Letters by company
Salesforce, Inc.
10 letters discussing CRM. Everything written about it on this site is on its ticker page.
- Guinness Global Investors Guinness Global Equity Income Investment Commentary – September 2026 Guinness Global Equity Income sold Aflac, citing a saturated Japanese market, buyback-supported earnings and a richer valuation, and added Nvidia on AI-infrastructure demand, CUDA-driven switching costs and dividend-growth capacity. It argues Treasury long-bond buybacks could foster fiscal dominance, while Deutsche Boerse and Texas Instruments retain structural growth cases. August 2026 AFL $57BCRM $183BCSCO $465B
- Nightview Capital Q2 2026 Investor Letter Nightview Capital added to Salesforce and ServiceNow, initiated Atlassian, and held Autodesk steady on the view that systems of record, switching costs, distribution and AI integration protect strong software franchises. It exited Meta, Intuitive Surgical, Shopify and EchoStar, added gaming and hospitality exposure, and rotated financials toward BlackRock and Charles Schwab. Q2 2026 ADSK $46BCRM $183BLVS $24B
- Harry Qelm Baabsman 2026 Half-year Investment portfolio report The Steppe Eagle added Accenture, Salesforce, Lululemon, Uber, ServiceNow, Adobe, Zoom and DocuSign after new capital diluted existing position weights, using incremental purchases as prices fell. It retains Alphabet despite concerns over mega-cap concentration, sees value in software and clean energy, and sets out long-term cases for Salesforce, Uber, Shopify, Zoom, solar businesses and other holdings. 2026 Half-year ACN $118BADBE $90BCRM $183B
- Weitz Investment Management Letter to Shareholders: Value Matters Weitz Investments kept portfolios focused on steady earners with understandable long-term prospects rather than the AI market leaders. It argues that Salesforce, Constellation Software and Accenture can benefit from bringing AI to business users, while Danaher and Thermo Fisher retain durable life-sciences prospects despite policy and funding disruptions. third quarter 2025 ACN $118BCNSWF $43BCRM $183B
- PenderFund Capital Management Ltd. Pender Small Cap Opportunities Fund - August 2026 Pender Small Cap Opportunities Fund retained defensive positioning while seeking undervalued small-cap businesses, with high conviction in software and AI infrastructure spending. It added to Tantalus after its selloff, backed McDermott’s restructuring catalysts, and cited VitalHub’s recurring-revenue milestone, cash balance and buyback plan. August 2026 TGMPF $187MVHI $332M
- Bretton Fund 2026 Q2 Shareholder Letter Bretton Fund added to UnitedHealth after its selloff and initiated SAP and Constellation Software, arguing that mission-critical enterprise and niche vertical software are more insulated from AI disruption than investors assume. The fund avoided the expensive AI data-center and memory boom, citing unsustainable capital spending and inflated semiconductor valuations. 2nd Quarter 2026 CNSWF $43BGOOGL $4.2TSAP $240B
- Shelton Capital Management Shelton Equity Income Fund Quarterly Commentary Shelton Equity Income Fund benefited from security selection in Micron Technology, Advanced Micro Devices, Lam Research, Apple and NVIDIA, while Salesforce, Accenture, Intuit, Comcast and Intuitive Surgical detracted. The strategy expects geopolitical and oil-related volatility to persist, while covered calls trade some upside participation for option income and lower volatility. 2Q 2026 —
- Sustainable Growth Advisers U.S. Large Cap Growth Commentary - Q2 2026 The SGA U.S. Large Cap Growth Portfolio added Equinix and Arista Networks while exiting Intuit and Aon following forced attrition. The portfolio lagged momentum-driven market leadership concentrated in AI capital-expenditure beneficiaries, but SGA expects its companies to compound revenue and earnings and sees unusually attractive relative valuation. Q2 2026 —
- Hayden Capital Q2 2026 Quarterly Letter Hayden Capital argues that AI disruption will unfold more slowly than markets initially expected, favoring durable platforms with proprietary data and embedded workflows. The firm sees Shopee’s VIP and logistics spending and Mercado Libre’s delivery investments as reinvestment programs that can strengthen customer economics. It exited Pinduoduo after its original thesis played out, citing limited visibility into Pinmu and China’s weaker consumption backdrop. Q2 2026 AMZN $2.7TGOOGL $4.2TMELI $94B
- Troy Asset Management Investment Report No.88 April 2026 Troy Multi-Asset Strategy cut gold after its sharp advance and took profits in Alphabet and Microsoft as AI investment spending and valuation risk intensified. The strategy retained short-duration inflation protection and yen exposure, arguing that Gulf-war supply shocks, persistent inflation and crowded risk assets warrant proactive stock selection. first quarter of 2026 GOOGL $4.2TMSFT $3.9T
