Artisan Fund Sells Ferguson Stake as Shares Soar 44.09%
Artisan Fund said in its Q4 2025 letter that it sold its stake in Ferguson as valuation rose and risk-reward was less compelling versus other housing names. Ferguson shares have climbed 44.09% over the past 52 weeks, and its $50.5 billion market capitalization underscores its scale in plumbing and HVAC.
1. Artisan's Q4 2025 Portfolio Update
In its fourth-quarter 2025 letter, Artisan Mid Cap Fund reported net returns of -0.44% for its Investor Class versus -3.70% for the Russell Midcap Growth Index. The fund highlighted exits in several holdings, including Ferguson, as part of its portfolio rebalancing.
2. Reasons Behind the Exit
Artisan noted that Ferguson’s share valuation had risen, making its risk-reward profile less attractive relative to other construction and housing-related names. The fund cited stronger opportunities elsewhere and opted to redeploy capital into names trading at more attractive discounts.
3. Ferguson's Key Metrics
On February 23, 2026, Ferguson closed at $251.31 per share, with a one-month return of -0.10% and a 52-week gain of 44.09%. The company holds a $50.458 billion market capitalization and remained in 84 hedge fund portfolios at year-end, down from 87 in the prior quarter.