Prominent Investment Advisor Sells Majority of Salesforce Position, According to Latest Filing
Key Points
Sold 44,937 shares of Salesforce, with an estimated transaction value of $11.33 million based on average pricing for the quarter
Post-sale, the fund holds 20,324 shares valued at $4.82 million.
Salesforce now accounts for 0.47% of total fund AUM, placing it outside the fund’s top five holdings.
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CCM Investment Advisers disclosed in an October 10, 2025, Securities and Exchange Commission filing that it sold 44,937 shares of Salesforce (NYSE:CRM), estimated at approximately $11.33 million for the quarter ended September 30, 2025.
What Happened
According to a Securities and Exchange Commission filing dated October 10, 2025, CCM Investment Advisers reduced its position in Salesforce by 44,937 shares during the quarter. The estimated value of the shares sold, based on the average price for the quarter, was about $11.33 million. The fund now reports holding 20,324 shares as of September 30, 2025.
What Else to Know
The stake reduction brings Salesforce to 0.47% of CCM’s reportable assets under management after the sale.
Top holdings after the filing:
- NASDAQ:NVDA: $40.55 million (4.0% of AUM) as of September 30, 2025
- NASDAQ:GOOGL: $36.30 million (3.6% of AUM) as of September 30, 2025
- NASDAQ:AVGO: $36.12 million (3.6% of AUM) as of September 30, 2025
- NASDAQ:MSFT: $33.70 million (3.3% of AUM) as of September 30, 2025
- NASDAQ:AAPL: $32.84 million (3.2% of AUM) as of September 30, 2025
As of October 9, 2025, Salesforce shares were priced at $245.33, down 14.8% over the past year. The stock has underperformed the S&P 500 by 32.5 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $39.50 billion |
| Net Income (TTM) | $6.66 billion |
| Dividend Yield | 0.68% |
| Price (as of market close 2025-10-09) | $245.33 |
Company Snapshot
Salesforce offers a comprehensive suite of cloud-based customer relationship management (CRM) solutions, including Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Tableau analytics, MuleSoft integration, and Slack collaboration.
The company serves a global client base spanning financial services, healthcare, manufacturing, and other industries, targeting enterprises seeking to unify customer data and engagement. Salesforce generates revenue primarily through subscription and support fees for its software-as-a-service platforms, complemented by professional services and training offerings.
Salesforce, Inc. is a leading provider of enterprise cloud software, enabling organizations to manage customer relationships and business processes at scale. With a broad portfolio and a strong presence across multiple industries, Salesforce maintains a competitive edge by continuously expanding its ecosystem and innovating in cloud-based business applications.
Foolish Take
CCM Investment Advisor's decision to cut its stake in Salesforce by about $11.3 million looks like a significant paring back of its stake in the software company, after a year of underperformance relative to the S&P 500. Indeed, over the past year, Salesforce stock has generated a total return of (16%), while the S&P has generated a total return of 14%. All told, this sale equates to a liquidation of roughly 70% of CCM's overall stake in Salesforce -- a significant reduction that could be indicative of a change in conviction among the fund's managers.
At any rate, for investors looking to gain or expand their exposure to the software sector, it may be wise to target sector-focused exchange-traded funds (ETFs). For the technology industry, top funds include the Technology Select Sector SPDR Fund (XLK), the Vanguard Information Technology Index Fund ETF (VGT), and Invesco QQQ Trust, Series 1 (QQQ). All three offer diverse exposure to leading technology firms, like Nvidia, Microsoft, and Apple.
In summary, institutional activity can serve as a reminder that many individual stocks underperform the market -- making diversification key to long-term success. For investors looking to diversify within the technology sector, a sector-focused ETF may be the right choice.
Glossary
13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC, showing certain equity holdings.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Alpha: A measure of an investment's performance relative to a benchmark, showing excess return or underperformance.
Stake reduction: The act of decreasing the number of shares or percentage ownership a fund or investor holds in a company.
Top holdings: The largest investments in a fund's portfolio, typically ranked by market value or portfolio weight.
Cloud-based customer relationship management (CRM): Software delivered over the internet to help businesses manage customer interactions and data.
Ecosystem (in business): The network of products, services, and partners that enhance a company's core offerings and value.
TTM: The 12-month period ending with the most recent quarterly report.
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Jake Lerch has positions in Alphabet, Invesco QQQ Trust, Nvidia, and Vanguard Information Technology ETF. The Motley Fool has positions in and recommends Alphabet, Apple, Microsoft, Nvidia, and Salesforce. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
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