Form 497K Bridge Builder Trust

Artisan Partners Limited Partnership (“Artisan Partners”) no longer manages their allocated portion of the Large Cap Value Fund and no longer serves as a sub-adviser to the Large Cap Value Fund. This change is not expected to have a material effect on the Large Cap Value Fund’s investment objective or principal investment strategies. Barrow, Hanley, Mewhinney & Strauss, LLC, LSV Asset Management, Russell Investment Management, LLC, T. Rowe Price Associates Inc., and Wellington Management Company, LLP will continue to serve as sub-advisers to the Large Cap Value Fund.

Additionally, the Board of Trustees of the Bridge Builder Trust (the “Trust”) has approved an investment sub-advisory agreement among Olive Street Investment Advisers, LLC, Dodge & Cox and the Trust, pursuant to which Dodge & Cox is expected to begin serving as a sub-adviser to an allocated portion of the Large Cap Value Fund (“Dodge & Cox’s Allocated Portion of the Large Cap Value Fund”) on or around June 23, 2026. More detailed information regarding Dodge & Cox and the portfolio managers who will be responsible for the day-to-day management of Dodge & Cox’s Allocated Portion of the Large Cap Value Fund will be included in an additional supplement to the Summary Prospectus, Prospectus and SAI on or around June 23, 2026.