TopBuild Corp

• AP Artisan Partners Artisan Global Discovery Fund Quarterly Commentary ↗ Artisan Global Discovery Fund added to Sea, Spotify, Baker Hughes and ServiceTitan after share-price weakness, while trimming Coherent, Babcock, iRhythm and MACOM on valuation discipline. The fund initiated Texas Roadhouse, TopBuild and SailPoint, and exited Nemetschek and Samsara as near-term growth prospects and catalysts weakened. Q4 2025 0A3T ALAB $66BARGNF $59B +13
• AP Artisan Partners Artisan Global Discovery Fund Quarterly Commentary ↗ Artisan Global Discovery Fund trimmed Twist Bioscience and Insmed, added to Lattice Semiconductor and Babcock, and exited ROBLOX, Colliers International and MongoDB as valuations, execution risks and competitive conditions changed. The portfolio initiated Entegris, Cellebrite and C.H. Robinson, while retaining emphasis on AI infrastructure, health care innovation and identifiable profit cycles. Q2 2026 0HQW ALAB $66BAS $16B +13
• Patient Capital Management 2Q26 Portfolio Activity & Attribution ↗ Opportunity Equity added Adyen, Global Payments, Genius Sports, Fidelity Wise Origin Bitcoin Fund and QXO preferred securities while exiting IBIT, Noble and Dave & Buster's. The strategy argues that depressed expectations create value in health care, payments, biotech and selected software, while retaining conviction in QXO's building-products consolidation strategy. second quarter of 2026 ADBE $90BADYEN $31BBIIB $33B +9

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