Weitz Large Cap Equity Fund on Salesforce, Inc.
Thesis
Salesforce has been pressured by concerns that AI could disrupt established software business models. The fund reduced the holding materially during the quarter as part of its risk-management process. Despite the weaker share price and smaller position, the managers continue to see attractive upside from current levels.
“Even after these trims, we continue to believe these investments offer attractive upside from current prices.”
Key risks
- Potential AI disruption to software and information-services business models.