SEC 13F Intelligence

Managers / Q2 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
$367M
Q2 2025
Positions
37
Filings on Record
28
2019–present window
Filed
Aug 14, 2025
original filing

Summary

Hidden Lake Asset Management LP reported $367M in U.S.-listed holdings across 37 positions for Q2 2025.

Its largest position, RDDT, represents 4.8% of the portfolio.

Compared with Q1 2025, the fund opened 16 new positions and exited 13.

Portfolio Metrics

Turnover
+21.6%
vs prior filed quarter
Top-10 Concentration
+35.0%
share of reported value
Largest Position
+4.8%
Reddit
New / Exited
16 / 13
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: 60.6%ETP: 29.9%ADR: 8.0%Other: 1.5%
  • Common Stock · 60.6% · $223M
  • ETP · 29.9% · $110M
  • ADR · 8.0% · $30M
  • Other · 1.5% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+330.0K330.0K+$71M$71M
RDDTREDDIT INCNEW+186.1K186.1K+$28M$28M
LMNDLEMONADE INCNEW+326.1K326.1K+$14M$14M
FSLRFIRST SOLAR INCNEW+68.9K68.9K+$11M$11M
RIOTRIOT PLATFORMS INCNEW+972.2K972.2K+$11M$11M
ARMARM HOLDINGS PLCNEW+46.6K46.6K+$8M$8M
6RJ0ROCKET LAB CORPNEW+197.8K197.8K+$7M$7M
MSFTMICROSOFT CORPNEW+12.0K12.0K+$6M$6M

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

Holdings — Q2 2025

28 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RDDTREDDIT INChistory →CL A4.76%$17M116.0K
2AFRMAFFIRM HLDGS INChistory →COM CL A4.12%$15M219.0K
3SESEA LTDhistory →SPONSORD ADS3.90%$14M89.7K
48QRCONFLUENT INChistory →CLASS A COM3.85%$14M567.7K
5RBLXROBLOX CORPhistory →CL A3.73%$14M130.1K
6AVBPARRIVENT BIOPHARMA INChistory →COM3.60%$13M606.9K
7UPSTUPSTART HLDGS INChistory →COM3.30%$12M187.3K
8MUMICRON TECHNOLOGY INChistory →COM3.03%$11M90.2K
9LMNDLEMONADE INChistory →COM2.52%$9M211.1K
10FSLRFIRST SOLAR INChistory →COM2.20%$8M48.9K
11ARMARM HOLDINGS PLChistory →SPONSORED ADS2.05%$8M46.6K
12CORZCORE SCIENTIFIC INC NEWhistory →COM2.02%$7M434.6K
13SNOWSNOWFLAKE INChistory →CL A2.01%$7M33.1K
14MSFTMICROSOFT CORPhistory →COM1.63%$6M12.0K
15RIOTRIOT PLATFORMS INChistory →COM1.58%$6M512.2K
16GDSGDS HLDGS LTDhistory →SPONSORED ADS1.47%$5M176.7K
17COINCOINBASE GLOBAL INChistory →COM CL A1.37%$5M14.4K
18EQTEQT CORPhistory →COM1.30%$5M82.0K
19IREN LIMITEDORDINARY SHARES1.15%$4M291.1K
20WWAYFAIR INChistory →CL A1.04%$4M74.5K
21AMDADVANCED MICRO DEVICES INCCOM0.97%$4M25.0K
22HOODROBINHOOD MKTS INCCOM CL A0.94%$3M36.7K
23TEMTEMPUS AI INCCL A0.66%$2M38.4K
24TSMTAIWAN SEMICONDUCTOR MFG LTDSPONSORED ADS0.61%$2M10.0K
256RJ0ROCKET LAB CORPCOM0.47%$2M47.8K
26NVDANVIDIA CORPORATIONCOM0.42%$2M9.8K
27TRUPTRUPANION INCCOM0.39%$1M26.1K
28HCM II ACQUISITION CORPSHS CL A0.30%$1M99.4K

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 ↗.