# EDGAR Filing Document

**Accession Number:** 0001511699
**File Stem:** 0000894189-25-005881
**Filing Date:** 2025-8
**Character Count:** 49211
**Document Hash:** f17b105127e3bc0b9f524f18061cbb23
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-005881.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0000894189-25-005881

**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:** 251256650

**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 Grizzly Short Fund (Series ID: S000083371)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000246973 | Leuthold Grizzly Short Fund | GRZZX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Leuthold Grizzly Short Fund** | **Leuthold Grizzly Short Fund** | **Leuthold Grizzly Short Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **SHORT-TERM INVESTMENTS - 18.6%** | | **Value**  |
| **U.S. Treasury Bills - 18.6%** | **<u>Par</u>** | |
| 4.21%, 07/22/2025 <sup>(a)</sup> | 7000000 | $6982972 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $6,982,972) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $6,982,972) | 6982972 |
| **TOTAL INVESTMENTS - 18.6% (**Cost $6,982,972**)** | **TOTAL INVESTMENTS - 18.6% (**Cost $6,982,972**)** | 6982972 |
| Money Market Deposit Account - 77.2% <sup>(b)</sup> | Money Market Deposit Account - 77.2% <sup>(b)</sup> | 29031005 |
| Other Assets in Excess of Liabilities - 4.2% | Other Assets in Excess of Liabilities - 4.2% | 1614889 |
| **TOTAL NET ASSETS - 100.0%** |  | $37628866 |
| 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) The rate shown is the annualized effective yield as of June 30, 2025.

(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%.

---

| | | |
|:---|:---|:---|
| **Leuthold Grizzly Short Fund** | **Leuthold Grizzly Short Fund** | **Leuthold Grizzly Short Fund** |
| **Schedule of Securities Sold Short** | **Schedule of Securities Sold Short** | **Schedule of Securities Sold Short** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **COMMON STOCKS** - **(66.2)%** | **Shares** | **Value** |
| **Aerospace & Defense - (3.9)%** | **Aerospace & Defense - (3.9)%** | |
| AAR Corp. | (3231) | $(222260) |
| Boeing Co. | (2524) | (528854) |
| Spirit AeroSystems Holdings, Inc. - Class A | (6359) | (242596) |
| TransDigm Group, Inc. | (305) | (463795) |
|  |  | (1457505) |
| **Automobiles - (1.3)%** | **Automobiles - (1.3)%** |  |
| Tesla, Inc. | (1508) | (479031) |
| **Banks - (0.7)%** | **Banks - (0.7)%** |  |
| Triumph Financial, Inc. | (4620) | (254608) |
| **Beverages - (1.4)%** | **Beverages - (1.4)%** |  |
| Brown-Forman Corp. - Class B | (8374) | (225344) |
| PepsiCo, Inc. | (2419) | (319405) |
|  |  | (544749) |
| **Building Products - (1.0)%** | **Building Products - (1.0)%** |  |
| AAON, Inc. | (3124) | (230395) |
| Trex Co., Inc. | (2740) | (149001) |
|  |  | (379396) |
| **Capital Markets - (8.1)%** | **Capital Markets - (8.1)%** |  |
| Ares Management Corp. - Class A | (1949) | (337567) |
| Blackstone, Inc. | (3136) | (469083) |
| Blue Owl Capital, Inc. - Class A | (9973) | (191581) |
| Cohen & Steers, Inc. | (2823) | (212713) |
| FactSet Research Systems, Inc. | (484) | (216484) |
| Hamilton Lane, Inc. - Class A | (1275) | (181203) |
| MarketAxess Holdings, Inc. | (1142) | (255054) |
| Moody's Corp. | (808) | (405285) |
| MSCI, Inc. | (837) | (482731) |
| TPG, Inc. | (5380) | (282181) |
|  |  | (3033882) |
| **Chemicals - (3.5)%** | **Chemicals - (3.5)%** |  |
| Albemarle Corp. | (3649) | (228683) |
| International Flavors & Fragrances, Inc. | (4576) | (336565) |
| Linde PLC | (822) | (385666) |
| Stepan Co. | (2322) | (126735) |
| Westlake Corp. | (3338) | (253454) |
|  |  | (1331103) |
| **Commercial Services & Supplies - (1.1)%** | **Commercial Services & Supplies - (1.1)%** |  |
| Casella Waste Systems, Inc. - Class A | (1673) | (193031) |
| VSE Corp. | (1721) | (225416) |
|  |  | (418447) |
| **Construction Materials - (1.2)%** | **Construction Materials - (1.2)%** |  |
| Vulcan Materials Co. | (1716) | (447567) |
| **Containers & Packaging - (1.3)%** | **Containers & Packaging - (1.3)%** |  |
| Smurfit WestRock PLC | (7249) | (312794) |
| Sonoco Products Co. | (4282) | (186524) |
|  |  | (499318) |
| **Distributors - (0.9)%** | **Distributors - (0.9)%** |  |
| Pool Corp. | (1133) | (330247) |
| **Electric Utilities - (0.5)%** | **Electric Utilities - (0.5)%** |  |
| Eversource Energy | (3196) | (203330) |
| **Electrical Equipment - (2.4)%** | **Electrical Equipment - (2.4)%** |  |
| Eaton Corp PLC | (1150) | (410538) |
| Rockwell Automation, Inc. | (1504) | (499584) |
|  |  | (910122) |
| **Financial Services - (0.4)%** | **Financial Services - (0.4)%** |  |
| Walker & Dunlop, Inc. | (1916) | (135040) |
| **Ground Transportation - (2.6)%** | **Ground Transportation - (2.6)%** |  |
| Knight-Swift Transportation Holdings, Inc. | (3802) | (168162) |
| Marten Transport Ltd. | (11817) | (153503) |
| Old Dominion Freight Line, Inc. | (2019) | (327684) |
| Saia, Inc. | (431) | (118090) |
| Werner Enterprises, Inc. | (7993) | (218688) |
|  |  | (986127) |
| **Health Care Equipment & Supplies - (2.8)%** | **Health Care Equipment & Supplies - (2.8)%** |  |
| Baxter International, Inc. | (5669) | (171657) |
| Edwards Lifesciences Corp. | (5671) | (443529) |
| Stryker Corp. | (1127) | (445875) |
|  |  | (1061061) |
| **Hotels, Restaurants & Leisure - (5.3)%** | **Hotels, Restaurants & Leisure - (5.3)%** |  |
| Caesars Entertainment, Inc. | (5881) | (166962) |
| Chipotle Mexican Grill, Inc. | (8048) | (451895) |
| DraftKings, Inc. - Class A | (11238) | (481998) |
| First Watch Restaurant Group, Inc. | (10142) | (162678) |
| Red Rock Resorts, Inc. - Class A | (3808) | (198130) |
| Restaurant Brands International, Inc. | (5893) | (390647) |
| Vail Resorts, Inc. | (923) | (145031) |
|  |  | (1997341) |
| **Household Durables - (0.6)%** | **Household Durables - (0.6)%** |  |
| Installed Building Products, Inc. | (1238) | (223236) |
| **Household Products - (1.0)%** | **Household Products - (1.0)%** |  |
| Clorox Co. | (3109) | (373298) |
| **Independent Power and Renewable Electricity Producers - (0.5)%** | **Independent Power and Renewable Electricity Producers - (0.5)%** |  |
| Ormat Technologies, Inc. | (2419) | (202615) |
| **Insurance - (2.8)%** | **Insurance - (2.8)%** |  |
| Erie Indemnity Co. - Class A | (973) | (337427) |
| Marsh & McLennan Companies, Inc. | (2061) | (450617) |
| Ryan Specialty Holdings, Inc. | (3810) | (259042) |
|  |  | (1047086) |
| **IT Services - (0.7)%** | **IT Services - (0.7)%** |  |
| MongoDB, Inc. | (1189) | (249678) |
| **Life Sciences Tools & Services - (1.2)%** | **Life Sciences Tools & Services - (1.2)%** |  |
| Bio-Techne Corp. | (2454) | (126258) |
| Bruker Corp. | (3262) | (134394) |
| Repligen Corp. | (1436) | (178610) |
|  |  | (439262) |
| **Machinery - (3.7)%** | **Machinery - (3.7)%** |  |
| IDEX Corp. | (1817) | (319011) |
| Ingersoll Rand, Inc. | (4626) | (384791) |
| Stanley Black & Decker, Inc. | (4117) | (278927) |
| Xylem, Inc./NY | (3060) | (395841) |
|  |  | (1378570) |
| **Metals & Mining - (0.9)%** | **Metals & Mining - (0.9)%** |  |
| Worthington Industries, Inc. | (5129) | (326410) |
| **Multi-Utilities - (1.0)%** | **Multi-Utilities - (1.0)%** |  |
| Dominion Energy, Inc. | (6645) | (375575) |
| **Oil, Gas & Consumable Fuels - (1.0)%** | **Oil, Gas & Consumable Fuels - (1.0)%** |  |
| Phillips 66 | (3282) | (391543) |
| **Pharmaceuticals - (1.1)%** | **Pharmaceuticals - (1.1)%** |  |
| Eli Lilly & Co. | (515) | (401458) |
| **Professional Services - (2.4)%** | **Professional Services - (2.4)%** |  |
| CBIZ, Inc. | (2804) | (201075) |
| Dayforce, Inc. | (3214) | (178023) |
| Equifax, Inc. | (1343) | (348334) |
| Exponent, Inc. | (2438) | (182143) |
|  |  | (909575) |
| **Real Estate - (1.5)%** | **Real Estate - (1.5)%** |  |
| Invitation Homes, Inc. | (12075) | (396060) |
| Rexford Industrial Realty, Inc. | (4238) | (150746) |
|  |  | (546806) |
| **Real Estate Management & Development - (1.1)%** | **Real Estate Management & Development - (1.1)%** |  |
| CoStar Group, Inc. | (5009) | (402724) |
| **Semiconductors & Semiconductor Equipment - (3.7)%** | **Semiconductors & Semiconductor Equipment - (3.7)%** |  |
| Advanced Micro Devices, Inc. | (2643) | (375042) |
| Analog Devices, Inc. | (1698) | (404158) |
| ARM Holdings PLC - ADR | (2856) | (461929) |
| Power Integrations, Inc. | (2963) | (165632) |
|  |  | (1406761) |
| **Software - (2.2)%** | **Software - (2.2)%** |  |
| Datadog, Inc. - Class A | (4074) | (547260) |
| Varonis Systems, Inc. | (5864) | (297598) |
|  |  | (844858) |
| **Specialty Retail - (2.0)%** | **Specialty Retail - (2.0)%** |  |
| Boot Barn Holdings, Inc. | (1203) | (182856) |
| Floor & Decor Holdings, Inc. - Class A | (1706) | (129588) |
| Tractor Supply Co. | (8151) | (430128) |
|  |  | (742572) |
| **Trading Companies & Distributors - (0.4)%** | **Trading Companies & Distributors - (0.4)%** |  |
| SiteOne Landscape Supply, Inc. | (1368) | (165446) |
| **TOTAL COMMON STOCKS** (Proceeds $25,396,229) | **TOTAL COMMON STOCKS** (Proceeds $25,396,229) | (24896347) |
| **EXCHANGE TRADED FUNDS - (31.1)%** | **Shares** | **Value** |
| Invesco QQQ Trust Series 1 | (3276) | (1807173) |
| iShares S&P 500 Growth ETF | (22820) | (2512482) |
| iShares Semiconductor ETF | (7249) | (1730336) |
| iShares U.S. Transportation ETF | (12792) | (876764) |
| Real Estate Select Sector SPDR Fund | (12258) | (507726) |
| SPDR S&P 500 ETF Trust | (5312) | (3282019) |
| SPDR S&P Retail ETF | (12983) | (1000470) |
| **TOTAL EXCHANGE TRADED FUNDS** (Proceeds $10,590,693) | **TOTAL EXCHANGE TRADED FUNDS** (Proceeds $10,590,693) | (11716970) |
| **REAL ESTATE INVESTMENT TRUSTS - COMMON** - **(1.1)%** | **Shares** | **Value** |
| **Specialized REITs - (1.1)%** | **Specialized REITs - (1.1)%** |  |
| Iron Mountain, Inc. | (3989) | (409152) |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Proceeds $388,226) | **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Proceeds $388,226) | (409152) |
| **TOTAL SECURITIES SOLD SHORT - (98.4)%** (Proceeds $36,375,148) |  | $(37022469) |
| 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 |

---

------

#### <br>

#### Summary of Fair Value Disclosure as of June 30, 2025 (Unaudited)
Leuthold Grizzly Short 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 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;U.S. Treasury Bills | $– | 6982972 |  | $6982972 |
| Total Investments | $– | 6982972 |  | $6982972 |
| **Liabilities:** |  |  |  |  |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $(24896347) | – |  | $(24896347) |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | (11716970) | – |  | (11716970) |
| &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts - Common | (409152) | – |  | (409152) |
| Total Investments | $(37022469) | – |  | $(37022469) |
| 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 Grizzly Short Fund

- **b. EDGAR series identifier (if any):** S000083371

- **c. LEI of Series:** 52990052EUR0V5CQKM02

**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:** $74866981.45

**Total Liabilities:** $37283204.26

**Net Assets:** $37583777.19

**Cash Not Reported:** $38372948.06

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000246973 | 1.57%                | -5.16%               | -3.58%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $785058.56               | $-107008.39                                |
| Month 2  | $-758729.31              | $-1567716.27                               |
| Month 3  | $-347823.48              | $-1221893.20                               |

**Designated Index Information**

- **Index Name:** S&P 500 Total Return Index

- **Index Identifier:** SPTR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| iShares U.S. Transportation ET | iShares U.S. Transportation ETF          | CUSIP: 464287192<br>LEI: 54930060GGS23N7A3X92 | Short            | EC               | RF                | US        |    -12792 | NS      | $-876763.68   | -2.33%            |  |  |  | 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        |    -22820 | NS      | $-2512482.00  | -6.69%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Semiconductor ETF      | iShares Semiconductor ETF                | CUSIP: 464287523<br>LEI: 5493004SPI3IF1GDIR85 | Short            | EC               | RF                | US        |     -7249 | NS      | $-1730336.30  | -4.60%            |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho | Knight-Swift Transportation Holdings Inc | CUSIP: 499049104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3802 | NS      | $-168162.46   | -0.45%            |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                       | MSCI Inc                                 | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Short            | EC               | CORP              | US        |      -837 | NS      | $-482731.38   | -1.28%            |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc       | MarketAxess Holdings Inc                 | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Short            | EC               | CORP              | US        |     -1142 | NS      | $-255054.28   | -0.68%            |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc       | Marsh & McLennan Cos Inc                 | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Short            | EC               | CORP              | US        |     -2061 | NS      | $-450617.04   | -1.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Marten Transport Ltd           | Marten Transport Ltd                     | CUSIP: 573075108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -11817 | NS      | $-153502.83   | -0.41%            |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc                    | MongoDB Inc                              | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Short            | EC               | CORP              | US        |     -1189 | NS      | $-249678.11   | -0.66%            |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                   | Moody's Corp                             | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Short            | EC               | CORP              | US        |      -808 | NS      | $-405284.72   | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc  | Old Dominion Freight Line Inc            | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Short            | EC               | CORP              | US        |     -2019 | NS      | $-327683.70   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies Inc         | Ormat Technologies Inc                   | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Short            | EC               | CORP              | US        |     -2419 | NS      | $-202615.44   | -0.54%            |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                    | PepsiCo Inc                              | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Short            | EC               | CORP              | US        |     -2419 | NS      | $-319404.76   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| 478160104                      | Phillips 66                              | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Short            | EC               | CORP              | US        |     -3282 | NS      | $-391542.60   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                      | Pool Corp                                | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Short            | EC               | CORP              | US        |     -1133 | NS      | $-330246.84   | -0.88%            |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc         | Power Integrations Inc                   | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Short            | EC               | CORP              | US        |     -2963 | NS      | $-165631.70   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Red Rock Resorts Inc           | Red Rock Resorts Inc                     | CUSIP: 75700L108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3808 | NS      | $-198130.24   | -0.53%            |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corp                  | Repligen Corp                            | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Short            | EC               | CORP              | US        |     -1436 | NS      | $-178609.68   | -0.48%            |  |  |  | No            |                  1 | On Loan: No      |
| Restaurant Brands Internationa | Restaurant Brands International Inc      | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Short            | EC               | CORP              | CA        |     -5893 | NS      | $-390646.97   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc  | Rexford Industrial Realty Inc            | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Short            | EC               | CORP              | US        |     -4238 | NS      | $-150745.66   | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc        | Rockwell Automation Inc                  | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Short            | EC               | CORP              | US        |     -1504 | NS      | $-499583.68   | -1.33%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust         | SPDR S&P 500 ETF Trust                   | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Short            | EC               | RF                | US        |     -5312 | NS      | $-3282019.20  | -8.73%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P Retail ETF            | SPDR S&P Retail ETF                      | CUSIP: 78464A714<br>LEI: 549300HHG63HQV071458 | Short            | EC               | RF                | US        |    -12983 | NS      | $-1000469.98  | -2.66%            |  |  |  | No            |                  1 | On Loan: No      |
| Real Estate Select Sector SPDR | Real Estate Select Sector SPDR Fund      | CUSIP: 81369Y860<br>LEI: 549300SPMSTD3BRHL041 | Short            | EC               | RF                | US        |    -12258 | NS      | $-507726.36   | -1.35%            |  |  |  | No            |                  1 | On Loan: No      |
| Sonoco Products Co             | Sonoco Products Co                       | CUSIP: 835495102<br>LEI: GKOMIK4RDJGHEF0VNP11 | Short            | EC               | CORP              | US        |     -4282 | NS      | $-186523.92   | -0.50%            |  |  |  | No            |                  1 | On Loan: No      |
| Spirit AeroSystems Holdings In | Spirit AeroSystems Holdings Inc          | CUSIP: 848574109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -6359 | NS      | $-242595.85   | -0.65%            |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc     | Stanley Black & Decker Inc               | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Short            | EC               | CORP              | US        |     -4117 | NS      | $-278926.75   | -0.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Stepan Co                      | Stepan Co                                | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Short            | EC               | CORP              | US        |     -2322 | NS      | $-126734.76   | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                   | Stryker Corp                             | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Short            | EC               | CORP              | US        |     -1127 | NS      | $-445875.01   | -1.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                      | Linde PLC                                | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Short            | EC               | CORP              | US        |      -822 | NS      | $-385665.96   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc    | Ryan Specialty Holdings Inc              | CUSIP: 78351F107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3810 | NS      | $-259041.90   | -0.69%            |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                       | Saia Inc                                 | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Short            | EC               | CORP              | US        |      -431 | NS      | $-118089.69   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| SiteOne Landscape Supply Inc   | SiteOne Landscape Supply Inc             | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Short            | EC               | CORP              | US        |     -1368 | NS      | $-165445.92   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Smurfit WestRock PLC           | Smurfit WestRock PLC                     | CUSIP: N/A<br>LEI: 635400EGSEOPDW2EXS14       | Short            | EC               | CORP              | IE        |     -7249 | NS      | $-312794.35   | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| AAON Inc                       | AAON Inc                                 | CUSIP: 000360206<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3124 | NS      | $-230395.00   | -0.61%            |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp                       | AAR Corp                                 | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Short            | EC               | CORP              | US        |     -3231 | NS      | $-222260.49   | -0.59%            |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices Inc               | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Short            | EC               | CORP              | US        |     -2643 | NS      | $-375041.70   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp                 | Albemarle Corp                           | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Short            | EC               | CORP              | US        |     -3649 | NS      | $-228682.83   | -0.61%            |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc             | Analog Devices Inc                       | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Short            | EC               | CORP              | US        |     -1698 | NS      | $-404157.96   | -1.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corp           | Ares Management Corp                     | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Short            | EC               | CORP              | US        |     -1949 | NS      | $-337566.80   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| ARM Holdings PLC               | ARM Holdings PLC                         | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Short            | EC               | CORP              | GB        |     -2856 | NS      | $-461929.44   | -1.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc       | Baxter International Inc                 | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Short            | EC               | CORP              | US        |     -5669 | NS      | $-171657.32   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                | Bio-Techne Corp                          | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Short            | EC               | CORP              | US        |     -2454 | NS      | $-126258.30   | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| TPG Inc                        | TPG Inc                                  | CUSIP: 872657101<br>LEI: 549300NLO4R8MX77XJ02 | Short            | EC               | CORP              | US        |     -5380 | NS      | $-282181.00   | -0.75%            |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla Inc                                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Short            | EC               | CORP              | US        |     -1508 | NS      | $-479031.28   | -1.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Tractor Supply Co              | Tractor Supply Co                        | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Short            | EC               | CORP              | US        |     -8151 | NS      | $-430128.27   | -1.14%            |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group Inc            | TransDigm Group Inc                      | CUSIP: 893641100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -305 | NS      | $-463795.20   | -1.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Exponent Inc                   | Exponent Inc                             | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Short            | EC               | CORP              | US        |     -2438 | NS      | $-182142.98   | -0.48%            |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc   | FactSet Research Systems Inc             | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Short            | EC               | CORP              | US        |      -484 | NS      | $-216483.52   | -0.58%            |  |  |  | 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        |    -10142 | NS      | $-162677.68   | -0.43%            |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc     | Floor & Decor Holdings Inc               | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Short            | EC               | CORP              | US        |     -1706 | NS      | $-129587.76   | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Lane Inc              | Hamilton Lane Inc                        | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Short            | EC               | CORP              | US        |     -1275 | NS      | $-181203.00   | -0.48%            |  |  |  | No            |                  1 | On Loan: No      |
| IDEX Corp                      | IDEX Corp                                | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Short            | EC               | CORP              | US        |     -1817 | NS      | $-319010.69   | -0.85%            |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc             | Ingersoll Rand Inc                       | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Short            | EC               | CORP              | US        |     -4626 | NS      | $-384790.68   | -1.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products In | Installed Building Products Inc          | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Short            | EC               | CORP              | US        |     -1238 | NS      | $-223236.16   | -0.59%            |  |  |  | No            |                  1 | On Loan: No      |
| IFF                            | International Flavors & Fragrances Inc   | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Short            | EC               | CORP              | US        |     -4576 | NS      | $-336564.80   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust Series 1     | Invesco QQQ Trust Series 1               | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Short            | EC               | RF                | US        |     -3276 | NS      | $-1807172.64  | -4.81%            |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc           | Invitation Homes Inc                     | CUSIP: 46187W107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -12075 | NS      | $-396060.00   | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc              | Iron Mountain Inc                        | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Short            | EC               | CORP              | US        |     -3989 | NS      | $-409151.73   | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Brown-Forman Corp              | Brown-Forman Corp                        | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Short            | EC               | CORP              | US        |     -8374 | NS      | $-225344.34   | -0.60%            |  |  |  | No            |                  1 | On Loan: No      |
| 832696AK4                      | Bruker Corp                              | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Short            | EC               | CORP              | US        |     -3262 | NS      | $-134394.40   | -0.36%            |  |  |  | No            |                  1 | On Loan: No      |
| CBIZ Inc                       | CBIZ Inc                                 | CUSIP: 124805102<br>LEI: 529900D5X8CFM8O1N813 | Short            | EC               | CORP              | US        |     -2804 | NS      | $-201074.84   | -0.54%            |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc      | Caesars Entertainment Inc                | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Short            | EC               | CORP              | US        |     -5881 | NS      | $-166961.59   | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc      | Casella Waste Systems Inc                | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Short            | EC               | CORP              | US        |     -1673 | NS      | $-193030.74   | -0.51%            |  |  |  | No            |                  1 | On Loan: No      |
| Dayforce Inc                   | Dayforce Inc                             | CUSIP: 15677J108<br>LEI: 549300T64GVCHFJ8L449 | Short            | EC               | CORP              | US        |     -3214 | NS      | $-178023.46   | -0.47%            |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc     | Chipotle Mexican Grill Inc               | CUSIP: 169656105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -8048 | NS      | $-451895.20   | -1.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Clorox Co/The                  | Clorox Co/The                            | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Short            | EC               | CORP              | US        |     -3109 | NS      | $-373297.63   | -0.99%            |  |  |  | No            |                  1 | On Loan: No      |
| Cohen & Steers Inc             | Cohen & Steers Inc                       | CUSIP: 19247A100<br>LEI: 549300XXIA338A0X2K65 | Short            | EC               | CORP              | US        |     -2823 | NS      | $-212713.05   | -0.57%            |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc               | CoStar Group Inc                         | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Short            | EC               | CORP              | US        |     -5009 | NS      | $-402723.60   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                    | Datadog Inc                              | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Short            | EC               | CORP              | US        |     -4074 | NS      | $-547260.42   | -1.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc            | Dominion Energy Inc                      | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Short            | EC               | CORP              | US        |     -6645 | NS      | $-375575.40   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc                 | DraftKings Inc                           | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Short            | EC               | CORP              | US        |    -11238 | NS      | $-481997.82   | -1.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp      | Edwards Lifesciences Corp                | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Short            | EC               | CORP              | US        |     -5671 | NS      | $-443528.91   | -1.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                    | Equifax Inc                              | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Short            | EC               | CORP              | US        |     -1343 | NS      | $-348333.91   | -0.93%            |  |  |  | No            |                  1 | On Loan: No      |
| Erie Indemnity Co              | Erie Indemnity Co                        | CUSIP: 29530P102<br>LEI: 549300WA5KP94KRUFZ80 | Short            | EC               | CORP              | US        |      -973 | NS      | $-337426.67   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy              | Eversource Energy                        | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Short            | EC               | CORP              | US        |     -3196 | NS      | $-203329.52   | -0.54%            |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                           | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Short            | EC               | CORP              | US        |      -515 | NS      | $-401457.95   | -1.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                 | Eaton Corp PLC                           | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Short            | EC               | CORP              | IE        |     -1150 | NS      | $-410538.50   | -1.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                 | Blackstone Inc                           | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Short            | EC               | CORP              | US        |     -3136 | NS      | $-469082.88   | -1.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Blue Owl Capital Inc           | Blue Owl Capital Inc                     | CUSIP: 09581B103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -9973 | NS      | $-191581.33   | -0.51%            |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                  | Boeing Co/The                            | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Short            | EC               | CORP              | US        |     -2524 | NS      | $-528853.72   | -1.41%            |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc         | Boot Barn Holdings Inc                   | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Short            | EC               | CORP              | US        |     -1203 | NS      | $-182856.00   | -0.49%            |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                    | Trex Co Inc                              | CUSIP: 89531P105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -2740 | NS      | $-149001.20   | -0.40%            |  |  |  | No            |                  1 | On Loan: No      |
| Triumph Financial Inc          | Triumph Financial Inc                    | CUSIP: 89679E300<br>LEI: 5493003RNRMEVYDZ1Q52 | Short            | EC               | CORP              | US        |     -4620 | NS      | $-254608.20   | -0.68%            |  |  |  | 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        |  29147218 | NS      | $29147217.90  | 77.55%            | 2037-09-01      | Variable      | 4.54%                 | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill              | CUSIP: 912797QB6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $6982972.49   | 18.58%            | 2025-07-22      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| VSE Corp                       | VSE Corp                                 | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Short            | EC               | CORP              | US        |     -1721 | NS      | $-225416.58   | -0.60%            |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts Inc               | Vail Resorts Inc                         | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Short            | EC               | CORP              | US        |      -923 | NS      | $-145030.99   | -0.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Varonis Systems Inc            | Varonis Systems Inc                      | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Short            | EC               | CORP              | US        |     -5864 | NS      | $-297598.00   | -0.79%            |  |  |  | No            |                  1 | On Loan: No      |
| 159864107                      | Vulcan Materials Co                      | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Short            | EC               | CORP              | US        |     -1716 | NS      | $-447567.12   | -1.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Walker & Dunlop Inc            | Walker & Dunlop Inc                      | CUSIP: 93148P102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -1916 | NS      | $-135039.68   | -0.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Werner Enterprises Inc         | Werner Enterprises Inc                   | CUSIP: 950755108<br>LEI: 549300P6XRGOCHHJST37 | Short            | EC               | CORP              | US        |     -7993 | NS      | $-218688.48   | -0.58%            |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                  | Westlake Corp                            | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Short            | EC               | CORP              | US        |     -3338 | NS      | $-253454.34   | -0.67%            |  |  |  | No            |                  1 | On Loan: No      |
| Worthington Enterprises Inc    | Worthington Enterprises Inc              | CUSIP: 981811102<br>LEI: 1WRCIANKYOIK6KYE5E82 | Short            | EC               | CORP              | US        |     -5129 | NS      | $-326409.56   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Xylem Inc/NY                   | Xylem Inc/NY                             | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Short            | EC               | CORP              | US        |     -3060 | NS      | $-395841.60   | -1.05%            |  |  |  | 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