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HMI Capital’s Returns, AUM and Holdings

It’s interesting to note that the fund decided to cut its stakes in the companies which were the most valuable positions it held at the end of Q3. The first one is Apollo Global Management Llc (NYSE:APO), a public equity firm in which the fund lowered its stake by 5%, to 4,402,975 shares worth $152.12 million. While this firm occupies 19.43% of the fund’s portfolio, Tableau Software Inc (NYSE:DATA), a software company headquartered in Seattle, occupies 18.11%, as its second biggest position. After decreasing its stake in the company by 3%, the fund owns 1,268,726 of its shares valued at $141.76 million.

Meanwhile, the fund made an investment in Ellie Mae Inc (NYSE:ELLI), a software company that processes U.S. mortgage applications, buying 479,917 shares that were valued at $45.48 million on September 30.  In addition, it’s the only position in the portfolio the fund decided to boost (by 1%).

HMI Capital did seemingly start to lose faith in most of the companies in its portfolio during Q3 — it decreased its holdings in 7, out of a total of 9 companies. The most significant cuts are recorded in Autodesk Inc (NASDAQ:ADSK), a design software and services company, and Summit Midstream Partners Lp (NYSE:SMLP) a company focused on owning, developing, and operating midstream energy infrastructure assets, in which the fund decreased its stakes by 26% and 25%, respectively. As of September 30, the fund owns 554,220 shares of Autodesk Inc (NASDAQ:ADSK) worth $86.51, and 4,076,087 shares of Summit Midstream Partners Lp (NYSE:SMLP) valued at $58.28 million.

Disclosure: None. This article was originally published at Insider Monkey.