# Night Owl Capital Management, LLC

> Night Owl Capital Management, LLC is an SEC-registered investment advisory firm in Greenwich, CT, registered since 1993, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 106030
- Filed as: NIGHT OWL CAPITAL MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Greenwich, CT
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106030
- AdvisorCensus page: https://advisorcensus.com/firm/night-owl-capital-management-llc-greenwich-ct-106030

## Quick answers

**How is Night Owl Capital Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Night Owl Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management.

**Where is Night Owl Capital Management, LLC located?**
Night Owl Capital Management, LLC's principal office is in Greenwich, CT, according to its Form ADV.

**Is Night Owl Capital Management, LLC registered with the SEC or a state?**
Night Owl Capital Management, LLC is an SEC-registered investment advisory firm, registered since 1993. Status as filed: Approved. CRD 106030.

**How much does Night Owl Capital Management, LLC manage?**
Night Owl Capital Management, LLC reports $1,095,200,000 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Night Owl Capital Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Night Owl Capital Management, LLC: Regulatory assets under management: $1,103,943,810 in the October 2021 data and $1,095,200,000 in the October 2026 data, down 1%. Total employees: 7 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Night Owl Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (143); individuals (other than high net worth individuals) (53); corporations or other businesses not listed above (17).

**Which custodians does Night Owl Capital Management, LLC use?**
Night Owl Capital Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC and Wells Fargo Clearing Services, LLC as custodians holding 10% or more of its separately managed account assets.

**Does Night Owl Capital Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106030

**What changed in Night Owl Capital Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 5 to 6. Regulatory assets under management went from $865,800,000 to $1,095,200,000 (+26%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC
- Wells Fargo Clearing Services, LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $1,095,200,000
- Discretionary: $1,095,200,000
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 53 | $24,500,000 |
| High net worth individuals | 143 | $718,500,000 |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $221,700,000 |
| Charitable organizations | 3 | $51,100,000 |
| Insurance companies | 1 | $4,800,000 |
| Corporations or other businesses not listed above | 17 | $74,600,000 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1993 (32 years)
- Employees: 8 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, CT, FL, LA, MA, NC, NJ, NY, PA, SC, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- nightowlcapital.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,103,943,810 | 7 | August 3, 2021 |
| October 2022 | $696,900,000 | 8 | March 2, 2022 |
| October 2023 | $534,100,000 | 9 | May 10, 2023 |
| October 2024 | $652,700,000 | 9 | July 2, 2024 |
| October 2025 | $865,800,000 | 7 | March 25, 2025 |
| October 2026 | $1,095,200,000 | 8 | March 31, 2026 |

Regulatory assets under management: $1,103,943,810 in the October 2021 data and $1,095,200,000 in the October 2026 data, down 1%.
Total employees: 7 in October 2021 and 8 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 5 to 6.
- Regulatory assets under management went from $865,800,000 to $1,095,200,000 (+26%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Night Owl Capital Management, LLC (CRD 106030): Form ADV filing data as of October 2026.