Hayden Capital
Our archive holds 6 letters from Hayden Capital, behind 10 investment theses. Every quote below is copied verbatim from the letter it came from.
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Theses · 10
- June 2026
Nvidia is presented as a differentiated scaled player whose earnings durability and ecosystem control support its value.
Read the full thesis - June 2026
Taiwan Semiconductor Manufacturing is grouped with the most predictable scaled AI winners because of its differentiated offering and pricing power.
Read the full thesis - June 2026
Shopee is seen as benefiting from reinvestment that is strengthening the business and generating attractive incremental ROIC.
Read the full thesis - June 2026
Mercado Libre is investing in logistics to grow buyers and transaction frequency, increasing customer value and long-term payoff potential.
Read the full thesis - June 2026
Pinduoduo is described as a misunderstood, highly leveraged ecommerce platform whose reinvestments have produced strong growth, cash generation, and high ROI.
Read the full thesis - March 2026
Sea Limited is a profitable Southeast Asian ecommerce leader with accelerating growth, strong free cash flow, and a reinvestment-driven moat expansion story.
Read the full thesis - March 2026
Unity Software is a mission-critical game engine and ad-tech platform with sticky usage, a new management team, and a data-driven monetization upside.
Read the full thesis - December 2025
Sea Limited is a dominant Southeast Asian e-commerce platform reinvesting offensively amid stabilizing competition, with attractive valuation and prospects for a wider moat and stronger long-term economics.
Read the full thesis - March 2025
Shopee is positioned for significant growth in Brazil, with potential for high returns on investment and plans to expand further into Latin America leveraging its established operations.
Read the full thesis - December 2024
Shopee is transforming into a logistics powerhouse with a ~$1.6BN investment in Shopee Express
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Letter archive · 6
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