# EDGAR Filing Document

**Accession Number:** 0001829774
**File Stem:** 0001580642-26-001608
**Filing Date:** 2026-3
**Character Count:** 9867
**Document Hash:** b1aa4ff5112a70311fb68afb920244c6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-26-001608.hdr.sgml**: 20260306

**ACCESSION NUMBER**: 0001580642-26-001608

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260306

**DATE AS OF CHANGE**: 20260306

**EFFECTIVENESS DATE**: 20260306

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** James Alpha Funds Trust
- **CENTRAL INDEX KEY:** 0001829774

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-249652
- **FILM NUMBER:** 26732245

**BUSINESS ADDRESS:**
- **STREET 1:** 515 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 888-814-8180

**MAIL ADDRESS:**
- **STREET 1:** 515 MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

## Series and Classes Contracts Data

### Easterly Income Opportunities Fund (Series ID: S000070607)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                  | Ticker Symbol | Class ID   |
| Easterly Income Opportunities Fund Class A  | JASVX         | C000224285 |
| Easterly Income Opportunities Fund Class C  | JSVCX         | C000224286 |
| Easterly Income Opportunities Fund Class R6 | JASSX         | C000224287 |
| Easterly Income Opportunities Fund Class I  | JSVIX         | C000224288 |

---

### Easterly Global Real Estate Fund (Series ID: S000070611)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                | Ticker Symbol | Class ID   |
| Easterly Global Real Estate Fund Class I  | JARIX         | C000224295 |
| Easterly Global Real Estate Fund Class C  | JACRX         | C000224296 |
| Easterly Global Real Estate Fund Class A  | JAREX         | C000224297 |
| Easterly Global Real Estate Fund Class R6 | JARSX         | C000224298 |

---

### Easterly Hedged Equity Fund (Series ID: S000070614)

---

|  |  |  |
|:---|:---|:---|
| Class Name                           | Ticker Symbol | Class ID   |
| Easterly Hedged Equity Fund Class A  | JDAEX         | C000224305 |
| Easterly Hedged Equity Fund Class C  | JDCEX         | C000224306 |
| Easterly Hedged Equity Fund Class I  | JDIEX         | C000224307 |
| Easterly Hedged Equity Fund Class R6 | JDSEX         | C000224308 |

---

### Easterly Snow Long/Short Opportunity Fund (Series ID: S000073424)

---

|  |  |
|:---|:---|
| Class Name                                         | Class ID   |
| Easterly Snow Long/Short Opportunity Fund Class C  | C000230311 |
| Easterly Snow Long/Short Opportunity Fund Class I  | C000230312 |
| Easterly Snow Long/Short Opportunity Fund Class R6 | C000230313 |
| Easterly Snow Long/Short Opportunity Fund Class A  | C000230314 |

---

### Easterly Snow Small Cap Value Fund (Series ID: S000073425)

---

|  |  |
|:---|:---|
| Class Name                                  | Class ID   |
| Easterly Snow Small Cap Value Fund Class C  | C000230315 |
| Easterly Snow Small Cap Value Fund Class I  | C000230316 |
| Easterly Snow Small Cap Value Fund Class R6 | C000230317 |
| Easterly Snow Small Cap Value Fund Class A  | C000230318 |

---

## Series and Classes Contracts Data

### Easterly Income Opportunities Fund (Series ID: S000070607)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000224285 | Easterly Income Opportunities Fund Class A  | JASVX           |
| C000224286 | Easterly Income Opportunities Fund Class C  | JSVCX           |
| C000224287 | Easterly Income Opportunities Fund Class R6 | JASSX           |
| C000224288 | Easterly Income Opportunities Fund Class I  | JSVIX           |

### Easterly Global Real Estate Fund (Series ID: S000070611)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000224295 | Easterly Global Real Estate Fund Class I  | JARIX           |
| C000224296 | Easterly Global Real Estate Fund Class C  | JACRX           |
| C000224297 | Easterly Global Real Estate Fund Class A  | JAREX           |
| C000224298 | Easterly Global Real Estate Fund Class R6 | JARSX           |

### Easterly Hedged Equity Fund (Series ID: S000070614)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000224305 | Easterly Hedged Equity Fund Class A  | JDAEX           |
| C000224306 | Easterly Hedged Equity Fund Class C  | JDCEX           |
| C000224307 | Easterly Hedged Equity Fund Class I  | JDIEX           |
| C000224308 | Easterly Hedged Equity Fund Class R6 | JDSEX           |

### Easterly Snow Long/Short Opportunity Fund (Series ID: S000073424)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000230311 | Easterly Snow Long/Short Opportunity Fund Class C  |  |
| C000230312 | Easterly Snow Long/Short Opportunity Fund Class I  |  |
| C000230313 | Easterly Snow Long/Short Opportunity Fund Class R6 |  |
| C000230314 | Easterly Snow Long/Short Opportunity Fund Class A  |  |

### Easterly Snow Small Cap Value Fund (Series ID: S000073425)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000230315 | Easterly Snow Small Cap Value Fund Class C  |  |
| C000230316 | Easterly Snow Small Cap Value Fund Class I  |  |
| C000230317 | Easterly Snow Small Cap Value Fund Class R6 |  |
| C000230318 | Easterly Snow Small Cap Value Fund Class A  |  |

**James Alpha Funds Trust d/b/a EASTERLY FUNDS TRUST**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**FUND** | &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;**Class C** | &nbsp;&nbsp;**Class I** | &nbsp;&nbsp;**Class R6** |
| &nbsp;&nbsp;Easterly Global Real Estate Fund | &nbsp;&nbsp;JAREX | &nbsp;&nbsp;JACRX | &nbsp;&nbsp;JARIX | &nbsp;&nbsp;JARSX |
| &nbsp;&nbsp;Easterly Hedged Equity Fund | &nbsp;&nbsp;JDAEX | &nbsp;&nbsp;JDCEX | &nbsp;&nbsp;JDIEX | &nbsp;&nbsp;JDSEX |
| &nbsp;&nbsp;Easterly Snow Small Cap Value Fund | &nbsp;&nbsp;SNWAX | &nbsp;&nbsp;SNWCX | &nbsp;&nbsp;SNWIX | &nbsp;&nbsp;SNWRX |
| &nbsp;&nbsp;Easterly Snow Long/Short Opportunity Fund | &nbsp;&nbsp;SNOAX | &nbsp;&nbsp;SNOCX | &nbsp;&nbsp;SNOIX | &nbsp;&nbsp;SNORX |
| &nbsp;&nbsp;Easterly Income Opportunities Fund | &nbsp;&nbsp;JASVX | &nbsp;&nbsp;JSVCX | &nbsp;&nbsp;JSVIX | &nbsp;&nbsp;JASSX |

---

(each a "Fund" and collectively the "Funds")

**Supplement dated March 6, 2026 to the Prospectus of the Funds dated December 29, 2025**

**This Supplement updates and supersedes any contrary information contained in the Prospectus, Summary Prospectuses, and Statement of Additional Information.**

Reference is made to the section entitled "**APPENDIX A**", subsection "**Intermediary-Specific Sales Charge Waivers and Discounts**", in the Prospectus. Effective immediately, the following replaces the corresponding disclosure in this section:

**Robert W. Baird & Co. ("Baird"):**

**Front-End Sales Charge Waivers on Investors A-shares Available at Baird**

* Shares purchased through reinvestment of capital gains distributions and
dividend reinvestment when purchasing shares of the same fund

* Shares purchased by employees and registered representatives of Baird
or its affiliates and their family members as designated by Baird

* Shares purchased within 90 days following a redemption from a Easterly
Fund, provided (1) the redemption and purchase occur within the purchaser's Baird household and (2) the redeemed shares were subject
to a front-end or deferred sales charge (known as rights of reinstatement)

* A shareholder in the Fund's Investor C Shares will have their share
converted at net asset value to Investor A shares of the same fund if the shares are no longer subject to a contingent deferred sales
charge ("CDSC") and the conversion is in line with the policies and procedures of Baird

* Employer-sponsored retirement plans or charitable accounts in a transactional
brokerage account at Baird, including 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension
plans and defined benefit plans. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs
or SAR-SEPs

**CDSC Waivers on Investor A and C shares Available at Baird**

* Shares sold due to death or disability of the shareholder

* Shares sold as part of a systematic withdrawal plan as described in the
Fund's Prospectus

* Shares bought due to returns of excess contributions from an IRA Account

* Shares sold as part of a required minimum distribution for IRA and retirement
accounts due to the shareholder reaching the qualified age based on applicable Internal Revenue Service regulations as described in the
Fund's prospectus

* Shares sold to pay Baird fees but only if the transaction is initiated
by Baird

* Shares acquired through a right of reinstatement

**Front-End Sales Charge Discounts Available at Baird: Breakpoints and/or Rights of Accumulations**

* Breakpoints as described in this prospectus

* Rights of accumulations which entitles shareholders to breakpoint discounts
will be automatically calculated based on the aggregated holding of Easterly assets held by accounts within the purchaser's household
at Baird. Eligible Easterly assets not held at Baird may be included in the rights of accumulations calculation only if the shareholder
notifies his or her financial advisor about such assets

* Letters of Intent (LOI) allow for breakpoint discounts based on anticipated
purchases of Easterly through Baird, over a 13-month period of time

\*\*\*

***You should read this Supplement in conjunction with the Prospectus, Summary Prospectuses, and Statement of Additional Information, each dated December 29, 2025. Please retain this Supplement for future reference.***

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