-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, S89DdoKhWwaYn0RgPqCK5gjgsuxwlklACvvHbix54EL4ydw9PFdzVRer1pvN9au/ Q+eEhgyfpiDZ0BX9pVsUXg== 0000894189-08-002874.txt : 20080829 0000894189-08-002874.hdr.sgml : 20080829 20080829131215 ACCESSION NUMBER: 0000894189-08-002874 CONFORMED SUBMISSION TYPE: NSAR-A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080630 FILED AS OF DATE: 20080829 DATE AS OF CHANGE: 20080829 EFFECTIVENESS DATE: 20080829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVISORS SERIES TRUST CENTRAL INDEX KEY: 0001027596 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: NSAR-A SEC ACT: 1940 Act SEC FILE NUMBER: 811-07959 FILM NUMBER: 081048236 BUSINESS ADDRESS: STREET 1: U.S BANCORP FUND SERVICES, LLC STREET 2: 615 E MICHIGAN STREET CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 414-765-5340 MAIL ADDRESS: STREET 1: 615 E MICHIGAN STREET STREET 2: MK-WI-LC2 CITY: MILWAUKEE STATE: WI ZIP: 53202 0001027596 S000000024 The Al Frank Dividend Value Fund C000000037 Investor Class VALDX C000033043 Advisor Class VALEX 0001027596 S000005062 Capital Advisors Growth Fund C000013847 Investor Class CIAOX 0001027596 S000005099 Al Frank Fund C000013893 Investor Class VALUX C000033044 Advisor Class VALAX 0001027596 S000013666 Phocas Real Estate Fund C000037424 Phocas Real Estate Fund PHREX 0001027596 S000013667 Phocas Small Cap Value Fund C000037425 Phocas Small Cap Value Fund PHSVX NSAR-A 1 alfcapadvpho_nsara.fil SEMI-ANNUAL REPORT FOR MANAGEMENT COMPANIES PAGE 1 000 A000000 06/30/2008 000 C000000 0001027596 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 ADVISORS SERIES TRUST 001 B000000 811-07959 001 C000000 4147656609 002 A000000 615 E. 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001000 N 051 001000 N 052 001000 N 053 A001000 Y 053 B001000 Y 053 C001000 N 055 A001000 N 055 B001000 N 056 001000 Y 057 001000 N 058 A001000 N 059 001000 Y 060 A001000 Y 060 B001000 Y 061 001000 1000 062 A001000 N 062 B001000 0.0 062 C001000 0.0 062 D001000 0.0 062 E001000 0.0 062 F001000 0.0 062 G001000 0.0 062 H001000 0.0 062 I001000 0.0 062 J001000 0.0 062 K001000 0.0 062 L001000 0.0 062 M001000 0.0 062 N001000 0.0 062 O001000 0.0 062 P001000 0.0 062 Q001000 0.0 062 R001000 0.0 066 A001000 Y 066 B001000 N 066 C001000 Y 066 D001000 N 066 E001000 N 066 F001000 N PAGE 8 066 G001000 N 067 001000 N 068 A001000 N 068 B001000 N 069 001000 N 070 A011000 Y 070 A021000 N 070 B011000 Y 070 B021000 N 070 C011000 Y 070 C021000 N 070 D011000 Y 070 D021000 N 070 E011000 N 070 E021000 N 070 F011000 N 070 F021000 N 070 G011000 N 070 G021000 N 070 H011000 N 070 H021000 N 070 I011000 N 070 I021000 N 070 J011000 Y 070 J021000 Y 070 K011000 Y 070 K021000 Y 070 L011000 Y 070 L021000 Y 070 M011000 N 070 M021000 N 070 N011000 Y 070 N021000 Y 070 O011000 Y 070 O021000 N 070 P011000 Y 070 P021000 N 070 Q011000 N 070 Q021000 N 070 R011000 Y 070 R021000 N 071 A001000 2830 071 B001000 26001 071 C001000 207596 071 D001000 1 072 A001000 6 072 B001000 75 072 C001000 1508 072 D001000 0 072 E001000 222 072 F001000 1051 PAGE 9 072 G001000 117 072 H001000 0 072 I001000 149 072 J001000 12 072 K001000 0 072 L001000 38 072 M001000 7 072 N001000 15 072 O001000 0 072 P001000 0 072 Q001000 37 072 R001000 13 072 S001000 6 072 T001000 254 072 U001000 0 072 V001000 0 072 W001000 19 072 X001000 1718 072 Y001000 161 072 Z001000 248 072AA001000 14424 072BB001000 10982 072CC011000 0 072CC021000 34104 072DD011000 0 072DD021000 0 072EE001000 0 073 A011000 0.0000 073 A021000 0.0000 073 B001000 0.0000 073 C001000 0.0000 074 A001000 7 074 B001000 0 074 C001000 0 074 D001000 0 074 E001000 0 074 F001000 184041 074 G001000 0 074 H001000 0 074 I001000 21891 074 J001000 1333 074 K001000 0 074 L001000 401 074 M001000 34 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G012200 548 028 G022200 0 028 G032200 0 028 G042200 967 028 H002200 0 029 002200 N 030 A002200 0 030 B002200 0.00 030 C002200 0.00 031 A002200 0 031 B002200 0 032 002200 0 033 002200 0 034 002200 N 035 002200 0 036 B002200 0 037 002200 Y 038 002200 0 039 002200 N 040 002200 Y 041 002200 Y 045 002200 Y 046 002200 N 047 002200 Y 048 002200 0.750 048 A012200 0 048 A022200 0.000 048 B012200 0 048 B022200 0.000 048 C012200 0 048 C022200 0.000 048 D012200 0 048 D022200 0.000 048 E012200 0 048 E022200 0.000 048 F012200 0 048 F022200 0.000 048 G012200 0 048 G022200 0.000 048 H012200 0 048 H022200 0.000 048 I012200 0 048 I022200 0.000 048 J012200 0 048 J022200 0.000 048 K012200 0 048 K022200 0.000 049 002200 N 050 002200 N 051 002200 N 052 002200 N PAGE 12 053 A002200 Y 053 B002200 Y 053 C002200 N 055 A002200 N 055 B002200 N 056 002200 Y 057 002200 N 058 A002200 N 059 002200 Y 060 A002200 N 060 B002200 N 061 002200 5000 062 A002200 N 062 B002200 0.0 062 C002200 0.0 062 D002200 0.0 062 E002200 0.0 062 F002200 0.0 062 G002200 0.0 062 H002200 0.0 062 I002200 0.0 062 J002200 0.0 062 K002200 0.0 062 L002200 0.0 062 M002200 0.0 062 N002200 0.0 062 O002200 0.0 062 P002200 0.0 062 Q002200 0.0 062 R002200 0.0 066 A002200 Y 066 B002200 N 066 C002200 N 066 D002200 Y 066 E002200 N 066 F002200 N 066 G002200 N 067 002200 N 068 A002200 N 068 B002200 N 069 002200 N 070 A012200 Y 070 A022200 N 070 B012200 N 070 B022200 N 070 C012200 N 070 C022200 N 070 D012200 N 070 D022200 N 070 E012200 N 070 E022200 N PAGE 13 070 F012200 N 070 F022200 N 070 G012200 N 070 G022200 N 070 H012200 N 070 H022200 N 070 I012200 N 070 I022200 N 070 J012200 Y 070 J022200 N 070 K012200 Y 070 K022200 Y 070 L012200 Y 070 L022200 Y 070 M012200 N 070 M022200 N 070 N012200 N 070 N022200 N 070 O012200 N 070 O022200 N 070 P012200 Y 070 P022200 N 070 Q012200 N 070 Q022200 N 070 R012200 N 070 R022200 N 071 A002200 3741 071 B002200 4937 071 C002200 12505 071 D002200 30 072 A002200 6 072 B002200 23 072 C002200 88 072 D002200 0 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23 042 E003600 11 042 F003600 0 042 G003600 0 042 H003600 1 043 003600 31 044 003600 0 045 003600 Y 046 003600 N 047 003600 Y 048 003600 1.000 048 A013600 0 048 A023600 0.000 048 B013600 0 048 B023600 0.000 048 C013600 0 048 C023600 0.000 048 D013600 0 048 D023600 0.000 048 E013600 0 048 E023600 0.000 048 F013600 0 048 F023600 0.000 048 G013600 0 048 G023600 0.000 048 H013600 0 048 H023600 0.000 048 I013600 0 048 I023600 0.000 048 J013600 0 048 J023600 0.000 048 K013600 0 048 K023600 0.000 049 003600 N 050 003600 N 051 003600 N 052 003600 N 053 A003600 Y 053 B003600 Y 053 C003600 N 055 A003600 N 055 B003600 N 056 003600 Y 057 003600 N PAGE 17 058 A003600 N 059 003600 Y 060 A003600 Y 060 B003600 Y 061 003600 1000 062 A003600 N 062 B003600 0.0 062 C003600 0.0 062 D003600 0.0 062 E003600 0.0 062 F003600 0.0 062 G003600 0.0 062 H003600 0.0 062 I003600 0.0 062 J003600 0.0 062 K003600 0.0 062 L003600 0.0 062 M003600 0.0 062 N003600 0.0 062 O003600 0.0 062 P003600 0.0 062 Q003600 0.0 062 R003600 0.0 066 A003600 Y 066 B003600 N 066 C003600 Y 066 D003600 N 066 E003600 N 066 F003600 N 066 G003600 N 067 003600 N 068 A003600 N 068 B003600 N 069 003600 N 070 A013600 Y 070 A023600 N 070 B013600 Y 070 B023600 N 070 C013600 Y 070 C023600 N 070 D013600 Y 070 D023600 N 070 E013600 N 070 E023600 N 070 F013600 N 070 F023600 N 070 G013600 N 070 G023600 N 070 H013600 N 070 H023600 N 070 I013600 N PAGE 18 070 I023600 N 070 J013600 Y 070 J023600 N 070 K013600 Y 070 K023600 Y 070 L013600 Y 070 L023600 Y 070 M013600 N 070 M023600 N 070 N013600 Y 070 N023600 N 070 O013600 Y 070 O023600 Y 070 P013600 Y 070 P023600 N 070 Q013600 N 070 Q023600 N 070 R013600 Y 070 R023600 N 071 A003600 0 071 B003600 2333 071 C003600 24564 071 D003600 0 072 A003600 6 072 B003600 9 072 C003600 319 072 D003600 0 072 E003600 0 072 F003600 125 072 G003600 30 072 H003600 0 072 I003600 30 072 J003600 2 072 K003600 0 072 L003600 4 072 M003600 3 072 N003600 12 072 O003600 0 072 P003600 0 072 Q003600 23 072 R003600 9 072 S003600 4 072 T003600 31 072 U003600 0 072 V003600 0 072 W003600 6 072 X003600 279 072 Y003600 32 072 Z003600 81 072AA003600 894 072BB003600 1051 PAGE 19 072CC013600 0 072CC023600 1787 072DD013600 0 072DD023600 0 072EE003600 0 073 A013600 0.0000 073 A023600 0.0000 073 B003600 0.0000 073 C003600 0.0000 074 A003600 4 074 B003600 0 074 C003600 0 074 D003600 0 074 E003600 0 074 F003600 22806 074 G003600 0 074 H003600 0 074 I003600 404 074 J003600 132 074 K003600 0 074 L003600 41 074 M003600 16 074 N003600 23403 074 O003600 0 074 P003600 42 074 Q003600 0 074 R013600 0 074 R023600 0 074 R033600 0 074 R043600 135 074 S003600 0 074 T003600 23226 074 U013600 1888 074 U023600 27 074 V013600 12.13 074 V023600 12.12 074 W003600 0.0000 074 X003600 769 074 Y003600 0 075 A003600 0 075 B003600 25070 076 003600 0.00 008 A004901 PHOCAS FINANCIAL CORP. 008 B004901 A 008 C004901 801-64317 008 D014901 ALAMEDA 008 D024901 CA 008 D034901 94501 011 A004901 QUASAR DISTRIBUTORS, LLC 011 B004901 8-52323 011 C014901 MILWAUKEE PAGE 20 011 C024901 WI 011 C034901 53202 024 004900 N 028 A014900 0 028 A024900 0 028 A034900 0 028 A044900 0 028 B014900 90 028 B024900 0 028 B034900 0 028 B044900 0 028 C014900 0 028 C024900 0 028 C034900 0 028 C044900 21 028 D014900 0 028 D024900 0 028 D034900 0 028 D044900 0 028 E014900 90 028 E024900 0 028 E034900 0 028 E044900 1367 028 F014900 27 028 F024900 0 028 F034900 0 028 F044900 0 028 G014900 207 028 G024900 0 028 G034900 0 028 G044900 1388 028 H004900 0 029 004900 N 030 A004900 0 030 B004900 0.00 030 C004900 0.00 034 004900 N 035 004900 0 036 B004900 0 037 004900 Y 038 004900 1 039 004900 N 040 004900 Y 041 004900 Y 042 A004900 0 042 B004900 0 042 C004900 54 042 D004900 46 042 E004900 0 042 F004900 0 042 G004900 0 PAGE 21 042 H004900 0 043 004900 4 044 004900 0 045 004900 Y 046 004900 N 047 004900 Y 048 004900 0.750 048 A014900 0 048 A024900 0.000 048 B014900 0 048 B024900 0.000 048 C014900 0 048 C024900 0.000 048 D014900 0 048 D024900 0.000 048 E014900 0 048 E024900 0.000 048 F014900 0 048 F024900 0.000 048 G014900 0 048 G024900 0.000 048 H014900 0 048 H024900 0.000 048 I014900 0 048 I024900 0.000 048 J014900 0 048 J024900 0.000 048 K014900 0 048 K024900 0.000 049 004900 N 050 004900 N 051 004900 N 052 004900 N 053 A004900 Y 053 B004900 Y 053 C004900 N 055 A004900 Y 055 B004900 N 056 004900 Y 057 004900 N 058 A004900 N 059 004900 Y 060 A004900 N 060 B004900 N 061 004900 5000 062 A004900 N 062 B004900 0.0 062 C004900 0.0 062 D004900 0.0 062 E004900 0.0 062 F004900 0.0 PAGE 22 062 G004900 0.0 062 H004900 0.0 062 I004900 0.0 062 J004900 0.0 062 K004900 0.0 062 L004900 0.0 062 M004900 0.0 062 N004900 0.0 062 O004900 0.0 062 P004900 0.0 062 Q004900 0.0 062 R004900 0.0 066 A004900 Y 066 B004900 N 066 C004900 Y 066 D004900 N 066 E004900 N 066 F004900 N 066 G004900 N 067 004900 N 068 A004900 N 068 B004900 N 069 004900 N 070 A014900 Y 070 A024900 N 070 B014900 Y 070 B024900 N 070 C014900 Y 070 C024900 N 070 D014900 Y 070 D024900 N 070 E014900 Y 070 E024900 N 070 F014900 Y 070 F024900 N 070 G014900 Y 070 G024900 N 070 H014900 Y 070 H024900 N 070 I014900 Y 070 I024900 N 070 J014900 Y 070 J024900 N 070 K014900 Y 070 K024900 Y 070 L014900 Y 070 L024900 N 070 M014900 N 070 M024900 N 070 N014900 N 070 N024900 N PAGE 23 070 O014900 Y 070 O024900 N 070 P014900 Y 070 P024900 N 070 Q014900 N 070 Q024900 N 070 R014900 Y 070 R024900 N 071 A004900 783 071 B004900 2177 071 C004900 3328 071 D004900 24 072 A004900 6 072 B004900 1 072 C004900 66 072 D004900 0 072 E004900 0 072 F004900 13 072 G004900 15 072 H004900 0 072 I004900 10 072 J004900 5 072 K004900 1 072 L004900 3 072 M004900 1 072 N004900 0 072 O004900 0 072 P004900 0 072 Q004900 13 072 R004900 8 072 S004900 4 072 T004900 4 072 U004900 0 072 V004900 0 072 W004900 2 072 X004900 79 072 Y004900 54 072 Z004900 42 072AA004900 21 072BB004900 449 072CC014900 0 072CC024900 324 072DD014900 0 072DD024900 0 072EE004900 0 073 A014900 0.0000 073 A024900 0.0000 073 B004900 0.0000 073 C004900 0.0000 074 A004900 0 074 B004900 0 PAGE 24 074 C004900 0 074 D004900 0 074 E004900 0 074 F004900 2342 074 G004900 0 074 H004900 0 074 I004900 58 074 J004900 0 074 K004900 10 074 L004900 26 074 M004900 4 074 N004900 2440 074 O004900 0 074 P004900 12 074 Q004900 0 074 R014900 0 074 R024900 0 074 R034900 0 074 R044900 12 074 S004900 0 074 T004900 2416 074 U014900 140 074 U024900 0 074 V014900 17.31 074 V024900 0.00 074 W004900 0.0000 074 X004900 1 074 Y004900 0 075 A004900 0 075 B004900 3425 076 004900 0.00 008 A005001 PHOCAS FINANCIAL CORP 008 B005001 A 008 C005001 801-64317 008 D015001 ALAMEDA 008 D025001 CA 008 D035001 94501 011 A005001 QUASAR DISTRIBUTORS, LLC 011 B005001 8-52323 011 C015001 MILWAUKEE 011 C025001 WI 011 C035001 53202 024 005000 N 028 A015000 3442 028 A025000 0 028 A035000 0 028 A045000 2415 028 B015000 324 028 B025000 0 028 B035000 0 028 B045000 0 PAGE 25 028 C015000 371 028 C025000 0 028 C035000 0 028 C045000 54 028 D015000 165 028 D025000 0 028 D035000 0 028 D045000 131 028 E015000 391 028 E025000 0 028 E035000 0 028 E045000 67 028 F015000 176 028 F025000 0 028 F035000 0 028 F045000 47 028 G015000 4869 028 G025000 0 028 G035000 0 028 G045000 2714 028 H005000 0 029 005000 N 030 A005000 0 030 B005000 0.00 030 C005000 0.00 034 005000 N 035 005000 0 036 B005000 0 037 005000 Y 038 005000 0 039 005000 N 040 005000 Y 041 005000 N 042 A005000 0 042 B005000 0 042 C005000 0 042 D005000 0 042 E005000 0 042 F005000 0 042 G005000 0 042 H005000 0 043 005000 0 044 005000 0 045 005000 Y 046 005000 N 047 005000 Y 048 005000 0.750 048 A015000 0 048 A025000 0.000 048 B015000 0 048 B025000 0.000 PAGE 26 048 C015000 0 048 C025000 0.000 048 D015000 0 048 D025000 0.000 048 E015000 0 048 E025000 0.000 048 F015000 0 048 F025000 0.000 048 G015000 0 048 G025000 0.000 048 H015000 0 048 H025000 0.000 048 I015000 0 048 I025000 0.000 048 J015000 0 048 J025000 0.000 048 K015000 0 048 K025000 0.000 049 005000 N 050 005000 N 051 005000 N 052 005000 N 053 A005000 Y 053 B005000 Y 053 C005000 N 055 A005000 Y 055 B005000 N 056 005000 Y 057 005000 N 058 A005000 N 059 005000 Y 060 A005000 Y 060 B005000 Y 061 005000 5000 062 A005000 N 062 B005000 0.0 062 C005000 0.0 062 D005000 0.0 062 E005000 0.0 062 F005000 0.0 062 G005000 0.0 062 H005000 0.0 062 I005000 0.0 062 J005000 0.0 062 K005000 0.0 062 L005000 0.0 062 M005000 0.0 062 N005000 0.0 062 O005000 0.0 062 P005000 0.0 062 Q005000 0.0 PAGE 27 062 R005000 0.0 066 A005000 Y 066 B005000 N 066 C005000 Y 066 D005000 N 066 E005000 N 066 F005000 N 066 G005000 N 067 005000 N 068 A005000 N 068 B005000 N 069 005000 N 070 A015000 Y 070 A025000 N 070 B015000 Y 070 B025000 N 070 C015000 Y 070 C025000 N 070 D015000 Y 070 D025000 N 070 E015000 Y 070 E025000 N 070 F015000 Y 070 F025000 N 070 G015000 Y 070 G025000 N 070 H015000 Y 070 H025000 N 070 I015000 Y 070 I025000 N 070 J015000 Y 070 J025000 N 070 K015000 Y 070 K025000 Y 070 L015000 Y 070 L025000 Y 070 M015000 N 070 M025000 N 070 N015000 N 070 N025000 N 070 O015000 Y 070 O025000 N 070 P015000 Y 070 P025000 N 070 Q015000 N 070 Q025000 N 070 R015000 Y 070 R025000 N 071 A005000 5449 071 B005000 3269 071 C005000 21623 PAGE 28 071 D005000 15 072 A005000 6 072 B005000 11 072 C005000 177 072 D005000 0 072 E005000 0 072 F005000 82 072 G005000 15 072 H005000 0 072 I005000 11 072 J005000 12 072 K005000 2 072 L005000 2 072 M005000 3 072 N005000 4 072 O005000 0 072 P005000 0 072 Q005000 15 072 R005000 8 072 S005000 6 072 T005000 0 072 U005000 0 072 V005000 0 072 W005000 5 072 X005000 165 072 Y005000 56 072 Z005000 79 072AA005000 686 072BB005000 1942 072CC015000 0 072CC025000 996 072DD015000 0 072DD025000 0 072EE005000 0 073 A015000 0.0000 073 A025000 0.0000 073 B005000 0.0000 073 C005000 0.0000 074 A005000 1 074 B005000 0 074 C005000 0 074 D005000 0 074 E005000 0 074 F005000 20945 074 G005000 0 074 H005000 0 074 I005000 1193 074 J005000 13 074 K005000 0 074 L005000 93 074 M005000 16 PAGE 29 074 N005000 22261 074 O005000 0 074 P005000 17 074 Q005000 0 074 R015000 0 074 R025000 0 074 R035000 0 074 R045000 326 074 S005000 0 074 T005000 21918 074 U015000 1215 074 U025000 0 074 V015000 18.04 074 V025000 0.00 074 W005000 0.0000 074 X005000 1 074 Y005000 0 075 A005000 0 075 B005000 22146 076 005000 0.00 SIGNATURE DOUG HESS TITLE PRESIDENT EX-99.77J REVALUATN 2 revaluation.htm REVALUATION revaluation.htm
 
 

EX-99.77J REVALUATN

Exhibit 77(j)(b) – NAV Errors

From January 31, 2008 through February 5, 2008 the NAV for the Capital Advisors Growth Fund was understated by $0.01 due to a spin-off not being properly booked by U.S. Bancorp Fund Services, LLC, fund accounting department.  The error was caught when the transaction settled in the Fund’s custody account.

Since the error was less than 0.5%, there was no need to reprocess transactions per the Trusts’ NAV error policy.  The shareholder transactions that did occur (redemptions) resulted in a benefit to the Fund so no reimbursement was necessary.

There was an NAV error in the Phocas Real Estate Fund on May 20, 2008.  The Advisor redeemed $3.6 million on May 20 and subsequently purchased $2.4 million on May 21.  Securities were not sold to cover the net redemption until May 21, resulting in the adverse affect on the Fund’s NAV due to the downward movement in the market.  The NAV for May 20 was recalculated and the Advisor’s purchase of $2.4 million was reprocessed at the corrected NAV.  There was no other shareholder activity during this period.  In addition, the Advisor paid for all overdraft charges and reimbursed the Fund $16,682.28.

The NAV for the PIC Flexible Growth Fund was overstated by $0.24/share for the period May 20 – 22, 2008.  The error was the result of a deposit of a class action payment made on May 20 and then withdrawn on May 23.  During this period there was one shareholder redemption which was reprocessed and resulted in a loss to the Fund.  U.S. Bancorp Fund Services, the responsible party, reimbursed the Fund.



 
 
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