SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Hidden Lake Asset Management LP

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

Reported Value
$143M
Q1 2023
Positions
16
Filings on Record
28
2019–present window
Filed
May 15, 2023
original filing

Summary

Hidden Lake Asset Management LP reported $143M in U.S.-listed holdings across 16 positions for Q1 2023.

Its largest position, Kanzhun Limited, represents 13.6% of the portfolio.

Compared with Q4 2022, the fund opened 7 new positions and exited 15.

Portfolio Metrics

Turnover
+61.6%
vs prior filed quarter
Top-10 Concentration
+70.9%
share of reported value
Largest Position
+13.6%
Kanzhun Limited
New / Exited
7 / 15
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
ADR: 54.2%Common Stock: 21.4%ETP: 14.4%Other: 10.1%
  • ADR · 54.2% · $78M
  • Common Stock · 21.4% · $31M
  • ETP · 14.4% · $21M
  • Other · 10.1% · $14M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
USOUNITED STS OIL FD LPNEW+310.0K310.0K+$21M$21M
YMMFULL TRUCK ALLIANCE CO LTDNEW+1.85M1.85M+$14M$14M
NU HLDGS LTDNEW+2.57M2.57M+$12M$12M
SIXEURSIX FLAGS ENTMT CORP NEWNEW+290.3K290.3K+$8M$8M
OLEDUNIVERSAL DISPLAY CORPNEW+43.9K43.9K+$7M$7M
SSTKSHUTTERSTOCK INCNEW+82.7K82.7K+$6M$6M
ACVAACV AUCTIONS INCNEW+320.8K320.8K+$4M$4M
PDDPDD HOLDINGS INCADDED+202.7K219.0K+$15M$17M

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

Holdings — Q1 2023

14 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1KANZHUN LIMITEDSPONSORED ADS13.62%$19M1.02M
2PDDPDD HOLDINGS INChistory →SPONSORED ADS11.61%$17M219.0K
3YMMFULL TRUCK ALLIANCE CO LTDhistory →SPONSORED ADS9.84%$14M1.85M
4FUTUFUTU HLDGS LTDhistory →SPON ADS CL A6.01%$9M165.8K
5SESEA LTDhistory →SPONSORD ADS5.61%$8M92.8K
6NU HLDGS LTDORD SHS CL A5.55%$8M1.67M
7SIXEURSIX FLAGS ENTMT CORP NEWhistory →COM5.42%$8M290.3K
8OLEDUNIVERSAL DISPLAY CORPhistory →COM4.76%$7M43.9K
9BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS4.26%$6M59.7K
10SSTKSHUTTERSTOCK INChistory →COM4.20%$6M82.7K
11MLB1MERCADOLIBRE INChistory →COM4.10%$6M4.5K
12GSXGBPGAOTU TECHEDU INChistory →SPONSORED ADS3.20%$5M1.09M
13ACVAACV AUCTIONS INChistory →COM CL A2.89%$4M320.8K
14GLOBAL E ONLINE LTDSHS1.54%$2M68.6K

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 ↗.