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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"The Artisan Mid Cap Fund recorded outstanding top-quartile performance in 2025, outpacing its benchmark in Q4 despite modest negative absolute returns, while actively shifting its exposure toward biotech product cycles, industrials, and AI-hardware enablers."
During Q4 2025, the Artisan Mid Cap Fund delivered a modest negative absolute return (Investor Class -0.44%) but outperformed the Russell Midcap Growth Index (-3.70%). For the full year 2025, the fund generated strong top-quartile results (YTD +14.75% for Investor Class) driven by outstanding stock selection in healthcare and financials. Key quarterly portfolio changes included initiating new positions in L3Harris, Astera Labs, and Carvana, while completely exiting campaigns in Veeva Systems, Snowflake, and Ferguson due to competitive, valuation, and AI disruption risks. The managers also selectively trimmed strong performers like Coherent, iRhythm, and MACOM on valuation discipline.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: The Artisan Mid Cap Fund recorded outstanding top-quartile performance in 2025, outpacing its benchmark in Q4 despite modest negative absolute returns, while actively shifting its ...
Growth Outlook
Market outlook remains above average conviction: The Artisan Mid Cap Fund recorded outstanding top-quartile performance in 2025, outpacing its benchmark in Q4 despite modest negative absolute returns, while actively shifting its ...
Risk Appetite
Risk appetite posture is above average conviction: The Artisan Mid Cap Fund recorded outstanding top-quartile performance in 2025, outpacing its benchmark in Q4 despite modest negative absolute returns, while actively shifting its ...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. The Artisan Mid Cap Fund recorded outstanding top-quartile performance in 2025, outpacing its benchmark in Q4 despite modest negative absolute returns, while actively shifting its ...
Forward Guidance
Forward guidance signal: The Artisan Mid Cap Fund recorded outstanding top-quartile performance in 2025, outpacing its benchmark in Q4 despite modest negative absolute returns, while actively shifting its ...
Language Signal
Tone analysis indicates above average conviction language: The Artisan Mid Cap Fund recorded outstanding top-quartile performance in 2025, outpacing its benchmark in Q4 despite modest negative absolute returns, while actively shifting its ...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. The Artisan Mid Cap Fund recorded outstanding top-quartile performance in 2025, outpacing its benchmark in Q4 despite modest negative absolute returns, while actively shifting its ...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. The Artisan Mid Cap Fund recorded outstanding top-quartile performance in 2025, outpacing its benchmark in Q4 despite modest negative absolute returns, while actively shifting its ...
Time Horizon
Investment time horizon reflects a high conviction orientation. The Artisan Mid Cap Fund recorded outstanding top-quartile performance in 2025, outpacing its benchmark in Q4 despite modest negative absolute returns, while actively shifting its ...
