HMI Capital Management, L.P.

CIK

1469026

Location

SAN FRANCISCO, CA

Portfolio Value

Small $754,263,200

Diversification

Diversified

Filing Date

Global Rank

#2,087 / 8,623 ▼ 465 · as of Mar 2026

Top Industry

Software - Infrastructure 29.8%

3Y Alpha vs SPY

-24.2%

Period ended 4 months ago

Filed May 15, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

-14.6%

SPY

+65.3%

Annualised alpha

-23.3%

Max drawdown

−47.6%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

11 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

14.7%

+0.5 pts

Top 5

65.0%

−0.6 pts

Top 10

96.5%

−3.5 pts

HHI

1,090

Diversified−52

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	50.5%	$381,085,051	6
Consumer Cyclical	29.3%	$221,241,238	2
Financial Services	14.4%	$108,538,423	2
Communication Services	5.8%	$43,398,488	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

2 positions

Ticker	Company	Δ Shares	Shares	Value
AMZN	Amazon Com Inc	+22,650	529,150	$110,206,070
NCNO	nCino, Inc.	+2,055	6,778,028	$101,534,859
No positions match the current search.

Trimmed

Positions the filer reduced

6 positions

Ticker	Company	Δ Shares	Shares	Value
GTLB	Gitlab Inc.	−1,637,404	2,651,677	$57,382,290
CPNG	Coupang, Inc.	−875,000	5,881,100	$111,035,168
TOST	Toast, Inc.	−488,500	3,814,983	$101,135,199
KLAR	Klarna Group plc	−328,378	4,123,719	$53,979,481
TW	Tradeweb Markets Inc.	−68,300	463,700	$54,558,942
FICO	Fair Isaac Corp	−20,450	26,600	$28,396,564
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
MSFT	Microsoft Corp	179,700	$66,519,549
RBLX	Roblox Corp	767,300	$43,398,488
NOW	ServiceNow, Inc.	249,800	$26,116,590
No positions match the current search.

Sold Out

Positions the filer fully exited

2 positions

Ticker	Company	Shares	Value
CWAN	Clearwater Analytics Holdings, Inc.	6,339,500	$152,908,740
OWL	Blue Owl Capital Inc.	2,412,457	$36,042,107
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

11 tracked positions · $754,263,200 total · filing declares 11 positions · $754,263,202 · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Financial Services Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
CPNG	Coupang, Inc. Consumer Cyclical	Reduced	5,881,100	-875,000	$111,035,168	−30.3%	14.72%
AMZN	Amazon Com Inc Consumer Cyclical	Added	529,150	+22,650	$110,206,070	−5.7%	14.61%
NCNO	nCino, Inc. Technology	Added	6,778,028	+2,055	$101,534,859	−41.6%	13.46%
TOST	Toast, Inc. Technology	Reduced	3,814,983	-488,500	$101,135,199	−33.8%	13.41%
MSFT	Microsoft Corp Technology	NEW	179,700	NEW	$66,519,549	NEW	8.82%
GTLB	Gitlab Inc. Technology	Reduced	2,651,677	-1,637,404	$57,382,290	−64.4%	7.61%
TW	Tradeweb Markets Inc. Financial Services	Reduced	463,700	-68,300	$54,558,942	−4.6%	7.23%
KLAR	Klarna Group plc Financial Services	Reduced	4,123,719	-328,378	$53,979,481	−58.1%	7.16%
RBLX	Roblox Corp Communication Services	NEW	767,300	NEW	$43,398,488	NEW	5.75%
FICO	Fair Isaac Corp Technology	Reduced	26,600	-20,450	$28,396,564	−64.3%	3.76%
NOW	ServiceNow, Inc. Technology	NEW	249,800	NEW	$26,116,590	NEW	3.46%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.