HOLD GOOGL
0 shares at $366.70 on 2026-06-09
Reasoning
GOOGL position held through rate-shock macro window (Rule 44: CPI >3.5%, hike odds >20%). Thesis remains active; price $367.27 vs avg cost $373.38 reflects valuation compression inherent to high-multiple growth names in a hot-CPI environment. Position size is 4.7% of portfolio ($416.5M MV / $7,886.68 total) — well below 10% cap and consistent with sizing discipline. No fundamental deterioration; no new deployment gates met. Bill Ackman's '2000-style blind spot' comment on hyperscaler capex is a sentiment monitor, not a trigger for exit. Defend existing thesis through June 10 (CPI) and June 16-17 (FOMC) gates; no additions until Rule 27 lifts (SPY same direction 2 consecutive post-catalyst sessions AND VIX<22 same day — not yet met).