Antipodes Partners Adds Booking Holdings to Global Value Portfolio

Antipodes Partners added Booking Holdings Inc. to its Antipodes Global Value Strategy portfolio, as disclosed in the firm's second-quarter 2026 investor letter. The investment firm identified the online travel agency as a buying opportunity, arguing that the market underappreciates the company's management team, loyalty program, and supply-side relationships.

Antipodes Partners noted that the stock has fallen out of favor due to investor concerns that AI agents might divert consumers away from the company's direct-traffic model. The firm also cited the stock's underperformance relative to hotel operators and lingering travel fears related to the Iran conflict as factors providing a margin of safety for the long-term investment.