Brad Gerstner Altimeter Capital Management
Brad Gerstner is the founder and CEO of Altimeter Capital, a technology-focused investment firm active in both public and private markets. A former internet entrepreneur and airline executive, he brings an operator’s lens to high-growth software, internet, and semiconductor businesses. Gerstner is frequently cited for concentrated bets on large-cap technology platforms and for outspoken commentary on AI infrastructure and capital allocation in the sector.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LKM
Link Motion Inc.
LKM
|
+$45.7M |
| 2 |
Herc Holdings
HRI
|
+$32.2M |
| 3 |
Copa Holdings
CPA
|
+$21.2M |
| 4 |
Groupon
GRPN
|
+$12.1M |
| 5 |
United Airlines
UAL
|
+$3.29M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$31M |
| 2 |
Meta Platforms (Facebook)
META
|
+$21.2M |
| 3 |
Alaska Air
ALK
|
+$4.18M |
| 4 |
CALD
Callidus Software, Inc.
CALD
|
+$1.54M |
| 5 |
MODEL N, INC.
MODN
|
+$886K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 41.61% |
| 2 | Consumer Discretionary | 33.23% |
| 3 | Technology | 12.9% |
| 4 | Communication Services | 10.31% |
| 5 | Miscellaneous | 1.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
LKM
1
DELISTED
Link Motion Inc.
LKM
| $111M | 11.3% |
6,277,552
+2,583,658
| +70% | +$45.7M |
2013 Q2
3 quarters
|
|
2
Royal Caribbean
RCL
$86.5B
| $103M | 10.52% |
1,886,110
| – | – |
2013 Q2
3 quarters
|
|
|
3
United Airlines
UAL
$35.5B
| $91.7M | 9.37% |
2,053,621
+73,083
| +4% | +$3.29M |
2013 Q2
3 quarters
|
|
4
Expedia Group
EXPE
$30.6B
| $91.5M | 9.35% |
1,262,291
+21,572
| +2% | +$1.56M |
2013 Q4
1 quarter
|
|
5
Avis
CAR
$4.43B
| $91M | 9.3% |
1,868,543
| – | – |
2013 Q2
3 quarters
|
|
|
6
Booking.com
BKNG
$119B
| $84.6M | 8.65% |
1,774,525
-627,975
| -26% | -$31M |
2013 Q2
3 quarters
|
|
|
7
Herc Holdings
HRI
$5.53B
| $62.2M | 6.36% |
778,864
+400,000
| +106% | +$32.2M |
2013 Q2
3 quarters
|
|
|
8
Alaska Air
ALK
$4.34B
| $62M | 6.33% |
1,328,146
-100,800
| -7% | -$4.18M |
2013 Q2
3 quarters
|
|
|
9
Meta Platforms (Facebook)
META
$1.64T
| $47.9M | 4.89% |
795,045
-334,900
| -30% | -$21.2M |
2013 Q2
3 quarters
|
|
|
10
Groupon
GRPN
$496M
| $43.1M | 4.41% |
275,000
+62,356
| +29% | +$12.1M |
2013 Q3
2 quarters
|
|
11
Trip.com Group
TCOM
$27.4B
| $39.6M | 4.05% |
1,572,516
| – | – |
2013 Q2
3 quarters
|
|
12
American Airlines Group
AAL
$8.73B
| $27.6M | 2.82% |
753,148
| – | – |
2013 Q4
1 quarter
|
|
13
DELISTED
Hawaiian Holdings, Inc.
HA
| $25M | 2.55% |
1,790,112
| – | – |
2013 Q3
2 quarters
|
|
|
14
Copa Holdings
CPA
$5.75B
| $22.2M | 2.26% |
+152,577
| New | +$21.2M |
2014 Q1
0 quarters
|
|
15
Delta Air Lines
DAL
$56.7B
| $19.6M | 2.01% |
566,869
| – | – |
2013 Q2
3 quarters
|
|
|
LKM
16
CALL
DELISTED
Link Motion Inc.
LKM
| $10.9M | 1.12% |
17,710
-4,290
| -20% | -$75.9K |
2013 Q4
1 quarter
|
|
17
DELISTED
Spirit Airlines, Inc.
SAVE
| $5.94M | 0.61% |
100,000
| – | – |
2013 Q2
3 quarters
|
|
|
RHT
18
DELISTED
Red Hat Inc
RHT
| $4.87M | 0.5% |
91,952
| – | – |
2013 Q2
3 quarters
|
|
|
FNSR
19
DELISTED
Finisar Corp
FNSR
| $4.52M | 0.46% |
170,300
| – | – |
2013 Q2
3 quarters
|
|
|
20
CALL
Groupon
GRPN
$496M
| $3.15M | 0.32% |
+800
| New | +$155K |
2014 Q1
0 quarters
|
|
21
Boyd Gaming
BYD
$5.46B
| $2.64M | 0.27% |
200,000
| – | – |
2013 Q2
3 quarters
|
|
|
ARUN
22
DELISTED
ARUBA NETWORKS, INC.
ARUN
| $2.63M | 0.27% |
140,199
| – | – |
2013 Q3
2 quarters
|
|
|
TNGO
23
DELISTED
Tangoe, Inc.
TNGO
| $2.59M | 0.26% |
139,106
| – | – |
2013 Q2
3 quarters
|
|
|
RP
24
DELISTED
RealPage, Inc.
RP
| $2.54M | 0.26% |
140,000
| – | – |
2013 Q2
3 quarters
|
|
25
Nebius Group N.V.
NBIS
$33.9B
| $2.23M | 0.23% |
73,967
+13,967
| +23% | +$515K |
2013 Q2
3 quarters
|
|
Similar funds
Brad Gerstner's Q1 2014 Portfolio in Review
As of Q1 2014, Brad Gerstner held 38 positions worth $979M, up 17% from $836M the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Brad Gerstner deployed $60.3M of net new capital in Q1 2014, opening 2 new positions and adding to 8 existing holdings. Its largest new stake was Copa Holdings: 152,577 shares worth $22.2M.
By sector, the portfolio is most concentrated in Industrials at 42% of assets, up from 35% a quarter earlier, followed by Consumer Discretionary and Technology.
On the sell side, the largest reduction was Booking.com, an estimated $31M trimmed.
- Brad Gerstner's largest Q1 2014 buy was Copa Holdings: 152,577 shares worth $22.2M.
- Brad Gerstner added most to Link Motion Inc. in Q1 2014, an estimated $45.7M increase.
- Brad Gerstner's biggest Q1 2014 reduction was Booking.com, cutting an estimated $31M.
- Brad Gerstner fully exited Callidus Software, Inc. in Q1 2014, selling an estimated $1.54M.
- Brad Gerstner's ten largest holdings make up 80% of its $979M portfolio in Q1 2014.
- Brad Gerstner opened 2 new positions and closed 2 in Q1 2014.
- Brad Gerstner's portfolio value rose 17% quarter-over-quarter to $979M.
Based on Altimeter Capital Management's 13F filing for Q1 2014, filed 15 May 2014.