Night Owl Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Night Owl Capital Management, LLC reported 30 stock positions worth $917.3 million. Its top holding was Alphabet Class C (GOOG) at 8.5% of the portfolio, followed by Microsoft (MSFT, 8.4%) and Sap SE-Sponsored ADR (SAP, 7.1%). Compared with Q2 2025, it sold out of 1, added to 24 and reduced 3. The biggest buy was Union Pacific (UNP, shares +124%) and the biggest sale an exit from Fiserv (FISV).
- Most Recent 13F
- Q2 2026
- Location
- GREENWICH, CT
- CIK
- 0001410833
- Portfolio Value
- $917.3M (Q3 2025)
- SEC Filing
- 0001410833-25-000008 ↗ filed Nov 14, 2025
Holdings Value
Holdings 30 stocks · $917.3M
| GOOG Alphabet Inc. Class C | 8.48% | 319,270 | $77.8M | Add +0.8% |
| MSFT Microsoft Corp. | 8.37% | 148,206 | $76.8M | Add +0.8% |
| SAP Sap SE-Sponsored ADR | 7.14% | 245,058 | $65.5M | Add +0.9% |
| AMZN Amazon.com Inc. | 6.19% | 258,499 | $56.8M | Reduce -23.6% |
| GEV GE Vernova Inc. | 5.97% | 88,990 | $54.7M | Add +0.8% |
| META Meta Platforms Inc. Class A | 5.22% | 65,217 | $47.9M | Add +20.1% |
| GE General Electric filed as GE AEROSPACE | 5.01% | 152,871 | $46.0M | Add +0.8% |
| TSM Taiwan Semiconductor-SP ADR | 4.79% | 157,311 | $43.9M | Add +1.0% |
| UBER Uber Technologies Inc. | 4.72% | 441,903 | $43.3M | Add +0.8% |
| UNP Union Pacific Corp. | 4.68% | 181,793 | $43.0M | Add +124.5% |
| AON Aon PLC Class A | 4.16% | 107,023 | $38.2M | Add +0.9% |
| V Visa Inc. Class A | 3.49% | 93,860 | $32.0M | Add +0.9% |
| WWD Woodward Inc. | 3.37% | 122,367 | $30.9M | Add +55.1% |
| MA Mastercard Inc. Class A | 3.29% | 53,118 | $30.2M | Add +0.8% |
| NFLX Netflix Inc. | 3.12% | 23,888 | $28.6M | Add +0.9% |
| LIN Linde PLC | 2.65% | 51,088 | $24.3M | Add +0.8% |
| VST Vistra Corp. | 2.48% | 116,161 | $22.8M | Add +1.0% |
| AVGO Broadcom Inc. | 2.38% | 66,065 | $21.8M | Add +0.9% |
| CEG Constellation Energy | 2.36% | 65,775 | $21.6M | Add +1.0% |
| SPOT Spotify Technology SA | 2.31% | 30,352 | $21.2M | Add +134.7% |
| GWRE Guidewire Software Inc. | 1.99% | 79,596 | $18.3M | Add +0.8% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.86% | 186,441 | $17.1M | Reduce -9.4% |
| HWM Howmet Aerospace Inc. | 1.72% | 80,499 | $15.8M | Add +0.8% |
| CRS Carpenter Technology | 1.37% | 51,321 | $12.6M | Add +0.8% |
| CSGP Costar Group Inc. | 0.99% | 107,711 | $9.1M | Add +0.8% |
| MELI MercadoLibre Inc. | 0.99% | 3,887 | $9.1M | Add +1.0% |
| SGOV iShares 0-3 Month Treasury B | 0.66% | 59,941 | $6.0M | Reduce -6.7% |
| GOOGL Alphabet Inc. Class A | 0.09% | 3,400 | $827K | No change |
| BRK.A Berkshire Hathaway Inc. Class A | 0.08% | 1 | $754K | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.05% | 1,000 | $503K | No change |
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
| UNP Union Pacific Corp. | Add +124.5% | 4.68% | +2.53 |
| GOOG Alphabet Inc. Class C | Add +0.8% | 8.48% | +1.98 |
| SPOT Spotify Technology SA | Add +134.7% | 2.31% | +1.16 |
| WWD Woodward Inc. | Add +55.1% | 3.37% | +1.14 |
| TSM Taiwan Semiconductor-SP ADR | Add +1.0% | 4.79% | +0.71 |
| META Meta Platforms Inc. Class A | Add +20.1% | 5.22% | +0.59 |
| GEV GE Vernova Inc. | Add +0.8% | 5.97% | +0.57 |
| GE General Electric | Add +0.8% | 5.01% | +0.50 |
| AVGO Broadcom Inc. | Add +0.9% | 2.38% | +0.29 |
| HWM Howmet Aerospace Inc. | Add +0.8% | 1.72% | +0.00 |
| CSGP Costar Group Inc. | Add +0.8% | 0.99% | −0.00 |
| UBER Uber Technologies Inc. | Add +0.8% | 4.72% | −0.01 |
| CEG Constellation Energy | Add +1.0% | 2.36% | −0.07 |
| MSFT Microsoft Corp. | Add +0.8% | 8.37% | −0.09 |
| VST Vistra Corp. | Add +1.0% | 2.48% | −0.10 |
| LIN Linde PLC | Add +0.8% | 2.65% | −0.10 |
| MA Mastercard Inc. Class A | Add +0.8% | 3.29% | −0.13 |
| GWRE Guidewire Software Inc. | Add +0.8% | 1.99% | −0.15 |
| MELI MercadoLibre Inc. | Add +1.0% | 0.99% | −0.17 |
| AON Aon PLC Class A | Add +0.9% | 4.16% | −0.22 |
| CRS Carpenter Technology | Add +0.8% | 1.37% | −0.25 |
| V Visa Inc. Class A | Add +0.9% | 3.49% | −0.33 |
| NFLX Netflix Inc. | Add +0.9% | 3.12% | −0.54 |
| SAP Sap SE-Sponsored ADR | Add +0.9% | 7.14% | −1.41 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 30 | $952.8M | GOOG, TSM, MSFT, AMZN, AMAT |
| Q1 2026 | 30 | $858.0M | GOOG, MSFT, GEV, AMZN, TSM |
| Q4 2025 | 29 | $912.4M | GOOG, MSFT, AMZN, SAP, GEV |
| Q3 2025 | 30 | $917.3M | GOOG, MSFT, SAP, AMZN, GEV |
| Q2 2025 | 31 | $864.8M | AMZN, SAP, MSFT, GOOG, GEV |
| Q1 2025 | 28 | $800.0M | SAP, AON, FISV, AMZN, GOOG |
| Q4 2024 | 28 | $774.2M | AMZN, GOOG, SAP, FISV, AON |
| Q3 2024 | 27 | $731.2M | AMZN, GOOG, MSFT, SAP, AON |
| Q2 2024 | 27 | $668.4M | GOOG, AMZN, MSFT, SAP, AON |
| Q1 2024 | 29 | $658.7M | AMZN, MSFT, GOOG, AON, SAP |