Artisan Small Cap Fund Sold Integer Holdings (ITGR) as Thesis Did Not Materialize

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Soumya Eswaran

Tue, March 17, 2026 astatine 8:57 AM CDT 3 min read

Artisan Partners, an concern absorption company, released its fourth-quarter 2025 capitalist missive for “Artisan Small Cap Fund”. A transcript of the missive tin beryllium downloaded here. The Fund seeks to put successful companies that person franchise characteristics, with beardown net trajectories, and are trading astatine a discount to the estimated backstage marketplace value. Despite beardown results successful 2025, volatility was elevated, and sentiment shifted frequently, influenced by governmental developments successful the US, evolving commercialized argumentation rhetoric, changing expectations for monetary policy, and ongoing geopolitical tensions. Against this backdrop, the Fund posted beardown implicit returns successful the 4th quarter, outperforming some the Russell 2000® Growth Index and the Russell 2000® Index. The portfolio delivered beardown results successful the 4th crossed each segments. In contrast, for the afloat year, the Fund generated beardown results but trailed some the indexes. In Q4 2025, the marketplace enactment shifted backmost to companies with durable nett cycles. Moving to 2026, the steadfast continues to absorption connected its proven method of identifying nett cycles successful franchise companies astatine tenable valuations. Please reappraisal the Fund’s apical 5 holdings to summation insights into their cardinal selections for 2025.

In its fourth-quarter 2025 capitalist letter, Artisan Small Cap Fund highlighted stocks similar Integer Holdings Corporation (NYSE:ITGR). Integer Holdings Corporation (NYSE:ITGR) is simply a aesculapian instrumentality declaration improvement and manufacturing company. On March 16, 2026, Integer Holdings Corporation (NYSE:ITGR) banal closed astatine $84.12 per share. One-month instrumentality of Integer Holdings Corporation (NYSE:ITGR) was -3.99%, and its shares mislaid 31.94% implicit the past 52 weeks. Integer Holdings Corporation (NYSE:ITGR) has a marketplace capitalization of $2.9 billion.

Artisan Small Cap Fund stated the pursuing regarding Integer Holdings Corporation (NYSE:ITGR) successful its 4th fourth 2025 capitalist letter:

"Along with Insmed, we besides ended our concern campaigns in Integer Holdings Corporation (NYSE:ITGR) and SharkNinja during the quarter. Integer is simply a aesculapian instrumentality declaration shaper specializing successful implantable technologies, transcatheter therapies and transportation systems. We initially expected beardown net maturation driven by dependable demand, accrued outsourcing and borderline expansion. However, we exited our presumption this 4th arsenic the thesis did not materialize. Revenue slowed much than anticipated, and margins failed to improve. This, combined with a enactment modulation from along-tenured well-respected CEO to a caller interior CEO amid a slowing nett cycle, accrued our concerns."

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