Guidewire (GWRE) Lost Some Momentum in Q4 after a Strong Run

Core Insights - Artisan Small Cap Fund aims to invest in companies with franchise characteristics, strong earnings trajectories, and trading at a discount to estimated private market value [1] - The Fund experienced strong absolute returns in Q4 2025, outperforming both the Russell 2000® Growth Index and the Russell 2000® Index, despite elevated volatility and shifting market sentiment [1] - For the full year 2025, the Fund generated strong results but underperformed relative to both indexes [1] Company Highlights - Guidewire Software, Inc. (NYSE:GWRE) is a leading provider of cloud-based software for property and casualty insurance companies, with a market capitalization of $13.751 billion [2] - Guidewire Software, Inc. delivered a 32.26% return in the past month but saw a decline of 15.47% over the past twelve months [2] - In Q4 2025, Guidewire was noted as a detractor for the Fund, losing momentum after outperforming in the first three quarters of the year [3] - The company has maintained a strong profit cycle driven by insurance carrier modernization, and the Fund trimmed its position in Guidewire into strength, holding a medium-sized position as valuations became more reasonable [3]