Mountain View, California, April 8, 2026, 04:52 PDT
- On April 7, new filings revealed Zevenbergen increasing its stake in Alphabet’s Class A shares. Compagnie Lombard Odier SCmA and Empirical Wealth Management, on the other hand, cut back on their Class C holdings. MarketBeat
- Alphabet’s first-quarter numbers are due April 29. GOOG last traded near $303.93, GOOGL at $305.46 ahead of Wednesday’s U.S. session. Alphabet Investor Relations
- These filings show what managers held at the end of the quarter—they’re not up-to-the-minute. Actual positions could be different now. SEC
On April 7, fresh regulatory filings revealed Zevenbergen Capital Investments increasing exposure to Alphabet’s voting Class A shares. Compagnie Lombard Odier SCmA and Empirical Wealth Management were paring back non-voting Class C positions, according to MarketBeat. Still, the SEC’s tables show each manager also reported stakes in Alphabet’s alternate share class, which narrows the read: these aren’t broad buy-or-sell decisions on the Google parent. SEC
Now the focus shifts to Alphabet, which scheduled its first-quarter numbers for April 29, announced Tuesday. Investors are left sizing up their bets as Wall Street demands hard evidence that Alphabet’s AI investments are delivering. In early trading before Wednesday’s bell, GOOG traded at $303.93, with GOOGL at $305.46, putting Alphabet’s market cap around $2.94 trillion. Alphabet Investor Relations
Zevenbergen boosted its stake in GOOGL by 27.4% during Q4, according to a MarketBeat report, ending up with 251,637 Class A shares valued at $78.76 million. The Jan. 15 Form 13F from Zevenbergen—filed with the SEC—listed Alphabet Class C shares separately, so that headline number covers just the Class A line. MarketBeat
Lombard Odier trimmed back on GOOG. The Swiss asset manager cut its Alphabet Class C stake by 16.1%—that’s 16,078 shares sold—leaving it with 84,013 shares valued at about $26.36 million, according to filings cited by NationalToday and MarketBeat. The same filing also showed Class A shares held in other managed accounts. National Today
Empirical edged back its GOOG Class C stake, cutting it by 4.3% to 151,433 shares—about $47.52 million, according to MarketBeat. The Seattle-based firm’s Jan. 16 13F also listed an additional holding in Alphabet’s Class A shares. MarketBeat
Those headlines? They can mislead, thanks to Alphabet’s split share classes. GOOGL, the Class A stock, comes with one vote per share. GOOG, the Class C version, offers no voting rights at all. When you see a shift in just one ticker, don’t assume it’s a manager changing their entire Alphabet exposure. Alphabet Investor Relations
But there’s a hitch. Because Form 13F filings don’t come in until up to 45 days after a quarter wraps, the data can be dated. The three filings behind these numbers landed on Jan. 15 or Jan. 16, reflecting positions as of Dec. 31—plenty of time for things to change. SEC
Alphabet has a busy stretch ahead. On Tuesday, the company said it will post first-quarter earnings on April 29. Broadcom, for its part, revealed this week it’s locked in a deal with Alphabet through 2031 to help develop and supply new generations of Google’s custom AI chips—those are the tensor processing units, or TPUs—shoring up Google’s ambitions to build a real alternative to Nvidia’s graphics processors. Alphabet Investor Relations
Capital spending remains front and center. On its February earnings call, Alphabet projected 2026 capex in the $175 billion to $185 billion range—higher than Microsoft, Meta and Amazon, according to Reuters. CEO Sundar Pichai pointed to AI and infrastructure outlays as fueling “drive revenue and growth across the board.” Bernstein’s Mark Shmulik flagged mega-cap tech spend heading “north of a trillion dollars,” a pace that demands a far bigger AI market if returns are to come fast. Alphabet Investor Relations
There’s a risk here: spending, regulation, or community sentiment could shift more quickly than revenue does. Investors are already on Alphabet, Microsoft, and Amazon’s case, asking for more specifics about water and energy usage at U.S. data centers. Jason Qi at Calvert Research and Management says disclosure just isn’t cutting it: “haven’t seen them disclosing enough” about water use in local communities or the broader impact. Reuters
The April 7 filings don’t add up to a unified institutional call on Alphabet. Instead, they reveal fund managers tweaking their stakes across both tickers, right as the market braces for the next earnings run and renewed focus on AI payoffs. MarketBeat
