Alphabet (GOOG, Financial) saw a strong rebound in fourth-quarter revenue and profitability as its advertising business benefited from a reopening of the economy. The company also has been successful in monetizing its YouTube business segment, and its corporate cloud business has been gaining momentum. At the quarter's end, Alphabet stood as the Fund's largest position. We expect the company's momentum to continue, and it could even accelerate as travel and leisure spending resume in earnest.
From Mairs & Powers Growth Fund's first-quarter 2021 shareholder letter.
