HMI Capital Management, L.P.
•CIK: 1469026•Filing: Q4 2025
**HMI Capital Management, L.P.** manages $1.2B across a concentrated portfolio of 10 positions. The fund exhibits significant conviction in select names, with top holdings including NCNO at $173.7M and GTLB at $161.0M. Further substantial allocations are directed toward CPNG ($159.4M), CWAN ($152.9M), and TOST ($152.8M). This structure suggests a high-conviction, bottom-up approach targeting outsized returns within specific market sectors.
Total AUM
$1.2B
QoQ Performance
-29.7%
Positions
10
Top 10 Concentration
100.0%
Latest Filing
Q4 2025
Top Holdings Allocation
NCNO
GTLB
CPNG
CWAN
TOST
KLAR
AMZN
FICO
NCNO14.3%
GTLB13.2%
CPNG13.1%
CWAN12.6%
TOST12.5%
KLARNA10.6%
AMZN9.6%
FICO6.5%
📈 Biggest Buys
📉 Biggest Sells
Sector Breakdown
Other90.4%
Consumer9.6%
🚪 Exited Positionssold since Q3 2025
Changes from Q3 2025
NEW2 new positions
↑3 increased
↓3 decreased
Historical Filings
Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022