What smart money is saying about Trip.com
9961.HK
No fund has written a full thesis on Trip.com in our archive, but 3 fund letters report a position in it — most recently Brandes IP International Equity Fund in June 2026.
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3
Reported positions
0
Bought
0
Sold
3
Letters
Position history
Between Q3 2025 and Q2 2026, 3 fund letters reported a position in Trip.com, with no move described.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 1 | 0 | 0 | 0 |
| Q3 2025 | 2 | 0 | 0 | 0 |
Fund activity · 3 positions
- June 2026
“Additional detractors included China-based holdings Alibaba and Trip.com.”
Trip.com - September 2025
“The long-term structural story of growing travel demand in China, market share gains and operational leverage were reflected in Trip.com’s results, with short-term fears concerning heightened competition and excess spending on overseas expansion fading somewhat. This reaffirmed our investment thesis.”
Trip.com - HoldsMCP Emerging MarketsSeptember 2025
“The top contributors to Q3 performance were Taiwanese speciality materials provider Elite Material (+1.9%), Indian online auto classifieds platform CarTrade (+1.3%), and Chinese online travel agency Trip.com (+1.3%). The main detractors to performance were Korean medical aesthetics device manufacturer Classys (-1.1%), Indian wealth manager 360 One (-0.9%), and Korean atomic force microscopy producer Park Systems (-0.8%). Since inception MEMF has generated a NAV return of 48% (Private C USD Fou,nder). Over the quarter, Elite Material delivered a 35% share price return (USD) following strong Q2 financial results and ongoing order momentum from its core ASIC and GPU clients. CarTrade saw higher traffic on its platforms due to improved affordability of automobiles after the reduction in the Goods and Services Tax. Additionally, the launch of monetisation initiatives under OLX should help to further strenghten CarTrade’s growth and profitability. Trip.com experienced growth from Chinese travellers spending more domestically and across Asia and through rising inbound international tourism to China. Strong last quarter results and disciplined cost management, alongside a $5bn buyback funded by divestments, highlight Trip’s market leadership and management’s focus on efficient capital allocation.”
Trip.com
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