HMI Capital Management, L.P.
Annual return '25
-7.7%
SPY '25
+17.7%
Alpha
-25.4ptsvs SPY
Invested
$754.3M
Holdings
11
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 100%. 2 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$CPNG
COUPANG INC
Q3 2025: Sold 9.9% (9.46M → 8.53M shares)
14.7%
02
$AMZN
AMAZON COM INC
Held since at least Q1 2024
14.6%
03
$NCNO
NCINO INC
Q1 2025: New position (6.77M shares)
13.5%
04
$TOST
TOAST INC
Q3 2025: Increased +18.5% (2.82M → 3.34M shares)
13.4%
05
$MSFT
MICROSOFT CORP
Held since at least Q1 2024
8.8%
06
$GTLB
GITLAB INC
Q3 2025: Increased +10.4% (5.86M → 6.47M shares)
7.6%
07
$TW
TRADEWEB MKTS INC
Q3 2025: New position (438.5k shares)
7.2%
08
$KLAR
KLARNA GROUP PLC
Q3 2025: New position (4.45M shares)
7.2%
09
$RBLX
ROBLOX CORP
Q3 2025: Exited (was 514.1k shares)
5.8%
10
$FICO
FAIR ISAAC CORP
Held since at least Q1 2024
3.8%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 10:30 UTC.