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Name

As of 11/01/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Osterweis Growth & Income Fund

OSTVX | Fund

$17.44

$170 M

2.10%

$0.37

0.92%

Vitals

YTD Return

9.6%

1 yr return

18.0%

3 Yr Avg Return

2.4%

5 Yr Avg Return

8.8%

Net Assets

$170 M

Holdings in Top 10

31.2%

52 WEEK LOW AND HIGH

$17.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.92%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 34.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$1,500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/01/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Osterweis Growth & Income Fund

OSTVX | Fund

$17.44

$170 M

2.10%

$0.37

0.92%

OSTVX - Profile

Distributions

  • YTD Total Return 9.6%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 8.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.44%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Osterweis Growth & Income Fund
  • Fund Family Name
    Osterweis
  • Inception Date
    Aug 31, 2010
  • Shares Outstanding
    9667928
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Carl Kaufman

Fund Description

The Fund invests in both equity and fixed income securities that Osterweis Capital Management, LLC (the “Adviser”) believes can deliver attractive long-term returns and enhanced capital preservation. The Fund also focuses on generating consistent and growing income over time in addition to capital appreciation. The Fund’s investments in any one sector may exceed 25% of its net assets. In executing the strategy, the advisors seek to deliver returns through both income and growth.
Equity Investments
In selecting equity investments, the Adviser focuses on the common stocks of quality growth companies that it believes offer superior investment value and opportunity for total returns. The Adviser focuses on the securities of quality growth companies that it believes to be undervalued or otherwise out-of-favor in the market but that have durable competitive advantages. As such companies achieve greater visibility over time and their stocks are accorded valuations more in line with the growth rates, the Adviser may choose to sell those stocks. The Fund may invest in equity securities of companies of all market capitalization sizes – large, medium and small. In addition to common stock, the Fund may also invest in preferred stock, convertible securities and up to 15% of its assets in publicly traded Master Limited Partnerships (“MLPs”) that are generally energy or natural resource related companies.
Fixed Income Investments
In selecting fixed income investments, the Adviser takes a strategic approach and may invest in a wide array of fixed income securities of various credit qualities and maturities. The Adviser seeks to control risk through rigorous credit analysis, economic analysis, interest rate forecasts and sector trend review, and is not constrained by any particular duration or credit quality targets. The Fund’s fixed income investments may include, but are not limited to, U.S. Federal and Agency obligations, investment grade corporate debt, below investment grade corporate debt, also known as “junk bonds” (higher-risk, lower-rated fixed income securities such as those rated lower than BBB- by S&P or lower than Baa3 by Moody’s), floating-rate debt, convertible debt, mortgage-backed securities (including privately issued mortgage backed securities), asset-backed securities, collateralized debt, municipal debt, foreign debt (including those in emerging markets) and/or depositary receipts, commercial paper and preferred stock. The Fund’s allocation among various fixed income securities is based on the portfolio managers’ assessment of opportunities for total return relative to the risk of each type of investment, but generally there is no limit on any type of fixed income security, meaning that the Fund could have up to 75% of its net assets invested in below investment grade securities, for instance. Un-rated securities may be deemed investment grade, particularly in the case of government agency securities. The Fund may at times be invested in fixed income securities of varying maturities (e.g., long-term, intermediate or short-term) and credit qualities (e.g., investment grade or below investment grade), while at other times the Fund may emphasize one particular maturity or credit quality.
The Adviser will sell a security when it believes doing so is appropriate and consistent with the Fund’s investment objectives and policies or when conditions affecting relevant markets, particular industries or individual issues warrant such action.
Allocation of Investments
The allocation of assets between equity and fixed income securities is a function of the relative opportunity set based on earnings growth, dividend yields, valuations, and fixed income yields. The allocation is reviewed on an ongoing basis and adjustments are made as needed based on the Adviser’s assessment of the risk/reward profiles of individual securities and broad macro risk factors. Under normal market conditions, the minimum allocation to either fixed income (including cash) or equity securities is expected to be 25% of the Fund’s net assets; conversely, the
maximum allocation to either fixed income (including cash) or equity securities at any given time is expected to be 75%.
The Fund may invest up to 50% of its net assets in foreign securities (in developed and in emerging markets), including depositary receipts traded on foreign exchanges. The Fund may also invest, without limitation, in depositary receipts that are traded on domestic exchanges and that evidence ownership of foreign equity securities. The Fund’s investments in any one sector may exceed 25% of its net assets.
Read More

OSTVX - Performance

Return Ranking - Trailing

Period OSTVX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.6% -3.2% 57.3% 65.56%
1 Yr 18.0% -2.8% 64.3% 67.29%
3 Yr 2.4%* -5.5% 13.7% 49.63%
5 Yr 8.8%* -3.3% 19.4% 16.00%
10 Yr 6.9%* 0.9% 11.9% 34.12%

* Annualized

Return Ranking - Calendar

Period OSTVX Return Category Return Low Category Return High Rank in Category (%)
2023 9.6% -12.2% 23.9% 58.44%
2022 -21.2% -34.7% 2.8% 79.91%
2021 9.1% -11.9% 18.1% 25.19%
2020 13.4% -20.9% 39.7% 8.25%
2019 18.0% 0.8% 25.7% 10.62%

Total Return Ranking - Trailing

Period OSTVX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.6% -3.2% 57.3% 65.56%
1 Yr 18.0% -2.8% 64.3% 67.29%
3 Yr 2.4%* -5.5% 13.7% 49.63%
5 Yr 8.8%* -3.3% 19.4% 16.00%
10 Yr 6.9%* 0.9% 11.9% 34.12%

* Annualized

Total Return Ranking - Calendar

Period OSTVX Return Category Return Low Category Return High Rank in Category (%)
2023 14.8% -12.2% 26.8% 34.78%
2022 -15.0% -29.0% 10.9% 51.47%
2021 17.2% -3.0% 27.3% 10.47%
2020 17.5% -19.5% 40.6% 13.33%
2019 22.2% 2.2% 32.7% 17.32%

NAV & Total Return History

OSTVX - Holdings

Concentration Analysis

OSTVX Category Low Category High OSTVX % Rank
Net Assets 170 M 789 K 230 B 78.22%
Number of Holdings 159 2 16015 39.54%
Net Assets in Top 10 55.2 M 577 K 69.8 B 82.25%
Weighting of Top 10 31.23% 10.8% 122.7% 69.99%

Top 10 Holdings

  1. Microsoft Corp 5.90%
  2. Federated Hermes US Treasury Cash Reserves 5.32%
  3. Alphabet Inc 4.15%
  4. Analog Devices Inc 3.49%
  5. Visa Inc 2.24%
  6. Airbus SE 2.18%
  7. Becton Dickinson Co 2.02%
  8. EastGroup Properties Inc 2.00%
  9. Target Corp 1.98%
  10. Waste Connections Inc 1.96%

Asset Allocation

Weighting Return Low Return High OSTVX % Rank
Stocks 		60.39% 0.00% 100.16% 74.03%
Bonds 		29.69% 0.00% 74.58% 33.33%
Cash 		9.93% -7.92% 100.00% 6.78%
Convertible Bonds 		4.58% 0.00% 23.84% 5.09%
Preferred Stocks 		0.00% 0.00% 23.91% 94.66%
Other 		0.00% -42.55% 113.97% 88.17%

Stock Sector Breakdown

Weighting Return Low Return High OSTVX % Rank
Industrials 		19.42% 0.00% 24.37% 2.48%
Technology 		17.82% 0.00% 44.21% 61.08%
Healthcare 		13.24% 0.00% 29.35% 65.01%
Financial Services 		10.27% 0.00% 38.77% 90.82%
Real Estate 		7.59% 0.00% 65.01% 15.16%
Consumer Cyclical 		7.26% 0.00% 19.36% 79.45%
Consumer Defense 		6.79% 0.00% 15.14% 44.02%
Communication Services 		6.68% 0.00% 38.10% 60.64%
Energy 		6.33% 0.00% 85.65% 30.32%
Basic Materials 		4.59% 0.00% 33.35% 35.28%
Utilities 		0.00% 0.00% 99.55% 98.98%

Stock Geographic Breakdown

Weighting Return Low Return High OSTVX % Rank
US 		60.39% 0.00% 100.16% 66.81%
Non US 		0.00% 0.00% 39.06% 93.65%

Bond Sector Breakdown

Weighting Return Low Return High OSTVX % Rank
Corporate 		86.13% 0.00% 98.21% 3.63%
Cash & Equivalents 		9.83% 0.00% 99.92% 5.63%
Government 		8.98% 0.00% 97.26% 86.34%
Derivative 		0.00% -2.87% 42.43% 80.23%
Securitized 		0.00% 0.00% 92.13% 99.27%
Municipal 		0.00% 0.00% 24.80% 96.08%

Bond Geographic Breakdown

Weighting Return Low Return High OSTVX % Rank
US 		29.69% 0.00% 74.58% 32.18%
Non US 		0.00% 0.00% 15.37% 93.51%

OSTVX - Expenses

Operational Fees

OSTVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.92% 0.03% 17.63% 56.24%
Management Fee 0.75% 0.00% 1.83% 88.68%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.83% N/A

Sales Fees

OSTVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

OSTVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 2.00% 32.47%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

OSTVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 34.00% 0.00% 343.00% 44.22%

OSTVX - Distributions

Dividend Yield Analysis

OSTVX Category Low Category High OSTVX % Rank
Dividend Yield 2.10% 0.00% 17.90% 15.62%

Dividend Distribution Analysis

OSTVX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly Quarterly

Net Income Ratio Analysis

OSTVX Category Low Category High OSTVX % Rank
Net Income Ratio 1.44% -2.34% 19.41% 34.51%

Capital Gain Distribution Analysis

OSTVX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

OSTVX - Fund Manager Analysis

Managers

Carl Kaufman

Start Date

Tenure

Tenure Rank

Aug 31, 2010

11.76

11.8%

Mr. Carl P. Kaufman serves as Co-President, Co-Chief Executive Officer, Chief Investment Officer - Strategic Income, Portfolio Manager and Managing Director – Fixed Income for Osterweis Capital Management, Inc. and Osterweis Capital Management, LLC. He joined the Osterweis Capital Management, Inc. as a Portfolio Manager/Analyst in 2002. Prior to working at the Osterweis Capital Management, Inc., Mr. Kaufman worked for Robertson, Stephens and Co., a financial services company, from May 1999 to April 2002. Prior to that, Mr. Kaufman worked for 19 years at Merrill Lynch, where he specialized in convertible and equity securities sales and trading. Mr. Kaufman graduated from Harvard University and attended New York University Graduate School of Business Administration. He is a principal of Osterweis Capital Management.

John Osterweis

Start Date

Tenure

Tenure Rank

Aug 31, 2010

11.76

11.8%

Mr. Osterweis founded Osterweis Capital Management in 1983. For over ten years prior to launching Osterweis Capital Management, Mr. Osterweis managed private equity portfolios while working as an analyst at several brokerage firms. He also served as Director of Research at two of these firms. Mr. Osterweis currently serves as Chairman of the San Francisco Ballet Association, Director of the San Francisco Free Clinic and the Lucas Cultural Arts Museum, President Emeritus of the San Francisco Ballet Endowment Foundation, as well as Trustee Emeritus of Summer Search Foundation and of Bowdoin College. Mr. Osterweis graduated from Bowdoin College (Cum Laude) and Stanford Graduate School of Business (Top Honors in Finance).

Eddy Vataru

Start Date

Tenure

Tenure Rank

Jun 30, 2017

4.92

4.9%

Mr. Eddy Vataru serves as Vice President and Chief Investment Officer - Total Return for Osterweis Capital Management, Inc. Prior to working at the Osterweis Capital Management, Inc, Mr. Vataru was the Managing Director, Senior Portfolio Manager at Incapture, LLC from 2013 to 2015. Before that, he was Director, Senior Portfolio Manager at Citadel, LLC from 2011 to 2012. He also served as Managing Director and Head of U.S. Rates/Mortgages at BlackRock (formerly, Barclays Global Investors) from 2009 to 2011. Mr. Vataru graduated from California Institute of Technology (B.S. Chemistry & Economics) and Olin Business School at Washington University in St. Louis (MBA).

Jim Callinan

Start Date

Tenure

Tenure Rank

Jun 30, 2018

3.92

3.9%

Jim Callinan graduated from Harvard College (B.A. Economics), New York University (M.S. Accounting) and Harvard Business School (M.B.A.). Mr. Callinan holds the Chartered Financial Analyst designation. Mr. James L. Callinan serves as Vice President and Portfolio Manager for the Adviser and Osterweis Capital Management, Inc. (an affiliate of the Adviser).Prior to joining Osterweis Capital Management in 2016, Mr. Callinan was the CEO of Callinan Asset Management and Portfolio Manager of the Emerging Growth Partners, LP. Before that, he was Co-Founder & Chief Investment Officer at RS Investments and founded the RS Concentrated Small Cap Growth investment strategy. He also co-founded the RS Growth Group LLC at Robertson Stephens Investment Management in 1996 and managed the RS Emerging Growth Fund from 1996 until 2010. He began his career at Putnam Investments as an equity research analyst in 1987 and served as portfolio manager for the Putnam OTC Emerging Growth Fund from 1994 to 1996. Mr. Callinan is a Board and Finance committee member of the Bay Area Make-A-Wish Foundation, a member of the Jumpstart Northern California Advisory Board, the Weatherbie Capital Advisory Board, the President’s Committee on Communication for Harvard University, the Pacific Union Club Investment Committee and the Friends of Harvard Football Board. Mr. Callinan is a Portfolio Manager for the Emerging Opportunity strategy.

Larry Cordisco

Start Date

Tenure

Tenure Rank

Apr 01, 2019

3.17

3.2%

Larry Cordisco graduated from the University of California, Santa Barbara (B.A. in Political Science), Georgetown University (M.P.P.) and Columbia Business School (M.B.A.). Before joining Osterweis in 2019, he was a Co-Portfolio Manager of the Meridian Contrarian Fund at Arrowmark Partners/Meridian Funds. Prior to co-managing the Contrarian Fund, Larry was an equity analyst for 11 years, most recently as Vice President of Investment Research for the Meridian Contrarian Fund. Before that he was an analyst within the technology group at Banc of America Securities. He was also a business and technology consultant for Accenture in San Francisco and began his professional career in the public sector as a District Aide for Congressman George Miller. Mr. Cordisco is a Senior Portfolio Manager for the core equity strategy and portfolio manager for the flexible balanced strategy.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 34.51 6.36 2.41

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