Impax Asset Management released its Q3 2025 investor letter, reporting strong gains in global equities but underperforming its benchmark. The portfolio returned 4.55%, but the MSCI ACWI index returned 7.62%. Check the fund’s top 5 holdings for insights into its 2025 picks.

Carrier Global Corporation (NYSE:CARR) was highlighted in Impax Global Environmental Markets Fund’s Q3 2025 letter. The stock saw a one-month return of -1.58% and lost 22.97% over 52 weeks. On December 24, 2025, Carrier Global Corporation (NYSE:CARR) closed at $53.50 per share with a market cap of $45.53 billion.

Impax Global Environmental Markets Fund noted Carrier Global Corporation (NYSE:CARR) sold off in Q3 due to weaker US HVAC volumes. Despite softer demand, the team sees Carrier as attractively priced for potential gains as end-market demand improves.

Carrier Global Corporation (NYSE:CARR) is not among the 30 most popular stocks among hedge funds. While 48 hedge fund portfolios held CARR in Q3, some believe AI stocks offer greater upside with less downside risk. Explore a free report on the best short-term AI stock for potential investment opportunities.

Read more at Yahoo Finance: Carrier Global (CARR) Sold Off Due to Guidance Cut