What smart money is saying about ServiceNow
11 funds in our archive have pitched ServiceNow — most recently Acatis in September 2026.
ServiceNow, Inc. specializes in delivering cloud-based solutions designed to streamline and automate critical business services for organizations across the globe. Its flagship "Now Platform" serves as the foundation, leveraging technologies such as workflow automation, artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA). This platform also incorporates robust features like performance analytics, electronic service catalogs, configuration management systems, data benchmarking, encryption capabilities, and various collaboration and development tools. ServiceNow offers a comprehensive suite of applications built on this platform, catering to diverse enterprise needs. Key offerings include IT Service Management (ITSM), which streamlines support for employees, customers, and partners; IT Business Management (ITBM); IT Operations Management (ITOM), designed to integrate and manage both physical and cloud-based IT infrastructure; and IT Asset Management (ITAM) for automating asset lifecycles. Its Security Operations solution facilitates seamless integration between internal systems and third-party security tools. Beyond IT, the company provides solutions for Governance, Risk, and Compliance (GRC) to enhance organizational resilience, along with tools for Human Resources, Legal, and general workplace service delivery, including dedicated safe workplace applications. Other specialized applications cover Customer Service Management (CSM) and Field Service Management (FSM). To further extend functionality, ServiceNow offers App Engine for custom development and IntegrationHub to connect workflows across various applications. The company also provides a range of professional services, industry-specific solutions, and comprehensive customer support. ServiceNow's diverse client base spans critical sectors such as government, financial services, healthcare, telecommunications, manufacturing, and education, alongside various IT services, technology, oil and gas, and consumer product industries. The company reaches these customers through a combination of its direct sales force and a network of resale partners. Notably, a strategic alliance with Celonis assists clients in pinpointing and prioritizing business processes ripe for automation. Established in 2004 and headquartered in Santa Clara, California, the company originally operated as Service-now.com before rebranding to ServiceNow, Inc. in May 2012.
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Position history
Between Q1 2026 and Q3 2026, 29 fund letters reported a position in ServiceNow — 9 opened or added to the position, 10 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 4 | 0 | 0 | 1 |
| Q2 2026 | 23 | 9 | 9 | 5 |
| Q1 2026 | 2 | 0 | 1 | 5 |
Fund activity · 29 positions · 19 moves
- August 2026
“The biggest contributor to performance during the month was ServiceNow (+30.4%), which continued to re-rate following the strong quarterly result we covered in last month's letter.”
ServiceNow - HoldsBlueBox Global Technology FundAugust 2026
Listed in BlueBox Global Technology Fund’s reported holdings.
ServiceNow - July 2026
“US-based software company ServiceNow delivered another impressive result that once again came in ahead of both its own guidance and analyst expectations.”
ServiceNow - July 2026
“Portfolio review The Fund returned -1.5% in July in what was a challenging environment as markets were whipsawed by sentiment ahead of the Q2 earnings season. AI platform software was the strongest area of the portfolio, led by long names such as Microsoft, Snowflake, and ServiceNow.”
ServiceNow - June 2026
“Declines in ServiceNow, Microsoft, KKR, Salesforce and Meta Platforms were among the largest detractors from portfolio performance over the 12 months.”
ServiceNow - June 2026
“Finally, we added to ServiceNow.”
ServiceNow - ExitedBaron Opportunity FundJune 2026
“Top net sales for the quarter Quarter End Market Cap or Market Cap When Sold ($B) Net Amount Sold ($M) CoStar Group, Inc. 13.1 15.3 ServiceNow, Inc. 91.0 10.5 Datadog, Inc. 92.7 7.9 Zscaler, Inc. 19.0 6.8 Via Transportation, Inc. 1.4 5.5 We exited our position in ServiceNow, Inc. , which was a successful long-term investment for the Fund, and redeployed the capital into the software and digital services names discussed in the Review and Outlook section above.”
ServiceNow - AddedVision Capital FundJune 2026
“We had strong inflows in early Q2 from our largest investors (us included) seeking to take advantage of buying opportunities. We deployed some of that new capital to 10 of our existing positions (in alphabetical order): Cloudflare (NET), MercadoLibre (MELI), Meta (META), Nu (NU), Palantir (PLTR), Pro Medicus (PME), Sea Limited (SE), ServiceNow (NOW), Shopify (SHOP), and Zscaler (ZS).”
ServiceNow - ExitedMayTech Global Investments Global Growth StrategyJune 2026
“We exited our position in ServiceNow as rapid advances in artificial intelligence have increased the competitive risks facing the company.”
ServiceNow - June 2026
“We eliminated holdings in Boston Scientific Corp., Intuit Inc., Münchener Rückversicherungs-Gesellschaft AG, ServiceNow Inc., and Waste Connections Inc.”
ServiceNow - New positionVulcan Value Partners Quarterly FundJune 2026
“We purchased three new positions during the quarter: Veeva Systems Inc., Equifax Inc., and ServiceNow Inc.”
ServiceNow - June 2026
“Top net sales for the quarter Net Amount Sold ($M) CoStar Group, Inc. 15.3 ServiceNow, Inc. 10.5 Datadog, Inc. 7.9 Zscaler, Inc. 6.8 Via Transportation, Inc. 5.5 We exited our position in ServiceNow, Inc., which was a successful long-term investment for the Strategy, and redeployed the capital into the software and digital services names discussed in the Review and Outlook section above.”
ServiceNow - June 2026
“We sold our positions in ServiceNow Inc (NOW) and Veralto Corp (VLTO) during the second quarter.”
ServiceNow - June 2026
“We eliminated holdings in Boston Scientific Corp., Intuit Inc., Münchener Rückversicherungs-Gesellschaft AG, ServiceNow Inc., and Waste Connections Inc.”
ServiceNow - HoldsMontaka Global FundJune 2026
“Performance Deconstruction While Montaka delivered positive returns in the June quarter, performance over the last 12-month period was materially negative – driven overwhelmingly by the declines experienced in the March quarter related to the ‘SaaSpocalypse’ (the selloff in software and AI–exposed names). We shared our detailed analysis of this selloff, and why we believe many competitively advantaged businesses have been drastically oversold in our most recent whitepaper: Where Advantages Lie (and Lie) in the Age of AI . Declines in ServiceNow, Microsoft, KKR, Salesforce and Meta Platforms were among the largest detractors from portfolio performance over the 12 months.”
ServiceNow - June 2026
“We added here as well during the quarter.”
ServiceNow “Portfolio Changes We initiated new positions in Equinix and Arista Networks and exited our positions in Aon and Intuit. Positions in Microsoft, Waste Management, Netflix, Ecolab, and Yum! Brands were added to on weakness while also adding to our positions in Alphabet, Apple, Nvidia, and ServiceNow given their strong long-term growth prospects.”
ServiceNow- AddedBCV Asset Management Antares Total Return StrategiesJune 2026
“This quarter, we rotated out of Thomson Reuters to fund a larger position in ServiceNow.”
ServiceNow - June 2026
“ServiceNow (-16% over our brief residual holding period) illustrates why our traditional enterprise software exposure now rounds to zero. We moved the position to our watchlist last quarter and completed the exit in April, the month the shares fell c.17% on results day.”
ServiceNow - HoldsAkre Focus ETFJune 2026
“Recent examples of AI adoption, monetization, or lack of AI-related disruption among our portfolio companies include: • CCC Intelligent Solutions (CCC): $120 million annualized revenue run-rate (ARR) from its Emerging Solutions’ products of which AI is the largest contributor. The company’s Emerging Solutions revenue grew 50% year-over-year. • Salesforce (CRM): Agentforce + Data 360 (key AI products) ARR up 225% to $3.4 billion in Q1 (119% organic). • ServiceNow (NOW): raised 2026 AI revenue guidance by 50% from the prior quarter; announced $300 million in cost savings from internal AI adoption; gross dollar retention steady at 98%.”
ServiceNow - June 2026
“Software T scores started to move into positive territory in May, allowing us to rebuild our long exposure in the Platform Software basket. ServiceNow and Snowflake were added on the long side, reflecting our view that high-quality software platforms with strong positioning in workflow automation, data and security remain well placed as AI adoption broadens.”
ServiceNow - TrimmedLiontrust Global Alpha FundJune 2026
“These buys were funded by sales of ServiceNow and Trimble, reducing overall software and long-duration growth, and by exiting BAE Systems and Rolls-Royce which dials back our geopolitically sensitive exposure.”
ServiceNow - June 2026
“Conversely, we sold our position in enterprise software company ServiceNow following a deterioration in fundamental factors.”
ServiceNow “As part of our ongoing dialogue with ServiceNow, we met with President and Chief Legal Officer Hossein Nowbar and members of the company's legal, compensation and, human resources teams.”
ServiceNow- New positionVulcan Value Partners Investment StrategiesJune 2026
“We purchased three new positions during the quarter: Veeva Systems Inc., Equifax Inc., and ServiceNow Inc.”
ServiceNow - May 2026
“At the portfolio level, the biggest contributor to performance during the month was ServiceNow (+40.7%), which performed well as the market begun to adopt a more realistic view of the company's ability to benefit from AI agents rather than be disrupted by them.”
ServiceNow - May 2026
“Portfolio activity (Q2/2026) In Q2 we continued to concentrate our software holdings on companies and market segments that we consider long-term winners from AI. While some investors had worried that artificial-intelligence tools would displace traditional cybersecurity players, we have been of the opposite opinion for some time. The strong results reported by leading Cyber Security players and their enlisting as key partners to the Glasswing project by Anthropic Initiation/Increase SAP Increase position Booking Increase position Zscaler Increase position ServiceNow Increase position Synopsys Increase position Exit/Reduction Adobe Exit position Intuit Exit position Siemens Healthineers Exit position BYD Exit position Salesforce Exit position Quarterly Commentary – Growth Equity Strategy | June 2026 Emerald Wealth Partners AG |Weinbergstrasse 100 |CH-8802 Kilchberg |Switzerland Page 2 killed those fears and triggered a steep rally in the sub-sector. We will maintain our overweight in Cyber Security,”
ServiceNow - ExitedLarge-Cap GrowthMarch 2026
“ We exited ServiceNow (NOW) as part of a broader effort to refine our positioning within software, where evolving competitive dynamics and the pace of AI innovation have increased uncertainty across the sector.”
ServiceNow - March 2026
“ServiceNow reported first quarter 2026 results after the close of the period that demonstrated this directly: subscription revenue grew 22% year-over-year, customers spending over $1 million annually on its AI product Now Assist grew over 130% year-over-year, and the company raised its full-year 3 revenue guidance.”
ServiceNow
Also mentioned · 5
These funds discuss ServiceNow — as a competitor, benchmark or comparable — without disclosing a position in it.
- August 2026
Named in a table in Bell Global Equities Fund Wholesale Class’s letter.
ServiceNow - MentionedGuinness Global Innovators FundJune 2026
Named in a table in Guinness Global Innovators Fund’s letter.
ServiceNow - June 2026
“The Bristlemoon Global Fund returned 1.9 percent for the June 2026 quarter, with a -2.7 percent return for the month of June 2026, net of fees. Key performance contributors in the month of June included ASML, PAR Technology Corporation, and Baltic Classifieds Group. Notable performance detractors over the same period included AppLovin, Hemnet, and ServiceNow.”
ServiceNow - MentionedBristlemoon Capital Global FundJune 2026
“Notable performance detractors over the same period included AppLovin, Hemnet, and ServiceNow.”
ServiceNow - June 2026
“As part of our ongoing dialogue with ServiceNow, we met with President and Chief Legal Officer Hossein Nowbar and members of the company's legal, compensation and, human resources teams.”
ServiceNow
Fund coverage · 11 theses
- AcatisSeptember 2026
ServiceNow is a high-growth, cash-generative platform whose valuation became attractive and where AI is viewed as an added growth driver.
Read the full thesis - BCV Asset Management Antares Total Return StrategiesJune 2026
ServiceNow automates enterprise workflows with high renewal rates, strong long-term growth, and a durable AI-enabled platform.
Read the full thesis ServiceNow combines mission-critical workflow software, high switching costs, AI monetization, and strong recurring growth.
Read the full thesis- Emerald Focused Equity StrategyJune 2026
ServiceNow provides enterprise workflow software and benefits from high switching costs and AI monetization opportunities.
Read the full thesis - Vulcan Value Partners Quarterly FundJune 2026
ServiceNow automates enterprise workflows across departments and industries, with strong growth, AI-enhanced products, and durable competitive advantages.
Read the full thesis - Emerald Wealth Partners AGMay 2026
ServiceNow is positioned as the enterprise AI orchestration layer, with AI-driven productivity savings and a path to doubling subscription revenue by 2030.
Read the full thesis - Polen Focus GrowthMarch 2026
ServiceNow is a mission-critical workflow software company with sticky customers, proprietary AI tools, and strong long-term growth potential.
Read the full thesis - Emerald Growth Equity StrategyMarch 2026
ServiceNow is a deeply embedded IT platform that should benefit from AI adoption and expanding security use cases.
Read the full thesis ServiceNow, Inc. runs enterprise workflow automation and should benefit from AI embedded into its platform, supported by strong growth and cash generation.
Read the full thesis- Nightview CapitalMarch 2026
ServiceNow is a mission-critical enterprise workflow platform with deep switching costs and AI-driven automation that strengthens its flywheel and customer expansion.
Read the full thesis - Lakehouse Global Growth FundFebruary 2026
ServiceNow is a mission-critical enterprise workflow platform monetizing Gen-AI with strong growth, high renewals, and an attractive valuation.
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