Q2 value · Brad Gerstner / Altimeter
Altimeter built a $1.6B Cerebras position in Q2, layered in semi-cap equipment and memory
Changes
18
10 NEW · 3 ADD · 3 TRIM · 2 DROP
Top-5 concentration
56.3%
NVDA 19.2%
Altimeter's 2026 Q2 13F opened a $1.60B CBRS (Cerebras Systems) position at 16.2% of AUM — the #2 holding behind NVDA at $1.88B (19.2%). Nine other new positions: SPCX (SpaceX private) $304M / 3.1%, MU $242M, QCOM $348M, AMAT $189M, KLAC $174M, LRCX $171M, SNPS $60M, GOOGL $60M and GRABW. META was trimmed −30.6% shares to $763M. CRWV added +35% shares to $600M. AI-related holdings total $7.6B across 16 names (77% of AUM).
New positions
7| Ticker | Company | | Value | Shares | % of book |
|---|
| CBRS | Cerebras Systems Inc | AI silicon | $1.6B | 7.2M shares | 16.2% |
| QCOM | Qualcomm | AI silicon | $347.9M | 1.9M shares | 3.5% |
| SPCX | Space Exploration Technologies Class A | AI infrastructure | $303.5M | 1.8M shares | 3.1% |
| MU | Micron Technology | memory | $241.8M | 209.5K shares | 2.5% |
|