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 |
Herc Holdings
HRI
|
+$47.7M |
| 2 |
United Airlines
UAL
|
+$14.7M |
| 3 |
DWRE
DEMANDWARE INC COM STK (DE)
DWRE
|
+$11.7M |
| 4 |
Zillow
ZG
|
+$11M |
| 5 |
TripAdvisor
TRIP
|
+$10.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LKM
Link Motion Inc.
LKM
|
+$28.3M |
| 2 |
Groupon
GRPN
|
+$17.8M |
| 3 |
MKTO
MARKETO INC COM STK (DE)
MKTO
|
+$5.05M |
| 4 |
FNSR
Finisar Corp
FNSR
|
+$3.36M |
| 5 |
Workday
WDAY
|
+$3.06M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 48.4% |
| 2 | Consumer Discretionary | 38.65% |
| 3 | Communication Services | 9.3% |
| 4 | Miscellaneous | 1.83% |
| 5 | Technology | 1.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
United Airlines
UAL
$38.9B
| $134M | 12.36% |
2,866,645
+316,965
| +12% | +$14.7M |
2013 Q2
5 quarters
|
|
2
Royal Caribbean
RCL
$90.5B
| $127M | 11.7% |
1,886,110
| – | – |
2013 Q2
5 quarters
|
|
3
Expedia Group
EXPE
$30.5B
| $126M | 11.63% |
1,440,447
| – | – |
2013 Q4
3 quarters
|
|
|
4
Herc Holdings
HRI
$5.59B
| $115M | 10.56% |
1,503,864
+558,333
| +59% | +$47.7M |
2013 Q2
5 quarters
|
|
5
Avis
CAR
$4.51B
| $103M | 9.45% |
1,868,543
| – | – |
2013 Q2
5 quarters
|
|
6
Booking.com
BKNG
$121B
| $95.4M | 8.8% |
2,059,500
+184,250
| +10% | +$9.07M |
2013 Q2
5 quarters
|
|
7
Meta Platforms (Facebook)
META
$1.64T
| $62.8M | 5.79% |
795,045
| – | – |
2013 Q2
5 quarters
|
|
8
Alaska Air
ALK
$4.64B
| $57.8M | 5.33% |
1,328,146
| – | – |
2013 Q2
5 quarters
|
|
9
Trip.com Group
TCOM
$27.8B
| $50.3M | 4.64% |
1,772,516
| – | – |
2013 Q2
5 quarters
|
|
10
Delta Air Lines
DAL
$60B
| $34.8M | 3.21% |
963,455
+200,000
| +26% | +$7.64M |
2013 Q2
5 quarters
|
|
11
American Airlines Group
AAL
$9.36B
| $26.7M | 2.46% |
753,148
| – | – |
2013 Q4
3 quarters
|
|
12
DELISTED
Hawaiian Holdings, Inc.
HA
| $24.1M | 2.22% |
1,790,112
| – | – |
2013 Q3
4 quarters
|
|
|
13
Groupon
GRPN
$627M
| $23.5M | 2.16% |
175,637
-136,863
| -44% | -$17.8M |
2013 Q3
4 quarters
|
|
14
Copa Holdings
CPA
$6.05B
| $23.5M | 2.16% |
218,654
-13,901
| -6% | -$1.85M |
2014 Q1
2 quarters
|
|
|
CNQR
15
DELISTED
CONCUR TECHNOLOGIES INC
CNQR
| $17.2M | 1.59% |
135,640
| – | – |
2013 Q4
3 quarters
|
|
|
DWRE
16
DELISTED
DEMANDWARE INC COM STK (DE)
DWRE
| $14.8M | 1.36% |
290,000
+205,975
| +245% | +$11.7M |
2013 Q2
5 quarters
|
|
|
17
TripAdvisor
TRIP
$844M
| $9.8M | 0.9% |
+107,306
| New | +$10.6M |
2014 Q3
0 quarters
|
|
|
18
Zillow
ZG
$7.03B
| $9.44M | 0.87% |
+244,083
| New | +$11M |
2014 Q3
0 quarters
|
|
19
DELISTED
Spirit Airlines, Inc.
SAVE
| $6.91M | 0.64% |
100,000
| – | – |
2013 Q2
5 quarters
|
|
20
Amazon
AMZN
$2.9T
| $6.45M | 0.59% |
400,000
+92,000
| +30% | +$1.53M |
2013 Q2
5 quarters
|
|
|
RHT
21
DELISTED
Red Hat Inc
RHT
| $5.16M | 0.48% |
91,952
| – | – |
2013 Q2
5 quarters
|
|
|
LKM
22
DELISTED
Link Motion Inc.
LKM
| $4.88M | 0.45% |
700,263
-4,626,771
| -87% | -$28.3M |
2013 Q2
5 quarters
|
|
23
Boyd Gaming
BYD
$5.53B
| $2.03M | 0.19% |
200,000
| – | – |
2013 Q2
5 quarters
|
|
|
LONG
24
DELISTED
ELONG, INC. AMERICAN DEPOSITARY SHARES
LONG
| $1.66M | 0.15% |
80,915
| – | – |
2013 Q2
5 quarters
|
|
25
Churchill Downs
CHDN
$6.81B
| $1.3M | 0.12% |
79,806
| – | – |
2013 Q2
5 quarters
|
|
Similar funds
Brad Gerstner's Q3 2014 Portfolio in Review
As of Q3 2014, Brad Gerstner held 35 positions worth $1.08B, up 5% from $1.03B the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Brad Gerstner deployed $46.7M of net new capital in Q3 2014, opening 2 new positions and adding to 6 existing holdings. Its largest new stake was Zillow: 244,083 shares worth $9.44M.
By sector, the portfolio is most concentrated in Industrials at 48% of assets, up from 47% a quarter earlier, followed by Consumer Discretionary and Communication Services.
On the sell side, the largest reduction was Link Motion Inc., an estimated $28.3M trimmed.
- Brad Gerstner's largest Q3 2014 buy was Zillow: 244,083 shares worth $9.44M.
- Brad Gerstner added most to Herc Holdings in Q3 2014, an estimated $47.7M increase.
- Brad Gerstner's biggest Q3 2014 reduction was Link Motion Inc., cutting an estimated $28.3M.
- Brad Gerstner fully exited MARKETO INC COM STK (DE) in Q3 2014, selling an estimated $5.05M.
- Brad Gerstner's ten largest holdings make up 83% of its $1.08B portfolio in Q3 2014.
- Brad Gerstner opened 2 new positions and closed 7 in Q3 2014.
- Brad Gerstner's portfolio value rose 5% quarter-over-quarter to $1.08B.
Based on Altimeter Capital Management's 13F filing for Q3 2014, filed 14 Nov 2014.