Bolton hammered League One title hopefuls Plymouth 4-0 at Wembley to lift the Papa John's Trophy after a thoroughly one-sided final.
Sheffield Wednesday extended their club-record unbeaten league run to a 23rd game but were held to a 1-1 home draw by Bolton.
George Hirst and Cameron Burgess scored as in-form Ipswich beat Bolton 2-0 to end their hosts' unbeaten nine-game home record in the league.