Vault-13

GLOBAL BUSINESS TRAVEL GROUP

COM CL A · CUSIP 37890B100

170 institutional holders +7 vs Q3 2025
290,677,932290.7m shares reported held*
$2.2bnreported value*
30 new 80 added 35 reduced 24 sold out net bought ≈ $22.5m (+120.2k 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 ($8.6k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $7.65.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 40Q4 22: 44Q1 23: 41Q2 23: 55Q3 23: 64Q4 23: 60Q1 24: 65Q2 24: 75Q3 24: 98Q4 24: 134Q1 25: 150Q2 25: 161Q3 25: 163Q4 25: 170170Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202240
Q4 202244
Q1 202341
Q2 202355
Q3 202364
Q4 202360
Q1 202465
Q2 202475
Q3 202498
Q4 2024134
Q1 2025150
Q2 2025161
Q3 2025163
Q4 2025170

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 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 24Q1 25: 89 bought or addedQ1 25: 55 cut or sold outQ2 25: 88 bought or addedQ2 25: 74 cut or sold outQ2 25Q3 25: 86 bought or addedQ3 25: 79 cut or sold outQ4 25: 110 bought or addedQ4 25: 59 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20243028
Q2 20245712
Q3 20246324
Q4 20248730
Q1 20258955
Q2 20258874
Q3 20258679
Q4 202511059

Calls vs puts

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

CallsPuts
$0$500$1k$1.5kQ1 25 calls: $1.5kQ1 25 puts: $0Q1 25P/C 0.00Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$1.5k$00.00
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$0$0—

Biggest buyers

VANGUARD GROUP INC Added +2,744,068+2.7m
BlackRock, Inc. Added +1,904,176+1.9m
MILLENNIUM MANAGEMENT LLC Added +1,618,081+1.6m
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +593,593+593.6k
FIRST TRUST ADVISORS LP New +575,984+576.0k
GEODE CAPITAL MANAGEMENT, LLC Added +516,047+516.0k
DIMENSIONAL FUND ADVISORS LP Added +492,253+492.3k
STATE STREET CORP Added +370,657+370.7k
Neo Ivy Capital Management Added +258,868+258.9k
XTX Topco Ltd Added +220,073+220.1k

Biggest sellers

Anchorage Capital Advisors, L.P. Reduced -3,593,623-3.6m
Apollo Management Holdings, L.P. Reduced -2,821,895-2.8m
CARRONADE CAPITAL MANAGEMENT, LP Sold out -1,705,039-1.7m
FMR LLC Reduced -676,361-676.4k
Advantage Alpha Capital Partners LP Sold out -630,004-630.0k
Beach Point Capital Management LP Sold out -483,197-483.2k
Emmett Investment Management, LP Sold out -458,808-458.8k
RENAISSANCE TECHNOLOGIES LLC Reduced -190,900-190.9k
BARCLAYS PLC Reduced -163,671-163.7k
PAR CAPITAL MANAGEMENT INC Reduced -155,770-155.8k

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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 AMERICAN EXPRESS CO 100.00% of their portfolio NEW YORK, NY 157,786,199157.8m $1.2bn $1.2bn 100.00% Unchanged
2 Apollo Management Holdings, L.P. 1.73% of their portfolio New York, NY 22,884,99122.9m $175.1m $175.1m 1.73% Reduced -2.8m -2,821,895
3 REDWOOD CAPITAL MANAGEMENT, LLC 17.57% of their portfolio New York, NY 21,453,81621.5m $164.1m $164.1m 17.57% Added +1 +1
4 ARES MANAGEMENT LLC 6.07% of their portfolio LOS ANGELES, CA 13,886,02313.9m $106.2m $106.2m 6.07% Unchanged
5 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 13,857,45113.9m $106.0m $106.0m 0.00% Added +2.7m +2,744,068
6 BlackRock, Inc. 0.00% of their portfolio New York, NY 9,756,1179.8m $74.6m $74.6m 0.00% Added +1.9m +1,904,176
7 Attestor Capital Ltd 32.07% of their portfolio Grand Cayman, E9 8,878,0048.9m $67.9m $67.9m 32.07% First filing
8 Monarch Alternative Capital LP 7.11% of their portfolio New York, NY 7,138,5827.1m $54.6m $54.6m 7.11% Unchanged
9 Anchorage Capital Advisors, L.P. 25.98% of their portfolio NEW YORK, NY 3,593,6353.6m $27.5m $27.5m 25.98% Reduced -3.6m -3,593,623
10 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 3,318,6143.3m $25.4m $25.4m 0.01% Added +492.3k +492,253
11 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 2,894,8722.9m $22.2m $22.2m 0.00% Added +516.0k +516,047
12 Boundary Creek Advisors LP 100.00% of their portfolio TUCKAHOE, NY 2,735,4492.7m $20.9m $20.9m 100.00% Unchanged
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 2,628,0632.6m $20.1m $20.1m 0.00% Added +370.7k +370,657
14 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 1,679,2171.7m $12.8m $12.8m 0.01% Added +1.6m +1,618,081
15 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 1,143,7571.1m $8.7m $8.7m 0.00% Added +157.0k +157,043
16 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 1,033,1821.0m $7.9m $7.9m 0.00% Added +135.7k +135,652
17 PB INVESTMENT PARTNERS, L.P. 4.52% of their portfolio BURLINGAME, CA 930,961931.0k $7.1m $7.1m 4.52% Added +842 +842
18 PAR CAPITAL MANAGEMENT INC 0.18% of their portfolio BOSTON, MA 883,244883.2k $6.8m $6.8m 0.18% Reduced -155.8k -155,770
19 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 867,325867.3k $6.6m $6.6m 0.00% Added +34.1k +34,130
20 UBS Group AG 0.00% of their portfolio ZURICH, V8 815,625815.6k $6.2m $6.2m 0.00% Added +124.3k +124,344
21 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 764,614764.6k $5.8m $5.8m 0.00% Reduced -96.4k -96,387
22 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 637,508637.5k $4.9m $4.9m 0.00% Reduced -143.0k -143,045
23 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 593,593593.6k $4.5m $4.5m 0.01% New
24 FMR LLC 0.00% of their portfolio BOSTON, MA 581,701581.7k $4.5m $4.5m 0.00% Reduced -676.4k -676,361
25 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 575,984576.0k $4.4m $4.4m 0.00% New
26 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 500,720500.7k $3.8m $3.8m 0.01% Reduced -190.9k -190,900
27 Ballast Asset Management, LP 1.77% of their portfolio DALLAS, TX 489,519489.5k $3.7m $3.7m 1.77% Reduced -16.5k -16,480
28 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 406,011406.0k $3.1m $3.1m 0.00% Added +103.4k +103,420
29 Blackstone Inc. 0.01% of their portfolio NEW YORK, NY 353,031353.0k $2.7m $2.7m 0.01% Reduced -2.8k -2,805
30 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 338,603338.6k $2.6m $2.6m 0.00% Added +41.5k +41,549
31 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 310,611310.6k $2.4m $2.4m 0.00% Added +156.7k +156,675
32 Neo Ivy Capital Management 0.36% of their portfolio NEW YORK, NY 296,762296.8k $2.3m $2.3m 0.36% Added +258.9k +258,868
33 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 283,468283.5k $2.2m $2.2m 0.00% Added +40.6k +40,645
34 Wealthspire Advisors, LLC 0.02% of their portfolio NEW YORK, NY 258,732258.7k $2.0m $2.0m 0.02% Added +139 +139
35 E. Ohman J:or Asset Management AB 0.04% of their portfolio STOCKHOLM, V7 237,167237.2k $1.8m $1.8m 0.04% Reduced -122.0k -122,034
36 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 235,076235.1k $1.8m $1.8m 0.00% Added +44.1k +44,111
37 XTX Topco Ltd 0.05% of their portfolio LONDON, X0 232,689232.7k $1.8m $1.8m 0.05% Added +220.1k +220,073
38 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 217,888217.9k $1.7m $1.7m 0.00% New
39 ExodusPoint Capital Management, LP 0.02% of their portfolio NEW YORK, NY 212,379212.4k $1.6m $1.6m 0.02% Added +17.6k +17,635
40 Swiss National Bank 0.00% of their portfolio ZURICH, V8 208,700208.7k $1.6m $1.6m 0.00% Added +23.1k +23,100
41 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 203,854203.9k $1.6m $1.6m 0.00% Reduced -163.7k -163,671
42 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 180,660180.7k $1.4m $1.4m 0.00% Added +163.2k +163,153
43 Tidal Investments LLC 0.01% of their portfolio Milwaukee, WI 160,916160.9k $1.2m $1.2m 0.01% Reduced -38.5k -38,461
44 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 159,127159.1k $1.2m $1.2m 0.00% Added +29.7k +29,654
45 Ionic Capital Management LLC 1.20% of their portfolio NEW YORK, NY 158,007158.0k $1.2m $1.2m 1.20% Reduced -10.0k -10,000
46 Boussard & Gavaudan Investment Management LLP 0.09% of their portfolio London, X0 144,203144.2k $1.1m $1.1m 0.09% New
47 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 143,307143.3k $1.1m $1.1m 0.00% Added +83.6k +83,618
48 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 141,062141.1k $1.1m $1.1m 0.00% Added +24.4k +24,353
49 CastleKnight Management LP 0.06% of their portfolio New York, NY 138,963139.0k $1.1m $1.1m 0.06% Unchanged
50 GSA CAPITAL PARTNERS LLP 0.09% of their portfolio LONDON, X0 138,798138.8k $1.1m $1.1m 0.09% Added +105.6k +105,615
51 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 133,723133.7k $1.0m $1.0m 0.00% Reduced -3.5k -3,480
52 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 133,667133.7k $1.0m $1.0m 0.00% Reduced -353 -353
53 American Capital Advisory, LLC 0.41% of their portfolio KETCHUM, ID 122,969123.0k $940.7k $940.7k 0.41% Reduced -2.9k -2,882
54 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 122,869122.9k $939.9k $939.9k 0.00% Added +26.5k +26,479
55 Legal & General Group Plc 0.00% of their portfolio London, X0 106,395106.4k $813.9k $813.9k 0.00% Added +705 +705
56 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 101,142101.1k $773.7k $773.7k 0.00% New
57 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 90,22890.2k $690.2k $690.2k 0.00% New
58 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 88,89688.9k $680.1k $680.1k 0.00% Added +2.1k +2,143
59 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 88,78588.8k $679.2k $679.2k 0.00% Reduced -61.0k -60,968
60 Walleye Capital LLC 0.00% of their portfolio NEW YORK, NY 81,62381.6k $624.4k $624.4k 0.00% New
61 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 80,66080.7k $617.0k $617.0k 0.00% Added +18.9k +18,910
62 AlphaQuest LLC 0.03% of their portfolio New York, NY 78,33878.3k $599.3k $599.3k 0.03% Added +6.4k +6,373
63 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 73,12973.1k $559.4k $559.4k 0.00% Added +15.2k +15,219
64 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 72,09772.1k $552.0k $552.0k 0.00% Added +22.4k +22,382
65 Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio VANCOUVER, A1 62,71662.7k $479.8k $479.8k 0.00% New
66 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 62,00062.0k $474.3k $474.3k 0.00% New
67 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 60,61860.6k $463.7k $463.7k 0.00% Added +16.3k +16,265
68 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 55,44555.4k $424.2k $424.2k 0.00% Reduced -88.4k -88,387
69 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 55,37955.4k $423.6k $423.6k 0.00% Unchanged
70 Man Group plc 0.00% of their portfolio LONDON, X0 54,36854.4k $415.9k $415.9k 0.00% Added +22.3k +22,349
71 DCM Advisors, LLC 0.17% of their portfolio NEW YORK, NY 53,65653.7k $410.5k $410.5k 0.17% New
72 Jain Global LLC 0.00% of their portfolio NEW YORK, NY 50,58650.6k $387.0k $387.0k 0.00% Added +35.2k +35,182
73 Point72 Asset Management, L.P. 0.00% of their portfolio STAMFORD, CT 50,00050.0k $382.5k $382.5k 0.00% New
74 Ethic Inc. 0.01% of their portfolio NEW YORK, NY 49,91949.9k $381.9k $381.9k 0.01% Added +21.2k +21,166
75 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 48,57448.6k $371.6k $371.6k 0.00% Reduced -6.3k -6,274
76 Engineers Gate Manager LP 0.00% of their portfolio NEW YORK, NY 45,86645.9k $350.9k $350.9k 0.00% Added +29.0k +29,004
77 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 45,18845.2k $345.7k $345.7k 0.00% Reduced -17.7k -17,725
78 Vident Advisory, LLC 0.00% of their portfolio Alpharetta, GA 44,92944.9k $343.7k $343.7k 0.00% New
79 OCCUDO QUANTITATIVE STRATEGIES LP 0.02% of their portfolio FORT LAUDERDALE, FL 44,26044.3k $338.6k $338.6k 0.02% New
80 Fieldview Capital Management, LLC 0.05% of their portfolio NILES, MI 38,26538.3k $292.7k $292.7k 0.05% Added +25.7k +25,664
81 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 36,97637.0k $282.9k $282.9k 0.00% Reduced -40.8k -40,753
82 ALGERT GLOBAL LLC 0.00% of their portfolio SAN FRANCISCO, CA 35,87135.9k $274.4k $274.4k 0.00% New
83 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 35,50035.5k $271.8k $271.8k 0.00% Unchanged
84 INCEPTIONR LLC 0.08% of their portfolio Lafayette, CA 35,33835.3k $270.3k $270.3k 0.08% Added +20.0k +19,957
85 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 35,09635.1k $268.5k $268.5k 0.00% Reduced -13.6k -13,584
86 Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio TRENTON, NJ 32,17532.2k $246.1k $246.1k 0.00% Added +4.2k +4,181
87 HARBOR CAPITAL ADVISORS, INC. 0.02% of their portfolio CHICAGO, IL 31,98232.0k $245.0k $245.0k 0.02% Added +7.5k +7,483
88 Handelsbanken Fonder AB 0.00% of their portfolio STOCKHOLM, V7 30,90030.9k $236.0k $236.0k 0.00% Unchanged
89 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 30,87230.9k $236.2k $236.2k 0.00% Added +10.4k +10,400
90 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 30,82630.8k $235.8k $235.8k 0.00% Added +14.0k +13,951
91 ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio PHOENIX, AZ 29,29829.3k $224.1k $224.1k 0.00% Added +968 +968
92 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 28,30828.3k $216.6k $216.6k 0.00% Added +9.2k +9,181
93 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 26,89026.9k $205.7k $205.7k 0.00% Added +5.8k +5,824
94 State of Alaska, Department of Revenue 0.00% of their portfolio JUNEAU, AK 26,84226.8k $205.0k $205.0k 0.00% Added +691 +691
95 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 25,35325.4k $193.9k $193.9k 0.00% Added +8.5k +8,459
96 LEVIN CAPITAL STRATEGIES, L.P. 0.02% of their portfolio NEW YORK, NY 25,00025.0k $191.2k $191.2k 0.02% Reduced -25.0k -25,000
97 Swiss Life Asset Management Ltd 0.00% of their portfolio Zurich, V8 24,21024.2k $185.2k $185.2k 0.00% New
98 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 23,89623.9k $182.8k $182.8k 0.00% Added +4.5k +4,543
99 ProShare Advisors LLC 0.00% of their portfolio BETHESDA, MD 23,87423.9k $182.6k $182.6k 0.00% Added +7.7k +7,716
100 WULFF, HANSEN & CO. 0.15% of their portfolio SAN RAFAEL, CA 23,12623.1k $176.9k $176.9k 0.15% Unchanged