Overview
- Aristotle Atlantic reported Q3 returns of 7.22% gross (7.10% net) for Core Equity versus the S&P 500’s 8.12% and 9.76% gross (9.61% net) for Large Cap Growth versus the Russell 1000 Growth’s 10.51%, citing security selection as the key drag.
- Core Equity exited Halliburton to fund Baker Hughes based on expectations for prolonged U.S. onshore activity and pricing weakness in completion and pumping.
- Core Equity sold Becton, Dickinson after a weak fiscal quarter, pointing to NIH funding cuts, tariff effects, lowered guidance, and uncertainty around divestiture valuations.
- Large Cap Growth sold Adobe, warning that competition from AI startups and hyperscalers could pressure seats, pricing, and Digital Media ARR growth, while emphasizing conviction in Shopify’s growth and AI-driven product roadmap.
- Artisan Partners’ Artisan Small Cap Fund added to Installed Building Products and initiated positions in Cognex and Waystar, citing improving residential trends, AI-enabled opportunities in machine vision, and potential share gains in healthcare revenue cycle software.