Vision Capital Adds Alphabet, Citing Its Advertising Reach
The fund opened an Alphabet position in Q3 and pointed to Google's share of global digital advertising revenue as part of its rationale.
Key takeaways
- Vision Capital Fund opened an Alphabet position in Q3 2026.
- The fund said Alphabet captures 49.6% of global digital ad revenue outside China and Russia.
Vision Capital Fund opened a position in Alphabet during the third quarter of 2026, citing Google's reach across search and digital advertising. The fund reported an unaudited Q3 net return of 14.4%, compared with 2.3% for the S&P 500.
In its investor letter, the fund said Alphabet was growing about 15%, slower than Meta and Amazon at more than 25%, and would lose share to both.
The fund said Alphabet still captures 49.6% of global digital advertising revenue excluding China and Russia. It described Alphabet, Meta and Amazon as a near oligopoly, with a combined 94.1% share; it put Meta's share at 33.0% and Amazon's at 11.5%.
This article was produced with the help of AI technology. Source: Yahoo Finance
