Artisan Partners released its third-quarter 2025 investor letter, with its mid-cap fund posting strong returns. The fund’s Investor Class, Advisor Class, and Institutional Class funds returned 8.80%, 8.80%, and 8.83% respectively, outperforming the Russell Midcap Growth Index. Health care sector holdings led to significant outperformance. Check the fund’s top five holdings for insights.

Arista Networks Inc (NYSE:ANET) was highlighted in Artisan Mid Cap Fund’s investor letter. The technology company saw a one-month return of -2.24% and gained 40.78% over the last 52 weeks. With a market capitalization of $180.209 billion, Arista Networks Inc (NYSE:ANET) closed at $143.38 per share on October 15, 2025.

In the third quarter 2025 investor letter, Artisan Mid Cap Fund mentioned trimming positions in Arista Networks Inc (NYSE:ANET), among others. The company leads in cloud networking equipment for data centers and has shown gains in AI cloud environments. Position trimming was based on valuation considerations and exceeding the fund’s mid-cap mandate.

Arista Networks Inc (NYSE:ANET) is not among the 30 most popular stocks among hedge funds. While 81 hedge fund portfolios held the stock at the end of the second quarter, we see greater potential in other AI stocks with less downside risk. For an undervalued AI stock with potential benefits from Trump-era tariffs, check out our report on the best short-term AI stock.

Read more at Yahoo Finance: Artisan Mid Cap Fund Trimmed Arista Networks (ANET) Post Liberation Day Rally