Activist investor Chris Hohn’s TCI Fund Management increased its stake in Alphabet (GOOG) by 12.25%, acquiring over 1 million additional shares to bring its total to 9.94 million. The position, now valued at approximately $3.51 billion, comprises 6.65% of the fund's reported portfolio. This move continues a trend for TCI, which significantly increased its Alphabet holdings in the first quarter of 2026 while rotating capital out of Microsoft, citing a belief that Google is better positioned for AI-driven growth.
This trade information comes from a quarterly 13F filing, which discloses positions held as of June 30, 2026, and does not reflect trades made since that date. The add comes as Alphabet reported strong Q2 results, with revenue up 24% year-over-year, driven by 82% growth in its Cloud division. However, the company also saw significant cash burn due to heavy capital expenditures on AI infrastructure, a key theme for investors during the quarter.