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American Express Global Business Travel
GBTG

43 hedge funds and large institutions have $301M invested in American Express Global Business Travel in 2022 Q2 according to their latest regulatory filings, with 21 funds opening new positions, 5 increasing their positions, 13 reducing their positions, and 97 closing their positions.

New
Increased
Maintained
Reduced
Closed

396% more call options, than puts

Call options by funds: $8.08M | Put options by funds: $1.63M

58.37% more ownership

Funds ownership: 0% → 58.37% (+58%)

40% more funds holding in top 10

Funds holding in top 10: 5 → 7 (+2)

58% less capital invested

Capital invested by funds: $721M → $301M (-$420M)

62% less repeat investments, than reductions

Existing positions increased: 5 | Existing positions reduced: 13

64% less funds holding

Funds holding: 119 → 43 (-76)

78% less first-time investments, than exits

New positions opened: 21 | Existing positions closed: 97

Holders
43
Holders Change
-76
Holders Change %
-63.87%
% of All Funds
0.72%
Holding in Top 10
7
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+40%
% of All Funds
0.12%
New
21
Increased
5
Reduced
13
Closed
97
Calls
$8.08M
Puts
$1.63M
Net Calls
+$6.45M
Net Calls Change
-$21.9M

Top Buyers

Rank Fund Capital Flow
1
AMH
Apollo Management Holdings
New York
+$196M
2
AM
Ares Management
California
+$76.1M
3
HVCM
HG Vora Capital Management
New York
+$71.9M
4
ZC
Zoom Communications
California
+$35.1M
5
DC
Dendur Capital
New York
+$9.99M

Top Sellers

Rank Fund Capital Flow
1
Marshall Wace
Marshall Wace
United Kingdom
-$60.8M
2
ECP
Empyrean Capital Partners
California
-$56.7M
3
LA
Linden Advisors
New York
-$27.6M
4
Hudson Bay Capital Management
Hudson Bay Capital Management
Connecticut
-$26.2M
5
Millennium Management
Millennium Management
New York
-$25.2M
Name Holding Trade Value Shares
Change 		Change in
Stake
RL
76
RPO LLC
Connecticut
– -$5.62M -564,998 Closed
SCC
77
Spring Creek Capital
Kansas
– -$5.11M -513,934 Closed
SRF
78
Silver Rock Financial
California
– -$5.04M -505,998 Closed
CCM
79
Candlestick Capital Management
Connecticut
– -$4.97M -500,000 Closed
AWG
80
Alpha Wave Global
New York
– -$4.51M -453,552 Closed
WRBC
81
W.R. Berkley Corp
Connecticut
– -$4.5M -451,976 Closed
ASM
82
ATW SPAC Management
New York
– -$3.98K -400,000 Closed
IPCP
83
Iron Park Capital Partners
New York
– -$3.98M -400,000 Closed
ACA
84
Arena Capital Advisors
California
– -$3.92M -393,708 Closed
AGM
85
Alpine Global Management
New York
– -$2.98K -300,000 Closed
OCAM
86
Owl Creek Asset Management
New York
– -$2.98M -300,000 Closed
Verition Fund Management
87
Verition Fund Management
Connecticut
– -$2.65M -266,250 Closed
CC
88
Centiva Capital
New York
– -$2.58M -259,800 Closed
MCM
89
Moore Capital Management
New York
– -$2.49M -250,000 Closed
OCM
90
Oribel Capital Management
New York
– -$2.41M -246,130 Closed
JG
91
Jefferies Group
New York
– -$2.34M -235,018 Closed
AGC
92
Angelo Gordon & Co
New York
– -$1.99M -200,000 Closed
Deutsche Bank
93
Deutsche Bank
Germany
– -$1.99M -200,000 Closed
ECU
94
Eisler Capital (UK)
United Kingdom
– -$1.99M -200,000 Closed
MCP
95
Maso Capital Partners
Hong Kong
– -$1.99M -200,000 Closed
PMAM
96
Picton Mahoney Asset Management
Ontario, Canada
– -$1.99M -200,000 Closed
SIA
97
SkyView Investment Advisors
New Jersey
– -$1.71M -171,893 Closed
JRCM
98
Jones Road Capital Management
New York
– -$1.61M -162,000 Closed
Toronto Dominion Bank
99
Toronto Dominion Bank
Ontario, Canada
– -$1.56M -156,705 Closed
DCM
100
Dupont Capital Management
Delaware
– -$1.49M -150,000 Closed
2 3
4
5 6

GBTG Hedge Fund Activity: Q2 2022 in Review

43 of the 5,936 institutional investors tracked by Wall St. Rank reported a position in American Express Global Business Travel (GBTG) for Q2 2022, worth a combined $301M — down 58% from $721M a quarter earlier.

Sellers outnumbered buyers: 97 funds closed out of GBTG and 21 opened new positions — a net loss of 76 holders — while 13 trimmed existing stakes and 5 added.

The largest buyer was Apollo Management Holdings, opening a new position worth an estimated $196M. The largest seller was Marshall Wace, exiting entirely with an estimated $60.8M sold.

  • 43 institutional investors held American Express Global Business Travel (GBTG) as of Q2 2022, down from 119 in Q1 2022.
  • Funds reported $301M of American Express Global Business Travel stock for Q2 2022, down 58% quarter-over-quarter.
  • 21 funds opened new American Express Global Business Travel positions in Q2 2022 and 97 closed out, a net change of -76 holders.
  • The largest American Express Global Business Travel buyer in Q2 2022 was Apollo Management Holdings, an estimated $196M added.
  • The largest American Express Global Business Travel seller in Q2 2022 was Marshall Wace, an estimated $60.8M sold.

Based on aggregated 13F filings for Q2 2022.