Dennis Hong's Tech-Focused Portfolio Shows Growth in Strategic Holdings
Dennis Hong of ShawSpring Partners' portfolio, as of March 31, 2026, shows strong concentration in technology and consumer cyclical sectors, with notable changes in specific holdings.
Introduction
As of March 31, 2026, Dennis Hong's portfolio at ShawSpring Partners is characterized by a significant tilt towards technology and consumer cyclical sectors. The analysis reveals a concentrated portfolio with substantial holdings in leading tech companies and e-commerce players, reflecting a strategy focused on high-growth areas. The top holdings by value demonstrate the investor's preference for established tech firms and emerging digital platforms.
Top Holdings Analysis
The portfolio's largest position is in Okta (OKTA), accounting for 16.62% of the total value. This is followed by Amazon (AMZN) at 14.51% and Alibaba (BABA) at 13.61%. Other significant holdings include Zscaler (ZS) at 10.51%, Braze (BRZE) at 9.81%, and Intuit (INTU) at 6.61%. These top ten holdings represent a core group that drives the portfolio's performance, with Okta, Amazon, and Alibaba forming the largest cluster.
Recent changes in these holdings are noteworthy. Zscaler (ZS) saw a dramatic 100% increase in shares, indicating strong conviction in this cybersecurity platform. Conversely, holdings like Okta (-36.04%) and Braze (-24.5%) have decreased significantly, suggesting a dynamic approach to portfolio management. Other notable changes include Alibaba (-23.24%) and several smaller positions showing substantial reductions or increases.
Sector Concentration
The portfolio exhibits a clear bias towards technology, with Okta, Zscaler, Braze, and Intuit all falling within this sector. Collectively, technology holdings represent approximately 57.55% of the portfolio's value. Consumer cyclical sectors also show significant allocation, with Amazon, Alibaba, and Coupa (CPNG) making up about 34.31% of the portfolio. This leaves Real Estate (Costar - CSGP) and Communication Services (Liberty Media - FWONK) with smaller allocations of 5.11% and 6.45% respectively.
Investment Strategy and Outlook
Dennis Hong's investment strategy appears to favor companies driving digital transformation and e-commerce growth. The heavy weighting in software-as-a-service (SaaS) providers like Okta, Zscaler, and Braze, alongside major e-commerce players like Amazon and Alibaba, suggests confidence in the ongoing shift towards digital platforms. The portfolio's structure, with a few large positions complemented by several significant secondary holdings, indicates a blend of conviction bets and diversification within favored sectors.
The changes in holdings observed in the period ending March 31, 2026, suggest an active management style. The significant increase in Zscaler positions, coupled with reductions in several other large holdings, points to ongoing adjustments based on company-specific developments, valuation, or strategic shifts. This active management approach aims to capture performance while managing concentration levels.