The start of 2024 has been promising for Hayden Capital's portfolio companies, which have capitalized on their strengths within their respective industries. The acceleration period anticipated last quarter appears to be coming to fruition.
Performance Overview
| Time Period | Hayden (Net) | S&P 500 (SPXTR) | MSCI World (ACWI) |
|---|---|---|---|
| 2014 (partial) | (4.9%) | 1.3% | (0.9%) |
| 2015 | 17.2% | 1.4% | (2.2%) |
| 2016 | 3.9% | 12.0% | 8.4% |
| 2017 | 28.2% | 21.8% | 24.4% |
| 2018 | (15.4%) | (4.4%) | (9.2%) |
| 2019 | 41.0% | 31.5% | 26.6% |
| 2020 | 222.4% | 18.4% | 16.3% |
| 2021 | (15.8%) | 28.7% | 18.7% |
| 2022 | (69.2%) | (18.1%) | (18.4%) |
| 2023 | 56.6% | 26.3% | 22.3% |
| 1st Quarter 2024 | 12.9% | 10.6% | 8.2% |
| Annualized Return | 10.8% | 12.7% | 9.0% |
| Total Return | |||
| 1 Year | 45.5% | 29.9% | 23.2% |
| 5 Years | 81.9% | 101.6% | 67.9% |
| Since Inception | 162.0% | 206.7% | 124.0% |
Market Dynamics and Key Players
In Southeast Asia, Sea Ltd continues to gain market share despite the fierce competition from TikTok. Applovin is successfully drawing advertising dollars away from Unity, which has faced operational challenges. New Oriental is expanding its tutoring centers as smaller competitors exit the market, and Coinbase has solidified its position as the leading crypto exchange.
These market leaders are seizing the opportunity to accelerate their growth...
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