What smart money is saying about Dell
1 fund in our archive has pitched Dell — most recently Liontrust Global Income & Growth Fund in September 2026.
Dell Technologies Inc. is a worldwide technology leader that designs, develops, manufactures, markets, sells, and provides support for a broad spectrum of information technology (IT) solutions, products, and services. The company's business activities are structured into three primary segments: the Infrastructure Solutions Group (ISG), the Client Solutions Group (CSG), and VMware. The ISG division focuses on delivering enterprise-grade offerings, including both traditional and next-generation storage solutions, alongside various server configurations such as rack, blade, tower, and hyperscale models. This segment also provides networking products and related services aimed at helping corporate clients modernize their IT infrastructure, enrich end-user experiences, and accelerate critical business applications and processes. Complementary software, peripherals, and extensive support services—encompassing deployment, configuration, and extended warranties—are also part of its portfolio. The CSG segment addresses end-user computing requirements by offering personal computers like desktops, workstations, and notebooks, as well as displays and projectors. It further includes proprietary and third-party software, peripheral devices, and a full suite of support, installation, setup, and extended warranty services. The VMware division specializes in assisting customers with managing intricate IT landscapes, particularly concerning hybrid and multi-cloud environments, modern applications, network infrastructure, security protocols, and digital workspaces. Its services enable efficient resource management across private, multi-cloud, and multi-device setups. Furthermore, Dell Technologies offers information security solutions and cloud software, including Infrastructure-as-a-Service (IaaS), which empower customers to migrate, operate, and manage mission-critical applications within cloud-based IT environments. Founded in 1984, the company was initially known as Denali Holding Inc. before officially changing its name to Dell Technologies Inc. in August 2016. Its global headquarters are situated in Round Rock, Texas.
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Position history
Between Q1 2026 and Q3 2026, 13 fund letters reported a position in Dell — 1 opened or added to the position, 1 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 6 | 0 | 1 | 1 |
| Q2 2026 | 5 | 1 | 0 | 0 |
| Q1 2026 | 2 | 0 | 0 | 0 |
Fund activity · 13 positions · 2 moves
- September 2026
“Dell (+20%) shares jumped at the start of the month after the company boosted its annual sales forecast by $25 billion due to surging demand for servers to run artificial intelligence tasks. Revenue in the fiscal year ending in January 2027 will be about $192 billion, including $74 billion from the sale of AI servers, which is up from an outlook in May of about $167 billion. The AI server forecast represents a threefold increase over the prior year, and the company has booked more than $130 billion in AI server orders over the past 12 months. The shares continued to rise throughout the month. We cut our position size further.”
Dell - September 2026
“ Dell Technologies, Inc. (DELL) was a strong contributor to performance as the company continues to report increasingly impressive results.”
Dell - HoldsDistillate CapitalSeptember 2026
“Table 1 and Figure 22: "AI 20" include: NVDA, GOOGL, MSFT, AMZN, SPCX, META, AVGO, TSLA, MU, AMD, INTC, PLTR, CSCO, ORCL, LRCX, AMAT, CAT, DELL, PANW, CRWD.”
Dell - September 2026
“ Microsoft Corporation (MSFT) was a leading contributor to performance in the third quarter after the company reported fiscal 4Q26 results that showed strong revenue growth across all three segments and an acceleration in Azure that was above guidance and investor expectations. The stock’s nearly 20% decline during the month of June presented a compelling opportunity early in the quarter to establish a new position as the stock approached valuation levels that hadn’t been seen in nearly 10 years Dell Technologies, Inc. (DELL) was a strong contributor to performance as the company continues to report increasingly impressive results.”
Dell - September 2026
“Artificial intelligence remained an important source of both upside and volatility at the individual stock level. Dell, Microsoft, and Fortinet were the portfolio's largest contributors, with each benefiting from a different part of the AI investment cycle, and NVIDIA also contributed positively.”
Dell - September 2026
“Contributors during the quarter came from a diverse group of holdings, with performance driven by company-specific earnings strength, AI infrastructure spending, higher energy prices, and improving sentiment in select areas of healthcare. The AI theme itself remained volatile, with performance across technology far from uniform as investors increasingly differentiated between companies on earnings delivery, order visibility, and the durability of underlying demand. Dell Technologies and Hewlett Packard Enterprise were two of the portfolio’s strongest contributors.”
Dell - June 2026
“Information Technology, Energy, and Consumer Staples were the leading contributors to performance during the second quarter. Both Dell Technologies (DELL) and Flex Ltd (FLEX) saw a material acceleration in their core businesses from continued AI infrastructure demand and each company raised their immediate term outlooks.”
Dell - June 2026
“Both Dell Technologies (DELL) and Flex Ltd (FLEX) saw a material acceleration in their core businesses from continued AI infrastructure demand and each company raised their immediate term outlooks.”
Dell - June 2026
“Platform Hardware, Platform Software and Edge Compute: performance was again led by the Fund’s technology and AI-exposed basket, consistent with the broader market backdrop. Investor focus stayed firmly on earnings resilience, AI-related capital expenditure and the durability of demand across the digital infrastructure stack. Names such as Dell, Snowflake, CrowdStrike, Credo Technology, and Infineon were important contributors on the long side.”
Dell - June 2026
“We expect the company to continue benefitting from AI infrastructure buildout, with Dell’s AI orders surpassing >$53B in the most recent quarter.”
Dell - HoldsFPA Crescent FundJune 2026
Listed in FPA Crescent Fund’s reported holdings.
Dell - March 2026
“Information Technology, Communication Services, and Consumer Discretionary were the leading contributors to performance during the first quarter. Both Dell Technologies (DELL) and TD SYNNEX (SNX) posted strong quarterly results and gave better than consensus expected outlooks for the remainder of 2026.”
Dell - March 2026
“Information Technology, Communication Services, and Consumer Discretionary were the leading contributors to performance during the first quarter. Both Dell Technologies (DELL) and TD SYNNEX (SNX) posted strong quarterly results and gave better than consensus expected outlooks for the remainder of 2026.”
Dell
Also mentioned · 7
These funds discuss Dell — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedCambiar Investors SMID FundSeptember 2026
“The recent purchase of Nutanix (NTNX) is off to a good start, with the stock moving higher in response to a positive earnings report. Nutanix utilization software allows servers to run multiple independent operating systems simultaneously, maximizing server efficiency. With the anticipated growth in on-premises hardware (see Dell), NTNX should be in excellent position to grow revenues/earnings.”
Dell - MentionedCambiar Investors Opportunity FundSeptember 2026
“The purchases of Microsoft and Nutanix (NTNX) have been additive thus far, with both companies announcing strong earnings in the quarter. Nutanix may be a less-known company for many clients; the company’s server utilization software allows a single physical machine to run multiple independent operating systems simultaneously, maximizing server efficiency. With the anticipated growth in on-premises hardware (see Dell), NTNX should be in excellent position to grow revenues/ earnings.”
Dell - MentionedO'Keefe Stevens NVIDIA StrategyJuly 2026
“With partners such as Palantir and Dell, we are enabling customers to stand up AI platforms in any country, region, or field environment where privacy, sovereignty, resilience, and control matter most.”
Dell - MentionedDeep Sail Capital PartnersJune 2026
“The company serves enterprise AI companies and the hyperscalers, including Google, Meta, Dell, HPE, IBM, Juniper Networks, and Oracle Corporation, among others.”
Dell - MentionedMiddle Coast InvestingJune 2026
“Hyve helps companies set up data center infrastructure, in the chain with SuperMicroComputer (SMCI), Dell (DELL), and similar beneficiaries of the AI boom.”
Dell - MentionedMD SASS Concentrated ValueJune 2026
“Because many of those suppliers, including Micron, Intel, Western Digital, Dell, and Marvell, were traditionally viewed as cyclical businesses,”
Dell - MentionedOakmark FundJune 2026
Named in a table in Oakmark Fund’s letter.
Dell
Fund coverage · 1 thesis
- Liontrust Global Income & Growth FundSeptember 2026
Dell is benefiting from surging AI server demand, with sharply raised sales guidance and a huge order backlog.
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