OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC

CIK

1005607

Location

SAN FRANCISCO, CA

Portfolio Value

Micro $57,543,773

Diversification

Diversified

Filing Date

Global Rank

#1,722 / 8,586 ▼ 29

Top Industry

Software - Infrastructure 9.6%

3Y Alpha vs SPY

-8.3%

Period ended 3 months ago

Filed Apr 27, 2026 · 50d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

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

Cloned portfolio

+44.2%

SPY

+78.1%

Annualised alpha

-8.2%

Max drawdown

−18.0%

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

6.9%

+0.1 pts

Top 5

22.4%

+0.4 pts

Top 10

33.1%

+1.0 pts

HHI

203

Diversified+4

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	29.1%	$301,570,041	25
Consumer Cyclical	19.4%	$201,592,159	20
Healthcare	9.3%	$96,615,432	14
Financial Services	9.3%	$96,518,628	14
Communication Services	7.2%	$75,083,988	7
Industrials	6.2%	$63,963,111	18
Energy	6.1%	$62,823,343	7
Consumer Defensive	5.5%	$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

7 positions · $57,543,773 total · Consumer Defensive only · as of Mar 31, 2026

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
KO	Coca Cola Co Consumer Defensive	Reduced	33,621	-81	$2,556,877	+8.5%	4.44%
MDLZ	Mondelez International, Inc. Consumer Defensive	Held	44,989	0	$2,593,165	+7.1%	4.51%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	40,000	-2,044	$6,613,600	−1.9%	11.49%
PEP	Pepsico Inc Consumer Defensive	Reduced	62,048	-331	$9,635,433	+7.6%	16.74%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	70,820	-111	$10,229,240	+0.6%	17.78%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	10,656	-1,771	$10,617,958	−0.9%	18.45%
WMT	Walmart Inc. Consumer Defensive	Reduced	123,089	-10,732	$15,297,500	+2.6%	26.58%