elomax_nq.htm

0000894189-08-003026.txt : 20080916 0000894189-08-003026.hdr.sgml : 20080916 20080916170957 ACCESSION NUMBER: 0000894189-08-003026 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080731 FILED AS OF DATE: 20080916 DATE AS OF CHANGE: 20080916 EFFECTIVENESS DATE: 20080916 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: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-07959 FILM NUMBER: 081074672 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 S000005075 Edgar Lomax Value Fund

C000013862 Investor Class LOMAX

N-Q 1 elomax_nq.htm QUARTERLY NOTICE OF PORTFOLIO HOLDINGS elomax_nq.htm

As filed with the Securities and Exchange Commission on September 16, 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: October 31, 2008

Date of reporting period: July 31, 2008

Item 1. Schedules of Investments.

Edgar Lomax Value Fund
Schedule of Investments at July 31, 2008 (Unaudited)


Shares	COMMON STOCKS - 96.44%		Value
	Automobiles & Components - 0.77%
14,500	General Motors Corp.	$	160,515
	Banks - 4.09%
23,900	Regions Financial Corp.		226,572
3,100	Wachovia Corp.		53,537
18,800	Wells Fargo & Co.		569,076
			849,185
	Capital Goods - 11.89%
11,300	3M Co.		795,407
6,900	Caterpillar, Inc.		479,688
22,100	General Electric Co.		625,209
6,000	Raytheon Co.		341,580
5,100	Rockwell Automation, Inc.		227,001
			2,468,885
	Diversified Financials - 13.46%
8,600	American Express Co.		319,232
13,700	Bank of America Corp.		450,730
16,400	Bank of New York Mellon Corp.		582,200
30,700	Citigroup, Inc.		573,783
400	The Goldman Sachs Group, Inc.		73,616
14,765	J.P. Morgan Chase & Co.		599,902
4,200	Merrill Lynch & Co., Inc.		111,930
2,100	Morgan Stanley		82,908
			2,794,301
	Energy - 11.96%
8,500	Chevron Corp.		718,760
7,600	ConocoPhillips		620,312
20,300	El Paso Corp.		363,979
6,800	Exxon Mobil Corp.		546,924
5,200	Halliburton Co.		233,064
			2,483,039
	Food & Staples Retailing - 3.81%
13,500	Wal-Mart Stores, Inc.		791,370
	Food, Beverages & Tobacco - 7.66%
13,650	Altria Group, Inc.		277,778
2,200	Anheuser-Busch Companies, Inc.		149,072
3,300	Campbell Soup Co.		120,054
2,500	HJ Heinz Co.		125,950
3,583	Kraft Foods, Inc. - Class A		114,011
13,650	Philip Morris International, Inc.		705,022
7,300	Sara Lee Corp.		99,718
			1,591,605
	Healthcare Equipment & Services - 1.28%
7,200	Cigna Corp.		266,544
	Insurance - 5.09%
11,500	The Allstate Corp.		531,530
7,800	American International Group, Inc.		203,190
5,100	The Hartford Financial Services Group, Inc.		323,289
			1,058,009
	Materials - 12.05%
17,600	Alcoa, Inc.		594,000
17,300	The Dow Chemical Co.		576,263
24,838	E. I. du Pont de Nemours and Co.		1,088,153
3,600	International Paper Co.		99,792
2,700	Weyerhaeuser Co.		144,342
			2,502,550
	Media - 0.34%
4,300	CBS Corp. - Class B		70,348
	Pharmaceuticals, Biotechnology & Life Sciences - 5.69%
4,400	Bristol-Myers Squibb Co.		92,928
1,800	Johnson & Johnson		123,246
2,000	Merck & Co., Inc.		65,800
48,200	Pfizer, Inc.		899,894
			1,181,868
	Retailing - 5.51%
43,800	The Home Depot, Inc.		1,043,754
2,200	Target Corp.		99,506
			1,143,260
	Technology Hardware & Equipment - 1.97%
3,200	International Business Machines Corp.		409,536
	Telecommunication Services - 3.63%
11,900	AT&T, Inc.		366,639
213	FairPoint Communications, Inc.		1,478
11,300	Verizon Communications, Inc.		384,652
			752,769
	Transportation - 5.74%
4,200	Burlington Northern Santa Fe Corp.		437,346
10,500	Norfolk Southern Corp.		755,160
			1,192,506
	Utilities - 1.50%
2,500	American Electric Power Co., Inc.		98,750
1,000	Entergy Corp.		106,920
3,000	Southern Co.		106,170
			311,840

	TOTAL COMMON STOCKS (Cost $23,609,333)		20,028,130


Shares	SHORT-TERM INVESTMENTS - 3.46%		Value
718,212	AIM STIT-STIC Prime Portfolio		718,212
	TOTAL SHORT-TERM INVESTMENTS (Cost $718,212)		718,212

	Total Investments in Securtites (Cost $24,327,545) - 99.90%		20,746,342
	Other Assets in Excess of Liabilities - 0.10%		20,167
	NET ASSETS - 100.00%	$	20,766,509

The cost basis of investments for federal income tax purposes at July 31, 2008 was as follows*:

Cost of investments	$	24,397,100

Gross unrealized appreciation	$	1,503,301
Gross unrealized depreciation		(5,154,059	)
Net unrealized depreciation	$	(3,650,758	)

* 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 9/9/2008

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 9/9/2008

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

Cheryl L. King, Treasurer

Date 9/9/2008

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

EX-99.CERT 2 certs.htm OFFICER CERTIFICATIONS Unassociated Document

CERTIFICATION

I, Douglas G. Hess, certify that:

1.	I have reviewed this report on Form N-Q of Advisors Series Trust;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation;

(d)

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.	The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: 9/9/2008	/s/ Douglas G. Hess
	Douglas G. Hess, President

CERTIFICATION

I, Cheryl L. King, certify that:

1.	I have reviewed this report on Form N-Q of Advisors Series Trust;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

(a)

(b)

(c)	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation;

(d)

5.	The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: 9/9/2008	/s/ Cheryl L. King
	Cheryl L. King, Treasurer