Here’s Why Artisan Small Cap Fund Trimmed its Position in SharkNinja (SN)

Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” first quarter 2025 investor letter. A copy of the letter can be downloaded here. Investor sentiment at the beginning of 2025 was positive. In 2024, US equities once again outperformed their global counterparts, and there was optimism that the new Republican administration would strengthen the idea of US exceptionalism. However, the first quarter did not meet those expectations. In the quarter, its Investor Class fund ARTSX returned -10.14%, Advisor Class fund APDSX posted a return of -10.10%, and Institutional Class fund APHSX returned -10.07%, compared to a return of -11.12% for the Russell 2000 Growth Index. Markets experienced weakness due to rising fiscal and geopolitical uncertainties during the quarter. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2025.

In its first-quarter 2025 investor letter, Artisan Small Cap Fund highlighted stocks such as SharkNinja, Inc. (NYSE:SN). SharkNinja, Inc. (NYSE:SN) is a product design and technology company that provides cleaning, cooking, beverage, food preparation, and beauty appliances. The one-month return of SharkNinja, Inc. (NYSE:SN) was 15.26%, and its shares gained 21.26% of their value over the last 52 weeks. On June 2, 2025, SharkNinja, Inc. (NYSE:SN) stock closed at $92.30 per share, with a market capitalization of $13.018 billion.

Artisan Small Cap Fund stated the following regarding SharkNinja, Inc. (NYSE:SN) in its Q1 2025 investor letter:

“Along with trims in Veracyte and Guidewire in the quarter, we continued to trim our position in SharkNinja. The company is a leading household consumer products company. Its Shark brand focuses on the cleaning category and, more recently, beauty. Its Ninja brand focuses on food preparation and cooking. We believe a healthy combination of market share gains within existing categories, new category entries and international expansion will drive growth. Given an elevated valuation after a period of strong performance and growing concerns around tariff headwinds, we trimmed the position.”

SharkNinja, Inc. (NYSE:SN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 69 hedge fund portfolios held SharkNinja, Inc. (NYSE:SN) at the end of the first quarter, which was 63 in the previous quarter. In the first quarter, SharkNinja, Inc.’s (NYSE:SN) net sales increased 14.7% year-over-year to more than $1.2 billion. While we acknowledge the potential of SharkNinja, Inc. (NYSE:SN) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains.

In another article, we covered SharkNinja, Inc. (NYSE:SN) and shared the list of best young stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q1 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.