# EDGAR Filing Document

**Accession Number:** 0001618627
**File Stem:** 0001398344-23-000834
**Filing Date:** 2023-1
**Character Count:** 3863
**Document Hash:** 5b10035883d4ab8b040b9614bae73fab
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-23-000834.hdr.sgml**: 20230120

**ACCESSION NUMBER**: 0001398344-23-000834

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 14

**FILED AS OF DATE**: 20230120

**DATE AS OF CHANGE**: 20230120

**EFFECTIVENESS DATE**: 20230120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RBB Fund Trust
- **CENTRAL INDEX KEY:** 0001618627
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-200168
- **FILM NUMBER:** 23540865

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 609-731-6256

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PENN Capital Funds Trust
- **DATE OF NAME CHANGE:** 20140904

## Series and Classes Contracts Data

### Torray Fund (Series ID: S000079134)

---

|  |  |  |
|:---|:---|:---|
| Class Name  | Ticker Symbol | Class ID   |
| Torray Fund | TORYX         | C000240014 |

---

## Series and Classes Contracts Data

### Torray Fund (Series ID: S000079134)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000240014 | Torray Fund  | TORYX           |

?xml version="1.0" encoding="utf-8"?

**THE RBB FUND TRUST**

**Torray Fund (the "Fund")**

**(Ticker: TORYX)**

**Supplement dated January 20, 2023**

**to the Prospectus and Statement of Additional Information ("SAI") dated December 12, 2022**

This supplement serves as notification of, and provides information regarding, certain changes to the Fund effective as of January 1, 2023.

**1.** **New Name of Investment Adviser** 

The investment adviser to the Fund has changed its name from Torray LLC to Torray Investment Partners LLC. There have been no changes to the ownership or control persons of the Fund's investment adviser. As a result, all references to the name of the Fund's investment adviser in the prospectus and SAI should be updated accordingly.

**2.** **New Primary Benchmark** 

The primary benchmark index for the Fund has been changed from the Russell 1000 Value Index to the Morningstar US Large-Mid Cap Broad Value Index. Torray Investment Partners LLC has determined that the Morningstar US Large-Mid Cap Broad Value Index better reflects the Fund's investment strategy. The Morningstar US Large-Mid Cap Broad Value Index is designed to provide comprehensive, consistent representation of the large-mid cap value segment of the US equity market.

**3.** **Change in the Distributor** 

Quasar Distributors, LLC ("Quasar") has replaced Foreside Funds Distributors LLC ("Foreside") as the principal underwriter and distributor to the Fund. Accordingly, all references to Foreside in the prospectus and SAI should be updated accordingly. Quasar will act as distributor for the Fund and act as agent for the Fund in selling its shares to the public. Quasar is located at 111 East Kilbourn Avenue, Suite 2200, Milwaukee, Wisconsin 53202. Quasar will offer shares of the Fund on a continuous basis and may engage in advertising and solicitation activities in connection therewith. Quasar is not obligated to sell any certain number of shares of the Fund. Quasar will also review advertisements and act as liaison for broker-dealer relationships. Investors purchasing or redeeming shares of the Fund through another financial institution should read any materials and information provided by the financial institution to acquaint themselves with its procedures and any fees that the institution may charge.

If you have any questions, please call the Fund at 1-800-626-9769 (toll free).

**Investors should retain this supplement for future reference.**