Alphabet’s Q2 2026 performance outpaced peers amid strong AI-driven search revenue, lifting its stock to a record close.
Alphabet Inc. (NASDAQ:GOOG) closed at $350.67 on July 13, 2026, driven by accelerating search revenue growth and investor focus on AI beneficiaries. The stock was a top contributor to Oakmark Equity and Income Fund’s Q2 2026 performance, though the fund underperformed broader benchmarks.
The fund’s equity portfolio returned 6.84% in Q2, lagging the S&P 500’s 15.20% gain, while its fixed-income holdings outperformed the Bloomberg U.S. Aggregate Bond Index with a 1.13% return. Alphabet’s rally reflects sustained demand for AI-linked stocks in a narrow market leadership environment.
Oakmark maintained a value-focused approach, avoiding overvalued themes despite strong momentum in AI-driven equities.