American Express Global Business Travel
GBTG
169 hedge funds and large institutions have $1.85B invested in American Express Global Business Travel in 2026 Q1 according to their latest regulatory filings, with 45 funds opening new positions, 45 increasing their positions, 54 reducing their positions, and 46 closing their positions.
7.83% more ownership
Funds ownership: 55.52% → 63.35% (+7.8%)
0% more funds holding in top 10
Funds holding in top 10: 10 → 10 (0)
2% less first-time investments, than exits
New positions opened: 45 | Existing positions closed: 46
1% less funds holding
Funds holding: 171 → 169 (-2)
17% less repeat investments, than reductions
Existing positions increased: 45 | Existing positions reduced: 54
17% less capital invested
Capital invested by funds: $2.22B → $1.85B (-$372M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
+$242M |
| 2 |
BCP
BlackBarn Capital Partners
New York
|
+$12.4M |
| 3 |
Dimensional Fund Advisors
Austin,
Texas
|
+$5.82M |
| 4 |
PCM
PAR Capital Management
Boston,
Massachusetts
|
+$4.99M |
| 5 |
MAC
Monarch Alternative Capital
New York
|
+$4.11M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$9.28M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$3.08M |
| 3 |
Goldman Sachs
New York
|
-$2.67M |
| 4 |
Morgan Stanley
New York
|
-$2.66M |
| 5 |
NICM
Neo Ivy Capital Management
New York
|
-$2.27M |
GBTG Hedge Fund Activity: Q1 2026 in Review
169 of the 8,187 institutional investors tracked by Wall St. Rank reported a position in American Express Global Business Travel (GBTG) for Q1 2026, worth a combined $1.85B — down 17% from $2.22B a quarter earlier.
Sellers outnumbered buyers: 46 funds closed out of GBTG and 45 opened new positions — a net loss of 1 holder — while 54 trimmed existing stakes and 45 added.
The largest buyer was BlackRock, adding an estimated $242M. The largest seller was Millennium Management, cutting an estimated $9.28M.
- 169 institutional investors held American Express Global Business Travel (GBTG) as of Q1 2026, down from 171 in Q4 2025.
- Funds reported $1.85B of American Express Global Business Travel stock for Q1 2026, down 17% quarter-over-quarter.
- 45 funds opened new American Express Global Business Travel positions in Q1 2026 and 46 closed out, a net change of -1 holder.
- The largest American Express Global Business Travel buyer in Q1 2026 was BlackRock, an estimated $242M added.
- The largest American Express Global Business Travel seller in Q1 2026 was Millennium Management, an estimated $9.28M sold.
Based on aggregated 13F filings for Q1 2026.