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Brad Gerstner Altimeter Capital Management

AUM $9.83B
1-Year Est. Return 24.98%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+2.23%
1 Year Est. Return
+24.98%
3 Year Est. Return
+186.54%
5 Year Est. Return
+145.07%
10 Year Est. Return
+1,056.52%
AUM
$1.08B
AUM Growth
+$51.4M
Cap. Flow
+$46.7M
Cap. Flow %
4.31%
Top 10 Hldgs %
83.48%
Holding
35
New
2
Increased
6
Reduced
4
Closed
7

Top Buys

Rank Stock Value
1
HRI icon
Herc Holdings
HRI
+$47.7M
2
UAL icon
United Airlines
UAL
+$14.7M
3
DWRE
DEMANDWARE INC COM STK (DE)
DWRE
+$11.7M
4
ZG icon
Zillow
ZG
+$11M
5
TRIP icon
TripAdvisor
TRIP
+$10.6M

Top Sells

Rank Stock Value
1
LKM
Link Motion Inc.
LKM
+$28.3M
2
GRPN icon
Groupon
GRPN
+$17.8M
3
MKTO
MARKETO INC COM STK (DE)
MKTO
+$5.05M
4
FNSR
Finisar Corp
FNSR
+$3.36M
5
WDAY icon
Workday
WDAY
+$3.06M

Sector Composition

Rank Sector Weight
1 Industrials 48.4%
2 Consumer Discretionary 38.65%
3 Communication Services 9.3%
4 Technology 1.81%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UAL icon
1
United Airlines
UAL
$40.7B
$134M 12.36%
2,866,645
+316,965
+12% +$14.7M
RCL icon
2
Royal Caribbean
RCL
$81.6B
$127M 11.7%
1,886,110
– –
EXPE icon
3
Expedia Group
EXPE
$39.9B
$126M 11.63%
1,440,447
– –
HRI icon
4
Herc Holdings
HRI
$5.8B
$115M 10.56%
1,503,864
+558,333
+59% +$47.7M
CAR icon
5
Avis
CAR
$4.87B
$103M 9.45%
1,868,543
– –
BKNG icon
6
Booking.com
BKNG
$159B
$95.4M 8.8%
2,059,500
+184,250
+10% +$9.07M
META icon
7
Meta Platforms (Facebook)
META
$1.5T
$62.8M 5.79%
795,045
– –
ALK icon
8
Alaska Air
ALK
$5.13B
$57.8M 5.33%
1,328,146
– –
TCOM icon
9
Trip.com Group
TCOM
$28.3B
$50.3M 4.64%
1,772,516
– –
DAL icon
10
Delta Air Lines
DAL
$58.8B
$34.8M 3.21%
963,455
+200,000
+26% +$7.64M
AAL icon
11
American Airlines Group
AAL
$9.82B
$26.7M 2.46%
753,148
– –
HA
12
DELISTED
Hawaiian Holdings, Inc.
HA
$24.1M 2.22%
1,790,112
– –
GRPN icon
13
Groupon
GRPN
$875M
$23.5M 2.16%
175,637
-136,863
-44% -$17.8M
CPA icon
14
Copa Holdings
CPA
$6.14B
$23.5M 2.16%
218,654
-13,901
-6% -$1.85M
CNQR
15
DELISTED
CONCUR TECHNOLOGIES INC
CNQR
$17.2M 1.59%
135,640
– –
DWRE
16
DELISTED
DEMANDWARE INC COM STK (DE)
DWRE
$14.8M 1.36%
290,000
+205,975
+245% +$11.7M
TRIP icon
17
TripAdvisor
TRIP
$1.26B
$9.81M 0.9%
+107,306
New +$10.6M
ZG icon
18
Zillow
ZG
$7.91B
$9.44M 0.87%
+244,083
New +$11M
SAVE
19
DELISTED
Spirit Airlines, Inc.
SAVE
$6.91M 0.64%
100,000
– –
AMZN icon
20
Amazon
AMZN
$2.83T
$6.45M 0.59%
400,000
+92,000
+30% +$1.53M
RHT
21
DELISTED
Red Hat Inc
RHT
$5.16M 0.48%
91,952
– –
LKM
22
DELISTED
Link Motion Inc.
LKM
$4.88M 0.45%
700,263
-4,626,771
-87% -$28.3M
BYD icon
23
Boyd Gaming
BYD
$6.11B
$2.03M 0.19%
200,000
– –
LONG
24
DELISTED
ELONG, INC. AMERICAN DEPOSITARY SHARES
LONG
$1.67M 0.15%
80,915
– –
CHDN icon
25
Churchill Downs
CHDN
$6.33B
$1.3M 0.12%
79,806
– –
1
2

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LAMI
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SWP
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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.