Abstract: A ferrite toroid has two radially extending gaps. Into each gap there is inserted an insulative shim having a magnetic metal ribbon folded over the shim. When current is applied to a winding on the core, the resultant magnetic flux is steered into the magnetic ribbons and around the gaps. For high frequency excitations eddy current losses in the ribbons are high and the windings have low Q but high inductance. At high winding currents, the magnetic ribbons are saturated, the inductance is reduced and the Q of the winding increases. In a switching voltage regulator, this inductor tends to generate only a small amount of ringing and electromagnetic radiation noise.