  | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |      8287 | NS      | $550256.80    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Armada Hoffler Properties Inc  | Armada Hoffler Properties, Inc. - REIT          | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             |  | CORP              | US        |     28079 | NS      | $341159.85    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie | Applied Industrial Technologies, Inc.           | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      5075 | NS      | $672386.75    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Alignment Healthcare Inc       | Alignment Healthcare, Inc.                      | CUSIP: 01625V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36546 | NS      | $486061.80    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| AssetMark Financial Holdings I | AssetMark Financial Holdings, Inc.              | CUSIP: 04546L106<br>LEI: 5493001K4EDHT2T6W812 | Long             | EC               | CORP              | US        |     19273 | NS      | $479126.78    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc           | Amkor Technology, Inc.                          | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |      8970 | NS      | $251339.40    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Allied Motion Technologies Inc | Allied Motion Technologies, Inc.                | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |      2954 | NS      | $104689.76    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Amerant Bancorp Inc            | Amerant Bancorp, Inc.                           | CUSIP: 023576101<br>LEI: 5493007OCZP75TGDUY32 | Long             | EC               | CORP              | US        |      5013 | NS      | $147682.98    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| AerSale Corp                   | AerSale Corp.                                   | CUSIP: 00810F106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33216 | NS      | $526473.60    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| American Vanguard Corp         | American Vanguard Corp.                         | CUSIP: 030371108<br>LEI: 529900GWI78WZA5M9783 | Long             | EC               | CORP              | US        |     20787 | NS      | $478101.00    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcella Health Inc             | Axcella Health, Inc.                            | CUSIP: 05454B105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104124 | NS      | $87505.81     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                        | AZZ, Inc.                                       | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |      4376 | NS      | $182172.88    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                   | Balchem Corp.                                   | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |      5263 | NS      | $741030.40    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| BTRS Holdings Inc              | BTRS Holdings, Inc.                             | CUSIP: 11778X104<br>LEI: 549300K51KDPS5MBVB54 | Long             | EC               | CORP              | US        |     68838 | NS      | $651895.86    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Byline Bancorp Inc             | Byline Bancorp, Inc.                            | CUSIP: 124411109<br>LEI: 549300W7ODP4YL2H4823 | Long             | EC               | CORP              | US        |     29228 | NS      | $666106.12    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter Bankshares Inc          | Carter Bankshares, Inc.                         | CUSIP: 146103106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14234 | NS      | $263898.36    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CBIZ Inc                       | CBIZ, Inc.                                      | CUSIP: 124805102<br>LEI: 529900D5X8CFM8O1N813 | Long             | EC               | CORP              | US        |     14956 | NS      | $742565.40    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| CrossFirst Bankshares Inc      | CrossFirst Bankshares, Inc.                     | CUSIP: 22766M109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19107 | NS      | $265014.09    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohen & Steers Inc             | Cohen & Steers, Inc.                            | CUSIP: 19247A100<br>LEI: 549300XXIA338A0X2K65 | Long             | EC               | CORP              | US        |      9261 | NS      | $613541.25    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CRA International Inc          | CRA International, Inc.                         | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3257 | NS      | $401457.82    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc            | CSW Industrials, Inc.                           | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |      3775 | NS      | $456586.25    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Trust Bancorp Inc    | Community Trust Bancorp, Inc.                   | CUSIP: 204149108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15720 | NS      | $753145.20    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Corp                       | CTS Corp.                                       | CUSIP: 126501105<br>LEI: 549300YV1HQLBVHOI649 | Long             | EC               | CORP              | US        |      5692 | NS      | $241910.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Cvent Holding Corp             | Cvent Holding Corp.                             | CUSIP: 126677103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52561 | NS      | $294341.60    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy Inc            | Clearway Energy, Inc. - Class C                 | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |      3589 | NS      | $127194.16    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Inc                     | Diodes, Inc.                                    | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |      3186 | NS      | $293844.78    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| NOW Inc                        | NOW, Inc.                                       | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |     22000 | NS      | $274560.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Employers Holdings Inc         | Employers Holdings, Inc.                        | CUSIP: 292218104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16387 | NS      | $761503.89    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EQRx Inc                       | EQRx, Inc.                                      | CUSIP: 26886C107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55801 | NS      | $209811.76    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EngageSmart Inc                | EngageSmart, Inc.                               | CUSIP: 29283F103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14714 | NS      | $249696.58    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                       | Fabrinet                                        | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | TH        |      1200 | NS      | $160092.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Forestar Group Inc             | Forestar Group, Inc.                            | CUSIP: 346232101<br>LEI: 549300BC2UB0GHV60V70 | Long             | EC               | CORP              | US        |     13360 | NS      | $198128.80    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Forrester Research Inc         | Forrester Research, Inc.                        | CUSIP: 346563109<br>LEI: 549300UUSFXYLJ80Z897 | Long             | EC               | CORP              | US        |      2721 | NS      | $95724.78     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Griffon Corp                   | Griffon Corp.                                   | CUSIP: 398433102<br>LEI: 5493000C2SGNC7ZN3242 | Long             | EC               | CORP              | US        |     17819 | NS      | $629188.89    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Golar LNG Ltd                  | Golar LNG Ltd.                                  | CUSIP: G9456A100<br>LEI: 213800C2VSFZG3EZLO34 | Long             | EC               | CORP              | BM        |      7465 | NS      | $187147.55    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| GMS Inc                        | GMS, Inc.                                       | CUSIP: 36251C103<br>LEI: 52990057RENOQO4U0D72 | Long             | EC               | CORP              | US        |      8494 | NS      | $417055.40    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Guaranty Bancshares Inc/TX     | Guaranty Bancshares, Inc.                       | CUSIP: 400764106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5768 | NS      | $205340.80    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Gorman-Rupp Co/The             | Gorman-Rupp Co.                                 | CUSIP: 383082104<br>LEI: 254900WVLPOIWPGJPA07 | Long             | EC               | CORP              | US        |     16915 | NS      | $468207.20    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Southern Bancorp Inc     | Great Southern Bancorp, Inc.                    | CUSIP: 390905107<br>LEI: 5493000ZL7DLNMN1AB26 | Long             | EC               | CORP              | US        |      6617 | NS      | $414555.05    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Horizon Bancorp Inc/IN         | Horizon Bancorp, Inc.                           | CUSIP: 440407104<br>LEI: 549300U2OQ2EIT5MXG39 | Long             | EC               | CORP              | US        |     21108 | NS      | $343216.08    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| HBT Financial Inc              | HBT Financial, Inc.                             | CUSIP: 404111106<br>LEI: 549300NTXD4Q6UK5BY66 | Long             | EC               | CORP              | US        |     15258 | NS      | $299819.70    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand Inc                | Hillenbrand, Inc.                               | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |      6750 | NS      | $337500.00    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthStream Inc               | HealthStream, Inc.                              | CUSIP: 42222N103<br>LEI: 529900OJ88H8635JNH64 | Long             | EC               | CORP              | US        |     12570 | NS      | $319278.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawkins Inc                    | Hawkins, Inc.                                   | CUSIP: 420261109<br>LEI: 549300VL3IJ23OWX1Y34 | Long             | EC               | CORP              | US        |      4891 | NS      | $203465.60    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ICF International Inc          | ICF International, Inc.                         | CUSIP: 44925C103<br>LEI: 5493003KYFDDC5B3WY64 | Long             | EC               | CORP              | US        |      3693 | NS      | $400210.41    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Intapp Inc                     | Intapp, Inc.                                    | CUSIP: 45827U109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30791 | NS      | $711580.01    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Innospec Inc                   | Innospec, Inc.                                  | CUSIP: 45768S105<br>LEI: 213800SQBACNY5IWJO68 | Long             | EC               | CORP              | US        |      2168 | NS      | $240409.52    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Inter Parfums Inc              | Inter Parfums, Inc.                             | CUSIP: 458334109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4219 | NS      | $402028.51    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| iRadimed Corp                  | iRadimed Corp.                                  | CUSIP: 46266A109<br>LEI: 549300YVHWP0YJ1YW816 | Long             | EC               | CORP              | US        |      3402 | NS      | $100563.12    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Outdoors Inc           | Johnson Outdoors, Inc. - Class A                | CUSIP: 479167108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3498 | NS      | $197846.88    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                     | Korn Ferry                                      | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |      3386 | NS      | $193103.58    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| KnowBe4 Inc                    | KnowBe4, Inc. - Class A                         | CUSIP: 49926T104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9643 | NS      | $238085.67    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Latin America Ltd      | Liberty Latin America Ltd. - Class A            | CUSIP: G9001E102<br>LEI: 213800YWQHEAX7CAVO83 | Long             | EC               | CORP              | US        |     37990 | NS      | $294042.60    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc          | Lantheus Holdings, Inc.                         | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      1905 | NS      | $118262.40    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp     | Lattice Semiconductor Corp.                     | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |      3067 | NS      | $223369.61    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Monarch Casino & Resort Inc    | Monarch Casino & Resort, Inc.                   | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |      6223 | NS      | $528021.55    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc           | Medpace Holdings, Inc.                          | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      1585 | NS      | $332675.65    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| McGrath RentCorp               | McGrath RentCorp                                | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |      3991 | NS      | $391596.92    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB MONEY MARKET FIDUCIARY   / | UMB MONEY MARKET FIDUCIARY   /                  | CUSIP: SF8888528<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    343530 | PA      | $343530.44    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc      | Merit Medical Systems, Inc.                     | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |      2650 | NS      | $190800.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co        | Modine Manufacturing Co.                        | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      4600 | NS      | $97382.00     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MidWestOne Financial Group Inc | MidWestOne Financial Group, Inc.                | CUSIP: 598511103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6543 | NS      | $228285.27    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Marine Products Corp           | Marine Products Corp.                           | CUSIP: 568427108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8255 | NS      | $96170.75     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Materion Corp                  | Materion Corp.                                  | CUSIP: 576690101<br>LEI: 549300CJ5RI351SUYT02 | Long             | EC               | CORP              | US        |      2503 | NS      | $201641.68    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| NexTier Oilfield Solutions Inc | NexTier Oilfield Solutions, Inc.                | CUSIP: 65290C105<br>LEI: 529900L27H2D4QT0IT24 | Long             | EC               | CORP              | US        |     59171 | NS      | $602952.49    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of NT Butterfield & Son L | Bank of NT Butterfield & Son Ltd.               | CUSIP: G0772R208<br>LEI: 549300V8RVM0EMTDPF28 | Long             | EC               | CORP              | BM        |     18512 | NS      | $644217.60    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Origin Bancorp Inc             | Origin Bancorp, Inc.                            | CUSIP: 68621T102<br>LEI: 54930055DO2Z4KO3NB45 | Long             | EC               | CORP              | US        |      9021 | NS      | $369139.32    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health Inc         | Option Care Health, Inc.                        | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     21041 | NS      | $633544.51    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                    | Ovintiv, Inc.                                   | CUSIP: 69047Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13548 | NS      | $755436.48    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Peoples Bancorp Inc/OH         | Peoples Bancorp, Inc.                           | CUSIP: 709789101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8851 | NS      | $265530.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Peapack-Gladstone Financial Co | Peapack-Gladstone Financial Corp.               | CUSIP: 704699107<br>LEI: 549300G8DN2UK8K0ET30 | Long             | EC               | CORP              | US        |      6913 | NS      | $284953.86    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ePlus Inc                      | ePlus, Inc.                                     | CUSIP: 294268107<br>LEI: 529900FFY8AAFJ21NE91 | Long             | EC               | CORP              | US        |      7897 | NS      | $392165.02    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PowerSchool Holdings Inc       | PowerSchool Holdings, Inc. - Class A            | CUSIP: 73939C106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13678 | NS      | $279167.98    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Bancorp Inc/KY        | Republic Bancorp, Inc. - Class A                | CUSIP: 760281204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9251 | NS      | $407691.57    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Enterprises Inc           | Rush Enterprises, Inc. - Class A                | CUSIP: 781846209<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |      9148 | NS      | $471396.44    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| scPharmaceuticals Inc          | scPharmaceuticals, Inc.                         | CUSIP: 810648105<br>LEI: 549300F55SN4ZR2OA180 | Long             | EC               | CORP              | US        |     32416 | NS      | $237609.28    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Surgery Partners Inc           | Surgery Partners, Inc.                          | CUSIP: 86881A100<br>LEI: 549300LC82HG33S19I03 | Long             | EC               | CORP              | US        |     14121 | NS      | $399765.51    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyline Champion Corp          | Skyline Champion Corp.                          | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6683 | NS      | $347449.17    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc       | Super Micro Computer, Inc.                      | CUSIP: 86800U104<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |      7177 | NS      | $647580.71    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc               | StoneX Group, Inc.                              | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |      1555 | NS      | $157785.85    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Oilfield Infrastructur | Solaris Oilfield Infrastructure, Inc. - Class A | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |     55000 | NS      | $603350.00    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SP Plus Corp                   | SP Plus Corp.                                   | CUSIP: 78469C103<br>LEI: 0IDE18EMH1CUKQCUYE69 | Long             | EC               | CORP              | US        |      8896 | NS      | $310381.44    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| South Plains Financial Inc     | South Plains Financial, Inc.                    | CUSIP: 83946P107<br>LEI: 549300SNEBP48642N493 | Long             | EC               | CORP              | US        |      9743 | NS      | $301643.28    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies Inc           | SPX Technologies, Inc.                          | CUSIP: 78473E103<br>LEI: P761FCI0CPOG24I8JE10 | Long             | EC               | CORP              | US        |      1990 | NS      | $133131.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| 1st Source Corp                | 1st Source Corp.                                | CUSIP: 336901103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7556 | NS      | $431447.60    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc   | Simpson Manufacturing Co., Inc.                 | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |      3865 | NS      | $359638.25    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Shockwave Medical Inc          | Shockwave Medical, Inc.                         | CUSIP: 82489T104<br>LEI: 549300LDXO56IC5Y1538 | Long             | EC               | CORP              | US        |      1223 | NS      | $310152.80    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Standex International Corp     | Standex International Corp.                     | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Long             | EC               | CORP              | US        |      5307 | NS      | $557500.35    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Corp/IN        | First Financial Corp.                           | CUSIP: 320218100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14091 | NS      | $677354.37    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan Machinery Inc            | Titan Machinery, Inc.                           | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |      3127 | NS      | $137681.81    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Towne Bank/Portsmouth VA       | Towne Bank/Portsmouth VA                        | CUSIP: 89214P109<br>LEI: 54930039UO39UJGI7078 | Long             | EC               | CORP              | US        |     23236 | NS      | $750522.80    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan International Inc        | Titan International, Inc.                       | CUSIP: 88830M102<br>LEI: 254900CXRGBE7C4B5A06 | Long             | EC               | CORP              | US        |     14151 | NS      | $202783.83    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc             | UFP Industries, Inc.                            | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |      7256 | NS      | $593976.16    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Logistics Holdings I | Universal Logistics Holdings, Inc.              | CUSIP: 91388P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3498 | NS      | $132819.06    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| UserTesting Inc                | UserTesting, Inc.                               | CUSIP: 91734E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62790 | NS      | $465901.80    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Unitil Corp                    | Unitil Corp.                                    | CUSIP: 913259107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5624 | NS      | $308307.68    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Vivint Smart Home Inc          | Vivint Smart Home, Inc.                         | CUSIP: 928542109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27379 | NS      | $254077.12    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                     | Cactus, Inc. - Class A                          | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     14069 | NS      | $765212.91    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies Inc   | Watts Water Technologies, Inc. - Class A        | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |      1541 | NS      | $244171.45    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Energy Services Inc     | Select Energy Services, Inc. - Class A          | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |     38194 | NS      | $312808.86    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| York Water Co/The              | York Water Co.                                  | CUSIP: 987184108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4889 | NS      | $223378.41    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-27

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

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

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

**Title:** Assistant Vice President