Based on 293 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added TRIP than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
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High ownership — 92% of 3.0Y peak
92% of all-time peak
293 funds currently hold this stock — 92% of the 3.0-year high of 317 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding TRIP is almost the same as a year ago (-3 funds, -1% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 52% buying
161 buying148 selling
Last quarter: 161 funds bought or added vs 148 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Steady new buyers — ~54 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 57 → 56 → 49 → 54. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 16% medium
■ 20% new
188 out of 293 hedge funds have held TRIP for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Value +39% but shares only +3% — price-driven
Last quarter: the total dollar value of institutional holdings rose +39%, but actual share count only changed +3%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Steady discovery — ~54 new funds/quarter
53 → 57 → 56 → 49 → 54 new funds/Q
New funds entering each quarter: 57 → 56 → 49 → 54. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 70% veterans vs 20% newcomers
■ 70% veterans
■ 10% 1-2yr
■ 20% new
Entry-cohort mix of 315 holders: 221 (70%) are 2+ year veterans, 32 entered 1–2 years ago, and 62 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 54% AUM from top-100 funds
54% from top-100 AUM funds
49 of 286 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in TRIP. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.