N-Q 1 midanekpaknq.htm MIDANEK/PAK N-Q Midanek/Pak N-Q

As filed with the Securities and Exchange Commission on March 1, 2005



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


 
FORM N-Q
 
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 




Investment Company Act file number 811-07959



Advisors Series Trust
(Exact name of registrant as specified in charter)



615 E. Michigan St.
Milwaukee, WI 53202 
(Address of principal executive offices) (Zip code)



Eric M. Banhazl
Advisors Series Trust
2020 East Financial Way, Suite 100
Glendora, CA 91741 
(Name and address of agent for service)



(414) 765-5340
Registrant's telephone number, including area code



Date of fiscal year end: September 30, 2005



Date of reporting period: December 31, 2004 


 
     
 


 
Item 1. Schedule of Investments.

Midanek/Pak Ultrashort Duration Fund
            
Schedule of Investments at December 31, 2004 (Unaudited)
            
     
PAR
   
VALUE
             
U.S. Government & Agency Securities - 27.8%
            
             
U.S. Agency Debentures - 20.5%
            
FFCB
            
2.3100%, 10/20/05 (a)
  
$
250,000
 
$
249,998
FHLB
           
6.220%, 05/12/05
    
50,000
   
50,671
2.125%, 09/01/05
    
25,000
   
24,890
5.260%, 09/23/05
    
15,000
   
15,264
2.125%, 11/15/05
    
100,000
   
99,322
2.435%, 03/28/06 (a)
    
150,000
   
149,969
FHLMC
            
2.170%, 05/17/07, Callable11/17/05 @ 100 (a)
    
30,000
   
29,992
           
620,106
U.S. Treasuries - 7.3%
            
U.S. Treasury Notes
           
6.50%, 08/15/05
    
215,000
   
220,232
             
Total U.S. Government & Agency Securities (Cost $840,627)
          
840,338
             
             
U.S. Government Agency Mortgage-Backed Securities - 23.2%
            
             
Adjustable Rate (a) - 19.2%
            
FNMA Pool
            
4.532%, 11/01/26, #037029 (b)
    
51,240
   
51,643
GNMA Pool
            
3.750%, 08/20/17, #8254
    
70,372
   
71,047
3.375%, 03/20/22, #8936 (b)
    
36,524
   
36,767
3.750%, 09/20/22, #8052 (b)
    
24,696
   
24,827
4.125%, 12/20/22, #8096 (b)
    
48,180
   
48,483
3.375%, 05/20/23, #8198 (b)
    
52,175
   
52,340
3.750%, 08/20/23, #8269 (b)
    
35,224
   
35,330
3.750%, 08/20/24, #8482 (b)
    
259,127
   
259,845
           
580,282
Fixed Rate - 4.0%
            
FNMA Pool
            
4.500%, 07/25/33, #0129PQ, Series 2003-129, Class PQ
    
121,472
   
122,524
             
Total U.S. Government Agency Mortgage-Backed Securities (Cost $767,067)
          
702,806
             
             
CMO - U.S. Government Agency Mortgage-Backed Securities - 17.4%
            
Fixed Rate - 17.4%
            
FHLMC Pool
            
4.500%, 01/15/11, #2643LA, Series 2643, Class LA
    
87,865
   
88,819
4.000%, 04/15/21, #2591PJ, Series 2591, Class PJ
    
157,900
   
158,254
6.000%, 11/15/24, #2391XD, Series 2391, Class XD
    
43,880
   
43,832
5.250%, 10/15/27, #2061TA, Series 2061, Class TA
    
85,232
   
85,669
FNMA Pool
            
4.000%, 11/25/17, #0021QA, Series 2004-21, Class QA
    
150,000
   
150,445
           
527,019
             
Total CMO - U.S. Government Agency Mortgage-Backed Securities (Cost $528,475)
          
527,019
             
             
Asset-Backed Securities - 6.2%
            
             
Automotive - 2.9%
            
Volkswagen
            
Series 2003-2, Class A3
            
2.270%, 10/22/07
    
90,000
   
89,308
             
Commercial - 3.3%
            
Lehman Brothers
            
Series 2004-LLFA, Class A1
            
2.230%, 10/15/17 (a)
    
99,926
   
100,047
             
Total Asset-Backed Securities (Cost $188,860)
          
189,355
             
     
SHARES/PAR
   
VALUE
             
Money Market Funds - 9.1%
            
SEI Daily Income Trust Government Fund - Class B
    
275,418
   
275,418
             
Total Money Market Funds (Cost $275,418)
          
275,418
             
U.S. Government Agency Issue - 10.7%
            
FHLB Discount Note
            
0.000%, 03/02/05
  
$
200,000
 
$
199,246
0.000%, 05/18/05
    
125,000
   
123,819
             
Total U.S. Government Agency Issue (Cost $323,065)
          
323,065
             
U.S. Treasury Obligations - 3.3%
            
U.S. Treasury Bill
            
2.250%, 05/12/05
    
100,000
   
99,140
             
Total U.S. Treasury Obligations (Cost $99,140)
          
99,140
             
Total Investments - 97.7%
            
(Cost $3,022,652)
          
2,957,141
Other Assets and Liabilities, Net - 2.3%
          
69,928
Total Net Assets - 100.0%
        
$
3,027,069
             
             
(a) Variable Rate Security - The rate shown is the rate in effect as of December 31, 2004.
            
(b) These securities, as of December 31, 2004, were being valued using fair value pricing methodologies approved by the Board of Trustees.
            

 

            
FFCB - Federal Farm Credit Bank
            
FHLB - Federal Home Loan Bank
            
FHLMC - Federal Home Loan Mortgage Corporation
            
FNMA - Federal National Mortgage Association
            
             


 
     
 

 
Item 2. Controls and Procedures.
 
(a)   The Registrant’s President/Chief Executive Officer and Treasurer/Chief Financial Officer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) are effective as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 15d-15(b) under the Securities Exchange Act of 1934, as amended.

(b)   There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrant's last fiscal half-year that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.


 
Item 3. Exhibits.
 
Separate certifications for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)). Filed herewith.
 

 
     
 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


(Registrant) Advisors Series Trust                                                           

By (Signature and Title)_/s/Eric M. Banhazl                            
Eric M. Banhazl, President

Date 2/24/2005                                                                                                  



Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)* _/s/Eric M. Banhazl                         
Eric M. Banhazl, President

Date 2/24/2005                                                                      

By (Signature and Title)* _/s/Douglas g. Hess___________       
Douglas G. Hess, Treasurer

Date  2/24/2005                                                                     

 
* Print the name and title of each signing officer under his or her signature.