Summary Prospectus by Investment Company - Form 497K

Logan Capital Broad Innovative Growth ETF

(Ticker: LCLG)

(the "Fund")

A series of Advisors Series Trust (the "Trust")

Supplement dated September 25, 2024 to the

Summary Prospectus dated August 28, 2024

The Fund's investment adviser approved the reduction of the size of Creation Units for the Fund from 10,000 Shares to 5,000 Shares effective October 1, 2024.

Accordingly, the second paragraph under the subheading titled "Purchase and Sale of Fund Shares" on page 6 of the Fund's Summary Prospectus has been revised to read as follows:

The Fund generally issues and redeems Creation Units in exchange for a portfolio of securities closely approximating the holdings of the Fund (the "Deposit Securities") and/or a designated amount of U.S. cash. The Fund issues and redeems Shares at NAV only in large blocks known as "Creation Units," which only APs (typically, broker-dealers) may purchase or redeem. Creation Units generally consist of 5,000 Shares, though this may change from time to time.

Please retain this Supplement with your Summary Prospectus