Artisan Partners, an investment management company, released its fourth-quarter 2025 investor letter for “Artisan Mid 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. US equities ended a record year with robust fourth-quarter gains. The Fund’s Investor Class, ARTMX, delivered -0.44%, the Advisor Class, APDMX, delivered -0.37%, and the Institutional Class, APHMX, delivered -0.35% in the fourth quarter compared to -3.70% for the Russell Midcap® Growth Index. Continued strength in information technology (IT) and health care contributed to the performance during the quarter. Please review the Fund’s top five holdings to gain insights into their key selections for 2025.
In its fourth-quarter 2025 investor letter, Artisan Mid Cap Fund highlighted stocks like Ferguson Enterprises Inc. (NYSE:FERG). Ferguson Enterprises Inc. (NYSE:FERG) is a leading distributor of plumbing, HVAC, waterworks, and related building materials. On February 23, 2026, Ferguson Enterprises Inc. (NYSE:FERG) stock closed at $251.31 per share. One-month return of Ferguson Enterprises Inc. (NYSE:FERG) was -0.10%, and its shares gained 44.09% over the past 52 weeks. Ferguson Enterprises Inc. (NYSE:FERG) has a market capitalization of $50.458 billion.
Artisan Mid Cap Fund stated the following regarding Ferguson Enterprises Inc. (NYSE:FERG) in its fourth quarter 2025 investor letter:
“Along with Veeva, we also ended our investment campaigns in Snowflake and Ferguson Enterprises Inc. (NYSE:FERG) during the quarter. Ferguson is a leading North American distributor of plumbing, HVAC, waterworks and related building materials. The company’s scale supports strong product availability, efficient delivery and continued investment in e-commerce, supply chain capabilities and private brands. Its history of successful tuck-in acquisitions and steady organic growth positions it to gain more share in a large, fragmented market. We exited the position as valuation moved higher and the risk-reward profile became less compelling relative to other construction and housing-related names in the portfolio.”
Ferguson Enterprises Inc. (NYSE:FERG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 84 hedge fund portfolios held Ferguson Enterprises Inc. (NYSE:FERG) at the end of the fourth quarter, compared to 87 in the previous quarter. While we acknowledge the risk and potential of Ferguson Enterprises Inc. (NYSE:FERG) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Ferguson Enterprises Inc. (NYSE:FERG) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Ferguson Enterprises Inc. (NYSE:FERG) and shared a list of best HVAC stocks to invest in. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
