Top 5 Stocks in Lee Ainslie’s Portfolio

2. Salesforce Inc (NYSE:CRM)

Number of Hedge Fund Holders: 136
Maverick Capital % Portfolio: 4.4%

Salesforce Inc (NYSE:CRM) is a company that offers customer relationship management technology that connects companies with customers worldwide. Its solutions allow companies to store data, monitor leads and progress, and forecast opportunities. It’s been one of the best-performing stocks rallying by nearly 70% year to date. Its sentiments have improved significantly on rolling out an array of artificial intelligence tools as it looks to strengthen its CRM technology. It has also announced a price increase for its tools, a move expected to bolster revenues and profit margins.

Salesforce is one of Maverick Capital’s biggest holdings, accounting for about 4.4% of the portfolio. Mizuho’s Gregg Moskowitz maintained a Buy rating on Salesforce Inc (NYSE:CRM) and boosted the stock’s target price from $250 to $260 on July 20.

According to Insider Monkey’s first quarter database, 136 hedge funds were bullish on Salesforce Inc (NYSE:CRM), compared to 117 funds in the prior quarter. Natixis Global Asset Management’s Harris Associates is the largest stakeholder of the company, with 7.71 million shares worth $1.54 billion.

In its investor letter for the first quarter of 2023, Harding Loevner provided an observation concerning Salesforce, Inc. (NYSE:CRM).

“It also signaled lower capital expenditures and increased share repurchases. Other tech companies, including Salesforce, Inc. (NYSE:CRM), similarly benefited from plans to lower costs and increase profitability. Meanwhile, NVIDIA, the graphic-chips designer, surged amid investor enthusiasm over the potential commercial applications of artificial-intelligence technologies, such as ChatGPT, which requires the use of many chips.”