Investment management firm Nightview Capital recently released its Q1 2026 investor letter. A copy of the letter can be downloaded here. In the first quarter of 2026, market dynamics were driven by national and structural factors. Some concerns about fear of the market are valid; however, the market response was more broad rather than precise. Together, these two forces have created an unpredictable economic environment and compelling buying opportunities. The Nightview Fund holds a concentrated portfolio of high quality stocks. The fund made progress in the first quarter by identifying opportunities. As AI disruption challenges the software sector, the Fund aggressively pivots towards promising business and platform investments. The company believes that disruption is likely to happen at the edge, but AI is no small threat and an opportunity for truly embedded software companies. In addition, please check the top five funds of the Fund to know their best choices in 2026.
In its investor letter for the first quarter of 2026, Nightview Capital highlighted ServiceNow, Inc. (NYSE:NOW) as a newly added position. ServiceNow, Inc. (NYSE:NOW) is a cloud-based software company that provides a platform for automating and managing digital workflows. On April 21, 2026, ServiceNow, Inc. (NYSE:NOW) closed at $100.14 per share. One month return for ServiceNow, Inc. (NYSE:NOW) was -2.83%, and its shares lost 38.39% in the last 52 weeks. ServiceNow, Inc. (NYSE:NOW) has a market capitalization of $104.75 billion.
Nightview Capital says the following about ServiceNow, Inc. (NYSE:NOW) in its Q1 2026 investor letter:
“ServiceNow, Inc. (NYSE: NOW): If you want to understand why we’re working on business software despite the narrative of AI disruption, ServiceNow is a clear demonstration of our thesis.
The platform is, in a literal sense, a workflow engine for large enterprises. It manages IT service requests, HR processes, legal requests, facilities management, and, increasingly, the orchestration of the various departments that large organizations need to operate. About 85% of the Fortune 500 use ServiceNow in some way. The average customer has increased their spending year on year, a pattern that has continued over the years.
Our view is that AI does not threaten this business so much as it accelerates it…” (Click here to read full text)
ServiceNow, Inc. (NYSE:NOW) is ranked 25 on our list of the 40 Most Popular Stocks Among Hedge Funds Entering 2026. According to our database, 118 hedge fund portfolios hold ServiceNow, Inc. (NYSE:NOW) at the end of the fourth quarter, up from 104 in the previous quarter. While we acknowledge the power of ServiceNow, Inc. (NYSE:NOW) as an investment, we believe certain AI stocks offer great potential and carry little downside risk. If you’re looking for an extremely overlooked AI stock that will benefit greatly from the Trump-era costs and sea trend, check out our free report best short term AI stock.
