HMI Capital Management, L.P.: TRADEWEB MKTS (TW): Quarterly 13F Position History
As of Q1 2026, HMI Capital Management, L.P. reported 463,700 shares of TRADEWEB MKTS (TW), worth $54.6M and representing 7.2% of its 13F equity book. Quarter-over-quarter share count change: 68,300 (-12.8%) . The position first appeared in Q3 2025 and has been disclosed across 3 13F-HR filings in Pactolio's tracked window.
- 463,700Shares Held (Latest Filing)
- $54.6MReported Market Value (Latest Filing)
- 7.2%Portfolio Weight (% of 13F Equity Book)
- 68,300Quarter-over-Quarter Share Change
- -$2.7MQuarter-over-Quarter Value Change
- 532,000Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 3 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 463,700 | 68,300 | -12.8% | $54.6M | 7.2% | $117.7 |
| Q4 2025 | 532,000 | +93,500 | +21.3% | $57.2M | 4.7% | $107.5 |
| Q3 2025 | 438,500 | — | — | $48.7M | 2.8% | $111.0 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did HMI Capital Management, L.P. first disclose a TW position in 13F-HR filings?
HMI Capital Management, L.P. first reported TRADEWEB MKTS (TW) on its 13F-HR filing for the period ending 2025-09-30 (Q3 2025). The position has appeared on 3 reported quarters within Pactolio's tracked window.
What was HMI Capital Management, L.P.'s most recent quarter-over-quarter share-count change in TW?
Between Q4 2025 and Q1 2026, HMI Capital Management, L.P. reduced its TW position by 68,300 shares (-12.8%), leaving 463,700 shares at a market value of $54.6M.
Does the implied price-per-share represent HMI Capital Management, L.P.'s cost basis in TW?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.