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Night Owl Capital Management, LLC

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13F filer, CIK 1410833, GREENWICH, CT

Night Owl Capital Management, LLC reported $864,798,793 across 31 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 59.82% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001410833-25-000006

Period
2025-06-30
Reported value
$865M
Holdings
31
Top 10 weight
59.82%
New
4
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
WWDnew+78,871$19.3M
GWREnew+78,935$18.6M
BILadded+120,256$11M
MELInew+3,848$10.1M
SPOTnew+12,934$9.92M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
UNHexited-83,996-$44M
FISVreduced-125,476-$21.6M
VSTreduced-100,430-$19.5M
AONreduced-52,468-$18.7M
GEVreduced-33,938-$18M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001410833-25-000006, largest first. % of portfolio is the value over $864,798,793, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 302,737 shares; 2024Q4: 310,268 shares; 2025Q1: 318,336 shares; 2025Q2: 338,588 shares 338,588$74.3M8.59%+20,252Timeline
SAPSAP SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 221,023 shares; 2024Q4: 227,670 shares; 2025Q1: 235,848 shares; 2025Q2: 242,973 shares 242,973$73.9M8.54%+7,125Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 123,346 shares; 2024Q4: 126,722 shares; 2025Q1: 131,323 shares; 2025Q2: 147,011 shares 147,011$73.1M8.46%+15,688Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 336,424 shares; 2024Q4: 345,817 shares; 2025Q1: 357,293 shares; 2025Q2: 316,696 shares 316,696$56.2M6.5%-40,597Timeline
GEVGE VERNOVA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 78,630 shares; 2024Q4: 117,211 shares; 2025Q1: 122,181 shares; 2025Q2: 88,243 shares 88,243$46.7M5.4%-33,938Timeline
UBERUBER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 486,904 shares; 2024Q4: 409,339 shares; 2025Q1: 425,347 shares; 2025Q2: 438,323 shares 438,323$40.9M4.73%+12,976Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,954 shares; 2024Q4: 50,606 shares; 2025Q1: 52,601 shares; 2025Q2: 54,282 shares 54,282$40.1M4.63%+1,681Timeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 136,732 shares; 2024Q4: 141,303 shares; 2025Q1: 147,204 shares; 2025Q2: 151,639 shares 151,639$39M4.51%+4,435Timeline
AONAON PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 145,750 shares; 2024Q4: 152,650 shares; 2025Q1: 158,553 shares; 2025Q2: 106,085 shares 106,085$37.8M4.38%-52,468Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 205,595 shares; 2024Q4: 145,088 shares; 2025Q1: 151,056 shares; 2025Q2: 155,804 shares 155,804$35.3M4.08%+4,748Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 83,753 shares; 2024Q4: 86,765 shares; 2025Q1: 90,240 shares; 2025Q2: 93,028 shares 93,028$33M3.82%+2,788Timeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 33,396 shares; 2024Q4: 34,468 shares; 2025Q1: 35,646 shares; 2025Q2: 23,664 shares 23,664$31.7M3.66%-11,982Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 47,338 shares; 2024Q4: 49,100 shares; 2025Q1: 51,076 shares; 2025Q2: 52,694 shares 52,694$29.6M3.42%+1,618Timeline
FISVFISERV INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 261,470 shares; 2024Q4: 270,029 shares; 2025Q1: 281,106 shares; 2025Q2: 155,630 shares 155,630$26.8M3.1%-125,476Timeline
LINLINDE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,036 shares; 2024Q4: 47,721 shares; 2025Q1: 49,195 shares; 2025Q2: 50,664 shares 50,664$23.8M2.75%+1,469Timeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 199,673 shares; 2024Q4: 206,695 shares; 2025Q1: 215,467 shares; 2025Q2: 115,037 shares 115,037$22.3M2.58%-100,430Timeline
CEGCONSTELLATION ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 186,199 shares; 2024Q4: 156,937 shares; 2025Q1: 118,209 shares; 2025Q2: 65,134 shares 65,134$21M2.43%-53,075Timeline
WWDWOODWARD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 78,871 shares 78,871$19.3M2.24%newTimeline
BILSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,284 shares; 2024Q4: 59,373 shares; 2025Q1: 85,539 shares; 2025Q2: 205,795 shares 205,795$18.9M2.18%+120,256Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 127,915 shares; 2024Q4: 132,386 shares; 2025Q1: 137,364 shares; 2025Q2: 80,994 shares 80,994$18.6M2.15%-56,370Timeline
GWREGUIDEWIRE SOFTWARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 78,935 shares 78,935$18.6M2.15%newTimeline
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 118,245 shares; 2024Q4: 60,591 shares; 2025Q1: 63,527 shares; 2025Q2: 65,472 shares 65,472$18M2.09%+1,945Timeline
HWMHOWMET AEROSPACE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 74,011 shares; 2025Q1: 77,366 shares; 2025Q2: 79,818 shares 79,818$14.9M1.72%+2,452Timeline
CRSCARPENTER TECHNOLOGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 47,076 shares; 2025Q1: 49,332 shares; 2025Q2: 50,886 shares 50,886$14.1M1.63%+1,554Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,848 shares 3,848$10.1M1.16%newTimeline
SPOTSPOTIFY TECHNOLOGY S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 12,934 shares 12,934$9.92M1.15%newTimeline
CSGPCOSTAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 98,902 shares; 2024Q4: 101,649 shares; 2025Q1: 103,841 shares; 2025Q2: 106,893 shares 106,893$8.59M0.99%+3,052Timeline
SGOVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,766 shares; 2024Q4: 24,755 shares; 2025Q1: 35,411 shares; 2025Q2: 64,241 shares 64,241$6.47M0.75%+28,830Timeline
BRK-ABERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1 shares; 2024Q4: 1 shares; 2025Q1: 1 shares; 2025Q2: 1 shares 1$729K0.08%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,400 shares; 2024Q4: 3,400 shares; 2025Q1: 3,400 shares; 2025Q2: 3,400 shares 3,400$599K0.07%0Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000 shares; 2024Q4: 1,000 shares; 2025Q1: 1,000 shares; 2025Q2: 1,000 shares 1,000$486K0.06%0Timeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
UNHUNITEDHEALTH GROUP INC83,996$44Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001410833-25-000006 base2025-08-14acceptance time not in the bulk data set