Institutional
HMI Capital Management, L.P.
CIK 0001469026
$754.3M
Reported AUM
11
Positions
Q1 2026
Period
2026-05-15
Filed
The Brief · HMI Capital Management, L.P. · Q1 2026
AI · grounded in 13F
HMI Capital Management, L.P. closed its entire position in Clearwater Analytics Hldgs I CWAN, reducing exposure by $152.9M. The fund established three new positions, led by a $66.5M investment in Microsoft Corp MSFT, followed by entries into Roblox Corp RBLX at $43.4M and ServiceNow Inc NOW at $26.1M. Additionally, the fund trimmed its holdings in Fair Isaac Corp FICO by 43.5% and GitLab Inc GTLB by 38.2%.
Portfolio · Q1 2026
Top holdings
QoQ vs Q4 2025
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | CPNG | COUPANG INC | $15.15 | -8.35% | -46.75% | -58.29% | $111.0M | 14.72% | −875,000 | −13.0% |
| 2 | AMZN | AMAZON COM INC | $246.03 | -3.06% | 15.20% | 47.87% | $110.2M | 14.61% | +22,650 | +4.5% |
| 3 | NCNO | NCINO INC | $14.92 | -3.43% | -45.39% | -76.53% | $101.5M | 13.46% | +2,055 | +0.0% |
| 4 | TOST | TOAST INC | $24.64 | -2.30% | -44.01% | -53.70% | $101.1M | 13.41% | −488,500 | −11.4% |
| 5 | MSFT | MICROSOFT CORP | $416.67 | -2.66% | -10.71% | 52.39% | $66.5M | 8.82% | +179,700 | NEW |
| 6 | GTLB | GITLAB INC | $31.12 | 0.91% | -36.19% | -67.76% | $57.4M | 7.61% | −1,637,404 | −38.2% |
| 7 | TW | TRADEWEB MKTS INC | $102.53 | 1.92% | -26.39% | 20.69% | $54.6M | 7.23% | −68,300 | −12.8% |
| 8 | KLAR | KLARNA GROUP PLC | $16.36 | -6.35% | -61.88% | -56.45% | $54.0M | 7.16% | −328,378 | −7.4% |
| 9 | RBLX | ROBLOX CORP | $41.82 | -3.53% | -56.35% | -45.67% | $43.4M | 5.75% | +767,300 | NEW |
| 10 | FICO | FAIR ISAAC CORP | $1137.33 | -2.52% | -35.93% | 117.08% | $28.4M | 3.76% | −20,450 | −43.5% |
| 11 | NOW | SERVICENOW INC | $112.45 | -5.79% | -45.42% | -4.36% | $26.1M | 3.46% | +249,800 | NEW |
| 12 | CWAN | CLEARWATER ANALYTICS HLDGS I | $24.37 | -0.04% | 1.92% | 8.41% | — | — | −6,339,500 | EXITED |
| 13 | OWL | BLUE OWL CAPITAL INC | $9.80 | -3.83% | -45.49% | -14.68% | — | — | −2,412,457 | EXITED |
Source: SEC EDGAR · accession 0001469026-26-000004. 13F discloses long positions only — shorts, foreign equities, and options are excluded.