HMI Capital Management, L.P.

Q4 2025 13F-HR Holdings

Location
San Francisco, CA
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
10
Total value ($000)
$1,218,224
Net value change ($000)
-513,709 (-29.7%)
New positions
2
Sold out positions
4
Turnover %
53.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
AMZN 116,910 NEW
FICO 79,544 NEW
CWAN 56,300 58.3%
TOST 30,787 25.2%
TW 8,546 17.6%
Top Reduces (Value $000, Stocks/ETFs)
FLUT -212,702 -100.0%
GTLB -130,539 -44.8%
CPNG -115,210 -42.0%
NICE -111,537 -100.0%
WDAY -105,223 -100.0%
OWL -60,535 -62.7%
KLAR -34,459 -21.1%
CHYM -25,631 -100.0%
NCNO -9,961 -5.4%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type