Gerstner Exits All Alphabet Shares, Opens Large Arm and Axon Stakes

On June 12, 2026, Altimeter Capital disclosed its Q1 2026 13F filing showing a complete exit from Alphabet. Brad Gerstner sold 519,290 GOOG shares and redeployed proceeds into new AI-themed positions. The fund opened 1,715,440 shares of Arm Holdings valued at $259.5 million and 148,986 shares of Axon Enterprise worth $63.3 million. The rotation reflects concerns over Alphabet’s $175-185 billion 2026 capex guidance despite solid earnings. Arm’s fiscal Q4 revenue rose 20% YoY to $1.49 billion, while Axon posted 34% revenue growth and raised full-year guidance.