HMI Capital Management, L.P.

SAN FRANCISCO, CA · CIK 1469026 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2012 · limited partnership

Assets managed$2.2bn
Staff16 · 8 in investment roles
Main clients (by assets)Private funds 100%
Private funds2 (2 hedge) · $2.2bn gross assets
Websitehmicapital.com
Form ADV · 2026-03-31SEC adviser record

Legal entityHMI Capital Management, L.P. (US)

Kindhedge funds, futures
Others nearbySan Francisco, CA

As an employer

Offices in1 country
Private fundshedge 2

US visa salary filings

Filings FY20251
Median salary offered$143,000
Middle half$143,000 – $143,000
Job titles1

Job title	Filings	Median	Range
Senior Financial AnalystSan Francisco, CA	1	$143,000	$143,000 – $190,000

Source: US Department of Labor, Labor Condition Application disclosure data (certified, full-time, yearly equivalent). These are the salaries the employer committed to pay the visa roles it filed for, at least the prevailing wage for the job and place; they are not the pay of all its staff. Filed by: HMI Capital Management, L.P..

$686.3m reported value -9.0% vs Q1 2026

13positions

89.6%in top 10

6 new 1 added 6 reduced 4 sold out vs Q1 2026

Options: 1 call positions ($26.1m notional), 0 put positions (— notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	AMAZON COM INC COM AMZN	AMZN	425,950	$101.5m14.79%	14.79%	Reduced -103.2k	-103,200 -19.5%
2	TOAST INC CL A TOST	TOST	3,504,744	$97.5m14.21%	14.21%	Reduced -310.2k	-310,239 -8.1%
3	NCINO INC COM NCNO	NCNO	4,990,713	$81.6m11.89%	11.89%	Reduced -1.8m	-1,787,315 -26.4%
4	COUPANG INC CL A CPNG	CPNG	4,415,300	$76.7m11.17%	11.17%	Reduced -1.5m	-1,465,800 -24.9%
5	MICROSOFT CORP COM MSFT	MSFT	165,300	$61.7m8.98%	8.98%	Reduced -14.4k	-14,400 -8.0%
6	TRADEWEB MKTS INC CL A TW	TW	455,400	$45.4m6.61%	6.61%	Reduced -8.3k	-8,300 -1.8%
7	SPOTIFY TECHNOLOGY S A SHS SPOT	SPOT	91,500	$42.0m6.12%	6.12%	New
8	SERVICENOW INC COM NOW	NOW	416,100	$41.3m6.02%	6.02%	Added +166.3k	+166,300 66.6%
9	ADVANCED MICRO DEVICES INC COM AMD	AMD	58,800	$34.2m4.98%	4.98%	New
10	LPL FINL HLDGS INC COM LPLA	LPLA	118,600	$33.4m4.87%	4.87%	New
11	NVIDIA CORPORATION COM NVDA	NVDA	162,800	$32.6m4.75%	4.75%	New
12	DOORDASH INC CL A DASH	DASH	143,400	$26.5m3.86%	3.86%	New
13	APPFOLIO INC COM CL A APPF	APPF	75,000	$12.0m1.75%	1.75%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
GITLAB INC GTLB	GTLB	2,651,677	$57.4m2.7m shares
KLARNA GROUP PLC KLAR	KLAR	4,123,719	$54.0m4.1m shares
ROBLOX CORP RBLX	RBLX	767,300	$43.4m767.3k shares
FAIR ISAAC CORP FICO	FICO	26,600	$28.4m26.6k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
COUPANG INC CPNG · Call	CPNG	Call	1,500,000	$26.1m1.5m shares	New