Bridge Builder Tax Managed Small/Mid Cap Fund (null) fond

The fund invests at least 80% of its net assets (plus the amount of borrowings for investment purposes) in the securities of small- and mid-capitalization companies and other instruments, such as certain investment companies, with economic characteristics that seek to track the performance of securities of small- and mid-capitalization companies. It may also invest in other investment companies, including other open-end or closed-end investment companies and ETFs that have characteristics that are consistent with the fund’s investment objective.