Antipodes Partners published its third-quarter 2026 investor letter for “Antipodes Global Fund.” The letter can be downloaded here. In Q3 2026, markets were volatile but broadly positive, with global equities rising 1.6% as investors shifted between geopolitics, AI enthusiasm, and changing central-bank policy. Energy and technology led, while bonds sold off amid renewed Middle East tensions; oil rose 34.4%, and inflation concerns rose. The Antipodes Global Strategy outperformed its benchmark, driven by exposure to technology, consumer discretionary, and communications, with North America contributing positively. Overall, the portfolio remains well-positioned for market participation to broaden following a period of extreme concentration. Also, check the Fund’s top five holdings to see its best picks for 2026.
In its Q3 2026 investor letter, Antipodes Global Fund highlighted Salesforce, Inc. (NYSE:CRM) as a top contributor for the quarter. Salesforce, Inc. (NYSE:CRM) is a cloud computing company that offers Customer Relationship Management (CRM) technology that brings companies and customers together. On October 26, 2026, Salesforce, Inc. (NYSE:CRM) closed at $247.61 per share. Over the past month, Salesforce, Inc. returned 9.90%, and its shares are down 2.62% over the past year. Salesforce, Inc. (NYSE:CRM) has a market capitalization of $203.78 billion with a 52-week trading range between $146.32 and $ 269.11.
Antipodes Global Fund stated the following regarding Salesforce, Inc. (NYSE:CRM) in its Q3 2026 investor letter:
“Salesforce, Inc. (NYSE:CRM) rallied following stronger-than-expected Q2 results and upgraded FY2027 guidance. Revenue increased 11% year-on-year, while annual recurring revenue from Agentforce exceeded $1.5 billion, reinforcing evidence that generative AI is augmenting rather than displacing Salesforce’s franchise. The expanded Anthropic partnership and launch of “Claudeforce” further strengthened the AI narrative. Improving order growth and historically low customer attrition alleviated concerns about structural disruption in SaaS, further buoying sentiment.”
Salesforce, Inc. (NYSE:CRM) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 99 hedge fund portfolios held Salesforce, Inc. (NYSE:CRM) at the end of the second quarter, which was 101 in the previous quarter. While we acknowledge the risk and potential of Salesforce, Inc. (NYSE:CRM) as an investment, we believe certain AI infrastructure stocks offer far stronger long-term potential at a much more attractive entry point. If you are looking for an AI stock more promising than CRM that operates as a critical AI tollbooth and stands as the most important company in the world, check out our report about thismust-own AI stock.
