Notable Investors / Q1 2026
Dennis Hong’s Portfolio — ShawSpring Partners LLC
Founder & CIO, ShawSpring Partners
CIK 0001766908 · 171 NEWBURY STREET, SUITE 5, BOSTON, MA, 02116 · 6173104877
About Dennis Hong
Dennis Hong founded ShawSpring Partners to run a focused portfolio of 'reasonably priced compounders,' with widely circulated research letters — his Sea Limited thesis became one of the best-known fund write-ups of its era.
ShawSpring's 13F holds roughly ten global internet and commerce-infrastructure names, U.S.-listed portion only, with multi-year holding periods.
Portfolio data below is from ShawSpring Partners LLC’s SEC 13F filings. View the full filer page →
Summary
Shawspring Partners LLC reported $268M in U.S.-listed holdings across 12 positions for Q1 2026.
Its largest position, OKTA, represents 16.6% of the portfolio.
Compared with Q4 2025, the fund opened 4 new positions and exited 3.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 76.6% · $205M
- ADR · 16.9% · $45M
- Tracking Stk · 6.4% · $17M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ZSZSCALER INC | NEW | +200.4K | 200.4K | +$28M | $28M |
| CPNGCOUPANG INC | NEW | +906.3K | 906.3K | +$17M | $17M |
| GDSGDS HLDGS LTD | NEW | +221.8K | 221.8K | +$9M | $9M |
| CEGCONSTELLATION ENERGY CORP | NEW | +23.2K | 23.2K | +$6M | $6M |
| FOURSHIFT4 PMTS INC | SOLD OUT | −1.15M | 0 | −$72M | $0 |
| MONDAY COM LTD | SOLD OUT | −254.0K | 0 | −$37M | $0 |
| BLNDBLEND LABS INC | SOLD OUT | −9.02M | 0 | −$27M | $0 |
| PCORPROCORE TECHNOLOGIES INC | TRIMMED | −464.8K | 216.8K | −$37M | $12M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | OKTAOKTA INChistory → | CL A | 16.62% | $44M | 565.0K |
| 2 | AMZNAMAZON COM INChistory → | COM | 14.51% | $39M | 186.5K |
| 3 | BABAALIBABA GROUP HLDG LTDhistory → | SPONSORED ADS | 13.61% | $36M | 290.3K |
| 4 | ZSZSCALER INChistory → | COM | 10.51% | $28M | 200.4K |
| 5 | BRZEBRAZE INChistory → | COM CL A | 9.81% | $26M | 1.11M |
| 6 | INTUINTUIThistory → | COM | 6.61% | $18M | 40.9K |
| 7 | FWONKLIBERTY MEDIA CORP DELhistory → | COM LBTY ONE S C | 6.45% | $17M | 202.9K |
| 8 | CPNGCOUPANG INChistory → | CL A | 6.39% | $17M | 906.3K |
| 9 | CSGPCOSTAR GROUP INChistory → | COM | 5.11% | $14M | 339.1K |
| 10 | PCORPROCORE TECHNOLOGIES INChistory → | COM | 4.62% | $12M | 216.8K |
| 11 | GDSGDS HLDGS LTDhistory → | SPONSORED ADS | 3.34% | $9M | 221.8K |
| 12 | CEGCONSTELLATION ENERGY CORPhistory → | COM | 2.42% | $6M | 23.2K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $268M | 12 | May 14, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $531M | 11 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $673M | 11 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $792M | 10 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $728M | 10 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $755M | 11 | Feb 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $792M | 10 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $693M | 10 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $779M | 8 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $609M | 6 | Feb 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $597M | 6 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $734M | 6 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $759M | 7 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $630M | 7 | Feb 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $720M | 7 | Nov 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $565M | 6 | Aug 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $727M | 4 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $811M | 4 | Jan 31, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $959M | 5 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $1.1B | 6 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $802M | 5 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $708M | 5 | Feb 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $492M | 5 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $446M | 6 | Aug 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $283M | 5 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $250M | 5 | Feb 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $153M | 5 | Nov 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $171M | 5 | Aug 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $159M | 4 | May 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $97M | 3 | Feb 12, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.