SEA LTD SE
SPONSORD ADS · ADR · CUSIP 81141R100 · ISIN US81141R1005
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($138.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $131.40. Options: 44 managers hold calls ($1.9bn notional), 42 hold puts ($1.2bn).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 528 |
| Q4 2022 | 528 |
| Q1 2023 | 596 |
| Q2 2023 | 573 |
| Q3 2023 | 494 |
| Q4 2023 | 473 |
| Q1 2024 | 518 |
| Q2 2024 | 569 |
| Q3 2024 | 616 |
| Q4 2024 | 688 |
| Q1 2025 | 759 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 289 | 272 |
| Q3 2023 | 221 | 325 |
| Q4 2023 | 214 | 236 |
| Q1 2024 | 265 | 204 |
| Q2 2024 | 311 | 213 |
| Q3 2024 | 340 | 236 |
| Q4 2024 | 352 | 259 |
| Q1 2025 | 436 | 285 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $1.3bn | $886.6m | 0.68 |
| Q3 2024 | $1.9bn | $1.4bn | 0.74 |
| Q4 2024 | $2.2bn | $1.3bn | 0.58 |
| Q1 2025 | $1.9bn | $1.2bn | 0.64 |
Biggest buyers
| VIKING GLOBAL INVESTORS LP | New | +4.2m |
| JENNISON ASSOCIATES LLC | New | +2.6m |
| JPMORGAN CHASE & CO | Added | +1.9m |
| MARSHALL WACE, LLP | Added | +1.8m |
| Castle Hook Partners LP | New | +1.7m |
| FRED ALGER MANAGEMENT, LLC | Added | +1.5m |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | Added | +1.4m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +1.3m |
| SCGE MANAGEMENT, L.P. | Added | +1.3m |
| Aspex Management (HK) Ltd | Added | +952.4k |
Biggest sellers
| Capital Research Global Investors | Reduced | -3.8m |
| MORGAN STANLEY | Reduced | -1.7m |
| First Beijing Investment Ltd | Reduced | -1.6m |
| EMINENCE CAPITAL, LP | Reduced | -1.5m |
| BAILLIE GIFFORD & CO | Reduced | -1.4m |
| Slate Path Capital LP | Sold out | -1.3m |
| Temasek Holdings (Private) Ltd | Reduced | -1.2m |
| PRUDENTIAL PLC | Reduced | -842.5k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Reduced | -806.4k |
| RENAISSANCE TECHNOLOGIES LLC | Sold out | -765.9k |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $360.0m2.8m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $343.2m2.6m shares |
| JANE STREET GROUP, LLC | Reduced | $236.3m1.8m shares |
| Dorsal Capital Management, LP | Added | $130.5m1.0m shares |
| PEAK6 LLC | Added | $96.9m742.5k shares |
| Walleye Trading LLC | Added | $94.0m720.5k shares |
| IMC-Chicago, LLC | Reduced | $81.8m627.2k shares |
| D. E. Shaw & Co., Inc. | Reduced | $79.7m610.9k shares |
| SIMPLEX TRADING, LLC | Reduced | $61.1m467.9k shares |
| SG Americas Securities, LLC | Reduced | $51.7m990.2k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $272.9m2.1m shares |
| CITADEL ADVISORS LLC | Reduced | $169.4m1.3m shares |
| PEAK6 LLC | Added | $114.9m880.2k shares |
| JANE STREET GROUP, LLC | Added | $102.1m782.7k shares |
| Walleye Trading LLC | Added | $80.4m615.9k shares |
| IMC-Chicago, LLC | Reduced | $54.5m417.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $49.9m382.1k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Reduced | $48.0m368.0k shares |
| Parallax Volatility Advisers, L.P. | Added | $41.1m315.0k shares |
| JPMORGAN CHASE & CO | Reduced | $29.1m222.9k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Li Xiaodong 13D · may seek influence filed 2026-01-02 | 16.1% |
| BAILLIE GIFFORD & CO 13G · institution -1.2 pts · filed 2026-10-21 | 6.6% |
| WCM INVESTMENT MANAGEMENT, LLC 13G · institution new · filed 2026-04-06 | 6.2% |
| PRICE T ROWE ASSOCIATES INC /MD/ 13G · institution new · filed 2026-05-15 | 6.1% |
Fell to 5% or below in the last year: Ye Gang (4.4%, 2026-01-16)
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| BAILLIE GIFFORD & CO 4.50% of their portfolio | 39.5m $5.2bn | Reduced -1.4m |
| WCM INVESTMENT MANAGEMENT, LLC 8.45% of their portfolio | 25.1m $3.3bn | Reduced -519.0k |
| BlackRock, Inc. 0.05% of their portfolio | 18.1m $2.4bn | Added +300.4k |
| TIGER GLOBAL MANAGEMENT LLC 7.87% of their portfolio | 16.0m $2.1bn | Unchanged |
| NORGES BANK 0.27% of their portfolio | 14.8m $1.9bn | Added +759.2k |
| JPMORGAN CHASE & CO 0.12% of their portfolio | 11.6m $1.5bn | Added +1.9m |
| FMR LLC 0.10% of their portfolio | 11.5m $1.5bn | Added +278.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.15% of their portfolio | 9.6m $1.3bn | Added +1.3m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.75% of their portfolio | 7.1m $923.7m | Reduced -15.0k |
| SANDS CAPITAL MANAGEMENT, LLC 3.03% of their portfolio | 6.8m $889.7m | Reduced -573.6k |
| STATE STREET CORP 0.03% of their portfolio | 6.4m $841.4m | Reduced -430.9k |
| Aspex Management (HK) Ltd 19.71% of their portfolio | 5.8m $763.1m | Added +952.4k |
| Artisan Partners Limited Partnership 1.03% of their portfolio | 4.9m $634.6m | Reduced -257.3k |
| GOLDMAN SACHS GROUP INC 0.12% of their portfolio | 4.8m $625.9m | Reduced -57.8k |
| ACADIAN ASSET MANAGEMENT LLC 1.76% of their portfolio | 4.8m $623.4m | Added +354.2k |
| Capital Research Global Investors 0.12% of their portfolio | 4.3m $561.3m | Reduced -3.8m |
| MORGAN STANLEY 0.04% of their portfolio | 4.2m $549.8m | Reduced -1.7m |
| VIKING GLOBAL INVESTORS LP 1.72% of their portfolio | 4.2m $542.9m | New |
| Kora Management LP 67.74% of their portfolio | 4.0m $517.8m | Reduced -275.5k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 1.35% of their portfolio | 3.7m $479.9m | Added +1.4m |
| CITIGROUP INC 0.36% of their portfolio | 3.6m $468.1m | Added +804.7k |
| FIL Ltd 0.43% of their portfolio | 3.4m $448.1m | Added +802.7k |
| Kontiki Capital Management (HK) Ltd. 31.82% of their portfolio | 3.4m $442.2m | Added +111.4k |
| MARSHALL WACE, LLP 0.58% of their portfolio | 3.3m $431.0m | Added +1.8m |
| NORTHERN TRUST CORP 0.06% of their portfolio | 3.2m $420.1m | Added +273.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 3.2m $408.9m | Reduced -14.9k |
| Point72 Asset Management, L.P. 1.12% of their portfolio | 3.1m $398.5m | Added +893.5k |
| FRED ALGER MANAGEMENT, LLC 1.92% of their portfolio | 2.6m $337.3m | Added +1.5m |
| JENNISON ASSOCIATES LLC 0.24% of their portfolio | 2.6m $336.5m | New |
| EMINENCE CAPITAL, LP 5.53% of their portfolio | 2.5m $331.0m | Reduced -1.5m |
| Temasek Holdings (Private) Ltd 1.30% of their portfolio | 2.5m $323.0m | Reduced -1.2m |
| Clearbridge Investments, LLC 0.28% of their portfolio | 2.4m $318.9m | Reduced -65.7k |
| SEI INVESTMENTS CO 0.40% of their portfolio | 2.4m $309.9m | Added +193.3k |
| PRUDENTIAL PLC 1.56% of their portfolio | 2.4m $308.9m | Reduced -842.5k |
| SCGE MANAGEMENT, L.P. 8.12% of their portfolio | 2.2m $281.9m | Added +1.3m |
| Invesco Ltd. 0.05% of their portfolio | 2.1m $272.5m | Reduced -351.5k |
| Legal & General Group Plc 0.07% of their portfolio | 2.1m $269.3m | Reduced -81.3k |
| Perpetual Ltd 3.20% of their portfolio | 2.0m $264.8m | Reduced -68.5k |
| WFM ASIA (BVI) Ltd 28.69% of their portfolio | 2.0m $257.1m | Unchanged |
| HSBC HOLDINGS PLC 0.16% of their portfolio | 1.9m $246.1m | Added +298.4k |
| CoreView Capital Management Ltd 22.72% of their portfolio | 1.8m $228.4m | Reduced -441.2k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 1.7m $222.2m | Added +221.8k |
| Ninety One UK Ltd 0.61% of their portfolio | 1.7m $219.7m | Added +440.0k |
| WASATCH ADVISORS LP 1.22% of their portfolio | 1.7m $218.8m | Added +51.6k |
| Castle Hook Partners LP 5.74% of their portfolio | 1.7m $218.2m | New |
| KENSICO CAPITAL MANAGEMENT CORP 4.91% of their portfolio | 1.7m $217.9m | Added +426.7k |
| DEUTSCHE BANK AG\ 0.08% of their portfolio | 1.6m $212.2m | Added +196.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio | 1.6m $205.3m | Added +55.5k |
| FRANKLIN RESOURCES INC 0.06% of their portfolio | 1.5m $200.6m | Added +722.1k |
| Dorsal Capital Management, LP 6.32% of their portfolio | 1.5m $195.7m | Added +75.0k |
| Arohi Asset Management PTE Ltd. 61.83% of their portfolio | 1.4m $184.2m | Reduced -450.2k |
| OVERSEA-CHINESE BANKING Corp Ltd 5.04% of their portfolio | 1.3m $172.1m | Added +1.9k |
| UBS Group AG 0.04% of their portfolio | 1.3m $169.7m | Added +56.3k |
| CITADEL ADVISORS LLC 0.16% of their portfolio | 1.3m $163.7m | Added +756.4k |
| Nuveen, LLC 0.05% of their portfolio | 1.2m $162.8m | First filing |
| Tree Line Advisors (Hong Kong) Ltd. 40.05% of their portfolio | 1.2m $160.5m | Unchanged |
| ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio | 1.2m $157.2m | Reduced -16.6k |
| TORONTO DOMINION BANK 0.39% of their portfolio | 1.2m $152.7m | Added +140.2k |
| AXIOM INVESTORS LLC /DE 0.73% of their portfolio | 1.2m $151.8m | Added +534.3k |
| BARCLAYS PLC 0.07% of their portfolio | 1.2m $151.7m | Added +222.8k |
| LORD, ABBETT & CO. LLC 0.51% of their portfolio | 1.1m $144.2m | Added +696.9k |
| Ribbit Management Company, LLC 14.72% of their portfolio | 1.1m $143.6m | Unchanged |
| Coronation Fund Managers Ltd. 7.61% of their portfolio | 1.1m $140.1m | Added +22.5k |
| TWO SIGMA INVESTMENTS, LP 0.29% of their portfolio | 1.0m $135.6m | Added +86.1k |
| Swiss National Bank 0.09% of their portfolio | 1.0m $133.5m | Added +1.4k |
| Sumitomo Mitsui Trust Group, Inc. 0.09% of their portfolio | 990.2k $129.2m | Reduced -154.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.10% of their portfolio | 989.8k $129.2m | First filing |
| AGF MANAGEMENT LTD 0.68% of their portfolio | 982.9k $128.3m | Added +620.6k |
| First Beijing Investment Ltd 8.58% of their portfolio | 957.7k $125.0m | Reduced -1.6m |
| MACQUARIE GROUP LTD 0.14% of their portfolio | 885.1k $115.5m | Reduced -59.1k |
| VANGUARD GROUP INC 0.00% of their portfolio | 873.4k $114.0m | Added +3.6k |
| 1832 Asset Management L.P. 0.21% of their portfolio | 845.8k $110.4m | Reduced -133.0k |
| National Pension Service 0.10% of their portfolio | 835.2k $109.0m | Added +304.6k |
| PUBLIC INVESTMENT FUND 0.56% of their portfolio | 833.3k $108.7m | Unchanged |
| Orbis Allan Gray Ltd 0.62% of their portfolio | 829.0k $108.2m | Reduced -177.6k |
| KEYSTONE INVESTORS PTE LTD 15.10% of their portfolio | 823.6k $107.5m | Reduced -109.1k |
| Robeco Institutional Asset Management B.V. 0.20% of their portfolio | 805.6k $105.1m | Added +361.8k |
| Charles-Lim Capital Ltd 30.76% of their portfolio | 800.0k $104.4m | Reduced -208.3k |
| AVIVA PLC 0.25% of their portfolio | 796.7k $104.0m | Reduced -79.0k |
| Mirae Asset Global Investments Co., Ltd. 0.04% of their portfolio | 790.5k $8.7m | Added +693.3k |
| Fullerton Fund Management Co Ltd. 6.50% of their portfolio | 776.3k $101.3m | Added +344.9k |
| Russell Investments Group, Ltd. 0.14% of their portfolio | 765.2k $99.9m | Added +187.2k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.36% of their portfolio | 758.3k $98.9m | Added +73.1k |
| Mitsubishi UFJ Trust & Banking Corp 0.25% of their portfolio | 731.4k $95.4m | Reduced -38.2k |
| Holocene Advisors, LP 0.27% of their portfolio | 707.8k $92.4m | New |
| COATUE MANAGEMENT LLC 0.40% of their portfolio | 696.6k $90.9m | Added +18.3k |
| TWO SIGMA ADVISERS, LP 0.20% of their portfolio | 695.2k $90.7m | Added +313.9k |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 649.6k $84.8m | Added +65.4k |
| Connor, Clark & Lunn Investment Management Ltd. 0.37% of their portfolio | 647.8k $84.5m | Added +94.7k |
| Qube Research & Technologies Ltd 0.13% of their portfolio | 644.9k $84.1m | Reduced -19.6k |
| Trivest Advisors Ltd 7.08% of their portfolio | 640.0k $83.5m | Reduced -70.0k |
| Driehaus Capital Management LLC 0.80% of their portfolio | 637.5k $83.2m | Added +615.2k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 626.4k $81.7m | Reduced -1.5k |
| Allspring Global Investments Holdings, LLC 0.13% of their portfolio | 569.6k $75.4m | Reduced -85.8k |
| Carrhae Capital LLP 8.37% of their portfolio | 551.7k $72.0m | Added +77.0k |
| Polar Capital Holdings Plc 0.42% of their portfolio | 528.8k $69.0m | Added +29.5k |
| State of Tennessee, Department of Treasury 0.26% of their portfolio | 515.2k $67.2m | Reduced -19.9k |
| Davis Selected Advisers 0.39% of their portfolio | 514.6k $67.2m | Reduced -123.4k |
| INFINITUM ASSET MANAGEMENT, LLC 21.13% of their portfolio | 506.5k $66.1m | Unchanged |
| Bridgewater Associates, LP 0.31% of their portfolio | 505.7k $66.0m | Reduced -91.3k |