Artisan Partners, an investment management firm, issued its first-quarter 2026 investor letter for the "Artisan Mid Cap Value Fund". A copy of this letter is available for download here. In Q1 2026, the portfolio underperformed the benchmark Russell Midcap Value Index as the market favored momentum-driven stocks over quality factors. Some holdings faced company-specific setbacks and negative sentiment. The Fund's Investor Class: ARTQX returned -4.93%, Advisor Class: APDQX declined by -4.90%, and Institutional Class: APHQX fell by -4.97%, all trailing the Index's 3.68% gain. The equity market in the quarter was mixed, with mid- and small-cap indices showing resilience despite lagging large-cap growth stocks. Volatility increased, initially fueled by interest in AI and private credit, but escalated after the outbreak of war in Iran, leading to rising oil prices. Sector performance varied, with energy leading the gains. The Fund continues to seek companies capable of value growth during market dislocations at attractive entry points. Also, review the Fund's top five holdings to see its best picks for 2026.
In its first-quarter 2026 investor letter, Artisan Mid Cap Value Fund highlighted Gartner, Inc. (NYSE:IT). Established in 1979, Gartner, Inc. (NYSE:IT) is a research and advisory company that provides business and technology insights to help businesses make informed decisions. On July 7, 2026, Gartner, Inc. (NYSE:IT) closed at $140.80 per share. One-month return of Gartner, Inc. (NYSE:IT) was -9.11%, and its shares lost 64.30% over the past 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $9.43 billion.
Artisan Mid Cap Value Fund stated the following regarding Gartner, Inc. (NYSE:IT) in its Q1 2026 investor letter:
"Among the biggest decliners were ICON, Humana, Gartner, Inc. (NYSE:IT) and Pinterest, each of which dropped by 30% or more during the quarter. Gartner, a technology and business advisory firm, declined following signs of slowing growth and a weaker-than-expected outlook for 2026. Its core research business has been affected by several cyclical headwinds, including US government cost-cutting, uncertainty around trade policy and longer sales cycles. At the same time, some investors have become concerned about the potential long-term impact of artificial intelligence on Gartner's business model. While we take these risks seriously, we believe the company's current challenges are primarily cyclical, and any meaningful disruption from AI is likely to play out over a longer time horizon. Gartner continues to generate strong free cash flow, maintains a solid balance sheet and has been returning capital to shareholders, including approximately $2 billion of share repurchases in 2025. At current levels, we believe the stock appears attractively valued."
In its first-quarter 2026 investor letter, Artisan Mid Cap Value Fund highlighted Gartner, Inc. (NYSE:IT). Established in 1979, Gartner, Inc. (NYSE:IT) is a research and advisory company that provides business and technology insights to help businesses make informed decisions. On July 7, 2026, Gartner, Inc. (NYSE:IT) closed at $140.80 per share. One-month return of Gartner, Inc. (NYSE:IT) was -9.11%, and its shares lost 64.30% over the past 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $9.43 billion.
Artisan Mid Cap Value Fund stated the following regarding Gartner, Inc. (NYSE:IT) in its Q1 2026 investor letter:
"Among the biggest decliners were ICON, Humana, Gartner, Inc. (NYSE:IT) and Pinterest, each of which dropped by 30% or more during the quarter. Gartner, a technology and business advisory firm, declined following signs of slowing growth and a weaker-than-expected outlook for 2026. Its core research business has been affected by several cyclical headwinds, including US government cost-cutting, uncertainty around trade policy and longer sales cycles. At the same time, some investors have become concerned about the potential long-term impact of artificial intelligence on Gartner's business model. While we take these risks seriously, we believe the company's current challenges are primarily cyclical, and any meaningful disruption from AI is likely to play out over a longer time horizon. Gartner continues to generate strong free cash flow, maintains a solid balance sheet and has been returning capital to shareholders, including approximately $2 billion of share repurchases in 2025. At current levels, we believe the stock appears attractively valued."
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