Close

Form NPORT-P Investment Managers Seri For: Sep 30

November 29, 2021 4:43 PM EST

  
    NPORT-P
    false
    
      
      
        
          0001318342
          XXXXXXXX
        
      
      
      
      
        S000041406
        C000128408
        C000128409
      
      
      
    
  
  
    
      INVESTMENT MANAGERS SERIES TRUST
      811-21719
      0001318342
      549300ESWU4ZNAH5Y054
      235 WEST GALENA STREET
      MILWAUKEE
      
      532123948
      4142992000
      SilverPepper Merger Arbitrage Fund
      S000041406
      549300OOD5K68ZK65M25
      2022-06-30
      2021-09-30
      N
    
    
      26050313.780000000000
      15428474.460000000000
      10621839.320000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      1826081.530000000000
      N
      
        
          
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        Athene Holding Ltd
        549300H316CT32FQXI76
        Athene Holding Ltd. - Class A
        G0684D107
        
          
          
        
        10938
        NS
        USD
        753300.06
        7.0919926136
        Long
        EC
        CORP
        BM
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Banc of California Inc
        549300ZKWUJDP6LJ1X87
        Banc of California, Inc.
        05990K106
        
          
          
        
        -47199
        NS
        USD
        -872709.51
        -8.2161806793
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bank of Commerce Holdings
        HIDHKSSVNILGQQ1P9A04
        Bank of Commerce Holdings
        06424J103
        
          
          
        
        30804
        NS
        USD
        467296.68
        4.3993951134
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bioventus Inc
        N/A
        Bioventus, Inc. - Class A
        09075A108
        
          
          
        
        -1167
        NS
        USD
        -16524.72
        -0.1555730557
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BancorpSouth Bank
        Q7C315HKI8VX0SSKBS64
        BancorpSouth Bank
        05971J102
        
          
          
        
        -63423
        NS
        USD
        -1888736.94
        -17.7816372767
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cadence BanCorp
        54930022CKKXKBR5CK30
        Cadence BanCorp
        12739A100
        
          
          
        
        90606
        NS
        USD
        1989707.76
        18.7322336561
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CAI International Inc
        549300XR4I3ZRKKVBZ43
        CAI International, Inc.
        12477X106
        
          
          
        
        14890
        NS
        USD
        832499.90
        7.8376246799
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Citizens Financial Group Inc
        2138004JDDA4ZQUPFW65
        Citizens Financial Group, Inc.
        174610105
        
          
          
        
        -18739
        NS
        USD
        -880358.22
        -8.2881899592
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CIT Group Inc
        N8O96ZZJQRFYQUJY7K79
        CIT Group, Inc.
        125581801
        
          
          
        
        19000
        NS
        USD
        987050
        9.2926466901
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Century Bancorp Inc/MA
        N/A
        Century Bancorp, Inc. - Class A
        156432106
        
          
          
        
        10735
        NS
        USD
        1237101.40
        11.6467719265
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Columbia Banking System Inc
        N/A
        Columbia Banking System, Inc.
        197236102
        
          
          
        
        -12321
        NS
        USD
        -468074.79
        -4.4067206808
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cornerstone OnDemand Inc
        549300Z402F16H5EGH48
        Cornerstone OnDemand, Inc.
        21925Y103
        
          
          
        
        6718
        NS
        USD
        384672.68
        3.6215260692
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Covanta Holding Corp
        40XIFLS8XDQGGHGPGC04
        Covanta Holding Corp.
        22282E102
        
          
          
        
        77500
        NS
        USD
        1559300
        14.6801316893
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Meridian Bancorp Inc
        N/A
        Meridian Bancorp, Inc.
        58958U103
        
          
          
        
        52825
        NS
        USD
        1096647
        10.3244548045
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Echo Global Logistics Inc
        549300WRZ9Y84GWVYR04
        Echo Global Logistics, Inc.
        27875T101
        
          
          
        
        2672
        NS
        USD
        127481.12
        1.2001793301
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Community Bankers Trust Corp
        549300FKOFQ1R5SK6I07
        Community Bankers Trust Corp.
        203612106
        
          
          
        
        114720
        NS
        USD
        1304366.40
        12.2800426621
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Flagstar Bancorp Inc
        549300Q22V2Y3J4R2715
        Flagstar Bancorp, Inc.
        337930705
        
          
          
        
        45000
        NS
        USD
        2285100
        21.5132231919
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        First Bancorp/Southern Pines N
        N/A
        First Bancorp/Southern Pines NC
        318910106
        
          
          
        
        -41721
        NS
        USD
        -1794420.21
        -16.8936862622
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        1st Constitution Bancorp
        N/A
        1st Constitution Bancorp
        31986N102
        
          
          
        
        23014
        NS
        USD
        544741.38
        5.1285032996
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        First Citizens BancShares Inc/
        549300N3Z00ZHE2XC526
        First Citizens BancShares, Inc. - Class A
        31946M103
        
          
          
        
        -1178
        NS
        USD
        -993254.26
        -9.3510571011
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        First Midwest Bancorp Inc/IL
        7XRS7ORI584PF41IVU88
        First Midwest Bancorp, Inc.
        320867104
        
          
          
        
        10506
        NS
        USD
        199719.06
        1.8802681342
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        FNB Corp/PA
        PCYSKIGYNYFDTBLVZU83
        FNB Corp.
        302520101
        
          
          
        
        -11100
        NS
        USD
        -128982
        -1.2143094629
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ferro Corp
        1YTO5R7OHOPE81ZNYD08
        Ferro Corp.
        315405100
        
          
          
        
        382
        NS
        USD
        7769.88
        0.0731500427
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Howard Bancorp Inc
        N/A
        Howard Bancorp, Inc.
        442496105
        
          
          
        
        6166
        NS
        USD
        125046.48
        1.1772582529
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Independent Bank Corp
        549300C5K3W8THR3GE10
        Independent Bank Corp.
        453836108
        
          
          
        
        -14526
        NS
        USD
        -1106154.90
        -10.4139675500
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Investors Bancorp Inc
        N/A
        Investors Bancorp, Inc.
        46146L101
        
          
          
        
        63096
        NS
        USD
        953380.56
        8.9756635483
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Kite Realty Group Trust
        N/A
        Kite Realty Group Trust - REIT
        49803T300
        
          
          
        
        -974
        NS
        USD
        -19830.64
        -0.1866968554
        Short
        
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lakeland Bancorp Inc
        549300NF90LR9ETZDR73
        Lakeland Bancorp, Inc.
        511637100
        
          
          
        
        -31247
        NS
        USD
        -550884.61
        -5.1863391396
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lydall Inc
        549300HATFXXTSIQU854
        Lydall, Inc.
        550819106
        
          
          
        
        777
        NS
        USD
        48243.93
        0.4541956298
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Medallia Inc
        5493009P6W6C5BK60J60
        Medallia, Inc.
        584021109
        
          
          
        
        19071
        NS
        USD
        645934.77
        6.0811950787
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Magellan Health Inc
        N/A
        Magellan Health, Inc.
        559079207
        
          
          
        
        9446
        NS
        USD
        893119.30
        8.4083299803
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Macquarie Infrastructure Holdi
        N/A
        Macquarie Infrastructure Holdings LLC
        55608B105
        
          
          
        
        673
        NS
        USD
        27296.88
        0.2569882595
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        UMB MONEY MARKET FIDUCIARY   /
        N/A
        UMB MONEY MARKET FIDUCIARY   /
        SF8888528
        
          
        
        651321.67
        PA
        USD
        651321.67
        6.1319104006
        Long
        STIV
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Misonix Inc
        N/A
        Misonix, Inc.
        604871103
        
          
          
        
        1108
        NS
        USD
        28032.40
        0.2639128606
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Nuance Communications Inc
        AEMSOT3SS15TNMJCE605
        Nuance Communications, Inc.
        67020Y100
        
          
          
        
        1407
        NS
        USD
        77441.28
        0.7290759883
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        New York Community Bancorp Inc
        529900HVXOTLY61GL030
        New York Community Bancorp, Inc.
        649445103
        
          
          
        
        -180680
        NS
        USD
        -2325351.60
        -21.8921745090
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Old National Bancorp/IN
        549300MMK90CL5KMVX16
        Old National Bancorp
        680033107
        
          
          
        
        -11909
        NS
        USD
        -201857.55
        -1.9004010880
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Pacific Mercantile Bancorp
        N/A
        Pacific Mercantile Bancorp
        694552100
        
          
          
        
        94399
        NS
        USD
        869414.79
        8.1851623227
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PNM Resources Inc
        5493003JOBJGLZSDDQ28
        PNM Resources, Inc.
        69349H107
        
          
          
        
        100
        NS
        USD
        4948
        0.0465832692
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        QAD Inc
        N/A
        QAD, Inc. - Class A
        74727D306
        
          
          
        
        527
        NS
        USD
        46054.53
        0.4335833805
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        QAD Inc
        N/A
        QAD, Inc. - Class B
        74727D207
        
          
          
        
        204
        NS
        USD
        17778.60
        0.1673777908
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Reliant Bancorp Inc
        549300K01QVP0R3WTW85
        Reliant Bancorp, Inc.
        75956B101
        
          
          
        
        4301
        NS
        USD
        135868.59
        1.2791437143
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Retail Properties of America I
        549300OVTYLM7DH6CM14
        Retail Properties of America, Inc. - Class A - REIT
        76131V202
        
          
          
        
        1564
        NS
        USD
        20144.32
        0.1896500163
        Long
        
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Shore Bancshares Inc
        N/A
        Shore Bancshares, Inc.
        825107105
        
          
          
        
        -4249
        NS
        USD
        -75334.77
        -0.7092441123
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Select Interior Concepts Inc
        N/A
        Select Interior Concepts, Inc. - Class A
        816120307
        
          
          
        
        49481
        NS
        USD
        713516.02
        6.7174431707
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Select Bancorp Inc
        N/A
        Select Bancorp, Inc.
        81617L108
        
          
          
        
        102258
        NS
        USD
        1763950.50
        16.6068271874
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Soliton Inc
        N/A
        Soliton, Inc.
        834251100
        
          
          
        
        1402
        NS
        USD
        28544.72
        0.2687361307
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SouthState Corp
        549300JZUANXM0YQ4W53
        SouthState Corp.
        840441109
        
          
          
        
        -116
        NS
        USD
        -8661.72
        -0.0815463286
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Sterling Bancorp/DE
        549300LQK6SKH5ZXO648
        Sterling Bancorp
        85917A100
        
          
          
        
        97664
        NS
        USD
        2437693.44
        22.9498240988
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Stamps.com Inc
        5299008VAXLEGU4Y4038
        Stamps.com, Inc.
        852857200
        
          
          
        
        4516
        NS
        USD
        1489331.64
        14.0214099944
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Severn Bancorp Inc
        N/A
        Severn Bancorp, Inc.
        81811M100
        
          
          
        
        6842
        NS
        USD
        85661.84
        0.8064689873
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Trillium Therapeutics Inc
        N/A
        Trillium Therapeutics, Inc.
        89620X506
        
          
          
        
        4000
        NS
        USD
        70240
        0.6612790674
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        United Bankshares Inc/WV
        5299005O3BAMJ9Z92V62
        United Bankshares, Inc.
        909907107
        
          
          
        
        -36400
        NS
        USD
        -1324232
        -12.4670686508
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        United Community Banks Inc/GA
        549300GVW0FV66X3U703
        United Community Banks, Inc.
        90984P303
        
          
          
        
        -4233
        NS
        USD
        -138927.06
        -1.3079378798
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Webster Financial Corp
        KMRURHT0VWKYS6Z5KU67
        Webster Financial Corp.
        947890109
        
          
          
        
        -45218
        NS
        USD
        -2462572.28
        -23.1840475629
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Atlantic Capital Bancshares In
        5493005URKIOUNJO6097
        Atlantic Capital Bancshares, Inc.
        048269203
        
          
          
        
        323
        NS
        USD
        8556.27
        0.0805535627
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Apollo Global Management Inc
        54930054P2G7ZJB0KM79
        Apollo Global Management, Inc.
        03768E105
        
          
          
        
        -12568
        NS
        USD
        -774063.12
        -7.2874677980
        Short
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
    
    
      
    
    
      2021-10-21
      INVESTMENT MANAGERS SERIES TRUST
      /s/ Terrance P. Gallagher
      Terrance P. Gallagher
      Assistant Vice President
    
  
  XXXX



 

SilverPepper Merger Arbitrage Fund

SCHEDULE OF INVESTMENTS

As of September 30, 2021 (Unaudited)

 

 

Number
of Shares

     

Value

 
    COMMON STOCKS — 228.4%    
    COMMUNICATIONS — 14.0%    
 4,516   Stamps.com, Inc.*,1  $1,489,332 
     CONSUMER DISCRETIONARY — 6.7%     
 49,481   Select Interior Concepts, Inc. - Class A*,1   713,516 
     FINANCIALS — 162.6%     
 23,014   1st Constitution Bancorp1   544,741 
 10,938   Athene Holding Ltd. - Class A*,1,2   753,300 
 323   Atlantic Capital Bancshares, Inc.*   8,556 
 30,804   Bank of Commerce Holdings1   467,297 
 90,606   Cadence BanCorp - Class A1   1,989,708 
 10,735   Century Bancorp, Inc. - Class A1   1,237,101 
 19,000   CIT Group, Inc.1   987,050 
 114,720   Community Bankers Trust Corp.1   1,304,366 
 10,506   First Midwest Bancorp, Inc.   199,719 
 45,000   Flagstar Bancorp, Inc.1   2,285,100 
 6,166   Howard Bancorp, Inc.*   125,046 
 63,096   Investors Bancorp, Inc.1   953,381 
 673   Macquarie Infrastructure Holdings, LLC.   27,297 
 52,825   Meridian Bancorp, Inc.1   1,096,647 
 94,399   Pacific Mercantile Bancorp - Class B*,1   869,415 
 4,301   Reliant Bancorp, Inc.   135,869 
 102,258   Select Bancorp, Inc.*,1   1,763,951 
 6,842   Severn Bancorp, Inc.   85,662 
 97,664   Sterling Bancorp1   2,437,693 
         17,271,899 
     HEALTH CARE — 9.6%     
 9,446   Magellan Health, Inc.*,1   893,119 
 1,108   Misonix, Inc.*   28,032 
 1,402   Soliton, Inc.*   28,545 
 4,000   Trillium Therapeutics, Inc.*,2   70,240 
         1,019,936 
     INDUSTRIALS — 23.7%     
 14,890   CAI International, Inc.1   832,500 
 77,500   Covanta Holding Corp.1   1,559,300 
 2,672   Echo Global Logistics, Inc.*   127,481 
         2,519,281 
     MATERIALS — 0.5%     
 382   Ferro Corp.*   7,770 
 777   Lydall, Inc.*   48,244 
         56,014 

 

 

SilverPepper Merger Arbitrage Fund

SCHEDULE OF INVESTMENTS - Continued

As of September 30, 2021 (Unaudited)

 

 

Number
of Shares

     

Value

 
     COMMON STOCKS (Continued)     
     REAL ESTATE — 0.2%     
 1,564   Retail Properties of America, Inc. - Class A - REIT  $20,144 
     TECHNOLOGY — 11.0%     
 6,718   Cornerstone OnDemand, Inc.*   384,673 
 19,071   Medallia, Inc.*   645,935 
 1,407   Nuance Communications, Inc.*,1   77,441 
 204   QAD, Inc.   17,779 
 527   QAD, Inc. - Class A   46,054 
         1,171,882 
     UTILITIES — 0.1%     
 100   PNM Resources, Inc.   4,948 
     TOTAL COMMON STOCKS     
     (Cost $23,259,998)   24,266,952 

 

Principal
Amount

        
    SHORT-TERM INVESTMENTS — 5.9%    
$624,989   UMB Money Market Fiduciary, 0.01%3   624,989 
     TOTAL SHORT-TERM INVESTMENTS     
     (Cost $624,989)   624,989 
     TOTAL INVESTMENTS — 234.3%     
     (Cost $23,884,987)   24,891,941 
     Liabilities in Excess of Other Assets — (134.3)%   (14,270,102)
     TOTAL NET ASSETS — 100.0%  $10,621,839 

 

Number
of Shares

        
     SECURITIES SOLD SHORT — (150.9)%     
     COMMON STOCKS — (150.9)%     
     FINANCIALS — (150.6)%     
 (12,568)  Apollo Global Management, Inc. - Class A   (774,063)
 (47,199)  Banc of California, Inc.   (872,709)
 (63,423)  BancorpSouth Bank   (1,888,737)
 (18,739)  Citizens Financial Group, Inc.   (880,358)
 (12,321)  Columbia Banking System, Inc.   (468,075)
 (41,721)  First Bancorp/Southern Pines NC   (1,794,420)
 (1,178)  First Citizens BancShares, Inc. - Class A   (993,254)
 (11,100)  FNB Corp.   (128,982)
 (14,526)  Independent Bank Corp.   (1,106,155)
 (31,247)  Lakeland Bancorp, Inc.   (550,885)

 

 

SilverPepper Merger Arbitrage Fund

SCHEDULE OF INVESTMENTS - Continued

As of September 30, 2021 (Unaudited)

 

 

Number
of Shares

     

Value

 
     SECURITIES SOLD SHORT (Continued)     
     COMMON STOCKS (Continued)     
     FINANCIALS (Continued)     
 (180,680)  New York Community Bancorp, Inc.  $(2,325,352)
 (11,909   Old National Bancorp   (201,857)
 (4,249)  Shore Bancshares, Inc.   (75,335)
 (116)  South State Corp.   (8,662)
 (36,400)  United Bankshares, Inc.   (1,324,232)
 (4,233)  United Community Banks, Inc.   (138,927)
 (45,218)  Webster Financial Corp.   (2,462,572)
         (15,994,575)
     HEALTH CARE — (0.1)%     
 (1,167)  Bioventus, Inc. - Class A*   (16,525)
     REAL ESTATE — (0.2)%     
 (974)  Kite Realty Group Trust - REIT   (19,831)
     TOTAL COMMON STOCKS     
     (Proceeds $15,344,145)   (16,030,931)
     TOTAL SECURITIES SOLD SHORT     
     (Proceeds $15,344,145)  $(16,030,931)

 

REIT – Real Estate Investment Trusts

 

*Non-income producing security.

1All or a portion of this security is segregated as collateral for securities sold short. The market value of the securities pledged as collateral was $21,757,456, which represents 204.8% of total net assets of the Fund.

2Foreign security denominated in U.S. Dollars.

3The rate is the annualized seven-day yield at period end.

 



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