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
| # | Ticker | Issuer | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|
| 1 | CPNG | COUPANG INC | $111.0M | 14.72% | -875,000 | -13.0% |
| 2 | AMZN | AMAZON COM INC | $110.2M | 14.61% | +22,650 | +4.5% |
| 3 | NCNO | NCINO INC | $101.5M | 13.46% | +2,055 | +0.0% |
| 4 | TOST | TOAST INC | $101.1M | 13.41% | -488,500 | -11.4% |
| 5 | MSFT | MICROSOFT CORP | $66.5M | 8.82% | +179,700 | NEW |
| 6 | GTLB | GITLAB INC | $57.4M | 7.61% | -1,637,404 | -38.2% |
| 7 | TW | TRADEWEB MKTS INC | $54.6M | 7.23% | -68,300 | -12.8% |
| 8 | KLAR | KLARNA GROUP PLC | $54.0M | 7.16% | -328,378 | -7.4% |
| 9 | RBLX | ROBLOX CORP | $43.4M | 5.75% | +767,300 | NEW |
| 10 | FICO | FAIR ISAAC CORP | $28.4M | 3.76% | -20,450 | -43.5% |
| 11 | NOW | SERVICENOW INC | $26.1M | 3.46% | +249,800 | NEW |
| 12 | CWAN | CLEARWATER ANALYTICS HLDGS I | — | — | -6,339,500 | EXITED |
| 13 | OWL | BLUE OWL CAPITAL INC | — | — | -2,412,457 | EXITED |
Source: SEC EDGAR · accession 0001469026-26-000004. 13F discloses long positions only — shorts, foreign equities, and options are excluded.