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BUZZ-BlackRock's largest mutual fund appears to warm to Google again

** BlackRock Inc portfolio managers appear to have turned more optimistic on Alphabet Inc

** This after trimming stakes in the Google parent in Jan and expressing fear Trump administration policies could hurt tech cos with hefty foreign revenue

** Alphabet's C-class shares reclaimed a space on the $39 billion BlackRock Global Allocation Fund's top-10 holdings list (disclosures as of Jul 31)

** Stock's weighting in fund implies a stake of more than 300,000 shares worth about $290 million, compared to a 195,023 share stake worth $177 million on Apr 30

** Alphabet and BlackRock either declined to comment or did not respond to requests to comment

** U.S. President Trump's promises of trade and tax reforms to boost domestic growth were initially seen pushing up the dollar; those expectations have ebbed, with the U.S. Dollar index now down 9.3 pct YTD

** Alphabet earned 53 pct of revenue outside of the U.S. last year; Global Allocation's managers wrote in a note earlier this year that they "reduced the fund's exposure to select technology stocks, including U.S.-based companies that generate a significant portion of revenues from non-U.S. dollar sources."

** Alphabet reported a 21 pct jump in qtrly revenue last month