Boundary Creek trims MATV stake to 4% in Schedule 13G filing

Boundary Creek Advisors LP and its managing member, Peter Greatrex, filed Amendment No. 2 to Schedule 13G for Mativ Holdings, Inc. (MATV) covering an event dated 30 Jun 2025.

Rhea-AI Filing Summary

Boundary Creek Advisors LP and its managing member, Peter Greatrex, filed Amendment No. 2 to Schedule 13G for Mativ Holdings, Inc. (MATV) covering an event dated 30 Jun 2025. The filing shows the reporting group now beneficially owns 2,188,984 MATV common shares, equal to 4.0 % of the 54.63 million shares outstanding as of 5 May 2025. The position includes 875,000 shares deliverable under call options.

• Voting/Dispositive power: 0 shares sole; 2,188,984 shares shared for both voting and disposition.
• Filing status: Passive Schedule 13G (Rule 13d-1(b)/(c)); Boundary Creek is an SEC-registered investment adviser, and Greatrex is a control person.
• Item 5 declaration: The group now owns “5 percent or less” of MATV, signalling a reduction from any earlier >5 % stake.

No intention to influence control is asserted; the position is held in the ordinary course of business. Signatures were dated 6 Aug 2025.

Positive

• Passive filing reaffirms no intent to influence MATV’s control structure, reducing governance uncertainty.
• Remaining 2.19 m-share stake signals continued institutional interest despite reduction.

Negative

• Stake cut below 5 % may imply diminished confidence or forthcoming liquidity overhang.
• 875 k shares via call options could introduce additional selling pressure when exercised.

Insights

Securities Analyst

TL;DR – Position trimmed below 5 %; neutral impact for MATV shares.

Boundary Creek’s stake falls to 4 %, removing its status as a 5 %+ beneficial owner. Because the firm files a passive Schedule 13G and expressly disclaims any control intent, the change mainly signals portfolio rebalancing rather than activism. The absolute holding—2.19 m shares—still represents trading liquidity of roughly 14 days based on MATV’s 3-month average volume, so any further exit could pressure the stock. However, the reduction also lessens overhang fears associated with large passive blocks. Net effect is neutral for valuation absent additional information on sale pace or motives.

Corporate Governance Expert

TL;DR – Governance risk unchanged; filing confirms passive intent.

The amendment reiterates that neither Boundary Creek nor Peter Greatrex seeks board influence, maintaining MATV’s governance status quo. Dropping below 5 % eliminates certain disclosure obligations and reduces any implicit leverage the holder might wield, a mild positive for management autonomy. Because the investor retains shared voting power over the remaining shares, shareholder resolutions could still receive some support, but not at a controlling level. Overall governance impact is limited.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many MATV shares does Boundary Creek now own?

2,188,984 shares, including 875,000 underlying call options.

What percentage of MATV’s outstanding stock does this represent?

The filing reports 4.0 % of the 54.63 million shares outstanding.

Why was Amendment No. 2 to Schedule 13G filed?

Because the reporting persons’ ownership fell to 5 % or less, triggering an update under Item 5.

Does Boundary Creek seek control of Mativ Holdings?

No. The filing is on a passive Schedule 13G basis and explicitly disclaims any intent to influence control.

What is the event and filing date for this Schedule 13G/A?

Event date: 30 Jun 2025; signatures dated 6 Aug 2025.

Are derivative positions included in the reported ownership?

Yes. The total includes 875,000 MATV shares deliverable upon exercise of call options.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/06/2025 - 07:00 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Mativ Holdings, Inc.

(Name of Issuer)

Common Stock, par value $0.10 per share

(Title of Class of Securities)

808541106

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 808541106

1

Names of Reporting Persons

Boundary Creek Advisors LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,188,984.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,188,984.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,188,984.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.0 %

12

Type of Reporting Person (See Instructions)

IA, PN

Comment for Type of Reporting Person: Includes 875,000 shares of Common Stock (as defined in Item 2(a)) underlying call options

SCHEDULE 13G

CUSIP No. 808541106

1

Names of Reporting Persons

Peter Greatrex

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,188,984.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,188,984.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,188,984.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.0 %

12

Type of Reporting Person (See Instructions)

HC, IN

Comment for Type of Reporting Person: Includes 875,000 shares of Common Stock underlying call options

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Mativ Holdings, Inc.
(b)	Address of issuer's principal executive offices: 100 Kimball Place, Suite 600 Alpharetta, GA 30009
Item 2.
(a)	Name of person filing: This statement is filed by: (i) Boundary Creek Advisors LP (the "Investment Manager"), a Delaware limited partnership, and the investment adviser to Boundary Creek Master Fund LP (the "Boundary Creek Fund"), with respect to the shares of common stock, par value $0.10 per share (the "Common Stock") of Mativ Holdings, Inc. (the "Company") directly held by (and underlying call options directly held by) the Boundary Creek Fund; and (ii) Mr. Peter Greatrex ("Mr. Greatrex"), the managing member of Boundary Creek Partners LLC, the general partner of the Investment Manager, with respect to the shares of Common Stock directly held by (and underlying call options directly held by) the Boundary Creek Fund. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the shares of Common Stock reported herein.
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is 340 Madison Avenue, 12th Floor, New York, NY 10173.
(c)	Citizenship: The Investment Manager is a Delaware limited partnership. Mr. Greatrex is a citizen of the United States.
(d)	Title of class of securities: Common Stock, par value $0.10 per share
(e)	CUSIP No.: 808541106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 54,632,920 shares of Common Stock outstanding as of May 5, 2025, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, filed with the Securities and Exchange Commission on May 8, 2025.
(b)	Percent of class: 4.0%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2(a). The Boundary Creek Fund has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Boundary Creek Advisors LP

Signature:	/s/ David O'Mara
Name/Title:	David O'Mara, General Counsel & Chief Compliance Officer, By: Boundary Creek Partners LLC, General Partner
Date:	08/06/2025

Peter Greatrex

Signature:	/s/ Peter Greatrex
Name/Title:	Peter Greatrex, Individually
Date:	08/06/2025