N-Q 1 mccarthy_nq.htm QUARTERLY NOTICE OF PORTFOLIO HOLDINGS mccarthy_nq.htm
As filed with the Securities and Exchange Commission on May 29, 2007



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) 765-6609
Registrant's telephone number, including area code



Date of fiscal year end: June 30, 2007



Date of reporting period:  March 31, 2007

Item 1. Schedules of Investments.
 McCarthy Multi-Cap Stock Fund
    
 Schedule of Investments
    
 at March 31, 2007 (Unaudited)
    
         
 Shares
      
Value
   
COMMON STOCKS - 98.52%
    
   
Aerospace & Defense - 0.51%
    
               8,615
  
Innovative Solutions & Support, Inc.*
$
218,132
   
Air Freight & Logistics - 0.48%
    
               6,185
  
Forward Air Corp.
  
203,363
   
Beverages - 1.98%
    
             13,196
  
PepsiCo, Inc.
  
838,738
   
Capital Markets - 1.57%
    
             18,120
  
Federated Investors, Inc. - Class B
  
665,366
   
Chemicals - 0.68%
    
             13,200
  
Headwaters, Inc.*
  
288,420
   
Commercial Services & Supplies - 2.75%
    
             15,755
  
FirstService Corp.*#
  
434,523
             14,300
  
Gevity HR, Inc.
  
282,282
               6,118
  
Jackson Hewitt Tax Service, Inc.
  
196,877
               2,000
  
Strayer Education, Inc.
  
250,000
       
1,163,682
   
Communications Equipment - 1.16%
    
             39,456
  
Packeteer, Inc.*
  
490,043
   
Computers & Peripherals - 1.46%
    
             17,770
  
Avid Technology, Inc.*
  
619,818
   
Construction Materials - 1.46%
    
             13,870
  
Eagle Materials, Inc.
  
619,018
   
Consumer Finance - 6.38%
    
             20,840
  
American Express Co.
  
1,175,376
               7,741
  
MoneyGram International, Inc.
  
214,890
             32,110
  
SLM Corp.
  
1,313,299
       
2,703,565
   
Food & Staples Retailing - 4.72%
    
             24,191
  
CVS Caremark Corp.
  
825,881
             25,000
  
Wal-Mart Stores, Inc.
  
1,173,750
       
1,999,631
   
Food Products - 3.51%
    
             12,425
  
Lancaster Colony Corp.
  
549,061
             18,385
  
Wm. Wrigley Jr. Co.
  
936,348
       
1,485,409
   
Health Care Equipment & Supplies - 1.21%
    
             10,935
  
Haemonetics Corp.*
  
511,211
   
Health Care Providers & Services - 10.01%
    
               4,100
  
The Advisory Board Co.*
  
207,542
             10,580
  
Computer Programs & Systems, Inc.
  
283,756
             14,183
  
Laboratory Corporation of America Holdings*
  
1,030,111
             48,928
  
Odyssey HealthCare, Inc.*
  
642,425
             22,400
  
Omnicare, Inc.
  
890,848
             22,400
  
UnitedHealth Group, Inc.
  
1,186,528
       
4,241,210
   
Hotels, Restaurants & Leisure - 1.25%
    
             10,280
  
International Speedway Corp. - Class A
  
531,476
   
Industrial Conglomerates - 4.84%
    
             11,125
  
3M Co.
  
850,284
             38,000
  
Tyco International Ltd.#
  
1,198,900
       
2,049,184
   
Insurance - 12.46%
    
             17,580
  
American International Group, Inc.
  
1,181,728
             10,960
  
Argonaut Group, Inc.*
  
354,665
                  494
  
Berkshire Hathaway Inc. - Class B*
  
1,798,160
               3,108
  
Hanover Insurance Group, Inc.
  
143,341
             27,015
  
Horace Mann Educators Corp.
  
555,158
             43,300
  
Old Republic International Corp.
  
957,796
               6,878
  
Triad Guaranty, Inc.*
  
284,818
       
5,275,666
   
IT Services - 5.29%
    
             15,100
  
Acxiom Corp.
  
322,989
             13,300
  
Hewitt Associates, Inc. - Class A*
  
388,759
             69,628
  
Western Union Co.
  
1,528,335
       
2,240,083
   
Machinery - 6.26%
    
               6,000
  
Actuant Corp. - Class A
  
304,860
             12,230
  
Kaydon Corp.
  
520,509
             20,600
  
Mueller Water Products, Inc. - Class B
  
275,834
             10,600
  
The Toro Co.
  
543,144
             18,640
  
Wabash National Corp.
  
287,429
             20,800
  
Wabtec Corp.
  
717,392
       
2,649,168
   
Media - 1.29%
    
             14,420
  
John Wiley & Sons, Inc. - Class A
  
544,499
   
Metals & Mining - 2.50%
    
             31,650
  
Compass Minerals International, Inc.
  
1,057,110
   
Oil & Gas - 7.62%
    
             17,400
  
Anadarko Petroleum Corp.
  
747,852
               8,300
  
Apache Corp.
  
586,810
             11,260
  
ConocoPhillips
  
769,621
             16,206
  
Devon Energy Corp.
  
1,121,779
       
3,226,062
   
Pharmaceuticals - 5.38%
    
             20,346
  
Johnson & Johnson
  
1,226,050
             16,580
  
Schering-Plough Corp.
  
422,956
             36,440
  
Valeant Pharmaceuticals International
  
630,047
       
2,279,053
   
Software - 6.08%
    
             12,830
  
Fair Isaac Corp.
  
496,264
             26,021
  
Jack Henry & Associates, Inc.
  
625,805
             52,200
  
Microsoft Corp.
  
1,454,814
       
2,576,883
   
Specialty Retail - 3.01%
    
             31,709
  
Bed Bath & Beyond, Inc.*
  
1,273,750
   
Thrifts & Mortgage Finance - 1.57%
    
             16,439
  
Washington Mutual, Inc.
  
663,807
   
Trading Companies & Distributors - 3.09%
    
             37,300
  
Fastenal Co.
  
1,307,365
   
TOTAL COMMON STOCKS (Cost $37,162,295)
  
41,721,712
         
   
SHORT-TERM INVESTMENTS - 1.58%
    
           670,871
  
Federated Cash Trust Treasury Money Market Fund (Cost $670,871)
670,871
   
Total Investments in Securities (Cost $37,833,166) - 100.10%
  
42,392,583
   
Liabilities in Excess of Other Assets - (0.10)%
  
(42,731)
   
NET ASSETS - 100.00%
$
42,349,852
         
* Non-income producing security.
    
# U.S. traded security of a foreign issuer.
    
         

The cost basis of investments for federal income tax purposes at March 31, 2007 was as follows**:

Cost of investments
$
37,837,517
     
Gross unrealized appreciation
$
5,373,855
Gross unrealized depreciation
  
(818,789)
Net unrealized appreciation
$
4,555,066
     

**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 or semi-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 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   5/29/2007                                                                     



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   5/29/2007                                                                     

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

Date   5/23/2007                                                                    

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