Hidden Lake Asset Management LP In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Hidden Lake Asset Management LP reported 28 stock positions worth $146.5 million . Its top holding was Sea Ltd.-ADR (SE) at 9.2% of the portfolio, followed by Upstart (UPST, 6.8% ) and Salesforce (CRM, 6.3% ). Compared with Q3 2024, it opened 15 new positions, sold out of 11, added to 4 and reduced 8. The biggest buy was a new position in Salesforce (CRM) and the biggest sale Affirm (AFRM, shares −78% ).
Location NEW YORK, NY
CIK 0001750312
Portfolio Value $146.5M (Q4 2024) Holdings 28 stocks · $146.5M 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 Q3 2024 SE Sea Ltd.-ADR 127,013 $13.5M Reduce -15.6% UPST Upstart Holdings Inc. 161,830 $10.0M Add +106.8% CRM Salesforce Inc. 27,450 $9.2M New WULF Terawulf Inc. 1,601,990 $9.1M Add +5.3% HOOD Robinhood Markets Inc. Class A 242,510 $9.0M New HON Honeywell International Inc. 35,510 $8.0M New CHWY Chewy Inc. Class A 232,059 $7.8M Add +33.4% JD Jd.com Inc.-ADR 214,110 $7.4M New BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 355,685 $6.6M Add +251.6% GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 263,274 $6.3M Reduce -10.4% CORZ Core Scientific Inc. 431,700 $6.1M Reduce -15.7% BTDR Bitdeer Technologies Group-A 257,080 $5.6M Reduce -50.1% HUT Hut 8 Corp. 264,690 $5.4M New TSM Taiwan Semiconductor-SP ADR 27,450 $5.4M Reduce -21.5% UBER Uber Technologies Inc. 87,180 $5.3M New AVBP Arrivent Biopharma Inc. 184,605 $4.9M New GTLB Gitlab Inc. Class A 79,900 $4.5M Reduce -28.1% MDB Mongodb Inc. 18,130 $4.2M New MBLY Mobileye Global Inc. Class A 174,160 $3.5M New AFRM Affirm Holdings Inc. 50,341 $3.1M Reduce -78.0% EDU New Oriental Educatio-SP ADR 41,380 $2.7M Reduce -35.0% CFLT Confluent Inc. Class A 89,830 $2.5M New FSLY Fastly Inc. Class A 228,260 $2.2M New OUST Ouster Inc. 144,330 $1.8M New KPLT Katapult Holdings Inc. 126,475 $856K No change LAZRQ Luminar Technologies Inc. 153,030 $823K New EOSE Eos Energy Enterprises Inc. 152,890 $743K New DLO Dlocal Ltd. 25,780 $290K New
Options reported separately and not counted above: QQQ puts ($40.9M), MTUM puts ($22.8M), GTLB calls ($9.6M), MBLY calls ($1.8M), AUR calls ($882K).
Portfolio Sells Q3 2024 → Q4 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 Q3 2024 % Of Portfolio Change To Portfolio ▲ AFRM Affirm Holdings Inc. Reduce -78.0% 2.09% −6.20 LVS Las Vegas Sands Corp. Sold out 0.00% −5.65 RBLX Roblox Corp. Class A Sold out 0.00% −5.04 RDDT Reddit Inc. Class A Sold out 0.00% −4.37 DKNG Draftkings Inc. Class A Sold out 0.00% −3.67 ZTO Zto Express Cayman Inc.-ADR Sold out 0.00% −3.39 SE Sea Ltd.-ADR Reduce -15.6% 9.20% −3.39 BIDU Baidu Inc. - Spon ADR Sold out 0.00% −2.55 EDU New Oriental Educatio-SP ADR Reduce -35.0% 1.81% −2.47 ROKU Roku Inc. Sold out 0.00% −2.46 PINS Pinterest Inc. Class A Sold out 0.00% −2.15 GTLB Gitlab Inc. Class A Reduce -28.1% 3.07% −2.01 CEG Constellation Energy Sold out 0.00% −1.73 TSM Taiwan Semiconductor-SP ADR Reduce -21.5% 3.70% −1.69 TAL Tal Education Group- ADR Sold out 0.00% −1.45 CORZ Core Scientific Inc. Reduce -15.7% 4.14% −1.25 GDS GDS Holdings Ltd. - ADR Reduce -10.4% 4.27% −1.05 GOTU Gaotu Techedu Inc. Sold out 0.00% −1.01 BTDR Bitdeer Technologies Group-A Reduce -50.1% 3.80% +0.22
Portfolio Buys Q3 2024 → Q4 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 Q3 2024 % Of Portfolio Change To Portfolio ▼ CRM Salesforce Inc. New 6.27% +6.27 HOOD Robinhood Markets Inc. Class A New 6.17% +6.17 HON Honeywell International Inc. New 5.48% +5.48 JD Jd.com Inc.-ADR New 5.07% +5.07 UPST Upstart Holdings Inc. Add +106.8% 6.80% +4.02 HUT Hut 8 Corp. New 3.70% +3.70 UBER Uber Technologies Inc. New 3.59% +3.59 AVBP Arrivent Biopharma Inc. New 3.36% +3.36 MDB Mongodb Inc. New 2.88% +2.88 BEKE Ke Holdings Inc.-ADR Add +251.6% 4.47% +2.69 MBLY Mobileye Global Inc. Class A New 2.37% +2.37 CFLT Confluent Inc. Class A New 1.71% +1.71 FSLY Fastly Inc. Class A New 1.47% +1.47 OUST Ouster Inc. New 1.20% +1.20 CHWY Chewy Inc. Class A Add +33.4% 5.31% +0.78 LAZRQ Luminar Technologies Inc. New 0.56% +0.56 EOSE Eos Energy Enterprises Inc. New 0.51% +0.51 DLO Dlocal Ltd. New 0.20% +0.20 WULF Terawulf Inc. Add +5.3% 6.19% −0.13
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ QQQ Invesco QQQ Trust Series 1 put Add +33.3% 80,000 $40.9M MTUM iShares MSCI USA Momentum Fa put New 110,000 $22.8M SE Sea Ltd.-ADR call Sold out 200,000 $18.9Mbefore exit PINS Pinterest Inc. Class A call Sold out 360,000 $11.7Mbefore exit GTLB Gitlab Inc. Class A call New 170,000 $9.6M BIDU Baidu Inc. - Spon ADR call Sold out 90,000 $9.5Mbefore exit MBLY Mobileye Global Inc. Class A call New 90,000 $1.8M AUR Aurora Innovation Inc. call New 140,000 $882K
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