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Russian (RU) Soumya Eswaran
Wed, Apr 16, 2025, 7:39 AM 3 min read
In This Article:
Middle Coast Investing, an investment advisor firm, released its first-quarter investor letter. A copy of the letter can be downloaded here. Middle Coast Investing had a difficult but manageable first quarter, but everyone has suffered since the Liberation Day crash at the beginning of the second quarter. To manage the volatility, the firm decided to increase cash goal levels by roughly 5% for each portfolio. In the quarter, the firm sold 3% more than it bought. In Q1 2025, the US Portfolios returned -3.7% compared to -4.6% for the S&P 500. It’s Core U.S. portfolios returned -0.7% while Russell 2000 returned -9.8%, S&P 600 returned -9.3% and Nasdaq generated -10.4% for the same period. However, its European Portfolios appreciated by 9.2%. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its first quarter 2025 investor letter, Middle Coast Investing emphasized 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 -19.92%, and its shares lost 53.31% of their value over the last 52 weeks. On April 15, 2025, Tripadvisor, Inc. (NASDAQ:TRIP) stock closed at $11.86 per share with a market capitalization of $1.66 billion.
Middle Coast Investing stated the following regarding Tripadvisor, Inc. (NASDAQ:TRIP) in its Q1 2025 investor letter:
"Vimeo and Tripadvisor, Inc. (NASDAQ:TRIP) reported earnings around the same time and faced the same market reaction, for similar reasons, I think. Each saw takeover interest last year. Each has a unit or strategy that is growing fast – enterprise sales for Vimeo, Viator for TripAdvisor – that is leading the business, but also a declining legacy business that is hurting overall sales growth. I think investors hoped that both companies would have either news about a sale or some sort of ‘we plan to batten down the hatches and wait for profitability’ statement, rather than ‘we plan to grow in 2025 and 2026,’ which is essentially what both said. Growth requires investment.
A family boarding an airplane with their suitcases, symbolic of the company's reach into the global travel industry.
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