Filed with the U.S. Securities and Exchange Commission on August 7, 2020

1933 Act Registration File No. 333-17391

1940 Act File No. 811-07959

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N‑1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933	[X]
Pre‑Effective Amendment No.	[ ]
Post‑Effective Amendment No. 978	[X]
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940	[X]
Amendment No. 980	[X]

(Check appropriate box or boxes.)

ADVISORS SERIES TRUST

(Exact Name of Registrant as Specified in Charter)

615 East Michigan Street

Milwaukee, Wisconsin 53202

(Address of Principal Executive Offices) (Zip Code)

(Registrant’s Telephone Numbers, Including Area Code) (626) 914-7363

Jeffrey T. Rauman, President and Chief Executive Officer

Advisors Series Trust

c/o U.S. Bank Global Fund Services

777 East Wisconsin Avenue

Milwaukee, Wisconsin 53202

(Name and Address of Agent for Service)

Copies to:

Domenick Pugliese, Esq.

Sullivan & Worcester LLP

1633 Broadway, 32nd Floor

New York, New York 10019

It is proposed that this filing will become effective

[x]	immediately upon filing pursuant to paragraph (b)
[ ]	on______________ pursuant to paragraph (b)
[ ]	60 days after filing pursuant to paragraph (a)(1)
[ ]	on  pursuant to paragraph (a)(1)
[ ]	75 days after filing pursuant to paragraph (a)(2)
[ ]	on  pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box

[ ] this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

Explanatory Note: This Post-Effective Amendment No. 978 to the Registration Statement of Advisors Series Trust (the “Trust”) hereby incorporates Parts A, B and C from the Trust's PEA 975 on Form N-1A filed July 27, 2020. This PEA 978 is filed for the sole purpose of submitting the XBRL exhibits for the risk/return summary first provided in PEA 975 to the Trust's Registration Statement with respect to the Trust’s series: Aasgard Dividend Growth Small & Mid-Cap Fund.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended (the “Securities Act”) and the Investment Company Act of 1940, as amended, the Registrant certifies that this Post-Effective Amendment (“PEA”) No. 978meets all of the requirements for effectiveness under Rule 485(b) and the Registrant has duly caused this PEA No. 978 to its Registration Statement on Form N-1A to be signed on its behalf by the undersigned, duly authorized, in the City of Milwaukee and State of Wisconsin, on the 7th day of August 2020.

Advisors Series Trust

By: /s/ Jeffrey T. Rauman

Jeffrey T. Rauman

President, Chief Executive Officer and Principal Executive Officer

Pursuant to the requirements of the Securities Act, this PEA No. 978 to its Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

Signature	Title	Date
Gail S. Duree*	Trustee	August 7, 2020
Gail S. Duree
David G. Mertens*	Trustee	August 7, 2020
David G. Mertens
Raymond B. Woolson*	Trustee	August 7, 2020
Raymond B. Woolson
Joe D. Redwine*	Trustee	August 7, 2020
Joe D. Redwine
/s/ Cheryl L. King	Vice President, Treasurer and	August 7, 2020
Cheryl L. King	Principal Financial Officer
/s/ Jeffrey T. Rauman	President, Chief Executive Officer	August 7, 2020
Jeffrey T. Rauman	and Principal Executive Officer
*By:/s/ Jeffrey T. Rauman		August 7, 2020
Jeffrey T. Rauman Attorney-In Fact pursuant to Power of Attorney

EXHIBIT LIST

Exhibit	Exhibit No.
Instance Document	EX-101.INS
Schema Document	EX-101.SCH
Calculation Linkbase Document	EX-101.CAL
Definition Linkbase Document	EX-101.DEF
Label Linkbase Document	EX-101.LAB
Presentation Linkbase Document	EX-101.PRE