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DH

Dennis Hong ShawSpring Partners

AUM $232M
1-Year Est. Return 27.09%
 

Dennis Hong is the founder of ShawSpring Partners, a concentrated investment firm focused on high-quality growth businesses, often in technology-enabled industries. The portfolio typically features a limited number of positions held with a multi-year horizon. Hong’s firm is followed by investors who track small, research-intensive growth managers.

This Fund
S&P 500
This Quarter Est. Return
+29.35%
1 Year Est. Return
-27.09%
3 Year Est. Return
-3.53%
5 Year Est. Return
-58.38%
10 Year Est. Return
–
AUM
$492M
AUM Growth
+$45.7M
Cap. Flow
-$69.3M
Cap. Flow %
-14.09%
Top 10 Hldgs %
100%
Holding
7
New
1
Increased
1
Reduced
3
Closed
2

Top Buys

Rank Stock Value
1
MTCH icon
Match Group
MTCH
+$82.5M
2
SE icon
Sea Limited
SE
+$20.6M

Top Sells

Rank Stock Value
1
PPLI
People Inc
PPLI
+$54M
2
JD icon
JD.com
JD
+$50.8M
3
XYZ
Block Inc
XYZ
+$35.6M
4
CVNA icon
Carvana
CVNA
+$27.3M
5
ANGI icon
Angi Inc
ANGI
+$4.82M

Sector Composition

Rank Sector Weight
1 Communication Services 43.73%
2 Consumer Discretionary 37.67%
3 Technology 18.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SE icon
1
Sea Limited
SE
$72B
$185M 37.67%
1,203,402
+152,738
+15% +$20.6M
PPLI
2
People Inc
PPLI
$2.86B
$98.9M 20.1%
1,512,927
-786,550
-34% -$54M
XYZ
3
Block Inc
XYZ
$49.4B
$91.5M 18.6%
563,099
-252,053
-31% -$35.6M
MTCH icon
4
Match Group
MTCH
$9.38B
$86.2M 17.52%
+779,110
New +$82.5M
ANGI icon
5
Angi Inc
ANGI
$200M
$30.1M 6.12%
271,308
-34,950
-11% -$4.82M
CVNA icon
6
Carvana
CVNA
$76.9B
– –
-1,135,285
Closed -$27.3M
JD icon
7
JD.com
JD
$39.7B
– –
-844,108
Closed -$50.8M

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Dennis Hong's Q3 2020 Portfolio in Review

As of Q3 2020, Dennis Hong held 7 positions worth $492M, up 10% from $446M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Dennis Hong withdrew a net $69.3M in Q3 2020, closing 2 positions and reducing 3 holdings. Its most notable exit was JD.com, an estimated $50.8M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 44% of assets, up from 38% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Dennis Hong opened a new position in Match Group worth $86.2M.

  • Dennis Hong's largest Q3 2020 buy was Match Group: 779,110 shares worth $86.2M.
  • Dennis Hong added most to Sea Limited in Q3 2020, an estimated $20.6M increase.
  • Dennis Hong's biggest Q3 2020 reduction was People Inc, cutting an estimated $54M.
  • Dennis Hong fully exited JD.com in Q3 2020, selling an estimated $50.8M.
  • Dennis Hong's ten largest holdings make up 100% of its $492M portfolio in Q3 2020.
  • Dennis Hong opened 1 new position and closed 2 in Q3 2020.
  • Dennis Hong's portfolio value rose 10% quarter-over-quarter to $492M.

Based on ShawSpring Partners's 13F filing for Q3 2020, filed 13 Nov 2020.