# Hidden Lake Asset Management LP

> Hidden Lake Asset Management LP is an SEC-registered investment advisory firm in New York, NY, registered since 2019, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 298209
- Filed as: HIDDEN LAKE ASSET MANAGEMENT LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/298209
- AdvisorCensus page: https://advisorcensus.com/firm/hidden-lake-asset-management-lp-new-york-ny-298209

## Quick answers

**How is Hidden Lake Asset Management LP compensated?**
On its Form ADV (Item 5.E, October 2026), Hidden Lake Asset Management LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**How much does Hidden Lake Asset Management LP charge?**
Its Form ADV Part 2A brochure dated March 27, 2026 states: Asset-based fee: 1% to 1.75% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Hidden Lake Asset Management LP located?**
Hidden Lake Asset Management LP's principal office is in New York, NY, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Hidden Lake Asset Management LP registered with the SEC or a state?**
Hidden Lake Asset Management LP is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 298209.

**How much does Hidden Lake Asset Management LP manage?**
Hidden Lake Asset Management LP reports $378,263,704 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).

**How have Hidden Lake Asset Management LP's assets and staff changed since 2021?**
In the Form ADV data for Hidden Lake Asset Management LP: Regulatory assets under management: $493,928,168 in the October 2021 data and $378,263,704 in the October 2026 data, down 23%. Total employees: 10 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Hidden Lake Asset Management LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (5).

**Does Hidden Lake Asset Management LP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/298209

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 27, 2026)

- Asset-based fee: 1% to 1.75% a year (a range, as the brochure states it)

> The Fee will range from 1.00% to 1.75% per annum.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $378,263,704
- Discretionary: $378,263,704
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 5 | $378,263,704 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2019 (7 years)
- Employees: 10 total, 8 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Coral Gables, FL

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $493,928,168 | 10 | September 10, 2021 |
| October 2022 | $450,362,282 | 11 | March 30, 2022 |
| October 2023 | $379,607,794 | 11 | March 31, 2023 |
| October 2024 | $389,571,899 | 10 | March 25, 2024 |
| October 2025 | $367,921,603 | 10 | April 4, 2025 |
| October 2026 | $378,263,704 | 10 | March 27, 2026 |

Regulatory assets under management: $493,928,168 in the October 2021 data and $378,263,704 in the October 2026 data, down 23%.
Total employees: 10 in October 2021 and 10 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Hidden Lake Asset Management LP (CRD 298209): Form ADV filing data as of October 2026.