# EDGAR Filing Document

**Accession Number:** 0001511699
**File Stem:** 0000894189-25-015124
**Filing Date:** 2025-11
**Character Count:** 33189
**Document Hash:** 78a5c06359d86815a2ae74a533fdd14f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-015124.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0000894189-25-015124

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20260630

**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:** 251519088

**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

### LK Balanced Fund (Series ID: S000037522)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000115829 | Institutional Class | LKBLX           |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **LK Balanced Fund** | **LK Balanced Fund** | **LK Balanced Fund** | **LK Balanced Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 72.9%** | **COMMON STOCKS - 72.9%** | **Shares** | **Value**  |
| **Communication Services - 4.7%** | **Communication Services - 4.7%** | **Communication Services - 4.7%** | |
| Alphabet - Class C | Alphabet - Class C | 2500 | $608875 |
| Walt Disney | Walt Disney | 5000 | 572500 |
|  |  |  | 1181375 |
| **Consumer Discretionary - 4.8%** | **Consumer Discretionary - 4.8%** | **Consumer Discretionary - 4.8%** |  |
| Asbury Automotive Group <sup>(a)</sup> | Asbury Automotive Group <sup>(a)</sup> | 2500 | 611125 |
| LKQ | LKQ | 12200 | 372588 |
| MarineMax <sup>(a)</sup> | MarineMax <sup>(a)</sup> | 8910 | 225690 |
|  |  |  | 1209403 |
| **Consumer Staples - 3.0%** | **Consumer Staples - 3.0%** | **Consumer Staples - 3.0%** |  |
| Crimson Wine Group <sup>(a)</sup> | Crimson Wine Group <sup>(a)</sup> | 26090 | 135235 |
| Hershey | Hershey | 3300 | 617265 |
|  |  |  | 752500 |
| **Energy - 10.2%** | **Energy - 10.2%** | **Energy - 10.2%** |  |
| Chevron | Chevron | 4000 | 621160 |
| Civitas Resources | Civitas Resources | 5000 | 162500 |
| Phillips 66 | Phillips 66 | 6300 | 856926 |
| Texas Pacific Land | Texas Pacific Land | 1000 | 933640 |
|  |  |  | 2574226 |
| **Financials - 22.9%** | **Financials - 22.9%** | **Financials - 22.9%** |  |
| Aflac | Aflac | 8000 | 893600 |
| Arthur J. Gallagher | Arthur J. Gallagher | 3000 | 929220 |
| Berkshire Hathaway - Class B <sup>(a)</sup> | Berkshire Hathaway - Class B <sup>(a)</sup> | 2200 | 1106028 |
| Brookfield Asset Management | Brookfield Asset Management | 5250 | 298935 |
| Brookfield Corp. | Brookfield Corp. | 2500 | 171450 |
| Chubb Ltd. | Chubb Ltd. | 2000 | 564500 |
| Cullen Frost Bankers | Cullen Frost Bankers | 5000 | 633850 |
| Fifth Third Bancorp | Fifth Third Bancorp | 13000 | 579150 |
| Nelnet, Inc. - Class A | Nelnet, Inc. - Class A | 4500 | 564210 |
|  |  |  | 5740943 |
| **Health Care - 14.7%** | **Health Care - 14.7%** | **Health Care - 14.7%** |  |
| Bruker Corp. | Bruker Corp. | 5000 | 162450 |
| Charles River Laboratories International <sup>(a)</sup> | Charles River Laboratories International <sup>(a)</sup> | 2600 | 406796 |
| Elevance Health | Elevance Health | 2000 | 646240 |
| HCA Healthcare, Inc. | HCA Healthcare, Inc. | 1800 | 767160 |
| Johnson & Johnson | Johnson & Johnson | 3000 | 556260 |
| Pfizer | Pfizer | 15000 | 382200 |
| Thermo Fisher Scientific | Thermo Fisher Scientific | 1600 | 776032 |
|  |  |  | 3697138 |
| **Industrials - 5.9%** | **Industrials - 5.9%** | **Industrials - 5.9%** |  |
| Canadian Pacific Kansas City | Canadian Pacific Kansas City | 8000 | 595920 |
| Lincoln Electric Holdings | Lincoln Electric Holdings | 2100 | 495243 |
| MSC Industrial Direct Co. - Class A | MSC Industrial Direct Co. - Class A | 1820 | 167695 |
| Sky Harbour Group <sup>(a)</sup> | Sky Harbour Group <sup>(a)</sup> | 23000 | 227010 |
|  |  |  | 1485868 |
| **Information Technology - 5.2%** | **Information Technology - 5.2%** | **Information Technology - 5.2%** |  |
| Keysight Technologies <sup>(a)</sup> | Keysight Technologies <sup>(a)</sup> | 1700 | 297364 |
| Microsoft | Microsoft | 1950 | 1010003 |
|  |  |  | 1307367 |
| **Materials - 1.5%** | **Materials - 1.5%** | **Materials - 1.5%** |  |
| Vulcan Materials | Vulcan Materials | 1200 | 369144 |
| **TOTAL COMMON STOCKS** (Cost $8,556,161) | **TOTAL COMMON STOCKS** (Cost $8,556,161) | **TOTAL COMMON STOCKS** (Cost $8,556,161) | 18317964 |
| **CORPORATE BONDS - 14.3%** | **CORPORATE BONDS - 14.3%** | **Par** | **Value**  |
| **Communication Services - 1.3%** | **Communication Services - 1.3%** | **Communication Services - 1.3%** | **Communication Services - 1.3%** |
|  TWDC Enterprises 18, 3.00%, 02/13/2026 | TWDC Enterprises 18, 3.00%, 02/13/2026 | 325000 | 323672 |
| **Consumer Discretionary - 3.1%** | **Consumer Discretionary - 3.1%** | **Consumer Discretionary - 3.1%** | **Consumer Discretionary - 3.1%** |
|  Genuine Parts Co., 6.50%, 11/01/2028 | Genuine Parts Co., 6.50%, 11/01/2028 | 500000 | 531236 |
|  Newell Brands, 3.90%, 11/01/2025 | Newell Brands, 3.90%, 11/01/2025 | 250000 | 250972 |
|  |  |  | 782208 |
| **Consumer Staples - 2.0%** | **Consumer Staples - 2.0%** | **Consumer Staples - 2.0%** | **Consumer Staples - 2.0%** |
|  Flowers Foods, Inc., 3.50%, 10/01/2026 | Flowers Foods, Inc., 3.50%, 10/01/2026 | 500000 | 495750 |
| **Financials - 4.0%** | **Financials - 4.0%** | **Financials - 4.0%** | **Financials - 4.0%** |
|  Old Republic International, 3.88%, 08/26/2026 | Old Republic International, 3.88%, 08/26/2026 | 500000 | 498300 |
|  Prudential Financial, 5.13% to 02/28/2032 then 5 yr. CMT Rate + 3.16%, 03/01/2052 | Prudential Financial, 5.13% to 02/28/2032 then 5 yr. CMT Rate + 3.16%, 03/01/2052 | 500000 | 502838 |
|  |  |  | 1001138 |
| **Health Care - 1.9%** | **Health Care - 1.9%** | **Health Care - 1.9%** | **Health Care - 1.9%** |
|  Laboratory Corporation of America Holdings, 1.55%, 06/01/2026 | Laboratory Corporation of America Holdings, 1.55%, 06/01/2026 | 500000 | 491740 |
| **Industrials - 2.0%** | **Industrials - 2.0%** | **Industrials - 2.0%** | **Industrials - 2.0%** |
|  Boeing, 2.20%, 02/04/2026 | Boeing, 2.20%, 02/04/2026 | 500000 | 496247 |
| **TOTAL CORPORATE BONDS** (Cost $3,559,771) | **TOTAL CORPORATE BONDS** (Cost $3,559,771) | **TOTAL CORPORATE BONDS** (Cost $3,559,771) | 3590755 |
| **U.S. TREASURY SECURITIES - 7.0%** | **U.S. TREASURY SECURITIES - 7.0%** | **Par** | **Value**  |
| United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond |
| &nbsp;&nbsp; 2.25%, 11/15/2025 | &nbsp;&nbsp; 2.25%, 11/15/2025 | 500000 | 498935 |
| &nbsp;&nbsp; 3.88%, 01/15/2026 | &nbsp;&nbsp; 3.88%, 01/15/2026 | 500000 | 499880 |
| &nbsp;&nbsp; 4.00%, 02/15/2026 | &nbsp;&nbsp; 4.00%, 02/15/2026 | 500000 | 500130 |
| &nbsp;&nbsp; 1.50%, 08/15/2026 | &nbsp;&nbsp; 1.50%, 08/15/2026 | 250000 | 245193 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $1,743,239) | **TOTAL U.S. TREASURY SECURITIES** (Cost $1,743,239) | **TOTAL U.S. TREASURY SECURITIES** (Cost $1,743,239) | 1744138 |
| **U.S. GOVERNMENT AGENCY ISSUES - 5.0%** | **U.S. GOVERNMENT AGENCY ISSUES - 5.0%** | **Par** | **Value**  |
|  Federal Farm Credit Banks Funding Corp, 4.20%, 08/20/2027 | Federal Farm Credit Banks Funding Corp, 4.20%, 08/20/2027 | 250000 | 250019 |
|  Federal Home Loan Bank, 5.00%, 01/26/2034 | Federal Home Loan Bank, 5.00%, 01/26/2034 | 500000 | 496463 |
|  Federal Home Loan Banks, 0.00%, 09/19/2030 <sup>(b)</sup> | Federal Home Loan Banks, 0.00%, 09/19/2030 <sup>(b)</sup> | 500000 | 499398 |
| **TOTAL U.S. GOVERNMENT AGENCY ISSUES** (Cost $1,250,000) | **TOTAL U.S. GOVERNMENT AGENCY ISSUES** (Cost $1,250,000) | **TOTAL U.S. GOVERNMENT AGENCY ISSUES** (Cost $1,250,000) | 1245880 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 4.4%** | **MONEY MARKET FUNDS - 4.4%** | **Shares** | **Value**  |
| First American Government Obligations - Class Z, 4.01% <sup>(c)</sup> | First American Government Obligations - Class Z, 4.01% <sup>(c)</sup> | 1108328 | 1108328 |
| **TOTAL MONEY MARKET FUNDS** (Cost $1,108,328) | **TOTAL MONEY MARKET FUNDS** (Cost $1,108,328) | **TOTAL MONEY MARKET FUNDS** (Cost $1,108,328) | 1108328 |
| **TOTAL INVESTMENTS - 103.6% (**Cost $16,217,499**)** | **TOTAL INVESTMENTS - 103.6% (**Cost $16,217,499**)** | **TOTAL INVESTMENTS - 103.6% (**Cost $16,217,499**)** | 26007065 |
| Liabilities in Excess of Other Assets - (3.6)% | Liabilities in Excess of Other Assets - (3.6)% | Liabilities in Excess of Other Assets - (3.6)% | (893022) |
| **TOTAL NET ASSETS - 100.0%** | 0.0% | 0.0% | $25114043 |
| two | two | two | –% |
| 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. |

---

CMT - Constant Maturity Treasury<br>

(a) Non-income producing security.

(b) Step coupon bond. The rate disclosed is as of September 30, 2025.

(c) The rate shown represents the 7-day annualized yield as of September 30, 2025.

------

#### <br>

#### Summary of Fair Value Disclosure as of September 30, 2025 (Unaudited)
LK Balanced 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 September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $18317964 | $– | $– | $18317964 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | 3590755 | – | 3590755 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | – | 1744138 | – | 1744138 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Agency Issues | – | 1245880 | – | 1245880 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 1108328 | – | – | 1108328 |
| Total Investments | $19426292 | $6580773 | $– | $26007065 |
| 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:** LK Balanced Fund

- **b. EDGAR series identifier (if any):** S000037522

- **c. LEI of Series:** 254900RM5CY80OEQ3I37

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $25184620.66

**Total Liabilities:** $53698.76

**Net Assets:** $25130921.90

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 20241.366559492315 | **1-Year:** 18035.735779478275 | **5-Year:** 27220.325925971787 | **10-Year:** 6078.695453775500 | **30-Year:** 0.000000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 200.778000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000115829 | -0.19%               | 3.42%                | 0.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $221557.46               | $-264654.21                                |
| Month 2  | $169983.00               | $632647.40                                 |
| Month 3  | $130393.23               | $-70213.07                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| 533900106   | Alphabet Inc                                 | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      2500 | NS      | $608875.00    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| 912828J27   | Boeing Co/The                                | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $496246.72    | 1.97%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| 316773100   | Arthur J Gallagher & Co                      | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |      3000 | NS      | $929220.00    | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| 567908108   | Berkshire Hathaway Inc                       | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      2200 | NS      | $1106028.00   | 4.40%             |  |  |  | No            |                  1 | On Loan: No      |
| 91282CEQ0   | Chevron Corp                                 | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4000 | NS      | $621160.00    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| 194014502   | Civitas Resources Inc                        | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |     10000 | NS      | $325000.00    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| 166764100   | Federal Home Loan Banks                      | CUSIP: 3130AYNK8<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |    500000 | PA      | $496463.09    | 1.98%             | 2034-01-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| 49338L103   | Lincoln Electric Holdings Inc                | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |      2100 | NS      | $495243.00    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| 22662X100   | United States Treasury Note/Bond             | CUSIP: 912828M56<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $498934.58    | 1.99%             | 2025-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| 594918104   | Vulcan Materials Co                          | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |      1200 | NS      | $369144.00    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| 718546104   | Aflac Inc                                    | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |      8000 | NS      | $893600.00    | 3.56%             |  |  |  | No            |                  1 | On Loan: No      |
| 113004105   | Elevance Health Inc                          | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      1000 | NS      | $323120.00    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| 91282CFE6   | Brookfield Asset Management Ltd              | CUSIP: 113004105<br>LEI: 549300CZ84WPNJZKY093 | Long             | EC               | CORP              | US        |      5250 | NS      | $298935.00    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| 808513BD6   | Fifth Third Bancorp                          | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |     13000 | NS      | $579150.00    | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| 832696AK4   | MarineMax Inc                                | CUSIP: 567908108<br>LEI: 254900TIXTN8WY3FNN63 | Long             | EC               | CORP              | US        |      8910 | NS      | $225690.30    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| 912828M56   | Newell Brands Inc                            | CUSIP: 651229AS5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250972.50    | 1.00%             | 2025-11-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| 159864107   | Old Republic International Corp              | CUSIP: 680223AK0<br>LEI: 549300IV6O2YY2A1KH37 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498299.53    | 1.98%             | 2026-08-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| 501889208   | Thermo Fisher Scientific Inc                 | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      1600 | NS      | $776032.00    | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| 548661DH7   | United States Treasury Note/Bond             | CUSIP: 91282CGL9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $500130.10    | 1.99%             | 2026-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| 427866108   | Genuine Parts Co                             | CUSIP: 372460AE5<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |    500000 | PA      | $531236.09    | 2.11%             | 2028-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| 036752103   | Keysight Technologies Inc                    | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |      1700 | NS      | $297364.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| 17888H103   | Sky Harbour Group Corp                       | CUSIP: 83085C107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15000 | NS      | $148050.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| 229899109   | United States Treasury Note/Bond             | CUSIP: 9128282A7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $245193.47    | 0.98%             | 2026-08-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| 363576109   | Cullen/Frost Bankers Inc                     | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |      5000 | NS      | $633850.00    | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| 372460AE5   | Johnson & Johnson                            | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      4000 | NS      | $741680.00    | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| 40412C101   | LKQ Corp                                     | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |     12200 | NS      | $372588.00    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| 043436104   | Texas Pacific Land Corp                      | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1000 | NS      | $933640.00    | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd   | Chubb Ltd                                    | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |      2000 | NS      | $564500.00    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| 88262P102   | Flowers Foods Inc                            | CUSIP: 343498AB7<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |    500000 | PA      | $495749.84    | 1.97%             | 2026-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| 097023DG7   | Microsoft Corp                               | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      1950 | NS      | $1010002.50   | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| 13646K108   | Pfizer Inc                                   | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     15000 | NS      | $382200.00    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| 428291AM0   | Prudential Financial Inc                     | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502838.50    | 2.00%             | 2052-03-01      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| 3130AYNK8   | Brookfield Corp                              | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |      2500 | NS      | $171450.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| 31846V567   | Asbury Automotive Group Inc                  | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |      2500 | NS      | $611125.00    | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| 64031N108   | Bruker Corp                                  | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |     10000 | NS      | $324900.00    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| 02079K107   | Canadian Pacific Kansas City Ltd             | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      8000 | NS      | $595920.00    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| 478160104   | Charles River Laboratories International Inc | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |      2600 | NS      | $406796.00    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| 254687106   | Crimson Wine Group Ltd                       | CUSIP: 22662X100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26090 | NS      | $135234.91    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| 83085C107   | Walt Disney Co/The                           | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      5000 | NS      | $572500.00    | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| 50540RAX0   | TWDC Enterprises 18 Corp                     | CUSIP: 25468PDK9<br>LEI: 7260JQNI6SCF9FIV2392 | Long             | DBT              | CORP              | US        |    325000 | PA      | $323672.46    | 1.29%             | 2026-02-13      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| 001055102   | Federal Farm Credit Banks Funding Corp       | CUSIP: 3133ETTZ0<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |    250000 | PA      | $250018.82    | 0.99%             | 2027-08-20      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| 744320BJ0   | First American Government Obligations Fund   | CUSIP: 31846V567<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   1108328 | NS      | $1108327.92   | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| 651229AS5   | HCA Healthcare Inc                           | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      1800 | NS      | $767160.00    | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| 25468PDK9   | Hershey Co/The                               | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      3300 | NS      | $617265.00    | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| 3134H1Q48   | Laboratory Corp of America Holdings          | CUSIP: 50540RAX0<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |    500000 | PA      | $491739.76    | 1.96%             | 2026-06-01      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| 553530106   | MSC Industrial Direct Co Inc                 | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |      1820 | NS      | $167694.80    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| 680223AK0   | Nelnet Inc                                   | CUSIP: 64031N108<br>LEI: 549300T6B0Q52I6OM558 | Long             | EC               | CORP              | US        |      4500 | NS      | $564210.00    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66 | Phillips 66                                  | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      6300 | NS      | $856926.00    | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| 11271J107   | Federal Home Loan Banks                      | CUSIP: 3130B5BV9<br>LEI: 2549001DPIFGXC1TOL40 | Long             | SN               | USGSE             | US        |         0 | PA      | $0.00         | 0.00%             | 2030-02-21      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| 084670108   | Lowe's Cos Inc                               | CUSIP: 548661DH7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2025-09-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| 084670702   | United States Treasury Note/Bond             | CUSIP: 91282CHB0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |         0 | PA      | $0.00         | 0.00%             | 2026-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Managed Portfolio Series

**Signature:** /s/ Benjamin Eirich

**Name of Signer:** Managed Portfolio Series

**Title:** Treasurer