As filed with the Securities and Exchange Commission on September 27, 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: October 31, 2005

Date of reporting period: July 31, 2005

Item 1. Schedule of Investments.

CastleRock Fund
Schedule of Investments at July 31, 2005 (Unaudited)
COMMON STOCKS - 91.13%	Shares		Market Value
Aerospace & Defense - 1.83%
Honeywell International, Inc. (a)	3,000	$	117,840
Airlines - 6.60%
Southwest Airlines Co. (a)	30,000		425,700
Automobiles - 1.65%
Harley-Davidson, Inc. (a)	2,000		106,380
Capital Markets - 5.07%
Merrill Lynch & Co., Inc. (a)	2,500		146,950
Morgan Stanley (a)	3,400		180,370
			327,320
Chemicals - 2.36%
Sensient Technologies Corp. (a)	8,000		152,080
Commercial Banks - 1.70%
North Fork Bancorporation, Inc. (a)	4,000		109,560
Computers & Peripherals - 1.94%
Lexmark International, Inc. - Class A (a)(b)	2,000		125,400
Diversified Financial Services - 2.45%
J.P. Morgan Chase & Co. (a)	4,500		158,130
Energy Equipment & Services - 2.94%
Tidewater, Inc. (a)	4,700		189,739
Food & Staples Retailing - 1.53%
Wal-Mart Stores, Inc. (a)	2,000		98,700
Health Care Equipment & Supplies - 1.77%
Biomet, Inc. (a)	3,000		114,390
Hotels, Restaurants & Leisure - 1.94%
Ruby Tuesday, Inc. (a)	5,000		125,100
Industrial Conglomerates - 4.53%
Tyco International Ltd. (a)(c)	9,600		292,512
Insurance - 18.81%
American International Group, Inc. (a)	2,500		150,500
Hilb Rogal & Hobbs Co. (a)	4,000		135,560
MBIA, Inc. (a)	10,300		625,622
Transatlantic Holdings, Inc.	5,100		301,869
			1,213,551
IT Services - 4.62%
Affiliated Computer Services, Inc. - Class A (b)	2,800		139,916
First Data Corp. (a)	3,500		143,990
SunGard Data Systems, Inc. (b)	400		14,356
			298,262
Machinery - 1.09%
Dover Corp. (a)	1,700		70,142
Media - 5.36%
Gannett Co, Inc.	2,000		145,920
The Walt Disney Co. (a)	7,800		199,992
			345,912
Personal Products - 1.22%
Avon Products, Inc. (a)	2,400		78,504
Pharmaceuticals - 6.40%
Bristol-Myers Squibb Co. (a)	7,500		187,350
Merck & Co., Inc. (a)	3,000		93,180
Pfizer, Inc. (a)	5,000		132,500
			413,030
Software - 4.00%
Microsoft Corp. (a)	4,500		115,245
Symantec Corp. (a)(b)	6,500		142,805
			258,050
Specialty Retail - 8.07%
Home Depot, Inc. (a)	4,000		174,040
Lowe's Cos., Inc. (a)	3,100		205,282
TJX Cos., Inc. (a)	6,000		141,060
			520,382
Textiles, Apparel & Luxury Goods - 2.08%
Jones Apparel Group, Inc. (a)	4,400		134,508
Thrifts & Mortgage Finance - 3.17%
The PMI Group, Inc. (a)	5,000		204,750
TOTAL COMMON STOCKS (Cost $5,723,516)			5,879,942
SHORT-TERM INVESTMENTS - 23.00%
AIM STIT-Liquid Assets Portfolio	1,483,965		1,483,965
(Cost $1,483,965)
Total Investments in Securities (Cost $7,207,481) - 114.13%			7,363,907
Liabilities in Excess of Other Assets - (14.13)%			(911,721)
NET ASSETS - 100.00%		$	6,452,186
(a) Security is subject to written call option(s).
(b) Non-income producing security.
(c) U.S. traded security of a foreign issuer.
CastleRock Fund
Schedule of Call Options Written at July 31, 2005 (Unaudited)
Underlying Security/Expiration Date/Exercise Price	Contracts		Market Value
American International Group, Inc.
Expiration: January, 2007, Exercise Price: $60.00	25	$	(19,750)
Avon Products, Inc.
Expiration: August, 2005, Exercise Price: $35.00	8		(80)
Avon Products, Inc.
Expiration: October, 2005, Exercise Price: $35.00	8		(460)
Avon Products, Inc.
Expiration: January, 2006, Exercise Price: $37.50	8		(460)
Biomet, Inc.
Expiration: October, 2005, Exercise Price: $37.50	15		(3,600)
Biomet, Inc.
Expiration: January, 2006, Exercise Price: $35.00	15		(7,800)
Bristol-Myers Squibb Co.
Expiration: August, 2005, Exercise Price: $25.00	10		(300)
Bristol-Myers Squibb Co.
Expiration: September, 2005, Exercise Price: $25.00	25		(1,750)
Bristol-Myers Squibb Co.
Expiration: December, 2005, Exercise Price: $25.00	40		(4,800)
Dover Corp.
Expiration: September, 2005, Exercise Price: $35.00	10		(6,450)
Dover Corp.
Expiration: December, 2005, Exercise Price: $35.00	7		(4,725)
First Data Corp.
Expiration: November, 2005, Exercise Price: $37.50	17		(7,650)
First Data Corp.
Expiration: November, 2005, Exercise Price: $40.00	18		(4,770)
Harley-Davidson, Inc.
Expiration: August, 2005, Exercise Price: $42.50	20		(21,600)
Hilb Rogal & Hobbs Co.
Expiration: August, 2005, Exercise Price: $35.00	20		(750)
Hilb Rogal & Hobbs Co.
Expiration: October, 2005, Exercise Price: $35.00	20		(1,950)
Home Depot, Inc.
Expiration: August, 2005, Exercise Price: $40.00	10		(3,500)
Home Depot, Inc.
Expiration: November, 2005, Exercise Price: $40.00	10		(4,600)
Home Depot, Inc.
Expiration: January, 2006, Exercise Price: $40.00	10		(5,200)
Honeywell International, Inc.
Expiration: September, 2005, Exercise Price: $35.00	15		(6,600)
Honeywell International, Inc.
Expiration: December, 2005, Exercise Price: $35.00	15		(7,500)
Jones Apparel Group, Inc.
Expiration: August, 2005, Exercise Price: $30.00	34		(3,485)
Jones Apparel Group, Inc.
Expiration: January, 2006, Exercise Price: $30.00	5		(1,200)
Jones Apparel Group, Inc.
Expiration: January, 2006, Exercise Price: $35.00	5		(275)
J.P. Morgan Chase & Co.
Expiration: August, 2005, Exercise Price: $35.00	15		(825)
J.P. Morgan Chase & Co.
Expiration: September, 2005, Exercise Price: $35.00	15		(1,425)
J.P. Morgan Chase & Co.
Expiration: December, 2005, Exercise Price: $35.00	15		(2,475)
Lexmark International, Inc. - Class A
Expiration: October, 2005, Exercise Price: $65.00	10		(2,250)
Lexmark International, Inc. - Class A
Expiration: January, 2006, Exercise Price: $65.00	10		(3,700)
Lowe's Cos., Inc.
Expiration: January, 2006, Exercise Price: $60.00	1		(845)
MBIA, Inc.
Expiration: August, 2005, Exercise Price: $55.00	30		(18,750)
MBIA, Inc.
Expiration: November, 2005, Exercise Price: $55.00	20		(15,600)
MBIA, Inc.
Expiration: January, 2006, Exercise Price: $55.00	27		(23,490)
MBIA, Inc.
Expiration: January, 2007, Exercise Price: $60.00	26		(24,700)
Merck & Co., Inc.
Expiration: January, 2006, Exercise Price: $30.00	30		(7,650)
Merrill Lynch & Co., Inc.
Expiration: August, 2005, Exercise Price: $55.00	10		(3,800)
Merrill Lynch & Co., Inc.
Expiration: October, 2005, Exercise Price: $55.00	15		(7,200)
Microsoft Corp.
Expiration: August, 2005, Exercise Price: $25.00	20		(1,500)
Microsoft Corp.
Expiration: September, 2005, Exercise Price: $25.00	25		(2,375)
Morgan Stanley
Expiration: January, 2006, Exercise Price: $45.00	10		(9,150)
Morgan Stanley
Expiration: January, 2006, Exercise Price: $50.00	14		(7,350)
Morgan Stanley
Expiration: January, 2007, Exercise Price: $55.00	10		(5,450)
North Fork Bancorporation, Inc.
Expiration: September, 2005, Exercise Price: $27.50	20		(2,250)
North Fork Bancorporation, Inc.
Expiration: November, 2005, Exercise Price: $27.50	10		(1,450)
North Fork Bancorporation, Inc.
Expiration: January, 2006, Exercise Price: $27.50	10		(1,825)
Pfizer, Inc.
Expiration: September, 2005, Exercise Price: $25.00	20		(4,000)
Pfizer, Inc.
Expiration: September, 2005, Exercise Price: $27.50	6		(240)
Pfizer, Inc.
Expiration: December, 2005, Exercise Price: $25.00	12		(2,940)
Pfizer, Inc.
Expiration: December, 2005, Exercise Price: $27.50	12		(1,320)
Ruby Tuesday, Inc.
Expiration: September, 2005, Exercise Price: $25.00	10		(850)
Ruby Tuesday, Inc.
Expiration: October, 2005, Exercise Price: $22.50	10		(3,075)
Ruby Tuesday, Inc.
Expiration: October, 2005, Exercise Price: $25.00	20		(2,650)
Ruby Tuesday, Inc.
Expiration: January, 2006, Exercise Price: $25.00	10		(2,075)
Sensient Technologies Corp.
Expiration: August, 2005, Exercise Price: $20.00	25		(437)
Sensient Technologies Corp.
Expiration: October, 2005, Exercise Price: $20.00	25		(1,313)
Sensient Technologies Corp.
Expiration: January, 2006, Exercise Price: $20.00	30		(2,325)
Southwest Airlines Co.
Expiration: September, 2005, Exercise Price: $15.00	126		(2,520)
Southwest Airlines Co.
Expiration: January, 2006, Exercise Price: $15.00	174		(12,180)
Symantec Corp.
Expiration: August, 2005, Exercise Price: $20.00	25		(5,250)
Symantec Corp.
Expiration: October, 2005, Exercise Price: $20.00	20		(5,400)
Symantec Corp.
Expiration: January, 2006, Exercise Price: $20.00	20		(6,800)
The PMI Group, Inc.
Expiration: January, 2006, Exercise Price: $40.00	50		(16,375)
The Walt Disney Co.
Expiration: August, 2005, Exercise Price: $25.00	20		(2,000)
The Walt Disney Co.
Expiration: September, 2005, Exercise Price: $25.00	20		(2,300)
The Walt Disney Co.
Expiration: October, 2005, Exercise Price: $25.00	19		(2,613)
The Walt Disney Co.
Expiration: January, 2006, Exercise Price: $25.00	19		(3,515)
Tidewater, Inc.
Expiration: August, 2005, Exercise Price: $35.00	15		(8,325)
Tidewater, Inc.
Expiration: October, 2005, Exercise Price: $35.00	15		(9,225)
Tidewater, Inc.
Expiration: January, 2006, Exercise Price: $35.00	17		(11,985)
TJX Cos., Inc.
Expiration: September, 2005, Exercise Price: $22.50	30		(4,350)
TJX Cos., Inc.
Expiration: October, 2005, Exercise Price: $22.50	30		(5,100)
Tyco International Ltd.
Expiration: September, 2005, Exercise Price: $30.00	20		(3,500)
Tyco International Ltd.
Expiration: October, 2005, Exercise Price: $30.00	21		(4,095)
Tyco International Ltd.
Expiration: January, 2006, Exercise Price: $30.00	35		(8,925)
Tyco International Ltd.
Expiration: January, 2007, Exercise Price: $35.00	20		(4,600)
Wal-Mart Stores, Inc.
Expiration: September, 2005, Exercise Price: $47.50	20		(4,900)
Total Call Options Written (Proceeds $366,207)		$	(408,498)

For certain federal income tax information, as well as other information regarding securities valuation and other significant accounting policies, please refer to the footnotes to the Fund’s most recent semi-annual or annual report.

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 quarter 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   9/22/05                                                                    

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   9/22/05                                                                     

By (Signature and Title)* /s/Douglas G. Hess             

Douglas G. Hess, Treasurer

Date   9/22/05                                                                     

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