Hardman Johnston Global Advisors, an investment management company, released its “Hardman Johnston Global Equity Strategy” investor letter for the third quarter of 2025. A copy of the letter can be downloaded here. The portfolio underperformed in the quarter due to stock selection. The composite returned 5.02%, net of fees, compared to 7.62% for the MSCI AC World Net Index. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its third-quarter 2025 investor letter, Hardman Johnston Global Equity Strategy highlighted stocks such as Atlassian Corporation (NASDAQ:TEAM). Atlassian Corporation (NASDAQ:TEAM) is a leading collaboration software provider that enables organizations to connect all teams through a system of work that unlocks productivity at scale. The one-month return of Atlassian Corporation (NASDAQ:TEAM) was -8.84%, and its shares lost 37.43% of their value over the last 52 weeks. On December 24, 2025, Atlassian Corporation (NASDAQ:TEAM) stock closed at $161.12 per share, with a market capitalization of $42.412 billion.
Hardman Johnston Global Equity Strategy stated the following regarding Atlassian Corporation (NASDAQ:TEAM) in its third quarter 2025 investor letter:
“The top sector detractors from relative performance during the quarter were Information Technology and Health Care. Within Information Technology, Atlassian Corporation (NASDAQ:TEAM) underperformed during the quarter due to multiple contraction, despite strong near-term fundamentals. The company exceeded expectations in its FY4Q results and provided a conservative FY25 guide, supporting confidence in its ability to sustain +20% topline growth. The stock faced additional pressure when OpenAI released GPT-5, unveiling an internal SaaS tool for automating enterprise workloads, which triggered a broader negative reaction across the SaaS sector. Valuation derating reflects uncertainty over the role of application software in the era of generative AI, particularly in DevOps where AI-assisted coding shows clear returns. It has been a challenging run for Atlassian’s multiple, but the stock now trades in rare territory for a business that has idiosyncratic drivers like DC-to-Cloud migration and platform cross sell opportunities that can sustainably drive 20% sales growth.”
Atlassian Corporation (NASDAQ:TEAM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 64 hedge fund portfolios held Atlassian Corporation (NASDAQ:TEAM) at the end of the second quarter, compared to 82 in the previous quarter. In the first quarter of fiscal 2026, Atlassian Corporation’s (NASDAQ:TEAM) revenue grew 21% year-over-year to $1.4 billion. While we acknowledge the potential of Atlassian Corporation (NASDAQ:TEAM) 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 also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
