Night Owl Capital Management, LLC Long-Term Concentrated

Location: Greenwich, CT

CIK: 0001410833 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Aug 14, 2025

Total Value: $865M (100.0% shares, 0.0% debt)

Holdings (31)

AMZN AMAZON COM INC COM 8.6%

Value $74.28M Shares 338,588 Share Price $219.39 * Est. Cost/Share $130.96 Unrealized @ Report Date +51.1%

SAP SAP SE SPON ADR 8.5%

Value $73.89M Shares 242,973 Share Price $304.10 Est. Cost/Share $150.57 Unrealized @ Report Date —

MSFT MICROSOFT CORP COM 8.5%

Value $73.12M Shares 147,011 Share Price $497.41 * Est. Cost/Share $143.09 Unrealized @ Report Date +202.2%

GOOG ALPHABET INC CAP STK CL C 6.5%

Value $56.18M Shares 316,696 Share Price $177.39 * Est. Cost/Share $115.47 Unrealized @ Report Date +42.8%

GEV GE VERNOVA 5.4%

Value $46.69M Shares 88,243 Share Price $529.15 * Est. Cost/Share $215.07 Unrealized @ Report Date +93.4%

UBER UBER TECHNOLOGIES 4.7%

Value $40.9M Shares 438,323 Share Price $93.30 * Est. Cost/Share $45.24 Unrealized @ Report Date +82.0%

META META PLATFORMS INC CL A 4.6%

Value $40.07M Shares 54,282 Share Price $738.09 * Est. Cost/Share $463.03 Unrealized @ Report Date +33.2%

GE GE AEROSPACE 4.5%

Value $39.03M Shares 151,639 Share Price $257.39 * Est. Cost/Share $127.48 Unrealized @ Report Date +71.5%

AON AON PLC REGISTERED SHS CL A 4.4%

Value $37.85M Shares 106,085 Share Price $356.76 Est. Cost/Share $299.72 Unrealized @ Report Date +20.5%

TSM TAIWAN SEMICONDUCTOR MFG CO SP 4.1%

Value $35.29M Shares 155,804 Share Price $226.49 Est. Cost/Share $128.97 Unrealized @ Report Date —

V VISA INC COM CL A 3.8%

Value $33.03M Shares 93,028 Share Price $355.05 * Est. Cost/Share $109.40 Unrealized @ Report Date +217.2%

NFLX NETFLIX INC COM 3.7%

Value $31.69M Shares 23,664 Share Price $1339.13 * Est. Cost/Share $36.94 Unrealized @ Report Date +206.1%

MA MASTERCARD INC CL A 3.4%

Value $29.61M Shares 52,694 Share Price $561.94 Est. Cost/Share $154.66 Unrealized @ Report Date +256.6%

FISV FISERV 3.1%

Value $26.83M Shares 155,630 Share Price $172.41 * Est. Cost/Share $128.82 Unrealized @ Report Date +40.8%

LIN LINDE PLC 2.7%

Value $23.77M Shares 50,664 Share Price $469.18 * Est. Cost/Share $425.48 Unrealized @ Report Date +6.3%

VST VISTRA CORP 2.6%

Value $22.3M Shares 115,037 Share Price $193.81 * Est. Cost/Share $56.73 Unrealized @ Report Date +159.9%

CEG CONSTELLATION ENERGY 2.4%

Value $21.02M Shares 65,134 Share Price $322.76 * Est. Cost/Share $153.92 Unrealized @ Report Date +71.4%

WWD WOODWARD 2.2%

Value $19.33M Shares 78,871 Share Price $245.09 * Est. Cost/Share $203.79 Unrealized @ Report Date 0.0%

BIL SPDR BLOOMBERG 1-3 MONTH T-BIL 2.2%

Value $18.88M Shares 205,795 Share Price $91.73 Est. Cost/Share $91.69 Unrealized @ Report Date —

UNP UNION PACIFIC CORP. 2.2%

Value $18.64M Shares 80,994 Share Price $230.08 * Est. Cost/Share $212.66 Unrealized @ Report Date +2.7%

GWRE GUIDEWIRE SOFTWARE 2.1%

Value $18.59M Shares 78,935 Share Price $235.45 * Est. Cost/Share $214.86 Unrealized @ Report Date 0.0%

AVGO BROADCOM 2.1%

Value $18.05M Shares 65,472 Share Price $275.65 * Est. Cost/Share $160.24 Unrealized @ Report Date +34.7%

HWM HOWMET AEROSPACE 1.7%

Value $14.86M Shares 79,818 Share Price $186.13 * Est. Cost/Share $111.29 Unrealized @ Report Date +38.0%

CRS CARPENTER TECHNOLOGY 1.6%

Value $14.06M Shares 50,886 Share Price $276.38 * Est. Cost/Share $173.08 Unrealized @ Report Date +25.6%

— MERCADOLIBRE 1.2%

Value $10.06M Shares 3,848 Share Price $2613.63 Est. Cost/Share $2613.63 Unrealized @ Report Date —

SPOT SPOTIFY TECHNOLOGY SA 1.1%

Value $9.925M Shares 12,934 Share Price $767.34 * Est. Cost/Share $641.84 Unrealized @ Report Date 0.0%

CSGP COSTAR GROUP INC COM 1.0%

Value $8.594M Shares 106,893 Share Price $80.40 * Est. Cost/Share $80.18 Unrealized @ Report Date -2.8%

SGOV ISHARES 0-3 MONTH TREASURY BON 0.7%

Value $6.468M Shares 64,241 Share Price $100.69 Est. Cost/Share $100.65 Unrealized @ Report Date —

BRK/A BERKSHIRE HATHAWAY INC CL A 0.1%

Value $729K Shares 1 Share Price $728800.00 * Est. Cost/Share $275226.66 Unrealized @ Report Date +176.8%

GOOGL ALPHABET INC. CL A 0.1%

Value $599K Shares 3,400 Share Price $176.23 * Est. Cost/Share $110.35 Unrealized @ Report Date +48.0%

BRK/B BERKSHIRE HATHAWAY INC CL B 0.1%

Value $486K Shares 1,000 Share Price $485.77 * Est. Cost/Share $207.14 Unrealized @ Report Date +145.2%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AMZN	AMAZON COM INC COM	338,588	$74.28M	8.6%	$219.39 *	$130.96	+51.1%	COM	023135106
SAP	SAP SE SPON ADR	242,973	$73.89M	8.5%	$304.10	$150.57	—	COM	803054204
MSFT	MICROSOFT CORP COM	147,011	$73.12M	8.5%	$497.41 *	$143.09	+202.2%	COM	594918104
GOOG	ALPHABET INC CAP STK CL C	316,696	$56.18M	6.5%	$177.39 *	$115.47	+42.8%	COM	02079K107
GEV	GE VERNOVA	88,243	$46.69M	5.4%	$529.15 *	$215.07	+93.4%	COM	36828A101
UBER	UBER TECHNOLOGIES	438,323	$40.9M	4.7%	$93.30 *	$45.24	+82.0%	COM	90353T100
META	META PLATFORMS INC CL A	54,282	$40.07M	4.6%	$738.09 *	$463.03	+33.2%	COM	30303M102
GE	GE AEROSPACE	151,639	$39.03M	4.5%	$257.39 *	$127.48	+71.5%	COM	369604301
AON	AON PLC REGISTERED SHS CL A	106,085	$37.85M	4.4%	$356.76	$299.72	+20.5%	COM	G0403H108
TSM	TAIWAN SEMICONDUCTOR MFG CO SP	155,804	$35.29M	4.1%	$226.49	$128.97	—	COM	874039100
V	VISA INC COM CL A	93,028	$33.03M	3.8%	$355.05 *	$109.40	+217.2%	COM	92826C839
NFLX	NETFLIX INC COM	23,664	$31.69M	3.7%	$1339.13 *	$36.94	+206.1%	COM	64110L106
MA	MASTERCARD INC CL A	52,694	$29.61M	3.4%	$561.94	$154.66	+256.6%	COM	57636Q104
FISV	FISERV	155,630	$26.83M	3.1%	$172.41 *	$128.82	+40.8%	COM	337738108
LIN	LINDE PLC	50,664	$23.77M	2.7%	$469.18 *	$425.48	+6.3%	COM	G54950103
VST	VISTRA CORP	115,037	$22.3M	2.6%	$193.81 *	$56.73	+159.9%	COM	92840M102
CEG	CONSTELLATION ENERGY	65,134	$21.02M	2.4%	$322.76 *	$153.92	+71.4%	COM	21037T109
WWD	WOODWARD	78,871	$19.33M	2.2%	$245.09 *	$203.79	0.0%	COM	980745103
BIL	SPDR BLOOMBERG 1-3 MONTH T-BIL	205,795	$18.88M	2.2%	$91.73	$91.69	—	TR UNIT	78468R663
UNP	UNION PACIFIC CORP.	80,994	$18.64M	2.2%	$230.08 *	$212.66	+2.7%	COM	907818108
GWRE	GUIDEWIRE SOFTWARE	78,935	$18.59M	2.1%	$235.45 *	$214.86	0.0%	COM	40171V100
AVGO	BROADCOM	65,472	$18.05M	2.1%	$275.65 *	$160.24	+34.7%	COM	11135F101
HWM	HOWMET AEROSPACE	79,818	$14.86M	1.7%	$186.13 *	$111.29	+38.0%	COM	443201108
CRS	CARPENTER TECHNOLOGY	50,886	$14.06M	1.6%	$276.38 *	$173.08	+25.6%	COM	144285103
—	MERCADOLIBRE	3,848	$10.06M	1.2%	$2613.63	$2613.63	—	COM	58733r102
SPOT	SPOTIFY TECHNOLOGY SA	12,934	$9.925M	1.1%	$767.34 *	$641.84	0.0%	COM	L8681T102
CSGP	COSTAR GROUP INC COM	106,893	$8.594M	1.0%	$80.40 *	$80.18	-2.8%	COM	22160N109
SGOV	ISHARES 0-3 MONTH TREASURY BON	64,241	$6.468M	0.7%	$100.69	$100.65	—	TR UNIT	46436E718
BRK/A	BERKSHIRE HATHAWAY INC CL A	1	$729K	0.1%	$728800.00 *	$275226.66	+176.8%	COM	084670108
GOOGL	ALPHABET INC. CL A	3,400	$599K	0.1%	$176.23 *	$110.35	+48.0%	COM	02079K305
BRK/B	BERKSHIRE HATHAWAY INC CL B	1,000	$486K	0.1%	$485.77 *	$207.14	+145.2%	COM	084670702