Janus Henderson Investors, an investment management firm, released its Q3 2025 investor letter for its “Janus Henderson Global Technology and Innovation Fund.” A copy of the letter can be downloaded here. The technology sector generated strong results in the quarter, driven by the semiconductor complex and hardware manufacturers, which outperformed stocks overall. The fund returned 9.19% for the quarter, compared to the S&P 500 Index’s 8.12% return and the MSCI All Country World Information Technology Index’s 12.76% return. Plus, check out the fund’s top five holdings to learn your best picks in 2025.
In its Q3 2025 investor letter, Janus Henderson Global Technology and Innovation Fund highlighted stocks like Alphabet Inc. (NASDAQ:GOOG). Alphabet Inc. (NASDAQ:GOOG), the parent company of Google, offers several platforms and services operating through the Google Services, Google Cloud, and Other Bets segments. Alphabet Inc. (NASDAQ:GOOG)’s monthly performance was -2.46% and its stock gained 59.78% in the past 52 weeks. On December 23, 2025, shares of Alphabet Inc. (NASDAQ:GOOG) closed at $315.68 per share, with a market capitalization of $3.8 trillion.
Janus Henderson Global Technology and Innovation Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its Q3 2025 investor letter:
“Alphabet Inc. (NASDAQ:GOOG), a major contributor, generated strong returns as the market perceived AI moving from a loser to a potential winner. The impetus behind the improved sentiment was that its Gemini tool rose in the ranks of downloaded AI platforms. The company also benefited from a favorable resolution of a case brought by the United States government. In the deal, Alphabet can still bid for placement of its search platform on devices, but not seek exclusivity.”
Alphabet Inc. (NASDAQ:GOOG) ranks seventh on our list of the 30 most popular stocks among hedge funds. According to our database, Alphabet Inc. (NASDAQ:GOOG) had 186 hedge fund portfolios at the end of the third quarter, up from 178 in the previous quarter. In the third quarter of 2025, Alphabet Inc. (NASDAQ: GOOG) achieved its first revenue of $100 billion. While we recognize the potential of Alphabet Inc. (NASDAQ:GOOG) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.