# EDGAR Filing Document

**Accession Number:** 0001110502
**File Stem:** 0001580642-23-001706
**Filing Date:** 2023-3
**Character Count:** 5737
**Document Hash:** 485f23a50bf605a3232c4bec930a62c2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-23-001706.hdr.sgml**: 20230324

**ACCESSION NUMBER**: 0001580642-23-001706

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230324

**DATE AS OF CHANGE**: 20230324

**EFFECTIVENESS DATE**: 20230324

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HUSSMAN INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0001110502
- **IRS NUMBER:** 522226627
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-35342
- **FILM NUMBER:** 23759492

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3403

**MAIL ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Hussman Strategic Growth Fund (Series ID: S000001544)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000004198 | Hussman Strategic Growth Fund | HSGFX           |

March 24, 2023

HUSSMAN STRATEGIC GROWTH FUND

TICKER SYMBOL: HSGFX

(a series of Hussman Investment Trust)

 

**Supplement to Summary Prospectus dated November 1, 2022**

The Board of Trustees of the Hussman Strategic Growth Fund (the "Fund") has approved removing the redemption fee from the Fund effective March 31, 2023 as it believes it is no longer necessary to dissuade market timing and short-term trading in the Fund. Any redemption from the Fund (or exchange out of the Fund) with a trade date of April 1, 2023 or after will not be assessed a redemption fee, regardless of how long the shares were held.

Effective April 1, 2023, the fee table on page 1 of the Summary Prospectus is revised as follows:

**WHAT ARE THE FUND'S FEES AND EXPENSES?** 

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Shareholder Fees** (fees paid directly from your investment) |  |
| &nbsp;&nbsp;Maximum Sales Charge (Load) Imposed on Purchases |  |
| &nbsp;&nbsp;Maximum Deferred Sales Charge (Load) |  |
| &nbsp;&nbsp;Maximum Sales Charge (Load) Imposed on Reinvested Dividends |  |
| &nbsp;&nbsp;Redemption Fee (as a percentage of amount redeemed) |  |
| &nbsp;&nbsp;Exchange Fee (as a percentage of amount exchanged) |  |
| &nbsp;&nbsp;Wire Transfer Fee | &nbsp;&nbsp;$15 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;**Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) |
| &nbsp;&nbsp;Management Fees | &nbsp;&nbsp;0.90% |
| &nbsp;&nbsp;Distribution (12b-1) Fees |  |
| &nbsp;&nbsp;Other Expenses | &nbsp;&nbsp;0.24% |
| &nbsp;&nbsp;Acquired Fund Fees and Expenses | &nbsp;&nbsp; 0.06%<sup>(1)</sup> |
| &nbsp;&nbsp;Total Annual Fund Operating Expenses | &nbsp;&nbsp; 1.20%<sup>(2)</sup> |
| &nbsp;&nbsp;Fee Recoupment | &nbsp;&nbsp;0.01% |
| &nbsp;&nbsp;Total Annual Fund Operating Expenses After Fee Recoupment | &nbsp;&nbsp; 1.21%<sup>(3)</sup> |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Acquired Fund Fees and Expenses represent fees and
expenses incurred indirectly by the Fund on investments in shares of money market mutual funds or exchange-traded funds.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Total Annual Fund Operating Expenses will differ from
the Fund's ratio of total expenses to average net assets as presented in the Fund's Financial Highlights because operating
expenses of the Fund as presented in the Financial Highlights do not include Acquired Fund Fees and Expenses.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The investment adviser has contractually agreed that,
until November 1, 2023, it will waive its investment advisory fees and/or absorb or reimburse other Fund operating expenses to the extent
necessary to limit the Fund's annual operating expenses (excluding Acquired Fund Fees and Expenses, brokerage commissions, taxes,
interest expense and any extraordinary expenses) to an amount not exceeding 1.15% of the Fund's average daily net assets. Under
the terms of this agreement, the Fund is obligated to reimburse the investment adviser the amount of advisory fees previously waived and
Fund expenses previously absorbed or reimbursed by the investment adviser for a period of three years from the date such fees or expenses
were waived, absorbed or reimbursed, but only if such reimbursement does not cause the Fund's operating expenses (after reimbursement
by the Fund is taken into account) to exceed the lesser of: (i) the expense limitation in effect at the time such fees and expenses were
waived, absorbed or reimbursed by the investment adviser; and (ii) the expense limitation in effect at the time the investment adviser
seeks reimbursement. This agreement may not be terminated by the investment adviser without the approval of the Board of Trustees of the
Trust. The investment adviser may agree to continue after November 1, 2023 the current arrangement to limit the Fund's expenses
or to implement a similar arrangement, but it is not obligated to do so. During the June 30, 2022 fiscal year, the investment adviser
recouped from the Fund $18,924 of previous fee reductions.

**Please keep this supplement for future reference.**