OSTERWEIS CAPITAL MANAGEMENT INC

CIK

1007524

Location

SAN FRANCISCO, CA

Portfolio Value

Mid $1,534,024,366

Diversification

Diversified

Filing Date

Global Rank

#1,378 / 8,621 ▼ 26 · as of Mar 2026

Top Industry

Semiconductors 11.2%

3Y Alpha vs SPY

-8.4%

Period ended 4 months ago

Filed May 15, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+37.3%

SPY

+67.9%

Annualised alpha

-7.7%

Max drawdown

−21.1%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

201 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

3.5%

−1.7 pts

Top 5

16.4%

−3.2 pts

Top 10

30.0%

−2.4 pts

HHI

187

Diversified−15

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	26.7%	$409,617,271	46
Industrials	17.5%	$268,154,333	37
Healthcare	17.2%	$263,377,684	30
Financial Services	12.9%	$197,844,923	30
Consumer Cyclical	10.0%	$152,723,702	15
Real Estate	5.9%	$91,161,371	8
Consumer Defensive	2.7%	$41,474,853	8
Utilities	2.3%	$35,018,492	3
Basic Materials	2.2%	$33,595,330	7
Energy	1.6%	$24,674,414	7
Communication Services	1.0%	$16,073,142	6
Unclassified	0.0%	$308,851	4

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
BSX	Boston Scientific Corp	+172,712	442,192	$27,747,547
ATRC	AtriCure, Inc.	+146,070	349,645	$9,975,371
ABBV	AbbVie Inc.	+103,727	107,478	$23,375,389
NVDA	Nvidia Corp	+96,172	228,679	$39,881,617
CDNL	Cardinal Infrastructure Group Inc.	+93,711	169,936	$6,738,812
VCEL	Vericel Corp	+78,070	401,045	$12,901,617
HNGE	Hinge Health, Inc.	+38,010	210,270	$8,108,011
RGEN	Repligen Corp	+37,585	92,220	$10,865,360
LTH	Life Time Group Holdings, Inc.	+36,895	519,560	$13,996,946
NXT	Nextpower Inc.	+34,085	82,335	$9,925,484
VSEC	Vse Corp	+24,164	72,624	$13,391,865
AX	Axos Financial, Inc.	+21,055	163,740	$13,932,636
AORT	Artivion, Inc.	+19,490	240,217	$8,796,746
AFRM	Affirm Holdings, Inc.	+14,551	60,760	$2,784,023
GH	Guardant Health, Inc.	+13,010	148,946	$13,758,142
TWLO	Twilio Inc	+10,715	65,930	$8,295,312
PLMR	Palomar Holdings, Inc.	+10,580	68,090	$8,136,755
WDAY	Workday, Inc.	+6,743	12,743	$1,655,570
NOVT	Novanta Inc	+5,355	107,050	$12,643,675
WCN	Waste Connections, Inc.	+3,097	240,762	$39,109,378
CECO	Ceco Environmental Corp	+2,935	226,617	$13,501,840
DHR	Danaher Corp /De/	+2,856	190,961	$36,206,204
V	Visa Inc.	+2,659	143,901	$43,492,637
JPM	Jpmorgan Chase & Co	+2,458	141,453	$41,609,813
ICE	Intercontinental Exchange, Inc.	+2,345	176,898	$27,822,517
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CHYM	Chime Financial, Inc.	−217,300	205,050	$3,840,586
PRCT	PROCEPT BioRobotics Corp	−136,155	101,325	$2,534,138
CRM	Salesforce, Inc.	−97,246	502	$93,708
AMZN	Amazon Com Inc	−77,268	259,065	$53,955,466
TTAN	ServiceTitan, Inc.	−57,575	59,480	$3,774,600
MOD	Modine Manufacturing Co	−54,998	34,224	$7,416,683
LSCC	Lattice Semiconductor Corp	−54,655	105,910	$9,824,211
LAMR	Lamar Advertising Co/New	−54,562	201,236	$25,488,551
AWK	American Water Works Company, Inc.	−46,663	256,432	$34,897,830
TWST	Twist Bioscience Corp	−45,720	211,158	$10,034,228
SIMO	Silicon Motion Technology CORP	−37,675	18,660	$2,095,331
FSV	FirstService Corp	−37,470	64,884	$9,014,982
USFD	US Foods Holding Corp.	−37,453	354,083	$32,649,993
KEYS	Keysight Technologies, Inc.	−34,970	115,393	$32,583,520
MSFT	Microsoft Corp	−31,958	144,666	$53,551,012
APD	Air Products & Chemicals, Inc.	−28,862	114,446	$33,245,417
BRO	Brown & Brown, Inc.	−28,435	397,311	$25,908,649
AVGO	Broadcom Inc.	−27,022	155,094	$48,003,143
AME	Ametek Inc/	−26,311	116,894	$25,057,396
TPB	Turning Point Brands, Inc.	−25,680	58,875	$5,109,761
MTSI	MACOM Technology Solutions Holdings, Inc.	−24,427	36,543	$8,115,104
TRNO	Terreno Realty Corp	−19,674	555,710	$34,131,707
LHX	L3harris Technologies, Inc. /De/	−19,202	89,868	$31,017,939
CWST	Casella Waste Systems Inc	−12,465	148,270	$11,763,741
AMAT	Applied Materials Inc /De	−10,745	142,132	$48,579,295
No positions match the current search.

New Positions

Positions the filer opened this quarter

13 positions

Ticker	Company	Shares	Value
PSA	Public Storage	78,807	$21,347,239
SLB	Slb Limited/Nv	373,334	$19,185,634
DOCN	DigitalOcean Holdings, Inc.	115,965	$9,947,477
BOOT	Boot Barn Holdings, Inc.	58,680	$8,588,404
LOAR	Loar Holdings Inc.	138,370	$7,927,217
TRNS	Transcat Inc	100,462	$7,378,933
ALHC	Alignment Healthcare, Inc.	346,985	$6,113,875
COGT	Cogent Biosciences, Inc.	150,810	$5,804,676
FSLY	Fastly, Inc.	125,495	$3,646,884
CLX	Clorox Co /De/	4,411	$457,111
RJF	Raymond James Financial Inc	560	$81,082
ELS	Equity Lifestyle Properties Inc	1,008	$62,919
CSGP	Costar Group, Inc.	326	$13,150
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
INTU	Intuit Inc.	43,190	$28,609,919
VITL	Vital Farms, Inc.	335,630	$10,720,022
HURN	Huron Consulting Group Inc.	48,660	$8,413,800
WAY	Waystar Holding Corp.	253,275	$8,294,756
GWRE	Guidewire Software, Inc.	37,644	$7,566,820
MGY	Magnolia Oil & Gas Corp	325,647	$7,128,412
AGYS	Agilysys Inc	39,420	$4,684,672
AMPX	Amprius Technologies, Inc.	454,830	$3,588,608
BRZE	Braze, Inc.	69,305	$2,376,468
LEVI	Levi Strauss & Co	25,000	$518,500
SO	Southern Co	1,981	$172,743
DUK	Duke Energy CORP	1,395	$163,507
T	At&T Inc.	6,234	$154,852
CI	Cigna Group	432	$118,899
MKL	Markel Group Inc.	53	$113,931
KKR	KKR & Co. Inc.	872	$111,162
MCD	Mcdonalds Corp	314	$95,967
TKO	TKO Group Holdings, Inc.	327	$68,343
KO	Coca Cola Co	872	$60,961
LOW	Lowes Companies Inc	236	$56,913
AJG	Arthur J. Gallagher & Co.	197	$50,981
CASY	Caseys General Stores Inc	88	$48,638
BAC	Bank Of America Corp /De/	878	$48,290
ADP	Automatic Data Processing Inc	185	$47,587
PODD	Insulet Corp	163	$46,331
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

201 positions · $1,534,024,366 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 201 positions by value · page 1 of 5

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	259,065	-77,268	$53,955,466	−30.5%	3.52%
MSFT	Microsoft Corp Technology	Reduced	144,666	-31,958	$53,551,012	−37.3%	3.49%
AMAT	Applied Materials Inc /De Technology	Reduced	142,132	-10,745	$48,579,295	+23.6%	3.17%
AVGO	Broadcom Inc. Technology	Reduced	155,094	-27,022	$48,003,143	−23.8%	3.13%
ADI	Analog Devices Inc Technology	Reduced	150,259	-1,677	$47,803,397	+16.0%	3.12%
V	Visa Inc. Financial Services	Added	143,901	+2,659	$43,492,637	−12.2%	2.84%
AZO	Autozone Inc Consumer Cyclical	Added	12,601	+1,274	$42,563,405	+10.8%	2.77%
JPM	Jpmorgan Chase & Co Financial Services	Added	141,453	+2,458	$41,609,813	−7.1%	2.71%
LLY	ELI LILLY & Co Healthcare	Added	44,788	+10	$41,194,658	−14.4%	2.69%
NVDA	Nvidia Corp Technology	Added	228,679	+96,172	$39,881,617	+61.4%	2.60%
WCN	Waste Connections, Inc. Industrials	Added	240,762	+3,097	$39,109,378	−6.2%	2.55%
DHR	Danaher Corp /De/ Healthcare	Added	190,961	+2,856	$36,206,204	−15.9%	2.36%
AWK	American Water Works Company, Inc. Utilities	Reduced	256,432	-46,663	$34,897,830	−11.8%	2.27%
TRNO	Terreno Realty Corp Real Estate	Reduced	555,710	-19,674	$34,131,707	+1.0%	2.22%
APD	Air Products & Chemicals, Inc. Basic Materials	Reduced	114,446	-28,862	$33,245,417	−6.1%	2.17%
USFD	US Foods Holding Corp. Consumer Defensive	Reduced	354,083	-37,453	$32,649,993	+10.7%	2.13%
KEYS	Keysight Technologies, Inc. Technology	Reduced	115,393	-34,970	$32,583,520	+6.6%	2.12%
LHX	L3harris Technologies, Inc. /De/ Industrials	Reduced	89,868	-19,202	$31,017,939	−3.1%	2.02%
PGR	Progressive Corp/Oh/ Financial Services	Reduced	144,766	-6,512	$28,698,411	−16.7%	1.87%
ICE	Intercontinental Exchange, Inc. Financial Services	Added	176,898	+2,345	$27,822,517	−1.6%	1.81%
BSX	Boston Scientific Corp Healthcare	Added	442,192	+172,712	$27,747,547	+8.0%	1.81%
FERG	Ferguson Enterprises Inc. /DE/ Industrials	Reduced	117,703	-1,555	$27,455,401	+3.4%	1.79%
BRO	Brown & Brown, Inc. Financial Services	Reduced	397,311	-28,435	$25,908,649	−23.6%	1.69%
LAMR	Lamar Advertising Co/New Real Estate	Reduced	201,236	-54,562	$25,488,551	−21.3%	1.66%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	Reduced	322,243	-1,376	$25,347,634	+6.4%	1.65%
AME	Ametek Inc/ Industrials	Reduced	116,894	-26,311	$25,057,396	−14.8%	1.63%
DE	Deere & Co Industrials	Reduced	43,491	-43	$24,498,479	+20.9%	1.60%
ABBV	AbbVie Inc. Healthcare	Added	107,478	+103,727	$23,375,389	+2627.4%	1.52%
BA	Boeing Co Industrials	Added	109,106	+405	$21,715,366	−8.0%	1.42%
PSA	Public Storage Real Estate	NEW	78,807	NEW	$21,347,239	NEW	1.39%
LH	Labcorp Holdings Inc. Healthcare	Added	76,983	+920	$20,539,833	+7.6%	1.34%
SLB	Slb Limited/Nv Energy	NEW	373,334	NEW	$19,185,634	NEW	1.25%
NVR	Nvr Inc Consumer Cyclical	Added	2,725	+100	$17,957,286	−6.2%	1.17%
SNPS	Synopsys Inc Technology	Added	44,034	+783	$17,458,599	−14.1%	1.14%
META	Meta Platforms, Inc. Communication Services	Reduced	25,052	-195	$14,333,000	−14.0%	0.93%
LTH	Life Time Group Holdings, Inc. Consumer Cyclical	Added	519,560	+36,895	$13,996,946	+9.1%	0.91%
AX	Axos Financial, Inc. Financial Services	Added	163,740	+21,055	$13,932,636	+13.3%	0.91%
GH	Guardant Health, Inc. Healthcare	Added	148,946	+13,010	$13,758,142	−0.9%	0.90%
CECO	Ceco Environmental Corp Industrials	Added	226,617	+2,935	$13,501,840	+0.9%	0.88%
VSEC	Vse Corp Industrials	Added	72,624	+24,164	$13,391,865	+60.0%	0.87%
VCEL	Vericel Corp Healthcare	Added	401,045	+78,070	$12,901,617	+10.9%	0.84%
NVS	Novartis AG Healthcare	Reduced	83,792	-3,891	$12,799,227	+5.9%	0.83%
NOVT	Novanta Inc Technology	Added	107,050	+5,355	$12,643,675	+4.5%	0.82%
CPAY	Corpay, Inc. Technology	Reduced	41,867	-1,555	$12,182,878	−6.8%	0.79%
CWST	Casella Waste Systems Inc Industrials	Reduced	148,270	-12,465	$11,763,741	−25.3%	0.77%
AAPL	Apple Inc. Technology	Reduced	45,576	-212	$11,566,732	−7.1%	0.75%
RGEN	Repligen Corp Healthcare	Added	92,220	+37,585	$10,865,360	+21.4%	0.71%
GKOS	GLAUKOS Corp Healthcare	Reduced	94,863	-6,750	$10,212,950	−11.0%	0.67%
TWST	Twist Bioscience Corp Healthcare	Reduced	211,158	-45,720	$10,034,228	+23.1%	0.65%
ATRC	AtriCure, Inc. Healthcare	Added	349,645	+146,070	$9,975,371	+23.9%	0.65%