Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  ALFANO JEFFREY J
 2. Date of Event Requiring Statement (Month/Day/Year)
05/09/2011		 3. Issuer Name and Ticker or Trading Symbol
OPPENHEIMER HOLDINGS INC [OPY]
(Last)
(First)
(Middle)
125 BROAD STREET		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Financial Officer
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10004		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Class A non-voting common stock 31,635
D
 
Class B voting common stock 60
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Class A non voting stock 01/15/2012 01/15/2012 Class A non voting common stock 1,124 $ 0 (1) D  
Restricted Class A non voting common stock 02/24/2014 02/24/2014 Class A non voting common stock 10,000 $ 0 (2) D  
Restricted Class A non voting common stock 01/27/2015 01/27/2015 Class A non voting common stock 10,000 $ 0 (3) D  
Restricted Class A non voting common stock 02/10/2016 02/10/2016 Class A non voting common stock 10,000 $ 0 (4) D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
ALFANO JEFFREY J
125 BROAD STREET
NEW YORK, NY 10004		       Chief Financial Officer  

Signatures

Jeffrey J. Alfano 05/13/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The transaction is a stock award granted under the Oppenheimer & Co. Inc. Employee Share Plan on 1/30/2009 with vesting on 1/15/2012.
(2) The transaction is a stock award granted under the Oppenheimer & Co. Inc. Employee Share Plan on 2/25/2009 with vesting on the fifth anniverary of the grant.
(3) The transaction is a stock award granted under the Oppenheimer & Co Inc. Employee Share Plan on 1/28/2010 with vesting on the fifth anniverary of the grant.
(4) The transaction is a stock award granted under the Oppenheimer Holdings Inc. 2006 Equity Incentive Plan on 1/29/2011 with vesting on 2/10/2016.

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