N-Q 1 ata_nq.htm QUARTERLY NOTICE OF PORTFOLIO HOLDINGS ata_nq.htm
 
As filed with the Securities and Exchange Commission on July 30, 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: February 28, 2008



Date of reporting period:  May 31, 2007
 
Item 1. Schedules of Investments.
 
 American Trust Allegiance Fund
    
 Schedule of Investments at May 31, 2007 (Unaudited)
    
         
 Shares
  
COMMON STOCKS - 94.73%
  
Value
         
   
Agricultural Products - 1.89%
    
             12,000
  
Archer-Daniels-Midland Co.
$
420,480
         
   
Asset Management - 3.89%
    
               3,250
  
Affiliated Managers Group, Inc.*
  
423,150
               7,150
  
SEI Investments Co.
  
441,369
       
864,519
         
   
Automobiles - 1.73%
    
               6,300
  
Harley-Davidson, Inc.
  
384,867
         
   
Banks - 3.25%
    
               7,850
  
Marshall & Ilsley Corp.
  
376,722
               4,300
  
Zions Bancorporation
  
345,978
       
722,700
         
   
Business Services - 2.18%
    
               9,000
  
Fidelity National Information Services, Inc.
  
485,280
         
   
Chemicals - Specialty - 4.45%
    
               7,334
  
Ecolab, Inc.
  
316,462
             12,700
  
Rohm & Haas Co.
  
673,227
       
989,689
         
   
Commercial Services & Supplies - 3.68%
    
             10,753
  
Herman Miller, Inc.
  
387,108
             14,250
  
Republic Services, Inc.
  
431,490
       
818,598
         
   
Communications Equipment - 4.11%
    
               9,400
  
Corning, Inc.*
  
235,000
             15,800
  
QUALCOMM, Inc.
  
678,610
       
913,610
         
   
Computer Hardware - 5.01%
    
               6,100
  
Apple, Inc.*
  
741,516
               3,500
  
International Business Machines Corp.
  
373,100
       
1,114,616
         
   
Computer Software - 1.04%
    
               5,100
  
Autodesk, Inc.*
  
231,795
         
   
Computer Storage & Peripherals - 0.92%
    
               6,370
  
Network Appliance, Inc.*
  
205,050
         
   
Construction & Engineering - 3.21%
    
               2,400
  
Fluor Corp.
  
249,840
               8,000
  
Jacobs Engineering Group, Inc.*
  
463,600
       
713,440
         
   
Containers & Packaging - 1.34%
    
               5,400
  
Ball Corp.
  
298,944
         
   
Diversified Financial Services - 8.31%
    
               2,520
  
The Goldman Sachs Group, Inc.
  
581,666
               6,800
  
Legg Mason, Inc.
  
687,004
               8,500
  
State Street Corp.
  
580,295
       
1,848,965
         
   
Electrical Equipment - 1.09%
    
               5,000
  
Emerson Electric Co.
  
242,250
         
   
Energy Equipment & Services - 3.50%
    
               7,400
  
Halliburton Co.
  
266,030
               6,587
  
Schlumberger Ltd.#
  
512,930
       
778,960
         
   
Food Products - 7.41%
    
               9,186
  
Dean Foods Co.
  
300,933
               7,400
  
General Mills, Inc.
  
453,176
               7,700
  
Hershey Foods Corp.
  
405,867
               8,316
  
Wm. Wrigley Jr. Co. - Class B
  
487,318
       
1,647,294
         
   
Household Products - 4.71%
    
               8,627
  
Church & Dwight Co., Inc.
  
431,436
               9,205
  
Colgate-Palmolive Co.
  
616,367
       
1,047,803
         
   
Industrial Machinery - 3.35%
    
               8,010
  
Illinois Tool Works, Inc.
  
422,287
               6,300
  
Ingersoll-Rand Co. Ltd. - Class A#
  
323,379
       
745,666
         
   
Insurance - Multi-Line - 2.02%
    
               6,200
  
American International Group, Inc.
  
448,508
         
   
IT Services - 2.28%
    
             10,200
  
Automatic Data Processing, Inc.
  
506,940
         
   
Machinery - 2.76%
    
               5,100
  
Deere & Co.
  
614,397
         
   
Multiline Retail - 1.78%
    
               4,300
  
Macy's, Inc.
  
171,699
               4,300
  
Nordstrom, Inc.
  
223,299
       
394,998
         
   
Networking Equipment - 2.19%
    
             18,120
  
Cisco Systems, Inc.*
  
487,790
         
   
Oil & Gas - 10.66%
    
               6,100
  
BP plc - ADR
  
408,761
               6,037
  
Chevron Corp.
  
491,955
               6,333
  
ConocoPhillips
  
490,364
               3,200
  
Devon Energy Corp.
  
245,696
               5,771
  
Exxon Mobil Corp.
  
479,974
               2,925
  
Suncor Energy, Inc.#
  
255,002
       
2,371,752
         
   
Semiconductor Equipment - 1.06%
    
               4,300
  
KLA-Tencor Corp.
  
236,414
         
   
Semiconductors - 2.10%
    
             10,800
  
Intel Corp.
  
239,436
               6,450
  
Texas Instruments, Inc.
  
228,072
       
467,508
         
   
Specialty Retail - 3.74%
    
               7,920
  
Nike, Inc. - Class B
  
449,460
             15,225
  
Staples, Inc.
  
381,539
       
830,999
         
   
Transportation - 1.07%
    
               2,140
  
FedEx Corp.
  
238,867
         
   
TOTAL COMMON STOCKS (Cost $17,110,767)
  
21,072,699
         
 Shares
  
SHORT-TERM INVESTMENTS - 5.27%
  
Value
         
        1,171,555
  
Federated Cash Trust Treasury Money Market Fund (Cost $1,171,555)
1,171,555
         
   
Total Investments in Securities (Cost $18,282,322) - 100.00%
  
22,244,254
   
Other Assets in Excess of Liabilities - 0.00%
  
864
   
Net Assets - 100.00%
$
22,245,118
         
* Non-income producing security.
    
# U.S. traded security of a foreign issuer.
    
ADR - American Depository Receipt
    
 
The cost basis of investments for federal income tax purposes at May 31, 2007 was as follows**:

Cost of investments
$
18,337,827
     
Gross unrealized appreciation
$
4,211,838
Gross unrealized depreciation
  
(305,411)
Net unrealized appreciation
$
3,906,427
     

**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 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   7/30/2007                                                                 



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   7/30/2007                                                                 

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

Date   7/24/2007                                                                 

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