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Night Owl Capital Management Portfolio holdings

AUM $953M
1-Year Est. Return 29.53%
This Fund
S&P 500
This Quarter Est. Return
+22.49%
1 Year Est. Return
+29.53%
3 Year Est. Return
+161.61%
5 Year Est. Return
+193.57%
10 Year Est. Return
+1,558.68%
AUM
$953M
AUM Growth
+$94.8M
Cap. Flow
-$45.5M
Cap. Flow %
-4.77%
Top 10 Hldgs %
64%
Holding
32
New
2
Increased
22
Reduced
4
Closed
2

Top Buys

Rank Stock Value
1
AMAT icon
Applied Materials
AMAT
+$27.5M
2
NTRA icon
Natera
NTRA
+$8.8M
3
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$8.24M
4
TWST icon
Twist Bioscience
TWST
+$2.98M
5
SGOV icon
iShares 0-3 Month Treasury Bond ETF
SGOV
+$1.7M

Top Sells

Rank Stock Value
1
GEV icon
GE Vernova
GEV
+$41.1M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$25.2M
3
NFLX icon
Netflix
NFLX
+$23.5M
4
SAP icon
SAP
SAP
+$10.3M
5
CEG icon
Constellation Energy
CEG
+$3.44M

Sector Composition

Rank Sector Weight
1 Technology 28.57%
2 Industrials 26.06%
3 Communication Services 15.94%
4 Financials 10.44%
5 Consumer Discretionary 7.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GOOG icon
1
Alphabet (Google) Class C
GOOG
$4.17T
$90.6M 9.51%
256,337
-70,413
-22% -$25.2M
TSM icon
2
TSMC
TSM
$2.34T
$77.9M 8.18%
163,108
+2,507
+2% +$1.02M
MSFT icon
3
Microsoft
MSFT
$3.83T
$65.4M 6.87%
175,443
+2,362
+1% +$956K
AMZN icon
4
Amazon
AMZN
$2.69T
$63.9M 6.71%
268,254
+3,607
+1% +$905K
AMAT icon
5
Applied Materials
AMAT
$385B
$63.7M 6.69%
88,107
+59,582
+209% +$27.5M
GE icon
6
GE Aerospace
GE
$339B
$59M 6.19%
157,921
+2,371
+2% +$742K
WWD icon
7
Woodward
WWD
$19.5B
$54.2M 5.69%
127,375
+2,147
+2% +$814K
UNP icon
8
Union Pacific
UNP
$163B
$51.5M 5.4%
189,178
+3,197
+2% +$839K
META icon
9
Meta Platforms (Facebook)
META
$1.91T
$46.8M 4.91%
83,116
+1,421
+2% +$869K
AON icon
10
Aon
AON
$59B
$36.8M 3.86%
110,978
+1,490
+1% +$481K
V icon
11
Visa
V
$690B
$33.3M 3.49%
96,957
+1,161
+1% +$373K
CRS icon
12
Carpenter Technology
CRS
$19.7B
$32.8M 3.45%
53,214
+797
+2% +$375K
BIL icon
13
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$47.9B
$31.7M 3.32%
345,464
+90,023
+35% +$8.24M
SAP icon
14
SAP
SAP
$243B
$29.1M 3.05%
188,848
-60,169
-24% -$10.3M
GEV icon
15
GE Vernova
GEV
$255B
$28.4M 2.98%
24,164
-40,282
-63% -$41.1M
MA icon
16
Mastercard
MA
$497B
$28.2M 2.96%
54,855
+652
+1% +$325K
LIN icon
17
Linde
LIN
$217B
$27.4M 2.87%
52,749
+783
+2% +$397K
AVGO icon
18
Broadcom
AVGO
$1.68T
$25.9M 2.71%
68,438
+1,037
+2% +$416K
HWM icon
19
Howmet Aerospace
HWM
$92.7B
$22.4M 2.36%
83,475
+1,249
+2% +$321K
GEHC icon
20
GE HealthCare
GEHC
$30.1B
$18.1M 1.9%
283,292
+4,734
+2% +$311K
SPOT icon
21
Spotify
SPOT
$105B
$14.5M 1.52%
31,592
+528
+2% +$252K
NTRA icon
22
Natera
NTRA
$59.5B
$11.2M 1.18%
+41,254
New +$8.8M
GWRE icon
23
Guidewire Software
GWRE
$11.9B
$10.2M 1.07%
82,825
+1,377
+2% +$184K
SGOV icon
24
iShares 0-3 Month Treasury Bond ETF
SGOV
$111B
$7.85M 0.82%
77,949
+16,923
+28% +$1.7M
MELI icon
25
Mercado Libre
MELI
$88.9B
$6.88M 0.72%
4,052
+71
+2% +$121K
1
2

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Night Owl Capital Management's Q2 2026 Portfolio in Review

As of Q2 2026, Night Owl Capital Management held 32 positions worth $953M, up 11% from $858M the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Night Owl Capital Management withdrew a net $45.5M in Q2 2026, closing 2 positions and reducing 4 holdings. Its most notable exit was Netflix, an estimated $23.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 24% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Night Owl Capital Management opened a new position in Natera worth $11.2M.

  • Night Owl Capital Management's largest Q2 2026 buy was Natera: 41,254 shares worth $11.2M.
  • Night Owl Capital Management added most to Applied Materials in Q2 2026, an estimated $27.5M increase.
  • Night Owl Capital Management's biggest Q2 2026 reduction was GE Vernova, cutting an estimated $41.1M.
  • Night Owl Capital Management fully exited Netflix in Q2 2026, selling an estimated $23.5M.
  • Night Owl Capital Management's ten largest holdings make up 64% of its $953M portfolio in Q2 2026.
  • Night Owl Capital Management opened 2 new positions and closed 2 in Q2 2026.
  • Night Owl Capital Management's portfolio value rose 11% quarter-over-quarter to $953M.

Based on Night Owl Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.