Vltava Fund’s Q1 2026 letter, titled “Sport and Investing,” compares sports and investing, highlighting key market themes. A copy of the letter is available to download here. January focused on artificial intelligence, followed by the Iran war, which impacted businesses in the short- and long-term. Later, private credit gained attention amid rising interest rates, defaults, and liquidity issues. Market volatility increased, creating more opportunities and prompting greater activity to generate value for the portfolio. Please review the Fund’s top five holdings to gain insights into their key selections for 2026.
In its first-quarter 2026 investor letter, Vltava Fund highlighted Booking Holdings Inc. (NASDAQ:BKNG). Headquartered in Norwalk, Connecticut, Booking Holdings Inc. (NASDAQ:BKNG) is a leading online travel booking platform. On April 13, 2026, Booking Holdings Inc. (NASDAQ:BKNG) closed at $177.25 per share. One-month return of Booking Holdings Inc. (NASDAQ:BKNG) was -0.25%, and its shares lost 3.93% over the past 52 weeks. Booking Holdings Inc. (NASDAQ:BKNG) has a market capitalization of $140.35 billion.
Vltava Fund stated the following regarding Booking Holdings Inc. (NASDAQ:BKNG) in its Q1 2026 investor letter:
“Booking Holdings Inc. (NASDAQ:BKNG) probably needs little introduction. We know that many of you use its services regularly. Booking Holdings is a global online travel booking platform headquartered in the U.S. Through its websites and apps, it connects customers with providers of accommodations, airline tickets, car rentals, and other travel services. The group’s best-known brand is Booking.com, one of the world’s largest platforms for reserving hotels and short-term accommodations. The group also includes Priceline, Agoda, KAYAK, Rentalcars.com, and OpenTable. Its business model is primarily commission-based; the company collects a fee from every reservation made through its platforms. Thanks to a global network of millions of accommodation properties and a strong brand, the company benefits from significant network effects: the more accommodation options available on the platform, the more customers it attracts, and vice versa. Booking Holdings has long been among the most profitable firms in the travel industry and generates very high free cash flow.”
Booking Holdings Inc. (NASDAQ:BKNG) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 109 hedge fund portfolios held Booking Holdings Inc. (NASDAQ:BKNG) at the end of the fourth quarter, up from 95 in the previous quarter. While we acknowledge the risk and potential of Booking Holdings Inc. (NASDAQ:BKNG) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Booking Holdings Inc. (NASDAQ:BKNG) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Booking Holdings Inc. (NASDAQ:BKNG) and shared the list of stocks set to explode in the next 3 years. In addition, please check out our hedge fund investor letters Q1 2026 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.
