# EDGAR Filing Document

**Accession Number:** 0001545440
**File Stem:** 0001752724-23-020737
**Filing Date:** 2023-2
**Character Count:** 17816
**Document Hash:** df8aa0f922422959bac774cb6a7a8399
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-020737.hdr.sgml**: 20230209

**ACCESSION NUMBER**: 0001752724-23-020737

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230209

**DATE AS OF CHANGE**: 20230209

**PERIOD START**: 20221231

**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:** 23605885

**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 Salient Global Real Estate Fund (Series ID: S000077490)

| Class ID   | Class Name                                                    | Ticker Symbol   |
|:---|:---|:---|
| C000237958 | Westwood Salient Global Real Estate Fund A Class Shares       |  |
| C000237959 | Westwood Salient Global Real Estate Fund C Class Shares       |  |
| C000237960 | Westwood Salient Global Real Estate Fund Institutional Shares |  |

## 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 SALIENT GLOBAL REAL ESTATE FUND

- **b. EDGAR series identifier (if any):** S000077490

- **c. LEI of Series:** 549300LYVXZCT5OJPB58

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $20077801.07

**Total Liabilities:** $49225.46

**Net Assets:** $20028575.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237959 | 1.86%                | 8.24%                | -4.84%               |
| Class ID C000237960 | 2.96%                | 9.34%                | -3.86%               |
| Class ID C000237958 | -2.95%               | 5.98%                | -6.75%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-51629.29               | $612661.02                                 |
| Month 2  | $-157519.93              | $2015107.88                                |
| Month 3  | $-215142.14              | $-735207.41                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GPT Group                                   | GPT GROUP                                          | CUSIP: Q4252X155<br>LEI: 549300N0X6IGFL5O5R09 | Long             | EC               | CORP              | AU        |    190000 | NS      | $541827.51    | 2.71%             |  |  |  | No            |                  2 | On Loan: No      |
| CapitaLand Integrated Commercial Trust Ltd. | CAPITAMALL TRUST                                   | CUSIP: Y1100L160<br>LEI: 54930031292WUTXF0L29 | Long             | EC               | CORP              | SG        |     60786 | NS      | $92711.54     | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Tatemono Co Ltd                       | TOKYO TATEMONO CO LTD                              | CUSIP: J88333133<br>LEI: 529900RQA4JTW1869J86 | Long             | EC               | CORP              | JP        |     49500 | NS      | $599168.58    | 2.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Granite Real Estate Investment Trust        | Granite Real Estate Investment Trust               | CUSIP: 387437114<br>LEI: 549300U7HUKRB4S4KZ73 | Long             | EC               | CORP              | CA        |     11300 | NS      | $576538.28    | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Realty & Devmt Co Ltd              | Sumitomo Realty & Development Company Ltd.         | CUSIP: J77841112<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     27000 | NS      | $636232.64    | 3.18%             |  |  |  | No            |                  2 | On Loan: No      |
| CubeSmart L.P.                              | CubeSmart REIT                                     | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13000 | NS      | $523250.00    | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Hung Kai Properties Ltd                 | Sun Hung Kai Properties Ltd.                       | CUSIP: Y82594121<br>LEI: 529900LUMD393RD3S874 | Long             | EC               | CORP              | HK        |     30000 | NS      | $409774.85    | 2.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Federal Realty Investment Trust             | Federal Realty Investment Trust REIT               | CUSIP: 313745101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7000 | NS      | $707280.00    | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Link Real Estate Investment Trust           | Link REIT (The)                                    | CUSIP: Y5281M111<br>LEI: 529900XUE70U36QX5M62 | Long             | EC               | CORP              | HK        |     43000 | NS      | $314640.79    | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Summit Industrial Income REIT               | Summit Industrial Income REIT                      | CUSIP: 866120116<br>LEI: 2549002JNRHTJ9H0MR86 | Long             | EC               | CORP              | CA        |     47500 | NS      | $796022.75    | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation                  | American Tower Corporation                         | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      2000 | NS      | $423720.00    | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SEGRO PLC                                   | Segro Plc                                          | CUSIP: G80277141<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               | CORP              | GB        |     32700 | NS      | $301141.69    | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Swire Properties Ltd.                       | Swire Properties Ltd.                              | CUSIP: Y83191109<br>LEI: 5299001L12PHYVQ92465 | Long             | EC               | CORP              | HK        |     76000 | NS      | $192497.04    | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Vonovia SE                                  | Vonovia SE                                         | CUSIP: D9581T100<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | EC               | CORP              | DE        |     14000 | NS      | $329891.28    | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Farmland Partners Inc                       | FARMLAND PARTNERS, INC.                            | CUSIP: 31154R109<br>LEI: 549300LB188CHPZ4IL37 | Long             | EC               | CORP              | US        |     30000 | NS      | $373800.00    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Scentre Group Ltd.                          | Scentre Group REIT                                 | CUSIP: Q8351E109<br>LEI: 529900TUCASM3W86E831 | Long             | EC               | CORP              | AU        |    154000 | NS      | $299740.15    | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Hufvudstaden AB                             | Hufvudstaden AB                                    | CUSIP: W30061126<br>LEI: 213800UEV5ZAFFVQ4J85 | Long             | EC               | CORP              | SE        |     18300 | NS      | $260537.90    | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Retail Opportunity Investments Corp         | Retail Opportunity Investments Corporation REIT    | CUSIP: 76131N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55000 | NS      | $826650.00    | 4.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Gecina SA                                   | GECINA SA                                          | CUSIP: F4268U171<br>LEI: 9695003E4MMA10IBTR26 | Long             | EC               | CORP              | FR        |      6500 | NS      | $662423.34    | 3.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Gaming and Leisure Properties Inc           | Gaming and Leisure Properties, Inc. REIT           | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     11500 | NS      | $599035.00    | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality Reit Inc                  | Apple Hospitality REIT, Inc.                       | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |     45000 | NS      | $710100.00    | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Inmobiliaria Colonial Socimi S.A.           | INMOBILIARIA COLONIAL SA                           | CUSIP: E6451E105<br>LEI: 95980020140005007414 | Long             | EC               | CORP              | ES        |     95000 | NS      | $611250.39    | 3.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Great Portland Estates PLC                  | Great Portland Estates Ltd.                        | CUSIP: G40712211<br>LEI: 213800JMEDD2Q4N1MC42 | Long             | EC               | CORP              | GB        |     43500 | NS      | $259240.53    | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Estate Co Ltd                    | Mitsubishi Estate Company Ltd.                     | CUSIP: J43916113<br>LEI: 353800KOFMRGOXSJ5Z65 | Long             | EC               | CORP              | JP        |     50600 | NS      | $655346.17    | 3.27%             |  |  |  | No            |                  2 | On Loan: No      |
| FIRST AMERN FDS INC                         | FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND CLASS X | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    800067 | PA      | $800066.78    | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co.                 | DiamondRock Hospitality Company REIT               | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |     20000 | NS      | $163800.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                  | Americold Realty Trust, Inc.                       | CUSIP: 03064D108<br>LEI: 549300R7N1V5YV8MWH02 | Long             | EC               | CORP              | US        |     24200 | NS      | $685102.00    | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc.                                 | Ventas, Inc. REIT                                  | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |      7500 | NS      | $337875.00    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                               | Equinix, Inc. REIT                                 | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1000 | NS      | $655030.00    | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitaland Investment Ltd.                  | CAPITAMALL TRUST                                   | CUSIP: Y1091P105<br>LEI: 254900AT4UQDU7SNXX49 | Long             | EC               | CORP              | SG        |    300000 | NS      | $829108.03    | 4.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Independence Realty Trust Inc               | Independence Realty Trust, Inc.                    | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |     25000 | NS      | $421500.00    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Vici Properties Inc                         | Vici Properties, Inc                               | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     10000 | NS      | $324000.00    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                    | Digital Realty Trust, Inc. REIT                    | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      4000 | NS      | $401080.00    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Henderson Land Development Co Ltd           | Henderson Land Development Company Ltd.            | CUSIP: Y31476107<br>LEI: 529900SYQB7IVR9QGN76 | Long             | EC               | CORP              | HK        |     63000 | NS      | $219312.38    | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Potlatchdeltic Corp.                        | PotlatchDeltic Corporation REIT                    | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |      7800 | NS      | $343122.00    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc.                               | Prologis, Inc. REIT                                | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      5500 | NS      | $620015.00    | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Trust           | National Storage Affiliates Trust                  | CUSIP: 637870106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12000 | NS      | $433440.00    | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Fudosan Co Ltd                       | Mitsui Fudosan Company Ltd.                        | CUSIP: J4509L101<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |     38000 | NS      | $694413.93    | 3.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.       | Alexandria Real Estate Equities, Inc. REIT         | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |      4700 | NS      | $684649.00    | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Merlin Properties Socimi S.A.               | MERLIN PROPERTIES                                  | CUSIP: E7390Z100<br>LEI: 959800L8KD863DP30X04 | Long             | EC               | CORP              | ES        |     65000 | NS      | $609815.75    | 3.04%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-23

**Name of Applicant:** Westwood Salient Global Real Estate Fund

**Signature:** Jennifer L. Leamer

**Name of Signer:** Jennifer L. Leamer

**Title:** Treasurer