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Institutional Investment Manager
OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC
OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC (CIK: 0001005607) incorporated in California, located at One Embarcadero Center, San Francisco, CA. Institutional holdings reported to the SEC.

Institutional Holdings (2017Q2)
Portfolio Summary: 181 holdings with a total value of $702,954,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 MERCK & CO INC 7,996 512,000 0.07%
52 NOVARTIS A G 6,513 544,000 0.08%
53 AIR PRODS & CHEMS INC 3,845 550,000 0.08%
54 Oakmark Fund 7,159 561,000 0.08%
55 Vanguard Total Stock Mkt Idx Adm 9,278 562,000 0.08%
56 AMERIGAS PARTNERS L P 13,453 608,000 0.09%
57 SCHWAB CHARLES CORP 14,161 608,000 0.09%
58 PINNACLE WEST 7,465 636,000 0.09%
59 T Rowe Price Blue Chip Growth FD Inv 7,528 652,000 0.09%
60 DUN & BRADSTREET CORP DEL NE 6,185 669,000 0.10%
61 Vanguard 500 Index 3,095 692,000 0.10%
62 AFFILIATED MANAGERS GROUP 4,196 696,000 0.10%
63 YUM CHINA HLDGS INC 18,480 729,000 0.10%
64 VANGUARD INDEX FDS 6,242 777,000 0.11%
65 BANK AMER CORP 32,166 780,000 0.11%
66 LONGLEAF PARTNERS SM CAP FD 27,925 806,000 0.11%
67 POWERSHARES ETF DYNAMIC BIOTECHNOLOGY & GENOME 17,670 807,000 0.11%
68 VANGUARD WINDSOR II FUND ADMIRAL SHS 13,340 888,000 0.13%
69 GREAT PLAINS ENERGY INC 30,541 894,000 0.13%
70 HEALTHCARE SVCS GRP INC 20,900 979,000 0.14%
71 DOMINION ENERGY INC 12,895 988,000 0.14%
72 DUKE ENERGY CORP NEW 12,645 1,057,000 0.15%
73 CONSOLIDATED EDISON INC 13,428 1,085,000 0.15%
74 VERIZON COMMUNICATIONS INC 24,352 1,088,000 0.15%
75 MONSANTO CO NEW 9,330 1,104,000 0.16%
76 GLAXOSMITHKLINE PLC 25,671 1,107,000 0.16%
77 AMERICAN TOWER CORP NEW 8,420 1,114,000 0.16%
78 VANGUARD WELL FUND 28,037 1,148,000 0.16%
79 CARMAX INC 18,565 1,171,000 0.17%
80 KRAFT HEINZ CO 14,859 1,273,000 0.18%
81 VISA INC 14,100 1,322,000 0.19%
82 YUM BRANDS INC 18,480 1,363,000 0.19%
83 CDK GLOBAL INC 22,233 1,380,000 0.20%
84 ZIMMER BIOMET HLDGS INC 11,000 1,412,000 0.20%
85 BP PLC 41,311 1,431,000 0.20%
86 FRANKLIN RESOURCES INC 33,000 1,478,000 0.21%
87 AQR Fds Momntm Fd Cl L 72,720 1,510,000 0.21%
88 PAYPAL HLDGS INC 28,839 1,548,000 0.22%
89 AMERICAN EXPRESS CO 21,389 1,802,000 0.26%
90 ROYAL DUTCH SHELL PLC 35,692 1,898,000 0.27%
91 MONDELEZ INTL INC 44,959 1,942,000 0.28%
92 COSTCO WHSL CORP NEW 12,305 1,968,000 0.28%
93 BEMIS INC 42,700 1,975,000 0.28%
94 INTUIT 15,100 2,005,000 0.29%
95 AT&T INC 53,673 2,025,000 0.29%
96 PACCAR INC 30,853 2,038,000 0.29%
97 VANGUARD WINDSOR II FUND 55,278 2,073,000 0.29%
98 BROADCOM LTD 9,032 2,105,000 0.30%
99 CATERPILLAR INC 21,067 2,264,000 0.32%
100 DODGE & COX STOCK FUND 12,112 2,334,000 0.33%
Page 2 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001005607-17-000007, filed 2017.07.24).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.