OSTERWEIS CAPITAL MANAGEMENT INC
Long book
$1.62B
Q1 2026
Positions
197
Top-10 weight
32%
concentration
Last quarter
+17.2%
SPY +14.8%
Turnover
27%
of book per quarter
Strategy in plain words
auto-generated from filingsOSTERWEIS CAPITAL MANAGEMENT INC is an institutional manager, running a $1.62B US long book across 197 positions.
The portfolio is moderately concentrated (top 10 ≈ 32% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: ALPHABET INC-CL C, AMAZON.COM INC, MICROSOFT CORP, APPLIED MATERIALS INC, BROADCOM INC.
Over the last 9 quarters its long book ran on average 1.4pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.6%
Q2 2024
+5.1%
Q3 2024
-2.2%
Q4 2024
-6.6%
Q1 2025
+7.7%
Q2 2025
+5.1%
Q3 2025
+3.9%
Q4 2025
-4.1%
Q1 2026
+17.2%
Sector allocation
Technology 40%
Healthcare 13%
Consumer discretionary 11%
Financials 11%
Industrials 9%
Utilities 6%
Services media 6%
Materials 2%
Long book by quarter
What does OSTERWEIS CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| GOOG ALPHABET INC-CL C | Technology | 327.2K | $93.8M | 5.8% | -8.9% |
| AMZN AMAZON.COM INC | Consumer discretionary | 259.1K | $54.0M | 3.3% | -23.0% |
| MSFT MICROSOFT CORP | Technology | 144.7K | $53.6M | 3.3% | -18.1% |
| AMAT APPLIED MATERIALS INC | Technology | 142.1K | $48.6M | 3.0% | -7.0% |
| AVGO BROADCOM INC | Technology | 155.1K | $48.0M | 3.0% | -14.8% |
| ADI ANALOG DEVICES INC | Technology | 150.3K | $47.8M | 3.0% | -1.1% |
| V VISA INC-CLASS A SHARES | Services media | 143.9K | $43.5M | 2.7% | +1.9% |
| AZO AUTOZONE INC | Consumer discretionary | 12.6K | $42.6M | 2.6% | +11.2% |
| JPM JPMORGAN CHASE & CO | Financials | 141.5K | $41.6M | 2.6% | +1.8% |
| LLY ELI LILLY & CO | Healthcare | 44.8K | $41.2M | 2.5% | 0.0% |
| NVDA NVIDIA CORP | Technology | 228.7K | $39.9M | 2.5% | +72.6% |
| WCN WASTE CONNECTIONS INC | Utilities | 240.8K | $39.1M | 2.4% | +1.3% |
| DHR DANAHER CORP | Technology | 191.0K | $36.2M | 2.2% | +1.5% |
| AWK AMERICAN WATER WORKS CO INC | Utilities | 256.4K | $34.9M | 2.2% | -15.4% |
| APD AIR PRODUCTS & CHEMICALS INC | Materials | 114.4K | $33.2M | 2.1% | -20.1% |
| USFD US FOODS HOLDING CORP | Consumer discretionary | 354.1K | $32.6M | 2.0% | -9.6% |
| KEYS KEYSIGHT TECHNOLOGIES IN | Technology | 115.4K | $32.6M | 2.0% | -23.3% |
| LHX L3HARRIS TECHNOLOGIES INC | Technology | 89.9K | $31.0M | 1.9% | -17.6% |
| PGR PROGRESSIVE CORP | Financials | 144.8K | $28.7M | 1.8% | -4.3% |
| ICE INTERCONTINENTAL EXCHANGE IN | Financials | 176.9K | $27.8M | 1.7% | +1.3% |
| BSX BOSTON SCIENTIFIC CORP | Healthcare | 442.2K | $27.7M | 1.7% | +64.1% |
| FERG FERGUSON ENTERPRISES INC | Consumer discretionary | 117.7K | $27.5M | 1.7% | -1.3% |
| BRO BROWN & BROWN INC | Financials | 397.3K | $25.9M | 1.6% | -6.7% |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 322.2K | $25.3M | 1.6% | -0.4% |
| AME AMETEK INC | Technology | 116.9K | $25.1M | 1.6% | -18.4% |
| DE DEERE & CO | Industrials | 43.5K | $24.5M | 1.5% | -0.1% |
| ABBV ABBVIE INC | Healthcare | 107.5K | $23.4M | 1.4% | +2765.3% |
| BA BOEING CO/THE | Industrials | 109.1K | $21.7M | 1.3% | +0.4% |
| LH LABCORP HOLDINGS INC | Healthcare | 77.0K | $20.5M | 1.3% | +1.2% |
| SLB SLB LTD | Energy | 373.3K | $19.2M | 1.2% | New |
| NVR NVR INC | Industrials | 2.7K | $18.0M | 1.1% | +3.8% |
| SNPS SYNOPSYS INC | Technology | 44.0K | $17.5M | 1.1% | +1.8% |
| META META PLATFORMS INC-CLASS A | Technology | 25.1K | $14.3M | 0.9% | -0.8% |
| LTH LIFE TIME GROUP HOLDINGS INC | Services media | 519.6K | $14.0M | 0.9% | +7.6% |
| AX AXOS FINANCIAL INC | Financials | 163.7K | $13.9M | 0.9% | +14.8% |
| GH GUARDANT HEALTH INC | Healthcare | 148.9K | $13.8M | 0.9% | +9.6% |
| CECO CECO ENVIRONMENTAL CORP | Industrials | 226.6K | $13.5M | 0.8% | +1.3% |
| VSEC VSE CORP | Services media | 72.6K | $13.4M | 0.8% | +49.9% |
| VCEL VERICEL CORP | Healthcare | 401.0K | $12.9M | 0.8% | +24.2% |
| NOVT NOVANTA INC | Technology | 107.0K | $12.6M | 0.8% | +5.3% |
| CPAY CORPAY INC | Services media | 41.9K | $12.2M | 0.8% | -3.6% |
| CWST CASELLA WASTE SYSTEMS INC-A | Utilities | 148.3K | $11.8M | 0.7% | -7.8% |
| AAPL APPLE INC | Technology | 45.6K | $11.6M | 0.7% | -0.5% |
| RGEN REPLIGEN CORP | Healthcare | 92.2K | $10.9M | 0.7% | +68.8% |
| GKOS GLAUKOS CORP | Healthcare | 94.9K | $10.2M | 0.6% | -6.6% |
| TWST TWIST BIOSCIENCE CORP | Healthcare | 211.2K | $10.0M | 0.6% | -17.8% |
| ATRC ATRICURE INC | Healthcare | 349.6K | $10.0M | 0.6% | +71.8% |
| DOCN DIGITALOCEAN HOLDINGS INC | Technology | 116.0K | $9.9M | 0.6% | New |
| NXT NEXTPOWER INC-CL A | Technology | 82.3K | $9.9M | 0.6% | +70.6% |
| LSCC LATTICE SEMICONDUCTOR CORP | Technology | 105.9K | $9.8M | 0.6% | -34.0% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 277 | $1.94B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 331 | $2.36B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 320 | $2.22B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 327 | $2.09B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR/ARESTATEMENT | Jun 5, 2025 | 383 | $2.03B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 383 | $20.26B | SEC ↗ | |
| Q4 2024 | 13F-HR/ARESTATEMENT | Jun 5, 2025 | 246 | $2.15B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 246 | $2.1M | SEC ↗ | |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 240 | $1.97B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 243 | $1.94B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 236 | $1.70B | canonical | SEC ↗ |
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