# EDGAR Filing Document

**Accession Number:** 0001141819
**File Stem:** 0000894189-25-017381
**Filing Date:** 2025-12
**Character Count:** 24878
**Document Hash:** 567d152d51e5665f081aa3198a61f13f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-017381.hdr.sgml**: 20251222

**ACCESSION NUMBER**: 0000894189-25-017381

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251222

**DATE AS OF CHANGE**: 20251222

**EFFECTIVENESS DATE**: 20251222

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRUST FOR PROFESSIONAL MANAGERS
- **CENTRAL INDEX KEY:** 0001141819

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-62298
- **FILM NUMBER:** 251592096

**BUSINESS ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4147655067

**MAIL ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZODIAC TRUST
- **DATE OF NAME CHANGE:** 20010601

## Series and Classes Contracts Data

### Column Mid Cap Fund (Series ID: S000082923)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000246267 | Column Mid Cap Fund | CFMCX           |

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| | |
|:---|:---|
| ![columnmf_cmykxbluelogoa.jpg](columnmf_cmykxbluelogoa.jpg) | ***Summary Prospectus***<br>**December 29, 2025**<br>**Column Mid Cap Fund (CFMCX)**<br>**https://columnfunds.com/** |

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Before you invest, you may want to review the Column Mid Cap Fund Statutory Prospectus and Statement of Additional Information, which contain more information about the Fund and its risks. The current Statutory Prospectus and Statement of Additional Information dated December 29, 2025, are incorporated by reference into this Summary Prospectus. You can find the Fund's Statutory Prospectus, Statement of Additional Information and other information about the Fund online at https://columnfunds.com/. You can also get this information at no cost by calling 866-950-4644 or by sending an email request to nmis-online@northwesternmutual.com.

**Investment Objective.** The investment objective of the Column Mid Cap Fund (the "Mid Cap Fund" or the "Fund") is long-term capital appreciation.

**Fees and Expenses of the Fund.** This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may pay other fees, such as annual program or administrative fees, for participating in an advisory program sponsored by Northwestern Mutual Wealth Management Company ("NMWMC"), an affiliate of the Adviser (defined below), which are not reflected in the table and Example 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 | 0.70% |
| Other Expenses | 0.09% |
| Shareholder Servicing Plan Fees<sup>(1)</sup> | 0.06% |
| Total Annual Fund Operating Expenses | 0.85% |
| Management Fee Waiver<sup>(2)</sup> | -0.36% |
| Total Annual Fund Operating Expenses after Management Fee Waiver | 0.49% |

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<sup>(1)</sup> The Trust's Board of Trustees (the "Board of Trustees") has authorized a shareholder servicing plan fee in the amount of 0.10% of the Fund's average daily net assets. Currently, the shareholder servicing plan fee being charged is 0.06% of the Fund's average daily net assets; however, the fee may be increased to 0.10% of the Fund's average daily net assets at any time.

<sup>(2)</sup> Mason Street Advisors, LLC (the "Adviser"), the Fund's investment adviser, has contractually agreed, through at least December 31, 2026, to waive its management fees to the extent such management fees exceed the management fees that the Adviser is required to pay to the Fund's designated sub-advisers for management of allocated portions of the Fund. The Adviser may not recoup these waivers in future periods. The current fee waiver agreement can be terminated only by, or with the consent of, the Board of Trustees, or by the Adviser, upon 90 days' written notice to the Board, at the end of the current term of the agreement.

**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 hold or 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. The management fee waiver discussed in the table above is reflected only through December 31, 2026. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

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| | | | |
|:---|:---|:---|:---|
| **<u>One Year</u>** | **<u>Three Years</u>** | **<u>Five Years</u>** | **<u>Ten Years</u>** |
| $50 | $235 | $436 | $1016 |

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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 transaction costs and potentially higher taxes, which are not reflected in the Total Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the fiscal year ended August 31, 2025, the portfolio turnover rate for the Fund was 49% of the average value of its portfolio.

**Principal Investment Strategies.** Under normal market conditions, the Fund will invest at least 80% of net assets (plus any borrowings for investment purposes) in stocks of mid-capitalization companies ("mid-cap companies") (the "Name Rule Policy"). The Fund considers a company to be a mid-cap company if it has a market capitalization within the collective range of the Russell MidCap<sup>®</sup> Index and the S&P MidCap 400<sup>®</sup> Index. As of September 30, 2025, this range was approximately $1.1 billion to $127.2 billion. The market capitalization range of these indices changes over time. Subject to the Name Rule Policy, securities of companies whose market capitalizations no longer fall within this collective range after purchase may continue to be held by the Fund.

The Fund may invest in common stocks issued by U.S. and foreign companies. The Fund may also invest in American Depositary Receipts ("ADRs"), European Depositary Receipts ("EDRs") and Global Depositary Receipts ("GDRs"). Depositary receipts represent interests in foreign securities on deposit by banks. The Fund may also invest in U.S. and foreign real estate investment trusts ("REITs"), which are companies that own and/or manage real estate properties. From time-to-time a significant percentage of the Fund's assets may be invested in issuers in a single sector. The sector weightings of the Fund are likely to change over time.

The Fund incorporates a mix of investment styles and philosophies, targeting a balance of growth and value over time. The Adviser is responsible for developing, constructing and monitoring the asset allocation and portfolio strategy for the Fund. The Adviser believes the Fund's reward and risk characteristics can be enhanced, using a "manager of managers" approach, by employing multiple sub-advisory firms with distinct and complementary investment styles and approaches for the Fund. When determining the allocation of the Fund's assets among sub-advisers, the Adviser uses proprietary qualitative and quantitative research, considering factors including, but not limited to, sub-adviser experience and investment approach, expected risk and return potential, portfolio characteristics, and costs. Sub-adviser asset allocations are determined by the Adviser and the Adviser may increase or decrease a sub-adviser's asset allocation as deemed appropriate by the Adviser. The strategies for each sub-adviser are described as follows:

**American Century Investment Management, Inc.**

The sub-adviser invests in mid-cap companies, employing a fundamental, bottom-up process to seek to identify high-quality companies selling at a discount to fair value. The approach aims to balance participating in the market's upside with mitigating its downside.

**American Century Investment Management, Inc. (Avantis Investors division)**

The sub-adviser invests in a broad set of mid-cap companies, taking into consideration valuation, profitability, and levels of investment when selecting and weighting securities. The strategy uses a systematic investment process designed to reduce unnecessary risks and costs.

**Boston Partners Global Investors, Inc.**

The sub-adviser invests in mid-cap companies and uses bottom-up fundamental analysis to make investment decisions. The strategy is designed to identify companies with attractive valuation, sound business fundamentals, and improving business momentum.

**EARNEST Partners, LLC**

The sub-adviser invests in U.S. mid-cap companies, using an industry-specific screening process to identify stocks with the greatest excess return potential. The team uses rigorous bottom-up analysis to build a portfolio of high-quality businesses with an emphasis on limiting downside risk.

**Invesco Advisers, Inc.**

The sub-adviser invests in mid-cap companies, focusing on growth companies that pioneer new markets or are industry leaders run by accomplished management teams. The process relies on bottom-up fundamental analysis and seeks to proactively manage risk.

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**Kayne Anderson Rudnick Investment Management, LLC**

The sub-adviser invests in mid-cap companies, using bottom-up research to build a high conviction portfolio, a focused group of stocks that it believes has the best performance potential, of businesses it believes are high-quality, such as those with durable competitive advantages, excellent management, and lower financial risk.

**Principal Risks.** Before investing in the Fund, you should carefully consider your own investment goals, the amount of time you are willing to leave your money invested, and the amount of risk you are willing to take. Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over long or even short periods of time. The principal risks of investing in the Fund are:

• *Management Risk.* The Adviser's investment strategies for the Fund, including the "manager of managers" approach described above, may not result in an increase in the value of your investment or in overall performance equal to other investments.

*• General Market Risk.* Certain securities selected for the Fund's portfolio may be worth less than the price originally paid for them, or less than they were worth at an earlier time.

• *Recent Market Events Risk.* U.S. and international markets have experienced and may continue to experience significant periods of volatility in recent years and months due to a number of economic, political and global macro factors including uncertainty regarding inflation and central banks' interest rate changes, the possibility of a national or global recession, trade tensions and tariffs, political events and geopolitical conflicts. As a result of continuing political tensions and armed conflicts, including the wars in Europe and the Middle East, markets have experienced increased volatility. Continuing market volatility as a result of recent market conditions or other events may have an adverse effect on the performance of the Fund.

• *Common Stock Risk.* Common stock represents a proportionate share of the ownership of a company and its value is based on the success of the company's business, any income paid to stockholders, the value of its assets, and general market conditions. In addition to the general risks of equity securities, investments in common stocks are subject to the risk that in the event a company in which the Fund invests is liquidated, the holders of preferred stock and creditors of that company will be paid in full before any payments are made to the Fund as a holder of common stock. It is possible that all assets of that company will be exhausted before any payments are made to the Fund.

• *Growth Stock Risk.* The prices of growth stocks may be more sensitive to changes in current or expected earnings than the prices of other stocks and may be out of favor with investors at different periods of time. Compared to value stocks, growth stocks may experience larger price swings.

• *Value Stock Risk.* Value stocks may perform differently from the market as a whole and may continue to be undervalued by the market for long periods of time.

• *Equity Market Risk.* The equity securities held in the Fund's portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. This may occur because of factors that affect securities markets generally or factors affecting specific industries, sectors or companies in which the Fund invests.

• *Mid-Cap Company Risk.* The Fund may invest substantially all of its assets in the stocks of mid-cap companies. Mid-cap companies may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, these mid-cap companies may pose additional risks, including liquidity risk, because these companies may have limited product lines, markets and financial resources, and may depend upon a relatively small management group. Therefore, mid-cap stocks may be more volatile than those of larger companies.

• *Foreign Securities and Currency Risk.* Non-U.S. securities are subject to risks relating to political, social and economic developments abroad and differences between U.S. and foreign regulatory requirements and market practices, including fluctuations in foreign currencies. The securities of foreign companies are frequently denominated in foreign currencies. A change in the value of a foreign currency against the U.S. dollar will result in a corresponding change in value of securities denominated in that currency. Issuers of foreign securities may not be required to provide operational or financial information that is as timely or reliable as those required for issuers of U.S. securities. The income or dividends earned on foreign securities may be subject to foreign withholding taxes. To the extent that a market is closed while the markets for the underlying currencies remain open, certain markets may not always reflect significant price and rate movements.

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• *Depositary Receipts Risk.* ADRs and similar depositary receipts typically will be subject to certain of the risks associated with direct investments in the securities of non-U.S. companies because their values depend on the performance of the underlying non-U.S. securities. However, currency fluctuations will impact investments in depositary receipts differently than direct investments in non-U.S. dollar-denominated non-U.S. securities because a depositary receipt will not appreciate in value solely as a result of appreciation in the currency in which the underlying non-U.S. dollar security is denominated. The Fund may invest in depositary receipts through an unsponsored facility where the depositary issues the depositary receipts without an agreement with the company that issues the underlying securities. As a result, available information concerning the issuer may not be as current as for sponsored depositary receipts, and the prices of unsponsored depositary receipts may be more volatile than if such instruments were sponsored by the issuer.

• *Liquidity Risk.* Certain investments and markets can become illiquid at times and negatively impact the price of an investment if the Fund were to sell during times of illiquidity.

• *Sector Risk*. From time to time, based on market or economic conditions, the Fund may have significant positions in one or more sectors of the market. To the extent the Fund invests more heavily in particular sectors, its performance will be especially sensitive to developments that significantly affect those sectors. Individual sectors may be more volatile, and may perform differently, than the broader market. The industries that constitute a sector may all react in the same way to economic, political or regulatory events.

◦ *Industrials Sector Risk*. To the extent that the Fund invests a significant portion of its assets in the industrials sector, the Fund will be sensitive to changes in, and its performance will depend to a greater extent on, the overall condition of the industrials sector. The industrials sector may be significantly affected by general economic trends, including such factors as import controls, commodity prices, and worldwide competition.

• *REIT Risk.* Adverse changes in general economic and local market conditions, supply or demand for similar or competing properties, taxes, governmental regulations or interest rates, as well as the risks associated with improving and operating property, may decrease the value of REITs in which the Fund may invest. In addition, to the extent the Fund holds interests in REITs, it is expected that investors in the Fund will bear two layers of asset-based management fees and expenses (directly at the Fund level and indirectly at the REIT level). Additionally, there is always a risk that a REIT will fail to qualify for favorable tax treatment.

• *Cybersecurity Risk.* With the Internet and other technologies being essential to conducting business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund's ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs.

**Performance.** The performance information below demonstrates the risk of investing in the Fund by showing changes in the Fund's performance from year to year, and by showing how the Fund's average annual total returns for the one year and since inception periods compare to those of the Russell MidCap<sup>®</sup> Total Return Index (the Fund's benchmark) and the S&P 500<sup>®</sup> Total Return Index, a broad measure of market performance. The Fund's past performance information, both before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information for the Fund is available on the Fund's website at https://columnfunds.com/ or by calling the Fund toll-free at 866-950-4644.

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**Calendar Year Returns as of December 31**

![chart-09356be3e9a34641b21a.jpg](chart-09356be3e9a34641b21a.jpg)

The Fund's calendar year-to-date return as of September 30, 2025 was 7.71%. During the period of time shown in the bar chart, the Fund's highest quarterly return was 9.04% for the quarter ended March 31, 2024, and the lowest quarterly return was -4.32% for the quarter ended June 30, 2024.

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| | | |
|:---|:---|:---|
| **Average Annual Total Returns<br>(for the Periods Ended December 31, 2024)** | **Average Annual Total Returns<br>(for the Periods Ended December 31, 2024)** | **Average Annual Total Returns<br>(for the Periods Ended December 31, 2024)** |
| | **<u>1 Year</u>** | **Since Inception**<br>**<u>(December 11, 2023)</u>** |
| Return Before Taxes | 12.12% | 15.67% |
| Return After Taxes on Distributions | 11.86% | 15.43% |
| Return After Taxes on Distributions and Sale of Fund Shares | 7.37% | 11.96% |
| **S&P 500**<sup>®</sup> **Total Return Index**<br>(reflects no deduction for fees, expenses or taxes) | 25.02% | 27.41% |
| **Russell Midcap**<sup>®</sup> **Total Return Index**<br>(reflects no deduction for fees, expenses or taxes) | 15.34% | 19.80% |

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After-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect and do not reflect the effect of state and local taxes. The after-tax returns shown are not relevant to those investors who hold their shares through tax-deferred or other tax-advantaged arrangements such as 401(k) plans or individual retirement accounts ("IRAs").

**Management.** Mason Street Advisors, LLC is the Fund's investment adviser.

**Sub-Advisers and Portfolio Managers.** The Adviser allocates Fund assets among the following sub-advisers. Each sub-adviser's portfolio managers are primarily responsible for the day-to-day management of the portion of the Fund's portfolio that is allocated to the sub-adviser. For sub-advisers that have a group of portfolio managers, such portfolio managers are jointly and primarily responsible for such day-to-day management.

**American Century Investment Management, Inc.**

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| | | |
|:---|:---|:---|
| **Portfolio Manager** | **Primary Title** | **Years of Service with the Fund** |
| Kevin Toney, CFA | Chief Investment Officer – Global Value Equity, Senior Vice President and Senior Portfolio Manager | Since Inception |
| Michael Liss, CFA, CPA\* | Vice President and Senior Portfolio Manager | Since Inception |
| Brian Woglom, CFA | Vice President and Senior Portfolio Manager | Since Inception |
| Nathan Rawlins, CFA | Portfolio Manager and Senior Investment Analyst | Since Inception |

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\*&nbsp;&nbsp;&nbsp;&nbsp;Michael Liss will be retiring as of December 31, 2025.

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**American Century Investment Management, Inc. (Avantis Investors division)**

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| | | |
|:---|:---|:---|
| **Portfolio Manager** | **Primary Title** | **Years of Service with the Fund** |
| Daniel Ong, CFA | Senior Portfolio Manager | Since Inception |
| Eduardo Repetto, PhD | Chief Investment Officer | Since Inception |
| Mitchell Firestein | Senior Portfolio Manager | Since Inception |
| Ted Randall | Senior Portfolio Manager | Since Inception |
| Matthew Dubin | Portfolio Manager | Since January 2024 |

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**Boston Partners Global Investors, Inc.**

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| | | |
|:---|:---|:---|
| **Portfolio Manager** | **Primary Title** | **Years of Service with the Fund** |
| Steve Pollack, CFA | Portfolio Manager | Since Inception |
| Tim Collard | Portfolio Manager | Since Inception |

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**EARNEST Partners, LLC**

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| | | |
|:---|:---|:---|
| **Portfolio Manager** | **Primary Title** | **Years of Service with the Fund** |
| Paul E. Viera | Chief Executive Officer and Partner | Since Inception |

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**Invesco Advisers, Inc.**

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| | | |
|:---|:---|:---|
| **Portfolio Manager** | **Primary Title** | **Years of Service with the Fund** |
| Ronald Zibelli, Jr., CFA | Portfolio Manager (lead) | Since Inception |
| Justin Livengood, CFA | Portfolio Manager | Since Inception |

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**Kayne Anderson Rudnick Investment Management, LLC**

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| | | |
|:---|:---|:---|
| **Portfolio Manager** | **Primary Title** | **Years of Service with the Fund** |
| Jon Christensen, CFA | Portfolio Manager and Senior Research Analyst | Since Inception |
| Craig Stone | Chief Investment Officer, Portfolio Manager and Senior Research Analyst | Since Inception |
| Chris Wright, CFA | Portfolio Manager and Senior Research Analyst | Since January 2026 |

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**Purchase and Sale of Fund Shares.** Shares of the Column Funds are available only to investors participating in certain advisory programs sponsored by NMWMC. NMWMC advisory program investors may purchase and sell (redeem) shares of the Funds only through NMWMC. There is no minimum amount for investment in the Funds.

**Tax Information.** A Fund's distributions will be taxed as ordinary income or long-term capital gain, unless you are investing through a tax-deferred or other tax-advantaged arrangement, such as a 401(k) plan or an IRA. You may be taxed later upon withdrawal of monies from tax-deferred arrangements.

**Payments to Financial Intermediaries**

NMWMC's advisory programs purchase and redeem shares of the Funds through a financial intermediary, and the Adviser and/or its related companies may pay the financial intermediary for the sale of Fund shares and related services. These payments may create conflicts of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend a Fund over another investment. Ask your financial adviser or visit your financial intermediary's website for more information.

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