# EDGAR Filing Document

**Accession Number:** 0001567101
**File Stem:** 0001193125-26-058411
**Filing Date:** 2026-2
**Character Count:** 35369
**Document Hash:** d9353b85425c3361db7e50770d738c23
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-058411.hdr.sgml**: 20260219

**ACCESSION NUMBER**: 0001193125-26-058411

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260219

**DATE AS OF CHANGE**: 20260219

**EFFECTIVENESS DATE**: 20260219

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bridge Builder Trust
- **CENTRAL INDEX KEY:** 0001567101

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-187194
- **FILM NUMBER:** 26652401

**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 Large Cap Growth Fund (Series ID: S000048334)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000152649 | Bridge Builder Large Cap Growth Fund | BBGLX           |

![LOGO](g18426g59l30.jpg)

## Bridge Builder Large Cap Growth Fund
**Summary Prospectus** 

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| | |
|:---|:---|
| ***Ticker:* BBGLX** | **October 27, 2025, as amended and restated February 19, 2026** |

---

Before you invest, you may want to review the Fund's Prospectus, which contains more information about the Fund and its risks. You can find the Fund's Prospectus, Statement of Additional Information and other information about the Fund online at:

www.bridgebuildermutualfunds.com/literature/

You may also obtain this information at no cost by calling 1-855-823-3611 or by e-mail at bridgebuilder@edwardjones.com. The Fund's Prospectus and Statement of Additional Information, each dated October 27, 2025, as supplemented, are incorporated by reference into this Summary Prospectus.

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**SUMMARY SECTION** 

**Bridge Builder Large Cap Growth Fund** 

**Investment Objective** 

The investment objective of Bridge Builder Large Cap Growth Fund (the "Fund" or the "Large Cap Growth Fund") is to provide capital appreciation.

**Fees and Expenses of the Fund** 

The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. **You may pay other fees, such as annual program or administrative fees for participating in an Edward D. Jones & Co., L.P. ("Edward Jones") sponsored investment advisory program (an "Advisory Program"), which are not reflected in the table and examples below.**

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| | |
|:---|:---|
| **Annual Fund Operating Expenses**<br> *(expenses that you pay each year as a percentage of the value of your investment)* |  |
|  Management Fees<sup>(1)</sup> | 0.44% |
|  Distribution and Service (12b-1) Fees |  |
|  Other Expenses<sup>(2)</sup> | 0.01% |
|  Total Annual Fund Operating Expenses | 0.45% |
|  Less Waivers<sup>(1)</sup> | (0.26)% |
|  Net Annual Fund Operating Expenses | 0.19% |

---

<sup>(1)</sup> Olive Street Investment Advisers, LLC (the "Adviser") has contractually agreed, until at least October 28, 2026, to waive its management fees to the extent management fees to be paid to the Adviser exceed the management fees the Fund is required to pay the Fund's sub-advisers (*i.e.*, the Adviser does not receive any management fees from the Fund as a result of its waivers). This contractual agreement may not be terminated by the Adviser without the consent of the Board of Trustees (the "Board") of Bridge Builder Trust (the "Trust"), except that the Adviser may terminate the agreement upon written notice to the Trust, effective as of the end of the expense limitation period ending October 28, 2026, if written notice is provided to the Trust by or before a date agreed to by the Board. Such waivers are not subject to reimbursement by the Fund. 

<sup>(2)</sup> Other Expenses include acquired fund fees and expenses less than 0.01%. 

***Example***

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same (taking into account the Adviser's agreement to waive management fees until October 28, 2026). Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | |
|:---|:---|:---|:---|
| **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| $19 | $118 | $226 | $542 |

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**Portfolio Turnover** 

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 44% of the average value of its portfolio.

**Principal Investment Strategies** 

The Fund invests, under normal market conditions, at least 80% of its net assets (plus the amount of borrowings for investment purposes) in the securities of large capitalization companies and other instruments, such as certain investment companies (see below) that seek to track the performance of securities of large capitalization companies. The Fund defines large capitalization companies as companies whose market capitalizations at the time of purchase typically fall within the

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range of the Russell 1000<sup>®</sup> Index (as of April 30, 2025, companies with capitalizations greater than $2.0 billion). The market capitalization of the companies included in the Russell 1000<sup>®</sup> Index will change with market conditions. While the Fund primarily invests in equity securities of large capitalization companies, it may also invest in securities of medium and small capitalization companies. The Fund may invest in securities issued by U.S. and foreign entities, including emerging market securities. The Fund may invest in American Depositary Receipts ("ADRs") or Global Depositary Receipts ("GDRs"). The Fund may also invest in other investment companies, including other open-end or closed-end investment companies and exchange-traded funds ("ETFs") that have characteristics that are consistent with the Fund's investment objective. The Fund may also invest a portion of its assets in securities of real estate investment trusts ("REITs"), which are companies that own and/or manage real estate properties. The Fund may also buy or sell derivatives, principally futures contracts, currency forwards and total return swaps, for cash equitization purposes. The Fund will employ completion portfolio strategies, including index-based strategies, to seek to manage portfolio characteristics and achieve the Adviser's preferred portfolio positioning for the Fund. The Fund may, from time to time, invest a significant portion of its total assets in securities of companies in certain sectors. As of September 30, 2025, the Fund had significant exposure to securities of companies in the information technology sector. The Fund follows an investing style that favors growth investments.

The Fund's portfolio is constructed by combining the investment styles and strategies of multiple sub-advisers that have been or will be retained by the Adviser (each a "Sub-adviser"). Each Sub-adviser may use both its own proprietary and external research and securities selection processes to manage its allocated portion of the Fund's assets.

Portfolio securities may be sold at any time. Sales may occur when a Sub-adviser seeks to take advantage of what a Sub-adviser considers to be a better investment opportunity, when a Sub-adviser believes the portfolio securities no longer represent relatively attractive investment opportunities, or when a Sub-adviser believes it would be appropriate to do so in order to readjust the asset allocation of its portion of the Fund's investment portfolio.

The Fund is a non-diversified fund. A non-diversified fund may invest a greater portion of its assets in a single issuer or small group of issuers than a "diversified" fund.

The Adviser is responsible for determining the amount of Fund assets to allocate to each Sub-adviser. The Adviser allocates Fund assets for each investment strategy to the following Sub-advisers: Jennison Associates LLC ("Jennison"), Lazard Asset Management LLC ("Lazard"), Russell Investment Management, LLC ("RIM"), Sustainable Growth Advisers, LP ("SGA") and T. Rowe Price Associates, Inc. ("T. Rowe Price"). The Adviser may adjust allocations to the Sub-advisers at any time or make recommendations to the Board with respect to the hiring, termination, or replacement of a Sub-adviser. Below is a summary of each Sub-adviser's principal investment strategies.

**Jennison's Principal Investment Strategies** 

Jennison seeks to invest in large capitalization securities whose price will increase over the long term. It invests in equity and equity-related securities of companies that it believes have strong capital appreciation potential. In deciding which equities to buy, Jennison follows a highly disciplined investment selection and management process of identifying companies that show superior absolute and relative earnings growth and also are believed to be attractively valued. Jennison's confidence in potential issuer earnings is an important part of the selection process. Jennison evaluates a company's value by examining fundamental metrics such as price to forward earnings, price to book value, price to sales, and enterprise value to earnings before interest, taxes, depreciation, and amortization.

**Lazard's Principal Investment Strategies** 

Lazard invests primarily in equity securities, principally common stocks, of U.S. companies that Lazard believes have strong and/or improving financial productivity and are undervalued based on their earnings, cash flow or asset values. Although Lazard generally focuses on large capitalization companies, the market capitalizations of issuers in which Lazard invests may vary with market conditions, and Lazard also may invest in medium capitalization and small capitalization companies.

**RIM's Principal Investment Strategies** 

**Cash Equitization:** 

At the direction of the Adviser, RIM will expose all or a portion of the Fund's cash to the performance of certain markets by purchasing derivatives (also known as "cash equitization"), which includes index futures contracts, currency forwards, and total return swaps. This is intended to cause the Fund to perform as though all or a portion of its cash were actually invested in those markets.

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**Completion Portfolio:** 

At the direction of the Adviser, RIM will employ completion portfolio strategies to seek to achieve the Adviser's preferred portfolio positioning for the Fund and in doing so may invest in equity securities, ADRs, GDRs, other investment companies, and REITs. RIM will use quantitative and/or rules-based processes and qualitative analysis to assess Fund characteristics and invest in securities and other instruments that RIM believes will achieve the Adviser's preferred portfolio positioning for the Fund. RIM may use strategies based on indexes, including optimized index sampling (strategies that seek to purchase a sampling of securities using optimization and risk models) and/or index replication (strategies that seek to purchase the securities in an index or a blend of indexes).

**SGA's Principal Investment Strategies** 

SGA uses an investment process to identify large capitalization companies that it believes have a high degree of predictability, strong profitability and above average earnings and cash flow growth. SGA seeks to identify companies that exhibit characteristics such as pricing power, repeat revenue streams, and global reach that, in SGA's judgment, have the potential for long-term earnings growth within the context of low business risk. SGA employs an intensive internal research and a bottom-up stock selection approach. SGA selects investments that it believes have superior long-term earnings prospects and attractive valuation. SGA seeks to sell a portfolio holding when it believes the security's fundamentals deteriorate, its valuation is no longer attractive, or a better investment opportunity arises.

**T. Rowe Price's Principal Investment Strategies** 

T. Rowe Price seeks to provide long-term capital appreciation through investments in common stocks of growth companies. T. Rowe Price generally looks for companies having the following characteristics: above-average rate of earnings and cash flow growth and a lucrative niche in the economy that gives them the ability to sustain earnings momentum even during times of slow economic growth. T. Rowe Price will invest primarily in the securities of large-capitalization companies. The portion of the Fund managed by T. Rowe Price may also at times invest significantly in certain sectors, such as the information technology sector.

**Principal Risks** 

Since the Fund holds securities with fluctuating market prices, the value of the Fund's shares varies as its portfolio securities increase or decrease in value. Therefore, the value of your investment in the Fund could go down as well as up. You may lose money by investing in the Fund. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The principal risks affecting the Fund that can cause a decline in value are set forth below. The risks are ordered in alphabetical order after the first six risks, although the order of the risk factors does not indicate the significance of any particular risk factor. Any additional risks associated with the Fund's non-principal investments are described in the Statement of Additional Information ("SAI"). The SAI also provides additional information about the risks associated with the Fund's principal investments described herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Market Risk.** The overall market may perform poorly or the returns from the securities in which the Fund
invests may underperform returns from the general securities markets, a particular securities market, or other types of investments. A variety of factors can influence underperformance and can have a significant impact on the Fund and its
investments, including regulatory events, inflation, interest rates, government defaults, government shutdowns, war, regional conflicts, acts of terrorism, social unrest, the imposition of tariffs, trade disputes and substantial economic downturn or
recessions. In addition, the impact of any epidemic, pandemic, natural disaster, spread of infectious illness or other public health issue, or widespread fear that such events may occur, could negatively affect the global economy, as well as the
economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and
other instruments in which the Fund invests, which in turn could negatively impact the Fund's performance and cause losses on your investment in the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Equity Securities Risk.** The value of equity securities will rise and fall over short or extended
periods of time in response to the activities of the company that issued them, general market conditions, and/or economic conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Active Management Risk.** A significant portion of the Fund is actively managed with discretion and may
underperform market indices, including relevant benchmark indices, or other mutual funds with similar investment objectives.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Larger Company Risk.** Larger capitalization companies may be unable to respond quickly to new
competitive challenges such as changes in technology. They may also not be able to attain the high growth rate of successful smaller companies, especially during extended periods of economic expansion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Growth Style Risk.** The Fund is managed primarily in a growth investment style. Growth stocks can
perform differently from the market as a whole and other types of stocks and may underperform other types of investments or investment styles, as different market styles tend to shift in and out of favor depending upon market conditions and other
factors. Growth stocks are stocks of companies expected to increase revenues and earnings at a faster rate than their peers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Non-Diversification Risk.** The Fund is non-diversified, which means that it may invest in the securities of relatively few issuers. As a result, the Fund may be more susceptible to a single adverse economic or political occurrence affecting one or more
of these issuers and may experience increased volatility due to its investments in those securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **American Depositary Receipts or Global Depositary Receipts Risk.** ADRs and GDRs have the same currency
and economic risks as the underlying non-U.S. securities they represent. They are affected by the risks associated with non-U.S. securities, such as changes in political
or economic conditions of other countries and changes in the exchange rates of foreign currencies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Completion Portfolio Risk.** As part of RIM's completion portfolio strategies, RIM may use
index-based strategies, including index replication and optimized index sampling, to seek to achieve the Adviser's preferred portfolio positioning for the Fund. The Fund may hold constituent securities of the reference index regardless of the
current or projected performance of a specific security or a particular industry or market sector. Maintaining investments in securities regardless of the performance of individual securities or market conditions could cause the Fund's return
to be lower than if the Fund employed a fundamental investment approach to security selection with respect to that portion of its portfolio. Additionally, the portion of the Fund's portfolio utilizing an index-based strategy is subject to
"tracking error" risk, which is the risk that the performance of the portion of the Fund's portfolio utilizing an index-based strategy will differ from the performance of the reference index it seeks to track due to differences in
security holdings, operating expenses, transaction costs, cash flows, operational inefficiencies and tax considerations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Counterparty Risk.** When the Fund enters into an investment contract, such as a derivative or a
repurchase agreement, the Fund is exposed to the risk that the other party may be unable or unwilling to fulfill its obligations, which could adversely impact the value of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Currency Risk.** As a result of the Fund's investments in securities or other investments
denominated in, and/or receiving revenues in, foreign currencies, the Fund will be subject to currency risk. Currency risk is the risk that foreign currencies will decline in value relative to the U.S. dollar, adversely affecting the value of the
Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Derivatives Risk.** An investment in derivatives (such as futures contracts, currency forwards and total
return swaps) may not perform as anticipated by the Sub-advisers, may not be able to be closed out at a favorable time or price, or may increase the Fund's volatility. Derivatives may create investment
leverage so that when a derivative is used as a substitute for or alternative to a direct cash investment, the transaction may not provide a return that corresponds precisely with that of the cash investment or when used for hedging purposes, the
derivative may not provide the anticipated protection, causing the Fund to lose money on both the derivative and the exposure the Fund sought to hedge. Increases and decreases in the value of the Fund's portfolio may be magnified when the Fund
uses leverage. Derivatives are also subject to correlation risk, which is the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate, or index. The Fund's use of derivatives is also subject
to market risk, which is described above, and liquidity risk, which is described below. The Fund's use of swaps is also subject to counterparty risk, which is described above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Foreign Securities Risk (including Emerging Markets Risk).** The risks of investing in foreign
securities, including those in emerging markets, can increase the potential for losses in the Fund and may include currency risk, political and economic instability, terrorism, armed conflicts and other geopolitical events, additional or fewer
government regulations, the imposition of tariffs and other restrictions on trade or economic sanctions, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive
investors, and less stringent regulation of securities markets. Geopolitical or other events such as nationalization or expropriation could cause the loss of the Fund's entire investment in one or more countries. In addition, periodic U.S.
Government prohibitions on investments in issuers from certain foreign

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countries may require the Fund to sell such investments at inopportune times, which could result in losses to the Fund. The risks associated with international investing will be greater in emerging markets than in more developed foreign markets because, among other things, emerging markets may have less stable political and economic environments and may have fewer resources to mitigate the effects of a pandemic or natural disaster. <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Investment Company and Exchange-Traded Fund Risk.** An investment company, including an ETF, in which the
Fund invests may not achieve its investment objective or execute its investment strategies effectively. Large purchase or redemption activity by shareholders of such an investment company might negatively affect the value of the investment
company's shares. The Fund must also pay its pro rata portion of an investment company's fees and expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Investment Strategy Risk.** There is no assurance the Fund's investment objective will be achieved.
Investment decisions may not produce the expected results. The value of the Fund may decline, and the Fund may underperform other funds with similar objectives and strategies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Issuer-Specific Risk.** The value of an individual security or particular type of security can be more
volatile than, and can perform differently from, the market as a whole or other similar securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Liquidity Risk.** Low trading volume, a lack of a market maker, or contractual or legal restrictions may
limit the Fund's ability to value securities or prevent the Fund from selling securities or closing derivative positions at desirable times or prices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Multi-Manager and Multi-Style Management Risk.** The Fund allocates its assets to multiple Sub-advisers believed to have complementary styles. These investment styles, at times, may not be complementary and could result in more exposure to certain types of securities. Because portions of the Fund's
assets are managed by different Sub-advisers using different styles, the Fund could engage in overlapping or conflicting securities transactions. Overlapping transactions could lead to multiple Sub-advisers purchasing the same or similar securities at the same time, potentially leading to the Fund holding a more concentrated position in these securities. Conversely, certain Sub-advisers may be purchasing securities at the same time other Sub-advisers may be selling those same securities, which may lead to higher transaction expenses
compared to a fund using a single investment management style.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Real Estate Investment Trusts Risk.** REITs may be affected by changes in the value of the underlying
properties owned by the REITs and by the quality of tenants' credit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Redemption Risk.** The Fund may experience losses or realize taxable gains when selling securities to
meet redemption requests. This risk is greater for larger redemption requests or redemption requests during adverse market conditions. Large redemptions of the Fund's shares may force the Fund to sell securities at times when it would not
otherwise do so and may cause the Fund's portfolio turnover rate and transaction costs to rise, which may negatively affect the Fund's performance and have adverse tax consequences for Fund shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Regulatory and Judicial Risk.** The regulation of security markets, transactions and portfolio companies
is subject to change. Such regulatory changes and judicial actions could have a substantial adverse effect on the Fund's performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Sector Focus Risk.** Because the Fund may invest a significant portion of its assets in a particular
sector of the market, the Fund may be especially sensitive to factors and economic risks that specifically affect that sector. As a result, the Fund's share price may fluctuate more widely than the share price of a fund that is more broadly
invested across numerous sectors.

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| | |
|:---|:---|
| <sup>○</sup> | **Information Technology Sector Risk.** From time to time, the Fund may focus its investments in the information technology sector. Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins, and may be subject to extensive regulatory requirements causing considerable expense and delay. In addition, information technology companies are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability of these companies.  |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● **Smaller Company Risk.** Investments in smaller capitalization companies (including medium capitalization
and small capitalization companies) may have greater risks, as these companies may have less operating history, narrower product or customer markets, and fewer managerial and financial resources than more established companies. Smaller
capitalization stocks may be more volatile and have less liquidity.

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**Performance** 

The accompanying bar chart and table provide some indication of the risks of investing in the Fund. The bar chart show changes in the Fund's year-to-year performance and the table shows how the Fund's average annual total returns for one and five years and since inception compared to that of a broad measure of market performance and a more narrowly based index that reflects the market sectors in which the Fund invests. The performance information shown here reflects only Fund performance and does not reflect annual program or administrative fees you may be charged for participating in an Advisory Program. See the Fund's website www.bridgebuildermutualfunds.com/literature for updated performance information. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.

Year-by-Year Total Returns

Calendar Year Ended December 31

![LOGO](g18426g00n44.jpg)

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Quarterly Returns |  |
| &nbsp;&nbsp;&nbsp; Highest (quarter ended June 30, 2020) | 26.46% |
| &nbsp;&nbsp;&nbsp; Lowest (quarter ended June 30, 2022) | -19.54% |

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The performance information shown above is based on a calendar year. The Fund's performance (before taxes) from 1/1/25 to 9/30/25 was 11.53%.

Average Annual Total Returns

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Returns after taxes on distributions and sale of Fund shares may be higher than before-tax returns when a net capital loss occurs upon the redemption of Fund shares.

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| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Return as of December 31, 2024** | **Average Annual Total Return as of December 31, 2024** | **Average Annual Total Return as of December 31, 2024** | **Average Annual Total Return as of December 31, 2024** |
|  | **1 Year** | **5 Years** | **Since Inception**<br> **(4/27/15)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return Before Taxes | 21.40% | 14.31% | 13.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return After Taxes on Distributions | 19.49% | 13.09% | 12.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return After Taxes on Distributions and Sale of Fund Shares | 14.07% | 11.21% | 11.00% |
|  Russell 3000<sup>®</sup> Index (reflects no deduction for fees, expenses or taxes) | 23.81% | 13.86% | 12.58% |
|  Russell 1000<sup>®</sup> Growth Index (reflects no deduction for fees, expenses or taxes) | 33.36% | 18.96% | 16.65% |

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The Russell 3000<sup>®</sup> Index measures the performance of the largest 3,000 U.S. companies representing approximately 98% of the investable U.S. equity market. The Russell 3000<sup>®</sup> Index is constructed to provide a comprehensive, unbiased and stable barometer of the broad market and is completely reconstituted annually to ensure new and growing equities are reflected. The Russell 1000 <sup>®</sup> Growth Index measures the performance of the large- cap

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growth segment of the U.S. equity universe. It includes those Russell 1000<sup>®</sup> Index companies with higher price-to-book ratios and higher forecasted growth values. The Fund's portfolio holdings may differ significantly from the securities held in the relevant index and, unlike a mutual fund, the performance of an unmanaged index does not reflect deductions for transaction costs, taxes, management fees or other expenses. You cannot invest directly in an index.

**Fund Management** 

Olive Street Investment Advisers, LLC is the investment adviser for the Fund.

**Sub-advisers and Portfolio Managers** 

The Adviser allocates Fund assets for each investment strategy to the following Sub-advisers, which allocations may be adjusted at any time:

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| | | |
|:---|:---|:---|
|  **Jennison** |  |  |
| **Portfolio Managers** | **Position with Jennison** | **Length of Service**<br> **to the Fund** |
| *Blair A. Boyer* | Managing Director | Since Inception |
| *Natasha Kuhlkin, CFA* | Managing Director | Since April 2023 |
| *Owuraka Koney, CFA* | Managing Director | Since July 2025 |

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| | | |
|:---|:---|:---|
|  **Lazard** |  |  |
| **Portfolio Managers** | **Position with Lazard** | **Length of Service**<br> **to the Fund** |
| *Martin Flood* | Managing Director and Portfolio Manager/Analyst | Since Inception |
| *H. Ross Seiden* | Managing Director and Portfolio Manager/Analyst | Since September 2015 |
| *Louis Florentin-Lee* | Managing Director and Portfolio Manager/Analyst | Since December 2018 |
| *Janice Davies* | Managing Director and Portfolio Manager/Analyst | Since April 2024 |
|  **RIM** |  |  |
| **Portfolio Managers** | **Position with RIM** | **Length of Service<br>to the Fund** |
| *Brian Causey, CFA* | Senior Director, Overlay Services | Since January 2026 |
| *Jeremy Field* | Senior Portfolio Manager, Customized Portfolio Solutions, Equity | Since January 2026 |
| *Evgenia Gvozdeva, PhD* | Managing Director, Head of Research | Since January 2026 |
| *Christina Shockley* | Senior Portfolio Manager, Customized Portfolio Solutions, Overlay Services | Since January 2026 |
| *Nick Zylkowski, CFA* | Managing Director and Co-head of Customized Portfolio Solutions | Since January 2026 |
|  **SGA** |  |  |
| **Portfolio Managers** | **Position with SGA** | **Length of Service**<br> **to the Fund** |
| *Kishore Rao* | Portfolio Manager/Analyst | Since December 2019 |
| *Hrishikesh (HK) Gupta* | Portfolio Manager/Analyst | Since July 2022 |
| *Tucker Brown* | Portfolio Manager/Analyst | Since April 2025 |
| **T. Rowe Price** |  |  |
| **Portfolio Managers** | **Position with T. Rowe Price** | **Length of Service**<br> **to the Fund** |
| *Taymour Tamaddon\** | Portfolio Manager and Vice President | Since November 2024 |
| *Jon Michael Friar* | Portfolio Manager and Vice President | Since January 2025 |

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\* Effective May 1, 2026, Mr. Tamaddon will no longer serve as a portfolio manager to the portion of the assets of the Fund managed by T. Rowe Price.

**Purchase and Sale of Fund Shares** 

Fund shares are currently available to investors participating in an Advisory Program, as well as current and former Trustees of the Trust. Edward Jones, in its sole discretion, may determine the eligibility requirements of the Fund with respect to investors in an Advisory Program. Please discuss your eligibility to invest in the Fund with your Edward Jones financial advisor.

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Advisory Program investors may purchase and sell or redeem Fund shares only from Edward Jones through an Advisory Program. Current and former Trustees of the Trust may purchase and sell or redeem shares directly. There are no initial or subsequent minimum purchase amounts for the Fund. You may purchase or redeem shares of the Fund on any day the New York Stock Exchange ("NYSE") is open.

**Tax Information** 

The Fund's distributions will normally be taxed as qualified dividend income, ordinary income or capital gains. Distributions on investments made through tax-deferred arrangements may be taxed later upon withdrawal of assets from those accounts.