# EDGAR Filing Document

**Accession Number:** 0001511699
**File Stem:** 0000894189-26-004498
**Filing Date:** 2026-2
**Character Count:** 124057
**Document Hash:** a5d6a43e43791441dbc9ad5b745c06d2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-004498.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0000894189-26-004498

**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:** 26671391

**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 Global Fund (Series ID: S000083372)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000246974 | Institutional Class | GLBIX           |
| C000246975 | Retail Class        | GLBLX           |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **Leuthold Global Fund** | **Leuthold Global Fund** | **Leuthold Global Fund** | **Leuthold Global Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 70.4%** |  | **Shares** | **Value**  |
| **Air Freight & Logistics - 3.5%** | **Air Freight & Logistics - 3.5%** | **Air Freight & Logistics - 3.5%** | |
| Deutsche Post AG |  | 2697 | $147056 |
| FedEx Corp. |  | 651 | 188048 |
| Hyundai Glovis Co. Ltd. |  | 596 | 74810 |
| JD Logistics, Inc. <sup>(a)(b)</sup> |  | 48500 | 71358 |
| United Parcel Service, Inc. - Class B |  | 1820 | 180526 |
| Yamato Holdings Co. Ltd. |  | 5300 | 74622 |
|  |  |  | 736420 |
| **Automobile Components - 4.6%** | **Automobile Components - 4.6%** | **Automobile Components - 4.6%** |  |
| Aumovio SE <sup>(a)</sup> |  | 533 | 26763 |
| Autoliv, Inc. |  | 792 | 94010 |
| Continental AG |  | 1067 | 84680 |
| Hyundai Mobis Co. Ltd. |  | 449 | 116507 |
| Lear Corp. |  | 718 | 82283 |
| Magna International, Inc. |  | 2650 | 141245 |
| Minth Group, Ltd. |  | 26000 | 106521 |
| Sumitomo Electric Industries Ltd. |  | 5600 | 225553 |
| Toyoda Gosei Co. Ltd. |  | 3300 | 83196 |
|  |  |  | 960758 |
| **Automobiles - 0.9%** | **Automobiles - 0.9%** | **Automobiles - 0.9%** |  |
| General Motors Co. |  | 2227 | 181100 |
| **Banks - 9.8%** | **Banks - 9.8%** | **Banks - 9.8%** |  |
| ABN AMRO Bank NV <sup>(b)</sup> |  | 4649 | 162431 |
| ANZ Group Holdings Ltd. |  | 2982 | 72098 |
| Banco Santander SA - ADR |  | 17062 | 200137 |
| Bank of Nova Scotia |  | 896 | 66026 |
| Barclays PLC - ADR |  | 6407 | 163058 |
| Canadian Imperial Bank of Commerce |  | 1209 | 109547 |
| Citigroup, Inc. |  | 982 | 114590 |
| Comerica, Inc. |  | 1158 | 100665 |
| Commerzbank AG |  | 5568 | 234995 |
| Danske Bank AS |  | 2031 | 101421 |
| M&T Bank Corp. |  | 390 | 78577 |
| Mizuho Financial Group, Inc. - ADR |  | 21658 | 158537 |
| Nishi-Nippon Financial Holdings, Inc. |  | 5000 | 102571 |
| Old National Bancorp/IN |  | 3278 | 73132 |
| Svenska Handelsbanken AB - Class A |  | 7343 | 106382 |
| UniCredit SpA |  | 1569 | 129955 |
| United Overseas Bank Ltd. |  | 2600 | 70812 |
|  |  |  | 2044934 |
| **Capital Markets - 6.7%** | **Capital Markets - 6.7%** | **Capital Markets - 6.7%** |  |
| Daiwa Securities Group, Inc. |  | 9200 | 80627 |
| Deutsche Bank AG |  | 5529 | 213198 |
| Goldman Sachs Group, Inc. |  | 296 | 260184 |
| Interactive Brokers Group, Inc. - Class A |  | 1874 | 120517 |
| Investec PLC |  | 7214 | 53549 |
| Macquarie Group Ltd. |  | 751 | 101483 |
| Morgan Stanley |  | 1168 | 207355 |
| Raymond James Financial, Inc. |  | 717 | 115143 |
| SBI Holdings, Inc. |  | 4300 | 92665 |
| UBS Group AG |  | 3253 | 150646 |
|  |  |  | 1395367 |
| **Communications Equipment - 2.9%** | **Communications Equipment - 2.9%** | **Communications Equipment - 2.9%** |  |
| Arcadyan Technology Corp. |  | 9000 | 49748 |
| BYD Electronic International Co. Ltd. |  | 13000 | 56297 |
| Cisco Systems, Inc. |  | 1562 | 120321 |
| Digi International, Inc. <sup>(a)</sup> |  | 1592 | 68918 |
| F5, Inc. <sup>(a)</sup> |  | 264 | 67389 |
| NetScout Systems, Inc. <sup>(a)</sup> |  | 3060 | 82803 |
| Viavi Solutions, Inc. <sup>(a)</sup> |  | 5802 | 103392 |
| ZTE Corp. - Class H |  | 14600 | 51009 |
|  |  |  | 599877 |
| **Energy Equipment & Services - 3.6%** | **Energy Equipment & Services - 3.6%** | **Energy Equipment & Services - 3.6%** |  |
| Baker Hughes Co. |  | 3260 | 148460 |
| China Oilfield Services Ltd. - Class H |  | 84000 | 75482 |
| DOF Group ASA |  | 8219 | 77384 |
| Enerflex Ltd. |  | 4600 | 70916 |
| Innovex International, Inc. <sup>(a)</sup> |  | 3401 | 74380 |
| NOV, Inc. |  | 7078 | 110629 |
| Oceaneering International, Inc. <sup>(a)</sup> |  | 3057 | 73460 |
| Weatherford International PLC |  | 1436 | 112381 |
|  |  |  | 743092 |
| **Gas Utilities - 2.9%** | **Gas Utilities - 2.9%** | **Gas Utilities - 2.9%** |  |
| Italgas SpA |  | 8016 | 89407 |
| Korea Gas Corp. |  | 2104 | 57324 |
| Kunlun Energy Co. Ltd. |  | 72000 | 68827 |
| MDU Resources Group, Inc. |  | 4209 | 82160 |
| Naturgy Energy Group SA |  | 2810 | 85560 |
| New Jersey Resources Corp. |  | 1406 | 64845 |
| Toho Gas Co. Ltd. |  | 2000 | 59608 |
| UGI Corp. |  | 2518 | 94249 |
|  |  |  | 601980 |
| **Health Care Providers & Services - 3.5%** | **Health Care Providers & Services - 3.5%** | **Health Care Providers & Services - 3.5%** |  |
| Concentra Group Holdings Parent, Inc. |  | 0<br> <sup>(c)</sup>  | 0 |
| HCA Healthcare, Inc. |  | 437 | 204018 |
| National HealthCare Corp. |  | 832 | 114059 |
| Select Medical Holdings Corp. |  | 8242 | 122394 |
| Tenet Healthcare Corp. <sup>(a)</sup> |  | 720 | 143078 |
| Universal Health Services, Inc. - Class B |  | 610 | 132992 |
|  |  |  | 716541 |
| **Insurance - 5.7%** | **Insurance - 5.7%** | **Insurance - 5.7%** |  |
| Axis Capital Holdings Ltd. |  | 1217 | 130328 |
| Chubb Ltd. |  | 216 | 67418 |
| DB Insurance Co. Ltd. |  | 977 | 88716 |
| Fairfax Financial Holdings Ltd. |  | 78 | 148657 |
| Hartford Insurance Group, Inc. |  | 697 | 96046 |
| Loews Corp. |  | 1055 | 111102 |
| Markel Group, Inc. <sup>(a)</sup> |  | 38 | 81687 |
| Old Republic International Corp. |  | 3116 | 142214 |
| QBE Insurance Group Ltd. |  | 7064 | 93524 |
| Sompo Holdings, Inc. |  | 6700 | 227413 |
|  |  |  | 1187105 |
| **Interactive Media & Services - 2.0%** | **Interactive Media & Services - 2.0%** | **Interactive Media & Services - 2.0%** |  |
| Baidu, Inc. - Class A <sup>(a)</sup> |  | 6550 | 107716 |
| CAR Group Ltd. |  | 2543 | 52084 |
| Cargurus, Inc. <sup>(a)</sup> |  | 1890 | 72482 |
| LY Corp. |  | 20300 | 54017 |
| Match Group, Inc. |  | 1523 | 49178 |
| Scout24 SE <sup>(b)</sup> |  | 767 | 77037 |
|  |  |  | 412514 |
| **Marine Transportation - 2.8%** | **Marine Transportation - 2.8%** | **Marine Transportation - 2.8%** |  |
| AP Moller - Maersk AS - Class B |  | 43 | 98666 |
| Global Ship Lease, Inc. - Class A |  | 1970 | 69029 |
| Matson, Inc. |  | 474 | 58563 |
| Nippon Yusen KK |  | 2300 | 74501 |
| Orient Overseas International Ltd. |  | 4500 | 72558 |
| Wallenius Wilhelmsen ASA |  | 7604 | 75710 |
| Yang Ming Marine Transport Corp. |  | 38000 | 67192 |
| ZIM Integrated Shipping Services Ltd. |  | 3368 | 71502 |
|  |  |  | 587721 |
| **Oil, Gas & Consumable Fuels - 4.2%** | **Oil, Gas & Consumable Fuels - 4.2%** | **Oil, Gas & Consumable Fuels - 4.2%** |  |
| Cenovus Energy, Inc. |  | 4761 | 80556 |
| Chevron Corp. |  | 677 | 103182 |
| Ecopetrol SA - ADR |  | 6918 | 69318 |
| Equinor ASA - ADR |  | 2580 | 60965 |
| Exxon Mobil Corp. |  | 1786 | 214927 |
| Galp Energia SGPS SA |  | 3627 | 62458 |
| PTT PCL - NVDR - NVDR |  | 69200 | 70269 |
| Suncor Energy, Inc. |  | 2555 | 113340 |
| TotalEnergies SE |  | 1485 | 97149 |
|  |  |  | 872164 |
| **Paper & Forest Products - 0.0% <sup>(d)</sup>** | **Paper & Forest Products - 0.0% <sup>(d)</sup>** | **Paper & Forest Products - 0.0% <sup>(d)</sup>** |  |
| China Forestry Holdings Co. Ltd. <sup>(a)(e)</sup> |  | 2484000 | 0 |
| **Passenger Airlines - 4.0%** | **Passenger Airlines - 4.0%** | **Passenger Airlines - 4.0%** |  |
| ANA Holdings, Inc. |  | 4100 | 77866 |
| Cathay Pacific Airways Ltd. |  | 67000 | 107045 |
| Copa Holdings SA - Class A |  | 798 | 96247 |
| Delta Air Lines, Inc. |  | 2368 | 164339 |
| Eva Airways Corp. |  | 59000 | 68607 |
| International Consolidated Airlines Group SA |  | 35582 | 197316 |
| Singapore Airlines Ltd. |  | 24100 | 119656 |
|  |  |  | 831076 |
| **Semiconductors & Semiconductor Equipment - 4.4%** | **Semiconductors & Semiconductor Equipment - 4.4%** | **Semiconductors & Semiconductor Equipment - 4.4%** |  |
| ACM Research, Inc. - Class A <sup>(a)</sup> |  | 2204 | 86948 |
| Amkor Technology, Inc. |  | 2927 | 115558 |
| Applied Materials, Inc. |  | 643 | 165244 |
| ASML Holding NV |  | 140 | 149780 |
| MKS, Inc. |  | 690 | 110262 |
| Photronics, Inc. <sup>(a)</sup> |  | 2896 | 92672 |
| SCREEN Holdings Co. Ltd. |  | 900 | 87664 |
| Tokyo Electron Ltd. |  | 500 | 111364 |
|  |  |  | 919492 |
| **Transportation Infrastructure - 3.4%** | **Transportation Infrastructure - 3.4%** | **Transportation Infrastructure - 3.4%** |  |
| Aena SME SA <sup>(b)</sup> |  | 7332 | 204862 |
| Fraport AG Frankfurt Airport Services Worldwide <sup>(a)</sup> |  | 1783 | 145800 |
| Grupo Aeroportuario del Sureste SAB de CV - ADR |  | 295 | 95403 |
| International Container Terminal Services, Inc. |  | 18190 | 174556 |
| Shenzhen International Holdings Ltd. |  | 80500 | 89490 |
|  |  |  | 710111 |
| **Wireless Telecommunication Services - 5.5%** | **Wireless Telecommunication Services - 5.5%** | **Wireless Telecommunication Services - 5.5%** |  |
| America Movil SAB de CV - ADR |  | 5943 | 122842 |
| Far EasTone Telecommunications Co. Ltd. |  | 32000 | 89859 |
| Freenet AG |  | 3122 | 107544 |
| KDDI Corp. |  | 7200 | 124616 |
| MTN Group Ltd. |  | 14267 | 146061 |
| Tele2 AB - Class B |  | 8203 | 137454 |
| TIM SA/Brazil - ADR |  | 5516 | 107286 |
| T-Mobile US, Inc. |  | 750 | 152280 |
| Vodafone Group PLC - ADR |  | 12347 | 163104 |
|  |  |  | 1151046 |
| **TOTAL COMMON STOCKS** (Cost $12,178,955) | **TOTAL COMMON STOCKS** (Cost $12,178,955) | **TOTAL COMMON STOCKS** (Cost $12,178,955) | 14651298 |
| **EXCHANGE TRADED FUNDS - 6.1%** |  | **Shares** | **Value**  |
| Invesco CurrencyShares Japanese Yen Trust <sup>(a)</sup> |  | 1372 | 80495 |
| iShares 5-10 Year Investment Grade Corporate Bond ETF |  | 3779 | 203613 |
| iShares International Treasury Bond ETF |  | 2232 | 92985 |
| SPDR Bloomberg International Corporate Bond ETF |  | 4949 | 158912 |
| SPDR Bloomberg International Treasury Bond ETF |  | 11276 | 254048 |
| State Street SPDR Portfolio Intermediate Term Corporate Bond ETF |  | 7455 | 252054 |
| Vanguard Mortgage-Backed Securities ETF |  | 2975 | 140063 |
| Vanguard Short-Term Inflation-Protected Securities ETF |  | 1801 | 89078 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $1,230,844) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $1,230,844) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $1,230,844) | 1271248 |
| **U.S. TREASURY SECURITIES - 2.4%** | **U.S. TREASURY SECURITIES - 2.4%** | **Par** | **Value**  |
|  United States Treasury Note/Bond, 3.88%, 08/15/2033 |  | 510000 | 506633 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $495,155) | **TOTAL U.S. TREASURY SECURITIES** (Cost $495,155) | **TOTAL U.S. TREASURY SECURITIES** (Cost $495,155) | 506633 |
| **FOREIGN GOVERNMENT DEBT OBLIGATIONS - 2.0%** | **FOREIGN GOVERNMENT DEBT OBLIGATIONS - 2.0%** | **Par** | **Value**  |
|  French Republic Government Bond OAT, 3.00%, 05/25/2033 <sup>(b)</sup> | EUR | 145000 | 168032 |
|  United Kingdom Gilt, 4.25%, 07/31/2034 | GBP | 185000 | 246372 |
| **TOTAL FOREIGN GOVERNMENT DEBT OBLIGATIONS** (Cost $387,304) | **TOTAL FOREIGN GOVERNMENT DEBT OBLIGATIONS** (Cost $387,304) | **TOTAL FOREIGN GOVERNMENT DEBT OBLIGATIONS** (Cost $387,304) | 414404 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **U.S. TREASURY BILLS - 2.4%** | **U.S. TREASURY BILLS - 2.4%** | **Par** | **Value**  |
| 3.75%, 01/29/2026 <sup>(f)</sup> |  | 500000 | 498557 |
| **TOTAL U.S. TREASURY BILLS** (Cost $498,557) | **TOTAL U.S. TREASURY BILLS** (Cost $498,557) | **TOTAL U.S. TREASURY BILLS** (Cost $498,557) | 498557 |
| **TOTAL INVESTMENTS - 83.3% (**Cost $14,790,815**)** <sup>(g)</sup> | **TOTAL INVESTMENTS - 83.3% (**Cost $14,790,815**)** <sup>(g)</sup> | **TOTAL INVESTMENTS - 83.3% (**Cost $14,790,815**)** <sup>(g)</sup> | 17342140 |
| Money Market Deposit Account - 16.2% <sup>(g)(h)</sup> | Money Market Deposit Account - 16.2% <sup>(g)(h)</sup> | Money Market Deposit Account - 16.2% <sup>(g)(h)</sup> | 3367301 |
| Other Assets in Excess of Liabilities - 0.5% | Other Assets in Excess of Liabilities - 0.5% | Other Assets in Excess of Liabilities - 0.5% | 103788 |
| **TOTAL NET ASSETS - 100.0%** |  |  | $20813229 |
| Par amount is in USD unless otherwise indicated. | 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. | 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. | 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 |
| NVDR - Non-Voting Depositary Receipt |
| PCL - Public Company Limited |
| PLC - Public Limited Company |
| EUR - Euro |
| GBP - British Pound |

---

(a) Non-income producing security.

(b) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional
 investors. As of December 31, 2025, the value of these securities total $683,720 or 3.3% of the Fund's net assets.

(c) Rounds to zero.

(d) Represents less than 0.05% of net assets.

(e) Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or
 0.0% of net assets as of December 31, 2025.

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

(g) 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 $20,709,441.

(h) 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 Global Fund** | **Leuthold Global Fund** | **Leuthold Global 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)** |
| **EXCHANGE TRADED FUNDS - (8.5)%** | **Shares** | **Value** |
| Invesco Nasdaq 100 ETF | (1818) | $(459809) |
| iShares Expanded Tech-Software Sector ETF | (379) | (40056) |
| iShares MSCI EAFE ETF | (4857) | (466418) |
| iShares MSCI Emerging Markets ETF | (2007) | (109803) |
| iShares Russell 2000 ETF | (98) | (24124) |
| iShares S&P 500 Growth ETF | (931) | (114755) |
| State Street Real Estate Select Sector SPDR ETF | (528) | (21305) |
| State Street SPDR Portfolio S&P 500 ETF | (466) | (37382) |
| VanEck Semiconductor ETF | (85) | (30611) |
| Vanguard Total World Stock ETF | (3298) | (465216) |
| **TOTAL EXCHANGE TRADED FUNDS** (Proceeds $1,726,841) | **TOTAL EXCHANGE TRADED FUNDS** (Proceeds $1,726,841) | (1769479) |
| **COMMON STOCKS** - **(5.4)%** | **Shares** | **Value** |
| **Aerospace & Defense - (0.2)%** | **Aerospace & Defense - (0.2)%** |  |
| Boeing Co. | (53) | (11507) |
| Hexcel Corp. | (132) | (9755) |
| Loar Holdings, Inc. | (103) | (7004) |
| StandardAero, Inc. | (294) | (8432) |
| TransDigm Group, Inc. | (13) | (17288) |
|  |  | (53986) |
| **Banks - (0.2)%** | **Banks - (0.2)%** |  |
| Atlantic Union Bankshares Corp. | (253) | (8931) |
| Glacier Bancorp, Inc. | (163) | (7180) |
| Live Oak Bancshares, Inc. | (213) | (7317) |
| Triumph Financial, Inc. | (199) | (12463) |
|  |  | (35891) |
| **Beverages - (0.1)%** | **Beverages - (0.1)%** |  |
| PepsiCo, Inc. | (104) | (14926) |
| Primo Brands Corp. | (317) | (5183) |
|  |  | (20109) |
| **Building Products - (0.1)%** | **Building Products - (0.1)%** |  |
| AAON, Inc. | (134) | (10218) |
| CSW Industrials, Inc. | (31) | (9099) |
|  |  | (19317) |
| **Capital Markets - (0.7)%** | **Capital Markets - (0.7)%** |  |
| Ares Management Corp. - Class A | (84) | (13577) |
| Blackstone, Inc. | (122) | (18805) |
| Blue Owl Capital, Inc. - Class A | (429) | (6409) |
| Cohen & Steers, Inc. | (121) | (7597) |
| FactSet Research Systems, Inc. | (21) | (6094) |
| Hamilton Lane, Inc. - Class A - Class A | (55) | (7387) |
| KKR & Co., Inc. | (138) | (17592) |
| MarketAxess Holdings, Inc. | (49) | (8881) |
| Moelis & Co. - Class A - Class A | (122) | (8386) |
| Moody's Corp. | (35) | (17880) |
| MSCI, Inc. | (36) | (20655) |
| Perella Weinberg Partners | (370) | (6401) |
| StepStone Group, Inc. - Class A | (124) | (7957) |
|  |  | (147621) |
| **Chemicals - (0.4)%** | **Chemicals - (0.4)%** |  |
| Air Products and Chemicals, Inc. | (54) | (13339) |
| Albemarle Corp. | (157) | (22206) |
| Chemours Co. | (462) | (5447) |
| International Flavors & Fragrances, Inc. | (197) | (13276) |
| Sherwin-Williams Co. | (43) | (13933) |
| Stepan Co. | (100) | (4736) |
| Westlake Corp. | (144) | (10648) |
|  |  | (83585) |
| **Commercial Services & Supplies - (0.2)%** | **Commercial Services & Supplies - (0.2)%** |  |
| Casella Waste Systems, Inc. - Class A | (72) | (7052) |
| Cintas Corp. | (74) | (13917) |
| RB Global, Inc. | (156) | (16048) |
|  |  | (37017) |
| **Construction Materials - (0.0)% <sup>(a)</sup>** | **Construction Materials - (0.0)% <sup>(a)</sup>** |  |
| Knife River Corp. | (100) | (7035) |
| **Containers & Packaging - (0.1)%** | **Containers & Packaging - (0.1)%** |  |
| Smurfit WestRock PLC | (312) | (12065) |
| Sonoco Products Co. | (184) | (8030) |
|  |  | (20095) |
| **Energy Equipment & Services - (0.0)% <sup>(a)</sup>** | **Energy Equipment & Services - (0.0)% <sup>(a)</sup>** |  |
| Select Water Solutions, Inc. | (706) | (7427) |
| **Financial Services - (0.2)%** | **Financial Services - (0.2)%** |  |
| Fidelity National Information Services, Inc. | (222) | (14754) |
| Toast, Inc. - Class A | (488) | (17329) |
| Walker & Dunlop, Inc. | (82) | (4932) |
|  |  | (37015) |
| **Food Products - (0.0)% <sup>(a)</sup>** | **Food Products - (0.0)% <sup>(a)</sup>** |  |
| Tyson Foods, Inc. - Class A | (158) | (9262) |
| **Ground Transportation - (0.3)%** | **Ground Transportation - (0.3)%** |  |
| Knight-Swift Transportation Holdings, Inc. | (164) | (8574) |
| Marten Transport Ltd. | (509) | (5792) |
| Old Dominion Freight Line, Inc. | (87) | (13642) |
| Saia, Inc. | (19) | (6204) |
| Werner Enterprises, Inc. | (344) | (10323) |
| XPO, Inc. | (136) | (18484) |
|  |  | (63019) |
| **Health Care Equipment & Supplies - (0.1)%** | **Health Care Equipment & Supplies - (0.1)%** |  |
| Baxter International, Inc. | (244) | (4663) |
| Intuitive Surgical, Inc. | (31) | (17557) |
|  |  | (22220) |
| **Hotels, Restaurants & Leisure - (0.6)%** | **Hotels, Restaurants & Leisure - (0.6)%** |  |
| Aramark | (219) | (8072) |
| Caesars Entertainment, Inc. | (253) | (5918) |
| Chipotle Mexican Grill, Inc. | (346) | (12802) |
| DoorDash, Inc. - Class A | (71) | (16080) |
| First Watch Restaurant Group, Inc. | (436) | (6575) |
| Global Business Travel Group I | (1011) | (7734) |
| Marriott International, Inc./MD - Class A | (59) | (18304) |
| Restaurant Brands International, Inc. | (254) | (17331) |
| Shake Shack, Inc. - Class A - Class A | (87) | (7062) |
| Starbucks Corp. | (172) | (14484) |
| Texas Roadhouse, Inc. | (100) | (16600) |
| Vail Resorts, Inc. | (40) | (5312) |
|  |  | (136274) |
| **Household Products - (0.1)%** | **Household Products - (0.1)%** |  |
| Clorox Co. | (134) | (13511) |
| **Insurance - (0.4)%** | **Insurance - (0.4)%** |  |
| Aon PLC - Class A | (43) | (15174) |
| Arthur J. Gallagher & Co. | (53) | (13716) |
| Brown & Brown, Inc. | (171) | (13629) |
| Erie Indemnity Co. - Class A - Class A | (42) | (12039) |
| Marsh & McLennan Cos., Inc. | (89) | (16511) |
| Ryan Specialty Holdings, Inc. | (164) | (8467) |
|  |  | (79536) |
| **Life Sciences Tools & Services - (0.2)%** | **Life Sciences Tools & Services - (0.2)%** |  |
| Bio-Techne Corp. | (106) | (6234) |
| Bruker Corp. | (140) | (6596) |
| Danaher Corp. | (85) | (19458) |
| Repligen Corp. | (62) | (10159) |
|  |  | (42447) |
| **Machinery - (0.3)%** | **Machinery - (0.3)%** |  |
| Hillman Solutions Corp. | (839) | (7266) |
| IDEX Corp. | (78) | (13879) |
| Ingersoll Rand, Inc. | (199) | (15765) |
| Standex International Corp. | (42) | (9126) |
| Stanley Black & Decker, Inc. | (177) | (13147) |
|  |  | (59183) |
| **Multi-Utilities - (0.1)%** | **Multi-Utilities - (0.1)%** |  |
| Sempra | (179) | (15804) |
| **Oil, Gas & Consumable Fuels - (0.1)%** | **Oil, Gas & Consumable Fuels - (0.1)%** |  |
| Targa Resources Corp. | (100) | (18450) |
| **Professional Services - (0.1)%** | **Professional Services - (0.1)%** |  |
| CBIZ, Inc. | (121) | (6104) |
| Dayforce, Inc. | (138) | (9544) |
| Paychex, Inc. | (122) | (13686) |
|  |  | (29334) |
| **Semiconductors & Semiconductor Equipment - (0.1)%** | **Semiconductors & Semiconductor Equipment - (0.1)%** |  |
| ARM Holdings PLC - ADR | (123) | (13445) |
| **Software - (0.4)%** | **Software - (0.4)%** |  |
| Braze, Inc. - Class A | (257) | (8813) |
| Cellebrite DI Ltd. | (467) | (8420) |
| Crowdstrike Holdings, Inc. - Class A | (33) | (15469) |
| Datadog, Inc. - Class A | (102) | (13871) |
| Klaviyo, Inc. - Class A | (250) | (8117) |
| Palo Alto Networks, Inc. | (82) | (15104) |
| Samsara, Inc. - Class A | (235) | (8331) |
|  |  | (78125) |
| **Specialty Retail - (0.1)%** | **Specialty Retail - (0.1)%** |  |
| Carvana Co. | (35) | (14771) |
| Floor & Decor Holdings, Inc. - Class A | (73) | (4445) |
|  |  | (19216) |
| **Textiles, Apparel & Luxury Goods - (0.2)%** | **Textiles, Apparel & Luxury Goods - (0.2)%** |  |
| NIKE, Inc. - Class B | (213) | (13570) |
| On Holding AG - Class A | (358) | (16640) |
| VF Corp. | (418) | (7557) |
|  |  | (37767) |
| **Trading Companies & Distributors - (0.1)%** | **Trading Companies & Distributors - (0.1)%** |  |
| Watsco, Inc. | (39) | (13141) |
| **TOTAL COMMON STOCKS** (Proceeds $1,178,982) | **TOTAL COMMON STOCKS** (Proceeds $1,178,982) | (1119832) |
| **REAL ESTATE INVESTMENT TRUSTS - COMMON** - **(0.1)%** | **Shares** | **Value** |
| **Specialized REITs - (0.1)%** | **Specialized REITs - (0.1)%** |  |
| Iron Mountain, Inc. | (172) | (14267) |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Proceeds $17,006) | **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Proceeds $17,006) | (14267) |
| **TOTAL SECURITIES SOLD SHORT - (14.0)%** (Proceeds $2,922,829) |  | $(2903578) |
| 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 |

---

(a) Represents less than 0.05% of net assets.

------

#### Summary of Fair Value Disclosure as of December 31, 2025 (Unaudited)
Leuthold Global 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;Common Stocks | $8448976 | $6202322 | $0<br> <sup>(a)(b)</sup>  | $14651298 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | 1271248 | – | – | 1271248 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | – | 506633 | – | 506633 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Foreign Government Debt Obligations | – | 414404 | – | 414404 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bills | – | 498557 | – | 498557 |
| Total Investments | $9720224 | $7621916 | $0<br> <sup>(a)(b)</sup>  | $17342140 |
| **Liabilities:** |  |  |  |  |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | $(1769479) | $– | $– | $(1769479) |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | (1119832) | – | – | (1119832) |
| &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts - Common | (14267) | – | – | (14267) |
| Total Investments | $(2903578) | $– | $– | $(2903578) |
| 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. |
| Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. |

---

(a) Amount is less than $0.50.

(b) Management has determined transfers into/out of level 3 and the value of level 3 investments at period end to be immaterial to the Fund.

---

| | | |
|:---|:---|:---|
| **Allocation of Portfolio Holdings by Country as of December 31, 2025** | **Allocation of Portfolio Holdings by Country as of December 31, 2025** | |
| (% of Net Assets) | (% of Net Assets) |  |
| United States | $4877336 | 23.6% |
| Japan | 1634820 | 7.9 |
| Germany | 1037073 | 4.9 |
| United Kingdom | 810260 | 3.8 |
| Canada | 730287 | 3.5 |
| Spain | 490559 | 2.4 |
| Taiwan | 381927 | 1.7 |
| China | 361862 | 1.8 |
| Hong Kong | 337920 | 1.5 |
| Sweden | 337846 | 1.6 |
| South Korea | 337357 | 1.7 |
| Australia | 319189 | 1.6 |
| Netherlands | 312211 | 1.5 |
| France | 265181 | 1.3 |
| Italy | 219362 | 1.0 |
| Mexico | 218245 | 1.1 |
| Norway | 214059 | 1.1 |
| Switzerland | 201424 | 0.9 |
| Denmark | 200087 | 1.0 |
| South Africa | 199610 | 1.0 |
| Singapore | 190468 | 0.9 |
| Philippines | 174556 | 0.8 |
| Bermuda | 130328 | 0.6 |
| Brazil | 107286 | 0.5 |
| Panama | 96247 | 0.5 |
| Thailand | 70269 | 0.3 |
| Colombia | 69318 | 0.3 |
| Israel | 63082 | 0.3 |
| Portugal | 62458 | 0.3 |
| Ireland | (12065) | (0.1) |
| Other Assets in Excess of Liabilities | 6374667 | 30.7 |
|  | $**20813229** | 100.0<br>**%** |

---

## 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 Global Fund

- **b. EDGAR series identifier (if any):** S000083372

- **c. LEI of Series:** 529900RD2O88IMYY7Z50

**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:** $23790392.00

**Total Liabilities:** $2978734.32

**Net Assets:** $20811657.68

**Cash Not Reported:** $2992974.24

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000246974 | -0.59%               | 1.22%                | 2.06%                |
| Class ID C000246975 | -0.51%               | 1.14%                | 1.97%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $18.13                   | $-111149.52                                |
| Month 2  | $260453.61               | $-46495.65                                 |
| Month 3  | $569793.97               | $-191773.16                                |

**Designated Index Information**

- **Index Name:** Fund's Securities Portfolio

- **Index Identifier:** DEDLROIB3D

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SCREEN Holdings Co Ltd         | SCREEN Holdings Co Ltd                                           | CUSIP: N/A<br>LEI: 353800ND89FTQ9XQ0R07       | Long             | EC               | CORP              | JP        |       900 | NS      | $87663.92     | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| NOV Inc                        | NOV Inc                                                          | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |      7078 | NS      | $110629.14    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SBI Holdings Inc               | SBI Holdings Inc                                                 | CUSIP: N/A<br>LEI: 353800L6LMHYIPSMRQ17       | Long             | EC               | CORP              | JP        |      4300 | NS      | $92665.05     | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| NetScout Systems Inc           | NetScout Systems Inc                                             | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |      3060 | NS      | $82803.60     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PTT PCL                        | PTT PCL                                                          | CUSIP: N/A<br>LEI: 549300QOGMPTKB6W7G56       | Long             | EC               | CORP              | TH        |     69200 | NS      | $70268.68     | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| New Jersey Resources Corp      | New Jersey Resources Corp                                        | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |      1406 | NS      | $64844.72     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                       | NIKE Inc                                                         | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Short            | EC               | CORP              | US        |      -213 | NS      | $-13570.23    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Yusen KK                | Nippon Yusen KK                                                  | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149       | Long             | EC               | CORP              | JP        |      2300 | NS      | $74500.65     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| OOIL                           | Orient Overseas International Ltd                                | CUSIP: N/A<br>LEI: 529900DQ426GJO276W95       | Long             | EC               | CORP              | HK        |      4500 | NS      | $72558.49     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| QBE Insurance Group Ltd        | QBE Insurance Group Ltd                                          | CUSIP: N/A<br>LEI: 549300D2FBW76FPUSG65       | Long             | EC               | CORP              | AU        |      7064 | NS      | $93523.70     | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Oceaneering International Inc  | Oceaneering International Inc                                    | CUSIP: 675232102<br>LEI: 549300L6PH74701W0R30 | Long             | EC               | CORP              | US        |      3057 | NS      | $73459.71     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc         | Palo Alto Networks Inc                                           | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Short            | EC               | CORP              | US        |       -82 | NS      | $-15104.40    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                    | Paychex Inc                                                      | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Short            | EC               | CORP              | US        |      -122 | NS      | $-13685.96    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| 478160104                      | PepsiCo Inc                                                      | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Short            | EC               | CORP              | US        |      -104 | NS      | $-14926.08    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Perella Weinberg Partners      | Perella Weinberg Partners                                        | CUSIP: 71367G102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -370 | NS      | $-6401.00     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                 | Photronics Inc                                                   | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |      2896 | NS      | $92672.00     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp              | Primo Brands Corp                                                | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Short            | EC               | CORP              | US        |      -317 | NS      | $-5182.95     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| RB Global Inc                  | RB Global Inc                                                    | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Short            | EC               | CORP              | US        |      -156 | NS      | $-16047.72    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial Inc    | Raymond James Financial Inc                                      | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |       717 | NS      | $115143.03    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corp                  | Repligen Corp                                                    | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Short            | EC               | CORP              | US        |       -62 | NS      | $-10159.32    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Restaurant Brands Internationa | Restaurant Brands International Inc                              | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Short            | EC               | CORP              | US        |      -254 | NS      | $-17330.42    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc    | Ryan Specialty Holdings Inc                                      | CUSIP: 78351F107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -164 | NS      | $-8467.32     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                       | Saia Inc                                                         | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Short            | EC               | CORP              | US        |       -19 | NS      | $-6203.88     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Samsara Inc                    | Samsara Inc                                                      | CUSIP: 79589L106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -235 | NS      | $-8330.75     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Nishi-Nippon Financial Holding | Nishi-Nippon Financial Holdings Inc                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      5000 | NS      | $102570.59    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Scout24 SE                     | Scout24 SE                                                       | CUSIP: N/A<br>LEI: 5493007EIKM2ENQS7U66       | Long             | EC               | CORP              | DE        |       767 | NS      | $77037.34     | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| KKR & Co Inc                   | KKR & Co Inc                                                     | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Short            | EC               | CORP              | US        |      -138 | NS      | $-17592.24    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Klaviyo Inc                    | Klaviyo Inc                                                      | CUSIP: 49845K101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -250 | NS      | $-8117.50     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp               | Knife River Corp                                                 | CUSIP: 498894104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -100 | NS      | $-7035.00     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho | Knight-Swift Transportation Holdings Inc                         | CUSIP: 499049104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -164 | NS      | $-8573.92     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                      | Lear Corp                                                        | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |       718 | NS      | $82282.80     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Oak Bancshares Inc        | Live Oak Bancshares Inc                                          | CUSIP: 53803X105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -213 | NS      | $-7316.55     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings Inc              | Loar Holdings Inc                                                | CUSIP: 53947R105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -103 | NS      | $-7004.00     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Loews Corp                     | Loews Corp                                                       | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |      1055 | NS      | $111102.05    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp                  | M&T Bank Corp                                                    | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |       390 | NS      | $78577.20     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU Resources Group Inc        | MDU Resources Group Inc                                          | CUSIP: 552690109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4209 | NS      | $82159.68     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                        | MKS Inc                                                          | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |       690 | NS      | $110262.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                       | MSCI Inc                                                         | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Short            | EC               | CORP              | US        |       -36 | NS      | $-20654.28    | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Magna International Inc        | Magna International Inc                                          | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |      2650 | NS      | $141245.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Naturgy Energy Group SA        | Naturgy Energy Group SA                                          | CUSIP: N/A<br>LEI: TL2N6M87CW970S5SV098       | Long             | EC               | CORP              | ES        |      2810 | NS      | $85559.78     | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Markel Group Inc               | Markel Group Inc                                                 | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |        38 | NS      | $81686.70     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc       | MarketAxess Holdings Inc                                         | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Short            | EC               | CORP              | US        |       -49 | NS      | $-8881.25     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                     | Matson Inc                                                       | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |       474 | NS      | $58562.70     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Financial Group Inc     | Mizuho Financial Group Inc                                       | CUSIP: 60687Y109<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |     21658 | NS      | $158536.56    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co                    | Moelis & Co                                                      | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Short            | EC               | CORP              | US        |      -122 | NS      | $-8386.28     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| LY Corp                        | LY Corp                                                          | CUSIP: N/A<br>LEI: 52990078MD2OL792YM35       | Long             | EC               | CORP              | JP        |     20300 | NS      | $54017.25     | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Moody's Corp                   | Moody's Corp                                                     | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Short            | EC               | CORP              | US        |       -35 | NS      | $-17879.75    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                 | Morgan Stanley                                                   | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      1168 | NS      | $207355.04    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Gas Corp                 | Korea Gas Corp                                                   | CUSIP: N/A<br>LEI: 988400TFZILHBD5M3R71       | Long             | EC               | CORP              | KR        |      2104 | NS      | $57324.27     | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| KDDI Corp                      | KDDI Corp                                                        | CUSIP: N/A<br>LEI: 5299003FU7V4I45FU310       | Long             | EC               | CORP              | JP        |      7200 | NS      | $124615.47    | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Kunlun Energy Co Ltd           | Kunlun Energy Co Ltd                                             | CUSIP: N/A<br>LEI: 5299007GRIKP15GM4927       | Long             | EC               | CORP              | HK        |     72000 | NS      | $68827.59     | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| National HealthCare Corp       | National HealthCare Corp                                         | CUSIP: 635906100<br>LEI: 254900PTS11LS1JS2752 | Long             | EC               | CORP              | US        |       832 | NS      | $114058.88    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MTN Group Ltd                  | MTN Group Ltd                                                    | CUSIP: N/A<br>LEI: 2549009JD6Q6XHZS5E05       | Long             | EC               | CORP              | ZA        |     14267 | NS      | $146061.25    | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Yamato Holdings Co Ltd         | Yamato Holdings Co Ltd                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      5300 | NS      | $74621.77     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Yang Ming Marine Transport Cor | Yang Ming Marine Transport Corp                                  | CUSIP: N/A<br>LEI: 254900WG2ACWNVSP6E13       | Long             | EC               | CORP              | TW        |     38000 | NS      | $67191.71     | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Watsco Inc                     | Watsco Inc                                                       | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Short            | EC               | CORP              | US        |       -39 | NS      | $-13141.05    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Werner Enterprises Inc         | Werner Enterprises Inc                                           | CUSIP: 950755108<br>LEI: 549300P6XRGOCHHJST37 | Short            | EC               | CORP              | US        |      -344 | NS      | $-10323.44    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                  | Westlake Corp                                                    | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Short            | EC               | CORP              | US        |      -144 | NS      | $-10647.36    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| XPO Inc                        | XPO Inc                                                          | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Short            | EC               | CORP              | US        |      -136 | NS      | $-18483.76    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Minth Group Ltd                | Minth Group Ltd                                                  | CUSIP: N/A<br>LEI: 254900B2AH0G13K9G204       | Long             | EC               | CORP              | TW        |     26000 | NS      | $106521.15    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Group Ltd            | Macquarie Group Ltd                                              | CUSIP: N/A<br>LEI: ACMHD8HWFMFUIQQ8Y590       | Long             | EC               | CORP              | AU        |       751 | NS      | $101483.04    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Italgas SpA                    | Italgas SpA                                                      | CUSIP: N/A<br>LEI: 815600F25FF44EF1FA76       | Long             | EC               | CORP              | IT        |      8016 | NS      | $89407.13     | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| JD Logistics Inc               | JD Logistics Inc                                                 | CUSIP: G5074S101<br>LEI: 655600LWTFVMV3E2A890 | Long             | EC               | CORP              | CN        |     48500 | NS      | $71358.31     | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Weatherford International PLC  | Weatherford International PLC                                    | CUSIP: N/A<br>LEI: 529900LPBDSCQDJKHQ39       | Long             | EC               | CORP              | US        |      1436 | NS      | $112381.36    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                | Baker Hughes Co                                                  | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3260 | NS      | $148460.40    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA             | Banco Santander SA                                               | CUSIP: 05964H105<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |     17062 | NS      | $200137.26    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy Inc             | Cenovus Energy Inc                                               | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |      4761 | NS      | $80556.12     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Dayforce Inc                   | Dayforce Inc                                                     | CUSIP: 15677J108<br>LEI: 549300T64GVCHFJ8L449 | Short            | EC               | CORP              | US        |      -138 | NS      | $-9544.08     | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Chemours Co/The                | Chemours Co/The                                                  | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Short            | EC               | CORP              | US        |      -462 | NS      | $-5446.98     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Fairfax Financial Holdings Ltd | Fairfax Financial Holdings Ltd                                   | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |        78 | NS      | $148657.19    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Erie Indemnity Co              | Erie Indemnity Co                                                | CUSIP: 29530P102<br>LEI: 549300WA5KP94KRUFZ80 | Short            | EC               | CORP              | US        |       -42 | NS      | $-12039.30    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| 912828M56                      | Chevron Corp                                                     | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       677 | NS      | $103181.57    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                    | Datadog Inc                                                      | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Short            | EC               | CORP              | US        |      -102 | NS      | $-13870.98    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp                                                 | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      1786 | NS      | $214927.24    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc   | FactSet Research Systems Inc                                     | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Short            | EC               | CORP              | US        |       -21 | NS      | $-6093.99     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Baidu Inc                      | Baidu Inc                                                        | CUSIP: N/A<br>LEI: 254900AL64IANZYI1E02       | Long             | EC               | CORP              | CN        |      6550 | NS      | $107716.19    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| China Forestry Holdings Co Ltd | China Forestry Holdings Co Ltd                                   | CUSIP: G2113A100<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |   2484000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| FedEx Corp                     | FedEx Corp                                                       | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |       651 | NS      | $188047.86    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                         | F5 Inc                                                           | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |       264 | NS      | $67388.64     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd      | Axis Capital Holdings Ltd                                        | CUSIP: N/A<br>LEI: 635400VD2NQBYAHMEM55       | Long             | EC               | CORP              | BM        |      1217 | NS      | $130328.53    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information  | Fidelity National Information Services Inc                       | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Short            | EC               | CORP              | US        |      -222 | NS      | $-14754.12    | -0.07%            |  |  |  | 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        |      -436 | NS      | $-6574.88     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc     | Floor & Decor Holdings Inc                                       | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Short            | EC               | CORP              | US        |       -73 | NS      | $-4444.97     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co              | General Motors Co                                                | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      2227 | NS      | $181099.64    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Glacier Bancorp Inc            | Glacier Bancorp Inc                                              | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Short            | EC               | CORP              | US        |      -163 | NS      | $-7180.15     | -0.03%            |  |  |  | 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        |     -1011 | NS      | $-7734.15     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| 22662X100                      | HCA Healthcare Inc                                               | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       437 | NS      | $204017.82    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                    | Hexcel Corp                                                      | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Short            | EC               | CORP              | US        |      -132 | NS      | $-9754.80     | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Hillman Solutions Corp         | Hillman Solutions Corp                                           | CUSIP: 431636109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -839 | NS      | $-7265.74     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| IDEX Corp                      | IDEX Corp                                                        | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Short            | EC               | CORP              | US        |       -78 | NS      | $-13879.32    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc             | Ingersoll Rand Inc                                               | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Short            | EC               | CORP              | US        |      -199 | NS      | $-15764.78    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Innovex International Inc      | Innovex International Inc                                        | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |      3401 | NS      | $74379.87     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc  | Interactive Brokers Group Inc                                    | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |      1874 | NS      | $120516.94    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| IFF                            | International Flavors & Fragrances Inc                           | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Short            | EC               | CORP              | US        |      -197 | NS      | $-13275.83    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Nasdaq 100 ETF         | Invesco Nasdaq 100 ETF                                           | CUSIP: 46138G649<br>LEI: 549300TKJ3EA6QHM7D23 | Short            | EC               | RF                | US        |     -1818 | NS      | $-459808.56   | -2.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco CurrencyShares Japanes | Invesco CurrencyShares Japanese Yen Trust                        | CUSIP: 46138W107<br>LEI: 5493003KFLKC801EII42 | Long             | EC               | RF                | US        |      1372 | NS      | $80495.24     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc              | Iron Mountain Inc                                                | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Short            | EC               | CORP              | US        |      -172 | NS      | $-14267.40    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Expanded Tech-Software | iShares Expanded Tech-Software Sector ETF                        | CUSIP: 464287515<br>LEI: 54930072GM1ADLZJ5373 | Short            | EC               | RF                | US        |      -379 | NS      | $-40056.51    | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares International Treasury | iShares International Treasury Bond ETF                          | CUSIP: 464288117<br>LEI: 549300B2GPMXZXJU1462 | Long             | EC               | RF                | US        |      2232 | NS      | $92985.12     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 5-10 Year Investment G | iShares 5-10 Year Investment Grade Corporate Bond ETF            | CUSIP: 464288638<br>LEI: 549300ZJOCMXQZ0RKQ84 | Long             | EC               | RF                | US        |      3779 | NS      | $203612.52    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| DB Insurance Co Ltd            | DB Insurance Co Ltd                                              | CUSIP: N/A<br>LEI: 9884000ZF26VNJBWSJ91       | Long             | EC               | CORP              | KR        |       977 | NS      | $88715.61     | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Eva Airways Corp               | Eva Airways Corp                                                 | CUSIP: N/A<br>LEI: 254900S1P4XOXV67GC07       | Long             | EC               | CORP              | TW        |     59000 | NS      | $68606.87     | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Far EasTone Telecommunications | Far EasTone Telecommunications Co Ltd                            | CUSIP: N/A<br>LEI: 529900L7W7BWDLVZL253       | Long             | EC               | CORP              | TW        |     32000 | NS      | $89858.52     | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Hyundai Mobis Co Ltd           | Hyundai Mobis Co Ltd                                             | CUSIP: N/A<br>LEI: 988400HJA9E0ZVDHRS65       | Long             | EC               | CORP              | KR        |       449 | NS      | $116507.14    | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| ICTSI                          | International Container Terminal Services Inc                    | CUSIP: N/A<br>LEI: 254900FU1MWK0I0Q4J61       | Long             | EC               | CORP              | PH        |     18190 | NS      | $174556.07    | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Fraport AG Frankfurt Airport S | Fraport AG Frankfurt Airport Services Worldwide                  | CUSIP: N/A<br>LEI: 5299001ERX0K10IZUL40       | Long             | EC               | CORP              | DE        |      1783 | NS      | $145800.41    | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Suncor Energy Inc              | Suncor Energy Inc                                                | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |      2555 | NS      | $113339.80    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp           | Targa Resources Corp                                             | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Short            | EC               | CORP              | US        |      -100 | NS      | $-18450.00    | -0.09%            |  |  |  | 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        |   3365035 | NS      | $3365035.10   | 16.17%            | 2037-09-01      | Variable      | 4.54%                 | No            |                  1 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                 | CUSIP: 91282CHT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    510000 | PA      | $506633.20    | 2.43%             | 2033-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Universal Health Services Inc  | Universal Health Services Inc                                    | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |       610 | NS      | $132992.20    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts Inc               | Vail Resorts Inc                                                 | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Short            | EC               | CORP              | US        |       -40 | NS      | $-5312.00     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Glovis Co Ltd          | Hyundai Glovis Co Ltd                                            | CUSIP: N/A<br>LEI: 988400U6RDXNJ5ZRN304       | Long             | EC               | CORP              | KR        |       596 | NS      | $74810.25     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Investec PLC                   | Investec PLC                                                     | CUSIP: N/A<br>LEI: 2138007Z3U5GWDN3MY22       | Long             | EC               | CORP              | ZA        |      7214 | NS      | $53548.61     | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Galp Energia SGPS SA           | Galp Energia SGPS SA                                             | CUSIP: N/A<br>LEI: 2138003319Y7NM75FG53       | Long             | EC               | CORP              | PT        |      3627 | NS      | $62458.09     | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Freenet AG                     | Freenet AG                                                       | CUSIP: N/A<br>LEI: 5299003GLDODCVP8DO20       | Long             | EC               | CORP              | DE        |      3122 | NS      | $107544.40    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Tele2 AB                       | Tele2 AB                                                         | CUSIP: N/A<br>LEI: 213800EKD193RVI9HL76       | Long             | EC               | CORP              | SE        |      8203 | NS      | $137454.37    | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| FRANCE (GOVT OF)               | French Republic Government Bond OAT                              | CUSIP: ZL9844081<br>LEI: 969500KCGF3SUYJHPV70 | Long             | DBT              | NUSS              | FR        |    145000 | PA      | $168032.12    | 0.81%             | 2033-05-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB       | Svenska Handelsbanken AB                                         | CUSIP: W9112U104<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | EC               | CORP              | SE        |      7343 | NS      | $106382.03    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Global Ship Lease Inc          | Global Ship Lease Inc                                            | CUSIP: N/A<br>LEI: 254900GLZ0J5N8UZM071       | Long             | EC               | CORP              | GB        |      1970 | NS      | $69028.80     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc  | Old Dominion Freight Line Inc                                    | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Short            | EC               | CORP              | US        |       -87 | NS      | $-13641.60    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp/IN        | Old National Bancorp/IN                                          | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |      3278 | NS      | $73132.18     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Cor | Old Republic International Corp                                  | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |      3116 | NS      | $142214.24    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Airlines Ltd         | Singapore Airlines Ltd                                           | CUSIP: N/A<br>LEI: 549300ZG62N2599PWR15       | Long             | EC               | CORP              | SG        |     24100 | NS      | $119655.71    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| SPDR Bloomberg International C | SPDR Bloomberg International Corporate Bond ETF                  | CUSIP: 78464A151<br>LEI: 549300V3SXQ5D61UEN24 | Long             | EC               | RF                | US        |      4949 | NS      | $158912.39    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Bloomberg International T | SPDR Bloomberg International Treasury Bond ETF                   | CUSIP: 78464A516<br>LEI: 549300XTV2KNHC0UDP69 | Long             | EC               | RF                | US        |     11276 | NS      | $254048.28    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The        | Sherwin-Williams Co/The                                          | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Short            | EC               | CORP              | US        |       -43 | NS      | $-13933.29    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co             | Sonoco Products Co                                               | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Short            | EC               | CORP              | US        |      -184 | NS      | $-8029.76     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Standex International Corp     | Standex International Corp                                       | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Short            | EC               | CORP              | US        |       -42 | NS      | $-9125.76     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| StandardAero Inc               | StandardAero Inc                                                 | CUSIP: 85423L103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -294 | NS      | $-8431.92     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc     | Stanley Black & Decker Inc                                       | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Short            | EC               | CORP              | US        |      -177 | NS      | $-13147.56    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Sompo Holdings Inc             | Sompo Holdings Inc                                               | CUSIP: N/A<br>LEI: 353800CWW4SRGEYEB512       | Long             | EC               | CORP              | JP        |      6700 | NS      | $227412.85    | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| SHENZHEN INT'L                 | Shenzhen International Holdings Ltd                              | CUSIP: N/A<br>LEI: 5493002NKD14ZZMEJF98       | Long             | EC               | CORP              | HK        |     80500 | NS      | $89489.86     | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Smurfit WestRock PLC           | Smurfit WestRock PLC                                             | CUSIP: N/A<br>LEI: 635400EGSEOPDW2EXS14       | Short            | EC               | CORP              | IE        |      -312 | NS      | $-12065.04    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                  | On Holding AG                                                    | CUSIP: N/A<br>LEI: 506700FB3467B9W95526       | Short            | EC               | CORP              | CH        |      -358 | NS      | $-16639.84    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc            | Delta Air Lines Inc                                              | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      2368 | NS      | $164339.20    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc         | Digi International Inc                                           | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |      1592 | NS      | $68917.68     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Post AG               | Deutsche Post AG                                                 | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |      2697 | NS      | $147055.66    | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| VF Corp                        | VF Corp                                                          | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Short            | EC               | CORP              | US        |      -418 | NS      | $-7557.44     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| VanEck Semiconductor ETF       | VanEck Semiconductor ETF                                         | CUSIP: 92189F676<br>LEI: 549300MJTG2N9QRH7I02 | Short            | EC               | RF                | US        |       -85 | NS      | $-30611.05    | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Short-Term Inflation- | Vanguard Short-Term Inflation-Protected Securities ETF           | CUSIP: 922020805<br>LEI: N/A                  | Long             | EC               | RF                | US        |      1801 | NS      | $89077.46     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Total World Stock ETF | Vanguard Total World Stock ETF                                   | CUSIP: 922042742<br>LEI: N/A                  | Short            | EC               | RF                | US        |     -3298 | NS      | $-465215.88   | -2.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Mortgage-Backed Secur | Vanguard Mortgage-Backed Securities ETF                          | CUSIP: 92206C771<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2975 | NS      | $140063.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Viavi Solutions Inc            | Viavi Solutions Inc                                              | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |      5802 | NS      | $103391.64    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC             | Vodafone Group PLC                                               | CUSIP: 92857W308<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |     12347 | NS      | $163103.87    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Walker & Dunlop Inc            | Walker & Dunlop Inc                                              | CUSIP: 93148P102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -82 | NS      | $-4932.30     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Wallenius Wilhelmsen ASA       | Wallenius Wilhelmsen ASA                                         | CUSIP: N/A<br>LEI: 549300NBN0URT3RA3Y54       | Long             | EC               | CORP              | NO        |      7604 | NS      | $75710.57     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| DOF Group ASA                  | DOF Group ASA                                                    | CUSIP: N/A<br>LEI: 213800GIV9N2A714T434       | Long             | EC               | CORP              | NO        |      8219 | NS      | $77383.49     | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG               | Deutsche Bank AG                                                 | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | EC               | CORP              | DE        |      5529 | NS      | $213198.24    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals Inc | Air Products and Chemicals Inc                                   | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Short            | EC               | CORP              | US        |       -54 | NS      | $-13339.08    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp                 | Albemarle Corp                                                   | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Short            | EC               | CORP              | US        |      -157 | NS      | $-22206.08    | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| America Movil SAB de CV        | America Movil SAB de CV                                          | CUSIP: 02390A101<br>LEI: 5493000FNR3UCEAONM59 | Long             | EC               | CORP              | MX        |      5943 | NS      | $122841.81    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                   | DoorDash Inc                                                     | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Short            | EC               | CORP              | US        |       -71 | NS      | $-16080.08    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Ecopetrol SA                   | Ecopetrol SA                                                     | CUSIP: 279158109<br>LEI: 254900IDGKCJICKBPA66 | Long             | EC               | CORP              | CO        |      6918 | NS      | $69318.36     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                    | Equinor ASA                                                      | CUSIP: 29446M102<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |      2580 | NS      | $60965.40     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The    | Goldman Sachs Group Inc/The                                      | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       296 | NS      | $260184.00    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Surest | Grupo Aeroportuario del Sureste SAB de CV                        | CUSIP: 40051E202<br>LEI: 5299001W7JIDXCUOUC82 | Long             | EC               | CORP              | MX        |       295 | NS      | $95403.00     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| AAON Inc                       | AAON Inc                                                         | CUSIP: 000360206<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -134 | NS      | $-10217.50    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| ACM Research Inc               | ACM Research Inc                                                 | CUSIP: 00108J109<br>LEI: 549300MCTENUWL2GJL61 | Long             | EC               | CORP              | US        |      2204 | NS      | $86947.80     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical Inc                                           | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Short            | EC               | CORP              | US        |       -31 | NS      | $-17557.16    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Electric Industries L | Sumitomo Electric Industries Ltd                                 | CUSIP: N/A<br>LEI: 5493005SP87FL5TOS202       | Long             | EC               | CORP              | JP        |      5600 | NS      | $225552.81    | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Toho Gas Co Ltd                | Toho Gas Co Ltd                                                  | CUSIP: N/A<br>LEI: 353800BCVTE4F8012906       | Long             | EC               | CORP              | JP        |      2000 | NS      | $59607.89     | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Electron Ltd             | Tokyo Electron Ltd                                               | CUSIP: N/A<br>LEI: 549300H5LSF8DP3RIJ34       | Long             | EC               | CORP              | JP        |       500 | NS      | $111363.69    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyoda Gosei Co Ltd            | Toyoda Gosei Co Ltd                                              | CUSIP: N/A<br>LEI: 353800ZV4HXVM4DWPO50       | Long             | EC               | CORP              | JP        |      3300 | NS      | $83195.49     | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Hamilton Lane Inc              | Hamilton Lane Inc                                                | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Short            | EC               | CORP              | US        |       -55 | NS      | $-7387.05     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group Inc/T | Hartford Insurance Group Inc/The                                 | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |       697 | NS      | $96046.60     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Emerging Markets  | iShares MSCI Emerging Markets ETF                                | CUSIP: 464287234<br>LEI: 549300BPYHDEDI59G670 | Short            | EC               | RF                | US        |     -2007 | NS      | $-109802.97   | -0.53%            |  |  |  | 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        |      -931 | NS      | $-114755.06   | -0.55%            |  |  |  | No            |                  1 | On Loan: No      |
| United Overseas Bank Ltd       | United Overseas Bank Ltd                                         | CUSIP: N/A<br>LEI: IO66REGK3RCBAMA8HR66       | Long             | EC               | CORP              | SG        |      2600 | NS      | $70812.38     | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street SPDR Portfolio In | State Street SPDR Portfolio Intermediate Term Corporate Bond ETF | CUSIP: 78464A375<br>LEI: 549300V0LZHF2UQ4WK69 | Long             | EC               | RF                | US        |      7455 | NS      | $252053.55    | 1.21%             |  |  |  | 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        |      -466 | NS      | $-37382.52    | -0.18%            |  |  |  | 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        |      -528 | NS      | $-21304.80    | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| 68389X105                      | Starbucks Corp                                                   | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Short            | EC               | CORP              | US        |      -172 | NS      | $-14484.12    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Stepan Co                      | Stepan Co                                                        | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Short            | EC               | CORP              | US        |      -100 | NS      | $-4736.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| StepStone Group Inc            | StepStone Group Inc                                              | CUSIP: 85914M107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -124 | NS      | $-7957.08     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                | T-Mobile US Inc                                                  | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       750 | NS      | $152280.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp          | Tenet Healthcare Corp                                            | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |       720 | NS      | $143078.40    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc            | Texas Roadhouse Inc                                              | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Short            | EC               | CORP              | US        |      -100 | NS      | $-16600.00    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| TIM SA/Brazil                  | TIM SA/Brazil                                                    | CUSIP: 88706T108<br>LEI: 529900QI0CH1DN5ZCS77 | Long             | EC               | CORP              | BR        |      5516 | NS      | $107286.20    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Toast Inc                      | Toast Inc                                                        | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Short            | EC               | CORP              | US        |      -488 | NS      | $-17328.88    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group Inc            | TransDigm Group Inc                                              | CUSIP: 893641100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -13 | NS      | $-17288.05    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Triumph Financial Inc          | Triumph Financial Inc                                            | CUSIP: 89679E300<br>LEI: 5493003RNRMEVYDZ1Q52 | Short            | EC               | CORP              | US        |      -199 | NS      | $-12463.37    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                | Tyson Foods Inc                                                  | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Short            | EC               | CORP              | US        |      -158 | NS      | $-9261.96     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp                       | UGI Corp                                                         | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |      2518 | NS      | $94248.74     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc      | United Parcel Service Inc                                        | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      1820 | NS      | $180525.80    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                                      | CUSIP: 912797RK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $498557.22    | 2.40%             | 2026-01-29      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ZTE Corp                       | ZTE Corp                                                         | CUSIP: N/A<br>LEI: 3003004FBGVVG1CW5U45       | Long             | EC               | CORP              | CN        |     14600 | NS      | $51008.81     | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| International Consolidated Air | International Consolidated Airlines Group SA                     | CUSIP: N/A<br>LEI: 959800TZHQRUSH1ESL13       | Long             | EC               | CORP              | GB        |     35582 | NS      | $197315.85    | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITED KINGDOM GILT            | United Kingdom Gilt                                              | CUSIP: YX3339711<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    185000 | PA      | $246371.91    | 1.18%             | 2034-07-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Aena SME SA                    | Aena SME SA                                                      | CUSIP: N/A<br>LEI: 959800R7QMXKF0NFMT29       | Long             | EC               | CORP              | ES        |      7332 | NS      | $204862.17    | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                  | UniCredit SpA                                                    | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |      1569 | NS      | $129954.94    | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV               | ABN AMRO Bank NV                                                 | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | EC               | CORP              | NL        |      4649 | NS      | $162430.72    | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE               | TotalEnergies SE                                                 | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |      1485 | NS      | $97148.70     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                   | UBS Group AG                                                     | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |      3253 | NS      | $150646.43    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIM Integrated Shipping Servic | ZIM Integrated Shipping Services Ltd                             | CUSIP: N/A<br>LEI: 21380089EIJRELKAIL21       | Long             | EC               | CORP              | IL        |      3368 | NS      | $71502.64     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI EAFE ETF          | iShares MSCI EAFE ETF                                            | CUSIP: 464287465<br>LEI: 549300O0XO3KDQV68404 | Short            | EC               | RF                | US        |     -4857 | NS      | $-466417.71   | -2.24%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 2000 ETF       | iShares Russell 2000 ETF                                         | CUSIP: 464287655<br>LEI: 549300O80OAR5VTWR172 | Short            | EC               | RF                | US        |       -98 | NS      | $-24123.68    | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc       | Marsh & McLennan Cos Inc                                         | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Short            | EC               | CORP              | US        |       -89 | NS      | $-16511.28    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc/MD  | Marriott International Inc/MD                                    | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Short            | EC               | CORP              | US        |       -59 | NS      | $-18304.16    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Marten Transport Ltd           | Marten Transport Ltd                                             | CUSIP: 573075108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -509 | NS      | $-5792.42     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Match Group Inc                | Match Group Inc                                                  | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |      1523 | NS      | $49177.67     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc           | Amkor Technology Inc                                             | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |      2927 | NS      | $115557.96    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc          | Applied Materials Inc                                            | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |       643 | NS      | $165244.57    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                        | Aramark                                                          | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Short            | EC               | CORP              | US        |      -219 | NS      | $-8072.34     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corp           | Ares Management Corp                                             | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Short            | EC               | CORP              | US        |       -84 | NS      | $-13576.92    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Enerflex Ltd                   | Enerflex Ltd                                                     | CUSIP: 29269R105<br>LEI: 54930014N7872VUS3F89 | Long             | EC               | CORP              | CA        |      4600 | NS      | $70916.18     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ARM Holdings PLC               | ARM Holdings PLC                                                 | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Short            | EC               | CORP              | GB        |      -123 | NS      | $-13445.13    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp | Atlantic Union Bankshares Corp                                   | CUSIP: 04911A107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -253 | NS      | $-8930.90     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions Inc     | Select Water Solutions Inc                                       | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Short            | EC               | CORP              | US        |      -706 | NS      | $-7427.12     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Select Medical Holdings Corp   | Select Medical Holdings Corp                                     | CUSIP: 81619Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8242 | NS      | $122393.70    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Autoliv Inc                    | Autoliv Inc                                                      | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | SE        |       792 | NS      | $94010.40     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Nova Scotia/The        | Bank of Nova Scotia/The                                          | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |       896 | NS      | $66026.24     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                         | Sempra                                                           | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Short            | EC               | CORP              | US        |      -179 | NS      | $-15803.91    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Shake Shack Inc                | Shake Shack Inc                                                  | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Short            | EC               | CORP              | US        |       -87 | NS      | $-7061.79     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                   | Barclays PLC                                                     | CUSIP: 06738E204<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |      6407 | NS      | $163058.15    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc       | Baxter International Inc                                         | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Short            | EC               | CORP              | US        |      -244 | NS      | $-4662.84     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                | Bio-Techne Corp                                                  | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Short            | EC               | CORP              | US        |      -106 | NS      | $-6233.86     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                 | Blackstone Inc                                                   | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Short            | EC               | CORP              | US        |      -122 | NS      | $-18805.08    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Blue Owl Capital Inc           | Blue Owl Capital Inc                                             | CUSIP: 09581B103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -429 | NS      | $-6409.26     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                  | Boeing Co/The                                                    | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Short            | EC               | CORP              | US        |       -53 | NS      | $-11507.36    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Braze Inc                      | Braze Inc                                                        | CUSIP: 10576N102<br>LEI: 9845007B9EDBFD37C277 | Short            | EC               | CORP              | US        |      -257 | NS      | $-8812.53     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc              | Brown & Brown Inc                                                | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Short            | EC               | CORP              | US        |      -171 | NS      | $-13628.70    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| 31846V567                      | Bruker Corp                                                      | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Short            | EC               | CORP              | US        |      -140 | NS      | $-6595.40     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| CBIZ Inc                       | CBIZ Inc                                                         | CUSIP: 124805102<br>LEI: 529900D5X8CFM8O1N813 | Short            | EC               | CORP              | US        |      -121 | NS      | $-6104.45     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc            | CSW Industrials Inc                                              | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Short            | EC               | CORP              | US        |       -31 | NS      | $-9099.43     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc      | Caesars Entertainment Inc                                        | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Short            | EC               | CORP              | US        |      -253 | NS      | $-5917.67     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| CIBC                           | Canadian Imperial Bank of Commerce                               | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | EC               | CORP              | CA        |      1209 | NS      | $109547.49    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Cargurus Inc                   | Cargurus Inc                                                     | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |      1890 | NS      | $72481.50     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                     | Carvana Co                                                       | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Short            | EC               | CORP              | US        |       -35 | NS      | $-14770.70    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc      | Casella Waste Systems Inc                                        | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Short            | EC               | CORP              | US        |       -72 | NS      | $-7051.68     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc     | Chipotle Mexican Grill Inc                                       | CUSIP: 169656105<br>LEI: 529900REP5VGTPCP1J71 | Short            | EC               | CORP              | US        |      -346 | NS      | $-12802.00    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems Inc                                                | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      1562 | NS      | $120320.86    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                    | Cintas Corp                                                      | CUSIP: 172908105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |       -74 | NS      | $-13917.18    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                  | Citigroup Inc                                                    | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |       982 | NS      | $114589.58    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Clorox Co/The                  | Clorox Co/The                                                    | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Short            | EC               | CORP              | US        |      -134 | NS      | $-13511.22    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Cohen & Steers Inc             | Cohen & Steers Inc                                               | CUSIP: 19247A100<br>LEI: 549300XXIA338A0X2K65 | Short            | EC               | CORP              | US        |      -121 | NS      | $-7596.38     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Comerica Inc                   | Comerica Inc                                                     | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |      1158 | NS      | $100664.94    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Paren | Concentra Group Holdings Parent Inc                              | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc       | Crowdstrike Holdings Inc                                         | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Short            | EC               | CORP              | US        |       -33 | NS      | $-15469.08    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                   | Danaher Corp                                                     | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Short            | EC               | CORP              | US        |       -85 | NS      | $-19458.20    | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| 91282CFE6                      | Arthur J Gallagher & Co                                          | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Short            | EC               | CORP              | US        |       -53 | NS      | $-13715.87    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| AP Moller - Maersk A/S         | AP Moller - Maersk A/S                                           | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |        43 | NS      | $98665.72     | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Danske Bank A/S                | Danske Bank A/S                                                  | CUSIP: N/A<br>LEI: MAES062Z21O4RZ2U7M96       | Long             | EC               | CORP              | DK        |      2031 | NS      | $101420.61    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Continental AG                 | Continental AG                                                   | CUSIP: N/A<br>LEI: 529900A7YD9C0LLXM621       | Long             | EC               | CORP              | DE        |      1067 | NS      | $84680.17     | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| ANA Holdings Inc               | ANA Holdings Inc                                                 | CUSIP: N/A<br>LEI: 5493008IRKIY0G3TE305       | Long             | EC               | CORP              | JP        |      4100 | NS      | $77865.96     | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| ANZ Group Holdings Ltd         | ANZ Group Holdings Ltd                                           | CUSIP: N/A<br>LEI: 9845005D9C6BAA10BK72       | Long             | EC               | CORP              | AU        |      2982 | NS      | $72097.84     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Cathay Pacific Airways Ltd     | Cathay Pacific Airways Ltd                                       | CUSIP: N/A<br>LEI: EQNZNT235RBOJ6LJQZ02       | Long             | EC               | CORP              | HK        |     67000 | NS      | $107045.43    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Daiwa Securities Group Inc     | Daiwa Securities Group Inc                                       | CUSIP: N/A<br>LEI: 353800WRC7Y23PWFJG38       | Long             | EC               | CORP              | JP        |      9200 | NS      | $80626.92     | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| China Oilfield Services Ltd    | China Oilfield Services Ltd                                      | CUSIP: N/A<br>LEI: 529900J4X53VL8QQW675       | Long             | EC               | CORP              | CN        |     84000 | NS      | $75482.12     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Arcadyan Technology Corp       | Arcadyan Technology Corp                                         | CUSIP: N/A<br>LEI: 254900R5W61G3GO1Q067       | Long             | EC               | CORP              | TW        |      9000 | NS      | $49747.78     | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD ELECTRONIC                 | BYD Electronic International Co Ltd                              | CUSIP: N/A<br>LEI: 5299001O3LAFGRPZ3Y63       | Long             | EC               | CORP              | CN        |     13000 | NS      | $56297.61     | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Commerzbank AG                 | Commerzbank AG                                                   | CUSIP: N/A<br>LEI: 851WYGNLUQLFZBSYGB56       | Long             | EC               | CORP              | DE        |      5568 | NS      | $234995.05    | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Aumovio SE                     | Aumovio SE                                                       | CUSIP: N/A<br>LEI: 391200IGI9RQ7VTOK384       | Long             | EC               | CORP              | DE        |       533 | NS      | $26763.03     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| CAR Group Ltd                  | CAR Group Ltd                                                    | CUSIP: N/A<br>LEI: 5299009TFWZGH2AN7D11       | Long             | EC               | CORP              | AU        |      2543 | NS      | $52084.03     | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Aon PLC                        | Aon PLC                                                          | CUSIP: N/A<br>LEI: 635400FALWQYX5E6QC64       | Short            | EC               | CORP              | GB        |       -43 | NS      | $-15173.84    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| 194014502                      | Chubb Ltd                                                        | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |       216 | NS      | $67417.92     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Cellebrite DI Ltd              | Cellebrite DI Ltd                                                | CUSIP: N/A<br>LEI: 254900G03462YGP1IO36       | Short            | EC               | CORP              | IL        |      -467 | NS      | $-8420.01     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| N07059210                      | ASML Holding NV                                                  | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       140 | NS      | $149780.40    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Copa Holdings SA               | Copa Holdings SA                                                 | CUSIP: N/A<br>LEI: 529900BB9UQJV6QQHA59       | Long             | EC               | CORP              | PA        |       798 | NS      | $96246.78     | 0.46%             |  |  |  | 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