The second quarter investor letter from investment management firm Tourlite Capital Management has been released. Since it was founded, the fund has only sent one letter, which is this one. The fund made a return of 4.5 % in the second quarter, while the S&P 500 Index lost 16.1 %.
Tourlite Capital Management talked about its expectations for the market and investment strategy in the letter. Alphabet Inc. (NASDAQ:GOOGL) was among the stocks included in the letter’s list of portfolio holdings. The organization is a global multi-national technology provider. The $1.51 trillion market value of Alphabet Inc. (NASDAQ:GOOGL), which has its corporate headquarters in Mountain View, California. On July 29, 2022, Alphabet Inc.’s shares reached a close price of $116.32 per share. The return for the previous month for Alphabet Inc. (NASDAQ:GOOGL) was 6.46 %, while the return for the past year fell to -14.60 %.
The third stock on a list of the 30 Most Popular Stocks Among Hedge Funds is Alphabet Inc. (NASDAQ:GOOGL). According to records, Alphabet Inc. (NASDAQ:GOOGL) was held by 205 hedge fund portfolios at the end of Q1 of 2022 as opposed to 209 the previous quarter. Over the past three months, Alphabet Inc. (NASDAQ:GOOGL) stock has lost 0.75 % of its value.
Alphabet’s Overview
After revamping their Google firm, Larry Page and Sergey Brin created Alphabet in October of that same year. Alphabet Inc. (NASDAQ:GOOGL) trades under the ticker symbol GOOGL and offers investors Class A shares, while the GOOG ticker symbol designates Alphabet’s Class C shares. The company now has two ticker listings. The only distinction between the two is that Class A shares have voting rights, while Class C shares do not. As a day trader, you shouldn’t worry about this.
Through its 2006 acquisition of YouTube, Alphabet (NASDAQ:GOOGL) has maintained its dominance in search and online video streaming. Alphabet Inc. (NASDAQ:GOOGL) will continue to offer a lot of trading chances in the future, given its long-standing market dominance and incursion into other technologies.
Featured Image: Megapixl @Nadeesha5814
