GreenWood Investors LLC, an investment management firm, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio was not performed as per the standard in the second quarter. The US-denominated Global Micro Fund was down 16.6% in the quarter, and its euro-denominated Luxembourg fund returned -17.0%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
GreenWood Investors discussed stocks like Tripadvisor, Inc. (NASDAQ:TRIP) in the second quarter investor letter. Headquartered in Needham, Massachusetts, Tripadvisor, Inc. (NASDAQ:TRIP) is an online travel company. September 16, 2022, Tripadvisor, Inc. (NASDAQ:TRIP) stock closed at $24.39 per share. One-month return of Tripadvisor, Inc. (NASDAQ:TRIP) was -3.67% and its shares lost 26.25% of their value over the last 52 weeks. Tripadvisor, Inc. (NASDAQ:TRIP) has a market capitalization of $3.411 billion.
Here is what GreenWood Investors specifically said about Tripadvisor, Inc. (NASDAQ:TRIP) in its Q2 2022 investor letter:
“Tripadvisor, Inc. (NASDAQ:TRIP)’s world class board has appointed a new CEO to optimize every aspect of its core business — something it has long gone without. Matt Goldberg’s background at The Trade Desk (TTD) and multiple direct-to-consumer web properties (such as the Lonely Planet) make him perfectly positioned to better monetize TripAdvisor’s long admired position as the world’s most visited travel website. The exciting part of Matt’s mission is that he wants to make core TripAdvisor great again, in its hotel auction, in the TripAdvisor Plus model, and in the new advertising verticals it has developed for hotels, restaurants and tour operators.
This year’s travel season is absolutely on fire, but there are substantially more legs to this rally. Americans are traveling abroad 30% less frequently than before Covid. This is a core demographic for TripAdvisor’s traffic and purchase intent. So while the market worries that certain travel businesses are experiencing peak earnings in 2022, we believe there is substantial room to run for those focused on a more international destination, like TripAdvisor. But the real upside will come from TripAdvisor’s determination to extract value from its two fastest-growing supply aggregation properties: Viator and The Fork. Both platforms dominate their respective fields and are aggressively acquiring new customers. Viator’s experiences supply is without comparison in the world, and it is currently processing twice the amount of transactions than it was prior to Covid. Given over 80% of travel experiences are still booked offline, Viator looks as attractive to us, if not more so, than booking.com did a few decades ago.”
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Tripadvisor, Inc. (NASDAQ:TRIP) is in not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Tripadvisor, Inc. (NASDAQ:TRIP) at the end of the second quarter which was 30 in the previous quarter.
We discussed Tripadvisor, Inc. (NASDAQ:TRIP) in another article and shared Baron Funds views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
