American Express Global Business Travel
GBTG
171 hedge funds and large institutions have $2.22B invested in American Express Global Business Travel in 2025 Q4 according to their latest regulatory filings, with 33 funds opening new positions, 79 increasing their positions, 36 reducing their positions, and 23 closing their positions.
119% more repeat investments, than reductions
Existing positions increased: 79 | Existing positions reduced: 36
43% more first-time investments, than exits
New positions opened: 33 | Existing positions closed: 23
5% more funds holding
Funds holding: 163 → 171 (+8)
0% more capital invested
Capital invested by funds: $2.22B → $2.22B (+$3.74M)
3.22% less ownership
Funds ownership: 58.74% → 55.52% (-3.2%)
9% less funds holding in top 10
Funds holding in top 10: 11 → 10 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Vanguard Group
Malvern,
Pennsylvania
|
+$21.3M |
| 2 |
BlackRock
New York
|
+$14.8M |
| 3 |
Millennium Management
New York
|
+$12.5M |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$4.6M |
| 5 |
First Trust Advisors
Wheaton,
Illinois
|
+$4.47M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACA
Anchorage Capital Advisors
New York
|
-$27.9M |
| 2 |
AMH
Apollo Management Holdings
New York
|
-$21.9M |
| 3 |
CCM
Carronade Capital Management
Darien,
Connecticut
|
-$13.8M |
| 4 |
Fidelity Investments
Boston,
Massachusetts
|
-$5.25M |
| 5 |
BPCM
Beach Point Capital Management
Santa Monica,
California
|
-$3.9M |
GBTG Hedge Fund Activity: Q4 2025 in Review
171 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in American Express Global Business Travel (GBTG) for Q4 2025, worth a combined $2.22B — up 0.17% from $2.22B a quarter earlier.
Buyers outnumbered sellers: 33 funds opened new GBTG positions and 23 closed out — a net gain of 10 holders — while 79 added to existing stakes and 36 trimmed.
The largest buyer was Vanguard Group, adding an estimated $21.3M. The largest seller was Anchorage Capital Advisors, cutting an estimated $27.9M.
- 171 institutional investors held American Express Global Business Travel (GBTG) as of Q4 2025, up from 163 in Q3 2025.
- Funds reported $2.22B of American Express Global Business Travel stock for Q4 2025, up 0.17% quarter-over-quarter.
- 33 funds opened new American Express Global Business Travel positions in Q4 2025 and 23 closed out, a net change of +10 holders.
- The largest American Express Global Business Travel buyer in Q4 2025 was Vanguard Group, an estimated $21.3M added.
- The largest American Express Global Business Travel seller in Q4 2025 was Anchorage Capital Advisors, an estimated $27.9M sold.
Based on aggregated 13F filings for Q4 2025.