13F-HR 1 inftable.txt UNITED STATES SECRITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2012 Check here if Amendment [ ] Amendment Number: This Amendment: [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC. Address: 580 CALIFORNIA STREET, SUITE 1900 SAN FRANCISCO, CA 94104 Form 13F File Number: 028-05208 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: SHANNON LEMON Title: CCO Phone: 415-627-0737 Signature, Place, and Date of Signing: /s/ SHANNON S. LEMON SAN FRANCISCO, CA May 9, 2012 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 120 Form 13F Information Table Value Total: 260123 (x$1000) List of Other Included Managers: None FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M Company 88579y101 338 3791 SH Sole 3791 Abbott Labs 002824100 6442 105107 SH Sole 105107 Accenture Ltd Bermuda Cl A 402 6234 SH Sole 6234 Affiliated Managers Group 008252108 2857 25550 SH Sole 25550 Air Prods & Chems Inc 009158106 2527 27525 SH Sole 27525 Altria Group Inc 02209S103 8 258 SH Sole 258 American Express Co 025816109 4681 80909 SH Sole 80909 Amgen Inc 031162100 272 4000 SH Sole 4000 Apple Inc 037833100 5807 9686 SH Sole 9686 AT&T Inc 00206R102 4237 135662 SH Sole 135662 Automatic Data Processing Inc 053015103 237 4300 SH Sole 4300 Baxter Intl Inc 071813109 60 1000 SH Sole 1000 Becton Dickinson & Co 075887109 317 4088 SH Sole 4088 Bemis Inc 081437105 19 590 SH Sole 590 Berkshire Hathaway 084670108 244 2 SH Sole 2 Berkshire Hathaway B 084670207 108 1336 SH Sole 1336 BG Group PLC ADR 055434203 643 27800 SH Sole 27800 BP plc Sponsored ADR 055622104 999 22208 SH Sole 22208 Bristol Myers Squibb 110122108 267 7900 SH Sole 7900 Caterpillar Inc 149123101 565 5300 SH Sole 5300 Chevron Corp 166764100 10340 96445 SH Sole 96445 Cisco Systems 17275r102 3007 142182 SH Sole 142182 Citrix Systems Inc 177376100 3131 39675 SH Sole 39675 Coca Cola Co 191216100 2007 27119 SH Sole 27119 Colgate Palmolive Co 194162103 2 25 SH Sole 25 Conocophillips 20825C104 315 4141 SH Sole 4141 Constant Contact Inc 210313102 298 10000 SH Sole 10000 Convergys Corp 212485106 133 10000 SH Sole 10000 Covidien Plc G2554F113 509 9301 SH Sole 9301 CVS Caremark Corporation 126650100 3843 85775 SH Sole 85775 Danaher Corp 235851102 4645 82950 SH Sole 82950 Deere & Co 244199105 485 6000 SH Sole 6000 Discovery Holding Co. 25470F104 2040 40325 SH Sole 40325 Disney Walt Co 254687106 4927 112543 SH Sole 112543 Dominion Res Inc Va 25746U109 74 1452 SH Sole 1452 eBay Inc 278642103 4299 116500 SH Sole 116500 Ecolab Inc 278865100 2890 46830 SH Sole 46830 EMC Corp. 268648102 193 6466 SH Sole 6466 Emerson Elec Co 291011104 1774 34000 SH Sole 34000 Express Scripts Inc 30219G108 389 7187 SH Sole 7187 Exxon Mobil Corp 30231G102 11002 126850 SH Sole 126850 Fiserv Inc 337738108 1285 18512 SH Sole 18512 Franklin Resources Inc 354613101 124 999 SH Sole 999 General Electric Co. 369604103 5241 261122 SH Sole 261122 General Mls Inc 370334104 225 5709 SH Sole 5709 Google, Inc. 38259p508 4840 7548 SH Sole 7548 Hewlett Packard Co. 428236103 553 23215 SH Sole 23215 Home Depot Inc 437076102 758 15058 SH Sole 15058 Intel Corp 458140100 2830 100670 SH Sole 100670 International Business Machs 459200101 5394 25853 SH Sole 25853 Intuit 461202103 3387 56300 SH Sole 56300 Johnson & Johnson 478160104 6103 92522 SH Sole 92522 Johnson Ctls Inc 478366107 2501 77000 SH Sole 77000 JPMorgan Chase & Co 46625H100 4020 87423 SH Sole 87423 Key Tronic Inc 493144109 612 64600 SH Sole 64600 Kimberly Clark Corp 494368103 36 486 SH Sole 486 Kinder Morgan Energy Partners 494550106 4 50 SH Sole 50 Kohl's Corp. 500255104 148 2950 SH Sole 2950 Kraft Foods Inc Cl A 50075N104 7 174 SH Sole 174 Life Technologies Corp. 53217v109 254 5200 SH Sole 5200 Lowes Cos Inc 548661107 2982 95037 SH Sole 95037 McDonalds Corp 580135101 613 6250 SH Sole 6250 Merck & Co 58933Y105 424 11034 SH Sole 11034 Microsoft Corp 594918104 7438 230603 SH Sole 230603 Monsanto Co 61166W101 1445 18120 SH Sole 18120 Nike Inc Cl B 654106103 69 633 SH Sole 633 Noble Energy, Inc. 655044105 489 5000 SH Sole 5000 Novartis A G Sponsored ADR 66987V109 2398 43270 SH Sole 43270 Omnicom Group Inc 681919106 484 9550 SH Sole 9550 Oracle Corp. 68389x105 3961 135850 SH Sole 135850 Peets Coffee & Tea Inc 705560100 442 6000 SH Sole 6000 Pepsico Inc 713448108 7266 109503 SH Sole 109503 Pfizer Inc 717081103 622 27471 SH Sole 27471 Philip Morris Intl Inc 718172109 15 166 SH Sole 166 PowerShares ETF Dynamic Biotec 73935x856 709 31250 SH Sole 31250 Praxair Inc 74005P104 64 556 SH Sole 556 Procter & Gamble Co 742718109 8702 129478 SH Sole 129478 Qualcomm Inc 747525103 5268 77400 SH Sole 77400 Royal Dutch Shell Plc Spons AD 780259206 798 11375 SH Sole 11375 Sara Lee Corp 803111103 4142 192369 SH Sole 192369 Schlumberger Ltd 806857108 4079 58331 SH Sole 58331 Schwab Charles Corp 808513105 524 36441 SH Sole 36441 Southern Co 842587107 72 1600 SH Sole 1600 State Street Corp 857477103 2335 51325 SH Sole 51325 Stericycle Inc. 858912108 2200 26300 SH Sole 26300 Target Corp 87612E106 2989 51291 SH Sole 51291 TE Connectivity Ltd H84989104 220 6000 SH Sole 6000 Thermo Fisher Scientific 883556102 3070 54457 SH Sole 54457 Travelers Companies Inc 89417E109 3511 59300 SH Sole 59300 True Religion Apparel 89784N104 329 12000 SH Sole 12000 U.S. Bancorp 902973304 375 11844 SH Sole 11844 Union Pacific Corp. 907818108 1064 9904 SH Sole 9904 United Technologies Corp 913017109 2996 36125 SH Sole 36125 Verizon Comm 92343V104 419 10966 SH Sole 10966 Vodafone Grp ADR 92857W209 618 22324 SH Sole 22324 Wal Mart Stores Inc 931142103 885 14467 SH Sole 14467 Weatherford Intl H27013103 851 56400 SH Sole 56400 Wells Fargo & Co 949746101 10777 315659 SH Sole 315659 Zimmer Holdings 98956p102 15 240 SH Sole 240 AQR FDS Divrsf Arbtg I 00203H602 3827 345107 SH Sole 345106.7420 AQR Fds Momntm Fd Cl L 00203H701 4237 271285 SH Sole 271284.7070 Chestnut Str Exch Fd Sh Partsh 166668103 14037 37432 SH Sole 37432.3000 DWS Dreman Small Mid Cap Val V 120 10291 SH Sole 10291.4670 Litman Gregory Master Alt Stra 53700T801 2117 197838 SH Sole 197838.1200 Schwab Invts 1000 Index Inv 808517106 279 6999 SH Sole 6999.2770 Schwab S&P 500 Portfolio 236 10619 SH Sole 10619.3310 Turner Fds Med Sci LS Inst 900297565 1879 183989 SH Sole 183988.8530 Turner Spectrum Fund Instl 900297664 4105 367475 SH Sole 367475.3250 Wells Fargo VT Advantage Oppor 233 18613 SH Sole 18612.5270 iShares Russell 2000 Index Fun 464287655 253 3050 SH Sole 3050 iShares Tr Russell 1000 464287622 8 100 SH Sole 100 Midcap SPDR Tr Ser 1 595635103 205 1135 SH Sole 1135 PowerShares FTSE RAFI US 1000 73935X583 8430 139346 SH Sole 139346 PowerShares QQQ Trust 73935A104 493 7301 SH Sole 7301 SPDR Tr Unit Ser 1 78462F103 1181 8385 SH Sole 8385 Altegris Global Macro Fund, LP 3355 3079412 SH Sole 3079412 Blueline Capital Partners 1600 1600000 SH Sole 1600000 BlueLine Capital Partners II, 250 250000 SH Sole 250000 Hatteras VC Co-Investment Fund 489hvc995 1714 20133 SH Sole 20133 SVB Strategic Investors II 250 250000 SH Sole 250000