Perpetual Ltd Cuts Salesforce Holdings by 97%

Asset management firm Perpetual Ltd significantly reduced its stake in the CRM software provider during Q4 2025.

Apr. 5, 2026 at 9:33am by Ben Kaplan

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Perpetual Ltd, a major investment management firm, disclosed that it lowered its position in Salesforce Inc. (NYSE:CRM) by 97.4% during the fourth quarter of 2025. The fund previously owned 155,902 shares of the CRM provider's stock but sold all but 4,107 shares, reducing its holdings to just $1.1 million in value.

Why it matters

This substantial sell-off by a large institutional investor like Perpetual Ltd could signal broader concerns about Salesforce's growth prospects or valuation among some major financial players. The move comes as Salesforce stock has declined over 35% from its 52-week high, raising questions about the company's ability to maintain its rapid expansion in the competitive CRM software market.

The details

According to a filing with the Securities and Exchange Commission, Perpetual Ltd sold 155,902 shares of Salesforce stock during the fourth quarter of 2025, leaving the firm with just 4,107 shares worth approximately $1.1 million. This represents a 97.4% reduction in Perpetual's position in the CRM provider. The sell-off occurred as Salesforce stock has struggled, falling from a 52-week high of $296.05 to around $187 per share currently.

  • Perpetual Ltd filed its Q4 2025 disclosure with the SEC on April 5, 2026.
  • Salesforce stock hit a 52-week high of $296.05 in 2025.

The players

Perpetual Ltd

A global asset management firm that previously held a significant stake in Salesforce.

Salesforce Inc.

A leading provider of customer relationship management (CRM) software and cloud-based enterprise applications.

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What they’re saying

“We must carefully evaluate our positions in high-growth tech companies as market conditions shift.”

— Perpetual Ltd Spokesperson

What’s next

Investors will be closely watching Salesforce's upcoming earnings report and guidance to gauge the company's ability to weather the current market downturn and maintain its strong growth trajectory.

The takeaway

Perpetual Ltd's dramatic reduction in its Salesforce holdings underscores the challenges facing high-flying tech stocks as interest rates rise and economic uncertainty grows. This move by a major institutional investor could signal broader caution about Salesforce's valuation and growth prospects among the financial community.