N-Q 1 chase_nq.htm QUARTERLY NOTICE OF PORTFOLIO HOLDINGS chase_nq.htm
As filed with the Securities and Exchange Commission on August 27, 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: June 30, 2008

Item 1. Schedules of Investments.
Chase Growth Fund
        
Schedule of Investments
      
at June 30, 2008 (Unaudited)
      
           
Shares
      
 Value
  
   
COMMON STOCKS - 96.6%
      
   
Beverage - 1.9%
      
216,800
  
The Coca-Cola Co.
   $
         11,269,264
  
   
Chemicals - Fertilizers - 4.1%
      
106,800
  
Potash Corporation of Saskatchewan Inc.+
  
            24,411,276
  
   
Chemicals - Specialty - 4.2%
      
265,400
  
Praxair, Inc.
  
            25,011,296
  
   
Computer Hardware - 4.4%
      
222,300
  
International Business Machines Corp.
  
            26,349,219
  
   
Computer Software & Services - 10.6%
      
           504,000
  
Adobe Systems Inc.*
  
            19,852,560
  
258,300
  
CA Inc.
  
              5,964,147
  
1,087,300
  
Oracle Corp.*
  
            22,833,300
  
753,600
  
Symantec Corp.*
  
            14,582,160
  
       
            63,232,167
  
   
Defense - 6.1%
      
273,700
  
General Dynamics Corp.
  
            23,045,540
  
138,500
  
Lockheed Martin Corp.
  
            13,664,410
  
       
            36,709,950
  
   
Drugs - Generic - 3.1%
      
412,200
  
Teva Pharmaceutical Industries Ltd. - ADR
  
            18,878,760
  
   
Electrical Equipment - 1.9%
      
407,600
  
ABB Ltd. - ADR*
  
            11,543,232
  
   
Energy/Oil & Gas Exploration & Production - 9.7%
      
142,400
  
Apache Corp.
  
            19,793,600
  
148,600
  
Devon Energy Corp.
  
            17,855,776
  
170,900
  
EnCana Corp.+
  
            15,539,937
  
67,300
  
XTO Energy, Inc.
  
              4,610,723
  
       
            57,800,036
  
   
Energy/Oil Service - 3.9%
      
104,333
  
Transocean Inc.*
  
            15,899,306
  
147,400
  
Weatherford International Ltd.*
  
              7,309,566
  
       
            23,208,872
  
   
Footwear - 2.8%
      
275,700
  
NIKE, Inc. - Class B
  
            16,434,477
  
   
Health Care Products - 1.8%
      
165,700
  
Johnson & Johnson
  
            10,661,138
  
   
Health Care Services - 1.5%
      
146,200
  
Express Scripts, Inc.*
  
              9,169,664
  
   
Household Products - 3.2%
      
274,200
  
Colgate-Palmolive Co.
  
            18,947,220
  
   
Insurance - Disability/Life - 3.5%
      
336,200
  
Aflac, Inc.
  
            21,113,360
  
   
Medical Products - 3.8%
      
354,300
  
Baxter International, Inc.
  
            22,653,942
  
   
Medical Supplies - 2.4%
      
179,900
  
Becton, Dickinson and Co.
  
            14,625,870
  
   
Office Products - 1.5%
      
369,600
  
Staples, Inc.
  
              8,778,000
  
   
Railroad - 2.8%
      
165,700
  
Burlington Northern Santa Fe Corp.
  
            16,551,773
  
   
Restaurants - 4.6%
      
493,300
  
McDonald's Corp.
  
            27,733,326
  
   
Retail - Discount - 6.8%
      
           179,500
  
Costco Wholesale Corp.
  
            12,590,130
  
495,700
  
Wal-Mart Stores, Inc.
  
            27,858,340
  
       
            40,448,470
  
   
Retail - Drug Stores - 1.9%
      
289,000
  
CVS/Caremark Corp.
  
            11,435,730
  
   
Service Companies - 2.6%
      
386,200
  
Accenture Ltd. - Class A
  
            15,726,064
  
   
Telecommunication Equipment - 7.5%
      
920,900
  
Corning Inc.
  
            21,226,745
  
530,200
  
QUALCOMM Inc.
  
            23,524,974
  
       
            44,751,719
  
   
TOTAL COMMON STOCKS (Cost $522,695,067)
  
          577,444,825
  
           
   
SHORT-TERM INVESTMENTS - 3.4%
      
20,134,936
  
Federated Treasury Cash Series II Fund
  
            20,134,936
  
   
TOTAL SHORT-TERM INVESTMENTS (Cost $20,134,936)
            20,134,936
  
   
Total Investments in Securities (Cost $542,830,003) - 100.0%
       597,579,761
  
   
Other Liabilities in Excess of Assets - 0.0%
  
              (151,675
)
   
NET ASSETS - 100.0%
   $
    597,428,086
  
           
 
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 June 30, 2008 was as follows**:
    
         
Cost of investments
 $
543,564,682
    
Gross unrealized appreciation
 $
71,527,156
    
Gross unrealized depreciation
  
(17,512,077
 )  
Net unrealized appreciation
 $
54,015,079
    
         
 
**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.
 

Chase Mid-Cap Growth Fund
      
Schedule of Investments
      
at June 30, 2008 (Unaudited)
      
           
Shares
      
 Value
  
   
COMMON STOCKS - 96.7%
      
   
Auto/Auto Parts - 1.3%
      
22,000
  
LKQ Corp.*
  $
             397,540
  
   
Biotechnology - 1.8%
      
7,200
  
Techne Corp.*
  
               557,208
  
   
Chemicals - 1.8%
      
14,200
  
Albemarle Corp.
  
               566,722
  
   
Chemicals - Fertilizers - 2.0%
      
4,100
  
CF Industries Holdings, Inc.
  
               626,480
  
   
Chemicals - Specialty - 6.0%
      
10,300
  
Airgas, Inc.
  
               601,417
  
10,600
  
Ecolab Inc.
  
               455,694
  
14,900
  
Sigma-Aldrich Corp.
  
               802,514
  
       
            1,859,625
  
   
Computer Software & Services - 4.2%
      
20,600
  
CA Inc.
  
               475,654
  
42,500
  
Symantec Corp.*
  
               822,375
  
       
            1,298,029
  
   
Computer - Storage - 2.4%
      
21,500
  
Western Digital Corp.*
  
               742,395
  
   
Conglomerates- 2.2%
      
12,500
  
Harsco Corp.
  
               680,125
  
   
Consumer Goods & Services - 1.0%
      
6,700
  
Matthews International Corp. - Class A
  
               303,242
  
   
Containers - 1.8%
      
8,500
  
Greif Inc. - Class A
  
               544,255
  
   
Defense - 1.7%
      
5,300
  
Alliant Techsystems Inc.*
  
               538,904
  
   
Electrical Equipment - 4.2%
      
21,700
  
Ametek, Inc.
  
            1,024,674
  
8,000
  
Woodward Governor Co.
  
               285,280
  
       
            1,309,954
  
   
Electrical Instruments - 1.6%
      
5,400
  
Mettler-Toledo International Inc.*
  
               512,244
  
   
Electronics - 2.2%
      
15,100
  
Amphenol Corp. - Class A
  
               677,688
  
   
Energy/Integrated - 2.3%
      
7,400
  
Murphy Oil Corp.
  
               725,570
  
   
Energy/Oil & Gas Drilling - 2.2%
      
5,600
  
Atwood Oceanics, Inc.*
  
               696,304
  
   
Energy/Oil & Gas Exploration & Production - 2.0%
      
9,300
  
Range Resources Corp.
  
               609,522
  
   
Energy/Oil Service - 5.9%
      
22,400
  
Cameron International Corp.*
  
            1,239,840
  
4,200
  
Core Laboratories N.V.*+
  
               597,870
  
       
            1,837,710
  
   
Engineering/Construction - 2.5%
      
9,600
  
Jacobs Engineering Group Inc.*
  
               774,720
  
   
Finance/Banks - 2.2%
      
10,000
  
Northern Trust Corp.
  
               685,700
  
   
Food - 2.1%
      
22,800
  
Flowers Food, Inc.
  
               646,152
  
   
Health Care Services - 7.1%
      
7,300
  
Covance Inc.*
  
               627,946
  
7,300
  
Express Scripts, Inc.*
  
               457,856
  
6,600
  
ICON plc - ADR*
  
               498,432
  
14,600
  
Pharmaceutical Product Development, Inc.
  
               626,340
  
       
            2,210,574
  
   
Household Products - 3.3%
      
18,200
  
Church & Dwight Co., Inc.
  
            1,025,570
  
   
Internet Retail - 2.7%
      
7,400
  
Priceline.com, Inc.*
  
               854,404
  
   
Machinery - 2.0%
      
13,600
  
Donaldson Company, Inc.
  
               607,104
  
   
Medical Products - 3.2%
      
24,300
  
St. Jude Medical, Inc.*
  
               993,384
  
   
Medical Supplies - 2.3%
      
8,100
  
C. R. Bard, Inc.
  
               712,395
  
   
Office Products - 2.9%
      
38,100
  
Staples, Inc.
  
               904,875
  
   
Railroad - 1.5%
      
13,600
  
Genesee & Wyoming Inc. - Class A*
  
               462,672
  
   
Restaurants - 2.1%
      
24,800
  
Burger King Holdings Inc.
  
               664,392
  
   
Retail - Discount - 3.1%
      
30,200
  
The TJX Companies, Inc.
  
               950,394
  
   
Retail - Specialty - 1.7%
      
13,400
  
GameStop Corp. - Class A*
  
               541,360
  
   
Service Companies - 2.9%
      
10,900
  
Copart, Inc.*
  
               466,738
  
8,100
  
Stericycle, Inc.*
  
               418,770
  
       
               885,508
  
   
Shipping - 2.1%
      
13,800
  
Kirby Corp.*
  
               662,400
  
   
Utilities - Electric/Gas - 6.4%
      
14,600
  
Energen Corp.
  
            1,139,238
  
11,900
  
Questar Corp.
  
               845,376
  
       
            1,984,614
  
   
TOTAL COMMON STOCKS (Cost $26,104,437)
  
          30,049,735
  
           
   
SHORT-TERM INVESTMENTS - 3.2%
      
983,004
  
Federated Treasury Cash Series II Fund
  
               983,004
  
   
TOTAL SHORT-TERM INVESTMENTS (Cost $983,004)
  
               983,004
  
   
Total Investments in Securities (Cost $27,087,441) - 99.9%
  
       31,032,739
  
   
Other Assets in Excess of Liabilities - 0.1%
  
               49,322
  
   
NET ASSETS - 100.0%
  $
     31,082,061
  
           
 
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 June 30, 2008 was as follows**:
    
         
Cost of investments
 $
27,087,441
    
Gross unrealized appreciation
 $
4,775,386
    
Gross unrealized depreciation
  
(830,088
 )  
Net unrealized appreciation
 $
3,945,298
    
         
 
**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 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   8/6/08                                                                      



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   8/6/08                                                                      
 
By (Signature and Title)*   /s/ Cheryl L. King             
Cheryl L. King, Treasurer

Date   8/6/08                                                                      

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