# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0000894189-23-000059
**Filing Date:** 2023-1
**Character Count:** 2376
**Document Hash:** 2b845015744ca8736ed1bc04fb0de7a2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-23-000059.hdr.sgml**: 20230104

**ACCESSION NUMBER**: 0000894189-23-000059

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230104

**DATE AS OF CHANGE**: 20230103

**EFFECTIVENESS DATE**: 20230104

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVISORS SERIES TRUST
- **CENTRAL INDEX KEY:** 0001027596
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-17391
- **FILM NUMBER:** 23503960

**BUSINESS ADDRESS:**
- **STREET 1:** U.S BANCORP FUND SERVICES, LLC
- **STREET 2:** 615 E MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-765-5340

**MAIL ADDRESS:**
- **STREET 1:** 615 E MICHIGAN STREET
- **STREET 2:** MK-WI-LC2
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Pzena International Small Cap Value Fund (Series ID: S000062254)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000201595 | Investor Class      | PZVIX           |
| C000201596 | Institutional Class | PZIIX           |

**Pzena International Small Cap Value Fund**

**Investor Class PZVIX**

**Institutional Class PZIIX**

(the "Fund")

 **a series of Advisors Series Trust (the "Trust")**

**Supplement dated January 3, 2023 to the**

**Summary Prospectus dated June 28, 2022**

Effective January 1, 2023, Jason Doctor began serving as a co-portfolio manager of the Pzena International Small Cap Value Fund. Also effective January 1, 2023, Allison Fisch is no longer a portfolio manager of the Pzena International Small Cap Value Fund.

***Accordingly, the "Portfolio Managers" information disclosed in the "Management" section of the Summary Prospectus is amended and restated as follows:***

*Portfolio Managers*. Mr. Matthew J. Ring (Principal and Portfolio Manager) and Mr. Jason Doctor (Principal and Portfolio Manager) are the portfolio managers primarily responsible for the day-to-day management of the International Small Cap Fund's portfolio. Mr. Ring has managed the Fund since its inception in July 2018, and Mr. Doctor has managed the Fund since January 2023.

**Please retain this supplement with your Summary Prospectus**

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