What smart money is saying about Cisco Systems
1 fund in our archive has pitched Cisco Systems — most recently Lorne Steinberg Wealth Management Steinberg Equity Strategies in July 2026.
Cisco Systems, Inc. is a leading global technology company focused on designing, producing, and marketing Internet Protocol (IP)-based networking equipment, software, and associated products within the communications and information technology industries. The company operates extensively across major regions including the Americas, Europe, the Middle East, Africa, and the Asia Pacific, specifically covering Japan and China. Its comprehensive product lineup features switching solutions for both enterprise campuses and data centers. Cisco's enterprise routing segment is crucial for securely and reliably interconnecting public, private, wired, and mobile networks, ensuring vital connectivity across corporate campuses, data centers, and branch offices. Additionally, the company provides a range of wireless products offering seamless indoor and outdoor roaming for voice, video, and data applications. Security forms a significant pillar of its offerings, encompassing network defense, identity and access management, secure access service edge (SASE), alongside threat intelligence, detection, and response capabilities. For collaboration, Cisco delivers the Webex Suite, dedicated devices, contact center platforms, and communication platform-as-a-service (CPaaS). These end-to-end collaboration solutions are adaptable, available in cloud, on-premise, or hybrid environments, facilitating clients' migration to cloud-based systems. Moreover, their observability suite provides network assurance, monitoring, and analytics. Beyond its product portfolio, Cisco offers extensive customer support and services, including technical assistance, advanced professional services, and advisory consulting. The company serves a broad clientele, from small and large businesses to public institutions, governmental agencies, and service providers. Products and services are distributed directly by Cisco, as well as through a diverse network of system integrators, service providers, other resellers, and distributors. Cisco Systems, Inc. also engages in strategic collaborations with other industry players. Founded in 1984, the company is headquartered in San Jose, California.
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Position history
Between Q2 2025 and Q3 2026, 17 fund letters reported a position in Cisco Systems — 6 opened or added to the position, 4 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 4 | 0 | 3 | 1 |
| Q2 2026 | 11 | 6 | 1 | 0 |
| Q1 2026 | 1 | 0 | 0 | 0 |
| Q2 2025 | 1 | 0 | 0 | 0 |
Fund activity · 17 positions · 10 moves
- September 2026
“We exited positions in Cisco Systems in IT, Stryker in health care, Ferguson, Honeywell International and Honeywell Aerospace in industrials, Space Exploration Technologies, Walt Disney and T-Mobile in communication services and International Paper in materials.”
Cisco Systems - September 2026
“● Reduced: Cisco Systems, Inc. (CSCO) – Trimmed following recent strength and to manage position sizing.”
Cisco Systems - September 2026
“● Reduced: Cisco Systems, Inc. (CSCO) – Trimmed following recent strength and to manage position sizing.”
Cisco Systems - HoldsLorne Steinberg Wealth Management Steinberg Equity StrategiesJuly 2026
“The business consistently delivers robust operating margins and generates substantial free cash flow, which has supported both a growing dividend and, moreover, a significant reduction in the number of shares outstanding through persistent share buybacks. Cisco’s 10 - year annualized return is 19%. Cisco Systems Cisco is the undisputed global leader in networking hardware, software, and security services that form the foundational architecture of the internet.”
Cisco Systems - New positionClearBridge Investments Appreciation StrategyJune 2026
“Portfolio Highlights The ClearBridge Appreciation Strategy underperformed the benchmark S&P 500 Index in the second quarter of 2026. On an absolute basis, the Strategy had positive contributions from eight of 11 sectors. The IT sector was the main positive contributor, while energy was the main detractor. In relative terms, stock selection and sector allocation detracted. Stock selection in IT, industrials, communication services, financials and consumer discretionary, overweights to materials and energy and an IT underweight detracted the most. Conversely, stock selection in materials and a consumer discretionary underweight were beneficial. On an individual stock basis, the biggest relative contributors during the quarter were ASML, Palo Alto Networks, ASM International, an underweight to Microsoft and not owning Palantir. The biggest detractors were Netflix, underweights to Micron Technology and Advanced Micro Devices, and not owning Intel and Applied Materials. During the quarter, we initiated new positions in SpaceX in communication services, Micron Technology, Cisco Systems, Advanced Micro Devices and Texas Instruments in IT and Diamondback Energy in energy.”
Cisco Systems - June 2026
“Cisco Systems (+31.6% USD) was the Fund's strongest performer in May, driven by a sharp re-rating following its Q3 FY2026 results.”
Cisco Systems - New positionFindlay Park American FundJune 2026
“Another is Cisco – a former holding in the Fund - combines refreshed networking products, recurring revenues, proprietary Silicon One architecture and exposure to AI data-centre and campus networking demand.”
Cisco Systems - June 2026
“Top 10 holdings Weighting (%) Alphabet Inc. Class A 6.43 Apple Inc. 3.55 Micron Technology, Inc. 3.08 Microsoft Corporation 2.87 Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR 2.85 JPMorgan Chase & Co. 2.30 Cisco Systems, Inc. 2.15 AbbVie, Inc. 2.10”
Cisco Systems - June 2026
“We added to Cisco Systems and Lumentum Holdings, reflecting our improving conviction in their respective wealth creation outlooks and attractive valuations.”
Cisco Systems - June 2026
“We continued to upgrade the portfolio, increasing exposure to areas where we see stronger long-term wealth creation opportunities and more attractive risk-reward characteristics. We added to Cisco Systems, Lumentum Holdings and Hannover Re, reflecting improving conviction in their respective wealth creation outlooks and attractive valuation support.”
Cisco Systems - June 2026
“We added to Cisco Systems, Lumentum Holdings and Hannover Re, reflecting improving conviction in their respective wealth creation outlooks and attractive valuation support.”
Cisco Systems - June 2026
“We added to Cisco Systems and Lumentum Holdings, reflecting our improving conviction in their respective wealth creation outlooks and attractive valuations.”
Cisco Systems - TrimmedNexus Investment Management ULCJune 2026
“Rapid price appreciation in several names led to stretched valuations and outsized position sizes, prompting us to prudently trim our exposure to Cisco, Alphabet, Finning, and Toromont.”
Cisco Systems - June 2026
“Cisco Systems, Inc. (CSCO) – CSCO advanced as AI infrastructure demand accelerated and the campus networking refresh cycle gained momentum.”
Cisco Systems - June 2026
“Beyond Intel and Centene, our top contributors were Cisco, Eaton and Trane.”
Cisco Systems - HoldsThe Davenport FundsMarch 2026
“In a similar vein, Cisco Systems, Inc. (CSCO) is entering a networking refresh cycle, one that’s being augmented by robust data center growth.”
Cisco Systems - HoldsRS Global StrategyJune 2025
“Cisco Systems, Inc. 1.56”
Cisco Systems
Also mentioned · 10
These funds discuss Cisco Systems — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedKNA Capital Core Equity StrategySeptember 2026
“KNA Capital Management, LLC September 2026 Review One of Pzena’s clients came into the office and told him, “My grandmother is a better investor than you are. All you have to do is buy Cisco. Everybody in the world has figured this out except for you.” The client ended up firing Pzena’s firm. Cisco – the stock “everyone knew” was a buy back then – peaked in March 2000, lost 89% of its value by 2002, and didn’t return to its March 2000 highs for another 25 years.”
Cisco Systems - MentionedEdgewood Large Cap Growth StrategySeptember 2026
“In the late 1990s, we owned Cisco Systems whose routers and switches built the backbone of the internet.”
Cisco Systems - MentionedO'Keefe Stevens NVIDIA StrategyJuly 2026
“Adobe, Cisco, Palantir, SAP, Salesforce, ServiceNow, Siemens, Synopsys, Cadence, Dassault Systèmes, and other industry leaders are building domain-specific agents and AI systems on NVIDIA.”
Cisco Systems - June 2026
“Most concerning, in our view, are the valuations now commanded by investor favorites. Select stocks today trade at multiples exceeding those of Cisco at the peak of the dot-com bubble—the quintessential example of overly exuberant valuations.”
Cisco Systems - June 2026
“Most concerning, in our view, are the valuations now commanded by investor favorites. Select stocks today trade at multiples exceeding those of Cisco at the peak of the dot-com bubble—the quintessential example of overly exuberant valuations.”
Cisco Systems - June 2026
“Select stocks today trade at multiples exceeding those of Cisco at the peak of the dot-com bubble—the quintessential example of overly exuberant valuations.”
Cisco Systems - June 2026
“We initiated a new position in Arista Networks, a high-performance networking company focused on software-driven cloud architectures for hyperscalers, cloud providers, and other high-performance computing environments. The company's core innovation, the Extensible Operating System (EOS), is a single, highly modular Linux-based platform that runs across all switches, enabling scalability, automation, and reliability and operational simplicity across complex network environments. Arista’s focused architecture and superior product performance have supported stable gross margins of approximately 60- 65% and non-GAAP operating margins above 40%, demonstrating meaningful pricing power. While approximately 85% of Arista’s revenue is derived from hardware products, the business exhibits a high degree of repeatability driven by ongoing data center expansion, technology refresh cycles, and increasing network complexity. Once deployed within a hyperscale environment, Arista becomes deeply embedded in customer operations, creating meaningful switching costs and positioning the company to participate in future network expansions. Revenue durability is further supported by structural demand for data center networking and consistent upgrade cycles from 100G to 400G and increasingly 800G architectures. U.S. Large Cap Growth Commentary Please see table included in this commentary for full performance presentation. 8 Key risks we are monitoring include competition from Cisco and potential new entrants, customer concentration among large hyperscalers, variability in deferred revenue growth, and supply chain dependencies.”
Cisco Systems - MentionedSaratoga Research & Investment Management Large Cap Quality StrategiesJune 2026
“The lesson: technology usually succeeds. Most investors don’t. The pattern is not theoretical. Cisco was one of the defining companies of the internet era, and its business ultimately validated much of the optimism embedded within it.”
Cisco Systems - MentionedEmerald Wealth Partners AGMay 2026
“Starting to see a real impact This said, AI is going from hype to implementation: The positive impact of AI starts to be increasingly felt outside the early beneficiaries of AI and a broader set of companies start to show rising sales from AI (e.g., Fortinet, Cisco) or report growing amounts of cost savings thanks to their use of AI (e.g., ServiceNow).”
Cisco Systems - MentionedManole CapitalDecember 2025
“In the 1980s, one of our favorite TV shows was Cheers. The know-it-all postal worker was named Cliff Clavin and played by actor John Ratzenberger. This recurring segment of our newsletter highlights some “useless” information that Cliff would be proud of. The Chinese use two brush strokes to write the word CRISIS. One brush stroke stands for DANGER, and the other means OPPORTUNITY. In a crisis, be aware of the danger, but recognize the opportunity. Cisco finally regained the old all-time high. It took 25 years.”
Cisco Systems
Fund coverage · 1 thesis
- Lorne Steinberg Wealth Management Steinberg Equity StrategiesJuly 2026
Cisco Systems is a networking and security leader with improving subscription cash flows, strong free cash flow, shareholder returns, and exposure to cloud and AI-driven upgrades.
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