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Night Owl Capital Management, LLC

Q4 2025 · Filed 2026-02-13
Market Value
$904M
-0.4%
Holdings
30
New Purchases
1
Added To
22
Closed
2
Reduced
2
Top 10 Concentration
65.9%
Turnover
10.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOG 11.26% 8.56% +2.70% $102M
GEHC 2.51% 0.00% +2.51% $23M
WWD 4.16% 3.40% +0.75% $38M
MSFT 9.19% 8.45% +0.74% $83M
META 5.92% 5.27% +0.65% $54M
TSM 5.36% 4.84% +0.52% $48M
GEV 6.53% 6.03% +0.51% $59M
AMZN 6.71% 6.25% +0.46% $61M
CRS 1.81% 1.39% +0.43% $16M
BIL 2.30% 1.88% +0.41% $21M
GE 5.26% 5.06% +0.20% $48M
V 3.69% 3.53% +0.17% $33M
AVGO 2.56% 2.40% +0.16% $23M
HWM 1.85% 1.74% +0.11% $17M
MA 3.40% 3.33% +0.08% $31M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
UBER 0.00% 4.77% -4.77% $0
VST 0.00% 2.51% -2.51% $0
CEG 1.41% 2.38% -0.97% $13M
NFLX 2.52% 3.15% -0.64% $23M
SAP 6.65% 7.21% -0.56% $60M
SPOT 1.98% 2.33% -0.35% $18M
LIN 2.43% 2.67% -0.24% $22M
GWRE 1.80% 2.01% -0.22% $16M
CSGP 0.81% 1.00% -0.19% $7M
SGOV 0.65% 0.66% -0.02% $6M
UNP 4.73% 4.73% -0.01% $43M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 16 $649M 71.8%
Large Cap 14 $255M 28.2%

Portfolio Analytics

Avg Market Cap
$878.5B
Median Market Cap
$222.2B
Avg P/E
31.5
Median P/E
28.5
Avg Dividend Yield
0.00%
Avg Beta
1.01
# Stocks
28
# ETFs / Funds
2

Top Holdings (30 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 GOOG 11.26% 324,613 $102M $313.80 $24M +5,343 +1.7%
2 MSFT 9.19% 171,942 $83M $483.62 $6M +23,736 +16.0%
3 AMZN 6.71% 262,874 $61M $230.82 $4M +4,375 +1.7%
4 SAP 6.65% 247,552 $60M $242.91 -$5M +2,494 +1.0%
5 GEV 6.53% 90,403 $59M $653.57 $4M +1,413 +1.6%
6 META 5.92% 81,123 $54M $660.09 $6M +15,906 +24.4%
7 TSM 5.36% 159,593 $48M $303.89 $5M +2,282 +1.4%
8 GE 5.26% 154,584 $48M $308.03 $2M +1,713 +1.1%
9 UNP 4.73% 184,768 $43M $231.32 -$230K +2,975 +1.6%
10 AON 4.24% 108,774 $38M $352.88 $222K +1,751 +1.6%
11 WWD 4.16% 124,385 $38M $302.32 $7M +2,018 +1.6%
12 V 3.69% 95,262 $33M $350.71 $1M +1,402 +1.5%
13 MA 3.40% 53,902 $31M $570.88 $558K +784 +1.5%
14 AVGO 2.56% 66,938 $23M $346.10 $1M +873 +1.3%
15 NFLX 2.52% 242,732 $23M $93.76 -$6M +218,844 +916.1%
16 GEHC 2.51% 276,631 $23M $82.02 +276,631 NEW
17 LIN 2.43% 51,644 $22M $426.39 -$2M +556 +1.1%
18 BIL 2.30% 227,208 $21M $91.38 $4M +40,767 +21.9%
19 SPOT 1.98% 30,862 $18M $580.71 -$3M +510 +1.7%
20 HWM 1.85% 81,703 $17M $205.02 $954K +1,204 +1.5%
21 CRS 1.81% 52,084 $16M $314.84 $4M +763 +1.5%
22 GWRE 1.80% 80,920 $16M $201.01 -$2M +1,324 +1.7%
23 CEG 1.41% 36,212 $13M $353.27 -$9M -29,563 -45.0%
24 CSGP 0.81% 108,615 $7M $67.24 -$2M +904 +0.8%
25 SGOV 0.65% 58,124 $6M $100.38 -$201K -1,817 -3.0%
26 GOOGL 0.12% 3,400 $1M $313.00 $238K
27 BRK-A 0.08% 1 $755K $754,800.00 $600
28 BRK-B 0.06% 1,000 $503K $502.65 -$90
29 UBER —% -$43M -441,903 -100.0% SOLD
30 VST —% -$23M -116,161 -100.0% SOLD

New Positions

SymbolValue% Port
GEHC $23M 2.51%

Sold Out Positions

SymbolValue% Port
UBER —%
VST —%
View SEC EDGAR Filings for Night Owl Capital Management, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms