# EDGAR Filing Document

**Accession Number:** 0001359057
**File Stem:** 0000894189-26-001925
**Filing Date:** 2026-1
**Character Count:** 8438
**Document Hash:** 8c2fcba183154735b3a996c009cdbd01
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-001925.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0000894189-26-001925

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**PERIOD START**: 20260531

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21897
- **FILM NUMBER:** 26564058

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

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

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

## Series and Classes Contracts Data

### SanJac Alpha Low Duration ETF (Series ID: S000085376)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000250379 | SanJac Alpha Low Duration ETF | SJLD            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 4145163123

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

- **a. Name of Series:** SanJac Alpha Low Duration ETF

- **b. EDGAR series identifier (if any):** S000085376

- **c. LEI of Series:** 529900200LBHIXC30Z23

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $2293561.23

**Total Liabilities:** $490.60

**Net Assets:** $2293070.63

**Cash Not Reported:** $261635.15

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000250379 | 0.11%                | 0.53%                | 0.23%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-1620.56                                  |
| Month 2  | $-0.74                   | $-1784.55                                  |
| Month 3  | $1833.75                 | $-1159.52                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                     | Title                                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AG MORTGAGE INVEST TR    | AG Mortgage Investment Trust Inc               | CUSIP: 001228709<br>LEI: 549300SNP0PBR2XTFR48 | Long             | EP               | CORP              | US        |      3000 | NS      | $75300.00     | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL            | United States Treasury Bill                    | CUSIP: 912797NU7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $299188.48    | 13.05%            | 2025-12-26      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL            | United States Treasury Bill                    | CUSIP: 912797SS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    225000 | PA      | $223036.79    | 9.73%             | 2026-02-24      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BABCOCK & WILCOX ENTERPR | Babcock & Wilcox Enterprises Inc               | CUSIP: 05614L308<br>LEI: 5493006H661OZN2C0T54 | Long             | EP               | CORP              | US        |      2900 | NS      | $72964.00     | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP  | Chimera Investment Corp                        | CUSIP: 16934Q877<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |      1400 | NS      | $35224.00     | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| PACIFIC GAS & ELECTRIC   | Pacific Gas and Electric Co                    | CUSIP: 694308JM0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99624.95     | 4.34%             | 2030-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL            | United States Treasury Bill                    | CUSIP: 912797RY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    100000 | PA      | $99762.57     | 4.35%             | 2025-12-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B          | United States Treasury Inflation Indexed Bonds | CUSIP: 91282CNB3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    510165 | PA      | $516313.78    | 22.52%            | 2030-04-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| BABCOCK & WILCOX ENTERPR | Babcock & Wilcox Enterprises Inc               | CUSIP: 05614L506<br>LEI: 5493006H661OZN2C0T54 | Long             | EP               | CORP              | US        |      1650 | NS      | $40128.00     | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNYMAC MTGE INVESTMENT | PennyMac Mortgage Investment Trust             | CUSIP: 70931T707<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |      6000 | NS      | $152160.00    | 6.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA FINANCIAL INC        | MFA Financial Inc                              | CUSIP: 55272X706<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |      3000 | NS      | $74910.00     | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B          | United States Treasury Note/Bond               | CUSIP: 91282CPJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $249619.54    | 10.89%            | 2035-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNYMAC MTGE INVESTMENT | PennyMac Mortgage Investment Trust             | CUSIP: 70931T806<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |      3500 | NS      | $89705.00     | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-27

**Name of Applicant:** Manager Directed Portfolios

**Signature:** /s/ Ryan Frank

**Name of Signer:** Ryan Frank

**Title:** President