Investors / Altimeter Capital
Brad Gerstner / Altimeter
$5.70B total AUM · $4.74B AI value · 83.2% AI concentration · NVDA-anchored pure-play AI-infra-ROI thesis
AI Holdings
8 positions · Q1 2026| # | Ticker | Company | Layer | Value | Shares | % of AUM | Entry-Q range |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA Corp | Chip | $1.6B | 9.3M shares | 28.6% | — |
| 2 | META | Meta Platforms Inc | AppModel | $1.1B | 2M shares | 19.6% | — |
| 3 | TSM | Taiwan Semiconductor (ADR) | Chip | $461.5M | 1.4M shares | 8.1% | — |
| 4 | MSFT | Microsoft Corp | InfraAppModel | $438.1M | 1.2M shares | 7.7% | — |
| 5 | AMZN | Amazon.com Inc | InfraApp | $435.2M | 2.1M shares | 7.6% | — |
| 6 | CRWV | CoreWeave Inc | Infra | $348.5M | 4.5M shares | 6.1% | — |
| 7 | SNOW | Snowflake Inc | AppInfra | $290.5M | 1.9M shares | 5.1% | — |
| 8 | AVGO | Broadcom Inc | ChipEnabler | $20.8M | 67.1K shares | 0.4% | — |
This page covers Altimeter Capital Management LP's 13F-HR filings — Brad Gerstner's US-equity book, currently $5.70B AUM across 13 holdings. The AI universe filter surfaces $4.74B (83.2% AUM) across 8 positions spanning chip (NVDA/AVGO/TSM), models (META/MSFT), infrastructure (AMZN/CRWV), and data (SNOW).
NVDA is the anchor — $1.63B / 9.34M shares = 34.3% of the AI book. Gerstner's framing: NVIDIA is the toll booth of the AI infrastructure build-out, and the ROI clock on that infrastructure spend is what drives Altimeter's conviction in cloud and application names that monetize the compute.
CRWV (CoreWeave) is a notable position — Altimeter was an early backer in CoreWeave's private rounds before its 2025 IPO. The continued 13F position reflects ongoing conviction in hyperscale GPU-cloud as AI demand compounds.
Holdings Timeline
Q2 2023
Q3 2023
Q4 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
NVDA
HOLD
ADD+32K
ADD+27K
TRIM−7K
ADD+7M
ADD+56K
ADD+49K
TRIM−695K
ADD+1M
TRIM−607K
ADD+455K
ADD+1M
META
HOLD
ADD+177K
HOLD
TRIM−47K
TRIM−65K
TRIM−29K
TRIM−422K
TRIM−7K
ADD+42K
TRIM−11K
TRIM−21K
ADD+108K
TSM
—
—
—
—
—
NEW+519K
TRIM−15K
DROP
ADD+867K
ADD+201K
ADD+151K
ADD+146K
MSFT
HOLD
ADD+120K
HOLD
TRIM−3K
TRIM−24K
TRIM−40K
TRIM−592K
TRIM−18K
ADD+83K
ADD+104K
ADD+115K
TRIM−94K
AMZN
NEW+407K
ADD+848K
HOLD
ADD+253K
TRIM−73K
TRIM−532K
TRIM−31K
ADD+174K
ADD+420K
ADD+703K
ADD+48K
TRIM−126K
CRWV
—
—
—
—
—
—
—
NEW+3M
TRIM−2M
DROP
ADD+3M
ADD+1M
SNOW
HOLD
ADD+31K
TRIM−3M
TRIM−2M
TRIM−730K
TRIM−903K
TRIM−4M
TRIM−2M
TRIM−122K
TRIM−397K
TRIM−401K
TRIM−101K
AVGO
—
—
—
NEW+40K
DROP
ADD+397K
DROP
—
—
ADD+745K
TRIM−713K
ADD+35K
BE
—
—
—
—
—
—
—
—
—
—
NEW+261K
DROP
GOOGL
TRIM−1M
DROP
—
ADD+286K
ADD+388K
TRIM−13K
ADD+206K
DROP
—
ADD+313K
ADD+206K
DROP
SNPS
—
—
—
—
—
—
—
—
—
NEW+258K
DROP
—
BABA
—
—
—
—
—
—
—
NEW+540K
DROP
ADD+969K
DROP
—
TSLA
—
—
ADD+157K
ADD+433K
DROP
ADD+662K
TRIM−307K
DROP
—
—
—
—
CRM
—
—
—
—
NEW+364K
ADD+94K
TRIM−186K
DROP
—
—
—
—
MU
—
—
—
—
—
—
NEW+615K
DROP
—
—
—
—
DELL
—
—
—
NEW+489K
ADD+5K
DROP
—
—
—
—
—
—
AAPL
—
—
—
—
NEW+271K
DROP
—
—
—
—
—
—
COHR
—
—
—
NEW+428K
DROP
—
—
—
—
—
—
—
GTLB
DROP
—
—
—
—
—
—
—
—
—
—
—
NEW
ADD
HOLD
TRIM (light → heavy)
Not held
Hover any cell for share + value delta| Period | Action | Ticker | Δ Shares | Δ Value |
|---|---|---|---|---|
| Q1 2026 | TRIM | MSFT | -93,720 | $-179.6M |
| Q1 2026 | DROP | GOOGL | -519,290 | $-162.5M |
| Q1 2026 | TRIM | SNOW | -101,354 | $-154.3M |
| Q1 2026 | ADD | CRWV | +1,285,845 | +$118.4M |
| Q1 2026 | ADD | NVDA | +1,236,266 | +$117.6M |
| Q1 2026 | ADD | META | +108,005 | $-100.5M |
| Q1 2026 | ADD | TSM | +146,448 | +$91M |
| Q1 2026 | TRIM | AMZN | -126,102 | $-76.2M |
| Q1 2026 | DROP | BE | -260,730 | $-22.7M |
| Q1 2026 | ADD | AVGO | +34,965 | +$9.6M |
| Q4 2025 | TRIM | AVGO | -712,647 | $-234.6M |
| Q4 2025 | ADD | CRWV | +3,213,230 | +$230.1M |
| Q4 2025 | DROP | BABA | -969,100 | $-173.2M |
| Q4 2025 | TRIM | META | -20,570 | $-152.2M |
| Q4 2025 | DROP | SNPS | -258,280 | $-127.4M |
| Q4 2025 | TRIM | SNOW | -400,780 | $-102.9M |
| Q4 2025 | ADD | GOOGL | +206,158 | +$86.4M |
| Q4 2025 | ADD | NVDA | +454,875 | +$84.2M |
| Q4 2025 | ADD | TSM | +150,550 | +$72M |
| Q4 2025 | ADD | AMZN | +48,186 | +$35.5M |
| Q4 2025 | NEW | BE | +260,730 | +$22.7M |
| Q4 2025 | ADD | MSFT | +115,260 | +$15.8M |
| Q3 2025 | ADD | AVGO | +744,776 | +$245.7M |
| Q3 2025 | ADD | BABA | +969,100 | +$173.2M |
| Q3 2025 | ADD | AMZN | +702,611 | +$154.5M |
| Q3 2025 | NEW | SNPS | +258,280 | +$127.4M |
| Q3 2025 | TRIM | NVDA | -607,262 | +$122.6M |
| Q3 2025 | DROP | CRWV | -649,536 | $-105.9M |
| Q3 2025 | ADD | TSM | +201,468 | +$102.1M |
| Q3 2025 | TRIM | SNOW | -397,246 | $-84.6M |
| Q3 2025 | ADD | GOOGL | +313,132 | +$76.1M |
| Q3 2025 | ADD | MSFT | +103,971 | +$75.6M |
| Q3 2025 | TRIM | META | -11,363 | $-15.3M |
| Q2 2025 | ADD | NVDA | +1,101,683 | +$528.8M |
| Q2 2025 | ADD | META | +41,665 | +$327.6M |
| Q2 2025 | TRIM | SNOW | -121,754 | +$201.5M |
| Q2 2025 | ADD | TSM | +867,209 | +$196.4M |
| Q2 2025 | ADD | MSFT | +83,041 | +$160.3M |
| Q2 2025 | ADD | AMZN | +419,708 | +$122.5M |
| Q2 2025 | DROP | BABA | -540,370 | $-71.5M |
| Q2 2025 | TRIM | CRWV | -2,350,000 | $-5.3M |
| Q1 2025 | TRIM | SNOW | -2,030,926 | $-337.9M |
| Q1 2025 | TRIM | NVDA | -695,292 | $-278.6M |
| Q1 2025 | DROP | GOOGL | -867,305 | $-164.2M |
| Q1 2025 | DROP | TSLA | -355,130 | $-143.4M |
| Q1 2025 | NEW | CRWV | +2,999,536 | +$111.2M |
| Q1 2025 | DROP | TSM | -504,380 | $-99.6M |
| Q1 2025 | DROP | CRM | -271,725 | $-90.8M |
| Q1 2025 | NEW | BABA | +540,370 | +$71.5M |
| Q1 2025 | TRIM | MSFT | -18,400 | $-52.7M |
| Q1 2025 | DROP | MU | -614,595 | $-51.7M |
| Q1 2025 | TRIM | META | -6,550 | $-20.6M |
| Q1 2025 | ADD | AMZN | +173,930 | +$7.7M |
| Q4 2024 | TRIM | MSFT | -592,420 | $-263.7M |
| Q4 2024 | TRIM | SNOW | -3,669,649 | $-224.6M |
| Q4 2024 | TRIM | META | -421,815 | $-217.4M |
| Q4 2024 | ADD | NVDA | +49,180 | +$106.8M |
| Q4 2024 | DROP | AVGO | -396,895 | $-68.5M |
| Q4 2024 | ADD | GOOGL | +205,660 | +$54.4M |
| Q4 2024 | NEW | MU | +614,595 | +$51.7M |
| Q4 2024 | TRIM | CRM | -186,010 | $-34.4M |
| Q4 2024 | TRIM | TSLA | -307,270 | $-29.9M |
| Q4 2024 | TRIM | AMZN | -31,065 | +$23M |
| Q4 2024 | TRIM | TSM | -14,910 | +$9.4M |
| Q3 2024 | TRIM | SNOW | -902,787 | $-296.9M |
| Q3 2024 | ADD | TSLA | +662,400 | +$173.3M |
| Q3 2024 | TRIM | META | -28,660 | +$140M |
| Q3 2024 | TRIM | AMZN | -532,040 | $-109.1M |
| Q3 2024 | NEW | TSM | +519,290 | +$90.2M |
| Q3 2024 | ADD | AVGO | +396,895 | +$68.5M |
| Q3 2024 | DROP | DELL | -493,940 | $-68.1M |
| Q3 2024 | DROP | AAPL | -271,370 | $-57.2M |
| Q3 2024 | TRIM | MSFT | -39,740 | $-44.2M |
| Q3 2024 | ADD | CRM | +94,145 | +$31.8M |
| Q3 2024 | TRIM | GOOGL | -12,885 | $-13.1M |
| Q3 2024 | ADD | NVDA | +55,779 | $-9.5M |
| Q2 2024 | TRIM | SNOW | -730,343 | $-371.2M |
| Q2 2024 | ADD | NVDA | +6,947,665 | +$239.6M |
| Q2 2024 | DROP | TSLA | -589,700 | $-103.7M |
| Q2 2024 | NEW | CRM | +363,590 | +$93.5M |
| Q2 2024 | ADD | GOOGL | +388,100 | +$79.6M |
| Q2 2024 | NEW | AAPL | +271,370 | +$57.2M |
| Q2 2024 | DROP | AVGO | -39,610 | $-52.5M |
| Q2 2024 | TRIM | MSFT | -24,230 | +$32.4M |
| Q2 2024 | DROP | COHR | -428,270 | $-26M |
| Q2 2024 | ADD | DELL | +4,690 | +$12.3M |
| Q2 2024 | TRIM | META | -64,740 | +$11.3M |
| Q2 2024 | TRIM | AMZN | -72,975 | +$5.3M |
| Q1 2024 | TRIM | SNOW | -2,143,855 | $-811.1M |
| Q1 2024 | TRIM | NVDA | -6,515 | +$320.6M |
| Q1 2024 | TRIM | META | -47,380 | +$293.5M |
| Q1 2024 | ADD | AMZN | +252,585 | +$81.2M |
| Q1 2024 | TRIM | MSFT | -3,090 | +$72.6M |
| Q1 2024 | ADD | TSLA | +433,030 | +$64.7M |
| Q1 2024 | NEW | DELL | +489,250 | +$55.8M |
| Q1 2024 | NEW | AVGO | +39,610 | +$52.5M |
| Q1 2024 | ADD | GOOGL | +286,430 | +$43.2M |
| Q1 2024 | NEW | COHR | +428,270 | +$26M |
| Q4 2023 | HOLD | META | 0 | +$129.3M |
| Q4 2023 | TRIM | SNOW | -2,975,190 | +$119.9M |
| Q4 2023 | HOLD | MSFT | 0 | +$99.7M |
| Q4 2023 | ADD | NVDA | +27,450 | +$60.1M |
| Q4 2023 | ADD | TSLA | +156,670 | +$38.9M |
| Q4 2023 | HOLD | AMZN | 0 | +$31.1M |
| Q3 2023 | ADD | SNOW | +30,675 | $-352M |
| Q3 2023 | ADD | AMZN | +848,190 | +$106.5M |
| Q3 2023 | ADD | META | +176,905 | +$82.6M |
| Q3 2023 | ADD | NVDA | +31,640 | +$22.6M |
| Q3 2023 | DROP | GOOGL | -85,750 | $-10.3M |
| Q3 2023 | ADD | MSFT | +119,825 | $-172K |
| Q2 2023 | HOLD | SNOW | 0 | +$333.4M |
| Q2 2023 | HOLD | META | 0 | +$167.2M |
| Q2 2023 | HOLD | NVDA | 0 | +$107.6M |
| Q2 2023 | TRIM | GOOGL | -1,049,150 | $-107.5M |
| Q2 2023 | HOLD | MSFT | 0 | +$80.1M |
| Q2 2023 | NEW | AMZN | +406,530 | +$53M |
| Q2 2023 | DROP | GTLB | -611,206 | $-21M |
| Q1 2023 | ADD | META | +233,400 | +$232.2M |
| Q1 2023 | HOLD | SNOW | 0 | +$165.2M |
| Q1 2023 | ADD | NVDA | +297,900 | +$141M |
| Q1 2023 | NEW | GOOGL | +1,134,900 | +$117.7M |
| Q1 2023 | HOLD | MSFT | 0 | +$74.3M |
| Q1 2023 | HOLD | GTLB | 0 | $-6.8M |
| Q4 2022 | TRIM | SNOW | -1,632,337 | $-683.5M |
| Q4 2022 | TRIM | META | -352,500 | $-78.4M |
| Q4 2022 | NEW | NVDA | +442,670 | +$64.7M |
| Q4 2022 | DROP | TSLA | -173,000 | $-45.9M |
| Q4 2022 | DROP | MDB | -92,610 | $-18.4M |
| Q4 2022 | HOLD | MSFT | 0 | +$10.6M |
| Q4 2022 | HOLD | GTLB | 0 | $-3.5M |
| Q3 2022 | HOLD | SNOW | 0 | +$525.4M |
| Q3 2022 | TRIM | MSFT | -230,000 | $-95.8M |
| Q3 2022 | TRIM | META | -111,800 | $-78M |
| Q3 2022 | TRIM | MDB | -175,200 | $-51.1M |
| Q3 2022 | NEW | TSLA | +173,000 | +$45.9M |
| Q3 2022 | TRIM | GTLB | -350,000 | $-19.8M |
| Q2 2022 | HOLD | SNOW | +17,001,796 | +$2.4B |
| Q2 2022 | HOLD | MSFT | +1,763,135 | +$452.8M |
| Q2 2022 | HOLD | META | +2,458,776 | +$396.5M |
| Q2 2022 | HOLD | MDB | +267,810 | +$69.5M |
| Q2 2022 | HOLD | GTLB | +961,206 | +$51.1M |