In its latest 13F filing for the third quarter, Canoe Financial LP disclosed an 11.5% reduction in its Alphabet Inc. position, selling 152,500 shares to end the period with 1,176,314 shares outstanding. At quarter end, Alphabet represented 4.1% of Canoe’s total assets, making it the fund’s second-largest holding. The remaining stake carried a reported value of $285.96 million, reflecting Canoe’s recalibrated exposure to Google’s parent amid its broader against-the-market repositioning.

Several major funds concurrently adjusted their GOOGL stakes in Q3. Truist Financial Corp added 56,295 shares (up 2.3%), lifting its total to 2,546,012 shares and solidifying its rank among the top five holders with a reported position worth $448.68 million. Bridgeway Capital Management increased its holding by 17.9%, acquiring 13,371 shares to reach 88,187. Alaethes Wealth LLC and Moment Partners LLC made more modest moves, adding 84 and 504 shares (1.1% and 9.3% increases), while Welch Group LLC purchased 2,467 shares (a 4.0% boost). These reallocations signal a continued institutional appetite for Alphabet, albeit with nuanced position-sizing.

Alphabet shares remain heavily institutionalized, with 40.03% of float held by hedge funds and other large investors. The mix of strategic buys and selective trimming suggests divergent investor views on near-term catalysts—ranging from AI monetization accelerants to regulatory overhangs. For portfolio managers, the stock’s second-largest-holding status at Canoe and sizeable stakes at Truist and Bridgeway underscore Alphabet’s dual role as both a core growth anchor and a tactical allocation subject to quarter-end rebalancing.