# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0000894189-26-000141
**Filing Date:** 2026-1
**Character Count:** 4931
**Document Hash:** c8555026a77759fad10d3c78c271939d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-000141.hdr.sgml**: 20260107

**ACCESSION NUMBER**: 0000894189-26-000141

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260107

**DATE AS OF CHANGE**: 20260107

**EFFECTIVENESS DATE**: 20260107

**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:** 26516345

**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

### PIA BBB Bond Fund (Series ID: S000005064)

---

|  |  |  |
|:---|:---|:---|
| Class Name                        | Ticker Symbol | Class ID   |
| Managed Account Completion Shares | PBBBX         | C000013849 |

---

### PIA Short-Term Securities Fund (Series ID: S000005065)

---

|  |  |  |
|:---|:---|:---|
| Class Name    | Ticker Symbol | Class ID   |
| Advisor Class | PIASX         | C000013850 |

---

### PIA MBS Bond Fund (Series ID: S000005067)

---

|  |  |  |
|:---|:---|:---|
| Class Name                        | Ticker Symbol | Class ID   |
| Managed Account Completion Shares | PMTGX         | C000013852 |

---

### PIA High Yield Fund (Series ID: S000029824)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PHYSX         | C000091708 |

---

### PIA High Yield (MACS) Fund (Series ID: S000029825)

---

|  |  |  |
|:---|:---|:---|
| Class Name                        | Ticker Symbol | Class ID   |
| Managed Account Completion Shares | PIAMX         | C000091709 |

---

## Series and Classes Contracts Data

### PIA BBB Bond Fund (Series ID: S000005064)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000013849 | Managed Account Completion Shares | PBBBX           |

### PIA Short-Term Securities Fund (Series ID: S000005065)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000013850 | Advisor Class | PIASX           |

### PIA MBS Bond Fund (Series ID: S000005067)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000013852 | Managed Account Completion Shares | PMTGX           |

### PIA High Yield Fund (Series ID: S000029824)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000091708 | Institutional Class | PHYSX           |

### PIA High Yield (MACS) Fund (Series ID: S000029825)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000091709 | Managed Account Completion Shares | PIAMX           |

Filed Pursuant to Rule 497(e)

Registration No. 333-17391; 811-07959

**PIA BBB Bond Fund**

**Managed Account Completion Shares (MACS) (PBBBX)**

**PIA MBS Bond Fund**

**Managed Account Completion Shares (MACS) (PMTGX)**

**PIA High Yield (MACS) Fund**

**Managed Account Completion Shares (MACS) (PIAMX)**

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

**Supplement dated January 7, 2026 to the**

**Statement of Additional Information ("SAI") dated March 31, 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**

------

Filed Pursuant to Rule 497(e)

Registration No. 333-17391; 811-07959

**PIA High Yield Fund**

**Institutional Class (PHYSX)**

(the "Fund")

**Supplement dated January 7, 2026 to the**

**Statement of Additional Information ("SAI") dated March 31, 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**

------

Filed Pursuant to Rule 497(e)

Registration No. 333-17391; 811-07959

**PIA Short-Term Securities Fund**

**Advisor Class (PIASX)**

(the "Fund")

**Supplement dated January 7, 2026 to the**

**Statement of Additional Information ("SAI") dated March 31, 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**

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