Estimated return — disclosed long book
What ShawSpring Partners LLC’s US-listed long positions did, derived from the share counts and market values in consecutive 13F filings, shown against SPY over exactly the same quarters. This is not the fund’s return. A 13F excludes shorts, bonds, cash, non-US listings and derivatives, says nothing about fees or leverage, and only sees positions held at both quarter ends. The fund figure is a price return while SPY is a total return, so the comparison is tilted against the manager by roughly a dividend yield.
Q2 2026
+11.3%
SPY +15.1%▼ -3.8%alpha
2026 YTD(2Q so far)
-13.1%
SPY +10.1%▼ -23.2%alpha
By calendar year
| Year | Estimated | SPY | Alpha |
|---|---|---|---|
| 2025 | -17.9% | +17.7% | -35.6% |
| 2024 | +41.1% | +24.9% | +16.2% |
| 2023 | +21.9% | +26.2% | -4.3% |
| 20222/4 Q | -16.8% | +2.3% | -19.1% |
| 20213/4 Q | -15.4% | +18.8% | -34.2% |
| 20203/4 Q | +151.9% | +8.5% | +143.3% |
| 2019 | +66.3% | +31.2% | +35.1% |
Years marked n/4 Qare built from fewer than four quarters, and the benchmark shown beside them covers the same partial set — so the alpha is like-for-like, but the year is not a full year.