5 days ago
8
Attiya Zainib
Mon, January 19, 2026 astatine 9:25 AM CST 3 min read
Fiduciary Management Inc, an Investment Counsel, released its Q4 2025 capitalist letter. In its Investment Strategy Outlook, the money reported coagulated semipermanent show but acknowledged lagging broader indices amid a speculative, AI-driven marketplace rally. A transcript of the missive tin beryllium downloaded here. Equity markets posted beardown gains successful 2025, fueled by risk-seeking behaviour and dense attraction successful a constrictive acceptable of AI-linked stocks, contempt historically precocious valuations. The steadfast noted that quality-focused and value-oriented strategies underperformed during the year, peculiarly successful tiny caps, arsenic low-quality and high-beta stocks dominated returns. While recognizing AI’s semipermanent potential, the missive expressed interest implicit excessive superior spending, stretched valuations, and rising superior intensity. The money emphasized discipline, downside protection, and adherence to its quality-value attack arsenic signs of a marketplace bubble proceed to build. In addition, delight cheque the fund’s apical 5 holdings to cognize its champion picks successful 2025.
The missive notes that Accenture plc (NYSE:ACN)’s stock terms weakness reflects near-term concerns astir endeavor IT spending and AI-related uncertainty alternatively than structural deterioration. Financially, the money emphasizes Accenture plc (NYSE:ACN)’s resilient currency flows, diversified gross base, and semipermanent net durability arsenic integer and AI adoption accelerates. This disconnect betwixt valuation and fundamentals is what underpins the fund’s continued confidence. The one‑month instrumentality of Accenture plc (NYSE:ACN) was astir +5.74%, and its shares mislaid astir −18.83% of their worth implicit the past 52 weeks. On January 16, 2026, Accenture plc (NYSE:ACN) banal closed astatine astir $286.21 per share, with a marketplace capitalization of astir $176.11 billion.
Fiduciary Management Inc stated the pursuing regarding Accenture plc (NYSE:ACN) successful its 4th fourth 2025 capitalist letter:
"Accenture plc (NYSE:ACN) is the world’s starring IT consultant, with advantages stemming from their extent and breadth crossed products, geographies, and industries. Their gross is divided astir successful fractional betwixt IT consulting and managed services. Over the past 4 years, Accenture’s valuation has astir halved. They’ve faced headwinds successful IT spending and suffered from the cognition that they are an AI loser. We judge that AI volition origin deflationary unit successful parts of their business, but that it volition beryllium much than offset by the enactment required for enterprises to follow AI. This is precocious evidenced by partnerships with OpenAI and Anthropic. The AI supplier scenery is progressively fragmented, and firm customers request important assistance adopting these technologies astatine scale. We judge this volition thrust AI suppliers and customers into Accenture’s arms. The existent cyclical pressures are being attributed to structural issues, which we judge is incorrect, creating an charismatic semipermanent set-up."
.png)
English (CA) · 
English (US) · 
Spanish (MX) ·