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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 $917,284,076 across 30 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 60.57% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001410833-25-000008

Period
2025-09-30
Reported value
$917M
Holdings
30
Top 10 weight
60.57%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
UNPadded+100,799$23.8M
SPOTadded+17,418$12.2M
WWDadded+43,496$11M
METAadded+10,935$8.03M
GOOGadded+2,574$627K

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
FISVexited-155,630-$26.8M
AMZNreduced-80,089-$17.6M
BILreduced-19,354-$1.78M
SGOVreduced-4,300-$433K

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, Q3 2025

Share positions as resolved from 13F-HR 0001410833-25-000008, largest first. % of portfolio is the value over $917,284,076, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 336,424 shares; 2024Q4: 345,817 shares; 2025Q1: 357,293 shares; 2025Q2: 316,696 shares; 2025Q3: 319,270 shares 319,270$77.8M8.48%+2,574Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 123,346 shares; 2024Q4: 126,722 shares; 2025Q1: 131,323 shares; 2025Q2: 147,011 shares; 2025Q3: 148,206 shares 148,206$76.8M8.37%+1,195Timeline
SAPSAP SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 221,023 shares; 2024Q4: 227,670 shares; 2025Q1: 235,848 shares; 2025Q2: 242,973 shares; 2025Q3: 245,058 shares 245,058$65.5M7.14%+2,085Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 302,737 shares; 2024Q4: 310,268 shares; 2025Q1: 318,336 shares; 2025Q2: 338,588 shares; 2025Q3: 258,499 shares 258,499$56.8M6.19%-80,089Timeline
GEVGE VERNOVA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 78,630 shares; 2024Q4: 117,211 shares; 2025Q1: 122,181 shares; 2025Q2: 88,243 shares; 2025Q3: 88,990 shares 88,990$54.7M5.97%+747Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,954 shares; 2024Q4: 50,606 shares; 2025Q1: 52,601 shares; 2025Q2: 54,282 shares; 2025Q3: 65,217 shares 65,217$47.9M5.22%+10,935Timeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 136,732 shares; 2024Q4: 141,303 shares; 2025Q1: 147,204 shares; 2025Q2: 151,639 shares; 2025Q3: 152,871 shares 152,871$46M5.01%+1,232Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 205,595 shares; 2024Q4: 145,088 shares; 2025Q1: 151,056 shares; 2025Q2: 155,804 shares; 2025Q3: 157,311 shares 157,311$43.9M4.79%+1,507Timeline
UBERUBER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 486,904 shares; 2024Q4: 409,339 shares; 2025Q1: 425,347 shares; 2025Q2: 438,323 shares; 2025Q3: 441,903 shares 441,903$43.3M4.72%+3,580Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 127,915 shares; 2024Q4: 132,386 shares; 2025Q1: 137,364 shares; 2025Q2: 80,994 shares; 2025Q3: 181,793 shares 181,793$43M4.68%+100,799Timeline
AONAON PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 145,750 shares; 2024Q4: 152,650 shares; 2025Q1: 158,553 shares; 2025Q2: 106,085 shares; 2025Q3: 107,023 shares 107,023$38.2M4.16%+938Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 83,753 shares; 2024Q4: 86,765 shares; 2025Q1: 90,240 shares; 2025Q2: 93,028 shares; 2025Q3: 93,860 shares 93,860$32M3.49%+832Timeline
WWDWOODWARD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 78,871 shares; 2025Q3: 122,367 shares 122,367$30.9M3.37%+43,496Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 47,338 shares; 2024Q4: 49,100 shares; 2025Q1: 51,076 shares; 2025Q2: 52,694 shares; 2025Q3: 53,118 shares 53,118$30.2M3.29%+424Timeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 33,396 shares; 2024Q4: 34,468 shares; 2025Q1: 35,646 shares; 2025Q2: 23,664 shares; 2025Q3: 23,888 shares 23,888$28.6M3.12%+224Timeline
LINLINDE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,036 shares; 2024Q4: 47,721 shares; 2025Q1: 49,195 shares; 2025Q2: 50,664 shares; 2025Q3: 51,088 shares 51,088$24.3M2.65%+424Timeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 199,673 shares; 2024Q4: 206,695 shares; 2025Q1: 215,467 shares; 2025Q2: 115,037 shares; 2025Q3: 116,161 shares 116,161$22.8M2.48%+1,124Timeline
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 118,245 shares; 2024Q4: 60,591 shares; 2025Q1: 63,527 shares; 2025Q2: 65,472 shares; 2025Q3: 66,065 shares 66,065$21.8M2.38%+593Timeline
CEGCONSTELLATION ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 186,199 shares; 2024Q4: 156,937 shares; 2025Q1: 118,209 shares; 2025Q2: 65,134 shares; 2025Q3: 65,775 shares 65,775$21.6M2.36%+641Timeline
SPOTSPOTIFY TECHNOLOGY S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 12,934 shares; 2025Q3: 30,352 shares 30,352$21.2M2.31%+17,418Timeline
GWREGUIDEWIRE SOFTWARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 78,935 shares; 2025Q3: 79,596 shares 79,596$18.3M1.99%+661Timeline
BILSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,284 shares; 2024Q4: 59,373 shares; 2025Q1: 85,539 shares; 2025Q2: 205,795 shares; 2025Q3: 186,441 shares 186,441$17.1M1.86%-19,354Timeline
HWMHOWMET AEROSPACE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 74,011 shares; 2025Q1: 77,366 shares; 2025Q2: 79,818 shares; 2025Q3: 80,499 shares 80,499$15.8M1.72%+681Timeline
CRSCARPENTER TECHNOLOGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 47,076 shares; 2025Q1: 49,332 shares; 2025Q2: 50,886 shares; 2025Q3: 51,321 shares 51,321$12.6M1.37%+435Timeline
CSGPCOSTAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 98,902 shares; 2024Q4: 101,649 shares; 2025Q1: 103,841 shares; 2025Q2: 106,893 shares; 2025Q3: 107,711 shares 107,711$9.09M0.99%+818Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,848 shares; 2025Q3: 3,887 shares 3,887$9.08M0.99%+39Timeline
SGOVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,766 shares; 2024Q4: 24,755 shares; 2025Q1: 35,411 shares; 2025Q2: 64,241 shares; 2025Q3: 59,941 shares 59,941$6.04M0.66%-4,300Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,400 shares; 2024Q4: 3,400 shares; 2025Q1: 3,400 shares; 2025Q2: 3,400 shares; 2025Q3: 3,400 shares 3,400$827K0.09%0Timeline
BRK-ABERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1 shares; 2024Q4: 1 shares; 2025Q1: 1 shares; 2025Q2: 1 shares; 2025Q3: 1 shares 1$754K0.08%0Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000 shares; 2024Q4: 1,000 shares; 2025Q1: 1,000 shares; 2025Q2: 1,000 shares; 2025Q3: 1,000 shares 1,000$503K0.05%0Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
FISVFISERV INC155,630$26.8Mshares

How Q3 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 0001410833-25-000008 base2025-11-14acceptance time not in the bulk data set