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Night Owl Capital Management Portfolio holdings

AUM $858M
1-Year Est. Return 31.41%
This Fund
S&P 500
This Quarter Est. Return
+5.84%
1 Year Est. Return
+31.41%
3 Year Est. Return
+150.18%
5 Year Est. Return
+177.63%
10 Year Est. Return
+1,247.26%
AUM
$917M
AUM Growth
+$52.5M
Cap. Flow
+$12.4M
Cap. Flow %
1.35%
Top 10 Hldgs %
60.57%
Holding
31
New
–
Increased
24
Reduced
3
Closed
1

Top Buys

Rank Stock Value
1
UNP icon
Union Pacific
UNP
+$22.7M
2
SPOT icon
Spotify
SPOT
+$12.2M
3
WWD icon
Woodward
WWD
+$10.8M
4
META icon
Meta Platforms (Facebook)
META
+$8.14M
5
MSFT icon
Microsoft
MSFT
+$610K

Top Sells

Rank Stock Value
1
FISV
Fiserv Inc
FISV
+$26.8M
2
AMZN icon
Amazon
AMZN
+$18.1M
3
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$1.77M
4
SGOV icon
iShares 0-3 Month Treasury Bond ETF
SGOV
+$432K

Sector Composition

Rank Sector Weight
1 Technology 29.39%
2 Industrials 22.13%
3 Communication Services 19.22%
4 Financials 11.08%
5 Consumer Discretionary 7.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MELI icon
26
Mercado Libre
MELI
$92.3B
$9.08M 0.99%
3,887
+39
+1% +$93.6K
SGOV icon
27
iShares 0-3 Month Treasury Bond ETF
SGOV
$101B
$6.04M 0.66%
59,941
-4,300
-7% -$432K
GOOGL icon
28
Alphabet (Google) Class A
GOOGL
$4.33T
$827K 0.09%
3,400
– –
BRK.A icon
29
Berkshire Hathaway Class A
BRK.A
$1.12T
$754K 0.08%
1
– –
BRK.B icon
30
Berkshire Hathaway Class B
BRK.B
$1.13T
$503K 0.05%
1,000
– –
FISV
31
Fiserv Inc
FISV
$27.9B
– –
-155,630
Closed -$26.8M
1
2

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Night Owl Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Night Owl Capital Management held 31 positions worth $917M, up 6.1% from $865M the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Trading was light in Q3 2025: portfolio turnover was 3.2%. Night Owl Capital Management opened no new positions and exited 1, leaving the 31-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 33% a quarter earlier, followed by Industrials and Communication Services.

  • Night Owl Capital Management added most to Union Pacific in Q3 2025, an estimated $22.7M increase.
  • Night Owl Capital Management's biggest Q3 2025 reduction was Amazon, cutting an estimated $18.1M.
  • Night Owl Capital Management fully exited Fiserv Inc in Q3 2025, selling an estimated $26.8M.
  • Night Owl Capital Management's ten largest holdings make up 61% of its $917M portfolio in Q3 2025.
  • Night Owl Capital Management opened 0 new positions and closed 1 in Q3 2025.
  • Night Owl Capital Management's portfolio value rose 6.1% quarter-over-quarter to $917M.

Based on Night Owl Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.