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, 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: June 30, 2008



Date of reporting period:  March 31, 2008
 
Item 1. Schedules of Investments.
McCarthy Multi-Cap Stock Fund
      
Schedule of Investments
      
at March 31, 2008 (Unaudited)
      
           
 Shares
      
Value
  
   
COMMON STOCKS - 97.33%
      
   
Biotechnology - 6.94%
      
             25,000
  
Amgen, Inc.*
$
1,044,500
  
             18,760
  
Genentech, Inc.*
  
1,522,937
  
       
2,567,437
  
   
Commercial Services & Supplies - 2.00%
      
             15,755
  
FirstService Corp.*#
  
341,411
  
               8,700
  
ITT Educational Services, Inc.*
  
399,591
  
       
741,002
  
   
Consumer Finance - 2.46%
      
             20,840
  
American Express Co.
  
911,125
  
   
Energy Equipment & Services - 5.60%
      
             15,000
  
ENSCO International, Inc.
  
939,300
  
             16,200
  
Hercules Offshore, Inc.*
  
406,944
  
               8,600
  
Noble Corp.
  
427,162
  
               8,600
  
Pride International, Inc.*
  
300,570
  
       
2,073,976
  
   
Food & Staples Retailing - 2.65%
      
             24,191
  
CVS Caremark Corp.
  
979,977
  
   
Food Products - 1.04%
      
             14,000
  
J & J Snack Foods Corp.
  
384,580
  
   
Health Care Equipment & Supplies - 5.37%
      
             34,700
  
Covidien Ltd.
  
1,535,475
  
             29,890
  
Palomar Medical Technologies, Inc.*
  
451,339
  
       
1,986,814
  
   
Health Care Providers & Services - 10.48%
      
             24,500
  
Cardinal Health, Inc.
  
1,286,495
  
             14,183
  
Laboratory Corporation of America Holdings*
  
1,045,003
  
             32,400
  
UnitedHealth Group, Inc.
  
1,113,264
  
               9,800
  
WellPoint, Inc.*
  
432,474
  
       
3,877,236
  
   
Healthcare Services - 0.46%
      
             18,121
  
Nighthawk Radiology Holdings, Inc.*
  
169,613
  
   
Household & Personal Care Products - 3.54%
      
             18,700
  
Procter & Gamble Co.
  
1,310,309
  
   
Insurance - 21.35%
      
             34,000
  
AEGON N.V. - ADR
  
497,760
  
             17,730
  
American International Group, Inc.
  
766,823
  
             14,906
  
Argo Group International Holdings Ltd.*
  
529,461
  
                  394
  
Berkshire Hathaway Inc. - Class B*
  
1,762,323
  
               5,700
  
Everest Re Group, Ltd.
  
510,321
  
               5,900
  
FBL Financial Group, Inc. - Class A
  
168,091
  
               3,108
  
Hanover Insurance Group, Inc.
  
127,863
  
             27,015
  
Horace Mann Educators Corp.
  
472,222
  
             23,000
  
Lincoln National Corp.
  
1,196,000
  
             22,300
  
Montpelier Re Holdings Ltd.
  
357,915
  
             10,000
  
RenaissanceRe Holdings Ltd.
  
519,100
  
               9,500
  
Torchmark Corp.
  
571,045
  
             84,000
  
Triad Guaranty, Inc.*
  
420,000
  
       
7,898,924
  
   
IT Services - 4.00%
      
             69,628
  
Western Union Co.
  
1,480,988
  
   
Leisure Equipment & Products - 1.35%
      
             26,500
  
Pool Corp.
  
500,585
  
   
Machinery - 4.55%
      
             12,000
  
Actuant Corp. - Class A
  
362,520
  
             12,230
  
Kaydon Corp.
  
537,019
  
             20,800
  
Westinghouse Air Brake Technologies Corp.
  
783,328
  
       
1,682,867
  
   
Media - 2.70%
      
             27,000
  
The McGraw-Hill Companies, Inc.
  
997,650
  
   
Metals & Mining - 3.46%
      
             13,300
  
Freeport-McMoRan Copper & Gold, Inc.
  
1,279,726
  
   
Mortgage REITs - 1.15%
      
             11,683
  
Redwood Trust, Inc.
  
424,677
  
   
Oil & Gas - 3.50%
      
               5,400
  
Anadarko Petroleum Corp.
  
340,362
  
               4,000
  
Apache Corp.
  
483,280
  
               4,506
  
Devon Energy Corp.
  
470,111
  
       
1,293,753
  
   
Oil & Gas Exploration & Production - 3.15%
      
             25,300
  
Chesapeake Energy Corp.
  
1,167,595
  
   
Pharmaceuticals - 8.94%
      
             20,346
  
Johnson & Johnson
  
1,319,845
  
           110,400
  
Mylan, Inc.
  
1,280,640
  
             16,580
  
Schering-Plough Corp.
  
238,918
  
             36,440
  
Valeant Pharmaceuticals International*
  
467,525
  
       
3,306,928
  
   
Semiconductor & Semiconductor Equipment - 1.43%
      
             57,200
  
Micrel, Inc.
  
530,244
  
   
Software - 1.21%
      
               8,350
  
FactSet Research Systems, Inc.
  
449,814
  
   
TOTAL COMMON STOCKS (Cost $34,774,198)
  
36,015,820
  
           
   
PREFERRED STOCKS - 1.75%
      
   
Pharmaceuticals - 1.75%
      
               4,225
  
Schering-Plough Corp. (Cost $887,260)
  
647,186
  
           
   
SHORT-TERM INVESTMENTS - 1.08%
      
           401,371
  
Federated Cash Trust Treasury Money Market Fund (Cost $401,371)
  
401,371
  
   
Total Investments in Securities (Cost $36,062,829) - 100.16%
  
37,064,377
  
   
Liabilities in Excess of Other Assets - (0.16)%
  
(60,926
 )
   
NET ASSETS - 100.00%
$
37,003,451
  
           
   
* 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 March 31, 2008 was as follows**:

Cost of investments
$
36,062,829
  
       
Gross unrealized appreciation
$
4,639,807
  
Gross unrealized depreciation
  
(3,638,259
) 
Net unrealized appreciation
$
1,001,548
  
       

**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/Principal Executive Officer and Treasurer/Principal 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   5/27/2008                                                                     



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   5/27/2008                                                                     

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

Date   5/27/2008                                                                     

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