Dennis Hong – ShawSpring Partners Portfolio Activity & Recent Trades (Sep 30, 2025)

As of Sep 30, 2025, the ShawSpring Partners portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 13, 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 Q3 2025, the filing reported:

New Buys – Liberty Media Corporation - Ser

Increases – Blend Labs, Inc., Shift4 Payments, Inc., Monday.com, Okta, Inc., Vertex, Inc.

Reductions – Braze, Inc., CoStar Group, Inc., Intuit Inc., nCino, Inc., Procore Technologies, Inc.

Complete Exits –

None reported

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
Q3 2025	BLND Blend Labs, Inc.	Blend Labs, Inc.	Buy	+929,566	+10.4%	$35.92M	9,840,605
Q3 2025	BRZE Braze, Inc.	Braze, Inc.	Sell	-671,356	-26.6%	$52.56M	1,848,244
Q3 2025	CSGP CoStar Group, Inc.	CoStar Group, Inc.	Sell	-460,026	-33.9%	$75.60M	896,034
Q3 2025	FOUR Shift4 Payments, Inc.	Shift4 Payments, Inc.	Buy	+472,652	+60.7%	$96.86M	1,251,374
Q3 2025	FWONK Liberty Media Corporation - Ser	Liberty Media Corporation - Ser	Buy - Position Entry	+217,523	-	$22.72M	217,523
Q3 2025	INTU Intuit Inc.	Intuit Inc.	Sell	-24,454	-17.6%	$78.10M	114,369
Q3 2025	MNDY Monday.com	Monday.com	Buy	+93,009	+33.1%	$72.48M	374,221
Q3 2025	NCNO nCino, Inc.	nCino, Inc.	Sell	-1,334,107	-46.2%	$42.12M	1,553,659
Q3 2025	OKTA Okta, Inc.	Okta, Inc.	Buy	+36,193	+3.8%	$90.83M	990,486
Q3 2025	PCOR Procore Technologies, Inc.	Procore Technologies, Inc.	Sell	-483,700	-31.0%	$78.60M	1,077,913
Q3 2025	VERX Vertex, Inc.	Vertex, Inc.	Buy	+369,001	+51.8%	$26.81M	1,081,446
Q2 2025	BRZE Braze, Inc.	Braze, Inc.	Buy	+146,214	+6.2%	$70.80M	2,519,600
Q2 2025	CSGP CoStar Group, Inc.	CoStar Group, Inc.	Buy	+207,758	+18.1%	$109.03M	1,356,060
Q2 2025	FOUR Shift4 Payments, Inc.	Shift4 Payments, Inc.	Sell	-120,152	-13.4%	$77.18M	778,722
Q2 2025	HLT Hilton Worldwide Holdings Inc.	Hilton Worldwide Holdings Inc.	Sell - Position Exit	-179,612	-100.0%	$0.00	-
Q2 2025	INTU Intuit Inc.	Intuit Inc.	Sell	-28,113	-16.8%	$109.34M	138,823
Q2 2025	MNDY Monday.com	Monday.com	Sell	-97,499	-25.7%	$88.44M	281,212
Q2 2025	NCNO nCino, Inc.	nCino, Inc.	Sell	-764,152	-20.9%	$80.77M	2,887,766
Q2 2025	OKTA Okta, Inc.	Okta, Inc.	Buy - Position Entry	+954,293	-	$95.40M	954,293
Q2 2025	PCOR Procore Technologies, Inc.	Procore Technologies, Inc.	Buy	+124,282	+8.6%	$106.85M	1,561,613
Q2 2025	VERX Vertex, Inc.	Vertex, Inc.	Buy	+222,283	+45.3%	$25.17M	712,445
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