Osterweis Capital Management

Osterweis Capital Management as of Dec. 31, 2010

Portfolio Holdings for Osterweis Capital Management

Osterweis Capital Management holds 87 positions in its portfolio as reported in the December 2010 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Compuware Corporation 4.4 $144M 12M 11.67
Crown Holdings (CCK) 4.2 $139M 4.2M 33.38
Valeant Pharmaceuticals Int 4.2 $136M 4.8M 28.29
Agilent Technologies Inc C ommon (A) 3.5 $116M 2.8M 41.43
Microsoft Corporation (MSFT) 3.4 $111M 4.0M 27.91
Williams Companies (WMB) 3.2 $107M 4.3M 24.72
Republic Services (RSG) 3.2 $105M 3.5M 29.86
Johnson & Johnson (JNJ) 3.1 $103M 1.7M 61.85
Avery Dennison Corporation (AVY) 3.0 $99M 2.3M 42.34
Apache Corporation 3.0 $98M 820k 119.23
Transatlantic Holdings 3.0 $97M 1.9M 51.62
Diageo (DEO) 2.9 $95M 1.3M 74.33
Gen-Probe Incorporated 2.9 $95M 1.6M 58.35
American Water Works (AWK) 2.9 $94M 3.7M 25.29
Questar Corporation 2.8 $92M 5.3M 17.41
Occidental Petroleum Corporation (OXY) 2.8 $91M 930k 98.10
Unilever 2.6 $86M 2.7M 31.40
Websense 2.5 $81M 4.0M 20.25
DigitalGlobe 2.4 $80M 2.5M 31.71
Enterprise Products Partners (EPD) 2.4 $80M 1.9M 41.61
Safeway 2.4 $79M 3.5M 22.49
Ca 2.4 $77M 3.2M 24.44
Avnet (AVT) 2.3 $75M 2.3M 33.03
Citi 2.1 $70M 15M 4.73
Healthsouth 2.1 $69M 3.3M 20.71
Teleflex Incorporated (TFX) 2.0 $66M 1.2M 53.81
Nalco Holding Company 1.9 $64M 2.0M 31.94
Magellan Midstream Partners 1.9 $63M 1.1M 56.50
Hewlett-Packard Company 1.8 $59M 1.4M 42.10
Symetra Finl Corp 1.6 $53M 3.9M 13.70
Energy Transfer Equity (ET) 1.5 $49M 1.3M 39.07
First Republic Bank/san F (FRCB) 1.5 $49M 1.7M 29.12
Qualcomm (QCOM) 1.3 $44M 890k 49.49
Honeywell International (HON) 1.1 $37M 692k 53.16
Medtronic 1.1 $37M 986k 37.09
Computer Sciences Corporation 1.0 $32M 649k 49.60
FMC Corporation (FMC) 1.0 $32M 405k 79.89
School Specialty Inc sdcv 3.750%11/3 0.8 $25M 26M 0.97
Smith & Wesson Hldg Corp note 4.000%12/1 0.8 $25M 25M 0.99
Penn Va Corp note 4.500%11/1 0.7 $21M 21M 1.00
L-1 Identity Solutions Inc note 3.750% 5/1 0.6 $20M 20M 1.00
Teleflex Inc note 3.875% 8/0 0.6 $20M 19M 1.05
Sandisk Corp note 1.000% 5/1 0.5 $18M 19M 0.96
Central European Dist Corp note 3.000% 3/1 0.5 $16M 17M 0.93
Spartan Stores Inc note 3.375% 5/1 0.4 $13M 13M 0.95
Mentor Graphics Corp sdcv 6.250% 3/0 0.4 $12M 12M 1.07
Mentor Graphics Corp note 6.250% 3/0 0.4 $12M 12M 1.07
Charming Shoppes Inc note 1.125% 5/0 0.3 $11M 13M 0.84
Stewart Enterprises Inc note 3.125% 7/1 0.3 $10M 11M 0.97
Lsb Industries, Inc. Cv. Sr. S conv 0.3 $9.5M 9.3M 1.02
Targa Res Corp (TRGP) 0.2 $8.0M 300k 26.81
Supervalu Inc note 11/0 0.2 $7.1M 18M 0.39
Euronet Worldwide Inc note 3.500%10/1 0.2 $5.8M 5.9M 0.99
Procter & Gamble Company (PG) 0.2 $6.0M 93k 64.33
Lions Gate Entmnt Corp note 2.938%10/1 0.2 $5.6M 5.8M 0.98
Mentor Graphics Corp debt 6.250% 3/0 0.2 $5.3M 5.0M 1.06
Alere Inc note 3.000% 5/1 0.1 $4.8M 4.5M 1.06
Comtech Telecommunications Cor conv 0.1 $4.2M 4.0M 1.04
Hologic Inc frnt 2.000%12/1 0.1 $3.9M 4.1M 0.94
Dryships Inc. note 5.000%12/0 0.1 $2.6M 2.5M 1.03
Barrett Bill Corp note 5.000% 3/1 0.1 $2.0M 2.0M 1.03
Exxon Mobil Corporation (XOM) 0.1 $2.0M 28k 73.13
Medtronic Inc note 1.500% 4/1 0.1 $1.6M 1.6M 1.00
Stanley Black & Decker Inc unit 99/99/9999 0.1 $1.6M 15k 109.00
DURECT Corporation 0.0 $1.4M 415k 3.45
San Juan Basin Royalty Trust (SJT) 0.0 $1.3M 54k 23.53
Eli Lilly & Co. (LLY) 0.0 $951k 27k 35.03
Merck & Co (MRK) 0.0 $838k 23k 36.08
JPMorgan Chase & Co. (JPM) 0.0 $562k 13k 42.38
Bristol Myers Squibb (BMY) 0.0 $499k 19k 26.50
International Business Machines (IBM) 0.0 $597k 4.1k 146.68
American Express Company (AXP) 0.0 $250k 5.8k 42.92
Berkshire Hathaway (BRK.B) 0.0 $205k 2.6k 79.95
Coca-Cola Company (KO) 0.0 $261k 4.0k 65.83
Devon Energy Corporation (DVN) 0.0 $277k 3.5k 78.38
Abbott Laboratories (ABT) 0.0 $434k 9.1k 47.94
Chevron Corporation (CVX) 0.0 $185k 2.0k 91.36
General Electric Company 0.0 $380k 21k 18.25
Union Pacific Corporation (UNP) 0.0 $278k 3.0k 92.67
Anadarko Petroleum Corporation 0.0 $237k 3.1k 76.08
Apple (AAPL) 0.0 $445k 1.4k 322.70
Berkshire Hathaway (BRK.A) 0.0 $482k 4.00 120500.00
Pepsi (PEP) 0.0 $410k 6.3k 65.23
Philip Morris International (PM) 0.0 $204k 3.5k 58.43
United Technologies Corporation 0.0 $268k 3.4k 78.82
Thompson Creek Metals 0.0 $221k 15k 14.73
Mead Johnson Nutrition 0.0 $155k 2.5k 62.12