N-Q 1 mccarthy_nq.htm QUARTERLY NOTICE OF PORTFOLIO HOLDINGS Quarterly Notice of Portfolio Holdings

As filed with the Securities and Exchange Commission on November 29, 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
615 East Michigan St.
Milwaukee, WI 53202 
(Name and address of agent for service)



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



Date of fiscal year end: June 30, 2007


Date of reporting period: September 30, 2006 


Item 1. Schedule of Investments.
McCarthy Multi-Cap Stock Fund
    
Schedule of Investments
    
at September 30, 2006 (Unaudited)
    
         
Shares
 
    
Value
   
COMMON STOCKS - 97.43%
    
   
Aerospace & Defense - 0.78%
    
21,835
 
Innovative Solutions & Support, Inc.*
$
 317,263
   
Beverages - 2.11%
    
13,196
 
PepsiCo, Inc.
 
861,171
   
Capital Markets - 1.50%
    
18,120
 
Federated Investors, Inc.
 
612,637
   
Chemicals - 0.78%
    
7,158
 
The Scotts Miracle-Gro Co. - Class A
 
318,459
   
Commercial Banks - 1.98%
    
10,200
 
National City Corp.
 
373,320
12,000
 
Wells Fargo & Co.
 
434,160
       
807,480
   
Commercial Services & Supplies - 7.43%
    
18,635
 
Corinthian Colleges, Inc.*
  
201,444
15,755
 
FirstService Corp.*#
  
375,284
14,300
 
Gevity HR, Inc.
 
325,754
16,018
 
Jackson Hewitt Tax Service, Inc.
 
480,700
9,534
 
Republic Services, Inc.+
  
383,362
5,000
 
Strayer Education, Inc.
 
541,050
12,250
 
Waste Connections, Inc.*
  
464,398
6,930
 
Waste Management, Inc.
 
254,193
       
3,026,185
   
Communications Equipment - 1.88%
    
97,000
 
3Com Corp.*
  
427,770
39,456
 
Packeteer, Inc.*
  
339,716
       
767,486
   
Consumer Finance - 3.67%
    
15,200
 
American Express Co.
 
852,416
22,141
 
MoneyGram International, Inc.
 
643,417
       
1,495,833
   
Diversified Telecommunication Services - 2.67%
    
19,575
 
Alltel Corp.
 
1,086,412
   
Food & Staples Retailing - 3.03%
    
25,000
 
Wal-Mart Stores, Inc.
 
1,233,000
   
Food Products - 6.08%
    
16,465
 
Lancaster Colony Corp.
 
736,973
37,810
 
Wm. Wrigley Jr. Co.
 
1,741,529
       
2,478,502
   
Health Care Equipment & Supplies - 2.40%
    
36,000
 
Boston Scientific Corp.*
  
532,440
10,495
 
Conmed Corp.*
  
221,549
4,810
 
Haemonetics Corp.*
  
225,108
       
979,097
   
Health Care Providers & Services - 6.76%
    
9,100
 
The Advisory Board Co.*
  
459,732
14,486
 
Caremark Rx, Inc.
 
820,922
14,183
 
Laboratory Corporation of America Holdings*+
  
929,979
18,478
 
Odyssey HealthCare, Inc.*
  
262,018
48,424
 
Stewart Enterprises, Inc. - Class A
 
283,765
       
2,756,416
   
Health Care Technology - 1.36%
    
24,265
 
Per-Se Technologies, Inc.*
  
552,757
   
Hotels, Restaurants & Leisure - 0.80%
    
6,500
 
International Speedway Corp. - Class A
 
323,960
   
Industrial Conglomerates - 5.02%
    
13,200
 
3M Co.
 
982,344
38,000
 
Tyco International Ltd.#
  
1,063,620
       
2,045,964
   
Insurance - 8.82%
    
12,730
 
American International Group, Inc.
 
843,490
494
 
Berkshire Hathaway Inc. - Class B*
  
1,567,956
3,108
 
Hanover Insurance Group, Inc.
 
138,710
9,415
 
Horace Mann Educators Corp.
 
181,051
23,000
 
Old Republic International Corp.
 
509,450
6,878
 
Triad Guaranty, Inc.*
  
351,947
       
3,592,604
   
Internet & Catalog Retail - 0.98%
    
19,669
 
Liberty Media Holding Corp. - Interactive - Class A*
  
400,854
   
IT Services - 5.04%
    
21,199
 
Convergys Corp.*
  
437,759
30,748
 
First Data Corp.
 
1,291,416
13,300
 
Hewitt Associates, Inc.*
  
322,658
       
2,051,833
   
Machinery - 1.88%
    
12,230
 
Kaydon Corp.
 
452,755
7,400
 
The Toro Co.
 
312,058
       
764,813
   
Media - 2.02%
    
6,720
 
John Wiley & Sons, Inc. - Class A
 
241,987
6,964
 
Liberty Media Holding Corp. - Capital - Class A*
  
581,982
       
823,969
   
Metals & Mining - 2.20%
    
31,650
 
Compass Minerals International, Inc.
 
896,012
   
Multi-Utilities & Unregulated Power - 0.90%
    
8,740
 
Energen Corp.
 
365,944
   
Oil & Gas - 5.66%
    
14,900
 
ConocoPhillips
 
886,997
16,206
 
Devon Energy Corp.
 
1,023,409
10,294
 
Newfield Exploration Co.*
  
396,731
       
2,307,137
   
Pharmaceuticals - 9.27%
    
20,346
 
Johnson & Johnson
 
1,321,270
52,700
 
Pfizer, Inc.
 
1,494,572
16,580
 
Schering-Plough Corp.
 
366,252
30,040
 
Valeant Pharmaceuticals International
 
594,191
       
3,776,285
   
Real Estate Investment Trusts - 0.94%
    
7,598
 
Redwood Trust, Inc.
 
382,711
   
Real Estate Management & Development - 1.12%
    
20,100
 
Realogy Corp.*
  
455,868
   
Software - 8.60%
    
12,830
 
Fair Isaac Corp.
 
469,193
12,730
 
Intuit, Inc.*
  
408,506
39,121
 
Jack Henry & Associates, Inc.
 
851,664
52,200
 
Microsoft Corp.
 
1,426,626
56,918
 
Novell, Inc.*
  
348,338
       
3,504,327
   
Thrifts & Mortgage Finance - 1.75%
    
16,439
 
Washington Mutual, Inc.
 
714,603
   
TOTAL COMMON STOCKS (Cost $34,071,497)
 
39,699,582
   
SHORT TERM INVESTMENTS - 1.29%
    
526,033
 
Federated Cash Trust Treasury Money Market Fund (Cost $526,033)
 
526,033
   
TOTAL INVESTMENT IN SECURITIES (Cost $34,597,530) - 98.72%
 
40,225,615
   
Call Options Written - (0.24%)
 
(96,750)
   
Other Assets in Excess of Liabilities - 1.52%
  
620,389
   
NET ASSETS - 100.00%
$
 40,749,254
         


Schedule of Call Options Written
    
at September 30, 2006 (Unaudited)
    
         
Contracts
  
Underlying Security / Expiration Date / Exercise Price
  
Value
   
Laboratory Corporation of America Holdings
    
96
  
Expiring January 2007, Exercise Price $60.00
 $
 76,800
   
Republic Services, Inc.
   
95
  
Expiring January 2007, Exercise Price $40.00
 
19,950
   
Total Options Written (Premiums received $97,644)
 $
 96,750
         
 
* Non-income producing security.
      
# U.S. traded security of a foreign issuer.
      
+ Security is subject to a written call option.
      
       
The cost basis of investments for federal tax purposes at September 30, 2006 was as follows**:
      
       
Cost of investments (long positions)
 $
 34,601,881
 
Cost of investments (short positions)
  
(97,644)
  
 
 $
 34,504,237
 
Gross unrealized appreciation
 $
 6,138,902
 
Gross unrealized depreciation
  
(514,274)
  
Net unrealized appreciation
 $
 5,624,628
 
       
**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.
      

 

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 Rule 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 1940 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 11/28/2006                                                                        



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 11/28/2006                                                                      

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

Date 11/28/2006                                                                      

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