# EDGAR Filing Document

**Accession Number:** 0001545440
**File Stem:** 0000910472-26-005716
**Filing Date:** 2026-4
**Character Count:** 11212
**Document Hash:** c44b21d26376f7f618b8a0cfabe6819a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-005716.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0000910472-26-005716

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**PERIOD START**: 20261130

**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:** 26896762

**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

### Q3 All-Season Active Rotation ETF (Series ID: S000077993)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000238715 | Q3 All-Season Active Rotation ETF | QVOY            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Q3 ALL-SEASON ACTIVE ROTATION ETF** | **Q3 ALL-SEASON ACTIVE ROTATION ETF** | **Q3 ALL-SEASON ACTIVE ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** |
| **EXCHANGE-TRADED FUNDS - 99.5%** | **Shares** | **Value** |
| **Commodity - 29.1%** |  |  |
| abrdn Physical Platinum Shares ETF <sup>(a)</sup> | &nbsp;&nbsp;11287 | &nbsp;&nbsp;$2423657 |
| Global X Uranium ETF | &nbsp;&nbsp;46000 | &nbsp;&nbsp;2499640 |
| SPDR Gold MiniShares Trust <sup>(a)</sup> | &nbsp;&nbsp;25383 | &nbsp;&nbsp;2643386 |
| VanEck Gold Miners ETF | &nbsp;&nbsp;72790 | &nbsp;&nbsp;8431994 |
|  |  | &nbsp;&nbsp;15998677 |
| **Equity - 67.0%** |  |  |
| State Street Energy Select Sector SPDR Fund | &nbsp;&nbsp;128000 | &nbsp;&nbsp;7157760 |
| VanEck Oil Services ETF | &nbsp;&nbsp;20321 | &nbsp;&nbsp;8066827 |
| Vanguard FTSE Pacific ETF | &nbsp;&nbsp;69000 | &nbsp;&nbsp;7516170 |
| Vanguard Small-Cap Growth ETF | &nbsp;&nbsp;22062 | &nbsp;&nbsp;7066238 |
| Vanguard Small-Cap Value ETF | &nbsp;&nbsp;30395 | &nbsp;&nbsp;6987810 |
|  |  | &nbsp;&nbsp;36794805 |
| **Fixed Income - 3.4%** |  |  |
| iShares Broad USD High Yield Corporate Bond ETF | &nbsp;&nbsp;17000 | &nbsp;&nbsp;635630 |
| State Street SPDR Portfolio Mortgage Backed Bond ETF | &nbsp;&nbsp;24641 | &nbsp;&nbsp;562308 |
| Vanguard Emerging Markets Government Bond ETF | &nbsp;&nbsp;9600 | &nbsp;&nbsp;656160 |
|  |  | &nbsp;&nbsp;1854098 |
| **Investments at Value - 99.5%** (Cost $49,294,758) | **Investments at Value - 99.5%** (Cost $49,294,758) | &nbsp;&nbsp;$54647580 |
| **Other Assets in Excess of Liabilities - 0.5%** | **Other Assets in Excess of Liabilities - 0.5%** | &nbsp;&nbsp;288539 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$54936119 |

---

<sup>(a)</sup> Non-income producing security.

---

| | | |
|:---|:---|:---|
| **Q3 ALL-SEASON TACTICAL ADVANTAGE ETF** | **Q3 ALL-SEASON TACTICAL ADVANTAGE ETF** | **Q3 ALL-SEASON TACTICAL ADVANTAGE ETF** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** |
| **EXCHANGE-TRADED FUNDS - 52.4%** | **Shares** | **Value** |
| **Equity - 52.4%** |  |  |
| Invesco Nasdaq 100 ETF (Cost $26,260,192) | &nbsp;&nbsp;103542 | &nbsp;&nbsp;$25891713 |
| **Other Assets in Excess of Liabilities - 47.6%** | **Other Assets in Excess of Liabilities - 47.6%** | &nbsp;&nbsp;23509317 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$49401030 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS** | **Contracts** | **Expiration Date** | **Notional Value** | **Value/Unrealized (Depreciation)** |
| **Index Futures** | **Index Futures** | **Index Futures** | **Index Futures** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NASDAQ 100 E-Mini Futures | 100 | 3/20/2026 | &nbsp;&nbsp;$50009500 | &nbsp;&nbsp;$(1303588) |

---

The average monthly notional value of futures contracts during the period ended February 28, 2026 was $32,242,967.

## 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:** Q3 ALL SEASON ACTIVE ROTATION ETF

- **b. EDGAR series identifier (if any):** S000077993

- **c. LEI of Series:** 549300O4LWJNM0LBVU10

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

- **a. Date of fiscal year-end:** 2026-11-30

- **b. Date as of which information is reported:** 2026-02-28

**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:** $54973998.87

**Total Liabilities:** $37880.07

**Net Assets:** $54936118.80

**Cash Not Reported:** $310846.77

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000238715 | 1.79%                | 3.83%                | 7.52%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $714986.40               | $-154603.12                                |
| Month 2  | $563520.09               | $1155044.83                                |
| Month 3  | $755649.16               | $3187263.77                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| abrdn Platinum ETF Trust                  | abrdn Platinum ETF Trust                                  | CUSIP: 003260106<br>LEI: N/A                  | Long             | EC               | RF                | US        |     11287 | NS      | $2423657.51   | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                          | VanEck Oil Services ETF USD Class                         | CUSIP: 92189H607<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |     20321 | NS      | $8066827.37   | 14.68%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                      | Vanguard Small-Cap Growth ETF                             | CUSIP: 922908595<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |     22062 | NS      | $7066237.98   | 12.86%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                         | SPDR Portfolio Mortgage Backed Bond ETF                   | CUSIP: 78464A383<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     24641 | NS      | $562307.62    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard International Equity Index Funds | Vanguard FTSE Pacific ETF                                 | CUSIP: 922042866<br>LEI: 549300UR5XWDVDO7NP96 | Long             | EC               | RF                | US        |     69000 | NS      | $7516170.00   | 13.68%            |  |  |  | No            |                  1 | On Loan: No      |
| Select Sector Spdr Trust                  | State Street Energy Select Sector SPDR ETF USD Class      | CUSIP: 81369Y506<br>LEI: 5493008JJKIPMEX3CO91 | Long             | EC               | RF                | US        |    128000 | NS      | $7157760.00   | 13.03%            |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                          | VanEck Gold Miners ETFA                                   | CUSIP: 92189F106<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |     72790 | NS      | $8431993.60   | 15.35%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                             | iShares Broad USD High Yield Corporate Bond ETF USD Class | CUSIP: 46435U853<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     17000 | NS      | $635630.00    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| World Gold Trust                          | SPDR Gold MiniShares Trust                                | CUSIP: 98149E303<br>LEI: 549300DGCWLK8TGZ0C89 | Long             | EC               | RF                | US        |     25383 | NS      | $2643385.62   | 4.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Funds                            | Global X Uranium ETF                                      | CUSIP: 37954Y871<br>LEI: 5493003RA4QUTSYF1N15 | Long             | EC               | RF                | US        |     46000 | NS      | $2499640.00   | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Whitehall Funds                  | Vanguard Emerging Markets Government Bond ETF             | CUSIP: 921946885<br>LEI: 5493006QD7VQBS2FQD13 | Long             | EC               | RF                | US        |      9600 | NS      | $656160.00    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                      | Vanguard Small-Cap Value ETF                              | CUSIP: 922908611<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |     30395 | NS      | $6987810.50   | 12.72%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-28

**Name of Applicant:** Q3 All Season Active Rotation ETF

**Signature:** Daniel D. Bauer

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

**Title:** Treasurer