Manager Directed Portfolios. Holdings as of May 31, 2026, from Form N-PORT.
Share of net assets at the report date, for the whole fund across all share classes.
| Holding | Weight | Value | Shares or units |
|---|---|---|---|
| First American Treasury ObligaCash or money market | 7.95% | $12.28M | 12,280,447 |
| Microsoft CorpMSFT | 6.14% | $9.47M | 21,041 |
| Broadcom IncAVGO | 4.56% | $7.04M | 15,760 |
| Apple IncAAPL | 4.25% | $6.56M | 21,036 |
| Oracle CorpORCL | 3.99% | $6.16M | 27,273 |
| Alphabet IncGOOGL | 3.76% | $5.80M | 15,255 |
| Meta Platforms IncMETA | 3.33% | $5.14M | 8,124 |
| IBMIBM | 3.30% | $5.10M | 17,129 |
| Prologis IncPLD | 2.72% | $4.19M | 29,236 |
| Philip Morris International InPM | 2.61% | $4.04M | 22,755 |
| United Rentals IncURI | 2.41% | $3.73M | 3,742 |
| JPMorgan Chase & CoJPM | 2.33% | $3.60M | 12,012 |
| Goldman Sachs Group Inc/TheGS | 2.31% | $3.57M | 3,484 |
| TJX Cos Inc/TheTJX | 2.17% | $3.36M | 21,697 |
| Emerson Electric CoEMR | 2.17% | $3.35M | 23,284 |
| Citigroup IncC | 2.07% | $3.20M | 25,393 |
| Eli Lilly & CoLLY | 2.04% | $3.16M | 2,857 |
| American Express CoAXP | 2.03% | $3.14M | 9,908 |
| NextEra Energy IncNEE | 2.02% | $3.12M | 35,856 |
| Blackstone IncBX | 2.00% | $3.08M | 26,373 |
| Blackrock IncBLK | 1.96% | $3.02M | 2,888 |
| AstraZeneca PLC | 1.94% | $2.99M | 16,095 |
| RTX CorpRTX | 1.91% | $2.95M | 16,442 |
| TSMCTSM | 1.90% | $2.93M | 7,006 |
| AbbVie IncABBV | 1.89% | $2.92M | 13,423 |
| Freeport-McMoRan IncFCX | 1.84% | $2.84M | 43,231 |
| Cencora IncCOR | 1.75% | $2.71M | 10,059 |
| Digital Realty Trust IncDLR | 1.70% | $2.62M | 13,784 |
| PNC Financial Services Group IPNC | 1.69% | $2.60M | 11,767 |
| Union Pacific CorpUNP | 1.65% | $2.55M | 9,720 |
| Medtronic PLC | 1.64% | $2.54M | 34,393 |
| Darden Restaurants IncDRI | 1.62% | $2.51M | 12,288 |
| Dick's Sporting Goods IncDKS | 1.59% | $2.46M | 10,789 |
| Baker Hughes CoBKR | 1.44% | $2.23M | 34,877 |
| Enbridge IncENB | 1.39% | $2.15M | 39,246 |
| Delta Air Lines IncDAL | 1.29% | $2.00M | 24,200 |
| Booking Holdings IncBKNG | 1.24% | $1.91M | 11,399 |
| Salesforce IncCRM | 1.21% | $1.87M | 9,770 |
| Canadian Natural Resources LtdCNQ | 1.18% | $1.83M | 40,254 |
| Red Rock Resorts IncRRR | 1.10% | $1.70M | 29,123 |
| Becton Dickinson & CoBDX | 1.05% | $1.62M | 11,025 |
| Accenture PLC | 1.03% | $1.59M | 8,517 |
| Cameco CorpCCJ | 0.97% | $1.49M | 13,255 |
| Turning Point Brands IncTPB | 0.92% | $1.43M | 16,805 |
| Progressive Corp/ThePGR | 0.92% | $1.42M | 7,443 |
| N/ADerivative | -0.00% | -$50 | -50 |
| N/ADerivative | -0.00% | -$63 | -63 |
| N/ADerivative | -0.00% | -$89 | -89 |
| N/ADerivative | -0.00% | -$108 | -108 |
| N/ADerivative | -0.00% | -$118 | -236 |
Holdings from the fund's latest Form N-PORT; expense ratio (net of fee waivers) from the risk/return summary of its prospectus; fund type from Form N-CEN. Prices are end-of-day closes adjusted for splits; total return also reinvests distributions.