Artisan Small Cap Fund Trimmed SharkNinja (SN) in Q3

Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. Global equities continue to rally in the third quarter, the period with double-digit YTD gains. Major US indices like Russell 1000®, Russell Midcap®, and Russell 2000® reached record highs in the period. In the quarter, the fund’s Investor Class fund ARTSX returned 8.69%, Advisor Class fund APDSX posted a return of 8.75%, and Institutional Class fund APHSX returned 8.73%, compared to a return of 12.19% for the Russell 2000 Growth Index. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2025.

In its third-quarter 2025 investor letter, Artisan Small Cap Fund highlighted stocks such as SharkNinja, Inc. (NYSE:SN). SharkNinja, Inc. (NYSE:SN) is a product design and technology company that provides cleaning, cooking, beverage, food preparation, and beauty appliances. The one-month return of SharkNinja, Inc. (NYSE:SN) was -9.43%, and its shares lost 14.40% of their value over the last 52 weeks. On November 17, 2025, SharkNinja, Inc. (NYSE:SN) stock closed at $84.64 per share, with a market capitalization of $11.947 billion.

Artisan Small Cap Fund stated the following regarding SharkNinja, Inc. (NYSE:SN) in its third quarter 2025 investor letter:

"In addition to Insmed, mentioned previously, notable trims in the quarter included SharkNinja, Inc. (NYSE:SN) and Ascendis Pharma. SharkNinja is a leading consumer products company, with its Shark brand focused on cleaning and beauty and its Ninja brand specializing in food preparation and cooking. We trimmed our position in late 2024 and early 2025 due to elevated expectations that we believed were unlikely to be met—particularly amid rising concerns about the impact of tariffs on the company’s profit cycle. As tariff headwinds became more apparent and valuation assumptions normalized, we added back to the position. With valuation expectations elevated once again, we took the opportunity to harvest some capital this quarter."

SharkNinja, Inc. (NYSE:SN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 65 hedge fund portfolios held SharkNinja, Inc. (NYSE:SN) at the end of the second quarter, down from 69 in the previous quarter. In the third quarter of 2025, SharkNinja, Inc.'s (NYSE:SN) net sales increased 14.3% year-over-year to $1.63 billion. While we acknowledge the potential of SharkNinja, Inc. (NYSE:SN) 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 another article, we covered SharkNinja, Inc. (NYSE:SN) and shared the list of stocks Jim Cramer discussed. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None. This article is originally published at Insider Monkey.