Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  ASP ADS Investco, LLC
 2. Date of Event Requiring Statement (Month/Day/Year)
07/24/2014		 3. Issuer Name and Ticker or Trading Symbol
ADVANCED DRAINAGE SYSTEMS, INC. [WMS]
(Last)
(First)
(Middle)
C/O AMERICAN SECURITIES LLC, 299 PARK AVENUE, 34TH FLOOR		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10171		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 19,561,194
D (1) (2)
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
ASP ADS Investco, LLC
C/O AMERICAN SECURITIES LLC
299 PARK AVENUE, 34TH FLOOR
NEW YORK, NY 10171		     X    
American Securities Partners V, L.P.
C/O AMERICAN SECURITIES LLC
299 PARK AVENUE, 34TH FLOOR
NEW YORK, NY 10171		     X   (See Remarks below)
American Securities Partners V(B), L.P.
C/O AMERICAN SECURITIES LLC
299 PARK AVE, 34TH FLOOR
NEW YORK, NY 10171		     X   (See Remarks below)
American Securities Partners V (C) L.P.
C/O AMERICAN SECURITIES LLC
299 PARK AVE, 34TH FLOOR
NEW YORK, NY 10171		     X   (See Remarks below)
American Securities Associates V, LLC
C/O AMERICAN SECURITIES LLC
299 PARK AVE, 34TH FLOOR
NEW YORK, NY 10171		     X   (See Remarks below)
AMERICAN SECURITIES LLC
299 PARK AVENUE
34TH FLOOR
NEW YORK, NY 10171		     X   (See Remarks below)

Signatures

ASP ADS Investco, LLC By: ASP Manager Corp., its manager By: /s/ Michael G. Fisch, President 07/24/2014
**Signature of Reporting Person Date
American Securities Partners V, L.P. By: American Securities Associates V, LLC, its general partner By: /s/ Michael G. Fisch, as Managing Member 07/24/2014
**Signature of Reporting Person Date
American Securities Partners V(B), L.P. By: American Securities Associates V, LLC, its general partner By: /s/ Michael G. Fisch, as Managing Member 07/24/2014
**Signature of Reporting Person Date
American Securities Partners V(C), L.P. By: American Securities Associates V, LLC, its general partner By: /s/ Michael G. Fisch, as Managing Member 07/24/2014
**Signature of Reporting Person Date
American Securities Associates V, LLC By: /s/ Michael G. Fisch, as Managing Member 07/24/2014
**Signature of Reporting Person Date
American Securities LLC By: /s/ Michael G. Fisch, as President and Chief Executive Officer 07/24/2014
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The shares are directly owned by ASP ADS Investco, LLC ("ASPADS") and may also be deemed to be indirectly beneficially owned by: (i) American Securities Partners V, L.P., American Securities Partners V(B), L.P. and American Securities Partners V(C), L.P. (each, a "Sponsor"), the owners of membership interests in ASPADS; and (ii) American Securities Associates V, LLC ("GP"), the general partner of each Sponsor. American Securities LLC provides investment advisory services to each Sponsor.
(2) Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of such Reporting Person's pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
 
Remarks:
Exhibit 99.1 Joint Filer Information, incorporated herein by reference.

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