Altimeter Capital Management, LP Q3 2022 vs. Q4 2022: A Deep Dive into the Fund's Latest Holdings

Altimeter Capital Management, LP, a global investment firm known for its long-term investment strategy, has recently released its 13F holdings report for Q3 and Q4 2022. The report shows the firm's holdings across various sectors, including technology, healthcare, and consumer goods. In this article, we will examine some of the key changes in holdings for the fund and explore the potential reasons behind these changes.

Firstly, let's take a look at some of the major companies whose holdings were reduced in Q4 2022.

Snowflake Inc.

According to the report, the fund reduced its holdings in Snowflake Inc. by 23.7%, with a decrease in shares from 17,001,796 to 15,369,459. The value of the shares also dropped from $2,889,625 to $2,206,132. One possible reason for this reduction could be the increased competition in the cloud-computing space, with major players like Amazon and Microsoft entering the market.

Uber Technologies Inc.

The report shows that the fund reduced its holdings in Uber Technologies Inc. by 16.6%, with a decrease in shares from 15,577,600 to 13,927,600. The value of the shares also dropped from $412,806 to $344,430. The ride-hailing company has been affected by the ongoing pandemic, with reduced demand for transportation services. In addition, increased competition and regulatory challenges in some markets could have contributed to the reduction in holdings.

Confluent Inc.

The report reveals that Altimeter Capital Management reduced its holdings in Confluent Inc. by 11.4%, with a decrease in shares from 13,716,310 to 12,995,374. The shares' value also dropped from $326,037 to $289,017. The potential reason behind this decrease could be due to the growing competition in the data management space from larger players like Amazon and Google.

Meta Platforms Inc.

The fund's holdings in Meta Platforms Inc. (formerly known as Facebook Inc.) also saw a reduction of 24.6%, with a decrease in shares from 2,346,976 to 1,994,476. The value of the shares also dropped from $318,438 to $240,015. The recent controversy surrounding Meta Platforms Inc.'s impact on mental health may have contributed to these changes in holdings.

Next, let's take a look at some of the companies whose holdings increased in Q4 2022.

Microsoft Corp.

Altimeter Capital Management kept its Microsoft Corp. holdings unchanged at 1,533,135 shares but saw a 3% increase in the value of the shares from $357,067 to $367,676. The surge in demand for cloud services during and after the pandemic could have contributed to the increase in the value of Microsoft Corp. shares.

GitLab Inc.

The report shows that the fund didn't change its holdings in GitLab Inc., but the value of the shares increased by 11.3%, from $31,306 to $27,773. The company's platform for software developers has been experiencing strong demand recently, contributing to the increase in the shares' value.

Opendoor Technologies Inc.

Altimeter Capital Management increased its holdings in Opendoor Technologies Inc. in Q3 2022 by 30.76%, with an increase in shares from 13,076,000 to 17,100,000 and a corresponding increase in the value of the shares from $40,666 to $12,760. However, the fund then reduced its holdings in Q4 2022, with another 11.27% decrease in shares back to 11,000,000. The value of the shares also decreased from $34,210 to $12,760. These changes could be due to the uncertainty surrounding the online real estate market, the company's main focus.

Grab Holdings Limited

The report shows that Altimeter Capital Management increased its holdings in Grab Holdings Limited in Q4 2022, with the shares' value increasing by 7.5%, from $1,751 to $1,882. The ride-hailing and food delivery company has seen rapid growth in Southeast Asia, which could have contributed to the increase in the shares' value.

In conclusion, Altimeter Capital Management's latest 13F holdings report shows some significant changes in holdings as the investment firm adjusts its portfolio. The changes reflect the challenges and opportunities in various sectors, from the cloud-computing to online real estate. This report is just a snapshot in time and doesn't account for the potential future changes in holdings that may occur. It remains to be seen what the next 13F holdings report will reveal.