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
3M CO	COM	88579Y101	13,653	65,710	SH		OTR	1	65,710	0	0
3M CO	COM	88579Y101	6,102	29,370	SH		OTR		29,370	0	0
ABBOTT LABS	COM	002824100	96	1,200	SH		OTR		1,200	0	0
ABBOTT LABS	COM	002824100	124	1,545	SH		OTR	1	1,545	0	0
ABBVIE INC	COM	00287Y109	97	1,200	SH		OTR		1,200	0	0
ABBVIE INC	COM	00287Y109	122	1,515	SH		OTR	1	1,515	0	0
AIR LEASE CORP	CL A	00912X302	9,399	273,630	SH		OTR		273,630	0	0
AIR LEASE CORP	CL A	00912X302	16,635	484,288	SH		OTR	1	484,103	0	0
ALPHABET INC	CAP STK CL A	02079K305	932	792	SH		OTR		792	0	0
ALPHABET INC	CAP STK CL A	02079K305	3,004	2,552	SH		OTR	1	2,547	0	0
ALPHABET INC	CAP STK CL C	02079K107	21,739	18,528	SH		OTR		18,528	0	0
ALPHABET INC	CAP STK CL C	02079K107	38,177	32,538	SH		OTR	1	32,528	0	0
ALTERYX INC	COM CL A	02156B103	6,967	83,070	SH		OTR	1	83,070	0	0
AMERICAN EXPRESS CO	COM	025816109	587	5,375	SH		SOLE		5,375	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	7,140	68,484	SH		OTR		68,484	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	17,522	168,061	SH		OTR	1	167,926	0	0
AMICUS THERAPEUTICS INC	COM	03152W109	6,240	458,830	SH		OTR	1	458,830	0	0
ANTERO MIDSTREAM CORP	COM	03676B102	13,955	1,012,690	SH		OTR	1	1,012,690	0	0
ANTERO MIDSTREAM CORP	COM	03676B102	7,810	566,763	SH		OTR		566,763	0	0
APPLE INC	COM	037833100	1,794	9,447	SH		OTR	1	9,447	0	0
APPLIED MATLS INC	COM	038222105	6,803	171,525	SH		OTR		171,525	0	0
APPLIED MATLS INC	COM	038222105	11,595	292,365	SH		OTR	1	292,365	0	0
AUDENTES THERAPEUTICS INC	COM	05070R104	4,937	126,515	SH		OTR	1	126,515	0	0
AVALARA INC	COM	05338G106	10,982	196,840	SH		OTR	1	196,840	0	0
AXOS FINL INC	COM	05465C100	5,923	204,535	SH		OTR	1	204,535	0	0
BERKLEY W R CORP	COM	084423102	212	2,497	SH		OTR	1	2,497	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	1,807	6	SH		OTR		4	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	301	1	SH		OTR	1	0	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	5,429	27,025	SH		OTR		26,650	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	12,353	61,489	SH		OTR	1	60,227	0	0
BIO TECHNE CORP	COM	09073M104	8,922	44,935	SH		OTR	1	44,935	0	0
BIOTELEMETRY INC	COM	090672106	6,420	102,530	SH		OTR	1	102,530	0	0
BLUE BIRD CORP	COM	095306106	40,446	2,389,008	SH		OTR	1	2,389,008	0	0
BOEING CO	COM	097023105	10,278	26,946	SH		OTR		26,946	0	0
BOEING CO	COM	097023105	20,405	53,498	SH		OTR	1	53,498	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	507	10,617	SH		OTR		10,617	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	127	2,672	SH		OTR	1	2,672	0	0
BROADRIDGE FINL SOLUTIONS IN	COM	11133T103	8,733	84,225	SH		OTR	1	84,225	0	0
BROADRIDGE FINL SOLUTIONS IN	COM	11133T103	5,218	50,325	SH		OTR		50,325	0	0
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	34,605	741,795	SH		OTR	1	740,795	0	0
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	18,222	390,604	SH		OTR		390,604	0	0
CARE COM INC	COM	141633107	4,998	252,915	SH		OTR	1	252,915	0	0
CAREDX INC	COM	14167L103	3,792	120,290	SH		OTR	1	120,290	0	0
CEMEX SAB DE CV	NOTE 3.720% 3/1	151290BT9	50,494	50,900,000	PRN		OTR	1	50,900,000	0	0
CHARTER COMMUNICATIONS INC N	CL A	16119P108	11,144	32,124	SH		OTR		32,124	0	0
CHARTER COMMUNICATIONS INC N	CL A	16119P108	18,273	52,674	SH		OTR	1	52,633	0	0
CHEVRON CORP NEW	COM	166764100	399	3,237	SH		OTR	1	450	0	0
CHEVRON CORP NEW	COM	166764100	57	465	SH		OTR		465	0	0
CLEVELAND CLIFFS INC	DBCV 1.500% 1/1	185899AA9	6,827	5,000,000	PRN		OTR	1	5,000,000	0	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	10,421	143,840	SH		OTR	1	143,840	0	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	4,995	68,945	SH		OTR		68,945	0	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	11,336	88,559	SH		OTR		88,559	0	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	20,052	156,655	SH		OTR	1	156,655	0	0
DANAHER CORPORATION	COM	235851102	12,978	98,301	SH		OTR		98,301	0	0
DANAHER CORPORATION	COM	235851102	24,997	189,340	SH		OTR	1	189,340	0	0
DIGITAL RLTY TR INC	COM	253868103	8,257	69,390	SH		OTR		69,390	0	0
DIGITAL RLTY TR INC	COM	253868103	16,062	134,975	SH		OTR	1	134,975	0	0
DOLLAR GEN CORP NEW	COM	256677105	7,198	60,335	SH		OTR		60,335	0	0
DOLLAR GEN CORP NEW	COM	256677105	13,607	114,055	SH		OTR	1	114,055	0	0
EHEALTH INC	COM	28238P109	3,403	54,585	SH		OTR	1	54,585	0	0
ELECTRONICS FOR IMAGING INC	NOTE 0.750% 9/0	286082AC6	27,082	27,484,000	PRN		OTR	1	27,484,000	0	0
ENOVA INTL INC	COM	29357K103	11,947	523,545	SH		OTR	1	523,545	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	13,405	460,663	SH		OTR		460,663	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	20,309	697,908	SH		OTR	1	697,748	0	0
ETSY INC	COM	29786A106	10,776	160,305	SH		OTR	1	160,305	0	0
EXXON MOBIL CORP	COM	30231G102	871	10,776	SH		OTR		10,776	0	0
EXXON MOBIL CORP	COM	30231G102	1,061	13,125	SH		OTR	1	7,403	0	0
EZCORP INC	NOTE 2.125% 6/1	302301AB2	59,855	60,035,000	PRN		OTR	1	60,035,000	0	0
EZCORP INC	NOTE 2.875% 7/0	302301AF3	18,870	16,835,000	PRN		OTR	1	16,835,000	0	0
FEDEX CORP	COM	31428X106	12,401	68,360	SH		OTR	1	68,360	0	0
FEDEX CORP	COM	31428X106	6,592	36,335	SH		OTR		36,335	0	0
FIRST REP BK SAN FRANCISCO C	COM	33616C100	1,692	16,840	SH		OTR		16,840	0	0
FIRST REP BK SAN FRANCISCO C	COM	33616C100	96	952	SH		OTR	1	952	0	0
FLOOR & DECOR HLDGS INC	CL A	339750101	3,665	88,915	SH		OTR	1	88,915	0	0
FUNKO INC	COM CL A	361008105	6,519	300,155	SH		OTR	1	300,155	0	0
HANNON ARMSTRONG SUST INFR C	COM	41068X100	1,806	70,432	SH		OTR		70,432	0	0
HANNON ARMSTRONG SUST INFR C	COM	41068X100	5,968	232,765	SH		OTR	1	232,765	0	0
HOLOGIC INC	COM	436440101	13,147	271,640	SH		OTR	1	271,640	0	0
HOLOGIC INC	COM	436440101	7,165	148,030	SH		OTR		148,030	0	0
HORIZON GLOBAL CORP	NOTE 2.750% 7/0	44052WAA2	22,172	36,321,000	PRN		OTR	1	36,321,000	0	0
INSPIRE MED SYS INC	COM	457730109	3,123	54,997	SH		OTR	1	54,997	0	0
INSULET CORP	COM	45784P101	7,294	76,710	SH		OTR	1	76,710	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	292	2,064	SH		OTR	1	601	0	0
INTERNATIONAL FLAVORS&FRAGRA	COM	459506101	7	58	SH		OTR	1	58	0	0
INTERSECT ENT INC	COM	46071F103	4,025	125,190	SH		OTR	1	125,190	0	0
IOVANCE BIOTHERAPEUTICS INC	COM	462260100	3,699	388,995	SH		OTR	1	388,995	0	0
ISHARES TR	CORE 1 5 YR USD	46432F859	268	5,370	PRN		OTR	1	5,370	0	0
JOHNSON & JOHNSON	COM	478160104	6,435	46,033	SH		OTR		46,033	0	0
JOHNSON & JOHNSON	COM	478160104	13,187	94,331	SH		OTR	1	91,076	0	0
KODIAK SCIENCES INC	COM	50015M109	1,387	212,470	SH		OTR		212,470	0	0
KODIAK SCIENCES INC	COM	50015M109	749	114,743	SH		OTR	1	114,743	0	0
LENDINGTREE INC NEW	COM	52603B107	2,468	7,020	SH		OTR	1	7,020	0	0
LILLY ELI & CO	COM	532457108	2,135	16,451	SH		OTR		16,451	0	0
LILLY ELI & CO	COM	532457108	933	7,188	SH		OTR	1	7,188	0	0
LIVERAMP HLDGS INC	COM	53815P108	1,143	20,950	SH		OTR	1	20,950	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	12,575	207,407	SH		OTR	1	203,322	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	4,693	77,407	SH		OTR		77,407	0	0
MCGRATH RENTCORP	COM	580589109	223	3,939	SH		OTR	1	3,939	0	0
MEDIFAST INC	COM	58470H101	3,466	27,175	SH		OTR	1	27,175	0	0
MERCK & CO INC	COM	58933Y105	65	783	SH		OTR		783	0	0
MERCK & CO INC	COM	58933Y105	914	10,995	SH		OTR	1	10,730	0	0
MICRON TECHNOLOGY INC	COM	595112103	4,303	104,115	SH		OTR		104,115	0	0
MICRON TECHNOLOGY INC	COM	595112103	8,179	197,895	SH		OTR	1	197,895	0	0
MICROSOFT CORP	COM	594918104	14,045	119,085	SH		OTR		119,085	0	0
MICROSOFT CORP	COM	594918104	28,450	241,220	SH		OTR	1	239,882	0	0
MONOLITHIC PWR SYS INC	COM	609839105	10,364	76,495	SH		OTR	1	76,495	0	0
MONOLITHIC PWR SYS INC	COM	609839105	6,172	45,555	SH		OTR		45,555	0	0
NAVISTAR INTL CORP NEW	NOTE 4.750% 4/1	63934EAS7	89,531	89,419,000	PRN		OTR	1	89,419,000	0	0
NEW RELIC INC	COM	64829B100	6,963	70,550	SH		OTR	1	70,550	0	0
NEW YORK TIMES CO	CL A	650111107	1,234	37,575	SH		OTR	1	37,575	0	0
NEXTERA ENERGY INC	COM	65339F101	12,412	64,205	SH		OTR		64,205	0	0
NEXTERA ENERGY INC	COM	65339F101	22,296	115,332	SH		OTR	1	115,332	0	0
NOVARTIS A G	SPONSORED ADR	66987V109	10,141	105,482	SH		OTR		105,482	0	0
NOVARTIS A G	SPONSORED ADR	66987V109	19,179	199,491	SH		OTR	1	199,451	0	0
NVIDIA CORP	COM	67066G104	7,795	43,410	SH		OTR		43,410	0	0
NVIDIA CORP	COM	67066G104	14,268	79,460	SH		OTR	1	79,460	0	0
OLD DOMINION FREIGHT LINE IN	COM	679580100	3,286	22,755	SH		OTR		22,755	0	0
OLD DOMINION FREIGHT LINE IN	COM	679580100	6,691	46,340	SH		OTR	1	46,340	0	0
OSI SYSTEMS INC	NOTE 1.250% 9/0	671044AD7	20,478	20,250,000	PRN		OTR	1	20,250,000	0	0
PAYLOCITY HLDG CORP	COM	70438V106	707	7,930	SH		OTR	1	7,930	0	0
PIMCO ETF TR	0-5 HIGH YIELD	72201R783	623	6,215	PRN		OTR	1	6,215	0	0
PLANET FITNESS INC	CL A	72703H101	14,346	208,760	SH		OTR	1	208,760	0	0
PROCTER AND GAMBLE CO	COM	742718109	1,172	11,260	SH		OTR		11,260	0	0
PROCTER AND GAMBLE CO	COM	742718109	1,707	16,408	SH		OTR	1	16,408	0	0
QUINSTREET INC	COM	74874Q100	7,345	548,561	SH		OTR	1	548,561	0	0
RAMBUS INC DEL	NOTE 1.375% 2/0	750917AG1	4,666	5,000,000	PRN		OTR	1	5,000,000	0	0
RAPID7 INC	COM	753422104	10,336	204,230	SH		OTR	1	204,230	0	0
SERVICEMASTER GLOBAL HLDGS I	COM	81761R109	14,602	312,685	SH		OTR	1	312,685	0	0
SERVICEMASTER GLOBAL HLDGS I	COM	81761R109	8,364	179,091	SH		OTR		179,091	0	0
SKYLINE CHAMPION CORPORATION	COM	830830105	5,909	311,000	SH		OTR	1	311,000	0	0
SYNOPSYS INC	COM	871607107	7,264	63,085	SH		OTR		63,085	0	0
SYNOPSYS INC	COM	871607107	12,193	105,885	SH		OTR	1	105,885	0	0
TABULA RASA HEALTHCARE INC	COM	873379101	6,145	108,910	SH		OTR	1	108,910	0	0
TELADOC HEALTH INC	COM	87918A105	8,304	149,360	SH		OTR	1	149,360	0	0
TELEFLEX INC	COM	879369106	13,643	45,152	SH		OTR	1	45,072	0	0
TELEFLEX INC	COM	879369106	7,249	23,990	SH		OTR		23,990	0	0
TREX CO INC	COM	89531P105	4,666	75,845	SH		OTR	1	75,845	0	0
TUTOR PERINI CORP	NOTE 2.875% 6/1	901109AD0	5,745	6,010,000	PRN		OTR	1	6,010,000	0	0
TWILIO INC	CL A	90138F102	10,248	79,332	SH		OTR	1	79,332	0	0
TWITTER INC	NOTE 0.250% 9/1	90184LAB8	82,563	83,957,000	PRN		OTR	1	83,957,000	0	0
UNILEVER N V	N Y SHS NEW	904784709	16,107	276,325	SH		OTR	1	276,325	0	0
UNILEVER N V	N Y SHS NEW	904784709	8,815	151,225	SH		SOLE		151,225	0	0
UNION PACIFIC CORP	COM	907818108	1,003	6,000	SH		OTR		6,000	0	0
UNION PACIFIC CORP	COM	907818108	516	3,084	SH		OTR	1	0	0	0
UNISYS CORP	NOTE 5.500% 3/0	909214BS6	16,667	11,916,000	PRN		OTR	1	11,916,000	0	0
US FOODS HLDG CORP	COM	912008109	11,741	336,333	SH		OTR		336,333	0	0
US FOODS HLDG CORP	COM	912008109	22,824	653,800	SH		OTR	1	653,800	0	0
VERICEL CORP	COM	92346J108	5,334	304,645	SH		OTR	1	304,645	0	0
VICI PPTYS INC	COM	925652109	5,662	258,775	SH		OTR		258,775	0	0
VICI PPTYS INC	COM	925652109	7,253	331,510	SH		OTR	1	331,510	0	0
VISA INC	COM CL A	92826C839	8,286	53,050	SH		OTR		53,050	0	0
VISA INC	COM CL A	92826C839	16,244	104,005	SH		OTR	1	103,605	0	0
WALGREENS BOOTS ALLIANCE INC	COM	931427108	774	12,230	SH		OTR	1	2,134	0	0
WASTE CONNECTIONS INC	COM	94106B101	11,179	126,190	SH		OTR		126,190	0	0
WASTE CONNECTIONS INC	COM	94106B101	21,760	245,625	SH		OTR	1	245,625	0	0
WELLS FARGO CO NEW	COM	949746101	522	10,807	SH		OTR	1	9,755	0	0