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TripAdvisor
TRIP

399 hedge funds and large institutions have $8.35B invested in TripAdvisor in 2016 Q1 according to their latest regulatory filings, with 49 funds opening new positions, 156 increasing their positions, 136 reducing their positions, and 50 closing their positions.

New
Increased
Maintained
Reduced
Closed

15% more repeat investments, than reductions

Existing positions increased: 156 | Existing positions reduced: 136

13% more call options, than puts

Call options by funds: $120M | Put options by funds: $106M

1% less funds holding

Funds holding: 402 → 399 (-3)

2% less first-time investments, than exits

New positions opened: 49 | Existing positions closed: 50

20% less funds holding in top 10

Funds holding in top 10: 10 → 8 (-2)

25% less capital invested

Capital invested by funds: $11.1B → $8.35B (-$2.79B)

Holders
399
Holders Change
-3
Holders Change %
-0.75%
% of All Funds
10.63%
Holding in Top 10
8
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-20%
% of All Funds
0.21%
New
49
Increased
156
Reduced
136
Closed
50
Calls
$120M
Puts
$106M
Net Calls
+$13.9M
Net Calls Change
+$8.73M

Top Buyers

1
Royal London Asset Management
Royal London Asset Management
United Kingdom
+$107M
2
PCM
PAR Capital Management
Massachusetts
+$100M
3
HCM
Highfields Capital Management
Massachusetts
+$56.5M
4
Blackstone Inc
Blackstone Inc
New York
+$47.6M
5
SPC
Slate Path Capital
New York
+$37.9M

Top Sellers

1
EC
Eminence Capital
New York
-$161M
2
MCMC
Matrix Capital Management Company
New Hampshire
-$122M
3
Fidelity Investments
Fidelity Investments
Massachusetts
-$83.6M
4
CCM
Criterion Capital Management
California
-$65.6M
5
BCPEM
Bain Capital Public Equity Management
Massachusetts
-$60.3M
Name Holding Trade Value Shares
Change 		Change in
Stake
JSP
1
Jackson Square Partners
California
$677M +$28.9M +436,939 +5%
Baillie Gifford & Co
2
Baillie Gifford & Co
United Kingdom
$666M +$10.3M +155,994 +2%
Vanguard Group
3
Vanguard Group
Pennsylvania
$647M +$20.3M +307,255 +3%
Brown Advisory
4
Brown Advisory
Maryland
$475M +$24.2M +366,140 +5%
Bank of New York Mellon
5
Bank of New York Mellon
New York
$327M +$6.18M +93,340 +2%
State Street
6
State Street
Massachusetts
$301M +$157K +2,374 +0.1%
Fidelity Investments
7
Fidelity Investments
Massachusetts
$289M -$83.6M -1,263,281 -23%
HCM
8
Highfields Capital Management
Massachusetts
$270M +$56.5M +852,812 +27%
PCM
9
PAR Capital Management
Massachusetts
$213M +$100M +1,515,600 +90%
BIT
10
BlackRock Institutional Trust
California
$203M -$636K -9,611 -0.3%
MNA
11
Manning & Napier Advisors
New York
$198M +$8.7M +131,347 +5%
T. Rowe Price Associates
12
T. Rowe Price Associates
Maryland
$194M +$1.74M +26,284 +0.9%
Wellington Management Group
13
Wellington Management Group
Massachusetts
$182M +$26.7M +403,440 +17%
Macquarie Group
14
Macquarie Group
Australia
$173M +$12.4M +187,552 +8%
UBS AM
15
UBS AM
Illinois
$138M -$6.02M -90,887 -4%
BIM
16
BlackRock Investment Management
Delaware
$124M -$18.3M -276,066 -13%
BFA
17
BlackRock Fund Advisors
California
$116M -$3.11M -46,910 -3%
BA
18
BlackRock Advisors
Delaware
$115M -$23M -347,935 -17%
SPC
19
Slate Path Capital
New York
$105M +$37.9M +572,727 +57%
Fidelity International
20
Fidelity International
Bermuda
$104M -$47.3M -714,177 -31%
First Trust Advisors
21
First Trust Advisors
Illinois
$103M -$1.75M -26,402 -2%
WRF
22
Waddell & Reed Financial
Kansas
$89.5M -$2.37M -35,800 -3%
PPA
23
Parametric Portfolio Associates
Washington
$89M +$5.73M +86,582 +7%
Invesco
24
Invesco
Georgia
$87.9M -$2.64M -39,834 -3%
Morgan Stanley
25
Morgan Stanley
New York
$87.7M +$37.2M +562,484 +74%
1
2 3 4 5

TRIP Hedge Fund Activity: Q1 2016 in Review

399 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in TripAdvisor (TRIP) for Q1 2016, worth a combined $8.35B — down 25% from $11.1B a quarter earlier.

Sellers outnumbered buyers: 50 funds closed out of TRIP and 49 opened new positions — a net loss of 1 holder — while 136 trimmed existing stakes and 156 added.

The largest buyer was Royal London Asset Management, adding an estimated $107M. The largest seller was Eminence Capital, cutting an estimated $161M.

  • 399 institutional investors held TripAdvisor (TRIP) as of Q1 2016, down from 402 in Q4 2015.
  • Funds reported $8.35B of TripAdvisor stock for Q1 2016, down 25% quarter-over-quarter.
  • 49 funds opened new TripAdvisor positions in Q1 2016 and 50 closed out, a net change of -1 holder.
  • The largest TripAdvisor buyer in Q1 2016 was Royal London Asset Management, an estimated $107M added.
  • The largest TripAdvisor seller in Q1 2016 was Eminence Capital, an estimated $161M sold.

Based on aggregated 13F filings for Q1 2016.