# EDGAR Filing Document

**Accession Number:** 0001545440
**File Stem:** 0001752724-25-181079
**Filing Date:** 2025-7
**Character Count:** 14912
**Document Hash:** 445a18f850566c43b6afc816d54ce82c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-181079.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-181079

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250531

**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:** 251157732

**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

### Wavelength Fund (Series ID: S000042074)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000130673 | Wavelength Fund | WAVLX           |

## 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:** WAVELENGTH FUND

- **b. EDGAR series identifier (if any):** S000042074

- **c. LEI of Series:** 549300P8Q6IFOHV2AT44

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

- **a. Date of fiscal year-end:** 2025-05-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $70493716.88

**Total Liabilities:** $193810.28

**Net Assets:** $70299906.60

**Cash Not Reported:** $2153583.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000130673 | -0.86%               | 0.10%                | 0.52%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $74135.87                | $-779893.82                                |
| Month 2  | $-214221.00              | $-193180.71                                |
| Month 3  | $-35950.47               | $192712.01                                 |

**Designated Index Information**

- **Index Name:** S&P Target Risk Moderate Index TR (USD)

- **Index Identifier:** SPTGTSPTGMUT

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Vanguard Index Funds                                          | VANGUARD REAL ESTATE ETF                                    | CUSIP: 922908553<br>LEI: N/A                  | Long             | EC               | RF                | US        |      8087 | NS      | $722330.84    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                        | U.S. TREASURY LONG BOND FUTURE 9/19/2025                    | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DE               | CORP              | US        |        23 | NS      | $13053.73     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                             | SPDR BLOOMBERG BARCLAYS SHORT TERM HIGH YIELD BOND  ETF     | CUSIP: 78468R408<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    280963 | NS      | $7088696.49   | 10.08%            |  |  |  | No            |                  1 | On Loan: —       |
| Invesco                                                       | Invesco Treasury Portfolio Institutional Class              | CUSIP: 825252406<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |   1289952 | PA      | $1289951.64   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Exchange Traded Fund Trust II                         | Invesco Senior Loan ETF                                     | CUSIP: 46138G508<br>LEI: O540V2L4S174Y60FMD36 | Long             | EC               | RF                | US        |    365701 | NS      | $7628522.86   | 10.85%            |  |  |  | No            |                  1 | On Loan: —       |
| iShares Trust                                                 | iShares JPMorgan USD Emerging Markets Bond ETF              | CUSIP: 464288281<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     18600 | NS      | $1685160.00   | 2.40%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Actively Managed Exchange-Traded Commodity Fund Trust | Invesco Optimum Yield                                       | CUSIP: 46090F100<br>LEI: 549300J84F1VGX03MG06 | Long             | EC               | RF                | US        |     91699 | NS      | $1149905.46   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Dws Money Market Tr                                  | DWS Government Money Market Series Institutional Class      | CUSIP: 25160K207<br>LEI: 549300LJHPNV587EFB75 | Long             | STIV             | RF                | US        |   1289952 | PA      | $1289951.64   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | iShares TIPS Bond ETF                                       | CUSIP: 464287176<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     40611 | NS      | $4438376.19   | 6.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE                                   | E-MINI NASDAQ 100 FUTURE 6/20/2025                          | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DE               | CORP              | US        |         4 | NS      | $2011.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | MSCI Emerging Markets Future 6/20/2025                      | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Long             | DE               | CORP              | US        |        36 | NS      | $128874.08    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                        | US 2YR NOTE (CBT) Sep25 9/30/2025                           | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DE               | CORP              | US        |        50 | NS      | $8752.13      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Whitehall Funds                                      | Vanguard Emerging Markets Government Bond Fund ETF          | CUSIP: 921946885<br>LEI: 5493006QD7VQBS2FQD13 | Long             | EC               | RF                | US        |     28224 | NS      | $1808593.92   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Funds                                                | Global X MLP ETF                                            | CUSIP: 37954Y343<br>LEI: 5493003RA4QUTSYF1N15 | Long             | EC               | RF                | US        |      9178 | NS      | $450823.36    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                             | Spdr Bloomberg Barclays Convertible Securities Etf          | CUSIP: 78464A359<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     34552 | NS      | $2756213.04   | 3.92%             |  |  |  | No            |                  1 | On Loan: —       |
| CHICAGO BOARD OF TRADE                                        | E-Mini Dow CBOT DJIA Future 6/20/2025                       | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DE               | CORP              | US        |         2 | NS      | $14865.50     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Malvern Funds                                        | Vanguard Short-Term Inflation-Protected Securities ETF      | CUSIP: 922020805<br>LEI: 549300EW16IGZDA38J20 | Long             | EC               | RF                | US        |    131646 | NS      | $6584932.92   | 9.37%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | IShares Broad USD High Yield Corporate Bond ETF             | CUSIP: 46435U853<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    143215 | NS      | $5303251.45   | 7.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                        | 10-Year U.S. Treasury Note Future 9/19/2025                 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DE               | CORP              | US        |        57 | NS      | $12811.04     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                        | 5-YEAR U.S. TREASURY NOTE FUTURE 9/30/2025                  | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DE               | CORP              | US        |        88 | NS      | $16420.89     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds                                          | First American Govt OB FD Cl X                              | CUSIP: 31846V336<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  20817214 | PA      | $20817214.25  | 29.61%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Scottsdale Funds                                     | Vanguard Mortgage-Backed Securities ETF                     | CUSIP: 92206C771<br>LEI: 549300Y88GQ3VLJIBX57 | Long             | EC               | RF                | US        |    192168 | NS      | $8789764.32   | 12.50%            |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                                              | Vaneck Vectors Emerging Market High Yield Bond ETF          | CUSIP: 92189F353<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |    194916 | NS      | $3816455.28   | 5.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Colchester Street Trust                              | Fidelity Institutional Money Market Government Portfolio    | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |   1289952 | PA      | $1289951.64   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | ISHARES NATIONAL MUNI BOND ETF                              | CUSIP: 464288414<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     31296 | NS      | $3250089.60   | 4.62%             |  |  |  | No            |                  1 | On Loan: —       |
| CHICAGO MERCANTILE EXCHANGE                                   | E-MINI S&P 500 FUTURE 6/20/2025                             | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DE               | CORP              | US        |         7 | NS      | $14871.75     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER                                   | COMEX MINY GOLD FUTURE 7/29/2025                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DCO              | CORP              | US        |        11 | NS      | $-41130.59    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | ISHARES S&P US PREFERRED STOCK INDEX FUND                   | CUSIP: 464288687<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     84468 | NS      | $2553467.64   | 3.63%             |  |  |  | No            |                  1 | On Loan: —       |
| VanEck ETF Trust                                              | VANECK VECTORS J.P. MORGAN EM LOCAL CURRENCY BOND ETF       | CUSIP: 92189H300<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |    193041 | NS      | $4764251.88   | 6.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Trust                                           | Goldman Sachs Treasury Obligations Fund Institutional Class | CUSIP: 38141W323<br>LEI: S2FHCT8U6D2VORP0J605 | Long             | STIV             | RF                | US        |   1289952 | PA      | $1289951.65   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-23

**Name of Applicant:** Wavelength Fund

**Signature:** Daniel D. Bauer

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

**Title:** Treasurer