- Quarterly Letter 2026 | Vol. 1 Hayden Capital argues that the AI infrastructure trade has created attractive valuations in internet and fintech platforms, where incumbents can use proprietary data to capture AI’s value. It adds to Sea Ltd and Unity, citing Shopee’s VIP and logistics flywheel and Unity’s Vector advertising platform under new leadership. Q1 2026 -28.3% SE $72BU $20BAMZN $2.8TAPP $102B
One letter so far. We collect each new one as Hayden Capital publishes it.
