Gabriel Plotkin’s Melvin Capital Portfolio: Top 5 Picks

1. Expedia Group, Inc. (NASDAQ:EXPE)

Mr. Plotkin’s Stake Value: $1 billion

Percentage of Mr. Plotkin’s 13F Portfolio: 5.85%

Number of Hedge Fund Holders: 87

Expedia Group, Inc. (NASDAQ:EXPE) is an online travel services provider that enables travelers to make sound decisions about their plans. Its services involve travel bookings, rental car services, accommodation marketing and booking provisions.

During the second quarter, Mr. Plotkin held 6.2 million Expedia Group, Inc. (NASDAQ:EXPE) shares. These were worth $1 billion and represented 5.85% of his overall portfolio. At the same time, 87 out of the 873 hedge funds polled by Insider Monkey had held a stake in the company.

Expedia Group, Inc. (NASDAQ:EXPE)’s largest investor by the second quarter was Daniel Sundheim’s D1 Capital Partners who owned 7.5 million shares worth $1.2 billion.

In its first-quarter 2021 investor letter, ClearBridge Investments had the following to say about the company:

“Several of our better performers in the first quarter were purchased while their business models were under stress from COVID restrictions or the macro environment the pandemic created. What gave us confidence in purchasing Expedia were the actions the company took to extend out their balance sheets until travel resumed. It should benefit as a broader vaccination rollout prompts cruise lines to resume operations and consumers to start traveling again and are positioned to deliver better margins and gain pricing power as the economy normalizes due to the cost controls implemented during the downturn.”

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