Broyhill Asset Management Exits Accenture (ACN) Position Amid Disappointing Performance
In its second-quarter 2026 investor letter, Broyhill Asset Management revealed it had exited its position in Accenture (NYSE: ACN), citing underwhelming performance and a lack of confidence in the company's core business. The firm noted that Accenture’s revenue per employee grew only marginally while bookings declined by 3%, prompting concerns about management's reliance on acquisitions to meet financial targets. Broyhill reported its Equity Composite returned 8.8% for Q2, lagging behind major global indices like the MSCI All Country World Index and the MSCI ACWI Value Index. The firm emphasized a cautious investment approach focused on capital preservation amid volatile market conditions and geopolitical uncertainties that impacted performance in April. Accenture’s stock closed at $195 per share as of September 14, with shares up 12.35% over the past month but down significantly (-17.96%) year-over-year.
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