# EDGAR Filing Document

**Accession Number:** 0001359057
**File Stem:** 0000894189-25-017211
**Filing Date:** 2025-12
**Character Count:** 2317
**Document Hash:** 3b50a16ff3f8157e40714a9e3ace65b2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-017211.hdr.sgml**: 20251218

**ACCESSION NUMBER**: 0000894189-25-017211

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251218

**DATE AS OF CHANGE**: 20251218

**EFFECTIVENESS DATE**: 20251218

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Manager Directed Portfolios
- **CENTRAL INDEX KEY:** 0001359057

**ORGANIZATION NAME:**
- **EIN:** 571138125
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-133691
- **FILM NUMBER:** 251582511

**BUSINESS ADDRESS:**
- **STREET 1:** C/O U.S. BANCORP FUND SERVICES, LLC
- **STREET 2:** 615 E. MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 9522306140

**MAIL ADDRESS:**
- **STREET 1:** C/O U.S. BANCORP FUND SERVICES, LLC
- **STREET 2:** 615 E. MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Roxbury Funds
- **DATE OF NAME CHANGE:** 20060411

## Series and Classes Contracts Data

### Deepwater Beachfront Small Cap ETF (Series ID: S000097730)

---

|  |  |  |
|:---|:---|:---|
| Class Name                         | Ticker Symbol | Class ID   |
| Deepwater Beachfront Small Cap ETF | DBSC          | C000267219 |

---

## Series and Classes Contracts Data

### Deepwater Beachfront Small Cap ETF (Series ID: S000097730)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000267219 | Deepwater Beachfront Small Cap ETF | DBSC            |

Filed pursuant to Rule 497(e)

Registration Nos. 333-133691; 811-21897

**Deepwater Beachfront Small Cap ETF (DBSC) (the "Fund"), a series of Manager Directed Portfolios**

**Supplement dated December 18, 2025**

**to the Summary Prospectus, Prospectus and Statement of Additional Information ("SAI"), each dated December 8, 2025**

Effective December 18, 2025, the Fund's website is changed to etfs.deepwatermgmt.com/dbsc/. All references in the Fund's Summary Prospectus, Prospectus, and SAI to www.deepwatermgmt.com are revised to reflect the new website.

**Please retain this Supplement with your Summary Prospectus, Prospectus, and SAI for future reference.**

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