It sounds like you're doing either SS or SL. I'm doing SS 3 days a week and playing sports 3 days a week, I'm roughly following the Lean Gains eating program. I've been on SS for 10weeks and LeanGains for 5 weeks. I haven't lost any weight (not trying to), I've actually gained some but I am still leaning out slowly [calipered 11% BF]. So it is possible but it will take time, and possible adjustment of your diet (which you haven't listed).
I've been listening to the Paleolithic Solution podcasts and Robb Wolfe has made the point multiple times that if you want to cut fat (past a certain point) you're going to have to sacrifice performance until you get your body composition to where you want it. Personally, I'm not trying to lose fat, I'm just trying to lower my fat percentage by gaining lean mass. It just happens to be that I am losing fat at the same time.