A switching regulator is disclosed comprising a high-voltage port, a low-voltage port, n number of switching poles, a magnetic element, and a controller. In turn, each switching pole connects across the high-voltage port and may consist of either one switch and one diode or two switches and two diodes. In turn, the magnetic element comprises a ferro-core having n number of magnetic branches, each of which includes a winding. Each winding start connects to the phase node of a respective switching pole, while each winding finish connects, in common, to one side of the low-voltage port. An n+1th magnetic branch establishes a defined common-mode inductance which, in combination with transformer action, limits current ripple. The transformer action serves to exchange ripple power between phases such that the need for inductance is greatly reduced.