Vault-13

GLOBAL BUSINESS TRAVEL GROUP

COM CL A · CUSIP 37890B100

191 institutional holders +23 vs Q1 2026
330,316,907330.3m shares reported held*
$3.1bnreported value*
61 new 72 added 31 reduced 38 sold out net sold ≈ $22.0m (-1.3m 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 ($8.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $9.36. Options: 4 managers hold calls ($698.6k notional), 0 hold puts (—).

Trends to Q2 2026

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: 170Q1 26: 168Q2 26: 191191Q3 22Q3 23Q3 24Q3 25Q2 26
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
Q1 2026168
Q2 2026191

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 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 25Q1 26: 82 bought or addedQ1 26: 101 cut or sold outQ2 26: 133 bought or addedQ2 26: 69 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20246324
Q4 20248730
Q1 20258955
Q2 20258874
Q3 20258679
Q4 202511059
Q1 202682101
Q2 202613369

Calls vs puts

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

CallsPuts
$0$200k$400k$600k$800kQ3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $0Q4 25P/C —Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —Q2 26 calls: $698.6kQ2 26 puts: $0Q2 26P/C 0.00
Numbers
QuarterCallsPutsP/C
Q3 2025$0$0—
Q4 2025$0$0—
Q1 2026$0$0—
Q2 2026$698.6k$00.00

Biggest buyers

NEXPOINT ASSET MANAGEMENT, L.P. New +8,089,339+8.1m
GLAZER CAPITAL, LLC New +5,115,013+5.1m
Polar Asset Management Partners Inc. New +4,848,676+4.8m
FIL Ltd New +4,400,000+4.4m
SOROS FUND MANAGEMENT LLC New +3,346,860+3.3m
AQR Arbitrage LLC New +2,592,426+2.6m
ALLIANCEBERNSTEIN L.P. Added +2,395,232+2.4m
MILLENNIUM MANAGEMENT LLC Added +2,100,304+2.1m
LMR Partners LLP New +1,750,463+1.8m
FMR LLC Added +1,467,788+1.5m

Biggest sellers

REDWOOD CAPITAL MANAGEMENT, LLC Reduced -10,955,174-11.0m
ARES MANAGEMENT LLC Reduced -9,547,759-9.5m
Attestor Capital Ltd Sold out -8,878,004-8.9m
Monarch Alternative Capital LP Sold out -7,800,000-7.8m
Anchorage Capital Advisors, L.P. Sold out -3,593,635-3.6m
Boundary Creek Advisors LP Sold out -2,735,449-2.7m
BlackBarn Capital Partners LP Sold out -2,000,000-2.0m
PAR CAPITAL MANAGEMENT INC Sold out -1,686,634-1.7m
Apollo Management Holdings, L.P. Reduced -1,172,807-1.2m
PB INVESTMENT PARTNERS, L.P. Sold out -930,961-931.0k

Biggest calls

CITADEL ADVISORS LLC New $392.5k41.8k shares
JANE STREET GROUP, LLC New $176.5k18.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $128.6k13.7k shares
SIMPLEX TRADING, LLC New $939100 shares

Biggest puts

None

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, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 AMERICAN EXPRESS CO 100.00% of their portfolio NEW YORK, NY 157,786,199157.8m $1.5bn $1.5bn 100.00% Unchanged
2 BlackRock, Inc. 0.01% of their portfolio New York, NY 49,490,22749.5m $464.7m $464.7m 0.01% Added +808.8k +808,800
3 Apollo Management Holdings, L.P. 2.86% of their portfolio New York, NY 21,712,18421.7m $203.9m $203.9m 2.86% Reduced -1.2m -1,172,807
4 REDWOOD CAPITAL MANAGEMENT, LLC 11.14% of their portfolio New York, NY 10,998,64211.0m $103.3m $103.3m 11.14% Reduced -11.0m -10,955,174
5 NEXPOINT ASSET MANAGEMENT, L.P. 5.08% of their portfolio Dallas, TX 8,089,3398.1m $76.0m $76.0m 5.08% New
6 VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 6,526,2416.5m $61.3m $61.3m 0.00% Added +84.0k +84,010
7 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 6,525,8186.5m $61.3m $61.3m 0.00% Reduced -56.5k -56,485
8 GLAZER CAPITAL, LLC 1.19% of their portfolio New York, NY 5,115,0135.1m $48.0m $48.0m 1.19% New
9 Polar Asset Management Partners Inc. 0.83% of their portfolio TORONTO, A6 4,848,6764.8m $45.5m $45.5m 0.83% New
10 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 4,777,9954.8m $44.9m $44.9m 0.01% Added +522.4k +522,392
11 FIL Ltd 0.03% of their portfolio HAMILTON, D0 4,400,0004.4m $41.3m $41.3m 0.03% New
12 ARES MANAGEMENT LLC 1.78% of their portfolio LOS ANGELES, CA 4,338,2644.3m $40.7m $40.7m 1.78% Reduced -9.5m -9,547,759
13 SOROS FUND MANAGEMENT LLC 0.41% of their portfolio NEW YORK, NY 3,346,8603.3m $31.4m $31.4m 0.41% New
14 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 3,179,5813.2m $29.9m $29.9m 0.00% Added +224.3k +224,280
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 2,926,0002.9m $27.5m $27.5m 0.00% Added +174.0k +173,975
16 AQR Arbitrage LLC 0.35% of their portfolio Greenwich, CT 2,592,4262.6m $24.3m $24.3m 0.35% New
17 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 2,544,0522.5m $14.2m $14.2m 0.00% Added +2.4m +2,395,232
18 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 2,283,9862.3m $21.4m $21.4m 0.01% Added +2.1m +2,100,304
19 FMR LLC 0.00% of their portfolio BOSTON, MA 2,008,8632.0m $18.9m $18.9m 0.00% Added +1.5m +1,467,788
20 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,831,4191.8m $17.2m $17.2m 0.00% Added +1.4m +1,394,059
21 LMR Partners LLP 0.12% of their portfolio LONDON, X0 1,750,4631.8m $16.4m $16.4m 0.12% New
22 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 1,395,5451.4m $13.1m $13.1m 0.00% Added +180.7k +180,717
23 GABELLI FUNDS LLC 0.08% of their portfolio Rye, NY 1,286,7501.3m $12.1m $12.1m 0.08% New
24 First Trust Capital Management L.P. 0.68% of their portfolio CHICAGO, IL 1,241,8001.2m $11.7m $11.7m 0.68% New
25 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 1,030,6621.0m $9.7m $9.7m 0.00% Added +32.5k +32,536
26 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 917,021917.0k $8.7m $8.7m 0.00% Added +795.0k +794,962
27 ALPINE ASSOCIATES MANAGEMENT INC. 0.54% of their portfolio PALM BEACH, FL 914,066914.1k $8.6m $8.6m 0.54% New
28 CANTOR FITZGERALD, L. P. 0.08% of their portfolio NEW YORK, NY 869,332869.3k $8.2m $8.2m 0.08% New
29 GABELLI & Co INVESTMENT ADVISERS, INC. 1.18% of their portfolio Rye, NY 862,492862.5k $8.1m $8.1m 1.18% New
30 VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio MALVERN, PA 829,877829.9k $7.8m $7.8m 0.00% Reduced -38.3k -38,281
31 UBS Group AG 0.00% of their portfolio ZURICH, V8 785,661785.7k $7.4m $7.4m 0.00% Added +174.5k +174,528
32 Vestcor Inc 0.14% of their portfolio FREDERICTON, A3 617,324617.3k $5.8m $5.8m 0.14% Added +600.0k +600,000
33 LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 575,438575.4k $5.4m $5.4m 0.01% Added +30.3k +30,293
34 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 484,364484.4k $4.5m $4.5m 0.00% New
35 New York Life Investment Management LLC 0.03% of their portfolio New York, NY 471,626471.6k $4.4m $4.4m 0.03% New
36 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 437,458437.5k $4.1m $4.1m 0.00% Added +13.4k +13,448
37 Verition Fund Management LLC 0.03% of their portfolio GREENWICH, CT 425,000425.0k $4.0m $4.0m 0.03% New
38 Centiva Capital, LP 0.13% of their portfolio New York, NY 407,964408.0k $3.8m $3.8m 0.13% New
39 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 403,112403.1k $3.8m $3.8m 0.00% Added +69.3k +69,331
40 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 337,444337.4k $3.2m $3.2m 0.01% Added +256.0k +256,007
41 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 316,739316.7k $3.0m $3.0m 0.00% New
42 Carmignac Gestion 0.04% of their portfolio PARIS, I0 316,463316.5k $3.0m $3.0m 0.04% New
43 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 311,361311.4k $2.9m $2.9m 0.00% Added +27.9k +27,924
44 OMERS ADMINISTRATION Corp 0.02% of their portfolio TORONTO, A6 300,300300.3k $2.8m $2.8m 0.02% New
45 OP Asset Management Ltd 0.03% of their portfolio HELSINKI, H9 289,527289.5k $2.7m $2.7m 0.03% New
46 Maven Securities LTD 0.25% of their portfolio ST HELIER, Y9 271,213271.2k $2.5m $2.5m 0.25% New
47 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 269,658269.7k $2.5m $2.5m 0.00% Added +152.0k +151,969
48 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 253,987254.0k $2.4m $2.4m 0.00% Added +45.0k +45,014
49 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 247,294247.3k $2.3m $2.3m 0.00% Reduced -159.7k -159,722
50 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 240,243240.2k $2.3m $2.3m 0.01% New
51 WOLVERINE ASSET MANAGEMENT LLC 0.03% of their portfolio CHICAGO, IL 236,442236.4k $2.2m $2.2m 0.03% New
52 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 234,415234.4k $2.2m $2.2m 0.00% Added +26.3k +26,297
53 Swiss National Bank 0.00% of their portfolio ZURICH, V8 225,800225.8k $2.1m $2.1m 0.00% Added +17.1k +17,100
54 ABC ARBITRAGE SA 0.20% of their portfolio PARIS, I0 194,030194.0k $1.8m $1.8m 0.20% New
55 XTX Topco Ltd 0.02% of their portfolio LONDON, X0 176,581176.6k $1.7m $1.7m 0.02% Reduced -427.1k -427,085
56 Blackstone Inc. 0.01% of their portfolio NEW YORK, NY 176,516176.5k $1.7m $1.7m 0.01% Unchanged
57 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 172,965173.0k $1.6m $1.6m 0.00% New
58 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 171,313171.3k $1.6m $1.6m 0.00% Added +56.9k +56,901
59 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 162,078162.1k $1.5m $1.5m 0.00% Added +38.0k +38,025
60 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 158,555158.6k $1.5m $1.5m 0.00% Reduced -7.4k -7,412
61 ALGERT GLOBAL LLC 0.02% of their portfolio SAN FRANCISCO, CA 151,340151.3k $1.4m $1.4m 0.02% New
62 Mint Tower Capital Management B.V. 0.17% of their portfolio AMSTERDAM, P7 150,900150.9k $1.4m $1.4m 0.17% New
63 JCP Investment Management, LLC 0.75% of their portfolio HOUSTON, TX 150,000150.0k $1.4m $1.4m 0.75% New
64 Alberta Investment Management Corp 0.01% of their portfolio EDMONTON, A0 150,000150.0k $1.4m $1.4m 0.01% New
65 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 145,015145.0k $1.4m $1.4m 0.00% Added +21.5k +21,538
66 CastleKnight Management LP 0.05% of their portfolio New York, NY 140,066140.1k $1.3m $1.3m 0.05% Added +1.1k +1,103
67 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 136,790136.8k $1.3m $1.3m 0.00% Added +109.8k +109,848
68 WATER ISLAND CAPITAL LLC 0.13% of their portfolio NEW YORK, NY 133,456133.5k $1.3m $1.3m 0.13% New
69 Kryger Capital LLC 0.07% of their portfolio HAMILTON, D0 130,598130.6k $1.2m $1.2m 0.07% New
70 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 128,128128.1k $1.2m $1.2m 0.00% Added +990 +990
71 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 114,800114.8k $1.1m $1.1m 0.00% Reduced -290.0k -290,020
72 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 111,740111.7k $1.0m $1.0m 0.00% Added +64.0k +64,044
73 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 103,947103.9k $977.0k $977.0k 0.00% Added +10.3k +10,292
74 Tidal Investments LLC 0.00% of their portfolio Milwaukee, WI 97,83297.8k $918.6k $918.6k 0.00% Reduced -71.8k -71,838
75 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 84,21084.2k $790.7k $790.7k 0.00% Added +7.7k +7,652
76 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 83,09283.1k $780.2k $780.2k 0.00% Added +11.7k +11,683
77 Legal & General Group Plc 0.00% of their portfolio London, X0 77,69177.7k $729.5k $729.5k 0.00% Added +38 +38
78 VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio London, EC4N 8AF, X0 74,92274.9k $703.5k $703.5k 0.00% Unchanged
79 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 74,64874.6k $700.9k $700.9k 0.00% Added +10.5k +10,451
80 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 74,18174.2k $696.6k $696.6k 0.00% Reduced -35.1k -35,080
81 MIRABELLA FINANCIAL SERVICES LLP 0.06% of their portfolio London, X0 68,03668.0k $638.9k $638.9k 0.06% Reduced -505.7k -505,685
82 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 65,94265.9k $619.2k $619.2k 0.00% Reduced -4.9k -4,882
83 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 63,53863.5k $596.6k $596.6k 0.00% Reduced -3.3k -3,343
84 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 60,55960.6k $568.6k $568.6k 0.00% Added +464 +464
85 Jump Financial, LLC 0.00% of their portfolio Chicago, IL 59,22459.2k $556.1k $556.1k 0.00% New
86 Ethic Inc. 0.01% of their portfolio NEW YORK, NY 58,46458.5k $549.0k $549.0k 0.01% Added +27.5k +27,525
87 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 58,26658.3k $547.1k $547.1k 0.00% Reduced -3.0k -2,987
88 HARBOR CAPITAL ADVISORS, INC. 0.04% of their portfolio CHICAGO, IL 57,15257.2k $537.0k $537.0k 0.04% Reduced -17.5k -17,536
89 ProShare Advisors LLC 0.00% of their portfolio BETHESDA, MD 56,07056.1k $526.5k $526.5k 0.00% Added +37.1k +37,133
90 GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio GREENWICH, CT 56,00056.0k $525.3k $525.3k 0.00% New
91 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 55,38155.4k $520.0k $520.0k 0.00% Reduced -150.2k -150,194
92 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 50,84550.8k $477.0k $477.0k 0.00% Added +540 +540
93 Vanguard Global Advisers, LLC 0.00% of their portfolio MALVERN, PA 43,10843.1k $404.8k $404.8k 0.00% Reduced -5.3k -5,336
94 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 41,85741.9k $393.0k $393.0k 0.00% Reduced -55.4k -55,408
95 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 41,70341.7k $391.6k $391.6k 0.00% Reduced -3.9k -3,861
96 Jain Global LLC 0.00% of their portfolio NEW YORK, NY 41,48241.5k $389.5k $389.5k 0.00% Reduced -10.7k -10,662
97 Handelsbanken Fonder AB 0.00% of their portfolio STOCKHOLM, V7 39,60039.6k $372.0k $372.0k 0.00% Added +8.7k +8,700
98 PRELUDE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 39,46239.5k $370.5k $370.5k 0.03% New
99 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 39,02439.0k $366.4k $366.4k 0.00% Added +28.8k +28,794
100 Virtu Financial LLC 0.01% of their portfolio New York, NY 38,62438.6k $363.0k $363.0k 0.01% New