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 Sysco Corporation (NYSE:SYY) as a newly established position. Sysco Corporation (NYSE:SYY) is a leading food service distribution and marketing company. On April 13, 2026, Sysco Corporation (NYSE:SYY) closed at $73.36 per share. One-month return of Sysco Corporation (NYSE:SYY) was -12.97%, and its shares gained 2.92% over the past 52 weeks. Sysco Corporation (NYSE:SYY) has a market capitalization of $35.08 billion.
Oakmark Fund stated the following regarding Sysco Corporation (NYSE:SYY) in its Q1 2026 investor letter:
“Sysco Corporation (NYSE:SYY) is one of the largest food service distribution companies globally. Food service distribution is a stable industry that has historically grown faster than food spending. The continued secular shift to food away from home combined with scale advantages, has enabled Sysco to take market share over time. Sysco is achieving positive results in the early turnaround phase of its domestic independent restaurant segment while the rest of the business continues to perform well. The recently announced acquisition of Restaurant Depot surprised investors and provided us an opportunity to purchase shares at an attractive price. In our view, Sysco remains a high-quality company with a credible management team, so we were happy to purchase shares at a discount to peers and the company’s own historical trading multiple.”
Sysco Corporation (NYSE:SYY) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 65 hedge fund portfolios held Sysco Corporation (NYSE:SYY) at the end of the fourth quarter, up from 54 in the previous quarter. While we acknowledge the risk and potential of Sysco Corporation (NYSE:SYY) 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 Sysco Corporation (NYSE:SYY) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Sysco Corporation (NYSE:SYY) and shared the list of top consumer defensive 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.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.
Disclosure: None. This article is originally published at Insider Monkey.
