NPORT-P false 0001359057 XXXXXXXX S000086569 C000252157 Manager Directed Portfolios 811-21897 0001359057 549300WAC9XE08QLVP90 615 E. Michigan Street Milwaukee 53202 4145163123 Twin Oak Short Horizon Absolute Return ETF S000086569 529900GLQ86Q1YT9R717 2026-05-31 2026-02-28 N 78173409.190000000000 12547.360000000000 78160861.830000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 N N/A N/A N/A 668.000000000000 NC USD 39148500.720000000000 50.0870893736 N/A DE US N 2 Chicago Board Options Exchange 529900RLNSGA90UPEH54 Call Purchased Invesco QQQ Trust Series 1 Invesco QQQ Trust Series 1 100.000000000000 20.010000000000 USD 2026-04-17 XXXX -1092949.410000000000 N N N N/A N/A N/A 668.000000000000 NC USD 27285448.640000000000 34.9093497707 N/A DE US N 2 Chicago Board Options Exchange 529900RLNSGA90UPEH54 Put Purchased Invesco QQQ Trust Series 1 Invesco QQQ Trust Series 1 100.000000000000 1020.010000000000 USD 2026-04-17 XXXX 1316604.510000000000 N N N N/A N/A N/A 117.000000000000 NC USD 7771710.960000000000 9.9432257757 N/A DE US N 2 Chicago Board Options Exchange 529900RLNSGA90UPEH54 Call Purchased State Street SPDR S&P 500 ETF State Street SPDR S&P 500 ETF Trust 100.000000000000 20.010000000000 USD 2026-04-17 XXXX 9580.590000000000 N N N N/A N/A N/A 117.000000000000 NC USD 3864339.180000000000 4.9440846602 N/A DE US N 2 Chicago Board Options Exchange 529900RLNSGA90UPEH54 Put Purchased State Street SPDR S&P 500 ETF State Street SPDR S&P 500 ETF Trust 100.000000000000 1020.010000000000 USD 2026-04-17 XXXX 78510.810000000000 N N N U.S. Bank Money Market Deposit Account N/A 8AMMF0A84 103173.330000000000 NS USD 103173.330000000000 0.1320012697 Long STIV RF US N 1 N N N 2026-04-20 Manager Directed Portfolios /s/ Scott Ostrowski Scott Ostrowski Vice President XXXX