Hidden Lake Asset Management LP In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Hidden Lake Asset Management LP reported 20 stock positions worth $150.9 million . Its top holding was Wayfair Class A (W) at 11.0% of the portfolio, followed by Unity Software (U, 9.6% ) and Equinix (EQIX, 9.4% ). Compared with Q4 2025, it opened 11 new positions, sold out of 21, added to 4 and reduced 5. The biggest buy was Wayfair Class A (W, shares +1543% ) and the biggest sale an exit from Amazon.com (AMZN).
Location NEW YORK, NY
CIK 0001750312
Portfolio Value $150.9M (Q1 2026) Holdings 20 stocks · $150.9M 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 Q4 2025 W Wayfair Inc. Class A 220,489 $16.6M Add +1543.1% U Unity Software Inc. 661,362 $14.5M Add +518.4% EQIX Equinix Inc. 14,429 $14.1M New AMD Advanced Micro Devices 57,010 $11.6M New VNET Vnet Group Inc.-ADR 1,324,730 $11.1M Add +141.2% AKAM Akamai Technologies Inc. 73,721 $8.5M New ZM Zoom Communications Inc. 97,356 $7.8M New TER Teradyne Inc. 26,026 $7.7M New SE Sea Ltd.-ADR 92,253 $7.6M Reduce -33.1% TSEM Tower Semiconductor Ltd. 40,464 $7.1M New ARM Arm Holdings PLC-ADR 45,366 $6.9M New STM Stmicroelectronics NV-NY SHS 191,750 $6.6M New NET Cloudflare Inc. Class A 32,107 $6.6M New GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 142,149 $5.7M Add +61.8% WULF Terawulf Inc. 327,758 $4.7M Reduce -44.9% AMAT Applied Materials Inc. 11,880 $4.1M New BE Bloom Energy Corp. Class A 27,337 $3.7M Reduce -28.2% FIGR Figure Technology Solut Class A 77,424 $2.6M Reduce -58.8% VECO Veeco Instruments Inc. 50,276 $1.7M New GRAB Grab Holdings Ltd. Class A 416,206 $1.5M Reduce -81.9%
Options reported separately and not counted above: IWM puts ($63.2M), MSFT calls ($44.4M), ZM calls ($22.5M), TLT calls ($21.7M), ADI calls ($15.1M), SMH puts ($7.7M), PYPL calls ($4.5M), U calls ($845K).
Portfolio Sells Q4 2025 → Q1 2026 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 Q4 2025 % Of Portfolio Change To Portfolio ▲ AMZN Amazon.com Inc. Sold out 0.00% −14.09 NVDA Nvidia Corp. Sold out 0.00% −8.77 UPST Upstart Holdings Inc. Sold out 0.00% −7.54 GRAB Grab Holdings Ltd. Class A Reduce -81.9% 1.01% −5.23 SE Sea Ltd.-ADR Reduce -33.1% 5.06% −4.53 BABA Alibaba Group Holding-SP ADR Sold out 0.00% −4.13 ETSY Etsy Inc. Sold out 0.00% −3.95 LITE Lumentum Holdings Inc. Sold out 0.00% −3.19 ECHO Echostar Corp. Class A Sold out 0.00% −3.07 LMND Lemonade Inc. Sold out 0.00% −2.45 FIGR Figure Technology Solut Class A Reduce -58.8% 1.74% −2.44 DKNG Draftkings Inc. Class A Sold out 0.00% −2.22 EBAY eBay Inc. Sold out 0.00% −2.15 RKT Rocket Cos Inc. Class A Sold out 0.00% −1.94 ASTS Ast Spacemobile Inc. Sold out 0.00% −1.78 ROKU Roku Inc. Sold out 0.00% −1.75 AVBP Arrivent Biopharma Inc. Sold out 0.00% −1.67 HUT Hut 8 Corp. Sold out 0.00% −1.62 BIDU Baidu Inc. - Spon ADR Sold out 0.00% −1.52 SNPS Synopsys Inc. Sold out 0.00% −1.33 PATH Uipath Inc. Class A Sold out 0.00% −1.03 ZETA Zeta Global Holdings Corp. Class A Sold out 0.00% −1.02 RBLX Roblox Corp. Class A Sold out 0.00% −0.89 APP AppLovin Corp. Class A Sold out 0.00% −0.84 WULF Terawulf Inc. Reduce -44.9% 3.13% −0.59 BE Bloom Energy Corp. Class A Reduce -28.2% 2.45% +0.65
Portfolio Buys Q4 2025 → Q1 2026 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 Q4 2025 % Of Portfolio Change To Portfolio ▼ W Wayfair Inc. Class A Add +1543.1% 10.99% +10.26 EQIX Equinix Inc. New 9.37% +9.37 AMD Advanced Micro Devices New 7.69% +7.69 U Unity Software Inc. Add +518.4% 9.62% +7.04 AKAM Akamai Technologies Inc. New 5.61% +5.61 ZM Zoom Communications Inc. New 5.19% +5.19 TER Teradyne Inc. New 5.11% +5.11 VNET Vnet Group Inc.-ADR Add +141.2% 7.37% +4.83 TSEM Tower Semiconductor Ltd. New 4.71% +4.71 ARM Arm Holdings PLC-ADR New 4.55% +4.55 NET Cloudflare Inc. Class A New 4.39% +4.39 STM Stmicroelectronics NV-NY SHS New 4.39% +4.39 AMAT Applied Materials Inc. New 2.69% +2.69 GDS GDS Holdings Ltd. - ADR Add +61.8% 3.80% +2.12 VECO Veeco Instruments Inc. New 1.13% +1.13
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 300,000 $204.6Mbefore exit IWM iShares Russell 2000 ETF put New 255,000 $63.2M MSFT Microsoft Corp. call New 120,000 $44.4M ZM Zoom Communications Inc. call New 280,000 $22.5M TLT iShares 20+ Year Treasury BD call New 250,000 $21.7M ADI Analog Devices Inc. call New 47,500 $15.1M SMH Vaneck Semiconductor ETF put New 20,000 $7.7M PYPL PayPal Holdings Inc. call New 100,000 $4.5M PATH Uipath Inc. Class A call Sold out 250,000 $4.1Mbefore exit DKNG Draftkings Inc. Class A call Sold out 93,500 $3.2Mbefore exit U Unity Software Inc. call New 38,500 $845K
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