Brad Gerstner's Altimeter Capital initiated a new position in semiconductor equipment leader Applied Materials, valued at $189.4 million. The stake, comprising nearly 262,000 shares, accounted for just under 2% of Altimeter's reported portfolio.
As with all 13F filings, the disclosure, made public on August 14, 2026, reflects trades executed during the prior quarter ending June 30. The investment aligns with Altimeter's broader strategy of betting on the essential "picks-and-shovels" of the AI supercycle. The move coincided with a period where Applied Materials reported record quarterly revenue, citing the rapid build-out of AI computing infrastructure as a key driver for sustained growth.