Here’s Why Artisan Reduced Its Stake in Everpure (P)

Here’s Why Artisan Reduced Its Stake in Everpure (P)

Wed, September 9, 2026 at 4:13 PM GMT+3 3 min read

• P -1.10%

Artisan Partners, an investment management company, released its second-quarter 2026 investor letter for the "Artisan Mid Cap Fund". The letter can be downloaded here. Global equities rebounded sharply in Q2 2026, recovering from March lows as resilient economic data, strong corporate earnings, and continued AI investment improved investor sentiment despite inflation concerns, delayed rate cuts, and geopolitical uncertainty. The portfolio generated strong absolute returns and outperformed the Russell Midcap® Growth Index, benefiting from semiconductor exposure within IT and strong stock selection in health care and consumer discretionary. Its Investor Class: ARTMX returned 17.86%, Advisor Class: APDMX returned 17.88%, and Institutional Class: APHMX returned 17.93% vs. a 14.55% gain for the index. Healthcare was the largest contributor, with biotech holdings driving gains, while consumer holdings also performed well. Software exposure, aerospace and defense holdings, and communication services positions weighed on relative performance. The fund continues to focus on identifying high-quality growth companies with durable secular trends and attractive valuation opportunities. Please check the fund's top five holdings for its best picks in 2026.

In its second-quarter 2026 investor letter, Artisan Mid Cap Fund highlighted Everpure, Inc. (NYSE:P). Everpure, Inc. (NYSE:P) is a technology company specializing in enterprise-class data services and cloud storage solutions. On September 08, 2026, Everpure, Inc. (NYSE:P) closed at $101.14 per share. Over the past month, Everpure, Inc. (NYSE:P) declined 9.21%, while its shares gained 24.63% over the past 52 weeks. Everpure, Inc. (NYSE:P) has a market capitalization of $33.70 billion, and its stock has traded within a 52-week range of $56.78 and $119.10.

Artisan Mid Cap Fund stated the following regarding Everpure, Inc. (NYSE:P) in its Q2 2026 investor letter:

"In addition to Twist Bioscience, notable trims during the quarter included L3Harris Technologies, MongoDB and Everpure, Inc. (NYSE:P). Everpure (formerly Pure Storage) is redefining enterprise data storage with its all-flash architecture, which continues to drive market share gains. However, rising NAND input costs have narrowed the historical cost advantage over hard disk drives, creating a more challenging near-term demand outlook as customers pull forward purchases ahead of further price increases. While we continue to believe the long-term transition toward all-flash storage remains intact, we reduced the position as the near-term risk/reward became less favorable."

Everpure, Inc. (NYSE:P) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 51 hedge fund portfolios held Everpure, Inc. (NYSE:P) at the end of the second quarter which was 47 in the previous quarter. While we acknowledge the potential of Everpure, Inc. (NYSE:P) 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 a previous article, we covered Everpure, Inc.'s (NYSE:P) addition to the S&P 500 and how the index rebalancing will impact investors. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

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This article is originally published at Insider Monkey.