Vault-13

GLOBAL BUSINESS TRAVEL GROUP

COM CL A · CUSIP 37890B100

134 institutional holders +36 vs Q3 2024
239,144,469239.1m shares reported held*
$2.2bnreported value*
38 new 49 added 23 reduced 7 sold out net sold ≈ $31.6m (-3.4m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($243.9k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $9.28. Options: 1 managers hold calls ($0 notional), 1 hold puts ($0).

Trends to Q4 2024

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 40Q4 22: 44Q1 23: 41Q2 23: 55Q3 23: 64Q4 23: 60Q1 24: 65Q2 24: 75Q3 24: 98Q4 24: 134134Q3 22Q1 23Q3 23Q1 24Q3 24Q4 24
Numbers
QuarterHolders
Q3 202240
Q4 202244
Q1 202341
Q2 202355
Q3 202364
Q4 202360
Q1 202465
Q2 202475
Q3 202498
Q4 2024134

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q1 23: 18 bought or addedQ1 23: 23 cut or sold outQ2 23: 38 bought or addedQ2 23: 19 cut or sold outQ2 23Q3 23: 35 bought or addedQ3 23: 14 cut or sold outQ4 23: 33 bought or addedQ4 23: 25 cut or sold outQ4 23Q1 24: 30 bought or addedQ1 24: 28 cut or sold outQ2 24: 57 bought or addedQ2 24: 12 cut or sold outQ2 24Q3 24: 63 bought or addedQ3 24: 24 cut or sold outQ4 24: 87 bought or addedQ4 24: 30 cut or sold outQ4 24
Numbers
QuarterBought or addedCut or sold out
Q1 20231823
Q2 20233819
Q3 20233514
Q4 20233325
Q1 20243028
Q2 20245712
Q3 20246324
Q4 20248730

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$50k$100k$150k$200kQ1 24 calls: $107.0kQ1 24 puts: $163.0kQ1 24P/C 1.52Q2 24 calls: $86.2kQ2 24 puts: $0Q2 24P/C 0.00Q3 24 calls: $122.1kQ3 24 puts: $0Q3 24P/C 0.00Q4 24 calls: $0Q4 24 puts: $0Q4 24P/C —
Numbers
QuarterCallsPutsP/C
Q1 2024$107.0k$163.0k1.52
Q2 2024$86.2k$00.00
Q3 2024$122.1k$00.00
Q4 2024$0$0—

Biggest buyers

MILLENNIUM MANAGEMENT LLC Added +905,929+905.9k
BlackRock, Inc. Added +867,415+867.4k
DIMENSIONAL FUND ADVISORS LP Added +764,628+764.6k
STATE STREET CORP Added +493,647+493.6k
FIRST TRUST ADVISORS LP New +395,079+395.1k
Bank of New York Mellon Corp Added +384,560+384.6k
UBS Group AG Added +362,562+362.6k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +279,533+279.5k
E. Ohman J:or Asset Management AB New +240,597+240.6k
Zurcher Kantonalbank (Zurich Cantonalbank) Added +141,513+141.5k

Biggest sellers

VANGUARD GROUP INC Reduced -2,979,627-3.0m
DENDUR CAPITAL LP Sold out -2,915,769-2.9m
Beach Point Capital Management LP Reduced -2,310,104-2.3m
CARRONADE CAPITAL MANAGEMENT, LP Reduced -614,062-614.1k
Empyrean Capital Partners, LP Sold out -320,556-320.6k
RENAISSANCE TECHNOLOGIES LLC Reduced -182,380-182.4k
JPMORGAN CHASE & CO Reduced -103,484-103.5k
MARSHALL WACE, LLP Sold out -90,700-90.7k
AlphaQuest LLC Reduced -78,455-78.5k
Tidal Investments LLC Reduced -77,826-77.8k

Biggest calls

CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Expedia Group, Inc. 13D · may seek influence filed 2026-05-05
Stated purposeEXPLANATORY NOTE: This Amendment No. 3 (the "Amendment") amends and supplements the Schedule 13D filed by the Reporting Person on June 6, 2022, as amended by Amendment No. 1 thereto filed on July 12, 2023 and Amendment No. 2 thereto filed on January 16, 2024, with respect to the Class A common stock (the "Schedule 13D"). Capitalized terms used in this Amendment and not defined herein shall have the same meanings ascribed to them in the Schedule 13D. Item 4 of the Schedule 13D is hereby amended by adding the following: Voting Agreement On May 2, 2026, the Issuer entered into an Agreement and Plan of Merger (the "Merger Agreement") with Gaia Purchaser, Inc., a Delaware corporation ("Parent"), and Gaia Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent ("Merger… Full filing
 14.3% 74.8m≈ $702.8m 2026-05-05
BlackRock Portfolio Management LLC 13D · may seek influence -0.7 pts · filed 2026-05-05
Stated purposeAll of the Class A Common Stock of the Issuer reported on this Schedule 13D was acquired in the ordinary course of business for investment purposes by the Reporting Business Units. On May 2, 2026, the Issuer entered into an Agreement and Plan of Merger (the "Merger Agreement") with Gaia Purchaser, Inc., a Delaware corporation ("Parent"), and Gaia Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent ("Merger Sub"), pursuant to which the Issuer is to be acquired by Long Lake Management Holdings Inc. Pursuant to the Merger Agreement, Merger Sub will be merged with and into the Company (the "Merger"), with the Company surviving as a wholly owned subsidiary of Parent. Upon the terms and subject to the conditions set forth in the Merger Agreement, at the effective t… Full filing
 7.5% -0.7 pts 39.2m≈ $368.0m 2026-05-05

Fell to 5% or below in the last year: AMERICAN EXPRESS CO (0.0%, 2026-10-01), Qatar Investment Authority (0.0%, 2026-09-29), Apollo Principal Holdings A GP, Ltd. (4.4%, 2026-02-20)

Holders, Q4 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 AMERICAN EXPRESS CO 99.94% of their portfolio NEW YORK, NY 157,786,199157.8m $1.5bn $1.5bn 99.94% Unchanged
2 Apollo Management Holdings, L.P. 4.90% of their portfolio New York, NY 25,706,88625.7m $238.6m $238.6m 4.90% Unchanged
3 ARES MANAGEMENT LLC 3.72% of their portfolio LOS ANGELES, CA 11,396,51711.4m $105.8m $105.8m 3.72% Unchanged
4 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 9,268,2329.3m $86.0m $86.0m 0.00% Reduced -3.0m -2,979,627
5 BlackRock, Inc. 0.00% of their portfolio New York, NY 8,849,2468.8m $82.1m $82.1m 0.00% Added +867.4k +867,415
6 CARRONADE CAPITAL MANAGEMENT, LP 4.83% of their portfolio DARIEN, CT 2,969,2583.0m $27.6m $27.6m 4.83% Reduced -614.1k -614,062
7 Beach Point Capital Management LP 9.03% of their portfolio Santa Monica, CA 2,716,2632.7m $25.2m $25.2m 9.03% Reduced -2.3m -2,310,104
8 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 2,440,6372.4m $22.6m $22.6m 0.00% Added +493.6k +493,647
9 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 2,308,8322.3m $21.4m $21.4m 0.00% Reduced -30.6k -30,563
10 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 1,411,2861.4m $13.1m $13.1m 0.01% Added +905.9k +905,929
11 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 1,234,2521.2m $11.5m $11.5m 0.00% Added +384.6k +384,560
12 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 1,176,1971.2m $10.9m $10.9m 0.00% Added +58.2k +58,189
13 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 888,989889.0k $8.3m $8.3m 0.00% Added +764.6k +764,628
14 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 812,242812.2k $7.5m $7.5m 0.00% Added +5.7k +5,723
15 PAR CAPITAL MANAGEMENT INC 0.20% of their portfolio BOSTON, MA 746,730746.7k $6.9m $6.9m 0.20% Unchanged
16 PB INVESTMENT PARTNERS, L.P. 4.26% of their portfolio BURLINGAME, CA 613,264613.3k $5.7m $5.7m 4.26% Added +3.4k +3,405
17 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 441,945441.9k $4.1m $4.1m 0.00% Reduced -32.3k -32,271
18 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 429,520429.5k $4.0m $4.0m 0.01% Reduced -182.4k -182,380
19 UBS Group AG 0.00% of their portfolio ZURICH, V8 427,986428.0k $4.0m $4.0m 0.00% Added +362.6k +362,562
20 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 403,262403.3k $3.7m $3.7m 0.00% Added +279.5k +279,533
21 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 395,079395.1k $3.7m $3.7m 0.00% New
22 Ballast Asset Management, LP 1.80% of their portfolio DALLAS, TX 392,366392.4k $3.6m $3.6m 1.80% Reduced -12.9k -12,932
23 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 356,960357.0k $3.3m $3.3m 0.00% Added +110.7k +110,651
24 Advantage Alpha Capital Partners LP 0.78% of their portfolio SAN FRANCISCO, CA 353,967354.0k $3.3m $3.3m 0.78% Added +83.8k +83,812
25 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 295,606295.6k $2.7m $2.7m 0.00% Reduced -44.0k -43,956
26 Tidal Investments LLC 0.02% of their portfolio Milwaukee, WI 259,266259.3k $2.4m $2.4m 0.02% Reduced -77.8k -77,826
27 Golden State Wealth Management, LLC 0.34% of their portfolio SANTA ANA, CA 243,852243.9k $2.3m $2.3m 0.34% First filing
28 E. Ohman J:or Asset Management AB 0.05% of their portfolio STOCKHOLM, V7 240,597240.6k $2.2m $2.2m 0.05% New
29 Emmett Investment Management, LP 1.93% of their portfolio NEW YORK, NY 231,211231.2k $2.1m $2.1m 1.93% First filing
30 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 224,397224.4k $2.1m $2.1m 0.00% Added +64.8k +64,828
31 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 217,378217.4k $2.0m $2.0m 0.00% Added +18.7k +18,705
32 Swiss National Bank 0.00% of their portfolio ZURICH, V8 184,600184.6k $1.7m $1.7m 0.00% Unchanged
33 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 174,340174.3k $1.6m $1.6m 0.00% Added +141.5k +141,513
34 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 160,666160.7k $1.5m $1.5m 0.00% Added +32.7k +32,716
35 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 157,563157.6k $1.5m $1.5m 0.00% Reduced -857 -857
36 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio JUPITER, FL 139,880139.9k $1.3m $1.3m 0.00% New
37 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 135,720135.7k $1.3m $1.3m 0.00% Added +4.4k +4,400
38 Weiss Asset Management LP 0.03% of their portfolio BOSTON, MA 131,422131.4k $1.2m $1.2m 0.03% Not comparable
39 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 118,894118.9k $1.1m $1.1m 0.00% New
40 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 117,079117.1k $1.1m $1.1m 0.00% Added +45.6k +45,641
41 American Capital Advisory, LLC 0.59% of their portfolio KETCHUM, ID 114,318114.3k $1.1m $1.1m 0.59% Added +40.4k +40,424
42 Legal & General Group Plc 0.00% of their portfolio London, X0 112,099112.1k $1.0m $1.0m 0.00% Added +32.9k +32,920
43 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 107,752107.8k $999.9k $999.9k 0.00% Added +17.1k +17,090
44 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 98,77098.8k $916.6k $916.6k 0.00% Reduced -103.5k -103,484
45 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 95,82295.8k $889.2k $889.2k 0.00% Added +65.2k +65,192
46 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 94,91894.9k $880.8k $880.8k 0.00% Reduced -15.0k -15,025
47 ExodusPoint Capital Management, LP 0.01% of their portfolio NEW YORK, NY 91,61491.6k $850.0k $850.0k 0.01% Added +74.7k +74,741
48 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 90,09690.1k $836.1k $836.1k 0.00% Reduced -1.5k -1,488
49 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 77,64877.6k $720.6k $720.6k 0.00% Added +4.2k +4,154
50 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 76,08376.1k $706.0k $706.0k 0.00% New
51 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 71,33871.3k $662.0k $662.0k 0.00% Added +2.3k +2,258
52 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 68,55768.6k $636.2k $636.2k 0.00% Reduced -3.3k -3,344
53 Man Group plc 0.00% of their portfolio LONDON, X0 64,70564.7k $600.5k $600.5k 0.00% Added +36.0k +36,000
54 Corebridge Financial, Inc. 0.00% of their portfolio HOUSTON, TX 62,39562.4k $579.0k $579.0k 0.00% Reduced -4.7k -4,711
55 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 62,33962.3k $578.5k $578.5k 0.00% Added +49.6k +49,619
56 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 62,08362.1k $576.1k $576.1k 0.00% Reduced -12.8k -12,803
57 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 60,78260.8k $564.1k $564.1k 0.00% Added +19.4k +19,429
58 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 56,80756.8k $527.0k $527.0k 0.00% Added +8.3k +8,348
59 INTECH INVESTMENT MANAGEMENT LLC 0.01% of their portfolio WEST PALM BEACH, FL 56,07256.1k $520.3k $520.3k 0.01% Added +27.6k +27,568
60 XTX Topco Ltd 0.04% of their portfolio LONDON, X0 51,51751.5k $478.1k $478.1k 0.04% New
61 EntryPoint Capital, LLC 0.20% of their portfolio NEW YORK, NY 50,84250.8k $471.8k $471.8k 0.20% Added +11.4k +11,384
62 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 49,35349.4k $458.0k $458.0k 0.00% Added +8.2k +8,214
63 Allspring Global Investments Holdings, LLC 0.00% of their portfolio CHARLOTTE, NC 48,10848.1k $446.4k $446.4k 0.00% New
64 Harvest Fund Management Co., Ltd 0.02% of their portfolio BEIJING, F4 47,33147.3k $439.0k $439.0k 0.02% New
65 STRS OHIO 0.00% of their portfolio COLUMBUS, OH 40,90040.9k $379.6k $379.6k 0.00% New
66 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 39,32139.3k $364.9k $364.9k 0.00% Reduced -2.9k -2,879
67 SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.01% of their portfolio BALA CYNWYD, PA 38,45638.5k $356.9k $356.9k 0.01% First filing
68 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 36,27236.3k $336.6k $336.6k 0.00% Unchanged
69 Jain Global LLC 0.01% of their portfolio NEW YORK, NY 36,10436.1k $335.0k $335.0k 0.01% First filing
70 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 35,50035.5k $329.3k $329.3k 0.00% Unchanged
71 ProShare Advisors LLC 0.00% of their portfolio BETHESDA, MD 35,34435.3k $328.0k $328.0k 0.00% Added +11.6k +11,629
72 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 29,23129.2k $271.0k $271.0k 0.00% New
73 ANTIPODES PARTNERS Ltd 0.01% of their portfolio ROYAL EXCHANGE, C3 27,71227.7k $257.2k $257.2k 0.01% Added +14.8k +14,828
74 ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio PHOENIX, AZ 27,47027.5k $254.9k $254.9k 0.00% Added +253 +253
75 JAG CAPITAL MANAGEMENT, LLC 0.03% of their portfolio ST LOUIS, MO 26,11526.1k $242.3k $242.3k 0.03% Added +3.9k +3,907
76 Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio TRENTON, NJ 25,23225.2k $234.2k $234.2k 0.00% First filing
77 Ethic Inc. 0.00% of their portfolio NEW YORK, NY 24,51324.5k $227.5k $227.5k 0.00% New
78 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 23,73223.7k $220.2k $220.2k 0.00% Added +3.6k +3,596
79 WULFF, HANSEN & CO. 0.20% of their portfolio SAN RAFAEL, CA 23,12623.1k $214.6k $214.6k 0.20% Added +1.7k +1,651
80 Mariner, LLC 0.00% of their portfolio Overland Park, KS 22,07722.1k $204.9k $204.9k 0.00% Added +2.3k +2,302
81 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 21,77121.8k $202.0k $202.0k 0.00% Reduced -1.6k -1,588
82 Corton Capital Inc. 0.11% of their portfolio Carrying Place, A6 20,24620.2k $187.9k $187.9k 0.11% New
83 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 19,79919.8k $184.0k $184.0k 0.00% Reduced -10.2k -10,243
84 Handelsbanken Fonder AB 0.00% of their portfolio STOCKHOLM, V7 19,60019.6k $182.0k $182.0k 0.00% New
85 Vident Advisory, LLC 0.00% of their portfolio Alpharetta, GA 19,31919.3k $179.3k $179.3k 0.00% New
86 Vestcor Inc 0.01% of their portfolio FREDERICTON, A3 17,32417.3k $161.0k $161.0k 0.01% Unchanged
87 KLP KAPITALFORVALTNING AS 0.00% of their portfolio OSLO, Q8 17,30017.3k $160.5k $160.5k 0.00% First filing
88 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 16,53016.5k $153.4k $153.4k 0.00% New
89 OCCUDO QUANTITATIVE STRATEGIES LP 0.03% of their portfolio FORT LAUDERDALE, FL 16,43916.4k $152.6k $152.6k 0.03% New
90 ClearAlpha Technologies LP 0.12% of their portfolio Greenwich, CT 14,62214.6k $135.7k $135.7k 0.12% New
91 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 14,59814.6k $136.6k $136.6k 0.00% Reduced -550 -550
92 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 14,19114.2k $131.7k $131.7k 0.00% New
93 OMERS ADMINISTRATION Corp 0.00% of their portfolio TORONTO, A6 13,80013.8k $128.1k $128.1k 0.00% New
94 Pictet Asset Management Holding SA 0.00% of their portfolio CAROUGE, V8 13,57813.6k $126.0k $126.0k 0.00% Added +2.0k +1,976
95 Ameritas Investment Partners, Inc. 0.00% of their portfolio LINCOLN, NE 12,29612.3k $114.1k $114.1k 0.00% Unchanged
96 Y-Intercept (Hong Kong) Ltd 0.01% of their portfolio HONG KONG, K3 12,04712.0k $111.8k $111.8k 0.01% New
97 CIBC WORLD MARKETS CORP 0.00% of their portfolio NEW YORK, NY 11,74511.7k $109.0k $109.0k 0.00% New
98 XPONANCE LLC 0.00% of their portfolio PHILADELPHIA, PA 11,34711.3k $105.3k $105.3k 0.00% New
99 JUPITER ASSET MANAGEMENT LTD 0.00% of their portfolio London, X0 11,32811.3k $105.1k $105.1k 0.00% New
100 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 10,36510.4k $96.2k $96.2k 0.00% Reduced -972 -972