Air Products and Chemicals, Inc.
MX ˙ BMV ˙ US0091581068
SecurityMX:APD / Air Products and Chemicals, Inc.
InstitutionOsterweis Capital Management Inc
Latest Disclosed Ownership114,446 shares
Latest Disclosed Value $ 33,245,419
Osterweis Capital Management Inc reports 20.14% decrease in ownership of APD / Air Products and Chemicals, Inc.

On May 15, 2026 - Osterweis Capital Management Inc filed a 13F-HR form disclosing ownership of 114,446 shares of Air Products and Chemicals, Inc. (MX:APD) valued at $33,245,419 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 143,308 shares of Air Products and Chemicals, Inc.. This represents a change in shares of -20.14% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F AIR PRODUCTS AND CHEMICALS I COM 009158106 114,446 -28,862 -20.14 33,245 -6.08 1.3008
2026-02-17 2025-12-31 13F AIR PRODS & CHEMS COM 009158106 143,308 -5,749 -3.86 35,400 -12.92 1.4983
2025-11-14 2025-09-30 13F AIR PRODS & CHEMS COM 009158106 149,057 73 0.05 40,651 -3.26 1.8345
2025-08-14 2025-06-30 13F AIR PRODS & CHEMS COM 009158106 148,984 42,791 40.30 42,022 34.18 2.0106
2025-06-05 2025-03-31 13F/A-1 AIR PRODS & CHEMS COM 009158106 106,193 -14,114 -11.73 31,318 -10.25 1.5458
2025-05-14 2025-03-31 13F AIR PRODS & CHEMS COM 009158106 106,193 -14,114 313,184 1.2382
2025-06-05 2024-12-31 13F/A-1 AIR PRODS & CHEMS COM 009158106 120,307 -20,301 -14.44 34,894 -16.65 1.6236
2025-02-13 2024-12-31 13F AIR PRODS & CHEMS COM 009158106 120,307 -20,301 35 1.6237
2024-11-14 2024-09-30 13F AIR PRODS & CHEMS COM 009158106 140,608 588 0.42 41,865 15.86 2.1209
2024-08-14 2024-06-30 13F AIR PRODS & CHEMS COM 009158106 140,020 186 0.13 36,132 6.66 1.8669
2024-05-15 2024-03-31 13F AIR PRODS & CHEMS COM 009158106 139,834 692 0.50 33,877 -11.08 1.9897
2024-02-14 2023-12-31 13F AIR PRODS & CHEMS COM 009158106 139,142 4,740 3.53 38,097 0.02 2.4181
2023-11-14 2023-09-30 13F AIR PRODS & CHEMS COM 009158106 134,402 -4,527 -3.26 38,089 -8.47 2.7905
2023-08-14 2023-06-30 13F AIR PRODS & CHEMS COM 009158106 138,929 -1,541 -1.10 41,613 3.15 2.7545
2023-05-15 2023-03-31 13F AIR PRODS & CHEMS COM 009158106 140,470 0 0.00 40,344 -6.83 2.7442
2023-02-14 2022-12-31 13F AIR PRODS & CHEMS COM 009158106 140,470 -13,312 -8.66 43,301 20.99 3.1440
2022-11-14 2022-09-30 13F AIR PRODS & CHEMS COM 009158106 153,782 19,745 14.73 35,789 11.03 2.6848
2022-08-15 2022-06-30 13F AIR PRODS & CHEMS COM 009158106 134,037 -1,592 -1.17 32,234 -4.90 2.4144
2022-05-16 2022-03-31 13F AIR PRODS & CHEMS COM 009158106 135,629 554 0.41 33,895 -17.53 1.8644
2022-02-14 2021-12-31 13F AIR PRODS & CHEMS COM 009158106 135,075 -1,722 -1.26 41,098 17.31 2.0562
2021-11-15 2021-09-30 13F AIR PRODS & CHEMS COM 009158106 136,797 13,650 11.08 35,035 -1.11 1.9126
2021-08-16 2021-06-30 13F AIR PRODS & CHEMS COM 009158106 123,147 170 0.14 35,427 2.40 1.8221
2021-05-14 2021-03-31 13F AIR PRODS & CHEMS COM 009158106 122,977 19,798 19.19 34,598 22.73 1.8857
2021-02-12 2020-12-31 13F AIR PRODS & CHEMS COM 009158106 103,179 9,980 10.71 28,190 1.55 1.6815
2020-11-13 2020-09-30 13F AIR PRODS & CHEMS COM 009158106 93,199 -1,165 -1.23 27,761 21.84 1.8734
2020-08-14 2020-06-30 13F AIR PRODS & CHEMS COM 009158106 94,364 39,475 71.92 22,785 107.97 1.6518
2020-05-15 2020-03-31 13F AIR PRODS & CHEMS COM 009158106 54,889 54,889 10,956 0.8896
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.