Montaka Global Investments, an investment management company, released its second-quarter 2026 investor letter. A copy of the update is available to download here. Montaka manages a concentrated portfolio of high–conviction, long-term, competitively advantaged businesses bought when prices are attractive. While it delivered positive returns in the June quarter, its 12-month performance was largely negative due to declines in the March quarter amid the ‘SaaSpocalypse’, yet the underlying businesses performed well. Montaka’s strategy focuses on owning businesses that grow earnings in large markets, which struggled against short-term bottleneck trades that gained popularity. However, Montaka aims for long-term excess returns above market indices, anticipating that current mispricing will eventually correct. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Montaka Global Investments highlighted Salesforce, Inc. (NYSE:CRM). Salesforce, Inc. (NYSE:CRM) is a cloud computing company that offers Customer Relationship Management (CRM) technology that brings companies and customers together. On July 22, 2026, Salesforce, Inc. (NYSE:CRM) closed at $163.00 per share. One-month return of Salesforce, Inc. (NYSE:CRM) was 3.52%, and its shares lost 41.92% over the past 52 weeks. Salesforce, Inc. (NYSE:CRM) has a market capitalization of $133.5 billion.
Montaka Global Investments stated the following regarding Salesforce, Inc. (NYSE:CRM) in its Q2 2026 investor update:
“The It’s Not About the SaaS: Why the market is wrong about Salesforce, Inc. (NYSE:CRM): Since the start of the recent SaaS selloff – which we explored in detail in Montaka’s recent whitepaper – Salesforce’s share price has halved. The market is now pricing in something like obsolescence for the world’s dominant customer relationship management (CRM) platform.
This, in our view, represents a significant investment opportunity. The market’s concern is two-fold. First, that AI makes software trivially cheap and easy to build – rendering vendors like Salesforce redundant. Second, that agents don’t need software interfaces at all – they can interact directly with data and systems, making seat-based licences obsolete.
Both arguments make the same mistake: they treat Salesforce as just a SaaS vendor – when in reality, the business’ competitive advantages have very little to do with its code. Salesforce is the trusted layer through which AI can be deployed safely and usefully into the world’s enterprises. Through that lens, a very different – and far more valuable – business comes into focus…” (Click here to read the full text)
Salesforce, Inc. (NYSE:CRM) ranks 28 on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 101 hedge fund portfolios held Salesforce, Inc. (NYSE:CRM) at the end of the first quarter, compared to 115 in the previous quarter. While we acknowledge the risk and potential of Salesforce, Inc. (NYSE:CRM) 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 Salesforce, Inc. (NYSE:CRM) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Salesforce, Inc. (NYSE:CRM) and shared L1 Capital International Fund’s insights on the company. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.
Disclosure: None. This article is originally published at Insider Monkey.
