# Night Owl Capital Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1410833. Source: https://holderbook.com/funds/1410833-night-owl-capital-management-llc/

- Reported value: $952.8M
- Positions: 30
- Weight of the ten largest: 64.0%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $90.6M | 256,337 | 9.5% | 31 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $77.9M | 163,108 | 8.2% | 14 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $65.4M | 175,443 | 6.9% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $63.9M | 268,254 | 6.7% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $63.7M | 88,107 | 6.7% | 2 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $59.0M | 157,921 | 6.2% | 10 |
| WOODWARD INC | [WWD](https://holderbook.com/stocks/WWD/) | $54.2M | 127,375 | 5.7% | 5 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $51.5M | 189,178 | 5.4% | 13 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $46.8M | 83,116 | 4.9% | 10 |
| AON PLC | [AON](https://holderbook.com/stocks/AON/) | $36.8M | 110,978 | 3.9% | 26 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $33.3M | 96,957 | 3.5% | 31 |
| CARPENTER TECHNOLOGY CORP | [CRS](https://holderbook.com/stocks/CRS/) | $32.8M | 53,214 | 3.4% | 7 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $31.7M | 345,464 | 3.3% | 15 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $29.1M | 188,848 | 3.1% | 13 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $28.4M | 24,164 | 3.0% | 9 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $28.2M | 54,855 | 3.0% | 31 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $27.4M | 52,749 | 2.9% | 10 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $25.9M | 68,438 | 2.7% | 9 |
| HOWMET AEROSPACE INC | [HWM](https://holderbook.com/stocks/HWM/) | $22.4M | 83,475 | 2.4% | 7 |
| GE HEALTHCARE TECHNOLOGIES I | [GEHC](https://holderbook.com/stocks/GEHC/) | $18.1M | 283,292 | 1.9% | 3 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $14.5M | 31,592 | 1.5% | 5 |
| NATERA INC | [NTRA](https://holderbook.com/stocks/NTRA/) | $11.2M | 41,254 | 1.2% | 1 |
| GUIDEWIRE SOFTWARE INC | [GWRE](https://holderbook.com/stocks/GWRE/) | $10.2M | 82,825 | 1.1% | 5 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $7.8M | 77,949 | 0.8% | 8 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $6.9M | 4,052 | 0.7% | 5 |
| CONSTELLATION ENERGY CORP | [CEG](https://holderbook.com/stocks/CEG/) | $6.0M | 24,243 | 0.6% | 10 |
| TWIST BIOSCIENCE CORP | [TWST](https://holderbook.com/stocks/TWST/) | $4.7M | 45,837 | 0.5% | 1 |
| COSTAR GROUP INC | [CSGP](https://holderbook.com/stocks/CSGP/) | $3.1M | 110,871 | 0.3% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $748.9K | 1 | 0.1% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $500.4K | 1,000 | 0.1% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +13.9% | +14.8% | -1.0% | 100% |
| Q1 2026 | -5.4% | -4.6% | -0.8% | 100% |
| Q4 2025 | +0.2% | +2.4% | -2.2% | 100% |
| Q3 2025 | +3.6% | +7.8% | -4.2% | 100% |
| Q2 2025 | +15.9% | +10.5% | +5.4% | 100% |
| Q1 2025 | -1.1% | -4.6% | +3.5% | 100% |
| Q4 2024 | +5.1% | +2.1% | +3.0% | 100% |
| Q3 2024 | +8.8% | +5.4% | +3.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $952.8M | 30 |
| Q1 2026 | $858.0M | 30 |
| Q4 2025 | $912.4M | 29 |
| Q3 2025 | $917.3M | 30 |
| Q2 2025 | $864.8M | 31 |
| Q1 2025 | $800.0M | 28 |
| Q4 2024 | $774.2M | 28 |
| Q3 2024 | $731.2M | 27 |
| Q2 2024 | $668.4M | 27 |
| Q1 2024 | $658.7M | 29 |
| Q4 2023 | $399.3M | 25 |
| Q3 2023 | $399.3M | 25 |