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 ($226.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $159.83. Options: 43 managers hold calls ($2.5bn notional), 43 hold puts ($1.8bn).
Trends to Q2 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 |
| Q2 2025 | 860 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2025 | 494 | 309 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $1.9bn | $1.4bn | 0.74 |
| Q4 2024 | $2.2bn | $1.3bn | 0.58 |
| Q1 2025 | $1.9bn | $1.2bn | 0.64 |
| Q2 2025 | $2.5bn | $1.8bn | 0.71 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +7.1m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +6.1m |
| BlackRock, Inc. | Added | +2.1m |
| BAILLIE GIFFORD & CO | Added | +2.1m |
| JENNISON ASSOCIATES LLC | Added | +1.7m |
| Whale Rock Capital Management LLC | New | +1.4m |
| D. E. Shaw & Co., Inc. | New | +1.4m |
| Mitsubishi UFJ Trust & Banking Corp | Added | +1.3m |
| TWO SIGMA ADVISERS, LP | Added | +1.2m |
| UBS Group AG | Added | +1.0m |
Biggest sellers
| NORGES BANK | Reduced | -7.9m |
| FMR LLC | Reduced | -4.1m |
| MARSHALL WACE, LLP | Reduced | -2.2m |
| Capital Research Global Investors | Reduced | -1.7m |
| Kontiki Capital Management (HK) Ltd. | Reduced | -1.1m |
| SANDS CAPITAL MANAGEMENT, LLC | Reduced | -1.1m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -1.0m |
| EMINENCE CAPITAL, LP | Reduced | -987.7k |
| CoreView Capital Management Ltd | Reduced | -984.1k |
| First Beijing Investment Ltd | Sold out | -957.7k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $592.8m3.7m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $328.2m2.1m shares |
| JANE STREET GROUP, LLC | Added | $322.0m2.0m shares |
| Dorsal Capital Management, LP | Unchanged | $159.9m1.0m shares |
| Walleye Trading LLC | Added | $118.3m739.8k shares |
| MAPLELANE CAPITAL, LLC | Added | $112.0m700.0k shares |
| PEAK6 LLC | Reduced | $110.8m692.6k shares |
| D. E. Shaw & Co., Inc. | Reduced | $82.0m512.8k shares |
| IMC-Chicago, LLC | Reduced | $79.0m494.1k shares |
| SIMPLEX TRADING, LLC | Reduced | $69.5m434.8k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $357.4m2.2m shares |
| PEAK6 LLC | Added | $198.8m1.2m shares |
| JANE STREET GROUP, LLC | Added | $169.4m1.1m shares |
| CITADEL ADVISORS LLC | Reduced | $157.3m983.2k shares |
| Walleye Trading LLC | Added | $105.6m660.3k shares |
| IMC-Chicago, LLC | Added | $86.1m538.2k shares |
| JPMORGAN CHASE & CO | Added | $82.7m517.3k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Reduced | $54.8m342.5k shares |
| ROYAL BANK OF CANADA | Added | $48.0m300.0k shares |
| Parallax Volatility Advisers, L.P. | Reduced | $46.0m287.5k 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 Q2 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 Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| BAILLIE GIFFORD & CO 4.97% of their portfolio | 41.6m $6.7bn | Added +2.1m |
| WCM INVESTMENT MANAGEMENT, LLC 9.38% of their portfolio | 25.8m $4.1bn | Added +662.5k |
| BlackRock, Inc. 0.06% of their portfolio | 20.2m $3.2bn | Added +2.1m |
| JPMORGAN CHASE & CO 0.21% of their portfolio | 18.7m $3.0bn | Added +7.1m |
| TIGER GLOBAL MANAGEMENT LLC 7.53% of their portfolio | 16.0m $2.6bn | Unchanged |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.28% of their portfolio | 15.6m $2.5bn | Added +6.1m |
| FMR LLC 0.07% of their portfolio | 7.3m $1.2bn | Reduced -4.1m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.80% of their portfolio | 7.1m $1.1bn | Reduced -10.6k |
| NORGES BANK 0.14% of their portfolio | 6.9m $1.1bn | Reduced -7.9m |
| STATE STREET CORP 0.04% of their portfolio | 6.5m $1.0bn | Added +33.8k |
| SANDS CAPITAL MANAGEMENT, LLC 2.61% of their portfolio | 5.7m $908.1m | Reduced -1.1m |
| Artisan Partners Limited Partnership 1.25% of their portfolio | 5.3m $839.9m | Added +388.1k |
| Aspex Management (HK) Ltd 18.03% of their portfolio | 5.2m $828.6m | Reduced -667.3k |
| GOLDMAN SACHS GROUP INC 0.12% of their portfolio | 4.8m $766.9m | Reduced -2.0k |
| MORGAN STANLEY 0.05% of their portfolio | 4.5m $726.9m | Added +331.5k |
| JENNISON ASSOCIATES LLC 0.40% of their portfolio | 4.3m $682.4m | Added +1.7m |
| ACADIAN ASSET MANAGEMENT LLC 1.35% of their portfolio | 4.1m $652.6m | Reduced -696.6k |
| FIL Ltd 0.50% of their portfolio | 3.6m $582.9m | Added +210.8k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 1.52% of their portfolio | 3.6m $574.0m | Reduced -89.9k |
| VIKING GLOBAL INVESTORS LP 1.64% of their portfolio | 3.5m $565.7m | Reduced -623.1k |
| Kora Management LP 67.61% of their portfolio | 3.4m $550.1m | Reduced -528.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 3.4m $527.4m | Added +168.9k |
| CITIGROUP INC 0.35% of their portfolio | 3.1m $501.1m | Reduced -454.4k |
| NORTHERN TRUST CORP 0.07% of their portfolio | 3.0m $480.5m | Reduced -215.2k |
| Point72 Asset Management, L.P. 1.02% of their portfolio | 2.7m $433.2m | Reduced -345.4k |
| Capital Research Global Investors 0.08% of their portfolio | 2.6m $420.8m | Reduced -1.7m |
| Temasek Holdings (Private) Ltd 1.54% of their portfolio | 2.5m $395.9m | Unchanged |
| Clearbridge Investments, LLC 0.32% of their portfolio | 2.5m $394.0m | Added +19.6k |
| FRED ALGER MANAGEMENT, LLC 1.69% of their portfolio | 2.4m $378.2m | Reduced -220.5k |
| SEI INVESTMENTS CO 0.44% of their portfolio | 2.4m $376.2m | Reduced -23.2k |
| UBS Group AG 0.08% of their portfolio | 2.3m $374.8m | Added +1.0m |
| PRUDENTIAL PLC 2.24% of their portfolio | 2.3m $366.9m | Reduced -73.5k |
| Kontiki Capital Management (HK) Ltd. 20.50% of their portfolio | 2.2m $359.0m | Reduced -1.1m |
| Legal & General Group Plc 0.09% of their portfolio | 2.1m $343.2m | Added +81.7k |
| FRANKLIN RESOURCES INC 0.09% of their portfolio | 2.1m $328.6m | Added +517.5k |
| Mitsubishi UFJ Trust & Banking Corp 0.75% of their portfolio | 2.0m $324.9m | Added +1.3m |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 2.0m $320.7m | Added +302.1k |
| HSBC HOLDINGS PLC 0.20% of their portfolio | 1.9m $310.8m | Added +56.3k |
| TWO SIGMA ADVISERS, LP 0.62% of their portfolio | 1.9m $304.9m | Added +1.2m |
| Dorsal Capital Management, LP 8.42% of their portfolio | 1.9m $295.9m | Added +350.0k |
| WFM ASIA (BVI) Ltd 31.81% of their portfolio | 1.8m $295.7m | Reduced -121.5k |
| SCGE MANAGEMENT, L.P. 5.89% of their portfolio | 1.8m $280.7m | Reduced -405.0k |
| Ninety One UK Ltd 0.64% of their portfolio | 1.7m $271.8m | Added +15.8k |
| TWO SIGMA INVESTMENTS, LP 0.47% of their portfolio | 1.6m $262.5m | Added +602.2k |
| KENSICO CAPITAL MANAGEMENT CORP 4.95% of their portfolio | 1.6m $257.3m | Reduced -61.4k |
| Perpetual Ltd 2.94% of their portfolio | 1.6m $250.4m | Reduced -463.8k |
| EMINENCE CAPITAL, LP 3.65% of their portfolio | 1.5m $247.7m | Reduced -987.7k |
| WASATCH ADVISORS LP 1.28% of their portfolio | 1.5m $243.9m | Reduced -151.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.19% of their portfolio | 1.5m $241.1m | Added +517.4k |
| DEUTSCHE BANK AG\ 0.09% of their portfolio | 1.5m $239.7m | Reduced -127.7k |
| Arohi Asset Management PTE Ltd. 62.47% of their portfolio | 1.5m $232.5m | Added +42.4k |
| Whale Rock Capital Management LLC 3.13% of their portfolio | 1.4m $225.4m | New |
| D. E. Shaw & Co., Inc. 0.22% of their portfolio | 1.4m $218.4m | New |
| Castle Hook Partners LP 3.10% of their portfolio | 1.3m $211.0m | Reduced -352.8k |
| National Pension Service 0.18% of their portfolio | 1.3m $207.1m | Added +459.6k |
| OVERSEA-CHINESE BANKING Corp Ltd 5.84% of their portfolio | 1.3m $206.7m | Reduced -27.7k |
| Tree Line Advisors (Hong Kong) Ltd. 51.22% of their portfolio | 1.2m $196.7m | Unchanged |
| ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio | 1.2m $195.5m | Added +17.7k |
| Swiss National Bank 0.12% of their portfolio | 1.2m $192.9m | Added +182.8k |
| TORONTO DOMINION BANK 0.41% of their portfolio | 1.2m $191.9m | Added +29.4k |
| Nuveen, LLC 0.05% of their portfolio | 1.2m $189.1m | Reduced -65.2k |
| Invesco Ltd. 0.03% of their portfolio | 1.2m $184.8m | Reduced -933.3k |
| MARSHALL WACE, LLP 0.22% of their portfolio | 1.1m $181.2m | Reduced -2.2m |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 1.1m $177.6m | Added +461.0k |
| Ribbit Management Company, LLC 11.98% of their portfolio | 1.1m $176.0m | Unchanged |
| NATIONAL BANK OF CANADA /FI/ 0.18% of their portfolio | 1.1m $169.5m | Added +843.7k |
| Robeco Institutional Asset Management B.V. 0.26% of their portfolio | 1.0m $163.3m | Added +215.2k |
| Orbis Allan Gray Ltd 0.79% of their portfolio | 1.0m $162.7m | Added +188.6k |
| Sumitomo Mitsui Trust Group, Inc. 0.10% of their portfolio | 1.0m $161.3m | Added +18.2k |
| Foxhaven Asset Management, LP 3.66% of their portfolio | 949.0k $151.8m | New |
| Coronation Fund Managers Ltd. 8.19% of their portfolio | 944.6k $151.1m | Reduced -128.8k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.53% of their portfolio | 899.0k $143.8m | Added +631.9k |
| VANGUARD GROUP INC 0.00% of their portfolio | 889.2k $142.2m | Added +15.8k |
| BARCLAYS PLC 0.06% of their portfolio | 883.5k $141.3m | Reduced -279.1k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.12% of their portfolio | 880.5k $140.8m | Added +507.6k |
| Bridgewater Associates, LP 0.56% of their portfolio | 872.9k $139.6m | Added +367.2k |
| CITADEL ADVISORS LLC 0.12% of their portfolio | 840.5k $134.4m | Reduced -414.1k |
| LORD, ABBETT & CO. LLC 0.43% of their portfolio | 839.6k $134.3m | Reduced -265.6k |
| AVIVA PLC 0.27% of their portfolio | 830.7k $132.9m | Added +34.0k |
| Russell Investments Group, Ltd. 0.17% of their portfolio | 830.0k $132.7m | Added +64.8k |
| Qube Research & Technologies Ltd 0.18% of their portfolio | 826.4k $132.2m | Added +181.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.17% of their portfolio | 811.1k $129.7m | New |
| AXIOM INVESTORS LLC /DE 1.05% of their portfolio | 797.6k $127.6m | Reduced -365.9k |
| AGF MANAGEMENT LTD 0.57% of their portfolio | 783.7k $125.3m | Reduced -199.1k |
| CoreView Capital Management Ltd 15.99% of their portfolio | 766.3k $122.6m | Reduced -984.1k |
| WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio | 757.4k $121.1m | Added +625.8k |
| MACQUARIE GROUP LTD 0.15% of their portfolio | 745.4k $119.2m | Reduced -139.7k |
| Trivest Advisors Ltd 4.58% of their portfolio | 736.6k $117.8m | Added +96.6k |
| TD Asset Management Inc 0.10% of their portfolio | 730.7k $116.9m | Added +247.0k |
| Kinetic Partners Management, LP 6.10% of their portfolio | 697.1k $111.5m | Added +202.7k |
| 1832 Asset Management L.P. 0.19% of their portfolio | 694.5k $111.1m | Reduced -151.3k |
| COATUE MANAGEMENT LLC 0.30% of their portfolio | 666.3k $106.6m | Reduced -30.3k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.36% of their portfolio | 662.0k $105.9m | Reduced -96.3k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 650.4k $104.0m | Added +24.0k |
| Charles-Lim Capital Ltd 25.91% of their portfolio | 650.0k $104.0m | Reduced -150.0k |
| Palestra Capital Management LLC 3.07% of their portfolio | 647.1k $103.5m | New |
| Connor, Clark & Lunn Investment Management Ltd. 0.36% of their portfolio | 638.5k $102.1m | Reduced -9.4k |
| MILLENNIUM MANAGEMENT LLC 0.09% of their portfolio | 611.2k $97.8m | Added +416.0k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 604.8k $96.7m | Added +112.4k |
| JUPITER ASSET MANAGEMENT LTD 0.78% of their portfolio | 588.1k $94.1m | Added +240.4k |