13F-HR 1 inftable.txt 13F FOR PERIOD ENDING SEPTEMBER 30, 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: September 30, 2010 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 November 2, 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: 140 Form 13F Information Table Value Total: 453413(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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 1/100 Berkshire Hathaway COM 084990175 498 400 SH Sole 400 3M Company COM 88579y101 701 8084 SH Sole 8084 Abbott Labs COM 002824100 9941 190298 SH Sole 190298 Accenture Ltd Bermuda Cl A COM 381 8960 SH Sole 8960 Adobe Sys Inc COM 00724F101 5445 208210 SH Sole 208210 Advent Software Inc COM 007974108 261 5000 SH Sole 5000 Air Prods & Chems Inc COM 009158106 5604 67665 SH Sole 67665 Altria Group Inc COM 02209S103 1689 70300 SH Sole 70300 American Express Co COM 025816109 4492 106873 SH Sole 106873 Ameriprise Finl Inc COM 03076c106 335 7068 SH Sole 7068 Amgen Inc COM 031162100 1130 20500 SH Sole 20500 Apple Inc COM 037833100 8286 29202 SH Sole 29202 AT&T Inc COM 00206R102 8405 293865 SH Sole 293865 Automatic Data Processing Inc COM 053015103 3545 84350 SH Sole 84350 Bank of America COM 060505104 354 26985 SH Sole 26985 Becton Dickinson & Co COM 075887109 418 5642 SH Sole 5642 Bemis Inc COM 081437105 1382 43540 SH Sole 43540 Berkshire Hathaway COM 084670108 249 2 SH Sole 2 Berkshire Hathaway B COM 084670207 3830 46326 SH Sole 46326 BP plc Sponsored ADR COM 055622104 2816 68409 SH Sole 68409 Bristol Myers Squibb COM 110122108 3672 135439 SH Sole 135439 Carnival Corp COM 143658300 457 11970 SH Sole 11970 Caterpillar Inc COM 149123101 472 6000 SH Sole 6000 Chevron Corp COM 166764100 12454 153663 SH Sole 153663 Cigna Corp COM 125509109 227 6342 SH Sole 6342 Cisco Systems COM 17275r102 6729 307243 SH Sole 307243 Citigroup Inc COM 172967101 75 19200 SH Sole 19200 Coca Cola Co COM 191216100 2155 36824 SH Sole 36824 Conocophillips COM 20825C104 714 12433 SH Sole 12433 Convergys Corp COM 212485106 129 12352 SH Sole 12352 Corning Inc COM 219350105 366 20000 SH Sole 20000 Costco Whsl Corp COM 22160K105 777 12046 SH Sole 12046 Covidien Plc COM G2554F105 1031 25650 SH Sole 25650 CVS Caremark Corporation COM 126650100 5816 184797 SH Sole 184797 Danaher Corp COM 235851102 8987 221290 SH Sole 221290 Deere & Co COM 244199105 440 6300 SH Sole 6300 Disney Walt Co COM 254687106 3681 111214 SH Sole 111214 Dominion Res Inc Va COM 25746U109 249 5702 SH Sole 5702 Dun & Bradstreet Corp COM 26483E100 459 6185 SH Sole 6185 eBay Inc COM 278642103 5356 219500 SH Sole 219500 Ecolab Inc COM 278865100 1743 34350 SH Sole 34350 Electronic Arts, Inc. COM 285512109 728 44275 SH Sole 44275 Emerson Elec Co COM 291011104 1756 33350 SH Sole 33350 Express Scripts Inc COM 302182100 343 7045 SH Sole 7045 Exxon Mobil Corp COM 30231G102 17713 286671 SH Sole 286671 Fiserv Inc COM 337738108 2418 44926 SH Sole 44926 Franklin Res Inc COM 354613101 2210 20672 SH Sole 20672 General Electric Co COM 369604103 10274 632244 SH Sole 632244 General Mls Inc COM 370334104 387 10600 SH Sole 10600 Genzyme Corp COM 372917104 920 13000 SH Sole 13000 Glaxosmithkline PLC Sponsored COM 37733W105 2104 53230 SH Sole 53230 Goldman Sachs Group COM 38141g104 786 5435 SH Sole 5435 Google, Inc. COM 38259p508 7567 14392 SH Sole 14392 Hewlett Packard Co. COM 428236103 12876 306069 SH Sole 306069 Home Depot Inc COM 437076102 1589 50150 SH Sole 50150 Intel Corp COM 458140100 4078 212392 SH Sole 212392 International Business Machs COM 459200101 9446 70419 SH Sole 70419 Johnson & Johnson COM 478160104 10578 170715 SH Sole 170715 JPMorgan Chase & Co COM 46625H100 6315 165918 SH Sole 165918 Key Tronic Inc COM 493144109 500 84000 SH Sole 84000 Kimberly Clark Corp COM 494368103 1462 22469 SH Sole 22469 Kinder Morgan Energy Partners COM 494550106 699 10200 SH Sole 10200 Kohl's Corp. COM 500255104 3446 65415 SH Sole 65415 Kraft Foods Inc Cl A COM 50075N104 1423 46115 SH Sole 46115 Life Technologies Corp. COM 53217v109 1612 34522 SH Sole 34522 Lowes Cos Inc COM 548661107 3134 140586 SH Sole 140586 McDonalds Corp COM 580135101 792 10626 SH Sole 10626 Medtronic Inc COM 585055106 217 6450 SH Sole 6450 Merck & Co COM 589331107 587 15934 SH Sole 15934 Microsoft Corp. COM 594918104 13783 562799 SH Sole 562799 Monsanto Co COM 61166W101 3676 76700 SH Sole 76700 Nike Inc Cl B COM 654106103 1283 16010 SH Sole 16010 Noble Energy, Inc. COM 655044105 612 8150 SH Sole 8150 Nokia Corp Sponsored ADR COM 654902204 125 12475 SH Sole 12475 Nordstrom Inc COM 655664100 2876 77300 SH Sole 77300 Novartis A G Sponsored ADR COM 66987V109 1416 24550 SH Sole 24550 Nucor Corp COM 670346105 1089 28500 SH Sole 28500 Occidental Petroleum COM 674599105 300 3829 SH Sole 3829 Oil Service Holdr COM 678002106 611 5400 SH Sole 5400 Oilsands Quest Inc COM 678046103 10 20000 SH Sole 20000 Omnicom Group Inc COM 681919106 584 14800 SH Sole 14800 Oracle Corp. COM 68389x105 6057 225601 SH Sole 225601 Paccar, Inc. COM 693718108 3347 69505 SH Sole 69505 Peets Coffee & Tea Inc COM 705560100 205 6000 SH Sole 6000 Pepsico Inc COM 713448108 11225 168943 SH Sole 168943 Pfizer Inc COM 717081103 5843 340319 SH Sole 340319 Philip Morris Intl Inc COM 718172109 3770 67303 SH Sole 67303 PowerShares ETF Dynamic Biotec COM 73935x856 798 41100 SH Sole 41100 Procter & Gamble Co COM 742718109 21553 359405 SH Sole 359405 Qualcomm Inc COM 747525103 7067 156580 SH Sole 156580 Roper Inds Inc COM 776696106 534 8200 SH Sole 8200 Royal Dutch Shell Plc Spons AD COM 780259206 2990 49590 SH Sole 49590 Sara Lee Corp COM 803111103 2699 200992 SH Sole 200992 Schlumberger Ltd COM 806857108 9059 147041 SH Sole 147041 Schwab Charles Corp COM 808513105 4644 334101 SH Sole 334101 Southern Co COM 842587107 358 9600 SH Sole 9600 State Street Corp. COM 857477103 4276 113550 SH Sole 113550 Stryker Corp COM 863667101 2704 54023 SH Sole 54023 Supergen Inc COM 868059106 418 200000 SH Sole 200000 Target Corp. COM 87612e106 4245 79435 SH Sole 79435 Teva Pharmaceutical Inds Ltd A COM 881624209 4979 94395 SH Sole 94395 Thermo Fisher Scientific COM 883556102 4029 84150 SH Sole 84150 Transocean Inc COM h8817h100 1299 20202 SH Sole 20202 Travelers Companies Inc COM 89417E109 5568 106873 SH Sole 106873 True Religion Apparel COM 89784N104 256 12000 SH Sole 12000 U.S. Bancorp COM 902973304 368 17026 SH Sole 17026 Union Pacific Corp. COM 907818108 254 3104 SH Sole 3104 United Technologies Corp COM 913017109 4303 60412 SH Sole 60412 Varian Med Sys Inc COM 92220P105 1761 29100 SH Sole 29100 Verizon Comm COM 92343V104 2019 61940 SH Sole 61940 Vodafone Grp ADR COM 92857W209 2582 104072 SH Sole 104072 Wal Mart Stores Inc COM 931142103 7226 135013 SH Sole 135013 Walgreen Co COM 931422109 211 6300 SH Sole 6300 Weatherford Intl COM H27013103 3577 209200 SH Sole 209200 Wells Fargo & Co COM 949746101 14361 571793 SH Sole 571793 Xenoport, Inc. COM 98411C100 92 13000 SH Sole 13000 Zimmer Holdings COM 98956p102 638 12190 SH Sole 12190 Bac Cap Tr XII Gtd Cap 6.875% PRD 05633T209 516 20500.0000 SH Sole 20500.0000 Capital One Cap II 7.5% Trups PRD 14041L204 302 12000.0000 SH Sole 12000.0000 AQR Fds Momntm Fd Cl L 00203H701 4162 319649.719 SH Sole 319649.719 Chestnut Str Exch Fd Sh Partsh 166668103 11701 37432.300 SH Sole 37432.300 CMG Absolute Return Strategies 66537V104 2950 311828.750 SH Sole 311828.750 DWS Dreman High Return Equity 250 30067.751 SH Sole 30067.751 DWS Dreman Small Mid Cap Val V 116 11630.780 SH Sole 11630.780 Schwab Invts 1000 Index Inv 808517106 278 8060.930 SH Sole 8060.930 Turner Spectrum Fund Instl 900297664 4544 419932.069 SH Sole 419932.069 Vanguard/Wellington Fund Admir 921935201 249 4862.523 SH Sole 4862.523 Wells Fargo VT Advantage Oppor 110 10467.701 SH Sole 10467.701 Redwood Mtg Investors VIIIREG 22 22303 SH Sole 22303 iShares Russell 2000 Index Fun 464287655 1371 20307 SH Sole 20307 Midcap SPDR Tr Ser 1 595635103 242 1661 SH Sole 1661 Powershares ETF Trust Finl Pfd 73935X229 418 23000 SH Sole 23000 PowerShares FTSE RAFI US 1000 7792 154814 SH Sole 154814 PowerShares QQQ Trust Unit Ser 73935A104 1473 30011 SH Sole 30011 SPDR Tr Unit Ser 1 78462F103 15631 136959 SH Sole 136959 APM Global Macro Fund, LP 3903 3833228 SH Sole 3833228 Blueline Capital Partners 1600 1600000 SH Sole 1600000 BlueLine Capital Partners II, 250 250000 SH Sole 250000 Hatteras VC Co-Investment Fund 489hvc995 1897 21557 SH Sole 21557 SVB Strategic Investors II 250 250000 SH Sole 250000