Artisan Partners
Artisan Partners U.S. Mid‑Cap Growth Strategy
US Mid-cap Growth
Dec 2025 → Jun 2026
Our archive holds 3 letters from this strategy, behind 10 investment theses and positions in 29 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
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.
We reduced the position throughout the quarter and moved toward a full HarvestSM as we reassessed the long-term competitive landscape.
Although we continue to see long-term value in the platform and its user base, we exited the position and redeployed capital into other opportunities where recent pullbacks have created more attractive entry points.
We added to the position during the quarter.
In addition to Lattice Semiconductor and Comfort Systems, we also added to Guardant Health, Teledyne Technologies and Tradeweb Markets during the quarter.
In addition to Lattice Semiconductor and Comfort Systems, we also added to Guardant Health, Teledyne Technologies and Tradeweb Markets during the quarter.
However, rising NAND input costs have narrowed the historical cost advantage over hard disk drives, creating a more challenging near-term demand outlook as customers pull forward purchases ahead of further price increases.
Also held
Its investment theses
- C.H. Robinson WorldwideJun 2026C.H. Robinson Worldwide is a large logistics provider with early profit-cycle upside from freight recovery, productivity gains and AI tools.
- EntegrisJun 2026Entegris supplies semiconductor materials and filtration systems and has long-term growth potential from node transitions and memory recovery.
- Tradeweb MarketsJun 2026Tradeweb operates a large fixed-income trading platform with long-term growth from electronification and margin expansion.
- Arthur J. Gallagher & Co.Mar 2026Arthur J. Gallagher & Co. is a high-quality global insurance broker with visible organic growth, synergy potential from AssuredPartners, and emerging margin expansion opportunities.
- Tradeweb Markets IncMar 2026Tradeweb Markets Inc operates a leading electronic fixed-income marketplace with attractive valuation, share gains and electronification tailwinds supporting durable growth and margins.
- Roblox CorpDec 2025Roblox is a leading UGC platform with strong growth and operating leverage, and continued investments support long-term growth despite near-term volatility.
- Astera Labs IncDec 2025Astera Labs provides connectivity chips that alleviate data center bottlenecks and enable heterogeneous computing, offering strong long-term AI-driven growth.
- MongoDB IncDec 2025MongoDB is a leading database provider with Atlas-driven growth and share gains as enterprise adoption and AI use cases expand.
- ServiceTitanDec 2025ServiceTitan is a leading vertical software platform for the trades with subscription and usage-based revenue and significant expansion opportunities.
- Waters CorpDec 2025Waters provides chromatography and mass spectrometry tools with strong recurring revenue and tailwinds from pharma demand, replacement cycles and biologics exposure.