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 |
Expedia Group
EXPE
|
+$78.4M |
| 2 |
United Airlines
UAL
|
+$45.6M |
| 3 |
DATA
Tableau Software, Inc.
DATA
|
+$32.8M |
| 4 |
Everpure Inc
P
|
+$10M |
| 5 |
Allegiant Air
ALGT
|
+$841K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Royal Caribbean
RCL
|
+$126M |
| 2 |
QUNR
Qunar Cayman Islands Limited
QUNR
|
+$80.3M |
| 3 |
Booking.com
BKNG
|
+$37.4M |
| 4 |
DWRE
DEMANDWARE INC COM STK (DE)
DWRE
|
+$27M |
| 5 |
Workday
WDAY
|
+$22.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 54.56% |
| 2 | Consumer Discretionary | 34.46% |
| 3 | Technology | 7.44% |
| 4 | Communication Services | 3.03% |
| 5 | Miscellaneous | 0.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
United Airlines
UAL
$33.8B
| $689M | 44.96% |
11,509,268
+859,268
| +8% | +$45.6M |
2013 Q2
11 quarters
|
|
|
2
Expedia Group
EXPE
$33.2B
| $408M | 26.63% |
3,783,941
+734,788
| +24% | +$78.4M |
2013 Q4
9 quarters
|
|
3
Alaska Air
ALK
$3.98B
| $74M | 4.83% |
902,489
-225,657
| -20% | -$16.7M |
2013 Q2
11 quarters
|
|
|
DATA
4
DELISTED
Tableau Software, Inc.
DATA
| $66.6M | 4.34% |
1,450,998
+564,590
| +64% | +$32.8M |
2015 Q3
2 quarters
|
|
5
Trip.com Group
TCOM
$24.3B
| $57M | 3.72% |
1,287,009
-485,507
| -27% | -$20.3M |
2013 Q2
11 quarters
|
|
|
6
Booking.com
BKNG
$111B
| $51.2M | 3.34% |
993,750
-780,775
| -44% | -$37.4M |
2013 Q2
11 quarters
|
|
|
7
Everpure Inc
P
$46.6B
| $37.6M | 2.46% |
2,750,000
+750,000
| +38% | +$10M |
2015 Q4
1 quarter
|
|
8
Delta Air Lines
DAL
$53B
| $37.2M | 2.43% |
763,455
| – | – |
2013 Q2
11 quarters
|
|
9
American Airlines Group
AAL
$8.34B
| $34.9M | 2.28% |
850,000
-316,697
| -27% | -$12.7M |
2013 Q4
9 quarters
|
|
10
Zillow
Z
$7.03B
| $26M | 1.7% |
1,095,224
-425,491
| -28% | -$8.89M |
2015 Q3
2 quarters
|
|
11
Zillow
ZG
$7.27B
| $20.5M | 1.34% |
801,816
| – | – |
2014 Q3
6 quarters
|
|
12
Amazon
AMZN
$2.73T
| $11.9M | 0.77% |
400,000
| – | – |
2013 Q2
11 quarters
|
|
13
HubSpot
HUBS
$12.4B
| $9.8M | 0.64% |
225,000
-72,902
| -24% | -$3.14M |
2014 Q4
5 quarters
|
|
|
LONG
14
DELISTED
ELONG, INC. AMERICAN DEPOSITARY SHARES
LONG
| $7.77M | 0.51% |
443,085
| – | – |
2013 Q2
11 quarters
|
|
|
15
Allegiant Air
ALGT
$1.97B
| $917K | 0.06% |
+5,150
| New | +$841K |
2016 Q1
0 quarters
|
|
16
Box
BOX
$5.82B
| – | – |
-533,500
| Closed | -$7.45M | – |
|
|
17
Royal Caribbean
RCL
$79.5B
| – | – |
-1,241,469
| Closed | -$126M | – |
|
|
18
Workday
WDAY
$48.9B
| – | – |
-280,000
| Closed | -$22.3M | – |
|
|
ZEN
19
DELISTED
ZENDESK INC
ZEN
| – | – |
-500,000
| Closed | -$13.2M | – |
|
|
QUNR
20
DELISTED
Qunar Cayman Islands Limited
QUNR
| – | – |
-1,570,945
| Closed | -$80.3M | – |
|
|
DWRE
21
DELISTED
DEMANDWARE INC COM STK (DE)
DWRE
| – | – |
-500,000
| Closed | -$27M | – |
|
Similar funds
Brad Gerstner's Q1 2016 Portfolio in Review
As of Q1 2016, Brad Gerstner held 21 positions worth $1.53B, down 16% from $1.83B the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Brad Gerstner withdrew a net $208M in Q1 2016, closing 6 positions and reducing 6 holdings. Its most notable exit was Royal Caribbean, an estimated $126M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 55% of assets, up from 43% a quarter earlier, followed by Consumer Discretionary and Technology.
Against the trend, Brad Gerstner opened a new position in Allegiant Air worth $917K.
- Brad Gerstner's largest Q1 2016 buy was Allegiant Air: 5,150 shares worth $917K.
- Brad Gerstner added most to Expedia Group in Q1 2016, an estimated $78.4M increase.
- Brad Gerstner's biggest Q1 2016 reduction was Booking.com, cutting an estimated $37.4M.
- Brad Gerstner fully exited Royal Caribbean in Q1 2016, selling an estimated $126M.
- Brad Gerstner's ten largest holdings make up 97% of its $1.53B portfolio in Q1 2016.
- Brad Gerstner opened 1 new position and closed 6 in Q1 2016.
- Brad Gerstner's portfolio value fell 16% quarter-over-quarter to $1.53B.
Based on Altimeter Capital Management's 13F filing for Q1 2016, filed 16 May 2016.