Hidden Lake Asset Management LP In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Hidden Lake Asset Management LP reported 24 stock positions worth $112.6 million . Its top holding was Sea Ltd.-ADR (SE) at 12.6% of the portfolio, followed by Affirm (AFRM, 8.3% ) and Terawulf (WULF, 6.3% ). Compared with Q2 2024, it opened 16 new positions, sold out of 18, added to 5 and reduced 3. The biggest buy was a new position in Terawulf (WULF) and the biggest sale an exit from Jd.com Inc.-ADR (JD).
Location NEW YORK, NY
CIK 0001750312
Portfolio Value $112.6M (Q3 2024) Holdings 24 stocks · $112.6M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2024 SE Sea Ltd.-ADR 150,463 $14.2M Reduce -30.4% AFRM Affirm Holdings Inc. 228,849 $9.3M Add +30.2% WULF Terawulf Inc. 1,521,374 $7.1M New LVS Las Vegas Sands Corp. 126,440 $6.4M New TSM Taiwan Semiconductor-SP ADR 34,980 $6.1M New CORZ Core Scientific Inc. 512,040 $6.1M New GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 293,994 $6.0M Add +70.3% GTLB Gitlab Inc. Class A 111,150 $5.7M Add +52.6% RBLX Roblox Corp. Class A 128,360 $5.7M Reduce -16.1% CHWY Chewy Inc. Class A 173,920 $5.1M Add +162.0% RDDT Reddit Inc. Class A 74,610 $4.9M New EDU New Oriental Educatio-SP ADR 63,680 $4.8M New DKNG Draftkings Inc. Class A 105,320 $4.1M Reduce -26.2% BTDR Bitdeer Technologies Group-A 515,260 $4.0M New ZTO Zto Express Cayman Inc.-ADR 154,300 $3.8M New UPST Upstart Holdings Inc. 78,260 $3.1M New BIDU Baidu Inc. - Spon ADR 27,230 $2.9M New ROKU Roku Inc. 37,190 $2.8M New PINS Pinterest Inc. Class A 74,900 $2.4M New BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 101,160 $2.0M New CEG Constellation Energy 7,480 $1.9M New TAL Tal Education Group- ADR 137,896 $1.6M New KPLT Katapult Holdings Inc. 126,475 $1.3M Add +2.9% GOTU Gaotu Techedu Inc. 291,430 $1.1M New
Options reported separately and not counted above: QQQ puts ($29.3M), SE calls ($18.9M), PINS calls ($11.7M), BIDU calls ($9.5M).
Portfolio Sells Q2 2024 → Q3 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▲ JD Jd.com Inc.-ADR Sold out 0.00% −8.34 PYPL PayPal Holdings Inc. Sold out 0.00% −7.30 JMIA Jumia Technologies AG-ADR Sold out 0.00% −6.80 MRVL Marvell Technology Inc. Sold out 0.00% −6.09 AAPL Apple Inc. Sold out 0.00% −5.75 AMZN Amazon.com Inc. Sold out 0.00% −5.70 W Wayfair Inc. Class A Sold out 0.00% −4.84 COHR Coherent Corp. Sold out 0.00% −3.94 MTSI Macom Technology Solutions H Sold out 0.00% −3.47 MDB Mongodb Inc. Sold out 0.00% −3.27 PSN Parsons Corp. Sold out 0.00% −2.25 TER Teradyne Inc. Sold out 0.00% −1.82 AVGO Broadcom Inc. Sold out 0.00% −1.60 PDD PDD Holdings Inc. Sold out 0.00% −1.32 DKNG Draftkings Inc. Class A Reduce -26.2% 3.67% −0.98 RIVN Rivian Automotive Inc. Class A Sold out 0.00% −0.74 SOUN Soundhound AI Inc. Class A Sold out 0.00% −0.72 AVBP Arrivent Biopharma Inc. Sold out 0.00% −0.59 SE Sea Ltd.-ADR Reduce -30.4% 12.59% −0.56 AAOI Applied Optoelectronics Inc. Sold out 0.00% −0.51 RBLX Roblox Corp. Class A Reduce -16.1% 5.04% +0.19
Portfolio Buys Q2 2024 → Q3 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▼ WULF Terawulf Inc. New 6.32% +6.32 LVS Las Vegas Sands Corp. New 5.65% +5.65 TSM Taiwan Semiconductor-SP ADR New 5.39% +5.39 CORZ Core Scientific Inc. New 5.39% +5.39 RDDT Reddit Inc. Class A New 4.37% +4.37 EDU New Oriental Educatio-SP ADR New 4.29% +4.29 GDS GDS Holdings Ltd. - ADR Add +70.3% 5.32% +3.96 AFRM Affirm Holdings Inc. Add +30.2% 8.29% +3.77 BTDR Bitdeer Technologies Group-A New 3.58% +3.58 ZTO Zto Express Cayman Inc.-ADR New 3.39% +3.39 CHWY Chewy Inc. Class A Add +162.0% 4.52% +2.98 UPST Upstart Holdings Inc. New 2.78% +2.78 BIDU Baidu Inc. - Spon ADR New 2.55% +2.55 ROKU Roku Inc. New 2.46% +2.46 PINS Pinterest Inc. Class A New 2.15% +2.15 GTLB Gitlab Inc. Class A Add +52.6% 5.09% +2.00 BEKE Ke Holdings Inc.-ADR New 1.79% +1.79 CEG Constellation Energy New 1.73% +1.73 TAL Tal Education Group- ADR New 1.45% +1.45 GOTU Gaotu Techedu Inc. New 1.01% +1.01 KPLT Katapult Holdings Inc. Add +2.9% 1.17% −0.59
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ QQQ Invesco QQQ Trust Series 1 put New 60,000 $29.3M SE Sea Ltd.-ADR call New 200,000 $18.9M PINS Pinterest Inc. Class A call New 360,000 $11.7M JD Jd.com Inc.-ADR call Sold out 450,000 $11.6Mbefore exit BIDU Baidu Inc. - Spon ADR call New 90,000 $9.5M JMIA Jumia Technologies AG-ADR call Sold out 20,000 $140Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 15 $146.7M AMD, STX, AMAT, SNOW, STM Q1 2026 20 $150.9M W, U, EQIX, AMD, VNET Q4 2025 30 $183.5M AMZN, SE, NVDA, UPST, GRAB Q3 2025 37 $250.3M PDD, CRWV, RBLX, WIX, AAPL Q2 2025 28 $203.5M RDDT, AFRM, SE, CFLT, RBLX Q1 2025 25 $101.4M SE, SNOW, U, RBLX, CFLT Q4 2024 28 $146.5M SE, UPST, CRM, WULF, HOOD Q3 2024 24 $112.6M SE, AFRM, WULF, LVS, TSM Q2 2024 26 $117.3M SE, JD, PYPL, JMIA, MRVL Q1 2024 18 $106.0M SE, NXH, PYPL, MRVL, JD