SEC 13F Intelligence

Managers / Q4 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
$395M
Q4 2025
Positions
33
Filings on Record
28
2019–present window
Filed
Feb 17, 2026
original filing

Summary

Hidden Lake Asset Management LP reported $395M in U.S.-listed holdings across 33 positions for Q4 2025.

Its largest position, AMZN, represents 6.5% of the portfolio.

Compared with Q3 2025, the fund opened 16 new positions and exited 25.

Portfolio Metrics

Turnover
+53.5%
vs prior filed quarter
Top-10 Concentration
+30.4%
share of reported value
Largest Position
+6.5%
Amazon Com
New / Exited
16 / 25
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: 51.7%Common Stock: 36.3%ADR: 9.0%Other: 2.9%
  • ETP · 51.7% · $205M
  • Common Stock · 36.3% · $144M
  • ADR · 9.0% · $36M
  • Other · 2.9% · $11M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SPDR S&P 500 ETF TRNEW+300.0K300.0K+$205M$205M
NVDANVIDIA CORPORATIONNEW+86.3K86.3K+$16M$16M
UPSTUPSTART HLDGS INCNEW+316.6K316.6K+$14M$14M
GRAB HOLDINGS LIMITEDNEW+2.30M2.30M+$11M$11M
FIGRFIGURE TECHNOLOGY SOLUTIONEW+188.0K188.0K+$8M$8M
DKNGDRAFTKINGS INC NEWNEW+211.7K211.7K+$7M$7M
WULFTERAWULF INCNEW+594.5K594.5K+$7M$7M
PATHUIPATH INCNEW+365.2K365.2K+$6M$6M

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

Holdings — Q4 2025

30 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AMZNAMAZON COM INChistory →COM6.54%$26M112.0K
2SESEA LTDhistory →SPONSORD ADS4.45%$18M137.9K
3NVDANVIDIA CORPORATIONhistory →COM4.07%$16M86.3K
4UPSTUPSTART HLDGS INChistory →COM3.50%$14M316.6K
5GRAB HOLDINGS LIMITEDCLASS A ORD2.90%$11M2.30M
6FIGRFIGURE TECHNOLOGY SOLUTIOhistory →COM CL A1.94%$8M188.0K
7BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS1.91%$8M51.7K
8ETSYETSY INChistory →COM1.83%$7M130.8K
9WULFTERAWULF INChistory →COM1.73%$7M594.5K
10LITELUMENTUM HLDGS INChistory →COM1.48%$6M15.9K
11ECHOECHOSTAR CORPhistory →CL A1.43%$6M51.9K
12UUNITY SOFTWARE INChistory →COM1.19%$5M106.9K
13VNETVNET GROUP INChistory →SPONSORED ADS A1.18%$5M549.2K
14LMNDLEMONADE INChistory →COM1.13%$4M63.0K
15DKNGDRAFTKINGS INC NEWhistory →COM CL A1.03%$4M118.2K
16EBAEBAY INC.COM1.00%$4M45.2K
17RKTROCKET COS INCCOM CL A0.90%$4M183.9K
18BEBLOOM ENERGY CORPCOM CL A0.84%$3M38.1K
19ASTSAST SPACEMOBILE INCCOM CL A0.83%$3M45.0K
20ROKUROKU INCCOM CL A0.81%$3M29.7K
21AVBPARRIVENT BIOPHARMA INCCOM0.78%$3M152.4K
22GDSGDS HLDGS LTDSPONSORED ADS0.78%$3M87.9K
23HUTHUT 8 CORPCOM0.75%$3M64.7K
24BIDUNBAIDU INCSPON ADR REP A0.70%$3M21.3K
25SNPSSYNOPSYS INCCOM0.62%$2M5.2K
26PATHUIPATH INCCL A0.48%$2M115.2K
27ZETAZETA GLOBAL HOLDINGS CORPCL A0.48%$2M92.3K
28RBLXROBLOX CORPCL A0.41%$2M20.1K
29APPAPPLOVIN CORPCOM CL A0.39%$2M2.3K
30WWAYFAIR INCCL A0.34%$1M13.4K

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 ↗.