UNITED STATES
SECURITIES  AND EXCHANGE COMMISSION
Washington, D. C. 20549

Form 13F

FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: 06-30-2011

Check here if Amendment [ ]; Amendment Number:
    This Amendment (Check only one):	[ ] is a restatement
                                        [ ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:       IMS Capital Management
Address:    8995 SE Otty Road
            Portland, OR  97086

Form 13F File Number: 28-11531

The institutional investment manager filing this report and the person
by whom it is signed hereby represent that the person signing the report
is authorized to submit it, that all information contained herein is true,
correct and complete, and that it is understood that all required items,
statements, schedules, lists, and tables, are considered integral
parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name: 	Mats Nordgren
Title: 	Chief Compliance Officer
Phone:	503-788-4200

Signature, Place, and Date of Signing:

Mats Nordgren      Portland, OR       July 4, 2011
[Signature]       [City, State]      [Date]

Report Type (Check only one):

[x] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.



FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:	0

Form 13F Information Table Entry Total:	145

Form 13F Information Table Value Total:	$95065
						(thousands)


List of Other Included Managers:  NONE




                                                FORM 13F INFORMATION TABLE

					VALUE       SHRS OR   SH/  PUT/   INVESTMENT  OTHER       VOTING AUTHORITY
NAME OF ISSUER            TITLE OF CLASS  CUSIP     (x$1000) PRN AMT   PRN  CALL   DISCRETION  MANAGERS  SOLE  SHARED   NONE
----------------------------------------------------------------------------------------------------------------------------
                                                   		      	  	                             
ABERDEEN ASIA PACIFIC INCOM	COM	003009107	107	14558	SH		SOLE				14558
ADVANCE AMER CASH ADVANCE CT	COM	00739W107	243	35275	SH		SOLE		31700		3575
ADVOCAT INC	COM	00739W107	204	29700	SH		SOLE		29700
AGCO CORP	COM	001084102	1086	22006	SH		SOLE		21600		406
ALCOA INC COM	COM	01879R106	2024	127612	SH		SOLE		90350		37262
ALLIANT ENERGY CORP	COM	018802108	1248	30700	SH		SOLE		30100		600
AMERICAN GREETINGS CORP	CL A	026375105	177	7350	SH		SOLE		7350
ANALOG DEVICES INC	COM	032654105	431	11001	SH		SOLE		4150		6851
ANNALY CAP MGMT INC	COM	035710409	689	38188	SH		SOLE		35500		2688
APOLLO INVT CORP	COM	03761U106	533	52200	SH		SOLE		52200
ARCH CHEMICALS INC	COM	018802108	162	4700	SH		SOLE		4700
AVNET INC	COM	053807103	211	6615	SH		SOLE				6615
BANCOLOMBIA S A	SPON ADR PREF	05968L102	220	3300	SH		SOLE		3300
BLOCK H & R INC	COM	093671105	1533	95578	SH		SOLE		54100		41478
BREITBURN ENERGY PARTNERS LP	COM UT LTD PTN	106776107	541	27800	SH		SOLE		27800
BRINKS CO	COM	109696104	1119	37500	SH		SOLE		37500
BRISTOL MYERS SQUIBB CO	COM	110122108	508	17527	SH		SOLE		6500		11027
BRITISH AMERN TOB PLC	SPONSORED ADR	110448107	185	2100	SH		SOLE		2100
CASCADE BANCORP	COM	147154108	101	10000	SH		SOLE				10000
CENTURYLINK INC	COM	156700106	214	5282	SH		SOLE				5282
CHECK POINT SOFTWARE TECH LTD       	ORD	M22465104	202	3550	SH		SOLE				3550
CHIMERA INVT CORP	COM	16934Q109	323	93400	SH		SOLE		93400
CHINA MOBILE LIMITED	SPONSORED ADR	16941M109	247	5289	SH		SOLE		3800		1489
CINEMARK HOLDINGS INC	COM	17243V102	212	10250	SH		SOLE				10250
COLLECTORS UNIVERSE INC	COM NEW	19421R200	176	11900	SH		SOLE		11900
CONOCOPHILLIPS	COM	20825C104	314	4180	SH		SOLE		2550		1630
COOPER COS INC	COM NEW	216648402	1613	20350	SH		SOLE		20100		250
CYTEC INDS INC	COM	232820100	1591	27825	SH		SOLE		24000		3825
D R HORTON INC	COM	23331A109	2125	184452	SH		SOLE		178500		5952
DENBURY RES INC	COM NEW	247916208	1043	52150	SH		SOLE		51900		250
DIAMOND OFFSHORE DRILLING IN	COM	25271C102	912	12950	SH		SOLE		7900		5050
DONNELLEY R R & SONS CO	COM	257867101	79	4050	SH		SOLE		4050
DST SYS INC DEL	COM	233326107	1341	25400	SH		SOLE		25400
DU PONT E I DE NEMOURS & CO	COM	263534109	389	7190	SH		SOLE				7190
E TRADE FINANCIAL CORP	COM NEW	269246401	1356	98244	SH		SOLE		76800		21444
ENCORE ENERGY PARTNERS LP	COM UNIT	29257A106	529	24800	SH		SOLE		24800
ENERGY TRANSFER PRTNRS L P	UNIT LTD PARTN	29273R109	549	11225	SH		SOLE		11100		125
ENTERGY CORP NEW	COM	29364G103	178	2600	SH		SOLE		2600
EXELON CORP	COM	30161N101	212	4949	SH		SOLE				4949
FEDERATED INVS INC PA	CL B	314211103	372	15606	SH		SOLE		6417		9189
FIDELITY NATIONAL FINANCIAL	CL A	31620R105	349	22165	SH		SOLE		12300		9865
FIFTH STREET FINANCE CORP	COM	31678A103	565	48700	SH		SOLE		48700
FIRST AMERN FINL CORP	COM	31847R102	1254	80142	SH		SOLE		61100		19042
FIRST NIAGARA FINL GP INC	COM	33582V108	83	6250	SH		SOLE		6250
FLY LEASING LTD	SPONSORED ADR	34407D109	169	12800	SH		SOLE		12800
FRONTIER COMMUNICATIONS CORP	COM	35906A108	599	74200	SH		SOLE		68500		5700
FTI CONSULTING INC	COM	302941109	922	24300	SH		SOLE		24300
GAMESTOP CORP NEW	CL A	36467W109	1016	38078	SH		SOLE		28400		9678
GMX RES INC	COM	38011M108	1168	49250	SH		SOLE		49250
HEALTHCARE SVCS GRP INC	COM	421906108	383	23550	SH		SOLE		11300		12250
HELMERICH & PAYNE INC	COM	423452101	351	5313	SH		SOLE				5313
HERCULES TECH GROWTH CAP INC	COM	427096508	603	57300	SH		SOLE		57300
HICKORY TECH CORP	COM	429060106	211	17750	SH		SOLE		17750
HILL ROM HLDGS INC	COM	431475102	1155	25096	SH		SOLE		19500		5596
HILLENBRAND INC	COM	431571108	257	10871	SH		SOLE				10871
INTEL CORP 	COM	458140100	377	17012	SH		SOLE				17012
INTERSECTIONS INC	COM	460981301	96	5300	SH		SOLE		5300
INTL PAPER CO	COM	460146103	406	13620	SH		SOLE				13620
IRON MTN INC	COM	462846106	972	28509	SH		SOLE		21900		6609
ITURAN LOCATION AND CONTROL	SHS	M6158M104	161	11400	SH		SOLE		11400
JABIL CIRCUIT INC	COM	466313103	885	43800	SH		SOLE		43800
JANUS CAP GROUP INC	COM	47102X105	1113	117890	SH		SOLE		102000		15890
KEYCORP NEW	COM	493267108	1182	141850	SH		SOLE		140000		1850
KIMBERLY CLARK CORP	COM	494368103	257	3857	SH		SOLE				3857
KLA-TENCOR CORP	COM	482480100	182	4505	SH		SOLE		4000		505
KONINKLIJKE PHILIPS ELECTRS	NY REG SH NEW	500472303	435	16950	SH		SOLE		5850		11100
LEGGETT & PLATT INC	COM	524660107	253	10380	SH		SOLE				10380
LEXMARK INTL NEW	CL A	529771107	1141	39000	SH		SOLE		39000
LILLY ELI & CO	COM	532457108	218	5800	SH		SOLE				5800
LINCARE HLDGS INC	COM	532791100	1358	46401	SH		SOLE		40200		6201
LINCOLN NATL CORP IND	COM	534187109	1571	55145	SH		SOLE		47900		7245
LINEAR TECHNOLOGY CORP	COM	535678106	186	5627	SH		SOLE		5387		240
M D C HLDGS INC	COM	552676108	241	9798	SH		SOLE				9798
MAXIM INTEGRATED PRODS INC	COM	57772K101	171	6700	SH		SOLE		6700
MERITAGE HOMES CORP	COM	59001A102	224	9940	SH		SOLE				9940
METROPCS COMMUNICATIONS INC	COM	591708102	1369	79555	SH		SOLE		61300		18255
MFA FINANCIAL INC	COM	55272X102	603	75000	SH		SOLE		75000
MICROCHIP TECHNOLOGY INC	COM	595017104	464	12230	SH		SOLE		4900		7330
MICRON TECHNOLOGY INC	COM	595112103	1197	160000	SH		SOLE		160000
MICROSOFT CORP	COM	594918104	320	12289	SH		SOLE				12289
MID-AMER APT CMNTYS INC	COM	59522J103	214	3167	SH		SOLE				3167
MOLEX INC	CL A	608554200	848	39500	SH		SOLE		39500
MYRIAD GENETICS INC	COM	62855J104	1329	58500	SH		SOLE		52400		6100
NATIONAL GRID PLC	SPON ADR NEW	636274300	237	4800	SH		SOLE				4800
NATIONAL HEALTHCARE CORP	COM	635906100	198	4000	SH		SOLE		4000
NEW YORK COMNTY BANCORP INC	COM	649445103	115	7684	SH		SOLE		5692		1992
NEWELL RUBBERMAID INC	COM	651229106	1255	79560	SH		SOLE		76400		3160
NOBLE CORPORATION BAAR	NAMEN -AKT	H5833N103	217	5505	SH		SOLE				5505
NOVELLUS SYS INC	COM	670008101	1000	27680	SH		SOLE		23200		4480
NUCOR CORP	COM	670346105	315	7650	SH		SOLE				7650
NVIDIA CORP	COM	67066G104	1118	70165	SH		SOLE		58600		11565
OCEANEERING INTL INC	COM	675232102	1272	31400	SH		SOLE		30000		1400
OLD NATL BANCORP IND	COM	680033107	114	10600	SH		SOLE				10600
OMNICARE INC	COM	681904108	1531	48000	SH		SOLE		43700		4300
PATTERSON COMPANIES INC	COM	703395103	228	6941	SH		SOLE				6941
PAYCHEX INC	COM	704326107	420	13664	SH		SOLE				13664
PETMED EXPRESS INC	COM	716382106	175	14740	SH		SOLE				14740
PHILIP MORRIS INTL INC	COM	718172109	180	2700	SH		SOLE		2700
PIONEER SOUTWEST ENRG PRTNR	UNIT LP INT	72388B106	140	5000	SH		SOLE		5000
PITNEY BOWES INC	COM	724479100	429	18640	SH		SOLE		18200		440
PPG INDS INC	COM	693506107	185	2042	SH		SOLE		1900		142
PREMIERWEST BANCORP	COM	740921101	15	10000	SH		SOLE				10000
PRICE T ROWE GROUP INC	COM	74144T108	378	6266	SH		SOLE				6266
PRINCIPAL FINL GROUP INC	COM	74251V102	1159	38100	SH		SOLE		38100
PROGRESS ENERGY INC	COM	743263105	610	12700	SH		SOLE		12700
PROSPECT CAPITAL CORPORATION	COM	74348T102	566	55970	SH		SOLE		52500		3470
QUAKER CHEM CORP	COM	747316107	379	8805	SH		SOLE		4500		4305
RF MICRODEVICES INC	COM	749941100	119	19511	SH		SOLE				19511
RIVERBED TECHNOLOGY INC	COM	768573107	1434	36214	SH		SOLE		36200		14
ROGERS COMMUNICATIONS INC	CL B	775109200	445	11250	SH		SOLE		4600		6650
ROWAN COS INC	COM	779382100	1164	30000	SH		SOLE		30000
ROYAL CARIBBEAN CRUISES LTD	COM	V7780T103	1241	32970	SH		SOLE		28900		4070
ROYAL DUTCH SHELL PLC	SPONS ADR A	780259206	254	3572	SH		SOLE				3572
RPM INTL INC	COM	749685103	377	16360	SH		SOLE		7595		8765
RYDER SYS INC	COM	783549108	1480	26030	SH		SOLE		25800		230
SCHNITZER STL INDS	CL A	806882106	1248	21675	SH		SOLE		18400		3275
SERVICE CORP INTL	COM	817565104	2523	216038	SH		SOLE		160000		56038
SHAW GROUP INC	COM	820280105	991	32800	SH		SOLE		32800
SOUTHERN COPPER CORP	COM	84265V105	970	29510	SH		SOLE		21700		7810
SPDR S&P MIDCAP 400 ETF TR	UTSER1 S&PDCRP	78467Y107	336	1895	SH		SOLE				1895
SPECTRA ENERGY PARTNERS LP	COM	84756N109	178	5600	SH		SOLE		5600
SUNOCO INC	COM	86764P109	1051	25200	SH		SOLE		25200
SUPERIOR INDS INTL INC	COM	868168105	431	19500	SH		SOLE		8400		11100
TECO ENERGY INC	COM	872375100	1475	78106	SH		SOLE		56200		21906
TEKELEC	COM	879101103	110	12100	SH		SOLE				12100
TELECOM CORP NEW ZEALAND LTD	SPONSORED ADR	879278208	240	23773	SH		SOLE		23773
TEMPLE INLAND INC	COM	879868107	1178	39600	SH		SOLE		39600
TEMPLETON EMERGING MKTS FD I	COM	880191101	346	15200	SH		SOLE				15200
TERRA NITROGEN CO L P	COM UNIT	881005201	220	1600	SH		SOLE		1600
TITANIUM METALS CORP	COM NEW	888339207	1343	73300	SH		SOLE		73000		300
TOTAL S A	SPONSORED ADR	89151E109	374	6467	SH		SOLE		3057		3410
TYSON FOODS INC 	CL A	902494103	2755	141862	SH		SOLE		125300		16562
U S AIRWAYS GROUP INC	COM	90341W108	1291	144860	SH		SOLE		144000		860
ULTRA PETROLEUM CORP	COM	903914109	1237	27000	SH		SOLE		27000
UMPQUA HLDGS CORP	COM	904214103	517	44706	SH		SOLE				44706
US ECOLOGY INC	COM	91732J102	413	24130	SH		SOLE		10250		13880
VANGUARD INTL EQUITY INDEX F	MSCI EMR MKT ETF	922042858	368	7564	SH		SOLE				7564
VERIZON COMMUNICATIONS	COM	92343V104	888	23863	SH		SOLE		16700		7163
VODAFONE GROUP PLC NEW	SPONS ADR NEW	92857W209	554	20715	SH		SOLE		3362		17353
WAYSIDE TECHNOLOGY GROUP INC	COM	946760105	121	8900	SH		SOLE		8900
WHITESTONE REIT	CL B SBI	966084204	591	46500	SH		SOLE		46500
WINDSTREAM CORP	COM	97381W104	597	46100	SH		SOLE		46100
XILINX INC	COM	983919101	1237	33920	SH		SOLE		22600		11320
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	350	7775	SH		SOLE		4000		3775
ZIMMER HLDGS INC	COM	98956P102	227	3586	SH		SOLE				3586