N-Q 1 chase_nq.htm QUARTERLY REPORT OF PORTFOLIO HOLDINGS chase_nq.htm
As filed with the Securities and Exchange Commission on February 29, 2008



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)



Jeanine M. Bajczyk
Advisors Series Trust
615 E. 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: September 30, 2008



Date of reporting period: December 31, 2007

Item 1. Schedules of Investments.
Chase Growth Fund
        
Schedule of Investments
        
at December 31, 2007 (Unaudited)
        
             
Shares
        
 Value
  
   
COMMON STOCKS - 96.2%
        
   
Aerospace/Aircraft - 2.1%
        
94,700
  
Precision Castparts Corp.
  
  $
        13,134,890
  
   
Beverage - 6.9%
        
406,800
  
The Coca-Cola Co.
    
           24,965,316
  
232,600
  
PepsiCo, Inc.
    
           17,654,340
  
         
           42,619,656
  
   
Chemicals - Fertilizers - 3.2%
        
137,800
  
Potash Corporation of Saskatchewan Inc.+
    
           19,837,688
  
   
Chemicals - Specialty - 2.4%
        
168,300
  
Praxair, Inc.
    
           14,929,893
  
   
Computer Hardware - 4.6%
        
560,800
  
Hewlett-Packard Co.
    
           28,309,184
  
   
Computer - Semiconductors - 3.2%
        
740,300
  
Intel Corp.
    
           19,736,398
  
   
Computer Software & Services - 6.1%
        
798,300
  
Microsoft Corp.
    
           28,419,480
  
408,000
  
Oracle Corp.*
    
             9,212,640
  
         
           37,632,120
  
   
Conglomerates - 6.7%
        
           280,100
  
Honeywell International Inc.
    
           17,245,757
  
310,400
  
United Technologies Corp.
    
           23,758,016
  
         
           41,003,773
  
   
Consumer Goods & Services - 2.5%
        
208,400
  
The Procter & Gamble Co.
    
           15,300,728
  
   
Defense - 9.2%
        
198,000
  
General Dynamics Corp.
    
           17,620,020
  
214,400
  
Lockheed Martin Corp.
    
           22,567,744
  
221,700
  
Rockwell Collins, Inc.
    
           15,955,749
  
         
           56,143,513
  
   
Drugs - Generic - 3.0%
        
392,800
  
Teva Pharmaceutical Industries Ltd. - ADR
    
           18,257,344
  
   
Energy/Oil Service - 5.5%
        
97,000
  
National-Oilwell Varco Inc.*
    
             7,125,620
  
149,700
  
Schlumberger Ltd.
    
           14,725,989
  
82,133
  
Transocean Inc.*
    
           11,757,339
  
         
           33,608,948
  
   
Food - 0.1%
        
9,400
  
Archer-Daniels-Midland Co.
    
                436,442
  
   
Health Care Benefits - 3.5%
        
376,300
  
Aetna Inc.
    
           21,723,799
  
   
Health Care Products - 3.4%
        
316,400
  
Johnson & Johnson
    
           21,103,880
  
   
Health Care Services - 4.8%
        
267,100
  
Express Scripts, Inc.*
    
           19,498,300
  
95,400
  
Medco Health Solutions, Inc.*
    
             9,673,560
  
         
           29,171,860
  
   
Household Products - 1.5%
        
118,600
  
Colgate-Palmolive Co.
    
             9,246,056
  
   
Machinery - 6.5%
        
115,000
  
Danaher Corp.
    
           10,090,100
  
321,600
  
Deere & Co.
    
           29,947,392
  
         
           40,037,492
  
   
Medical Products - 5.3%
        
337,600
  
Baxter International, Inc.
    
           19,597,680
  
170,600
  
Stryker Corp.
    
           12,747,232
  
         
           32,344,912
  
   
Medical Supplies - 1.5%
        
112,100
  
Becton, Dickinson and Co.
    
             9,369,318
  
   
Restaurants - 4.5%
        
470,000
  
McDonald's Corp.
    
           27,687,700
  
   
Retail - Drug Stores - 1.8%
        
270,100
  
CVS/Caremark Corp.
    
           10,736,475
  
   
Telecommunication Equipment - 4.2%
        
668,904
  
Nokia Corp. - ADS
    
           25,679,225
  
   
Wireless Telecommunication - 3.7%
        
220,800
  
Mobile TeleSystems - ADR
    
           22,475,232
  
   
TOTAL COMMON STOCKS (Cost $489,484,600)
    
         590,526,526
  
             
   
SHORT-TERM INVESTMENTS - 3.9%
        
23,911,491
  
Federated Treasury Cash Series II Fund
    
           23,911,491
  
   
TOTAL SHORT-TERM INVESTMENTS (Cost $23,911,491)
  
           23,911,491
  
   
Total Investments in Securities (Cost $513,396,091) - 100.1%
  
      614,438,017
  
   
Other Liabilities in Excess of Assets - (0.1%)
    
             (586,137
 )
   
NET ASSETS - 100.0%
  
 $
    613,851,880
  
             
 
ADR - American Depositary Receipt
      
ADS - American Depositary Share
      
* Non-income producing security.
      
 + U.S. traded security of a foreign issuer.
      
 
The cost basis of investments for federal tax purposes at December 31, 2007 was as follows**:
      
       
Cost of investments
 $
514,130,770
  
Gross unrealized appreciation
 $
103,784,116
  
Gross unrealized depreciation
  
(3,476,869
 )
Net unrealized appreciation
 $
100,307,247
  
       
 
**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.



Chase Mid-Cap Growth Fund
        
Schedule of Investments
        
at December 31, 2007 (Unaudited)
        
             
Shares
        
 Value
  
   
COMMON STOCKS - 97.3%
        
   
Aerospace/Aircraft - 2.9%
        
6,700
  
Precision Castparts Corp.
  
  $
        929,290
  
   
Biotechnology - 1.5%
        
7,200
  
Techne Corp.*
    
           475,560
  
   
Chemicals - Specialty - 6.5%
        
19,500
  
Airgas, Inc.
    
        1,016,145
  
19,600
  
Sigma-Aldrich Corp.
    
        1,070,160
  
         
        2,086,305
  
   
Computer Software & Services - 8.6%
        
22,500
  
Autodesk, Inc.*
    
        1,119,600
  
14,900
  
Citrix Systems, Inc.*
    
           566,349
  
15,300
  
MICROS Systems, Inc.*
    
        1,073,448
  
         
        2,759,397
  
   
Computer - Storage - 3.1%
        
32,900
  
Western Digital Corp.*
    
           993,909
  
   
Conglomerates - 3.7%
        
             17,800
  
ITT Corp.
    
        1,175,512
  
   
Defense - 5.6%
        
5,300
  
Alliant Techsystems Inc.*
    
           602,928
  
16,500
  
Rockwell Collins, Inc.
    
        1,187,505
  
         
        1,790,433
  
   
Educational Services - 1.1%
        
4,100
  
ITT Educational Services, Inc.*
    
           349,607
  
   
Electrical Equipment - 3.0%
        
20,700
  
Ametek, Inc.
    
           969,588
  
   
Electronics - 1.7%
        
             18,100
  
Trimble Navigation Ltd.*
    
           547,344
  
   
Energy/Oil & Gas Drilling - 3.8%
        
               8,600
  
Diamond Offshore Drilling, Inc.
    
        1,221,200
  
   
Energy/Oil & Gas Exploration & Production - 2.3%
        
14,200
  
Range Resources Corp.
    
           729,312
  
   
Energy/Oil Service - 5.0%
        
             22,400
  
Cameron International Corp.*
    
        1,078,112
  
4,200
  
Core Laboratories N.V.*+
    
           523,824
  
         
        1,601,936
  
   
Engineering/Construction - 4.1%
        
13,800
  
Jacobs Engineering Group Inc.*
    
        1,319,418
  
   
Food - 1.4%
        
19,600
  
Flowers Food, Inc.
    
           458,836
  
   
Health Care Services - 11.0%
        
7,700
  
Amedisys, Inc.*
    
           373,604
  
7,300
  
Covance Inc.*
    
           632,326
  
17,300
  
Express Scripts, Inc.*
    
        1,262,900
  
6,600
  
ICON plc - ADR*
    
           408,276
  
18,500
  
VCA Antech, Inc.*
    
           818,255
  
         
        3,495,361
  
   
Household Products - 1.7%
        
10,100
  
Church & Dwight Co., Inc.
    
           546,107
  
   
Internet Retail - 3.4%
        
9,300
  
Priceline.com, Inc.*
    
        1,068,198
  
   
Medical Products - 1.2%
        
5,300
  
Millipore Corp.*
    
           387,854
  
   
Medical Supplies - 1.6%
        
5,200
  
C. R. Bard, Inc.
    
           492,960
  
   
Metal - 1.5%
        
13,500
  
AMCOL International Corp.
    
           486,405
  
   
Retail - Drug Stores - 2.0%
        
13,500
  
Longs Drug Stores Corp.
    
           634,500
  
   
Retail - Specialty - 5.6%
        
24,100
  
Dick's Sporting Goods, Inc.*
    
           669,016
  
18,000
  
GameStop Corp. - Class A*
    
        1,117,980
  
         
        1,786,996
  
   
Service Companies - 5.1%
        
7,900
  
Huron Consulting Group Inc.*
    
           636,977
  
16,600
  
Stericycle, Inc.*
    
           986,040
  
         
        1,623,017
  
   
Shipping - 2.0%
        
13,800
  
Kirby Corp.*
    
           641,424
  
   
Telecommunication Equipment - 3.1%
        
15,800
  
Harris Corp.
    
           990,344
  
   
Utilities - Electric/Gas - 4.8%
        
14,600
  
Energen Corp.
    
           937,758
  
11,000
  
Questar Corp.
    
           595,100
  
         
        1,532,858
  
   
TOTAL COMMON STOCKS (Cost $25,016,924)
    
      31,093,671
  
             
   
SHORT-TERM INVESTMENTS - 2.8%
        
898,734
  
Federated Treasury Cash Series II Fund
    
           898,734
  
   
TOTAL SHORT-TERM INVESTMENTS (Cost $898,734)
  
           898,734
  
   
Total Investments in Securities (Cost $25,915,658) - 100.1%
  
   31,992,405
  
   
Other Liabilities in Excess of Assets - (0.1%)
    
          (26,087
 )
   
NET ASSETS - 100.0%
  
$
 31,966,318
  
             
 
ADR - American Depositary Receipt
* Non-income producing security.
 + U.S. traded security of a foreign issuer.
 
The cost basis of investments for federal tax purposes at December 31, 2007 was as follows**:
  
       
Cost of investments
  $
25,915,658
  
Gross unrealized appreciation
 $
6,376,666
  
Gross unrealized depreciation
  
(299,919
 )
Net unrealized appreciation
 $
6,076,747
  
       

**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/ Douglas G. Hess                   
Douglas G. Hess, President

Date   2/20/08                                                                               



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/ Douglas G. Hess                   
Douglas G. Hess, President

Date   2/20/08                                                                              

By (Signature and Title)* /s/ Cheryl L. King                         
Cheryl L. King, Treasurer

Date   2/20/08                                                                              

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