Salesforce (CRM) Shares Declined Despite a Durable Enterprise Software Franchise
Source: Insider Monkey ·
Diamond Hill Capital, a First Eagle Investment Management company, issued its Q2 2026 investor letter for its “Select Strategy”. A copy of the letter can be downloaded here. The Strategy delivered 5.08% (net of fees) in the quarter, while the Russell 3000 Index returned 15.44%, supported by AI-driven investment, strong corporate earnings, and easing geopolitical concerns. […]
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Diamond Hill Capital, a First Eagle Investment Management company, issued its Q2 2026 investor letter for its "Select Strategy". A copy of the letter can be downloaded here . The Strategy delivered 5.08% (net of fees) in the quarter, while the Russell 3000 Index returned 15.44%, supported by AI-driven investment, strong corporate earnings, and easing geopolitical concerns. Relative performance was pressured by limited exposure to AI beneficiaries, particularly semiconductor and memory companies, which generated significant gains during the quarter. Technology exposure remained a headwind, with software holdings impacted by uncertainty around AI disruption, although the strategy maintained conviction. Despite technology-related challenges, several of the strategy's strongest contributors came from industrial and consumer discretionary companies, including four of its top five contributors, highlighting the benefits of its broad investment universe. You can also review the fund's top 5…