Harris Oakmark recently released its second-quarter 2026 investor letter for the “Oakmark Global Fund”. A copy of the letter can be downloaded here. It is a non-diversified fund that focuses on long-term capital appreciation by investing in common stocks of U.S. and non-U.S. companies. In the second quarter, the fund (Investor Class) delivered a return of 7.89%, lagging the benchmark, the MSCI World Index’s 13.76% return. Energy and industrials were the top performance contributors at the sector level, while health care and consumer discretionary detracted from performance. AI remains a key market theme. The firm focuses on evaluating companies based on their competitive advantages, long-term cash flow potential, and valuation, not predictions. In addition, you can check the Fund’s top five holdings to determine its best picks for 2026.
In its Q2 2026 investor letter, Oakmark Global Fund highlighted TheCooper Companies, Inc. (NASDAQ:COO) as a newly added position. The Cooper Companies, Inc. (NASDAQ:COO) is a medical device company that operates through CooperVision and CooperSurgical segments. On July 14, 2026, The Cooper Companies, Inc. (NASDAQ:COO) closed at $68.51 per share. One-month return of The Cooper Companies, Inc. (NASDAQ:COO) was 7.35%, and its shares lost 3.95% over the past 52 weeks. The Cooper Companies, Inc. (NASDAQ:COO) has a market capitalization of $13.36 billion.
Oakmark Global Fund stated the following regarding The Cooper Companies, Inc. (NASDAQ:COO) in its Q2 2026 investor update:
“The Cooper Companies, Inc. (NASDAQ:COO) is a U.S.-headquartered medical device company that manufactures contact lenses and women’s health products. The contact lens industry benefits from an oligopolistic market structure with significant barriers to entry, highly recurring revenue streams, and historically has consistently positive pricing dynamics that support mid single-digit market growth over time. Cooper has an impressive track record of contact lens market share gains, which we attribute to its leading position in specialty lenses and its unique private-label strategy. We are encouraged by recent steps taken to improve free cash flow conversion, reaccelerate growth, and optimize the product portfolio. The stock has pulled back sharply alongside the broader medical technology sector and now trades at a meaningful discount to public peers, private market transactions, and its own trading history. We were pleased to initiate a position at what we view as an attractive entry point relative to our estimate of intrinsic value.”
The Cooper Companies, Inc. (NASDAQ:COO) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 49 hedge fund portfolios held The Cooper Companies, Inc. (NASDAQ:COO) at the end of the first quarter, compared to 53 in the previous quarter. While we acknowledge the risk and potential of The Cooper Companies, Inc. (NASDAQ:COO) 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 The Cooper Companies, Inc. (NASDAQ:COO) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered The Cooper Companies, Inc. (NASDAQ:COO) and shared the list of best stocks to buy according to billionaire Barry Rosenstein. In addition, please check out our hedge fund investor letters Q2 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.
