Core Insights - Artisan Small Cap Fund reported 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 influenced by various political and economic factors [1] Group 1: Fund Performance - The Fund seeks to invest in companies with franchise characteristics, strong earnings trajectories, and trading at a discount to estimated private market value [1] - In Q4 2025, the market leadership shifted back to companies with durable profit cycles, while the Fund's full-year performance trailed both indexes [1] Group 2: Stevanato Group S.p.A. Analysis - Stevanato Group S.p.A. (NYSE:STVN) is highlighted as a key holding, providing specialty glass and plastic packaging to the healthcare industry [2][3] - As of March 16, 2026, Stevanato Group's stock closed at $15.35 per share, with a one-month return of -3.82% and a 12-month return of 29.46% [2] - The stock faced challenges due to market concerns regarding Eli Lilly's pending launch of an oral GLP-1, impacting Stevanato's profit cycle related to vial and syringe production [3] - Despite the challenges, the company remains a focus for investment due to anticipated growth in liquid-based biological drugs and increased drug volume from Medicare and Medicaid coverage of GLP-1s [3]

Artisan Partners, an investment management company, released its fourth-quarter 2025 investor letter for “Artisan Small Cap Fund”. A copy of the letter can be downloaded here. The Fund seeks to invest in companies that possess franchise characteristics, with strong earnings trajectories, and are trading at a discount to the estimated private market value. Despite strong results in 2025, volatility was elevated, and sentiment shifted frequently, influenced by political developments in the US, evolving trade ...

Group 1 - Artisan Partners' "Artisan Small Cap Fund" reported strong performance in Q3 2025, with the Investor Class fund returning 8.69%, Advisor Class fund at 8.75%, and Institutional Class fund at 8.73%, while the Russell 2000 Growth Index returned 12.19% [1] - Major US indices, including Russell 1000®, Russell Midcap®, and Russell 2000®, reached record highs during the quarter, contributing to a double-digit year-to-date gain for global equities [1] Group 2 - Installed Building Products, Inc. (NYSE:IBP) was highlighted as a key stock, with a one-month return of -8.20% and a 52-week gain of 18.29%, closing at $244.76 per share with a market capitalization of $6.639 billion on November 17, 2025 [2] - Artisan Small Cap Fund expressed confidence in IBP's growth potential, citing factors such as rising new home completions, geographic expansion, and increased revenue per project through cross-selling [3] - The company was moved to the CropSM prior to its earnings announcement, indicating a belief that the worst of the residential market challenges may be behind it, with expectations for improved residential performance and new commercial market opportunities [3]