Boundary Creek Advisors LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 16, 2025), Boundary Creek Advisors LP reported 11 stock positions worth $109.7 million. Its top holding was Solaris Resources (SLSR) at 22.8% of the portfolio, followed by Mercer International (MERC, 22.3%) and Knight-Swift Transportation (KNX, 14.2%). Compared with Q4 2024, it opened 1 new position, sold out of 1, added to 3 and reduced 7. The biggest buy was Solaris Resources (SLSR, shares +3%) and the biggest sale Mativ (MATV, shares −16%).
- Most Recent 13F
- Q2 2026
- Location
- TUCKAHOE, NY
- CIK
- 0001771944
- Portfolio Value
- $109.7M (Q1 2025)
- SEC Filing
- 0001771944-25-000003 ↗ filed May 16, 2025
Holdings Value
Holdings 11 stocks · $109.7M
| SLSR Solaris Resources Inc. | 22.75% | 7,413,179 | $25.0M | Add +3.2% |
| MERC Mercer International Inc. | 22.33% | 3,981,773 | $24.5M | Reduce -6.0% |
| KNX Knight-Swift Transportation | 14.23% | 358,779 | $15.6M | Reduce -18.0% |
| MATV Mativ Holdings Inc. | 11.05% | 1,945,289 | $12.1M | Reduce -16.2% |
| LEU Centrus Energy Corp. Class A | 9.86% | 173,786 | $10.8M | Reduce -20.6% |
| CEG Constellation Energy | 5.06% | 27,500 | $5.5M | Reduce -54.2% |
| VLO Valero Energy Corp. | 4.82% | 40,000 | $5.3M | Reduce -55.6% |
| VST Vistra Corp. | 4.28% | 40,000 | $4.7M | Add +100.0% |
| UIS Unisys Corp. | 2.80% | 669,260 | $3.1M | Add +31.1% |
| EU Encore Energy Corp. | 2.64% | 2,171,497 | $2.9M | New |
| URBAN ONE INC | 0.18% | 276,962 | $199K | Reduce -67.9% |
Options reported separately and not counted above: MPT puts ($136.9M), KNX calls ($43.5M), EFA puts ($40.9M), VLO calls ($26.4M), DXC calls ($8.5M), MATV calls ($5.5M), SLSR calls ($499K).
Other holdings (2): bonds, preferreds, convertibles and warrants · $4.0M (not counted above)
Total filed on the 13F, all lines: $113.7M.
Portfolio Sells Q4 2024 → Q1 2025
| MATV Mativ Holdings Inc. | Reduce -16.2% | 11.05% | −5.89 |
| CEG Constellation Energy | Reduce -54.2% | 5.06% | −3.93 |
| AMBP Ardagh Metal Packaging SA | Sold out | 0.00% | −3.45 |
| VLO Valero Energy Corp. | Reduce -55.6% | 4.82% | −2.57 |
| KNX Knight-Swift Transportation | Reduce -18.0% | 14.23% | −1.31 |
| URBAN ONE INC | Reduce -67.9% | 0.18% | −0.39 |
| LEU Centrus Energy Corp. Class A | Reduce -20.6% | 9.86% | +0.10 |
| MERC Mercer International Inc. | Reduce -6.0% | 22.33% | +3.90 |
Portfolio Buys Q4 2024 → Q1 2025
Options Activity Q4 2024 → Q1 2025
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Sold out | 4,500,000 | $353.9Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 600,000 | $351.6Mbefore exit |
| IWM iShares Russell 2000 ETF | put | Sold out | 1,000,000 | $221.0Mbefore exit |
| MPT Medical Properties Trust Inc. | put | Add +28.9% | 22,704,900 | $136.9M |
| XLI SS Industrial Select Sector | put | Sold out | 1,000,000 | $131.8Mbefore exit |
| GL Globe Life Inc. | put | Sold out | 572,900 | $63.9Mbefore exit |
| KNX Knight-Swift Transportation | call | Reduce -5.8% | 1,000,000 | $43.5M |
| EFA iShares MSCI Eafe ETF | put | New | 500,000 | $40.9M |
| VLO Valero Energy Corp. | call | New | 200,000 | $26.4M |
| CCL Carnival Corp. | put | Sold out | 1,000,000 | $24.9Mbefore exit |
| VST Vistra Corp. | call | Sold out | 150,000 | $20.7Mbefore exit |
| ABR Arbor Realty Trust Inc. | put | Sold out | 1,124,300 | $15.6Mbefore exit |
| OPTU Optimum Communications Inc. Class A | call | Sold out | 5,405,500 | $13.0Mbefore exit |
| CRK Comstock Resources Inc. | put | Sold out | 500,000 | $9.1Mbefore exit |
| AAL American Airlines Group Inc. | put | Sold out | 500,000 | $8.7Mbefore exit |
| DXC DXC Technology Co. | call | New | 500,000 | $8.5M |
| DAN Dana Inc. | call | Sold out | 532,500 | $6.2Mbefore exit |
| MATV Mativ Holdings Inc. | call | Reduce -52.4% | 875,000 | $5.5M |
| JBLU Jetblue Airways Corp. | put | Sold out | 500,000 | $3.9Mbefore exit |
| MERC Mercer International Inc. | call | Sold out | 558,400 | $3.6Mbefore exit |
| SLSR Solaris Resources Inc. | call | Reduce -70.5% | 147,300 | $499K |
| UIS Unisys Corp. | call | Sold out | 50,000 | $317Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | Add +20.7% | 17,500,000 | $4.0M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 0 | $0 | |
| Q1 2026 | 1 | $15.3M | GBTG |
| Q4 2025 | 1 | $20.9M | GBTG |
| Q3 2025 | 1 | $22.9M | GBTG |
| Q2 2025 | 3 | $39.9M | SLSR, MATV, MERC |
| Q1 2025 | 11 | $109.7M | SLSR, MERC, KNX, MATV, LEU |
| Q4 2024 | 11 | $149.4M | MERC, MATV, KNX, SLSR, LEU |
| Q3 2024 | 9 | $152.7M | MATV, MERC, SLSR, LEU, KNX |
| Q2 2024 | 16 | $203.0M | MATV, MERC, KNX, AMBP, SLSR |
| Q1 2024 | 11 | $146.8M | MATV, MERC, BRSL, AMBP, KNX |