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    <link:label id="lab_ck0001511699_ShortSaleRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_ShortSaleRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Short Sale Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_ShortSaleRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_ShortSaleRiskMember"/>
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    <link:label id="lab_ck0001511699_LimitedHistoryOfOperationsRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_LimitedHistoryOfOperationsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Limited History Of Operations Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_LimitedHistoryOfOperationsRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_LimitedHistoryOfOperationsRiskMember"/>
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    <link:label id="lab_ck0001511699_C000234792Member_label_en-US" xlink:label="lab_ck0001511699_C000234792Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kensington Active Advantage Fund Institutional Class Shares</link:label>
    <link:label id="lab_ck0001511699_C000234792Member_documentation_en-US" xlink:label="lab_ck0001511699_C000234792Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Kensington Active Advantage Fund Institutional Class Shares, C000234792, KADIX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_C000234792Member" xlink:href="ck0001511699-20260429.xsd#ck0001511699_C000234792Member"/>
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    <link:label id="lab_ck0001511699_C000271021Member_label_en-US" xlink:label="lab_ck0001511699_C000271021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kensington Defender Fund Class R</link:label>
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    <link:label id="lab_ck0001511699_DerivativesRiskSwapAgreementsRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_DerivativesRiskSwapAgreementsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivatives Risk, Swap Agreements Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_DerivativesRiskSwapAgreementsRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_DerivativesRiskSwapAgreementsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_DerivativesRiskSwapAgreementsRiskMember" xlink:to="lab_ck0001511699_DerivativesRiskSwapAgreementsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_S000080512Member_label_en-US" xlink:label="lab_ck0001511699_S000080512Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kensington Defender Fund</link:label>
    <link:label id="lab_ck0001511699_S000080512Member_documentation_en-US" xlink:label="lab_ck0001511699_S000080512Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">S000080512 Kensington Defender Fund C000242963 Institutional Class DFNDX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_S000080512Member" xlink:href="ck0001511699-20260429.xsd#ck0001511699_S000080512Member"/>
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    <link:label id="lab_ck0001511699_C000234789Member_label_en-US" xlink:label="lab_ck0001511699_C000234789Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kensington Dynamic Allocation Fund Class C Shares</link:label>
    <link:label id="lab_ck0001511699_C000234789Member_documentation_en-US" xlink:label="lab_ck0001511699_C000234789Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">S000075576 Kensington Dynamic Growth Fund C000234789 Class C Shares KAGCX C000234790 Institutional Class Shares KAGIX C000234791 Class A Shares KAGAX</link:label>
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    <link:label id="lab_ck0001511699_TaxRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_TaxRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax Risk Member</link:label>
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    <link:label id="lab_ck0001511699_ModelsAndDataRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_ModelsAndDataRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Models And Data Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_ModelsAndDataRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_ModelsAndDataRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_ModelsAndDataRiskMember" xlink:to="lab_ck0001511699_ModelsAndDataRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_C000234786Member_label_en-US" xlink:label="lab_ck0001511699_C000234786Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kensington Managed Income Fund Institutional Class Shares</link:label>
    <link:label id="lab_ck0001511699_C000234786Member_documentation_en-US" xlink:label="lab_ck0001511699_C000234786Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">S000075575 Kensington Managed Income Fund C000234786 Institutional Class Shares KAMIX C000234787 Class C Shares KAMCX C000234788 Class A Shares KAMAX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_C000234786Member" xlink:href="ck0001511699-20260429.xsd#ck0001511699_C000234786Member"/>
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    <link:label id="lab_ck0001511699_FixedIncomeSecuritiesRisksPrepaymentAndExtensionRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_FixedIncomeSecuritiesRisksPrepaymentAndExtensionRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed-Income Securities Risks, Prepayment And Extension Risk Member</link:label>
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    <link:label id="lab_ck0001511699_ClassRProspectusMember_documentation_en-US" xlink:label="lab_ck0001511699_ClassRProspectusMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class R Prospectus Member</link:label>
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    <link:label id="lab_ck0001511699_DerivativesRiskOptionsRiskMember_label_en-US" xlink:label="lab_ck0001511699_DerivativesRiskOptionsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives Risk, Options Risk Member</link:label>
    <link:label id="lab_ck0001511699_DerivativesRiskOptionsRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_DerivativesRiskOptionsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivatives Risk, Options Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_DerivativesRiskOptionsRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_DerivativesRiskOptionsRiskMember"/>
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    <link:label id="lab_ck0001511699_MorningstarGlobal6040NRReflectsNoDeductionForFeesExpensesOrTaxesIndexMember_label_en-US" xlink:label="lab_ck0001511699_MorningstarGlobal6040NRReflectsNoDeductionForFeesExpensesOrTaxesIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Morningstar Global 60/40 NR (reflects no deduction for fees, expenses, or taxes)</link:label>
    <link:label id="lab_ck0001511699_MorningstarGlobal6040NRReflectsNoDeductionForFeesExpensesOrTaxesIndexMember_documentation_en-US" xlink:label="lab_ck0001511699_MorningstarGlobal6040NRReflectsNoDeductionForFeesExpensesOrTaxesIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Morningstar Global 60/40 NR (reflects no deduction for fees, expenses, or taxes)</link:label>
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    <link:label id="lab_ck0001511699_FixedIncomeSecuritiesRiskMember_label_en-US" xlink:label="lab_ck0001511699_FixedIncomeSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed-Income Securities Risk Member</link:label>
    <link:label id="lab_ck0001511699_FixedIncomeSecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_FixedIncomeSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed-Income Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_FixedIncomeSecuritiesRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_FixedIncomeSecuritiesRiskMember"/>
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    <link:label id="lab_ck0001511699_S000075577Member_label_en-US" xlink:label="lab_ck0001511699_S000075577Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kensington Active Advantage Fund</link:label>
    <link:label id="lab_ck0001511699_S000075577Member_documentation_en-US" xlink:label="lab_ck0001511699_S000075577Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">S000075577 Kensington Active Advantage Fund C000234792 Institutional Class Shares KADIX C000234793 Class C Shares KADCX C000234794 Class A Shares KADAX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_S000075577Member" xlink:href="ck0001511699-20260429.xsd#ck0001511699_S000075577Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_S000075577Member" xlink:to="lab_ck0001511699_S000075577Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_RealEstateAndREITsRiskMember_label_en-US" xlink:label="lab_ck0001511699_RealEstateAndREITsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate And REITs Risk Member</link:label>
    <link:label id="lab_ck0001511699_RealEstateAndREITsRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_RealEstateAndREITsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate And REITs Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_RealEstateAndREITsRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_RealEstateAndREITsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_RealEstateAndREITsRiskMember" xlink:to="lab_ck0001511699_RealEstateAndREITsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_FixedIncomeSecuritiesRisksCallRiskMember_label_en-US" xlink:label="lab_ck0001511699_FixedIncomeSecuritiesRisksCallRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed-Income Securities Risks, Call Risk Member</link:label>
    <link:label id="lab_ck0001511699_FixedIncomeSecuritiesRisksCallRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_FixedIncomeSecuritiesRisksCallRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed-Income Securities Risks, Call Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_FixedIncomeSecuritiesRisksCallRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_FixedIncomeSecuritiesRisksCallRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_FixedIncomeSecuritiesRisksCallRiskMember" xlink:to="lab_ck0001511699_FixedIncomeSecuritiesRisksCallRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_EquitySecuritiesRiskMember_label_en-US" xlink:label="lab_ck0001511699_EquitySecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Securities Risk Member</link:label>
    <link:label id="lab_ck0001511699_EquitySecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_EquitySecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_EquitySecuritiesRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_EquitySecuritiesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_EquitySecuritiesRiskMember" xlink:to="lab_ck0001511699_EquitySecuritiesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_C000234788Member_label_en-US" xlink:label="lab_ck0001511699_C000234788Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kensington Managed Income Fund Class A Shares</link:label>
    <link:label id="lab_ck0001511699_C000234788Member_documentation_en-US" xlink:label="lab_ck0001511699_C000234788Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">S000075575 Kensington Managed Income Fund C000234786 Institutional Class Shares KAMIX C000234787 Class C Shares KAMCX C000234788 Class A Shares KAMAX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_C000234788Member" xlink:href="ck0001511699-20260429.xsd#ck0001511699_C000234788Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_C000234788Member" xlink:to="lab_ck0001511699_C000234788Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_SmallAndMidCapitalizationCompaniesRiskMember_label_en-US" xlink:label="lab_ck0001511699_SmallAndMidCapitalizationCompaniesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Small- And Mid-Capitalization Companies Risk Member</link:label>
    <link:label id="lab_ck0001511699_SmallAndMidCapitalizationCompaniesRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_SmallAndMidCapitalizationCompaniesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Small- And Mid-Capitalization Companies Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_SmallAndMidCapitalizationCompaniesRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_SmallAndMidCapitalizationCompaniesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_SmallAndMidCapitalizationCompaniesRiskMember" xlink:to="lab_ck0001511699_SmallAndMidCapitalizationCompaniesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_FixedIncomeSecuritiesRisksLiquidityRiskMember_label_en-US" xlink:label="lab_ck0001511699_FixedIncomeSecuritiesRisksLiquidityRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed-Income Securities Risks, Liquidity Risk Member</link:label>
    <link:label id="lab_ck0001511699_FixedIncomeSecuritiesRisksLiquidityRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_FixedIncomeSecuritiesRisksLiquidityRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed-Income Securities Risks, Liquidity Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_FixedIncomeSecuritiesRisksLiquidityRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_FixedIncomeSecuritiesRisksLiquidityRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_FixedIncomeSecuritiesRisksLiquidityRiskMember" xlink:to="lab_ck0001511699_FixedIncomeSecuritiesRisksLiquidityRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_MorningstarUSConservativeTargetAllocationNRreflectsnodeductionforfeesexpensesortaxesIndexMember_label_en-US" xlink:label="lab_ck0001511699_MorningstarUSConservativeTargetAllocationNRreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Morningstar US Conservative Target Allocation NR (reflects no deduction for fees, expenses, or taxes)</link:label>
    <link:label id="lab_ck0001511699_MorningstarUSConservativeTargetAllocationNRreflectsnodeductionforfeesexpensesortaxesIndexMember_documentation_en-US" xlink:label="lab_ck0001511699_MorningstarUSConservativeTargetAllocationNRreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Morningstar US Conservative Target Allocation NR (reflects no deduction for fees, expenses, or taxes)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_MorningstarUSConservativeTargetAllocationNRreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_MorningstarUSConservativeTargetAllocationNRreflectsnodeductionforfeesexpensesortaxesIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_MorningstarUSConservativeTargetAllocationNRreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:to="lab_ck0001511699_MorningstarUSConservativeTargetAllocationNRreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_S000075575Member_label_en-US" xlink:label="lab_ck0001511699_S000075575Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kensington Managed Income Fund</link:label>
    <link:label id="lab_ck0001511699_S000075575Member_documentation_en-US" xlink:label="lab_ck0001511699_S000075575Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">S000075575 Kensington Managed Income Fund C000234786 Institutional Class Shares KAMIX C000234787 Class C Shares KAMCX C000234788 Class A Shares KAMAX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_S000075575Member" xlink:href="ck0001511699-20260429.xsd#ck0001511699_S000075575Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_S000075575Member" xlink:to="lab_ck0001511699_S000075575Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember_label_en-US" xlink:label="lab_ck0001511699_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">S&amp;P 500 Total Return Index (reflects no deduction for fees, expenses, or taxes)</link:label>
    <link:label id="lab_ck0001511699_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember_documentation_en-US" xlink:label="lab_ck0001511699_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">S&amp;P 500 Total Return Index (reflects no deduction for fees, expenses, or taxes)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:to="lab_ck0001511699_SP500TotalReturnIndexreflectsnodeductionforfeesexpensesortaxesIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_C000234791Member_label_en-US" xlink:label="lab_ck0001511699_C000234791Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kensington Dynamic Allocation Fund Class A Shares</link:label>
    <link:label id="lab_ck0001511699_C000234791Member_documentation_en-US" xlink:label="lab_ck0001511699_C000234791Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">S000075576 Kensington Dynamic Growth Fund C000234789 Class C Shares KAGCX C000234790 Institutional Class Shares KAGIX C000234791 Class A Shares KAGAX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_C000234791Member" xlink:href="ck0001511699-20260429.xsd#ck0001511699_C000234791Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_C000234791Member" xlink:to="lab_ck0001511699_C000234791Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_A50SP50050BloombergCapitalAggregateBondReflectsNoDeductionForFeesExpensesOrTaxesIndexMember_label_en-US" xlink:label="lab_ck0001511699_A50SP50050BloombergCapitalAggregateBondReflectsNoDeductionForFeesExpensesOrTaxesIndexMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">50% S&amp;P500/50% Bloomberg Capital Aggregate Bond (reflects no deduction for fees, expenses, or taxes)</link:label>
    <link:label id="lab_ck0001511699_A50SP50050BloombergCapitalAggregateBondReflectsNoDeductionForFeesExpensesOrTaxesIndexMember_documentation_en-US" xlink:label="lab_ck0001511699_A50SP50050BloombergCapitalAggregateBondReflectsNoDeductionForFeesExpensesOrTaxesIndexMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">50% S&amp;P500/50% Bloomberg Capital Aggregate Bond (reflects no deduction for fees, expenses, or taxes)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_A50SP50050BloombergCapitalAggregateBondReflectsNoDeductionForFeesExpensesOrTaxesIndexMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_A50SP50050BloombergCapitalAggregateBondReflectsNoDeductionForFeesExpensesOrTaxesIndexMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_A50SP50050BloombergCapitalAggregateBondReflectsNoDeductionForFeesExpensesOrTaxesIndexMember" xlink:to="lab_ck0001511699_A50SP50050BloombergCapitalAggregateBondReflectsNoDeductionForFeesExpensesOrTaxesIndexMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_CommoditiesRiskMember_label_en-US" xlink:label="lab_ck0001511699_CommoditiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commodities Risk Member</link:label>
    <link:label id="lab_ck0001511699_CommoditiesRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_CommoditiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commodities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_CommoditiesRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_CommoditiesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_CommoditiesRiskMember" xlink:to="lab_ck0001511699_CommoditiesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_DerivativesRiskFuturesContractRiskMember_label_en-US" xlink:label="lab_ck0001511699_DerivativesRiskFuturesContractRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives Risk, Futures Contract Risk Member</link:label>
    <link:label id="lab_ck0001511699_DerivativesRiskFuturesContractRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_DerivativesRiskFuturesContractRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivatives Risk, Futures Contract Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_DerivativesRiskFuturesContractRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_DerivativesRiskFuturesContractRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_DerivativesRiskFuturesContractRiskMember" xlink:to="lab_ck0001511699_DerivativesRiskFuturesContractRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_LoansRiskMember_label_en-US" xlink:label="lab_ck0001511699_LoansRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Risk Member</link:label>
    <link:label id="lab_ck0001511699_LoansRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_LoansRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loans Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_LoansRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_LoansRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_LoansRiskMember" xlink:to="lab_ck0001511699_LoansRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_CounterpartyRiskMember_label_en-US" xlink:label="lab_ck0001511699_CounterpartyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Risk Member</link:label>
    <link:label id="lab_ck0001511699_CounterpartyRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_CounterpartyRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Counterparty Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_CounterpartyRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_CounterpartyRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_CounterpartyRiskMember" xlink:to="lab_ck0001511699_CounterpartyRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_FixedIncomeSecuritiesRiskExtensionRiskMember_label_en-US" xlink:label="lab_ck0001511699_FixedIncomeSecuritiesRiskExtensionRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed Income Securities Risk, Extension Risk Member</link:label>
    <link:label id="lab_ck0001511699_FixedIncomeSecuritiesRiskExtensionRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_FixedIncomeSecuritiesRiskExtensionRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed Income Securities Risk, Extension Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_FixedIncomeSecuritiesRiskExtensionRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_FixedIncomeSecuritiesRiskExtensionRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_FixedIncomeSecuritiesRiskExtensionRiskMember" xlink:to="lab_ck0001511699_FixedIncomeSecuritiesRiskExtensionRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_TurnoverRiskMember_label_en-US" xlink:label="lab_ck0001511699_TurnoverRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Turnover Risk Member</link:label>
    <link:label id="lab_ck0001511699_TurnoverRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_TurnoverRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Turnover Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_TurnoverRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_TurnoverRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_TurnoverRiskMember" xlink:to="lab_ck0001511699_TurnoverRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_C000242963Member_label_en-US" xlink:label="lab_ck0001511699_C000242963Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kensington Defender Fund Institutional Class</link:label>
    <link:label id="lab_ck0001511699_C000242963Member_documentation_en-US" xlink:label="lab_ck0001511699_C000242963Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Kensington Defender Fund Institutional Class, C000242963</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_C000242963Member" xlink:href="ck0001511699-20260429.xsd#ck0001511699_C000242963Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_C000242963Member" xlink:to="lab_ck0001511699_C000242963Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_SecuritiesLendingRiskMember_label_en-US" xlink:label="lab_ck0001511699_SecuritiesLendingRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Securities Lending Risk Member</link:label>
    <link:label id="lab_ck0001511699_SecuritiesLendingRiskMember_documentation_en-US" xlink:label="lab_ck0001511699_SecuritiesLendingRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securities Lending Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001511699_SecuritiesLendingRiskMember" xlink:href="ck0001511699-20260429.xsd#ck0001511699_SecuritiesLendingRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001511699_SecuritiesLendingRiskMember" xlink:to="lab_ck0001511699_SecuritiesLendingRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001511699_C000234790Member_label_en-US" xlink:label="lab_ck0001511699_C000234790Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kensington Dynamic Allocation Fund Institutional Class Shares</link:label>
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