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 Salesforce, Inc. (NYSE:CRM). Salesforce, Inc. (NYSE:CRM) is a cloud computing company that offers Customer Relationship Management (CRM) technology that brings companies and customers together. On April 13, 2026, Salesforce, Inc. (NYSE:CRM) closed at $172.82 per share. One-month return of Salesforce, Inc. (NYSE:CRM) was -11.52%, and its shares lost 32.21% over the past 52 weeks. Salesforce, Inc. (NYSE:CRM) has a market capitalization of $161.93 billion.
Oakmark Fund stated the following regarding Salesforce, Inc. (NYSE:CRM) in its Q1 2026 investor letter:
“Salesforce, Inc. (NYSE:CRM) was the top detractor during the quarter. The U.S.-headquartered software company’s stock price declined as it contended with market fears over AI disruption. Quarterly results have remained strong and margins continue to improve. Management emphasized they expect subscription revenue growth to accelerate in the second half of 2026 as Agentforce becomes a more meaningful part of the business. We applaud management’s commitment to share repurchase at recent market prices, including their recently announced $50 billion buyback authorization and $25 billion accelerated share repurchase plan. We believe these capital allocation actions position Salesforce to emerge stronger from today’s AI-related stock price drawdown.”
Salesforce, Inc. (NYSE:CRM) ranks 28 on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 115 hedge fund portfolios held Salesforce, Inc. (NYSE:CRM) at the end of the fourth quarter, compared to 119 in the previous quarter. While we acknowledge the risk and potential of Salesforce, Inc. (NYSE:CRM) 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 Salesforce, Inc. (NYSE:CRM) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Salesforce, Inc. (NYSE:CRM) and shared Mar Vista U.S. Quality Strategy’s views on the company. 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.
