LongNVDAJun 2026
NVIDIA Corporation
NVIDIA is a major holding within Artisan's Compute Infrastructure theme. Artisan believes hyperscaler capital expenditures are on a path from roughly $146 billion in 2021 toward…
Artisan Focus Fund
Focused thematic equity strategy using idea generation, systematic company analysis and proactive risk management.$1.4B AUM11 published ideas
The Artisan Focus Fund is managed by Christopher Smith and the Antero Peak Group. Its process seeks companies where structural change is improving economics faster than market expectations, with particular attention to inflecting growth, rising returns on invested capital and major capital formation cycles. The portfolio is concentrated and constructed independently of benchmark weights.
Ideas from Artisan Focus Fund
LongBNYJun 2026
The Bank of New York Mellon Corporation
BNY is another holding through which Artisan expresses its Evolving Financials theme. The thesis is that years of heavy regulation, muted capital-markets activity and pressure on…
LongADIJun 2026
Analog Devices, Inc.
Analog Devices is another holding tied to Artisan's Compute Infrastructure theme. The fund believes the current AI investment cycle is much larger than the prior…
LongSTXJun 2026
Seagate Technology Holdings plc
Seagate is part of Artisan's Compute Infrastructure theme and contributed meaningfully during the quarter. Artisan views the AI infrastructure cycle as a broad physical-computing…
LongAMATJun 2026
Applied Materials, Inc.
Applied Materials is held within Artisan's Compute Infrastructure theme. The fund sees AI infrastructure as a large and still-expanding capital formation cycle that is broadening…
LongTSMJun 2026
Taiwan Semiconductor Manufacturing Company Limited
TSMC is part of Artisan's Compute Infrastructure theme, which targets the physical infrastructure required for the next generation of computing. The fund believes AI has become a…
LongALABJun 2026
Astera Labs, Inc.
Astera Labs is included in Artisan's Compute Infrastructure holdings. The fund argues that the AI buildout has expanded the opportunity beyond basic networking into the broader…
LongGSJun 2026
The Goldman Sachs Group, Inc.
Goldman Sachs is a key expression of Artisan's new Evolving Financials theme. The fund expects recovering capital-markets activity to combine with a potentially friendlier…
LongCATJun 2026
Caterpillar Inc.
Caterpillar is positioned to benefit from Artisan's US Output theme, which reframes deglobalization as a sustained rebuilding of domestic productive capacity. The fund points to…
LongRR.LJun 2026
Rolls-Royce Holdings plc
Rolls-Royce is positioned within Artisan's aerospace opportunity and benefited from favorable aerospace fundamentals in Q2. The fund believes years of underinvestment and damage…
LongGEJun 2026
GE Aerospace
GE Aerospace is another holding benefiting from the fund's aerospace theme. Artisan sees a structurally constrained production ecosystem in which rebuilding capacity is difficult…
Letters covered
- Artisan Focus Fund Quarterly CommentaryJune 30, 2026
Source PDFs are not republished here; only extracted ideas and quotes.