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 |
United Airlines
UAL
|
+$21.4M |
| 2 |
Herc Holdings
HRI
|
+$14M |
| 3 |
Expedia Group
EXPE
|
+$13M |
| 4 |
Copa Holdings
CPA
|
+$11.2M |
| 5 |
CNQR
CONCUR TECHNOLOGIES INC
CNQR
|
+$10.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LKM
Link Motion Inc.
LKM
|
+$10M |
| 2 |
RP
RealPage, Inc.
RP
|
+$2.54M |
| 3 |
Nebius Group N.V.
NBIS
|
+$2.23M |
| 4 |
Qualcomm
QCOM
|
+$1.97M |
| 5 |
ENT
Global Eagle Entertainment Inc.
ENT
|
+$1.58M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 46.91% |
| 2 | Consumer Discretionary | 36.28% |
| 3 | Communication Services | 9.67% |
| 4 | Technology | 4.87% |
| 5 | Miscellaneous | 2.27% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Expedia Group
EXPE
$34.1B
| $113M | 10.98% |
1,440,447
+178,156
| +14% | +$13M |
2013 Q4
2 quarters
|
|
2
Avis
CAR
$3.6B
| $112M | 10.79% |
1,868,543
| – | – |
2013 Q2
4 quarters
|
|
3
Royal Caribbean
RCL
$75B
| $105M | 10.15% |
1,886,110
| – | – |
2013 Q2
4 quarters
|
|
|
4
United Airlines
UAL
$32.7B
| $105M | 10.13% |
2,549,680
+496,059
| +24% | +$21.4M |
2013 Q2
4 quarters
|
|
5
Booking.com
BKNG
$115B
| $90.2M | 8.73% |
1,875,250
+100,725
| +6% | +$4.83M |
2013 Q2
4 quarters
|
|
|
6
Herc Holdings
HRI
$4.25B
| $79.5M | 7.69% |
945,531
+166,667
| +21% | +$14M |
2013 Q2
4 quarters
|
|
7
Alaska Air
ALK
$3.9B
| $63.1M | 6.11% |
1,328,146
| – | – |
2013 Q2
4 quarters
|
|
8
Trip.com Group
TCOM
$25.1B
| $56.8M | 5.49% |
1,772,516
+200,000
| +13% | +$5.39M |
2013 Q2
4 quarters
|
|
9
Meta Platforms (Facebook)
META
$1.61T
| $53.5M | 5.18% |
795,045
| – | – |
2013 Q2
4 quarters
|
|
10
Groupon
GRPN
$677M
| $41.4M | 4% |
312,500
+37,500
| +14% | +$4.94M |
2013 Q3
3 quarters
|
|
|
11
Copa Holdings
CPA
$5.31B
| $33.2M | 3.21% |
232,555
+79,978
| +52% | +$11.2M |
2014 Q1
1 quarter
|
|
|
LKM
12
DELISTED
Link Motion Inc.
LKM
| $32.7M | 3.16% |
5,327,034
-950,518
| -15% | -$10M |
2013 Q2
4 quarters
|
|
13
American Airlines Group
AAL
$8.08B
| $32.4M | 3.13% |
753,148
| – | – |
2013 Q4
2 quarters
|
|
14
Delta Air Lines
DAL
$52.1B
| $29.6M | 2.86% |
763,455
+196,586
| +35% | +$7.42M |
2013 Q2
4 quarters
|
|
15
DELISTED
Hawaiian Holdings, Inc.
HA
| $24.5M | 2.37% |
1,790,112
| – | – |
2013 Q3
3 quarters
|
|
|
CNQR
16
DELISTED
CONCUR TECHNOLOGIES INC
CNQR
| $12.7M | 1.23% |
135,640
+124,500
| +1,118% | +$10.9M |
2013 Q4
2 quarters
|
|
17
DELISTED
Spirit Airlines, Inc.
SAVE
| $6.32M | 0.61% |
100,000
| – | – |
2013 Q2
4 quarters
|
|
|
DWRE
18
DELISTED
DEMANDWARE INC COM STK (DE)
DWRE
| $5.83M | 0.56% |
84,025
+64,025
| +320% | +$3.67M |
2013 Q2
4 quarters
|
|
|
RHT
19
DELISTED
Red Hat Inc
RHT
| $5.08M | 0.49% |
91,952
| – | – |
2013 Q2
4 quarters
|
|
|
MKTO
20
DELISTED
MARKETO INC COM STK (DE)
MKTO
| $5.05M | 0.49% |
+173,640
| New | +$4.72M |
2014 Q2
0 quarters
|
|
21
Amazon
AMZN
$2.69T
| $5M | 0.48% |
308,000
+204,000
| +196% | +$3.23M |
2013 Q2
4 quarters
|
|
|
FNSR
22
DELISTED
Finisar Corp
FNSR
| $3.36M | 0.33% |
170,300
| – | – |
2013 Q2
4 quarters
|
|
23
Workday
WDAY
$50.2B
| $3.06M | 0.3% |
+34,000
| New | +$2.68M |
2014 Q2
0 quarters
|
|
|
GIMO
24
DELISTED
Gigamon Inc.
GIMO
| $2.58M | 0.25% |
+135,000
| New | +$2.44M |
2014 Q2
0 quarters
|
|
|
ARUN
25
DELISTED
ARUBA NETWORKS, INC.
ARUN
| $2.46M | 0.24% |
140,199
| – | – |
2013 Q3
3 quarters
|
|
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Brad Gerstner's Q2 2014 Portfolio in Review
As of Q2 2014, Brad Gerstner held 39 positions worth $1.03B, up 5.6% from $979M the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Brad Gerstner deployed $88.8M of net new capital in Q2 2014, opening 3 new positions and adding to 11 existing holdings. Its largest new stake was MARKETO INC COM STK (DE): 173,640 shares worth $5.05M.
By sector, the portfolio is most concentrated in Industrials at 47% of assets, up from 42% a quarter earlier, followed by Consumer Discretionary and Communication Services.
On the sell side, the largest reduction was Link Motion Inc., an estimated $10M trimmed.
- Brad Gerstner's largest Q2 2014 buy was MARKETO INC COM STK (DE): 173,640 shares worth $5.05M.
- Brad Gerstner added most to United Airlines in Q2 2014, an estimated $21.4M increase.
- Brad Gerstner's biggest Q2 2014 reduction was Link Motion Inc., cutting an estimated $10M.
- Brad Gerstner fully exited RealPage, Inc. in Q2 2014, selling an estimated $2.54M.
- Brad Gerstner's ten largest holdings make up 79% of its $1.03B portfolio in Q2 2014.
- Brad Gerstner opened 3 new positions and closed 6 in Q2 2014.
- Brad Gerstner's portfolio value rose 5.6% quarter-over-quarter to $1.03B.
Based on Altimeter Capital Management's 13F filing for Q2 2014, filed 14 Aug 2014.