Here’s why Alphabet (GOOG) is on the Detractors’ list of Impax US Sustainable Economy Fund

Core Insights - Impax US Sustainable Economy Fund underperformed the Russell 1000 in Q3 2025, returning 7.33% compared to the index's 7.99% due to a focus on lower-risk, high-quality factors [1] - The fund's top holdings include Alphabet Inc. (NASDAQ:GOOG), which has shown significant growth and innovation in AI-related services [2][3] Fund Performance - The portfolio's performance in Q3 2025 was impacted by a risk-on market environment favoring high-risk and high-momentum stocks [1] - The fund's Institutional Class returned 7.33% in Q3 2025, lagging behind the Russell 1000's return of 7.99% [1] Alphabet Inc. Insights - Alphabet Inc. (NASDAQ:GOOG) achieved its first-ever $100 billion in revenue in Q3 2025, marking a significant milestone [4] - The company experienced mid-teens revenue growth driven by AI services, strong financial results, and regulatory relief, with a notable backlog in cloud services [3] - Alphabet's stock closed at $314.55 on January 6, 2026, with a one-month return of -2.01% but a 52-week gain of 60.99% [2] Hedge Fund Interest - Alphabet Inc. (NASDAQ:GOOG) was held by 186 hedge fund portfolios at the end of Q3 2025, an increase from 178 in the previous quarter, indicating growing interest among institutional investors [4]