# EDGAR Filing Document

**Accession Number:** 0001545440
**File Stem:** 0000910472-25-006128
**Filing Date:** 2025-12
**Character Count:** 25045
**Document Hash:** 97479a239e36574e50aceea203774391
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-006128.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0000910472-25-006128

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ultimus Managers Trust
- **CENTRAL INDEX KEY:** 0001545440

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22680
- **FILM NUMBER:** 251605331

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3400

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Westwood Quality SmallCap Fund (Series ID: S000072842)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000229475 | Westwood Quality SmallCap Fund A Class Shares       | WHGAX           |
| C000229476 | Westwood Quality SmallCap Fund Institutional Shares | WHGSX           |
| C000229477 | Westwood Quality SmallCap Fund Ultra Shares         | WWSYX           |
| C000229478 | Westwood Quality SmallCap Fund C Class Shares       | WHGCX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Ultimus Managers Trust

- **b. Investment Company Act file number:** 811-22680

- **c. CIK number of Registrant:** 0001545440

- **d. LEI of Registrant:** 549300FU214TAR7BFY91

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 225 Pictoria Drive

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 513-587-3400

**Item A.2. Information about the Series.**

- **a. Name of Series:** WESTWOOD QUALITY SMALLCAP FUND

- **b. EDGAR series identifier (if any):** S000072842

- **c. LEI of Series:** 549300PJ13YBRZUAKH28

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $927642285.36

**Total Liabilities:** $1693356.34

**Net Assets:** $925948929.02

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229477 | 4.83%                | -2.30%               | -4.95%               |
| Class ID C000229478 | 4.74%                | -2.36%               | -5.02%               |
| Class ID C000229476 | 4.83%                | -2.26%               | -5.00%               |
| Class ID C000229475 | 4.80%                | -2.27%               | -4.98%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $437111.21               | $46459937.60                               |
| Month 2  | $18212335.33             | $-43550433.54                              |
| Month 3  | $-5955372.96             | $-42721356.16                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Banner Corp                             | Banner Corporation                                   | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    320861 | NS      | $19376795.79  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc.        | Four Corners Property Trust, Inc.                    | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |    818037 | NS      | $19338394.68  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmus Filtration Technologies Inc.      | Atmus Filtration Tech                                | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    444740 | NS      | $20226775.20  | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                  | Boot Barn Holdings, Inc.                             | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     52954 | NS      | $10042726.10  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Moog Inc.                               | Moog, Inc. Class A                                   | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |     92332 | NS      | $18914210.20  | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc.                 | Power Integrations, Inc.                             | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |    228431 | NS      | $9568974.59   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc.                  | Veeco Instruments, Inc.                              | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |    641724 | NS      | $18449565.00  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheesecake Factory Inc                  | Cheesecake Factory, Inc. (The)                       | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Long             | EC               | CORP              | US        |    273766 | NS      | $13633546.80  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Simmons First National Corp             | Simmons First National Corporation Class A           | CUSIP: 828730200<br>LEI: 549300IVR5AJKUVOGN05 | Long             | EC               | CORP              | US        |   1084039 | NS      | $18840597.82  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| City Holding Co                         | City Holding Company                                 | CUSIP: 177835105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    156755 | NS      | $18478279.40  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties                 | COPT Defense Properties REIT                         | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |    679928 | NS      | $19153571.76  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Boise Cascade Co                        | Boise Cascade Company                                | CUSIP: 09739D100<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | EC               | CORP              | US        |    131573 | NS      | $9274580.77   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp.                               | AAR Corporation                                      | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |    221184 | NS      | $18625904.64  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| J&J Snack Foods Corp                    | J & J Snack Foods Corporation                        | CUSIP: 466032109<br>LEI: 894500IGP1Y2ZQFQMJ83 | Long             | EC               | CORP              | US        |     97141 | NS      | $8222985.65   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Operating Corp.         | Gulfport Energy Corporation                          | CUSIP: 402635502<br>LEI: 549300FJX18IDUFPHD40 | Long             | EC               | CORP              | US        |     54306 | NS      | $10101459.06  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                   | Urban Edge Properties REIT                           | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1007491 | NS      | $19374051.93  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Renasant Corp.                          | Renasant Corporation                                 | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Long             | EC               | CORP              | US        |    564014 | NS      | $18967790.82  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Grp Inc                             | MYR Group, Inc.                                      | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |      2862 | NS      | $623057.40    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FB Financial Corp.                      | FB Financial Corporation                             | CUSIP: 30257X104<br>LEI: 5493000B2LD2C2A6C435 | Long             | EC               | CORP              | US        |    334843 | NS      | $18084870.43  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Companies                 | Piper Sandler Cos                                    | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |     58575 | NS      | $18700654.50  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Perella Weinberg Partners               | Perella Weinberg Partners                            | CUSIP: 71367G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    503247 | NS      | $9400653.96   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corporation              | Verra Mobility Corporation                           | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |    810989 | NS      | $18823054.69  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co.                           | SM Energy Company                                    | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |    930595 | NS      | $19440129.55  | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings Inc                    | Hayward Holdings Inc. Class A                        | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1117367 | NS      | $18961717.99  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions Inc       | Donnelley Financial Solutions, Inc.                  | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |    198227 | NS      | $9108530.65   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp.                         | Blue Bird Corporation                                | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |    339072 | NS      | $16940037.12  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc.           | Sunstone Hotel Investors, Inc. REIT                  | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |   1048017 | NS      | $9274950.45   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp          | Atlantic Union Bankshares Corporation                | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    558353 | NS      | $18157639.56  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Innospec Inc                            | Innospec, Inc.                                       | CUSIP: 45768S105<br>LEI: 213800SQBACNY5IWJO68 | Long             | EC               | CORP              | US        |    127817 | NS      | $9404774.86   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonic Automotive, Inc.                  | Sonic Automotive, Inc.                               | CUSIP: 83545G102<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | EC               | CORP              | US        |    158128 | NS      | $10045871.84  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corporation                      | Avista Corporation                                   | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |    493704 | NS      | $18785437.20  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.               | FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND - CLASS U | CUSIP: 31846V211<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   7368599 | PA      | $7368599.42   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| NorthWestern Energy Group Inc           | NorthWestern Corporation                             | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |    249146 | NS      | $14866541.82  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Standex International Corp              | Standex International Corporation                    | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Long             | EC               | CORP              | US        |     81991 | NS      | $19122760.93  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp.                       | Knife River Corp.                                    | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    239562 | NS      | $14483918.52  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackline Inc                           | BlackLine, Inc.                                      | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Long             | EC               | CORP              | US        |    333575 | NS      | $19097168.75  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                                 | AZZ, Inc.                                            | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |    142787 | NS      | $14257281.95  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Seacoast Banking Corporation Of Florida | Seacoast Banking Corporation of Florida              | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               | CORP              | US        |    640749 | NS      | $19414694.70  | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Interparfums Inc                        | Inter Parfums, Inc.                                  | CUSIP: 458334109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    198736 | NS      | $17717314.40  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| First Bancorp                           | First Bancorp/NC                                     | CUSIP: 318910106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    376929 | NS      | $18296133.66  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil And Gas, Inc.              | Northern Oil and Gas, Inc.                           | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |    737786 | NS      | $16327204.18  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities Inc                 | Century Communities, Inc.                            | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |    313756 | NS      | $18637106.40  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group Inc.          | Everus Construction Group                            | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Long             | EC               | CORP              | US        |    214698 | NS      | $19513901.22  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawkins Inc                             | Hawkins, Inc.                                        | CUSIP: 420261109<br>LEI: 549300VL3IJ23OWX1Y34 | Long             | EC               | CORP              | US        |     89283 | NS      | $12664793.55  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermon Group Holdings Inc              | Thermon Group Holdings, Inc.                         | CUSIP: 88362T103<br>LEI: 529900ZNZBBLDE77MZ38 | Long             | EC               | CORP              | US        |    403519 | NS      | $11593100.87  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Academy Sports and Outdoors Inc         | Academy Sports & Outdoors, Inc.                      | CUSIP: 00402L107<br>LEI: 529900HST589BD301M91 | Long             | EC               | CORP              | US        |    376266 | NS      | $18019378.74  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Stepan Co                               | Stepan Company                                       | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Long             | EC               | CORP              | US        |    210493 | NS      | $9124871.55   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc                         | Alamo Group, Inc.                                    | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |    102831 | NS      | $18377956.32  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Yeti Holdings Inc                       | Yeti Holdings, Inc.                                  | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |    565899 | NS      | $19234907.01  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Coastal Financial Corp.                 | Coastal Financial Corp/WA                            | CUSIP: 19046P209<br>LEI: 549300XG5L36T6IU0B47 | Long             | EC               | CORP              | US        |     92399 | NS      | $9840493.50   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmark Group Inc                       | Newmark Group, Inc. Class A                          | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    640880 | NS      | $11426890.40  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Conmed Corporation                      | CONMED Corporation                                   | CUSIP: 207410101<br>LEI: Z6C0YCECH9DCU5ZIQW84 | Long             | EC               | CORP              | US        |    376648 | NS      | $16572512.00  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank Holdings Corp             | National Bank Holdings Corporation                   | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    385962 | NS      | $13763404.92  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Prestige Consumer Healthcare Inc        | Prestige Consumer Healthcare, Inc.                   | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    310545 | NS      | $18819027.00  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| The Baldwin Insurance Group Inc         | Baldwin Insurance Group, Inc. (The)                  | CUSIP: 05589G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    686903 | NS      | $15180556.30  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Potlatchdeltic Corp.                    | PotlatchDeltic Corporation REIT                      | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |    458229 | NS      | $18329160.00  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Company            | Central Garden & Pet Co A Class A Non-Voting         | CUSIP: 153527205<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |    303626 | NS      | $8443839.06   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp              | Sensient Technologies Corporation                    | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |    183044 | NS      | $17259218.76  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcbest Corporation                     | ArcBest Corporation                                  | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |    185715 | NS      | $13802338.80  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc.              | Merit Medical Systems, Inc.                          | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |    207822 | NS      | $18192737.88  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Infinity Natural Resources Inc.         | Infinity Natural Resources, Inc.                     | CUSIP: 456941103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    513629 | NS      | $5896460.92   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-31

**Name of Applicant:** Westwood Quality SmallCap Fund

**Signature:** Daniel D. Bauer

**Name of Signer:** Daniel D. Bauer

**Title:** Treasurer