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 ($242.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $178.89. Options: 39 managers hold calls ($2.5bn notional), 36 hold puts ($2.4bn).
Trends to Q3 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 |
| Q3 2025 | 905 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q3 2025 | 490 | 380 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $2.2bn | $1.3bn | 0.58 |
| Q1 2025 | $1.9bn | $1.2bn | 0.64 |
| Q2 2025 | $2.5bn | $1.8bn | 0.71 |
| Q3 2025 | $2.5bn | $2.4bn | 0.96 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +30.7m |
| FMR LLC | Added | +3.5m |
| SCHRODER INVESTMENT MANAGEMENT GROUP | Added | +3.2m |
| Orbis Allan Gray Ltd | Added | +2.1m |
| LONE PINE CAPITAL LLC | New | +1.9m |
| JENNISON ASSOCIATES LLC | Added | +1.7m |
| Harding Loevner LP | New | +1.6m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +1.4m |
| D1 Capital Partners L.P. | New | +1.3m |
| Ninety One UK Ltd | Added | +1.3m |
Biggest sellers
| ACADIAN ASSET MANAGEMENT LLC | Reduced | -1.6m |
| BAILLIE GIFFORD & CO | Reduced | -1.5m |
| Castle Hook Partners LP | Reduced | -1.3m |
| Point72 Asset Management, L.P. | Reduced | -1.0m |
| GOLDMAN SACHS GROUP INC | Reduced | -908.0k |
| Aspex Management (HK) Ltd | Reduced | -889.5k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Reduced | -857.7k |
| SANDS CAPITAL MANAGEMENT, LLC | Reduced | -794.8k |
| WFM ASIA (BVI) Ltd | Reduced | -756.8k |
| Capital Research Global Investors | Reduced | -719.5k |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $537.0m3.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $432.9m2.4m shares |
| JANE STREET GROUP, LLC | Reduced | $322.1m1.8m shares |
| Walleye Trading LLC | Added | $136.2m762.3k shares |
| PEAK6 LLC | Added | $129.1m722.2k shares |
| MAPLELANE CAPITAL, LLC | Reduced | $107.2m600.0k shares |
| IMC-Chicago, LLC | Added | $105.5m590.5k shares |
| SG Americas Securities, LLC | Added | $66.2m651.5k shares |
| GOLDMAN SACHS GROUP INC | Added | $64.3m360.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $63.3m354.1k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $501.3m2.8m shares |
| JANE STREET GROUP, LLC | Added | $292.2m1.6m shares |
| PEAK6 LLC | Added | $287.2m1.6m shares |
| JPMORGAN CHASE & CO | Added | $242.9m1.4m shares |
| CITADEL ADVISORS LLC | Added | $241.2m1.3m shares |
| Walleye Trading LLC | Reduced | $108.9m609.2k shares |
| IMC-Chicago, LLC | Reduced | $85.7m479.3k shares |
| UBS Group AG | Added | $72.2m403.7k shares |
| D. E. Shaw & Co., Inc. | Added | $61.5m344.1k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Reduced | $56.8m318.0k 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 Q3 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 Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| JPMORGAN CHASE & CO 0.28% of their portfolio | 49.4m $8.8bn | Added +30.7m |
| BAILLIE GIFFORD & CO 5.31% of their portfolio | 40.1m $7.2bn | Reduced -1.5m |
| WCM INVESTMENT MANAGEMENT, LLC 9.84% of their portfolio | 26.1m $4.7bn | Added +246.0k |
| BlackRock, Inc. 0.06% of their portfolio | 20.6m $3.7bn | Added +432.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.32% of their portfolio | 17.0m $3.0bn | Added +1.4m |
| TIGER GLOBAL MANAGEMENT LLC 8.86% of their portfolio | 16.0m $2.9bn | Unchanged |
| FMR LLC 0.10% of their portfolio | 10.8m $1.9bn | Added +3.5m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.78% of their portfolio | 7.0m $1.2bn | Reduced -103.7k |
| STATE STREET CORP 0.04% of their portfolio | 6.6m $1.2bn | Added +88.2k |
| JENNISON ASSOCIATES LLC 0.62% of their portfolio | 6.0m $1.1bn | Added +1.7m |
| Artisan Partners Limited Partnership 1.30% of their portfolio | 5.1m $902.8m | Reduced -200.3k |
| SANDS CAPITAL MANAGEMENT, LLC 2.41% of their portfolio | 4.9m $872.8m | Reduced -794.8k |
| Aspex Management (HK) Ltd 16.39% of their portfolio | 4.3m $767.0m | Reduced -889.5k |
| MORGAN STANLEY 0.05% of their portfolio | 4.2m $749.6m | Reduced -350.4k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.57% of their portfolio | 4.1m $726.1m | Added +3.2m |
| GOLDMAN SACHS GROUP INC 0.10% of their portfolio | 3.9m $694.7m | Reduced -908.0k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 1.60% of their portfolio | 3.5m $619.0m | Reduced -124.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 3.4m $607.3m | Added +90.8k |
| UBS Group AG 0.12% of their portfolio | 3.4m $606.1m | Added +1.0m |
| Orbis Allan Gray Ltd 2.38% of their portfolio | 3.1m $555.1m | Added +2.1m |
| Kora Management LP 58.55% of their portfolio | 3.1m $551.4m | Reduced -354.4k |
| FIL Ltd 0.43% of their portfolio | 3.1m $546.0m | Reduced -589.7k |
| NORTHERN TRUST CORP 0.07% of their portfolio | 3.0m $543.6m | Added +36.9k |
| VIKING GLOBAL INVESTORS LP 1.41% of their portfolio | 3.0m $543.2m | Reduced -497.8k |
| Ninety One UK Ltd 0.58% of their portfolio | 3.0m $534.8m | Added +1.3m |
| FRED ALGER MANAGEMENT, LLC 2.01% of their portfolio | 2.9m $515.9m | Added +521.8k |
| Clearbridge Investments, LLC 0.35% of their portfolio | 2.6m $469.2m | Added +162.1k |
| SEI INVESTMENTS CO 0.48% of their portfolio | 2.5m $443.1m | Added +127.2k |
| ACADIAN ASSET MANAGEMENT LLC 0.77% of their portfolio | 2.5m $442.7m | Reduced -1.6m |
| Temasek Holdings (Private) Ltd 1.54% of their portfolio | 2.5m $442.4m | Unchanged |
| CITIGROUP INC 0.30% of their portfolio | 2.5m $440.1m | Reduced -670.6k |
| DEUTSCHE BANK AG\ 0.13% of their portfolio | 2.2m $393.6m | Added +703.4k |
| Mitsubishi UFJ Trust & Banking Corp 0.86% of their portfolio | 2.2m $392.8m | Added +165.9k |
| FRANKLIN RESOURCES INC 0.10% of their portfolio | 2.2m $390.5m | Added +130.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.30% of their portfolio | 2.1m $382.0m | Added +630.3k |
| Legal & General Group Plc 0.09% of their portfolio | 2.1m $380.4m | Reduced -17.5k |
| PRUDENTIAL PLC 2.74% of their portfolio | 2.1m $373.2m | Reduced -205.9k |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 2.0m $356.4m | Reduced -10.6k |
| MARSHALL WACE, LLP 0.39% of their portfolio | 2.0m $351.2m | Added +832.2k |
| Kontiki Capital Management (HK) Ltd. 18.40% of their portfolio | 1.9m $345.6m | Reduced -311.0k |
| Capital Research Global Investors 0.06% of their portfolio | 1.9m $341.7m | Reduced -719.5k |
| HSBC HOLDINGS PLC 0.20% of their portfolio | 1.9m $340.4m | Reduced -37.3k |
| LONE PINE CAPITAL LLC 2.43% of their portfolio | 1.9m $334.1m | New |
| D. E. Shaw & Co., Inc. 0.26% of their portfolio | 1.8m $324.8m | Added +452.2k |
| BARCLAYS PLC 0.11% of their portfolio | 1.7m $309.0m | Added +845.7k |
| SCGE MANAGEMENT, L.P. 5.95% of their portfolio | 1.7m $304.6m | Reduced -51.0k |
| Point72 Asset Management, L.P. 0.65% of their portfolio | 1.7m $297.3m | Reduced -1.0m |
| Dorsal Capital Management, LP 7.85% of their portfolio | 1.6m $290.4m | Reduced -225.0k |
| Bridgewater Associates, LP 1.12% of their portfolio | 1.6m $287.0m | Added +732.7k |
| Harding Loevner LP 2.05% of their portfolio | 1.6m $279.3m | New |
| WASATCH ADVISORS LP 1.49% of their portfolio | 1.6m $277.6m | Added +28.6k |
| EMINENCE CAPITAL, LP 3.89% of their portfolio | 1.5m $264.3m | Reduced -69.7k |
| OVERSEA-CHINESE BANKING Corp Ltd 6.67% of their portfolio | 1.4m $257.4m | Added +148.6k |
| National Pension Service 0.18% of their portfolio | 1.3m $236.9m | Added +30.6k |
| TORONTO DOMINION BANK 0.46% of their portfolio | 1.3m $236.1m | Added +121.1k |
| KENSICO CAPITAL MANAGEMENT CORP 3.63% of their portfolio | 1.3m $235.9m | Reduced -288.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.07% of their portfolio | 1.3m $234.6m | Added +90.5k |
| D1 Capital Partners L.P. 2.65% of their portfolio | 1.3m $231.0m | New |
| Arohi Asset Management PTE Ltd. 56.58% of their portfolio | 1.3m $223.6m | Reduced -202.7k |
| Evergreen Quality Fund GP, Ltd. 4.92% of their portfolio | 1.2m $221.9m | New |
| TWO SIGMA INVESTMENTS, LP 0.34% of their portfolio | 1.2m $220.2m | Reduced -409.4k |
| TWO SIGMA ADVISERS, LP 0.44% of their portfolio | 1.2m $219.5m | Reduced -678.2k |
| Perpetual Ltd 2.62% of their portfolio | 1.2m $211.4m | Reduced -383.2k |
| Whale Rock Capital Management LLC 2.44% of their portfolio | 1.2m $207.5m | Reduced -248.7k |
| Invesco Ltd. 0.03% of their portfolio | 1.2m $206.5m | Added +35 |
| Swiss National Bank 0.12% of their portfolio | 1.1m $204.4m | Reduced -62.7k |
| Russell Investments Group, Ltd. 0.22% of their portfolio | 1.1m $198.1m | Added +277.3k |
| Ribbit Management Company, LLC 9.34% of their portfolio | 1.1m $196.6m | Unchanged |
| Sumitomo Mitsui Trust Group, Inc. 0.11% of their portfolio | 1.1m $196.6m | Added +91.4k |
| WFM ASIA (BVI) Ltd 21.64% of their portfolio | 1.1m $195.1m | Reduced -756.8k |
| ROYAL BANK OF CANADA 0.03% of their portfolio | 1.1m $191.1m | Reduced -41.2k |
| Robeco Institutional Asset Management B.V. 0.27% of their portfolio | 1.0m $187.5m | Added +28.4k |
| Nuveen, LLC 0.05% of their portfolio | 995.4k $177.9m | Reduced -187.0k |
| Coronation Fund Managers Ltd. 9.23% of their portfolio | 989.9k $176.9m | Added +45.3k |
| BANK OF MONTREAL /CAN/ 0.07% of their portfolio | 986.4k $176.3m | Added +635.0k |
| AXIOM INVESTORS LLC /DE 1.28% of their portfolio | 971.8k $173.7m | Added +174.2k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.14% of their portfolio | 962.3k $172.0m | Added +577.2k |
| Tree Line Advisors (Hong Kong) Ltd. 31.15% of their portfolio | 940.0k $170.6m | Reduced -290.0k |
| VANGUARD GROUP INC 0.00% of their portfolio | 903.2k $161.4m | Added +14.0k |
| AMERIPRISE FINANCIAL INC 0.04% of their portfolio | 856.9k $153.2m | Added +252.1k |
| LORD, ABBETT & CO. LLC 0.44% of their portfolio | 833.3k $148.9m | Reduced -6.2k |
| Foxhaven Asset Management, LP 3.53% of their portfolio | 790.3k $141.2m | Reduced -158.8k |
| WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio | 772.1k $138.0m | Added +14.7k |
| TD Asset Management Inc 0.11% of their portfolio | 757.6k $135.4m | Added +27.0k |
| Ninety One North America, Inc. 3.06% of their portfolio | 745.0k $133.2m | Added +411.4k |
| ALLIANCEBERNSTEIN L.P. 0.04% of their portfolio | 743.5k $132.9m | Added +459.3k |
| CoreView Capital Management Ltd 14.47% of their portfolio | 736.3k $131.6m | Reduced -30.0k |
| MILLENNIUM MANAGEMENT LLC 0.10% of their portfolio | 710.0k $126.9m | Added +98.8k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.40% of their portfolio | 705.1k $126.0m | Added +43.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.16% of their portfolio | 692.7k $123.8m | Reduced -118.4k |
| MACQUARIE GROUP LTD 0.14% of their portfolio | 691.2k $123.5m | Reduced -54.2k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 685.7k $122.6m | Added +35.3k |
| COATUE MANAGEMENT LLC 0.29% of their portfolio | 666.3k $119.1m | Unchanged |
| AVIVA PLC 0.21% of their portfolio | 652.9k $116.7m | Reduced -177.8k |
| CIBC Private Wealth Group LLC 0.20% of their portfolio | 640.9k $114.5m | Added +635.3k |
| Trivest Advisors Ltd 3.57% of their portfolio | 626.0k $111.9m | Reduced -110.6k |
| Palestra Capital Management LLC 3.64% of their portfolio | 621.3k $111.1m | Reduced -25.8k |
| Kinetic Partners Management, LP 5.30% of their portfolio | 611.9k $109.4m | Reduced -85.2k |
| CITADEL ADVISORS LLC 0.09% of their portfolio | 603.7k $107.9m | Reduced -236.8k |
| Tredje AP-fonden 0.87% of their portfolio | 603.4k $107.8m | Added +403.4k |