Core Insights - Artisan Partners' "Artisan Mid Cap Fund" reported strong performance in Q3 2025, with returns of 8.80% for Investor Class and Advisor Class funds, and 8.83% for Institutional Class, significantly outperforming the Russell Midcap Growth Index's 2.78% return [1] - The fund's outperformance was primarily driven by holdings in the health care sector [1] Company Highlights - Spotify Technology S.A. (NYSE:SPOT) was highlighted in the Artisan Mid Cap Fund's Q3 2025 investor letter, showing a one-month return of -3.35% but an impressive 83.89% increase over the last 52 weeks, closing at $683.51 per share with a market capitalization of $140.651 billion on October 14, 2025 [2] - Despite being a detractor in Q3, Spotify is recognized for its strong position in audio streaming and potential for monetization through pricing, advertising, and premium subscriptions, with upcoming product launches expected to drive growth [3] Market Position - Spotify ranks 25th among the 30 Most Popular Stocks Among Hedge Funds, with 111 hedge fund portfolios holding its shares at the end of Q2 2025, an increase from 106 in the previous quarter [4] - While Spotify is seen as a valuable investment, there is a belief that certain AI stocks may offer greater upside potential with less downside risk [4]

Core Insights - Montaka Global Investments released its second-quarter 2025 investor letter, emphasizing a focus on sustainably compounding its portfolio over the long term [1] - The S&P 500 experienced a double-digit drop due to Trump's 'Liberation Day' tariff policy but rebounded nearly 25%, indicating potential investment opportunities amid market volatility [1] - Montaka's portfolio is highly concentrated, with the top 10 investments representing 76% of the total portfolio [1] Company Highlights - Spotify Technology S.A. (NYSE:SPOT) was highlighted in Montaka's investor letter, showing a one-month return of 3.74% and a 52-week gain of 87.24% [2] - As of September 23, 2025, Spotify's stock closed at $718.94 per share, with a market capitalization of $147.942 billion [2] - Montaka noted the diverse nature of its portfolio, which includes companies from different sectors, such as payments, retail, asset management, and audio streaming [3] Hedge Fund Interest - Spotify ranks 25th among the 30 most popular stocks among hedge funds, with 111 hedge fund portfolios holding its shares at the end of the second quarter, an increase from 106 in the previous quarter [4] - While acknowledging Spotify's potential, there is a belief that certain AI stocks may offer greater upside potential and less downside risk [4]