Have a Look at Teewinot Capital’s Top Picks as Tiger Cub Firm Raises Capital for New Fund

#2. Controladora Vuela Co Avcn SA CV (ADR) (NYSE:VLRS)

– Shares owned by Teewinot Capital Advisors as of March 31: 478,700

– Value of Teewinot Capital Advisors’ holding as of March 31: $10.09 Million

The New York-based asset manager, run by Michael Moriarty, had 478,700 American Depositary Shares (ADSs) of Controladora Vuela Co Avcn SA CV (ADR) (NYSE:VLRS) at the end of the first quarter of 2016, 99,300 ADSs less than at the end of the final quarter of 2015. The trimmed position was worth $10.09 million on March 31 and made up 8.3% of the fund’s portfolio. The ADSs of the Mexican ultra-low-cost carrier are down a little less than 1% since the beginning of the year, mainly owing to a drop of nearly 17% in the past month. Controladora Vuela increased capacity, measured in available seat miles, by 15.8% year-over-year in April to meet strong demand in both its domestic and international markets. The company’s management intends to expand seat capacity by roughly 18% in 2016 and 19% in 2017. Moreover, the carrier launched five new year-round domestic routes in April and the company appears to have more growth opportunities ahead. Rob Citrone’s Discovery Capital Management was the owner of 2.95 million ADSs of Controladora Vuela Co Avcn SA CV (ADR) (NYSE:VLRS) at the end of March.

#1. Netflix Inc. (NASDAQ:NFLX)

– Shares owned by Teewinot Capital Advisors as of March 31: 169,000

– Value of Teewinot Capital Advisors’ holding as of March 31: $17.28 Million

Netflix Inc. (NASDAQ:NFLX) was the largest equity holding in Teewinot Capital Advisors’ portfolio at the end of the January-to-March quarter, accounting for 14.3% of the overall value of the entire portfolio. The hedge fund trimmed its Netflix stake by 9,546 shares during the first three months of the year to 169,000 shares, which were valued at $17.28 million on March 31. The world’s leading Internet television network has seen its market capitalization decline by 17% since the start of 2016, mainly due to worries over the company’s profitability, international expansion and competition. However, Netflix added a record number of 6.74 million subscribers during the first three months of 2016, more than the 4.88 million added during the same period of the prior year and more than its own guidance of 6.10 million. The company’s on-demand video streaming service reached a number of 81.50 million subscribers by the end of March, but the company’s guidance of 2.5 million additions for the current quarter might have disappointed investors. Tiger Global Management, founded by Chase Coleman, had roughly 18.00 million shares of Netflix Inc. (NASDAQ:NFLX) in its portfolio on March 31.

Disclosure: None