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 ($87.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $127.58. Options: 38 managers hold calls ($1.1bn notional), 33 hold puts ($953.0m).
Trends to Q4 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 |
| Q4 2025 | 874 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q4 2025 | 418 | 473 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $1.9bn | $1.2bn | 0.64 |
| Q2 2025 | $2.5bn | $1.8bn | 0.71 |
| Q3 2025 | $2.5bn | $2.4bn | 0.96 |
| Q4 2025 | $1.1bn | $953.0m | 0.89 |
Biggest buyers
| FMR LLC | Added | +6.7m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +3.5m |
| Point72 Asset Management, L.P. | Added | +3.2m |
| D1 Capital Partners L.P. | Added | +2.2m |
| Capital Research Global Investors | Added | +2.1m |
| HSBC HOLDINGS PLC | Added | +2.0m |
| SCHRODER INVESTMENT MANAGEMENT GROUP | Added | +1.9m |
| UBS Group AG | Added | +1.8m |
| Coronation Fund Managers Ltd. | Added | +1.2m |
| MORGAN STANLEY | Added | +1.2m |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -28.0m |
| JENNISON ASSOCIATES LLC | Reduced | -4.4m |
| Ninety One UK Ltd | Reduced | -2.9m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -2.5m |
| ACADIAN ASSET MANAGEMENT LLC | Reduced | -2.4m |
| LONE PINE CAPITAL LLC | Sold out | -1.9m |
| MARSHALL WACE, LLP | Reduced | -1.7m |
| D. E. Shaw & Co., Inc. | Reduced | -1.5m |
| BAILLIE GIFFORD & CO | Reduced | -1.3m |
| Whale Rock Capital Management LLC | Sold out | -1.2m |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $235.0m1.8m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $232.8m1.8m shares |
| MAPLELANE CAPITAL, LLC | Reduced | $70.2m555.0k shares |
| IMC-Chicago, LLC | Reduced | $67.0m525.5k shares |
| BARCLAYS PLC | Added | $66.1m518.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $43.7m342.4k shares |
| JANE STREET GROUP, LLC | Reduced | $42.1m330.1k shares |
| GOLDMAN SACHS GROUP INC | Reduced | $41.1m322.5k shares |
| Squarepoint Ops LLC | Reduced | $31.3m245.0k shares |
| UBS Group AG | Reduced | $29.7m233.0k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $193.4m1.5m shares |
| CITADEL ADVISORS LLC | Reduced | $136.2m1.1m shares |
| D. E. Shaw & Co., Inc. | Added | $90.5m709.8k shares |
| JANE STREET GROUP, LLC | Reduced | $67.0m525.1k shares |
| IMC-Chicago, LLC | Reduced | $51.9m406.6k shares |
| UBS Group AG | Reduced | $46.5m364.3k shares |
| Walleye Trading LLC | Reduced | $45.3m355.0k shares |
| Parallax Volatility Advisers, L.P. | Reduced | $32.2m252.5k shares |
| PEAK6 LLC | Reduced | $30.7m241.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $25.4m199.0k 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 Q4 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 Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| BAILLIE GIFFORD & CO 4.11% of their portfolio | 38.8m $4.9bn | Reduced -1.3m |
| WCM INVESTMENT MANAGEMENT, LLC 6.83% of their portfolio | 25.9m $3.3bn | Reduced -190.7k |
| JPMORGAN CHASE & CO 0.18% of their portfolio | 21.5m $2.7bn | Reduced -28.0m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.28% of their portfolio | 20.5m $2.6bn | Added +3.5m |
| BlackRock, Inc. 0.04% of their portfolio | 20.4m $2.6bn | Reduced -257.2k |
| FMR LLC 0.11% of their portfolio | 17.5m $2.2bn | Added +6.7m |
| TIGER GLOBAL MANAGEMENT LLC 6.62% of their portfolio | 15.4m $2.0bn | Reduced -625.5k |
| STATE STREET CORP 0.03% of their portfolio | 7.1m $899.4m | Added +480.7k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.58% of their portfolio | 6.0m $765.8m | Added +1.9m |
| SANDS CAPITAL MANAGEMENT, LLC 2.13% of their portfolio | 5.5m $701.8m | Added +617.8k |
| MORGAN STANLEY 0.04% of their portfolio | 5.4m $687.9m | Added +1.2m |
| UBS Group AG 0.13% of their portfolio | 5.2m $657.4m | Added +1.8m |
| Point72 Asset Management, L.P. 0.98% of their portfolio | 4.9m $625.5m | Added +3.2m |
| Artisan Partners Limited Partnership 0.95% of their portfolio | 4.9m $619.6m | Reduced -194.3k |
| NORGES BANK 0.06% of their portfolio | 4.5m $576.4m | Not comparable |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.34% of their portfolio | 4.5m $573.2m | Reduced -2.5m |
| GOLDMAN SACHS GROUP INC 0.08% of their portfolio | 4.1m $528.8m | Added +258.1k |
| Capital Research Global Investors 0.09% of their portfolio | 4.0m $512.2m | Added +2.1m |
| HSBC HOLDINGS PLC 0.14% of their portfolio | 3.9m $498.1m | Added +2.0m |
| VIKING GLOBAL INVESTORS LP 1.24% of their portfolio | 3.7m $468.4m | Added +632.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 3.6m $449.0m | Added +122.1k |
| D1 Capital Partners L.P. 4.15% of their portfolio | 3.5m $444.6m | Added +2.2m |
| Aspex Management (HK) Ltd 8.74% of their portfolio | 3.4m $430.3m | Reduced -918.4k |
| Temasek Holdings (Private) Ltd 1.36% of their portfolio | 3.3m $421.4m | Added +828.0k |
| Kora Management LP 53.27% of their portfolio | 3.1m $399.9m | Added +50.0k |
| NORTHERN TRUST CORP 0.05% of their portfolio | 3.1m $396.3m | Added +65.3k |
| FRED ALGER MANAGEMENT, LLC 1.38% of their portfolio | 2.8m $353.0m | Reduced -119.3k |
| Orbis Allan Gray Ltd 1.45% of their portfolio | 2.7m $346.5m | Reduced -389.9k |
| EMINENCE CAPITAL, LP 5.33% of their portfolio | 2.6m $337.0m | Added +1.2m |
| FIL Ltd 0.25% of their portfolio | 2.6m $334.8m | Reduced -430.4k |
| DEUTSCHE BANK AG\ 0.10% of their portfolio | 2.5m $317.5m | Added +286.6k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.84% of their portfolio | 2.4m $302.4m | Reduced -1.1m |
| SEI INVESTMENTS CO 0.30% of their portfolio | 2.3m $299.5m | Reduced -131.4k |
| CITIGROUP INC 0.20% of their portfolio | 2.3m $291.4m | Reduced -177.9k |
| BARCLAYS PLC 0.12% of their portfolio | 2.2m $286.6m | Added +517.3k |
| Coronation Fund Managers Ltd. 12.79% of their portfolio | 2.2m $285.2m | Added +1.2m |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 2.2m $279.1m | Added +193.4k |
| FRANKLIN RESOURCES INC 0.07% of their portfolio | 2.1m $273.5m | Reduced -40.7k |
| Mitsubishi UFJ Trust & Banking Corp 0.64% of their portfolio | 2.1m $270.7m | Reduced -75.8k |
| PRUDENTIAL PLC 2.16% of their portfolio | 2.1m $269.3m | Added +23.2k |
| Clearbridge Investments, LLC 0.21% of their portfolio | 2.0m $259.6m | Reduced -590.1k |
| Legal & General Group Plc 0.05% of their portfolio | 1.9m $243.8m | Reduced -217.3k |
| KENSICO CAPITAL MANAGEMENT CORP 4.08% of their portfolio | 1.9m $239.9m | Added +560.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.15% of their portfolio | 1.8m $235.7m | Reduced -289.6k |
| OVERSEA-CHINESE BANKING Corp Ltd 6.31% of their portfolio | 1.8m $228.5m | Added +350.8k |
| SCGE MANAGEMENT, L.P. 5.16% of their portfolio | 1.8m $226.4m | Added +71.0k |
| TWO SIGMA INVESTMENTS, LP 0.33% of their portfolio | 1.7m $218.2m | Added +478.7k |
| JENNISON ASSOCIATES LLC 0.12% of their portfolio | 1.6m $206.6m | Reduced -4.4m |
| SG Americas Securities, LLC 0.26% of their portfolio | 1.5m $197.1m | Added +1.1m |
| Bridgewater Associates, LP 0.71% of their portfolio | 1.5m $195.6m | Reduced -72.4k |
| WFM ASIA (BVI) Ltd 23.94% of their portfolio | 1.5m $192.8m | Added +419.5k |
| Harding Loevner LP 1.68% of their portfolio | 1.5m $191.2m | Reduced -64.3k |
| AMERIPRISE FINANCIAL INC 0.04% of their portfolio | 1.5m $187.0m | Added +615.2k |
| WASATCH ADVISORS LP 1.11% of their portfolio | 1.5m $186.3m | Reduced -92.7k |
| TWO SIGMA ADVISERS, LP 0.36% of their portfolio | 1.5m $185.9m | Added +229.0k |
| TORONTO DOMINION BANK 0.31% of their portfolio | 1.4m $177.8m | Added +73.1k |
| Kontiki Capital Management (HK) Ltd. 10.09% of their portfolio | 1.4m $173.5m | Reduced -573.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio | 1.2m $149.9m | Reduced -137.5k |
| NATIONAL BANK OF CANADA /FI/ 0.15% of their portfolio | 1.2m $147.6m | Added +569.9k |
| RENAISSANCE TECHNOLOGIES LLC 0.23% of their portfolio | 1.2m $147.2m | Added +461.1k |
| Arohi Asset Management PTE Ltd. 43.32% of their portfolio | 1.1m $144.4m | Reduced -119.4k |
| Balyasny Asset Management L.P. 0.26% of their portfolio | 1.1m $140.0m | Added +1.1m |
| Swiss National Bank 0.08% of their portfolio | 1.1m $139.8m | Reduced -47.3k |
| Perpetual Ltd 2.02% of their portfolio | 1.1m $139.8m | Reduced -86.8k |
| Dorsal Capital Management, LP 4.82% of their portfolio | 1.1m $137.1m | Reduced -550.0k |
| Sumitomo Mitsui Trust Group, Inc. 0.08% of their portfolio | 1.1m $134.4m | Reduced -46.1k |
| Ribbit Management Company, LLC 6.39% of their portfolio | 1.0m $128.9m | Reduced -90.0k |
| INFINITUM ASSET MANAGEMENT, LLC 19.00% of their portfolio | 1.0m $128.4m | Added +498.4k |
| Foxhaven Asset Management, LP 3.13% of their portfolio | 996.4k $127.1m | Added +206.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.10% of their portfolio | 946.5k $120.7m | Reduced -15.8k |
| Nuveen, LLC 0.03% of their portfolio | 944.3k $120.5m | Reduced -51.1k |
| Duquesne Family Office LLC 2.85% of their portfolio | 944.1k $120.4m | Added +669.9k |
| Kinetic Partners Management, LP 5.82% of their portfolio | 941.1k $120.1m | Added +329.2k |
| Tree Line Advisors (Hong Kong) Ltd. 27.32% of their portfolio | 940.0k $119.9m | Unchanged |
| VANGUARD GROUP INC 0.00% of their portfolio | 916.6k $116.9m | Added +13.4k |
| Russell Investments Group, Ltd. 0.12% of their portfolio | 875.4k $111.7m | Reduced -231.9k |
| CITADEL ADVISORS LLC 0.07% of their portfolio | 859.1k $109.6m | Added +255.3k |
| CoreView Capital Management Ltd 13.76% of their portfolio | 855.5k $109.1m | Added +119.2k |
| Robeco Institutional Asset Management B.V. 0.15% of their portfolio | 846.6k $108.0m | Reduced -202.6k |
| Carrhae Capital LLP 7.17% of their portfolio | 843.6k $107.6m | Added +310.5k |
| Invesco Ltd. 0.01% of their portfolio | 831.0k $106.0m | Reduced -324.4k |
| Anomaly Capital Management, LP 3.81% of their portfolio | 830.4k $105.9m | Added +516.3k |
| Tiger Pacific Capital LP 28.27% of their portfolio | 828.4k $105.7m | Added +369.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio | 828.2k $105.6m | Added +56.1k |
| MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio | 780.8k $99.6m | Added +70.8k |
| Sustainable Growth Advisers, LP 0.67% of their portfolio | 760.4k $97.0m | New |
| Charles-Lim Capital Ltd 25.95% of their portfolio | 750.0k $95.7m | Added +475.0k |
| Evergreen Quality Fund GP, Ltd. 1.86% of their portfolio | 737.7k $94.1m | Reduced -503.8k |
| State of Tennessee, Department of Treasury 0.27% of their portfolio | 718.9k $83.8m | Added +175.7k |
| National Pension Service 0.07% of their portfolio | 704.3k $89.9m | Reduced -621.1k |
| AVIVA PLC 0.15% of their portfolio | 677.3k $86.4m | Added +24.4k |
| Capitolis Liquid Global Markets LLC 0.51% of their portfolio | 674.0k $86.0m | New |
| Bank of New York Mellon Corp 0.02% of their portfolio | 670.5k $85.5m | Reduced -15.2k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.13% of their portfolio | 657.7k $83.9m | First filing |
| KEYSTONE INVESTORS PTE LTD 7.52% of their portfolio | 656.7k $83.8m | Added +75.1k |
| Man Group plc 0.16% of their portfolio | 650.4k $83.0m | Added +184.5k |
| MAPLELANE CAPITAL, LLC 4.60% of their portfolio | 634.0k $80.9m | Added +217.0k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.25% of their portfolio | 620.6k $79.2m | Reduced -84.5k |
| Baird Financial Group, Inc. 0.12% of their portfolio | 618.5k $78.9m | Added +60.3k |
| CAPITAL FUND MANAGEMENT S.A. 0.73% of their portfolio | 602.9k $76.9m | Added +263.0k |