# EDGAR Filing Document

**Accession Number:** 0001027596
**File Stem:** 0000894189-26-000143
**Filing Date:** 2026-1
**Character Count:** 4512
**Document Hash:** 56885b80ee2ae43f679c528acbedd8b8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-000143.hdr.sgml**: 20260107

**ACCESSION NUMBER**: 0000894189-26-000143

**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:** 26516385

**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

### Pzena Mid Cap Value Fund (Series ID: S000044707)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Investor Class      | PZVMX         | C000138961 |
| Institutional Class | PZIMX         | C000138962 |

---

### Pzena Emerging Markets Value Fund (Series ID: S000044708)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Investor Class      | PZVEX         | C000138963 |
| Institutional Class | PZIEX         | C000138964 |

---

### Pzena Small Cap Value Fund (Series ID: S000053713)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Investor Class      | PZVSX         | C000168873 |
| Institutional Class | PZISX         | C000168874 |

---

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

---

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

---

### Pzena International Value Fund (Series ID: S000072390)

---

|  |  |  |
|:---|:---|:---|
| Class Name    | Ticker Symbol | Class ID   |
| Institutional | PZINX         | C000228587 |
| Investor      | PZVNX         | C000228588 |

---

## Series and Classes Contracts Data

### Pzena Mid Cap Value Fund (Series ID: S000044707)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000138961 | Investor Class      | PZVMX           |
| C000138962 | Institutional Class | PZIMX           |

### Pzena Emerging Markets Value Fund (Series ID: S000044708)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000138963 | Investor Class      | PZVEX           |
| C000138964 | Institutional Class | PZIEX           |

### Pzena Small Cap Value Fund (Series ID: S000053713)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000168873 | Investor Class      | PZVSX           |
| C000168874 | Institutional Class | PZISX           |

### 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 Value Fund (Series ID: S000072390)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000228587 | Institutional | PZINX           |
| C000228588 | Investor      | PZVNX           |

Filed Pursuant to Rule 497(e)

Registration No. 333-17391; 811-07959

**PZENA MID CAP VALUE FUND**

**Investor Class PZVMX**

**Institutional Class PZIMX**

**PZENA SMALL CAP VALUE FUND**

**Investor Class PZVSX** 

**Institutional Class PZISX** 

**PZENA EMERGING MARKETS VALUE FUND**

**Investor Class PZVEX** 

**Institutional Class PZIEX**

 **PZENA INTERNATIONAL SMALL CAP VALUE FUND**

**Investor Class PZVIX**

**Institutional Class PZIIX** 

**PZENA INTERNATIONAL VALUE FUND**

**Investor Class PZVNX**

**Institutional Class PZINX**

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

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

**Statement of Additional Information ("SAI") dated June 28, 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>