Rebuild America ETF prospectus takes effect at 0.65%
Advisor Managed Portfolios on Monday, September 14, 2026, made effective a Rule 485(b) amendment registering Rebuild America ETF BUIL at a 0.65% fee.
Rebuild America ETF BUIL, an actively managed U.S. equity fund, is expected to hold about 15 to 25 U.S.-listed stocks and ADRs of companies that, in the adviser's or sub-adviser's opinion at the time of investment, derive at least 50% of revenue from, or dedicate at least 50% of assets to, infrastructure development that directly benefits the United States. Health care, education, and civic systems sit on that qualifying list with energy, water, waste, communications, transportation, construction, engineering, and materials.
The fund seeks capital appreciation. Under normal circumstances it invests at least 80% of net assets, plus borrowings for investment purposes, in those companies. It is non-diversified and will invest more than 25% of total assets in the infrastructure group of industries. It may hold issuers of any capitalization, with large- and mid-cap names the expected core. Estimated annual portfolio turnover is 100%. Holdings are screened on free cash flow multiples, earnings and revenue growth, and margin durability to exclude low-quality names that benefit only incidentally from U.S. infrastructure development.
Post-Effective Amendment No. 111, a Rule 485(b) prospectus dated September 14, answers staff comments on the series Advisor Managed Portfolios first added in a Rule 485(a) amendment in June. As of that date the fund had not commenced operations. Cboe BZX Exchange is the listing venue. The trust filed Form 8-A12B the same day, registering the shares for listing there. A Rule 497(k) summary prospectus filed Monday is the short-form companion and adds nothing new.
Shareholders pay a unitary management fee of 0.65% of average daily net assets. Distribution and service (12b-1) fees are none; other expenses are estimated at 0.00% for the current fiscal year; total annual fund operating expenses are 0.65%. The June registration had already set the management fee at 0.65% and left other expenses and the total blank. Monday's effective prospectus fills those lines in.
Sound Capital Solutions LLC is the investment adviser. River1 Asset Management LLC is the sub-adviser. Rob Haugen and Tony Tagliapietra, co-portfolio managers at River1, are named as the managers since inception in September 2026. River1 already runs Trenchless Fund ETF RVER, another actively managed equity series of the same trust, at the same 0.65% fee.
The investment objective may be changed by the board without shareholder approval, on written notice. Until the fund commences operations, Monday's prospectus is the governing document.
Frequently asked
What counts as an infrastructure company for this fund?
A company that, in the adviser's or sub-adviser's opinion at the time of investment, gets at least 50% of revenue from or dedicates at least 50% of assets to infrastructure development that directly benefits the United States.
How much will it cost?
A unitary management fee of 0.65% of average daily net assets, which is also the total annual operating expense.
Is the fund trading yet?
No, it had not commenced operations as of the prospectus date, and Cboe BZX Exchange is the listing venue.
Who runs it?
Sound Capital Solutions is the adviser and River1 Asset Management is the sub-adviser, with River1's Rob Haugen and Tony Tagliapietra as co-portfolio managers.
How much trading should investors expect?
Estimated annual portfolio turnover is 100%.