SEC 13F Intelligence

Managers / Q3 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
$782M
Q3 2025
Positions
42
Filings on Record
28
2019–present window
Filed
Nov 14, 2025
original filing

Summary

Hidden Lake Asset Management LP reported $782M in U.S.-listed holdings across 42 positions for Q3 2025.

Its largest position, PDD, represents 2.0% of the portfolio.

Compared with Q2 2025, the fund opened 31 new positions and exited 21.

Portfolio Metrics

Turnover
+48.9%
vs prior filed quarter
Top-10 Concentration
+15.8%
share of reported value
Largest Position
+2.0%
Pdd
New / Exited
31 / 21
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: 62.8%Common Stock: 24.9%ADR: 7.3%Other: 5.1%
  • ETP · 62.8% · $491M
  • Common Stock · 24.9% · $194M
  • ADR · 7.3% · $57M
  • Other · 5.1% · $40M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AMZNAMAZON COM INCNEW+173.6K173.6K+$38M$38M
PDDPDD HOLDINGS INCNEW+120.8K120.8K+$16M$16M
CRWVCOREWEAVE INCNEW+108.2K108.2K+$15M$15M
WIX COM LTDNEW+77.3K77.3K+$14M$14M
AAPLAPPLE INCNEW+50.6K50.6K+$13M$13M
SPOTIFY TECHNOLOGY S ANEW+16.3K16.3K+$11M$11M
ARK ETF TRNEW+125.0K125.0K+$11M$11M
BEBLOOM ENERGY CORPNEW+120.9K120.9K+$10M$10M

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

Holdings — Q3 2025

37 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1PDDPDD HOLDINGS INChistory →SPONSORED ADS2.04%$16M120.8K
2CRWVCOREWEAVE INChistory →COM CL A1.89%$15M108.2K
3RBLXROBLOX CORPhistory →CL A1.79%$14M100.9K
4WIX COM LTDSHS1.76%$14M77.3K
5AAPLAPPLE INChistory →COM1.65%$13M50.6K
6SPOTIFY TECHNOLOGY S ASHS1.46%$11M16.3K
7SESEA LTDhistory →SPONSORD ADS1.45%$11M63.3K
8BEBLOOM ENERGY CORPhistory →COM CL A1.31%$10M120.9K
9CHWYCHEWY INChistory →CL A1.25%$10M241.4K
10DUOLDUOLINGO INChistory →CL A COM1.21%$9M29.5K
11GDSGDS HLDGS LTDhistory →SPONSORED ADS1.02%$8M205.5K
12DASHDOORDASH INCCL A0.98%$8M28.3K
13AMZNAMAZON COM INCCOM0.94%$7M33.6K
14GOOGALPHABET INCCAP STK CL C0.86%$7M27.6K
15NU HLDGS LTDORD SHS CL A0.84%$7M411.4K
16BIDUNBAIDU INCSPON ADR REP A0.80%$6M47.5K
17BABAALIBABA GROUP HLDG LTDSPONSORED ADS0.79%$6M34.6K
18ETSYETSY INCCOM0.79%$6M92.8K
19VNETVNET GROUP INCSPONSORED ADS A0.79%$6M594.9K
20AFRMAFFIRM HLDGS INCCOM CL A0.78%$6M83.2K
21AVBPARRIVENT BIOPHARMA INCCOM0.74%$6M314.0K
22APPAPPLOVIN CORPCOM CL A0.71%$6M7.7K
23MDBMONGODB INCCL A0.70%$5M17.7K
24PTONPELOTON INTERACTIVE INCCL A COM0.68%$5M594.1K
25HUTHUT 8 CORPCOM0.57%$4M127.5K
26ZZILLOW GROUP INCCL C CAP STK0.53%$4M53.6K
27ELASTIC N VORD SHS0.48%$4M44.6K
28GTLBGITLAB INCCLASS A COM0.48%$4M83.5K
29UUNITY SOFTWARE INCCOM0.48%$4M93.9K
30OPRAOPERA LTDSPONSORED ADS0.42%$3M158.4K
31UWMCUWM HOLDINGS CORPORATIONCOM CL A0.34%$3M440.8K
32RKTROCKET COS INCCOM CL A0.31%$2M126.2K
33WEBULL CORPORD SHS0.29%$2M154.4K
34TEMTEMPUS AI INCCL A0.24%$2M23.1K
35LMNDLEMONADE INCCOM0.23%$2M33.1K
36IREN LIMITEDORDINARY SHARES0.22%$2M37.3K
37OPENOPENDOOR TECHNOLOGIES INCCOM0.19%$2M191.2K

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 ↗.