# EDGAR Filing Document

**Accession Number:** 0001545440
**File Stem:** 0001752724-23-009062
**Filing Date:** 2023-1
**Character Count:** 20699
**Document Hash:** f71fc91f7c00584ff59b26ec1fea392a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-009062.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001752724-23-009062

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230123

**PERIOD START**: 20230531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ultimus Managers Trust
- **CENTRAL INDEX KEY:** 0001545440
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22680
- **FILM NUMBER:** 23544176

**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

### Kempner Multi-Cap Deep Value Fund (Series ID: S000057335)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000182952 | Institutional Class | FIKDX           |
| C000182953 | Investor Class      | FAKDX           |

## 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:** KEMPNER MULTI-CAP DEEP VALUE FUND

- **b. EDGAR series identifier (if any):** S000057335

- **c. LEI of Series:** 549300G85QLXC2OKXF25

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

- **a. Date of fiscal year-end:** 2023-05-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $79166672.20

**Total Liabilities:** $72616.28

**Net Assets:** $79094055.92

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000182952 | -10.31%              | 11.69%               | 5.91%                |
| Class ID C000182953 | -10.38%              | 11.58%               | 6.01%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-641141.31              | $-7226291.67                               |
| Month 2  | $-797860.53              | $8582221.42                                |
| Month 3  | $0.00                    | $4257630.62                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Walt Disney Company                            | Walt Disney Company (The)                                | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     23500 | NS      | $2299945.00   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc.                                  | Teradyne, Inc.                                           | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |     18000 | NS      | $1682100.00   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                            | Cisco Systems, Inc.                                      | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     44520 | NS      | $2213534.40   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc.                         | Micron Technology, Inc.                                  | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     44400 | NS      | $2559660.00   | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                            | Deutsche Telekom AG ADR                                  | CUSIP: 251566105<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |     84869 | NS      | $1733024.98   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                                  | Rio Tinto plc ADR                                        | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | US        |     15100 | NS      | $1036464.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services Inc     | Fidelity National Information Services, Inc.             | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     25600 | NS      | $1858048.00   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.   | Taiwan Semiconductor Manufacturing Company Ltd. ADR      | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     28100 | NS      | $2331738.00   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc                   | Citizens Financial Group, Inc.                           | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     30900 | NS      | $1309542.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Continental AG                                 | Continental AG ADR                                       | CUSIP: 210771200<br>LEI: 529900A7YD9C0LLXM621 | Long             | EC               | CORP              | DE        |    296600 | NS      | $1781468.58   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International PLC             | Johnson Controls International plc                       | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | US        |     31549 | NS      | $2096115.56   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Vitesco Technologies Group AG                  | Vitesco Technologies Group Aktiengesellschaft ADR        | CUSIP: 92853L108<br>LEI: 529900CCDMZ7UCYYS252 | Long             | EC               | CORP              | DE        |     10090 | NS      | $104930.96    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                                | Caterpillar, Inc.                                        | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      7100 | NS      | $1678511.00   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV                   | LyondellBasell Industries N.V. Class A                   | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | US        |     12500 | NS      | $1062625.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                                    | Viatris, Inc.                                            | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |     39100 | NS      | $431273.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| V.F. Corp                                      | VF Corporation                                           | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | EC               | CORP              | US        |     34300 | NS      | $1125726.00   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions, Inc.                       | Skyworks Solutions, Inc.                                 | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |     23900 | NS      | $2285318.00   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                            | Comcast Corporation Class A                              | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     42300 | NS      | $1549872.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERN FDS INC                            | First American Treasury Obligations Fund Class X         | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   4365388 | PA      | $4365388.20   | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                     | Amgen, Inc.                                              | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      2150 | NS      | $615760.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc.                                      | eBay, Inc.                                               | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     32900 | NS      | $1494976.00   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie Generale des Etablissements Michelin | Cie Generale des Etablissements Michelin Unsponsored ADR | CUSIP: 59410T106<br>LEI: 549300SOSI58J6VIW052 | Long             | EC               | CORP              | FR        |     82144 | NS      | $1149194.56   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation                    | Bank of America Corporation                              | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     81720 | NS      | $3093102.00   | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Limited                           | Schlumberger Ltd.                                        | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     38055 | NS      | $1961735.25   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Dupont De Nemours Inc                          | DuPont de Nemours, Inc.                                  | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |      9700 | NS      | $683947.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Vuitton SE                  | LVMH MOET HENNESSY-UNSP ADR Sponsored ADR                | CUSIP: 502441306<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | US        |      3500 | NS      | $535500.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corporation                   | Truist Financial Corporation                             | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |     32300 | NS      | $1511963.00   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corporation                             | Lennar Corporation Class B                               | CUSIP: 526057302<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |     26350 | NS      | $1913273.50   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Brands, Inc.                            | Acuity Brands, Inc.                                      | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11085 | NS      | $2087194.65   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                                 | Citigroup, Inc.                                          | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     54100 | NS      | $2618981.00   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Adidas AG                                      | adidas AG ADR                                            | CUSIP: 00687A107<br>LEI: 549300JSX0Z4CW0V5023 | Long             | EC               | CORP              | DE        |     20550 | NS      | $1325680.50   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Global                               | Paramount Global Class B                                 | CUSIP: 92556H206<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | EC               | CORP              | US        |     37010 | NS      | $743160.80    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Global                               | PARAMOUNT GLOBAL 5.75% CONV PRFERRED A                   | CUSIP: 92556H305<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | EP               | CORP              | US        |     13500 | NS      | $422415.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Natural Resources Company              | Pioneer Natural Resources Company                        | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |      3600 | NS      | $849564.00    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Organon & Co                                   | Organon & Co.                                            | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |     52843 | NS      | $1374974.86   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corporation                              | FedEx Corporation                                        | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     11400 | NS      | $2077308.00   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings Inc                         | Equitable Holdings, Inc.                                 | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |     60150 | NS      | $1909161.00   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Re Group Ltd.                          | Everest Re Group Ltd.                                    | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | US        |      6200 | NS      | $2095228.00   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Incorporated                         | Ingredion, Inc.                                          | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |      9800 | NS      | $960106.00    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corporation                   | Lincoln National Corporation                             | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     74850 | NS      | $2914659.00   | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| The Hartford Financial Services Group, Inc.    | Hartford Financial Services Group, Inc. (The)            | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     11650 | NS      | $889710.50    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                         | BP plc ADR                                               | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | US        |     89120 | NS      | $3199408.00   | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corporation                       | Kinross Gold Corporation                                 | CUSIP: 496902404<br>LEI: 549300UEBMAQDN0K0R06 | Long             | EC               | CORP              | CA        |    160600 | NS      | $663278.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Holdings Co.                             | Crane Holdings Co                                        | CUSIP: 224441105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9600 | NS      | $1017024.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd.                                 | BHP Billiton Ltd. ADR                                    | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | US        |      6900 | NS      | $433320.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                                        | Dow, Inc.                                                | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |     15449 | NS      | $787435.53    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Company                         | General Motors Company                                   | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     92720 | NS      | $3760723.20   | 4.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                      | Shell plc                                                | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | US        |     39454 | NS      | $2306875.38   | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-21

**Name of Applicant:** Kempner Multi-Cap Deep Value Fund

**Signature:** Daniel Bauer

**Name of Signer:** Daniel Bauer

**Title:** Assistant Treasurer