Brad Gerstner of Altimeter Capital is known for his AI tech investing, while Cathie Wood is known for her aggressive growth investing across different sectors. The latest 13F filings for the second quarter show that there are two stocks common in their portfolios: Snowflake (NYSE:SNOW) and Robinhood (NASDAQ:HOOD).
Gerstner holds a large stake of 1.9 million shares in Snowflake, making it 4.99% of his portfolio. Wood opened a new position in the company with 269,539 shares.
On Robinhood, the two moved in opposite directions, but both stayed in. Gerstner held his position steady at 899,691 shares, about 0.92% of his portfolio. Wood trimmed hers by 13% to roughly 5.24 million shares, though Robinhood remains one of her larger holdings at 3.41%.
For this article, we will analyze Snowflake in detail.
Cathie Wood of ARK Investment Management
Analyzing Snowflake
Snowflake Inc. (NYSE:SNOW) sells a cloud data platform that helps companies organize their data in one place. The company has become strongly relevant in the AI revolution because to use AI technologies efficiently, companies need clean, organized, permissioned data sitting somewhere the model can reach.
What the Last Quarter Showed
In fiscal Q1 2027, revenue rose 33% year over year and beat consensus. Product revenue jumped 34%, up from 30% the prior quarter and 26% a year earlier, so growth has accelerated for two straight quarters. Net revenue retention hit 126% against a 124.5% expectation. Management raised full-year fiscal 2027 product revenue guidance to imply 31% growth, better than the 27% it guided previously.
Growth Without the Capex Bill
Snowflake doesn’t own data centers or buy GPUs. It sells infrastructure as a managed service. Major AI companies like Amazon and Alphabet are spending on physical AI buildout, but Snowflake can ride the AI wave without huge spending.
The AI Products Doing the Work
The company’s AI tool Snowflake Intelligence lets a non-technical employee ask a question in plain English and get an answer pulled from company data. It passed 2,500 accounts by fiscal Q4 2026, nearly doubling quarter over quarter. Cortex Code, the separate coding agent that writes and fixes data pipelines, was live in over 4,400 customers within weeks of launch, and management named it the single biggest reason for the guidance raise.
Stretched Valuation
Bears believe the price already assumes everything goes right. The stock trades at a forward non-GAAP P/E of 167.82, about 625% above the sector median of 23.15. Forward EV/sales sits at 18.25 against a sector median of 3.58. The sharpest number is the forward PEG of 5.37 versus a sector median of 1.24, which says the premium is too rich even after giving Snowflake credit for growing faster than its peers.
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