Osterweis Capital Management INC — 13F Filings Deep Dive

CIK: 0001007524

Diversified strategyContrarianQuality / disciplined sizing

Total reported value

$1.9B

Reporting period: 2026-03-31 · Number of holdings: 277

OSTERWEIS CAPITAL MANAGEMENT INC disclosed 277 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.9B and a quarterly turnover rate of 63.1%.

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Personality snowflake

Concentration: 6.89
Portfolio Stability: 63.08
Momentum/Contrarian: 0
Sector conviction: 45.1
Diversification: 100
Sizing Uniformity: 82.8

Osterweis Capital Management INC's disclosed holdings carry a Herfindahl concentration index of 0.017 — mathematically equivalent to about 58 equally-sized positions, well below its 277 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes vary widely across the portfolio (a coefficient of variation of 1.72), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Add JBTM 0.25 05-15-26
+910.5%　$37.0M
Add PEB 1.75 12-15-26
+281.8%　$24.5M
Add ABBV
+2765.3%　$22.5M
Add ZD 1.75 11-01-26
+188.8%　$19.7M
Trim CRM
-99.5%　-$25.8M
Add NVDA
+72.6%　$15.2M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 200 holdings (of 277 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	GOOG	Alphabet Inc-cl C	Stock-Comm Services	4.84%	+0.07%	-8.92%
2	AFRM 0 11-15-26	Affirm Holdings INC	Stock-Financials	2.88%	+2.88%	NEW
3	AMZN	Amazon.com INC	Stock-Consumer Disc	2.78%	-0.51%	-22.97%
4	MSFT	Microsoft CORP	Stock-Tech	2.76%	-0.86%	-18.09%
5	AMAT	Applied Materials INC	Stock-Tech	2.51%	+0.85%	-7.03%
6	VAC 3.25 12-15-27	Marriott Vacation Worldw	Stock-Consumer Disc	2.48%	+2.48%	NEW
7	AVGO	Broadcom INC	Stock-Tech	2.48%	-0.19%	-14.84%
8	ADI	Analog Devices INC	Stock-Tech	2.47%	+0.73%	-1.10%
9	V	Visa Inc-class A Shares	Stock-Financials	2.24%	+0.14%	+1.88%
10	AZO	Autozone INC	Stock-Consumer Disc	2.20%	—	+11.25%
11	JPM	Jpmorgan Chase & Co	Stock-Financials	2.15%	—	+1.77%
12	JBTM 0.25 05-15-26	Jbt Marel CORP	Stock-Industrials	2.13%	+1.95%	+910.50%
13	LLY	Eli Lilly & Co	Stock-Healthcare	2.12%	+0.08%	+0.02%
14	NVDA	Nvidia CORP	Stock-Tech	2.06%	+1.01%	+72.58%
15	WCN	Waste Connections INC	Stock-Industrials	2.02%	—	+1.30%
16	DHR	Danaher CORP	Stock-Healthcare	1.87%	+0.05%	+1.52%
17	PENN 2.75 05-15-26	Penn Entertainment INC	Stock-Consumer Disc	1.83%	+1.83%	NEW
18	QTWO 0.75 06-01-26	Q2 Holdings INC	Stock-Tech	1.82%	+1.82%	NEW
19	AWK	American Water Works Co INC	Stock-Utilities	1.80%	—	-15.40%
20	TRNO	Terreno Realty CORP	Stock-Real Estate	1.76%	—	-3.42%
21	APD	Air Products & Chemicals INC	Stock-Materials	1.71%	—	-20.14%
22	PEB 1.75 12-15-26	Pebblebrook Hotel Trust	Stock-Other	1.71%	+1.35%	+281.82%
23	USFD	US Foods Holding CORP	Stock-Consumer Staples	1.68%	—	-9.57%
24	KEYS	Keysight Technologies In	Stock-Tech	1.68%	—	-23.26%
25	LHX	L3harris Technologies INC	Stock-Industrials	1.60%	—	-17.61%
26	ZD 1.75 11-01-26	Ziff Davis INC	Stock-Other	1.55%	+1.11%	+188.77%
27	PGR	Progressive CORP	Stock-Financials	1.48%	+0.02%	-4.30%
28	ICE	Intercontinental Exchange In	Stock-Financials	1.43%	—	+1.34%
29	BSX	Boston Scientific CORP	Stock-Healthcare	1.43%	—	+64.09%
30	FERG	Ferguson Enterprises INC	Stock-Industrials	1.42%	—	-1.30%
31	BRO	Brown & Brown INC	Stock-Financials	1.34%	-0.10%	-6.68%
32	LAMR	Lamar Advertising Co-a	Stock-Real Estate	1.31%	-0.06%	-21.33%
33	CP	Canadian Pacific Kansas City	Stock-Industrials	1.31%	—	-0.43%
34	AME	Ametek INC	Stock-Industrials	1.29%	—	-18.37%
35	DE	Deere & Co	Stock-Industrials	1.26%	—	-0.10%
36	ABBV	Abbvie INC	Stock-Healthcare	1.21%	+1.17%	+2765.32%
37	BA	Boeing Co/the	Stock-Industrials	1.12%	—	+0.37%
38	PSA	Public Storage	Stock-Real Estate	1.10%	+1.10%	NEW
39	LH	Labcorp Holdings INC	Stock-Healthcare	1.06%	—	+1.21%
40	SLB	Slb LTD	Stock-Energy	0.99%	+0.99%	NEW
41	NVR	Nvr INC	Stock-Consumer Disc	0.93%	—	+3.81%
42	SNPS	Synopsys INC	Stock-Tech	0.90%	—	+1.81%
43	UPWK 0.25 08-15-26	Upwork INC	Stock-Other	0.74%	+0.74%	NEW
44	META	Meta Platforms Inc-class A	Stock-Comm Services	0.74%	—	-0.77%
45	LTH	Life Time Group Holdings INC	Stock-Other	0.72%	—	+7.64%
46	AX	Axos Financial INC	Stock-Financials	0.72%	—	+14.76%
47	GH	Guardant Health INC	Stock-Healthcare	0.71%	—	+9.57%
48	CECO	Ceco Environmental CORP	Stock-Other	0.70%	—	+1.31%
49	VSEC	Vse CORP	Stock-Industrials	0.69%	—	+49.86%
50	VCEL	Vericel CORP	Stock-Other	0.67%	—	+24.17%

1–50 of 200

Portfolio Performance

Performance for Q3 2026

+3.1%

Performance Last 4 Quarters

+21.2%

Based on 70% of reported portfolio value with available pricing

Stdev: +15.3%
Beta: +1.06
Alpha: -4%
Max Drawdown: -12.1%
Annualized Perf: +15.3%
Batting Avg vs S&P: +38.9%
Sortino: +1.91
Stutzer: +0.3
Treynor: +0.15
Sterling: +0.81
Calmar: +1.27
Information Ratio: -0.46
Tracking Error: +6.6%
Stdev Down: +8.1%
Winning Months %: +66.7%
Losing Months %: +33.3%
Best 12 Months: +35.8%
Worst 12 Months: -1.5%
Efficiency Ratio: +0.4
Sharpe: +1.01
Stdev Sectors: +7.4%
Skewness: +0.27
Kurtosis: +0.04
Upside Potential: +3.71

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	277	$1.9B	63	1GOOG 2AFRM 0 11-15-26 3AMZN Top holdings2026-03-31 1.GOOG 2.AFRM 0 11-15-26 3.AMZN 4.MSFT 5.AMAT 6.VAC 3.25 12-15-27 7.AVGO 8.ADI 9.V 10.AZO
2025-12-31	331	$2.4B	34	1GOOG 2MSFT 3AMZN Top holdings2025-12-31 1.GOOG 2.MSFT 3.AMZN 4.ABNB 0 03-15-26 5.BSY 0.125 01-15-26 6.VAC 0 01-15-26 7.INN 1.5 02-15-26 8.CABO 0 03-15-26 9.ENPH 0 03-01-26 10.AVGO
2025-09-30	320	$2.2B	100	1GOOG 2MSFT 3AMZN Top holdings2025-09-30 1.GOOG 2.MSFT 3.AMZN 4.AVGO 5.ABNB 0 03-15-26 6.CABO 0 03-15-26 7.FVRR 0 11-01-25 8.DXCM 0.25 11-15-25 9.INN 1.5 02-15-26 10.AZO
2025-06-30	327	$2.1B	0	1MSFT 2GOOG 3AMZN Top holdings2025-06-30 1.MSFT 2.GOOG 3.AMZN 4.ABNB 0 03-15-26 5.CABO 0 03-15-26 6.AVGO 7.WIX 0 08-15-25 8.IART 0.5 08-15-25 9.V 10.DHR
2025-03-31	383	$2.0B	0	1LYFT 1.5 05-15-25 2MSFT 3GOOG Top holdings2025-03-31 1.LYFT 1.5 05-15-25 2.MSFT 3.GOOG 4.ABNB 0 03-15-26 5.CABO 0 03-15-26 6.AMZN 7.WIX 0 08-15-25 8.V 9.HAE 0 03-01-26 10.UNH
2024-12-31	246	$2.1B	0	1GOOG 2MSFT 3AMZN Top holdings2024-12-31 1.GOOG 2.MSFT 3.AMZN 4.PEGA 0.75 03-01-25 5.LYFT 1.5 05-15-25 6.ABNB 0 03-15-26 7.WIX 0 08-15-25 8.V 9.HAE 0 03-01-26 10.AVGO
2024-09-30	240	$2.0B	0	1MSFT 2GOOG 3PEGA 0.75 03-01-25 Top holdings2024-09-30 1.MSFT 2.GOOG 3.PEGA 0.75 03-01-25 4.AMZN 5.WIX 0 08-15-25 6.PGR 7.BDX 8.APD 9.WCN 10.V
2024-06-30	243	$1.9B	0	1MSFT 2GOOG 3BMRN 0.599 08-01-24 Top holdings2024-06-30 1.MSFT 2.GOOG 3.BMRN 0.599 08-01-24 4.JAZZ 1.5 08-15-24 5.PEGA 0.75 03-01-25 6.AMZN 7.BL 0.125 08-01-24 8.ADI 9.TGT 10.ADBE
2024-03-31	236	$1.7B	0	1MSFT 2GOOG 3JAZZ 1.5 08-15-24 Top holdings2024-03-31 1.MSFT 2.GOOG 3.JAZZ 1.5 08-15-24 4.AMZN 5.TGT 6.MU 7.PGR 8.SYY 9.ROST 10.V
2023-12-31	244	$1.6B	0	1MSFT 2GOOG 3AMZN Top holdings2023-12-31 1.MSFT 2.GOOG 3.AMZN 4.TGT 5.APD 6.SYY 7.ROST 8.ADI 9.V 10.WCN
2023-09-30	251	$1.4B	0	1MSFT 2GOOG 3LHX Top holdings2023-09-30 1.MSFT 2.GOOG 3.LHX 4.APD 5.AMZN 6.SYY 7.PGR 8.ROST 9.WCN 10.V
2023-06-30	256	$1.5B	0	1MSFT 2GOOG 3APD Top holdings2023-06-30 1.MSFT 2.GOOG 3.APD 4.WCN 5.AMZN 6.V 7.ADI 8.TGT 9.EGP 10.LHX
2023-03-31	259	$1.5B	0	1MSFT 2GOOG 3APD Top holdings2023-03-31 1.MSFT 2.GOOG 3.APD 4.WCN 5.PGR 6.ADI 7.DBRG 5 04-15-23 8.V 9.TGT 10.EGP
2022-12-31	284	$1.4B	0	1MSFT 2GOOG 3APD Top holdings2022-12-31 1.MSFT 2.GOOG 3.APD 4.DG 5.PGR 6.WCN 7.CVS 8.JNJ 9.V 10.DHR
2022-09-30	285	$1.3B	0	1GOOG 2MSFT 3CVS Top holdings2022-09-30 1.GOOG 2.MSFT 3.CVS 4.DG 5.APD 6.WCN 7.DHR 8.PGR 9.IBM 10.AMZN
2022-06-30	181	$1.3B	0	1GOOG 2MSFT 3CVS Top holdings2022-06-30 1.GOOG 2.MSFT 3.CVS 4.DG 5.PGR 6.WCN 7.IBM 8.DHR 9.APD 10.AMZN
2022-03-31	194	$1.8B	0	1GOOG 2MSFT 3AMZN Top holdings2022-03-31 1.GOOG 2.MSFT 3.AMZN 4.CVS 5.UNP 6.PNC 7.DG 8.WCN 9.DHR 10.PSBUSD
2021-12-31	197	$2.0B	0	1GOOG 2MSFT 3DHR Top holdings2021-12-31 1.GOOG 2.MSFT 3.DHR 4.JPM 5.AMZN 6.UNP 7.V 8.CVS 9.AMD 10.PSBUSD
2021-09-30	196	$1.8B	0	1GOOG 2MSFT 3JPM Top holdings2021-09-30 1.GOOG 2.MSFT 3.JPM 4.DHR 5.AMZN 6.V 7.ODFL 8.WCN 9.PSBUSD 10.UNP
2021-06-30	194	$1.9B	97	1GOOG 2MSFT 3FDX Top holdings2021-06-30 1.GOOG 2.MSFT 3.FDX 4.JPM 5.AMZN 6.DHR 7.V 8.UNP 9.WCN 10.TMUS
2021-03-31	185	$1.8B	32	1GOOG 2MSFT 3JPM Top holdings2021-03-31 1.GOOG 2.MSFT 3.JPM 4.FDX 5.SYY 6.AMAT 7.UNP 8.CHTR 9.DHR 10.TPC 2.875 06-15-21
2020-12-31	175	$1.7B	29	1GOOG 2MSFT 3FDX Top holdings2020-12-31 1.GOOG 2.MSFT 3.FDX 4.CHTR 5.AMAT 6.DHR 7.AMD 8.ZEN1EUR 9.JPM 10.V
2020-09-30	161	$1.5B	25	1MSFT 2GOOG 3DHR Top holdings2020-09-30 1.MSFT 2.GOOG 3.DHR 4.FDX 5.CHTR 6.V 7.AMD 8.TPC 2.875 06-15-21 9.PGR 10.WCN
2020-06-30	157	$1.4B	45	1MSFT 2GOOG 3DHR Top holdings2020-06-30 1.MSFT 2.GOOG 3.DHR 4.V 5.CHTR 6.WCN 7.AMAT 8.DG 9.PGR 10.AMD
2020-03-31	151	$1.2B	63	1MDRX 1.25 07-01-20 2GOOG 3MSFT Top holdings2020-03-31 1.MDRX 1.25 07-01-20 2.GOOG 3.MSFT 4.DLR 5.CHTR 6.DHR 7.V 8.MNDT 1 06-01-35 A 9.NEE 10.AMD
2019-12-31	155	$1.4B	29	1CEMEX 3.72 03-15-20 2GOOG 3MSFT Top holdings2019-12-31 1.CEMEX 3.72 03-15-20 2.GOOG 3.MSFT 4.ECHO 2.5 05-01-20 5.BAM 6.NEE 7.DHR 8.CHTR 9.SCHW 10.WCN
2019-09-30	152	$1.4B	38	1CEMEX 3.72 03-15-20 2GOOG 3BAM Top holdings2019-09-30 1.CEMEX 3.72 03-15-20 2.GOOG 3.BAM 4.MSFT 5.ECHO 2.5 05-01-20 6.NEE 7.DHR 8.CHTR 9.EPD 10.WCN
2019-06-30	150	$1.4B	36	1TWTR 0.25 09-15-19 2CEMEX 3.72 03-15-20 3GOOG Top holdings2019-06-30 1.TWTR 0.25 09-15-19 2.CEMEX 3.72 03-15-20 3.GOOG 4.BAM 5.MSFT 6.EFII 0.75 09-01-19 7.DHR 8.NEE 9.WCN 10.BLBD
2019-03-31	156	$1.6B	47	1NAV 4.75 04-15-19 2TWTR 0.25 09-15-19 3GOOG Top holdings2019-03-31 1.NAV 4.75 04-15-19 2.TWTR 0.25 09-15-19 3.GOOG 4.EZPW 2.125 06-15-19 5.BAM 6.CEMEX 3.72 03-15-20 7.MSFT 8.BLBD 9.DHR 10.NEE
2018-12-31	141	$1.3B	59	1TWTR 0.25 09-15-19 2GOOG 3NAV 4.75 04-15-19 Top holdings2018-12-31 1.TWTR 0.25 09-15-19 2.GOOG 3.NAV 4.75 04-15-19 4.BLBD 5.BAM 6.CEMEX 3.72 03-15-20 7.MSFT 8.ACET 2 11-01-20 9.USFD 10.NVS
2018-09-30	163	$1.6B	33	1GOOG 2NAV 4.5 10-15-18 3BLBD Top holdings2018-09-30 1.GOOG 2.NAV 4.5 10-15-18 3.BLBD 4.MSFT 5.JPM 6.AL 7.EPD 8.CLF 1.5 01-15-25 9.UNVREUR 10.NVS
2018-06-30	153	$1.5B	27	1GOOG 2NAV 4.5 10-15-18 3BLBD Top holdings2018-06-30 1.GOOG 2.NAV 4.5 10-15-18 3.BLBD 4.WEB 1 08-15-18 5.USFD 6.MSFT 7.JPM 8.RPM 9.EPD 10.NVS
2018-03-31	151	$1.4B	44	1GOOG 2NAV 4.5 10-15-18 3WEB 1 08-15-18 Top holdings2018-03-31 1.GOOG 2.NAV 4.5 10-15-18 3.WEB 1 08-15-18 4.JPM 5.NVS 6.MSFT 7.UIS 5.5 03-01-21 8.ACET 2 11-01-20 9.USFD 10.EPD
2017-12-31	146	$1.4B	32	1GOOG 2NVS 3USFD Top holdings2017-12-31 1.GOOG 2.NVS 3.USFD 4.AL 5.NEE 6.BA 7.RPM 8.EPD 9.ACET 2 11-01-20 10.CHTR
2017-09-30	142	$1.3B	43	1GOOG 2NVS 3NAV 4.5 10-15-18 Top holdings2017-09-30 1.GOOG 2.NVS 3.NAV 4.5 10-15-18 4.AL 5.NEE 6.CCK 7.RPM 8.BA 9.EPD 10.USFD
2017-06-30	137	$1.3B	35	1GOOG 2UIS 5.5 03-01-21 3PGR Top holdings2017-06-30 1.GOOG 2.UIS 5.5 03-01-21 3.PGR 4.NVS 5.CCK 6.NAV 4.5 10-15-18 7.NEE 8.EPD 9.USFD 10.BERYEUR
2017-03-31	139	$1.3B	43	1CHTR 2GOOG 3PGR Top holdings2017-03-31 1.CHTR 2.GOOG 3.PGR 4.EPD 5.NAV 4.5 10-15-18 6.AL 7.CCK 8.NVS 9.NEE 10.USFD
2016-12-31	133	$1.4B	40	1CHTR 2GOOG 3CCK Top holdings2016-12-31 1.CHTR 2.GOOG 3.CCK 4.AL 5.PGR 6.CNK 7.INTC 8.EPD 9.GSK 10.WEP
2016-09-30	134	$1.7B	33	1CHTR 2CCK 3CNK Top holdings2016-09-30 1.CHTR 2.CCK 3.CNK 4.GOOG 5.EPR 6.JNJ 7.GSK 8.AWK 9.AL 10.WEP
2016-06-30	124	$1.6B	40	1CHTR 2EPR 3CNK Top holdings2016-06-30 1.CHTR 2.EPR 3.CNK 4.CCK 5.JNJ 6.AWK 7.WEP 8.GSK 9.GOOG 10.OIEUR
2016-03-31	118	$1.7B	63	1CHTR 2CNK 3CCK Top holdings2016-03-31 1.CHTR 2.CNK 3.CCK 4.AL 5.AWK 6.GOOG 7.DEO 8.GSK 9.EPR 10.JNJ
2015-12-31	56	$1.1B	78	1AWK 2CHTR 3CCK Top holdings2015-12-31 1.AWK 2.CHTR 3.CCK 4.JNJ 5.AL 6.YUSD 7.DEO 8.GOOG 9.EBAY 10.EPR
2015-09-30	108	$2.2B	36	1VALE 2CHTR 3AWK Top holdings2015-09-30 1.VALE 2.CHTR 3.AWK 4.CCK 5.AL 6.JNJ 7.YUSD 8.DEO 9.OIEUR 10.AXP
2015-06-30	120	$2.9B	21	1VALE 2TFX 3CCK Top holdings2015-06-30 1.VALE 2.TFX 3.CCK 4.CHTR 5.AWK 6.AL 7.RITM 8.DEO 9.WEP 10.USA
2015-03-31	116	$3.1B	21	1VALE 2CHTR 3CCK Top holdings2015-03-31 1.VALE 2.CHTR 3.CCK 4.AL 5.AWK 6.TFX 7.WEP 8.JNJ 9.YUSD 10.USA
2014-12-31	120	$3.1B	34	1VALE 2CNK 3CCK Top holdings2014-12-31 1.VALE 2.CNK 3.CCK 4.WEP 5.AWK 6.CHTR 7.AL 8.JNJ 9.TFX 10.DLR
2014-09-30	120	$3.3B	21	1VALE 2WEP 3CNK Top holdings2014-09-30 1.VALE 2.WEP 3.CNK 4.JNJ 5.AWK 6.CCK 7.AL 8.25490A 9.CHTR 10.OXY
2014-06-30	115	$3.5B	13	1AL 2WEP 3CNK Top holdings2014-06-30 1.AL 2.WEP 3.CNK 4.VALE 5.CCK 6.JNJ 7.OIEUR 8.AWK 9.OXY 10.CHTR
2014-03-31	119	$3.3B	20	1VALE 2AL 3WEP Top holdings2014-03-31 1.VALE 2.AL 3.WEP 4.JNJ 5.CCK 6.ORCL 7.25490A 8.TFX 9.AWK 10.OIEUR
2013-12-31	128	$3.2B	19	1VALE 2CNK 3GOOG Top holdings2013-12-31 1.VALE 2.CNK 3.GOOG 4.CCK 5.AL 6.OIEUR 7.WEP 8.JNJ 9.TFX 10.ORCL
2013-09-30	125	$3.1B	22	1VALE 2CNK 3CCK Top holdings2013-09-30 1.VALE 2.CNK 3.CCK 4.JNJ 5.GOOG 6.AL 7.WEP 8.TFX 9.AWK 10.OIEUR
2013-06-30	222	$2.7B	0	1VALE 2VIAB 3JNJ Top holdings2013-06-30 1.VALE 2.VIAB 3.JNJ 4.AWK 5.CNK 6.CCK 7.YUSD 8.AL 9.WEP 10.421924

Holding changes this quarter

Osterweis Capital Management INC's most significant position changes for 2026-03-31: Sold out: Airbnb INC (ABNB 0 03-15-26); Sold out: Bentley Systems INC (BSY 0.125 01-15-26); Sold out: Marriott Vacation Worldw (VAC 0 01-15-26); Sold out: Summit Hotel Properties (INN 1.5 02-15-26); Sold out: Cable One INC (CABO 0 03-15-26).

Position changes disclosed by Osterweis Capital Management INC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	JBTM 0.25 05-15-26	Jbt Marel CORP	+2%	+910.50%	Add
2	PEB 1.75 12-15-26	Pebblebrook Hotel Trust	+1.4%	+281.82%	Add
3	ABBV	Abbvie INC	+1.2%	+2765.32%	Add
4	ZD 1.75 11-01-26	Ziff Davis INC	+1.1%	+188.77%	Add
5	NVDA	Nvidia CORP	+1%	+72.58%	Add
6	AMAT	Applied Materials INC	+0.9%	-7.03%	Trim
7	ADI	Analog Devices INC	+0.7%	-1.10%	Trim
8	NXT	Nextpower Inc-cl A	+0.3%	+70.64%	Add
9	V	Visa Inc-class A Shares	+0.1%	+1.88%	Add
10	LLY	Eli Lilly & Co	+0.1%	+0.02%	Add
11	GOOG	Alphabet Inc-cl C	+0.1%	-8.92%	Trim
12	DHR	Danaher CORP	+0.1%	+1.52%	Add
13	PGR	Progressive CORP	0%	-4.30%	Trim
14	LAMR	Lamar Advertising Co-a	-0.1%	-21.33%	Trim
15	BRO	Brown & Brown INC	-0.1%	-6.68%	Trim
16	AVGO	Broadcom INC	-0.2%	-14.84%	Trim
17	FSV	Firstservice CORP	-0.2%	-36.61%	Trim
18	CHYM	Chime Financial Inc-cl A	-0.3%	-51.45%	Trim
19	TTAN	Servicetitan Inc-a	-0.3%	-49.19%	Trim
20	AMZN	Amazon.com INC	-0.5%	-22.97%	Trim
21	MSFT	Microsoft CORP	-0.9%	-18.09%	Trim
22	CRM	Salesforce INC	-1.1%	-99.49%	Trim
23	ABNB 0 03-15-26	Airbnb INC	—	EXIT	Sold out
24	BSY 0.125 01-15-26	Bentley Systems INC	—	EXIT	Sold out
25	VAC 0 01-15-26	Marriott Vacation Worldw	—	EXIT	Sold out
26	INN 1.5 02-15-26	Summit Hotel Properties	—	EXIT	Sold out
27	CABO 0 03-15-26	Cable One INC	—	EXIT	Sold out
28	ENPH 0 03-01-26	Enphase Energy INC	—	EXIT	Sold out
29	AFRM 0 11-15-26	Affirm Holdings INC	—	NEW	New buy
30	HAE 0 03-01-26	Haemonetics CORP	—	EXIT	Sold out
31	VAC 3.25 12-15-27	Marriott Vacation Worldw	—	NEW	New buy
32	MTN 0 01-01-26	Vail Resorts INC	—	EXIT	Sold out
33	ALRM 0 01-15-26	Alarm.com Hldgs INC	—	EXIT	Sold out
34	PENN 2.75 05-15-26	Penn Entertainment INC	—	NEW	New buy
35	QTWO 0.75 06-01-26	Q2 Holdings INC	—	NEW	New buy
36	INTU	Intuit INC	—	EXIT	Sold out
37	PSA	Public Storage	—	NEW	New buy
38	SLB	Slb LTD	—	NEW	New buy
39	UPWK 0.25 08-15-26	Upwork INC	—	NEW	New buy
40	VITL	Vital Farms INC	—	EXIT	Sold out
41	DOCN	Digitalocean Holdings INC	—	NEW	New buy
42	BOOT	Boot Barn Holdings INC	—	NEW	New buy
43	HURN	Huron Consulting Group INC	—	EXIT	Sold out
44	WAY	Waystar Holding CORP	—	EXIT	Sold out
45	LOAR	Loar Holdings INC	—	NEW	New buy
46	GWRE	Guidewire Software INC	—	EXIT	Sold out
47	TRNS	Transcat INC	—	NEW	New buy
48	MGY	Magnolia Oil & Gas CORP - A	—	EXIT	Sold out
49	ALHC	Alignment Healthcare INC	—	NEW	New buy
50	COGT	Cogent Biosciences INC	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-15	13F-HR	View on EDGAR
2025-12-31	2026-02-17	13F-HR	View on EDGAR
2025-09-30	2025-11-14	13F-HR	View on EDGAR
2025-06-30	2025-08-14	13F-HR	View on EDGAR
2025-03-31	2025-06-05	Amendment	View on EDGAR
2025-03-31	2025-05-14	13F-HR	View on EDGAR
2024-12-31	2025-06-05	Amendment	View on EDGAR
2024-12-31	2025-02-13	13F-HR	View on EDGAR
2024-09-30	2024-11-14	13F-HR	View on EDGAR
2024-06-30	2024-08-14	13F-HR	View on EDGAR
2024-03-31	2024-05-15	13F-HR	View on EDGAR
2023-12-31	2024-02-14	13F-HR	View on EDGAR
2023-09-30	2023-11-14	13F-HR	View on EDGAR
2023-06-30	2023-08-14	13F-HR	View on EDGAR
2023-03-31	2023-05-15	13F-HR	View on EDGAR
2022-12-31	2023-02-14	13F-HR	View on EDGAR
2022-09-30	2022-11-14	13F-HR	View on EDGAR
2022-06-30	2022-08-15	13F-HR	View on EDGAR
2022-03-31	2022-05-16	13F-HR	View on EDGAR
2021-12-31	2022-02-14	13F-HR	View on EDGAR
2021-09-30	2021-11-15	13F-HR	View on EDGAR
2021-06-30	2021-08-16	13F-HR	View on EDGAR
2021-03-31	2021-05-14	13F-HR	View on EDGAR
2020-12-31	2021-02-12	13F-HR	View on EDGAR
2020-09-30	2020-11-13	13F-HR	View on EDGAR
2020-06-30	2020-08-14	13F-HR	View on EDGAR
2020-03-31	2020-05-15	13F-HR	View on EDGAR
2019-12-31	2020-02-14	13F-HR	View on EDGAR
2019-09-30	2019-11-14	13F-HR	View on EDGAR
2019-06-30	2019-08-14	13F-HR	View on EDGAR
2019-03-31	2019-05-15	13F-HR	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR
2018-09-30	2018-11-13	13F-HR	View on EDGAR
2018-06-30	2018-08-13	13F-HR	View on EDGAR
2018-03-31	2018-05-14	13F-HR	View on EDGAR
2017-12-31	2018-02-14	13F-HR	View on EDGAR
2017-09-30	2017-11-13	13F-HR	View on EDGAR
2017-06-30	2017-08-15	13F-HR	View on EDGAR
2017-03-31	2017-05-15	13F-HR	View on EDGAR
2016-12-31	2017-02-13	13F-HR	View on EDGAR
2016-09-30	2016-11-14	13F-HR	View on EDGAR
2016-06-30	2016-08-12	13F-HR	View on EDGAR
2016-03-31	2016-05-16	13F-HR	View on EDGAR
2015-12-31	2016-02-11	13F-HR	View on EDGAR
2015-09-30	2015-11-13	13F-HR	View on EDGAR
2015-06-30	2015-08-17	13F-HR	View on EDGAR
2015-03-31	2015-05-14	13F-HR	View on EDGAR
2014-12-31	2015-02-13	13F-HR	View on EDGAR
2014-09-30	2014-11-13	13F-HR	View on EDGAR
2014-06-30	2014-08-14	13F-HR	View on EDGAR
2014-03-31	2014-05-15	13F-HR	View on EDGAR
2013-12-31	2014-02-13	13F-HR	View on EDGAR
2013-09-30	2013-11-14	13F-HR	View on EDGAR
2013-06-30	2013-08-15	13F-HR	View on EDGAR

FAQ

What is Osterweis Capital Management INC and what type of investor is it?

Osterweis Capital Management INC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $1.9B, spread across 277 disclosed positions.

What are Osterweis Capital Management INC's largest equity positions?

Based on the latest 13F filing, Osterweis Capital Management INC's top holdings by market value are: 1. Alphabet Inc-cl C (GOOG) — $93.8M (4.8%) 2. Affirm Holdings INC (AFRM 0 11-15-26) — $55.8M (2.9%) 3. Amazon.com INC (AMZN) — $54.0M (2.8%) 4. Microsoft CORP (MSFT) — $53.6M (2.8%) 5. Applied Materials INC (AMAT) — $48.6M (2.5%)

What changes did Osterweis Capital Management INC make in its most recent portfolio filing?

In the latest reported quarter, Osterweis Capital Management INC made 50 notable position adjustments: 13 new positions were initiated, 9 existing holdings were added to, 13 positions were partially reduced, and 15 were completely exited. The largest of these moves: Sold out: Airbnb INC (ABNB 0 03-15-26); Sold out: Bentley Systems INC (BSY 0.125 01-15-26); Sold out: Marriott Vacation Worldw (VAC 0 01-15-26); Sold out: Summit Hotel Properties (INN 1.5 02-15-26); Sold out: Cable One INC (CABO 0 03-15-26)

What sectors does Osterweis Capital Management INC focus on?

Osterweis Capital Management INC is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 25.0% • Industrials: 16.1% • Financials: 14.9% • Consumer Discretionary: 13.5% • Health Care: 11.7% • Communication Services: 6.5%

Peer Institutions

Institutions with a similar AUM

1st Source Bank

CIK 0000356264

Total reported value

$1.9B

425 stks

2026-03-31

Concentration26.6

Portfolio Stability11.5

Sector conviction41.1

AUM within 0.0% of this institution

View detail

Foster & Motley INC

CIK 0001163902

Total reported value

$1.9B

395 stks

2026-03-31

Concentration6.0

Portfolio Stability11.8

Sector conviction64.7

AUM within 0.0% of this institution

View detail

Midland Wealth Advisors, LLC

CIK 0001990058

Total reported value

$1.9B

160 stks

2026-03-31

Concentration31.1

Portfolio Stability16.3

Sector conviction49.5

AUM within 0.1% of this institution

View detail

Similar Holdings Style

Institutions with overlapping top holdings

Fred Alger Management, LLC

CIK 0000003520

Total reported value

$22.8B

525 stks

2026-03-31

Concentration16.8

Portfolio Stability32.2

Sector conviction81.0

3 of the top 5 holdings overlap, including Microsoft CORP

View detail

Cannell & Co.

CIK 0000016972

Total reported value

$3.2B

269 stks

2023-12-31

Stale — no recent filing

Concentration6.9

Portfolio Stability0.0

Sector conviction38.5

3 of the top 5 holdings overlap, including Microsoft CORP

View detail

Jpmorgan Chase & Co

CIK 0000019617

Total reported value

$1.6T

33,063 stks

2026-03-31

Concentration3.5

Portfolio Stability25.6

Sector conviction47.2

3 of the top 5 holdings overlap, including Microsoft CORP

View detail

Osterweis Capital Management INC — 13F Filings Deep Dive

CIK: 0001007524

Diversified strategyContrarianQuality / disciplined sizing

Total reported value

$1.9B

Reporting period: 2026-03-31 · Number of holdings: 277

OSTERWEIS CAPITAL MANAGEMENT INC disclosed 277 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.9B and a quarterly turnover rate of 63.1%.

Browse other institutions with $1B to $10B AUM Browse other institutions starting with "O"

Personality snowflake

Concentration: 6.89
Portfolio Stability: 63.08
Momentum/Contrarian: 0
Sector conviction: 45.1
Diversification: 100
Sizing Uniformity: 82.8

Position sizes vary widely across the portfolio (a coefficient of variation of 1.72), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Add JBTM 0.25 05-15-26
+910.5%　$37.0M
Add PEB 1.75 12-15-26
+281.8%　$24.5M
Add ABBV
+2765.3%　$22.5M
Add ZD 1.75 11-01-26
+188.8%　$19.7M
Trim CRM
-99.5%　-$25.8M
Add NVDA
+72.6%　$15.2M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 200 holdings (of 277 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	GOOG	Alphabet Inc-cl C	Stock-Comm Services	4.84%	+0.07%	-8.92%
2	AFRM 0 11-15-26	Affirm Holdings INC	Stock-Financials	2.88%	+2.88%	NEW
3	AMZN	Amazon.com INC	Stock-Consumer Disc	2.78%	-0.51%	-22.97%
4	MSFT	Microsoft CORP	Stock-Tech	2.76%	-0.86%	-18.09%
5	AMAT	Applied Materials INC	Stock-Tech	2.51%	+0.85%	-7.03%
6	VAC 3.25 12-15-27	Marriott Vacation Worldw	Stock-Consumer Disc	2.48%	+2.48%	NEW
7	AVGO	Broadcom INC	Stock-Tech	2.48%	-0.19%	-14.84%
8	ADI	Analog Devices INC	Stock-Tech	2.47%	+0.73%	-1.10%
9	V	Visa Inc-class A Shares	Stock-Financials	2.24%	+0.14%	+1.88%
10	AZO	Autozone INC	Stock-Consumer Disc	2.20%	—	+11.25%
11	JPM	Jpmorgan Chase & Co	Stock-Financials	2.15%	—	+1.77%
12	JBTM 0.25 05-15-26	Jbt Marel CORP	Stock-Industrials	2.13%	+1.95%	+910.50%
13	LLY	Eli Lilly & Co	Stock-Healthcare	2.12%	+0.08%	+0.02%
14	NVDA	Nvidia CORP	Stock-Tech	2.06%	+1.01%	+72.58%
15	WCN	Waste Connections INC	Stock-Industrials	2.02%	—	+1.30%
16	DHR	Danaher CORP	Stock-Healthcare	1.87%	+0.05%	+1.52%
17	PENN 2.75 05-15-26	Penn Entertainment INC	Stock-Consumer Disc	1.83%	+1.83%	NEW
18	QTWO 0.75 06-01-26	Q2 Holdings INC	Stock-Tech	1.82%	+1.82%	NEW
19	AWK	American Water Works Co INC	Stock-Utilities	1.80%	—	-15.40%
20	TRNO	Terreno Realty CORP	Stock-Real Estate	1.76%	—	-3.42%
21	APD	Air Products & Chemicals INC	Stock-Materials	1.71%	—	-20.14%
22	PEB 1.75 12-15-26	Pebblebrook Hotel Trust	Stock-Other	1.71%	+1.35%	+281.82%
23	USFD	US Foods Holding CORP	Stock-Consumer Staples	1.68%	—	-9.57%
24	KEYS	Keysight Technologies In	Stock-Tech	1.68%	—	-23.26%
25	LHX	L3harris Technologies INC	Stock-Industrials	1.60%	—	-17.61%
26	ZD 1.75 11-01-26	Ziff Davis INC	Stock-Other	1.55%	+1.11%	+188.77%
27	PGR	Progressive CORP	Stock-Financials	1.48%	+0.02%	-4.30%
28	ICE	Intercontinental Exchange In	Stock-Financials	1.43%	—	+1.34%
29	BSX	Boston Scientific CORP	Stock-Healthcare	1.43%	—	+64.09%
30	FERG	Ferguson Enterprises INC	Stock-Industrials	1.42%	—	-1.30%
31	BRO	Brown & Brown INC	Stock-Financials	1.34%	-0.10%	-6.68%
32	LAMR	Lamar Advertising Co-a	Stock-Real Estate	1.31%	-0.06%	-21.33%
33	CP	Canadian Pacific Kansas City	Stock-Industrials	1.31%	—	-0.43%
34	AME	Ametek INC	Stock-Industrials	1.29%	—	-18.37%
35	DE	Deere & Co	Stock-Industrials	1.26%	—	-0.10%
36	ABBV	Abbvie INC	Stock-Healthcare	1.21%	+1.17%	+2765.32%
37	BA	Boeing Co/the	Stock-Industrials	1.12%	—	+0.37%
38	PSA	Public Storage	Stock-Real Estate	1.10%	+1.10%	NEW
39	LH	Labcorp Holdings INC	Stock-Healthcare	1.06%	—	+1.21%
40	SLB	Slb LTD	Stock-Energy	0.99%	+0.99%	NEW
41	NVR	Nvr INC	Stock-Consumer Disc	0.93%	—	+3.81%
42	SNPS	Synopsys INC	Stock-Tech	0.90%	—	+1.81%
43	UPWK 0.25 08-15-26	Upwork INC	Stock-Other	0.74%	+0.74%	NEW
44	META	Meta Platforms Inc-class A	Stock-Comm Services	0.74%	—	-0.77%
45	LTH	Life Time Group Holdings INC	Stock-Other	0.72%	—	+7.64%
46	AX	Axos Financial INC	Stock-Financials	0.72%	—	+14.76%
47	GH	Guardant Health INC	Stock-Healthcare	0.71%	—	+9.57%
48	CECO	Ceco Environmental CORP	Stock-Other	0.70%	—	+1.31%
49	VSEC	Vse CORP	Stock-Industrials	0.69%	—	+49.86%
50	VCEL	Vericel CORP	Stock-Other	0.67%	—	+24.17%

1–50 of 200

Portfolio Performance

Performance for Q3 2026

+3.1%

Performance Last 4 Quarters

+21.2%

Based on 70% of reported portfolio value with available pricing

Stdev: +15.3%
Beta: +1.06
Alpha: -4%
Max Drawdown: -12.1%
Annualized Perf: +15.3%
Batting Avg vs S&P: +38.9%
Sortino: +1.91
Stutzer: +0.3
Treynor: +0.15
Sterling: +0.81
Calmar: +1.27
Information Ratio: -0.46
Tracking Error: +6.6%
Stdev Down: +8.1%
Winning Months %: +66.7%
Losing Months %: +33.3%
Best 12 Months: +35.8%
Worst 12 Months: -1.5%
Efficiency Ratio: +0.4
Sharpe: +1.01
Stdev Sectors: +7.4%
Skewness: +0.27
Kurtosis: +0.04
Upside Potential: +3.71

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	277	$1.9B	63	1GOOG 2AFRM 0 11-15-26 3AMZN Top holdings2026-03-31 1.GOOG 2.AFRM 0 11-15-26 3.AMZN 4.MSFT 5.AMAT 6.VAC 3.25 12-15-27 7.AVGO 8.ADI 9.V 10.AZO
2025-12-31	331	$2.4B	34	1GOOG 2MSFT 3AMZN Top holdings2025-12-31 1.GOOG 2.MSFT 3.AMZN 4.ABNB 0 03-15-26 5.BSY 0.125 01-15-26 6.VAC 0 01-15-26 7.INN 1.5 02-15-26 8.CABO 0 03-15-26 9.ENPH 0 03-01-26 10.AVGO
2025-09-30	320	$2.2B	100	1GOOG 2MSFT 3AMZN Top holdings2025-09-30 1.GOOG 2.MSFT 3.AMZN 4.AVGO 5.ABNB 0 03-15-26 6.CABO 0 03-15-26 7.FVRR 0 11-01-25 8.DXCM 0.25 11-15-25 9.INN 1.5 02-15-26 10.AZO
2025-06-30	327	$2.1B	0	1MSFT 2GOOG 3AMZN Top holdings2025-06-30 1.MSFT 2.GOOG 3.AMZN 4.ABNB 0 03-15-26 5.CABO 0 03-15-26 6.AVGO 7.WIX 0 08-15-25 8.IART 0.5 08-15-25 9.V 10.DHR
2025-03-31	383	$2.0B	0	1LYFT 1.5 05-15-25 2MSFT 3GOOG Top holdings2025-03-31 1.LYFT 1.5 05-15-25 2.MSFT 3.GOOG 4.ABNB 0 03-15-26 5.CABO 0 03-15-26 6.AMZN 7.WIX 0 08-15-25 8.V 9.HAE 0 03-01-26 10.UNH
2024-12-31	246	$2.1B	0	1GOOG 2MSFT 3AMZN Top holdings2024-12-31 1.GOOG 2.MSFT 3.AMZN 4.PEGA 0.75 03-01-25 5.LYFT 1.5 05-15-25 6.ABNB 0 03-15-26 7.WIX 0 08-15-25 8.V 9.HAE 0 03-01-26 10.AVGO
2024-09-30	240	$2.0B	0	1MSFT 2GOOG 3PEGA 0.75 03-01-25 Top holdings2024-09-30 1.MSFT 2.GOOG 3.PEGA 0.75 03-01-25 4.AMZN 5.WIX 0 08-15-25 6.PGR 7.BDX 8.APD 9.WCN 10.V
2024-06-30	243	$1.9B	0	1MSFT 2GOOG 3BMRN 0.599 08-01-24 Top holdings2024-06-30 1.MSFT 2.GOOG 3.BMRN 0.599 08-01-24 4.JAZZ 1.5 08-15-24 5.PEGA 0.75 03-01-25 6.AMZN 7.BL 0.125 08-01-24 8.ADI 9.TGT 10.ADBE
2024-03-31	236	$1.7B	0	1MSFT 2GOOG 3JAZZ 1.5 08-15-24 Top holdings2024-03-31 1.MSFT 2.GOOG 3.JAZZ 1.5 08-15-24 4.AMZN 5.TGT 6.MU 7.PGR 8.SYY 9.ROST 10.V
2023-12-31	244	$1.6B	0	1MSFT 2GOOG 3AMZN Top holdings2023-12-31 1.MSFT 2.GOOG 3.AMZN 4.TGT 5.APD 6.SYY 7.ROST 8.ADI 9.V 10.WCN
2023-09-30	251	$1.4B	0	1MSFT 2GOOG 3LHX Top holdings2023-09-30 1.MSFT 2.GOOG 3.LHX 4.APD 5.AMZN 6.SYY 7.PGR 8.ROST 9.WCN 10.V
2023-06-30	256	$1.5B	0	1MSFT 2GOOG 3APD Top holdings2023-06-30 1.MSFT 2.GOOG 3.APD 4.WCN 5.AMZN 6.V 7.ADI 8.TGT 9.EGP 10.LHX
2023-03-31	259	$1.5B	0	1MSFT 2GOOG 3APD Top holdings2023-03-31 1.MSFT 2.GOOG 3.APD 4.WCN 5.PGR 6.ADI 7.DBRG 5 04-15-23 8.V 9.TGT 10.EGP
2022-12-31	284	$1.4B	0	1MSFT 2GOOG 3APD Top holdings2022-12-31 1.MSFT 2.GOOG 3.APD 4.DG 5.PGR 6.WCN 7.CVS 8.JNJ 9.V 10.DHR
2022-09-30	285	$1.3B	0	1GOOG 2MSFT 3CVS Top holdings2022-09-30 1.GOOG 2.MSFT 3.CVS 4.DG 5.APD 6.WCN 7.DHR 8.PGR 9.IBM 10.AMZN
2022-06-30	181	$1.3B	0	1GOOG 2MSFT 3CVS Top holdings2022-06-30 1.GOOG 2.MSFT 3.CVS 4.DG 5.PGR 6.WCN 7.IBM 8.DHR 9.APD 10.AMZN
2022-03-31	194	$1.8B	0	1GOOG 2MSFT 3AMZN Top holdings2022-03-31 1.GOOG 2.MSFT 3.AMZN 4.CVS 5.UNP 6.PNC 7.DG 8.WCN 9.DHR 10.PSBUSD
2021-12-31	197	$2.0B	0	1GOOG 2MSFT 3DHR Top holdings2021-12-31 1.GOOG 2.MSFT 3.DHR 4.JPM 5.AMZN 6.UNP 7.V 8.CVS 9.AMD 10.PSBUSD
2021-09-30	196	$1.8B	0	1GOOG 2MSFT 3JPM Top holdings2021-09-30 1.GOOG 2.MSFT 3.JPM 4.DHR 5.AMZN 6.V 7.ODFL 8.WCN 9.PSBUSD 10.UNP
2021-06-30	194	$1.9B	97	1GOOG 2MSFT 3FDX Top holdings2021-06-30 1.GOOG 2.MSFT 3.FDX 4.JPM 5.AMZN 6.DHR 7.V 8.UNP 9.WCN 10.TMUS
2021-03-31	185	$1.8B	32	1GOOG 2MSFT 3JPM Top holdings2021-03-31 1.GOOG 2.MSFT 3.JPM 4.FDX 5.SYY 6.AMAT 7.UNP 8.CHTR 9.DHR 10.TPC 2.875 06-15-21
2020-12-31	175	$1.7B	29	1GOOG 2MSFT 3FDX Top holdings2020-12-31 1.GOOG 2.MSFT 3.FDX 4.CHTR 5.AMAT 6.DHR 7.AMD 8.ZEN1EUR 9.JPM 10.V
2020-09-30	161	$1.5B	25	1MSFT 2GOOG 3DHR Top holdings2020-09-30 1.MSFT 2.GOOG 3.DHR 4.FDX 5.CHTR 6.V 7.AMD 8.TPC 2.875 06-15-21 9.PGR 10.WCN
2020-06-30	157	$1.4B	45	1MSFT 2GOOG 3DHR Top holdings2020-06-30 1.MSFT 2.GOOG 3.DHR 4.V 5.CHTR 6.WCN 7.AMAT 8.DG 9.PGR 10.AMD
2020-03-31	151	$1.2B	63	1MDRX 1.25 07-01-20 2GOOG 3MSFT Top holdings2020-03-31 1.MDRX 1.25 07-01-20 2.GOOG 3.MSFT 4.DLR 5.CHTR 6.DHR 7.V 8.MNDT 1 06-01-35 A 9.NEE 10.AMD
2019-12-31	155	$1.4B	29	1CEMEX 3.72 03-15-20 2GOOG 3MSFT Top holdings2019-12-31 1.CEMEX 3.72 03-15-20 2.GOOG 3.MSFT 4.ECHO 2.5 05-01-20 5.BAM 6.NEE 7.DHR 8.CHTR 9.SCHW 10.WCN
2019-09-30	152	$1.4B	38	1CEMEX 3.72 03-15-20 2GOOG 3BAM Top holdings2019-09-30 1.CEMEX 3.72 03-15-20 2.GOOG 3.BAM 4.MSFT 5.ECHO 2.5 05-01-20 6.NEE 7.DHR 8.CHTR 9.EPD 10.WCN
2019-06-30	150	$1.4B	36	1TWTR 0.25 09-15-19 2CEMEX 3.72 03-15-20 3GOOG Top holdings2019-06-30 1.TWTR 0.25 09-15-19 2.CEMEX 3.72 03-15-20 3.GOOG 4.BAM 5.MSFT 6.EFII 0.75 09-01-19 7.DHR 8.NEE 9.WCN 10.BLBD
2019-03-31	156	$1.6B	47	1NAV 4.75 04-15-19 2TWTR 0.25 09-15-19 3GOOG Top holdings2019-03-31 1.NAV 4.75 04-15-19 2.TWTR 0.25 09-15-19 3.GOOG 4.EZPW 2.125 06-15-19 5.BAM 6.CEMEX 3.72 03-15-20 7.MSFT 8.BLBD 9.DHR 10.NEE
2018-12-31	141	$1.3B	59	1TWTR 0.25 09-15-19 2GOOG 3NAV 4.75 04-15-19 Top holdings2018-12-31 1.TWTR 0.25 09-15-19 2.GOOG 3.NAV 4.75 04-15-19 4.BLBD 5.BAM 6.CEMEX 3.72 03-15-20 7.MSFT 8.ACET 2 11-01-20 9.USFD 10.NVS
2018-09-30	163	$1.6B	33	1GOOG 2NAV 4.5 10-15-18 3BLBD Top holdings2018-09-30 1.GOOG 2.NAV 4.5 10-15-18 3.BLBD 4.MSFT 5.JPM 6.AL 7.EPD 8.CLF 1.5 01-15-25 9.UNVREUR 10.NVS
2018-06-30	153	$1.5B	27	1GOOG 2NAV 4.5 10-15-18 3BLBD Top holdings2018-06-30 1.GOOG 2.NAV 4.5 10-15-18 3.BLBD 4.WEB 1 08-15-18 5.USFD 6.MSFT 7.JPM 8.RPM 9.EPD 10.NVS
2018-03-31	151	$1.4B	44	1GOOG 2NAV 4.5 10-15-18 3WEB 1 08-15-18 Top holdings2018-03-31 1.GOOG 2.NAV 4.5 10-15-18 3.WEB 1 08-15-18 4.JPM 5.NVS 6.MSFT 7.UIS 5.5 03-01-21 8.ACET 2 11-01-20 9.USFD 10.EPD
2017-12-31	146	$1.4B	32	1GOOG 2NVS 3USFD Top holdings2017-12-31 1.GOOG 2.NVS 3.USFD 4.AL 5.NEE 6.BA 7.RPM 8.EPD 9.ACET 2 11-01-20 10.CHTR
2017-09-30	142	$1.3B	43	1GOOG 2NVS 3NAV 4.5 10-15-18 Top holdings2017-09-30 1.GOOG 2.NVS 3.NAV 4.5 10-15-18 4.AL 5.NEE 6.CCK 7.RPM 8.BA 9.EPD 10.USFD
2017-06-30	137	$1.3B	35	1GOOG 2UIS 5.5 03-01-21 3PGR Top holdings2017-06-30 1.GOOG 2.UIS 5.5 03-01-21 3.PGR 4.NVS 5.CCK 6.NAV 4.5 10-15-18 7.NEE 8.EPD 9.USFD 10.BERYEUR
2017-03-31	139	$1.3B	43	1CHTR 2GOOG 3PGR Top holdings2017-03-31 1.CHTR 2.GOOG 3.PGR 4.EPD 5.NAV 4.5 10-15-18 6.AL 7.CCK 8.NVS 9.NEE 10.USFD
2016-12-31	133	$1.4B	40	1CHTR 2GOOG 3CCK Top holdings2016-12-31 1.CHTR 2.GOOG 3.CCK 4.AL 5.PGR 6.CNK 7.INTC 8.EPD 9.GSK 10.WEP
2016-09-30	134	$1.7B	33	1CHTR 2CCK 3CNK Top holdings2016-09-30 1.CHTR 2.CCK 3.CNK 4.GOOG 5.EPR 6.JNJ 7.GSK 8.AWK 9.AL 10.WEP
2016-06-30	124	$1.6B	40	1CHTR 2EPR 3CNK Top holdings2016-06-30 1.CHTR 2.EPR 3.CNK 4.CCK 5.JNJ 6.AWK 7.WEP 8.GSK 9.GOOG 10.OIEUR
2016-03-31	118	$1.7B	63	1CHTR 2CNK 3CCK Top holdings2016-03-31 1.CHTR 2.CNK 3.CCK 4.AL 5.AWK 6.GOOG 7.DEO 8.GSK 9.EPR 10.JNJ
2015-12-31	56	$1.1B	78	1AWK 2CHTR 3CCK Top holdings2015-12-31 1.AWK 2.CHTR 3.CCK 4.JNJ 5.AL 6.YUSD 7.DEO 8.GOOG 9.EBAY 10.EPR
2015-09-30	108	$2.2B	36	1VALE 2CHTR 3AWK Top holdings2015-09-30 1.VALE 2.CHTR 3.AWK 4.CCK 5.AL 6.JNJ 7.YUSD 8.DEO 9.OIEUR 10.AXP
2015-06-30	120	$2.9B	21	1VALE 2TFX 3CCK Top holdings2015-06-30 1.VALE 2.TFX 3.CCK 4.CHTR 5.AWK 6.AL 7.RITM 8.DEO 9.WEP 10.USA
2015-03-31	116	$3.1B	21	1VALE 2CHTR 3CCK Top holdings2015-03-31 1.VALE 2.CHTR 3.CCK 4.AL 5.AWK 6.TFX 7.WEP 8.JNJ 9.YUSD 10.USA
2014-12-31	120	$3.1B	34	1VALE 2CNK 3CCK Top holdings2014-12-31 1.VALE 2.CNK 3.CCK 4.WEP 5.AWK 6.CHTR 7.AL 8.JNJ 9.TFX 10.DLR
2014-09-30	120	$3.3B	21	1VALE 2WEP 3CNK Top holdings2014-09-30 1.VALE 2.WEP 3.CNK 4.JNJ 5.AWK 6.CCK 7.AL 8.25490A 9.CHTR 10.OXY
2014-06-30	115	$3.5B	13	1AL 2WEP 3CNK Top holdings2014-06-30 1.AL 2.WEP 3.CNK 4.VALE 5.CCK 6.JNJ 7.OIEUR 8.AWK 9.OXY 10.CHTR
2014-03-31	119	$3.3B	20	1VALE 2AL 3WEP Top holdings2014-03-31 1.VALE 2.AL 3.WEP 4.JNJ 5.CCK 6.ORCL 7.25490A 8.TFX 9.AWK 10.OIEUR
2013-12-31	128	$3.2B	19	1VALE 2CNK 3GOOG Top holdings2013-12-31 1.VALE 2.CNK 3.GOOG 4.CCK 5.AL 6.OIEUR 7.WEP 8.JNJ 9.TFX 10.ORCL
2013-09-30	125	$3.1B	22	1VALE 2CNK 3CCK Top holdings2013-09-30 1.VALE 2.CNK 3.CCK 4.JNJ 5.GOOG 6.AL 7.WEP 8.TFX 9.AWK 10.OIEUR
2013-06-30	222	$2.7B	0	1VALE 2VIAB 3JNJ Top holdings2013-06-30 1.VALE 2.VIAB 3.JNJ 4.AWK 5.CNK 6.CCK 7.YUSD 8.AL 9.WEP 10.421924

Holding changes this quarter

Position changes disclosed by Osterweis Capital Management INC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	JBTM 0.25 05-15-26	Jbt Marel CORP	+2%	+910.50%	Add
2	PEB 1.75 12-15-26	Pebblebrook Hotel Trust	+1.4%	+281.82%	Add
3	ABBV	Abbvie INC	+1.2%	+2765.32%	Add
4	ZD 1.75 11-01-26	Ziff Davis INC	+1.1%	+188.77%	Add
5	NVDA	Nvidia CORP	+1%	+72.58%	Add
6	AMAT	Applied Materials INC	+0.9%	-7.03%	Trim
7	ADI	Analog Devices INC	+0.7%	-1.10%	Trim
8	NXT	Nextpower Inc-cl A	+0.3%	+70.64%	Add
9	V	Visa Inc-class A Shares	+0.1%	+1.88%	Add
10	LLY	Eli Lilly & Co	+0.1%	+0.02%	Add
11	GOOG	Alphabet Inc-cl C	+0.1%	-8.92%	Trim
12	DHR	Danaher CORP	+0.1%	+1.52%	Add
13	PGR	Progressive CORP	0%	-4.30%	Trim
14	LAMR	Lamar Advertising Co-a	-0.1%	-21.33%	Trim
15	BRO	Brown & Brown INC	-0.1%	-6.68%	Trim
16	AVGO	Broadcom INC	-0.2%	-14.84%	Trim
17	FSV	Firstservice CORP	-0.2%	-36.61%	Trim
18	CHYM	Chime Financial Inc-cl A	-0.3%	-51.45%	Trim
19	TTAN	Servicetitan Inc-a	-0.3%	-49.19%	Trim
20	AMZN	Amazon.com INC	-0.5%	-22.97%	Trim
21	MSFT	Microsoft CORP	-0.9%	-18.09%	Trim
22	CRM	Salesforce INC	-1.1%	-99.49%	Trim
23	ABNB 0 03-15-26	Airbnb INC	—	EXIT	Sold out
24	BSY 0.125 01-15-26	Bentley Systems INC	—	EXIT	Sold out
25	VAC 0 01-15-26	Marriott Vacation Worldw	—	EXIT	Sold out
26	INN 1.5 02-15-26	Summit Hotel Properties	—	EXIT	Sold out
27	CABO 0 03-15-26	Cable One INC	—	EXIT	Sold out
28	ENPH 0 03-01-26	Enphase Energy INC	—	EXIT	Sold out
29	AFRM 0 11-15-26	Affirm Holdings INC	—	NEW	New buy
30	HAE 0 03-01-26	Haemonetics CORP	—	EXIT	Sold out
31	VAC 3.25 12-15-27	Marriott Vacation Worldw	—	NEW	New buy
32	MTN 0 01-01-26	Vail Resorts INC	—	EXIT	Sold out
33	ALRM 0 01-15-26	Alarm.com Hldgs INC	—	EXIT	Sold out
34	PENN 2.75 05-15-26	Penn Entertainment INC	—	NEW	New buy
35	QTWO 0.75 06-01-26	Q2 Holdings INC	—	NEW	New buy
36	INTU	Intuit INC	—	EXIT	Sold out
37	PSA	Public Storage	—	NEW	New buy
38	SLB	Slb LTD	—	NEW	New buy
39	UPWK 0.25 08-15-26	Upwork INC	—	NEW	New buy
40	VITL	Vital Farms INC	—	EXIT	Sold out
41	DOCN	Digitalocean Holdings INC	—	NEW	New buy
42	BOOT	Boot Barn Holdings INC	—	NEW	New buy
43	HURN	Huron Consulting Group INC	—	EXIT	Sold out
44	WAY	Waystar Holding CORP	—	EXIT	Sold out
45	LOAR	Loar Holdings INC	—	NEW	New buy
46	GWRE	Guidewire Software INC	—	EXIT	Sold out
47	TRNS	Transcat INC	—	NEW	New buy
48	MGY	Magnolia Oil & Gas CORP - A	—	EXIT	Sold out
49	ALHC	Alignment Healthcare INC	—	NEW	New buy
50	COGT	Cogent Biosciences INC	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-15	13F-HR	View on EDGAR
2025-12-31	2026-02-17	13F-HR	View on EDGAR
2025-09-30	2025-11-14	13F-HR	View on EDGAR
2025-06-30	2025-08-14	13F-HR	View on EDGAR
2025-03-31	2025-06-05	Amendment	View on EDGAR
2025-03-31	2025-05-14	13F-HR	View on EDGAR
2024-12-31	2025-06-05	Amendment	View on EDGAR
2024-12-31	2025-02-13	13F-HR	View on EDGAR
2024-09-30	2024-11-14	13F-HR	View on EDGAR
2024-06-30	2024-08-14	13F-HR	View on EDGAR
2024-03-31	2024-05-15	13F-HR	View on EDGAR
2023-12-31	2024-02-14	13F-HR	View on EDGAR
2023-09-30	2023-11-14	13F-HR	View on EDGAR
2023-06-30	2023-08-14	13F-HR	View on EDGAR
2023-03-31	2023-05-15	13F-HR	View on EDGAR
2022-12-31	2023-02-14	13F-HR	View on EDGAR
2022-09-30	2022-11-14	13F-HR	View on EDGAR
2022-06-30	2022-08-15	13F-HR	View on EDGAR
2022-03-31	2022-05-16	13F-HR	View on EDGAR
2021-12-31	2022-02-14	13F-HR	View on EDGAR
2021-09-30	2021-11-15	13F-HR	View on EDGAR
2021-06-30	2021-08-16	13F-HR	View on EDGAR
2021-03-31	2021-05-14	13F-HR	View on EDGAR
2020-12-31	2021-02-12	13F-HR	View on EDGAR
2020-09-30	2020-11-13	13F-HR	View on EDGAR
2020-06-30	2020-08-14	13F-HR	View on EDGAR
2020-03-31	2020-05-15	13F-HR	View on EDGAR
2019-12-31	2020-02-14	13F-HR	View on EDGAR
2019-09-30	2019-11-14	13F-HR	View on EDGAR
2019-06-30	2019-08-14	13F-HR	View on EDGAR
2019-03-31	2019-05-15	13F-HR	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR
2018-09-30	2018-11-13	13F-HR	View on EDGAR
2018-06-30	2018-08-13	13F-HR	View on EDGAR
2018-03-31	2018-05-14	13F-HR	View on EDGAR
2017-12-31	2018-02-14	13F-HR	View on EDGAR
2017-09-30	2017-11-13	13F-HR	View on EDGAR
2017-06-30	2017-08-15	13F-HR	View on EDGAR
2017-03-31	2017-05-15	13F-HR	View on EDGAR
2016-12-31	2017-02-13	13F-HR	View on EDGAR
2016-09-30	2016-11-14	13F-HR	View on EDGAR
2016-06-30	2016-08-12	13F-HR	View on EDGAR
2016-03-31	2016-05-16	13F-HR	View on EDGAR
2015-12-31	2016-02-11	13F-HR	View on EDGAR
2015-09-30	2015-11-13	13F-HR	View on EDGAR
2015-06-30	2015-08-17	13F-HR	View on EDGAR
2015-03-31	2015-05-14	13F-HR	View on EDGAR
2014-12-31	2015-02-13	13F-HR	View on EDGAR
2014-09-30	2014-11-13	13F-HR	View on EDGAR
2014-06-30	2014-08-14	13F-HR	View on EDGAR
2014-03-31	2014-05-15	13F-HR	View on EDGAR
2013-12-31	2014-02-13	13F-HR	View on EDGAR
2013-09-30	2013-11-14	13F-HR	View on EDGAR
2013-06-30	2013-08-15	13F-HR	View on EDGAR