Brad Gerstner’s portfolio: Altimeter Capital 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001541617Latest: Q2 2026
Q4 2014 filing in brief
In its Q4 2014 13F, filed February 13, 2015, Altimeter Capital reported $1.4B across 29 US positions. The largest: UAL (22.4%), EXPE (11.3%), ROYAL CARIBBEAN CRUISES LTD (10.8%), CAR (8.6%), TRIP (6.3%). In the quarter it opened 5 positions, sold out of 4, added to 8 and trimmed 4; positions opened and sold out came to 8.7% of the portfolio's value.
Methodology
Holdings come from the manager’s Form 13F-HR filings on SEC EDGAR, with amendments applied. Values and shares are reported at quarter-end; the filing date is when the report became public. These disclosures show reported long positions and listed options, not the manager’s entire portfolio or its trades since quarter-end.
Quarterly changes compare shares with the immediately preceding quarter on file. New and exited positions appear or disappear; added and trimmed positions change their share count by more than 1%. A share change can also reflect a stock split or other corporate action.
Opened and sold out is the value of new positions plus the prior value of exited positions, divided by the average of the two quarters’ reported portfolio values. It excludes changes to positions still held. Reported value growth includes price changes and is not a measure of investment performance. Largest-five and largest-ten weights exclude options.
Holdings
Filed Feb 13, 2015
- 5 New
- 8 Added
- 4 Trimmed
- 4 Exited
29 positions at December 31, 2014. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | UAL | UNITED CONTINENTAL HOLDINGS | $322M | 4.8M | 22.44% | +67.9% | Added |
| 2 | EXPE | EXPEDIA INC | $161M | 1.9M | 11.25% | +31.2% | Added |
| 3 | — | ROYAL CARIBBEAN CRUISES LTD | $155M | 1.9M | 10.84% | 0.0% | Held |
| 4 | CAR | AVIS BUDGET GROUP INC | $124M | 1.9M | 8.64% | 0.0% | Held |
| 5 | TRIP | TRIPADVISOR INC | $90M | 1.2M | 6.25% | +1018.3% | Added |
| 6 | — | THE PRICELINE GROUP INC | $86M | 75.4K | 5.99% | −8.5% | Trimmed |
| 7 | ALK | ALASKA AIR GROUP INC | $79M | 1.3M | 5.53% | 0.0% | Held |
| 8 | META | FACEBOOK INC | $62M | 795.0K | 4.32% | 0.0% | Held |
| 9 | AAL | AMERICAN AIRLINES GROUP INC | $54M | 1.0M | 3.75% | +33.3% | Added |
| 10 | HAN | HAWAIIAN HOLDINGS INC | $49M | 1.9M | 3.42% | +5.2% | Added |
| 11 | DAL | DELTA AIR LINES INC | $47M | 963.5K | 3.30% | 0.0% | Held |
| 12 | CTRPUSD | CTRIP COM INTERNATIONAL LTD | $40M | 886.3K | 2.81% | 0.0% | Held |
| 13 | — | HERTZ GLOBAL HOLDINGS INC | $40M | 1.6M | 2.81% | −64.2% | Trimmed |
| 14 | — | QUNAR CAYMAN ISLANDS LTD | $29M | 1.0M | 2.03% | — | New |
| 15 | — | ZILLOW INC | $22M | 212.2K | 1.57% | +160.8% | Added |
| 16 | DWREEUR | DEMANDWARE INC | $21M | 367.6K | 1.47% | +26.7% | Added |
| 17 | HUBS | HUBSPOT INC | $10M | 347.9K | 0.72% | — | New |
| 18 | SAVEEUR | SPIRIT AIRLINES INC | $8M | 100.0K | 0.53% | 0.0% | Held |
| 19 | RHT1EUR | RED HAT INC | $6M | 91.9K | 0.44% | −0.1% | Held |
| 20 | AMZN | AMAZON COM INC | $6M | 20.0K | 0.43% | 0.0% | Held |
| 21 | — | ELONG INC | $5M | 299.9K | 0.38% | +270.7% | Added |
| 22 | WDAY | WORKDAY INC | $4M | 45.0K | 0.26% | — | New |
| 23 | — | NQ MOBILE INC | $3M | 660.2K | 0.18% | −5.7% | Trimmed |
| 24 | BYD | BOYD GAMING CORP | $3M | 200.0K | 0.18% | 0.0% | Held |
| 25 | TRIP | TRIPADVISOR INCcall option | $2M | 30 | 0.11% | — | New |
| 26 | GRPN | GROUPON INCcall option | $2M | 120 | 0.11% | −99.2% | Trimmed |
| 27 | FIVN | FIVE9 INC | $1M | 289.4K | 0.09% | — | New |
| 28 | CHR | CHURCHILL DOWNS INC | $1M | 13.3K | 0.09% | 0.0% | Held |
| 29 | — | ORBITZ WORLDWIDE INC | $914K | 111.0K | 0.06% | 0.0% | Held |
4 exited positions
Positions held in the preceding quarter and absent from this filing. Values and shares are from the preceding quarter.
| Ticker | Issuer | Previous value | Previous shares |
|---|---|---|---|
| GRPN | GROUPON INC | $23M | 3.5M |
| — | COPA HOLDINGS SA | $23M | 218.7K |
| — | CONCUR TECHNOLOGIES INC | $17M | 135.6K |
| — | NQ MOBILE INCcall option | $3K | 55 |
Every quarter on file (53)
From the manager’s Form 13F-HR filings on SEC EDGAR, amendments applied. Long US positions only; not a recommendation.