Artisan Partners
Artisan Partners Non-U.S. Growth Strategy
International Large-cap Growth
Dec 2025 → Jun 2026
Our archive holds 3 letters from this strategy, behind 9 investment theses and positions in 18 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in 2 years — follow all of Artisan Partners for every strategy.
What it bought and sold
Within aerospace and defense, we sold our remaining position in Hanwha Aerospace and reduced our position in LIG Defense and Aerospace.
Within aerospace and defense, we sold our remaining position in Hanwha Aerospace and reduced our position in LIG Defense and Aerospace.
In consumer-related holdings, we initiated a position in Ryanair, a low-cost European airline with a strong balance sheet and structural cost advantage.
Sticking with electrification, we added Sumitomo Electric Industries, a Japan-based manufacturer of electric wires, cables and related equipment.
Amid the strength, we locked in gains by completely closing our position while maintaining conviction in the broader electrification theme.
We also added Techtronic Industries, a global power tools leader with well- established brands including Milwaukee, Ryobi and AEG.
Also held
Its investment theses
- Safran SAJun 2026Safran SA benefits from civil aerospace strength, aftermarket demand and growing defense propulsion capacity.
- Ryanair Holdings plcJun 2026Ryanair Holdings plc has a structural cost advantage and should gain market share from higher-cost European airlines.
- Sumitomo Electric Industries LtdJun 2026Sumitomo Electric Industries Ltd offers exposure to constrained infrastructure supply and should benefit from grid and transmission investment.
- Sun Hung Kai Properties LtdMar 2026Sun Hung Kai Properties is a dominant Hong Kong real estate company benefiting from improved mortgage rates, returning mainland buyers and rising profits.
- MNC SolutionsDec 2025MNC Solutions provides mission-critical power and automation for defense infrastructure with resilient demand, long-term contracts, and ~20% growth potential.
- Tesco PLCDec 2025Tesco is a leading UK grocer leveraging scale and price leadership to gain share, with retail media and buybacks supporting earnings growth.
- UBS Group AGDec 2025UBS Group is positioned for sustainable near-term earnings growth supported by a constructive regulatory outlook, wealth inflows, Credit Suisse integration, and cost synergies.
- Elia Group SA/NVDec 2025Elia Group is a fast-growing European TSO with >20% expected net income growth and an undervalued, expanding regulated asset base supported by policy tailwinds.
- Contemporary Amperex Technology Co LtdDec 2025Contemporary Amperex Technology is a leading EV and energy storage battery maker with scale and cost advantages positioned for long-term electrification growth.