SEC 13F Intelligence

Managers / Q1 2025 · view latest →

Hidden Lake Asset Management LP

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

Reported Value
$155M
Q1 2025
Positions
28
Filings on Record
28
2019–present window
Filed
May 15, 2025
original filing

Summary

Hidden Lake Asset Management LP reported $155M in U.S.-listed holdings across 28 positions for Q1 2025.

Its largest position, SE, represents 9.7% of the portfolio.

Compared with Q4 2024, the fund opened 12 new positions and exited 16.

Portfolio Metrics

Turnover
+34.3%
vs prior filed quarter
Top-10 Concentration
+46.2%
share of reported value
Largest Position
+9.7%
Sea
New / Exited
12 / 16
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
Common Stock: 44.1%ETP: 27.3%ADR: 22.3%Other: 6.3%
  • Common Stock · 44.1% · $68M
  • ETP · 27.3% · $42M
  • ADR · 22.3% · $34M
  • Other · 6.3% · $10M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NU HLDGS LTDNEW+957.7K957.7K+$10M$10M
SNOWSNOWFLAKE INCNEW+56.1K56.1K+$8M$8M
UUNITY SOFTWARE INCNEW+391.5K391.5K+$8M$8M
RBLXROBLOX CORPNEW+121.9K121.9K+$7M$7M
DKNGDRAFTKINGS INC NEWNEW+179.2K179.2K+$6M$6M
MUMICRON TECHNOLOGY INCNEW+59.5K59.5K+$5M$5M
BIDUNBAIDU INCNEW+47.5K47.5K+$4M$4M
ADIANALOG DEVICES INCNEW+12.3K12.3K+$2M$2M

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

Holdings — Q1 2025

25 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SESEA LTDhistory →SPONSORD ADS9.69%$15M114.8K
2SNOWSNOWFLAKE INChistory →CL A5.30%$8M56.1K
3UUNITY SOFTWARE INChistory →COM4.96%$8M391.5K
4RBLXROBLOX CORPhistory →CL A4.59%$7M121.9K
58QRCONFLUENT INChistory →CLASS A COM4.48%$7M295.7K
6DKNGDRAFTKINGS INC NEWhistory →COM CL A3.85%$6M179.2K
7JDJD.COM INChistory →SPON ADS CL A3.76%$6M141.4K
8MUMICRON TECHNOLOGY INChistory →COM3.35%$5M59.5K
9GTLBGITLAB INChistory →CLASS A COM3.20%$5M105.3K
10AVBPARRIVENT BIOPHARMA INChistory →COM3.04%$5M254.4K
11CORZCORE SCIENTIFIC INC NEWhistory →COM2.52%$4M538.4K
12HUTHUT 8 CORPhistory →COM2.13%$3M282.8K
13NU HLDGS LTDORD SHS CL A2.04%$3M307.7K
14TSMTAIWAN SEMICONDUCTOR MFG LTDhistory →SPONSORED ADS1.78%$3M16.5K
15ADIANALOG DEVICES INChistory →COM1.60%$2M12.3K
16GDSGDS HLDGS LTDhistory →SPONSORED ADS1.38%$2M84.1K
17EQTEQT CORPhistory →COM1.23%$2M35.7K
18FUTUFUTU HLDGS LTDhistory →SPON ADS CL A1.10%$2M16.6K
19AFRMAFFIRM HLDGS INCCOM CL A0.97%$1M33.1K
20TALTAL EDUCATION GROUPSPONSORED ADS0.94%$1M110.0K
21KPLTKATAPULT HOLDINGS INCCOM NEW0.82%$1M123.6K
22UPSTUPSTART HLDGS INCCOM0.81%$1M27.1K
23APIAGORA INCADS0.80%$1M307.3K
24HOODROBINHOOD MKTS INCCOM CL A0.72%$1M26.9K
25WULFTERAWULF INCCOM0.54%$831,419304.5K

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 ↗.