# EDGAR Filing Document

**Accession Number:** 0001511699
**File Stem:** 0000894189-26-004499
**Filing Date:** 2026-2
**Character Count:** 54869
**Document Hash:** bd8e8c3a2006256aa86653d0b4edb750
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-004499.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0000894189-26-004499

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Managed Portfolio Series
- **CENTRAL INDEX KEY:** 0001511699

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22525
- **FILM NUMBER:** 26671392

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-287-3700

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Leuthold Grizzly Short Fund (Series ID: S000083371)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000246973 | Leuthold Grizzly Short Fund | GRZZX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Leuthold Grizzly Short Fund** | **Leuthold Grizzly Short Fund** | **Leuthold Grizzly Short Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **U.S. TREASURY BILLS - 18.2%** | **Par** | **Value**  |
| 3.75%, 01/29/2026 <sup>(a)</sup> | 6000000 | $5982687 |
| **TOTAL U.S. TREASURY BILLS** (Cost $5,982,687) | **TOTAL U.S. TREASURY BILLS** (Cost $5,982,687) | 5982687 |
| **TOTAL INVESTMENTS - 18.2% (**Cost $5,982,687**)** <sup>(b)</sup> | **TOTAL INVESTMENTS - 18.2% (**Cost $5,982,687**)** <sup>(b)</sup> | 5982687 |
| Money Market Deposit Account - 79.3% <sup>(b)(c)</sup> | Money Market Deposit Account - 79.3% <sup>(b)(c)</sup> | 26045539 |
| Other Assets in Excess of Liabilities - 2.5% | Other Assets in Excess of Liabilities - 2.5% | 805826 |
| **TOTAL NET ASSETS - 100.0%** |  | $32834052 |
| Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. |  |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

(a) The rate shown is the annualized yield as of December 31, 2025.

(b) All or a portion of security has been pledged as collateral for securities sold short. The fair value of assets committed as collateral as of December 31, 2025 is $32,028,226

(c) The U.S. Bank Money Market Deposit Account (the "MMDA") is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and
 is subject to change daily. The rate as of December 31, 2025 was 3.45%.

---

| | | |
|:---|:---|:---|
| **Leuthold Grizzly Short Fund** | **Leuthold Grizzly Short Fund** | **Leuthold Grizzly Short Fund** |
| **Schedule of Securities Sold Short** | **Schedule of Securities Sold Short** | **Schedule of Securities Sold Short** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS** - **(70.0)%** | **Shares** | **Value** |
| **Aerospace & Defense - (3.4)%** | **Aerospace & Defense - (3.4)%** | |
| Boeing Co. | (1098) | $(238398) |
| Hexcel Corp. | (2712) | (200417) |
| Loar Holdings, Inc. | (2124) | (144432) |
| StandardAero, Inc. | (6022) | (172711) |
| TransDigm Group, Inc. | (269) | (357729) |
|  |  | (1113687) |
| **Banks - (2.2)%** | **Banks - (2.2)%** |  |
| Atlantic Union Bankshares Corp. | (5192) | (183278) |
| Glacier Bancorp, Inc. | (3344) | (147303) |
| Live Oak Bancshares, Inc. | (4380) | (150453) |
| Triumph Financial, Inc. | (4081) | (255593) |
|  |  | (736627) |
| **Beverages - (1.3)%** | **Beverages - (1.3)%** |  |
| PepsiCo, Inc. | (2137) | (306702) |
| Primo Brands Corp. | (6506) | (106373) |
|  |  | (413075) |
| **Building Products - (1.2)%** | **Building Products - (1.2)%** |  |
| AAON, Inc. | (2760) | (210450) |
| CSW Industrials, Inc. | (641) | (188153) |
|  |  | (398603) |
| **Capital Markets - (9.2)%** | **Capital Markets - (9.2)%** |  |
| Ares Management Corp. - Class A | (1722) | (278327) |
| Blackstone, Inc. | (2509) | (386737) |
| Blue Owl Capital, Inc. - Class A | (8811) | (131636) |
| Cohen & Steers, Inc. | (2494) | (156573) |
| FactSet Research Systems, Inc. | (428) | (124201) |
| Hamilton Lane, Inc. - Class A - Class A | (1127) | (151368) |
| KKR & Co., Inc. | (2836) | (361533) |
| MarketAxess Holdings, Inc. | (1009) | (182881) |
| Moelis & Co. - Class A - Class A | (2503) | (172056) |
| Moody's Corp. | (714) | (364747) |
| MSCI, Inc. | (739) | (423987) |
| Perella Weinberg Partners | (7599) | (131463) |
| StepStone Group, Inc. - Class A | (2550) | (163634) |
|  |  | (3029143) |
| **Chemicals - (5.2)%** | **Chemicals - (5.2)%** |  |
| Air Products and Chemicals, Inc. | (1100) | (271722) |
| Albemarle Corp. | (3224) | (456002) |
| Chemours Co. | (9490) | (111887) |
| International Flavors & Fragrances, Inc. | (4043) | (272458) |
| Sherwin-Williams Co. | (888) | (287739) |
| Stepan Co. | (2052) | (97183) |
| Westlake Corp. | (2949) | (218049) |
|  |  | (1715040) |
| **Commercial Services & Supplies - (2.3)%** | **Commercial Services & Supplies - (2.3)%** |  |
| Casella Waste Systems, Inc. - Class A | (1478) | (144755) |
| Cintas Corp. | (1511) | (284174) |
| RB Global, Inc. | (3206) | (329801) |
|  |  | (758730) |
| **Construction Materials - (0.4)%** | **Construction Materials - (0.4)%** |  |
| Knife River Corp. | (2059) | (144851) |
| **Containers & Packaging - (1.3)%** | **Containers & Packaging - (1.3)%** |  |
| Smurfit WestRock PLC | (6404) | (247643) |
| Sonoco Products Co. | (3783) | (165090) |
|  |  | (412733) |
| **Energy Equipment & Services - (0.5)%** | **Energy Equipment & Services - (0.5)%** |  |
| Select Water Solutions, Inc. | (14474) | (152266) |
| **Financial Services - (2.3)%** | **Financial Services - (2.3)%** |  |
| Fidelity National Information Services, Inc. | (4549) | (302327) |
| Toast, Inc. - Class A | (10016) | (355668) |
| Walker & Dunlop, Inc. | (1693) | (101834) |
|  |  | (759829) |
| **Food Products - (0.6)%** | **Food Products - (0.6)%** |  |
| Tyson Foods, Inc. - Class A | (3251) | (190574) |
| **Ground Transportation - (3.9)%** | **Ground Transportation - (3.9)%** |  |
| Knight-Swift Transportation Holdings, Inc. | (3359) | (175608) |
| Marten Transport Ltd. | (10440) | (118807) |
| Old Dominion Freight Line, Inc. | (1784) | (279731) |
| Saia, Inc. | (380) | (124078) |
| Werner Enterprises, Inc. | (7062) | (211931) |
| XPO, Inc. | (2798) | (380276) |
|  |  | (1290431) |
| **Health Care Equipment & Supplies - (1.4)%** | **Health Care Equipment & Supplies - (1.4)%** |  |
| Baxter International, Inc. | (5008) | (95703) |
| Intuitive Surgical, Inc. | (632) | (357939) |
|  |  | (453642) |
| **Hotels, Restaurants & Leisure - (8.5)%** | **Hotels, Restaurants & Leisure - (8.5)%** |  |
| Aramark | (4497) | (165759) |
| Caesars Entertainment, Inc. | (5196) | (121534) |
| Chipotle Mexican Grill, Inc. | (7111) | (263107) |
| DoorDash, Inc. - Class A | (1449) | (328170) |
| First Watch Restaurant Group, Inc. | (8960) | (135117) |
| Global Business Travel Group I | (20744) | (158692) |
| Marriott International, Inc./MD - Class A | (1218) | (377872) |
| Restaurant Brands International, Inc. | (5206) | (355205) |
| Shake Shack, Inc. - Class A - Class A | (1786) | (144970) |
| Starbucks Corp. | (3521) | (296503) |
| Texas Roadhouse, Inc. | (2048) | (339968) |
| Vail Resorts, Inc. | (816) | (108365) |
|  |  | (2795262) |
| **Household Products - (0.8)%** | **Household Products - (0.8)%** |  |
| Clorox Co. | (2747) | (276980) |
| **Insurance - (5.0)%** | **Insurance - (5.0)%** |  |
| Aon PLC - Class A | (874) | (308417) |
| Arthur J. Gallagher & Co. | (1096) | (283634) |
| Brown & Brown, Inc. | (3508) | (279588) |
| Erie Indemnity Co. - Class A - Class A | (859) | (246232) |
| Marsh & McLennan Cos., Inc. | (1820) | (337646) |
| Ryan Specialty Holdings, Inc. | (3366) | (173787) |
|  |  | (1629304) |
| **Life Sciences Tools & Services - (2.7)%** | **Life Sciences Tools & Services - (2.7)%** |  |
| Bio-Techne Corp. | (2168) | (127500) |
| Bruker Corp. | (2882) | (135771) |
| Danaher Corp. | (1739) | (398092) |
| Repligen Corp. | (1269) | (207938) |
|  |  | (869301) |
| **Machinery - (3.7)%** | **Machinery - (3.7)%** |  |
| Hillman Solutions Corp. | (17229) | (149203) |
| IDEX Corp. | (1606) | (285772) |
| Ingersoll Rand, Inc. | (4087) | (323772) |
| Standex International Corp. | (872) | (189468) |
| Stanley Black & Decker, Inc. | (3637) | (270156) |
|  |  | (1218371) |
| **Multi-Utilities - (1.0)%** | **Multi-Utilities - (1.0)%** |  |
| Sempra | (3659) | (323053) |
| **Oil, Gas & Consumable Fuels - (1.2)%** | **Oil, Gas & Consumable Fuels - (1.2)%** |  |
| Targa Resources Corp. | (2044) | (377118) |
| **Professional Services - (1.8)%** | **Professional Services - (1.8)%** |  |
| CBIZ, Inc. | (2478) | (125015) |
| Dayforce, Inc. | (2840) | (196415) |
| Paychex, Inc. | (2501) | (280562) |
|  |  | (601992) |
| **Semiconductors & Semiconductor Equipment - (0.8)%** | **Semiconductors & Semiconductor Equipment - (0.8)%** |  |
| ARM Holdings PLC - ADR | (2523) | (275789) |
| **Software - (4.9)%** | **Software - (4.9)%** |  |
| Braze, Inc. - Class A | (5285) | (181223) |
| Cellebrite DI Ltd. | (9576) | (172655) |
| Crowdstrike Holdings, Inc. - Class A | (675) | (316413) |
| Datadog, Inc. - Class A | (2097) | (285171) |
| Klaviyo, Inc. - Class A | (5130) | (166571) |
| Palo Alto Networks, Inc. | (1675) | (308535) |
| Samsara, Inc. - Class A | (4817) | (170763) |
|  |  | (1601331) |
| **Specialty Retail - (1.2)%** | **Specialty Retail - (1.2)%** |  |
| Carvana Co. | (723) | (305121) |
| Floor & Decor Holdings, Inc. - Class A | (1507) | (91761) |
|  |  | (396882) |
| **Textiles, Apparel & Luxury Goods - (2.4)%** | **Textiles, Apparel & Luxury Goods - (2.4)%** |  |
| NIKE, Inc. - Class B | (4373) | (278604) |
| On Holding AG - Class A | (7349) | (341581) |
| VF Corp. | (8582) | (155163) |
|  |  | (775348) |
| **Trading Companies & Distributors - (0.8)%** | **Trading Companies & Distributors - (0.8)%** |  |
| Watsco, Inc. | (796) | (268212) |
| **TOTAL COMMON STOCKS** (Proceeds $24,907,084) | **TOTAL COMMON STOCKS** (Proceeds $24,907,084) | (22978174) |
| **EXCHANGE TRADED FUNDS - (23.9)%** | **Shares** | **Value** |
| Invesco Nasdaq 100 ETF | (9292) | (2350133) |
| iShares Expanded Tech-Software Sector ETF | (7784) | (822691) |
| iShares Russell 2000 ETF | (2050) | (504628) |
| iShares S&P 500 Growth ETF | (19098) | (2354019) |
| State Street Real Estate Select Sector SPDR ETF | (10830) | (436990) |
| State Street SPDR Portfolio S&P 500 ETF | (9612) | (771075) |
| VanEck Semiconductor ETF | (1737) | (625546) |
| **TOTAL EXCHANGE TRADED FUNDS** (Proceeds $7,618,776) | **TOTAL EXCHANGE TRADED FUNDS** (Proceeds $7,618,776) | (7865082) |
| **REAL ESTATE INVESTMENT TRUSTS - COMMON** - **(0.9)%** | **Shares** | **Value** |
| **Specialized REITs - (0.9)%** | **Specialized REITs - (0.9)%** |  |
| Iron Mountain, Inc. | (3524) | (292316) |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Proceeds $343,877) | **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Proceeds $343,877) | (292316) |
| **TOTAL SECURITIES SOLD SHORT - (94.8)%** (Proceeds $32,869,737) |  | $(31135572) |
| Percentages are stated as a percent of net assets. |  |  |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |
| ADR - American Depositary Receipt | ADR - American Depositary Receipt | ADR - American Depositary Receipt |
| PLC - Public Limited Company | PLC - Public Limited Company | PLC - Public Limited Company |

---

------

#### Summary of Fair Value Disclosure as of December 31, 2025 (Unaudited)
Leuthold Grizzly Short Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bills | $– | $5982687 | $– | $5982687 |
| Total Investments | $– | $5982687 | $– | $5982687 |
| **Liabilities:** |  |  |  |  |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $(22978174) | $– | $– | $(22978174) |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | (7865082) | – | – | (7865082) |
| &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts - Common | (292316) | – | – | (292316) |
| Total Investments | $(31135572) | $– | $– | $(31135572) |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Managed Portfolio Series

- **b. Investment Company Act file number:** 811-22525

- **c. CIK number of Registrant:** 0001511699

- **d. LEI of Registrant:** 254900SQ3GG01NP4WM65

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-516-1712

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

- **a. Name of Series:** Leuthold Grizzly Short Fund

- **b. EDGAR series identifier (if any):** S000083371

- **c. LEI of Series:** 52990052EUR0V5CQKM02

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

- **a. Date of fiscal year-end:** 2026-09-30

- **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:** $64150741.67

**Total Liabilities:** $31248856.99

**Net Assets:** $32901884.68

**Cash Not Reported:** $31927447.89

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000246973 | 1.57%                | -1.30%               | 0.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-28770.48               | $406603.24                                 |
| Month 2  | $192028.70               | $-758085.95                                |
| Month 3  | $-40492.81               | $29463.49                                  |

**Designated Index Information**

- **Index Name:** S&P 500 Total Return Index

- **Index Identifier:** SPTR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| 478160104                      | PepsiCo Inc                                     | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Short            | EC               | CORP              | US        |     -2137 | NS      | $-306702.24   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Perella Weinberg Partners      | Perella Weinberg Partners                       | CUSIP: 71367G102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -7599 | NS      | $-131462.70   | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp              | Primo Brands Corp                               | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Short            | EC               | CORP              | US        |     -6506 | NS      | $-106373.10   | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| RB Global Inc                  | RB Global Inc                                   | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Short            | EC               | CORP              | US        |     -3206 | NS      | $-329801.22   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corp                  | Repligen Corp                                   | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Short            | EC               | CORP              | US        |     -1269 | NS      | $-207938.34   | -0.63%            |  |  |  | No            |                  1 | On Loan: No      |
| Restaurant Brands Internationa | Restaurant Brands International Inc             | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Short            | EC               | CORP              | US        |     -5206 | NS      | $-355205.38   | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc    | Ryan Specialty Holdings Inc                     | CUSIP: 78351F107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3366 | NS      | $-173786.58   | -0.53%            |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                       | Saia Inc                                        | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Short            | EC               | CORP              | US        |      -380 | NS      | $-124077.60   | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| Samsara Inc                    | Samsara Inc                                     | CUSIP: 79589L106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4817 | NS      | $-170762.65   | -0.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions Inc     | Select Water Solutions Inc                      | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Short            | EC               | CORP              | US        |    -14474 | NS      | $-152266.48   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                         | Sempra                                          | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Short            | EC               | CORP              | US        |     -3659 | NS      | $-323053.11   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| Shake Shack Inc                | Shake Shack Inc                                 | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Short            | EC               | CORP              | US        |     -1786 | NS      | $-144969.62   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The        | Sherwin-Williams Co/The                         | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Short            | EC               | CORP              | US        |      -888 | NS      | $-287738.64   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co             | Sonoco Products Co                              | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Short            | EC               | CORP              | US        |     -3783 | NS      | $-165090.12   | -0.50%            |  |  |  | No            |                  1 | On Loan: No      |
| StandardAero Inc               | StandardAero Inc                                | CUSIP: 85423L103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -6022 | NS      | $-172710.96   | -0.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Smurfit WestRock PLC           | Smurfit WestRock PLC                            | CUSIP: N/A<br>LEI: 635400EGSEOPDW2EXS14       | Short            | EC               | CORP              | IE        |     -6404 | NS      | $-247642.68   | -0.75%            |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc  | Old Dominion Freight Line Inc                   | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Short            | EC               | CORP              | US        |     -1784 | NS      | $-279731.20   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc         | Palo Alto Networks Inc                          | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Short            | EC               | CORP              | US        |     -1675 | NS      | $-308535.00   | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                    | Paychex Inc                                     | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Short            | EC               | CORP              | US        |     -2501 | NS      | $-280562.18   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                  | On Holding AG                                   | CUSIP: N/A<br>LEI: 506700FB3467B9W95526       | Short            | EC               | CORP              | CH        |     -7349 | NS      | $-341581.52   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Global Business Travel Group I | Global Business Travel Group I                  | CUSIP: 37890B100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -20744 | NS      | $-158691.60   | -0.48%            |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Lane Inc              | Hamilton Lane Inc                               | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Short            | EC               | CORP              | US        |     -1127 | NS      | $-151367.37   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                    | Hexcel Corp                                     | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Short            | EC               | CORP              | US        |     -2712 | NS      | $-200416.80   | -0.61%            |  |  |  | No            |                  1 | On Loan: No      |
| Hillman Solutions Corp         | Hillman Solutions Corp                          | CUSIP: 431636109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -17229 | NS      | $-149203.14   | -0.45%            |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR Portfolio S& | State Street SPDR Portfolio S&P 500 ETF         | CUSIP: 78464A854<br>LEI: 5493004K4F0RL72RIJ47 | Short            | EC               | RF                | US        |     -9612 | NS      | $-771074.64   | -2.34%            |  |  |  | No            |                  1 | On Loan: No      |
| State Street Real Estate Selec | State Street Real Estate Select Sector SPDR ETF | CUSIP: 81369Y860<br>LEI: 549300SPMSTD3BRHL041 | Short            | EC               | RF                | US        |    -10830 | NS      | $-436990.50   | -1.33%            |  |  |  | No            |                  1 | On Loan: No      |
| 68389X105                      | Starbucks Corp                                  | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Short            | EC               | CORP              | US        |     -3521 | NS      | $-296503.41   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Stepan Co                      | Stepan Co                                       | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Short            | EC               | CORP              | US        |     -2052 | NS      | $-97182.72    | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Nasdaq 100 ETF         | Invesco Nasdaq 100 ETF                          | CUSIP: 46138G649<br>LEI: 549300TKJ3EA6QHM7D23 | Short            | EC               | RF                | US        |     -9292 | NS      | $-2350132.64  | -7.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc              | Iron Mountain Inc                               | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Short            | EC               | CORP              | US        |     -3524 | NS      | $-292315.80   | -0.89%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares S&P 500 Growth ETF     | iShares S&P 500 Growth ETF                      | CUSIP: 464287309<br>LEI: 549300RYFG0B8O3DPR13 | Short            | EC               | RF                | US        |    -19098 | NS      | $-2354019.48  | -7.15%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Expanded Tech-Software | iShares Expanded Tech-Software Sector ETF       | CUSIP: 464287515<br>LEI: 54930072GM1ADLZJ5373 | Short            | EC               | RF                | US        |     -7784 | NS      | $-822690.96   | -2.50%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 2000 ETF       | iShares Russell 2000 ETF                        | CUSIP: 464287655<br>LEI: 549300O80OAR5VTWR172 | Short            | EC               | RF                | US        |     -2050 | NS      | $-504628.00   | -1.53%            |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc                   | KKR & Co Inc                                    | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Short            | EC               | CORP              | US        |     -2836 | NS      | $-361533.28   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Klaviyo Inc                    | Klaviyo Inc                                     | CUSIP: 49845K101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -5130 | NS      | $-166571.10   | -0.51%            |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp               | Knife River Corp                                | CUSIP: 498894104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -2059 | NS      | $-144850.65   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho | Knight-Swift Transportation Holdings Inc        | CUSIP: 499049104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3359 | NS      | $-175608.52   | -0.53%            |  |  |  | No            |                  1 | On Loan: No      |
| Live Oak Bancshares Inc        | Live Oak Bancshares Inc                         | CUSIP: 53803X105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4380 | NS      | $-150453.00   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings Inc              | Loar Holdings Inc                               | CUSIP: 53947R105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -2124 | NS      | $-144432.00   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                       | MSCI Inc                                        | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Short            | EC               | CORP              | US        |      -739 | NS      | $-423986.47   | -1.29%            |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc       | MarketAxess Holdings Inc                        | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Short            | EC               | CORP              | US        |     -1009 | NS      | $-182881.25   | -0.56%            |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc       | Marsh & McLennan Cos Inc                        | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Short            | EC               | CORP              | US        |     -1820 | NS      | $-337646.40   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc/MD  | Marriott International Inc/MD                   | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Short            | EC               | CORP              | US        |     -1218 | NS      | $-377872.32   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Marten Transport Ltd           | Marten Transport Ltd                            | CUSIP: 573075108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -10440 | NS      | $-118807.20   | -0.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co                    | Moelis & Co                                     | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Short            | EC               | CORP              | US        |     -2503 | NS      | $-172056.22   | -0.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                   | Moody's Corp                                    | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Short            | EC               | CORP              | US        |      -714 | NS      | $-364746.90   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                       | NIKE Inc                                        | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Short            | EC               | CORP              | US        |     -4373 | NS      | $-278603.83   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| AAON Inc                       | AAON Inc                                        | CUSIP: 000360206<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -2760 | NS      | $-210450.00   | -0.64%            |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals Inc | Air Products and Chemicals Inc                  | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Short            | EC               | CORP              | US        |     -1100 | NS      | $-271722.00   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp                 | Albemarle Corp                                  | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Short            | EC               | CORP              | US        |     -3224 | NS      | $-456002.56   | -1.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                        | Aramark                                         | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Short            | EC               | CORP              | US        |     -4497 | NS      | $-165759.42   | -0.50%            |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corp           | Ares Management Corp                            | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Short            | EC               | CORP              | US        |     -1722 | NS      | $-278326.86   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| ARM Holdings PLC               | ARM Holdings PLC                                | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Short            | EC               | CORP              | GB        |     -2523 | NS      | $-275789.13   | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp | Atlantic Union Bankshares Corp                  | CUSIP: 04911A107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -5192 | NS      | $-183277.60   | -0.56%            |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc       | Baxter International Inc                        | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Short            | EC               | CORP              | US        |     -5008 | NS      | $-95702.88    | -0.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                | Bio-Techne Corp                                 | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Short            | EC               | CORP              | US        |     -2168 | NS      | $-127500.08   | -0.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                 | Blackstone Inc                                  | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Short            | EC               | CORP              | US        |     -2509 | NS      | $-386737.26   | -1.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Blue Owl Capital Inc           | Blue Owl Capital Inc                            | CUSIP: 09581B103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -8811 | NS      | $-131636.34   | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                  | Boeing Co/The                                   | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Short            | EC               | CORP              | US        |     -1098 | NS      | $-238397.76   | -0.72%            |  |  |  | No            |                  1 | On Loan: No      |
| Braze Inc                      | Braze Inc                                       | CUSIP: 10576N102<br>LEI: 9845007B9EDBFD37C277 | Short            | EC               | CORP              | US        |     -5285 | NS      | $-181222.65   | -0.55%            |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc              | Brown & Brown Inc                               | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Short            | EC               | CORP              | US        |     -3508 | NS      | $-279587.60   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| 31846V567                      | Bruker Corp                                     | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Short            | EC               | CORP              | US        |     -2882 | NS      | $-135771.02   | -0.41%            |  |  |  | No            |                  1 | On Loan: No      |
| CBIZ Inc                       | CBIZ Inc                                        | CUSIP: 124805102<br>LEI: 529900D5X8CFM8O1N813 | Short            | EC               | CORP              | US        |     -2478 | NS      | $-125015.10   | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc      | Caesars Entertainment Inc                       | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Short            | EC               | CORP              | US        |     -5196 | NS      | $-121534.44   | -0.37%            |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                     | Carvana Co                                      | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Short            | EC               | CORP              | US        |      -723 | NS      | $-305120.46   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc      | Casella Waste Systems Inc                       | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Short            | EC               | CORP              | US        |     -1478 | NS      | $-144755.32   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| 91282CFE6                      | Arthur J Gallagher & Co                         | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Short            | EC               | CORP              | US        |     -1096 | NS      | $-283633.84   | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                        | Aon PLC                                         | CUSIP: N/A<br>LEI: 635400FALWQYX5E6QC64       | Short            | EC               | CORP              | GB        |      -874 | NS      | $-308417.12   | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Cellebrite DI Ltd              | Cellebrite DI Ltd                               | CUSIP: N/A<br>LEI: 254900G03462YGP1IO36       | Short            | EC               | CORP              | IL        |     -9576 | NS      | $-172655.28   | -0.52%            |  |  |  | No            |                  1 | On Loan: No      |
| IDEX Corp                      | IDEX Corp                                       | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Short            | EC               | CORP              | US        |     -1606 | NS      | $-285771.64   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc             | Ingersoll Rand Inc                              | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Short            | EC               | CORP              | US        |     -4087 | NS      | $-323772.14   | -0.98%            |  |  |  | No            |                  1 | On Loan: No      |
| IFF                            | International Flavors & Fragrances Inc          | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Short            | EC               | CORP              | US        |     -4043 | NS      | $-272457.77   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical Inc                          | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Short            | EC               | CORP              | US        |      -632 | NS      | $-357939.52   | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc            | CSW Industrials Inc                             | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Short            | EC               | CORP              | US        |      -641 | NS      | $-188152.73   | -0.57%            |  |  |  | No            |                  1 | On Loan: No      |
| Dayforce Inc                   | Dayforce Inc                                    | CUSIP: 15677J108<br>LEI: 549300T64GVCHFJ8L449 | Short            | EC               | CORP              | US        |     -2840 | NS      | $-196414.40   | -0.60%            |  |  |  | No            |                  1 | On Loan: No      |
| Chemours Co/The                | Chemours Co/The                                 | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Short            | EC               | CORP              | US        |     -9490 | NS      | $-111887.10   | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc     | Chipotle Mexican Grill Inc                      | CUSIP: 169656105<br>LEI: 529900REP5VGTPCP1J71 | Short            | EC               | CORP              | US        |     -7111 | NS      | $-263107.00   | -0.80%            |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                    | Cintas Corp                                     | CUSIP: 172908105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -1511 | NS      | $-284173.77   | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| Clorox Co/The                  | Clorox Co/The                                   | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Short            | EC               | CORP              | US        |     -2747 | NS      | $-276980.01   | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Cohen & Steers Inc             | Cohen & Steers Inc                              | CUSIP: 19247A100<br>LEI: 549300XXIA338A0X2K65 | Short            | EC               | CORP              | US        |     -2494 | NS      | $-156573.32   | -0.48%            |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc       | Crowdstrike Holdings Inc                        | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Short            | EC               | CORP              | US        |      -675 | NS      | $-316413.00   | -0.96%            |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                   | Danaher Corp                                    | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Short            | EC               | CORP              | US        |     -1739 | NS      | $-398091.88   | -1.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                    | Datadog Inc                                     | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Short            | EC               | CORP              | US        |     -2097 | NS      | $-285171.03   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                   | DoorDash Inc                                    | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Short            | EC               | CORP              | US        |     -1449 | NS      | $-328169.52   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Erie Indemnity Co              | Erie Indemnity Co                               | CUSIP: 29530P102<br>LEI: 549300WA5KP94KRUFZ80 | Short            | EC               | CORP              | US        |      -859 | NS      | $-246232.35   | -0.75%            |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc   | FactSet Research Systems Inc                    | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Short            | EC               | CORP              | US        |      -428 | NS      | $-124201.32   | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information  | Fidelity National Information Services Inc      | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Short            | EC               | CORP              | US        |     -4549 | NS      | $-302326.54   | -0.92%            |  |  |  | No            |                  1 | On Loan: No      |
| First Watch Restaurant Group I | First Watch Restaurant Group Inc                | CUSIP: 33748L101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -8960 | NS      | $-135116.80   | -0.41%            |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc     | Floor & Decor Holdings Inc                      | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Short            | EC               | CORP              | US        |     -1507 | NS      | $-91761.23    | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Glacier Bancorp Inc            | Glacier Bancorp Inc                             | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Short            | EC               | CORP              | US        |     -3344 | NS      | $-147303.20   | -0.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Standex International Corp     | Standex International Corp                      | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Short            | EC               | CORP              | US        |      -872 | NS      | $-189468.16   | -0.58%            |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc     | Stanley Black & Decker Inc                      | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Short            | EC               | CORP              | US        |     -3637 | NS      | $-270156.36   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| StepStone Group Inc            | StepStone Group Inc                             | CUSIP: 85914M107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -2550 | NS      | $-163633.50   | -0.50%            |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp           | Targa Resources Corp                            | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Short            | EC               | CORP              | US        |     -2044 | NS      | $-377118.00   | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc            | Texas Roadhouse Inc                             | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Short            | EC               | CORP              | US        |     -2048 | NS      | $-339968.00   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Toast Inc                      | Toast Inc                                       | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Short            | EC               | CORP              | US        |    -10016 | NS      | $-355668.16   | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group Inc            | TransDigm Group Inc                             | CUSIP: 893641100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -269 | NS      | $-357729.65   | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Triumph Financial Inc          | Triumph Financial Inc                           | CUSIP: 89679E300<br>LEI: 5493003RNRMEVYDZ1Q52 | Short            | EC               | CORP              | US        |     -4081 | NS      | $-255593.03   | -0.78%            |  |  |  | No            |                  1 | On Loan: No      |
| US BANK MMDA - USBGFS 9        | US BANK MMDA - USBGFS 9                         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |  26046980 | NS      | $26046980.17  | 79.17%            | 2037-09-01      | Variable      | 4.54%                 | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                | Tyson Foods Inc                                 | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Short            | EC               | CORP              | US        |     -3251 | NS      | $-190573.62   | -0.58%            |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                     | CUSIP: 912797RK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5982686.67   | 18.18%            | 2026-01-29      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VF Corp                        | VF Corp                                         | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Short            | EC               | CORP              | US        |     -8582 | NS      | $-155162.56   | -0.47%            |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts Inc               | Vail Resorts Inc                                | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Short            | EC               | CORP              | US        |      -816 | NS      | $-108364.80   | -0.33%            |  |  |  | No            |                  1 | On Loan: No      |
| VanEck Semiconductor ETF       | VanEck Semiconductor ETF                        | CUSIP: 92189F676<br>LEI: 549300MJTG2N9QRH7I02 | Short            | EC               | RF                | US        |     -1737 | NS      | $-625545.81   | -1.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Walker & Dunlop Inc            | Walker & Dunlop Inc                             | CUSIP: 93148P102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -1693 | NS      | $-101833.95   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                     | Watsco Inc                                      | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Short            | EC               | CORP              | US        |      -796 | NS      | $-268212.20   | -0.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Werner Enterprises Inc         | Werner Enterprises Inc                          | CUSIP: 950755108<br>LEI: 549300P6XRGOCHHJST37 | Short            | EC               | CORP              | US        |     -7062 | NS      | $-211930.62   | -0.64%            |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                  | Westlake Corp                                   | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Short            | EC               | CORP              | US        |     -2949 | NS      | $-218049.06   | -0.66%            |  |  |  | No            |                  1 | On Loan: No      |
| XPO Inc                        | XPO Inc                                         | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Short            | EC               | CORP              | US        |     -2798 | NS      | $-380276.18   | -1.16%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-24

**Name of Applicant:** Managed Portfolio Series

**Signature:** /s/ Benjamin Eirich

**Name of Signer:** Managed Portfolio Series

**Title:** Treasurer