Lakehouse Capital, a Sydney-based investment manager, released its “Lakehouse Global Growth Fund” November 2023 investor letter. A copy of the same can be downloaded here. During November, global equity markets performed well with the team focusing on tracking earnings reports of various portfolio companies. The portfolio’s holdings continue to perform well, displaying strong fundamentals and executing on their growth opportunities. The Fund returned 10.9% net of fees and expenses for the month compared to 4.3% for its benchmark. Since its inception in December 2017, the Fund has returned 124.8% compared to 75.0% for its benchmark, MSCI All Country World Index, Net Total Returns (AUD). In addition, please check the fund’s top five holdings to know its best picks in 2023.
Lakehouse Global Growth Fund featured stocks like Adyen N.V. (OTC:ADYEY) in its Q4 2023 investor letter. Headquartered in Amsterdam, the Netherlands, Adyen N.V. (OTC:ADYEY) is a payments platform. On March 5, 2024, Adyen N.V. (OTC:ADYEY) stock closed at $15.40 per share. One-month return of Adyen N.V. (OTC:ADYEY) was 20.95%, and its shares gained 6.90% of their value over the last 52 weeks. Adyen N.V. (OTC:ADYEY) has a market capitalization of $48.974 billion.
Lakehouse Global Growth Fund stated the following regarding Adyen N.V. (OTC:ADYEY) in its fourth quarter 2023 investor letter:
“At the portfolio level, the biggest contributor to performance during the month was Adyen N.V. (OTC:ADYEY) (+66.5%), whose shares surged in response to its 2023 Capital Markets Day held in early November. At the event management provided a strong Q3 business update and unveiled new growth targets along with a detailed pathway to achieve them. As we have discussed over the last few months, we did (and continue) to believe that Adyen’s unified global payments platform is far from a commodity solution. We viewed the recent share price weakness as an opportunity to increase the Funds holding in September and believe the business remains well placed to grow at 20%-plus over the medium term and continue gaining market share.”
A customer making a purchase at a modern retail store terminal, showing the ubiquity of the company’s payment solutions.
Adyen N.V. (OTC:ADYEY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Adyen N.V. (OTC:ADYEY) was held by 2 hedge fund portfolios, compared to 2 in the previous quarter, according to our database. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
