Osterweis Fund
Portfolio Overview (as of 3/31/2012)
Asset Allocation (% of Total Portfolio)
| Equities | 89.7% | |
| Cash & Accruals | 5.4 | |
| Fixed Income | 3.6 | |
| Bonds Maturing Within One Year | 1.3 |
Sector Exposure (% of Equities)
| Health Care | 21.6% | |
| Energy | 15.6 | |
| Information Technology | 11.9 | |
| Industrials | 11.2 | |
| Consumer Staples | 11.1 | |
| Consumer Discretionary | 9.7 | |
| Financials | 9.1 | |
| Utilities | 6.3 | |
| Materials | 3.5 |
Market Cap Allocation (% of Equities)
| Less than $500 million | 0.0% | |
| $500 million to $2 billion | 7.4 | |
| $2 - 5 billion | 29.9 | |
| $5 - 15 billion | 23.0 | |
| $15 - 50 billion | 17.2 | |
| Greater than $50 billion | 22.5 |
Market Cap Characteristics (Equities Only)
| Weighted Average Market Cap | $30.3 billion |
| Median Market Cap | $6.0 billion |
Country Exposure (% of Total Portfolio)
| United States (including cash & accruals) | 81.0% | |
| Great Britain | 4.2 | |
| Brazil | 3.4 | |
| Canada | 3.3 | |
| Germany | 3.1 | |
| Netherlands | 2.9 | |
| Switzerland | 2.1 |
Number of Holdings
| Equities | 35 |
| Bonds | 5 |
Top 10 Holdings (% of Total Portfolio)
| Enterprise Products Partners | 3.62 |
| Kinder Morgan Inc. | 3.58 |
| Valeant Pharma Intl. Inc. | 3.31 |
| Viacom Inc. - B | 3.16 |
| Crown Holdings Inc. | 3.14 |
| American Water Works Co. Inc. | 3.14 |
| Bayer AG - Sponsored ADR | 3.07 |
| Cinemark Holdings Inc. | 3.06 |
| HealthSouth Corp. | 3.04 |
| Spirit Aerosystems Holdings - A | 3.04 |
| Total | 32.16 |
Complete Holdings (as of 3/31/2012)
Complete holdings are generally available ten business days following quarter end.
The Osterweis Fund’s holdings may change at any time due to ongoing portfolio management. References to specific investments should not be construed as a recommendation to buy or sell the securities by the Fund or Osterweis Capital Management. Current and future holdings are subject to risk.
Fiscal Year Turnover
| Year Ended March 31 |
Turnover |
|---|---|
| 2011 | 39% |
| 2010 | 26 |
| 2009 | 63 |
| 2008 | 56 |
| 2007 | 50 |
| 2006 | 30 |
| 2005 | 38 |
| 2004 | 58 |
| 2003 | 34 |
| 2002 | 49 |
| 2001 | 32 |
| 2000 | 39 |
| 1999 | 31 |
| 1998 | 26 |
| 1997 | 41 |
| 1996 | 57 |
| 1995 | 29 |
| 1994* | 35 |
Not a full year, only covers 10/1/93-3/31/94
This net expense ratio is an annualized figure based on actual expenses accrued during the as-of month. This figure does not include any Acquired Fund Fees and Expenses (AFFE) that may be included in the Total Fund Expenses shown in the Prospectus and elsewhere on this website. During the period noted, there were no fee waivers or expense reimbursements in effect for the Osterweis Fund. The gross expense ratio reflects the expense ratio before any fee waivers or reimbursements and is the figure noted in the current prospectus.
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 clicking here. Please read the prospectus carefully before investing to ensure the Fund is appropriate for your goals and risk tolerance.
Mutual fund investing involves risks. Loss of principal 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 securities, which involve political, economic & currency risks, greater volatility, and differences in accounting methods. The Fund may invest in Master Limited Partnerships, which involve risk related to energy prices and demand. The Fund may invest in debt securities that are un-rated or rated below investment grade. Such 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.