Oakmark Funds, advised by Harris Associates, released its “Oakmark Fund” first-quarter 2026 investor letter. The objective of the fund is to deliver capital appreciation by investing in diverse large-cap US companies. A copy of the letter can be downloaded here. In the quarter, the Fund (investor class) outperformed the S&P 500 Index, returning -2.47% vs. -4.33% for the index. In addition, you can check the Fund’s top five holdings to determine its best picks for 2026.
In its first-quarter 2026 investor letter, Oakmark Fund highlighted stocks like Accenture plc (NYSE:ACN). Headquartered in Dublin, Ireland, Accenture plc (NYSE:ACN) is a professional services and technology services company. On April 13, 2026, Accenture plc (NYSE:ACN) closed at $191.95 per share. One-month return of Accenture plc (NYSE:ACN) was -3.85%, and its shares lost 33.83% over the past 52 weeks. Accenture plc (NYSE:ACN) has a market capitalization of $117.75 billion.
Oakmark Fund stated the following regarding Accenture plc (NYSE:ACN) in its Q1 2026 investor letter:
“Accenture plc (NYSE:ACN) is a global leader in consulting and outsourced IT services. The company benefits from unmatched scale, being nearly three times as large as the next three public IT services companies combined. We think it is well-positioned for future growth as it is deeply embedded in large enterprises’ workflows, with its top 300 clients spending over $100 mil lion annually. Furthermore, we believe it is poised to capitalize on the ongoing enterprise cloud transition and the secular growth in enterprise technology spending. Despite these strong fundamentals, the stock is trading at its lowest P/E multiple since 2015 due to what we view as misguided AI disruption fears, creating the opportunity to purchase shares at a sizable discount to our estimate of intrinsic value.”
Accenture plc (NYSE:ACN) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 71 hedge fund portfolios held Accenture plc (NYSE:ACN) at the end of the fourth quarter, up from 66 in the previous quarter. In the first quarter of fiscal 2026, Accenture plc (NYSE:ACN) reported revenues of $18.7 billion, reflecting a 5% increase in local currency and a 6% increase in USD. While we acknowledge the risk and potential of Accenture plc (NYSE:ACN) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Accenture plc (NYSE:ACN) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Accenture plc (NYSE:ACN) and shared the list of best long term growth stocks to invest in according to billionaires. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
