FPA Crescent Fund

S000009495Investment Managers Series Trust IIICIK 0000924727

Share classes

3 classes of this one portfolio · 0 exchange-listed

Class ID	Symbol	Status	Security in the master	Type
C000025975	FPACX	NOT_LISTED	not exchange-listed	—
C000221940	FPCSX	NOT_LISTED	not exchange-listed	—
C000249813	FPFRX	NOT_LISTED	not exchange-listed	—

The share-class bridge is a snapshot, not history. The SEC's fund share-class file says what each class trades as today, not what it traded as at a past report date. A fund that changed ticker or converted from a mutual fund resolves to its present-day symbol for every historical month shown.

Share classes

Report period

1 period filed. Holdings below describe the selected month only.

2026-03-31

Filing

NPORT-P · filed 2026-05-27

Report date: 2026-03-31
Net assets: $11,806,898,613.5
Total assets: $11,941,468,973.93
Total liabilities: $134,570,360.43
Assets invested: $0
Cash not reported in C or D: $66,548,847.73
Amendment: No
Accession: 0001193125-26-241353

By asset category

N-PORT Item C.4.a

ECEquity - common$6.53B58.1%

ABS-APCPAsset-backed: asset-backe…$2.58B23.0%

DBTDebt$1.84B16.3%

OTHEROther; the filer describe…$311.70M2.8%

LONLoan$54.03M0.5%

EPEquity - preferred$21.24M0.2%

DEDerivative - equity-$270.2K-0.0%

STIVShort-term investment veh…-$90.37M-0.8%

By asset category

By issuer category

N-PORT Item C.4.b

CORPCorporate$9.45B84.0%

USTUS Treasury$1.68B14.9%

PFPrivate fund$209.03M1.9%

RFRegistered fund$30.10M0.3%

OTHEROther; the filer describe…-$120.73M-1.1%

By issuer category

By investment country

as filed

USUS$8.18B72.0%

NLNL$886.07M7.8%

CHCH$450.14M4.0%

FRFR$428.56M3.8%

IEIE$289.41M2.5%

JPJP$262.72M2.3%

KRKR$239.51M2.1%

BEBE$206.35M1.8%

GBGB$161.12M1.4%

LULU$120.85M1.1%

DEDE$87.83M0.8%

MXMX$45.14M0.4%

By country

Classification look-through

Positions resolved to the master through ISIN, then rolled up through the taxonomy. 35.2% of reported value reaches a classification.

Not resolved to the master(118)$7.29B64.8%

Equity · Information Technology(8)$1.17B10.4%

Equity · Financials(5)$605.00M5.4%

Equity · Communication Services(3)$531.21M4.7%

Equity · Consumer Discretionary(5)$487.52M4.3%

Equity · Health Care(6)$469.63M4.2%

Equity · Materials(2)$337.42M3.0%

Equity · Consumer Staples(3)$108.10M1.0%

Equity · Real Estate(2)$102.67M0.9%

Equity · Energy(2)$99.48M0.9%

Equity · Industrials(1)$40.39M0.4%

Equity · Utilities(1)$12.66M0.1%

Classification covers part of the master. 5,771 of 13,106 active securities are classified. Anything unclassified is shown as its own band rather than dropped, so a look-through total that falls short of 100% is telling you about coverage, not about the fund.

Percentages are of the reported value of positions above ($11.25B), not of the fund’s net assets ($11.81B). The two differ by cash, derivatives filed with no market value, and rounding.

Classification look-through

Holdings

156 positions in this filing

Issuer nameAsset categoryIssuer category

Holdings

Issuer↕	In master	CUSIP / ISIN	Asset	Balance↕	Value↕	Weight▼	Country
TREASURY BILL United States Treasury Bill	—	912797TL1 US912797TL15	DBT UST	90,000,000 PA	$89.70M	0.760%	US
PEPSICO, Inc. DCP, 05/04/2026 /	—	71344UE47 —	ABS-APCP CORP	88,000,000 PA	$87.70M	0.743%	US
NESTLE CAPITAL DCP, 04/23/26 /	—	64106HDP3 —	ABS-APCP CORP	87,500,000 PA	$87.30M	0.739%	US
TREASURY BILL United States Treasury Bill	—	912797SD0 US912797SD08	DBT UST	87,000,000 PA	$86.99M	0.737%	US
LPL Financial Holdings Inc LPL Financial Holdings, Inc.	LPLA	50212V100 US50212V1008	EC CORP	283,826 NS	$85.38M	0.723%	US
TREASURY BILL United States Treasury Bill	—	912797TS6 US912797TS67	DBT UST	85,000,000 PA	$84.59M	0.716%	US
Pepsico, Inc. DCP DCP, 06/15/26 /	—	71344UFF1 —	ABS-APCP CORP	82,000,000 PA	$81.40M	0.689%	US
Magnum Ice Cream Co NV/The Magnum Ice Cream Co. N.V.	MICC	— NL0015002MS2	EC CORP	5,461,550 NS	$80.23M EUR	0.680%	NL
TREASURY BILL United States Treasury Bill	—	912797TH0 US912797TH03	DBT UST	77,000,000 PA	$76.90M	0.651%	US
CarMax Inc CarMax, Inc.	KMX	143130102 US1431301027	EC CORP	1,845,215 NS	$76.72M	0.650%	US
LG Corp LG Corp.	—	— KR7003550001	EC CORP	1,354,494 NS	$76.59M KRW	0.649%	KR
EXXON MOBIL Corp. DCP 04/10/2026 /	—	30229BDA2 —	ABS-APCP CORP	76,000,000 PA	$75.93M	0.643%	US
Sodexo SA Sodexo S.A.	—	— FR0000121220	EC CORP	1,472,802 NS	$75.60M EUR	0.640%	FR
CISCO SYSTEMS, Inc. DCP 06/23/2026 /	—	17277BFP5 —	ABS-APCP CORP	76,000,000 PA	$75.36M	0.638%	US
Pernod Ricard SA Pernod Ricard S.A.	—	— FR0000120693	EC CORP	1,008,624 NS	$75.00M EUR	0.635%	FR
NOV Inc NOV, Inc.	NOV	62955J103 US62955J1034	EC CORP	3,892,487 NS	$73.22M	0.620%	US
WALMART STORES, Inc. DCP 05/05/2026 /	—	93114FE59 —	ABS-APCP CORP	73,000,000 PA	$72.74M	0.616%	US
PEPSICO, Inc. DCP, 06/08/2026 /	—	71344UF87 —	ABS-APCP CORP	73,000,000 PA	$72.50M	0.614%	US
CISCO SYSTEMS, Inc. DCP 07/27/2026 /	—	17277BGT6 —	ABS-APCP CORP	73,000,000 PA	$72.14M	0.611%	US
NESTLE CAPITAL Corp. DCP, 05/06/2026 /	—	64105HE65 —	ABS-APCP CORP	71,000,000 PA	$70.75M	0.599%	US
CHEVRON Corp. DCP 06/02/2026 /	—	16677KF24 —	ABS-APCP CORP	70,350,000 PA	$69.91M	0.592%	US
Cie Financiere Richemont SA Cie Financiere Richemont S.A.	—	— CH0210483332	EC CORP	395,110 NS	$69.76M CHF	0.591%	CH
Holcim AG Holcim A.G.	—	— CH0012214059	EC CORP	826,751 NS	$68.34M CHF	0.579%	CH
Bio-Rad Laboratories Inc Bio-Rad Laboratories, Inc. - Class A	BIO	090572207 US0905722072	EC CORP	244,376 NS	$68.12M	0.577%	US
IMCD NV IMCD N.V.	—	— NL0010801007	EC CORP	640,089 NS	$66.98M EUR	0.567%	NL
PEPSICO, Inc. DCP, 05/14/2026 /	—	71344UEE5 —	ABS-APCP CORP	67,000,000 PA	$66.72M	0.565%	US
Thermo Fisher Scientific Inc Thermo Fisher Scientific, Inc.	TMO	883556102 US8835561023	EC CORP	134,470 NS	$66.10M	0.560%	US
Nintendo Co Ltd Nintendo Co., Ltd.	—	— JP3756600007	EC CORP	1,157,180 NS	$66.06M JPY	0.559%	JP
Douglas Emmett Inc Douglas Emmett, Inc. - REIT	DEI	25960P109 US25960P1093	OTHER CORP	6,902,154 NS	$65.02M	0.551%	US
ICON PLC	ICLR	G4705A100 IE0005711209	EC CORP	580,243 NS	$64.21M	0.544%	IE
Dell Technologies Inc Dell Technologies, Inc. - Class C	DELL	24703L202 US24703L2025	EC CORP	382,985 NS	$62.86M	0.532%	US
Hirose Electric Co Ltd Hirose Electric Co., Ltd.	—	— JP3799000009	EC CORP	453,500 NS	$59.37M JPY	0.503%	JP
Merck KGaA	—	— DE0006599905	EC CORP	465,134 NS	$59.09M EUR	0.501%	DE
CHEVRON Corp. DCP 09/14/2026 /	—	16677KJE4 —	ABS-APCP CORP	60,000,000 PA	$58.96M	0.499%	US
WALMART STORES, Inc. DCP 04/14/2026 /	—	93114FDE1 —	ABS-APCP CORP	57,000,000 PA	$56.92M	0.482%	US
Orion Corp/Republic of Korea Orion Corp./Republic of Korea	—	— KR7271560005	EC CORP	651,117 NS	$56.34M KRW	0.477%	KR
CISCO SYSTEMS, Inc. DCP 06/15/2026 /	—	17277BFF7 —	ABS-APCP CORP	55,000,000 PA	$54.57M	0.462%	US
PEPSICO, Inc. DCP, 05/26/2026 /	—	71344UES4 —	ABS-APCP CORP	50,873,000 PA	$50.59M	0.428%	US
Mcdermott International Ltd Mcdermott International Ltd.	—	G5924V148 BMG5924V1485	EC CORP	2,512,153 NS	$50.24M	0.426%	US
ROCHE HOLDINGS DCP DCP, 04/08/2026 /	—	77119MD87 —	ABS-APCP CORP	50,000,000 PA	$49.96M	0.423%	US
TOTAL FINA ELF CAP DCP, 04/17/2026 /	—	89152FDH5 —	ABS-APCP CORP	50,000,000 PA	$49.92M	0.423%	FR
WALT DISNETY Corp. DCP 05/11/26 /	—	2546R3EB6 —	ABS-APCP CORP	50,000,000 PA	$49.79M	0.422%	US
TOTAL FINA ELF CAP DCP, 05/20/2026 /	—	89152FEL5 —	ABS-APCP CORP	50,000,000 PA	$49.74M	0.421%	FR
PEPSICO, Inc. DCP, 05/29/2026 /	—	71344UEV7 —	ABS-APCP CORP	50,000,000 PA	$49.71M	0.421%	US
PEPSICO, Inc. DCP, 05/13/2026 /	—	71344UED7 —	ABS-APCP CORP	48,000,000 PA	$47.80M	0.405%	US
Waters Corp Waters Corp.	WAT	941848103 US9418481035	EC CORP	159,710 NS	$47.56M	0.403%	US
Marriott International Inc/MD Marriott International, Inc. - Class A	MAR	571903202 US5719032022	EC CORP	144,835 NS	$47.37M	0.401%	US
Grupo Mexico SAB de CV Grupo Mexico S.A.B. de C.V.	—	— MXP370841019	EC CORP	4,215,343 NS	$45.14M MXN	0.382%	MX
Uber Technologies Inc Uber Technologies, Inc.	UBER	90353T100 US90353T1007	EC CORP	602,717 NS	$43.35M	0.367%	US
Wells Fargo & Co Wells Fargo & Co.	WFC	949746101 US9497461015	EC CORP	539,804 NS	$42.97M	0.364%	US

Issuer↕

In master

CUSIP / ISIN

Asset

Balance↕

Value↕

Weight▼

Country

TREASURY BILL

United States Treasury Bill

—

912797TL1

US912797TL15

DBT

UST

90,000,000 PA

$89.70M

0.760%

PEPSICO, Inc. DCP, 05/04/2026 /

—

71344UE47

—

ABS-APCP

CORP

88,000,000 PA

$87.70M

0.743%

NESTLE CAPITAL DCP, 04/23/26 /

—

64106HDP3

—

ABS-APCP

CORP

87,500,000 PA

$87.30M

0.739%

TREASURY BILL

United States Treasury Bill

—

912797SD0

US912797SD08

DBT

UST

87,000,000 PA

$86.99M

0.737%

LPL Financial Holdings Inc

LPL Financial Holdings, Inc.

LPLA

50212V100

US50212V1008

CORP

283,826 NS

$85.38M

0.723%

TREASURY BILL

United States Treasury Bill

—

912797TS6

US912797TS67

DBT

UST

85,000,000 PA

$84.59M

0.716%

Pepsico, Inc. DCP DCP, 06/15/26 /

—

71344UFF1

—

ABS-APCP

CORP

82,000,000 PA

$81.40M

0.689%

Magnum Ice Cream Co NV/The

Magnum Ice Cream Co. N.V.

MICC

—

NL0015002MS2

CORP

5,461,550 NS

$80.23M

EUR

0.680%

TREASURY BILL

United States Treasury Bill

—

912797TH0

US912797TH03

DBT

UST

77,000,000 PA

$76.90M

0.651%

CarMax Inc

CarMax, Inc.

KMX

143130102

US1431301027

CORP

1,845,215 NS

$76.72M

0.650%

LG Corp

LG Corp.

—

KR7003550001

CORP

1,354,494 NS

$76.59M

KRW

0.649%

EXXON MOBIL Corp. DCP 04/10/2026 /

—

30229BDA2

—

ABS-APCP

CORP

76,000,000 PA

$75.93M

0.643%

Sodexo SA

Sodexo S.A.

—

FR0000121220

CORP

1,472,802 NS

$75.60M

EUR

0.640%

CISCO SYSTEMS, Inc. DCP 06/23/2026 /

—

17277BFP5

—

ABS-APCP

CORP

76,000,000 PA

$75.36M

0.638%

Pernod Ricard SA

Pernod Ricard S.A.

—

FR0000120693

CORP

1,008,624 NS

$75.00M

EUR

0.635%

NOV Inc

NOV, Inc.

NOV

62955J103

US62955J1034

CORP

3,892,487 NS

$73.22M

0.620%

WALMART STORES, Inc. DCP 05/05/2026 /

—

93114FE59

—

ABS-APCP

CORP

73,000,000 PA

$72.74M

0.616%

PEPSICO, Inc. DCP, 06/08/2026 /

—

71344UF87

—

ABS-APCP

CORP

73,000,000 PA

$72.50M

0.614%

CISCO SYSTEMS, Inc. DCP 07/27/2026 /

—

17277BGT6

—

ABS-APCP

CORP

73,000,000 PA

$72.14M

0.611%

NESTLE CAPITAL Corp. DCP, 05/06/2026 /

—

64105HE65

—

ABS-APCP

CORP

71,000,000 PA

$70.75M

0.599%

CHEVRON Corp. DCP 06/02/2026 /

—

16677KF24

—

ABS-APCP

CORP

70,350,000 PA

$69.91M

0.592%

Cie Financiere Richemont SA

Cie Financiere Richemont S.A.

—

CH0210483332

CORP

395,110 NS

$69.76M

CHF

0.591%

Holcim AG

Holcim A.G.

—

CH0012214059

CORP

826,751 NS

$68.34M

CHF

0.579%

Bio-Rad Laboratories Inc

Bio-Rad Laboratories, Inc. - Class A

BIO

090572207

US0905722072

CORP

244,376 NS

$68.12M

0.577%

IMCD NV

IMCD N.V.

—

NL0010801007

CORP

640,089 NS

$66.98M

EUR

0.567%

PEPSICO, Inc. DCP, 05/14/2026 /

—

71344UEE5

—

ABS-APCP

CORP

67,000,000 PA

$66.72M

0.565%

Thermo Fisher Scientific Inc

Thermo Fisher Scientific, Inc.

TMO

883556102

US8835561023

CORP

134,470 NS

$66.10M

0.560%

Nintendo Co Ltd

Nintendo Co., Ltd.

—

JP3756600007

CORP

1,157,180 NS

$66.06M

JPY

0.559%

Douglas Emmett Inc

Douglas Emmett, Inc. - REIT

DEI

25960P109

US25960P1093

OTHER

CORP

6,902,154 NS

$65.02M

0.551%

ICON PLC

ICLR

G4705A100

IE0005711209

CORP

580,243 NS

$64.21M

0.544%

Dell Technologies Inc

Dell Technologies, Inc. - Class C

DELL

24703L202

US24703L2025

CORP

382,985 NS

$62.86M

0.532%

Hirose Electric Co Ltd

Hirose Electric Co., Ltd.

—

JP3799000009

CORP

453,500 NS

$59.37M

JPY

0.503%

Merck KGaA

—

DE0006599905

CORP

465,134 NS

$59.09M

EUR

0.501%

CHEVRON Corp. DCP 09/14/2026 /

—

16677KJE4

—

ABS-APCP

CORP

60,000,000 PA

$58.96M

0.499%

WALMART STORES, Inc. DCP 04/14/2026 /

—

93114FDE1

—

ABS-APCP

CORP

57,000,000 PA

$56.92M

0.482%

Orion Corp/Republic of Korea

Orion Corp./Republic of Korea

—

KR7271560005

CORP

651,117 NS

$56.34M

KRW

0.477%

CISCO SYSTEMS, Inc. DCP 06/15/2026 /

—

17277BFF7

—

ABS-APCP

CORP

55,000,000 PA

$54.57M

0.462%

PEPSICO, Inc. DCP, 05/26/2026 /

—

71344UES4

—

ABS-APCP

CORP

50,873,000 PA

$50.59M

0.428%

Mcdermott International Ltd

Mcdermott International Ltd.

—

G5924V148

BMG5924V1485

CORP

2,512,153 NS

$50.24M

0.426%

ROCHE HOLDINGS DCP DCP, 04/08/2026 /

—

77119MD87

—

ABS-APCP

CORP

50,000,000 PA

$49.96M

0.423%

TOTAL FINA ELF CAP DCP, 04/17/2026 /

—

89152FDH5

—

ABS-APCP

CORP

50,000,000 PA

$49.92M

0.423%

WALT DISNETY Corp. DCP 05/11/26 /

—

2546R3EB6

—

ABS-APCP

CORP

50,000,000 PA

$49.79M

0.422%

TOTAL FINA ELF CAP DCP, 05/20/2026 /

—

89152FEL5

—

ABS-APCP

CORP

50,000,000 PA

$49.74M

0.421%

PEPSICO, Inc. DCP, 05/29/2026 /

—

71344UEV7

—

ABS-APCP

CORP

50,000,000 PA

$49.71M

0.421%

PEPSICO, Inc. DCP, 05/13/2026 /

—

71344UED7

—

ABS-APCP

CORP

48,000,000 PA

$47.80M

0.405%

Waters Corp

Waters Corp.

WAT

941848103

US9418481035

CORP

159,710 NS

$47.56M

0.403%

Marriott International Inc/MD

Marriott International, Inc. - Class A

MAR

571903202

US5719032022

CORP

144,835 NS

$47.37M

0.401%

Grupo Mexico SAB de CV

Grupo Mexico S.A.B. de C.V.

—

MXP370841019

CORP

4,215,343 NS

$45.14M

MXN

0.382%

Uber Technologies Inc

Uber Technologies, Inc.

UBER

90353T100

US90353T1007

CORP

602,717 NS

$43.35M

0.367%

Wells Fargo & Co

Wells Fargo & Co.

WFC

949746101

US9497461015

CORP

539,804 NS

$42.97M

0.364%