# EDGAR Filing Document

**Accession Number:** 0001545440
**File Stem:** 0000910472-26-000700
**Filing Date:** 2026-1
**Character Count:** 15037
**Document Hash:** 4561dcffdd9e87804773423e1d79b6b8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-000700.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0000910472-26-000700

**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**: 20260531

**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:** 26567796

**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

### Wavelength Fund (Series ID: S000042074)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000130673 | Wavelength Fund | WAVLX           |

## 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:** WAVELENGTH FUND

- **b. EDGAR series identifier (if any):** S000042074

- **c. LEI of Series:** 549300P8Q6IFOHV2AT44

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

- **a. Date of fiscal year-end:** 2026-05-31

- **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:** $102861314.02

**Total Liabilities:** $589590.10

**Net Assets:** $102271723.92

**Cash Not Reported:** $2283151.78

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000130673 | 1.61%                | 0.81%                | 0.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $55970.36                | $475225.40                                 |
| Month 2  | $68401.19                | $-31122.60                                 |
| Month 3  | $1177.71                 | $-71639.63                                 |

**Designated Index Information**

- **Index Name:** S&P Target Risk Moderate Index TR (USD)

- **Index Identifier:** SPTGTSPTGMUT

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHICAGO BOARD OF TRADE                                        | E-mini Dow Jones Industrial Average Index Futures 2025-12-19    | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DE               | CORP              | US        |         2 | NS      | $13770.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                                          | Vanguard Real Estate ETF                                        | CUSIP: 922908553<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      5687 | NS      | $519450.58    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                        | CBOT 10 Year US Treasury Note 2026-03-20                        | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |        81 | NS      | $-16900.90    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                             | SPDR Bloomberg Short Term High Yield Bond ETF  ETF              | CUSIP: 78468R408<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    411963 | NS      | $10488577.98  | 10.26%            |  |  |  | No            |                  1 | On Loan: No      |
| Short-Term Invts T                                            | Invesco Treasury Portfolio Institutional Class                  | CUSIP: 825252406<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |   2717899 | PA      | $2717898.62   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Exchange Traded Fund Trust II                         | Invesco Senior Loan ETF                                         | CUSIP: 46138G508<br>LEI: O540V2L4S174Y60FMD36 | Long             | EC               | RF                | US        |    510701 | NS      | $10683864.92  | 10.45%            |  |  |  | No            |                  1 | On Loan: —       |
| iShares Trust                                                 | iShares J.P. Morgan USD Emerging Markets Bond ETF               | CUSIP: 464288281<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     34400 | NS      | $3327512.00   | 3.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Actively Managed Exchange-Traded Commodity Fund Trust | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | CUSIP: 46090F100<br>LEI: 549300J84F1VGX03MG06 | Long             | EC               | RF                | US        |     94199 | NS      | $1295236.25   | 1.27%             |  |  |  | No            |                  1 | On Loan: —       |
| Deutsche Dws Money Market Tr                                  | DWS Government Money Market Series Institutional Class          | CUSIP: 25160K207<br>LEI: 549300LJHPNV587EFB75 | Long             | STIV             | RF                | US        |   2797390 | PA      | $2797389.61   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | iShares TIPS Bond ETF                                           | CUSIP: 464287176<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     57611 | NS      | $6409799.86   | 6.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Whitehall Funds                                      | Vanguard Emerging Markets Government Bond ETF                   | CUSIP: 921946885<br>LEI: 5493006QD7VQBS2FQD13 | Long             | EC               | RF                | US        |     49224 | NS      | $3343786.32   | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Funds                                                | Global X MLP ETF                                                | CUSIP: 37954Y343<br>LEI: 5493003RA4QUTSYF1N15 | Long             | EC               | RF                | US        |      6678 | NS      | $327823.02    | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Chicago Board of Trade                                        | CBOT 5 Year US Treasury Note 2026-03-31                         | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |       121 | NS      | $-19723.03    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER                                   | Comex Miny Gold 2026-01-28                                      | CUSIP: N/A<br>LEI: 5493008GFNDTXFPHWI47       | Long             | DCO              | CORP              | US        |        10 | NS      | $58843.80     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE (FLOOR)                           | CME E-Mini NASDAQ 100 Index Future 2025-12-19                   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DE               | CORP              | US        |         4 | NS      | $37651.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                             | SPDR Bloomberg Convertible Securities ETF Securities Etf        | CUSIP: 78464A359<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     57652 | NS      | $5221541.64   | 5.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Vanguard Malvern Funds                                        | Vanguard Short-Term Inflation-Protected Securities ETF          | CUSIP: 922020805<br>LEI: 549300EW16IGZDA38J20 | Long             | EC               | RF                | US        |    202646 | NS      | $10162696.90  | 9.94%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | IShares Broad USD High Yield Corporate Bond ETF                 | CUSIP: 46435U853<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |    200215 | NS      | $7536092.60   | 7.37%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds                                          | First American Govt OB FD Cl X                                  | CUSIP: 31846V336<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  32823844 | PA      | $32823844.02  | 32.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Scottsdale Funds                                     | Vanguard Mortgage-Backed Securities ETF                         | CUSIP: 92206C771<br>LEI: 549300Y88GQ3VLJIBX57 | Long             | EC               | RF                | US        |    245768 | NS      | $11627284.08  | 11.37%            |  |  |  | No            |                  1 | On Loan: —       |
| VanEck ETF Trust                                              | VanEck Emerging Markets High Yield Bond ETF                     | CUSIP: 92189F353<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |    242418 | NS      | $4802300.58   | 4.70%             |  |  |  | No            |                  1 | On Loan: —       |
| Fidelity Colchester Street Trust                              | Fidelity Institutional Money Market Government Portfolio        | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |   3338106 | PA      | $3338105.54   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | iShares National Muni Bond ETF                                  | CUSIP: 464288414<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     35096 | NS      | $3770363.28   | 3.69%             |  |  |  | No            |                  1 | On Loan: —       |
| CHICAGO MERCANTILE EXCHANGE (FLOOR)                           | CME E-Mini Standard & Poor's 500 Index Future 2025-12-19        | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DE               | CORP              | US        |         7 | NS      | $65121.75     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                        | CBOT 2 Year US Treasury Note Future 2026-03-31                  | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |        66 | NS      | $-6936.25     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                        | CBOT US Treasure Bond Futures 2026-03-20                        | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DCO              | CORP              | US        |        39 | NS      | $-15036.61    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | iShares Preferred and Income Securities ETF                     | CUSIP: 464288687<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     87968 | NS      | $2722609.60   | 2.66%             |  |  |  | No            |                  1 | On Loan: —       |
| VanEck ETF Trust                                              | VanEck J. P. Morgan EM Local Currency Bond ETF ETF              | CUSIP: 92189H300<br>LEI: 549300ZLFKNTXC51ZN76 | Long             | EC               | RF                | US        |    250241 | NS      | $6406169.60   | 6.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Trust                                           | Goldman Sachs Treasury Obligations Fund Institutional Class     | CUSIP: 38141W323<br>LEI: S2FHCT8U6D2VORP0J605 | Long             | STIV             | RF                | US        |   2876881 | PA      | $2876880.63   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S.                                              | ICE US MSCI Emerging Markets EM Index Futures 2025-12-19        | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | Long             | DE               | CORP              | US        |        30 | NS      | $1772.90      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Wavelength Fund

**Signature:** Daniel D. Bauer

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

**Title:** Treasurer