Hidden Lake Asset Management LP
Long book
$150.9M
Q1 2026
Positions
20
Top-10 weight
71%
concentration
Last quarter
+37.7%
SPY +14.8%
Turnover
78%
of book per quarter
Strategy in plain words
auto-generated from filingsHidden Lake Asset Management LP is a concentrated fundamental stock-picker, running a $150.9M US long book across 20 positions.
The portfolio is concentrated: the top 10 names carry 71% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: WAYFAIR INC- CLASS A, UNITY SOFTWARE INC, EQUINIX INC, ADVANCED MICRO DEVICES, VNET GROUP INC-ADR.
Over the last 9 quarters its long book ran on average 5.7pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-3.4%
Q2 2024
+16.7%
Q3 2024
+23.0%
Q4 2024
-12.7%
Q1 2025
+33.9%
Q2 2025
+22.0%
Q3 2025
-14.5%
Q4 2025
-10.8%
Q1 2026
+37.7%
Sector allocation
Technology 63%
Consumer discretionary 16%
Services media 9%
Financials 7%
Industrials 5%
Long book by quarter
What does Hidden Lake own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| W WAYFAIR INC- CLASS A | Consumer discretionary | 220.5K | $16.6M | 11.0% | +1543.1% |
| U UNITY SOFTWARE INC | Technology | 661.4K | $14.5M | 9.6% | +518.4% |
| AMD ADVANCED MICRO DEVICES | Technology | 57.0K | $11.6M | 7.7% | New |
| AKAM AKAMAI TECHNOLOGIES INC | Services media | 73.7K | $8.5M | 5.6% | New |
| ZM ZOOM COMMUNICATIONS INC | Technology | 97.4K | $7.8M | 5.2% | New |
| TER TERADYNE INC | Technology | 26.0K | $7.7M | 5.1% | New |
| TSEM TOWER SEMICONDUCTOR LTD | Technology | 40.5K | $7.1M | 4.7% | New |
| STM STMICROELECTRONICS NV-NY SHS | Technology | 191.8K | $6.6M | 4.4% | New |
| NET CLOUDFLARE INC - CLASS A | Technology | 32.1K | $6.6M | 4.4% | New |
| WULF TERAWULF INC | Financials | 327.8K | $4.7M | 3.1% | -44.9% |
| AMAT APPLIED MATERIALS INC | Technology | 11.9K | $4.1M | 2.7% | New |
| BE BLOOM ENERGY CORP- A | Industrials | 27.3K | $3.7M | 2.5% | -28.2% |
| FIGR FIGURE TECHNOLOGY SOLUT-CL A | Financials | 77.4K | $2.6M | 1.7% | -58.8% |
| VECO VEECO INSTRUMENTS INC | Industrials | 50.3K | $1.7M | 1.1% | New |
| GRAB GRAB HOLDINGS LTD - CL A | Services media | 416.2K | $1.5M | 1.0% | -81.9% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 28 | $330.9M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 33 | $395.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 42 | $782.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 37 | $367.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 28 | $154.6M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 33 | $222.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 28 | $181.9M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 28 | $129.0M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 23 | $165.1M | canonical | SEC ↗ |
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