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Harris Oakmark's third-quarter 2026 investor letter identifies Salesforce, Inc. as a top contributor to the Oakmark Fund, attributing the stock's performance to investor confidence in its AI capabilities.
The fund returned 3.45% for the quarter, outperforming the S&P 500 Index's 2.30% return, with gains in Information Technology and Health Care offsetting losses in Industrials and Materials.
In the letter, Oakmark noted that Salesforce shares rose after the company reported accelerating revenue growth and raised guidance.
Management highlighted strong momentum in Agentforce, Data Cloud, and Slack, along with continued growth in net new annual recurring revenue and historically low customer attrition.
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