SEC 13F Intelligence

Managers / Q3 2021 · view latest →

Hidden Lake Asset Management LP

CIK 0001750312 · 152 W 57TH STREET, SUITE 920, NEW YORK, NY, 10019 · 212-237-1290

Reported Value
$379M
Q3 2021
Positions
19
Filings on Record
28
2019–present window
Filed
Nov 15, 2021
original filing

Summary

Hidden Lake Asset Management LP reported $379M in U.S.-listed holdings across 19 positions for Q3 2021.

Its largest position, ZTO, represents 9.5% of the portfolio.

Compared with Q2 2021, the fund opened 9 new positions and exited 12.

Portfolio Metrics

Turnover
+59.1%
vs prior filed quarter
Top-10 Concentration
+45.2%
share of reported value
Largest Position
+9.5%
Zto Express Cayman
New / Exited
9 / 12
positions this quarter

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

13F Reported Value
Q4 ’19: $63MQ4 ’19Q1 ’20: $63MQ2 ’20: $187MQ3 ’20: $156MQ4 ’20: $255MQ4 ’20Q1 ’21: $256MQ2 ’21: $311MQ3 ’21: $379MQ4 ’21: $195MQ4 ’21Q1 ’22: $293MQ2 ’22: $561MQ3 ’22: $207MQ4 ’22: $234MQ4 ’22Q1 ’23: $143MQ2 ’23: $69MQ3 ’23: $84MQ4 ’23: $133MQ4 ’23Q1 ’24: $165MQ2 ’24: $129MQ3 ’24: $182MQ4 ’24: $222MQ4 ’24Q1 ’25: $155MQ2 ’25: $367MQ3 ’25: $782MQ4 ’25: $395MQ4 ’25Q1 ’26: $331Mfilingsflow.com

Portfolio Composition

By security type
ETP: 47.4%Common Stock: 33.3%ADR: 16.8%Other: 2.6%
  • ETP · 47.4% · $179M
  • Common Stock · 33.3% · $126M
  • ADR · 16.8% · $64M
  • Other · 2.6% · $10M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NDQInvesco QQQ Trust Series 1NEW+300.0K300.0K+$107M$107M
SPDR S&P 500 ETF TrustNEW+150.0K150.0K+$64M$64M
ZTOZTO Express (Cayman) IncNEW+1.18M1.18M+$36M$36M
MGNIMagnite IncNEW+761.6K761.6K+$21M$21M
CZRCaesars Entertainment IncNEW+164.7K164.7K+$18M$18M
OUTFRONT Media IncNEW+385.9K385.9K+$10M$10M
TWLOTwilio IncNEW+16.6K16.6K+$5M$5M
MIGAMicrostrategy IncNEW+8.5K8.5K+$5M$5M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2021

15 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ZTOZTO Express (Cayman) Inchistory →Equity9.52%$36M1.18M
2AFRMAffirm Holdings Inchistory →Equity6.30%$24M200.4K
3MGNIMagnite Inchistory →Equity5.63%$21M761.6K
4CARGCarGurus Inchistory →Equity4.99%$19M602.2K
5CZRCaesars Entertainment Inchistory →Equity4.88%$18M164.7K
6SESea Ltdhistory →Equity3.23%$12M38.4K
7HUBSHubSpot Inchistory →Equity2.71%$10M15.2K
8ROKURoku Inchistory →Equity2.68%$10M32.4K
9DASHDoorDash Inchistory →Equity2.66%$10M48.9K
10OUTFRONT Media IncEquity2.57%$10M385.9K
11PDDPinduoduo Inchistory →Equity2.40%$9M100.1K
12TWLOTwilio Inchistory →Equity1.40%$5M16.6K
13RLXRLX Technology Inchistory →Equity1.24%$5M1.04M
14ZMZoom Video Communications IncEquity0.74%$3M10.7K
15JMIAJumia Technologies AGEquity0.40%$2M81.2K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$331M28May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$395M33Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$782M42Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$367M37Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$155M28May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$222M33Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$182M28Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$129M28Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$165M23May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$133M20Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$84M8Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$69M9Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$143M16May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$234M23Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$207M24Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$561M28Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$293M21May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$195M15Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$379M19Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$311M25Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$256M19May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$255M19Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$156M20Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$187M22Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$63M11May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$63M13Feb 18, 2020RESTATEMENTchanges · 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 ↗.