# EDGAR Filing Document

**Accession Number:** 0001359057
**File Stem:** 0000894189-26-006272
**Filing Date:** 2026-2
**Character Count:** 31158
**Document Hash:** 9d9177827559de0a08c7b271551812f3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-006272.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000894189-26-006272

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260630

**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:** 26686426

**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

### Hood River Emerging Markets Fund (Series ID: S000097192)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000266368 | Retirement    | HRERX           |
| C000266369 | Investor      | HREIX           |
| C000266370 | Institutional | HREOX           |

## 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:** Hood River Emerging Markets Fund

- **b. EDGAR series identifier (if any):** S000097192

- **c. LEI of Series:** 529900H21AGFRVVDO005

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $1341901.50

**Total Liabilities:** $38268.66

**Net Assets:** $1303632.84

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000266368 | 0.00%                | 1.00%                | 5.03%                |
| Class ID C000266369 | 0.00%                | 1.00%                | 4.89%                |
| Class ID C000266370 | 0.00%                | 1.00%                | 4.92%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $52.46                   | $10101.75                                  |
| Month 3  | $-1099.74                | $55982.14                                  |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Hyosung Heavy Industries Corp  | Hyosung Heavy Industries Corp                                      | CUSIP: N/A<br>LEI: 988400IDLF9EQ95M0928       | Long             | EC               | CORP              | KR        |         8 | NS      | $9882.74      | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co Ltd  | ASE Technology Holding Co Ltd                                      | CUSIP: N/A<br>LEI: 300300GO8QHPMV87NZ73       | Long             | EC               | CORP              | TW        |      3000 | NS      | $23654.77     | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd                          | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       433 | NS      | $131584.37    | 10.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                        | Vale SA                                                            | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |      1300 | NS      | $16939.00     | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Minth Group Ltd                | Minth Group Ltd                                                    | CUSIP: N/A<br>LEI: 254900B2AH0G13K9G204       | Long             | EC               | CORP              | TW        |      3000 | NS      | $12290.90     | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| LXJM                           | Luxshare Precision Industry Co Ltd                                 | CUSIP: N/A<br>LEI: 300300QLLDUELXN16530       | Long             | EC               | CORP              | CN        |      2600 | NS      | $21146.96     | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Xiaomi Corp                    | Xiaomi Corp                                                        | CUSIP: N/A<br>LEI: 2549001ACVFAZRNMKL32       | Long             | EC               | CORP              | CN        |       850 | NS      | $4289.81      | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| TFC                            | Suzhou TFC Optical Communication Co Ltd                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |       400 | NS      | $11550.05     | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd                 | ICICI Bank Ltd                                                     | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |       480 | NS      | $14304.00     | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaspi.KZ JSC                   | Kaspi.KZ JSC                                                       | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |        65 | NS      | $5078.45      | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Jiangxi Copper Co Ltd          | Jiangxi Copper Co Ltd                                              | CUSIP: N/A<br>LEI: 3003002E74YFQ6MEZY56       | Long             | EC               | CORP              | CN        |      1900 | NS      | $10501.86     | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Zhongji Innolight Co Ltd       | Zhongji Innolight Co Ltd                                           | CUSIP: N/A<br>LEI: 655600K7YZDKAI214O83       | Long             | EC               | CORP              | CN        |       400 | NS      | $34754.71     | 2.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Theon International PLC        | Theon International PLC                                            | CUSIP: N/A<br>LEI: 2138002Y6CEIWHLN8775       | Long             | EC               | CORP              | CY        |       340 | NS      | $10649.24     | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| UBTech Robotics Corp Ltd       | UBTech Robotics Corp Ltd                                           | CUSIP: N/A<br>LEI: 836800LIVMBW69Z2WT05       | Long             | EC               | CORP              | CN        |       700 | NS      | $11406.51     | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| SANHUA                         | Zhejiang Sanhua Intelligent Controls Co Ltd                        | CUSIP: N/A<br>LEI: 8368003UTQ4F88XERZ23       | Long             | EC               | CORP              | CN        |      2500 | NS      | $12347.86     | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Doosan Enerbility Co Ltd       | Doosan Enerbility Co Ltd                                           | CUSIP: N/A<br>LEI: 988400TK5NA3GLSTN506       | Long             | EC               | CORP              | KR        |       290 | NS      | $15168.19     | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| China Construction Bank Corp   | China Construction Bank Corp                                       | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | CN        |     11450 | NS      | $11333.34     | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| China Youran Dairy Group Ltd   | China Youran Dairy Group Ltd                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |     14000 | NS      | $9152.77      | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Dajin Heavy Industry Co Ltd    | Dajin Heavy Industry Co Ltd                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |      1900 | NS      | $14107.54     | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Amer Sports Inc                | Amer Sports Inc                                                    | CUSIP: N/A<br>LEI: 391200YCSWTRD1J21867       | Long             | EC               | CORP              | FI        |       135 | NS      | $5042.25      | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd                  | Credicorp Ltd                                                      | CUSIP: N/A<br>LEI: 529900UYAEYQCQ2BKB17       | Long             | EC               | CORP              | PE        |        30 | NS      | $8610.00      | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Embraer SA                     | Embraer SA                                                         | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |       160 | NS      | $10299.20     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstRand Ltd                  | FirstRand Ltd                                                      | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               | CORP              | ZA        |      1200 | NS      | $6575.99      | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Trip.com Group Ltd             | Trip.com Group Ltd                                                 | CUSIP: N/A<br>LEI: 2549004RMYDSRQL4KW41       | Long             | EC               | CORP              | SG        |        70 | NS      | $5019.10      | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| JSHL                           | Jiangsu Hengli Hydraulic Co Ltd                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |       800 | NS      | $12572.51     | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenzhen UUGreenPower Co Ltd   | Shenzhen UUGreenPower Co Ltd                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |       600 | NS      | $15222.91     | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands | NU Holdings Ltd/Cayman Islands                                     | CUSIP: N/A<br>LEI: 5493002DG1RHWK9W2X27       | Long             | EC               | CORP              | BR        |       930 | NS      | $15568.20     | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund                           | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |     41601 | NS      | $41600.83     | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| King Yuan Electronics Co Ltd   | King Yuan Electronics Co Ltd                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |      1811 | NS      | $14255.97     | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| LS Electric Co Ltd             | LS Electric Co Ltd                                                 | CUSIP: N/A<br>LEI: 988400AF8KS117D7D072       | Long             | EC               | CORP              | KR        |        32 | NS      | $10251.54     | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| SK hynix Inc                   | SK hynix Inc                                                       | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |        94 | NS      | $42570.55     | 3.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered PLC         | Standard Chartered PLC                                             | CUSIP: N/A<br>LEI: U4LOSYZ7YG4W3S5F2G91       | Long             | EC               | CORP              | GB        |       950 | NS      | $23007.60     | 1.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Zijin Mining Group Co Ltd      | Zijin Mining Group Co Ltd                                          | CUSIP: N/A<br>LEI: 836800JRNL2393Z2I561       | Long             | EC               | CORP              | CN        |      3000 | NS      | $13735.31     | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Vince Holding Corp             | Vince Holding Corp                                                 | CUSIP: 92719W207<br>LEI: 5493002NOQOX2DHRRF35 | Long             | EC               | CORP              | US        |      1600 | NS      | $6528.00      | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| PING AN                        | Ping An Insurance Group Co of China Ltd                            | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               | CORP              | CN        |      2100 | NS      | $17639.38     | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| CMOC Group Ltd                 | CMOC Group Ltd                                                     | CUSIP: N/A<br>LEI: 2549008KG3638J59U652       | Long             | EC               | CORP              | CN        |      5500 | NS      | $13664.87     | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Hyundai Electric Co Ltd     | HD Hyundai Electric Co Ltd                                         | CUSIP: N/A<br>LEI: 988400CSDKM9UHLHGB91       | Long             | EC               | CORP              | KR        |        20 | NS      | $10740.97     | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Sieyuan Electric Co Ltd        | Sieyuan Electric Co Ltd                                            | CUSIP: N/A<br>LEI: 836800H6UQQUWN4PSZ32       | Long             | EC               | CORP              | CN        |       900 | NS      | $19895.53     | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| TINCI                          | Guangzhou Tinci Materials Technology Co Ltd                        | CUSIP: N/A<br>LEI: 836800Y28XV3QK34CB65       | Long             | EC               | CORP              | CN        |      1600 | NS      | $10612.78     | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Suzhou Maxwell Technologies Co | Suzhou Maxwell Technologies Co Ltd                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |       500 | NS      | $14714.20     | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd           | Tencent Holdings Ltd                                               | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | CN        |       845 | NS      | $64848.29     | 4.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Zhejiang Zhongxin Environmenta | Zhejiang Zhongxin Environmental Protection Technology Group Co Ltd | CUSIP: N/A<br>LEI: 655600NR84C9W9PZE128       | Long             | EC               | CORP              | CN        |      1100 | NS      | $12478.43     | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| YINGLIU                        | Anhui Yingliu Electromechanical Co Ltd                             | CUSIP: N/A<br>LEI: 300300D1M9RNSPEHDR92       | Long             | EC               | CORP              | CN        |      3200 | NS      | $19071.80     | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| CATL                           | Contemporary Amperex Technology Co Ltd                             | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032       | Long             | EC               | CORP              | CN        |       250 | NS      | $16259.87     | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Jiangsu Co Ltd         | Bank of Jiangsu Co Ltd                                             | CUSIP: N/A<br>LEI: 300300C1086832000046       | Long             | EC               | CORP              | CN        |      8300 | NS      | $12352.34     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Establishment Labs Holdings In | Establishment Labs Holdings Inc                                    | CUSIP: N/A<br>LEI: 549300BCBQ714JNJ7V58       | Long             | EC               | CORP              | CR        |       143 | NS      | $10421.84     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Cibest SA                | Grupo Cibest SA                                                    | CUSIP: 40090E106<br>LEI: 529900OSSJBGZREZ2C28 | Long             | EC               | CORP              | CO        |       165 | NS      | $10495.65     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA TAIPING                  | China Taiping Insurance Holdings Co Ltd                            | CUSIP: N/A<br>LEI: 529900C2G37NOIADYW07       | Long             | EC               | CORP              | HK        |      6800 | NS      | $16374.80     | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Fubon Financial Holding Co Ltd | Fubon Financial Holding Co Ltd                                     | CUSIP: N/A<br>LEI: 549300G7Y2TS2XNIB476       | Long             | EC               | CORP              | TW        |      4000 | NS      | $12242.59     | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Nanjing Co Ltd         | Bank of Nanjing Co Ltd                                             | CUSIP: N/A<br>LEI: 300300C1086932000062       | Long             | EC               | CORP              | CN        |      7600 | NS      | $12430.76     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp              | Bloom Energy Corp                                                  | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |       130 | NS      | $11295.70     | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                  | HDFC Bank Ltd                                                      | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |       395 | NS      | $14433.30     | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhejiang Taotao Vehicles Co Lt | Zhejiang Taotao Vehicles Co Ltd                                    | CUSIP: N/A<br>LEI: 83680067S33I2RRA0395       | Long             | EC               | CORP              | CN        |       300 | NS      | $10780.04     | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| ATRenew Inc                    | ATRenew Inc                                                        | CUSIP: 00138L108<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      2190 | NS      | $11607.00     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd                                          | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |       253 | NS      | $37084.74     | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanwha Systems Co Ltd          | Hanwha Systems Co Ltd                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       240 | NS      | $9064.68      | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Cury Construtora e Incorporado | Cury Construtora e Incorporadora SA                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |      2300 | NS      | $13529.13     | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Baidu Inc                      | Baidu Inc                                                          | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | CN        |        45 | NS      | $5879.70      | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings PLC              | HSBC Holdings PLC                                                  | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |      1450 | NS      | $22729.89     | 1.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Hanwha Ocean Co Ltd            | Hanwha Ocean Co Ltd                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       102 | NS      | $8053.96      | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| ICBC                           | Industrial & Commercial Bank of China Ltd                          | CUSIP: N/A<br>LEI: 5493002ERZU2K9PZDL40       | Long             | EC               | CORP              | CN        |     19800 | NS      | $16022.28     | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Eoptolink Technology Inc Ltd   | Eoptolink Technology Inc Ltd                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |       300 | NS      | $18381.41     | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| SHANDONG SHIDA SHENGHUA        | Shida Shinghwa Advanced Material Group Co Ltd                      | CUSIP: N/A<br>LEI: 300300BGRZ28Y1HPSP41       | Long             | EC               | CORP              | CN        |       900 | NS      | $9631.04      | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Insilico Medicine Cayman TopCo | Insilico Medicine Cayman TopCo                                     | CUSIP: N/A<br>LEI: 254900MQK3C1TR58H275       | Long             | EC               | CORP              | HK        |      4000 | NS      | $19088.49     | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Lens Technology Co Ltd         | Lens Technology Co Ltd                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |      7300 | NS      | $23628.98     | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Jumia Technologies AG          | Jumia Technologies AG                                              | CUSIP: 48138M105<br>LEI: 391200JWCL5VCOSXNT56 | Long             | EC               | CORP              | DE        |       402 | NS      | $5020.98      | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Atour Lifestyle Holdings Ltd   | Atour Lifestyle Holdings Ltd                                       | CUSIP: 04965M106<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |       125 | NS      | $4925.00      | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Financial Group Inc         | KB Financial Group Inc                                             | CUSIP: 48241A105<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |       119 | NS      | $10238.76     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Engineering & Construc | Hyundai Engineering & Construction Co Ltd                          | CUSIP: N/A<br>LEI: 988400CEQG9N710HN313       | Long             | EC               | CORP              | KR        |       266 | NS      | $12963.17     | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Lite-On Technology Corp        | Lite-On Technology Corp                                            | CUSIP: N/A<br>LEI: 2549005GU1PQ73SZBT32       | Long             | EC               | CORP              | TW        |      3600 | NS      | $18728.35     | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd     | Samsung Electronics Co Ltd                                         | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |       650 | NS      | $54479.68     | 4.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Xi'an Bright Laser Technologie | Xi'an Bright Laser Technologies Co Ltd                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |       600 | NS      | $9572.07      | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Biwin Storage Technology Co Lt | Biwin Storage Technology Co Ltd                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |       800 | NS      | $13116.00     | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SharkNinja Inc                 | SharkNinja Inc                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        55 | NS      | $6154.50      | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Electronics Inc          | Delta Electronics Inc                                              | CUSIP: N/A<br>LEI: 529900UVZWNWGDLJSM52       | Long             | EC               | CORP              | TW        |       600 | NS      | $18302.38     | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Cathay Financial Holding Co Lt | Cathay Financial Holding Co Ltd                                    | CUSIP: N/A<br>LEI: 5299009XR1QLFAMQ3X77       | Long             | EC               | CORP              | TW        |      4000 | NS      | $9648.74      | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co Ltd | Shinhan Financial Group Co Ltd                                     | CUSIP: 824596100<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               | CORP              | KR        |       100 | NS      | $5363.00      | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Essence Fastening Systems Shan | Essence Fastening Systems Shanghai Co Ltd                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |       700 | NS      | $15528.63     | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-23

**Name of Applicant:** Manager Directed Portfolios

**Signature:** /s/ Ryan Frank

**Name of Signer:** Ryan Frank

**Title:** President