Antipodes Global Value Strategy Initiated a Position in Procore Technologies (PCOR). Here’s Why

Antipodes Partners recently published its “Antipodes Global Value Strategy” third-quarter 2025 investor letter, highlighting the key performance stocks, portfolio changes, and the market outlook. A copy of the letter can be downloaded here. In the quarter, global equities rose positively, supported by easing trade tensions, excitement around AI, and expectations of rate cuts by the Federal Reserve. Global equities gained +7.6% in USD and +6.4% in AUD, driven by central bank interest rate reductions, new US trade agreements, and strong corporate earnings. The Antipodes Global Value Strategy outperformed the benchmark during this quarter and showed even greater outperformance for the year to date and the 12 months ending September 30, 2025. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its third-quarter 2025 investor letter, Antipodes Global Value Strategy highlighted stocks such as Procore Technologies, Inc. (NYSE:PCOR). Procore Technologies, Inc. (NYSE:PCOR) is a technology company that provides a cloud-based construction management platform and related software products. The one-month return of Procore Technologies, Inc. (NYSE:PCOR) was 7.60%, and its shares gained 8.98% of their value over the last 52 weeks. On November 13, 2025, Procore Technologies, Inc. (NYSE:PCOR) stock closed at $75.36 per share, with a market capitalization of $11.716 billion.

Antipodes Global Value Strategy stated the following regarding Procore Technologies, Inc. (NYSE:PCOR) in its third quarter 2025 investor letter:

“We trimmed our longstanding position in Microsoft against strength and initiated a position on Procore Technologies, Inc. (NYSE:PCOR), a leading US construction management software used by the largest general contractors, project owners and specialty trades globally. Concerns including competition and soft construction demand presented the opportunity to establish a position. Procore continues to see new wins and an expansion in existing contracts given it is over-indexed to non-residential segments such as datacentres, manufacturing and healthcare, despite the macro backdrop. Our analysis suggests Procore can see revenue growth re-accelerate towards high-teens as overall construction demand improves, broader industry digitisation drives technology adoption and its go-to-market ramps to secure greater share in new geographies and segments.”

Procore Technologies, Inc. (NYSE:PCOR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 46 hedge fund portfolios held Procore Technologies, Inc. (NYSE:PCOR) at the end of the second quarter, compared to 53 in the previous quarter. In Q3 2025, Procore Technologies, Inc. (NYSE:PCOR) reported revenue of $339 million, marking 14.5% year-over-year increase. While we acknowledge the risk and potential of Procore Technologies, Inc. (NYSE:PCOR) 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 Procore Technologies, Inc. (NYSE:PCOR) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In addition, please check out our hedge fund investor letters Q3 2025 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.