SGA Initiates Sea Limited Position, Andra AP Boosts Stake by 7%
SGA’s Emerging Markets Growth Strategy started a Sea Limited position in Q4 2025, citing its integrated e-commerce, digital payments and gaming ecosystem and projecting 13% annual revenue growth. Andra AP fonden raised its stake by 7% to 144,300 shares after a 6% one-month drop and 14% annual decline.
1. SGA Initiates Sea Limited Position
SGA’s Emerging Markets Growth Strategy letter for Q4 2025 initiated a position in Sea Limited, citing low e-commerce penetration, localized logistics and an integrated digital ecosystem. The fund projects 13% annual revenue growth and 16% earnings growth for the company over the next three years.
2. Business Model and Growth Outlook
Sea Limited’s Shopee e-commerce platform, Garena gaming unit and Monee digital financial services leverage mobile adoption, user data and market-specific content to drive engagement. Management plans near-term margin volatility as it expands fulfillment infrastructure and launches free shipping membership, prioritizing long-term competitive moats.
3. Fund Flows and Share Performance
Andra AP fonden boosted its stake by 7% to 144,300 shares in the most recent quarter. Sea’s shares closed at $110.92 on February 26, 2026, down 6.3% over one month and 14.3% over the past 12 months, while hedge fund positions increased from 102 to 113 in Q4.