2026 Q1 Portfolio Activity
In 2026 Q1, OSTERWEIS CAPITAL MANAGEMENT INC maintained a portfolio of 303 distinct positions. The most significant new addition was PENN ENTERTAINMENT INC, now representing 1.83% of the total fund value. They heavily accumulated shares in AFFIRM HLDGS INC, increasing the position by 1307.6%. The fund also reduced its exposure to AIRBNB INC by 89.9%.
Position History
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Total Positions
303
Quarter
2026 Q1
Top Holding
GOOG (4.8%)
Top 10 Concentration
27.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 303
OSTERWEIS CAPITAL MANAGEMENT INC Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
GOOG
ALPHABET INC
|
Communication Services | 4.84% | 4.77% |
#1
Prev: #1
|
4.4 |
—
|
-32,049 | -8.9% |
P
S
|
327,158 | $93,848,544 |
$79.52
+382.8%
|
2012 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
AFFIRM HLDGS IN...
|
|
Bond/Debt | 2.88% | — |
#2
Prev: #—
|
6.2 |
—
|
57,500,000 | — |
NEW
|
57,500,000 | $55,775,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 2.78% | 3.29% |
#3
Prev: #3
|
2.1 |
—
|
-77,268 | -23.0% |
P
S
|
259,065 | $53,955,468 |
$127.02
+108.5%
|
2020 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
MSFT
MICROSOFT CORP
|
Technology | 2.76% | 3.62% |
#4
2
Prev: #2
|
2.1 |
—
|
-31,958 | -18.1% |
P
S
|
144,666 | $53,551,013 | 1999 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AMAT
APPLIED MATLS I...
|
Technology | 2.51% | 1.66% |
#5
16
Prev: #21
|
2.0 |
—
|
-10,745 | -7.0% |
P
S
|
142,132 | $48,579,296 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
MARRIOTT VACATI...
|
|
Bond/Debt | 2.48% | — |
#6
Prev: #—
|
4.5 |
—
|
50,000,000 | — |
NEW
|
50,000,000 | $48,125,000 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
AVGO
BROADCOM INC
|
Technology | 2.48% | 2.67% |
#7
3
Prev: #10
|
1.5 |
—
|
-27,022 | -14.8% |
P
S
|
155,094 | $48,003,144 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ADI
ANALOG DEVICES ...
|
Technology | 2.47% | 1.74% |
#8
11
Prev: #19
|
1.5 |
—
|
-1,677 | -1.1% |
P
S
|
150,259 | $47,803,398 | 2017 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
V
VISA INC
|
Financial Services | 2.24% | 2.10% |
#9
2
Prev: #11
|
1.4 |
—
|
2,659 | 1.9% |
P
S
|
143,901 | $43,492,639 | 2008 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AZO
AUTOZONE INC
|
Consumer Cyclical | 2.20% | 1.63% |
#10
12
Prev: #22
|
2.9 |
—
|
1,274 | 11.2% |
P
S
|
12,601 | $42,563,405 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
JPM
JPMORGAN CHASE ...
|
Financial Services | 2.15% | 1.90% |
#11
3
Prev: #14
|
1.4 |
—
|
2,458 | 1.8% |
P
S
|
141,453 | $41,609,814 | 1999 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
JBT MAREL CORPO...
|
|
Bond/Debt | 2.13% | 0.18% |
#12
75
Prev: #87
|
3.9 |
—
|
37,194,000 | 910.5% |
P
S
|
41,279,000 | $41,206,762 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
LLY
ELI LILLY & CO
|
Healthcare | 2.12% | 2.04% |
#13
Prev: #13
|
1.3 |
—
|
10 | 0.0% |
P
S
|
44,788 | $41,194,659 | 1999 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NVDA
NVIDIA CORPORAT...
|
Technology | 2.06% | 1.05% |
#14
23
Prev: #37
|
3.8 |
—
|
96,172 | 72.6% |
P
S
|
228,679 | $39,881,618 | 2013 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WCN
WASTE CONNECTIO...
|
Industrials | 2.02% | 1.76% |
#15
2
Prev: #17
|
1.3 |
—
|
3,097 | 1.3% |
P
S
|
240,762 | $39,109,380 | 2018 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DHR
DANAHER CORP DE...
|
Healthcare | 1.87% | 1.82% |
#16
1
Prev: #15
|
1.2 |
—
|
2,856 | 1.5% |
P
S
|
190,961 | $36,206,206 | 2004 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PENN
PENN ENTERTAINM...
|
Bond/Debt | 1.83% | — |
#17
Prev: #—
|
4.2 |
—
|
35,453,000 | — |
NEW
|
35,453,000 | $35,461,863 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
Q2 HLDGS INC
|
|
Bond/Debt | 1.82% | — |
#18
Prev: #—
|
4.2 |
—
|
35,428,000 | — |
NEW
|
35,428,000 | $35,282,720 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
AWK
AMERICAN WTR WK...
|
Utilities | 1.80% | 1.67% |
#19
1
Prev: #20
|
1.2 |
—
|
-46,663 | -15.4% |
P
S
|
256,432 | $34,897,831 | 2009 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TRNO
TERRENO RLTY CO...
|
Real Estate | 1.76% | 1.43% |
#20
6
Prev: #26
|
1.2 |
—
|
-19,674 | -3.4% |
P
S
|
555,710 | $34,131,708 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
APD
AIR PRODUCTS AN...
|
Basic Materials | 1.71% | 1.50% |
#21
2
Prev: #23
|
0.7 |
—
|
-28,862 | -20.1% |
P
S
|
114,446 | $33,245,419 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
PEBBLEBROOK HOT...
|
|
Bond/Debt | 1.71% | 0.36% |
#22
47
Prev: #69
|
3.7 |
—
|
25,000,000 | 281.8% |
P
S
|
33,871,000 | $33,075,822 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
USFD
US FOODS HLDG C...
|
Consumer Defensive | 1.68% | 1.25% |
#23
7
Prev: #30
|
1.2 |
—
|
-37,453 | -9.6% |
P
S
|
354,083 | $32,649,993 | 2016 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KEYS
KEYSIGHT TECHNO...
|
Technology | 1.68% | 1.29% |
#24
5
Prev: #29
|
0.7 |
—
|
-34,970 | -23.3% |
P
S
|
115,393 | $32,583,522 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LHX
L3HARRIS TECHNO...
|
Industrials | 1.60% | 1.36% |
#25
3
Prev: #28
|
1.1 |
—
|
-19,202 | -17.6% |
P
S
|
89,868 | $31,017,940 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
ZIFF DAVIS INC
|
|
Bond/Debt | 1.55% | 0.44% |
#26
38
Prev: #64
|
3.6 |
—
|
20,000,000 | 188.8% |
P
S
|
30,595,000 | $30,059,588 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
PGR
PROGRESSIVE COR...
|
Financial Services | 1.48% | 1.46% |
#27
3
Prev: #24
|
1.1 |
—
|
-6,512 | -4.3% |
P
S
|
144,766 | $28,698,412 | 2016 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ICE
INTERCONTINENTA...
|
Financial Services | 1.43% | 1.20% |
#28
5
Prev: #33
|
1.1 |
—
|
2,345 | 1.3% |
P
S
|
176,898 | $27,822,517 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BSX
BOSTON SCIENTIF...
|
Healthcare | 1.43% | 1.09% |
#29
7
Prev: #36
|
3.6 |
—
|
172,712 | 64.1% |
P
S
|
442,192 | $27,747,548 | 2021 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
FERG
FERGUSON ENTERP...
|
Industrials | 1.42% | 1.12% |
#30
4
Prev: #34
|
1.1 |
—
|
-1,555 | -1.3% |
P
S
|
117,703 | $27,455,401 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BRO
BROWN & BROWN I...
|
Financial Services | 1.34% | 1.44% |
#31
6
Prev: #25
|
1.0 |
—
|
-28,435 | -6.7% |
P
S
|
397,311 | $25,908,651 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LAMR
LAMAR ADVERTISI...
|
Real Estate | 1.31% | 1.37% |
#32
5
Prev: #27
|
0.5 |
—
|
-54,562 | -21.3% |
P
S
|
201,236 | $25,488,552 | 2003 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CP
CANADIAN PACIFI...
|
Industrials | 1.31% | 1.01% |
#33
5
Prev: #38
|
1.0 |
—
|
-1,376 | -0.4% |
P
S
|
322,243 | $25,347,634 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AME
AMETEK INC
|
Industrials | 1.29% | 1.24% |
#34
3
Prev: #31
|
1.0 |
—
|
-26,311 | -18.4% |
P
S
|
116,894 | $25,057,398 | 2006 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DE
DEERE & CO
|
Industrials | 1.26% | 0.86% |
#35
6
Prev: #41
|
1.0 |
—
|
-43 | -0.1% |
P
S
|
43,491 | $24,498,480 | 1999 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ABBV
ABBVIE INC
|
Healthcare | 1.21% | 0.04% |
#36
71
Prev: #107
|
3.5 |
—
|
103,727 | 2765.3% |
P
S
|
107,478 | $23,375,391 | 2013 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BA
BOEING CO
|
Industrials | 1.12% | 1.00% |
#37
2
Prev: #39
|
0.9 |
—
|
405 | 0.4% |
P
S
|
109,106 | $21,715,368 | 2012 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PSA
PUBLIC STORAGE ...
|
Real Estate | 1.10% | — |
#38
Prev: #—
|
3.9 |
—
|
78,807 | — |
NEW
|
78,807 | $21,347,240 | 2016 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LH
LABCORP HOLDING...
|
Healthcare | 1.06% | 0.81% |
#39
4
Prev: #43
|
0.9 |
—
|
920 | 1.2% |
P
S
|
76,983 | $20,539,834 | 2003 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SLB
SLB LIMITED
|
Energy | 0.99% | — |
#40
Prev: #—
|
3.9 |
—
|
373,334 | — |
NEW
|
373,334 | $19,185,634 | 1999 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NVR
NVR INC
|
Consumer Cyclical | 0.93% | 0.81% |
#41
1
Prev: #42
|
0.9 |
—
|
100 | 3.8% |
P
S
|
2,725 | $17,957,287 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SNPS
SYNOPSYS INC
|
Technology | 0.90% | 0.86% |
#42
2
Prev: #40
|
0.9 |
—
|
783 | 1.8% |
P
S
|
44,034 | $17,458,601 | 2018 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
UPWORK INC
|
|
Bond/Debt | 0.74% | — |
#43
Prev: #—
|
3.8 |
—
|
14,680,000 | — |
NEW
|
14,680,000 | $14,404,750 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
META
META PLATFORMS ...
|
Communication Services | 0.74% | 0.71% |
#44
Prev: #44
|
0.8 |
—
|
-195 | -0.8% |
P
S
|
25,052 | $14,333,001 | 2017 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LTH
LIFE TIME GROUP...
|
Consumer Cyclical | 0.72% | 0.54% |
#45
5
Prev: #50
|
2.3 |
—
|
36,895 | 7.6% |
P
S
|
519,560 | $13,996,946 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AX
AXOS FINANCIAL ...
|
Financial Services | 0.72% | 0.52% |
#46
7
Prev: #53
|
2.3 |
—
|
21,055 | 14.8% |
P
S
|
163,740 | $13,932,637 | 2018 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GH
GUARDANT HEALTH...
|
Healthcare | 0.71% | 0.59% |
#47
Prev: #47
|
2.3 |
—
|
13,010 | 9.6% |
P
S
|
148,946 | $13,758,142 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CECO
CECO ENVIRONMEN...
|
Industrials | 0.70% | 0.57% |
#48
Prev: #48
|
0.8 |
—
|
2,935 | 1.3% |
P
S
|
226,617 | $13,501,841 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
VSEC
VSE CORP
|
Industrials | 0.69% | 0.35% |
#49
22
Prev: #71
|
2.8 |
—
|
24,164 | 49.9% |
P
S
|
72,624 | $13,391,866 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
VCEL
VERICEL CORP
|
Healthcare | 0.67% | 0.49% |
#50
8
Prev: #58
|
2.8 |
—
|
78,070 | 24.2% |
P
S
|
401,045 | $12,901,618 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 |
Showing 1-50 of 303 holdings