Core Insights - Boundary Creek Advisors LP disclosed a new position of $22.91 million in Global Business Travel Group, marking a significant portfolio shift [1][2] - The fund's new stake consists of 2,735,449 shares, representing 100% of its reportable U.S. equity assets under management as of September 30, 2025 [2][8] Company Overview - Global Business Travel Group has a market capitalization of $3.81 billion and reported a revenue of $2.44 billion for the trailing twelve months (TTM) [4] - The company recorded a net income loss of $57 million for the TTM [4] - As of November 7, 2025, the stock price was $7.96, reflecting a 0.63% increase over the past year, underperforming the S&P 500 by 18.16 percentage points [9][11] Business Model - The company operates one of the largest B2B travel platforms, providing integrated travel, expense, and event management solutions for corporate clients [6][10] - It connects buyers and suppliers through a marketplace model, facilitating booking and management services for enterprise customers [10][14] Recent Performance - In the second quarter of 2025, Global Business Travel Group reported a 1% year-over-year increase in topline sales to $631 million, while adjusted EBITDA grew by 4% year-over-year to $133 million [12]