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NASDAQ · Consumer Discretionary

AIRBNB INC ABNB

Airbnb is the world's leading travel homestay platform, connecting hosts and travelers, providing short-term accommodation, experiences and other diversified services. The company's revenue mainly comes from service fees collected from landlords and tenants. Q1 revenue in 2026 was US$2.7 billion, a year-on-year increase of 18%, with total bookings of US$29.2 billion. The core focus of investment analysis is the resilience of booking growth under global expansion, profit margin improvement trends, as well as geopolitical and macroeconomic risks.

Sources Company earnings and call materials quartr.com
Travel Marketplace

Company profile

Business mix

  • Focusing on short-term accommodation in B&Bs, we make profits through the two-way charging mechanism between landlords and tenants, and gradually expand to experience activities and long-term stays.
  • The gross bookings (GBV) in Q1 of 2026 will be US$29.2 billion, with the number of room nights and experience seats increasing by 9% year-on-year. The growth rate of net room nights in emerging markets is twice that of core markets.
  • The company has increased investment in AI technology and promoted the construction of AI native platforms. The number of first-time reservations has accelerated by 10%, and large-scale repurchases and cash flow have turned positive.

Current key questions

  • While revenue grew strongly, the net profit margin was only 6%, partly due to a one-time tax adjustment of US$69 million triggered by the U.S. alternative minimum tax, which puts sustainable profitability under test.
  • Geopolitical factors such as conflicts in the Middle East have exerted a 100 basis point drag on bookings, and macro-inflation, interest rate and exchange rate fluctuations are expected to continue to affect recent booking trends.
Holders 7 Current sample portfolio
Public mentions 0 Videos / interviews / letters
Valuation snapshot
PE 32.73 FCF 5.76% Buyback 3.52%
2026-06-07

Current firm holders

Firm Weight Value Filing period
Oakmark / Harris Associates Bill Nygren 3.2% $2.4B 2026-03-31
Polen Capital Management 2.0% $287.1M 2026-03-31
Akre Capital Management Chuck Akre 4.2% $256.9M 2026-03-31
Baron Capital Ron Baron 0.5% $182.0M 2026-03-31
Gotham Asset Management Joel Greenblatt 0.2% $78.5M 2026-03-31
Markel Group Tom Gayner 0.3% $30.6M 2026-03-31
Miller Value Partners Bill Miller 0.5% $2.0M 2026-03-31

Recent trading changes over the last 2 quarters

Last 1 quarters Last 2 quarters Last 3 quarters Last 4 quarters
Net buyers 5 Last 2 13F filing periods
Net reducers 4 Last 2 13F filing periods
Unchanged holders 1 Share count unchanged
Increase amount $658.8M Estimated from net added shares
Reduction amount $1.6B Estimated from net reduced shares
Net share change / base shares -23.1% -7,771,815 / 33,596,204
Bridgewater Associates Ray Dalio 2 filing periods
13F 2025-12-31 Filed 2026-02-13
Major increase Shares 78.9% 13F value change +$22.3M
13F 2026-03-31 Filed 2026-05-15
Major reduction Shares -91.8% 13F value change -$41.2M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 183,783 Last 2 periods -156,752 (-85.3%) Total shares 27,031 Value $3.4M
Gotham Asset Management Joel Greenblatt 2 filing periods
13F 2025-12-31 Filed 2026-02-17
Major increase Shares 11589.6% 13F value change +$105.5M
13F 2026-03-31 Filed 2026-05-15
Major reduction Shares -20.7% 13F value change -$27.9M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 6,703 Last 2 periods +614,572 (+9168.6%) Total shares 621,275 Value $78.5M
Miller Value Partners Bill Miller 1 filing periods
13F 2026-03-31 Filed 2026-05-15
New Shares - 13F value change +$2.0M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 0 Last 2 periods +16,134 (New) Total shares 16,134 Value $2.0M
Oakmark / Harris Associates Bill Nygren 2 filing periods
13F 2025-12-31 Filed 2026-02-17
Major increase Shares 21.0% 13F value change +$660.8M
13F 2026-03-31 Filed 2026-05-15
Minor increase Shares 2.5% 13F value change -$117.4M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 15,453,931 Last 2 periods +3,708,304 (+24.0%) Total shares 19,162,235 Value $2.4B
Baron Capital Ron Baron 2 filing periods
13F 2025-12-31 Filed 2026-02-17
Major increase Shares 52.1% 13F value change +$49.2M
13F 2026-03-31 Filed 2026-05-15
Major increase Shares 63.8% 13F value change +$62.6M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 578,540 Last 2 periods +862,681 (+149.1%) Total shares 1,441,221 Value $182.0M
Akre Capital Management Chuck Akre 2 filing periods
13F 2025-12-31 Filed 2026-02-13
Unchanged Shares 0.0% 13F value change $0
13F 2026-03-31 Filed 2026-05-14
Major reduction Shares -41.4% 13F value change -$214.5M
Settlement As of 13F 2026-03-31 · Filed 2026-05-14
Base shares 3,473,243 Last 2 periods -1,438,770 (-41.4%) Total shares 2,034,473 Value $256.9M
Polen Capital Management 2 filing periods
13F 2025-12-31 Filed 2026-02-12
Major reduction Shares -23.7% 13F value change -$71.3M
13F 2026-03-31 Filed 2026-05-14
Major reduction Shares -25.0% 13F value change -$124.2M
Settlement As of 13F 2026-03-31 · Filed 2026-05-14
Base shares 3,974,571 Last 2 periods -1,700,824 (-42.8%) Total shares 2,273,747 Value $287.1M
Edgewood Management 2 filing periods
13F 2025-12-31 Filed 2026-02-12
Major reduction Shares -74.4% 13F value change -$841.0M
13F 2026-03-31 Filed 2026-05-14
Major reduction Shares -99.8% 13F value change -$335.8M
Settlement As of 13F 2026-03-31 · Filed 2026-05-14
Base shares 9,698,300 Last 2 periods -9,692,416 (-99.9%) Total shares 5,884 Value $743,032
Markel Group Tom Gayner 2 filing periods
13F 2025-12-31 Filed 2026-02-06
Minor increase Shares 5.8% 13F value change +$5.0M
13F 2026-03-31 Filed 2026-05-01
Minor increase Shares 0.9% 13F value change -$2.0M
Settlement As of 13F 2026-03-31 · Filed 2026-05-01
Base shares 227,133 Last 2 periods +15,256 (+6.7%) Total shares 242,389 Value $30.6M
Sands Capital Management Frank Sands 2 filing periods
13F 2025-03-31 Filed 2025-05-14
New Shares - 13F value change +$113.6M
13F 2025-06-30 Filed 2025-08-13
Sold out Shares -100.0% 13F value change -$113.6M
Settlement As of 13F 2025-06-30 · Filed 2025-08-13
Base shares 0 Last 2 periods +0 (New) Total shares 0 Value $0

Recent mentions

No public mentions.