OSTERWEIS CAPITAL MANAGEMENT INC

Registered adviser

CIK

1007524

Location

SAN FRANCISCO, CA

Portfolio Value

Mid $1,862,306,955

Diversification

Diversified

Reports for

OSTERWEIS CAPITAL MANAGEMENT LLC/CA

Filing Date

Global Rank

#1,666 / 8,817 ▼ 41

Top Industry

Semiconductors 11.0%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 105421

Roster of Oct 1, 2026

Regulatory AUM

$439,351,047

Main clients

Individuals and high net worth (63% of AUM)

Registered funds advised

1 series (0 index, 0 ETFs)

$148,125,317 net assets· N-CEN Mar 31, 2026

LEI

549300ABTST3N0SXPE33

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$439,351,047	Individuals and high net worth (63%)
Apr 2025 to Mar 2026	$452,327,348	Individuals and high net worth (64%)
Apr 2024 to Mar 2025	$445,333,088	Individuals and high net worth (64%)
May 2023 to Mar 2024	$403,800,136	Individuals and high net worth (64%)
Apr 2023	$403,800,136	Individuals and high net worth (64%)
Aug 2022 to Mar 2023	$445,354,742	Individuals and high net worth (62%)

4 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 33.1%, 49.2 effective positions, active share 68.2% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

45.9% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 13.7 quarters (12+), a floor since 27.1% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 68.2%; sector active share 17.3% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

223 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

6.2%

+0.4 pts

Top 5

19.2%

+0.9 pts

Top 10

32.7%

+1.2 pts

HHI

199

Diversified+1

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	29.1%	$542,214,509	45
Industrials	16.0%	$298,835,331	39
Healthcare	15.9%	$295,963,721	31
Financial Services	11.1%	$206,796,260	31
Consumer Cyclical	9.4%	$174,194,619	15
Communication Services	7.0%	$129,690,897	7
Real Estate	4.6%	$84,801,207	8
Consumer Defensive	2.5%	$46,170,765	8
Utilities	1.8%	$32,883,462	3
Energy	1.2%	$21,713,936	7
Basic Materials	1.1%	$20,866,594	7
Unclassified	0.4%	$8,175,654	22

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
BSX	Boston Scientific Corp	+266,757	708,949	$30,257,943
ALHC	Alignment Healthcare, Inc.	+257,015	604,000	$14,381,240
AAPL	Apple Inc.	+194,242	239,818	$69,393,735
ATRC	AtriCure, Inc.	+151,710	501,355	$14,027,912
AFRM	Affirm Holdings, Inc.	+96,845	157,605	$12,852,687
TTAN	ServiceTitan, Inc.	+76,100	135,580	$9,586,861
PRCT	PROCEPT BioRobotics Corp	+65,770	167,095	$3,773,005
LOAR	Loar Holdings Inc.	+50,495	188,865	$15,224,407
WCN	Waste Connections, Inc.	+37,736	278,498	$46,422,831
BA	Boeing Co	+37,686	146,792	$31,776,063
TRNS	Transcat Inc	+32,335	132,797	$12,319,577
ABBV	AbbVie Inc.	+27,437	134,915	$33,950,010
FSV	FirstService Corp	+26,855	91,739	$13,037,029
SNPS	Synopsys Inc	+23,565	67,599	$30,153,885
BOOT	Boot Barn Holdings, Inc.	+22,335	81,015	$13,308,334
SPXC	SPX Technologies, Inc.	+22,126	71,108	$17,433,548
COGT	Cogent Biosciences, Inc.	+21,275	172,085	$6,659,689
RGEN	Repligen Corp	+18,775	110,995	$15,144,157
TPB	Turning Point Brands, Inc.	+17,201	76,076	$6,452,005
TWLO	Twilio Inc	+14,660	80,590	$16,628,134
CDNL	Cardinal Infrastructure Group Inc.	+9,580	179,516	$16,910,407
MU	Micron Technology Inc	+8,774	8,964	$10,347,055
KLAC	Kla Corp	+1,962	2,180	$657,727
AX	Axos Financial, Inc.	+1,945	165,685	$16,136,062
NVR	Nvr Inc	+1,237	3,962	$26,994,690
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CECO	Ceco Environmental Corp	−174,845	51,772	$4,697,791
HNGE	Hinge Health, Inc.	−106,725	103,545	$8,594,235
ICE	Intercontinental Exchange, Inc.	−100,154	76,744	$9,447,953
TWST	Twist Bioscience Corp	−99,700	111,458	$11,466,799
LTH	Life Time Group Holdings, Inc.	−90,350	429,210	$17,528,936
KEYS	Keysight Technologies, Inc.	−73,070	42,323	$14,816,012
LHX	L3harris Technologies, Inc.	−67,601	22,267	$6,470,567
AMAT	Applied Materials Inc	−60,814	81,318	$58,792,914
PSA	Public Storage	−57,844	20,963	$6,672,731
GKOS	GLAUKOS Corp	−54,324	40,539	$5,665,730
LH	Labcorp Holdings Inc.	−51,743	25,240	$7,067,200
GH	Guardant Health, Inc.	−51,626	97,320	$14,600,919
TRNO	Terreno Realty Corp	−47,043	508,667	$32,946,361
APD	Air Products & Chemicals, Inc.	−44,017	70,429	$20,648,373
CHYM	Chime Financial, Inc.	−40,160	164,890	$3,376,947
LSCC	Lattice Semiconductor Corp	−26,045	79,865	$12,216,150
CWST	Casella Waste Systems Inc	−25,215	123,055	$11,932,643
DOCN	DigitalOcean Holdings, Inc.	−24,430	91,535	$14,373,741
AVGO	Broadcom Inc.	−19,736	135,358	$51,131,484
CP	Canadian Pacific Kansas City Ltd	−17,491	304,752	$26,406,760
ADI	Analog Devices Inc	−15,090	135,169	$53,685,071
MTSI	MACOM Technology Solutions Holdings, Inc.	−11,147	25,396	$9,659,876
SLB	Slb Limited	−9,862	363,472	$16,897,812
SITM	SITIME Corp	−8,467	16,670	$12,428,485
NXT	Nextpower Inc.	−7,660	74,675	$8,896,779
No positions match the current search.

New Positions

Positions the filer opened this quarter

14 positions

Ticker	Company	Shares	Value
AJG	Arthur J. Gallagher & Co.	91,965	$21,112,405
BROS	Dutch Bros Inc.	201,610	$14,477,614
SMTC	Semtech Corp	60,445	$9,783,023
NAVN	Navan, Inc.	337,640	$7,721,826
BAC	Bank Of America Corp	128,256	$7,308,026
DAVE	Dave Inc.	17,672	$6,584,410
MEC	Mayville Engineering Company, Inc.	174,600	$6,540,516
AGYS	Agilysys Inc	62,440	$6,524,980
WAY	Waystar Holding Corp.	281,360	$5,776,320
GLXY	Galaxy Digital Inc.	194,339	$5,313,228
ARWR	Arrowhead Pharmaceuticals, Inc.	50,315	$4,101,175
SPCX	Space Exploration Technologies Corp	550	$93,973
VAC	MARRIOTT VACATIONS WORLDWIDE Corp	21	$2,139
HST	Host Hotels & Resorts, Inc.	1	$23
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
BRO	Brown & Brown, Inc.	397,311	$25,908,649
AORT	Artivion, Inc.	240,217	$8,796,746
PLMR	Palomar Holdings, Inc.	68,090	$8,136,755
MOD	Modine Manufacturing Co	34,224	$7,416,683
RMBS	Rambus Inc	84,930	$7,306,527
CAVA	Cava Group, Inc.	83,695	$6,770,925
FSLY	Fastly, Inc.	125,495	$3,646,884
SPGI	S&P Global Inc.	244	$103,782
NOW	ServiceNow, Inc.	525	$54,888
PANW	Palo Alto Networks Inc	200	$32,064
CSGP	Costar Group, Inc.	326	$13,150
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

223 tracked positions · $1,862,306,955 total · filing declares 280 positions · $2,120,950,602 · as of Jun 30, 2026

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

Showing 1–50 of 223 positions by value · page 1 of 5

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
GOOG	Alphabet Inc. Communication Services	Reduced	322,182	-4,976	$113,836,565	+21.3%	26+	before history	6.11%
AAPL	Apple Inc. Technology	Added	239,818	+194,242	$69,393,735	+499.9%	26+	before history	3.73%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	252,721	-6,344	$60,233,522	+11.6%	25	$153.84	3.23%
AMAT	Applied Materials Inc Technology	Reduced	81,318	-60,814	$58,792,914	+21.0%	6	$158.73	3.16%
ADI	Analog Devices Inc Technology	Reduced	135,169	-15,090	$53,685,071	+12.3%	24	$171.89	2.88%
MSFT	Microsoft Corp Technology	Reduced	140,900	-3,766	$52,558,517	−1.9%	26+	before history	2.82%
LLY	ELI LILLY & Co Healthcare	Reduced	43,596	-1,192	$52,290,354	+26.9%	26+	before history	2.81%
AVGO	Broadcom Inc. Technology	Reduced	135,358	-19,736	$51,131,484	+6.5%	16	unpriced	2.75%
V	Visa Inc. Financial Services	Reduced	142,213	-1,688	$48,791,857	+12.2%	26+	before history	2.62%
WCN	Waste Connections, Inc. Industrials	Added	278,498	+37,736	$46,422,831	+18.7%	26+	before history	2.49%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	140,002	-1,451	$45,826,854	+10.1%	7	$234.95	2.46%
NVDA	Nvidia Corp Technology	Reduced	222,332	-6,347	$44,486,409	+11.5%	16	$154.08	2.39%
AZO	Autozone Inc Consumer Cyclical	Reduced	12,513	-88	$39,990,795	−6.0%	10	$3,026.31	2.15%
USFD	US Foods Holding Corp. Consumer Defensive	Reduced	353,146	-937	$36,109,178	+10.6%	3	$75.09	1.94%
DHR	Danaher Corp Healthcare	Reduced	186,015	-4,946	$35,432,136	−2.1%	26+	before history	1.90%
ABBV	AbbVie Inc. Healthcare	Added	134,915	+27,437	$33,950,010	+45.2%	23	$218.08	1.82%
TRNO	Terreno Realty Corp Real Estate	Reduced	508,667	-47,043	$32,946,361	−3.5%	5	$57.21	1.77%
AWK	American Water Works Company, Inc. Utilities	Reduced	249,175	-7,257	$32,786,445	−6.1%	7	$134.10	1.76%
BA	Boeing Co Industrials	Added	146,792	+37,686	$31,776,063	+46.3%	13	$177.62	1.71%
PGR	Progressive Corp Financial Services	Reduced	142,193	-2,573	$31,062,059	+8.2%	26+	before history	1.67%
LAMR	Lamar Advertising Co Real Estate	Reduced	197,476	-3,760	$30,802,306	+20.8%	17	$102.22	1.65%
BSX	Boston Scientific Corp Healthcare	Added	708,949	+266,757	$30,257,943	+9.0%	20	$56.79	1.62%
SNPS	Synopsys Inc Technology	Added	67,599	+23,565	$30,153,885	+72.7%	5	$467.39	1.62%
AME	Ametek Inc Industrials	Reduced	115,696	-1,198	$27,991,489	+11.7%	19	$143.36	1.50%
FERG	Ferguson Enterprises Inc. Industrials	Reduced	115,641	-2,062	$27,445,077	−0.0%	6	$173.36	1.47%
DE	Deere & Co Industrials	Reduced	43,068	-423	$27,319,324	+11.5%	8	$382.29	1.47%
NVR	Nvr Inc Consumer Cyclical	Added	3,962	+1,237	$26,994,690	+50.3%	3	$7,120.82	1.45%
CP	Canadian Pacific Kansas City Ltd Industrials	Reduced	304,752	-17,491	$26,406,760	+4.2%	4	$76.40	1.42%
AJG	Arthur J. Gallagher & Co. Financial Services	NEW	91,965	NEW	$21,112,405	NEW	1	$212.34	1.13%
APD	Air Products & Chemicals, Inc. Basic Materials	Reduced	70,429	-44,017	$20,648,373	−37.9%	26+	before history	1.11%
VCEL	Vericel Corp Healthcare	Reduced	398,365	-2,680	$17,723,258	+37.4%	5	$39.10	0.95%
LTH	Life Time Group Holdings, Inc. Consumer Cyclical	Reduced	429,210	-90,350	$17,528,936	+25.2%	7	$26.50	0.94%
SPXC	SPX Technologies, Inc. Industrials	Added	71,108	+22,126	$17,433,548	+78.0%	5	$174.99	0.94%
NOVT	Novanta Inc Technology	Reduced	105,125	-1,925	$17,055,480	+34.9%	3	$114.74	0.92%
CDNL	Cardinal Infrastructure Group Inc. Industrials	Added	179,516	+9,580	$16,910,407	+150.9%	3	unpriced	0.91%
SLB	Slb Limited Energy	Reduced	363,472	-9,862	$16,897,812	−11.9%	2	$48.54	0.91%
TWLO	Twilio Inc Technology	Added	80,590	+14,660	$16,628,134	+100.5%	3	$133.47	0.89%
VSEC	Vse Corp Industrials	Reduced	71,699	-925	$16,383,221	+22.3%	3	$181.85	0.88%
AX	Axos Financial, Inc. Financial Services	Added	165,685	+1,945	$16,136,062	+15.8%	5	$77.64	0.87%
LOAR	Loar Holdings Inc. Industrials	Added	188,865	+50,495	$15,224,407	+92.1%	2	$66.45	0.82%
RGEN	Repligen Corp Healthcare	Added	110,995	+18,775	$15,144,157	+39.4%	4	$127.88	0.81%
KEYS	Keysight Technologies, Inc. Technology	Reduced	42,323	-73,070	$14,816,012	−54.5%	11	$139.38	0.80%
GH	Guardant Health, Inc. Healthcare	Reduced	97,320	-51,626	$14,600,919	+6.1%	6	$48.14	0.78%
BROS	Dutch Bros Inc. Consumer Cyclical	NEW	201,610	NEW	$14,477,614	NEW	1	$57.37	0.78%
ALHC	Alignment Healthcare, Inc. Healthcare	Added	604,000	+257,015	$14,381,240	+135.2%	2	$19.70	0.77%
DOCN	DigitalOcean Holdings, Inc. Technology	Reduced	91,535	-24,430	$14,373,741	+44.5%	2	$63.05	0.77%
ATRC	AtriCure, Inc. Healthcare	Added	501,355	+151,710	$14,027,912	+40.6%	6	$33.39	0.75%
META	Meta Platforms, Inc. Communication Services	Reduced	24,876	-176	$14,012,402	−2.2%	23	$279.64	0.75%
CPAY	Corpay, Inc. Technology	Reduced	40,873	-994	$13,621,744	+11.8%	5	$325.40	0.73%
BOOT	Boot Barn Holdings, Inc. Consumer Cyclical	Added	81,015	+22,335	$13,308,334	+55.0%	2	$176.05	0.71%

Showing the top 50 of 223 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.