WallStSmart

Dennis Hong - ShawSpring Partners

ShawSpring Partners

Latest 13F filing
Q4 2025
filed Feb 13, 2026
Portfolio value
$531.11M
Positions
11
Top 10 concentration
94.9%
QoQ change
-21.0%
$-141.49M
Activity vs. Q3 2025
2
New positions
2
Added to
0
Unchanged
7
Reduced
6
Exited

Portfolio composition — Q4 2025

  • OKTAOKTA INC14.4%
  • FOURSHIFT4 PMTS INC13.6%
  • CSGPCOSTAR GROUP INC12.1%
  • BABAALIBABA GROUP HLDG LTD10.4%
  • BRZEBRAZE INC9.5%
  • PCORPROCORE TECHNOLOGIES INC9.3%
  • MNDYMONDAY COM LTD7.1%
  • FWONKLIBERTY MEDIA CORP DEL6.9%
  • INTUINTUIT6.3%
  • BLNDBLEND LABS INC5.2%
  • Other1 more positions5.1%

Top buys

New & added positions, by size

  • CSGPADD
    COSTAR GROUP INC
    $64.39M
    +6.9%
  • BABANEW
    ALIBABA GROUP HLDG LTD
    $55.43M
    NEW
  • LIBERTY MEDIA CORP DEL
    $36.63M
    +70.9%
  • AMZNNEW
    AMAZON COM INC
    $27.34M
    NEW

Top sells

Reduced & exited positions, biggest cuts first

  • NCNOEXIT
    NCINO INC
    -100.0%
    Exited
  • VERXEXIT
    VERTEX INC
    -100.0%
    Exited
  • HLTEXIT
    HILTON WORLDWIDE HLDGS INC
    -100.0%
    Exited
  • SEEXIT
    SEA LTD
    -100.0%
    Exited
  • CPNGEXIT
    COUPANG INC
    -100.0%
    Exited

Holdings as of Q4 2025

#TickerIssuerSharesValue% PortfolioReported priceActionΔ Shares
1OKTAOKTA INC883,441$76.39M14.38%$86.47REDUCE-10.8%
2FOURSHIFT4 PMTS INC1,148,861$72.34M13.62%$62.97REDUCE-8.2%
3CSGPCOSTAR GROUP INC957,557$64.39M12.12%$67.24ADD+6.9%
4BABAALIBABA GROUP HLDG LTD378,155$55.43M10.44%$146.58NEW
5BRZEBRAZE INC1,473,005$50.51M9.51%$34.29REDUCE-20.3%
6PCORPROCORE TECHNOLOGIES INC681,536$49.57M9.33%$72.74REDUCE-36.8%
7MNDYMONDAY COM LTD253,959$37.47M7.06%$147.56REDUCE-32.1%
8FWONKLIBERTY MEDIA CORP DEL371,829$36.63M6.90%$98.51ADD+70.9%
9INTUINTUIT50,721$33.60M6.33%$662.42REDUCE-55.7%
10BLNDBLEND LABS INC9,024,099$27.43M5.17%$3.04REDUCE-8.3%
11AMZNAMAZON COM INC118,438$27.34M5.15%$230.82NEW

Positions exited in Q4 2025

TickerIssuerPrior shares
NCNONCINO INC1,553,659
VERXVERTEX INC1,081,446
HLTHILTON WORLDWIDE HLDGS INC0
SESEA LTD0
CPNGCOUPANG INC0
IACIAC INC0

Source: SEC EDGAR 13F-HR filing Feb 13, 2026. Reported prices are derived from the filing's value-to-shares ratio (effectively the quarter-end mark). Filings are published with a 45-day delay. CIK 0001766908.