Hi Tammie. You have a watchlist, and each profile has a Trusted List. The profiles on your watchlist are exactly those profiles whose Trusted List you belong to.
Being profile manager is a step above being on the Trusted List of the profile, with slightly more power over it. Every manager of a profile is on that profile's Trusted List, but the reverse is not always true.
In the display of your watchlist is a column called Status/ID. The profiles of which you are manager show an M symbol in that column.
I hope this helps with your question. Let us know if you need more information