Ares Management’s American Express Global Business Travel GBTG Stock Holding History

Ares Management’s Portfolio GBTG Stock Details GBTG Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q2	$40.7M	Sell	4,338,264 -9,547,759	-69%	-$77.4M	1.78%	10
2026 Q1	$77.5M	Hold	13,886,023	–	–	5.11%	3
2025 Q4	$106M	Hold	13,886,023	–	–	6.07%	2
2025 Q3	$112M	Hold	13,886,023	–	–	5.09%	2
2025 Q2	$87.5M	Buy	13,886,023 +2,489,506	+22%	+$16M	4.47%	3
2025 Q1	$82.7M	Hold	11,396,517	–	–	5.08%	3
2024 Q4	$106M	Hold	11,396,517	–	–	3.72%	3
2024 Q3	$87.6M	Buy	11,396,517 +512,478	+5%	+$3.55M	2.43%	5
2024 Q2	$71.8M	Buy	10,884,039 +1,867,266	+21%	+$11.5M	2.13%	5
2024 Q1	$54.2M	Hold	9,016,773	–	–	1.24%	6
2023 Q4	$58.2M	Buy	9,016,773 +231,457	+3%	+$1.32M	1.41%	6
2023 Q3	$48.3M	Buy	8,785,316 +109,748	+1%	+$707K	1.25%	5
2023 Q2	$62.7M	Hold	8,675,568	–	–	1.29%	6
2023 Q1	$57.5M	Hold	8,675,568	–	–	3.18%	5
2022 Q4	$58.6M	Hold	8,675,568	–	–	2.88%	5
2022 Q3	$49.1M	Hold	8,675,568	–	–	2.28%	8
2022 Q2	$54.7M	Buy	+8,675,568	New	+$76.1M	2.81%	5

Other funds holding GBTG

American Express New York $1.48B AUM 49.05% 1-Year Est. Return

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

AMH

Apollo Management Holdings New York $8.94B AUM 120.19% 1-Year Est. Return

RCM

Redwood Capital Management New York $927M AUM 153.64% 1-Year Est. Return

NAM

Nexpoint Asset Management Dallas, Texas $1.5B AUM 83.46% 1-Year Est. Return

Vanguard Portfolio Management Malvern, Pennsylvania $2.22T AUM

Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM

GCL

Glazer Capital LLC New York $4.07B AUM 78.71% 1-Year Est. Return

PAMP

Polar Asset Management Partners Toronto, Ontario, Canada $6.07B AUM 34.81% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $552B AUM 44.19% 1-Year Est. Return

Ares Management's GBTG Position: Q2 2026 in Review

Ares Management reduced its American Express Global Business Travel (GBTG) stake by 69% in Q2 2026, selling an estimated $77.4M and leaving 4,338,264 shares worth $40.7M. The position accounts for 1.78% of the portfolio, ranked #10.

Ares Management first reported a position in GBTG in Q2 2022 and has held it in 17 quarters since. The position peaked at $112M in Q3 2025. 192 funds tracked by Wall St. Rank hold GBTG as of Q2 2026.

Ares Management held 4,338,264 shares of American Express Global Business Travel worth $40.7M as of Q2 2026.
Ares Management sold 9,547,759 American Express Global Business Travel shares in Q2 2026, an estimated $77.4M.
American Express Global Business Travel made up 1.78% of Ares Management's portfolio in Q2 2026, its #10 holding.
Ares Management first reported a position in American Express Global Business Travel in Q2 2022 and has held it in 17 quarters since.
Ares Management's American Express Global Business Travel position peaked at $112M in Q3 2025.
192 funds tracked by Wall St. Rank held American Express Global Business Travel as of Q2 2026.

Based on Ares Management's 13F filing for Q2 2026, filed 14 Aug 2026.