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 stocks like MongoDB, Inc. (NASDAQ:MDB). MongoDB, Inc. (NASDAQ:MDB) is a software company that provides a general-purpose database platform. On May 8, 2026, MongoDB, Inc. (NASDAQ:MDB) closed at $299.47 per share. One-month return of MongoDB, Inc. (NASDAQ:MDB) was 26.82%, and its shares gained 56.29% over the past 52 weeks. MongoDB, Inc. (NASDAQ:MDB) has a market capitalization of $24.07 billion.
Artisan Mid Cap Fund stated the following regarding MongoDB, Inc. (NASDAQ:MDB) in its Q1 2026 investor letter:
“Our biggest detractors in Q1 were DoorDash, MongoDB, Inc. (NASDAQ:MDB) and ROBLOX. MongoDB is a leading database software provider for modern, cloud-native applications that handle unstructured data. The company reported results ahead of expectations; however, growth in its key Atlas product modestly decelerated, and guidance fell short of elevated investor expectations, reflecting a more measured near-term outlook. Shares declined on the lack of near-term estimate upside, and we maintained the position, given our view that MongoDB will continue to gain share with rising enterprise adoption, expanding AI-related use cases and improving financial performance.”
MongoDB, Inc. (NASDAQ:MDB) is not on our list of 40 Most Popular Stocks Among Hedge Funds. According to our database, 99 hedge fund portfolios held MongoDB, Inc. (NASDAQ:MDB) at the end of the fourth quarter, up from 89 in the previous quarter. In fourth quarter of fiscal 2026, MongoDB, Inc. (NASDAQ:MDB) reported revenue of $695 million, up 27% year-over-year. While we acknowledge the potential of MongoDB, Inc. (NASDAQ:MDB) 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.
