In the fourth quarter, Hong Kong–based Oriental Harbor Investment Master Fund acquired 177,587 shares of the Direxion Daily GOOGL Bull 2X Shares ETF, investing approximately $15.12 million based on the period’s average closing price. By quarter end, the position had grown in value to roughly $22.3 million, driven by additional purchases and price appreciation. This holding now represents 2.42% of the fund’s total 13F assets under management, underscoring the manager’s conviction in Alphabet’s near-term upside.

Alphabet’s integration of artificial intelligence into its core products continues to fuel revenue growth, with Google search generating $56.6 billion in the third quarter—a 14.6% increase from $49.4 billion in the same quarter of 2024. Overall Q3 sales climbed 16% year-over-year to $102.3 billion, signaling that AI enhancements are complementing, not cannibalizing, existing advertising streams. Investors’ enthusiasm around these results underpins the leveraged ETF’s performance and the decision by a major hedge fund to increase its stake.

The GGLL ETF, which had assets under management of $1.06 billion at quarter end, seeks to deliver twice the daily return of Alphabet shares through swap agreements and other derivatives. Its one-year price change stood at approximately 140.5%, while the fund’s dividend yield was 3.66%. Though this structure offers magnified exposure for tactical traders, long-term investors are advised to consider direct ownership of Alphabet shares to avoid the compounding effects and volatility inherent in daily-resetting leverage products.