Top 5 Stocks That Kayak Investment Partners is Buying

3. Airbnb, Inc. (NASDAQ:ABNB)

Kayak Investment Partners added a further 60% of shares of Airbnb, Inc. (NASDAQ:ABNB) to its 13F portfolio during Q3, giving it 234,624 shares which were valued at $39.36 million at the end of the third quarter. The property rental platform has been fairly popular with hedge funds since its Q4 2020 IPO, with 58 long ABNB on September 30.

Airbnb, Inc. (NASDAQ:ABNB) has weathered the pandemic well and appeared poised to grow sales by an impressive 33% in Q4 compared to pre-pandemic levels even as its major competitors largely remain flat or even down. Airbnb, Inc. (NASDAQ:ABNB) will face tougher comps next year but hedge funds appear to believe that with the ongoing recovery in the travel industry, Airbnb is more than capable of meeting them head-on.

Tollymore Investment Partners, an investment management firm, published its third-quarter 2021 investor letter and mentioned Airbnb, Inc. (NASDAQ:ABNB). Here‘s what the fund said:

“Today disruptors are not typically seeking to replace incumbents entirely. Rather, they break the links in the customer journey, in doing so better aligning monetisation with value creation and minimising externalities. For example, Airbnb broke the link between staying in residential property and owning it. Airbnb is a specific example of a business model innovation which separated asset use from ownership. This is hardly a novel idea; it’s called renting. Rental models lend themselves to assets which are expensive and durable, and where usage is infrequent.”