# EDGAR Filing Document

**Accession Number:** 0001545440
**File Stem:** 0001752724-25-154340
**Filing Date:** 2025-6
**Character Count:** 26260
**Document Hash:** 2f868c47ea6343baddc120d156049897
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-154340.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001752724-25-154340

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**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:** 251071197

**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:** 2025-04-30

**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:** $905454070.12

**Total Liabilities:** $2182969.48

**Net Assets:** $903271100.64

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229477 | -4.63%               | -4.45%               | -5.98%               |
| Class ID C000229478 | -5.66%               | -5.48%               | -6.98%               |
| Class ID C000229476 | -4.63%               | -4.45%               | -5.98%               |
| Class ID C000229475 | -4.64%               | -4.46%               | -6.00%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3215881.79             | $-47017054.70                              |
| Month 2  | $3563244.46              | $-48938567.17                              |
| Month 3  | $-16079001.86            | $-42600653.66                              |

### 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        |    291270 | NS      | $17808247.80  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Papa John's International Inc.             | Papa John's International, Inc.                      | CUSIP: 698813102<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | EC               | CORP              | US        |    281791 | NS      | $9730243.23   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc.           | Four Corners Property Trust, Inc.                    | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |    641209 | NS      | $17921791.55  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of N.T. Butterfield & Son Limited | Bank of N.T. Butterfield & Son Ltd. (The)            | CUSIP: G0772R208<br>LEI: 549300V8RVM0EMTDPF28 | Long             | EC               | CORP              | BM        |    231925 | NS      | $9318746.50   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                     | Boot Barn Holdings, Inc.                             | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     95738 | NS      | $9989302.92   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Moog Inc.                                  | Moog, Inc. Class A                                   | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |    113091 | NS      | $18914469.75  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc.                     | Veeco Instruments, Inc.                              | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |    731087 | NS      | $13671326.90  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheesecake Factory Inc                     | Cheesecake Factory, Inc. (The)                       | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Long             | EC               | CORP              | US        |    270468 | NS      | $13623473.16  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Simmons First National Corp                | Simmons First National Corporation Class A           | CUSIP: 828730200<br>LEI: 549300IVR5AJKUVOGN05 | Long             | EC               | CORP              | US        |    977494 | NS      | $18240038.04  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| City Holding Co                            | City Holding Company                                 | CUSIP: 177835105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    155656 | NS      | $18035860.72  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties                    | COPT Defense Properties REIT                         | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |    684489 | NS      | $17872007.79  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Boise Cascade Co                           | Boise Cascade Company                                | CUSIP: 09739D100<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | EC               | CORP              | US        |    199138 | NS      | $18575592.64  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp.                                  | AAR Corporation                                      | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |    328557 | NS      | $17564657.22  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| J&J Snack Foods Corp                       | J & J Snack Foods Corporation                        | CUSIP: 466032109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    128163 | NS      | $16608643.17  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Operating Corp.            | Gulfport Energy Corporation                          | CUSIP: 402635502<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53170 | NS      | $9171825.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                      | Urban Edge Properties REIT                           | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    994158 | NS      | $17964435.06  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Renasant Corp.                             | Renasant Corporation                                 | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Long             | EC               | CORP              | US        |    561321 | NS      | $18001564.47  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Companies                    | Piper Sandler Companies                              | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |     78961 | NS      | $19039076.32  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corporation                 | Verra Mobility Corporation                           | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |    808108 | NS      | $17616754.40  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co.                              | SM Energy Company                                    | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |    742045 | NS      | $16911205.55  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| TKO Group Holdings Inc.                    | Hayward Holdings Inc. Class A                        | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    347331 | NS      | $4629922.23   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellium SE                             | Constellium SE                                       | CUSIP: F21107101<br>LEI: 724500KRJEMC79KAAU28 | Long             | EC               | CORP              | FR        |    105120 | NS      | $1062763.20   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sitio Royalties Corp                       | Sitio Royalties Corporation                          | CUSIP: 82983N108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    481545 | NS      | $8167003.20   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp.                            | Blue Bird Corporation                                | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |    505149 | NS      | $17614545.63  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc.              | Sunstone Hotel Investors, Inc. REIT                  | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |   1037278 | NS      | $8650898.52   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp             | Atlantic Union Bankshares Corporation                | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    556353 | NS      | $15410978.10  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Innospec Inc                               | Innospec, Inc.                                       | CUSIP: 45768S105<br>LEI: 213800SQBACNY5IWJO68 | Long             | EC               | CORP              | US        |    109997 | NS      | $9842531.56   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonic Automotive, Inc.                     | Sonic Automotive, Inc.                               | CUSIP: 83545G102<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | EC               | CORP              | US        |    173704 | NS      | $10547306.88  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corporation                         | Avista Corporation                                   | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |    316107 | NS      | $13108957.29  | 1.45%             |  |  |  | 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        |   8852482 | PA      | $8852482.30   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| NorthWestern Energy Group Inc              | NorthWestern Corporation                             | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |    239563 | NS      | $13949753.49  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Viavi Solutions Inc                        | Viavi Solutions, Inc.                                | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |    868837 | NS      | $9192295.46   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackline Inc                              | BlackLine, Inc.                                      | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Long             | EC               | CORP              | US        |    325184 | NS      | $15358440.32  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                                    | AZZ, Inc.                                            | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |    169432 | NS      | $14699920.32  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Seacoast Banking Corporation Of Florida    | Seacoast Banking Corporation of Florida              | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               | CORP              | US        |    782435 | NS      | $18551533.85  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GMS Inc                                    | GMS, INC.                                            | CUSIP: 36251C103<br>LEI: 52990057RENOQO4U0D72 | Long             | EC               | CORP              | US        |    247387 | NS      | $18123571.62  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Interparfums Inc                           | Inter Parfums, Inc.                                  | CUSIP: 458334109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     84918 | NS      | $9273045.60   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| First Bancorp. Inc.                        | First Bancorp/NC                                     | CUSIP: 318910106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    463287 | NS      | $18744592.02  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil And Gas, Inc.                 | Northern Oil and Gas, Inc.                           | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |    644847 | NS      | $15669782.10  | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities Inc                    | Century Communities, Inc.                            | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |    294662 | NS      | $16070865.48  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group Inc.             | Everus Construction Group                            | CUSIP: 300426103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    488446 | NS      | $19655067.04  | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawkins Inc                                | Hawkins, Inc.                                        | CUSIP: 420261109<br>LEI: 549300VL3IJ23OWX1Y34 | Long             | EC               | CORP              | US        |    143329 | NS      | $17454605.62  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermon Group Holdings Inc                 | Thermon Group Holdings, Inc.                         | CUSIP: 88362T103<br>LEI: 529900ZNZBBLDE77MZ38 | Long             | EC               | CORP              | US        |    365629 | NS      | $9590448.67   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Academy Sports and Outdoors Inc            | Academy Sports & Outdoors, Inc.                      | CUSIP: 00402L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    457915 | NS      | $17254237.20  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Stepan Co                                  | Stepan Company                                       | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Long             | EC               | CORP              | US        |    338881 | NS      | $17133823.36  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc                            | Alamo Group, Inc.                                    | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |    104177 | NS      | $17395475.46  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Yeti Holdings Inc                          | Yeti Holdings, Inc.                                  | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |    337008 | NS      | $9621578.40   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc.                                | Rambus, Inc.                                         | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |    270697 | NS      | $13207306.63  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Coastal Financial Corp.                    | Coastal Financial Corp/WA                            | CUSIP: 19046P209<br>LEI: 549300XG5L36T6IU0B47 | Long             | EC               | CORP              | US        |    120997 | NS      | $9939903.55   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Conmed Corporation                         | CONMED Corporation                                   | CUSIP: 207410101<br>LEI: Z6C0YCECH9DCU5ZIQW84 | Long             | EC               | CORP              | US        |    349950 | NS      | $17186044.50  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank Holdings Corp                | National Bank Holdings Corporation                   | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    383568 | NS      | $13869818.88  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Amerisafe Inc                              | Amerisafe, Inc.                                      | CUSIP: 03071H100<br>LEI: 2549002B4EXPBLGMNN22 | Long             | EC               | CORP              | US        |    176425 | NS      | $8201998.25   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Prestige Consumer Healthcare Inc           | Prestige Consumer Healthcare, Inc.                   | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    218986 | NS      | $17788232.78  | 1.97%             |  |  |  | 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        |    430887 | NS      | $17933516.94  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Vital Energy Inc                           | Vital Energy, Inc.                                   | CUSIP: 516806205<br>LEI: 549300X0PTWU2QSLSL14 | Long             | EC               | CORP              | US        |    608900 | NS      | $8634202.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Potlatchdeltic Corp.                       | PotlatchDeltic Corporation REIT                      | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |    437515 | NS      | $16796200.85  | 1.86%             |  |  |  | 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      | $8978220.82   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Plymouth Industrial REIT Inc.              | Plymouth Industrial REIT, Inc.                       | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1224643 | NS      | $18210441.41  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp                 | Sensient Technologies Corporation                    | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |    132696 | NS      | $12466789.20  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solutions, Inc.  | Kratos Defense & Security Solutions, Inc.            | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |    276714 | NS      | $9348782.49   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TXNM Energy Inc.                           | TXNM Energy, Inc.                                    | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |    344182 | NS      | $18310482.40  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcbest Corporation                        | ArcBest Corporation                                  | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |    216106 | NS      | $12646523.12  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc.                 | Merit Medical Systems, Inc.                          | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |    190053 | NS      | $17950505.85  | 1.99%             |  |  |  | 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      | $7884205.15   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-21

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

**Signature:** Daniel D. Bauer

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

**Title:** Treasurer