N-Q 1 astrigel_nq.htm QUARTERLY NOTICE OF PORTFOLIO HOLDINGS astrigel_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 East Michigan St.
Milwaukee, WI 53202
(Address of principal executive offices) (Zip code)



Jeanine M. Bajczyk
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: September 30, 2008



Date of reporting period:  December 31, 2007

 
 
 
Item 1. Schedules of Investments.
 
 
Rigel U.S. Equity Large Cap Growth Fund
      
Schedule of Investments
      
at December 31, 2007 (Unaudited)
      
           
Shares
      
Value
  
   
COMMON STOCKS - 94.74%
      
   
Aerospace & Defense - 9.81%
      
 
23,640
  
General Dynamics Corp.
   $
2,103,724
  
 
22,993
  
Honeywell International, Inc.
    
1,415,679
  
 
25,309
  
L-3 Communications Holdings, Inc.
    
2,681,235
  
 
17,663
  
Precision Castparts Corp.
    
2,449,858
  
 
40,491
  
Raytheon Co.
    
2,457,804
  
 
17,455
  
United Technologies Corp.
    
1,336,006
  
           
12,444,306
  
               
     
Auto Components - 0.30%
        
 
10,618
  
Johnson Controls, Inc.
    
382,673
  
               
     
Beverages - 2.72%
        
 
39,570
  
The Coca-Cola Co.
    
2,428,411
  
 
13,382
  
PepsiCo, Inc.
    
1,015,694
  
           
3,444,105
  
               
     
Biotechnology - 2.91%
        
 
7,557
  
Celgene Corp.*
    
349,209
  
 
72,612
  
Gilead Sciences, Inc.*
    
3,340,878
  
           
3,690,087
  
               
     
Capital Markets - 2.92%
        
 
42,075
  
Bank Of New York Mellon Corp.
    
2,051,577
  
 
7,640
  
BlackRock, Inc.
    
1,656,352
  
           
3,707,929
  
               
     
Chemicals - 2.58%
        
 
21,420
  
Air Products & Chemicals, Inc.
    
2,112,655
  
 
12,995
  
Praxair, Inc.
    
1,152,786
  
           
3,265,441
  
               
     
Communications Equipment - 4.92%
        
 
79,353
  
Cisco Systems, Inc.*
    
2,148,086
  
 
21,687
  
Juniper Networks, Inc.*
    
720,008
  
 
87,955
  
Nokia Oyj - ADR
    
3,376,593
  
           
6,244,687
  
               
     
Computers & Peripherals - 7.92%
        
 
17,255
  
Apple, Inc.*
    
3,417,870
  
 
88,837
  
EMC Corp.*
    
1,646,150
  
 
78,708
  
Hewlett-Packard Co.
    
3,973,180
  
 
9,355
  
International Business Machines Corp.
    
1,011,275
  
           
10,048,475
  
               
     
Diversified Telecommunication Services - 1.63%
        
 
49,799
  
AT&T, Inc.
    
2,069,646
  
               
 
 

 
     
Energy Equipment & Services - 8.46%
        
 
69,442
  
Cameron International Corp.*
    
3,342,244
  
 
25,080
  
National-Oilwell Varco Inc.*
    
1,842,377
  
 
26,843
  
Noble Corp.#
    
1,516,898
  
 
13,363
  
Transocean, Inc.*#
    
1,912,913
  
 
30,717
  
Weatherford International Ltd.*
    
2,107,186
  
           
10,721,618
  
               
     
Food & Staples Retailing - 2.19%
        
 
69,825
  
CVS Caremark Corp.
    
2,775,544
  
               
     
Health Care Equipment & Supplies - 3.52%
        
 
51,972
  
Baxter International, Inc.
    
3,016,974
  
 
19,297
  
Stryker Corp.
    
1,441,872
  
           
4,458,846
  
               
     
Health Care Providers & Services - 9.04%
        
 
79,435
  
Express Scripts, Inc.*
    
5,798,755
  
 
27,350
  
Humana, Inc.*
    
2,059,728
  
 
35,510
  
Medco Health Solutions, Inc.*
    
3,600,714
  
           
11,459,197
  
               
     
Hotels, Restaurants & Leisure - 2.70%
        
 
58,090
  
McDonald's Corp.
    
3,422,082
  
               
     
Household Products - 1.02%
        
 
17,665
  
Procter & Gamble Co.
    
1,296,964
  
               
     
Industrial Conglomerates - 2.21%
        
 
39,245
  
Textron, Inc.
    
2,798,169
  
               
     
Insurance - 3.43%
        
 
29,803
  
AFLAC, Inc.
    
1,866,562
  
 
51,995
  
Aon Corp.
    
2,479,641
  
           
4,346,203
  
               
     
IT Services - 0.69%
        
 
4,095
  
MasterCard, Inc. - Class A
    
881,244
  
               
     
Life Sciences Tools & Services - 3.24%
        
 
35,301
  
Thermo Fisher Scientific, Inc.*
    
2,036,162
  
 
26,157
  
Waters Corp.*
    
2,068,234
  
           
4,104,396
  
               
     
Machinery - 1.87%
        
 
25,500
  
Deere & Co.
    
2,374,560
  
               
     
Multi-Utilities & Unregulated Power - 1.74%
        
 
22,453
  
Public Service Enterprise Group, Inc.
    
2,205,783
  
               
     
Oil & Gas - 0.73%
        
 
9,845
  
Exxon Mobil Corp.
    
922,378
  
               
     
Oil, Gas & Consumable Fuels - 2.24%
        
 
79,389
  
The Williams Companies, Inc.
    
2,840,538
  
               
     
Personal Products - 2.32%
        
 
74,542
  
Avon Products, Inc.
    
2,946,645
  
               
 
 

 
     
Pharmaceuticals - 3.17%
        
 
62,200
  
Merck & Co., Inc.
    
3,614,442
  
 
15,109
  
Schering-Plough Corp.
    
402,504
  
           
4,016,946
  
               
     
Road & Rail - 0.76%
        
 
7,659
  
Union Pacific Corp.
    
962,124
  
               
     
Semiconductor & Semiconductor Equipment - 3.07%
        
 
94,265
  
Intel Corp.
    
2,513,105
  
 
40,582
  
NVIDIA Corp.*
    
1,380,600
  
           
3,893,705
  
               
     
Software - 5.64%
        
 
114,600
  
Microsoft Corp.
    
4,079,760
  
 
136,030
  
Oracle Corp.*
    
3,071,557
  
           
7,151,317
  
               
     
Textiles, Apparel & Luxury Goods - 0.99%
        
 
19,537
  
NIKE, Inc. - Class B
    
1,255,057
  
               
     
Total Common Stocks (Cost $102,937,923)
    
120,130,665
  
               
               
     
SHORT-TERM INVESTMENTS - 7.36%
        
 
3,574,813
  
Aim Liquid Assets
    
3,574,813
  
 
3,578,664
  
AIM STIT-STIC Prime Portfolio
    
3,578,664
  
 
2,181,150
  
AIM STIT-Treasury Portfolio
    
2,181,150
  
     
Total Short-Term Investments (Cost $9,334,627)
    
9,334,627
  
               
     
Total Investments in Securities (Cost $112,272,550) - 102.10%
    
129,465,292
  
     
Liabilities in Excess of Other Assets - (2.10)%
     (2,664,234 )
     
Net Assets - 100.00%
   $
126,801,058
  
               
* 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 December 31, 2007 was as follows**:

Cost of investments
   $
112,776,821
  
         
Gross unrealized appreciation
   $
18,127,106
  
Gross unrealized depreciation
     (1,438,635 )
Net unrealized appreciation
   $
16,688,471
  
         

**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.
 
 
 
 
Rigel U.S. Equity Small-Mid Cap Growth Fund
      
Schedule of Investments
      
at December 31, 2007 (Unaudited)
      
           
Shares
      
Value
  
   
COMMON STOCKS - 94.60%
      
   
Aerospace & Defense - 5.54%
      
 
1,082
  
Alliant Techsystems, Inc.*
   $
123,088
  
 
5,550
  
Orbital Sciences Corp.*
    
136,086
  
 
1,601
  
Triumph Group, Inc.
    
131,842
  
           
391,016
  
               
     
Beverages - 0.41%
        
 
650
  
Hansen Natural Corp.*
    
28,788
  
               
     
Biotechnology - 1.90%
        
 
2,675
  
Applera Corporation - Applied Biosystems Group
    
90,736
  
 
1,000
  
LifeCell Corp.*
    
43,110
  
           
133,846
  
               
     
Capital Markets - 5.05%
        
 
1,100
  
FCStone Group, Inc.*
    
50,633
  
 
2,375
  
Federated Investors, Inc.
    
97,755
  
 
1,150
  
GFI Group, Inc.*
    
110,078
  
 
2,900
  
optionsXpress Holdings, Inc.
    
98,078
  
           
356,544
  
               
     
Chemicals - 4.64%
        
 
2,880
  
Airgas, Inc.
    
150,077
  
 
3,250
  
Sigma-Aldrich Corp.
    
177,450
  
           
327,527
  
               
     
Commercial Services & Supplies - 7.33%
        
 
1,825
  
FTI Consulting, Inc.*
    
112,493
  
 
1,971
  
Healthcare Services Group, Inc.
    
41,746
  
 
1,117
  
Huron Consulting Group, Inc.*
    
90,064
  
 
1,725
  
I H S, Inc.*
    
104,466
  
 
2,837
  
Stericycle, Inc.*
    
168,518
  
           
517,287
  
               
     
Communications Equipment - 5.28%
        
 
1,985
  
Comtech Telecommunications Corp.*
    
107,210
  
 
2,600
  
Harris Corp.
    
162,968
  
 
2,975
  
ViaSat, Inc.*
    
102,429
  
           
372,607
  
               
     
Computers & Peripherals - 1.19%
        
 
2,045
  
Synaptics, Inc.*
    
84,172
  
               
     
Construction & Engineering - 0.70%
        
 
520
  
Jacobs Engineering Group, Inc.*
    
49,717
  
               
     
Containers & Packaging - 1.17%
        
 
2,025
  
AptarGroup, Inc.
    
82,843
  
               
 
 

 
     
Electronic Equipment & Instruments - 3.56%
        
 
1,330
  
Amphenol, Inc.
    
61,672
  
 
3,400
  
National Instruments Corp.
    
113,322
  
 
2,525
  
Trimble Navigation Ltd.*
    
76,356
  
           
251,350
  
     
Energy Equipment & Services - 5.20%
        
 
1,790
  
Cameron International Corp.*
    
86,153
  
 
1,100
  
Core Laboratories NV*#
    
137,192
  
 
2,540
  
FMC Technologies, Inc.*
    
144,018
  
           
367,363
  
               
     
Food Products - 1.39%
        
 
7,350
  
SunOpta, Inc.*#
    
98,123
  
               
     
Gas Utilities - 0.77%
        
 
850
  
Energen Corp.
    
54,595
  
               
     
Health Care Equipment & Supplies - 6.72%
        
 
1,150
  
Gen-Probe, Inc.*
    
72,369
  
 
2,012
  
Hologic, Inc.*
    
138,104
  
 
2,050
  
Inverness Medical Innovations, Inc.*
    
115,169
  
 
2,275
  
Respironics, Inc.*
    
148,967
  
           
474,609
  
               
     
Health Care Providers & Services - 4.61%
        
 
3,125
  
Amedisys, Inc.*
    
151,625
  
 
3,925
  
VCA Antech, Inc.*
    
173,603
  
           
325,228
  
               
     
Health Care Technology - 3.54%
        
 
1,525
  
Cerner Corp.*
    
86,010
  
 
4,100
  
Omnicell, Inc.*
    
110,413
  
 
2,450
  
Phase Forward, Inc.*
    
53,288
  
           
249,711
  
               
     
Hotels, Restaurants & Leisure - 1.93%
        
 
650
  
Chipoltle Mexican Grill, Inc.*
    
95,595
  
 
815
  
LIFE TIME FITNESS, Inc.*
    
40,489
  
           
136,084
  
               
     
Insurance - 1.00%
        
 
1,050
  
Assurant, Inc.
    
70,245
  
               
     
Internet & Catalog Retail - 3.18%
        
 
1,450
  
Priceline.com, Inc.*
    
166,547
  
 
2,255
  
Shutterfly, Inc.*
    
57,773
  
           
224,320
  
               
     
IT Services - 1.31%
        
 
5,200
  
CyberSource Corp.*
    
92,404
  
               
     
Life Sciences Tools & Services - 5.37%
        
 
1,825
  
Covance, Inc.*
    
158,081
  
 
2,042
  
Icon plc - ADR
    
126,318
  
 
1,600
  
Illumina, Inc.*
    
94,816
  
           
379,215
  
               
 
 

 
     
Machinery - 4.96%
        
 
1,025
  
Flowserve Corp.
    
98,605
  
 
2,250
  
Harsco Corp.
    
144,158
  
 
2,200
  
The Manitowoc Company, Inc.
    
107,426
  
           
350,189
  
               
     
Media - 1.64%
        
 
1,490
  
Morningstar, Inc.*
    
115,848
  
               
     
Oil, Gas & Consumable Fuels - 1.45%
        
 
2,460
  
Arena Resources, Inc.*
    
102,607
  
               
     
Personal Products - 1.57%
        
 
1,465
  
Chattem, Inc.*
    
110,666
  
               
     
Semiconductor & Semiconductor Equipment - 1.16%
        
 
2,376
  
Power Integrations, Inc.*
    
81,889
  
               
     
Software - 7.83%
        
 
2,900
  
ANSYS, Inc.*
    
120,234
  
 
1,409
  
FactSet Research Systems, Inc.
    
78,481
  
 
6,700
  
Informatica Corp.*
    
120,734
  
 
1,745
  
MICROS Systems, Inc.*
    
122,429
  
 
5,950
  
Nuance Communications, Inc.*
    
111,146
  
           
553,024
  
               
     
Specialty Retail - 1.99%
        
 
2,830
  
Dick's Sporting Goods, Inc.*
    
78,561
  
 
1,625
  
Guess?, Inc.
    
61,571
  
           
140,132
  
               
     
Textiles, Apparel & Luxury Goods - 2.21%
        
 
1,075
  
Crocs, Inc.*
    
39,571
  
 
750
  
Deckers Outdoor Corp.*
    
116,295
  
           
155,866
  
               
     
Total Common Stocks (Cost $6,727,583)
    
6,677,815
  
               
               
     
SHORT-TERM INVESTMENTS - 3.36%
        
 
237,386
  
AIM STIT-STIC Prime Portfolio (Cost $237,386)
    
237,386
  
               
     
Total Investments in Securities (Cost $6,964,969) - 97.96%
    
6,915,201
  
     
Other Assets in Excess of Liabilities - 2.04%
    
144,307
  
     
Net Assets - 100.00%
   $
7,059,508
  
               
* 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 December 31, 2007 was as follows**:

Cost of investments
   $
6,964,969
  
         
Gross unrealized appreciation
   $
24,463
  
Gross unrealized depreciation
     (74,231 )
Net unrealized depreciation
   $ (49,768 )
         

**Because tax adjustments are calculated annually, the above table does not reflect the tax adjustments outstanding.
 
 
 
 
 

 
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/ Douglas G. Hess                                      
                                                                    Douglas G. Hess, President

Date­­  2/28/2008                                                                                                                                                                                                         



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  2/28/2008                                                                                                                                                                                                         

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

Date  2/28/2008                                                                                              

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