Third Quarter 2025: Shopify Inc. Stands Out in Asset Management

Aristotle Atlantic Partners, LLC published the investment letter for the Closed Growth Strategy for the third quarter of 2025. During this period, the U.S. stock market made significant gains, with the S&P 500 Index increasing by 8.12%. Bonds also saw an uptick, with the Bloomberg U.S. Aggregate Bond Index appreciating by 2.03%.

Aristotle Atlantic addressed market evaluation, quarterly performance, and attribution analysis in the letter. The Closed Growth Strategy delivered a net return of 9.61% excluding fees and a gross return of 9.76%, whereas the Russell 1000 Growth Index achieved a return of 10.51%. It was noted that security selection led to relatively weak performance for the fund during the quarter.

In the third quarter letter, stocks like Shopify Inc. (NASDAQ:SHOP) stood out. Shopify Inc. (NASDAQ:SHOP) is a commerce technology company that provides a cloud-based platform enabling businesses to set up, scale, market, and manage their operations. While the one-month return for Shopify Inc. (NASDAQ:SHOP) shares was -11.34%, it recorded a 37.93% increase over the past 52 weeks. On November 14, 2025, Shopify Inc. (NASDAQ:SHOP) shares were valued at $146.04 per share, with a market capitalization of $187.593 billion.

The letter included the following evaluation of Shopify Inc. (NASDAQ:SHOP): 'Shopify Inc. is a global commerce technology company that offers a comprehensive and multi-channel platform aiming to make commerce better for businesses of all sizes. The company aims to enhance the consumer shopping experience and simplify merchant operations by providing reliable tools and services, making commerce better for everyone. Shopify’s business model incorporates subscription-based solutions and merchant success-driven solutions, supporting millions of businesses in more than 175 countries worldwide.'

The investor letter also noted that Shopify Inc. (NASDAQ:SHOP) shares did not rank among the top 30 most popular stocks among hedge funds. According to our database, 69 hedge funds held shares of Shopify Inc. (NASDAQ:SHOP) at the end of the second quarter, down from 77 in the previous quarter. In the third quarter of 2025, Shopify Inc. reported a year-over-year revenue increase of 32%. When considering Shopify Inc. as an investment, we believe that some artificial intelligence (AI) stocks may offer greater potential and lower risk. If you are looking for an extremely undervalued AI stock in the market, please check our free report on this stock, which stands to benefit significantly from the Trump-era tariffs and domestic manufacturing trends.