Altimeter Capital Management 13F: Q2 2026 Portfolio — $9.83B Across 20 Positions

Altimeter Capital Management · Brad Gerstner · Q2 2026

Altimeter deepened its AI infrastructure concentration while trimming some large-scale platform exposure.

Reported value

$9.83B

Filed 2026-08-14

Positions

Quarter ended 2026-06-30

Top 10 weight

83.3%

New10Added5Trimmed3Exited3View the SEC filing

Form 13F reports long US-listed positions only, up to 45 days after quarter end. It excludes shorts, cash, and non-US holdings, so the live book can differ.

Altimeter Capital Management reported a $9.83B US-listed portfolio in its Q2 2026 Form 13F, filed with the SEC on 2026-08-14 for the quarter ended 2026-06-30. The book holds 20 positions, led by Nvidia at 19.2% of reported value; the top three together account for 43%. Against the Q1 2026 filing, the manager opened 10 new positions, added to 5, trimmed 3, and exited 3.

Top 12 holdings

Portfolio allocation

NvidiaNVDA19.2%
Cerebras SystemsCBRS16.2%
Meta PlatformsMETA7.8%
Taiwan Semiconductor MfgTSM6.9%
CoreweaveCRWV6.2%
Arm HoldingsARM5.9%
AmazonAMZN5.9%
Uber TechnologiesUBER5.4%
SnowflakeSNOW5.0%
MicrosoftMSFT4.8%
Other holdings16.7%

Share of reported 13F value

#	Holding	Action	Weight	Value	Shares vs prior quarter
1	NvidiaNVDA	Added	19.2%	$1.88B	+0.8%
2	Cerebras SystemsCBRS	New	16.2%	$1.60B	New
3	Meta PlatformsMETA	Trimmed	7.8%	$763M	-30.6%
4	Taiwan Semiconductor MfgTSM	Added	6.9%	$683M	+4.7%
5	CoreweaveCRWV	Added	6.2%	$605M	+35.0%
6	Arm HoldingsARM	Trimmed	5.9%	$582M	-4.3%
7	AmazonAMZN	Added	5.9%	$578M	+16.1%
8	Uber TechnologiesUBER	Trimmed	5.4%	$532M	-7.5%
9	SnowflakeSNOW	Unchanged	5.0%	$490M	0.0%
10	MicrosoftMSFT	Added	4.8%	$473M	+7.1%
11	QualcommQCOM	New	3.5%	$348M	New
12	Space Exploration TechnSPCX	New	3.1%	$304M	New
	Other holdings		10.1%	$992M

Values and share counts as reported for 2026-06-30; weights are share of reported 13F value.

Actions compare share counts against the prior quarter's filing, so they do not move with price.

New positions and exits

New positions

Closed out

Axon Enterprise$63.3M
Broadcom$20.8M
Grab Holdings Limited$263K

Read on the quarter

What the moves add up to

The quarter’s activity reinforces a heavy concentration in AI-enabling equities, with the top-10 holdings accounting for 83.3% of the portfolio. Nvidia (NVDA) was added and remains the largest position at 19.16% weight, while new exposure to Cerebras Systems (CBRS), Qualcomm (QCOM), and Space Exploration Techn (SPCX) extends the theme beyond a single platform. Additional adds such as Coreweave (CRWV) and Taiwan Semiconductor Mfg (TSM) also support a build-out across compute, networking, and semiconductors.

Within that broader AI tilt, the most meaningful counterbalance came from trims to major platform names. Meta Platforms (META) was trimmed, with the position weight at 7.76% and the action specifically marked as a trim (change shown as -30.6 on the quarter). Arm Holdings (ARM) and Uber Technologies (UBER) were also trimmed, albeit smaller on the table, while Snowflake (SNOW) was held with no indicated change. Overall, buys dominated (new 10, add 5), and the rotation appears less about broadly de-risking and more about reallocating toward AI infrastructure and related enablers.

Context

How to read this filing

A Form 13F is a quarterly snapshot institutional managers with over $100M in US-listed assets must file within 45 days of quarter end. It shows long equity positions only: no short book, no cash, no non-US listings, no timing inside the quarter. Treat it as a delayed map of where the manager's conviction sat on the reporting date — not a live portfolio, and not a buy list.

Positions may have changed since the reporting date. Weight changes also reflect price moves, not only buying or selling — the action tags on this page are derived from share counts, which do not move with price.