ShawSpring Partners

Q3 2020 13F · by Dennis Hong, portfolio manager

As of: Sep 30, 2020
Filed: Nov 13, 2020
US stock: $492M · prev $446M
Positions: 5 · prev 6
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%

Moves8 since the prior filing

+50.1 pp in · −50.0 pp out

New 2 +37.62 pp
Added 1 +12.43 pp
Trimmed 2 −2.78 pp
Exited 3 −47.26 pp

The book

Very concentrated · behaves like 4 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 170% a year, about 0.6 years per position

Low
Moderate
High

Top 5 positions100% of US stock

SE Sea Limited added+12.43 pp added+12.4337.7%
unresolved Iac/Interactivecorp new+20.10 pp new+20.1020.1%
XYZ Block, Inc. trimmed−0.56 pp trimmed−0.5618.6%
MTCH Match Group, Inc new+17.52 pp new+17.5217.5%
ANGI Angi Inc. Class A trimmed−2.22 pp trimmed−2.226.1%

Positions5 in this filing · 3 exited


SESea Limited	37.67%	1,203,402	$185M	added+15%	+12.43 pp	7 q
unresolvedIac/Interactivecorp	20.10%	825,763	$99M	new	+20.10 pp	new
XYZBlock, Inc.	18.60%	563,099	$92M	trimmed−31%	−0.56 pp	2 q
MTCHMatch Group, Inc	17.52%	779,110	$86M	new	+17.52 pp	new
ANGIAngi Inc. Class A	6.12%	2,713,083	$30M	trimmed−11%	−2.22 pp	6 q
IACIIac / Interactivecorp (De) Com Stk	—	−410,958	—	exited	−29.77 pp	—
JDJD.com, Inc.	—	−844,108	—	exited	−11.38 pp	—
CVNACarvana Co.	—	−227,057	—	exited	−6.11 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001085146-20-002934
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet