As filed with the Securities and Exchange Commission on September 14, 2017

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 Street

Milwaukee, Wisconsin 53202
(Address of principal executive offices) (Zip code)

Douglas G. Hess, President

Advisors Series Trust

c/o U.S. Bancorp Fund Services, LLC

777 East Wisconsin Avenue, 5^th Floor

Milwaukee, Wisconsin 53202
(Name and address of agent for service)

Registrant's telephone number, including area code: (414) 765-6609

Date of fiscal year end: April 30, 2018

Date of reporting period: July 31, 2017

Item 1. Schedules of Investments.

Logan Capital Large Cap Growth Fund
Schedule of Investments
July 31, 2017 (Unaudited)
	Number of
	Shares		Value
COMMON STOCKS - 99.3%
Consumer Discretionary - 23.4%
Amazon.com, Inc. (a)		1,236	$	1,220,896
Dick's Sporting Goods, Inc.		12,320		460,029
Foot Locker, Inc.		8,123		383,325
Hanesbrands, Inc.		21,686		497,043
Netflix, Inc. (a)		7,371		1,339,016
Nike, Inc.		5,861		346,092
Starbucks Corp.		10,551		569,543
The Home Depot, Inc.		4,072		609,171
Williams-Sonoma, Inc.		10,163		471,868
				5,896,983
Consumer Staples - 9.2%
Constellation Brands, Inc.		3,143		607,699
Estee Lauder Companies, Inc.		5,875		581,566
Monster Beverage Corp. (a)		13,944		735,546
Spectrum Brands Holdings, Inc.		3,407		393,304
				2,318,115
Health Care - 14.5%
Agilent Technologies, Inc.		5,149		307,859
Align Technology, Inc. (a)		4,788		800,697
AmerisourceBergen Corp.		5,537		519,481
Celgene Corp. (a)		4,112		556,806
Mettler-Toledo International, Inc. (a)		1,094		626,950
Waters Corp. (a)		2,910		504,710
Zoetis, Inc.		5,368		335,607
				3,652,110
Industrials - 9.0%
Acuity Brands, Inc.		1,995		404,287
Cintas Corp.		2,667		359,645
Nordson Corp.		3,062		388,874
The Middleby Corp. (a)		2,455		320,819
United Rentals, Inc. (a)		2,482		295,259
Verisk Analytics, Inc. (a)		5,655		493,455
				2,262,339
Information Technology - 41.7%
Alliance Data Systems Corp.		1,297		313,135
Alphabet, Inc. - Class A (a)		395		373,473
Alphabet, Inc. - Class C (a)		395		367,548
Amphenol Corp.		12,212		935,683
Apple, Inc.		8,529		1,268,518
Broadcom Ltd. (c)		4,902		1,209,127
Cognizant Technology Solutions - Class A		7,587		525,931
Electronic Arts, Inc. (a)		6,520		761,145
Facebook, Inc. (a)		5,557		940,522
Fiserv, Inc. (a)		3,917		503,335
FleetCor Technologies, Inc. (a)		2,870		436,412
Global Payments, Inc.		10,676		1,007,494
IPG Photonics Corp. (a)		2,559		390,606
MasterCard, Inc.		7,323		935,879
NCR Corp. (a)		8,407		318,205
Trimble, Inc. (a)		6,459		241,760
				10,528,773
Materials - 1.5%
Sherwin-Williams Co.		1,121		378,080
TOTAL COMMON STOCKS (Cost $14,311,982)				25,036,400

SHORT-TERM INVESTMENTS - 1.5%
MONEY MARKET FUNDS - 1.5%
Fidelity Government Portfolio - Class I, 0.87% (b)		372,367		372,367
TOTAL SHORT-TERM INVESTMENTS (Cost $372,367)				372,367
TOTAL INVESTMENTS (Cost $14,684,349) - 100.8%				25,408,767
Liabilities in Excess of Other Assets - (0.8)%				(206,194	)
TOTAL NET ASSETS - 100.00%			$	25,202,573

	Percentages are stated as a percent of net assets.

(a)	Non-income producing security.
(b)	The rate shown represents the fund's 7-day yield as of July 31, 2017.
(c)	U.S. traded security of a foreign issuer or corporation.

	The Global Industry Classification Standard (GICS®) was developed by and/or is the
	exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P").
	GICS is a service mark of MSCI and S&P and has been licensed for use by Logan Capital
	Management, Inc.

Logan Capital Long/Short Fund
Schedule of Investments
July 31, 2017 (Unaudited)
	Number of
	Shares		Value
COMMON STOCKS - 102.3%
Consumer Discretionary - 9.6%
General Motors Co. (d)		12,400	$	446,152
Starbucks Corp. (d)		2,523		136,192
The Home Depot, Inc. (d)		1,449		216,770
Ulta Beauty, Inc. (a)(d)		834		209,509
				1,008,623
Consumer Staples - 9.3%
Constellation Brands, Inc. (d)		758		146,559
Philip Morris International, Inc. (d)		3,490		407,318
The Coca-Cola Co. (d)		9,280		425,395
				979,272
Energy - 8.4%
Chevron Corp. (d)		4,017		438,616
Royal Dutch Shell PLC - ADR (c)(d)		7,807		451,713
				890,329
Financials - 5.5%
Marsh & McLennan Companies, Inc. (d)		2,035		158,669
Primerica, Inc. (d)		1,442		116,874
S&P Global, Inc. (d)		890		136,695
SEI Investments Co. (d)		3,049		172,299
				584,537
Health Care - 10.5%
AbbVie, Inc. (d)		3,069		214,554
Align Technology, Inc. (a)(d)		1,286		215,058
Masimo Corp. (a)(d)		1,616		152,874
Pfizer, Inc. (d)		6,589		218,491
UnitedHealth Group, Inc.		750		143,857
Zoetis, Inc. (d)		2,701		168,867
				1,113,701
Industrials - 19.8%
Acuity Brands, Inc. (d)		600		121,590
CSX Corp. (d)		3,888		191,834
Cummins, Inc. (d)		946		158,834
Dycom Industries, Inc. (a)(d)		1,539		139,433
General Electric Co. (d)		15,335		392,729
Lennox International, Inc.		790		135,090
The Boeing Co. (d)		2,151		521,532
The Middleby Corp. (a)(d)		1,068		139,566
Verisk Analytics, Inc. (a)(d)		1,925		167,976
Wabtec Corp. (d)		1,587		119,596
				2,088,180
Information Technology - 29.3%
Alliance Data Systems Corp. (d)		415		100,193
Alphabet, Inc. - Class A (a)(d)		110		104,005
Alphabet, Inc. - Class C (a)(d)		102		94,911
Apple, Inc. (d)		1,983		294,932
Applied Optoelectronics, Inc. (a)		1,225		119,425
Broadcom Ltd. (c)(d)		1,053		259,733
Broadridge Financial Solutions, Inc. (d)		1,975		149,824
Cisco Systems, Inc. (d)		6,727		211,564
Cognizant Technology Solutions - Class A (d)		2,405		166,715
Electronic Arts, Inc. (a)(d)		1,237		144,407
Facebook, Inc. (a)(d)		1,954		330,715
Fiserv, Inc. (a)(d)		1,716		220,506
Global Payments, Inc. (d)		1,544		145,707
International Business Machines Co. (d)		1,391		201,236
Littelfuse, Inc.		868		156,396
MasterCard, Inc. (d)		1,919		245,248
ON Semiconductor Corp. (a)(d)		9,960		148,902
				3,094,419

Materials - 3.8%
Ecolab, Inc. (d)	1,464		192,765
Sherwin-Williams Co. (d)	606		204,386
			397,151
Real Estate - 2.0%
CBRE Group, Inc. (a)(d)	5,469		207,767

Telecommunication Services - 4.1%
AT&T, Inc. (d)	10,978		428,142
TOTAL COMMON STOCKS (Cost $7,843,697)			10,792,121

SHORT-TERM INVESTMENTS - 10.9%
MONEY MARKET FUNDS - 10.9%
Fidelity Government Portfolio - Class I, 0.87% (b)	1,152,780		1,152,780
TOTAL SHORT-TERM INVESTMENTS (Cost $1,152,780)			1,152,780
TOTAL INVESTMENTS (Cost $8,996,477) - 113.2%			11,944,901
Liabilities in Excess of Other Assets - (13.2)%			(1,395,652	)
TOTAL NET ASSETS - 100.00%		$	10,549,249

	Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt
(a)	Non-income producing security.
(b)	The rate shown represents the fund's 7-day yield as of July 31, 2017
(c)	U.S. traded security of a foreign issuer or corporation.
(d)	All or a portion of the security has been segregated for open short positions.

	The Global Industry Classification Standard (GICS®) was developed by and/or is the
	exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P").
	GICS is a service mark of MSCI and S&P and has been licensed for use by Logan Capital
	Management, Inc.

Logan Capital Long/Short Fund
Schedule of Securities Sold Short
July 31, 2017 (Unaudited)
	Number of
	Shares		Value
COMMON STOCKS - 12.2%
Consumer Discretionary - 3.3%
Bob Evans Farms, Inc.		1,700	$	117,606
O'Reilly Automotive, Inc.		500		102,150
Signet Jewelers Ltd. (a)		2,200		134,552
				354,308
Health Care - 2.1%
Abaxis, Inc.		1,700		79,900
Patterson Companies, Inc.		3,000		125,160
The Ensign Group, Inc.		600		13,422
				218,482
Industrials - 1.4%
Cubic Corp.		3,200		152,480

Information Technology - 4.4%
CommScope Holding Co., Inc.		2,500		91,950
Electronics For Imaging, Inc.		2,200		106,876
Finisar Corp.		3,840		104,525
Monotype Imaging Holdings, Inc.		5,500		103,675
Plantronics, Inc.		1,200		54,216
				461,242
Materials - 1.0%
GCP Applied Technologies, Inc.		3,500		106,050
TOTAL COMMON STOCKS (Proceeds $1,297,761)				1,292,562

EXCHANGE-TRADED FUNDS - 5.4%
SPDR S&P500 ETF Trust		2,300		567,571
TOTAL EXCHANGE-TRADED FUNDS (Proceeds $555,599)				567,571
TOTAL SECURITIES SOLD SHORT (Proceeds $1,853,360) - 17.6%			$	1,860,133

	Percentages are stated as a percent of net assets.

(a)	U.S. traded security of a foreign issuer or corporation.

	The Global Industry Classification Standard (GICS®) was developed by and/or is the
	exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P").
	GICS is a service mark of MSCI and S&P and has been licensed for use by Logan Capital
	Management, Inc.

Federal Income Tax Information
The cost basis of investments for federal income tax purposes at July 31, 2017 was as follows:

	Logan Capital			Logan Capital
	Large Cap Growth*			Long/Short*

Cost of investments	$	14,684,349		$	8,996,477
Gross unrealized appreciation		11,175,764			3,021,104
Gross unrealized depreciation		(451,346	)		(72,680	)
Net unrealized appreciation	$	10,724,418		$	2,948,424

*Because tax adjustments are calculated annually at the end of the Fund's fiscal year, the above table does not reflect tax adjustments
for the current fiscal year. 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.

Summary of Fair Value Measurements at July 31, 2017 (Unaudited)

The Funds have adopted authoritative fair valuation accounting standards which establish an authoritative definition of fair value and set out
a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to
develop the measurements of fair value, a discussion in changes in valuation techniques and related inputs during the period and expanded
disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below:

Level 1 -	Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have the ability to access.
Level 2 -	Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or
	indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar
	instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
Level 3 -	Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the
	Funds' own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be
	based on the best information available.

Following is a description of the valuation techniques applied to the Funds' major categories of assets and liabilities measured at fair value

on a recurring basis.

Equity Securities - Equity securities, including common stocks, preferred stocks, foreign issued common stocks, exchange-traded funds,

closed-end mutual funds and real estate investment trusts (REITs), that are primarily traded on a national securities exchange shall be valued

at the last sale price on the exchange on which they are primarily traded on the day of valuation or, if there has been no sale on such day,

at the mean between the bid and asked prices. Securities primarily traded in the NASDAQ Global Market System for which market quotations

are readily available shall be valued using the NASDAQ Official Closing Price (“NOCP”). If the NOCP is not available, such securities shall

be valued at the last sale price on the day of valuation, or if there has been no sale on such day, at the mean between the bid and asked prices.

Over-the-counter securities which are not traded in the NASDAQ Global Market System shall be valued at the most recent sales price. To the

extent these securities are actively traded and valuation adjustments are not applied, they are categorized in level 1 of the fair value hierarchy.

Short-Term Debt Securities - Short-term debt securities, including those securities having a maturity of 60 days or less, are valued at the

evaluated mean between the bid and asked prices. To the extent the inputs are observable and timely, these securities would be classified in level 2

of the fair value hierarchy.

Investment Companies – Investments in open-end mutual funds, including money market funds, are generally priced at their net asset value

per share provided by the service agent of the Funds and will be classified in level 1 of the fair value hierarchy.

Exchange-Traded Notes – Investments in exchange-traded notes are actively traded on a national securities exchange and are valued based

on the last sales price from the exchange and are categorized in level 1 of the fair value hierarchy.

Derivative Instruments – Listed derivatives, including options, rights, warrants and futures that are actively traded are valued based on quoted

prices from the exchange and are categorized in level 1 of the fair value hierarchy.

The Board of Trustees (“Board”) has delegated day-to-day valuation issues to a Valuation Committee of Advisors Series Trust which is
comprised of representatives from U.S. Bancorp Fund Services, LLC, the Funds’ administrator. The function of the Valuation Committee is to value securities

where current and reliable market quotations are not readily available or the closing price does not represent fair value by following procedures

approved by the Board. These procedures consider many factors, including the type of security, size of holding, trading volume, and news events.

All actions taken by the Valuation Committee are subsequently reviewed and ratified by the Board.

Depending on the relative significance of the valuation inputs, fair valued securities may be classified in either level 2 or level 3

of the fair value hierarchy.

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The
following is a summary of the fair valuation hierarchy of the Large Cap Growth Fund's securities as of July 31, 2017:

Logan Capital Large Cap Growth Fund
	Level 1		Level 2		Level 3		Total
Common Stocks
Consumer Discretionary	$	5,896,983	$	-	$	-	$	5,896,983
Consumer Staples		2,318,115		-		-		2,318,115
Health Care		3,652,110		-		-		3,652,110
Industrials		2,262,339		-		-		2,262,339
Information Technology		10,528,773		-		-		10,528,773
Materials		378,080		-		-		378,080
Total Common Stocks		25,036,400		-		-		25,036,400
Short-Term Investments		372,367		-		-		372,367
Total Investments in Securities	$	25,408,767	$	-	$	-	$	25,408,767

The following is a summary of the fair valuation hierarchy of the Long/Short Fund's securities as of July 31, 2017:

Logan Capital Long/Short Fund
	Level 1		Level 2		Level 3		Total
Common Stocks
Consumer Discretionary	$	1,008,623	$	-	$	-	$	1,008,623
Consumer Staples		979,272		-		-		979,272
Energy		890,329		-		-		890,329
Financials		584,537		-		-		584,537
Health Care		1,113,701		-		-		1,113,701
Industrials		2,088,180		-		-		2,088,180
Information Technology		3,094,419		-		-		3,094,419
Materials		397,151		-		-		397,151
Real Estate		207,767		-		-		207,767
Telecommunication Services		428,142		-		-		428,142
Total Common Stocks		10,792,121		-		-		10,792,121
Short-Term Investments		1,152,780		-		-		1,152,780
Total Investments in Securities	$	11,944,901	$	-	$	-	$	11,944,901
Total Securities Sold Short	$	1,860,133	$	-	$	-	$	1,860,133

Refer to the Funds' Schedules of Investments for a detailed breakout of securities by industry classification. Transfers between levels are
recognized at July 31, 2017, the end of the reporting period. The Funds recognized no transfers to/from level 1 or level 2. There were
no level 3 securities held in the Funds during the period ended July 31, 2017.

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, as amended, (the “1940 Act”)) (17 CFR 270.30a-3(c)) 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 (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d‑15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(d)).

(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) (17 CFR 270.30a-3(d)) that occurred during the Registrant's last fiscal quarter that has materially affected, or are 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 1940 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, as amended, 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 9/14/2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, as amended, 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 9/14/2017

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

Cheryl L. King, Treasurer

Date 9/14/2017

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