Osterweis Capital Management INC — 13F Filings Deep Dive

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

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 229 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 229

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

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

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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

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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

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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

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

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 229 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 229

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