# EDGAR Filing Document

**Accession Number:** 0001359057
**File Stem:** 0001145549-25-049649
**Filing Date:** 2025-7
**Character Count:** 8073
**Document Hash:** b09491552cec98ce41207bfd95ed10ce
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-049649.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001145549-25-049649

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Manager Directed Portfolios
- **CENTRAL INDEX KEY:** 0001359057

**ORGANIZATION NAME:**
- **EIN:** 571138125
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21897
- **FILM NUMBER:** 251160097

**BUSINESS ADDRESS:**
- **STREET 1:** C/O U.S. BANCORP FUND SERVICES, LLC
- **STREET 2:** 615 E. MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 9522306140

**MAIL ADDRESS:**
- **STREET 1:** C/O U.S. BANCORP FUND SERVICES, LLC
- **STREET 2:** 615 E. MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Roxbury Funds
- **DATE OF NAME CHANGE:** 20060411

## Series and Classes Contracts Data

### SanJac Alpha Core Plus Bond ETF (Series ID: S000085377)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000250380 | SanJac Alpha Core Plus Bond ETF | SJCP            |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Manager Directed Portfolios

- **b. Investment Company Act file number:** 811-21897

- **c. CIK number of Registrant:** 0001359057

- **d. LEI of Registrant:** 549300WAC9XE08QLVP90

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 615 E. Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 4145163123

**Item A.2. Information about the Series.**

- **a. Name of Series:** SanJac Alpha Core Plus Bond ETF

- **b. EDGAR series identifier (if any):** S000085377

- **c. LEI of Series:** 52990007T3G368VP1091

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

- **a. Date of fiscal year-end:** 2025-05-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $1254362.76

**Total Liabilities:** $690.07

**Net Assets:** $1253672.69

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000250380 | 0.16%                | 0.32%                | 0.31%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11.98                   | $-622.21                                   |
| Month 2  | $-1836.00                | $3595.10                                   |
| Month 3  | $329.78                  | $-8763.59                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| US TREASURY N/B                        | United States Treasury Note/Bond       | CUSIP: 912828ZV5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    170000 | PA      | $158551.15    | 12.65%            | 2027-06-30      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond       | CUSIP: 91282CMY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $249266.26    | 19.88%            | 2027-04-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Dynex Capital Inc                      | Dynex Capital Inc                      | CUSIP: 26817Q886<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EC               | CORP              | US        |      2000 | NS      | $24080.00     | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bank Money Market Deposit Account | U.S. Bank Money Market Deposit Account | CUSIP: 8AMMF0A92<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     47619 | NS      | $47619.16     | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA FINANCIAL INC                      | MFA Financial Inc                      | CUSIP: 55272X706<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |      4000 | NS      | $98840.00     | 7.88%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA FINANCIAL INC                      | MFA Financial Inc                      | CUSIP: 55272X805<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |      6000 | NS      | $150300.00    | 11.99%            |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond       | CUSIP: 912828YQ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200000 | PA      | $193524.22    | 15.44%            | 2026-10-31      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| CHIMERA INVESTMENT CORP                | Chimera Investment Corp                | CUSIP: 16934Q885<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |      4000 | NS      | $99660.00     | 7.95%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNYMAC MTGE INVESTMENT               | PennyMac Mortgage Investment Trust     | CUSIP: 70931T301<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |      2000 | NS      | $49620.00     | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP                     | Rithm Capital Corp                     | CUSIP: 64828T409<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |      1400 | NS      | $35112.00     | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP                     | Rithm Capital Corp                     | CUSIP: 64828T706<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |      1000 | NS      | $23870.00     | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                        | United States Treasury Note/Bond       | CUSIP: 91282CLG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    120000 | PA      | $119639.72    | 9.54%             | 2027-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** Manager Directed Portfolios

**Signature:** /s/ Ryan Frank

**Name of Signer:** Ryan Frank

**Title:** President