Osterweis Fund (OSTFX)
Investment Objective
The Fund seeks long-term total returns.
Portfolio Overview as of 3/31/2018
Asset Allocation (% of Total Portfolio)
| Equities | 95.5% | |
| Cash | 3.3 | |
| Fixed Income | 1.2 |
Sector Exposure (% of Equities)
| Health Care | 19.4% | |
| Information Technology | 18.9 | |
| Industrials | 16.5 | |
| Financials | 10.3 | |
| Consumer Discretionary | 9.9 | |
| Materials | 6.0 | |
| Energy | 5.9 | |
| Consumer Staples | 5.6 | |
| Real Estate | 4.1 | |
| Utilities | 3.4 |
Market Cap Exposure (% of Equities)
| Less than $500 million | 0.0% | |
| $500 million to $2 billion | 1.3 | |
| $2 - 5 billion | 7.9 | |
| $5 - 15 billion | 20.4 | |
| $15 - 50 billion | 14.6 | |
| Greater than $50 billion | 55.8 |
Market Cap Characteristics (Equities Only)
| Weighted Average Market Cap | $131.7 billion |
| Median Market Cap | $50.1 billion |
Country Exposure (% of Total Portfolio)
| United States (including cash) | 86.8% | |
| Switzerland | 4.2 | |
| Germany | 4.0 | |
| Great Britain | 3.4 | |
| Canada | 1.6 |
Investment Team
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John S. Osterweis
Chairman & Chief Investment Officer
View Bio
John S. Osterweis
Chairman & Chief Investment Officer
John Osterweis graduated from Bowdoin College (B.A. in Philosophy, cum laude), and Stanford Graduate School of Business (M.B.A. with top honors in Finance).
After graduating from business school, he served as a Senior Analyst concentrating on the forest products and paper industry for several regional brokerage firms and later for E.F. Hutton & Company, Inc. In addition to his activities as an analyst, Mr. Osterweis served as Director of Research for two firms and managed equity portfolios for over ten years.
In late 1982, Mr. Osterweis decided to devote full time to his portfolio management activities, and in April of 1983 launched Osterweis Capital Management.
For a number of years Mr. Osterweis served as Director of the Lucas Museum of Narrative Art, Director on the Stanford Alumni Association Executive Board, Trustee of Bowdoin College, Director and Vice Chairman of Mt. Zion Hospital and Medical Center, and President of the Board of Directors for Summer Search Foundation. He currently serves as Immediate Past Chairman of the San Francisco Ballet Association Director of the San Francisco Free Clinic, and President Emeritus of the San Francisco Ballet Endowment Foundation, as well as Trustee Emeritus of Summer Search Foundation and of Bowdoin College.
Mr. Osterweis is the firm’s Chief Investment Officer and is a member of the firm’s Management Committee. He is a principal of the firm and the lead Portfolio Manager for the core equity and flexible balanced strategies.
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Gregory S. Hermanski
Vice President, Director of Equity Research & Portfolio Manager
View BioGregory S. Hermanski
Vice President, Director of Equity Research & Portfolio Manager
Greg Hermanski graduated from The University of California, Los Angeles (B.A. in Business/Economics).
Prior to joining Osterweis Capital Management in 2002, Mr. Hermanski was a Vice President at Robertson Stephens and Co. where he was in charge of convertible bond research. Prior to that, Mr. Hermanski was a Research Analyst covering convertible, high yield, and distressed securities at Imperial Capital, LLC and a Valuation Consultant for Price Waterhouse, LLC.
Mr. Hermanski is a principal of the firm, the Director of Equity Research and a Portfolio Manager for the core equity strategy.
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Nael Fakhry
Vice President & Portfolio Manager
View BioNael Fakhry
Vice President & Portfolio Manager
Nael Fakhry graduated from Stanford University (B.A. in History, Phi Beta Kappa) and the University of California Berkeley, Walter A. Haas School of Business (M.B.A., C.J. White Scholar).
Prior to joining Osterweis Capital Management in 2011, Mr. Fakhry worked as an Associate at American Securities, a private equity firm, and as an Analyst in the investment banking division of Morgan Stanley.
Mr. Fakhry is a principal of the firm and a Portfolio Manager for the core equity strategy.
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Frank Diebold
Vice President & Senior Analyst
View BioFrank Diebold
Vice President & Senior Analyst
Francis (Frank) Diebold graduated from the University of Pennsylvania (B.A. in Science, Technology and Society, cum laude). Mr. Diebold holds the Chartered Financial Analyst designation.
Prior to joining Osterweis Capital Management in 2015, Mr. Diebold was an Equity Research Associate specializing in oilfield services and equipment at Jefferies LLC. Prior to that, Mr. Diebold was an Analyst covering distressed securities for the investments arm of MetLife.
Mr. Diebold is a principal of the firm and a Senior Analyst for the core equity strategy.
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Dave Sherry
Senior Analyst
View BioDave Sherry
Senior Analyst
Dave Sherry graduated from Princeton University (A.B. in Economics) and from the Anderson School at UCLA (M.B.A). Mr. Sherry holds the Chartered Financial Analyst designation.
Prior to joining Osterweis Capital Management in 2017, Mr. Sherry was a Managing Director at Inflection Partners LLC, where he founded a long/short strategy that focused on the technology sector. Before that, Mr. Sherry held portfolio manager positions at EGM Capital, Partech International and LGT Asset Management. He began his investment career at Franklin Templeton Investments.
Mr. Sherry is a Senior Analyst for the core equity and emerging growth strategies.
The Osterweis Funds are available by prospectus only. The Funds’ investment objectives, risks, charges and expenses must be considered carefully before investing. The summary and statutory prospectuses contain this and other important information about the Funds. You may obtain a summary or statutory prospectus by calling toll free at (866) 236-0050, or by visiting www.osterweis.com/statpro. Please read the prospectus carefully before investing to ensure the Fund is appropriate for your goals and risk tolerance.
Mutual fund investing involves risk. Principal loss is possible.
The Osterweis Fund may invest in medium and smaller sized companies, which involve additional risks such as limited liquidity and greater volatility. The Fund may invest in foreign and emerging market securities, which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks may increase for emerging markets. The Fund may invest in Master Limited Partnerships, which involve risk related to energy prices, demand and changes in tax code. The Fund may invest in debt securities that are un-rated or rated below investment grade. Lower-rated securities may present an increased possibility of default, price volatility or illiquidity compared to higher-rated securities. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.
While the fund is no-load, management fees and other expenses still apply. Please refer to the prospectus for more information.
Osterweis Capital Management is the adviser to the Osterweis Funds, which are distributed by Quasar Distributors, LLC.
