SEC 13F Intelligence

Managers / Q4 2022 · view latest →

Hidden Lake Asset Management LP

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

Reported Value
$234M
Q4 2022
Positions
23
Filings on Record
28
2019–present window
Filed
Feb 14, 2023
original filing

Summary

Hidden Lake Asset Management LP reported $234M in U.S.-listed holdings across 23 positions for Q4 2022.

Its largest position, VNET, represents 4.1% of the portfolio.

Compared with Q3 2022, the fund opened 13 new positions and exited 14.

Portfolio Metrics

Turnover
+58.8%
vs prior filed quarter
Top-10 Concentration
+23.4%
share of reported value
Largest Position
+4.1%
Vnet
New / Exited
13 / 14
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
Other: 69.6%ADR: 19.4%Common Stock: 11.1%
  • Other · 69.6% · $163M
  • ADR · 19.4% · $45M
  • Common Stock · 11.1% · $26M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+700.0K700.0K+$74M$74M
VNETVNET GROUP INCNEW+1.70M1.70M+$10M$10M
IQIQIYI INCNEW+1.16M1.16M+$6M$6M
LYVLIVE NATION ENTERTAINMENT INNEW+82.8K82.8K+$6M$6M
IQIYI INCNEW+900.0K900.0K+$5M$5M
KANZHUN LIMITEDNEW+221.2K221.2K+$5M$5M
GSXGBPGAOTU TECHEDU INCNEW+1.34M1.34M+$3M$3M
GLOBAL E ONLINE LTDNEW+151.7K151.7K+$3M$3M

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

Holdings — Q4 2022

18 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VNETVNET GROUP INChistory →SPONSORED ADS A4.12%$10M1.70M
2BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS3.25%$8M86.3K
3APIAGORA INChistory →ADS2.78%$7M1.66M
4IQIQIYI INChistory →SPONSORED ADS2.64%$6M1.16M
5LYVLIVE NATION ENTERTAINMENT INhistory →COM2.47%$6M82.8K
6KANZHUN LIMITEDSPONSORED ADS1.93%$5M221.2K
7PYPLPAYPAL HLDGS INChistory →COM1.80%$4M59.1K
8SESEA LTDhistory →SPONSORD ADS1.63%$4M73.3K
9MLB1MERCADOLIBRE INChistory →COM1.43%$3M3.9K
10GSXGBPGAOTU TECHEDU INChistory →SPONSORED ADS1.35%$3M1.34M
11GLOBAL E ONLINE LTDSHS1.34%$3M151.7K
12CUCAAVIS BUDGET GROUPhistory →COM1.21%$3M17.3K
13NETCLOUDFLARE INChistory →CL A COM1.16%$3M59.7K
14BILLBILL COM HLDGS INChistory →COM1.10%$3M23.6K
15FUTUFUTU HLDGS LTDhistory →SPON ADS CL A1.09%$3M62.6K
16AFRMAFFIRM HLDGS INChistory →COM CL A1.02%$2M245.7K
17DOCNDIGITALOCEAN HLDGS INCCOM0.88%$2M80.8K
18PDDPINDUODUO INCSPONSORED ADS0.57%$1M16.3K

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 ↗.