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Asset Manager ← All Institutions

OSTERWEIS CAPITAL MANAGEMENT INC

Q4 2025 · Filed 2026-02-17
Market Value
$1.7B
+3.1%
Holdings
301
+20
New Purchases
46
Added To
48
Closed
35
Reduced
76
Top 10 Concentration
35.0%
Turnover
26.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
USFD 1.70% 0.00% +1.70% $29M
NVR 1.10% 0.00% +1.10% $19M
NOVT 0.70% 0.00% +0.70% $12M
LLY 2.77% 2.18% +0.60% $48M
MTSI 0.60% 0.11% +0.49% $10M
HURN 0.49% 0.00% +0.49% $8M
VSEC 0.48% 0.00% +0.48% $8M
TWST 0.47% 0.00% +0.47% $8M
HNGE 0.46% 0.00% +0.46% $8M
TWLO 0.45% 0.00% +0.45% $8M
PLMR 0.45% 0.00% +0.45% $8M
CHYM 0.61% 0.23% +0.38% $11M
ICE 1.63% 1.25% +0.38% $28M
CAVA 0.30% 0.00% +0.30% $5M
NXT 0.24% 0.00% +0.24% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 4.93% 5.91% -0.98% $85M
AZO 2.22% 2.98% -0.76% $38M
TREX 0.00% 0.60% -0.60% $0
AVGO 3.63% 4.15% -0.51% $63M
CWAN 0.00% 0.48% -0.48% $0
RMBS 0.47% 0.94% -0.47% $8M
GWRE 0.44% 0.88% -0.44% $8M
BRO 1.96% 2.36% -0.41% $34M
SITM 0.63% 1.03% -0.40% $11M
APD 2.04% 2.42% -0.38% $35M
RBRK 0.00% 0.37% -0.37% $0
DHR 2.48% 2.84% -0.36% $43M
ENSG 0.00% 0.30% -0.30% $0
ADMA 0.00% 0.27% -0.27% $0
LH 1.10% 1.33% -0.23% $19M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 56 $610M 35.2%
Large Cap 173 $825M 47.6%
Mid Cap 55 $231M 13.3%
Small Cap 17 $68M 3.9%

Portfolio Analytics

Avg Market Cap
$220.3B
Median Market Cap
$46.4B
Avg P/E
36.9
Median P/E
25.6
Avg Dividend Yield
0.01%
Avg Beta
1.02
# Stocks
281
# ETFs / Funds
20

Top Holdings (301 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 GOOG 6.50% 359,207 $113M $313.80 $6M -80,323 -18.3%
2 MSFT 4.93% 176,624 $85M $483.62 -$14M -15,140 -7.9%
3 AMZN 4.48% 336,333 $78M $230.82 -$140K -17,868 -5.0%
4 AVGO 3.63% 182,116 $63M $346.10 -$7M -29,249 -13.8%
5 V 2.86% 141,242 $50M $350.71 $1M -849 -0.6%
6 LLY 2.77% 44,778 $48M $1,074.68 $12M -3,204 -6.7%
7 JPM 2.58% 138,995 $45M $322.22 -$94K -3,291 -2.3%
8 DHR 2.48% 188,105 $43M $228.92 -$5M -53,137 -22.0%
9 WCN 2.40% 237,665 $42M $175.36 $4M +23,868 +11.2%
10 ADI 2.38% 151,936 $41M $271.20 $3M -4,884 -3.1%
11 AWK 2.28% 303,095 $40M $130.50 -$2M +5,036 +1.7%
12 AMAT 2.27% 152,877 $39M $256.99 $1M -32,869 -17.7%
13 AZO 2.22% 11,327 $38M $3,391.50 -$12M -342 -2.9%
14 APD 2.04% 143,308 $35M $247.02 -$5M -5,749 -3.9%
15 PGR 1.99% 151,278 $34M $227.72 -$3M +295 +0.2%
16 BRO 1.96% 425,746 $34M $79.70 -$6M +2,155 +0.5%
17 TRNO 1.95% 575,384 $34M $58.71 -$519K -29,020 -4.8%
18 LAMR 1.87% 255,798 $32M $126.58 -$78 -8,693 -3.3%
19 LHX 1.85% 109,070 $32M $293.57 -$3M -4,264 -3.8%
20 KEYS 1.76% 150,363 $31M $203.19 -$146K -25,134 -14.3%
21 USFD 1.70% 391,536 $29M $75.32 +391,536 NEW
22 AME 1.70% 143,205 $29M $205.31 $1M -5,459 -3.7%
23 INTU 1.65% 43,190 $29M $662.42 -$1M -706 -1.6%
24 ICE 1.63% 174,553 $28M $161.96 $7M +49,390 +39.5%
25 FERG 1.53% 119,258 $27M $222.63 -$2M -7,457 -5.9%
26 CRM 1.49% 97,748 $26M $264.91 $3M -815 -0.8%
27 BSX 1.48% 269,480 $26M $95.35 -$2M -14,722 -5.2%
28 NVDA 1.43% 132,507 $25M $186.50 -$520K -2,732 -2.0%
29 BA 1.36% 108,701 $24M $217.12 -$436K -2,668 -2.4%
30 SNPS 1.17% 43,251 $20M $469.72 -$2M -1,036 -2.3%
31 DE 1.17% 43,534 $20M $465.57 $1M +1,611 +3.8%
32 NVR 1.10% 2,625 $19M $7,292.77 +2,625 NEW
33 LH 1.10% 76,063 $19M $250.88 -$3M -2,085 -2.7%
34 META 0.96% 25,247 $17M $660.09 -$2M -452 -1.8%
35 FSV 0.92% 102,354 $16M $155.53 -$2M +10,760 +11.8%
36 CWST 0.91% 160,735 $16M $97.94 $4M +37,550 +30.5%
37 GH 0.80% 135,936 $14M $102.14 $451K -79,075 -36.8%
38 CECO 0.77% 223,682 $13M $59.85 $3M +13,650 +6.5%
39 LTH 0.74% 482,665 $13M $26.58 $4M +152,340 +46.1%
40 TTAN 0.72% 117,055 $12M $106.50 $3M +20,545 +21.3%
41 AAPL 0.72% 45,788 $12M $271.86 $302K -1,913 -4.0%
42 AX 0.71% 142,685 $12M $86.16 $277K +730 +0.5%
43 NOVT 0.70% 101,695 $12M $118.99 +101,695 NEW
44 NVS 0.70% 87,683 $12M $137.87 $717K -994 -1.1%
45 MOD 0.69% 89,222 $12M $133.51 $3M +26,620 +42.5%
46 LSCC 0.68% 160,565 $12M $73.58 $2M +28,340 +21.4%
47 VCEL 0.67% 322,975 $12M $36.01 $2M +14,920 +4.8%
48 GKOS 0.66% 101,613 $11M $112.91 -$130K -40,675 -28.6%
49 SITM 0.63% 30,698 $11M $353.19 -$6M -26,533 -46.4%
50 VITL 0.62% 335,630 $11M $31.94 $1M +104,215 +45.0%
51 CHYM 0.61% 422,350 $11M $25.17 $7M +231,160 +120.9%
52 MTSI 0.60% 60,970 $10M $171.28 $9M +45,705 +299.4%
53 AORT 0.58% 220,727 $10M $45.61 -$127K -20,045 -8.3%
54 SPXC 0.56% 48,130 $10M $200.06 -$2M -12,648 -20.8%
55 TPB 0.53% 84,555 $9M $108.40 $903K +975 +1.2%
56 RGEN 0.52% 54,635 $9M $163.86 -$796K -18,295 -25.1%
57 HURN 0.49% 48,660 $8M $172.91 +48,660 NEW
58 VSEC 0.48% 48,460 $8M $172.77 +48,460 NEW
59 WAY 0.48% 253,275 $8M $32.75 $5K +34,665 +15.9%
60 RMBS 0.47% 89,065 $8M $91.89 -$8M -62,495 -41.2%
61 TWST 0.47% 256,878 $8M $31.72 +256,878 NEW
62 ATRC 0.46% 203,575 $8M $39.56 -$3M -118,505 -36.8%
63 HNGE 0.46% 172,260 $8M $46.45 +172,260 NEW
64 TWLO 0.45% 55,215 $8M $142.24 +55,215 NEW
65 PLMR 0.45% 57,510 $8M $134.76 +57,510 NEW
66 GWRE 0.44% 37,644 $8M $201.01 -$7M -26,794 -41.6%
67 PRCT 0.43% 237,480 $7M $31.46 -$869K +3,795 +1.6%
68 MGY 0.41% 325,647 $7M $21.89 -$4M -124,320 -27.6%
69 SIMO 0.30% 56,335 $5M $92.70 $2M +18,375 +48.4%
70 CAVA 0.30% 87,415 $5M $58.69 +87,415 NEW
71 AGYS 0.27% 39,420 $5M $118.84 -$3M -37,085 -48.5%
72 NXT 0.24% 48,250 $4M $87.11 +48,250 NEW
73 ADSK 0.24% 14,000 $4M $296.01 -$303K
74 BRK-A 0.22% 5 $4M $754,800.00 $3K
75 AMPX 0.21% 454,830 $4M $7.89 $2M +267,385 +142.7%
76 AFRM 0.20% 46,209 $3M $74.43 -$1M -17,310 -27.2%
77 BRK-B 0.17% 5,805 $3M $502.65 $76K +152 +2.7%
78 EPD 0.16% 87,815 $3M $32.06 $69K
79 PG 0.14% 17,146 $2M $143.31 -$222K -291 -1.7%
80 BRZE 0.14% 69,305 $2M $34.29 +69,305 NEW
81 SCHB 0.14% 90,152 $2M $26.23 -$59K -4,110 -4.4%
82 FICO 0.13% 1,292 $2M $1,690.62 $242K -6 -0.5%
83 GOOGL 0.11% 6,098 $2M $313.00 $500K +303 +5.2%
84 CDNL 0.11% 76,225 $2M $24.18 +76,225 NEW
85 PLTR 0.09% 9,202 $2M $177.75 -$50K -40 -0.4%
86 VOO 0.08% 2,283 $1M $627.01 -$9K -69 -2.9%
87 XOM 0.07% 10,797 $1M $120.34 $10K -638 -5.6%
88 WDAY 0.07% 6,000 $1M $214.78 -$156K
89 ESS 0.06% 4,000 $1M $261.68 -$24K
90 UNP 0.06% 4,259 $985K $231.32 -$22K -3 -0.1%
91 JNJ 0.05% 4,510 $933K $206.95 $112K +79 +1.8%
92 ABBV 0.05% 3,751 $857K $228.49 -$8K +17 +0.5%
93 XLK 0.04% 5,182 $746K $143.97 $16K +2,591 +100.0%
94 FTGC 0.04% 27,878 $648K $23.23 -$21K +2,053 +8.0%
95 AXP 0.03% 1,525 $564K $369.95 $58K
96 IEFA 0.03% 6,240 $558K $89.46 $13K
97 LEVI 0.03% 25,000 $518K $20.74 -$414K -15,000 -37.5%
98 HYS 0.03% 5,370 $509K $94.82 -$5K
99 MRK 0.03% 4,431 $466K $105.26 $115K +248 +5.9%
100 TSLA 0.03% 1,034 $465K $449.72 $87K +184 +21.6%

New Positions

SymbolValue% Port
USFD $29M 1.70%
NVR $19M 1.10%
NOVT $12M 0.70%
HURN $8M 0.49%
VSEC $8M 0.48%
TWST $8M 0.47%
HNGE $8M 0.46%
TWLO $8M 0.45%
PLMR $8M 0.45%
CAVA $5M 0.30%
NXT $4M 0.24%
BRZE $2M 0.14%
CDNL $2M 0.11%
BIL $307K 0.02%
VGSH $167K 0.01%

Sold Out Positions

SymbolValue% Port
AIR —%
ARMK —%
VEEV —%
HUBS —%
TREX —%
CHWY —%
KVYO —%
AEE —%
WEC —%
TRU —%
CBRE —%
PHG —%
SLB —%
MTD —%
SOLV —%
View SEC EDGAR Filings for OSTERWEIS CAPITAL MANAGEMENT INC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms