Night Owl Capital Management, LLC

Hedge Fund • Long/Short

Night Owl Capital Management, LLC is a Long/Short Hedge Fund based in Greenwich, CT led by Eileen Honor Ohnell, managing $917.3M across 30 long positions as of Q3 2025 with 61% concentrated in top 10 holdings.

PresidentEileen Honor Ohnell

Portfolio Value: $917.3M
Positions: 30
Top Holding: GOOG at 8.48%
Last Reported: Q3 2025

Address102 Greenwich Avenue, Greenwich, CT, 06830, United States

Top Holdings

Largest long holdings in Night Owl Capital Management, LLC's portfolio (60.6% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$77.8M	8.48%	+$626.9K Bought	0.00% 319.3K shares	Q1 2014 Held for 11y 9m
2 Microsoft MSFT	Software - Infrastructure Technology	$76.8M	8.37%	+$618.9K Bought	0.00% 148.2K shares	Q2 2014 Held for 11y 6m
3 SAP SAP SAP	Unknown Unknown	$65.5M	7.14%	+$557.1K Bought	— 245.1K shares	Q2 2023 Held for 2y 6m
4 Amazon AMZN	Specialty Retail Consumer Cyclical	$56.8M	6.19%	-$17.6M Sold	0.00% 258.5K shares	Q4 2015 Held for 10 years
5 General Electric GEV	Renewable Utilities Utilities	$54.7M	5.97%	+$459.3K Bought	0.03% 89.0K shares	Q2 2024 Held for 1y 6m
6 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$47.9M	5.22%	+$8.0M Bought	0.00% 65.2K shares	Q1 2024 Held for 1y 9m
7 General Electric GE	Aerospace & Defense Industrials	$46.0M	5.01%	+$370.6K Bought	0.01% 152.9K shares	Q1 2024 Held for 1y 9m
8 Taiwan Semiconductor Manufacturing Company TSM	Semiconductors Technology	$43.9M	4.79%	+$420.9K Bought	— 157.3K shares	Q1 2023 Held for 2y 9m
9 Uber Technologies UBER	Software - Application Technology	$43.3M	4.72%	+$350.7K Bought	0.02% 441.9K shares	Q2 2023 Held for 2y 6m
10 Union Pacific UNP	Railroads Industrials	$43.0M	4.68%	+$23.8M Bought	0.03% 181.8K shares	Q2 2023 Held for 2y 6m

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Night Owl Capital Management, LLC's latest filing

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Market Value

$917.3M

Prior: $864.8M

Q/Q Change

+6.07%

+$52.5M

Net Flows % of MV

+1.56%

Turnover Ratio

5.86%

New Purchases

0 stocks

Added To

24 stocks

+$60.9M

Sold Out Of

1 stocks

$26.8M

Reduced Holdings

3 stocks

-$19.8M

Increased Positions

Position	Shares Δ	Change
1 Spotify Technology SPOT	+134.67%	12.9K → 30.4K +$12.2M
2 Union Pacific UNP	+124.45%	81.0K → 181.8K +$23.8M
3 Woodward WWD	+55.15%	78.9K → 122.4K +$11.0M
4 Meta Platforms, Inc. META	+20.14%	54.3K → 65.2K +$8.0M
5 Mercado Libre MELI	+1.01%	3.8K → 3.9K +$91.1K

Decreased Positions

Position	Shares Δ	Change
1 Fiserv FI	Sold	155.6K → 0 −$26.8M
2 Amazon AMZN	-23.65%	338.6K → 258.5K −$17.6M
3 SPDR Bloomberg 1-3 Month T-Bill ETF BIL	-9.4%	205.8K → 186.4K −$1.8M
4 iShares 0-3 Month Treasury Bond SGOV	-6.69%	64.2K → 59.9K −$433.0K