13F-HR 1 inftable.txt 13F FOR PERIOD ENDING SEPTEMBER 30, 2011 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, 2011 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, 2011 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: 144 Form 13F Information Table Value Total: 502,830 (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 427 400 SH Sole 400 3M Company COM 88579y101 590 8221 SH Sole 8221 Abbott Labs COM 002824100 10936 213853 SH Sole 213853 Accenture Ltd Bermuda Cl A COM 390 7399 SH Sole 7399 Affiliated Managers Group COM 008252108 4104 52584 SH Sole 52584 Air Prods & Chems Inc COM 009158106 5735 75095 SH Sole 75095 Altria Group Inc COM 02209S103 2011 75013 SH Sole 75013 American Express Co COM 025816109 4036 89878 SH Sole 89878 Amgen Inc COM 031162100 1403 25535 SH Sole 25535 Apple Inc COM 037833100 13930 36531 SH Sole 36531 Astex Pharmaceuticals Inc Com COM 04624B103 386 200900 SH Sole 200900 AT&T Inc COM 00206R102 9359 328160 SH Sole 328160 Automatic Data Processing Inc COM 053015103 3924 83225 SH Sole 83225 Baxter Intl Inc COM 071813109 303 5400 SH Sole 5400 Becton Dickinson & Co COM 075887109 345 4700 SH Sole 4700 Bemis Inc COM 081437105 1276 43540 SH Sole 43540 Berkshire Hathaway COM 084670108 214 2 SH Sole 2 Berkshire Hathaway B COM 084670207 3115 43844 SH Sole 43844 BP plc Sponsored ADR COM 055622104 2201 61024 SH Sole 61024 Bristol Myers Squibb COM 110122108 4221 134525 SH Sole 134525 Caterpillar Inc COM 149123101 425 5750 SH Sole 5750 Chevron Corp COM 166764100 15515 167569 SH Sole 167569 Cisco Systems COM 17275r102 5861 378131 SH Sole 378131 Citrix Systems Inc COM 177376100 4544 83325 SH Sole 83325 Coca Cola Co COM 191216100 2423 35869 SH Sole 35869 Colgate Palmolive Co COM 194162103 946 10667 SH Sole 10667 Conocophillips COM 20825C104 357 5644 SH Sole 5644 Constant Contact Inc COM 210313102 187 10800 SH Sole 10800 Convergys Corp COM 212485106 94 10000 SH Sole 10000 Corning Inc COM 219350105 478 38655 SH Sole 38655 Costco Whsl Corp COM 22160K105 1263 15375 SH Sole 15375 Covidien Plc COM G2554F113 1481 33578 SH Sole 33578 CVS Caremark Corporation COM 126650100 4133 123040 SH Sole 123040 Daily Journal Corp COM 233912104 759 11637 SH Sole 11637 Danaher Corp COM 235851102 11302 269475 SH Sole 269475 Deere & Co COM 244199105 609 9425 SH Sole 9425 Disney Walt Co COM 254687106 7160 237403 SH Sole 237403 Dominion Res Inc Va COM 25746U109 244 4802 SH Sole 4802 Dun & Bradstreet Corp COM 26483E100 379 6185 SH Sole 6185 eBay Inc COM 278642103 5960 202097 SH Sole 202097 Ecolab Inc COM 278865100 5979 122285 SH Sole 122285 Electronic Arts, Inc. COM 285512109 900 44000 SH Sole 44000 EMC Corp. COM 268648102 1653 78769 SH Sole 78769 Emerson Elec Co COM 291011104 3480 84245 SH Sole 84245 EOG Resources Inc COM 26875P101 252 3553 SH Sole 3553 Exelon Corp COM 30161N101 334 7850 SH Sole 7850 Express Scripts Inc COM 302182100 348 9391 SH Sole 9391 Exxon Mobil Corp COM 30231G102 21067 290054 SH Sole 290054 Fiserv Inc COM 337738108 1047 20632 SH Sole 20632 Franklin Resources Inc COM 354613101 2061 21550 SH Sole 21550 General Electric Co. COM 369604103 8186 537838 SH Sole 537838 General Mls Inc COM 370334104 413 10734 SH Sole 10734 Gilead Sciences, Inc. COM 375558103 447 11518 SH Sole 11518 Glaxosmithkline Plc Sponsored COM 37733W105 2237 54171 SH Sole 54171 Google, Inc. COM 38259p508 8074 15677 SH Sole 15677 Heinz H J Co COM 423074103 227 4500 SH Sole 4500 Hewlett Packard Co. COM 428236103 8351 371988 SH Sole 371988 Home Depot Inc COM 437076102 1585 48208 SH Sole 48208 Intel Corp COM 458140100 4147 194353 SH Sole 194353 International Business Machs COM 459200101 10238 58547 SH Sole 58547 Intl Paper Co COM 460146103 643 27675 SH Sole 27675 Intuit COM 461202103 6652 140215 SH Sole 140215 Johnson & Johnson COM 478160104 12419 194988 SH Sole 194988 Johnson Ctls Inc COM 478366107 3995 151485 SH Sole 151485 JPMorgan Chase & Co COM 46625H100 6971 231432 SH Sole 231432 Kellogg Co COM 487836108 1294 24325 SH Sole 24325 Key Tronic Inc COM 493144109 291 84000 SH Sole 84000 Kimberly Clark Corp COM 494368103 1526 21486 SH Sole 21486 Kinder Morgan Energy Partners COM 494550106 687 10050 SH Sole 10050 Kinder Morgan Fractional Share COM eke55u103 0 616847 SH Sole 616847 Kinder Morgan Managment, LLC COM 49455U100 982 16737 SH Sole 16737 Kohl's Corp. COM 500255104 4237 86295 SH Sole 86295 Kraft Foods Inc Cl A COM 50075N104 1596 47531 SH Sole 47531 Life Technologies Corp. COM 53217v109 884 23000 SH Sole 23000 Lowes Cos Inc COM 548661107 3686 190567 SH Sole 190567 McDonalds Corp COM 580135101 2565 29204 SH Sole 29204 Merck & Co COM 58933Y105 519 15868 SH Sole 15868 Microsoft Corp COM 594918104 14105 566690 SH Sole 566690 Monsanto Co COM 61166W101 4220 70290 SH Sole 70290 Nike Inc Cl B COM 654106103 1422 16633 SH Sole 16633 Noble Energy, Inc. COM 655044105 358 5060 SH Sole 5060 Nordstrom Inc COM 655664100 3531 77300 SH Sole 77300 Novartis A G Sponsored ADR COM 66987V109 6603 118390 SH Sole 118390 Nucor Corp COM 670346105 930 29400 SH Sole 29400 Oilsands Quest Inc COM 678046103 4 20000 SH Sole 20000 Omnicom Group Inc COM 681919106 357 9700 SH Sole 9700 Oracle Corp. COM 68389x105 8819 306851 SH Sole 306851 Paccar, Inc. COM 693718108 1146 33888 SH Sole 33888 Peets Coffee & Tea Inc COM 705560100 334 6000 SH Sole 6000 Pepsico Inc COM 713448108 13448 217254 SH Sole 217254 Pfizer Inc COM 717081103 5394 305114 SH Sole 305114 Philip Morris Intl Inc COM 718172109 4402 70569 SH Sole 70569 PNC Financial Services Group I COM 693475105 560 11620 SH Sole 11620 PowerShares ETF Dynamic Biotec COM 73935x856 619 33800 SH Sole 33800 Praxair Inc COM 74005P104 1670 17861 SH Sole 17861 Procter & Gamble Co COM 742718109 20814 329444 SH Sole 329444 Qualcomm Inc COM 747525103 8679 178462 SH Sole 178462 Royal Dutch Shell Plc Spons AD COM 780259206 2970 48275 SH Sole 48275 Sara Lee Corp COM 803111103 3145 192369 SH Sole 192369 Schlumberger Ltd COM 806857108 9328 156175 SH Sole 156175 Schwab Charles Corp COM 808513105 739 65542 SH Sole 65542 Southern Co COM 842587107 407 9600 SH Sole 9600 State Street Corp COM 857477103 5450 169470 SH Sole 169470 Stericycle Inc. COM 858912108 3276 40585 SH Sole 40585 Stryker Corp COM 863667101 1164 24700 SH Sole 24700 Target Corp COM 87612E106 5254 107136 SH Sole 107136 Teva Pharmaceutical Inds Ltd A COM 881624209 1052 28260 SH Sole 28260 Thermo Fisher Scientific COM 883556102 6013 118748 SH Sole 118748 Travelers Companies Inc COM 89417E109 7610 156158 SH Sole 156158 True Religion Apparel COM 89784N104 324 12000 SH Sole 12000 U.S. Bancorp COM 902973304 412 17491 SH Sole 17491 Union Pacific Corp. COM 907818108 369 4519 SH Sole 4519 United Technologies Corp COM 913017109 6689 95062 SH Sole 95062 Verizon Comm COM 92343V104 1131 30726 SH Sole 30726 Vodafone Grp ADR COM 92857W209 2014 78493 SH Sole 78493 Wal Mart Stores Inc COM 931142103 6638 127905 SH Sole 127905 Walgreen Co COM 931422109 1112 33800 SH Sole 33800 Weatherford Intl COM H27013103 1018 83400 SH Sole 83400 Wells Fargo & Co COM 949746101 8831 366135 SH Sole 366135 Zimmer Holdings COM 98956p102 628 11740 SH Sole 11740 Bac Cap Tr XII Gtd Cap 6.875% PRD 05633T209 410 20500 SH Sole 20500 Capital One Cap II 7.5% Trups PRD 14041L204 303 12000 SH Sole 12000 AQR FDS Divrsf Arbtg I 00203H602 4486 400888 SH Sole 400888 AQR Fds Momntm Fd Cl L 00203H701 4181 334469 SH Sole 334469 Chestnut Str Exch Fd Sh Partsh 166668103 11713 37432 SH Sole 37432 CMG Absolute Return Strategies 66537V104 2605 254682 SH Sole 254682 DWS Dreman Small Mid Cap Val V 105 11354 SH Sole 11354 Schwab Invts 1000 Index Inv 808517106 251 7458 SH Sole 7458 Schwab S&P 500 Portfolio 204 11536 SH Sole 11536 Turner Fds Med Sci LS Inst 900297565 2327 224820 SH Sole 224820 Turner Spectrum Fund Instl 900297664 4795 418797 SH Sole 418797 Vanguard World Funds US Growth 921910105 232 14013 SH Sole 14013 Wells Fargo VT Advantage Oppor 202 20263 SH Sole 20263 iShares Russell 2000 Index Fun 464287655 767 11929 SH Sole 11929 iShares Tr Russell 1000 464287622 262 4185 SH Sole 4185 PowerShares ETF Trust Finl Pfd 73935X229 452 28000 SH Sole 28000 PowerShares FTSE RAFI US 1000 8185 167352 SH Sole 167352 PowerShares QQQ Trust 73935A104 1310 24951 SH Sole 24951 SPDR Tr Unit Ser 1 78462F103 15490 136898 SH Sole 136898 Altegris Global Macro Fund, LP 4524 4078070 SH Sole 4078070 Blueline Capital Partners 1600 1600000 SH Sole 1600000 BlueLine Capital Partners II, 250 250000 SH Sole 250000 Hatteras VC Co-Investment Fund 489hvc995 1941 22519 SH Sole 22519 SVB Strategic Investors II 250 250000 SH Sole 250000