-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Heeso6A4rPveaLFN+W/ccpkmja9IabANbnOpQg30HJMZZgxBx8BaXMxASrTYeTQB U0W03jd2WbEp/cwbCY76Ww== 0001085146-08-000600.txt : 20080507 0001085146-08-000600.hdr.sgml : 20080507 20080506201114 ACCESSION NUMBER: 0001085146-08-000600 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080331 FILED AS OF DATE: 20080507 DATE AS OF CHANGE: 20080506 EFFECTIVENESS DATE: 20080507 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OSTERWEIS CAPITAL MANAGEMENT INC CENTRAL INDEX KEY: 0001007524 IRS NUMBER: 942871718 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-04483 FILM NUMBER: 08807920 BUSINESS ADDRESS: STREET 1: ONE MARITIME PLAZA STREET 2: STE 2101 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 4154344441 MAIL ADDRESS: STREET 1: ONE MARITIME PLAZA STREET 2: STE 1201 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 13F-HR 1 ostm1q08.txt OSTERWEIS CAPITAL MANAGEMENT INC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2008 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Osterweis Capital Management, Inc. Address: One Maritime Plaza, Suite 800 San Francisco, CA 94111 13F File Number: 28-04483 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: John Tavernetti Title: Chief Compliance Officer Phone: 415-434-4441 Signature, Place, and Date of Signing: /s/ John Tavernetti San Francisco, CA May 06, 2008 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form13F Information Table Entry Total: 184 Form13F Information Table Value Total: $2,275,092 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. No. 13F File Number Name 01 28-05660 Osterweis Capital Management, LLC. 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 CO COM 88579Y101 1849 23754 SH OTHER 01 23754 0 0 3M CO COM 88579Y101 743 9550 SH OTHER 9550 0 0 ABBOTT LABS COM 002824100 1500 28000 SH OTHER 28000 0 0 ABBOTT LABS COM 002824100 575 10733 SH OTHER 01 10733 0 0 ADAPTEC INC NOTE 0.750%12/2 00651FAG3 4944 5150000 PRN OTHER 01 5150000 0 0 AFLAC INC COM 001055102 423 6300 SH OTHER 01 6300 0 0 ALLIANCE HOLDINGS GP LP COM UNITS LP 01861G100 250 10000 SH OTHER 01 6000 0 4000 AMERICAN EXPRESS CO COM 025816109 325 6325 SH OTHER 6325 0 0 AMERICAN EXPRESS CO COM 025816109 144 2800 SH OTHER 01 2800 0 0 AMERICAN INTL GROUP INC COM 026874107 2569 53350 SH OTHER 01 53350 0 0 ANADARKO PETE CORP COM 032511107 499 7675 SH OTHER 01 7675 0 0 ANHEUSER BUSCH COS INC COM 035229103 22113 445025 SH OTHER 441925 0 3100 ANHEUSER BUSCH COS INC COM 035229103 57991 1167050 SH OTHER 01 1167050 0 0 APTARGROUP INC COM 038336103 559 12572 SH OTHER 01 12572 0 0 AT&T INC COM 00206R102 19325 483850 SH OTHER 480925 0 2925 AT&T INC COM 00206R102 54242 1358095 SH OTHER 01 1358095 0 0 BARE ESCENTUALS INC COM 067511105 447 18827 SH OTHER 18827 0 0 BARE ESCENTUALS INC COM 067511105 223 9394 SH OTHER 01 0 0 9394 BASIN WTR INC COM 07011T306 137 32440 SH SOLE 32440 0 0 BECTON DICKINSON & CO COM 075887109 402 4500 SH OTHER 01 4500 0 0 BERKLEY W R CORP COM 084423102 282 10630 SH OTHER 01 10630 0 0 BERKSHIRE HATHAWAY INC DEL CL A 084670108 670 5 SH SOLE 5 0 0 BOYD GAMING CORP COM 103304101 7640 408757 SH OTHER 405307 0 3450 BOYD GAMING CORP COM 103304101 28200 1508826 SH OTHER 01 1504326 0 4500 BP PLC SPONSORED ADR 055622104 279 3880 SH OTHER 01 3880 0 0 BRISTOL MYERS SQUIBB CO COM 110122108 766 33394 SH OTHER 33394 0 0 BRISTOL MYERS SQUIBB CO COM 110122108 398 17340 SH OTHER 01 17340 0 0 CALUMET SPECIALTY PRODS PTNR UT LTD PARTNER 131476103 10768 797032 SH OTHER 791682 0 5350 CALUMET SPECIALTY PRODS PTNR UT LTD PARTNER 131476103 9118 674893 SH OTHER 01 672893 0 2000 CANADIAN NAT RES LTD COM 136385101 374 4500 SH OTHER 01 4500 0 0 CARROLS RESTAURANT GROUP INC COM 14574X104 5444 664742 SH OTHER 664742 0 0 CARROLS RESTAURANT GROUP INC COM 14574X104 4614 563408 SH OTHER 01 563408 0 0 CBS CORP NEW CL B 124857202 1381 57437 SH OTHER 01 57437 0 0 CBS CORP NEW CL B 124857202 2181 90706 SH OTHER 90706 0 0 CELGENE CORP COM 151020104 251 3950 SH OTHER 3950 0 0 CHARLES RIV LABS INTL INC COM 159864107 44600 766583 SH OTHER 01 766333 0 250 CHARLES RIV LABS INTL INC COM 159864107 17894 307567 SH OTHER 306117 0 1450 CHEVRON CORP NEW COM 166764100 735 7739 SH OTHER 7739 0 0 CHEVRON CORP NEW COM 166764100 3399 35800 SH OTHER 01 35800 0 0 CLOROX CO DEL COM 189054109 536 9200 SH OTHER 01 9200 0 0 COCA COLA CO COM 191216100 507 8580 SH OTHER 8580 0 0 COCA COLA CO COM 191216100 661 11190 SH OTHER 01 11190 0 0 COLLEGIATE PACIFIC INC NOTE 5.750%12/0 194589AB3 832 875000 PRN OTHER 875000 0 0 COLLEGIATE PACIFIC INC NOTE 5.750%12/0 194589AB3 4166 4380000 PRN OTHER 01 4380000 0 0 COMCAST CORP NEW CL A 20030N101 206 9247 SH OTHER 01 9247 0 0 CONOCOPHILLIPS COM 20825C104 864 9972 SH OTHER 01 9972 0 0 CONSTELLATION ENERGY GROUP I COM 210371100 43684 513925 SH OTHER 01 508025 0 5900 CONSTELLATION ENERGY GROUP I COM 210371100 17621 207300 SH OTHER 206175 0 1125 CREDENCE SYS CORP NOTE 1.500% 5/1 225302AF5 1554 1558000 PRN OTHER 01 1558000 0 0 CROWN HOLDINGS INC COM 228368106 43016 1597317 SH OTHER 1587517 0 9800 CROWN HOLDINGS INC COM 228368106 83571 3103261 SH OTHER 01 3101261 0 2000 DENBURY RES INC COM NEW 247916208 305 10600 SH OTHER 01 10600 0 0 DEVON ENERGY CORP NEW COM 25179M103 713 6484 SH OTHER 01 6484 0 0 DIAGEO P L C SPON ADR NEW 25243Q205 27660 334057 SH OTHER 331557 0 2500 DIAGEO P L C SPON ADR NEW 25243Q205 53225 642817 SH OTHER 01 642817 0 0 DISNEY WALT CO COM DISNEY 254687106 263 7900 SH OTHER 01 7900 0 0 DOW CHEM CO COM 260543103 41 1004 SH OTHER 1004 0 0 DOW CHEM CO COM 260543103 698 17285 SH OTHER 01 17285 0 0 DURECT CORP COM 266605104 2770 564060 SH OTHER 01 280452 0 283608 DURECT CORP COM 266605104 1216 247606 SH OTHER 247606 0 0 EDISON INTL COM 281020107 248 4722 SH OTHER 01 4722 0 0 EL PASO CORP COM 28336L109 14465 836625 SH OTHER 831150 0 5475 EL PASO CORP COM 28336L109 27018 1562625 SH OTHER 01 1562625 0 0 ELECTRONICS FOR IMAGING INC DBCV 1.500% 6/0 286082AA0 3573 3600000 PRN OTHER 01 3600000 0 0 ENTERPRISE PRODS PARTNERS L COM 293792107 28595 921227 SH OTHER 914652 0 6575 ENTERPRISE PRODS PARTNERS L COM 293792107 25173 810980 SH OTHER 01 789205 0 21775 EOG RES INC COM 26875P101 311 2450 SH OTHER 01 2450 0 0 EXXON MOBIL CORP COM 30231G102 6241 69568 SH OTHER 01 69068 0 500 EXXON MOBIL CORP COM 30231G102 3125 34841 SH OTHER 34841 0 0 FAIR ISAAC CORP NOTE 1.500% 8/1 303250AD6 979 1000000 PRN OTHER 01 1000000 0 0 FINISAR NOTE 5.250%10/1 31787AAC5 755 770000 PRN OTHER 770000 0 0 FINISAR NOTE 5.250%10/1 31787AAC5 4145 4230000 PRN OTHER 01 4230000 0 0 FISERV INC COM 337738108 15908 304050 SH OTHER 302125 0 1925 FISERV INC COM 337738108 45858 876500 SH OTHER 01 876500 0 0 FOREST OIL CORP COM PAR $0.01 346091705 36178 626785 SH OTHER 623260 0 3525 FOREST OIL CORP COM PAR $0.01 346091705 71886 1245440 SH OTHER 01 1239440 0 6000 FRANKLIN RES INC COM 354613101 904 9000 SH OTHER 01 9000 0 0 GENERAL ELECTRIC CO COM 369604103 1242 37505 SH OTHER 37505 0 0 GENERAL ELECTRIC CO COM 369604103 2381 71901 SH OTHER 01 71901 0 0 GETTY IMAGES INC SDCV 0.500% 6/0 374276AH6 199 200000 PRN OTHER 200000 0 0 GETTY IMAGES INC SDCV 0.500% 6/0 374276AH6 298 300000 PRN OTHER 01 300000 0 0 HALLIBURTON CO COM 406216101 665 14804 SH OTHER 01 14804 0 0 HALLIBURTON CO COM 406216101 180 4000 SH OTHER 4000 0 0 HEALTHSOUTH CORP COM NEW 421924309 25220 1296003 SH OTHER 1296003 0 0 HEALTHSOUTH CORP COM NEW 421924309 52397 2692546 SH OTHER 01 2692546 0 0 INGERSOLL-RAND COMPANY LTD CL A G4776G101 256 5700 SH OTHER 01 5700 0 0 INTEL CORP COM 458140100 412 17654 SH OTHER 01 17654 0 0 INTERNATIONAL BUSINESS MACHS COM 459200101 577 4670 SH OTHER 01 4670 0 0 ITC HLDGS CORP COM 465685105 22356 400213 SH OTHER 395413 0 4800 ITC HLDGS CORP COM 465685105 26762 479087 SH OTHER 01 479087 0 0 JETBLUE AWYS CORP NOTE 3.500% 7/1 477143AB7 836 855000 PRN OTHER 855000 0 0 JETBLUE AWYS CORP NOTE 3.500% 7/1 477143AB7 10137 10370000 PRN OTHER 01 10370000 0 0 JOHNSON & JOHNSON COM 478160104 61665 909373 SH OTHER 01 909373 0 0 JOHNSON & JOHNSON COM 478160104 28712 423417 SH OTHER 422117 0 1300 LILLY ELI & CO COM 532457108 5100 102567 SH OTHER 101517 0 1050 LILLY ELI & CO COM 532457108 977 19654 SH OTHER 01 19654 0 0 LIN TELEVISION CORP SDEB 2.500% 5/1 532776AL5 845 850000 PRN OTHER 850000 0 0 LIN TELEVISION CORP SDEB 2.500% 5/1 532776AL5 6807 6850000 PRN OTHER 01 6850000 0 0 LITHIA MTRS INC NOTE 2.875% 5/0 536797AB9 502 575000 PRN OTHER 575000 0 0 LITHIA MTRS INC NOTE 2.875% 5/0 536797AB9 5901 6763000 PRN OTHER 01 6763000 0 0 LOEWS CORP COM 540424108 270 6355 SH SOLE 6355 0 0 MAGELLAN MIDSTREAM HLDGS LP COM LP INTS 55907R108 23143 935065 SH OTHER 01 929415 0 5650 MAGELLAN MIDSTREAM HLDGS LP COM LP INTS 55907R108 26074 1053510 SH OTHER 1047210 0 6300 MAGMA DESIGN AUTOMATION NOTE 5/1 559181AB8 399 400000 PRN OTHER 01 400000 0 0 MCGRAW HILL COS INC COM 580645109 60598 1451459 SH OTHER 01 1449059 0 2400 MCGRAW HILL COS INC COM 580645109 26122 625666 SH OTHER 622266 0 3400 MEDICIS PHARMACEUTICAL CORP NOTE 1.500% 6/0 584690AB7 1990 2000000 PRN OTHER 01 2000000 0 0 MEDTRONIC INC COM 585055106 17926 359517 SH OTHER 357492 0 2025 MEDTRONIC INC COM 585055106 45196 906458 SH OTHER 01 906458 0 0 MENTOR GRAPHICS CORP FRNT 8/0 587200AD8 662 675000 PRN OTHER 675000 0 0 MENTOR GRAPHICS CORP FRNT 8/0 587200AD8 4586 4680000 PRN OTHER 01 4680000 0 0 MERCK & CO INC COM 589331107 692 17776 SH OTHER 17776 0 0 MERCK & CO INC COM 589331107 954 24502 SH OTHER 01 24502 0 0 MICROSOFT CORP COM 594918104 847 28815 SH OTHER 01 28815 0 0 MICROSOFT CORP COM 594918104 370 12577 SH OTHER 12577 0 0 NESS TECHNOLOGIES INC COM 64104X108 17745 1914250 SH OTHER 01 1914250 0 0 NESS TECHNOLOGIES INC COM 64104X108 3442 371330 SH OTHER 371330 0 0 NORTEL NETWORKS CORP NEW NOTE 4.250% 9/0 656568AB8 542 550000 PRN OTHER 550000 0 0 NORTEL NETWORKS CORP NEW NOTE 4.250% 9/0 656568AB8 21180 21503000 PRN OTHER 01 21503000 0 0 NOVADEL PHARMA INC COM 66986X106 11 47619 SH SOLE 47619 0 0 NOVARTIS A G SPONSORED ADR 66987V109 23037 456900 SH OTHER 01 456900 0 0 OCCIDENTAL PETE CORP DEL COM 674599105 54 667 SH OTHER 667 0 0 OCCIDENTAL PETE CORP DEL COM 674599105 400 4931 SH OTHER 01 4931 0 0 OPENWAVE SYS INC NOTE 2.750% 9/0 683718AC4 293 300000 PRN SOLE 300000 0 0 PEPSICO INC COM 713448108 611 8916 SH OTHER 01 8760 0 156 PEPSICO INC COM 713448108 1224 17866 SH OTHER 17866 0 0 PETROCHINA CO LTD SPONSORED ADR 71646E100 306 2000 SH OTHER 01 2000 0 0 PFIZER INC COM 717081103 406 19848 SH OTHER 01 19548 0 300 PROCTER & GAMBLE CO COM 742718109 8655 129127 SH OTHER 126527 0 2600 PROCTER & GAMBLE CO COM 742718109 11710 174702 SH OTHER 01 174702 0 0 PRUDENTIAL FINL INC COM 744320102 24409 315855 SH OTHER 314055 0 1800 PRUDENTIAL FINL INC COM 744320102 51570 667320 SH OTHER 01 660770 0 6550 QLT INC NOTE 3.000% 9/1 746927AB8 312 325000 PRN OTHER 325000 0 0 QLT INC NOTE 3.000% 9/1 746927AB8 6496 6775000 PRN OTHER 01 6775000 0 0 QUESTAR CORP COM 748356102 10652 174275 SH OTHER 172400 0 1875 QUESTAR CORP COM 748356102 46766 765150 SH OTHER 01 765150 0 0 QUESTCOR PHARMACEUTICALS INC COM 74835Y101 45 10780 SH SOLE 10780 0 0 REPUBLIC SVCS INC COM 760759100 16576 516381 SH OTHER 510869 0 5512 REPUBLIC SVCS INC COM 760759100 49164 1531589 SH OTHER 01 1531589 0 0 ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 270 3392 SH OTHER 01 3392 0 0 ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 1766 22151 SH OTHER 22151 0 0 SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 9032 237430 SH OTHER 237430 0 0 SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 4750 124864 SH OTHER 01 124864 0 0 SCHERING PLOUGH CORP COM 806605101 311 16475 SH OTHER 01 16475 0 0 SCHLUMBERGER LTD COM 806857108 13988 142226 SH OTHER 142226 0 0 SCHLUMBERGER LTD COM 806857108 30765 312813 SH OTHER 01 312813 0 0 SEMPRA ENERGY COM 816851109 5068 89100 SH OTHER 87350 0 1750 SEMPRA ENERGY COM 816851109 17563 308775 SH OTHER 01 299775 0 9000 SOUTHERN UN CO NEW COM 844030106 43128 1642341 SH OTHER 01 1640241 0 2100 SOUTHERN UN CO NEW COM 844030106 11366 432833 SH OTHER 432833 0 0 SPDR TR UNIT SER 1 78462F103 667 4725 PRN OTHER 01 4725 0 0 STANDARD MTR PRODS INC SDCV 6.750% 7/1 853666AB1 40 44000 PRN OTHER 01 44000 0 0 STATE STR CORP COM 857477103 203 2700 SH OTHER 01 2700 0 0 SUNCOR ENERGY INC COM 867229106 270 2480 SH OTHER 01 2480 0 0 TARGET CORP COM 87612E106 405 7470 SH OTHER 01 7470 0 0 TEKELEC NOTE 2.250% 6/1 879101AE3 149 150000 PRN OTHER 150000 0 0 TEKELEC NOTE 2.250% 6/1 879101AE3 347 350000 PRN OTHER 01 350000 0 0 TELEFLEX INC COM 879369106 16177 285000 SH OTHER 283150 0 1850 TELEFLEX INC COM 879369106 33319 587020 SH OTHER 01 587020 0 0 TIME WARNER INC COM 887317105 48280 3085000 SH OTHER 01 3082925 0 2075 TIME WARNER INC COM 887317105 18577 1187050 SH OTHER 1187050 0 0 TRIAN ACQUISITION I CORP UNIT 99/99/9999 89582E207 52705 5378050 SH OTHER 01 5378050 0 0 TRIAN ACQUISITION I CORP UNIT 99/99/9999 89582E207 23163 2363525 SH OTHER 2347050 0 16475 TRIAN ACQUISITION I CORP *W EXP 01/23/201 89582E116 68 100000 PRN OTHER 100000 0 0 TRIAN ACQUISITION I CORP *W EXP 01/23/201 89582E116 289 425000 PRN OTHER 01 395000 0 30000 TRIAN ACQUISITION I CORP COM 89582E108 3303 361000 SH OTHER 01 361000 0 0 ULTRAPETROL BAHAMAS LTD COM P94398107 208 22000 SH OTHER 01 7000 0 15000 UNION PAC CORP COM 907818108 220 1500 SH SOLE 1500 0 0 UNITED TECHNOLOGIES CORP COM 913017109 507 6800 SH OTHER 01 6800 0 0 VALEANT PHARMACEUTICALS INTL COM 91911X104 22952 1700176 SH OTHER 1689076 0 11100 VALEANT PHARMACEUTICALS INTL COM 91911X104 55023 4075774 SH OTHER 01 4073499 0 2275 VEECO INSTRS INC DEL NOTE 4.125%12/2 922417AB6 198 200000 PRN OTHER 01 200000 0 0 VERISIGN INC COM 92343E102 36313 985685 SH OTHER 980435 0 5250 VERISIGN INC COM 92343E102 73973 2007965 SH OTHER 01 2002965 0 5000 VIACOM INC NEW CL B 92553P201 2018 50768 SH OTHER 01 50768 0 0 VIACOM INC NEW CL B 92553P201 3590 90330 SH OTHER 90330 0 0 WALGREEN CO COM 931422109 357 10000 SH OTHER 10000 0 0 WALGREEN CO COM 931422109 183 5134 SH OTHER 01 5134 0 0 WASTE MGMT INC DEL COM 94106L109 9853 269350 SH OTHER 269350 0 0 WASTE MGMT INC DEL COM 94106L109 12047 329325 SH OTHER 01 329325 0 0 WEBSENSE INC COM 947684106 24950 1229668 SH OTHER 1223468 0 6200 WEBSENSE INC COM 947684106 58838 2899855 SH OTHER 01 2896837 0 3018 WYETH COM 983024100 146 3200 SH OTHER 01 3200 0 0 WYETH COM 983024100 160 3512 SH OTHER 3512 0 0
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