1y return−34.0%S&P 500 +20.9%
3y return−4.4%S&P 500 +68.5%
5y return−28.4%S&P 500 +74.5%
10y return+219.0%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $319 against $357 in the S&P 500.2
HMI Capital Management, L.P.S&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| AMZNAmazon Com Inc | $101.5M | 14.8% | −19.5% |
| TOSTToast Inc | $97.5M | 14.2% | −8.1% |
| NCNONcino Inc | $81.6M | 11.9% | −26.4% |
| CPNGCoupang Inc | $76.7M | 11.2% | −24.9% |
| MSFTMicrosoft Corp | $61.7M | 9.0% | −8.0% |
| TWTradeweb Mkts Inc | $45.4M | 6.6% | −1.8% |
| Spotify Technology S ACUSIP L8681T102 | $42.0M | 6.1% | New |
| NOWServicenow Inc | $41.3M | 6.0% | +66.6% |
| AMDAdvanced Micro Devices Inc | $34.2M | 5.0% | New |
| LPLALpl Finl Hldgs Inc | $33.4M | 4.9% | New |
| NVDANvidia Corporation | $32.6M | 4.7% | New |
| DASHDoordash Inc | $26.5M | 3.9% | New |
| APPFAppfolio Inc | $12.0M | 1.8% | New |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| CPNGCoupang Inc | December 31, 2023 | +7.3% | $76.7M |
| AMZNAmazon Com Inc | December 31, 2025 | +3.3% | $101.5M |
| MSFTMicrosoft Corp | March 31, 2026 | +0.8% | $61.7M |
| NOWServicenow Inc | March 31, 2026 | −5.0% | $41.3M |
| TWTradeweb Mkts Inc | September 30, 2025 | −10.2% | $45.4M |
| TOSTToast Inc | September 30, 2021 | −44.3% | $97.5M |
| NCNONcino Inc | March 31, 2022 | −60.1% | $81.6M |
Sold off last quarter
- GTLBGitlab Inc was $57.4M
- Klarna Group PLCCUSIP G5279N105 was $54.0M
- RBLXRoblox Corp was $43.4M
- FICOFair Isaac Corp was $28.4M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +8.9% | +14.8% |
| March 31, 2026 | −27.4% | −4.6% |
| December 31, 2025 | −12.3% | +2.4% |
| September 30, 2025 | −4.8% | +7.8% |
| June 30, 2025 | +23.9% | +10.5% |
| March 31, 2025 | −8.6% | −4.6% |
| December 31, 2024 | +12.5% | +2.1% |
| September 30, 2024 | +4.8% | +5.4% |
| June 30, 2024 | −7.1% | +4.0% |
| March 31, 2024 | +4.5% | +10.0% |
| December 31, 2023 | +19.9% | +11.2% |
| September 30, 2023 | −6.9% | −3.6% |
| June 30, 2023 | +8.4% | +8.3% |
| March 31, 2023 | +10.6% | +7.0% |
| December 31, 2022 | +2.0% | +7.1% |
| September 30, 2022 | +2.8% | −5.3% |
| June 30, 2022 | −26.1% | −16.5% |
| March 31, 2022 | −22.8% | −4.9% |
| December 31, 2021 | +2.0% | +10.7% |
| September 30, 2021 | +2.4% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: HMI Capital Management, L.P. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1469026&type=13F-HR&dateb=&owner=include&count=40CIK 1469026
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1469026/000146902626000005/Filed August 14, 2026 · accession 0001469026-26-000005