13F HOLDINGS REPORT

OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC

Quarter ended Q2 2025 · Filed August 12, 2025 · Accession 0001765380-25-000342

Total Value

$1.88B

Positions

205

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (205)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	VANGUARD INTL EQUITY INDEX F	922042775	1,926,907	$129.5M	6.89%
2	MICROSOFT CORP	MSFT	138,350	$68.8M	3.66%
3	APPLE INC	AAPL	295,218	$60.6M	3.22%
4	VANGUARD INTL EQUITY INDEX F	922042858	1,213,332	$60.0M	3.19%
5	ISHARES INC	46434G822	533,841	$40.0M	2.13%
6	VANGUARD INTL EQUITY INDEX F	922042874	497,165	$38.5M	2.05%
7	VANGUARD INDEX FDS	922908553	432,617	$38.5M	2.05%
8	NVIDIA CORPORATION	NVDA	214,642	$33.9M	1.80%
9	JPMORGAN CHASE & CO.	VYLD	113,722	$33.0M	1.75%
10	SPDR INDEX SHS FDS	78463X863	1,171,696	$32.1M	1.71%
11	SSGA ACTIVE ETF TR	78467V608	738,962	$30.7M	1.63%
12	ISHARES TR	46434V878	561,281	$28.5M	1.51%
13	GLOBAL X FDS	37954Y491	627,540	$28.2M	1.50%
14	ALPHABET INC	GOOG	145,221	$25.8M	1.37%
15	BARCLAYS BANK PLC	VXZ	743,208	$25.3M	1.34%
16	META PLATFORMS INC	META	30,857	$22.8M	1.21%
17	PALO ALTO NETWORKS INC	PANW	109,987	$22.5M	1.20%
18	ISHARES TR	46436E718	220,261	$22.2M	1.18%
19	ISHARES INC	464286814	400,726	$21.8M	1.16%
20	MERCADOLIBRE INC	MELI	8,066	$21.1M	1.12%
21	ALPHABET INC	GOOG	119,004	$21.0M	1.12%
22	AMAZON COM INC	AMZN	89,494	$19.6M	1.04%
23	ISHARES TR	464287432	214,168	$18.9M	1.00%
24	DANAHER CORPORATION	235851102	95,553	$18.9M	1.00%
25	NEW YORK LIFE INVESTMENTS ET	45409B800	523,508	$18.5M	0.98%
26	CHENIERE ENERGY INC	LNG	72,978	$17.8M	0.94%
27	ISHARES TR	464287390	677,661	$17.8M	0.94%
28	LAS VEGAS SANDS CORP	LVS	404,393	$17.6M	0.94%
29	SALESFORCE INC	CRM	63,791	$17.4M	0.92%
30	BERKSHIRE HATHAWAY INC DEL	BRK-A	35,543	$17.3M	0.92%
31	MARSH & MCLENNAN COS INC	571748102	77,560	$17.0M	0.90%
32	SPDR INDEX SHS FDS	78463X400	191,787	$16.8M	0.89%
33	SPDR S&P 500 ETF TR	SPY	26,918	$16.6M	0.88%
34	VISA INC	V	46,436	$16.5M	0.88%
35	ADVANCED MICRO DEVICES INC	AMD	112,867	$16.0M	0.85%
36	AUTOMATIC DATA PROCESSING IN	ADP	50,837	$15.7M	0.83%
37	SPDR SERIES TRUST	78464A870	185,852	$15.4M	0.82%
38	CARNIVAL PLC	CUKPF	596,826	$15.2M	0.81%
39	DISNEY WALT CO	254687106	122,254	$15.2M	0.81%
40	COLUMBIA ETF TR II	19762B707	232,184	$15.1M	0.80%
41	PLANET FITNESS INC	PLNT	137,894	$15.0M	0.80%
42	ABBOTT LABS	ABLZF	108,673	$14.8M	0.79%
43	WALMART INC	WMT	150,524	$14.7M	0.78%
44	TAKE-TWO INTERACTIVE SOFTWAR	TTWO	60,200	$14.6M	0.78%
45	BLOCK INC	BSQKZ	208,263	$14.1M	0.75%
46	ISHARES TR	46435G102	155,830	$14.0M	0.75%
47	UNION PAC CORP	UNP	59,116	$13.6M	0.72%
48	NICE LTD	NCSYF	77,923	$13.2M	0.70%
49	THERMO FISHER SCIENTIFIC INC	TMO	31,973	$13.0M	0.69%
50	BOOKING HOLDINGS INC	BKNG	2,199	$12.7M	0.68%
51	AIR PRODS & CHEMS INC	AIIR	45,127	$12.7M	0.68%
52	NXP SEMICONDUCTORS N V	NXPI	58,070	$12.7M	0.67%
53	BORGWARNER INC	BWA	377,006	$12.6M	0.67%
54	ALIBABA GROUP HLDG LTD	BBAAY	111,172	$12.6M	0.67%
55	WISDOMTREE TR	WT	479,755	$12.4M	0.66%
56	CENTENE CORP DEL	CNC	225,483	$12.2M	0.65%
57	VANGUARD SCOTTSDALE FDS	92206C409	153,018	$12.2M	0.65%
58	COSTCO WHSL CORP NEW	22160K105	12,112	$12.0M	0.64%
59	RYANAIR HOLDINGS PLC	RYAOF	207,051	$11.9M	0.63%
60	MGM RESORTS INTERNATIONAL	MGM	346,167	$11.9M	0.63%
61	JPMORGAN CHASE FINL CO LLC	VYLD	379,381	$11.5M	0.61%
62	ISHARES GOLD TR	IAU	184,085	$11.5M	0.61%
63	PROCTER AND GAMBLE CO	742718109	71,853	$11.4M	0.61%
64	KINDER MORGAN INC DEL	EP-PC	382,036	$11.2M	0.60%
65	EXXON MOBIL CORP	XOM	100,482	$10.8M	0.58%
66	VULCAN MATLS CO	929160109	41,505	$10.8M	0.58%
67	INVESCO EXCHANGE TRADED FD T	IVZ	252,206	$10.7M	0.57%
68	CAESARS ENTERTAINMENT INC NE	12769G100	373,583	$10.6M	0.56%
69	POOL CORP	POOL	35,727	$10.4M	0.55%
70	GOLDMAN SACHS PHYSICAL GOLD	38150K103	300,209	$9.8M	0.52%
71	LKQ CORP	LKQ	265,017	$9.8M	0.52%
72	WILLSCOT HLDGS CORP	WSC	356,285	$9.8M	0.52%
73	LOWES COS INC	548661107	39,421	$8.7M	0.47%
74	FIDELITY NATL INFORMATION SV	31620M106	107,032	$8.7M	0.46%
75	CBRE GROUP INC	CBRE	60,933	$8.5M	0.45%
76	RTX CORPORATION	RTX	58,070	$8.5M	0.45%
77	ISHARES TR	464288240	138,775	$8.5M	0.45%
78	TRIP COM GROUP LTD	TRPCF	144,003	$8.4M	0.45%
79	FIRST BUSEY CORP	BUSEP	367,110	$8.4M	0.45%
80	PEPSICO INC	PEP	63,366	$8.4M	0.44%
81	CVS HEALTH CORP	CVS	120,655	$8.3M	0.44%
82	GLOBAL PMTS INC	37940X102	102,201	$8.2M	0.43%
83	VANGUARD SPECIALIZED FUNDS	921908844	39,778	$8.1M	0.43%
84	SCHLUMBERGER LTD	SLB	236,671	$8.0M	0.43%
85	VANGUARD INDEX FDS	922908736	18,188	$8.0M	0.42%
86	PHILLIPS 66	PSX	66,763	$8.0M	0.42%
87	PHILIP MORRIS INTL INC	718172109	42,000	$7.6M	0.41%
88	AIR LEASE CORP	AIIR	129,471	$7.6M	0.40%
89	VANGUARD INDEX FDS	922908769	24,588	$7.5M	0.40%
90	KEYSIGHT TECHNOLOGIES INC	KEYS	44,976	$7.4M	0.39%
91	ICON PLC	ICLR	50,248	$7.3M	0.39%
92	HOME DEPOT INC	HD	19,404	$7.1M	0.38%
93	VANGUARD SCOTTSDALE FDS	92206C870	85,444	$7.1M	0.38%
94	LAMB WESTON HLDGS INC	LW	132,979	$6.9M	0.37%
95	ELASTIC N V	ESTC	79,287	$6.7M	0.36%
96	WORKDAY INC	WDAY	26,412	$6.3M	0.34%
97	VANGUARD INDEX FDS	922908744	34,425	$6.1M	0.32%
98	ERMENEGILDO ZEGNA N V	ZGN	710,238	$6.1M	0.32%
99	ISHARES TR	464287614	14,295	$6.1M	0.32%
100	ASML HOLDING N V	ASMLF	7,529	$6.0M	0.32%
101	NIKE INC	NKE	84,419	$6.0M	0.32%
102	SUN CMNTYS INC	866674104	45,588	$5.8M	0.31%
103	HUMANA INC	HUM	22,774	$5.6M	0.30%
104	DENTSPLY SIRONA INC	XRAY	301,747	$4.8M	0.25%
105	PFIZER INC	PFE	188,201	$4.6M	0.24%
106	ACCENTURE PLC IRELAND	ACN	14,161	$4.2M	0.23%
107	APOLLO GLOBAL MGMT INC	03769M106	29,633	$4.2M	0.22%
108	TRAVELERS COMPANIES INC	TRV	14,857	$4.0M	0.21%
109	INVESCO EXCHANGE TRADED FD T	IVZ	36,048	$3.9M	0.21%
110	PROLOGIS INC.	PLDGP	36,701	$3.9M	0.21%
111	BRISTOL-MYERS SQUIBB CO	CELG-RI	83,290	$3.9M	0.21%
112	FREEPORT-MCMORAN INC	FCX	88,319	$3.8M	0.20%
113	NUCOR CORP	NUE	28,200	$3.7M	0.19%
114	AMGEN INC	AMGN	12,110	$3.4M	0.18%
115	QUANTA SVCS INC	74762E102	8,178	$3.1M	0.16%
116	MONDELEZ INTL INC	609207105	45,394	$3.1M	0.16%
117	ELI LILLY & CO	LLY	3,466	$2.7M	0.14%
118	JOHNSON & JOHNSON	JNJ	17,654	$2.7M	0.14%
119	KIMBERLY-CLARK CORP	KMB	20,600	$2.7M	0.14%
120	YUM BRANDS INC	YUM	17,900	$2.7M	0.14%
121	AMERICAN EXPRESS CO	AXP	7,765	$2.5M	0.13%
122	COCA COLA CO	KO	34,568	$2.4M	0.13%
123	INVESCO EXCHANGE TRADED FD T	IVZ	13,216	$2.4M	0.13%
124	ISHARES TR	464287598	12,215	$2.4M	0.13%
125	CATERPILLAR INC	CAT	6,040	$2.3M	0.12%
126	GOLDMAN SACHS ETF TR	NVGLF	26,890	$2.2M	0.12%
127	FORTIVE CORP	FTV	41,550	$2.2M	0.12%
128	ABBVIE INC	ABBV	11,611	$2.2M	0.11%
129	ORACLE CORP	ORCL-PD	8,906	$1.9M	0.10%
130	ISHARES TR	464287168	14,119	$1.9M	0.10%
131	AMERICAN TOWER CORP NEW	03027X100	8,420	$1.9M	0.10%
132	ISHARES TR	464287200	2,897	$1.8M	0.10%
133	BROADCOM INC	AVGO	6,141	$1.7M	0.09%
134	CHEVRON CORP NEW	CVX	11,217	$1.6M	0.09%
135	ISHARES TR	464287655	7,436	$1.6M	0.09%
136	DEERE & CO	DE	3,050	$1.6M	0.08%
137	CISCO SYS INC	CSCO	22,060	$1.5M	0.08%
138	ISHARES TR	464287465	16,851	$1.5M	0.08%
139	SPDR S&P MIDCAP 400 ETF TR	MDY	2,471	$1.4M	0.07%
140	INVESCO QQQ TR	IVZ	2,529	$1.4M	0.07%
141	GE AEROSPACE	369604301	4,892	$1.3M	0.07%
142	AUTOZONE INC	AZO	333	$1.2M	0.07%
143	VANGUARD TAX-MANAGED FDS	921943858	21,524	$1.2M	0.07%
144	ISHARES U S ETF TR	46431W507	23,400	$1.2M	0.06%
145	CARMAX INC	KMX	17,250	$1.2M	0.06%
146	SPDR SERIES TRUST	78464A607	10,887	$1.0M	0.06%
147	ISHARES TR	464287234	20,910	$1.0M	0.05%
148	VERALTO CORP	VLTO	9,882	$997,588	0.05%
149	KENVUE INC	KVUE	43,500	$910,455	0.05%
150	INTERNATIONAL BUSINESS MACHS	INTR	3,007	$886,403	0.05%
151	WELLS FARGO CO NEW	949746101	10,161	$814,099	0.04%
152	SHELL PLC	RYDAF	11,448	$806,054	0.04%
153	YUM CHINA HLDGS INC	YUMC	17,900	$800,309	0.04%
154	SCHWAB CHARLES CORP	SCHW-PJ	8,634	$787,766	0.04%
155	NEXTERA ENERGY INC	NEE-PW	10,560	$733,075	0.04%
156	OMEGA HEALTHCARE INVS INC	681936100	19,350	$709,178	0.04%
157	ECOLAB INC	ECL	2,463	$663,631	0.04%
158	BP PLC	BPPFF	21,703	$649,571	0.03%
159	VANGUARD INTL EQUITY INDEX F	922042676	13,776	$635,762	0.03%
160	GE VERNOVA INC	GEV	1,185	$627,043	0.03%
161	ISHARES TR	464287499	6,600	$607,002	0.03%
162	ISHARES TR	464287622	1,754	$595,606	0.03%
163	ISHARES TR	464288877	8,800	$558,624	0.03%
164	CSX CORP	CSX	16,785	$547,695	0.03%
165	ISHARES TR	46435G425	3,947	$534,029	0.03%
166	MCDONALDS CORP	MCD	1,700	$496,689	0.03%
167	CF INDS HLDGS INC	125269100	4,983	$458,436	0.02%
168	CADENCE DESIGN SYSTEM INC	CDNS	1,400	$431,410	0.02%
169	J P MORGAN EXCHANGE TRADED F	46641Q332	6,555	$372,652	0.02%
170	VANGUARD STAR FDS	921909768	5,350	$369,632	0.02%
171	ISHARES TR	464287507	5,890	$365,306	0.02%
172	MARRIOTT INTL INC NEW	571903202	1,245	$340,146	0.02%
173	VANGUARD INDEX FDS	922908363	595	$337,978	0.02%
174	ISHARES TR	46434V738	5,060	$334,972	0.02%
175	ISHARES TR	46429B671	5,905	$325,366	0.02%
176	APPLIED MATLS INC	038222105	1,759	$322,020	0.02%
177	VERIZON COMMUNICATIONS INC	VZ	7,165	$310,030	0.02%
178	COMCAST CORP NEW	CCZ	8,608	$307,220	0.02%
179	ISHARES TR	464287150	2,258	$304,920	0.02%
180	MASTERCARD INCORPORATED	MA	539	$302,698	0.02%
181	OGE ENERGY CORP	OGE	6,500	$288,470	0.02%
182	BANK AMERICA CORP	060505104	6,052	$286,381	0.02%
183	CARRIER GLOBAL CORPORATION	CARR	3,908	$286,027	0.02%
184	VANGUARD INDEX FDS	922908751	1,203	$285,191	0.02%
185	ISHARES TR	46432F396	1,130	$271,562	0.01%
186	MORGAN STANLEY	MS-PQ	1,862	$262,281	0.01%
187	TESLA INC	TSLA	810	$257,305	0.01%
188	LINDE PLC	LIN	545	$255,703	0.01%
189	INVESCO EXCHANGE TRADED FD T	IVZ	3,627	$253,564	0.01%
190	GARTNER INC	IT	625	$252,638	0.01%
191	GRAYSCALE BITCOIN TRUST ETF	GBTC	2,905	$246,431	0.01%
192	VANGUARD INDEX FDS	922908629	876	$245,131	0.01%
193	COPART INC	CPRT	4,790	$235,045	0.01%
194	GENERAL MLS INC	370334104	4,500	$233,145	0.01%
195	D R HORTON INC	23331A109	1,747	$225,223	0.01%
196	RH	RH	1,167	$220,575	0.01%
197	TE CONNECTIVITY PLC	TEL	1,289	$217,416	0.01%
198	VANECK ETF TRUST	92189F502	1,956	$215,106	0.01%
199	ISHARES TR	464288224	16,385	$214,807	0.01%
200	ABM INDS INC	000957100	4,400	$207,724	0.01%
201	SELECT SECTOR SPDR TR	81369Y803	810	$205,116	0.01%
202	PLAYSTUDIOS INC	MYPSW	145,050	$190,016	0.01%
203	ASANA INC	ASAN	14,026	$189,351	0.01%
204	NUVEEN CALIFORNIA MUNI VLU F	NU	17,000	$147,560	0.01%
205	HERITAGE COMM CORP	HTBK	10,602	$105,275	0.01%