# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0000894189-26-000202
**Filing Date:** 2026-1
**Character Count:** 3089
**Document Hash:** 5dafe1ec7080c03806f0e37d8e580745
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-000202.hdr.sgml**: 20260109

**ACCESSION NUMBER**: 0000894189-26-000202

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260109

**DATE AS OF CHANGE**: 20260109

**EFFECTIVENESS DATE**: 20260109

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVISORS SERIES TRUST
- **CENTRAL INDEX KEY:** 0001027596

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-17391
- **FILM NUMBER:** 26522098

**BUSINESS ADDRESS:**
- **STREET 1:** U.S BANCORP FUND SERVICES, LLC
- **STREET 2:** 615 E MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 626-914-7235

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

## Series and Classes Contracts Data

### Medalist Partners MBS Total Return Fund (Series ID: S000041568)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | SEMMX         | C000129089 |
| Investor Class      | SEMPX         | C000129090 |
| Class A             | SEMOX         | C000164429 |

---

### Medalist Partners Short Duration Fund (Series ID: S000044807)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | SEMIX         | C000139162 |
| Investor Class      | SEMRX         | C000139163 |

---

## Series and Classes Contracts Data

### Medalist Partners MBS Total Return Fund (Series ID: S000041568)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000129089 | Institutional Class | SEMMX           |
| C000129090 | Investor Class      | SEMPX           |
| C000164429 | Class A             | SEMOX           |

### Medalist Partners Short Duration Fund (Series ID: S000044807)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000139162 | Institutional Class | SEMIX           |
| C000139163 | Investor Class      | SEMRX           |

Filed Pursuant to Rule 497(e)

Registration No. 333-17391; 811-07959

---

| | |
|:---|:---|
| **Medalist Partners MBS Total Return Fund** | **Medalist Partners MBS Total Return Fund** |
| **Class A** | **SEMOX** |
| **Institutional Class** | **SEMMX** |
| **Investor Class** | **SEMPX** |
| **Medalist Partners Short Duration Fund** | **Medalist Partners Short Duration Fund** |
| **Institutional Class** | **SEMIX** |
| **Investor Class** | **SEMRX** |

---

(Each a "Fund," together, the "Funds")

**Supplement dated January 9, 2026 to the**

**Statement of Additional Information ("SAI") dated March 30, 2025**

Effective December 31, 2025, Joe Redwine has retired his position as an Independent Trustee of the Trust. All references to Mr. Redwine are removed from relevant sections of the SAI.

**Please retain this Supplement with your Statement of Additional Information**

<br>