Foxhaven Asset Management Shows Trivago Stake ~ market folly

Tuesday, February 7, 2017

Foxhaven Asset Management Shows Trivago Stake

Michael Pausic's hedge fund firm Foxhaven Asset Management has filed a 13G with the SEC regarding Trivago (TRVG).  Per the filing, Foxhaven now owns 8.7% of Trivago with over 2.61 million shares.

This is a newly disclosed equity position and the filing was made due to activity on January 25th.  TRVG recently completed its initial public offering (IPO) but is controlled by Expedia (EXPE), which owned 63.5% of the company as of the end of the third quarter in 2016.

At the end of the third quarter in 2016, Foxhaven also owned almost 800,000 shares of Expedia too.  They also had additional long exposure to the online travel booking segment via Priceline (PCLN) and MakeMyTrip (MMYT).

About Foxhaven Asset Management

This is the first time Foxhaven has been featured on the site.  Prior to founding the fund in 2013, Mike Pausic worked at Maverick Capital as head of the media and telecom team.  Foxhaven focuses on the technology, media, and telecom sector as well as consumer and internet. 

About Trivago

Per Google Finance, Trivago is "a company based in the Netherlands that operates an online hotel search platform. The platform allows users to search for, compare and book hotels. It gathers information from various third parties' platforms and provides information about the hotel, pictures, ratings, reviews and filters, such as price, location and extra options. The Company offers access to approximately 1.3 million hotels in over 190 countries via more than 50 localized websites and applications in various languages. The Company also offers marketing tools and services to hotels and hotel chains, as well as to online travel agencies and advertisers, among others. Its principal executive offices are located in Germany."

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