Letters by company
Expedia Group, Inc.
4 letters discussing EXPE. Everything written about it on this site is on its ticker page.
- Patient Capital Management 4Q24 Portfolio Activity and Attribution Patient Opportunity Equity Strategy added Precigen preferreds and warrants and a Bitcoin fund, while exiting Fiserv, PureTech Health, Travel & Leisure and Western Alliance. The strategy added to healthcare and energy laggards, arguing that Coinbase, SoFi and travel holdings retain structural growth drivers. 4Q24 COIN $47BCROX $5.5BCVS $112B
- Patient Capital Management 3Q24 Portfolio Activity and Attribution Patient Opportunity Equity added QXO and Dave & Buster’s, funded in part by exits from JPMorgan and Everi following its acquisition. The portfolio argues that QXO’s acquisition-led building-products strategy, Kosmos’s approaching cash-flow inflection, and Seadrill’s tightening deepwater-rig market offer idiosyncratic upside beyond macro conditions. 3Q24 BABA $270BET $70BEXPE $31B
- Patient Capital Management 3Q25 Portfolio Recap Patient Opportunity Equity built Precigen through a preferred investment ahead of Papzimeos approval, then converted shares and trimmed the enlarged exposure while backing its HPV and CAR-T pipeline. It added aggressively to UnitedHealth amid insurance-cycle pressures, and redeployed toward Crocs, Mattel, IAC and Biogen as valuations rose. 3Q25 PGEN $2.8BUNH $338B
- Broyhill Asset Management The Broyhill Letter Q1 2025 Broyhill favored globally diversified, undervalued assets as tariff uncertainty and US market concentration increased, while re-underwriting every holding for recession and tariff risks. It trimmed Philip Morris, added Baxter and Avantor on weakness, initiated Uber and Dollar Tree, built offshore oil exposure, and exited Nintendo after the Switch 2 announcement. Q1 2025 AVTR $11BBAX $13BDLTR $22B
