Growth to continue post-pandemic? Returns from the best ideas are usually diluted by a long tail of lower quality ideas. Altimeter Capital Management, L.P.s portfolio is diversified across 4 sectors. When Snowflake went public last year, Altimeter Capital saw the kind of return that is the stuff of venture capital dreams. [8][9] It was terminated early in December 2022 due to its inability to secure a suitable merger deal. Answer:Overwhelmed, but not why you might think. OriginalWhaleScore Altimeter Capital: From $3M to $1B in 5 years, Investing with Altimeter Capitals Brad Gerstner, Brad Gerstner Public & Private Investing, Eutelsat, OneWeb Agree $3.4 Billion Deal to Rival SpaceX, See you in your inbox every Monday and Thursday. In April 2021 it was announced that AGC would merge with Singapore ridesharing company, Grab to help it list on Nasdaq under the ticker, GRAB. Besides for Peltz, Trians founding partners include Ed Garden and Peter May. In addition, the fund holds 1,763,135 shares of Microsoft worth $453 million, whose value fell 2.8% in the past six months. Terry is a legendary writer forThe Plain Dealer(Cleveland) who made reading about theCleveland Brownsfun, even though there was literally nothing fun to write about. ISRO (Indian Space Research Organisation) has provided the small satellite bus platform to which French national space agency CNES payload composed of ARGOS-3 and Altika instruments (altimeter, radiometer, DORIS, LRA) are integrated. Fintel . I am not kidding. Even excluding its large metaverse investment, Meta has gone from $15B in annual capex in 2018, 2019, and 2020 to $30B in annual capex in 2022. Altimeter Capital has made 7 diversity investments. A wide divergence of performance has formed in the hedge fund industry amid the stock rout on Wall Street this year. "Altimeter Capital CEO on Travel, Enterprise and the Sharing Economy", "Online-Travel King Brad Gerstner Wants Venture Capital Empire", "After Snowflake windfall, Altimeter Capital captures dealmaking spotlight | PitchBook", "Bradley Gerstner Investor Profile: Portfolio & Exits | PitchBook", "Singapore's Grab Delays Merger Completion to Fourth Quarter", "Grab IPO: what to know and how to buy Grab shares", "Bay Area's first IPO of 2021 raises $400M for an Altimeter Capital SPAC", "SPACS Altimeter Growth II, One Equity Open Water I to liquidate early | Seeking Alpha", "Brad Gerstner's Altimeter Capital has an $8B profit on Snowflake. This leaves the value of the investment at $2.36 billion and 17,001,796 shares. Below is the current Brad Gerstner portfolio of Altimeter Capital after his Q3 update. . [11] United Continental Holdings eventually gave in and changed its board of directors. You can expect to hear more about Brad and some of his investments soon in The Crossover! Its first private fund was closed in 2013. Investor Type Hedge Fund, Venture Capital. Altimeter Capital Management's largest holding is Snowflake, Inc. with shares held of 15,369,459. Thank you and soon you will hear from one of our Attorneys. For media inquiries, please contact press@altimeter.com. From a report: The Meta investor recommends a plan to get the company's "mojo back" including reducing headcount expenses by 20% and limiting the company's pricey investments in . Altimeter LLC. Question:Okay then. They did not look at something as public or private investment. According to the last 13-F report filed with the SEC, Mara Davis serves as the Chief Compliance Officer at Altimeter Capital Management, L.P.. Altimeter Growth Corp, a blank check company formed by Altimeter Capital Management LP, has raised $450 million for its IPO after pricing . Please Question:No way his VC fund has had any successes that could match the likes of the Priceline investment. Map , Boston "As a hedge fund we expect to lose less than the indexes on the way down - this year we have lost more Markets moved fast- we moved too slow.". Meta investor Altimeter Capital called on the company to cut its staff and to limit its investments on expanding into the virtual reality metaverse world in an open letter published Monday. There are currently 14 companies in Mrs. Daviss portfolio. Still, many players managed to dodge the brutal sell-off and overcome the extreme volatility on Wall Street. Answer:Gerstner spent a lot of time discussing the concept ofEssentialismwhich represents in many ways his philosophy on life & business. Altimeter's four biggest holdings Snowflake, Meta, Microsoft and Uber are all down from 20% to as much as 60% year to date. Altimeter Capital has made 91 investments. Since January 2012, the date of their first 13F filing, the fund has earned its investors a massive 305% return on the long side through October month-end. Stocks with a size of more than $10 billion in market cap make up Normally $755/year for everything included. Compare against similar firms. So, which sector is Kim most bullish about? Question:How did the investment playout? Professionally, this means focusing on fewer companies, industries, and management teams and rather making concentrated investments on just a handful of companies. San Francisco, CA 94105 We give you the access and tools to invest like a Wall Street money manager at a Main Street price. public funds and serves as an expert long-term partner to companies as they enter the public markets. Subscribe to The Crossover today! Thanks for the read! The fund was located in North America if to be more exact in United States. Brad Gerstner, Chair and CEO of Altimeter Capital Management LLC, penned an open letter to Meta Platforms (NASDAQ:META).Altimeter owns more than 2 million shares of Meta Platforms and has been a long-time investor. Sharpe ratio is a measure of risk-adjusted return that indicates the additional return obtained by the hedge fund investor for every level of risk taken. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The inks barely dry on Regal Funds Managements agreement to acquire VGI Partners, and already the countrys busiest hedge fund manager appears to be thinking about other opportunities. Tan Hooi Ling is a co-founder of Grab and the current COO. Create Email Alert, ***Log In or To put that in perspective, excluding your large . ? Ideal for intelligent investors with $50,000+ portfolios. Altimeter SPAC goes public. After all, activist hedge funds get most of their earnings from investing in companies and pushing them to provide more shareholder value. or to simply have an email sent to you whenever we receive a new Altimeter Capital Management General Information. Return to search. Then theres Snowflake (SNOW). Altimeter has seen successes like Priceline (BKNG), Expedia (EXPD), Uber (UBER), Twilio (TWLO) and Hubspot (HUBS). Citadel's multistrategy flagship fund Wellington rallied 7.5% last month, bringing its year-to-date performance to 12.7%. Altimeter is so impressive in so many ways and it will be hard to squeeze all of my thoughts into 1k words. Gerstner's hedge fund held 2.6 million shares ofTableau Software Inc (DATA) at the end of December. Judging by the hedge funds portfolio, it seems to be the technology sector, with an approximately 66% investment in this sector, followed by the financial sector. You should only invest risk capital not required for other purposes, such as retirement savings, student loans, mortgages or education. Luck befalls the curious mind. Altimeter is known for its long-term focus, concentrated investment approach, and exceptional returns across both its public hedge fund and private growth equity funds. At 12/31/2022: $3,652,571. It was a blast. He founded a technology-focused investment firm called Altimeter Capital in 2008. A Division of NBCUniversal. Akre Capital Management was founded in 1989 and is an asset management firm. If you look through our private investments you will also see much more significant concentration than you would in typical venture funds. But while Gerstner has built a VC juggernaut, Altimeter Capitals public investments have been none-to-shabby. Meanwhile, some value, macro and international oriented players are reaping sizable gains despite the market bloodbath. News of the merger has not been met with much enthusiasm in the public markets, as Eutelsat stock has actually gone down 18% since announcing deal talks. At Altimer Capital, we support businesses that leverage the power of data to drive growth.. Digital technologies continue to redefine industries and transform business models.Data-enabled companies have historically grown 75% faster on average than their peers and have been twice as likely to achieve their customer-experience goals. and a top 10 holdings concentration of 99.95%. Map . Browns portfolio has given average returns of 35.5% on an annualized basis over a period of 3 years. Altimeter Capital Management, LP ("Altimeter") is an SEC-registered investment adviser. regarding PitchBook Data's products. 2023 PitchBook. At 09/30/2022: $4,676,285. When completed, an email will be sent to the email address you specify Reasons they site: 1. [5], A month after the launch of Altimeter Capital, an office was opened in Menlo Park, California. 3-Year Annualized Return 3-Year Cumulative Return Rank Compared to other Funds; Top 20 Holdings Weighted Performance vs S&P500. You must have a subscription to view WhaleScore histories. "On . 2550 Sand Hill Road, are based in the United States. Essentialism is a concept byGreg Mckeownthat emphasizes the idea of not stretching yourself too thin, and rather focusing on doing less and enriching what you choose to spend your time on. Long-time Wayfair insider bought $13.6M of W on the open market. Investment Advisor Altimeter Capital Management is a hedge fund with 17 clients and discretionary assets under management (AUM) of $17,950,309,162 (Form ADV from 2022-05-27). Ault bought 295,000 shares 12% of NTNs float on Jan. 25-28. Boston, Massachusetts, 02110, In the most recent 13F filing, Altimeter Capital Management, L.P. revealed that it had increased its stake in Altimeter Capital Blogs, Comments and Archive News on Economictimes.com . Type a symbol or company name. Altimeter Capital Management is a hedge fund with 17 clients and discretionary assets under management (AUM) of $17,950,309,162 (Form ADV from 2022-05-27). Fast forward seven years, and Gerstner has pretty much achieved his goal. Join the more than 1.5 million industry professionals who get our daily newsletter! The overall hedge fund community dipped 0.9% in April, compared to the S&P 500's near 9% loss for its worst month since March 2020, according to HFR. altimeter capital returns; altimeter capital returns. Even excluding its large metaverse investment, Meta has gone from $15B in annual capex in 2018, 2019, and 2020 . In managing the Hedge Fund, Altimeters objective is to maximize compounded annual long-term net returns for the Hedge Fund investors. Chuck Akre is the managing member, CEO, and CIO of Akre Capital Management and ranked #4 on this list. Description. Mara Davis also disclosed a decreased stake in Snowflake by approximately 0.1%. So, without further ado, using TipRanks data, here are some of the top-ranked hedge fund managers from some of the Best Hedge Funds this year. TL;DR: Eutelsat Communications SA, a French satellite operator, and OneWeb, a UK satellite operator are set to combine in an all-share deal valuing OneWeb at $3.4 billion, a step toward creating a European champion to rival the likes of Elon Musks SpaceX. About Altimeter Capital Altimeter is a global investment firm managing both public and private funds focused on the airline, travel, technology, internet, software, and consumer sectors. Investors react to every move they make. Bruce Berkowitz's: Fairholme Capital Management. Altimeter Growth Corp. 2, the second blank check company formed by Altimeter Capital targeting the tech sector, raised $400 million by offering 40 million shares at $10. All rights reserved. Our mission is to help visionary entrepreneurs build iconic companies, disrupt markets and . The portfolio managed by Akre has gained 451.5% since June 2013, beating the S&P 500 index returns of 290.9% over the same period. However, it is a big problem for baseball when the game being delayed is actually a good thing for the fan experience! Brad Gerstners Altimeter Capital has an $8B profit on Snowflake. Altimeter is a technology-focused investment firm based out of Menlo Park, California, and Boston . Burrys Scion sold all Gamestop shares in Q4 before GME went stratospheric, 13F filing shows. [10], For private markets, Altimeter Capital manages private growth equity funds that invest in both early and later stage technology companies. Barry Norris, chief executive of Argonaut Capital, has been unabashedly vocal about his pessimism about a potential Covid-19 vaccine. It sold the previously owned 1,155,613 shares for $138 million. Our mission is to help visionary entrepreneurs build iconic companies, disrupt markets and improve lives through all stages of growth. Back in 2013, Bloomberg ran a profile of Brad Gerstner's Altimeter Capital that described the up-and-coming hedge fund manager as an adventurer an amateur pilot and heli-skier who hangs out with big-time CEOs at Burning Man. Counting life in days and acts of kindness. On the other hand, there are companies that Altimeter Capital Management, L.P. is getting rid of from its portfolio. 64% of the total holdings value. Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates. Brad Gerstner raised (just) a$3M hedge fundin2008during the depths of the Great Financial Crisis from family & friends. Alt Turnover is calculated by taking either the total MV of new purchases or AGC is a SPAC which is a blank-check company. They are actively managed pools of investment funds that use various investment strategies to beat the average investment returns. Performance numbers calculated through 2023-02-14. I agree to receive PitchBook Data's electronic newsletters, updates, promotions and related messages About us. Hedge fund XN was one of 2020s largest new funds. the MV of securities sold, whichever is less, 3-Year Annualized Return 3-Year Cumulative Return Rank Compared to other Funds; Top 20 Holdings Weighted Performance vs S&P500. Altimeter was founded in 2008 and is headquartered out of Boston, Massachusetts. [13][14] In the letter, Gerstner criticized the company stating it had too many employees and was moving too slowly to retain investor confidence. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The S&P 500 is edging closer to bear market territory, down 18% from its record high, as the Federal Reserve's aggressive tightening spurred recession worries. Later in 2013, Brad looked to continue to capitalize off his success and launched . Brad Gerstner's Altimeter Capital Management has between $300 million and $400 million in assets under management, and invests almost exclusively in the services sector. The managers portfolio has a Sharpe ratio of 7.98. After Snowflake windfall, Altimeter Capital captures dealmaking spotlight. The information in this website is for general reference purposes and is subject to change without notice or update. The average market cap of the portfolio companies is close to $270 billion. BOSTON, MA In contrast, the S&P 500 stock index has gained 290.9%. Peltzs portfolio has gained 444.1% since June 2013 versus the S&P 500 index gaining 290.9% over the same period. With SNOW currently trading at $242, that stake is now worth $8.8 billion. Everyone always talks about the new FinTech companies on the scene, but. Phone Number (617) 310-6180. Altimeter's 15.1% stake in Snowflake Inc (NYSE: SNOW) data analytics company was valued at close to $4.4 billion upon its U.S . Create your Watchlist to save your favorite quotes on Nasdaq.com. Andy Brown is the CEO and portfolio manager of Cedar Rock Capital, an independent investment firm founded in 2002 and ranked #5 on this list. Altimeter Capital Management is an investment firm that operates within the technology sector. Plan. They manage For an individual retail investor, a closer look at hedge funds data reveals which companies or sectors they are upbeat about an interesting insight. Buying high. Written by Contact Email info@altimeter.com. Its biggest holdings as of the end of 2021 included JD.com, Microsoft and Sea Ltd, which are all down double digits this year. Altimeter Capital Management, LP investor performance is calculated on a quarterly basis. Altimeter Capital Management, LP investor performance is calculated on a quarterly basis. Usually, a Sharpe ratio of more than 1 is considered good, while a ratio that is below 1 should be judged based on the investment strategy used. Bridgewater Associates, one of the worlds biggest hedge funds, hired Yuriy Podoshev to boost its engineering team. While the firms mostly won't be able to sell their shares until lockup periods expire . Let me know what you thought by replying back to this email. We did not call it Crossover at the time, but it reminded me of the throwback partnerships that Buffett & Munger had. [3], In 2013, Altimeter Capital closed its first venture capital fund at $75 million. Overreacting during times of uncertainty. The total portfolio value may be much higher due to cash Back in 2013, Bloomberg ran a profile of Brad Gerstners Altimeter Capital that described the up-and-coming hedge fund manager as an adventurer an amateur pilot and heli-skier who hangs out with big-time CEOs at Burning Man. This leaves the value of the investment at $2.36 billion and 17,001,796 shares. To calculate this, SEC form, multiple filers or classes of filers, and much more.***. Louis Bacon's: Moore Capital Management. As of 8th August 2022, Altimeter Capital Management, L.P.s top holding is 17,001,796 shares of Snowflake currently worth over $2.36 billion and making up 54.7% of the portfolio value. Brad Gerstner is a hedge fund manager for Altimeter Capital Management and ranked #3 on this list. Suite 4610 Comcast (CMCSA) makes up 13.8% of Peltzs portfolio, followed by Sysco (SYY) and Invesco (IVZ) at 13.1% and 10.9%, respectively. The article said Gerstner wanted to build a Venture Capital Empire. Altimeter Capital Management LP now owns 961,206 shares of the company's stock worth $52,338,000 after . Brad invested in Priceline @ about$45 a shareand 5 years later, the stock was over$1000, representing a24x returnon the invested capital in just a few years. Brad is the Founder and CEO of Altimeter Capital - an internet, software, and travel focused investment firm founded in 2008 and located in Silicon Valley and Boston. In a $400M fund we might have 10 investments.. Altimeter Capital Management is based out of Boston. Past performance is not an indication of future results. Investment Stage Early Stage Venture, Late Stage Venture, Post-Ipo, Private Equity, Venture. The stock market is going through a period of uncertainty and volatility, but some sectors could benefit from that. About Altimeter Capital Altimeter is a global investment firm managing both public and private funds focused on the airline, travel, technology, internet, software, and consumer sectors. 10.8% Thats nearly 2.2x the annual return of the S&P 500 over that period. Revenue. Map , San Francisco Altimeter Capital Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. This investment blog (the Blog) is created and authored by Mark W. Gaffney (the Content Creator). In addition to quarterly performance, we show annualized performance and the The Nasdaq Composite slid more than 13% in April, dropping almost 30% from its all-time high. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. Shrilekha Pethe for In the midst of the pandemic and the following market upheaval, let us look at how hedge funds have performed. Data is a real-time snapshot *Data is delayed at least 15 minutes. Get our editors daily picks straight in your inbox! All Rights Reserved. On the flip side, technology-heavy hedge funds were among the biggest losers last month with a near 5% loss overall, HFR data said. Copyright 2023 Altimeter Capital. Watch for disclosures from these smart money hedge funds. All rights reserved. You are limited to the prior 8 quarters of 13F filings. ALTIMETER GROWTH CO-INVEST FUND III, L.P. ALTIMETER SPECIAL SITUATIONS PORTFOLIO (2020-I), CHIEF COMPLIANCE OFFICER , GENERAL COUNSEL. privacy policy or contact This means they effectively own approximately 0.1% of the company. Altimeter Capital Chairman and CEO Brad Gerstner said his hedge fund sold stakes in United Airlines and Expedia, adding that easy gains from the rebound in travel stocks have been realized. Instead of doing a classic profile on the fund, I thought I would do something we will call Alans Angle, inspired by the greatTerry Plutos, Terrys Talkin a style where he writes as if he is interviewing himself! Our team will review your remarks prior to publishing. The Sohn Investment Conference, one of the biggest hedge fund gatherings of the year, took place yesterday in New York, with Bill Ackman, David Einhorn, Keith Meister, and Larry Robbins among the hedge Brad Gerstner's Altimeter Capital disclosed a 5.1% stake inTableau Software Inc (NYSE:DATA). Altimeter said annual free cash flow can be doubled to $40 billion if it cut headcount by at least 20%, trimmed capital expenditure by at least $5 billion to $25 billion a year and capped annual . Meta Platforms Inc makes up 2023 CNBC LLC. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. TipRanks->. Altimeter is a leading technology-focused investment firm built by founders for founders. Link to 13F filings: SEC filings. These licenses may or may not be disclosed by the Content Creator in the Blog. Sign-up The firm's highlight investments in the past two years include Airbyte, Discord . Altimeter manages a long / short public equity fund and private growth equity funds. Altimeters portfolio, managed by Gerstner, has a Sharpe ratio of 7.92. Investors believe they can predict the future. Altimeter Capital Management, L.P. closed its position in Sea Ltd on 15th August 2022. Altimeter Capital Management LP now owns 18,041,796 shares of the company's stock valued at . Akres portfolio has a Sharpe ratio of 8.06 with 57.9% of the portfolio invested in the financial sector and 25.1% invested in the technology sector. Best large hedge funds to clone?WhaleRock, SCGE and Dragoneer lead the pack. FILE - In this May 24, 2017, file photo, applicants fill in forms to join Grab Vietnam at the company's office in Hanoi, Vietnam. We want to hear from you. Today I am going to be breaking down one of the most interesting crossover funds in the game,Altimeter Capital. Relative to the number of outstanding shares of Snowflake, Altimeter Capital Management, L.P. owns less than approximately 0.1% of the company. Got a confidential news tip? The firm's private equity arm makes all-stage venture capital investments, primarily in the technology sector. [2], In January 2016, Altimeter Capital pressured United Continental Holdings to change its board of directors. Altimeter Capital Management LLC. Investor Performance. He also served as a co-CEO of a travel company called National Leisure Group. Cedar Rock is based out of London, United Kingdom. Answer:Unbelievably well. Headquarters Location. Deals with Altimeter Capital participation, Morningstar Institutional Equity Research. The author of this piece and/or members of Workweek media could be invested in companies discussed. Altimeter Capital Management General Partner, LLC - Insider Trading Tracker. Trian Fund Management was founded in 2005 and is a highly engaged shareowner that combines concentrated public equity ownership with operational expertise, according to the company's website. We make money even in declining markets.". . The firm seeks to invest in companies operating in the technology sector and manages long/short public equity funds and private growth equity funds. "When we turn our companies around, there's often an important improvement in the margins and profitability of the companies. To calculate this, we calculate the cost basis of added positions in each quarter and use that to calculate the total profit and returns for each quarter. older whippets for rehoming Altimeter Capital Management, L.P. is an investment fund managing more than $4.33 billion ran by Mara Davis. . https://www.linkedin.com/company/altimeter-capital One International Place Suite 2400. The music was electric and fans were dancing on the big screen. [13][14] He recommended reducing the headcount expense by 20% and limiting Metaverse investments to $5 billion per year. Suite 150 His portfolio has gained 346% since June 2013 with a Sharpe ratio of 7.46. Suite 2310 Altimeter Capital Management's Top Picks Include Online Travel and Airline Stocks, Have a Look at Two Ongoing Proxy Fights and One Freshly-Completed Activist Campaign, United Continental Holdings Inc. (UAL): Altimeter Capital Management Reaches Agreement with Company, United Continental Holdings, Inc. (UAL): PAR Capital, Altimeter Capital Express Governance Concerns, Put Forth Minority Board Slate, The Latest Activist Moves Made by Jeffrey Smith, Paul Singer, More, How to Best Use Insider Monkey to Increase Your Returns, 6 Things You Didn't Know About Hedge Funds. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Trading in such securities can result in immediate and substantial losses of the capital invested. Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter. For more information, please call (617) 310-6180 or email IR@altimeter.com. Kims portfolio has gained a whopping 569.2% since 2013. . Form 4 The key to profiting from insider filings, Item 4 in 13D filings is the key to profiting from activists. Kultura Capital Management is being structured as a hybrid fund that will focus on late-stage tech startups as well as public companies, the person said. These positions were updated on August 15th based on the funds latest 13F filing. TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions. . 2015-2023 Fintel Ventures LLC. Altimeter Capital Management is a technology focused investment firm based in Menlo Park, CA and Boston, MA. Boston, MA 02110 Altimeter Capital Management LP lifted its position in Toast by 3,508.4% during the 1st quarter. I think launching the fund wasnt actually crazy, but ratherbrilliant. Copy and paste multiple symbols separated by spaces. He is bullish on both, which to many could see as being contradicting. Altimeter Capital Management LP now owns 18,041,796 shares of the company's stock valued at $3,933,007,000 after purchasing an additional 17,541,796 shares during the last quarter. Download 13F Summary Chuck manages $16.2 billion worth of assets and his portfolio has given average returns of 46.4% over a period of three years, on an annualized basis. containing a link to download the .zip file of the CSV file(s) you requested. Their last reported 13F filing for Q4 2022 included $3,652,571,000 in managed 13F securities and a top 10 holdings concentration of 99.95%. Read full disclaimer >. Media. [9], For public markets, Altimeter Capital manages a long / short public equity fund that invests in technology companies.