CrowdStrike Holdings (CRWD) Gains as Autonomous AI Agents Go Mainstream

Soumya Eswaran Thu, August 13, 2026 at 9:41 AM EDT 3 min read **

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• CRWD

TCW Funds, an investment management firm, published its second-quarter 2026 investor letter for the 'TCW Concentrated Large Cap Growth Fund.' A copy of the letter can be downloaded here. During the second quarter, AI monetization, a fragile Middle East ceasefire, and a Federal Reserve leadership transition were the significant events. All major indices ended higher, driven by resilient economic growth and strong corporate earnings. April marked a recovery from March lows, with the S&P 500 achieving record highs by early June, largely due to robust corporate earnings linked to AI capital spending. Although the fund appreciated 14.45% in the quarter, it trailed the Russell 1000® Growth Index's 16.74% and the S&P 500's 15.20% returns. Holdings in healthcare and financials hurt relative results most, while information technology and consumer discretionary holdings positively impacted relative performance during the quarter. Please review the Fund's top five holdings to gain insights into their key selections for 2026.

In its Q2 2026 investor letter, TCW Concentrated Large Cap Growth Fund highlighted CrowdStrike Holdings, Inc. (NASDAQ:CRWD). Headquartered in Austin, Texas, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a leading cybersecurity technology company. On August 12, 2026, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) closed at $221.78 per share, reflecting a market capitalization of $225.83 billion. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) posted a one‑month return of 10.07%, while its shares gained 111.168% over the past 52 weeks."

TCW Concentrated Large Cap Growth Fund stated the following regarding CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q2 2026 investor letter:

"Shares of CrowdStrike Holdings, Inc.** (NASDAQ:CRWD) also positively contributed to relative performance after posting solid quarterly results which included NNARR (Net New Annual Recurring Revenue) of $256M (+32% YoY), non-GAAP operating margin of 24% (+6% YoY), and FCF of $469M (+67% YoY). Management also raised forward guidance driven by strong module adoption, solid retention rates and a record 2Q pipeline. Both CRWD and PANW sold off earlier in the year as some investors feared cybersecurity LLMs would disrupt incumbent cybersecurity players. In April Anthropic released its Mythos model, and Anthropic granted early access to Mythos to several large cybersecurity companies and other institutions allowing them to use the LLM to detect vulnerabilities before a broader release. CRWD CEO George Kurtz referred to this as an "inflection moment", and rather than a risk for the company, it underscored the importance of a cybersecurity ecosystem. As the use of AI agents proliferates, the risk of breaches and cybersecurity attacks increases, necessitating increased cybersecurity spend. We remain constructive on shares of both PANW and CRWD."

** Story Continues CrowdStrike Holdings, Inc. (CRWD): I Sold Some For My Trust, Says Jim Cramer CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 79 hedge fund portfolios held CrowdStrike Holdings, Inc. (NASDAQ:CRWD) at the end of the first quarter, up from 67 in the previous quarter. While we acknowledge the potential of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) 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 thebest short-term AI stock**.

In another article, we spotlighted CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and shared Jim Cramer's take on the critical role of cybersecurity companies in the AI era. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.