Boundary Creek Advisors Invests All Assets in Global Business Travel Group

Key Insights: Boundary Creek’s Major Investment in Global Business Travel Group

• Boundary Creek’s recent acquisition of 2,735,449 shares in Global Business Travel Group indicates a net position change worth $22.91 million.

• This investment signifies a 100% transformation in Boundary Creek’s U.S. equity assets under management.

• Post-acquisition, Boundary Creek holds 2,735,449 shares in Global Business Travel Group, valued at $22.91 million as of September 30, 2025.

• The acquired stake in Global Business Travel Group now forms 100% of Boundary Creek’s fund assets, making it the fund’s most significant holding.

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Boundary Creek’s Significant Portfolio Shift

On November 7, 2025, Boundary Creek Advisors LP announced that they have taken a new $22.91 million position in Global Business Travel Group (NYSE:GBTG). This marks a momentous alteration in their portfolio.

Boundary Creek’s New Stake in Global Business Travel Group

Through its 13-F quarterly form submitted to the U.S. Securities and Exchange Commission on November 7, 2025 (SEC filing), Boundary Creek reported a new stake in Global Business Travel Group. The fund declared holding 2,735,449 shares valued at $22.91 million as of September 30, 2025. This stake represents their only U.S. equity position following a major reduction in their total fund holdings.

Key Points to Note About Boundary Creek’s New Position

• This move marks a new investment in Global Business Travel Group, accounting for 100% of Boundary Creek Advisors LP’s reportable assets under management as of September 30, 2025.

• As of November 7, 2025, the shares of Global Business Travel Group were priced at $7.96, reflecting an increase of 0.63% over the past year, but underperforming the S&P 500 by 18.16 percentage points.

A Brief Overview of Global Business Travel Group

Global Business Travel Group operates one of the largest B2B travel platforms in the world. Using advanced technology, it offers integrated solutions for travel management, expenses, and meetings and events to corporate clients. Through its marketplace, it connects corporate clients with travel content suppliers and third-party travel agencies, thus facilitating booking and management services. Their primary target market comprises large organizations and business travellers.

An Analysis of Boundary Creek’s Investment

Boundary Creek has put all its eggs in one basket, Global Business Travel Group. They have significantly reduced their portfolio from 32 holdings at the end of 2024 to just one in the third quarter of 2025.

Global Business Travel Group, which operates American Express Global Business Travel, has experienced various ups and downs over the past 12 months. The shares of the company have seen a marginal gain of 0.6% during the 12-months ended Nov. 7, 2025.

The company is scheduled to report its third-quarter results on Nov. 10, 2025, before the market opens. In Q2 2025, they reported a 1% year-over-year growth in topline sales, reaching $631 million, with a 4% YoY increase in adjusted EBITDA, hitting $133 million.

Investment Terms You Should Know

Form 13-F: A quarterly report submitted by institutional investment managers, revealing their U.S. equity holdings.

Assets under management (AUM): The total market value of assets managed by an investment firm on behalf of clients.

Position: The quantity of a particular security or asset held by an investor or fund.

Stake: The share or ownership interest held by an investor or fund in a company.

Reportable assets: Assets that must be disclosed in regulatory filings such as those required by the SEC.

Business-to-business (B2B): Transactions or services conducted between businesses rather than between a business and individual consumers.

Marketplace model: A business structure that facilitates transactions between buyers and sellers.

Corporate clients: Businesses or organizations that purchase products or services for their own use rather than for resale.

Third-party travel agencies: Independent companies that book travel services for clients, unassociated with the travel provider.

Integrated travel management: Coordinated services that combine booking, expense tracking, and event planning for business travel.

TTM: The 12-month period ending with the most recent quarterly report.

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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.