13FPulse
中
GB

GBTG GLOBAL BUSINESS TRAVEL GROUP

2026Q2 · CUSIP 37890B100 · Sector: Industrials

Piling in

Net holder growth ranks near the top of the market

Funds that own it
187
Institutions that reported holding it to the SEC
Net increase in holders
+20
Last quarter 167 → now 187
How unusual is that
Top 20%
Stronger buying than 83% of US stocks
What the filings say, in one paragraph

187 funds held GBTG at the end of 2026Q2, up 20 from the quarter before. That is stronger buying than 83.1% of US stocks — among the most piled-into names this quarter. On the business itself, revenue over the last 12 months was $3.2B(YoY +30.2%), the P/E is 59.2x, return on equity is 5.6%. GBTG has had 5 buying rushes in its history, and the price moved -8.6% on average over the six months after (that is the raw price move, not how much it beat the market by). It sits in the Industrials sector.

How many funds owned it, quarter by quarter

Bars = net change in institutional holders, positive (green) or negative (red). Line = total institutional holders.

2022Q3: holders=39 2022Q4: holders=44 2023Q1: holders=41 2023Q2: holders=54 2023Q3: holders=63 2023Q4: holders=59 2024Q1: holders=64 2024Q2: holders=73 2024Q3: holders=97 2024Q4: holders=131 2025Q1: holders=147 2025Q2: holders=160 2025Q3: holders=161 2025Q4: holders=169 2026Q1: holders=167 2026Q2: holders=187 -34 -17 +0 +17 +34 35116197 22Q323Q123Q324Q124Q325Q125Q326Q126Q2 Net change in holders (bars) Total funds holding (line)

What happened after each past buying rush 5 times in its history

Quarter of the rush How unusual then Price, next 3 months Price, next 6 months
2026Q2 Top 20% — —
2025Q1 Top 20% +30.3% +17.6%
2024Q4 Top 20% -32.0% -12.4%
2024Q3 Top 20% -3.6% -31.3%
2023Q2 Top 20% -11.8% -8.4%

These are the raw price moves, not how much it beat the market by. Compare them against the market over the same months — in a strong bull market almost everything is up.

Show all the numbers (large funds, value held, options…) ▾
Of them, large funds
103
Change in large funds
+15
Total value they hold
$3.0B
Funds buying for the first time
62
Funds that sold out entirely
42
Price change that quarter
+0.4%
Funds holding puts (bearish)
0
Funds holding calls (bullish)
3

These are for people who want to dig. Skip them if they do not mean anything to you — the three numbers above are enough.

8,697 institutions have filed for this quarter. 13F permits late filing and a small number arrive in the weeks after the deadline, so the holder counts and changes below may tick up.

Fundamentals

PE (TTM)
59.2
EPS (TTM)
$0.16
EPS YoY
—
Revenue (TTM)
$3.2B
Revenue YoY
+30.2%
Net margin
2.9%
ROE
5.6%
Debt ratio
66.7%
FCF (TTM)
$102M
Dividend (TTM)
No dividend
Quarterly Revenue & EPS
2022-06-30: EPS 0.44 2022-09-30: EPS -0.05 2023-03-31: EPS -0.06 2023-06-30: EPS -0.03 2023-09-30: EPS -0.02 2023-12-31: EPS -0.19 2024-03-31: EPS -0.04 2024-06-30: EPS 0.06 2024-09-30: EPS -0.28 2024-12-31: EPS -0.04 2025-03-31: EPS 0.16 2025-06-30: EPS 0.03 2025-09-30: EPS -0.13 2025-12-31: EPS 0.16 2026-03-31: EPS 0.10 2026-06-30: EPS 0.03 0M 435M 870M $M -0.31 0.09 0.48 2019202020212022202320242025202606/26 Revenue EPS

Quarterly figures, revenue up to 10 years back; EPS split-adjusted, early quarters hidden when not calibrable

P/E (TTM) over time
20 198 377 2023202420252026

P/E = close around day 47 after quarter-end ÷ TTM EPS then; this is a consistent valuation date, not the company’s actual filing date; loss quarters hidden

Quarterly free cash flow
-330M-111M107M 202120222023202420252026
Latest quarter $-52M (2026-03-31)

FCF = operating cash flow − capex, computed from SEC XBRL; banks/insurers have no standard cash-flow structure and are hidden

As of 2026-06-30 · SEC filings (XBRL)

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2026 Q3 holdings are due 2026-11-16. We will email you when the refreshed lists are live.