Brad Gerstner's (Altimeter) Trades and Holdings in Q2 2025

Breaking down the stocks Brad Gerstner (Altimeter) bought, sold, and held in Q2 2025, including their holdings at the end of the quarter. All data sourced from Altimeter's 13F filed on August 14, 2025.

Who is Altimeter?

Altimeter is a technology-focused investment firm founded by Brad Gerstner in 2008. The firm manages both private and public equity investments with an emphasis on high-growth technology sectors. Altimeter has built its reputation through prescient early investments in transformative tech companies like Uber and Snowflake, employing a strategy that bridges venture capital insights with public market discipline.

Altimeter.com
Wikipedia on Altimeter
Q2 '25 13F filed with SEC

Portfolio Changes in Q2 2025

New positions

Altimeter established three significant new positions during Q2 2025, with Taiwan Semiconductor (TSM) being the largest at $196.4 billion, followed by Samsara (IOT) at $119.0 billion and Datadog (DDOG) at $118.4 billion.

Bought

Altimeter significantly increased several existing positions, most notably adding over 4 million shares to Coupang (CPNG) and 2.5 million shares to Confluent (CFLT), while also substantially building positions in Nvidia (NVDA), Zillow Group (Z), Maplebear (CART), and making a particularly large addition to Arm Holdings (ARM) with over 750,000 additional shares.

Sold

Altimeter completely liquidated positions in Alibaba (BABA), Astera Labs (ALAB), Rubrik (RBRK), Flutter Entertainment (FLUT), SailPoint (SAIL), ServiceTitan (TTAN), and QQQ PUT options, while also trimming holdings in CoreWeave by 2.35 million shares and reducing Snowflake (SNOW) by approximately 122,000 shares.

New Investments in Q2 2025

Taiwan Semiconductor TSM

Brad Gerstner bought $196.41B of Taiwan Semiconductor in Q2 2025. Taiwan Semiconductor delivered exceptional Q2 2025 results, significantly outperforming expectations with revenue beats of 36-38% and EPS beats of 41-61% across key metrics. The company demonstrated strong sequential growth momentum with 17.8% quarter-over-quarter revenue increase to TWD 30.1 billion and operating margin expansion to 49.6%, driven primarily by surging AI and high-performance computing demand. The semiconductor leader continues to capitalize on the AI boom, with HPC revenue now representing 60% of total revenue and growing 14% sequentially, while maintaining technology leadership in advanced 3nm processes and ramping next-generation N2 technology.

• Revenue exceeded guidance with 17.8% sequential growth in Q2 2025, beating estimates by 36-38%.
• EPS surged with beats of 41-61% above estimates across reporting periods.
• Operating margin expanded 1.1 percentage points sequentially to 49.6% in Q2 2025.

Samsara IOT

Brad Gerstner bought $118.97B of Samsara in Q2 2025. Samsara has demonstrated strong operational execution over the past two quarters, delivering consistent earnings beats with 83.33% EPS surprise in Q1 2026 and 57.14% in Q4 2025, while maintaining robust revenue growth of approximately 32% year-over-year. Despite solid fundamentals including strong international expansion contributing 18% of net-new Annual Contract Value and growing large enterprise customer adoption, the stock has faced significant headwinds with a 29.68% decline over the past three months. The company's Connected Operations Cloud platform continues to gain traction in vehicle telematics and equipment monitoring, with Equipment Monitoring alone generating over $125 million in annual recurring revenue.

• EPS has consistently beaten expectations by 57-83% over the last two quarters.
• Revenue growth maintained at approximately 32% year-over-year in recent quarters.
• Stock declined 29.68% over the past three months despite strong operational performance.

Datadog DDOG

Brad Gerstner bought $118.44B of Datadog in Q2 2025. Datadog demonstrated strong momentum in Q2 2025 with 28% year-over-year revenue growth to $827 million, accelerating from 25% growth in Q1 2025 and beating analyst estimates by $35.88 million. The company continues to expand its high-value customer base with 3,850 customers generating over $100k in annual recurring revenue, representing 89% of total ARR, while maintaining strong cash generation with $200 million in operating cash flow. Despite solid fundamentals and beating earnings expectations with non-GAAP EPS of $0.46 versus $0.41 consensus, the stock declined approximately 6% post-earnings due to margin concerns and potential volatility from AI-native customer contracts.

• Revenue growth accelerated from 25% in Q1 2025 to 28% in Q2 2025.
• Non-GAAP EPS of $0.46 beat consensus estimates by 12.20%.
• High-value customers ($100k+ ARR) grew 13.6% year-over-year to 3,850 accounts.

Holdings at the end of Q2 2025

Disclaimer: All posts are for informational purposes only. They are NOT a recommendation to buy or sell the securities discussed. Please do your own research and due diligence before investing your money.