OSTERWEIS CAPITAL MANAGEMENT INC Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$2.4T

Holdings

285

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (285 positions)

#StockSharesValue% PortfolioType
1
GOOGALPHABET INC
359,207$112.0B4.74%
2
MSFTMICROSOFT CORP
176,624$84.0B3.56%
3
AMZNAMAZON COM INC
336,333$77.0B3.26%
4
ABNB 0 03/15/26AIRBNB INC
76,750,000$76.0B3.22%
5
BSY 0.125 01/15/26BENTLEY SYS INC
75,804,000$75.0B3.18%
6
VAC 0 01/15/26MARRIOTT VACATIONS WORLDWIDE
71,011,000$70.0B2.96%
7
INN 1.5 02/15/26SUMMIT HOTEL PPTYS
70,537,000$70.0B2.96%
8
CABO 0 03/15/26CABLE ONE INC
70,305,000$69.0B2.92%
9
ENPH 0 03/01/26ENPHASE ENERGY INC
68,500,000$67.0B2.84%
10
AVGOBROADCOM INC
182,116$62.0B2.62%
11
VVISA INC
141,242$49.0B2.07%
12
HAE 0 03/01/26HAEMONETICS CORP MASS
48,570,000$48.0B2.03%
13
LLYELI LILLY & CO
44,778$47.0B1.99%
14
JPMJPMORGAN CHASE & CO.
138,995$44.0B1.86%
15
DHRDANAHER CORPORATION
188,105$42.0B1.78%
16
ALRM 0 01/15/26ALARM COM HLDGS INC
41,165,000$41.0B1.74%
17
MTN 0 01/01/26VAIL RESORTS INC
41,704,000$41.0B1.74%
18
WCNWASTE CONNECTIONS INC
237,665$41.0B1.74%
19
ADIANALOG DEVICES INC
151,936$40.0B1.69%
20
AWCAMERICAN WTR WKS CO INC NEW
303,095$38.0B1.61%
21
AZOAUTOZONE INC
11,327$38.0B1.61%
22
AMATAPPLIED MATLS INC
152,877$38.0B1.61%
23
APDAIR PRODS & CHEMS INC
143,308$34.0B1.44%
24
BROBROWN & BROWN INC
425,746$33.0B1.40%
25
TRNOTERRENO RLTY CORP
575,384$33.0B1.40%
26
PGRPROGRESSIVE CORP
151,278$33.0B1.40%
27
LAMRLAMAR ADVERTISING CO NEW
255,798$32.0B1.35%
28
LHXL3HARRIS TECHNOLOGIES INC
109,070$31.0B1.31%
29
KEYSKEYSIGHT TECHNOLOGIES INC
150,363$29.0B1.23%
30
AMEAMETEK INC
143,205$29.0B1.23%
31
USFDUS FOODS HLDG CORP
391,536$29.0B1.23%
32
ICEINTERCONTINENTAL EXCHANGE IN
174,553$28.0B1.19%
33
INTUINTUIT
43,190$28.0B1.19%
34
FERGFERGUSON ENTERPRISES INC
119,258$26.0B1.10%
35
BSXBOSTON SCIENTIFIC CORP
269,480$25.0B1.06%
36
CRMSALESFORCE INC
97,748$25.0B1.06%
37
NVDANVIDIA CORPORATION
132,507$24.0B1.02%
38
BABOEING CO
108,701$23.0B0.97%
39
CPCANADIAN PACIFIC KANSAS CITY
323,619$23.0B0.97%
40
SNPSSYNOPSYS INC
43,251$19.0B0.80%
41
DEDEERE & CO
43,534$19.0B0.80%
42
NVRNVR INC
2,625$18.0B0.76%
43
LHLABCORP HOLDINGS INC
76,063$18.0B0.76%
44
METAMETA PLATFORMS INC
25,247$16.0B0.68%
45
CWSTCASELLA WASTE SYS INC
160,735$15.0B0.64%
46
FSVFIRSTSERVICE CORP NEW
102,354$15.0B0.64%
47
CECOCECO ENVIRONMENTAL CORP
223,682$13.0B0.55%
48
GHGUARDANT HEALTH INC
135,936$13.0B0.55%
49
CPAYCORPAY INC
43,422$12.0B0.51%
50
BB4AXOS FINANCIAL INC
142,685$12.0B0.51%
51
AAPLAPPLE INC
45,788$12.0B0.51%
52
LTHLIFE TIME GROUP HOLDINGS INC
482,665$12.0B0.51%
53
TTANSERVICETITAN INC
117,055$12.0B0.51%
54
1GSNNOVANTA INC
101,695$12.0B0.51%
55
LSCCLATTICE SEMICONDUCTOR CORP
160,565$11.0B0.47%
56
MODMODINE MFG CO
89,222$11.0B0.47%
57
GKOSGLAUKOS CORP
101,613$11.0B0.47%
58
NVSNNOVARTIS AG
87,683$11.0B0.47%
59
VCELVERICEL CORP
322,975$11.0B0.47%
60
ZD 1.75 11/01/26ZIFF DAVIS INC
10,595,000$10.0B0.42%
61
VITLVITAL FARMS INC
335,630$10.0B0.42%
62
SITMSITIME CORP
30,698$10.0B0.42%
63
MTSIMACOM TECH SOLUTIONS HLDGS I
60,970$10.0B0.42%
64
AORTARTIVION INC
220,727$10.0B0.42%
65
CHYMCHIME FINL INC
422,350$10.0B0.42%
66
SPXCSPX TECHNOLOGIES INC
48,130$9.0B0.38%
67
TPBTURNING PT BRANDS INC
84,555$9.0B0.38%
68
HNGEHINGE HEALTH INC
172,260$8.0B0.34%
69
TWSTTWIST BIOSCIENCE CORP
256,878$8.0B0.34%
70
PEB 1.75 12/15/26PEBBLEBROOK HOTEL TR
8,871,000$8.0B0.34%
71
VSECVSE CORP
48,460$8.0B0.34%
72
HURNHURON CONSULTING GROUP INC
48,660$8.0B0.34%
73
ATRCATRICURE INC
203,575$8.0B0.34%
74
WAYWAYSTAR HLDG CORP
253,275$8.0B0.34%
75
RMBS*RAMBUS INC DEL
89,065$8.0B0.34%
76
RGENREPLIGEN CORP
54,635$8.0B0.34%
77
MGYMAGNOLIA OIL & GAS CORP
325,647$7.0B0.30%
78
PLMRPALOMAR HLDGS INC
57,510$7.0B0.30%
79
PRCTPROCEPT BIOROBOTICS CORP
237,480$7.0B0.30%
80
GWREGUIDEWIRE SOFTWARE INC
37,644$7.0B0.30%
81
TWLOTWILIO INC
55,215$7.0B0.30%
827,750,000$6.0B0.25%
83
SIMOSILICON MOTION TECHNOLOGY CO
56,335$5.0B0.21%
84
CAVACAVA GROUP INC
87,415$5.0B0.21%
85
NXTNEXTPOWER INC
48,250$4.0B0.17%
86
ADSKAUTODESK INC
14,000$4.0B0.17%
87
AGYSAGILYSYS INC
39,420$4.0B0.17%
88
JBTM 0.25 05/15/26JBT MAREL CORPORATION
4,085,000$4.0B0.17%
89
AFRMAFFIRM HLDGS INC
46,209$3.0B0.13%
90
BRK-BBERKSHIRE HATHAWAY INC DEL
5$3.0B0.13%
91
AMPXAMPRIUS TECHNOLOGIES INC
454,830$3.0B0.13%
92
FICOFAIR ISAAC CORP
1,292$2.0B0.08%
93
EPDENTERPRISE PRODS PARTNERS L
87,815$2.0B0.08%
94
BRK/BBERKSHIRE HATHAWAY INC DEL
5,805$2.0B0.08%
95
SCHBSCHWAB STRATEGIC TR
90,152$2.0B0.08%
96
BRZEBRAZE INC
69,305$2.0B0.08%
97
WDAYWORKDAY INC
6,000$1.0B0.04%
98
VOOVANGUARD INDEX FDS
2,283$1.0B0.04%
99
ESSESSEX PPTY TR INC
4,000$1.0B0.04%
100
PGPROCTER AND GAMBLE CO
17,146$1.0B0.04%
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