# EDGAR Filing Document

**Accession Number:** 0001511699
**File Stem:** 0000894189-25-005883
**Filing Date:** 2025-8
**Character Count:** 19559
**Document Hash:** 4bff6fc8fdafd73a572e04fbc45327ee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-005883.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0000894189-25-005883

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20250930

**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:** 251256652

**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 Core ETF (Series ID: S000083373)

| Class ID   | Class Name        | Ticker Symbol   |
|:---|:---|:---|
| C000246976 | Leuthold Core ETF | LCR             |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Leuthold Core ETF** | **Leuthold Core ETF** | **Leuthold Core ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **EXCHANGE TRADED FUNDS - 91.0%** | **Shares** | **Value** |
| Communication Services Select Sector SPDR Fund | 70531 | $7654729 |
| Direxion Daily S&P 500 Bear 1x Shares | 289416 | 2980985 |
| Financial Select Sector SPDR Fund | 161510 | 8458279 |
| Health Care Select Sector SPDR Fund | 17375 | 2341976 |
| Industrial Select Sector SPDR Fund | 6281 | 926573 |
| Invesco CurrencyShares Euro Currency Trust | 8820 | 959528 |
| Invesco CurrencyShares Japanese Yen Trust <sup>(a)</sup> | 9928 | 634796 |
| Invesco KBW Bank ETF | 8561 | 613139 |
| Invesco Leisure & Entertainment ETF | 7292 | 414915 |
| Invesco S&P 500 Equal Weight Consumer Discretionary ETF | 22137 | 1177910 |
| iShares 1-3 Year Treasury Bond ETF | 139738 | 11578691 |
| iShares 5-10 Year Investment Grade Corporate Bond ETF | 21347 | 1137581 |
| iShares 7-10 Year Treasury Bond ETF | 12332 | 1181036 |
| iShares Expanded Tech-Software Sector ETF <sup>(a)</sup> | 19368 | 2120796 |
| iShares International Treasury Bond ETF | 15970 | 688307 |
| iShares MBS ETF | 7173 | 673473 |
| iShares U.S. Healthcare Providers ETF | 26848 | 1306155 |
| iShares U.S. Insurance ETF | 6805 | 915000 |
| iShares U.S. Telecommunications ETF | 39073 | 1163594 |
| SPDR Bloomberg International Corporate Bond ETF | 22920 | 746963 |
| SPDR Bloomberg International Treasury Bond ETF | 78256 | 1838233 |
| SPDR S&P Capital Markets ETF | 4103 | 594648 |
| Technology Select Sector SPDR Fund | 32503 | 8230735 |
| US Global Jets ETF <sup>(a)</sup> | 49728 | 1142252 |
| Utilities Select Sector SPDR Fund | 22053 | 1800848 |
| VanEck Gold Miners ETF/USA | 40424 | 2104473 |
| Vanguard Short-Term Inflation-Protected Securities ETF | 15451 | 776722 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $56,476,447) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $56,476,447) | 64162337 |
| **TOTAL INVESTMENTS - 91.0% (**Cost $56,476,447**)** | **TOTAL INVESTMENTS - 91.0% (**Cost $56,476,447**)** | 64162337 |
| Money Market Deposit Account - 9.0% <sup>(b)</sup> | Money Market Deposit Account - 9.0% <sup>(b)</sup> | 6322213 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup> | Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup> | 23517 |
| **TOTAL NET ASSETS - 100.0%** |  | $70508067 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

(a) Non-income producing security.

(b) 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 June 30, 2025 was 4.20%.

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

------

#### <br>

#### Summary of Fair Value Disclosure as of June 30, 2025 (Unaudited)
Leuthold Core ETF (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 June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | $64162337 |  |  | $64162337 |
| Total Investments | $64162337 |  |  | $64162337 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

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

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

- **a. Name of Series:** Leuthold Core ETF

- **b. EDGAR series identifier (if any):** S000083373

- **c. LEI of Series:** 5299009E1CVBO7WGV813

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $70586817.88

**Total Liabilities:** $78750.64

**Net Assets:** $70508067.24

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000246976 | 0.17%                | 2.22%                | 3.01%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $80839.20                | $-75129.72                                 |
| Month 2  | $404127.69               | $1059299.45                                |
| Month 3  | $-13130.65               | $1887632.60                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Invesco CurrencyShares Japanes | Invesco CurrencyShares Japanese Yen Trust               | CUSIP: 46138W107<br>LEI: 5493003KFLKC801EII42 | Long             | EC               | RF                | US        |      9928 | NS      | $634796.32    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial Select Sector SPDR  | Industrial Select Sector SPDR Fund                      | CUSIP: 81369Y704<br>LEI: 549300HQI51T8KP6U325 | Long             | EC               | RF                | US        |      6281 | NS      | $926573.12    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares U.S. Healthcare Provid | iShares U.S. Healthcare Providers ETF                   | CUSIP: 464288828<br>LEI: 5493000J69Q6KCUCL849 | Long             | EC               | RF                | US        |     26848 | NS      | $1306155.20   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Utilities Select Sector SPDR F | Utilities Select Sector SPDR Fund                       | CUSIP: 81369Y886<br>LEI: 549300ERQDM80PRYUH21 | Long             | EC               | RF                | US        |     22053 | NS      | $1800847.98   | 2.55%             |  |  |  | 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        |   6322213 | NS      | $6322212.86   | 8.97%             | 2037-09-01      | Variable      | 4.54%                 | No            |                  1 | On Loan: No      |
| iShares International Treasury | iShares International Treasury Bond ETF                 | CUSIP: 464288117<br>LEI: 549300B2GPMXZXJU1462 | Long             | EC               | RF                | US        |     15970 | NS      | $688307.00    | 0.98%             |  |  |  | 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        |     21347 | NS      | $1137581.63   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P Capital Markets ETF   | SPDR S&P Capital Markets ETF                            | CUSIP: 78464A771<br>LEI: 549300BBJPWNKDPREW36 | Long             | EC               | RF                | US        |      4103 | NS      | $594647.79    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Health Care Select Sector SPDR | Health Care Select Sector SPDR Fund                     | CUSIP: 81369Y209<br>LEI: 549300EJNY3KKJHPOY44 | Long             | EC               | RF                | US        |     17375 | NS      | $2341976.25   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Technology Select Sector SPDR  | Technology Select Sector SPDR Fund                      | CUSIP: 81369Y803<br>LEI: 549300BR5T0JNM2MW070 | Long             | EC               | RF                | US        |     32503 | NS      | $8230734.69   | 11.67%            |  |  |  | No            |                  1 | On Loan: No      |
| Communication Services Select  | Communication Services Select Sector SPDR Fund          | CUSIP: 81369Y852<br>LEI: 549300RPODKQJE2HDW24 | Long             | EC               | RF                | US        |     70531 | NS      | $7654729.43   | 10.86%            |  |  |  | No            |                  1 | On Loan: No      |
| Direxion Daily S&P 500 Bear 1x | Direxion Daily S&P 500 Bear 1x Shares                   | CUSIP: 25460E869<br>LEI: 549300T7XOX6HMMC6T83 | Long             | EC               | RF                | US        |    289416 | NS      | $2980984.80   | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco S&P 500 Equal Weight C | Invesco S&P 500 Equal Weight Consumer Discretionary ETF | CUSIP: 46137V381<br>LEI: 549300MDN128WDAE3D15 | Long             | EC               | RF                | US        |     22137 | NS      | $1177909.77   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco KBW Bank ETF           | Invesco KBW Bank ETF                                    | CUSIP: 46138E628<br>LEI: 5493006QRDPX6RZ3LB17 | Long             | EC               | RF                | US        |      8561 | NS      | $613138.82    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares U.S. Insurance ETF     | iShares U.S. Insurance ETF                              | CUSIP: 464288786<br>LEI: 549300DCQ1HNSMVDSM98 | Long             | EC               | RF                | US        |      6805 | NS      | $915000.30    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| US Global Jets ETF             | US Global Jets ETF                                      | CUSIP: 26922A842<br>LEI: 549300UL07KE1VGTTL75 | Long             | EC               | RF                | US        |     49728 | NS      | $1142252.16   | 1.62%             |  |  |  | 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        |     15451 | NS      | $776721.77    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Leisure & Entertainmen | Invesco Leisure & Entertainment ETF                     | CUSIP: 46137V720<br>LEI: 5493008OEEYFK3E4QY42 | Long             | EC               | RF                | US        |      7292 | NS      | $414914.80    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Expanded Tech-Software | iShares Expanded Tech-Software Sector ETF               | CUSIP: 464287515<br>LEI: 54930072GM1ADLZJ5373 | Long             | EC               | RF                | US        |     19368 | NS      | $2120796.00   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Bloomberg International C | SPDR Bloomberg International Corporate Bond ETF         | CUSIP: 78464A151<br>LEI: 549300V3SXQ5D61UEN24 | Long             | EC               | RF                | US        |     22920 | NS      | $746962.80    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 7-10 Year Treasury Bon | iShares 7-10 Year Treasury Bond ETF                     | CUSIP: 464287440<br>LEI: 549300XS1PPZG92M8L16 | Long             | EC               | RF                | US        |     12332 | NS      | $1181035.64   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 1-3 Year Treasury Bond | iShares 1-3 Year Treasury Bond ETF                      | CUSIP: 464287457<br>LEI: 549300W0WX9TL4G6HM56 | Long             | EC               | RF                | US        |    139738 | NS      | $11578690.68  | 16.42%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares U.S. Telecommunication | iShares U.S. Telecommunications ETF                     | CUSIP: 464287713<br>LEI: N/A                  | Long             | EC               | RF                | US        |     39073 | NS      | $1163593.94   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Bloomberg International T | SPDR Bloomberg International Treasury Bond ETF          | CUSIP: 78464A516<br>LEI: 549300XTV2KNHC0UDP69 | Long             | EC               | RF                | US        |     78256 | NS      | $1838233.44   | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Financial Select Sector SPDR F | Financial Select Sector SPDR Fund                       | CUSIP: 81369Y605<br>LEI: 549300Y12KQ6ZG08NY28 | Long             | EC               | RF                | US        |    161510 | NS      | $8458278.70   | 12.00%            |  |  |  | No            |                  1 | On Loan: No      |
| VanEck Gold Miners ETF/USA     | VanEck Gold Miners ETF/USA                              | CUSIP: 92189F106<br>LEI: 54930031TORTKAM9TJ98 | Long             | EC               | RF                | US        |     40424 | NS      | $2104473.44   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco CurrencyShares Euro Cu | Invesco CurrencyShares Euro Currency Trust              | CUSIP: 46138K103<br>LEI: N/A                  | Long             | EC               | RF                | US        |      8820 | NS      | $959527.80    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MBS ETF                | iShares MBS ETF                                         | CUSIP: 464288588<br>LEI: 549300M0TH0IE2E6RP07 | Long             | EC               | RF                | US        |      7173 | NS      | $673472.97    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-26

**Name of Applicant:** Managed Portfolio Series

**Signature:** /s/ Benjamin Eirich

**Name of Signer:** Managed Portfolio Series

**Title:** Treasurer