# EDGAR Filing Document

**Accession Number:** 0001511699
**File Stem:** 0000894189-25-006625
**Filing Date:** 2025-8
**Character Count:** 6416
**Document Hash:** e89aee121ad2ca4d94e3ba4c2ae656a3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-006625.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0000894189-25-006625

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**FILER**: 

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

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-172080
- **FILM NUMBER:** 251281537

**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

### Jackson Square SMID-Cap Growth Fund (Series ID: S000052863)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Investor Class      | JSMVX         | C000166271 |
| Institutional Class | JSMTX         | C000166272 |
| IS Class            | DCGTX         | C000166273 |

---

### Jackson Square Large-Cap Growth Fund (Series ID: S000052864)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Investor Class      | JSPJX         | C000166274 |
| Institutional Class | JSPIX         | C000166275 |
| IS Class            | DPLGX         | C000166276 |

---

## Series and Classes Contracts Data

### Jackson Square SMID-Cap Growth Fund (Series ID: S000052863)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000166271 | Investor Class      | JSMVX           |
| C000166272 | Institutional Class | JSMTX           |
| C000166273 | IS Class            | DCGTX           |

### Jackson Square Large-Cap Growth Fund (Series ID: S000052864)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000166274 | Investor Class      | JSPJX           |
| C000166275 | Institutional Class | JSPIX           |
| C000166276 | IS Class            | DPLGX           |

FiledpursuanttoRule497(e)

RegistrationNos. 333-172080; 811-22525

**MANAGEDPORTFOLIOSERIES**

**Jackson Square Large-Cap Growth Fund** 

Investor Class (JSPJX)

Institutional Class (JSPIX)

IS Class (DPLGX)

**Jackson Square SMID-Cap Growth Fund** 

Investor Class (JSMVX)

Institutional Class (JSMTX)

IS Class (DCGTX)

**(each, a "Fund" and together, the "Funds")**

***SupplementdatedAugust 29, 2025,totheSummaryProspectus,***

***Prospectus and Statement of Additional Information,***

***eachdated February 28, 2025, assupplemented***

![floatingimage_0a.jpg](floatingimage_0a.jpg)

At a meeting held on August 5, 2025, based upon the recommendation of Jackson Square Partners,

LLC, the Funds' investment adviser (the "Adviser"), the Board of Trustees of Managed Portfolio Series

(the "Trust")approvedanAgreementandPlanofReorganization(the"PlanofReorganization")

providingfor the proposed reorganization of each of the Funds with and into the Spyglass Growth Fund

(the "Acquiring Fund"), a series of Manager Directed Portfolios (each, a "Reorganization," and

together, the "Reorganizations").

Each Reorganization issubjecttoapprovalbyshareholdersoftheapplicableFund, and shareholders of

each Fund will vote separately on the applicable Reorganization. If shareholders of a Fund approve the

Reorganization, shares of the Fund would be exchanged for shares of the Acquiring Fund equal in

value to the shares of the Fund held immediately prior to the applicable Reorganization.

Spyglass Capital Management LLC ("Spyglass") serves as the investment adviser to the Acquiring

Fund. After the Reorganizations, Spyglass will continue to serve as the Acquiring Fund's investment

adviser. The Funds and the Acquiring Fund have identical investment objectives. The Funds and the

Acquiring Fund also invest primarily in common stocks of growth-oriented companies although the

permissible market capitalization ranges of each Fund differ. In particular, the Acquiring Fund invests

in small-cap and mid-cap companies with a smaller market capitalization than companies typically held

by the Jackson Square Large-Cap Growth Fund.

The investment advisory fee rate payable by the Acquiring Fund is greater than the investment advisory

fee rate payable by each of the Funds. In addition, under the terms of the current expense limitation

agreement applicable to the Acquiring Fund, the annual fund operating expenses payable by

shareholders of each class of the Funds, except for Investor Class shareholders of the Jackson Square

SMID-Cap Growth Fund, are expected to go up in connection with the Reorganizations. The expense

limitation agreement in place for the Acquiring Fund renews automatically for additional one-year

periods upon approval by the Board of Trustees of Manager Directed Portfolios (the "MDP Board")

unless terminated with the consent of the MDP Board. If the expense limitation agreement applicable to

the Acquiring Fund were to terminate, the expenses payable by shareholders of the Funds following the

Reorganizations would increase further.

The special joint meeting of shareholders of the Funds is expected to be held on October 24, 2025, and

each Reorganization,ifapproved,isexpectedtooccur during the fourth quarter of 2025.A notice of the

joint special meeting of shareholders and a combined proxy statement/prospectus (the "Proxy

Statement") for the Reorganizations, seeking Fund shareholder approval of the Plan of Reorganization,

will be sent in the near future to shareholders of each Fund. The Proxy Statement will contain

important information about the Reorganizations and the Acquiring Fund, including information about

the Acquiring Fund's investment strategies, risks, fees, and expenses.

TheReorganizationswillnotaffectthe value of your account's investment in the respective Fund at the

time of the Reorganization. The Reorganizations are expectedtobetreatedastax-free

reorganizationsforfederalincometaxpurposes.

Fund shareholders may continue to purchase and sell shares of the Funds until the last business day

before the closing of the Reorganization, subject to the limitations described in the Prospectus.

**\* \* \* \* \***

***Please retain this supplement for your reference***