Night Owl Capital Management, LLC 13F: Quarter-over-Quarter Portfolio Changes
Night Owl Capital Management, LLC reported a disclosed portfolio value of approximately $952.8 million in its latest SEC Form 13F-HR filing for Q2 2026, up 11.0% quarter on quarter. Over the quarter, the fund initiated 2 new positions, bought more shares in 22 holdings, trimmed 4 holdings, and exited 2 positions.
Night Owl Capital Management, LLC's top buy was Applied Materials INC (AMAT) . The fund bought 208.9% more shares, lifting the position's portfolio weight by 5.5 percentage points. Its top sell was Ge Vernova INC (GEV) . The fund sold 62.5% of its previously reported shares, reducing the position's portfolio weight by 3.6 percentage points.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| NATERA INC | NTRA | 1.2% | Holders → |
| TWIST BIOSCIENCE | TWST | 0.5% | Holders → |
Top BuysQ2 2026
Showing the top 10 buys among 22 existing positions where the fund bought more shares in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| APPLIED MATERIALS INC | AMAT | +5.5% | +208.9% | History → |
| SPDR BLOOMBERG 1-3 MONTH T-BIL | BIL | +0.6% | +35.2% | Holders → |
| ISHARES 0-3 MONTH TREASURY BON | SGOV | +0.1% | +27.7% | Holders → |
| MERCADOLIBRE INC | MELI | +-0.1% | +1.8% | Holders → |
| META PLATFORMS INC | META | +-0.5% | +1.7% | History → |
| UNION PACIFIC CORP. | UNP | +0.1% | +1.7% | History → |
| WOODWARD | WWD | +0.5% | +1.7% | History → |
| SPOTIFY TECHNOLOGY S A | SPOT | +-0.2% | +1.7% | Holders → |
| GE HEALTHCARE TECHNOLOGIES I | GEHC | +-0.4% | +1.7% | Holders → |
| GUIDEWIRE SOFTWARE | GWRE | +-0.4% | +1.7% | Holders → |
Top SellsQ2 2026
The fund's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| GE VERNOVA INC | GEV | -3.6% | 62.5% | Holders → |
| CONSTELLATION ENERGY | CEG | -0.6% | 33.5% | Holders → |
| SAP SE SPON ADR | SAP | -1.9% | 24.2% | Holders → |
| ALPHABET INC | GOOG | -1.4% | 21.5% | History → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| NETFLIX INC. | NFLX | 2.7% |
| ALPHABET INC-CL A | GOOGL | 0.1% |
Net Portfolio Value ChangeQ2 2026
- $0.9BPrior quarter
- $1.0BCurrent quarter
- +$0.1BNet delta
- +11.0%% change
Methodology & FAQ
How Night Owl Capital Management, LLC Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Night Owl Capital Management, LLC: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did Night Owl Capital Management, LLC buy in Q2 2026?
In Q2 2026, Night Owl Capital Management, LLC initiated 2 new positions (NATERA INC (NTRA), TWIST BIOSCIENCE (TWST)); bought more shares of APPLIED MATERIALS INC (AMAT), SPDR BLOOMBERG 1-3 MONTH T-BIL (BIL), ISHARES 0-3 MONTH TREASURY BON (SGOV), MERCADOLIBRE INC (MELI), META PLATFORMS INC (META) (the largest 5 of 22 adds).
What stocks did Night Owl Capital Management, LLC sell in Q2 2026?
In Q2 2026, Night Owl Capital Management, LLC fully sold 2 positions (NETFLIX INC. (NFLX), ALPHABET INC-CL A (GOOGL)); reduced holdings in GE VERNOVA INC (GEV), CONSTELLATION ENERGY (CEG), SAP SE SPON ADR (SAP), ALPHABET INC (GOOG).
Which positions did Night Owl Capital Management, LLC initiate in Q2 2026?
Night Owl Capital Management, LLC established 2 new positions in Q2 2026: NATERA INC (NTRA, 1.2%), TWIST BIOSCIENCE (TWST, 0.5%).
Which existing positions saw the largest allocation increases for Night Owl Capital Management, LLC in Q2 2026?
Of 22 existing positions with share-count increases in Q2 2026, the largest were: APPLIED MATERIALS INC (AMAT, +5.5% weight, +208.9% shares), SPDR BLOOMBERG 1-3 MONTH T-BIL (BIL, +0.6% weight, +35.2% shares), ISHARES 0-3 MONTH TREASURY BON (SGOV, +0.1% weight, +27.7% shares), MERCADOLIBRE INC (MELI, +-0.1% weight, +1.8% shares), META PLATFORMS INC (META, +-0.5% weight, +1.7% shares), UNION PACIFIC CORP. (UNP, +0.1% weight, +1.7% shares), WOODWARD (WWD, +0.5% weight, +1.7% shares), SPOTIFY TECHNOLOGY S A (SPOT, +-0.2% weight, +1.7% shares), GE HEALTHCARE TECHNOLOGIES I (GEHC, +-0.4% weight, +1.7% shares), GUIDEWIRE SOFTWARE (GWRE, +-0.4% weight, +1.7% shares).
Which positions did Night Owl Capital Management, LLC fully exit in Q2 2026?
Night Owl Capital Management, LLC fully exited 2 positions in Q2 2026: NETFLIX INC. (NFLX, last-reported weight 2.7%), ALPHABET INC-CL A (GOOGL, last-reported weight 0.1%).
Which existing positions saw the largest allocation reductions for Night Owl Capital Management, LLC in Q2 2026?
Of 4 existing positions with share-count reductions in Q2 2026, the largest were: GE VERNOVA INC (GEV, -3.6% weight, -62.5% shares), CONSTELLATION ENERGY (CEG, -0.6% weight, -33.5% shares), SAP SE SPON ADR (SAP, -1.9% weight, -24.2% shares), ALPHABET INC (GOOG, -1.4% weight, -21.5% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.