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
ADOBE INC	COM	00724F101	220	745	SH		OTR	1	745	0	0
AIR LEASE CORP	CL A	00912X302	10,540	254,955	SH		OTR		254,955	0	0
AIR LEASE CORP	CL A	00912X302	18,268	441,899	SH		OTR	1	441,899	0	0
ALLOGENE THERAPEUTICS INC	COM	019770106	303	11,283	SH		OTR	1	11,283	0	0
ALPHABET INC	CAP STK CL A	02079K305	657	607	SH		OTR		607	0	0
ALPHABET INC	CAP STK CL A	02079K305	2,717	2,509	SH		OTR	1	2,509	0	0
ALPHABET INC	CAP STK CL C	02079K107	18,413	17,035	SH		OTR		17,035	0	0
ALPHABET INC	CAP STK CL C	02079K107	33,935	31,395	SH		OTR	1	31,395	0	0
ALTAIR ENGR INC	NOTE 0.250% 6/0	021369AA1	14,082	13,000,000	PRN		OTR	1	13,000,000	0	0
ALTERYX INC	COM CL A	02156B103	6,781	62,140	SH		OTR	1	62,140	0	0
AMERICAN EXPRESS CO	COM	025816109	221	1,792	SH		OTR	1	1,792	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	7,054	60,813	SH		OTR		60,813	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	19,237	165,836	SH		OTR	1	165,836	0	0
AMICUS THERAPEUTICS INC	COM	03152W109	5,052	404,780	SH		OTR	1	404,780	0	0
ANTERO MIDSTREAM CORP	COM	03676B102	1,032	90,067	SH		OTR		90,067	0	0
ANTERO MIDSTREAM CORP	COM	03676B102	390	34,000	SH		OTR	1	34,000	0	0
APPLE INC	COM	037833100	1,527	7,717	SH		OTR	1	7,717	0	0
APPLIED MATLS INC	COM	038222105	7,413	165,060	SH		OTR		165,060	0	0
APPLIED MATLS INC	COM	038222105	12,839	285,876	SH		OTR	1	285,876	0	0
AUDENTES THERAPEUTICS INC	COM	05070R104	3,278	86,585	SH		OTR	1	86,585	0	0
AVALARA INC	COM	05338G106	4,645	64,340	SH		OTR	1	64,340	0	0
AXOS FINL INC	COM	05465C100	3,424	125,655	SH		OTR	1	125,655	0	0
BERKLEY W R CORP	COM	084423102	247	3,745	SH		OTR	1	3,745	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	1,910	6	SH		OTR		6	0	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	318	1	SH		OTR	1	1	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	14,208	66,650	SH		OTR	1	66,650	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	6,003	28,160	SH		OTR		28,160	0	0
BIO TECHNE CORP	COM	09073M104	3,150	15,110	SH		OTR	1	15,110	0	0
BLUE BIRD CORP	COM	095306106	33,727	1,712,911	SH		OTR	1	1,712,911	0	0
BOEING CO	COM	097023105	9,432	25,911	SH		OTR		25,911	0	0
BOEING CO	COM	097023105	18,722	51,434	SH		OTR	1	51,434	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	281	6,209	SH		OTR	1	6,209	0	0
BROADRIDGE FINL SOLUTIONS IN	COM	11133T103	6,146	48,135	SH		OTR		48,135	0	0
BROADRIDGE FINL SOLUTIONS IN	COM	11133T103	10,588	82,928	SH		OTR	1	82,928	0	0
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	17,832	373,204	SH		OTR		373,204	0	0
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	34,268	717,207	SH		OTR	1	717,207	0	0
CAREDX INC	COM	14167L103	3,577	99,385	SH		OTR	1	99,385	0	0
CEMEX SAB DE CV	NOTE 3.720% 3/1	151290BR3	19,241	19,300,000	PRN		OTR	1	19,300,000	0	0
CEMEX SAB DE CV	NOTE 3.720% 3/1	151290BT9	54,657	54,825,000	PRN		OTR	1	54,825,000	0	0
CHARTER COMMUNICATIONS INC N	CL A	16119P108	12,265	31,037	SH		OTR		31,037	0	0
CHARTER COMMUNICATIONS INC N	CL A	16119P108	19,929	50,431	SH		OTR	1	50,431	0	0
CHEVRON CORP NEW	COM	166764100	58	465	SH		OTR		465	0	0
CHEVRON CORP NEW	COM	166764100	403	3,237	SH		OTR	1	3,237	0	0
CLEVELAND CLIFFS INC	DBCV 1.500% 1/1	185899AA9	3,608	2,500,000	PRN		OTR	1	2,500,000	0	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	9,491	149,719	SH		OTR	1	149,719	0	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	4,725	74,545	SH		OTR		74,545	0	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	8,126	62,341	SH		OTR		62,341	0	0
CROWN CASTLE INTL CORP NEW	COM	22822V101	14,511	111,322	SH		OTR	1	111,322	0	0
DANAHER CORPORATION	COM	235851102	12,792	89,505	SH		OTR		89,505	0	0
DANAHER CORPORATION	COM	235851102	24,350	170,375	SH		OTR	1	170,375	0	0
DIGITAL RLTY TR INC	COM	253868103	8,828	74,945	SH		OTR		74,945	0	0
DIGITAL RLTY TR INC	COM	253868103	18,487	156,947	SH		OTR	1	156,947	0	0
DISNEY WALT CO	COM DISNEY	254687106	232	1,661	SH		OTR	1	1,661	0	0
DOLLAR GEN CORP NEW	COM	256677105	7,803	57,735	SH		OTR		57,735	0	0
DOLLAR GEN CORP NEW	COM	256677105	15,243	112,777	SH		OTR	1	112,777	0	0
EHEALTH INC	COM	28238P109	6,290	73,055	SH		OTR	1	73,055	0	0
ELECTRONICS FOR IMAGING INC	NOTE 0.750% 9/0	286082AC6	45,337	45,590,000	PRN		OTR	1	45,590,000	0	0
ENOVA INTL INC	COM	29357K103	8,433	365,850	SH		OTR	1	365,850	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	12,853	445,218	SH		OTR		445,218	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	19,853	687,686	SH		OTR	1	687,686	0	0
ETSY INC	COM	29786A106	5,816	94,770	SH		OTR	1	94,770	0	0
EXXON MOBIL CORP	COM	30231G102	496	6,471	SH		OTR		6,471	0	0
EXXON MOBIL CORP	COM	30231G102	1,127	14,711	SH		OTR	1	14,711	0	0
EZCORP INC	NOTE 2.375% 5/0	302301AE6	9,022	10,000,000	PRN		OTR	1	10,000,000	0	0
EZCORP INC	NOTE 2.875% 7/0	302301AF3	19,097	16,835,000	PRN		OTR	1	16,835,000	0	0
FEDEX CORP	COM	31428X106	3,942	24,010	SH		OTR		24,010	0	0
FEDEX CORP	COM	31428X106	6,901	42,028	SH		OTR	1	42,028	0	0
FIREEYE INC	COM	31816Q101	5,234	353,410	SH		OTR		353,410	0	0
FIREEYE INC	COM	31816Q101	9,938	671,010	SH		OTR	1	671,010	0	0
FIRST REP BK SAN FRANCISCO C	COM	33616C100	1,644	16,840	SH		OTR		16,840	0	0
FIRST REP BK SAN FRANCISCO C	COM	33616C100	93	952	SH		OTR	1	952	0	0
FLOOR & DECOR HLDGS INC	CL A	339750101	2,810	67,055	SH		OTR	1	67,055	0	0
FUNKO INC	COM CL A	361008105	3,430	141,600	SH		OTR	1	141,600	0	0
HANNON ARMSTRONG SUST INFR C	COM	41068X100	1,820	64,575	SH		OTR		64,575	0	0
HANNON ARMSTRONG SUST INFR C	COM	41068X100	6,120	217,169	SH		OTR	1	217,169	0	0
HOLOGIC INC	COM	436440101	13,278	276,500	SH		OTR	1	276,500	0	0
HOLOGIC INC	COM	436440101	7,027	146,340	SH		OTR		146,340	0	0
HORIZON GLOBAL CORP	NOTE 2.750% 7/0	44052WAA2	22,127	36,321,000	PRN		OTR	1	36,321,000	0	0
INSPIRE MED SYS INC	COM	457730109	3,304	54,476	SH		OTR	1	54,476	0	0
INSULET CORP	COM	45784P101	5,594	46,860	SH		OTR	1	46,860	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	284	2,064	SH		OTR	1	2,064	0	0
INTERNATIONAL FLAVORS&FRAGRA	COM	459506101	8	58	SH		OTR	1	58	0	0
IOVANCE BIOTHERAPEUTICS INC	COM	462260100	3,565	145,380	SH		OTR	1	145,380	0	0
ISHARES TR	CORE 1 5 YR USD	46432F859	316	6,260	PRN		OTR	1	6,260	0	0
JOHNSON & JOHNSON	COM	478160104	6,155	44,188	SH		OTR		44,188	0	0
JOHNSON & JOHNSON	COM	478160104	12,859	92,319	SH		OTR	1	92,319	0	0
KODIAK SCIENCES INC	COM	50015M109	2,486	212,470	SH		SOLE		212,470	0	0
LENDINGTREE INC NEW	COM	52603B107	2,025	4,820	SH		OTR	1	4,820	0	0
LILLY ELI & CO	COM	532457108	1,823	16,451	SH		OTR		16,451	0	0
LILLY ELI & CO	COM	532457108	796	7,188	SH		OTR	1	7,188	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	4,528	70,748	SH		OTR		70,748	0	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	13,073	204,264	SH		OTR	1	204,264	0	0
MARKER THERAPEUTICS INC	COM	57055L107	945	119,333	SH		OTR	1	119,333	0	0
MCGRATH RENTCORP	COM	580589109	245	3,939	SH		OTR	1	3,939	0	0
MEDIFAST INC	COM	58470H101	1,833	14,290	SH		OTR	1	14,290	0	0
MERCK & CO INC	COM	58933Y105	66	783	SH		OTR		783	0	0
MERCK & CO INC	COM	58933Y105	922	10,995	SH		OTR	1	10,995	0	0
META FINL GROUP INC	COM	59100U108	3,545	126,370	SH		OTR	1	126,370	0	0
MICRON TECHNOLOGY INC	COM	595112103	3,982	103,180	SH		OTR		103,180	0	0
MICRON TECHNOLOGY INC	COM	595112103	7,873	204,022	SH		OTR	1	204,022	0	0
MICROSOFT CORP	COM	594918104	31,136	232,429	SH		OTR	1	232,429	0	0
MICROSOFT CORP	COM	594918104	15,249	113,835	SH		OTR		113,835	0	0
MONOLITHIC PWR SYS INC	COM	609839105	5,925	43,640	SH		OTR		43,640	0	0
MONOLITHIC PWR SYS INC	COM	609839105	10,056	74,063	SH		OTR	1	74,063	0	0
NEKTAR THERAPEUTICS	COM	640268108	2,652	74,545	SH		OTR		74,545	0	0
NEKTAR THERAPEUTICS	COM	640268108	5,186	145,745	SH		OTR	1	145,745	0	0
NEW RELIC INC	COM	64829B100	2,191	25,325	SH		OTR	1	25,325	0	0
NEXTERA ENERGY INC	COM	65339F101	12,630	61,653	SH		OTR		61,653	0	0
NEXTERA ENERGY INC	COM	65339F101	22,940	111,977	SH		OTR	1	111,977	0	0
NOVARTIS A G	SPONSORED ADR	66987V109	9,383	102,759	SH		OTR		102,759	0	0
NOVARTIS A G	SPONSORED ADR	66987V109	18,580	203,486	SH		OTR	1	203,486	0	0
OLD DOMINION FREIGHT LINE IN	COM	679580100	5,132	34,385	SH		OTR		34,385	0	0
OLD DOMINION FREIGHT LINE IN	COM	679580100	10,373	69,496	SH		OTR	1	69,496	0	0
OSI SYSTEMS INC	NOTE 1.250% 9/0	671044AD7	24,000	20,250,000	PRN		OTR	1	20,250,000	0	0
PAYLOCITY HLDG CORP	COM	70438V106	3,536	37,685	SH		OTR	1	37,685	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	6,392	88,240	SH		OTR	1	88,240	0	0
PROCTER AND GAMBLE CO	COM	742718109	925	8,435	SH		OTR		8,435	0	0
PROCTER AND GAMBLE CO	COM	742718109	1,851	16,879	SH		OTR	1	16,879	0	0
QUINSTREET INC	COM	74874Q100	6,042	381,193	SH		OTR	1	381,193	0	0
RAMBUS INC DEL	NOTE 1.375% 2/0	750917AG1	4,904	5,000,000	PRN		OTR	1	5,000,000	0	0
RAPID7 INC	COM	753422104	6,707	115,955	SH		OTR	1	115,955	0	0
SERVICEMASTER GLOBAL HLDGS I	COM	81761R109	8,007	153,713	SH		SOLE		153,713	0	0
SERVICEMASTER GLOBAL HLDGS I	COM	81761R109	14,495	278,268	SH		OTR	1	278,268	0	0
SKYLINE CHAMPION CORPORATION	COM	830830105	3,599	131,435	SH		OTR	1	131,435	0	0
SYNOPSYS INC	COM	871607107	6,261	48,655	SH		OTR		48,655	0	0
SYNOPSYS INC	COM	871607107	11,411	88,671	SH		OTR	1	88,671	0	0
TABULA RASA HEALTHCARE INC	COM	873379101	6,014	120,445	SH		OTR	1	120,445	0	0
TELADOC HEALTH INC	COM	87918A105	4,928	74,210	SH		OTR	1	74,210	0	0
TELEFLEX INC	COM	879369106	14,446	43,624	SH		OTR	1	43,624	0	0
TELEFLEX INC	COM	879369106	7,633	23,051	SH		OTR		23,051	0	0
TREX CO INC	COM	89531P105	5,035	70,220	SH		OTR	1	70,220	0	0
TUTOR PERINI CORP	NOTE 2.875% 6/1	901109AD0	5,696	6,010,000	PRN		OTR	1	6,010,000	0	0
TWILIO INC	CL A	90138F102	3,183	23,341	SH		OTR	1	23,341	0	0
TWITTER INC	NOTE 0.250% 9/1	90184LAB8	121,167	121,881,000	PRN		OTR	1	121,881,000	0	0
UNILEVER N V	N Y SHS NEW	904784709	8,878	146,210	SH		OTR		146,210	0	0
UNILEVER N V	N Y SHS NEW	904784709	17,017	280,260	SH		OTR	1	280,260	0	0
UNION PACIFIC CORP	COM	907818108	860	5,083	SH		OTR	1	5,083	0	0
UNISYS CORP	NOTE 5.500% 3/0	909214BS6	14,551	11,916,000	PRN		OTR	1	11,916,000	0	0
US FOODS HLDG CORP	COM	912008109	6,699	187,345	SH		OTR		187,345	0	0
US FOODS HLDG CORP	COM	912008109	13,484	377,064	SH		OTR	1	377,064	0	0
VERICEL CORP	COM	92346J108	5,159	273,130	SH		OTR	1	273,130	0	0
VICI PPTYS INC	COM	925652109	5,630	255,455	SH		OTR		255,455	0	0
VICI PPTYS INC	COM	925652109	7,364	334,117	SH		OTR	1	334,117	0	0
VISA INC	COM CL A	92826C839	8,839	50,930	SH		OTR		50,930	0	0
VISA INC	COM CL A	92826C839	17,483	100,738	SH		OTR	1	100,738	0	0
WALGREENS BOOTS ALLIANCE INC	COM	931427108	669	12,230	SH		OTR	1	12,230	0	0
WASTE CONNECTIONS INC	COM	94106B101	11,508	120,405	SH		OTR		120,405	0	0
WASTE CONNECTIONS INC	COM	94106B101	22,653	237,010	SH		OTR	1	237,010	0	0
WELLS FARGO CO NEW	COM	949746101	515	10,866	SH		OTR	1	10,866	0	0