Broyhill Asset Management, a Charlotte-based firm, issued its second-quarter 2026 investor letter, which is available for download here. The Broyhill Equity Composite gained 8.8% in Q2, trailing the MSCI All Country World Index’s 15.1% and the MSCI ACWI Value Index’s 10.8%. For the first half, the Composite returned 2.3%, versus 11.5% for the Index. The letter highlights that a significant portion of the shortfall occurred in April due to market dynamics and geopolitical events, with tech, particularly semiconductors, driving recent gains. Broyhill notes its lack of direct semiconductor exposure but acknowledges potential interest in the sector if opportunities arise, maintaining its investment philosophy focused on capital protection in fragile market conditions. Also, check the fund’s top five holdings to see its best picks in 2026.
In its second-quarter 2026 investor letter, Broyhill Asset Management highlighted Accenture plc (NYSE:ACN). Accenture plc (NYSE:ACN) provides strategy and consulting, industry X, song, and technology and operation services. On September 14, 2026, Accenture plc (NYSE:ACN) closed at $195.00 per share. Over the past month, Accenture plc (NYSE:ACN) was up 12.35%, and its shares lost 17.96% over the past 52 weeks. Accenture plc (NYSE:ACN) has a market capitalization of $119.33 billion.
Broyhill Asset Management stated the following regarding Accenture plc (NYSE:ACN) in its Q2 2026 investor letter:
“Accenture plc (NYSE:ACN) fell 38%, and we exited in June. Our case rested on unpriced optionality appearing as revenue per employee, and that measure grew only marginally while bookings declined 3% and the managed services book to-bill fell below one. Management’s response was to raise the acquisition guide to $9 billion. An inflection in bookings was a key point in the thesis, and the fact that management fell back on acquisitions when it came in weak does not inspire confidence in the core business. We sold the position following these results.”
Accenture plc (NYSE:ACN) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. According to our database, 69 hedge fund portfolios held Accenture plc (NYSE:ACN) at the end of the second quarter, compared to 64 in the previous quarter. While we acknowledge the potential of Accenture plc (NYSE:ACN) 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 the best short-term AI stock.