# EDGAR Filing Document

**Accession Number:** 0001359057
**File Stem:** 0001145549-25-049643
**Filing Date:** 2025-7
**Character Count:** 5321
**Document Hash:** 3e84f2c1b13e81d7f70361725c48c47d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-049643.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001145549-25-049643

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250531

**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:** 251160045

**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

### Twin Oak Active Opportunities ETF (Series ID: S000086570)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000252158 | Twin Oak Active Opportunities ETF | TSPX            |

## 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:** Twin Oak Active Opportunities ETF

- **b. EDGAR series identifier (if any):** S000086570

- **c. LEI of Series:** 529900UOLMOVPQ0GOJ22

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

- **a. Date of fiscal year-end:** 2025-05-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $225156045.67

**Total Liabilities:** $69858.97

**Net Assets:** $225086186.70

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000252158 | -2.09%               | 0.72%                | 4.53%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $88527198.19             | $-99241297.95                              |
| Month 2  | $-6404670.41             | $891340.41                                 |
| Month 3  | $2021883.40              | $8569599.10                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| U.S. Bank Money Market Deposit Account | U.S. Bank Money Market Deposit Account       | CUSIP: 8AMMF0A84<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    560115 | NS      | $560115.37    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Ultra Short Duration B         | iShares Ultra Short Duration Bond Active ETF | CUSIP: 46434V878<br>LEI: 549300JE6SRZTXKUCU42 | Long             | EC               | RF                | US        |    767359 | NS      | $38882080.53  | 17.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard S&P 500 ETF                   | Vanguard S&P 500 ETF                         | CUSIP: 922908363<br>LEI: N/A                  | Long             | EC               | RF                | US        |    300747 | NS      | $162932694.72 | 72.39%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Ultra-Short Income ET         | JPMorgan Ultra-Short Income ETF              | CUSIP: 46641Q837<br>LEI: 549300VN24B8TQAGGX74 | Long             | EC               | RF                | US        |    450011 | NS      | $22779556.82  | 10.12%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** Manager Directed Portfolios

**Signature:** /s/ Ryan Frank

**Name of Signer:** Ryan Frank

**Title:** President