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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
+5.96%
1 Year Est. Return
-27.09%
3 Year Est. Return
-3.53%
5 Year Est. Return
-58.38%
10 Year Est. Return
–
AUM
$755M
AUM Growth
-$36.7M
Cap. Flow
-$70.4M
Cap. Flow %
-9.33%
Top 10 Hldgs %
96.05%
Holding
12
New
2
Increased
3
Reduced
6
Closed
1

Top Buys

Rank Stock Value
1
CSGP icon
CoStar Group
CSGP
+$68.7M
2
BRZE icon
Braze
BRZE
+$54.4M
3
MNDY icon
monday.com
MNDY
+$7.81M
4
HLT icon
Hilton Worldwide
HLT
+$6.12M
5
BLND icon
Blend Labs
BLND
+$1.93M

Top Sells

Rank Stock Value
1
CPNG icon
Coupang
CPNG
+$72.8M
2
SE icon
Sea Limited
SE
+$66M
3
FOUR icon
Shift4
FOUR
+$34.8M
4
PCOR icon
Procore
PCOR
+$17.1M
5
INTU icon
Intuit
INTU
+$13.6M

Sector Composition

Rank Sector Weight
1 Technology 68.13%
2 Consumer Discretionary 14.73%
3 Real Estate 8.63%
4 Communication Services 8.52%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FOUR icon
1
Shift4
FOUR
$3.78B
$101M 13.33%
969,748
-350,131
-27% -$34.8M
PCOR icon
2
Procore
PCOR
$9.65B
$89.7M 11.88%
1,197,199
-240,883
-17% -$17.1M
MNDY icon
3
monday.com
MNDY
$3.84B
$89.2M 11.81%
378,712
+28,182
+8% +$7.81M
NCNO icon
4
nCino
NCNO
$2.26B
$88.3M 11.69%
2,628,856
-24,831
-0.9% -$925K
HLT icon
5
Hilton Worldwide
HLT
$73.5B
$77.7M 10.29%
314,437
+25,017
+9% +$6.12M
CSGP icon
6
CoStar Group
CSGP
$13.1B
$65.1M 8.63%
+909,803
New +$68.7M
PPLI
7
People Inc
PPLI
$2.86B
$64.3M 8.52%
1,816,409
-109,523
-6% -$4.39M
BRZE icon
8
Braze
BRZE
$3.5B
$62.8M 8.32%
+1,500,413
New +$54.4M
INTU icon
9
Intuit
INTU
$100B
$53.9M 7.14%
85,728
-21,224
-20% -$13.6M
SE icon
10
Sea Limited
SE
$72B
$33.5M 4.43%
315,538
-627,641
-67% -$66M
BLND icon
11
Blend Labs
BLND
$360M
$29.8M 3.95%
7,079,165
+449,175
+7% +$1.93M
CPNG icon
12
Coupang
CPNG
$29.6B
– –
-2,963,346
Closed -$72.8M

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Dennis Hong's Q4 2024 Portfolio in Review

As of Q4 2024, Dennis Hong held 12 positions worth $755M, down 4.6% from $792M the previous quarter. Its ten largest holdings account for 96% of the portfolio.

Dennis Hong withdrew a net $70.4M in Q4 2024, closing 1 position and reducing 6 holdings. Its most notable exit was Coupang, an estimated $72.8M position sold in full.

By sector, the portfolio is most concentrated in Technology at 68% of assets, up from 60% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Dennis Hong opened a new position in CoStar Group worth $65.1M.

  • Dennis Hong's largest Q4 2024 buy was CoStar Group: 909,803 shares worth $65.1M.
  • Dennis Hong added most to monday.com in Q4 2024, an estimated $7.81M increase.
  • Dennis Hong's biggest Q4 2024 reduction was Sea Limited, cutting an estimated $66M.
  • Dennis Hong fully exited Coupang in Q4 2024, selling an estimated $72.8M.
  • Dennis Hong's ten largest holdings make up 96% of its $755M portfolio in Q4 2024.
  • Dennis Hong opened 2 new positions and closed 1 in Q4 2024.
  • Dennis Hong's portfolio value fell 4.6% quarter-over-quarter to $755M.

Based on ShawSpring Partners's 13F filing for Q4 2024, filed 13 Feb 2025.