OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC

CIK

1005607

Location

SAN FRANCISCO, CA

Portfolio Value

Mid $1,029,528,099

Diversification

Diversified

Filing Date

Global Rank

#1,721 / 8,605 ▼ 25 · as of Mar 2026

Top Industry

Software - Infrastructure 9.7%

3Y Alpha vs SPY

-7.0%

Period ended 3 months ago

Filed Apr 27, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+46.7%

SPY

+76.5%

Annualised alpha

-7.2%

Max drawdown

−17.9%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

130 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

7.0%

+0.0 pts

Top 5

22.5%

+0.4 pts

Top 10

33.4%

+1.0 pts

HHI

205

Diversified+3

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	29.3%	$301,570,041	25
Consumer Cyclical	18.8%	$193,314,334	20
Healthcare	9.4%	$96,615,432	14
Financial Services	9.4%	$96,518,628	14
Communication Services	7.3%	$75,083,988	7
Industrials	6.2%	$63,921,125	18
Energy	6.1%	$62,823,343	7
Consumer Defensive	5.6%	$57,543,773	7
Unclassified	3.7%	$38,068,822	5
Basic Materials	2.3%	$23,494,392	7
Real Estate	1.9%	$19,277,210	4
Utilities	0.1%	$1,297,011	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
ZGN	Ermenegildo Zegna N.V.	+243,137	942,458	$9,820,412
PLNT	Planet Fitness, Inc.	+79,915	152,197	$11,320,412
ESTC	Elastic N.V.	+63,105	143,144	$7,155,768
TREX	Trex Co Inc	+58,300	208,136	$7,580,313
AMZN	Amazon Com Inc	+38,683	178,994	$37,279,080
PANW	Palo Alto Networks Inc	+32,501	140,725	$22,561,032
MSFT	Microsoft Corp	+21,657	155,924	$57,718,387
POOL	Pool Corp	+12,422	50,045	$10,125,604
XYZ	Block, Inc.	+9,683	239,829	$14,432,909
CRM	Salesforce, Inc.	+9,133	75,771	$14,144,172
TMO	Thermo Fisher Scientific Inc.	+8,793	43,966	$21,610,607
BABA	Alibaba Group Holding Ltd	+8,082	115,896	$14,540,312
APO	Apollo Global Management, Inc.	+7,667	37,339	$4,160,311
DIS	Walt Disney Co	+5,311	124,909	$12,038,729
CVS	CVS HEALTH Corp	+4,633	124,492	$8,941,015
ABT	Abbott Laboratories	+4,596	112,500	$11,550,375
GOOGL	Alphabet Inc.	+3,965	94,183	$27,083,263
TCOM	Trip.com Group Ltd	+3,879	179,699	$8,947,213
CZR	Caesars Entertainment, Inc.	+2,191	366,640	$9,690,295
MRSH	Marsh & Mclennan Companies, Inc.	+2,066	80,882	$14,028,982
SLB	Slb Limited/Nv	+1,732	242,469	$12,460,481
V	Visa Inc.	+1,666	46,217	$13,968,626
MGM	MGM Resorts International	+1,404	344,057	$12,733,549
DHR	Danaher Corp /De/	+1,368	99,069	$18,783,482
CBRE	Cbre Group, Inc.	+1,133	58,884	$7,976,426
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
BUSE	First Busey Corp /Nv/	−150,924	210,214	$5,312,107
AAAU	Goldman Sachs Physical Gold ETF	−109,182	172,340	$7,960,384
WSC	WillScot Holdings Corp	−63,223	300,098	$5,209,701
LVS	Las Vegas Sands Corp	−62,843	170,370	$9,179,535
IAU	Ishares Gold Trust	−55,470	120,637	$10,635,357
RTX	RTX Corp	−51,834	2,310	$445,599
LNG	Cheniere Energy, Inc.	−51,646	21,794	$6,184,265
UNP	Union Pacific Corp	−43,688	15,303	$3,712,813
VMC	Vulcan Materials CO	−35,234	3,605	$981,641
FCX	Freeport-Mcmoran Inc	−34,895	56,435	$3,317,249
PFE	Pfizer Inc	−26,270	108,581	$3,048,954
KEYS	Keysight Technologies, Inc.	−17,807	24,829	$7,010,964
BWA	Borgwarner Inc	−16,876	348,616	$18,915,904
WMT	Walmart Inc.	−10,732	123,089	$15,297,500
NVDA	Nvidia Corp	−10,250	186,766	$32,571,990
CUK	CARNIVAL PLC	−8,771	549,495	$14,160,486
ADP	Automatic Data Processing Inc	−7,630	43,557	$8,849,911
KMI	Kinder Morgan, Inc.	−3,136	363,682	$12,194,257
PM	Philip Morris International Inc.	−2,044	40,000	$6,613,600
COST	Costco Wholesale Corp /New	−1,771	10,656	$10,617,958
ECL	Ecolab Inc.	−1,550	878	$233,565
AL	SUMISHO AIR LEASE CORP	−1,515	68,860	$4,471,768
PSX	Phillips 66	−1,435	66,252	$12,069,789
SHEL	Shell plc	−1,400	4,615	$429,195
AMD	Advanced Micro Devices Inc	−1,363	107,387	$21,845,737
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
NOW	ServiceNow, Inc.	87,101	$9,106,409
NFLX	Netflix Inc	76,007	$7,308,073
URI	United Rentals, Inc.	8,768	$6,388,014
BSX	Boston Scientific Corp	82,511	$5,177,565
VZ	Verizon Communications Inc	4,290	$215,358
LH	Labcorp Holdings Inc.	768	$204,910
No positions match the current search.

Sold Out

Positions the filer fully exited

8 positions

Ticker	Company	Shares	Value
NICE	NICE Ltd.	77,760	$8,789,990
GPN	Global Payments Inc	103,651	$8,022,587
WDAY	Workday, Inc.	27,043	$5,808,295
YUMC	Yum China Holdings, Inc.	17,900	$854,546
RAL	Ralliant Corp	13,150	$669,466
OHI	Omega Healthcare Investors Inc	13,055	$578,858
GIS	General Mills Inc	4,500	$209,250
KMB	Kimberly Clark Corp	2,000	$201,780
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

130 positions · $1,029,528,099 total · as of Mar 31, 2026

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

Showing 1–50 of 130 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AAPL	Apple Inc. Technology	Reduced	283,118	-1,238	$71,852,517	−7.1%	6.98%
MSFT	Microsoft Corp Technology	Added	155,924	+21,657	$57,718,387	−11.1%	5.61%
AMZN	Amazon Com Inc Consumer Cyclical	Added	178,994	+38,683	$37,279,080	+15.1%	3.62%
NVDA	Nvidia Corp Technology	Reduced	186,766	-10,250	$32,571,990	−11.4%	3.16%
JPM	Jpmorgan Chase & Co Financial Services	Added	110,719	+145	$32,569,101	−8.6%	3.16%
GOOGL	Alphabet Inc. Communication Services	Added	94,183	+3,965	$27,083,263	−4.1%	2.63%
PANW	Palo Alto Networks Inc Technology	Added	140,725	+32,501	$22,561,032	+13.2%	2.19%
AMD	Advanced Micro Devices Inc Technology	Reduced	107,387	-1,363	$21,845,737	−6.2%	2.12%
TMO	Thermo Fisher Scientific Inc. Healthcare	Added	43,966	+8,793	$21,610,607	+6.0%	2.10%
BWA	Borgwarner Inc Consumer Cyclical	Reduced	348,616	-16,876	$18,915,904	+14.9%	1.84%
DHR	Danaher Corp /De/ Healthcare	Added	99,069	+1,368	$18,783,482	−16.0%	1.82%
MELI	Mercadolibre Inc Consumer Cyclical	Reduced	9,946	-149	$17,196,832	−15.4%	1.67%
XOM	Exxon Mobil Corp Energy	Reduced	101,224	-332	$17,173,663	+40.5%	1.67%
SPY	Spdr S&P 500 ETF Trust	Added	25,758	+617	$16,751,457	−2.3%	1.63%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	34,620	-244	$16,589,904	−5.3%	1.61%
META	Meta Platforms, Inc. Communication Services	Added	28,713	+231	$16,427,568	−12.6%	1.60%
WMT	Walmart Inc. Consumer Defensive	Reduced	123,089	-10,732	$15,297,500	+2.6%	1.49%
BABA	Alibaba Group Holding Ltd Consumer Cyclical	Added	115,896	+8,082	$14,540,312	−8.0%	1.41%
XYZ	Block, Inc. Technology	Added	239,829	+9,683	$14,432,909	−3.7%	1.40%
CUK	CARNIVAL PLC Consumer Cyclical	Reduced	549,495	-8,771	$14,160,486	−16.4%	1.38%
CRM	Salesforce, Inc. Technology	Added	75,771	+9,133	$14,144,172	−19.9%	1.37%
MRSH	Marsh & Mclennan Companies, Inc. Financial Services	Added	80,882	+2,066	$14,028,982	−4.1%	1.36%
V	Visa Inc. Financial Services	Added	46,217	+1,666	$13,968,626	−10.6%	1.36%
APD	Air Products & Chemicals, Inc. Basic Materials	Added	45,764	+248	$13,293,984	+18.2%	1.29%
MGM	MGM Resorts International Consumer Cyclical	Added	344,057	+1,404	$12,733,549	+1.8%	1.24%
SLB	Slb Limited/Nv Energy	Added	242,469	+1,732	$12,460,481	+34.9%	1.21%
KMI	Kinder Morgan, Inc. Energy	Reduced	363,682	-3,136	$12,194,257	+20.9%	1.18%
PSX	Phillips 66 Energy	Reduced	66,252	-1,435	$12,069,789	+38.2%	1.17%
DIS	Walt Disney Co Communication Services	Added	124,909	+5,311	$12,038,729	−11.5%	1.17%
TTWO	Take Two Interactive Software Inc Communication Services	Added	59,572	+1,055	$11,765,470	−21.5%	1.14%
RYAAY	Ryanair Holdings PLC Industrials	Reduced	201,338	-524	$11,637,336	−20.1%	1.13%
ABT	Abbott Laboratories Healthcare	Added	112,500	+4,596	$11,550,375	−14.6%	1.12%
NXPI	NXP Semiconductors N.V. Technology	Added	58,014	+952	$11,420,636	−7.8%	1.11%
PLNT	Planet Fitness, Inc. Consumer Cyclical	Added	152,197	+79,915	$11,320,412	+44.4%	1.10%
IAU	Ishares Gold Trust	Reduced	120,637	-55,470	$10,635,357	−25.6%	1.03%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	10,656	-1,771	$10,617,958	−0.9%	1.03%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	70,820	-111	$10,229,240	+0.6%	0.99%
POOL	Pool Corp Industrials	Added	50,045	+12,422	$10,125,604	+17.7%	0.98%
ZGN	Ermenegildo Zegna N.V. Consumer Cyclical	Added	942,458	+243,137	$9,820,412	+37.0%	0.95%
ASML	Asml Holding NV Technology	Reduced	7,403	-71	$9,778,104	+22.3%	0.95%
CZR	Caesars Entertainment, Inc. Consumer Cyclical	Added	366,640	+2,191	$9,690,295	+13.7%	0.94%
PEP	Pepsico Inc Consumer Defensive	Reduced	62,048	-331	$9,635,433	+7.6%	0.94%
LOW	Lowes Companies Inc Consumer Cyclical	Added	39,784	+553	$9,400,163	−0.6%	0.91%
LVS	Las Vegas Sands Corp Consumer Cyclical	Reduced	170,370	-62,843	$9,179,535	−39.5%	0.89%
NOW	ServiceNow, Inc. Technology	NEW	87,101	NEW	$9,106,409	NEW	0.88%
TCOM	Trip.com Group Ltd Consumer Cyclical	Added	179,699	+3,879	$8,947,213	−29.2%	0.87%
CVS	CVS HEALTH Corp Healthcare	Added	124,492	+4,633	$8,941,015	−6.0%	0.87%
NKE	NIKE, Inc. Consumer Cyclical	Reduced	168,717	-431	$8,911,631	−17.3%	0.87%
ADP	Automatic Data Processing Inc Technology	Reduced	43,557	-7,630	$8,849,911	−32.8%	0.86%
CBRE	Cbre Group, Inc. Real Estate	Added	58,884	+1,133	$7,976,426	−14.1%	0.77%