MANAGER DIRECTED PORTFOLIOS

Ticker: SWP CUSIP: 56170L612 Class: VERT GLB SUST RE

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (2)

MML INVESTORS SERVICES, LLC

Value ($000) $636 Shares 22,906

JANE STREET GROUP, LLC

Value ($000) $288 Shares 10,352

Institution	Shares	Value ($000)
MML INVESTORS SERVICES, LLC	22,906	$636
JANE STREET GROUP, LLC	10,352	$288

Increased Positions (1)

BRIAN LOW FINANCIAL GROUP, LLC

Value ($000) $18,269 (+5.7%) Shares 657,672 (+5.3%)

Institution	Prev Shares	Curr Shares	Change
BRIAN LOW FINANCIAL GROUP, LLC	624,468	657,672	+33,204 (+5.3%)

Decreased Positions (1)

Value ($000) $3 (-52.9%) Shares 113 (-53.1%)

Institution	Prev Shares	Curr Shares	Change
UBS Group AG	241	113	-128 (-53.1%)

Exited Positions (4)

NATURAL INVESTMENTS, LLC

Value ($000) $7 Shares 648,776

Simplicity Wealth,LLC

Value ($000) $208 Shares 7,525

CITADEL ADVISORS LLC

Value ($000) $223 Shares 8,069

Parallel Advisors, LLC

Value ($000) $3 Shares 122

Institution	Prev Shares	Prev Value ($000)
NATURAL INVESTMENTS, LLC	648,776	$7
Simplicity Wealth,LLC	7,525	$208
CITADEL ADVISORS LLC	8,069	$223
Parallel Advisors, LLC	122	$3