Canoe Financial LP reported an 11.5% reduction in its Alphabet Inc. shareholding during the third quarter, according to its latest 13F filing with the SEC. The firm sold 152,500 shares, bringing its total to 1,176,314 shares at quarter end. With Alphabet representing approximately 4.1% of Canoe’s overall portfolio, it remains the fund’s second-largest holding by market value, valued at roughly 286 million dollars as of the filing date.

Several other large institutional investors also adjusted their positions in Alphabet during the period. Truist Financial Corp increased its stake by 2.3%, adding 56,295 shares to reach 2,546,012 shares. Bridgeway Capital Management LLC boosted its holding by 17.9%, acquiring 13,371 additional shares for a total of 88,187. Moment Partners LLC and Welch Group LLC raised their positions by 9.3% and 4.0%, respectively, while Alaethes Wealth LLC added a further 84 shares. These moves reflect a mix of strategic rebalancing and targeted accumulation among leading asset managers.

Institutional investors now collectively hold just over 40% of Alphabet’s outstanding shares, underscoring the company’s prominence in diversified portfolios. The quarterly selling by Canoe and modest accumulation by peers may signal nuanced views on near-term growth prospects versus valuation. For investors, shifts of this scale—hundreds of thousands of shares—highlight the importance of monitoring changes in major holdings as indicators of broader sentiment toward Alphabet’s advertising, cloud and AI-driven revenue streams.