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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 Arthur J. Gallagher & Co. (NYSE:AJG). Arthur J. Gallagher & Co. (NYSE:AJG) is a leading insurance brokerage and risk management firm. On May 8, 2026, Arthur J. Gallagher & Co. (NYSE:AJG) closed at $198.87 per share. One-month return of Arthur J. Gallagher & Co. (NYSE:AJG) was -10.62%, and its shares lost 39.97% over the past 52 weeks. Arthur J. Gallagher & Co. (NYSE:AJG) has a market capitalization of $51.09 billion.
Artisan Mid Cap Fund stated the following regarding Arthur J. Gallagher & Co. (NYSE:AJG) in its Q1 2026 investor letter:
"We also added to Edwards Lifesciences, Waters and Arthur J. Gallagher & Co. (NYSE:AJG) during the quarter. Arthur J. Gallagher is a leading global insurance brokerage and risk management firm. We view it as a high-quality business with visible organic growth, supported by its diverse wholesale, reinsurance and claims operations. The company also has a strong acquisition record, and we expect its AssuredPartners acquisition to deliver meaningful synergies as integration moves forward. We added to the position on recent weakness as organic growth shows signs of stabilization and margin expansion opportunities emerge, including from integration and AI-related initiatives."
Arthur J. Gallagher & Co. (NYSE:AJG) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 50 hedge fund portfolios held Arthur J. Gallagher & Co. (NYSE:AJG) at the end of the fourth quarter, up from 49 in the previous quarter. While we acknowledge the potential of Arthur J. Gallagher & Co. (NYSE:AJG) 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 Arthur J. Gallagher & Co. (NYSE:AJG) and shared the list of fastest growing dividend stocks to buy. 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.