Night Owl Capital Management portfolio
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 14, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Night Owl Capital Management reported a $953M portfolio of 29 companies (30 positions, counting each share class separately) to the SEC as of the end of Q2 2026. Its largest positions are GOOG, TSM, MSFT. During the quarter it opened Natera and exited Netflix.
Sections with a free account
What changed this quarter
30 positions with a change (2 new, 22 added to, 4 trimmed, 2 sold). 7 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- GE Vernova−63%fewer sharesReduced6.6% → 3.0%
- Applied Materials+209%more sharesIncreased1.1% → 6.7%
- Alphabet−2.7 ppof portfolioReduced11.0% → 9.5%
- Netflix−2.5 ppof portfolioSold out2.7% → —
- Natera+1.2 ppof portfolioNew— → 1.2%
- SAP−24%fewer sharesReduced5.0% → 3.1%
- State Street SPDR BB 1-3m T-bill ETF+35%more sharesIncreased2.7% → 3.3%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- AlphabetGOOG9.5%
- Taiwan Semiconductor ManufacturingTSM8.2%
- MicrosoftMSFT6.9%
- Amazon.comAMZN6.7%
- Applied MaterialsAMAT6.7%
- GE AerospaceGE6.2%
- WoodwardWWD5.7%
- Union PacificUNP5.4%
- Meta PlatformsMETA4.9%
- AonAON3.9%
- VisaV3.5%
- Carpenter TechnologyCRS3.4%
- State Street SPDR BB 1-3m T-bill ETFBIL3.3%
- SAPSAP3.1%
- GE VernovaGEV3.0%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Information Technology 29%
- ● Industrials 23%
- ● Communication Services 16%
- ● Financials 10%
- ● Consumer Discretionary 7%
- ● Materials 6%
- ● No sector 4%
- ● Health Care 4%
- ● Utilities 1%
How its portfolio changed (8 quarters)
Q2 2026: 30
Q2 2026: 64%
Q2 2026: 9.9%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Mar 31, 2026 (medium confidence).
The data, as reported: NIGHT OWL CAPITAL MANAGEMENT, LLC (CRD 106030): 5.D assets by client type: high net worth 66%, pooled vehicles 20%, corporations 7% (of $1.1 bn); 5.F 340 accounts, 0% non-discretionary; 5.D 219 clients, 196 individuals; no financial planning, adviser selection or non-discretionary assets: discretionary accounts
The type comes from a rule applied to that data. If it looks wrong, tell us.
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