Letters by company

Recruit Holdings Co Ltd

1 letter discussing RCRRF. Everything written about it on this site is on its ticker page.

Hayden Capital Q3 2025 Quarterly Letter Hayden Capital argues that speculative technology bubbles can finance infrastructure, skills and consumer adoption that enable more durable businesses in a later deployment phase. The portfolio has avoided AI infrastructure winners while awaiting clearer applications and valuations. Timee is presented as Japan’s dominant spot-work marketplace, benefiting from labor shortages, dense liquidity and Mercari Hallo’s exit. 3rd Quarter 215A $1.1BMCARY $4.8B