Impax Asset Management released its Q3 2025 investor letter, reporting a 7.33% return for the Institutional Class, lagging behind the Russell 1000’s 7.99%. The portfolio’s focus on lower-risk factors contributed to underperformance, but you can check the fund’s top 5 holdings for insights into its 2025 strategy.

In its Q3 2025 investor letter, Impax US Sustainable Economy Fund highlighted Alphabet Inc. (NASDAQ: GOOG), which closed at $314.55 per share on January 6, 2026. Alphabet Inc. (NASDAQ: GOOG) experienced a -2.01% one-month return and gained 60.99% over the last 52 weeks, with a market capitalization of $3.797 trillion.

Impax US Sustainable Economy Fund praised Alphabet Inc. (NASDAQ: GOOG) in Q3 2025 for its mid-teens revenue growth, cloud services demand, and regulatory relief. The company saw its strongest quarterly gain in nearly two decades and achieved its first-ever $100 billion in revenue.

Alphabet Inc. (NASDAQ: GOOG) ranks 7th on the list of 30 Most Popular Stocks Among Hedge Funds, with 186 hedge fund portfolios holding the stock at the end of Q3 2025. While acknowledging Alphabet Inc.’s potential, certain AI stocks with greater upside potential and less downside risk are also worth considering.

Read more at Yahoo Finance: Here’s why Alphabet (GOOG) is on the Detractors’ list of Impax US Sustainable Economy Fund