Artisan Mid Cap Fund Shows Mixed Results Amid Volatile Market

Milwaukee, WI – Artisan Partners, an investment management company, has released its second-quarter 2025 investor letter for the Artisan Mid Cap Fund, highlighting a mixed performance amid global market volatility.

In the second quarter, the fund’s Investor Class (ARTMX) recorded a return of 14.40%, while the Advisor Class (APDMX) saw a slightly better return of 14.45%. The Institutional Class (APHMX) returned 14.50%. These figures fall short of the Russell Midcap Growth Index’s return of 18.20% during the same period.

Global markets were marked by significant fluctuations in Q2, with assets moving from double-digit declines to double-digit gains. Artisan Mid Cap Fund’s letter emphasized their top holdings, including Samsara Inc. (NYSE:IOT), which offers solutions for connecting physical operations data to its cloud.

As of August 7, 2025, Samsara’s stock closed at $36.77 per share with a market capitalization of approximately $20.934 billion. However, over the past month, the stock returned -2.44%, and its value decreased by 4.17% over the last year.

Artisan’s letter noted, “Along with Snowflake, Baker Hughes and Roblox, we also added to Samsara Inc. during the quarter. Samsara is a software platform for asset-intensive industries like trucking and construction, providing real-time data to enhance asset tracking and performance measurement.”

Despite strong quarterly results reported in June, where revenues grew 32% year-over-year, investor concerns about recent contract delays tied to uncertainty surrounding new trade tariffs caused the stock to drop. Nonetheless, Artisan stated that they took advantage of the lower valuation to increase their position in the company.

As of Q1 2025, 35 hedge fund portfolios included Samsara, a decrease from 40 in the previous quarter. The company’s reported revenue for Q1 stood at $367 million, showcasing a significant growth of 31% compared to Q1 2024.

This mixed performance indicates that while Artisan Mid Cap Fund is seeing some positive indicators, uncertainties remain in the market impacting stock prices.