<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/twentyfourf2filer">
  <schemaVersion>X0102</schemaVersion>
  <headerData>
    <submissionType>24F-2NT</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001027596</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <flags>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-1A</investmentCompanyType>
    </filerInfo>
  </headerData>
  <formData>
    <annualFilings>
      <annualFilingInfo>
        <item1>
          <nameOfIssuer>ADVISORS SERIES TRUST</nameOfIssuer>
          <addressOfIssuer>
            <street1>615 E Michigan Street</street1>
            <city>Milwaukee</city>
            <state>WI</state>
            <country>X1</country>
            <zipCode>53202</zipCode>
          </addressOfIssuer>
        </item1>
        <item2>
          <reportSeriesClass>
            <rptSeriesClassInfo>
              <seriesName>PIA BBB Bond Fund</seriesName>
              <seriesId>S000005064</seriesId>
              <classInfo>
                <className>Managed Account Completion Shares</className>
                <classId>C000013849</classId>
              </classInfo>
            </rptSeriesClassInfo>
          </reportSeriesClass>
        </item2>
        <item3>
          <investmentCompActFileNo>811-07959</investmentCompActFileNo>
          <securitiesActFileNumbers>
            <securitiesActFileNo>
              <fileNumber>333-17391</fileNumber>
            </securitiesActFileNo>
          </securitiesActFileNumbers>
        </item3>
        <item4>
          <lastDayOfFiscalYear>11/30/2025</lastDayOfFiscalYear>
          <isThisFormBeingFiledLate>false</isThisFormBeingFiledLate>
        </item4>
        <item5>
          <aggregateSalePriceOfSecuritiesSold>49536621.00</aggregateSalePriceOfSecuritiesSold>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>86515066.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>91356675.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>
          <totalAvailableRedemptionCredits>177871741.00</totalAvailableRedemptionCredits>
          <netSales>0.00</netSales>
          <redemptionCreditsAvailableForUseInFutureYears>(128335120.00)</redemptionCreditsAvailableForUseInFutureYears>
          <multiplierForDeterminingRegistrationFee>0.0001381</multiplierForDeterminingRegistrationFee>
          <registrationFeeDue>0.00</registrationFeeDue>
        </item5>
        <item6>
          <interestDue>0.00</interestDue>
        </item6>
        <item7>
          <totalOfRegistrationFeePlusAnyInterestDue>0.00</totalOfRegistrationFeePlusAnyInterestDue>
        </item7>
        <signature>
          <signature>/s/ Kevin J. Hayden</signature>
          <nameAndTitle>Kevin J. Hayden Vice President, Treasurer</nameAndTitle>
          <signatureDate>02/06/2026</signatureDate>
        </signature>
      </annualFilingInfo>
      <annualFilingInfo>
        <item1>
          <nameOfIssuer>ADVISORS SERIES TRUST</nameOfIssuer>
          <addressOfIssuer>
            <street1>615 E Michigan Street</street1>
            <city>Milwaukee</city>
            <state>WI</state>
            <country>X1</country>
            <zipCode>53202</zipCode>
          </addressOfIssuer>
        </item1>
        <item2>
          <reportSeriesClass>
            <rptSeriesClassInfo>
              <seriesName>PIA High Yield Fund</seriesName>
              <seriesId>S000029824</seriesId>
              <classInfo>
                <className>Institutional Class</className>
                <classId>C000091708</classId>
              </classInfo>
            </rptSeriesClassInfo>
          </reportSeriesClass>
        </item2>
        <item3>
          <investmentCompActFileNo>811-07959</investmentCompActFileNo>
          <securitiesActFileNumbers>
            <securitiesActFileNo>
              <fileNumber>333-17391</fileNumber>
            </securitiesActFileNo>
          </securitiesActFileNumbers>
        </item3>
        <item4>
          <lastDayOfFiscalYear>11/30/2025</lastDayOfFiscalYear>
          <isThisFormBeingFiledLate>false</isThisFormBeingFiledLate>
        </item4>
        <item5>
          <aggregateSalePriceOfSecuritiesSold>42472049.00</aggregateSalePriceOfSecuritiesSold>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>34320495.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>79691082.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>
          <totalAvailableRedemptionCredits>114011577.00</totalAvailableRedemptionCredits>
          <netSales>0.00</netSales>
          <redemptionCreditsAvailableForUseInFutureYears>(71539528.00)</redemptionCreditsAvailableForUseInFutureYears>
          <multiplierForDeterminingRegistrationFee>0.0001381</multiplierForDeterminingRegistrationFee>
          <registrationFeeDue>0.00</registrationFeeDue>
        </item5>
        <item6>
          <interestDue>0.00</interestDue>
        </item6>
        <item7>
          <totalOfRegistrationFeePlusAnyInterestDue>0.00</totalOfRegistrationFeePlusAnyInterestDue>
        </item7>
        <signature>
          <signature>/s/ Kevin J. Hayden</signature>
          <nameAndTitle>Kevin J. Hayden Vice President, Treasurer</nameAndTitle>
          <signatureDate>02/06/2026</signatureDate>
        </signature>
      </annualFilingInfo>
      <annualFilingInfo>
        <item1>
          <nameOfIssuer>ADVISORS SERIES TRUST</nameOfIssuer>
          <addressOfIssuer>
            <street1>615 E Michigan Street</street1>
            <city>Milwaukee</city>
            <state>WI</state>
            <country>X1</country>
            <zipCode>53202</zipCode>
          </addressOfIssuer>
        </item1>
        <item2>
          <reportSeriesClass>
            <rptSeriesClassInfo>
              <seriesName>PIA MBS Bond Fund</seriesName>
              <seriesId>S000005067</seriesId>
              <classInfo>
                <className>Managed Account Completion Shares</className>
                <classId>C000013852</classId>
              </classInfo>
            </rptSeriesClassInfo>
          </reportSeriesClass>
        </item2>
        <item3>
          <investmentCompActFileNo>811-07959</investmentCompActFileNo>
          <securitiesActFileNumbers>
            <securitiesActFileNo>
              <fileNumber>333-17391</fileNumber>
            </securitiesActFileNo>
          </securitiesActFileNumbers>
        </item3>
        <item4>
          <lastDayOfFiscalYear>11/30/2025</lastDayOfFiscalYear>
          <isThisFormBeingFiledLate>false</isThisFormBeingFiledLate>
        </item4>
        <item5>
          <aggregateSalePriceOfSecuritiesSold>26440614.00</aggregateSalePriceOfSecuritiesSold>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>19064138.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>231173848.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>
          <totalAvailableRedemptionCredits>250237986.00</totalAvailableRedemptionCredits>
          <netSales>0.00</netSales>
          <redemptionCreditsAvailableForUseInFutureYears>(223797372.00)</redemptionCreditsAvailableForUseInFutureYears>
          <multiplierForDeterminingRegistrationFee>0.0001381</multiplierForDeterminingRegistrationFee>
          <registrationFeeDue>0.00</registrationFeeDue>
        </item5>
        <item6>
          <interestDue>0.00</interestDue>
        </item6>
        <item7>
          <totalOfRegistrationFeePlusAnyInterestDue>0.00</totalOfRegistrationFeePlusAnyInterestDue>
        </item7>
        <signature>
          <signature>/s/ Kevin J. Hayden</signature>
          <nameAndTitle>Kevin J. Hayden Vice President, Treasurer</nameAndTitle>
          <signatureDate>02/06/2026</signatureDate>
        </signature>
      </annualFilingInfo>
      <annualFilingInfo>
        <item1>
          <nameOfIssuer>ADVISORS SERIES TRUST</nameOfIssuer>
          <addressOfIssuer>
            <street1>615 E Michigan Street</street1>
            <city>Milwaukee</city>
            <state>WI</state>
            <country>X1</country>
            <zipCode>53202</zipCode>
          </addressOfIssuer>
        </item1>
        <item2>
          <reportSeriesClass>
            <rptSeriesClassInfo>
              <seriesName>PIA Short-Term Securities Fund</seriesName>
              <seriesId>S000005065</seriesId>
              <classInfo>
                <className>Advisor Class</className>
                <classId>C000013850</classId>
              </classInfo>
            </rptSeriesClassInfo>
          </reportSeriesClass>
        </item2>
        <item3>
          <investmentCompActFileNo>811-07959</investmentCompActFileNo>
          <securitiesActFileNumbers>
            <securitiesActFileNo>
              <fileNumber>333-17391</fileNumber>
            </securitiesActFileNo>
          </securitiesActFileNumbers>
        </item3>
        <item4>
          <lastDayOfFiscalYear>11/30/2025</lastDayOfFiscalYear>
          <isThisFormBeingFiledLate>false</isThisFormBeingFiledLate>
        </item4>
        <item5>
          <aggregateSalePriceOfSecuritiesSold>36168078.00</aggregateSalePriceOfSecuritiesSold>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>12273297.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>39260717.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>
          <totalAvailableRedemptionCredits>51534014.00</totalAvailableRedemptionCredits>
          <netSales>0.00</netSales>
          <redemptionCreditsAvailableForUseInFutureYears>(15365936.00)</redemptionCreditsAvailableForUseInFutureYears>
          <multiplierForDeterminingRegistrationFee>0.0001381</multiplierForDeterminingRegistrationFee>
          <registrationFeeDue>0.00</registrationFeeDue>
        </item5>
        <item6>
          <interestDue>0.00</interestDue>
        </item6>
        <item7>
          <totalOfRegistrationFeePlusAnyInterestDue>0.00</totalOfRegistrationFeePlusAnyInterestDue>
        </item7>
        <signature>
          <signature>/s/ Kevin J. Hayden</signature>
          <nameAndTitle>Kevin J. Hayden Vice President, Treasurer</nameAndTitle>
          <signatureDate>02/06/2026</signatureDate>
        </signature>
      </annualFilingInfo>
      <annualFilingInfo>
        <item1>
          <nameOfIssuer>ADVISORS SERIES TRUST</nameOfIssuer>
          <addressOfIssuer>
            <street1>615 E Michigan Street</street1>
            <city>Milwaukee</city>
            <state>WI</state>
            <country>X1</country>
            <zipCode>53202</zipCode>
          </addressOfIssuer>
        </item1>
        <item2>
          <reportSeriesClass>
            <rptSeriesClassInfo>
              <seriesName>PIA High Yield (MACS) Fund</seriesName>
              <seriesId>S000029825</seriesId>
              <classInfo>
                <className>Managed Account Completion Shares</className>
                <classId>C000091709</classId>
              </classInfo>
            </rptSeriesClassInfo>
          </reportSeriesClass>
        </item2>
        <item3>
          <investmentCompActFileNo>811-07959</investmentCompActFileNo>
          <securitiesActFileNumbers>
            <securitiesActFileNo>
              <fileNumber>333-17391</fileNumber>
            </securitiesActFileNo>
          </securitiesActFileNumbers>
        </item3>
        <item4>
          <lastDayOfFiscalYear>11/30/2025</lastDayOfFiscalYear>
          <isThisFormBeingFiledLate>false</isThisFormBeingFiledLate>
        </item4>
        <item5>
          <aggregateSalePriceOfSecuritiesSold>24012641.00</aggregateSalePriceOfSecuritiesSold>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>4958595.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>0.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>
          <totalAvailableRedemptionCredits>4958595.00</totalAvailableRedemptionCredits>
          <netSales>19054046.00</netSales>
          <redemptionCreditsAvailableForUseInFutureYears>0.00</redemptionCreditsAvailableForUseInFutureYears>
          <multiplierForDeterminingRegistrationFee>0.0001381</multiplierForDeterminingRegistrationFee>
          <registrationFeeDue>2631.36</registrationFeeDue>
        </item5>
        <item6>
          <interestDue>0.00</interestDue>
        </item6>
        <item7>
          <totalOfRegistrationFeePlusAnyInterestDue>2631.36</totalOfRegistrationFeePlusAnyInterestDue>
        </item7>
        <signature>
          <signature>/s/ Kevin J. Hayden</signature>
          <nameAndTitle>Kevin J. Hayden Vice President, Treasurer</nameAndTitle>
          <signatureDate>02/06/2026</signatureDate>
        </signature>
      </annualFilingInfo>
      <annualFilingInfo>
        <item1>
          <nameOfIssuer>ADVISORS SERIES TRUST</nameOfIssuer>
          <addressOfIssuer>
            <street1>615 E Michigan Street</street1>
            <city>Milwaukee</city>
            <state>WI</state>
            <country>X1</country>
            <zipCode>53202</zipCode>
          </addressOfIssuer>
        </item1>
        <item2>
          <reportSeriesClass>
            <rptSeriesClassInfo>
              <seriesName>Medalist Partners MBS Total Return Fund</seriesName>
              <seriesId>S000041568</seriesId>
              <classInfo>
                <className>Institutional Class</className>
                <classId>C000129089</classId>
              </classInfo>
              <classInfo>
                <className>Investor Class</className>
                <classId>C000129090</classId>
              </classInfo>
              <classInfo>
                <className>Class A</className>
                <classId>C000164429</classId>
              </classInfo>
            </rptSeriesClassInfo>
          </reportSeriesClass>
        </item2>
        <item3>
          <investmentCompActFileNo>811-07959</investmentCompActFileNo>
          <securitiesActFileNumbers>
            <securitiesActFileNo>
              <fileNumber>333-17391</fileNumber>
            </securitiesActFileNo>
          </securitiesActFileNumbers>
        </item3>
        <item4>
          <lastDayOfFiscalYear>11/30/2025</lastDayOfFiscalYear>
          <isThisFormBeingFiledLate>false</isThisFormBeingFiledLate>
        </item4>
        <item5>
          <aggregateSalePriceOfSecuritiesSold>229001170.00</aggregateSalePriceOfSecuritiesSold>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>206357303.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>1633301329.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>
          <totalAvailableRedemptionCredits>1839658632.00</totalAvailableRedemptionCredits>
          <netSales>0.00</netSales>
          <redemptionCreditsAvailableForUseInFutureYears>(1610657462.00)</redemptionCreditsAvailableForUseInFutureYears>
          <multiplierForDeterminingRegistrationFee>0.0001381</multiplierForDeterminingRegistrationFee>
          <registrationFeeDue>0.00</registrationFeeDue>
        </item5>
        <item6>
          <interestDue>0.00</interestDue>
        </item6>
        <item7>
          <totalOfRegistrationFeePlusAnyInterestDue>0.00</totalOfRegistrationFeePlusAnyInterestDue>
        </item7>
        <signature>
          <signature>/s/ Kevin J. Hayden</signature>
          <nameAndTitle>Kevin J. Hayden Vice President, Treasurer</nameAndTitle>
          <signatureDate>02/12/2026</signatureDate>
        </signature>
      </annualFilingInfo>
      <annualFilingInfo>
        <item1>
          <nameOfIssuer>ADVISORS SERIES TRUST</nameOfIssuer>
          <addressOfIssuer>
            <street1>615 E Michigan Street</street1>
            <city>Milwaukee</city>
            <state>WI</state>
            <country>X1</country>
            <zipCode>53202</zipCode>
          </addressOfIssuer>
        </item1>
        <item2>
          <reportSeriesClass>
            <rptSeriesClassInfo>
              <seriesName>Medalist Partners Short Duration Fund</seriesName>
              <seriesId>S000044807</seriesId>
              <classInfo>
                <className>Institutional Class</className>
                <classId>C000139162</classId>
              </classInfo>
              <classInfo>
                <className>Investor Class</className>
                <classId>C000139163</classId>
              </classInfo>
            </rptSeriesClassInfo>
          </reportSeriesClass>
        </item2>
        <item3>
          <investmentCompActFileNo>811-07959</investmentCompActFileNo>
          <securitiesActFileNumbers>
            <securitiesActFileNo>
              <fileNumber>333-17391</fileNumber>
            </securitiesActFileNo>
          </securitiesActFileNumbers>
        </item3>
        <item4>
          <lastDayOfFiscalYear>11/30/2025</lastDayOfFiscalYear>
          <isThisFormBeingFiledLate>false</isThisFormBeingFiledLate>
        </item4>
        <item5>
          <aggregateSalePriceOfSecuritiesSold>363415878.00</aggregateSalePriceOfSecuritiesSold>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>229832280.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedInFiscalYear>
          <aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>151118103.00</aggregatePriceOfSecuritiesRedeemedOrRepurchasedAnyPrior>
          <totalAvailableRedemptionCredits>380950383.00</totalAvailableRedemptionCredits>
          <netSales>0.00</netSales>
          <redemptionCreditsAvailableForUseInFutureYears>(17534505.00)</redemptionCreditsAvailableForUseInFutureYears>
          <multiplierForDeterminingRegistrationFee>0.0001381</multiplierForDeterminingRegistrationFee>
          <registrationFeeDue>0.00</registrationFeeDue>
        </item5>
        <item6>
          <interestDue>0.00</interestDue>
        </item6>
        <item7>
          <totalOfRegistrationFeePlusAnyInterestDue>0.00</totalOfRegistrationFeePlusAnyInterestDue>
        </item7>
        <signature>
          <signature>/s/ Kevin J. Hayden</signature>
          <nameAndTitle>Kevin J. Hayden Vice President, Treasurer</nameAndTitle>
          <signatureDate>02/12/2026</signatureDate>
        </signature>
      </annualFilingInfo>
    </annualFilings>
  </formData>
</edgarSubmission>
