Dennis Hong - ShawSpring Partners 13F Activity & Position Changes (Q1 2025)

According to the SEC 13F filed on May 15, 2025, the ShawSpring Partners portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2025, the filing reported:

New Buys - Vertex, Inc.

Increases - Blend Labs, Inc., Braze, Inc., CoStar Group, Inc., Intuit Inc., nCino, Inc., and 1 more

Reductions - Shift4 Payments, Inc., Hilton Worldwide Holdings Inc., Monday.com

Complete Exits - IAC Inc., Sea Limited

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2025	BLND Blend Labs, Inc.	Blend Labs, Inc.	Buy	+1,831,874	+25.9%	$29.85M	8,911,039
Q1 2025	BRZE Braze, Inc.	Braze, Inc.	Buy	+872,973	+58.2%	$85.63M	2,373,386
Q1 2025	CSGP CoStar Group, Inc.	CoStar Group, Inc.	Buy	+238,499	+26.2%	$90.98M	1,148,302
Q1 2025	FOUR Shift4 Payments, Inc.	Shift4 Payments, Inc.	Sell	-70,874	-7.3%	$73.45M	898,874
Q1 2025	HLT Hilton Worldwide Holdings Inc.	Hilton Worldwide Holdings Inc.	Sell	-134,825	-42.9%	$40.87M	179,612
Q1 2025	IAC IAC Inc.	IAC Inc.	Sell - Position Exit	-1,490,081	-100.0%	$0.00	-
Q1 2025	INTU Intuit Inc.	Intuit Inc.	Buy	+81,208	+94.7%	$102.50M	166,936
Q1 2025	MNDY Monday.com	Monday.com	Sell	-1	-0.0%	$92.09M	378,711
Q1 2025	NCNO nCino, Inc.	nCino, Inc.	Buy	+1,023,062	+38.9%	$100.32M	3,651,918
Q1 2025	PCOR Procore Technologies, Inc.	Procore Technologies, Inc.	Buy	+240,132	+20.1%	$94.89M	1,437,331
Q1 2025	SE Sea Limited	Sea Limited	Sell - Position Exit	-315,538	-100.0%	$0.00	-
Q1 2025	VERX Vertex, Inc.	Vertex, Inc.	Buy - Position Entry	+490,162	-	$17.16M	490,162