Managers / Q1 2021 · view latest →
Hidden Lake Asset Management LP
CIK 0001750312 · 152 W 57TH STREET, SUITE 920, NEW YORK, NY, 10019 · 212-237-1290
Summary
Hidden Lake Asset Management LP reported $256M in U.S.-listed holdings across 19 positions for Q1 2021.
Its largest position, AFRM, represents 8.5% of the portfolio.
Compared with Q4 2020, the fund opened 13 new positions and exited 14.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 48.6% · $124M
- ADR · 27.0% · $69M
- Other · 24.4% · $62M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| AFRMAffirm Holdings Inc | NEW | +407.0K | 407.0K | +$29M | $29M |
| SESea Ltd | NEW | +112.8K | 112.8K | +$28M | $28M |
| Yatsen Holding Ltd | NEW | +1.95M | 1.95M | +$20M | $20M |
| PDDPinduoduo Inc | NEW | +140.2K | 140.2K | +$19M | $19M |
| AMZNAmazon.com Inc | NEW | +5.3K | 5.3K | +$18M | $18M |
| CZRCaesars Entertainment Inc | NEW | +145.3K | 145.3K | +$14M | $14M |
| TPG Pace Beneficial Finance Corp. | NEW | +808.8K | 808.8K | +$14M | $14M |
| ROKURoku Inc | NEW | +36.8K | 36.8K | +$13M | $13M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2021
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | AFRMAffirm Holdings Inchistory → | Equity | 8.47% | $22M | 307.0K |
| 2 | Yatsen Holding Ltd | Equity | 7.96% | $20M | 1.95M |
| 3 | ZZillow Group Inchistory → | Equity | 7.42% | $19M | 145.7K |
| 4 | PDDPinduoduo Inchistory → | Equity | 7.35% | $19M | 140.2K |
| 5 | AMZNAmazon.com Inchistory → | Equity | 7.14% | $18M | 5.3K |
| 6 | OUTFRONT Media Inc | Equity | 6.95% | $18M | 728.6K |
| 7 | SESea Ltdhistory → | Equity | 6.20% | $16M | 62.8K |
| 8 | CZRCaesars Entertainment Inchistory → | Equity | 5.56% | $14M | 145.3K |
| 9 | TPG Pace Beneficial Finance Corp. | Equity | 5.31% | $14M | 808.8K |
| 10 | ROKURoku Inchistory → | Equity | 4.94% | $13M | 36.8K |
| 11 | WWayfair Inchistory → | Equity | 4.64% | $12M | 40.1K |
| 12 | New Oriental Education & Technolo | Equity | 4.18% | $11M | 700.3K |
| 13 | HUBSHubSpot Inchistory → | Equity | 4.15% | $11M | 20.2K |
| 14 | Z Holdings Corp | Equity | 3.70% | $9M | 1.03M |
| 15 | CDLXEURCardlytics Inchistory → | Equity | 3.56% | $9M | 66.1K |
| 16 | RLXRLX Technology Inchistory → | Equity | 2.64% | $7M | 620.2K |
| 17 | JOYYJOYY Inchistory → | Equity | 2.13% | $5M | 57.3K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $331M | 28 | May 14, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $395M | 33 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $782M | 42 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $367M | 37 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $155M | 28 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $222M | 33 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $182M | 28 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $129M | 28 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $165M | 23 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $133M | 20 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $84M | 8 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $69M | 9 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $143M | 16 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $234M | 23 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $207M | 24 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $561M | 28 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $293M | 21 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $195M | 15 | Feb 11, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $379M | 19 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $311M | 25 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $256M | 19 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $255M | 19 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $156M | 20 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $187M | 22 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $63M | 11 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $63M | 13 | Feb 18, 2020 | RESTATEMENT | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.