Longleaf Partners, managed by Southeastern Asset Management, released its “Small-Cap Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund returned 2.03% in the third quarter, compared with the Russell 3000’s 8.18% and the Russell 2000’s 12.39%. For more information on the fund’s best picks in 2025, please check its top five holdings.
In its third-quarter 2025 investor letter, Longleaf Partners Small-Cap Fund highlighted stocks such as Tripadvisor, Inc. (NASDAQ:TRIP). Headquartered in Needham, Massachusetts, Tripadvisor, Inc. (NASDAQ:TRIP) is an online travel company. The one-month return of Tripadvisor, Inc. (NASDAQ:TRIP) was 3.11%, and its shares gained 7.92% of their value over the last 52 weeks. On December 01, 2025, Tripadvisor, Inc. (NASDAQ:TRIP) stock closed at $15.27 per share, with a market capitalization of $1.785 billion.
Longleaf Partners Small-Cap Fund stated the following regarding Tripadvisor, Inc. (NASDAQ:TRIP) in its third quarter 2025 investor letter:
"Tripadvisor, Inc. (NASDAQ:TRIP) – Digital travel and entertainment company TripAdvisor performed well in the quarter for two main reasons. First, the company reported another solid set of results with growth at the Viator and TheFork businesses outpacing the more mature TripAdvisor segment. The company also engaged in more accretive share repurchases. The stock price was also helped by activist investor Starboard filing a 13D, signaling that there are multiple paths to value realization. We wrote more about the company in our latest Research Perspectives note."
Why Tripadvisor (TRIP) is Skyrocketing? Tripadvisor, Inc. (NASDAQ:TRIP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Tripadvisor, Inc. (NASDAQ:TRIP) at the end of the third quarter, which was 40 in the previous quarter. Tripadvisor, Inc. (NASDAQ:TRIP) experienced a revenue growth of 4% in Q3 2025, totaling $553 million, with an adjusted EBITDA of $123 million, representing 22% of the revenue. While we acknowledge the potential of Tripadvisor, Inc. (NASDAQ:TRIP) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In another article, we covered Tripadvisor, Inc. (NASDAQ:TRIP) and shared the list of best breakout stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
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