Artisan Partners increased its position in Comfort Systems USA (FIX) during the second quarter of 2026, betting that data center construction will keep driving demand for the company’s HVAC services. The investment manager disclosed the move in its second-quarter 2026 investor letter for the Artisan Mid Cap Fund.
Comfort Systems USA provides mechanical and electrical installation, renovation, maintenance, and repair services to commercial, industrial, and institutional customers. The company’s shares closed at $1,610.34 on September 4, 2026, giving it a market capitalization of $56.67 billion.
What the Fund Said
In its Q2 2026 letter, Artisan Mid Cap Fund explained why it added to the position. The fund noted that data center work now makes up the majority of Comfort Systems USA’s revenue.
“Strong demand from data center construction, driven by hyperscaler customers, now accounts for a majority of its revenue,” the fund wrote. “Recent earnings results exceeded expectations, with year-over-year same-store revenue growth of 51% and margin expansion. It also raised full-year guidance.”
The fund added: “We view the company as well positioned to benefit from ongoing investment in data center infrastructure and added to the position during the quarter.”
Fund Performance
The broader fund posted strong returns in Q2 2026. Global equities rebounded from March lows as resilient economic data, strong corporate earnings, and continued AI investment improved investor sentiment.
The fund outperformed its benchmark, the Russell Midcap Growth Index. Here are the results:
| Share Class | Ticker | Q2 2026 Return |
|---|---|---|
| Investor Class | ARTMX | 17.86% |
| Advisor Class | APDMX | 17.88% |
| Institutional Class | APHMX | 17.93% |
| Russell Midcap Growth Index | — | 14.55% |
Healthcare was the largest contributor to returns, with biotech holdings driving gains. Consumer holdings also performed well. Software exposure, aerospace and defense holdings, and communication services positions weighed on relative performance.
Comfort Systems by the Numbers
The stock has been on a steep climb. Over the past 52 weeks, Comfort Systems USA shares gained 124.95%. The stock declined 3.85% over the past month.
- Market cap: $56.67 billion
- Share price (Sept. 4, 2026): $1,610.34
- 52-week gain: 124.95%
- Past-month change: -3.85%
- Same-store revenue growth (year over year): 51%
The fund’s letter highlighted the company as a notable contributor to its quarterly performance.
The Data Center Driver
Hyperscaler customers are the engine behind Comfort Systems USA’s growth, according to the fund. The company’s services include mechanical and electrical installation, renovation, and maintenance.
Artisan Mid Cap Fund continues to focus on high-quality growth companies with durable secular trends and attractive valuations. The fund’s letter directs readers to check its top five holdings for its best picks in 2026.
Source: finance.yahoo.com
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