Constellation Software is currently navigating a challenging landscape characterized by a significant stock drawdown, largely driven by fears related to artificial intelligence and the recent departure of its founder. This turmoil has prompted a strategic pivot from its long-standing decentralized mergers and acquisitions (M&A) model towards larger and potentially riskier public market investments. One of the most concerning aspects of this shift is the company's recent investment in Sabre, which raises questions about future capital allocation strategies. The author, who had invested in Constellation earlier in 2026, decided to sell their position almost immediately following the disclosure of the Sabre investment. Despite a reset in valuation, Constellation Software's growth prospects appear less compelling when compared to its software peers, leading to a perception of unfavorable risk-reward dynamics for potential investors. As the company adapts to these market pressures, stakeholders remain watchful of how these changes will impact its long-term viability.