Tiger Consumer to Close Down Fund; Netflix, Inc. (NFLX) Among Its Final New Picks

The second largest new position was in Tripadvisor Inc (NASDAQ:TRIP), with 808,800 shares worth $60.39 million. It’s also not the first time McCormack invested in Tripadvisor Inc (NASDAQ:TRIP), as he had previously opened a position on the online travel agency in the third quarter of 2012. He sold off the position over the next two quarters.

While he collected a small profit on that deal, in hindsight he sold out too early, as Tripadvisor Inc (NASDAQ:TRIP) continued to rise throughout 2013 and into early 2014, more than doubling from the beginning of 2013. McCormack again caught an old favorite on a swoon, as Tripadvisor struggled throughout the second half of 2014, shedding over 30% of its value, before rebounding early in 2015, up 15.2% for the year.

GrubHub Inc (NYSE:GRUB) was McCormack’s third choice out of new positions last quarter, as he initiated a position of 1.50 million shares worth $54.62 million, vaulting him to the top of the shareholder list among funds we track. The online and mobile platform for restaurant and delivery orders was a popular pick among tracked funds last quarter, with 32 funds having $375.17 million invested in GrubHub Inc (NYSE:GRUB), a large increase from the 16 funds which had $116.97 million invested at the end of the third quarter.

All of McCormack’s top new positions appear to have paid dividends (not literal dividends, but figurative ones), as all had strong returns thus far in 2015, contributing to the fund’s good performance. GrubHub Inc (NYSE:GRUB) is up 17.29% year-to-date.

The Insider Monkey team wishes Patrick McCormack and the entire Tiger Consumer Management team all the best in the next phase of their lives.

Disclosure: None