ShawSpring Partners

Q3 2019 13F · by Dennis Hong, portfolio manager

As of: Sep 30, 2019
Filed: Nov 13, 2019
US stock: $153M · prev $171M
Positions: 5 · prev 5
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves5 since the prior filing

+14.0 pp in · −14.0 pp out

New 0 0.00 pp
Added 3 +14.02 pp
Trimmed 2 −14.00 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 5 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 66% a year, about 1.5 years per position

Low
Moderate
High

Top 5 positions100% of US stock

SE Sea Limited added+3.13 pp added+3.1328.8%
CVNA Carvana Co. trimmed−1.68 pp trimmed−1.6826.1%
ANGI Angi Inc. Class A added+9.76 pp added+9.7619.3%
IACI Iac / Interactivecorp (De) Com Stk trimmed−12.32 pp trimmed−12.3214.8%
JD JD.com, Inc. added+1.13 pp added+1.1311.1%

Positions5 in this filing · 0 exited


SESea Limited	28.77%	1,423,426	$44M	added+8%	+3.13 pp	3 q
CVNACarvana Co.	26.08%	605,005	$40M	trimmed−20%	−1.68 pp	4 q
ANGIAngi Inc. Class A	19.32%	4,175,404	$30M	added×3.3	+9.76 pp	2 q
IACIIac / Interactivecorp (De) Com Stk	14.78%	103,814	$23M	trimmed−51%	−12.32 pp	4 q
JDJD.com, Inc.	11.06%	600,383	$17M	added+7%	+1.13 pp	4 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001085146-19-002884
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet