# EDGAR Filing Document

**Accession Number:** 0001545440
**File Stem:** 0000910472-25-002504
**Filing Date:** 2025-10
**Character Count:** 10415
**Document Hash:** ae4598114de064c18d6baa7cc21708d0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-002504.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0000910472-25-002504

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251028

**PERIOD START**: 20250831

**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:** 251426472

**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

### Marshfield Concentrated Opportunity Fund (Series ID: S000052208)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000164234 | Marshfield Concentrated Opportunity Fund | MRFOX           |

## 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:** MARSHFIELD CONCENTRATED OPPORTUNITY FUND

- **b. EDGAR series identifier (if any):** S000052208

- **c. LEI of Series:** 549300PVFMDDT83BPB42

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-31

**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:** $1279562338.37

**Total Liabilities:** $1115300.66

**Net Assets:** $1278447037.71

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000164234 | -1.12%               | 0.65%                | 5.71%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-37.15                  | $-15101044.11                              |
| Month 2  | $396.56                  | $7697156.87                                |
| Month 3  | $1100148.04              | $67401797.17                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MasterCard Incorporated                     | Mastercard, Inc. Class A                                  | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |    119238 | NS      | $70981189.02  | 5.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Company                         | Walt Disney Company (The)                                 | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    285595 | NS      | $33808736.10  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                             | Ross Stores, Inc.                                         | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |    724126 | NS      | $106562382.16 | 8.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                                | Fastenal Company                                          | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    858483 | NS      | $42632265.78  | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International Of Washington Inc. | Expeditors International of Washington, Inc.              | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |    354170 | NS      | $42691651.80  | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Moodys Corp.                                | Moody's Corporation                                       | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     96575 | NS      | $49230072.00  | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc.                    | O'Reilly Automotive, Inc.                                 | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |    777219 | NS      | $80582065.92  | 6.30%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                     | UnitedHealth Group, Inc.                                  | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    259853 | NS      | $80520649.11  | 6.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc.                                | Cummins, Inc.                                             | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |    208405 | NS      | $83036888.20  | 6.50%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                                     | NVR, Inc.                                                 | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |      4459 | NS      | $36196601.35  | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Autozone, Inc.                              | AutoZone, Inc.                                            | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |     34034 | NS      | $142892770.02 | 11.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                    | Visa, Inc. Class A                                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    181374 | NS      | $63803745.72  | 4.99%             |  |  |  | No            |                  1 | On Loan: No      |
| The Progressive Corporation                 | Progressive Corporation (The)                             | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |    255720 | NS      | $63178183.20  | 4.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominos Pizza Inc.                          | Domino's Pizza, Inc.                                      | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |    130342 | NS      | $59735738.60  | 4.67%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies Inc.                      | TJX Companies, Inc. (The)                                 | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |    196048 | NS      | $26782117.28  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Admiral Funds Inc.                 | Vanguard Treasury Money Market Fund Investor Class        | CUSIP: 921932109<br>LEI: 5493001VGEE37B6RMO86 | Long             | STIV             | RF                | US        | 123216423 | PA      | $123216423.22 | 9.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategic Education Inc                     | Strategic Education, Inc.                                 | CUSIP: 86272C103<br>LEI: 2549002UYIM8Q5EC8H36 | Long             | EC               | CORP              | US        |    334866 | NS      | $27241349.10  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Trust                         | GOLDMAN SACHS FINANCIAL SQUARE TREASURY INSTRUMENT S FUND | CUSIP: 38142B500<br>LEI: S2FHCT8U6D2VORP0J605 | Long             | STIV             | RF                | US        |  94022544 | PA      | $94022544.45  | 7.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd.                     | Arch Capital Group Ltd.                                   | CUSIP: G0450A105<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |    545289 | NS      | $49910302.17  | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-31

**Name of Applicant:** Marshfield Concentrated Opportunity Fund

**Signature:** Daniel D. Bauer

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

**Title:** Treasurer