In a significant portfolio shift, Sarah Ketterer's Causeway Capital Management drastically reduced its position in IT services firm Cognizant Technology Solutions (CTSH) by 67.1% during the second quarter of 2026. The firm sold over one million shares, cutting its holding from 1.50 million shares to just under 495,000. This reduced the value of its stake from $92.29 million to $19.17 million and decreased its portfolio weight in the company to a mere 0.21%.
This trade information comes from a quarterly 13F filing with the SEC, dated August 13, 2026, which discloses holdings as of June 30, 2026. Therefore, the transactions occurred between April and June. During that period, Cognizant's management expressed confidence in its AI strategy and initiated a significant $2 billion share repurchase program, stating it believed the company's shares were undervalued. Cognizant later reported Q2 revenue growth and raised its full-year profit guidance in late July.