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
Estimated average burden
hours per response:		23.8

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	3,125	37,195	SH		OTR	1	37,195	0	0
ABBOTT LABS	COM	002824100	72	1,200	SH		OTR		1,200	0	0
ABBOTT LABS	COM	002824100	150	2,500	SH		OTR	1	2,500	0	0
ABBVIE INC	COM	00287Y109	114	1,200	SH		OTR		1,200	0	0
ABBVIE INC	COM	00287Y109	234	2,470	SH		OTR	1	2,470	0	0
ACETO CORP	NOTE 2.000%11/0	004446AD2	38,098	43,414,000	PRN		OTR	1	43,414,000	0	0
AIR LEASE CORP	CL A	00912X302	12,033	282,325	SH		OTR		282,325	0	0
AIR LEASE CORP	CL A	00912X302	20,376	478,092	SH		OTR	1	467,813	0	10,094
ALARM COM HLDGS INC	COM	011642105	1,437	38,075	SH		OTR	1	38,075	0	0
ALIGN TECHNOLOGY INC	COM	016255101	2,702	10,760	SH		OTR	1	10,760	0	0
ALPHABET INC	CAP STK CL A	02079K305	1,791	1,727	SH		OTR		1,727	0	0
ALPHABET INC	CAP STK CL A	02079K305	7,662	7,387	SH		OTR	1	5,206	0	220
ALPHABET INC	CAP STK CL C	02079K107	42,133	40,836	SH		OTR	1	37,700	0	701
ALPHABET INC	CAP STK CL C	02079K107	24,147	23,403	SH		OTR		23,403	0	0
AMERICAN EXPRESS CO	COM	025816109	501	5,375	SH		OTR		5,375	0	0
AMERICAN EXPRESS CO	COM	025816109	93	1,000	SH		OTR	1	0	0	1,000
AMERICAN RLTY CAP PPTYS INC	NOTE 3.000% 8/0	02917TAA2	13,350	13,350,000	PRN		OTR	1	13,350,000	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	7,055	85,905	SH		OTR		85,905	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	15,626	190,256	SH		OTR	1	186,135	0	3,986
ANTERO MIDSTREAM GP LP	COM SHS REPSTG	03675Y103	303	18,955	SH		OTR		18,955	0	0
ANTERO MIDSTREAM GP LP	COM SHS REPSTG	03675Y103	1,295	80,960	SH		OTR	1	80,960	0	0
ANTERO MIDSTREAM PARTNERS LP	UNT LTD PARTN	03673L103	2,774	107,155	SH		OTR		107,155	0	0
ANTERO MIDSTREAM PARTNERS LP	UNT LTD PARTN	03673L103	5,151	198,950	SH		OTR	1	192,525	0	6,425
APPLE INC	COM	037833100	1,560	9,297	SH		OTR	1	9,297	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	1,196	4	SH		OTR		4	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	299	1	SH		OTR	1	0	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	1,129	5,661	SH		OTR	1	5,611	0	50
BIO TECHNE CORP	COM	09073M104	7,736	51,215	SH		OTR	1	51,215	0	0
BOEING CO	COM	097023105	20,786	63,394	SH		OTR	1	61,346	0	2,048
BOEING CO	COM	097023105	11,233	34,261	SH		OTR		34,261	0	0
BOFI HLDG INC	COM	05566U108	4,685	115,605	SH		OTR	1	115,605	0	0
BOINGO WIRELESS INC	COM	09739C102	2,029	81,900	SH		OTR	1	81,900	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	672	10,617	SH		OTR		10,617	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	247	3,906	SH		OTR	1	3,906	0	0
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	10,344	265,240	SH		OTR		265,240	0	0
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	19,916	510,670	SH		OTR	1	501,830	0	8,840
CAVCO INDS INC DEL	COM	149568107	4,248	24,451	SH		OTR	1	24,451	0	0
CEDAR FAIR L P	DEPOSITRY UNIT	150185106	14,116	220,975	SH		OTR	1	215,555	0	5,420
CEDAR FAIR L P	DEPOSITRY UNIT	150185106	10,183	159,408	SH		OTR		159,408	0	0
CHARTER COMMUNICATIONS INC N	CL A	16119P108	12,423	39,917	SH		OTR		39,917	0	0
CHARTER COMMUNICATIONS INC N	CL A	16119P108	22,602	72,621	SH		OTR	1	70,932	0	1,648
CLEVELAND CLIFFS INC	DBCV 1.500% 1/1	185899AA9	29,675	27,500,000	PRN		OTR	1	27,500,000	0	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	7,034	87,380	SH		OTR		87,380	0	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	14,969	185,950	SH		OTR	1	182,775	0	3,175
COLLEGIUM PHARMACEUTICAL INC	COM	19459J104	4,147	162,305	SH		OTR	1	162,305	0	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	14,086	128,511	SH		OTR		128,511	0	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	20,971	191,320	SH		OTR	1	188,620	0	2,700
CROWN HOLDINGS INC	COM	228368106	7	130	SH		OTR	1	0	0	0
CROWN HOLDINGS INC	COM	228368106	513	10,104	SH		OTR		10,104	0	0
DANAHER CORP DEL	COM	235851102	11,664	119,126	SH		OTR		119,126	0	0
DANAHER CORP DEL	COM	235851102	20,402	208,375	SH		OTR	1	204,500	0	3,875
DOWDUPONT INC	COM	26078J100	9,670	151,785	SH		OTR		151,785	0	0
DOWDUPONT INC	COM	26078J100	15,871	249,122	SH		OTR	1	243,047	0	6,075
ENOVA INTL INC	COM	29357K103	3,608	163,645	SH		OTR	1	163,645	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	20,240	826,816	SH		OTR	1	807,182	0	19,474
ENTERPRISE PRODS PARTNERS L	COM	293792107	16,426	671,005	SH		OTR		671,005	0	0
ETSY INC	COM	29786A106	5,193	185,085	SH		OTR	1	185,085	0	0
EVERBRIDGE INC	COM	29978A104	3,595	98,230	SH		OTR	1	98,230	0	0
EXXON MOBIL CORP	COM	30231G102	804	10,776	SH		OTR		10,776	0	0
EXXON MOBIL CORP	COM	30231G102	552	7,403	SH		OTR	1	7,403	0	0
EZCORP INC	NOTE 2.625% 6/1	302301AB2	9,857	9,375,000	PRN		OTR	1	9,375,000	0	0
FACEBOOK INC	CL A	30303M102	8,130	50,880	SH		OTR		50,880	0	0
FACEBOOK INC	CL A	30303M102	13,605	85,145	SH		OTR	1	83,150	0	1,995
FIRST REP BK SAN FRANCISCO C	COM	33616C100	88	952	SH		OTR	1	952	0	0
FIRST REP BK SAN FRANCISCO C	COM	33616C100	1,585	17,110	SH		OTR		17,110	0	0
GTT COMMUNICATIONS INC	COM	362393100	5,768	101,722	SH		OTR	1	101,722	0	0
HANNON ARMSTRONG SUST INFR C	COM	41068X100	8,815	452,075	SH		OTR	1	445,200	0	6,875
HANNON ARMSTRONG SUST INFR C	COM	41068X100	4,820	247,172	SH		OTR		247,172	0	0
HOLOGIC INC	COM	436440101	10,011	267,950	SH		OTR		267,950	0	0
HOLOGIC INC	COM	436440101	14,837	397,155	SH		OTR	1	386,845	0	10,310
HORIZON GLOBAL CORP	NOTE 2.750% 7/0	44052WAA2	17,568	21,433,000	PRN		OTR	1	21,433,000	0	0
HORTONWORKS INC	COM	440894103	5,007	245,825	SH		OTR	1	245,825	0	0
INOGEN INC	COM	45780L104	5,316	43,273	SH		OTR	1	43,273	0	0
INTEL CORP	COM	458140100	10,426	200,184	SH		OTR	1	197,055	0	3,129
INTEL CORP	COM	458140100	7,328	140,700	SH		OTR		140,700	0	0
INTERSECT ENT INC	COM	46071F103	280	7,122	SH		OTR	1	0	0	7,122
IRHYTHM TECHNOLOGIES INC	COM	450056106	2,543	40,400	SH		OTR	1	40,400	0	0
ISHARES TR	CORE 1 5 YR USD	46432F859	265	5,370	PRN		OTR	1	5,370	0	0
JBG SMITH PPTYS	COM	46590V100	172	5,102	SH		SOLE		5,102	0	0
JOHNSON & JOHNSON	COM	478160104	9,535	74,408	SH		OTR		74,408	0	0
JOHNSON & JOHNSON	COM	478160104	16,310	127,273	SH		OTR	1	125,308	0	1,910
JPMORGAN CHASE & CO	COM	46625H100	16,722	152,058	SH		OTR		152,058	0	0
JPMORGAN CHASE & CO	COM	46625H100	30,503	277,375	SH		OTR	1	272,780	0	4,595
KINSALE CAP GROUP INC	COM	49714P108	3,585	69,850	SH		OTR	1	69,850	0	0
KRATOS DEFENSE & SEC SOLUTIO	COM NEW	50077B207	1,683	163,565	SH		OTR	1	163,565	0	0
LENDINGTREE INC NEW	COM	52603B107	3,300	10,057	SH		OTR	1	10,057	0	0
LIGAND PHARMACEUTICALS INC	COM NEW	53220K504	6,870	41,594	SH		OTR	1	41,594	0	0
LILLY ELI & CO	COM	532457108	1,273	16,451	SH		OTR		16,451	0	0
LILLY ELI & CO	COM	532457108	634	8,188	SH		OTR	1	8,188	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	5,867	100,544	SH		OTR		100,544	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	13,777	236,103	SH		OTR	1	233,090	0	2,928
MCGRATH RENTCORP	COM	580589109	211	3,939	SH		OTR	1	3,939	0	0
MEDIFAST INC	COM	58470H101	1,827	19,550	SH		OTR	1	19,550	0	0
MERCK & CO INC	COM	58933Y105	43	783	SH		OTR		783	0	0
MERCK & CO INC	COM	58933Y105	585	10,730	SH		OTR	1	10,730	0	0
MICROCHIP TECHNOLOGY INC	COM	595017104	9,509	104,080	SH		OTR		104,080	0	0
MICROCHIP TECHNOLOGY INC	COM	595017104	16,001	175,135	SH		OTR	1	172,045	0	3,090
MICROCHIP TECHNOLOGY INC	NOTE 1.625% 2/1	595017AF1	3,547	3,000,000	PRN		OTR	1	3,000,000	0	0
MICROSOFT CORP	COM	594918104	13,967	153,025	SH		OTR		153,025	0	0
MICROSOFT CORP	COM	594918104	25,033	274,275	SH		OTR	1	268,820	0	5,455
NAVISTAR INTL CORP NEW	NOTE 4.500%10/1	63934EAQ1	62,152	61,445,000	PRN		OTR	1	61,445,000	0	0
NEW RELIC INC	COM	64829B100	3,548	47,865	SH		OTR	1	47,865	0	0
NEXTERA ENERGY INC	COM	65339F101	12,810	78,430	SH		OTR		78,430	0	0
NEXTERA ENERGY INC	COM	65339F101	20,840	127,595	SH		OTR	1	125,440	0	2,155
NOVARTIS A G	SPONSORED ADR	66987V109	25,725	318,186	SH		OTR	1	311,061	0	7,085
NOVARTIS A G	SPONSORED ADR	66987V109	16,045	198,452	SH		OTR		198,452	0	0
NUTANIX INC	CL A	67059N108	6,055	123,290	SH		OTR	1	123,290	0	0
OKTA INC	CL A	679295105	1,854	46,525	SH		OTR	1	46,525	0	0
ORASURE TECHNOLOGIES INC	COM	68554V108	4,305	254,855	SH		OTR	1	254,855	0	0
OSI SYSTEMS INC	NOTE 1.250% 9/0	671044AD7	18,377	20,250,000	PRN		OTR	1	20,250,000	0	0
PETIQ INC	COM CL A	71639T106	5,061	190,280	SH		OTR	1	190,280	0	0
PIMCO ETF TR	0-5 HIGH YIELD	72201R783	619	6,215	PRN		OTR	1	6,215	0	0
PLANET FITNESS INC	CL A	72703H101	6,187	163,810	SH		OTR	1	163,810	0	0
POST HLDGS INC	COM	737446104	15,408	203,380	SH		OTR	1	200,155	0	3,225
POST HLDGS INC	COM	737446104	7,899	104,262	SH		OTR		104,262	0	0
PRA GROUP INC	COM	69354N106	4,256	112,000	SH		OTR	1	112,000	0	0
PROCTER AND GAMBLE CO	COM	742718109	1,024	12,910	SH		OTR		12,910	0	0
PROCTER AND GAMBLE CO	COM	742718109	1,305	16,459	SH		OTR	1	16,459	0	0
PURE STORAGE INC	CL A	74624M102	1,770	88,730	SH		OTR	1	88,730	0	0
RAPID7 INC	COM	753422104	5,242	205,025	SH		OTR	1	205,025	0	0
RPM INTL INC	COM	749685103	21,296	446,745	SH		OTR	1	439,395	0	7,350
RPM INTL INC	COM	749685103	13,091	274,616	SH		OTR		274,616	0	0
SERVICEMASTER GLOBAL HLDGS I	COM	81761R109	17,004	334,400	SH		OTR	1	328,945	0	5,455
SERVICEMASTER GLOBAL HLDGS I	COM	81761R109	11,192	220,096	SH		SOLE		220,096	0	0
SITEONE LANDSCAPE SUPPLY INC	COM	82982L103	4,476	58,105	SH		OTR	1	58,105	0	0
SOLARIS OILFIELD INFRSTR INC	COM CL A	83418M103	3,915	236,405	SH		OTR	1	236,405	0	0
STARBUCKS CORP	COM	855244109	6,237	107,740	SH		OTR		107,740	0	0
STARBUCKS CORP	COM	855244109	11,431	197,465	SH		OTR	1	192,180	0	5,285
SUMMIT MATLS INC	CL A	86614U100	3,349	110,600	SH		OTR	1	110,600	0	0
TABULA RASA HEALTHCARE INC	COM	873379101	3,198	82,425	SH		OTR	1	82,425	0	0
TELADOC INC	COM	87918A105	3,021	74,965	SH		OTR	1	74,965	0	0
TELEFLEX INC	COM	879369106	8,713	34,173	SH		OTR		34,173	0	0
TELEFLEX INC	COM	879369106	13,776	54,028	SH		OTR	1	53,105	0	843
TIVITY HEALTH INC	COM	88870R102	3,648	92,015	SH		OTR	1	92,015	0	0
TREX CO INC	COM	89531P105	2,451	22,530	SH		OTR	1	22,530	0	0
TUTOR PERINI CORP	NOTE 2.875% 6/1	901109AD0	6,332	6,010,000	PRN		OTR	1	6,010,000	0	0
UNION PAC CORP	COM	907818108	807	6,000	SH		SOLE		6,000	0	0
UNISYS CORP	NOTE 5.500% 3/0	909214BS6	38,823	29,555,000	PRN		OTR	1	29,555,000	0	0
UNIVAR INC	COM	91336L107	7,314	263,580	SH		OTR		263,580	0	0
UNIVAR INC	COM	91336L107	13,319	479,980	SH		OTR	1	473,700	0	6,280
US FOODS HLDG CORP	COM	912008109	13,525	412,733	SH		OTR		412,733	0	0
US FOODS HLDG CORP	COM	912008109	24,477	746,930	SH		OTR	1	734,930	0	12,000
VICI PPTYS INC	COM	925652109	6,393	348,945	SH		OTR	1	348,945	0	0
VICI PPTYS INC	COM	925652109	2,512	137,110	SH		OTR		137,110	0	0
VISA INC	COM CL A	92826C839	4,312	36,045	SH		OTR		36,045	0	0
VISA INC	COM CL A	92826C839	7,348	61,425	SH		OTR	1	60,380	0	1,045
WASTE CONNECTIONS INC	COM	94106B101	8,965	124,970	SH		OTR		124,970	0	0
WASTE CONNECTIONS INC	COM	94106B101	15,044	209,710	SH		OTR	1	204,265	0	5,445
WEB COM GROUP INC	NOTE 1.000% 8/1	94733AAA2	50,752	51,264,000	PRN		OTR	1	51,264,000	0	0
WELLS FARGO CO NEW	COM	949746101	668	12,755	SH		OTR	1	9,755	0	3,000
ZILLOW GROUP INC	CL A	98954M101	5,682	105,213	SH		OTR	1	105,213	0	0