# EDGAR Filing Document

**Accession Number:** 0001511699
**File Stem:** 0001193125-26-243914
**Filing Date:** 2026-5
**Character Count:** 21133
**Document Hash:** cf09aebf5f6bdd2fea02f8f5d702ad61
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-243914.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001193125-26-243914

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**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:** 261032211

**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

### Kensington Managed Income Fund (Series ID: S000075575)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000234786 | Institutional Class Shares | KAMIX           |
| C000234787 | Class C Shares             | KAMCX           |
| C000234788 | Class A Shares             | KAMAX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Kensington Managed Income Fund** | **Kensington Managed Income Fund** | **Kensington Managed Income Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **OPEN-END FUNDS - 58.3%** | **Shares**  | **Value**  |
| American High-Income Trust - Class F-3 | 15527950 | $151708075 |
| BlackRock High Yield Portfolio - Class K | 7112376 | 50284495 |
| Fidelity Capital & Income Fund | 5020080 | 54417671 |
| Manning & Napier High Yield Bond Series - Class Z | 6727841 | 64116329 |
| MML Barings High Yield Fund - Class I <sup>(b)</sup> | 3622092 | 29049180 |
| Nuveen Strategic Income Fund - Class R6 | 895622 | 8857704 |
| Transamerica High Yield Bond - Class I | 3077494 | 24743053 |
| Victory Pioneer Strategic Income Fund - Class K | 2615063 | 25470711 |
| **TOTAL OPEN-END FUNDS** (Cost $402,011,883) | **TOTAL OPEN-END FUNDS** (Cost $402,011,883) | 408647218 |
| **EXCHANGE TRADED FUNDS - 41.1%** | **Shares**  | **Value**  |
| iShares Broad USD High Yield Corporate Bond ETF <sup>(a)</sup> | 2073733 | 76396324 |
| Janus Henderson Securitized Income ETF | 264409 | 13630284 |
| John Hancock High Yield ETF <sup>(b)</sup> | 150000 | 3801795 |
| Nuveen Securitized Income ETF <sup>(a)</sup> | 50000 | 1258930 |
| PIMCO Multisector Bond Active ETF <sup>(a)</sup> | 1690431 | 44289292 |
| State Street SPDR Portfolio High Yield Bond ETF | 3128978 | 72967767 |
| VanEck Fallen Angel High Yield Bond ETF | 1244430 | 35740029 |
| Xtrackers USD High Yield Corporate Bond ETF | 1122962 | 40606306 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $287,834,542) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $287,834,542) | 288690727 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 11.2%** | **Units**  | **Value**  |
| Mount Vernon Liquid Assets Portfolio, LLC, 3.78% <sup>(c)</sup> | 78215864 | 78215864 |
| **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $78,215,864) | **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $78,215,864) | 78215864 |
| **TOTAL INVESTMENTS - 110.6% (**Cost $768,062,289**)** | **TOTAL INVESTMENTS - 110.6% (**Cost $768,062,289**)** | 775553809 |
| Money Market Deposit Account - 0.4% <sup>(d)</sup> | Money Market Deposit Account - 0.4% <sup>(d)</sup> | 3046752 |
| Liabilities in Excess of Other Assets - (11.0)% | Liabilities in Excess of Other Assets - (11.0)% | (77221366) |
| **TOTAL NET ASSETS - 100.0%** |  | $701379195 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

LLC - Limited Liability Company<br>

(a) All or a portion of this security is on loan as of March 31, 2026. The fair value of these securities was $77,338,227.

(b) Affiliated security as defined by the Investment Company Act of 1940.

(c) The rate shown represents the 7-day annualized yield as of March 31, 2026.

(d) 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 March 31, 2026 was 3.45%.

------

#### Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
Kensington Managed Income 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 March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Open-End Funds | $408647218 | $– | $– | $408647218 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | 288690727 | – | – | 288690727 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending<sup>(a)</sup> | – | – | – | 78215864 |
| Total Investments | $697337945 | $– | $– | $775553809 |
| 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. |

---

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of
 $78,215,864 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Kensington Managed Income Fund - Transactions with Affiliates**<br> If the Fund's holding represents ownership of 5% or more of the voting securities of a company, the company is deemed to be an affiliate as defined by the 1940 Act. The Fund conducted transactions during the period ended March 31, 2026, with affiliated companies as so defined: | **Kensington Managed Income Fund - Transactions with Affiliates**<br> If the Fund's holding represents ownership of 5% or more of the voting securities of a company, the company is deemed to be an affiliate as defined by the 1940 Act. The Fund conducted transactions during the period ended March 31, 2026, with affiliated companies as so defined: | **Kensington Managed Income Fund - Transactions with Affiliates**<br> If the Fund's holding represents ownership of 5% or more of the voting securities of a company, the company is deemed to be an affiliate as defined by the 1940 Act. The Fund conducted transactions during the period ended March 31, 2026, with affiliated companies as so defined: | **Kensington Managed Income Fund - Transactions with Affiliates**<br> If the Fund's holding represents ownership of 5% or more of the voting securities of a company, the company is deemed to be an affiliate as defined by the 1940 Act. The Fund conducted transactions during the period ended March 31, 2026, with affiliated companies as so defined: | **Kensington Managed Income Fund - Transactions with Affiliates**<br> If the Fund's holding represents ownership of 5% or more of the voting securities of a company, the company is deemed to be an affiliate as defined by the 1940 Act. The Fund conducted transactions during the period ended March 31, 2026, with affiliated companies as so defined: | **Kensington Managed Income Fund - Transactions with Affiliates**<br> If the Fund's holding represents ownership of 5% or more of the voting securities of a company, the company is deemed to be an affiliate as defined by the 1940 Act. The Fund conducted transactions during the period ended March 31, 2026, with affiliated companies as so defined: | **Kensington Managed Income Fund - Transactions with Affiliates**<br> If the Fund's holding represents ownership of 5% or more of the voting securities of a company, the company is deemed to be an affiliate as defined by the 1940 Act. The Fund conducted transactions during the period ended March 31, 2026, with affiliated companies as so defined: | **Kensington Managed Income Fund - Transactions with Affiliates**<br> If the Fund's holding represents ownership of 5% or more of the voting securities of a company, the company is deemed to be an affiliate as defined by the 1940 Act. The Fund conducted transactions during the period ended March 31, 2026, with affiliated companies as so defined: | **Kensington Managed Income Fund - Transactions with Affiliates**<br> If the Fund's holding represents ownership of 5% or more of the voting securities of a company, the company is deemed to be an affiliate as defined by the 1940 Act. The Fund conducted transactions during the period ended March 31, 2026, with affiliated companies as so defined: | |
|  | **Value as of** <br> **December 31, 2025** | **Additions** | **Reductions** | **Realized Gain**<br> (Loss) | **Net Change in Unrealized**<br> **Appreciation (Depreciation)** | **Value as of**<br> **March 31, 2026** | **Shares as of**<br> **March 31, 2026** | **Dividend / Interest Income** |<br>**Capital Gain Distributions**<br> **from** <br> **Underlying Funds** |
| John Hancock High Yield ETF | $3874500 | $– | $– | $– | $(72705) | $3801795 | 150000 | $50649 | $– |
| MML Barrings High Yield Fund – Class I | $25073358 | $4500000 | $– | $– | $(524178) | $29049180 | 3622092 | $476076 | $– |
|  | $**28947858** | $**4500000** | $**–** | $**–** | $**(596883)** | $**32850975** | **3772092** | $**526725** | $**–** |

---

## 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:** Kensington Managed Income Fund

- **b. EDGAR series identifier (if any):** S000075575

- **c. LEI of Series:** 5493002K680MXVOQI389

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $780921786.00

**Total Liabilities:** $79343024.33

**Net Assets:** $701578761.67

**Cash Not Reported:** $608371.74

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234786 | 0.52%                | 0.41%                | -1.49%               |
| Class ID C000234787 | 0.52%                | 0.21%                | -1.55%               |
| Class ID C000234788 | 0.52%                | 0.31%                | -1.46%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $471589.82               | $2211604.03                                |
| Month 2  | $30648.63                | $-414306.08                                |
| Month 3  | $-320392.40              | $-13416854.20                              |

**Designated Index Information**

- **Index Name:** ICE BofA US High Yield Total Return Index

- **Index Identifier:** H0A0

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BondBloxx CCC-Rated USD High Y            | BondBloxx CCC-Rated USD High Yield Corporate Bond ETF | CUSIP: 09789C887<br>LEI: N/A                  | Long             | EC               | RF                | US        |      9167 | NS      | $333678.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Capital & Income Fund            | Fidelity Capital & Income Fund                        | CUSIP: 316062108<br>LEI: LU703CW6CEVPXCO7Y179 | Long             | EC               | RF                | US        |   5020080 | NS      | $54417670.68  | 7.76%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Broad USD High Yield C            | iShares Broad USD High Yield Corporate Bond ETF       | CUSIP: 46435U853<br>LEI: 549300X7H67ZLUE3IZ46 | Long             | EC               | RF                | US        |   2073733 | NS      | $76396323.72  | 10.89%            |  |  |  | No            |                  1 | On Loan: —       |
| Janus Henderson Securitized In            | Janus Henderson Securitized Income ETF                | CUSIP: 47103U746<br>LEI: 213800ILCSKNDETKIU60 | Long             | EC               | RF                | US        |    264409 | NS      | $13630283.95  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| John Hancock High Yield ETF               | John Hancock High Yield ETF                           | CUSIP: 47804J719<br>LEI: 254900QYOD8YY0487976 | Long             | EC               | RF                | US        |    150000 | NS      | $3801795.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Manning & Napier High Yield Bo            | Manning & Napier High Yield Bond Series               | CUSIP: 56382R241<br>LEI: 5493000VQ6DXRDU0N128 | Long             | EC               | RF                | US        |   6727841 | NS      | $64116328.92  | 9.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MML Barings High Yield Fund               | MML Barings High Yield Fund                           | CUSIP: 57629H327<br>LEI: AQDRLVGKF0IT8SWIC757 | Long             | EC               | RF                | US        |   3622092 | NS      | $29049179.89  | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Strategic Income Fund              | Nuveen Strategic Income Fund                          | CUSIP: 670693878<br>LEI: D1SNQQOZ05OZW7FW7N26 | Long             | EC               | RF                | US        |    895622 | NS      | $8857704.37   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Securitized Income ETF             | Nuveen Securitized Income ETF                         | CUSIP: 67092P698<br>LEI: 254900VY03VUUSY2TQ72 | Long             | EC               | RF                | US        |     50000 | NS      | $1258930.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| PIMCO Multisector Bond Active             | PIMCO Multisector Bond Active ETF                     | CUSIP: 72201R585<br>LEI: 5493000GFQP1EZBJDY50 | Long             | EC               | RF                | US        |   1690431 | NS      | $44289292.20  | 6.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC             | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  78215864 | NS      | $78215863.76  | 11.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Xtrackers USD High Yield Corpo            | Xtrackers USD High Yield Corporate Bond ETF           | CUSIP: 233051432<br>LEI: 5493000ENPC36KSKPY20 | Long             | EC               | RF                | US        |   1122962 | NS      | $40606305.92  | 5.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Pioneer Strategic Inco            | Victory Pioneer Strategic Income Fund                 | CUSIP: 92648H719<br>LEI: TN5Y392EHJ8T3X0XI337 | Long             | EC               | RF                | US        |   2615063 | NS      | $25470711.30  | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR Portfolio Hi            | State Street SPDR Portfolio High Yield Bond ETF       | CUSIP: 78468R606<br>LEI: 549300B3SM8J1H4W2052 | Long             | EC               | RF                | US        |   3128978 | NS      | $72967766.96  | 10.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Transamerica High Yield Bond              | Transamerica High Yield Bond                          | CUSIP: 893962159<br>LEI: 549300E2RRC6XIJ79123 | Long             | EC               | RF                | US        |   3077494 | NS      | $24743052.72  | 3.53%             |  |  |  | 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        |   3046752 | NS      | $3046752.44   | 0.43%             | 2037-09-01      | Variable      | 4.54%                 | No            |                  1 | On Loan: No      |
| VanEck Fallen Angel High Yield            | VanEck Fallen Angel High Yield Bond ETF               | CUSIP: 92189F437<br>LEI: 549300A6A1N73WLV0K30 | Long             | EC               | RF                | US        |   1244430 | NS      | $35740029.60  | 5.09%             |  |  |  | No            |                  1 | On Loan: No      |
| American High-Income Trust                | American High-Income Trust                            | CUSIP: 026547778<br>LEI: WRWMC5QCF7WNXYIQUK76 | Long             | EC               | RF                | US        |  15527950 | NS      | $151708074.54 | 21.62%            |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock High Yield Portfolio            | BlackRock High Yield Portfolio                        | CUSIP: 09260B614<br>LEI: XWWYL9CQGONNWQ4RS723 | Long             | EC               | RF                | US        |   7112376 | NS      | $50284495.02  | 7.17%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

**Name of Applicant:** Managed Portfolio Series

**Signature:** /s/ Brian Wiedmeyer

**Name of Signer:** Managed Portfolio Series

**Title:** President