Enterprise AI Adoption and CoCo Agent Expansion Drive Snowflake’s (SNOW) Growth Soumya Eswaran Wed, October 7, 2026 at 12:05 PM EDT 3 min read V +0.74% NVDA -0.97% MELI +0.59% CRWD -4.15% SNOW +0.45% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Artisan Partners, an investment management company, released its third-quarter 2026 investor letter for the "Artisan Developing World Fund". The letter can be downloaded here. The Artisan Developing World Fund (Investor Class) returned 3.50% in the quarter ending September 30, 2026, outperforming the MSCI Emerging Markets Index's -0.37%. Since June 30, 2015, its cumulative returns have been 172.0% compared to the Index's 128.8%. The quarter saw heightened Middle Eastern conflict, leading to inflation pressures and a selloff in long-dated bonds across the US, Japan, and Europe. This climate pressured markets, particularly in Korea, where the MSCI Korea Index fell significantly before rebounding, while Brazil's market stood out with an 8.18% rise. India's economy appears resilient despite challenges, bolstered by reforms and foreign currency schemes, while consumer wealth is growing significantly. A handful of outsized winners—led by NVIDIA, MercadoLibre, Sea, Visa, and CrowdStrike—have significantly driven cumulative portfolio returns. To capture the sustained compounding of these market leaders while prioritizing portfolio permanence, the strategy expands diversification across correlation stocks to optimize stability through market volatility. Also, check the fund's top five holdings to see its best picks in 2026.
In its Q3 2026 investor letter, the Artisan Developing World Fund highlighted Snowflake Inc. (NYSE:SNOW), a cloud-based data platform company that enables customers to unify, manage, and collaborate on data across multiple cloud providers. Snowflake Inc. (NYSE:SNOW) contributed positively to overall performance during the quarter. On October 06, 2026, Snowflake Inc. (NYSE:SNOW) closed at $335.95, with a $118.83 billion market capitalization. Snowflake Inc. (NYSE:SNOW) posted a 118.82% YTD gain, trading within a 52-week range of $118.30 to $384.56.
Artisan Developing World Fund stated the following regarding Snowflake Inc. (NYSE:SNOW) in its Q3 2026 investor letter:
"Top contributors to performance for the quarter included US data center software provider Snowflake Inc. (NYSE:SNOW). Snowflake benefited from continued demand acceleration as customers increasingly leverage the company as a core part of their AI and data strategies, and as the company's CoCo agent proliferates in enterprises."
Snowflake Inc. (NYSE:SNOW) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. According to our database, 103 hedge fund portfolios held Snowflake Inc. (NYSE:SNOW) at the end of the second quarter, compared to 80 in the previous quarter. While we acknowledge the potential of Snowflake Inc. (NYSE:SNOW) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In another article, we discussed Snowflake Inc. (NYSE:SNOW) and shared a list of best cloud computing stocks to buy according to billionaires. In addition, please check out our hedge fund investor letters Q3 2026 page for more investor letters from hedge funds and other leading investors.
This article is originally published at Insider Monkey.
