# EDGAR Filing Document

**Accession Number:** 0001600999
**File Stem:** 0001600999-25-000004
**Filing Date:** 2025-8
**Character Count:** 8709
**Document Hash:** b41609698ba2355481e5856b26edc520
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001600999-25-000004.hdr.sgml**: 20250811

**ACCESSION NUMBER**: 0001600999-25-000004

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250811

**DATE AS OF CHANGE**: 20250811

**EFFECTIVENESS DATE**: 20250811

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MANAGED ASSET PORTFOLIOS, LLC
- **CENTRAL INDEX KEY:** 0001600999

**ORGANIZATION NAME:**
- **EIN:** 383567816
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16090
- **FILM NUMBER:** 251201645

**BUSINESS ADDRESS:**
- **STREET 1:** 950 W. UNIVERSITY DRIVE
- **STREET 2:** SUITE 100
- **CITY:** ROCHESTER
- **STATE:** MI
- **ZIP:** 48307
- **BUSINESS PHONE:** 248-601-6677

**MAIL ADDRESS:**
- **STREET 1:** 950 W. UNIVERSITY DRIVE
- **STREET 2:** SUITE 100
- **CITY:** ROCHESTER
- **STATE:** MI
- **ZIP:** 48307

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** MANAGED ASSET PORTFOLIOS LLC<br>**Address:** 950 W. UNIVERSITY DRIVE<br>SUITE 100<br>ROCHESTER, MI 48307

**Form 13F File Number:** 028-16090

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Michael S Dzialo<br>**Title:** President  Chief Investment Officer<br>**Phone:** 248-601-6677

**Signature, Place, and Date of Signing:**

/s/ Michael S. Dzialo  Rochester, MI  08-11-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 48

**Form 13F Information Table Value Total:** $769705395

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

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|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Alphabet Inc CL C | COM | 02079K107 |  | 18936816 | 106752 | SH |  | SOLE |  | 80225 | 0 | 26528 |
| Aon PLC | COM | G0403H108 |  | 19365101 | 54280 | SH |  | SOLE |  | 41391 | 0 | 12889 |
| Apple Inc. | COM | 037833100 |  | 201574 | 982 | SH |  | SOLE |  | 974 | 0 | 8 |
| Applied Materials | COM | 038222105 |  | 15976913 | 87272 | SH |  | SOLE |  | 64483 | 0 | 22789 |
| Arcos Dorados Holdings Inc | COM | G0457F107 |  | 11500679 | 1457627 | SH |  | SOLE |  | 1144198 | 0 | 313430 |
| Bunge Global SA NPV | COM | H11356104 |  | 23748239 | 295818 | SH |  | SOLE |  | 221670 | 0 | 74148 |
| Chevron Corporation | COM | 166764100 |  | 19231957 | 134311 | SH |  | SOLE |  | 99673 | 0 | 34638 |
| Cisco Systems Inc | COM | 17275R102 |  | 34833604 | 502070 | SH |  | SOLE |  | 383263 | 0 | 118807 |
| CME Group Inc | COM | 12572q105 |  | 11085082 | 40219 | SH |  | SOLE |  | 29482 | 0 | 10737 |
| Columbia EM Core ex-China ETF | COM | 19762B202 |  | 659761 | 19303 | SH |  | SOLE |  | 17882 | 0 | 1421 |
| Communication Services Select | COM | 81369Y852 |  | 474493 | 4372 | SH |  | SOLE |  | 4372 | 0 | 0 |
| ConocoPhillips | COM | 20825C104 |  | 6057276 | 67498 | SH |  | SOLE |  | 48321 | 0 | 19177 |
| Consumer Staples Select Sector | COM | 81369Y308 |  | 600069 | 7411 | SH |  | SOLE |  | 7411 | 0 | 0 |
| Eaton Corp PLC | COM | G29183103 |  | 11092839 | 31073 | SH |  | SOLE |  | 23229 | 0 | 7844 |
| Everus Construction Group Inc | COM | 300426103 |  | 17169237 | 270254 | SH |  | SOLE |  | 203675 | 0 | 66579 |
| Fidelity National Information | COM | 31620M106 |  | 8634047 | 106056 | SH |  | SOLE |  | 80157 | 0 | 25900 |
| Fortune Brands Innovations In | COM | 34964C106 |  | 9593296 | 186350 | SH |  | SOLE |  | 135261 | 0 | 51089 |
| Freeport-McMoran Inc | COM | 35671D857 |  | 14377360 | 331658 | SH |  | SOLE |  | 245087 | 0 | 86570 |
| Health Care Select Sector | COM | 81369Y209 |  | 226717 | 1682 | SH |  | SOLE |  | 1682 | 0 | 0 |
| Home Depot Inc | COM | 437076102 |  | 11882511 | 32409 | SH |  | SOLE |  | 25943 | 0 | 6467 |
| Honeywell International Inc | COM | 438516106 |  | 22317481 | 95833 | SH |  | SOLE |  | 70198 | 0 | 25634 |
| Industrial Select Sector SPDR | COM | 81369Y704 |  | 355376 | 2409 | SH |  | SOLE |  | 2409 | 0 | 0 |
| Ishares MSCI Eurozone ETF | COM | 464286608 |  | 1501291 | 25253 | SH |  | SOLE |  | 19659 | 0 | 5594 |
| Johnson  Johnson | COM | 478160104 |  | 26097540 | 170851 | SH |  | SOLE |  | 128485 | 0 | 42367 |
| Kratos Defense  Security | COM | 50077B207 |  | 8295180 | 178583 | SH |  | SOLE |  | 130952 | 0 | 47631 |
| MDU Resources Group Inc. | COM | 552690109 |  | 17511858 | 1050501 | SH |  | SOLE |  | 800081 | 0 | 250420 |
| Medtronic PLC | COM | G5960L103 |  | 26621402 | 305396 | SH |  | SOLE |  | 231461 | 0 | 73936 |
| Meta Platforms Inc. | COM | 30303M102 |  | 35402180 | 47965 | SH |  | SOLE |  | 36034 | 0 | 11931 |
| Micron Technology Inc | COM | 595112103 |  | 15423589 | 125141 | SH |  | SOLE |  | 97009 | 0 | 28132 |
| Microsoft | COM | 594918104 |  | 44928936 | 90326 | SH |  | SOLE |  | 70160 | 0 | 20166 |
| Montrose Environmental Group | COM | 615111101 |  | 468731 | 21413 | SH |  | SOLE |  | 4765 | 0 | 16648 |
| National Fuel Gas Company | COM | 636180101 |  | 32275610 | 381013 | SH |  | SOLE |  | 284005 | 0 | 97008 |
| Novartis AG-ADR | COM | 66987V109 |  | 23843778 | 197040 | SH |  | SOLE |  | 159030 | 0 | 38010 |
| Orange - ADR | COM | 684060106 |  | 24420097 | 1607643 | SH |  | SOLE |  | 1301037 | 0 | 306606 |
| Philip Morris Intl Inc. | COM | 718172109 |  | 2376199 | 13047 | SH |  | SOLE |  | 7390 | 0 | 5656 |
| PriceSmart Inc | COM | 741511109 |  | 15719579 | 149653 | SH |  | SOLE |  | 111534 | 0 | 38119 |
| Sanofi ADR | COM | 80105N105 |  | 29420742 | 608999 | SH |  | SOLE |  | 499724 | 0 | 109275 |
| Six Flags Entertainment Corp | COM | 83001C108 |  | 8179188 | 268787 | SH |  | SOLE |  | 199452 | 0 | 69335 |
| SPDR Bloomberg Barclays 1-3 Mo | COM | 78468R663 |  | 21524319 | 234649 | SH |  | SOLE |  | 206749 | 0 | 27900 |
| SPDR Gold MiniShares Trust | COM | 98149E303 |  | 7097520 | 108326 | SH |  | SOLE |  | 80852 | 0 | 27474 |
| Sprott Physical Gold  Silver | COM | 85208R101 |  | 34688926 | 1152456 | SH |  | SOLE |  | 926301 | 0 | 226155 |
| Takeda Pharmaceutical Company | COM | 874060205 |  | 23017509 | 1488843 | SH |  | SOLE |  | 1217417 | 0 | 271426 |
| Technology Select Sector SPDR | COM | 81369Y803 |  | 368200 | 1454 | SH |  | SOLE |  | 1454 | 0 | 0 |
| Tetra Tech Inc | COM | 88162G103 |  | 30766145 | 855566 | SH |  | SOLE |  | 622956 | 0 | 232610 |
| The Mosaic Company | COM | 61945C103 |  | 23873487 | 654427 | SH |  | SOLE |  | 465654 | 0 | 188773 |
| Unilever PLC - Sponsored ADR | COM | 904767704 |  | 16255585 | 265744 | SH |  | SOLE |  | 239377 | 0 | 26367 |
| Visa Inc. CL A | COM | 92826C839 |  | 16262130 | 45802 | SH |  | SOLE |  | 34080 | 0 | 11722 |
| Walmart Inc. | COM | 931142103 |  | 25045246 | 256139 | SH |  | SOLE |  | 192100 | 0 | 64039 |

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