NO
Night Owl Capital Management, LLC 13F Holdings (Q2 2026) — Stock Portfolio & Buys
Night Owl Capital Management, LLCCIK: 0001410833
Momentum followerQuality / disciplined sizingDiversified strategy
Total reported value
$952.8M
Reporting period: 2026-06-30 · Number of holdings: 30
Night Owl Capital Management, LLC disclosed 30 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $952.8M and a quarterly turnover rate of 27.9%.
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Personality snowflake
- Concentration
- 21.07
- Portfolio Stability
- 27.85
- Momentum
- 100
- Sector conviction
- 63.82
- Diversification
- 60
- Sizing Uniformity
- 92.25
Night Owl Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.053 — mathematically equivalent to about 19 equally-sized positions, close to its 30 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.77), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.5 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd AMAT
+208.9% $54.0M
Trim GEV
-62.5% -$27.9M
Sold out NFLX
Trim SAP
-24.2% -$13.5M
Add TSM
+1.6% $23.6M
Trim GOOG
-21.5% -$3.2M
Holdings Map
New buyAddUnchangedTrim
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Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 9.51% | -1.41% | -21.55% | |
| 2 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 8.18% | +1.85% | +1.56% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 6.87% | -0.60% | +1.36% | |
| 4 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 6.71% | +0.29% | +1.36% | |
| 5 | AMAT | Applied Materials Inc | Stock-Tech | 6.69% | +5.55% | +208.88% | |
| 6 | GE | General Electric | Stock-Industrials | 6.19% | +1.05% | +1.52% | |
| 7 | WWD | Woodward Inc | Stock-Industrials | 5.69% | +0.47% | +1.71% | |
| 8 | UNP | Union Pacific CORP | Stock-Industrials | 5.40% | +0.14% | +1.72% | |
| 9 | META | Meta Platforms Inc-class A | Stock-Comm Services | 4.91% | -0.54% | +1.74% | |
| 10 | AON | Aon plc | Stock-Financials | 3.86% | -0.26% | +1.36% | |
| 11 | V | Visa Inc-class A Shares | Stock-Financials | 3.49% | +0.12% | +1.21% | |
| 12 | CRS | Carpenter Technology | Stock-Industrials | 3.45% | +1.03% | +1.52% | |
| 13 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 3.32% | +0.59% | +35.24% | |
| 14 | SAP | Sap Se-sponsored Adr | Stock-Tech | 3.05% | -1.92% | -24.16% | |
| 15 | GEV | GE Vernova Inc | Stock-Industrials | 2.98% | -3.58% | -62.51% | |
| 16 | MA | Mastercard Inc - A | Stock-Financials | 2.96% | -0.20% | +1.20% | |
| 17 | LIN | Linde plc | Stock-Materials | 2.87% | -0.13% | +1.51% | |
| 18 | AVGO | Broadcom Inc | Stock-Tech | 2.71% | +0.28% | +1.54% | |
| 19 | HWM | Howmet Aerospace Inc | Stock-Industrials | 2.36% | +0.15% | +1.52% | |
| 20 | GEHC | GE Healthcare Technology | Stock-Healthcare | 1.90% | -0.41% | +1.70% | |
| 21 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 1.52% | -0.24% | +1.70% | |
| 22 | NTRA | Natera Inc | Stock-Healthcare | 1.18% | +1.18% | NEW | |
| 23 | GWRE | Guidewire Software Inc | Stock-Tech | 1.07% | -0.35% | +1.69% | |
| 24 | SGOV | Ishares 0-3 Month Treasury B | ETF-Gov Bonds | 0.82% | +0.10% | +27.73% | |
| 25 | MELI | Mercadolibre Inc | Stock-Consumer Disc | 0.72% | -0.08% | +1.78% | |
| 26 | CEG | Constellation Energy | Stock-Utilities | 0.63% | -0.56% | -33.53% | |
| 27 | TWST | Twist Bioscience CORP | Stock-Other | 0.49% | +0.49% | NEW | |
| 28 | CSGP | Costar Group Inc | Stock-Real Estate | 0.33% | -0.18% | +1.49% | |
| 29 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 0.08% | — | — | |
| 30 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.05% | -0.01% | — |
Portfolio Performance
Performance for Q3 2026
+3.3%
Performance Last 4 Quarters
+13.4%
- Stdev
- +15.5%
- Beta
- +1.03
- Alpha
- +0.1%
- Max Drawdown
- -10.5%
- Annualized Perf
- +21.5%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.86
- Stutzer
- +0.4
- Treynor
- +0.2
- Sterling
- +1.24
- Calmar
- +2.04
- Information Ratio
- +0.1
- Tracking Error
- +7.9%
- Stdev Down
- +7.3%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +38.7%
- Worst 12 Months
- +7.9%
- Efficiency Ratio
- +0.63
- Sharpe
- +1.34
- Stdev Sectors
- +10.6%
- Skewness
- +0.33
- Kurtosis
- -0.01
- Upside Potential
- +4.32
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 30 | $952.8M | 28 | ||
| 2026 Q1 | 30 | $858.0M | 15 | ||
| 2025 Q4 | 29 | $912.4M | 21 | ||
| 2025 Q3 | 30 | $917.3M | 46 | ||
| 2025 Q2 | 31 | $864.8M | 0 | ||
| 2025 Q1 | 28 | $800.0M | 100 | ||
| 2024 Q4 | 28 | $774.2M | 0 | ||
| 2024 Q3 | 27 | $731.2M | 0 | ||
| 2024 Q2 | 27 | $668.4M | 0 | ||
| 2024 Q1 | 29 | $658.7M | 0 | ||
| 2023 Q4 | 25 | $399.3M | 0 | ||
| 2023 Q3 | 25 | $399.3M | 0 | ||
| 2023 Q2 | 24 | $386.7M | — | ||
| 2023 Q1 | 19 | $276.7M | — | ||
| 2022 Q4 | 17 | $215.0M | — | ||
| 2022 Q3 | 16 | $240.2M | 0 | ||
| 2022 Q2 | 19 | $260.5M | 0 | ||
| 2022 Q1 | 19 | $352.1M | 0 | ||
| 2021 Q4 | 21 | $491.9M | 0 | ||
| 2021 Q3 | 26 | $569.8M | 0 | ||
| 2021 Q2 | 25 | $506.5M | 98 | ||
| 2021 Q1 | 27 | $491.4M | 23 | ||
| 2020 Q4 | 30 | $519.5M | 16 | ||
| 2020 Q3 | 31 | $480.4M | 15 | ||
| 2020 Q2 | 28 | $419.5M | 34 | ||
| 2020 Q1 | 27 | $299.3M | 41 | ||
| 2019 Q4 | 27 | $347.7M | 12 | ||
| 2019 Q3 | 28 | $314.8M | 18 | ||
| 2019 Q2 | 29 | $326.8M | 23 | ||
| 2019 Q1 | 30 | $279.4M | 27 | ||
| 2018 Q4 | 30 | $233.6M | 29 | ||
| 2018 Q3 | 29 | $282.1M | 17 | ||
| 2018 Q2 | 29 | $273.2M | 19 | ||
| 2018 Q1 | 27 | $239.0M | 32 | ||
| 2017 Q4 | 25 | $214.6M | 16 | ||
| 2017 Q3 | 25 | $206.9M | 12 | ||
| 2017 Q2 | 23 | $191.2M | 20 | ||
| 2017 Q1 | 22 | $189.9M | 11 | ||
| 2016 Q4 | 20 | $170.1M | 11 | ||
| 2016 Q3 | 19 | $170.0M | 20 | ||
| 2016 Q2 | 16 | $140.1M | 15 | ||
| 2016 Q1 | 15 | $139.1M | 27 | ||
| 2015 Q4 | 19 | $157.5M | 27 | ||
| 2015 Q3 | 20 | $161.7M | 40 | ||
| 2015 Q2 | 25 | $194.2M | 6 | ||
| 2015 Q1 | 25 | $191.4M | 32 | ||
| 2014 Q4 | 26 | $203.2M | 33 | ||
| 2014 Q3 | 27 | $223.2M | 25 | ||
| 2014 Q2 | 22 | $230.7M | 29 | ||
| 2014 Q1 | 20 | $225.7M | 31 | ||
| 2013 Q4 | 23 | $227.4M | 20 | ||
| 2013 Q3 | 24 | $205.3M | 27 | ||
| 2013 Q2 | 25 | $181.7M | 0 |
Holding changes this quarter
Night Owl Capital Management, LLC's most significant position changes for 2026-06-30: Sold out: Netflix Inc (NFLX); New buy: Natera Inc (NTRA); New buy: Twist Bioscience CORP (TWST); Sold out: Alphabet Inc-cl A (GOOGL); Add: Applied Materials Inc (AMAT) — shares +208.88%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AMAT | Applied Materials Inc | +5.6% | +208.88% | Add |
| 2 | TSM | Taiwan Semiconductor-sp Adr | +1.9% | +1.56% | Add |
| 3 | NTRA | Natera Inc | +1.2% | NEW | New buy |
| 4 | GE | General Electric | +1.1% | +1.52% | Add |
| 5 | CRS | Carpenter Technology | +1% | +1.52% | Add |
| 6 | BIL | Ss Spdr Bb 1-3m T-bill ETF | +0.6% | +35.24% | Add |
| 7 | TWST | Twist Bioscience CORP | +0.5% | NEW | New buy |
| 8 | WWD | Woodward Inc | +0.5% | +1.71% | Add |
| 9 | AMZN | Amazon.com Inc | +0.3% | +1.36% | Add |
| 10 | AVGO | Broadcom Inc | +0.3% | +1.54% | Add |
| 11 | HWM | Howmet Aerospace Inc | +0.2% | +1.52% | Add |
| 12 | UNP | Union Pacific CORP | +0.1% | +1.72% | Add |
| 13 | V | Visa Inc-class A Shares | +0.1% | +1.21% | Add |
| 14 | SGOV | Ishares 0-3 Month Treasury B | +0.1% | +27.73% | Add |
| 15 | BRK-A | Berkshire Hathaway Inc-cl A | — | — | Unchanged |
| 16 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | — | Unchanged |
| 17 | MELI | Mercadolibre Inc | -0.1% | +1.78% | Add |
| 18 | GOOGL | Alphabet Inc-cl A | -0.1% | EXIT | Sold out |
| 19 | LIN | Linde plc | -0.1% | +1.51% | Add |
| 20 | CSGP | Costar Group Inc | -0.2% | +1.49% | Add |
| 21 | MA | Mastercard Inc - A | -0.2% | +1.20% | Add |
| 22 | SPOT | Spotify Technology S.A. | -0.2% | +1.70% | Add |
| 23 | AON | Aon plc | -0.3% | +1.36% | Add |
| 24 | GWRE | Guidewire Software Inc | -0.4% | +1.69% | Add |
| 25 | GEHC | GE Healthcare Technology | -0.4% | +1.70% | Add |
| 26 | META | Meta Platforms Inc-class A | -0.5% | +1.74% | Add |
| 27 | CEG | Constellation Energy | -0.6% | -33.53% | Trim |
| 28 | MSFT | Microsoft CORP | -0.6% | +1.36% | Add |
| 29 | GOOG | Alphabet Inc-cl C | -1.4% | -21.55% | Trim |
| 30 | SAP | Sap Se-sponsored Adr | -1.9% | -24.16% | Trim |
| 31 | NFLX | Netflix Inc | -2.7% | EXIT | Sold out |
| 32 | GEV | GE Vernova Inc | -3.6% | -62.51% | Trim |
Filing History
FAQ
What is Night Owl Capital Management, LLC and what type of investor is it?
Night Owl Capital Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $952.8M, spread across 30 disclosed positions.
What are Night Owl Capital Management, LLC's largest equity positions?
Based on the latest 13F filing, Night Owl Capital Management, LLC's top holdings by market value are:
1. Alphabet Inc-cl C (GOOG) — $90.6M (9.5%)
2. Taiwan Semiconductor-sp Adr (TSM) — $77.9M (8.2%)
3. Microsoft CORP (MSFT) — $65.4M (6.9%)
4. Amazon.com Inc (AMZN) — $63.9M (6.7%)
5. Applied Materials Inc (AMAT) — $63.7M (6.7%)
What changes did Night Owl Capital Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Night Owl Capital Management, LLC made 30 notable position adjustments: 2 new positions were initiated, 22 existing holdings were added to, 4 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Netflix Inc (NFLX); New buy: Natera Inc (NTRA); New buy: Twist Bioscience CORP (TWST); Sold out: Alphabet Inc-cl A (GOOGL); Add: Applied Materials Inc (AMAT) — shares +208.88%
What sectors does Night Owl Capital Management, LLC focus on?
Night Owl Capital Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 30.0%
• Industrials: 27.4%
• Communication Services: 16.7%
• Financials: 10.8%
• Consumer Discretionary: 7.8%
• Health Care: 3.2%
Investment Profile
Night Owl Capital Management, LLC returned an annualized 21.5% over the trailing 36 months — outperforming the S&P 500 by 0.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.03 (roughly in line with the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 30.0% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 28 over the past 4 quarters — a shift toward more active trading.
It has added to its TSM position over the past two quarters (+$29.4M, now $77.9M), while trimming SAP over the same stretch (-$31.0M, still holding $29.1M).
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Developer Access
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