Large Sabre Corp (NASDAQ: SABR) stake reported by Constellation Software

Rhea-AI Filing Summary

CONSTELLATION SOFTWARE INC has filed an initial Form 3 showing a significant holding of Sabre Corp common stock. The filing reports that Constellation Canadian Holdings Inc. directly owns 39,522,821 shares of Sabre common stock.

As the direct parent of Constellation Canadian Holdings Inc., Constellation Software Inc. may be deemed to beneficially own these shares, and its president, Mark Miller, may also be deemed a beneficial owner. All reporting persons expressly disclaim beneficial ownership beyond their pecuniary interest, meaning they do not concede full economic or voting control over the entire position.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider CONSTELLATION SOFTWARE INC

Role 10% Owner

Type	Security	Shares	Price	Value
holding	Common Stock, $0.01 par value	--	--	--

Holdings After Transaction: Common Stock, $0.01 par value — 39,522,821 shares (Direct)

Footnotes (1)

1. This Form 3 is filed jointly by Constellation Software Inc ("Constellation Software"), Constellation Canadian Holdings Inc. ("Constellation Holdings"), and Mark Miller (collectively, the "Reporting Persons"). The EDGAR filing codes for Constellation Holdings and Mark Miller were not available at the time of this required filing, and the Reporting Persons intend to amend this Form 3 to include such Reporting Persons in the filing when such codes are available. Each Reporting Person disclaims beneficial ownership of the securities of the Issuer reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Securities owned directly by Constellation Holdings. As the direct parent company of Constellation Holdings, Constellation Software may be deemed to beneficially own the securities owned directly by Constellation Holdings. Mr. Miller, as the President of Constellation Software, may be deemed to beneficially own the securities owned directly by Constellation Holdings.

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

CONSTELLATION SOFTWARE INC

(Last) (First) (Middle)

66 WELLINGTON STREET WEST, SUITE 5300

TD BANK TOWER

(Street)

TORONTO A6 M5K 1E6

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/27/2026

3. Issuer Name and Ticker or Trading Symbol
Sabre Corp [ SABR ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, $0.01 par value(1)	39,522,821	D(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This Form 3 is filed jointly by Constellation Software Inc ("Constellation Software"), Constellation Canadian Holdings Inc. ("Constellation Holdings"), and Mark Miller (collectively, the "Reporting Persons"). The EDGAR filing codes for Constellation Holdings and Mark Miller were not available at the time of this required filing, and the Reporting Persons intend to amend this Form 3 to include such Reporting Persons in the filing when such codes are available. Each Reporting Person disclaims beneficial ownership of the securities of the Issuer reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

2. Securities owned directly by Constellation Holdings. As the direct parent company of Constellation Holdings, Constellation Software may be deemed to beneficially own the securities owned directly by Constellation Holdings. Mr. Miller, as the President of Constellation Software, may be deemed to beneficially own the securities owned directly by Constellation Holdings.

	/s/ Constellation Software Inc., By Mark Dennison, Secretary and General Counsel	03/03/2026
	/s/ Constellation Canadian Holdings., By Jamal Baksh, Chief Financial Officer	03/03/2026
	/s/ Mark Miller	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does Constellation Software’s Form 3 disclose about Sabre Corp (SABR)?

The Form 3 discloses an initial ownership report in Sabre Corp. It shows 39,522,821 shares of Sabre common stock are owned directly by Constellation Canadian Holdings Inc., a subsidiary of Constellation Software Inc., establishing a large shareholder position.

How many Sabre Corp shares are reported on this Form 3 for SABR?

The filing reports 39,522,821 shares of Sabre Corp common stock. These shares are held directly by Constellation Canadian Holdings Inc., with Constellation Software Inc. and its president Mark Miller potentially deemed beneficial owners, subject to their stated ownership disclaimers.

Who is the direct owner of the SABR shares reported in this Form 3?

The shares are owned directly by Constellation Canadian Holdings Inc. The filing states that Constellation Software Inc., as its parent, and Mark Miller, as president, may be deemed beneficial owners of the Sabre Corp shares held by this subsidiary.

How does Constellation Software characterize its beneficial ownership in Sabre Corp (SABR)?

Constellation Software and the other reporting persons expressly disclaim beneficial ownership except to the extent of their pecuniary interest. The language indicates they do not admit to full beneficial ownership of all reported Sabre Corp shares for Section 16 or other legal purposes.

Why are multiple reporting persons mentioned in Sabre Corp’s Form 3 for SABR?

The Form 3 is filed jointly by Constellation Software Inc., Constellation Canadian Holdings Inc., and Mark Miller. It explains their respective roles and notes an intention to amend the filing once EDGAR codes for certain reporting persons become available.

Does this Sabre Corp (SABR) Form 3 reflect a buy or sell transaction?

The Form 3 is an initial statement of beneficial ownership, not a trade report. It shows an existing position of 39,522,821 Sabre Corp shares, with the transaction direction classified as unknown and no explicit purchase or sale activity detailed.