Artisan Mid Cap Value Fund initiated a new position in IQVIA Holdings during the first quarter of 2026, viewing recent share price weakness driven by AI disruption fears and soft CRO demand as a potential buying opportunity. The fund believes AI concerns are likely overstated given IQVIA's proprietary data assets and domain expertise, which position the company as a potential beneficiary of AI adoption rather than a casualty. IQVIA combines a leading global contract research organization franchise with a unique healthcare data asset, creating a diversified model with both cyclical and recurring revenue streams. At 15 times forward earnings and a high-single-digit free cash flow yield, the stock reflects low expectations despite resilient fundamentals. The fund's investor class returned negative 4.93% in the quarter, trailing the Russell Midcap Value Index's 3.68% gain.
IQVIA Holdings IncFund initiated position citing undervaluation at 15x earnings and high-single-digit FCF yield, viewing AI fears as overstated.