Osterweis Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
2U INC	COM	90214J101	2,399	37,195	SH		OTR	1	37,195	0	0
ABBOTT LABS	COM	002824100	68	1,200	SH		OTR		1,200	0	0
ABBOTT LABS	COM	002824100	143	2,500	SH		OTR	1	2,500	0	0
ABBVIE INC	COM	00287Y109	116	1,200	SH		OTR		1,200	0	0
ABBVIE INC	COM	00287Y109	239	2,470	SH		OTR	1	2,470	0	0
ACETO CORP	NOTE 2.000%11/0	004446AD2	39,018	43,414,000	PRN		OTR	1	43,414,000	0	0
ADVANCED DISP SVCS INC DEL	COM	00790X101	7,375	308,067	SH		OTR		304,167	0	3,900
ADVANCED DISP SVCS INC DEL	COM	00790X101	11,648	486,550	SH		OTR	1	477,640	0	8,910
AIR LEASE CORP	CL A	00912X302	15,767	327,855	SH		OTR		323,025	0	4,830
AIR LEASE CORP	CL A	00912X302	26,417	549,332	SH		OTR	1	536,493	0	12,654
ALARM COM HLDGS INC	COM	011642105	3,724	98,655	SH		OTR	1	98,655	0	0
ALIGN TECHNOLOGY INC	COM	016255101	2,254	10,145	SH		OTR	1	10,145	0	0
ALPHABET INC	CAP STK CL A	02079K305	2,235	2,122	SH		OTR		2,067	0	55
ALPHABET INC	CAP STK CL A	02079K305	9,006	8,549	SH		OTR	1	6,368	0	220
ALPHABET INC	CAP STK CL C	02079K107	28,129	26,882	SH		OTR		26,539	0	343
ALPHABET INC	CAP STK CL C	02079K107	43,575	41,643	SH		OTR	1	38,342	0	866
AMERICAN EXPRESS CO	COM	025816109	99	1,000	SH		OTR	1	0	0	1,000
AMERICAN EXPRESS CO	COM	025816109	534	5,375	SH		OTR		5,375	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	17,848	195,081	SH		OTR	1	189,925	0	5,021
AMERICAN WTR WKS CO INC NEW	COM	030420103	8,282	90,525	SH		OTR		88,275	0	2,250
ANALOG DEVICES INC	COM	032654105	45	500	SH		OTR	1	0	0	500
ANTERO MIDSTREAM PARTNERS LP	UNT LTD PARTN	03673L103	5,565	191,640	SH		OTR		191,640	0	0
ANTERO MIDSTREAM PARTNERS LP	UNT LTD PARTN	03673L103	7,196	247,815	SH		OTR	1	241,390	0	6,425
APPLE INC	COM	037833100	1,573	9,297	SH		OTR	1	9,297	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	1,190	4	SH		OTR		4	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	298	1	SH		OTR	1	0	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	864	4,358	SH		OTR	1	4,308	0	50
BERRY GLOBAL GROUP INC	COM	08579W103	14,130	240,839	SH		OTR		237,499	0	3,340
BERRY GLOBAL GROUP INC	COM	08579W103	22,671	386,415	SH		OTR	1	378,922	0	7,493
BIO TECHNE CORP	COM	09073M104	5,554	42,870	SH		OTR	1	42,870	0	0
BMC STK HLDGS INC	COM	05591B109	3,209	126,840	SH		OTR	1	126,840	0	0
BOEING CO	COM	097023105	13,220	44,827	SH		OTR		44,122	0	705
BOEING CO	COM	097023105	26,895	91,196	SH		OTR	1	88,718	0	2,478
BOFI HLDG INC	COM	05566U108	3,710	124,065	SH		OTR	1	124,065	0	0
BOINGO WIRELESS INC	COM	09739C102	3,631	161,385	SH		OTR	1	161,385	0	0
BOX INC	CL A	10316T104	3,169	150,065	SH		OTR	1	150,065	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	240	3,906	SH		OTR	1	3,906	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	651	10,617	SH		OTR		10,617	0	0
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	9,153	210,230	SH		OTR		205,660	0	4,570
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	22,396	514,375	SH		OTR	1	503,935	0	10,440
CAVCO INDS INC DEL	COM	149568107	4,190	27,456	SH		OTR	1	27,456	0	0
CEDAR FAIR L P	DEPOSITRY UNIT	150185106	10,923	168,073	SH		OTR		166,258	0	1,815
CEDAR FAIR L P	DEPOSITRY UNIT	150185106	14,422	221,910	SH		OTR	1	218,490	0	3,420
CF INDS HLDGS INC	COM	125269100	15,330	360,373	SH		OTR	1	351,681	0	8,692
CF INDS HLDGS INC	COM	125269100	10,634	249,988	SH		OTR		246,808	0	3,180
CHARTER COMMUNICATIONS INC N	CL A	16119P108	13,968	41,575	SH		OTR		40,983	0	592
CHARTER COMMUNICATIONS INC N	CL A	16119P108	24,658	73,394	SH		OTR	1	71,497	0	1,856
CLEVELAND CLIFFS INC	DBCV 1.500% 1/1	185899AA9	30,113	27,500,000	PRN		OTR	1	27,500,000	0	0
COMMERCEHUB INC	COM SER A	20084V108	3,872	176,102	SH		OTR	1	176,102	0	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	15,160	136,566	SH		OTR		135,151	0	1,415
CROWN CASTLE INTL CORP NEW	COM	22822V101	21,445	193,180	SH		OTR	1	190,010	0	3,170
CROWN HOLDINGS INC	COM	228368106	12,629	224,523	SH		OTR		219,463	0	5,060
CROWN HOLDINGS INC	COM	228368106	21,534	382,836	SH		OTR	1	374,416	0	8,290
DANAHER CORP DEL	COM	235851102	12,329	132,831	SH		OTR		131,116	0	1,715
DANAHER CORP DEL	COM	235851102	19,311	208,050	SH		OTR	1	203,575	0	4,475
DAVE & BUSTERS ENTMT INC	COM	238337109	3,771	68,359	SH		OTR	1	68,359	0	0
DIAGEO P L C	SPON ADR NEW	25243Q205	11,071	75,811	SH		OTR		74,746	0	1,065
DIAGEO P L C	SPON ADR NEW	25243Q205	17,777	121,736	SH		OTR	1	118,726	0	2,970
DOWDUPONT INC	COM	26078J100	9,639	135,340	SH		OTR		133,515	0	1,825
DOWDUPONT INC	COM	26078J100	12,483	175,272	SH		OTR	1	171,697	0	3,575
ENTERPRISE PRODS PARTNERS L	COM	293792107	18,278	689,460	SH		OTR		682,710	0	6,750
ENTERPRISE PRODS PARTNERS L	COM	293792107	21,158	798,111	SH		OTR	1	778,477	0	19,474
ETSY INC	COM	29786A106	4,740	231,780	SH		OTR	1	231,780	0	0
EXXON MOBIL CORP	COM	30231G102	901	10,776	SH		OTR		10,776	0	0
EXXON MOBIL CORP	COM	30231G102	619	7,403	SH		OTR	1	7,403	0	0
EZCORP INC	NOTE 2.625% 6/1	302301AB2	9,773	9,500,000	PRN		OTR	1	9,500,000	0	0
FACEBOOK INC	CL A	30303M102	3,895	22,075	SH		OTR		22,075	0	0
FACEBOOK INC	CL A	30303M102	2,725	15,440	SH		OTR	1	15,440	0	0
FIRST REP BK SAN FRANCISCO C	COM	33616C100	1,482	17,110	SH		OTR		17,110	0	0
FIRST REP BK SAN FRANCISCO C	COM	33616C100	82	952	SH		OTR	1	952	0	0
GTT COMMUNICATIONS INC	COM	362393100	5,140	109,487	SH		OTR	1	109,487	0	0
HALLIBURTON CO	COM	406216101	10,528	215,427	SH		OTR		212,727	0	2,700
HALLIBURTON CO	COM	406216101	16,766	343,089	SH		OTR	1	332,686	0	10,403
HANNON ARMSTRONG SUST INFR C	COM	41068X100	9,758	405,580	SH		OTR	1	399,260	0	6,320
HANNON ARMSTRONG SUST INFR C	COM	41068X100	5,500	228,597	SH		OTR		225,782	0	2,815
HOLOGIC INC	COM	436440101	11,824	276,575	SH		OTR		273,290	0	3,285
HOLOGIC INC	COM	436440101	17,254	403,620	SH		OTR	1	392,155	0	11,465
HORIZON GLOBAL CORP	NOTE 2.750% 7/0	44052WAA2	20,082	21,392,000	PRN		OTR	1	21,392,000	0	0
HORTONWORKS INC	COM	440894103	3,544	176,225	SH		OTR	1	176,225	0	0
INOGEN INC	COM	45780L104	3,226	27,088	SH		OTR	1	27,088	0	0
INPHI CORP	COM	45772F107	3,935	107,514	SH		OTR	1	107,514	0	0
INTEL CORP	COM	458140100	12,369	267,955	SH		OTR		264,710	0	3,245
INTEL CORP	COM	458140100	18,266	395,714	SH		OTR	1	388,335	0	7,379
INTERSECT ENT INC	COM	46071F103	231	7,122	SH		OTR	1	0	0	7,122
IRHYTHM TECHNOLOGIES INC	COM	450056106	2,735	48,800	SH		OTR	1	48,800	0	0
ISHARES TR	CORE 1 5 YR USD	46432F859	268	5,370	PRN		OTR	1	5,370	0	0
JBG SMITH PPTYS	COM	46590V100	177	5,102	SH		SOLE		5,102	0	0
JOHNSON & JOHNSON	COM	478160104	11,020	78,873	SH		OTR		78,323	0	550
JOHNSON & JOHNSON	COM	478160104	17,677	126,515	SH		OTR	1	124,195	0	2,265
JPMORGAN CHASE & CO	COM	46625H100	17,213	160,963	SH		OTR	1	156,978	0	3,985
JPMORGAN CHASE & CO	COM	46625H100	11,046	103,293	SH		OTR		101,963	0	1,330
KINSALE CAP GROUP INC	COM	49714P108	3,143	69,850	SH		OTR	1	69,850	0	0
KRATOS DEFENSE & SEC SOLUTIO	COM NEW	50077B207	4,553	429,945	SH		OTR	1	429,945	0	0
LENDINGTREE INC NEW	COM	52603B107	4,777	14,032	SH		OTR	1	14,032	0	0
LIGAND PHARMACEUTICALS INC	COM NEW	53220K504	4,741	34,624	SH		OTR	1	34,624	0	0
LILLY ELI & CO	COM	532457108	1,389	16,451	SH		OTR		16,451	0	0
LILLY ELI & CO	COM	532457108	692	8,188	SH		OTR	1	8,188	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	7,537	106,245	SH		OTR		103,430	0	2,815
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	17,012	239,803	SH		OTR	1	236,790	0	2,928
MERCK & CO INC	COM	58933Y105	44	783	SH		OTR		783	0	0
MERCK & CO INC	COM	58933Y105	603	10,730	SH		OTR	1	10,730	0	0
MICROCHIP TECHNOLOGY INC	COM	595017104	11,102	126,335	SH		OTR	1	123,670	0	2,665
MICROCHIP TECHNOLOGY INC	COM	595017104	8,092	92,080	SH		OTR		91,025	0	1,055
MICROSOFT CORP	COM	594918104	9,689	113,265	SH		OTR		111,725	0	1,540
MICROSOFT CORP	COM	594918104	16,374	191,420	SH		OTR	1	186,890	0	4,530
NAVISTAR INTL CORP NEW	NOTE 4.500%10/1	63934EAQ1	35,455	34,360,000	PRN		OTR	1	34,360,000	0	0
NEW RELIC INC	COM	64829B100	2,765	47,865	SH		OTR	1	47,865	0	0
NEXTERA ENERGY INC	COM	65339F101	25,616	164,000	SH		OTR	1	160,240	0	3,760
NEXTERA ENERGY INC	COM	65339F101	15,618	99,995	SH		OTR		98,555	0	1,440
NOVARTIS A G	SPONSORED ADR	66987V109	27,354	325,801	SH		OTR	1	317,751	0	8,010
NOVARTIS A G	SPONSORED ADR	66987V109	18,253	217,407	SH		OTR		214,737	0	2,670
NUTANIX INC	CL A	67059N108	4,282	121,380	SH		OTR	1	121,380	0	0
ORASURE TECHNOLOGIES INC	COM	68554V108	4,621	245,015	SH		OTR	1	245,015	0	0
PETIQ INC	COM CL A	71639T106	3,027	138,605	SH		OTR	1	138,605	0	0
PIMCO ETF TR	0-5 HIGH YIELD	72201R783	624	6,215	PRN		OTR	1	6,215	0	0
PLANET FITNESS INC	CL A	72703H101	5,263	151,990	SH		OTR	1	151,990	0	0
POPE RES DEL LTD PARTNERSHIP	DEPOSITRY RCPT	732857107	1,863	26,712	SH		SOLE		0	0	0
PRA GROUP INC	COM	69354N106	3,611	108,755	SH		OTR	1	108,755	0	0
PROCTER AND GAMBLE CO	COM	742718109	1,423	15,485	SH		OTR		15,065	0	420
PROCTER AND GAMBLE CO	COM	742718109	1,474	16,039	SH		OTR	1	16,039	0	0
Q2 HLDGS INC	COM	74736L109	1,475	40,015	SH		OTR	1	40,015	0	0
RAPID7 INC	COM	753422104	3,459	185,360	SH		OTR	1	185,360	0	0
RPM INTL INC	COM	749685103	15,548	296,596	SH		OTR		292,771	0	3,825
RPM INTL INC	COM	749685103	24,066	459,090	SH		OTR	1	450,395	0	8,695
SAREPTA THERAPEUTICS INC	COM	803607100	4,309	77,440	SH		OTR	1	77,440	0	0
SERVICEMASTER GLOBAL HLDGS I	COM	81761R109	11,667	227,551	SH		SOLE		224,711	0	2,840
SERVICEMASTER GLOBAL HLDGS I	COM	81761R109	17,364	338,670	SH		OTR	1	332,225	0	6,445
SQUARE INC	CL A	852234103	1,830	52,778	SH		OTR	1	52,778	0	0
STARBUCKS CORP	COM	855244109	6,407	111,565	SH		OTR		109,880	0	1,685
STARBUCKS CORP	COM	855244109	11,753	204,645	SH		OTR	1	197,445	0	7,200
SUMMIT MATLS INC	CL A	86614U100	2,326	73,990	SH		OTR	1	73,990	0	0
TACTILE SYS TECHNOLOGY INC	COM	87357P100	1,514	52,260	SH		OTR	1	52,260	0	0
TAKE-TWO INTERACTIVE SOFTWAR	COM	874054109	3,469	31,600	SH		OTR	1	31,600	0	0
TELADOC INC	COM	87918A105	2,695	77,320	SH		OTR	1	77,320	0	0
TELEFLEX INC	COM	879369106	13,516	54,319	SH		OTR	1	53,396	0	843
TELEFLEX INC	COM	879369106	9,054	36,388	SH		OTR		35,948	0	440
TIVITY HEALTH INC	COM	88870R102	3,363	92,015	SH		OTR	1	92,015	0	0
TREX CO INC	COM	89531P105	3,320	30,630	SH		OTR	1	30,630	0	0
TUTOR PERINI CORP	NOTE 2.875% 6/1	901109AD0	6,626	6,010,000	PRN		OTR	1	6,010,000	0	0
UNION PAC CORP	COM	907818108	805	6,000	SH		SOLE		6,000	0	0
UNISYS CORP	NOTE 5.500% 3/0	909214BS6	33,490	29,555,000	PRN		OTR	1	29,555,000	0	0
US FOODS HLDG CORP	COM	912008109	17,258	540,498	SH		OTR		533,763	0	6,735
US FOODS HLDG CORP	COM	912008109	27,670	866,575	SH		OTR	1	850,040	0	16,535
WEB COM GROUP INC	NOTE 1.000% 8/1	94733AAA2	29,586	29,960,000	PRN		OTR	1	29,960,000	0	0
WELLS FARGO CO NEW	COM	949746101	592	9,755	SH		OTR	1	9,755	0	0
ZILLOW GROUP INC	CL A	98954M101	3,177	77,993	SH		OTR	1	77,993	0	0