Historically, Class A shares (GOOGL) commanded a 1-2% premium over Class C (GOOG) due to voting rights. As of late January 2026, that spread has compressed to historical lows (near 0.1% – 0.3%).
This compression is a mechanical result of Alphabet’s capital allocation strategy. Since early 2025, the company has increasingly utilized its $70B+ buyback authorization to repurchase Class A shares more aggressively than in previous cycles.
- The Implication: For the individual investor, the “voting premium” is currently priced at nearly zero.
- The Play: At current parity, GOOGL is objectively superior. You are essentially getting voting rights for free. We monitor this daily; if the spread widens back to 1.5% during the post-earnings volatility, a tactical rotation back into Class C would be the pragmatic move.
