# EDGAR Filing Document

**Accession Number:** 0001567101
**File Stem:** 0001193125-23-007903
**Filing Date:** 2023-1
**Character Count:** 16333
**Document Hash:** 62f7bdd894df5fe47a3a96b7828dc254
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-007903.hdr.sgml**: 20230113

**ACCESSION NUMBER**: 0001193125-23-007903

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230113

**DATE AS OF CHANGE**: 20230113

**EFFECTIVENESS DATE**: 20230113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bridge Builder Trust
- **CENTRAL INDEX KEY:** 0001567101
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-187194
- **FILM NUMBER:** 23527334

**BUSINESS ADDRESS:**
- **STREET 1:** P.O. BOX 1920
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80201
- **BUSINESS PHONE:** 414-287-3700

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 1920
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80201

## Series and Classes Contracts Data

### Bridge Builder International Equity Fund (Series ID: S000049700)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| Bridge Builder International Equity Fund | BBIEX         | C000157146 |

---

### Bridge Builder Tax Managed International Equity Fund (Series ID: S000076296)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                           | Ticker Symbol | Class ID   |
| Bridge Builder Tax Managed International Equity Fund | BBTIX         | C000235968 |

---

## Series and Classes Contracts Data

### Bridge Builder International Equity Fund (Series ID: S000049700)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000157146 | Bridge Builder International Equity Fund | BBIEX           |

### Bridge Builder Tax Managed International Equity Fund (Series ID: S000076296)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000235968 | Bridge Builder Tax Managed International Equity Fund | BBTIX           |

**BRIDGE BUILDER TRUST** 

**Bridge Builder International Equity Fund** 

**(the "Fund")** 

**Supplement dated January 13, 2023** 

**to the Prospectus dated October 28, 2022, as supplemented** 

**This supplement provides new and additional information beyond that contained in the** 

**Prospectus and should be read in conjunction with the Prospectus.** 

Effective immediately, Rakesh Bordia is added as a portfolio manager of the portion of the assets of the Fund managed by Pzena Investment Management, LLC ("Pzena's Allocated Portion of the Fund"). Caroline Cai, Allison Fisch and John Goetz continue to serve as portfolio managers of Pzena's Allocated Portion of the Fund.

Accordingly, effective immediately, the Prospectus is hereby supplemented and revised as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1.* *The table entitled "Pzena" in the sub-section of the Prospectus entitled "Sub-advisers and Portfolio Managers" under the section entitled "Summary Section" for the Fund is replaced with the following:* 

---

| | | |
|:---|:---|:---|
| **Portfolio Managers** | **Position with Pzena** | **Length of Service to<br>the Fund** |
|  *Caroline Cai* | Managing Principal, Portfolio Manager | Since November 2016 |
|  *Allison Fisch* | Principal, Portfolio Manager | Since November 2016 |
|  *John Goetz* | Managing Principal, Co-Chief Investment<br>Officer and Portfolio Manager | Since November 2016 |
|  *Rakesh Bordia* | Principal and Portfolio Manager | Since January 2023 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2.* *The sub-section of the Prospectus entitled "Sub-advisers and Portfolio Managers – International Equity Fund – Pzena – Portfolio Managers" under the section entitled "Management of the Funds" is replaced with the following:* 

*<u>Portfolio Managers:</u>*

**Caroline Cai, Allison Fisch,** and **John Goetz** have been portfolio managers of the International Equity Fund since November 2016. **Rakesh Bordia** has been a portfolio manager of the International Equity Fund since January 2023.

Ms. Cai joined Pzena in 2004 and currently serves as a Managing Principal and Portfolio Manager for Pzena. Ms. Cai holds a B.A., summa cum laude, in Mathematics and Economics from Bryn Mawr College and is a Chartered Financial Analyst.

Ms. Fisch joined Pzena in 2001 and currently serves as a Principal and Portfolio Manager for Pzena. Ms. Fisch holds a B.A., summa cum laude, in Psychology and a minor in Drama from Dartmouth College.

------

Mr. Goetz joined Pzena in 1996 and currently serves as Co-Chief Investment Officer, Managing Principal and Portfolio Manager for Pzena. Mr. Goetz holds a B.A., summa cum laude, in Mathematics and Economics from Wheaton College and an M.B.A. from the Kellogg School of Management at Northwestern University.

Mr. Bordia joined Pzena in 2007 and currently serves as a Principal and Portfolio Manager for Pzena. Mr. Bordia holds a B.Tech in Computer Science and Engineering from the Indian Institute of Technology, Kanpur, India and an M.B.A. from the Indian Institute of Management, Ahmedabad, India.

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE** 

------

**BRIDGE BUILDER TRUST** 

**Bridge Builder Tax Managed International Equity Fund** 

**(the "Fund")** 

**Supplement dated January 13, 2023** 

**to the Prospectus dated October 28, 2022** 

**This supplement provides new and additional information beyond that contained in the** 

**Prospectus and should be read in conjunction with the Prospectus.** 

Effective immediately, Rakesh Bordia is added as a portfolio manager of the portion of the assets of the Fund managed by Pzena Investment Management, LLC ("Pzena's Allocated Portion of the Fund"). Caroline Cai, Allison Fisch and John Goetz continue to serve as portfolio managers of Pzena's Allocated Portion of the Fund.

Accordingly, effective immediately, the Prospectus is hereby supplemented and revised as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1.* *The table entitled "Pzena" in the sub-section of the Prospectus entitled "Sub-advisers and Portfolio Managers" under the section entitled "Summary Section" for the Fund is replaced with the following:* 

---

| | | |
|:---|:---|:---|
| **Portfolio Managers** | **Position with Pzena** | **Length of Service to<br>the Fund** |
|  *Caroline Cai* | Managing Principal, Portfolio Manager | Since Inception |
|  *Allison Fisch* | Principal, Portfolio Manager | Since Inception |
|  *John Goetz* | Managing Principal, Co-Chief Investment<br>Officer and Portfolio Manager | Since Inception |
|  *Rakesh Bordia* | Principal and Portfolio Manager | Since January 2023 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2.* *The sub-section of the Prospectus entitled "Sub-advisers and Portfolio Managers – International Equity Fund – Pzena – Portfolio Managers" under the section entitled "Management of the Funds" is replaced with the following:* 

*<u>Portfolio Managers:</u>*

**Caroline Cai, Allison Fisch,** and **John Goetz** have been portfolio managers of the International Equity Fund since its inception. **Rakesh Bordia** has been a portfolio manager of the International Equity Fund since January 2023.

Ms. Cai joined Pzena in 2004 and currently serves as a Managing Principal and Portfolio Manager for Pzena. Ms. Cai holds a B.A., summa cum laude, in Mathematics and Economics from Bryn Mawr College and is a Chartered Financial Analyst.

Ms. Fisch joined Pzena in 2001 and currently serves as a Principal and Portfolio Manager for Pzena. Ms. Fisch holds a B.A., summa cum laude, in Psychology and a minor in Drama from Dartmouth College.

------

Mr. Goetz joined Pzena in 1996 and currently serves as Co-Chief Investment Officer, Managing Principal and Portfolio Manager for Pzena. Mr. Goetz holds a B.A., summa cum laude, in Mathematics and Economics from Wheaton College and an M.B.A. from the Kellogg School of Management at Northwestern University.

Mr. Bordia joined Pzena in 2007 and currently serves as a Principal and Portfolio Manager for Pzena. Mr. Bordia holds a B.Tech in Computer Science and Engineering from the Indian Institute of Technology, Kanpur, India and an M.B.A. from the Indian Institute of Management, Ahmedabad, India.

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE** 

------

**BRIDGE BUILDER TRUST** 

**Bridge Builder International Equity Fund (the "Fund")** 

**Supplement dated January 13, 2023** 

**to the Statement of Additional Information ("SAI")** 

**dated October 28, 2022, as supplemented** 

**This supplement provides new and additional information beyond that contained in the** 

**SAI and should be read in conjunction with the SAI.** 

Effective immediately, Rakesh Bordia is added as a portfolio manager of the portion of the assets of the Fund managed by Pzena Investment Management, LLC ("Pzena's Allocated Portion of the Fund"). Caroline Cai, Allison Fisch and John Goetz continue to serve as portfolio managers of Pzena's Allocated Portion of the Fund.

Accordingly, effective immediately, the SAI is hereby supplemented and revised as follows:

*The sub-section entitled "Other Accounts Managed by Portfolio Managers and Ownership of Fund Shares*" *under the section entitled "The Funds' Investment Teams – The Sub-advisers – International Equity Fund – Pzena Investment Management, LLC ("Pzena")" is hereby replaced with the following:*

*Other Accounts Managed by Portfolio Managers and Ownership of Fund Shares*. The table below identifies, for the portfolio managers, the number of accounts managed (excluding the Fund) and the total assets in such accounts, within each of the following categories: registered investment companies, other pooled investment vehicles, and other accounts. To the extent that any of these accounts are based on account performance, this information is reflected below. Information is shown as of June 30, 2022, unless otherwise noted. Asset amounts are approximate and have been rounded.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Registered**<br> **Investment Companies<br>(excluding the Fund)** | **Registered**<br> **Investment Companies<br>(excluding the Fund)** | **Other Pooled**<br> **Investment Vehicles** | **Other Pooled**<br> **Investment Vehicles** | **Other Accounts** | **Other Accounts** |
| &nbsp;&nbsp;&nbsp;**Portfolio<br>Manager(s)** | **Number<br>of<br>Accounts** | **Total Assets in<br>the Accounts** | **Number<br>of<br>Accounts** | **Total Assets <br>in the<br>Accounts** | **Number of<br>Accounts** | **Total Assets in<br>the Accounts** |
| &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** |
| &nbsp;&nbsp; Caroline Cai | 10 | $2.4 billion | 45 | $13.5 billion | 55 | $11 billion |
| &nbsp;&nbsp; Allison Fisch | 11 | $2.4 billion | 23 | $1.9 billion | 32 | $6.3 billion |
| &nbsp;&nbsp; John Goetz | 7 | $1.4 billion | 41 | $12.6 billion | 36 | $7.5 billion |
| &nbsp;&nbsp; Rakesh Bordia<sup>1</sup> | 3 | $1.1 billion | 8 | $1.0 billion | 20 | $3.9 billion |
| &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** |
| &nbsp;&nbsp; Caroline Cai | 1 | $175.0 million | 3 | $212.3 million | 2 | $287.0 million |
| &nbsp;&nbsp; Allison Fisch | 1 | $175.0 million | 1 | $30.9 million | 0 | $0 |
| &nbsp;&nbsp; John Goetz | 0 | $0 | 3 | $212.3 million | 2 | $287.0 million |
| &nbsp;&nbsp; Rakesh Bordia<sup>1</sup> | 1 | $172.9 million | 0 | $0 | 0 | $0 |

---

<sup>1</sup>As of November 30, 2022.

As of June 30, 2022, for Mses. Cai and Fisch and Mr. Goetz, and as of November 30, 2022, for Mr. Bordia, the above-listed portfolio managers did not beneficially own any shares of the Fund.

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE** 

------

**BRIDGE BUILDER TRUST** 

**Bridge Builder Tax Managed International Equity Fund (the "Fund")** 

**Supplement dated January 13, 2023** 

**to the Statement of Additional Information ("SAI")** 

**dated October 28, 2022, as supplemented** 

**This supplement provides new and additional information beyond that contained in the** 

**SAI and should be read in conjunction with the SAI.** 

Effective immediately, Rakesh Bordia is added as a portfolio manager of the portion of the assets of the Fund managed by Pzena Investment Management, LLC ("Pzena's Allocated Portion of the Fund"). Caroline Cai, Allison Fisch and John Goetz continue to serve as portfolio managers of Pzena's Allocated Portion of the Fund.

Accordingly, effective immediately, the SAI is hereby supplemented and revised as follows:

*The sub-section entitled "Other Accounts Managed by Portfolio Managers and Ownership of Fund Shares*" *under the section entitled "The Funds' Investment Teams – The Sub-advisers – Tax Managed International Equity Fund – Pzena Investment Management, LLC ("Pzena")" is hereby replaced with the following:*

*Other Accounts Managed by Portfolio Managers and Ownership of Fund Shares*. The table below identifies, for the portfolio managers, the number of accounts managed (excluding the Fund) and the total assets in such accounts, within each of the following categories: registered investment companies, other pooled investment vehicles, and other accounts. To the extent that any of these accounts are based on account performance, this information is reflected below. Information is shown as of June 30, 2022, unless otherwise noted. Asset amounts are approximate and have been rounded.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Registered**<br> **Investment Companies<br>(excluding the Fund)** | **Registered**<br> **Investment Companies<br>(excluding the Fund)** | **Other Pooled**<br> **Investment Vehicles** | **Other Pooled**<br> **Investment Vehicles** | **Other Accounts** | **Other Accounts** |
| &nbsp;&nbsp;&nbsp;**Portfolio<br>Manager(s)** | **Number<br>of<br>Accounts** | **Total Assets in<br>the Accounts** | **Number<br>of<br>Accounts** | **Total Assets <br>in the<br>Accounts** | **Number of<br>Accounts** | **Total Assets in<br>the Accounts** |
| &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** | &nbsp;&nbsp;&nbsp;**All Accounts** |
| &nbsp;&nbsp; Caroline Cai | 10 | $2.4 billion | 45 | $13.5 billion | 55 | $11 billion |
| &nbsp;&nbsp; Allison Fisch | 11 | $2.4 billion | 23 | $1.9 billion | 32 | $6.3 billion |
| &nbsp;&nbsp; John Goetz | 7 | $1.4 billion | 41 | $12.6 billion | 36 | $7.5 billion |
| &nbsp;&nbsp; Rakesh Bordia<sup>1</sup> | 3 | $1.1 billion | 8 | $1.0 billion | 20 | $3.9 billion |
| &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** | &nbsp;&nbsp;&nbsp;**Accounts Subject to Performance Fees** |
| &nbsp;&nbsp; Caroline Cai | 1 | $175.0 million | 3 | $212.3 million | 2 | $287.0 million |
| &nbsp;&nbsp; Allison Fisch | 1 | $175.0 million | 1 | $30.9 million | 0 | $0 |
| &nbsp;&nbsp; John Goetz | 0 | $0 | 3 | $212.3 million | 2 | $287.0 million |
| &nbsp;&nbsp; Rakesh Bordia<sup>1</sup> | 1 | $172.9 million | 0 | $0 | 0 | $0 |

---

<sup>1</sup>As of November 30, 2022.

As of June 30, 2022, for Mses. Cai and Fisch and Mr. Goetz, and as of November 30, 2022, for Mr. Bordia, the above-listed portfolio managers did not beneficially own any shares of the Fund.

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE**