Abstract: A magnetic assembly is constructed comprising a first core portion, a second core portion, and a winding assembly. The first and second core portions each include a base portion and a plurality of projections extending from the base portion. The winding includes a plurality of stacked layers having conductive paths applied to their surfaces. The winding is constructed with a bore, wherein each conductive path encircles the bore. A number of the stacked conductive layers form a primary winding, and a number of the stacked conductive layers form a secondary winding. The winding is disposed over the first core portion in a manner so that a projection engages the opening of the winding to provide magnetic coupling of winding and core. The second core portion is disposed over the first core portion to form a closed magnetic circuit through and around the winding.