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 |
Booking.com
BKNG
|
+$122M |
| 2 |
DATA
Tableau Software, Inc.
DATA
|
+$68.6M |
| 3 |
Amazon
AMZN
|
+$39.2M |
| 4 |
Twilio
TWLO
|
+$29.1M |
| 5 |
Block Inc
XYZ
|
+$18.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
United Airlines
UAL
|
+$79.7M |
| 2 |
Nutanix
NTNX
|
+$2.59M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 46.72% |
| 2 | Consumer Discretionary | 39.95% |
| 3 | Technology | 10.71% |
| 4 | Communication Services | 2.23% |
| 5 | Financials | 0.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
United Airlines
UAL
$33B
| $748M | 38.34% |
10,257,765
-1,251,503
| -11% | -$79.7M |
2013 Q2
14 quarters
|
|
2
Expedia Group
EXPE
$33.8B
| $510M | 26.13% |
4,498,111
| – | – |
2013 Q4
12 quarters
|
|
|
3
Booking.com
BKNG
$115B
| $180M | 9.25% |
3,075,000
+2,048,750
| +200% | +$122M |
2013 Q2
14 quarters
|
|
|
DATA
4
DELISTED
Tableau Software, Inc.
DATA
| $109M | 5.61% |
2,594,384
+1,472,933
| +131% | +$68.6M |
2015 Q3
5 quarters
|
|
5
Alaska Air
ALK
$3.91B
| $80.1M | 4.11% |
902,489
| – | – |
2013 Q2
14 quarters
|
|
6
Trip.com Group
TCOM
$25.2B
| $51.5M | 2.64% |
1,287,009
| – | – |
2013 Q2
14 quarters
|
|
7
Everpure Inc
P
$44.5B
| $46.5M | 2.38% |
4,109,821
+42,130
| +1% | +$546K |
2015 Q4
4 quarters
|
|
8
Delta Air Lines
DAL
$52.1B
| $42.5M | 2.18% |
863,455
| – | – |
2013 Q2
14 quarters
|
|
9
American Airlines Group
AAL
$8.12B
| $39.7M | 2.04% |
850,000
| – | – |
2013 Q4
12 quarters
|
|
|
10
Amazon
AMZN
$2.68T
| $37.5M | 1.92% |
+1,000,000
| New | +$39.2M |
2016 Q4
0 quarters
|
|
11
Netflix
NFLX
$264B
| $30M | 1.54% |
2,422,000
+1,172,000
| +94% | +$13.9M |
2016 Q3
1 quarter
|
|
|
12
Twilio
TWLO
$40B
| $22.4M | 1.15% |
+777,800
| New | +$29.1M |
2016 Q4
0 quarters
|
|
|
13
Block Inc
XYZ
$44.6B
| $19.9M | 1.02% |
+1,456,545
| New | +$18.1M |
2016 Q4
0 quarters
|
|
14
Zillow
ZG
$7.52B
| $13.4M | 0.69% |
368,142
| – | – |
2014 Q3
9 quarters
|
|
15
Salesforce
CRM
$202B
| $10.6M | 0.54% |
+155,000
| New | +$11.2M |
2016 Q4
0 quarters
|
|
16
PayPal
PYPL
$46.7B
| $7.89M | 0.4% |
+200,000
| New | +$8.04M |
2016 Q4
0 quarters
|
|
17
Allegiant Air
ALGT
$1.89B
| $1.06M | 0.05% |
6,350
+1,200
| +23% | +$188K |
2016 Q1
3 quarters
|
|
|
18
CALL
Expedia Group
EXPE
$33.8B
| – | – |
-500
| Closed | -$590K | – |
|
|
19
Nutanix
NTNX
$19.6B
| – | – |
-70,000
| Closed | -$2.59M | – |
|
|
20
CALL
United Airlines
UAL
$33B
| – | – |
-4,377
| Closed | -$420K | – |
|
Similar funds
Brad Gerstner's Q4 2016 Portfolio in Review
As of Q4 2016, Brad Gerstner held 20 positions worth $1.95B, up 28% from $1.52B the previous quarter. Its ten largest holdings account for 95% of the portfolio.
Brad Gerstner deployed $229M of net new capital in Q4 2016, opening 5 new positions and adding to 5 existing holdings. Its largest new stake was Amazon: 1,000,000 shares worth $37.5M.
By sector, the portfolio is most concentrated in Industrials at 47% of assets, down from 48% a quarter earlier, followed by Consumer Discretionary and Technology.
On the sell side, the largest reduction was United Airlines, an estimated $79.7M trimmed.
- Brad Gerstner's largest Q4 2016 buy was Amazon: 1,000,000 shares worth $37.5M.
- Brad Gerstner added most to Booking.com in Q4 2016, an estimated $122M increase.
- Brad Gerstner's biggest Q4 2016 reduction was United Airlines, cutting an estimated $79.7M.
- Brad Gerstner fully exited Nutanix in Q4 2016, selling an estimated $2.59M.
- Brad Gerstner's ten largest holdings make up 95% of its $1.95B portfolio in Q4 2016.
- Brad Gerstner opened 5 new positions and closed 3 in Q4 2016.
- Brad Gerstner's portfolio value rose 28% quarter-over-quarter to $1.95B.
Based on Altimeter Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.