# EDGAR Filing Document

**Accession Number:** 0001511699
**File Stem:** 0000894189-23-001748
**Filing Date:** 2023-3
**Character Count:** 2062
**Document Hash:** 31c2c9b8ccf52ed08a61d990bc5d4291
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-23-001748.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0000894189-23-001748

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**EFFECTIVENESS DATE**: 20230301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Managed Portfolio Series
- **CENTRAL INDEX KEY:** 0001511699
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-172080
- **FILM NUMBER:** 23694014

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-287-3700

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Muhlenkamp Fund (Series ID: S000046566)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000145345 | Institutional Class Shares | MUHLX           |

**MANAGED PORTFOLIO SERIES**

**(the "Trust")**

**Muhlenkamp Fund**

**(the "Fund")**

***Supplement dated March 1, 2023, to the***

***Summary Prospectus and Prospectus***

***each dated April 30, 2022***

As disclosed in the Fund's current summary prospectus and prospectus, Muhlenkamp & Company, Inc., the Fund's investment adviser, has contractually agreed to waive its management fees, and pay Fund expenses, in order to ensure the Fund's Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses, leverage/borrowing interest, interest expense, taxes, brokerage commissions, and extraordinary expenses) do not exceed 1.10% of the Fund's average daily net assets through at least April 30, 2023.

Effective May 1, 2023, the Fund's contractual expense limit will change from an annual rate of 1.10% to 1.20% of the Fund's average annual net assets.

***This supplement should be retained with your Summary Prospectus*** <br>***and Prospectus for future reference.***<br>

<br>