13F Insight
DOSSIER · 13F-HR · Q2 2026

Night Owl Capital Management, LLC

$953M in tracked AUM across 30 positions as of Q2 2026.

NO
CIK 0001410833 · last filed Jun 30, 2026
Total AUM
$953M
as of Q2 2026
Holdings
30
—
positions
Whale Score
66
66
tracked
Activity
—
no data
changes this Q
AI Analysis · Q2 2026
Comprehensive Analysis of SEC 13F Filing: Night Owl Capital Management, LLC
1. Portfolio Overview

Night Owl Capital Management executed a significant portfolio restructuring during the quarter ending September 30, 2025. The firm reduced its total portfolio value by 40.0%, dropping from $864.80 million to $518.77 million. This drastic reduction was not solely due to market depreciation but was driven primarily by active capital reallocation, evidenced by the exit from 13 positions totaling...

The portfolio remains highly concentrated, holding only 18 securities. This suggests a "high conviction" investment strategy where the manager prefers meaningful exposure to a select number of names rather than broad diversification. The presence of a T-Bill ETF (BIL) representing 3.30% of the portfolio indicates a tactical allocation to cash equivalents, likely to maintain liquidity or manage volatility amid the restructuring.

2. Key Holdings
Analysis generated by 13F Insight from SEC Form 13F filing data · Q2 2026. Methodology

Quarter at a glance — Q2 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q2 2026.

#HoldingValueSharesWeight
01
GOOG
ALPHABET INC CAP STK CL C
$91M256K9.5%02
TSM
TAIWAN SEMICONDUCTOR MFG CO SP
$78M163K8.2%03
MSFT
MICROSOFT CORP COM
$65M175K6.9%04
AMZN
AMAZON COM INC COM
$64M268K6.7%05
AMAT
APPLIED MATERIALS INC
$64M88K6.7%06
GE
GE AEROSPACE
$59M158K6.2%07
WWD
WOODWARD
$54M127K5.7%08
UNP
UNION PACIFIC CORP.
$51M189K5.4%09
META
META PLATFORMS INC CL A
$47M83K4.9%10
G0403H108
AON PLC REGISTERED SHS CL A
$37M111K3.9%

Filing history

2026Q2Jun 30
$953M▲ 4.4%
30 positionsView →2025Q4Dec 31
$912M▲ 75.9%
29 positionsView →2025Q3Sep 30
$519M▼ 40.0%
18 positionsLocked2025Q2Jun 30
$865M▲ 8.1%
31 positionsLocked2025Q1Mar 31
$800M▲ 3.3%
28 positionsLocked2024Q4Dec 31
$774M▲ 5.9%
28 positionsLocked2024Q3Sep 30
$731M▲ 9.4%
27 positionsLocked2024Q2Jun 30
$668M▲ 1.5%
27 positionsLocked2024Q1Mar 31
$659M▲ 31.7%
29 positionsLocked2023Q4Dec 31
$500M▲ 25.2%
26 positionsLocked2023Q3Sep 30
$399M▲ 3.3%
25 positionsLocked2023Q2Jun 30
$387M▲ 39.8%
24 positionsLocked
Showing 12 of 67