Diamond Hill's Large Cap Strategy returned 3.18% net of fees in Q3 2026, outperforming the Russell 1000 Value Index's 2.61%. In its Q3 2026 investor letter, the fund said it had initiated a position in Alphabet (GOOGL), believing AI is strengthening its core search and advertising business and that Google Cloud has become a leading AI-infrastructure platform with attractive, profitable revenue growth. Alphabet closed at $340.59 on October 16, 2026, with a $4.15 trillion market capitalization, up 8.81% year to date and trading in a 52-week range of $244.15 to $408.61. At the end of Q2, 275 hedge fund portfolios held the stock, up from 265 in the prior quarter.
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GOOGLinvestment trustscloud computingartificial intelligence
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Related tickers and likely impact
GOOGL
▲ Likely positiveAlphabet Inc. (Class A)
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.3T |
| Close on 10/16/2026 | 340.59 |
| Change that session | -2.47% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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