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Corporate Travel Management (ASX:CTD) has become one of the most controversial stocks among fund managers after customer overcharging revelations. In August 2026, Solaris said Corporate Travel was its fund's standout outright short, citing concerns about the quality and sustainability of earnings. GCQ said it is no surprise the shares traded below $1 in the grey market once customer overcharging is stripped out, while Totus and Solaris covered parts of short positions profitably. QVG, by contrast, sought to buy shares from sellers at deeply discounted prices. Corporate Travel Management operates in the Consumer Discretionary sector within the Hotels, Restaurants and Leisure industry, and Thesis Tracker has captured 32 comments from 17 fund managers, including Solaris, GCQ, Totus and QVG. Founded in 1994 and headquartered in Brisbane, CTM provides corporate travel management services to businesses and governments across Australia, Asia, Europe and North America.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Centennial Asset Management, Katana Asset Management, Firetrail Investments, QVG Capital, ECP Asset Management, Forager Funds, Wilson Asset Management, Spheria Asset Management, Elston Asset Management, Paradice Investment Management, Yarra Capital Management, Lennox Capital Partners, GCQ Funds Management, Totus Capital, Solaris Investment Management, Lennon Capital Partners and Blue Boat Capital have invested in Corporate Travel Management Ltd (ASX:CTD).
QVG Capital sees potential value after the share price collapse, attempting to buy shares from forced sellers at prices it considered heavily discounted.
Solaris, GCQ and Totus highlight concerns about earnings quality after customer overcharging was uncovered, with GCQ arguing the business is worth far less once those earnings are removed.
Corporate Travel Management Ltd (CTM) provides global travel and accommodation procurement and management services. Founded in 1994 by James Michael Pherous and headquartered in Brisbane, Australia, CTM operates across key geographical segments: Australia and New Zealand, North America, Asia, and Europe. An additional 'Other' segment provides global support services to facilitate operations and business growth. The company focuses on delivering efficient travel management solutions for its international client base.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.