Antipodes Partners published its “Antipodes Global Strategy” second-quarter 2026 investor letter, highlighting the key performance stocks, portfolio changes, and the market outlook. A copy of the letter can be downloaded here. The second quarter of 2026 delivered one of the strongest equity market recoveries in recent history, as global equities gained 14.9% in US dollar terms. Renewed enthusiasm for artificial intelligence, strong corporate earnings, and easing tensions with Iran supported the rebound, while growth stocks outperformed value and emerging markets led gains, particularly Korea and Taiwan. The Antipodes Global Value Strategy underperformed its benchmark during the quarter and over the 12 months to June 30, 2026, as returns became concentrated in a narrow group of semiconductor and hardware stocks. Consumer staples and consumer discretionary holdings supported performance, while information technology, software, and internet exposure detracted. The firm remains cautious on expensive memory companies because pricing and supply remain cyclical despite AI demand. The Strategy continues to favor valued infrastructure, specialty semiconductors, resilient software, and quality businesses. For insights into its key selections for 2026, please review the Strategy’s top five holdings.
In its second-quarter 2026 investor letter, Antipodes Global Value Strategy highlighted Sanofi (NASDAQ:SNY). Sanofi (NASDAQ:SNY) is a French pharmaceutical and healthcare company that engages in the research, development, manufacture, and marketing of therapeutic solutions. On August 5, 2026, Sanofi (NASDAQ:SNY) closed at $42.78 per share. The one-month return of Sanofi (NASDAQ:SNY) was -2.55%, and its shares lost 9.80% over the past 52 weeks. Sanofi (NASDAQ:SNY) has a market capitalization of $102.51 billion.
Antipodes Global Value Strategy stated the following regarding Sanofi (NASDAQ:SNY) in its Q2 2026 investor letter:
“Sanofi (NASDAQ:SNY) (Exit): We exited Sanofi following a series of pipeline disappointments, which impacted our confidence in Sanofi’s ability to manage the Dupixent loss of exclusivity. Any R&D turnaround is likely to be a multi-year endeavour relying on business development, for which the company’s recent track record has been poor.”
Sanofi (NASDAQ:SNY) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Sanofi (NASDAQ:SNY) at the end of the first quarter which was 32 in the previous quarter. While we acknowledge the risk and potential of Sanofi (NASDAQ:SNY) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Sanofi (NASDAQ:SNY) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Sanofi (NASDAQ:SNY) and shared the list best dividend stocks yielding at least 5% to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
