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 |
Yelp
YELP
|
+$30.8M |
| 2 |
trivago
TRVG
|
+$6.92M |
| 3 |
MULE
MuleSoft, Inc.
MULE
|
+$5.62M |
| 4 |
United Airlines
UAL
|
+$2.66M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$1.04M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alaska Air
ALK
|
+$73.8M |
| 2 |
Trip.com Group
TCOM
|
+$69.3M |
| 3 |
Delta Air Lines
DAL
|
+$46.4M |
| 4 |
American Airlines Group
AAL
|
+$42.8M |
| 5 |
TripAdvisor
TRIP
|
+$5.57M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 43.92% |
| 2 | Industrials | 29.98% |
| 3 | Technology | 19.98% |
| 4 | Communication Services | 5.04% |
| 5 | Financials | 0.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Expedia Group
EXPE
$33.1B
| $647M | 30.63% |
4,498,111
| – | – |
2013 Q4
15 quarters
|
|
|
2
United Airlines
UAL
$33.6B
| $630M | 29.8% |
10,347,765
+40,000
| +0.4% | +$2.66M |
2013 Q2
17 quarters
|
|
|
DATA
3
DELISTED
Tableau Software, Inc.
DATA
| $268M | 12.7% |
3,584,663
| – | – |
2015 Q3
8 quarters
|
|
4
Booking.com
BKNG
$111B
| $225M | 10.65% |
3,075,000
| – | – |
2013 Q2
17 quarters
|
|
5
Everpure Inc
P
$46.2B
| $75.2M | 3.56% |
4,700,000
| – | – |
2015 Q4
7 quarters
|
|
6
Amazon
AMZN
$2.75T
| $48.8M | 2.31% |
1,015,600
+15,600
| +2% | +$766K |
2016 Q4
3 quarters
|
|
|
7
Yelp
YELP
$1000M
| $44.6M | 2.11% |
1,029,485
+798,115
| +345% | +$30.8M |
2017 Q1
2 quarters
|
|
8
Block Inc
XYZ
$45.2B
| $37.6M | 1.78% |
1,306,345
-200
| -0% | -$5.24K |
2016 Q4
3 quarters
|
|
9
Netflix
NFLX
$258B
| $35.5M | 1.68% |
1,956,000
| – | – |
2016 Q3
4 quarters
|
|
10
Twilio
TWLO
$39B
| $21.7M | 1.03% |
727,800
| – | – |
2016 Q4
3 quarters
|
|
11
Zillow
ZG
$7.17B
| $14.8M | 0.7% |
368,142
| – | – |
2014 Q3
12 quarters
|
|
12
PayPal
PYPL
$47.3B
| $12.8M | 0.61% |
200,000
| – | – |
2016 Q4
3 quarters
|
|
13
Salesforce
CRM
$199B
| $12.1M | 0.57% |
130,000
| – | – |
2016 Q4
3 quarters
|
|
|
14
Alphabet (Google) Class A
GOOGL
$3.97T
| $7.3M | 0.35% |
150,000
+22,000
| +17% | +$1.04M |
2017 Q1
2 quarters
|
|
|
15
CALL
United Airlines
UAL
$33.6B
| $7.13M | 0.34% |
+45,750
| New | +$3.05M |
2017 Q3
0 quarters
|
|
16
Alibaba
BABA
$251B
| $5.52M | 0.26% |
31,950
+6,200
| +24% | +$1.01M |
2017 Q2
1 quarter
|
|
|
MULE
17
DELISTED
MuleSoft, Inc.
MULE
| $5.08M | 0.24% |
+252,132
| New | +$5.62M |
2017 Q3
0 quarters
|
|
|
18
trivago
TRVG
$272M
| $4.45M | 0.21% |
+82,072
| New | +$6.92M |
2017 Q3
0 quarters
|
|
|
19
Alaska Air
ALK
$3.97B
| $3.81M | 0.18% |
50,000
-902,489
| -95% | -$73.8M |
2013 Q2
17 quarters
|
|
|
20
CALL
Yelp
YELP
$1000M
| $2.76M | 0.13% |
2,000
-8,843
| -82% | -$341K |
2017 Q2
1 quarter
|
|
21
Okta
OKTA
$38.9B
| $2.12M | 0.1% |
75,000
| – | – |
2017 Q2
1 quarter
|
|
22
Carvana
CVNA
$65B
| $1.46M | 0.07% |
498,400
-101,600
| -17% | -$370K |
2017 Q2
1 quarter
|
|
|
23
American Airlines Group
AAL
$8.34B
| – | – |
-850,000
| Closed | -$42.8M | – |
|
24
Avis
CAR
$3.59B
| – | – |
-30,000
| Closed | -$818K | – |
|
|
25
Delta Air Lines
DAL
$52.9B
| – | – |
-863,455
| Closed | -$46.4M | – |
|
Similar funds
Brad Gerstner's Q3 2017 Portfolio in Review
As of Q3 2017, Brad Gerstner held 27 positions worth $2.11B, down 12% from $2.4B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Brad Gerstner withdrew a net $190M in Q3 2017, closing 5 positions and reducing 4 holdings. Its most notable exit was Trip.com Group, an estimated $69.3M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 44% of assets, up from 43% a quarter earlier, followed by Industrials and Technology.
Against the trend, Brad Gerstner opened a new position in trivago worth $4.45M.
- Brad Gerstner's largest Q3 2017 buy was trivago: 82,072 shares worth $4.45M.
- Brad Gerstner added most to Yelp in Q3 2017, an estimated $30.8M increase.
- Brad Gerstner's biggest Q3 2017 reduction was Alaska Air, cutting an estimated $73.8M.
- Brad Gerstner fully exited Trip.com Group in Q3 2017, selling an estimated $69.3M.
- Brad Gerstner's ten largest holdings make up 96% of its $2.11B portfolio in Q3 2017.
- Brad Gerstner opened 3 new positions and closed 5 in Q3 2017.
- Brad Gerstner's portfolio value fell 12% quarter-over-quarter to $2.11B.
Based on Altimeter Capital Management's 13F filing for Q3 2017, filed 14 Nov 2017.