What smart money is saying about Procore Technologies, Inc.
2 funds in our archive have pitched Procore Technologies, Inc., most recently Baron Real Estate Fund in September 2026.
Procore Technologies, Inc. delivers a comprehensive, cloud-based platform designed for construction management, along with accompanying software solutions, serving clients both in the United States and globally. This platform empowers a diverse range of stakeholders, including property owners, general and specialty contractors, architects, and engineers, to collaborate seamlessly throughout their construction projects. The company's offerings are structured into several key modules: Preconstruction: This module facilitates streamlined collaboration among internal and external parties during the initial project phases, such as planning, budgeting, estimating, bidding, and selecting partners. Project Management: It enables real-time teamwork, secure information storage, design coordination, BIM model clash detection, and regulatory compliance for both jobsite personnel and back-office teams. Resource Management: This tool assists contractors in scheduling, monitoring, and forecasting labor productivity, improving time management, enhancing workforce communication, and optimizing project profitability. Financial Management: It provides customers with detailed visibility into the fiscal health of individual construction projects and their entire portfolios, ensuring unfettered, real-time access to financial data that bridges the gap between field operations and the main office. Procore caters to a broad spectrum of clients, including owners, general contractors, and specialty contractors active across the commercial, residential, industrial, and infrastructure segments of the construction industry. Access to its products is primarily offered through subscriptions, facilitated by its direct sales team. Users can engage with the platform on computers, smartphones, and tablets via any web browser or through its dedicated mobile applications for iOS and Android devices. Procore Technologies, Inc. was founded in 2002 and is headquartered in Carpinteria, California.
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Fund signal · last 12 months
7 lettersToo few moves on Procore Technologies, Inc. yet for a clear signal
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q4 2024 and Q3 2026, 8 fund letters reported a position in Procore Technologies, Inc., with 3 buys (opened or added) and 1 sell (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 3 | 1 | 0 | 1 |
| Q2 2026 | 3 | 1 | 1 | 0 |
| Q4 2025 | 1 | 0 | 0 | 0 |
| Q3 2025 | 1 | 1 | 0 | 0 |
| Q4 2024 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 8 positions · 4 moves
- New positionDiamond Hill Long-Short FundSeptember 2026
“• We initiated a position in Procore Technologies, a leading provider of construction management software, given its attractive growth opportunities and improving profitability outlook.”
Procore Technologies, Inc. - September 2026
“Top Contributors and Detractors Top contributors to performance for the quarter Quarter End Market Cap ($B) Contribution to Return (%) Airbnb, Inc. 96.2 0.14 Mohawk Industries, Inc. 7.5 0.06 Procore Technologies, Inc. 7.9 0.05 Welltower Inc. 165.9 0.05 James Hardie Industries plc 14.7 0.02 Shares of Airbnb, Inc. performed well in the quarter following strong second quarter results that exceeded expectations and a confident outlook for sustained growth acceleration. Airbnb operates a global marketplace connecting travelers with unique accommodations and experiences across over 220 countries and regions. Top-line growth was in the high teens with cash flow growth exceeding 20% in the quarter. With a dynamic pricing rollout that enables hosts to use real-time demand and market data to optimize occupancy and nightly rates, a boutique hotels platform buildout, and a forthcoming loyalty program representing meaningful untapped opportunities, we believe Airbnb is in the early stages of a durable, multi-year growth re-acceleration. Mohawk Industries, Inc. is the world's largest manufacturer of flooring products, including carpet, tile, laminate, wood, luxury vinyl, and more. The company serves residential and commercial customers across the U.S., Europe, Latin America, and Asia-Pacific. Shares of Mohawk contributed to performance this quarter, driven by optimism around the company's leadership transition as well as strong second quarter earnings results. We have taken a favorable view that new CEO Paul De Cock will bring several positive changes to the business, including a sharper growth strategy, more disciplined capital allocation, and improved messaging to investors and sell-side analysts which we believe should help build investor confidence. Second quarter results beat expectations, driven by better-than-anticipated volumes, strong product placements and stocking at retailers, and outperformance in the commercial channel, all of which point to momentum building in the business. We are shareholders in Mohawk and believe that, with valuation at the low end of the industry peer group, effective execution of the new leadership strategy can help close the valuation gap and drive strong share price performance. Shares of Procore Technologies, Inc., a leading provider of cloud- based construction management software for general contractors and real estate owners, contributed to performance. The company delivered its strongest quarter in over two years, with revenue growth accelerating to 16% and current remaining performance obligations, its key forward-looking bookings metric, growing 22% year-over-year. Results were driven by large enterprise general contractors and owner wins, with notable strength in the data center construction segment. Procore now runs 9 of the 10 largest North American sites. Procore’s new management team is also making strong progress on margin improvement, with second quarter operating margins improving by nearly 800 basis points year-over-year. The company raised its full-year 2026 revenue, margin, and free cash flow guidance, while issuing preliminary 2027 operating margin guidance that was well ahead of expectations. We continue to hold Procore and retain conviction.”
Procore Technologies, Inc. - HoldsSpyglass Growth StrategySeptember 2026
“Procore Technologies, Inc. (PCOR), a provider of cloud-based construction management software, was a top contributor during the third quarter.”
Procore Technologies, Inc. - New positionBaron Real Estate StrategyJune 2026
“Property technology companies The convergence of real estate and technology has given rise to a new category – real estate technology, or proptech. The growth of proptech and the digitization of real estate represent an exciting and promising development. We believe we are in the early stages of a technology-driven investment cycle focused on data and digitization, enabling real estate-related businesses to generate incremental revenue streams and reduce costs. We recently began acquiring shares in Procore Technologies, Inc. , a provider of software solutions to the construction industry, and will elaborate on this company in future investor letters.”
Procore Technologies, Inc. - HoldsSpyglass Growth StrategyJune 2026
“Procore Technologies, Inc. (PCOR), a provider of cloud-based construction management software, was a bottom contributor during the second quarter. Procore’s first-quarter results exceeded consensus expectations for both revenue and earnings. However, we believe Procore was also caught up in the broader selloff across the software sector, with investors seeming to want clear evidence of accelerating growth. As the new management team settles in, we continue to believe Procore's underlying momentum remains intact, supported by a widening data moat and an emerging AI monetization opportunity.”
Procore Technologies, Inc. - June 2026
“Procore Technologies (PCOR) provides cloud-based construction management software. The stock experienced a significant drawdown in the quarter as the broader software industry faced ongoing multiple compression due to market fears surrounding AI coding tools and lower barriers to entry for AI-native software startups. We chose to close our position in the quarter and continued the process of repositioning software weight to the most durable competitive positions and clearest AI beneficiaries we can identify.”
Procore Technologies, Inc. - December 2025
“Procore Technologies, Inc. 3.7%”
Procore Technologies, Inc. - New positionAntipodes Global Value Active ETFSeptember 2025
“We trimmed our longstanding position in Microsoft against strength and initiated a position on Procore, a leading US construction management software used by the largest general contractors, project owners and specialty trades globally.”
Procore Technologies, Inc.
Also mentioned · 1
These funds discuss Procore Technologies, Inc. as a competitor, benchmark or comparable, without disclosing a position in it.
- September 2023
“Q: What are the major trends in VMS single vertical software? Vertical market software: single vertical companies like Procore, Veeva, AppFolio, and Toast have been able to grow to huge sizes in recent years.”
Procore Technologies, Inc.
Fund coverage · 2 theses
- Baron Real Estate FundSeptember 2026
Procore provides cloud construction management software and is viewed as taking share with durable growth, margin improvement, and stickier customers.
Read the full thesis - ConestogaDecember 2024
Procore Technologies, Inc. (PCOR) is a leading cloud-based construction management software company experiencing strong growth and improving operating margins in an underpenetrated market.
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