Artisan Partners, an investment management company, released its first-quarter 2026 investor letter for the “Artisan Mid Cap Fund”. A copy of the letter is available to download here. In Q1 2026, the Artisan Mid Cap Fund reported negative absolute returns but slightly outperformed the Russell Midcap® Growth Index. The market favored lower volatility and income-oriented equities, with value outpacing growth significantly. Despite challenges for growth strategies, selective stock choices in sectors like industrials and healthcare provided strength, while consumer discretionary faced weaknesses. Mid- and small-cap indices showed resilience amid lagging large-cap growth stocks. The escalating conflict in Iran influenced market behavior, and AI-related investments continued to support capital spending and earnings. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Artisan Mid Cap Fund highlighted stocks like MongoDB, Inc. (NASDAQ:MDB). MongoDB, Inc. (NASDAQ:MDB) is a software company that provides a general-purpose database platform. On May 8, 2026, MongoDB, Inc. (NASDAQ:MDB) closed at $299.47 per share. One-month return of MongoDB, Inc. (NASDAQ:MDB) was 26.82%, and its shares gained 56.29% over the past 52 weeks. MongoDB, Inc. (NASDAQ:MDB) has a market capitalization of $24.07 billion.
Artisan Mid Cap Fund stated the following regarding MongoDB, Inc. (NASDAQ:MDB) in its Q1 2026 investor letter:
“Our biggest detractors in Q1 were DoorDash, MongoDB, Inc. (NASDAQ:MDB) and ROBLOX. MongoDB is a leading database software provider for modern, cloud-native applications that handle unstructured data. The company reported results ahead of expectations; however, growth in its key Atlas product modestly decelerated, and guidance fell short of elevated investor expectations, reflecting a more measured near-term outlook. Shares declined on the lack of near-term estimate upside, and we maintained the position, given our view that MongoDB will continue to gain share with rising enterprise adoption, expanding AI-related use cases and improving financial performance.”
MongoDB, Inc. (NASDAQ:MDB) is not on our list of 40 Most Popular Stocks Among Hedge Funds. According to our database, 99 hedge fund portfolios held MongoDB, Inc. (NASDAQ:MDB) at the end of the fourth quarter, up from 89 in the previous quarter. In fourth quarter of fiscal 2026, MongoDB, Inc. (NASDAQ:MDB) reported revenue of $695 million, up 27% year-over-year. While we acknowledge the risk and potential of MongoDB, Inc. (NASDAQ:MDB) 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 MongoDB, Inc. (NASDAQ:MDB) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered MongoDB, Inc. (NASDAQ:MDB) and shared a bullish thesis on the company. In its Q1 2026 investor letter, Alger Mid Cap Fund shared its optimistic views on MongoDB, Inc. (NASDAQ:MDB) citing its strong adoption and AI driven demand. In addition, please check out our hedge fund investor letters Q1 2026 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.
