Palestra Capital Management: Platform Profile

Overview

Palestra Capital Management is a New York hedge-fund manager founded in 2011 by Jeremy Schiffman and Andrew Immerman. Its regulatory brochure describes a fundamental, research-intensive process centered primarily on long and short equity investments, with selective credit and derivative opportunities.

The firm manages pooled private funds rather than offering a public retail investment product.

May fit better for

• qualified investors seeking fundamental long/short equity exposure;
• investors comfortable with leverage and short selling;
• allocators seeking a research-intensive private-fund manager;
• investors willing to accept concentrated portfolio construction;
• users who distinguish gross regulatory AUM from net investor capital.

May fit less well for

• retail users seeking public signup;
• investors seeking passive index exposure;
• users who treat 13F long holdings as the complete long/short portfolio;
• investors who assume RAUM equals fund NAV;
• investors expecting one current public minimum.

Palestra is SEC registered

• Legal adviser: Palestra Capital Management LLC
• CRD: 160535
• SEC number: 801-74131
• SEC registration effective: 2012-03-30
• SEC registered investment adviser: Yes

Current regulatory AUM is $5.442B

Current March 31, 2026 Form-ADV-derived data:

• Regulatory AUM: $5.442B
• Regulatory AUM exact: $5,441,912,932
• Regulatory AUM as of: 2026-03-31
• Discretionary AUM: $5.442B
• Client accounts: 6
• Private fund gross assets: $5.442B

Numerical equality in one filing does not make GAV and RAUM interchangeable concepts.

Q2 2026 13F value is $2.949B

Regulatory filings show:

• Q2 2026 13F value: $2.949B
• Q2 2026 13F exact value: $2,949,370,000
• Q2 2026 13F as of: 2026-06-30
• Q2 2026 13F holding count: 21

The 13F does not show ordinary short positions.

Strategy is research-intensive long/short

Current regulatory brochure language supports:

• Fundamental research: Yes
• Research intensive: Yes
• Long short equities: Yes
• Selective credit: Yes
• Selective derivatives: Yes
• Leverage capability: Yes
• Short selling capability: Yes

The brochure specifically notes that leverage and short selling can cause regulatory AUM to exceed private-fund net capital.

Current private-fund structure

Current adviser data reports seven private funds.

• Private fund count: 7
• Pooled investment vehicle client share: 100%
• SMA: No

Brochure materials describe the Hedge Fund and Long Fund and permit future SPVs, co-investment funds or separately managed accounts.

Founders

• Founded: 2011
• Co founder portfolio manager 1: Jeremy Schiffman
• Co founder portfolio manager 2: Andrew Immerman

Universal terms remain undisclosed

• Public self service retail signup: No

Assessment

Palestra's $5.442B RAUM is almost twice its $2.949B Q2 13F. That is not an anomaly for a leveraged long/short manager because 13F captures reportable long securities, while RAUM and the portfolio can reflect a broader gross exposure framework.