Artisan Partners
Artisan Partners U.S. Mid‑Cap Growth Strategy
US Mid-cap Growth
Dec 2025 → Sep 2026
Our archive holds 4 letters from this strategy, behind 20 investment theses and positions in 45 companies. Every quote below is copied verbatim from the letter it came from.
4 letters in 2 years · follow all of Artisan Partners for every strategy.
Performance
as of Sep 30, 2026 · net of fees · USD · Composite: Net
- YTD+6.7%index +1.0%
- 1Y+6.3%index −2.7%
- 3Y · /yr+14.4%index +15.3%
- 5Y · /yr+1.5%index +4.9%
- 10Y · /yr+11.4%index +11.8%
- Inception · /yr+13.2%index +9.7%
Index: Russell Midcap Growth Index
| YTD | 1Y | 3Yper year | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|---|---|
| Artisan Partners U.S. Mid‑Cap Growth Strategy | +6.7% | +6.3% | +14.4% | +1.5% | +11.4% | +13.2% |
| Russell Midcap Growth Index | +1.0% | −2.7% | +15.3% | +4.9% | +11.8% | +9.7% |
Calendar years
- 2025+15.0%
- 2024+12.2%
- 2023+24.3%
- 2022−36.6%
- 2021+10.7%
Disclaimer
These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
During the quarter, we initiated new positions in Manhattan Associates, Okta and Clean Harbors.
We exited the position as a weaker quarter and increased uncertainty around the timing and scale of its FTAI Power opportunity reduced our conviction.
We initiated a GardenSM position late last quarter and added to it on the pullback.
During the quarter, we initiated new positions in Manhattan Associates, Okta and Clean Harbors.
we exited our small GardenSM position as several important pipeline catalysts have either been unsuccessful or shifted further out, reducing the potential for near-term upside.
We added to the position during the recent pullback.
We believe RBC has a multi-year growth runway across aerospace, defense and industrial markets, and we added to the position following the pullback.
We added to our GardenSM position during the pullback.
We trimmed the position as questions around growth of the Decipher® test are likely to persist until newer products become more meaningful contributors.
We exited the position to consolidate our AI infrastructure exposure into higher- conviction opportunities.
During the quarter, we initiated new positions in Manhattan Associates, Okta and Clean Harbors.
We trimmed the position following strong share-price appreciation.
we reduced the position following the recent rally as valuation became less compelling and near-term catalysts appeared more limited.
We expect the acquisition to accelerate Lattice’s profit cycle, and we added to the position following the pullback.
Following strong share-price appreciation, we moved to HarvestSM the position based on our valuation framework.
and added to the position during the quarter.
We trimmed the position during the quarter due to the stock’s recent strong performance.
During the quarter, we initiated new positions in Entegris, Modine Manufacturing and C.H. Robinson Worldwide.
While strong bookings and accelerating revenue continue to support our long-term investment thesis, we began harvesting the position as we reallocated capital within the defense sector.
We exited the position as increasing competition in the insulin pump market has reduced visibility into the company’s medium-term growth and market share outlook.
We initiated a position as the company appears to be in the early stages of a profit cycle driven by improving freight market conditions, ongoing productivity gains and continued execution of its multiyear lean operational transformation.
We exited the position as the profit cycle matured and recent results suggested that the strongest period of earnings momentum is likely behind the company.
During the quarter, we initiated new positions in Entegris, Modine Manufacturing and C.H. Robinson Worldwide.
In addition to Lattice Semiconductor and Comfort Systems, we also added to Guardant Health, Teledyne Technologies and Tradeweb Markets during the quarter.
Also held
Its investment theses
- Twist Bioscience CorporationSep 2026Twist Bioscience Corporation uses a proprietary DNA writing platform and is benefiting from AI-enabled drug discovery and strong revenue growth.
- Cloudflare, Inc.Sep 2026Cloudflare, Inc. runs an integrated global cloud platform and is expected to benefit from cybersecurity and AI-enabled application demand.
- RBC Bearings IncorporatedSep 2026RBC Bearings Incorporated has a multi-year growth runway supported by its specialty components exposure in aerospace, defense and industrial markets.
- Veracyte, Inc.Sep 2026Veracyte, Inc. is positioned to benefit from expanding precision oncology adoption, with additional growth potential from Prosigna.
- Lattice Semiconductor CorporationSep 2026Lattice Semiconductor Corporation is building a broader AI data center control platform through its AMI acquisition and strong FPGA demand.
- Manhattan Associates, Inc.Sep 2026Manhattan Associates, Inc. offers supply chain and warehouse software and has an emerging agentic AI monetization opportunity.
- Okta, Inc.Sep 2026Okta, Inc. is reaccelerating on enterprise demand and may gain an additional growth driver from securing AI agents.
- Clean Harbors, Inc.Sep 2026Clean Harbors, Inc. benefits from a profit cycle tied to industrial recovery, PFAS remediation demand and long-term data center opportunities.
- Compass, Inc.Sep 2026Compass, Inc. combines real estate brokerage with technology and has upside from scale, synergies and an eventual housing recovery.
- Twilio Inc.Sep 2026Twilio Inc. should benefit from rising voice AI adoption, deeper product mix and an attractive long-term margin opportunity.