# EDGAR Filing Document

**Accession Number:** 0001545440
**File Stem:** 0000910472-26-000698
**Filing Date:** 2026-1
**Character Count:** 7834
**Document Hash:** d6658af433bd982b9dcedb691edab220
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-000698.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0000910472-26-000698

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260127

**PERIOD START**: 20251130

**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:** 26567794

**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            |

## 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:** 2025-11-30

- **b. Date as of which information is reported:** 2025-11-30

**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:** $51105708.68

**Total Liabilities:** $52886.57

**Net Assets:** $51052822.11

**Cash Not Reported:** $90766.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000238715 | 5.81%                | 2.24%                | -1.30%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $491232.45               | $2052429.53                                |
| Month 2  | $971649.65               | $124996.37                                 |
| Month 3  | $1088257.13              | $-1790563.70                               |

### 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        |     17174 | NS      | $2620580.66   | 5.13%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck ETF Trust                          | VanEck Oil Services ETF USD Class                 | CUSIP: 92189H607<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |     24234 | NS      | $7018408.74   | 13.75%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                             | iShares 20+ Year Treasury Bond ETF USD Class      | CUSIP: 464287432<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      5861 | NS      | $528720.81    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Covington Trust                  | Fidelity MSCI Health Care Index ETF               | CUSIP: 316092600<br>LEI: 549300JFYFTF85QAQR28 | Long             | EC               | RF                | US        |     91000 | NS      | $6902350.00   | 13.52%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                         | SPDR S&P Biotech ETF USD Class                    | CUSIP: 78464A870<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     61489 | NS      | $7572985.24   | 14.83%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                         | SPDR Portfolio Mortgage Backed Bond ETF           | CUSIP: 78464A383<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     23746 | NS      | $536897.06    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard International Equity Index Funds | Vanguard FTSE Pacific ETF                         | CUSIP: 922042866<br>LEI: 549300UR5XWDVDO7NP96 | Long             | EC               | RF                | US        |     73982 | NS      | $6719785.06   | 13.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust, Series 1               | Invesco QQQ Trust Series 1 USD Class              | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |     11000 | NS      | $6811750.00   | 13.34%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                             | iShares J.P. Morgan USD Emerging Markets Bond ETF | CUSIP: 464288281<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      6398 | NS      | $618878.54    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| World Gold Trust                          | SPDR Gold MiniShares Trust                        | CUSIP: 98149E303<br>LEI: 549300DGCWLK8TGZ0C89 | Long             | EC               | RF                | US        |     24522 | NS      | $2046606.12   | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Spdr Dow Jones Ind                        | SPDR Dow Jones Industrial Average ETF Trust       | CUSIP: 78467X109<br>LEI: 54930039F2SG3UG2OZ18 | Long             | EC               | RF                | US        |     15117 | NS      | $7213530.06   | 14.13%            |  |  |  | No            |                  1 | On Loan: No      |
| KraneShares Trust                         | KraneShares Global Carbon Strategy ETF            | CUSIP: 500767678<br>LEI: 549300VLDRC0RUX0E553 | Long             | EC               | RF                | US        |     70100 | NS      | $2398822.00   | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-30

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

**Signature:** Daniel D. Bauer

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

**Title:** Treasurer