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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 Wingstop Inc. (NASDAQ:WING). Wingstop Inc. (NASDAQ:WING) is a fast casual restaurant operator under the Wingstop brand headquartered in Dallas, Texas. On May 8, 2026, Wingstop Inc. (NASDAQ:WING) closed at $129.67 per share. One-month return of Wingstop Inc. (NASDAQ:WING) was -30.40%, and its shares lost 54.65% over the past 52 weeks. Wingstop Inc. (NASDAQ:WING) has a market capitalization of $3.53 billion.
Artisan Mid Cap Fund stated the following regarding Wingstop Inc. (NASDAQ:WING) in its Q1 2026 investor letter:
"Notable trims during the quarter were Coherent, Wingstop Inc. (NASDAQ:WING) and Astera Labs. Wingstop is a quick-service restaurant chain focused on chicken wings with a highly franchised, asset-light model. We reduced the position as near-term fundamentals have softened, amid negative same-store sales reflecting continued pressure on its core lower income consumer. While longer term opportunities remain, driven by initiatives such as Smart Kitchen, a loyalty program launch and new advertising campaigns, we have lower conviction in the near-term profit cycle and resized the position accordingly."
Wingstop Inc. (NASDAQ:WING) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 49 hedge fund portfolios held Wingstop Inc. (NASDAQ:WING) at the end of the fourth quarter, up from 39 in the previous quarter. In Q1 2026, Wingstop Inc.'s (NASDAQ:WING) total revenue increased 7.4% year-over-year to $183.7 million. While we acknowledge the potential of Wingstop Inc. (NASDAQ:WING) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In another article, we covered Wingstop Inc. (NASDAQ:WING) and shared a bullish thesis on the company. 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.