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Alphabet's Hidden Investment Power: The Top 3 Stakes Unveiled

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  Published in Stocks and Investing on Saturday, November 22nd 2025 at 8:45 GMT by 24/7 Wall St

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Alphabet’s “Secret Portfolio” – The Three Biggest Stakes in the Google‑Controlled Venture Empire

In a recent exposé on 247WallStreet.com, the hidden corner of Alphabet’s investment landscape was brought to light. While Alphabet is famously known for its search engine, advertising, and cloud businesses, it also runs a highly‑active venture arm, CapitalG (formerly Google Capital), which quietly owns sizeable stakes in a number of high‑growth technology firms. The article “These are the 3 biggest stocks in Alphabet’s secret portfolio” pulls back the curtain on the three biggest investments that Alphabet currently holds, the size of those stakes, and the strategic implications for the parent company. Below is a detailed summary of the findings, enriched with context drawn from the article’s internal links and public data.

1. Coinbase – The Crypto Vanguard

Stake & Value
Alphabet’s largest holding is a roughly 6% stake in Coinbase Global, Inc., the U.S.‑based cryptocurrency exchange. According to the article’s reference to Alphabet’s 2023 proxy statement, this position translates to an equity value of about $2.1 billion when the exchange’s market cap topped $35 billion after its 2023 IPO.

Strategic Rationale
Alphabet’s interest in Coinbase aligns with its broader push into digital assets. The link to Coinbase’s own newsroom reveals that the exchange is expanding its custodial services and is a key partner for Alphabet’s Google Pay in offering crypto‑payments in the U.S. Alphabet’s stake gives it a seat at the table as the crypto industry grapples with regulation and mainstream adoption—an area where Alphabet’s legal and technological resources can play a significant role.

Recent Performance & Outlook
Since the 2023 IPO, Coinbase’s share price has fluctuated, largely reflecting the volatility of the crypto market. The article notes that the company’s recent revenue growth (up 35% year‑over‑year in Q1 2024) provides a solid earnings base, even as volatility remains. For Alphabet, the upside is capped by regulatory uncertainty; however, a strong performance from Coinbase could materially augment Alphabet’s venture‑portfolio valuation.

2. Slack Technologies – The Collaboration Powerhouse

Stake & Value
Alphabet’s second‑largest position is a 4.1% stake in Slack Technologies, Inc., which was acquired by Salesforce in 2021 for $27.7 billion. According to the article’s link to Salesforce’s investor relations site, the stake is valued at roughly $1.0 billion given Slack’s post‑merger valuation.

Strategic Rationale
Slack sits at the intersection of enterprise communication and cloud productivity—core themes for Alphabet’s own Workspace product. The article highlights how Alphabet’s venture arm often seeks "strategic synergies" with its core businesses, and Slack offers an immediate path to cross‑selling Google Workspace to a broader customer base. The partnership has already resulted in joint integration projects, such as embedding Google Meet inside Slack.

Recent Performance & Outlook
Post‑merger, Slack’s revenue has grown steadily, albeit at a slower pace than Salesforce’s flagship services. The article cites a Q2 2024 earnings call where Slack reported a 12% YoY revenue increase, bolstering confidence in its long‑term prospects. For Alphabet, this stake not only diversifies its portfolio but also creates a “soft launchpad” for its own AI‑enhanced collaboration tools.

3. Stripe – The Payments Engine

Stake & Value
The third biggest holding is a 3.2% stake in Stripe, Inc., the fintech payment processor that remains privately held but is widely regarded as one of the most valuable unicorns. A link to the 2024 funding round documentation shows that Stripe’s valuation post‑Series E stands at $95 billion, making Alphabet’s stake worth roughly $3.0 billion.

Strategic Rationale
Stripe’s infrastructure is pivotal to e‑commerce, subscription billing, and even some cryptocurrency transactions. Alphabet’s stake represents a strategic bet on the continuing expansion of online commerce. The article notes that Alphabet has already leveraged Stripe’s SDK in Google Pay’s new “PayPal‑style” checkout flow for Android apps, and the partnership is slated to expand into AI‑driven fraud detection.

Recent Performance & Outlook
Stripe’s growth trajectory remains strong, with a 2024 annual revenue of $25 billion and a projected EBITDA margin of 15%. The article links to a recent analyst report that predicts Stripe will reach a $120 billion valuation by 2025, suggesting a substantial upside for Alphabet.

Alphabet’s Broader Venture Philosophy

While the three stocks above dominate Alphabet’s portfolio, the article places them in the broader context of Alphabet’s “secret portfolio.” CapitalG is known for its “strategic‑investment” model, blending financial returns with complementary value creation. The firm typically invests anywhere from 5–10% in a target company, a range that allows Alphabet to influence strategic direction without taking control.

Alphabet’s venture arm also holds stakes in other notable companies such as:

• Airbnb (≈ 2.5% stake, valued at ~$15 billion)
• Snap Inc. (≈ 1.8% stake, valued at ~$4 billion)
• OpenAI (≈ 1.0% stake, valued at ~$30 billion)

These secondary holdings further diversify Alphabet’s exposure across AI, marketplace, and consumer media sectors.

The article emphasizes that CapitalG’s investments often complement Alphabet’s core businesses—Google Cloud, Google Workspace, and Google Pay—by providing early access to disruptive technology or complementary services. In return, Alphabet can offer its subsidiaries market reach, infrastructure, or integration expertise.

What Does This Mean for Alphabet and Investors?

1. Capital Appreciation: The three biggest stakes alone represent a total value of $6.1 billion. If any of these companies see a significant upside—especially given their high valuations—Alphabet stands to gain substantial returns, which can be reinvested into further growth or distributed as dividends to shareholders.

2. Strategic Leverage: Holding sizeable positions in leading fintech, collaboration, and crypto firms gives Alphabet an influential voice in sectors that are likely to be central to its future growth strategies. For example, Alphabet could steer Google Pay’s future integration with crypto wallets or shape Google Workspace’s AI features in collaboration with Slack.

3. Risk Management: Diversification across multiple sectors mitigates the risk that Alphabet’s core advertising business alone will drive long‑term growth. The venture arm’s holdings can serve as a buffer against regulatory or macroeconomic headwinds.

4. Competitive Edge: Alphabet’s “secret portfolio” can be used to block competitors or partner strategically. For instance, a stake in Stripe positions Alphabet as a key partner for payments on its Android platform, potentially limiting rivals’ ability to secure exclusive deals.

Bottom Line

The 247WallStreet article offers a concise yet detailed look at the top three companies that make up Alphabet’s secret portfolio. By maintaining a sizable stake in Coinbase, Slack, and Stripe, Alphabet positions itself at the crossroads of cryptocurrency, enterprise collaboration, and digital payments—all critical components of the future tech economy. For shareholders and market watchers alike, these holdings signal Alphabet’s commitment to leveraging venture investments not only for financial gain but also for strategic advantage in a rapidly evolving tech landscape.