<SEC-DOCUMENT>0000898531-16-000805-index.html : 20160509
<SEC-HEADER>0000898531-16-000805.hdr.sgml : 20160509
<ACCEPTANCE-DATETIME>20160509135250
ACCESSION NUMBER:		0000898531-16-000805
CONFORMED SUBMISSION TYPE:	N-CSR
PUBLIC DOCUMENT COUNT:		13
CONFORMED PERIOD OF REPORT:	20160229
FILED AS OF DATE:		20160509
DATE AS OF CHANGE:		20160509
EFFECTIVENESS DATE:		20160509

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADVISORS SERIES TRUST
		CENTRAL INDEX KEY:			0001027596
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-CSR
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07959
		FILM NUMBER:		161630956

	BUSINESS ADDRESS:	
		STREET 1:		U.S BANCORP FUND SERVICES, LLC
		STREET 2:		615 E MICHIGAN STREET
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202
		BUSINESS PHONE:		414-765-5340

	MAIL ADDRESS:	
		STREET 1:		615 E MICHIGAN STREET
		STREET 2:		MK-WI-LC2
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202
<SERIES-AND-CLASSES-CONTRACTS-DATA>
<EXISTING-SERIES-AND-CLASSES-CONTRACTS>
<SERIES>
<OWNER-CIK>0001027596
<SERIES-ID>S000044707
<SERIES-NAME>Pzena Mid Cap Value Fund
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000138961
<CLASS-CONTRACT-NAME>Investor Class
<CLASS-CONTRACT-TICKER-SYMBOL>PZVMX
</CLASS-CONTRACT>
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000138962
<CLASS-CONTRACT-NAME>Institutional Class
<CLASS-CONTRACT-TICKER-SYMBOL>PZIMX
</CLASS-CONTRACT>
</SERIES>
<SERIES>
<OWNER-CIK>0001027596
<SERIES-ID>S000044708
<SERIES-NAME>Pzena Emerging Markets Value Fund
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000138963
<CLASS-CONTRACT-NAME>Investor Class
<CLASS-CONTRACT-TICKER-SYMBOL>PZVEX
</CLASS-CONTRACT>
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000138964
<CLASS-CONTRACT-NAME>Institutional Class
<CLASS-CONTRACT-TICKER-SYMBOL>PZIEX
</CLASS-CONTRACT>
</SERIES>
<SERIES>
<OWNER-CIK>0001027596
<SERIES-ID>S000044709
<SERIES-NAME>Pzena Long/Short Value Fund
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000138965
<CLASS-CONTRACT-NAME>Investor Class
<CLASS-CONTRACT-TICKER-SYMBOL>PZVLX
</CLASS-CONTRACT>
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000138966
<CLASS-CONTRACT-NAME>Institutional Class
<CLASS-CONTRACT-TICKER-SYMBOL>PZILX
</CLASS-CONTRACT>
</SERIES>
</EXISTING-SERIES-AND-CLASSES-CONTRACTS>
</SERIES-AND-CLASSES-CONTRACTS-DATA>
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSR
<SEQUENCE>1
<FILENAME>pf-ncsra.htm
<DESCRIPTION>PZENA FUNDS ANNUAL REPORT DATED 2-29-2016
<TEXT>
Document 1 - file: pf-ncsra.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CODE ETH
<SEQUENCE>2
<FILENAME>pf-ex99codeeth.htm
<DESCRIPTION>CODE OF ETHICS
<TEXT>
Document 2 - file: pf-ex99codeeth.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>3
<FILENAME>pf-ex99cert302.htm
<DESCRIPTION>CERTIFICATION 302
<TEXT>
Document 3 - file: pf-ex99cert302.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>4
<FILENAME>pf-ex99cert906.htm
<DESCRIPTION>CERTIFICATION 906
<TEXT>
Document 4 - file: pf-ex99cert906.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>pemvf-linechart.jpg
<DESCRIPTION>PZENA EMERGING MARKETS VALUE FUND LINE CHART
<TEXT>
Document 5 - file: pemvf-linechart.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>pemvf-piechart.jpg
<DESCRIPTION>PZENA EMERGING MARKETS VALUE FUND PIE CHART
<TEXT>
Document 6 - file: pemvf-piechart.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>pf-cover.jpg
<DESCRIPTION>PZENA FUNDS ANNUAL REPORT BANNER
<TEXT>
Document 7 - file: pf-cover.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>plsvf-linechart.jpg
<DESCRIPTION>PZENA LONG/SHORT VALUE FUND LINE CHART
<TEXT>
Document 8 - file: plsvf-linechart.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>plsvfls-piechart.jpg
<DESCRIPTION>PZENA LONG/SHORT VALUE FUND LONG SECURITIES PIE CHART
<TEXT>
Document 9 - file: plsvfls-piechart.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>plsvfss-piechart.jpg
<DESCRIPTION>PZENA LONG/SHORT VALUE FUND SHORT SECURITIES PIE CHART
<TEXT>
Document 10 - file: plsvfss-piechart.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>pmcvf-linechart.jpg
<DESCRIPTION>PZENA MID CAP VALUE FUND LINE CHART
<TEXT>
Document 11 - file: pmcvf-linechart.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>pmcvf-piechart.jpg
<DESCRIPTION>PZENA MID CAP VALUE FUND PIE CHART
<TEXT>
Document 12 - file: pmcvf-piechart.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>pzena-logo.jpg
<DESCRIPTION>PZENA FUNDS LOGO
<TEXT>
Document 13 - file: pzena-logo.jpg

</DOCUMENT>
</SEC-DOCUMENT>