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	2,404	28,765	SH		OTR	1	28,765	0	0
ABBVIE INC	COM	00287Y109	111	1,200	SH		OTR		1,200	0	0
ABBVIE INC	COM	00287Y109	140	1,515	SH		OTR	1	1,515	0	0
ACETO CORP	NOTE 2.000%11/0	004446AD2	32,724	43,414,000	PRN		OTR	1	43,414,000	0	0
AGILENT TECHNOLOGIES INC	COM	00846U101	3,959	64,015	SH		OTR		64,015	0	0
AGILENT TECHNOLOGIES INC	COM	00846U101	8,028	129,810	SH		OTR	1	126,405	0	3,405
AIR LEASE CORP	CL A	00912X302	11,415	271,970	SH		OTR		271,970	0	0
AIR LEASE CORP	CL A	00912X302	19,428	462,897	SH		OTR	1	451,898	0	10,094
ALIGN TECHNOLOGY INC	COM	016255101	5,182	15,145	SH		OTR	1	15,145	0	0
ALPHABET INC	CAP STK CL A	02079K305	8,019	7,102	SH		OTR	1	4,921	0	220
ALPHABET INC	CAP STK CL A	02079K305	1,860	1,647	SH		OTR		1,647	0	0
ALPHABET INC	CAP STK CL C	02079K107	25,757	23,087	SH		OTR		23,087	0	0
ALPHABET INC	CAP STK CL C	02079K107	45,281	40,587	SH		OTR	1	37,381	0	701
ALTERYX INC	COM CL A	02156B103	3,594	94,190	SH		OTR	1	94,190	0	0
AMERICAN EXPRESS CO	COM	025816109	527	5,375	SH		OTR		5,375	0	0
AMERICAN EXPRESS CO	COM	025816109	98	1,000	SH		OTR	1	0	0	1,000
AMERICAN RLTY CAP PPTYS INC	NOTE 3.000% 8/0	02917TAA2	18,388	18,388,000	PRN		OTR	1	18,388,000	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	15,917	186,430	SH		OTR	1	181,724	0	3,986
AMERICAN WTR WKS CO INC NEW	COM	030420103	7,134	83,553	SH		OTR		83,553	0	0
ANTERO MIDSTREAM GP LP	COM SHS REPSTG	03675Y103	1,527	80,960	SH		OTR	1	80,960	0	0
ANTERO MIDSTREAM GP LP	COM SHS REPSTG	03675Y103	357	18,955	SH		OTR		18,955	0	0
ANTERO MIDSTREAM PARTNERS LP	UNT LTD PARTN	03673L103	3,057	103,570	SH		OTR		103,570	0	0
ANTERO MIDSTREAM PARTNERS LP	UNT LTD PARTN	03673L103	5,512	186,730	SH		OTR	1	182,305	0	4,425
APPFOLIO INC	COM CL A	03783C100	5,021	82,105	SH		OTR	1	82,105	0	0
APPLE INC	COM	037833100	1,721	9,297	SH		OTR	1	9,297	0	0
APPTIO INC	CL A	03835C108	5,467	151,035	SH		OTR	1	151,035	0	0
AUDENTES THERAPEUTICS INC	COM	05070R104	4,312	112,840	SH		OTR	1	112,840	0	0
AVROBIO INC	COM	05455M100	2,361	82,665	SH		OTR	1	82,665	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	1,128	4	SH		OTR		4	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	282	1	SH		OTR	1	0	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	1,056	5,661	SH		OTR	1	5,611	0	50
BIO TECHNE CORP	COM	09073M104	4,470	30,215	SH		OTR	1	30,215	0	0
BLUE BIRD CORP	COM	095306106	58,345	2,610,493	SH		OTR	1	2,610,493	0	0
BOEING CO	COM	097023105	11,327	33,761	SH		OTR		33,761	0	0
BOEING CO	COM	097023105	21,493	64,060	SH		OTR	1	62,012	0	2,048
BOFI HLDG INC	COM	05566U108	5,462	133,520	SH		OTR	1	133,520	0	0
BOINGO WIRELESS INC	COM	09739C102	6,480	286,845	SH		OTR	1	286,845	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	588	10,617	SH		OTR		10,617	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	148	2,672	SH		OTR	1	2,672	0	0
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	10,555	260,365	SH		OTR		260,365	0	0
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	19,794	488,255	SH		OTR	1	479,415	0	8,840
CAVCO INDS INC DEL	COM	149568107	5,725	27,571	SH		OTR	1	27,571	0	0
CEDAR FAIR L P	DEPOSITRY UNIT	150185106	9,927	157,543	SH		OTR		157,543	0	0
CEDAR FAIR L P	DEPOSITRY UNIT	150185106	13,456	213,560	SH		OTR	1	208,140	0	5,420
CHARTER COMMUNICATIONS INC N	CL A	16119P108	9,175	31,290	SH		OTR		31,290	0	0
CHARTER COMMUNICATIONS INC N	CL A	16119P108	12,813	43,698	SH		OTR	1	42,479	0	1,178
CHEVRON CORP NEW	COM	166764100	59	465	SH		OTR		465	0	0
CHEVRON CORP NEW	COM	166764100	285	2,255	SH		OTR	1	555	0	0
CLEVELAND CLIFFS INC	DBCV 1.500% 1/1	185899AA9	31,255	25,500,000	PRN		OTR	1	25,500,000	0	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	6,781	85,845	SH		OTR		85,845	0	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	15,080	190,910	SH		OTR	1	187,735	0	3,175
COLLEGIUM PHARMACEUTICAL INC	COM	19459J104	5,433	227,785	SH		OTR	1	227,785	0	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	13,268	123,056	SH		OTR		123,056	0	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	21,049	195,225	SH		OTR	1	192,525	0	2,700
CROWN HOLDINGS INC	COM	228368106	228	5,094	SH		OTR		5,094	0	0
CROWN HOLDINGS INC	COM	228368106	6	130	SH		OTR	1	0	0	0
DANAHER CORP DEL	COM	235851102	11,388	115,401	SH		OTR		115,401	0	0
DANAHER CORP DEL	COM	235851102	20,813	210,910	SH		OTR	1	206,735	0	3,875
DIGITAL RLTY TR INC	COM	253868103	8,612	77,185	SH		OTR		77,185	0	0
DIGITAL RLTY TR INC	COM	253868103	16,051	143,845	SH		OTR	1	140,445	0	3,400
DOWDUPONT INC	COM	26078J100	9,898	150,150	SH		OTR		150,150	0	0
DOWDUPONT INC	COM	26078J100	17,014	258,107	SH		OTR	1	252,032	0	6,075
ENOVA INTL INC	COM	29357K103	8,531	233,415	SH		OTR	1	233,415	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	16,167	584,280	SH		OTR		584,280	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	21,803	787,977	SH		OTR	1	768,343	0	19,474
ETSY INC	COM	29786A106	7,154	169,565	SH		OTR	1	169,565	0	0
EVERBRIDGE INC	COM	29978A104	7,173	151,270	SH		OTR	1	151,270	0	0
EXXON MOBIL CORP	COM	30231G102	612	7,403	SH		OTR	1	7,403	0	0
EXXON MOBIL CORP	COM	30231G102	891	10,776	SH		OTR		10,776	0	0
EZCORP INC	NOTE 2.125% 6/1	302301AB2	7,465	7,375,000	PRN		OTR	1	7,375,000	0	0
FACEBOOK INC	CL A	30303M102	10,261	52,803	SH		OTR		52,803	0	0
FACEBOOK INC	CL A	30303M102	19,854	102,170	SH		OTR	1	99,365	0	2,655
FIRST REP BK SAN FRANCISCO C	COM	33616C100	1,656	17,110	SH		OTR		17,110	0	0
FIRST REP BK SAN FRANCISCO C	COM	33616C100	92	952	SH		OTR	1	952	0	0
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	202	5,000	SH		OTR	1	0	0	5,000
GTT COMMUNICATIONS INC	COM	362393100	5,654	125,647	SH		OTR	1	125,647	0	0
HANNON ARMSTRONG SUST INFR C	COM	41068X100	4,023	203,677	SH		OTR		203,677	0	0
HANNON ARMSTRONG SUST INFR C	COM	41068X100	8,284	419,455	SH		OTR	1	412,580	0	6,875
HOLOGIC INC	COM	436440101	11,887	299,055	SH		OTR		299,055	0	0
HOLOGIC INC	COM	436440101	20,653	519,570	SH		OTR	1	507,105	0	12,465
HORIZON GLOBAL CORP	NOTE 2.750% 7/0	44052WAA2	23,919	34,222,000	PRN		OTR	1	34,222,000	0	0
II VI INC	COM	902104108	3,978	91,550	SH		OTR	1	91,550	0	0
INOGEN INC	COM	45780L104	2,661	14,283	SH		OTR	1	14,283	0	0
INSULET CORP	COM	45784P101	6,725	78,470	SH		OTR	1	78,470	0	0
INTERSECT ENT INC	COM	46071F103	267	7,122	SH		OTR	1	0	0	7,122
IRHYTHM TECHNOLOGIES INC	COM	450056106	4,912	60,545	SH		OTR	1	60,545	0	0
ISHARES TR	CORE 1 5 YR USD	46432F859	264	5,370	PRN		OTR	1	5,370	0	0
JOHNSON & JOHNSON	COM	478160104	8,907	73,403	SH		OTR		73,403	0	0
JOHNSON & JOHNSON	COM	478160104	15,458	127,396	SH		OTR	1	120,631	0	3,510
JPMORGAN CHASE & CO	COM	46625H100	14,572	139,848	SH		OTR		139,848	0	0
JPMORGAN CHASE & CO	COM	46625H100	25,985	249,380	SH		OTR	1	245,070	0	4,310
LENDINGTREE INC NEW	COM	52603B107	2,412	11,282	SH		OTR	1	11,282	0	0
LIGAND PHARMACEUTICALS INC	COM NEW	53220K504	6,094	29,414	SH		OTR	1	29,414	0	0
LILLY ELI & CO	COM	532457108	699	8,188	SH		OTR	1	8,188	0	0
LILLY ELI & CO	COM	532457108	1,404	16,451	SH		OTR		16,451	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	16,058	232,447	SH		OTR	1	224,199	0	2,928
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	6,778	98,114	SH		OTR		98,114	0	0
MCGRATH RENTCORP	COM	580589109	249	3,939	SH		OTR	1	3,939	0	0
MEDIFAST INC	COM	58470H101	6,829	42,640	SH		OTR	1	42,640	0	0
MERCK & CO INC	COM	58933Y105	48	783	SH		OTR		783	0	0
MERCK & CO INC	COM	58933Y105	651	10,730	SH		OTR	1	10,730	0	0
META FINL GROUP INC	COM	59100U108	4,793	49,210	SH		OTR	1	49,210	0	0
MICROCHIP TECHNOLOGY INC	COM	595017104	15,344	168,700	SH		OTR	1	165,610	0	3,090
MICROCHIP TECHNOLOGY INC	COM	595017104	9,345	102,745	SH		OTR		102,745	0	0
MICROSOFT CORP	COM	594918104	14,885	150,950	SH		OTR		150,950	0	0
MICROSOFT CORP	COM	594918104	27,113	274,950	SH		OTR	1	269,495	0	5,455
NAVISTAR INTL CORP NEW	NOTE 4.500%10/1	63934EAQ1	61,767	61,445,000	PRN		OTR	1	61,445,000	0	0
NEW RELIC INC	COM	64829B100	4,517	44,905	SH		OTR	1	44,905	0	0
NEXTERA ENERGY INC	COM	65339F101	12,565	75,225	SH		OTR		75,225	0	0
NEXTERA ENERGY INC	COM	65339F101	20,529	122,910	SH		OTR	1	120,555	0	2,155
NOVARTIS A G	SPONSORED ADR	66987V109	14,782	195,687	SH		OTR		195,687	0	0
NOVARTIS A G	SPONSORED ADR	66987V109	23,046	305,091	SH		OTR	1	297,966	0	7,085
NUTANIX INC	CL A	67059N108	4,701	91,150	SH		OTR	1	91,150	0	0
OSI SYSTEMS INC	NOTE 1.250% 9/0	671044AD7	19,593	20,250,000	PRN		OTR	1	20,250,000	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	7,646	174,005	SH		OTR	1	174,005	0	0
POST HLDGS INC	COM	737446104	8,555	99,452	SH		OTR		99,452	0	0
POST HLDGS INC	COM	737446104	17,960	208,790	SH		OTR	1	205,565	0	3,225
PRA GROUP INC	COM	69354N106	3,413	88,545	SH		OTR	1	88,545	0	0
PROCTER AND GAMBLE CO	COM	742718109	943	12,080	SH		OTR		12,080	0	0
PROCTER AND GAMBLE CO	COM	742718109	1,285	16,459	SH		OTR	1	16,459	0	0
PURE STORAGE INC	CL A	74624M102	6,810	285,195	SH		OTR	1	285,195	0	0
RAPID7 INC	COM	753422104	5,810	205,900	SH		OTR	1	205,900	0	0
RPM INTL INC	COM	749685103	15,306	262,456	SH		OTR		262,456	0	0
RPM INTL INC	COM	749685103	25,077	429,995	SH		OTR	1	422,645	0	7,350
SENDGRID INC	COM	816883102	3,723	140,370	SH		OTR	1	140,370	0	0
SERVICEMASTER GLOBAL HLDGS I	COM	81761R109	12,938	217,551	SH		OTR		217,551	0	0
SERVICEMASTER GLOBAL HLDGS I	COM	81761R109	20,434	343,600	SH		OTR	1	337,645	0	5,455
SITEONE LANDSCAPE SUPPLY INC	COM	82982L103	5,225	62,225	SH		OTR	1	62,225	0	0
SOLARIS OILFIELD INFRSTR INC	COM CL A	83418M103	4,969	347,710	SH		OTR	1	347,710	0	0
SUMMIT MATLS INC	CL A	86614U100	5,786	220,425	SH		OTR	1	220,425	0	0
TABULA RASA HEALTHCARE INC	COM	873379101	4,851	76,000	SH		OTR	1	76,000	0	0
TELADOC INC	COM	87918A105	5,763	99,270	SH		OTR	1	99,270	0	0
TELEFLEX INC	COM	879369106	10,395	38,760	SH		OTR	1	37,982	0	698
TELEFLEX INC	COM	879369106	6,335	23,621	SH		OTR		23,621	0	0
TREX CO INC	COM	89531P105	4,947	79,040	SH		OTR	1	79,040	0	0
TUTOR PERINI CORP	NOTE 2.875% 6/1	901109AD0	6,019	6,010,000	PRN		OTR	1	6,010,000	0	0
UNION PAC CORP	COM	907818108	850	6,000	SH		SOLE		6,000	0	0
UNISYS CORP	NOTE 5.500% 3/0	909214BS6	35,099	23,395,000	PRN		OTR	1	23,395,000	0	0
UNIVAR INC	COM	91336L107	6,832	260,375	SH		OTR		260,375	0	0
UNIVAR INC	COM	91336L107	13,198	502,955	SH		OTR	1	496,675	0	6,280
US FOODS HLDG CORP	COM	912008109	27,277	721,240	SH		OTR	1	709,240	0	12,000
US FOODS HLDG CORP	COM	912008109	15,377	406,593	SH		OTR		406,593	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	294	5,842	SH		OTR	1	0	0	4,000
VICI PPTYS INC	COM	925652109	7,216	349,610	SH		OTR	1	349,610	0	0
VICI PPTYS INC	COM	925652109	2,851	138,110	SH		OTR		138,110	0	0
VISA INC	COM CL A	92826C839	5,855	44,205	SH		OTR		44,205	0	0
VISA INC	COM CL A	92826C839	11,039	83,345	SH		OTR	1	81,640	0	1,305
WASTE CONNECTIONS INC	COM	94106B101	9,294	123,460	SH		OTR		123,460	0	0
WASTE CONNECTIONS INC	COM	94106B101	16,300	216,515	SH		OTR	1	211,070	0	5,445
WEB COM GROUP INC	NOTE 1.000% 8/1	94733AAA2	57,609	57,758,000	PRN		OTR	1	57,758,000	0	0
WELLS FARGO CO NEW	COM	949746101	707	12,755	SH		OTR	1	9,755	0	3,000
ZILLOW GROUP INC	CL A	98954M101	8,272	138,438	SH		OTR	1	138,438	0	0