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 potential of Sysco Corporation (NYSE:SYY) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
