GreenWood Investors LLC just published its second quarter 2017 investor letter
You can find the full letter here:
The letter discusses the investment in TripAdvisor (TRIP), among others:
All of TRIP’s competitors are focused on the supply-side of the business. While both sides are important for a functioning market, only one company can adequately capture the demand. We believe influencing demand is more powerful than controlling supply, yet market valuations would suggest the opposite, with TRIP trading at the cheapest valuation in the industry. Recent results have shown that not only is the TRIP ecosystem growing quite rapidly, but engagement is accelerating.
The GreenWood model portfolio continues to include a lot of European stocks and special situation investments.