13F-HR 1 inftable.txt 13F FOR QUARTER ENDING MARCH 31, 2010 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, 2010 Check here if Amendment [ ] Amendment Number:1 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 APRIL 29, 2010 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:141 Form 13F Information Table Value Total: 269702(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 COM 88579y101 318 3800 SH Sole 3800 Abbott Labs COM 002824100 5924 112450 SH Sole 112450 Accenture Ltd Bermuda Cl A COM 471 11235 SH Sole 11235 Activision Blizzard Inc COM 00507V109 464 38500 SH Sole 38500 Adobe Sys Inc COM 00724F101 4567 129110 SH Sole 129110 Advent Software Inc COM 007974108 268 6000 SH Sole 6000 Aflac Inc COM 001055102 41 748 SH Sole 748 Air Prods & Chems Inc COM 009158106 1235 16700 SH Sole 16700 Allstate Corp COM 020002101 485 15000 SH Sole 15000 American Express Co COM 025816109 3983 96539 SH Sole 96539 Ameriprise Finl Inc COM 03076c106 321 7068 SH Sole 7068 Amgen Inc COM 031162100 543 9068 SH Sole 9068 Apple Inc COM 037833100 4859 20675 SH Sole 20675 Applied Materials Inc COM 038222105 102 7600 SH Sole 7600 AT&T Inc COM 00206R102 3826 148049 SH Sole 148049 Automatic Data Processing Inc COM 053015103 253 5700 SH Sole 5700 Bank of America COM 060505104 430 24063 SH Sole 24063 Becton Dickinson & Co COM 075887109 525 6665 SH Sole 6665 Bemis Inc COM 081437105 17 590 SH Sole 590 Berkshire Hathaway COM 084670108 244 2 SH Sole 2 Berkshire Hathaway B COM 084670207 136 1671 SH Sole 1671 Best Buy Co Inc COM 086516101 368 8650 SH Sole 8650 BP Plc Sponsored ADR COM 055622104 3187 55849 SH Sole 55849 Bristol Myers Squibb COM 110122108 389 14575 SH Sole 14575 Carnival Corp COM 143658300 500 12870 SH Sole 12870 Caterpillar Inc COM 149123101 365 5800 SH Sole 5800 Cerus Corp COM 157085101 20 7000 SH Sole 7000 Chevron Corp COM 166764100 9087 119828 SH Sole 119828 Cigna Corp COM 125509109 240 6550 SH Sole 6550 Cisco Systems COM 17275r102 5663 217543 SH Sole 217543 Citigroup Inc COM 172967101 7 1700 SH Sole 1700 Citrix Systems Inc COM 177376100 498 10500 SH Sole 10500 Coca Cola Co COM 191216100 1627 29584 SH Sole 29584 Conocophillips COM 20825C104 864 16891 SH Sole 16891 Convergys Corp COM 212485106 151 12352 SH Sole 12352 Corning Inc COM 219350105 404 20000 SH Sole 20000 Covidien Plc COM G2552X108 1390 27642 SH Sole 27642 CVS Caremark Corp COM 126650100 4935 134997 SH Sole 134997 Danaher Corp COM 235851102 3564 44600 SH Sole 44600 Deere & Co COM 244199105 464 7800 SH Sole 7800 Disney Walt Co COM 254687106 3259 93364 SH Sole 93364 Dominion Res Inc Va COM 25746U109 84 2052 SH Sole 2052 Dow Chem Co COM 260543103 191 6471 SH Sole 6471 eBay Inc COM 278642103 3255 120700 SH Sole 120700 Ecolab Inc COM 278865100 88 2000 SH Sole 2000 Emerson Elec Co COM 291011104 81 1600 SH Sole 1600 Enbridge Energy COM 0 156925 SH Sole 156925 Express Scripts Inc COM 302182100 650 6387 SH Sole 6387 Exxon Mobil Corp COM 30231G102 9712 144996 SH Sole 144996 Fiserv Inc COM 337738108 2346 46226 SH Sole 46226 Franklin Res Inc COM 354613101 217 1961 SH Sole 1961 Gardner Denver Inc COM 365558105 256 5810 SH Sole 5810 General Electric Co COM 369604103 6992 384164 SH Sole 384164 General Mls Inc COM 370334104 198 2800 SH Sole 2800 Genzyme Corp COM 372917104 1166 22500 SH Sole 22500 Glaxosmithkline Plc Sponsored COM 37733W105 4 100 SH Sole 100 Goldman Sachs Group COM 38141g104 916 5370 SH Sole 5370 Google, Inc. COM 38259p508 5868 10347 SH Sole 10347 Hewlett Packard Co. COM 428236103 7027 132216 SH Sole 132216 Home Depot, Inc. COM 437076102 550 17000 SH Sole 17000 Honeywell Inc COM 438516106 176 3896 SH Sole 3896 Intel Corp COM 458140100 3200 143560 SH Sole 143560 Intl Business Mach COM 459200101 5774 45024 SH Sole 45024 Johnson & Johnson COM 478160104 7026 107767 SH Sole 107767 JPMorgan Chase & Co COM 46625H100 3064 68463 SH Sole 68463 Key Tronic Inc COM 493144109 433 84000 SH Sole 84000 Kimberly Clark Corp COM 494368103 31 486 SH Sole 486 Kohl's Corp. COM 500255104 2429 44350 SH Sole 44350 Kraft Foods Inc Cl A COM 50075N104 15 484 SH Sole 484 Life Technologies Corp. COM 53217v109 738 14124 SH Sole 14124 Lincoln Elec Hldgs Inc COM 533900106 469 8630 SH Sole 8630 Lincoln Natl Corp Ind COM 534187109 246 8000 SH Sole 8000 Lowes Cos Inc COM 548661107 1877 77450 SH Sole 77450 McDonalds Corp COM 580135101 618 9256 SH Sole 9256 Medtronic Inc COM 585055106 1117 24800 SH Sole 24800 Merck & Co COM 589331107 418 11200 SH Sole 11200 Microsoft Corp. COM 594918104 7693 262678 SH Sole 262678 Monsanto Co COM 61166W101 2510 35150 SH Sole 35150 Nike Inc Cl B COM 654106103 1 10 SH Sole 10 Noble Energy, Inc. COM 655044105 584 8000 SH Sole 8000 Nokia Corp ADR COM 654902204 320 20600 SH Sole 20600 Nordstrom, Inc. COM 655664100 4 100 SH Sole 100 Oil Service Holdr COM 678002106 834 6800 SH Sole 6800 Omnicom Group Inc COM 681919106 1120 28850 SH Sole 28850 Oracle Corp. COM 68389x105 3781 147050 SH Sole 147050 Peets Coffee & Tea Inc COM 705560100 278 7000 SH Sole 7000 Pepsico, Inc. COM 713448108 7665 115851 SH Sole 115851 Pfizer, Inc. COM 717081103 1100 64137 SH Sole 64137 Philip Morris Intl Inc COM 718172109 37 700 SH Sole 700 Procter & Gamble Co COM 742718109 12047 190406 SH Sole 190406 Qualcomm Inc COM 747525103 4574 109000 SH Sole 109000 Royal Dutch Shell Plc Spons AD COM 780259206 796 13750 SH Sole 13750 Sara Lee Corp COM 803111103 2800 200992 SH Sole 200992 Schlumberger Ltd COM 806857108 3221 50750 SH Sole 50750 Schwab Charles Corp COM 808513105 3938 210706 SH Sole 210706 Select Sector SPDR Tr Sbi Int- COM 81369Y803 97 4200 SH Sole 4200 Southern Co COM 842587107 86 2600 SH Sole 2600 Staples, Inc. COM 855030102 239 10200 SH Sole 10200 State Street Corp. COM 857477103 1074 23800 SH Sole 23800 Stryker Corp COM 863667101 3307 57800 SH Sole 57800 Sybase, Inc. COM 871130100 12 250 SH Sole 250 Sysco Corp COM 871829107 186 6311 SH Sole 6311 Target Corp. COM 87612e106 2510 47710 SH Sole 47710 Teva Pharma ADR COM 881624209 918 14550 SH Sole 14550 Thermo Fisher Scientific COM 883556102 790 15350 SH Sole 15350 Transocean Inc COM h8817h100 1202 13916 SH Sole 13916 Travelers Companies Inc COM 89417E109 992 18400 SH Sole 18400 True Religion Apparel COM 89784N104 364 12000 SH Sole 12000 Tyco Electronics Ltd COM G9144P105 448 16285 SH Sole 16285 Tyco International Ltd. COM h89128104 479 12535 SH Sole 12535 U.S. Bancorp COM 902973304 344 13289 SH Sole 13289 Union Pacific Corp. COM 907818108 162 2204 SH Sole 2204 United Technologies COM 913017109 3189 43325 SH Sole 43325 Varian Med Sys Inc COM 92220P105 2202 39800 SH Sole 39800 Verizon Comm COM 92343V104 799 25750 SH Sole 25750 Vodafone Grp ADR COM 92857W209 854 36645 SH Sole 36645 Wal Mart Stores Inc COM 931142103 1535 27616 SH Sole 27616 Walgreen Co COM 931422109 256 6901 SH Sole 6901 Weatherford Intl COM H27013103 2059 129850 SH Sole 129850 Wells Fargo & Co COM 949746101 17364 557976 SH Sole 557976 Xenoport, Inc. COM 98411C100 231 24996 SH Sole 24996 Zimmer Holdings COM 98956p102 103 1740 SH Sole 1740 Chestnut Str Exch Fd Sh Partsh 166668103 12321 37432.300 SH Sole 37432.300 CMG Absolute Return Strategies 66537V104 2758 286691.553 SH Sole 286691.553 DWS Dreman High Return Equity 262 30067.751 SH Sole 30067.751 DWS Dreman Small Mid Cap Val V 115 11630.780 SH Sole 11630.780 Schwab Invts 1000 Index Inv 808517106 390 11186.374 SH Sole 11186.374 Turner Spectrum Fund Instl 900297664 4748 429336.512 SH Sole 429336.512 Redwood Mtg Investors VIIIREG 22 22303 SH Sole 22303 Hussman Strategic Growth 448108100 137 10788.729 SH Sole 10788.729 Plum Creek Timber Co 729251108 195 5000 SH Sole 5000 iShares Russell 2000 Index Fun 464287655 773 11407 SH Sole 11407 Midcap SPDR Tr Ser 1 595635103 266 1861 SH Sole 1861 PowerShares FTSE RAFI US 1000 10807 209158 SH Sole 209158 PowerShares QQQ Trust Unit Ser 73935A104 1349 28011 SH Sole 28011 SPDR Tr Unit Ser 1 78462F103 1303 11134 SH Sole 11134 APM Global Macro Fund, LP 3503 3488431 SH Sole 3488431 Blueline Capital Partners 1600 1600000 SH Sole 1600000 BlueLine Capital Partners II, 250 250000 SH Sole 250000 SVB Strategic Investors II 250 250000 SH Sole 250000 The Individuals' Venture Fund 324 550000 SH Sole 550000