OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC

Registered adviser

CIK

1005607

Location

SAN FRANCISCO, CA

Portfolio Value

Mid $1,800,102,905

Diversification

Diversified

Filing Date

Global Rank

#1,718 / 8,818 ▼ 221

Top Industry

Software - Infrastructure 9.5%

Period ended 4 months ago

Filed Aug 4, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 108100

Roster of Oct 1, 2026

Regulatory AUM

$2,651,267,552

Main clients

Individuals and high net worth (87% of AUM)

Private funds

1 fund · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$4,020,777 gross assets

Private funds on Schedule D 7.B.(1)

As filed Mar 27, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$10,981,701 gross assets in 1 fund Hedge funds $10,981,701 (1)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$2,651,267,552	Individuals and high net worth (87%)
Apr 2025 to Mar 2026	$2,358,840,039	Individuals and high net worth (88%)
Apr 2024 to Mar 2025	$2,169,812,155	Individuals and high net worth (87%)
May 2023 to Mar 2024	$1,998,288,296	Individuals and high net worth (88%)
Apr 2023	$1,998,288,296	Individuals and high net worth (88%)
Apr 2022 to Mar 2023	$2,243,253,776	Individuals and high net worth (88%)

3 earlier changes not shown.

Stated strategy

Quantitative / systematic, Fundamental active, Multi-asset, Income, Fixed income / rates, Long/short hedge, Private markets, Wealth management / planning Form ADV Part 2A, May 1, 2026 · original

In the firm's words

Quantitative / systematic: The investment team quantitatively screens a large universe of companies for fundamental and balance sheet quality, industry leadership, and valuation.
Fundamental active: The universe is further screened through deep fundamental analysis.
Multi-asset: OPCM believes that an actively managed, diversified portfolio of multiple asset classes, results in long-term, risk-adjusted performance over time.
Income: The fixed income asset class is the income generation and risk reduction component of the portfolio.
Fixed income / rates: The OPCM investment team uses an active yield curve approach to capture what they believe are the best combination of yield, maturity, and duration typically using high quality individual bonds.
Long/short hedge: The OPCM Fund uses the same discipline in a long/short structure.
Private markets: provide exposure to sub-asset classes such as private equity or distressed assets.
Wealth management / planning: Our Wealth Counselors and our investment team create a customized IPG suited to your individual variables.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 46.5%, 25.4 effective positions, active share 65.7% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

11.7% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 20.5 quarters (12+), a floor since 35.0% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 65.7%; sector active share 36.7% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

203 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

14.9%

+2.1 pts

Top 5

33.4%

+2.9 pts

Top 10

46.5%

+3.3 pts

HHI

393

Diversified+61

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	47.6%	$857,122,389	75
Technology	16.5%	$296,924,507	26
Consumer Cyclical	9.8%	$176,218,320	20
Communication Services	6.6%	$119,168,577	7
Healthcare	5.1%	$92,166,840	15
Financial Services	4.9%	$88,695,161	18
Industrials	4.4%	$79,461,047	19
Energy	2.1%	$37,539,453	6
Real Estate	1.1%	$19,137,891	3
Basic Materials	1.0%	$18,500,337	7
Consumer Defensive	0.8%	$13,921,029	5
Utilities	0.1%	$1,247,354	2

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
BKLN	Invesco Ltd.	+139,685	149,975	$3,054,990
VUG	VANGUARD GROWTH INDEX FUND	+88,785	106,582	$9,180,973
BKNG	Booking Holdings Inc.	+52,996	55,044	$9,811,042
IWF	iShares Russell 1000 Growth ETF	+42,630	56,840	$7,057,822
USDU	WisdomTree Bloomberg U.S. Dollar Bullish Fund	+26,171	556,910	$14,897,342
RWX	State Street(R) SPDR(R) Dow Jones(R) International Real Estate ETF	+22,261	1,176,078	$31,765,866
MNA	NYLIM Merger Arbitrage ETF	+17,348	571,652	$20,853,864
PLNT	Planet Fitness, Inc.	+9,800	161,997	$8,451,383
DAX	Global X DAX Germany ETF	+9,192	627,800	$27,728,670
NKE	NIKE, Inc.	+7,352	176,069	$7,227,632
AAAU	Goldman Sachs Physical Gold ETF	+5,648	177,988	$7,042,985
BSX	Boston Scientific Corp	+4,087	86,598	$3,696,002
VGK	VANGUARD EUROPEAN STOCK INDEX FUND	+4,039	493,178	$43,665,980
TLT	iShares 20+ Year Treasury Bond ETF	+3,704	225,391	$19,478,290
VO	VANGUARD MID-CAP INDEX FUND	+3,535	5,272	$424,765
GXC	State Street(R) SPDR(R) S&P(R) China ETF	+2,824	198,188	$17,147,225
RYAAY	Ryanair Holdings PLC	+2,472	203,810	$13,196,697
EWJ	iShares MSCI Japan ETF	+2,340	530,341	$49,464,905
IWM	iShares Russell 2000 ETF	+1,966	7,834	$2,353,725
LOW	Lowes Companies Inc	+1,685	41,469	$9,143,499
FIS	Fidelity National Information Services, Inc.	+1,612	110,384	$4,291,729
INTC	Intel Corp	+1,410	6,423	$896,843
CBRE	Cbre Group, Inc.	+1,404	60,288	$8,120,190
PEP	Pepsico Inc	+1,363	63,411	$8,585,849
GSEW	Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	+1,196	31,061	$2,932,779
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
SGOV	iShares 0-3 Month Treasury Bond ETF	−242,762	191,811	$19,309,613
ICSH	iShares Ultra Short Duration Bond Active ETF	−173,280	431,446	$21,822,538
MGM	MGM Resorts International	−154,955	189,102	$9,040,966
BWA	Borgwarner Inc	−147,284	201,332	$13,368,444
WMT	Walmart Inc.	−120,660	2,429	$275,108
XOM	ExxonMobil Holdings Corp	−88,111	13,113	$1,792,809
PANW	Palo Alto Networks Inc	−83,750	56,975	$19,429,614
PFE	Pfizer Inc	−79,700	28,881	$695,454
AMD	Advanced Micro Devices Inc	−55,596	51,791	$30,085,909
PG	PROCTER & GAMBLE Co	−55,300	15,520	$2,275,852
SLB	Slb Limited	−48,110	194,359	$9,035,749
SRLN	State Street(R) Blackstone Senior Loan ETF	−44,152	723,630	$29,155,052
AAPL	Apple Inc.	−43,755	239,363	$69,262,077
INCO	Columbia ETF Trust II	−32,511	230,518	$13,750,398
ADP	Automatic Data Processing Inc	−31,250	12,307	$2,756,152
TCOM	Trip.com Group Ltd	−30,576	149,123	$5,941,060
BRK-B	Berkshire Hathaway Inc	−30,136	4,484	$2,243,748
VCSH	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND	−29,785	127,791	$10,099,322
XYZ	Block, Inc.	−24,914	214,915	$16,333,540
DHR	Danaher Corp	−23,758	75,311	$14,345,239
KEYS	Keysight Technologies, Inc.	−22,674	2,155	$754,400
VNQ	VANGUARD REAL ESTATE INDEX FUND	−21,138	464,333	$44,775,631
AMZN	Amazon Com Inc	−19,354	159,640	$38,048,597
JPM	Jpmorgan Chase & Co	−17,192	93,527	$30,614,192
MRSH	Marsh & Mclennan Companies, Inc.	−17,176	63,706	$10,617,879
No positions match the current search.

New Positions

Positions the filer opened this quarter

17 positions

Ticker	Company	Shares	Value
CCL	Carnival Corp Ltd.	546,785	$15,621,647
MGRC	Mcgrath Rentcorp	36,210	$4,382,496
DGX	Quest Diagnostics Inc	18,635	$3,949,688
IR	Ingersoll Rand Inc.	40,516	$3,321,906
VGLT	VANGUARD LONG-TERM TREASURY INDEX FUND	11,510	$635,121
AVEM	Avantis Emerging Markets Equity ETF	5,498	$530,502
SDY	State Street(R) SPDR(R) S&P(R) Dividend ETF	1,725	$262,510
MTUM	iShares MSCI USA Momentum Factor ETF	755	$258,836
STLD	Steel Dynamics Inc	1,080	$247,816
QCOM	Qualcomm Inc	1,311	$242,259
NTRS	Northern Trust Corp	1,300	$225,992
CB	Chubb Ltd	653	$222,503
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	1,159	$220,812
ESGD	iShares ESG Aware MSCI EAFE ETF	2,100	$215,901
CARR	CARRIER GLOBAL Corp	2,781	$203,986
MMM	3M Co	1,250	$202,387
CNC	Centene Corp	3,151	$202,262
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
CUK	CARNIVAL PLC	549,495	$14,160,497
PM	Philip Morris International Inc.	40,000	$6,613,600
NUE	Nucor Corp	28,200	$4,768,620
—		68,860	$4,471,800
MDLZ	Mondelez International, Inc.	44,989	$2,593,165
ABBV	AbbVie Inc.	11,479	$2,496,567
SHEL	Shell plc	4,615	$429,195
LMT	Lockheed Martin Corp	375	$226,646
AMT	American Tower Corp	1,300	$224,354
FDX	Fedex Corp	607	$216,201
VZ	Verizon Communications Inc	4,290	$215,358
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

203 tracked positions · $1,800,102,905 total · filing declares 203 positions · $1,800,102,383 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 203 positions by value · page 1 of 5

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
VEU	Vanguard International Equity Index Funds	Reduced	1,836,963	-4,600	$153,845,651	+11.2%	22	$59.99	8.55%
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	Reduced	1,186,805	-5,911	$70,840,390	+9.9%	22	$50.21	3.94%
AAPL	Apple Inc. Technology	Reduced	239,363	-43,755	$69,262,077	−3.6%	26+	before history	3.85%
MSFT	Microsoft Corp Technology	Reduced	141,053	-14,871	$52,615,590	−8.8%	26+	before history	2.92%
EWJ	iShares MSCI Japan ETF	Added	530,341	+2,340	$49,464,905	+10.9%	22	$67.99	2.75%
VNQ	VANGUARD REAL ESTATE INDEX FUND	Reduced	464,333	-21,138	$44,775,631	+4.0%	22	$88.93	2.49%
VGK	VANGUARD EUROPEAN STOCK INDEX FUND	Added	493,178	+4,039	$43,665,980	+8.3%	22	$63.45	2.43%
GOOG	Alphabet Inc. Communication Services	Reduced	116,116	-3,543	$41,027,266	+19.5%	26+	before history	2.28%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	159,640	-19,354	$38,048,597	+2.1%	26+	before history	2.11%
NVDA	Nvidia Corp Technology	Reduced	178,271	-8,495	$35,670,244	+9.5%	14	$58.83	1.98%
RWX	State Street(R) SPDR(R) Dow Jones(R) International Real Estate ETF	Added	1,176,078	+22,261	$31,765,866	+3.4%	16	unpriced	1.76%
DJP		Reduced	710,414	-5,391	$31,052,195	−9.9%	22	$24.89	1.73%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	93,527	-17,192	$30,614,192	−6.0%	26+	before history	1.70%
AMD	Advanced Micro Devices Inc Technology	Reduced	51,791	-55,596	$30,085,909	+37.7%	15	$98.59	1.67%
GOOGL	Alphabet Inc. Communication Services	Reduced	82,223	-11,960	$29,384,033	+8.5%	26+	before history	1.63%
SRLN	State Street(R) Blackstone Senior Loan ETF	Reduced	723,630	-44,152	$29,155,052	−5.4%	22	$44.08	1.62%
DAX	Global X DAX Germany ETF	Added	627,800	+9,192	$27,728,670	+6.3%	16	unpriced	1.54%
EWN	iShares MSCI Netherlands ETF	Reduced	392,552	-973	$27,612,107	+22.0%	22	$44.49	1.53%
XBI	State Street(R) SPDR(R) S&P(R) Biotech ETF	Reduced	169,027	-1,812	$26,748,522	+22.6%	18	unpriced	1.49%
ILF	iShares Latin America 40 ETF	Reduced	647,988	-2,942	$21,869,595	−5.4%	22	unpriced	1.21%
ICSH	iShares Ultra Short Duration Bond Active ETF	Reduced	431,446	-173,280	$21,822,538	−28.7%	22	$50.30	1.21%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	41,743	-2,223	$20,928,270	−3.2%	26+	before history	1.16%
MNA	NYLIM Merger Arbitrage ETF	Added	571,652	+17,348	$20,853,864	+3.5%	22	$33.19	1.16%
TLT	iShares 20+ Year Treasury Bond ETF	Added	225,391	+3,704	$19,478,290	+1.4%	11	unpriced	1.08%
PANW	Palo Alto Networks Inc Technology	Reduced	56,975	-83,750	$19,429,614	−13.9%	26+	before history	1.08%
SGOV	iShares 0-3 Month Treasury Bond ETF	Reduced	191,811	-242,762	$19,309,613	−55.9%	5	unpriced	1.07%
SPY	Spdr S&P 500 ETF Trust	Reduced	25,414	-344	$18,978,412	+13.3%	26+	before history	1.05%
ICVT	iShares Convertible Bond ETF	Added	150,291	+619	$18,296,426	+20.1%	22	unpriced	1.02%
GXC	State Street(R) SPDR(R) S&P(R) China ETF	Added	198,188	+2,824	$17,147,225	−5.7%	22	unpriced	0.95%
META	Meta Platforms, Inc. Communication Services	Added	29,299	+586	$16,503,833	+0.5%	26+	before history	0.92%
XYZ	Block, Inc. Technology	Reduced	214,915	-24,914	$16,333,540	+13.2%	8	$69.04	0.91%
CCL	Carnival Corp Ltd. Consumer Cyclical	NEW	546,785	NEW	$15,621,647	NEW	1	$27.32	0.87%
TTWO	Take Two Interactive Software Inc Communication Services	Added	59,826	+254	$14,955,303	+27.1%	22	$199.01	0.83%
MELI	Mercadolibre Inc Consumer Cyclical	Reduced	8,802	-1,144	$14,940,426	−13.1%	22	$1,494.61	0.83%
USDU	WisdomTree Bloomberg U.S. Dollar Bullish Fund	Added	556,910	+26,171	$14,897,342	+6.6%	15	unpriced	0.83%
ASML	Asml Holding NV Technology	Reduced	7,341	-62	$14,604,478	+49.4%	7	$719.38	0.81%
DHR	Danaher Corp Healthcare	Reduced	75,311	-23,758	$14,345,239	−23.6%	26+	before history	0.80%
INCO	Columbia ETF Trust II	Reduced	230,518	-32,511	$13,750,398	−4.9%	22	$52.61	0.76%
BWA	Borgwarner Inc Consumer Cyclical	Reduced	201,332	-147,284	$13,368,444	−29.3%	26+	before history	0.74%
APD	Air Products & Chemicals, Inc. Basic Materials	Reduced	45,373	-391	$13,302,456	+0.1%	26+	before history	0.74%
RYAAY	Ryanair Holdings PLC Industrials	Added	203,810	+2,472	$13,196,697	+13.4%	19	unpriced	0.73%
PRF	Victory Portfolios II	Reduced	235,402	-1,042	$12,718,770	+13.2%	26+	before history	0.71%
NXPI	NXP Semiconductors N.V. Technology	Reduced	45,181	-12,833	$12,697,216	+11.2%	26+	before history	0.71%
AMJB	Financial Services	Reduced	364,721	-3,231	$12,579,227	−1.1%	9	$28.18	0.70%
V	Visa Inc. Financial Services	Reduced	36,231	-9,986	$12,430,493	−11.0%	26+	before history	0.69%
CVS	CVS HEALTH Corp Healthcare	Reduced	119,356	-5,136	$12,347,378	+38.1%	26+	before history	0.69%
ZGN	Ermenegildo Zegna N.V. Consumer Cyclical	Reduced	936,573	-5,885	$12,194,180	+24.2%	6	$8.78	0.68%
DIS	Walt Disney Co Communication Services	Reduced	123,970	-939	$11,932,112	−0.9%	26+	before history	0.66%
KMI	Kinder Morgan, Inc. Energy	Added	364,609	+927	$11,656,549	−4.4%	22	$15.77	0.65%
PSX	Phillips 66 Energy	Reduced	65,747	-505	$11,114,530	−7.9%	26+	before history	0.62%

Showing the top 50 of 203 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.