Polaris Capital Management, LLC — Global Equity Composite on Booking Holdings Inc.
Thesis
Polaris added Booking Holdings after Middle East conflict headlines and an AI-related selloff pressured the stock. The fund viewed the decline as an overreaction and an opportunistic entry point rather than evidence of impaired long-term fundamentals. Booking's position as a leading online travel platform gives Polaris exposure to continued long-term growth in global travel.
“this overreaction created an opportunistic entry point into a business we believe to be well positioned for long-term global travel growth.”
Key risks
- Middle East conflict affecting travel demand
- AI-related disruption concerns