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 Raymond James Financial, Inc. (NYSE:RJF). Raymond James Financial, Inc. (NYSE:RJF) is a US-based diversified financial services company that offers private client group, capital markets, asset management, banking, and other services. On April 14, 2026, Raymond James Financial, Inc. (NYSE:RJF) closed at $153.23 per share. One-month return of Raymond James Financial, Inc. (NYSE:RJF) was 7.65%, and its shares gained 15.93% over the past 52 weeks. Raymond James Financial, Inc. (NYSE:RJF) has a market capitalization of $30.26 billion.
Oakmark Fund stated the following regarding Raymond James Financial, Inc. (NYSE:RJF) in its Q1 2026 investor letter:
“Raymond James Financial, Inc. (NYSE:RJF) is a diversified financial services firm focused primarily on providing wealth management services to financial advisors and their clients. Over time, the firm has been steadily gaining market share within the large, fragmented, and growing wealth management industry. This has contributed to strong fundamental performance, with earnings per share growing at a mid-teens rate over the last decade. We believe Raymond James is well-positioned to continue attracting financial advisors to their platform due to their differentiated culture, leading technology, and flexible affiliation models. Business quality is also underappreciated in our view, as low advisor churn and a shift toward fee-based revenue make growth more predictable over time. We were able to initiate a position at a low-teens P/E multiple, which represented a discount to our estimate of intrinsic value.”
Raymond James Financial, Inc. (NYSE:RJF) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 39 hedge fund portfolios held Raymond James Financial, Inc. (NYSE:RJF) at the end of the fourth quarter, up from 37 in the previous quarter. While we acknowledge the risk and potential of Raymond James Financial, Inc. (NYSE:RJF) 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 Raymond James Financial, Inc. (NYSE:RJF) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Raymond James Financial, Inc. (NYSE:RJF) and shared the list of best asset management stocks to buy. 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.
