Alphabet Expands SpaceX Stake, Adds Qualcomm to Top Six

Alphabet’s third-quarter 2026 filing listed 555.04 million SpaceX shares worth $83.734 billion on Sept. 30, while a new Qualcomm holding entered the company’s top six disclosed positions.

SpaceX remained Alphabet’s largest position by far. It represented 94.78% of reported holdings, down from 95.05% in the previous quarter. Alphabet held about 3.85 million more shares, a 0.70% increase, even as SpaceX’s portfolio share declined.

Alphabet’s reported holdings totaled $88.346 billion, down 10.9% from about $99.1 billion in the second quarter. Because SpaceX made up nearly 95% of the portfolio, changes in its value affected the overall total. The lower reported value does not mean an equivalent amount of cash left the portfolio.

Qualcomm was the largest of four newly disclosed stock positions. Alphabet held about 2.977 million shares valued at $548 million, or 0.62% of reported holdings. The four new positions together were worth about $650 million, with Qualcomm accounting for 84.3%.

The filing ranked CME Group second, Planet Labs third and Arm fourth, with reported values of about $913 million, $578 million and $568 million, respectively. Revolution Medicines ranked fifth at about $549 million; Alphabet reduced that position by 9.25% during the quarter. Share counts for CME Group, Planet Labs and Arm were unchanged from the previous quarter.

The other new holdings were Neutron Holdings, Lime’s parent, valued at about $53.5 million; Freenome at about $31.8 million; and Obsidian Therapeutics at about $16.8 million. Alphabet’s AST SpaceMobile position was worth about $526 million, with its share count unchanged.

Across the quarter, Alphabet reported four new positions, one increase, three reductions and three exits. Its 10 largest holdings made up 99.48% of the reported portfolio. Freshworks’ share count fell by 1.87 million, or 11.54%. Ethos Technologies’ fell by about 3.05 million, or 84.21%, leaving about 571,900 shares valued at $19.2 million.