American Express Global Business Travel
GBTG
163 hedge funds and large institutions have $2.22B invested in American Express Global Business Travel in 2025 Q3 according to their latest regulatory filings, with 31 funds opening new positions, 53 increasing their positions, 55 reducing their positions, and 27 closing their positions.
120% more funds holding in top 10
Funds holding in top 10: 5 → 11 (+6)
45% more capital invested
Capital invested by funds: $1.54B → $2.22B (+$684M)
15% more first-time investments, than exits
New positions opened: 31 | Existing positions closed: 27
7.8% more ownership
Funds ownership: 50.94% → 58.74% (+7.8%)
1% more funds holding
Funds holding: 161 → 163 (+2)
4% less repeat investments, than reductions
Existing positions increased: 53 | Existing positions reduced: 55
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Redwood Capital Management
New York
|
+$159M |
| 2 |
ACA
Anchorage Capital Advisors
New York
|
+$53.2M |
| 3 |
MAC
Monarch Alternative Capital
New York
|
+$52.9M |
| 4 |
BCA
Boundary Creek Advisors
New York
|
+$20.3M |
| 5 |
Wellington Management Group
Boston,
Massachusetts
|
+$6.38M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CCM
Carronade Capital Management
Darien,
Connecticut
|
-$6.72M |
| 2 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$3.09M |
| 3 |
GSWM
Golden State Wealth Management
Santa Ana,
California
|
-$2.45M |
| 4 |
First Trust Advisors
Wheaton,
Illinois
|
-$2.43M |
| 5 |
BPCM
Beach Point Capital Management
Santa Monica,
California
|
-$2.13M |
GBTG Hedge Fund Activity: Q3 2025 in Review
163 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in American Express Global Business Travel (GBTG) for Q3 2025, worth a combined $2.22B — up 45% from $1.54B a quarter earlier.
Buyers outnumbered sellers: 31 funds opened new GBTG positions and 27 closed out — a net gain of 4 holders — while 53 added to existing stakes and 55 trimmed.
The largest buyer was Redwood Capital Management, opening a new position worth an estimated $159M. The largest seller was Carronade Capital Management, cutting an estimated $6.72M.
- 163 institutional investors held American Express Global Business Travel (GBTG) as of Q3 2025, up from 161 in Q2 2025.
- Funds reported $2.22B of American Express Global Business Travel stock for Q3 2025, up 45% quarter-over-quarter.
- 31 funds opened new American Express Global Business Travel positions in Q3 2025 and 27 closed out, a net change of +4 holders.
- The largest American Express Global Business Travel buyer in Q3 2025 was Redwood Capital Management, an estimated $159M added.
- The largest American Express Global Business Travel seller in Q3 2025 was Carronade Capital Management, an estimated $6.72M sold.
Based on aggregated 13F filings for Q3 2025.