An M-winding coupled inductor includes a first end magnetic element, a second end magnetic element, M connecting magnetic elements, and M windings. M is an integer greater than one. Each connecting magnetic element is disposed between and connects the first and second end magnetic elements. Each winding is wound at least partially around a respective one of the M connecting magnetic elements. The coupled inductor further includes at least one top magnetic element adjacent to and extending at least partially over at least two of the M connecting magnetic elements to provide a magnetic flux path between the first and second end magnetic elements. The inductor may be included in an M-phase power supply, and the power supply may at least partially power a computer processor.