N-Q 1 high_pointenq.htm AST - HIGH POINTE FUNDS QUARTERLY NOTICE OF PORTFOLIO HOLDINGS AST - High Pointe Funds Quarterly Notice of Portfolio Holdings

As filed with the Securities and Exchange Commission on May 23, 2006


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 East 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: June 30, 2006



Date of reporting period: March 31, 2006 

Item 1. Schedules of Investments.
High Pointe Select Value Fund
    
Schedule of Investments
    
March 31, 2006 (Unaudited)
    
         
         
Shares
      
Value
   
COMMON STOCKS - 98.2%
    
   
Air Freight & Logistics - 4.4%
    
16,800
  
FedEx Corp.
$
1,897,392
   
Capital Markets - 4.1%
    
49,650
  
The Bank of New York Co., Inc.
 
1,789,386
   
Commercial Services & Supplies - 8.8%
    
116,350
  
Cendant Corp.
 
2,018,672
50,550
  
Waste Management, Inc.
 
1,784,415
       
3,803,087
   
Computers & Peripherals - 4.3%
    
62,600
  
Dell, Inc. (a)
  
1,862,976
   
Consumer Finance - 3.4%
    
18,500
  
Capital One Financial Corp.
 
1,489,620
   
Diversified Financial Services - 4.6%
    
42,500
  
Citigroup, Inc.
 
2,007,275
   
Food & Staples Retailing - 5.3%
    
48,550
  
Wal-Mart Stores, Inc.
 
2,293,502
   
Health Care Providers & Services - 3.5%
    
20,250
  
Cardinal Health, Inc.
 
1,509,030
   
Hotels, Restaurants & Leisure - 3.4%
    
43,600
  
GTECH Holdings Corp.
 
1,484,580
   
Industrial Conglomerates - 4.6%
    
73,300
  
Tyco International Ltd. (b)
  
1,970,304
   
Insurance - 7.8%
    
29,000
  
American International Group, Inc.
 
1,916,610
22,950
  
XL Capital Ltd., Class A (b)
  
1,471,324
       
3,387,934
   
Internet & Catalog Retail - 4.6%
    
47,900
  
Expedia, Inc. (a)
  
970,933
34,450
  
IAC/InteractiveCorp (a)
  
1,015,242
       
1,986,175
   
Media - 12.7%
    
80,250
  
Comcast Corp., Class A (a)
  
2,099,340
224,200
  
Liberty Media Corp., Class A (a)
  
1,840,682
94,150
  
The DIRECTV Group, Inc. (a)
  
1,544,060
       
5,484,082
   
Pharmaceuticals - 7.6%
    
58,100
  
Pfizer, Inc.
 
1,447,852
38,550
  
Sanofi-Aventis - ADR
 
1,829,198
       
3,277,050
   
Software - 4.2%
    
67,600
  
Microsoft Corp.
 
1,839,396
   
Specialty Retail - 3.3%
    
55,000
  
Rent-A-Center, Inc. (a)
  
1,407,450
   
Thrifts & Mortgage Finance - 11.6%
    
47,850
  
Countrywide Financial Corp.
 
1,756,095
31,600
  
Fannie Mae
 
1,624,240
26,550
  
Freddie Mac
 
1,619,550
       
4,999,885
         
   
TOTAL COMMON STOCKS (Cost $40,698,497)
  
42,489,124
Principal
        
Amount
        
   
SHORT-TERM INVESTMENTS - 1.9%
    
   
FHLB Discount Note
    
$                        818,000
 
4.402% , 04/03/2006
  
817,800
   
TOTAL SHORT-TERM INVESTMENTS (Cost $817,800)
  
817,800
         
   
TOTAL INVESTMENTS IN SECURITIES (Cost $41,516,297) - 100.1%
  
43,306,924
   
Liabilities in Excess of Other Assets - (0.1)%
  
(23,120)
   
NET ASSETS - 100.0%
$
43,283,804
         
         
         
         
   
ADR - American Depositary Receipt
    
   
FHLB - Federal Home Loan Bank
    
   
(a) Non-income producing security.
    
   
(b) U.S. traded security of a foreign issuer.
    

The cost basis of investments for federal income tax purposes at March 31, 2006 was as follows*:

Cost of investments
$
41,517,978
     
Gross unrealized appreciation
$
2,700,386
Gross unrealized depreciation
  
(911,440)
Net unrealized appreciation
$
1,788,946
     

*Because tax adjustments are calculated annually, the above table reflects the tax adjustments outstanding at the Fund’s previous fiscal year end. For the previous fiscal year’s federal income tax information, please refer to the Notes to Financial Statements section in the Fund’s most recent annual report.

 
High Pointe Small Cap Equity Fund
    
Schedule of Investments
    
March 31, 2006 (Unaudited)
    
         
         
Shares
      
Value
   
COMMON STOCKS - 98.8%
    
   
Aerospace & Defense - 2.2%
    
2,350
  
Esterline Technologies Corp. (a)
$
100,462
   
Beverages - 2.5%
    
8,800
  
Cott Corp. (a) (b)
  
113,344
   
Chemicals - 3.2%
    
10,350
  
Hercules, Inc. (a)
  
142,830
   
Commercial Services & Supplies - 12.1%
    
10,650
  
Corinthian Colleges, Inc. (a)
  
153,360
4,250
  
Jackson Hewitt Tax Service, Inc.
 
134,215
2,200
  
United Stationers, Inc. (a)
  
116,820
3,600
  
Waste Connections, Inc. (a)
  
143,316
       
547,711
   
Communications Equipment - 4.4%
    
5,550
  
Plantronics, Inc.
 
196,637
   
Computers & Peripherals - 4.4%
    
2,600
  
Avid Technology, Inc. (a)
  
112,996
2,050
  
Diebold, Inc.
 
84,255
       
197,251
   
Consumer Finance - 2.8%
  
 
4,250
  
Cash America International, Inc.
 
127,585
   
Containers & Packaging - 2.4%
    
6,100
  
Crown Holdings, Inc. (a)
  
108,214
   
Electrical Equipment - 2.5%
    
4,900
  
American Power Conversion Corp.
 
113,239
   
Electronic Equipment & Instruments - 5.7%
    
6,000
  
Avnet, Inc. (a)
  
152,280
26,800
  
Solectron Corp. (a)
  
107,200
       
259,480
   
Energy Equipment & Services - 2.3%
    
1,800
  
CARBO Ceramics, Inc.
 
102,438
   
Food Products - 3.2%
    
12,250
  
Del Monte Foods Co.
 
145,285
   
Health Care Equipment & Supplies - 3.2%
    
3,050
  
Diagnostic Products Corp.
 
145,271
   
Hotels, Restaurants & Leisure - 8.7%
    
3,950
  
GTECH Holdings Corp.
 
134,497
2,400
  
International Speedway Corp. - Class A
 
122,160
3,550
  
Speedway Motorsports, Inc.
 
135,646
       
392,303
   
Household Durables - 2.0%
    
8,100
  
Fleetwood Enterprises, Inc. (a)
  
90,477
         
 
  
Insurance - 3.2%
    
3,300
  
RenaissanceRe Holdings Ltd. (b)
  
143,946
   
IT Services - 2.3%
    
2,900
  
MAXIMUS, Inc.
 
104,342
   
Leisure Equipment & Products - 2.2%
    
2,550
  
RC2 Corp. (a)
  
101,516
   
Machinery - 7.3%
    
4,950
  
AGCO Corp. (a)
  
102,663
4,050
  
Briggs & Stratton Corp.
 
143,248
3,050
  
Navistar International Corp. (a)
  
84,119
       
330,030
   
Media - 4.7%
    
9,800
  
Cumulus Media, Inc., Class A (a)
  
110,348
3,650
  
Entercom Communications Corp.
 
101,908
       
212,256
   
Multiline Retail - 3.8%
    
12,450
  
Big Lots, Inc. (a)
  
173,802
   
Semiconductor & Semiconductor Equipment - 2.7%
    
3,250
  
Cabot Microelectronics Corp. (a)
  
120,575
   
Specialty Retail - 7.6%
    
4,750
  
Foot Locker, Inc.
 
113,430
4,900
  
RadioShack Corp.
 
94,227
5,350
  
Rent-A-Center, Inc. (a)
  
136,906
       
344,563
   
Textiles, Apparel & Luxury Goods - 3.4%
    
4,450
  
Timberland Co. (a)
  
152,324
         
   
TOTAL COMMON STOCKS (Cost $4,198,043)
  
4,465,881
Principal
        
Amount
        
   
SHORT-TERM INVESTMENTS - 1.6%
    
   
FHLB Discount Note
    
$                          74,000
 
4.402% , 04/03/2006
  
73,982
   
TOTAL SHORT-TERM INVESTMENTS (Cost $73,982)
  
73,982
         
   
TOTAL INVESTMENTS IN SECURITIES (Cost $4,272,025) - 100.4%
  
4,539,863
   
Liabilities in Excess of Other Assets - (0.4)%
  
(17,990)
   
NET ASSETS - 100.0%
$
4,521,873
         
         
         
         
   
FHLB - Federal Home Loan Bank
    
   
(a) Non-income producing security.
    
   
(b) U.S. traded security of a foreign issuer.
    
 
The cost basis of investments for federal income tax purposes at March 31, 2006 was as follows*:

Cost of investments
$
4,291,184
     
Gross unrealized appreciation
$
344,571
Gross unrealized depreciation
  
(95,892)
Net unrealized appreciation
$
248,679
     

*Because tax adjustments are calculated annually, the above table reflects the tax adjustments outstanding at the Fund’s previous fiscal year end. For the previous fiscal year’s federal income tax information, please refer to the Notes to Financial Statements section in the Fund’s most recent annual report.
 
 
 
For additional federal income tax information, as well as other information regarding securities valuation and other significant accounting policies, please refer to the footnotes to the Funds’ 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   5/19/2006                                                    



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   5/19/2006                                                    

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

Date   5/23/2006                                                    

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