Oakmark Funds, advised by Harris Associates, released its “Oakmark International Fund” first-quarter 2026 investor letter. It is a diversified fund that focuses on long-term capital appreciation by investing in common stocks of non-U.S. companies, generally in the mid and large-cap spectrum. A copy of the letter can be downloaded here. In the first quarter, the fund (Investor Class) delivered a return of -6.43%, trailing the benchmark, the MSCI World ex USA Index’s -0.94% return. Industrials and materials were the top performance contributors at the sector level, while the consumer discretionary and information technology were the largest detractors. 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 International Fund highlighted Coupang, Inc. (NYSE:CPNG) as a newly established position. Coupang, Inc. (NYSE:CPNG) is a Korean technology and e-commerce platform that operates through Product Commerce and Developing Offerings segments. On April 13, 2026, Coupang, Inc. (NYSE:CPNG) stock closed at $20.15 per share. One-month return of Coupang, Inc. (NYSE:CPNG) was -1.51%, and its shares lost 4.63% over the past 52 weeks. Coupang, Inc. (NYSE:CPNG) has a market capitalization of $36.84 billion.
Oakmark International Fund stated the following regarding Coupang, Inc. (NYSE:CPNG) in its Q1 2026 investor letter:
“Coupang, Inc. (NYSE:CPNG) is the leading e-commerce company in South Korea, often compared to Amazon for its wide product selection, strong customer service, and best in class logistics network. Founded in 2010, the company has built its reputation around its “Rocket WOW” system, which offers same-day or next-day shipping on millions of items. What differentiates this service is Coupang’s deeply vertically integrated logistics model. Rather than relying primarily on third-party sellers and carriers, the company owns and operates its fulfillment centers, manages inventory directly, and controls last-mile delivery through its own network. We believe this advantage positions it well to capture market share and expand margins over the long term. Despite Coupang’s e-commerce dominance, its share price has fallen significantly since last November after a cyber breach. We continue to monitor the fallout from the cyber incident but believe this has given us an opportunity to invest in a high-quality company at an attractive valuation.”
Coupang, Inc. (NYSE:CPNG) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 94 hedge fund portfolios held Coupang, Inc. (NYSE:CPNG) at the end of the fourth quarter, up from 83 in the previous quarter. While we acknowledge the potential of Coupang, Inc. (NYSE:CPNG) 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.
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