# EDGAR Filing Document

**Accession Number:** 0000811030
**File Stem:** 0000894189-26-014272
**Filing Date:** 2026-5
**Character Count:** 6585
**Document Hash:** a04bffdc04b8b3639e7012105e5f039f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-014272.hdr.sgml**: 20260501

**ACCESSION NUMBER**: 0000894189-26-014272

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260501

**DATE AS OF CHANGE**: 20260501

**EFFECTIVENESS DATE**: 20260501

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROFESSIONALLY MANAGED PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000811030

**ORGANIZATION NAME:**
- **EIN:** 566415270
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-12213
- **FILM NUMBER:** 26931487

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-218-3770

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AVONDALE INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19910529

## Series and Classes Contracts Data

### Osterweis Strategic Income Fund (Series ID: S000004930)

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|  |  |  |
|:---|:---|:---|
| Class Name     | Ticker Symbol | Class ID   |
| Investor Class | OSTIX         | C000013345 |

---

### Osterweis Fund (Series ID: S000004931)

---

|  |  |  |
|:---|:---|:---|
| Class Name     | Ticker Symbol | Class ID   |
| Investor Class | OSTFX         | C000013346 |

---

### Osterweis Growth & Income Fund (Series ID: S000029833)

---

|  |  |  |
|:---|:---|:---|
| Class Name     | Ticker Symbol | Class ID   |
| Investor Class | OSTVX         | C000091752 |

---

### Osterweis Opportunity Fund (Series ID: S000055531)

---

|  |  |  |
|:---|:---|:---|
| Class Name     | Ticker Symbol | Class ID   |
| Investor Class | OSTGX         | C000174818 |

---

## Series and Classes Contracts Data

### Osterweis Strategic Income Fund (Series ID: S000004930)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000013345 | Investor Class | OSTIX           |

### Osterweis Fund (Series ID: S000004931)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000013346 | Investor Class | OSTFX           |

### Osterweis Growth & Income Fund (Series ID: S000029833)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000091752 | Investor Class | OSTVX           |

### Osterweis Opportunity Fund (Series ID: S000055531)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000174818 | Investor Class | OSTGX           |

Filed pursuant to Rule 497(e)

Registration Nos. 033-12213; 811-05037

![a202410fundslogo-blue.jpg](a202410fundslogo-blue.jpg)

**Supplement dated May 1, 2026**<br>**to the Statement of Additional Information ("SAI")**<br>**dated June 30, 2025, of:**<br>**OSTERWEIS FUND – OSTFX** <br>**OSTERWEIS STRATEGIC INCOME FUND – OSTIX** <br>**OSTERWEIS GROWTH & INCOME FUND – OSTVX** <br>**OSTERWEIS OPPORTUNITY FUND – OSTGX** <br>

 **(the "Funds")**

a series of Professionally Managed Portfolios (the "Trust")

    

Effective April 3, 2026, Mr. Jason Hadler resigned from his roles as President and Principal Executive Officer of the Trust. All references in the SAI to Mr. Hadler should be disregarded. Also effective April 3, 2026, the Board of Trustees of the Trust appointed Mr. Craig Benton to serve as the new President and Principal Executive Officer of the Trust and Ms. Kathryn LaPlante-Johnson to serve as the new Treasurer, Vice President, Principal Financial and Accounting Officer.

Accordingly, the lower table in the "Trustees and Officers" section of the SAI is hereby removed and replaced with the following:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name, Year of Birth and Address** | **Position with<br>the Trust** | **Term of Office and Length of Time Served** | **Principal Occupation During Past Five Years** | **Number of Portfolios<br>in Fund Complex<br>Overseen by Trustees** | **Other Directorships Held During the Past 5 Years** |
| **Officers of the Trust** | **Officers of the Trust** | **Officers of the Trust** | **Officers of the Trust** | **Officers of the Trust** | **Officers of the Trust** |
| Craig Benton<br>(born 1985)<br>c/o U.S. Bank Global Fund Services<br>615 East Michigan Street<br>Milwaukee, WI 53202 | President & Principal Executive Officer | Indefinite Term; Since April 2026. | Assistant Vice President, U.S. Bank Global Fund Services since November 2007. | Not <br>Applicable. | Not <br>Applicable. |
| Elaine E. Richards<br>(born 1968)<br>c/o U.S. Bank Global Fund Services<br>615 East Michigan Street<br>Milwaukee, WI 53202 | Secretary & Vice President | Indefinite Term;<br>Since September 2024. | Senior Vice President, U.S. Bank Global Fund Services since July 2007. | Not <br>Applicable. | Not <br>Applicable. |

---

------

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| | | | | |
|:---|:---|:---|:---|:---|
| Kathryn E. LaPlante Johnson<br>(born 1998)<br>c/o U.S. Bank Global Fund Services<br>615 East Michigan Street<br>Milwaukee, WI 53202 | Treasurer, Vice President, Principal Financial Officer & Principal Accounting Officer | Indefinite Term; Since April 2026. | Mutual Funds Administrator, U.S. Bank Global Fund Services since June 2020. | Not <br>Applicable. |
| Nicholas A. Moll<br>(born 1998)<br>c/o U.S. Bank<br>Global Fund<br>Services<br>615 East Michigan<br>Street<br>Milwaukee, WI<br>53202 | Assistant Treasurer | Indefinite Term;<br>Since November 2024. | Mutual Funds<br>Administrator, U.S. Bank Global Fund Services since December 2022. | Not <br>Applicable. |
| Keana Hang<br>(born 1999)<br>c/o U.S. Bank Global Fund Services<br>615 East Michigan Street<br>Milwaukee, WI 53202 | Assistant Treasurer | Indefinite Term; Since May 2025. | Mutual Funds Administrator, U.S. Bank Global Fund Services since February 2022. | Not <br>Applicable. |
| Gazala Khan<br>(born 1969)<br>c/o U.S. Bank Global Fund Services<br>615 East Michigan Street Milwaukee, WI 53202 | Chief Compliance Officer<br>Anti-Money Laundering Officer | Indefinite Term;<br>Since November 2022. | Vice President and Compliance Officer, U.S. Bank Global Fund Services since July 2022; Chief Compliance Officer Matthews Asia Fund (May 2019-July 15, 2022); Chief Compliance Officer GS Trust/VIT (June 2009-May 2019); Vice President GSAM (May 2005-June 2009); Staff Accountant, SEC Office of Compliance Inspection and Examination (1999-2005). | Not <br>Applicable. |

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\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*

**Please retain this supplement with your SAI for future reference.**