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Livermore
Livermore
ZHEN

Osborne Partners Capital Management, LLC

SEC CIK
0001005607
Latest filing
Aug 4, 2026

The latest 13F from Osborne Partners Capital Management, LLC covers Q2 2026 (filed Aug 4, 2026): 203 long positions worth $1.80B. The top 10 holdings make up 33.3% of the portfolio, and the largest is Vanguard Ftse All-World Ex-US Index Fund at 8.5%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
17
Est. +$30.9M
Added
52
Est. +$11.8M
Reduced
92
Est. −$298.4M
Sold out
11
Est. −$36.4M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Ftse All-World Ex-US Index Fund922042775
    8.5%$153.8M
  2. Vanguard Ftse Emerging Markets ETF922042858
    3.9%$70.8M
  3. AAPLApple Inc.
    3.8%$69.3MHistory
  4. MSFTMicrosoft Corp
    2.9%$52.6MHistory
  5. iShares Inc46434G822
    2.7%$49.5M

Share of portfolio

Top 5 holdings and the other 198 positions, by share of portfolio value

  1. Vanguard Ftse All-World Ex-US Index Fund8.5%
  2. Vanguard Ftse Emerging Markets ETF3.9%
  3. AAPL3.8%
  4. MSFT2.9%
  5. iShares Inc2.7%
  6. Other 198 positions78.0%

Biggest buys

New and added positions, by estimated amount bought

  1. CCLCarnival Corp Ltd.
    +$15.6MNewHistory
  2. MGRCMcGrath Rentcorp
    +$4.38MNewHistory
  3. DGXQuest Diagnostics Inc
    +$3.95MNewHistory
  4. IRIngersoll Rand Inc.
    +$3.32MNewHistory
  5. Invesco Exch Traded FD Tr II46138G508
    +$2.85MAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. CCLCarnival Corp Ltd.
    +0.87 pp0.0% → 0.9%History
  2. iShares Inc46434G822
    +0.39 pp2.4% → 2.7%
  3. Vanguard Intl Equity Index F922042874
    +0.29 pp2.1% → 2.4%
  4. MGRCMcGrath Rentcorp
    +0.24 pp0.0% → 0.2%History
  5. UNHUnitedHealth Group Inc
    +0.23 pp0.4% → 0.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. AMDAdvanced Micro Devices Inc
    −$32.3MReducedHistory
  2. PANWPalo Alto Networks Inc
    −$28.6MReducedHistory
  3. iShares Tr46436E718
    −$24.4MReduced
  4. BRK.BBerkshire Hathaway Inc
    −$15.1MReducedHistory
  5. Carnival Corp Ltd.14365C103
    −$14.2MSold out

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. iShares Tr46436E718
    −1.24 pp2.3% → 1.1%
  2. XOMExxonMobil Holdings Corp
    −0.81 pp0.9% → 0.1%History
  3. WMTWalmart Inc.
    −0.79 pp0.8% → <0.1%History
  4. BRK.BBerkshire Hathaway Inc
    −0.75 pp0.9% → 0.1%History
  5. Carnival Corp Ltd.14365C103
    −0.75 pp0.7% → 0.0%

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.80B
−$91.2M (−4.8%) vs. prior quarter
Positions
203
+6 vs. prior quarter
Top 10 concentration
33.3%
Top 10 as share of value
Turnover
2.3%
Q2 2026, one quarter
Average holding period
19.0 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.97B (Q3 2025)

Q1 2021: $1.10BQ2 2021: $1.21BQ3 2021: $1.25BQ4 2021: $1.37BQ1 2022: $1.35BQ2 2022: $1.31BQ3 2022: $1.20BQ4 2022: $1.27BQ1 2023: $1.36BQ2 2023: $1.39BQ3 2023: $1.35BQ4 2023: $1.53BQ1 2024: $1.62BQ2 2024: $1.67BQ3 2024: $1.76BQ4 2024: $1.73BQ1 2025: $1.73BQ2 2025: $1.88BQ3 2025: $1.97BQ4 2025: $1.94BQ1 2026: $1.89BQ2 2026: $1.80B
Q1 2021Q2 2026
13F filings of Osborne Partners Capital Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 4, 2026203$1.80BVanguard Ftse All-World Ex-US Index FundVanguard Ftse Emerging Markets ETFAAPLvs. Q1 2026SEC
Q1 2026Apr 27, 2026197$1.89BVanguard Ftse All-World Ex-US Index FundAAPLVanguard Ftse Emerging Markets ETFvs. Q4 2025SEC
Q4 2025Jan 27, 2026196$1.94BVanguard Ftse All-World Ex-US Index FundAAPLMSFTvs. Q3 2025SEC
Q3 2025Oct 30, 2025206$1.97BVanguard Ftse All-World Ex-US Index FundAAPLMSFTvs. Q2 2025SEC
Q2 2025Aug 12, 2025205$1.88BVanguard Ftse All-World Ex-US Index FundMSFTAAPLvs. Q1 2025SEC
Q1 2025Apr 21, 2025212$1.73BVanguard Ftse All-World Ex-US Index FundAAPLVanguard Ftse Emerging Markets ETFvs. Q4 2024SEC
Q4 2024Jan 24, 2025218$1.73BVanguard Ftse All-World Ex-US Index FundAAPLMSFTvs. Q3 2024SEC
Q3 2024Oct 23, 2024221$1.76BVanguard Ftse All-World Ex-US Index FundAAPLMSFTvs. Q2 2024SEC
Q2 2024Jul 22, 2024218$1.67BVanguard Ftse All-World Ex-US Index FundMSFTAAPLvs. Q1 2024SEC
Q1 2024Apr 25, 2024201$1.62BVanguard Ftse All-World Ex-US Index FundMSFTAAPLvs. Q4 2023SEC
Q4 2023Jan 22, 2024208$1.53BVanguard Ftse All-World Ex-US Index FundAAPLMSFTvs. Q3 2023SEC
Q3 2023Oct 26, 2023195$1.35BVanguard Ftse All-World Ex-US Index FundAAPLVanguard Ftse Emerging Markets ETFvs. Q2 2023SEC
Q2 2023Jul 20, 2023205$1.39BVanguard Ftse All-World Ex-US Index FundAAPLMSFTvs. Q1 2023SEC
Q1 2023Apr 24, 2023209$1.36BVanguard Ftse All-World Ex-US Index FundAAPLVanguard Ftse Emerging Markets ETFvs. Q4 2022SEC
Q4 2022Jan 24, 2023204$1.27BVanguard Ftse All-World Ex-US Index FundAAPLVanguard Ftse Emerging Markets ETFvs. Q3 2022SEC
Q3 2022Oct 27, 2022200$1.20BVanguard Ftse All-World Ex-US Index FundAAPLVanguard Ftse Emerging Markets ETFvs. Q2 2022SEC
Q2 2022Aug 1, 2022203$1.31BVanguard Ftse All-World Ex-US Index FundMSFTAAPLvs. Q1 2022SEC
Q1 2022May 5, 2022205$1.35BVanguard Ftse All-World Ex-US Index FundVanguard Ftse Emerging Markets ETFAAPLvs. Q4 2021SEC
Q4 2021Jan 31, 2022216$1.37BVanguard Ftse All-World Ex-US Index FundAAPLVanguard Ftse Emerging Markets ETFvs. Q3 2021SEC
Q3 2021Oct 25, 2021195$1.25BVanguard Ftse All-World Ex-US Index FundVanguard Ftse Emerging Markets ETFAAPLvs. Q2 2021SEC
Q2 2021Aug 9, 2021200$1.21BVanguard Ftse All-World Ex-US Index FundVanguard Ftse Emerging Markets ETFAAPLvs. Q1 2021SEC
Q1 2021Aug 9, 2021Amended192$1.10BVanguard Ftse All-World Ex-US Index FundVanguard Ftse Emerging Markets ETFAAPL–SEC