Core Insights - Artisan Partners' "Artisan Small Cap Fund" reported strong performance in Q3 2025, with major US indices reaching record highs and the fund's Investor Class returning 8.69% [1] - Insmed Incorporated (NASDAQ:INSM) emerged as a significant contributor to the fund's performance, with a one-month return of 15.07% and a remarkable 190.08% increase over the past 52 weeks [2][3] Fund Performance - The Artisan Small Cap Fund's Investor Class fund ARTSX returned 8.69%, Advisor Class fund APDSX returned 8.75%, and Institutional Class fund APHSX returned 8.73% in Q3 2025 [1] - The Russell 2000 Growth Index outperformed the fund with a return of 12.19% during the same period [1] Insmed Incorporated Highlights - Insmed is a biopharmaceutical company focused on serious pulmonary diseases, with its lead product ARIKAYCE® treating lung infections resistant to standard therapies [3] - The company received FDA approval for Brinsupri™, a once-daily oral treatment for non-cystic fibrosis bronchiectasis, addressing a significant unmet medical need with over one million diagnosed patients in the US, Europe, and Japan [3] - Insmed's market capitalization reached $41.209 billion as of November 14, 2025, with shares closing at $193.22 [2] Investment Sentiment - Insmed was held by 82 hedge fund portfolios at the end of Q2 2025, an increase from 64 in the previous quarter, indicating growing interest among institutional investors [4] - Despite Insmed's potential, some analysts suggest that certain AI stocks may offer greater upside potential with less downside risk [4]

Group 1: Artisan Mid Cap Fund Performance - Artisan Mid Cap Fund's Investor Class fund ARTMX returned 8.80%, Advisor Class fund APDMX also posted a return of 8.80%, and Institutional Class fund APHMX returned 8.83% in Q3 2025, significantly outperforming the Russell Midcap Growth Index which returned 2.78% [1] - The strong performance was primarily driven by holdings in the health care sector [1] Group 2: Insmed Incorporated Overview - Insmed Incorporated (NASDAQ:INSM) is a biopharmaceutical company focused on developing therapeutic products for serious and rare diseases, with a one-month return of 11.47% and a 52-week gain of 110.54% [2] - As of October 14, 2025, Insmed's stock closed at $161.38 per share, with a market capitalization of $34.112 billion [2] Group 3: Insmed's Product Pipeline and Market Potential - Insmed's lead product, ARIKAYCE®, is an inhaled antibiotic for lung infections resistant to standard therapies, and the company recently received FDA approval for Brinsupri™, a once-daily oral treatment for non-cystic fibrosis bronchiectasis [3] - Brinsupri™ addresses a significant unmet need with over one million diagnosed patients in the US, Europe, and Japan, and is expected to see rapid adoption [3] - Insmed has a promising pipeline, including a third de-risked drug candidate with multibillion-dollar potential [3] Group 4: Hedge Fund Interest in Insmed - At the end of Q2 2025, 82 hedge fund portfolios held Insmed Incorporated (NASDAQ:INSM), an increase from 64 in the previous quarter [4]