Artisan Mid Cap Value Fund exited its position in Pinterest during the first quarter of 2026, citing macroeconomic headwinds and slower-than-expected progress on key priorities. The fund noted that Pinterest's recent results were impacted by tariffs, which weighed on advertising spending by large retail customers, and that the company is less diversified and more exposed to consumer-driven categories than larger social media peers. Pinterest was among the biggest decliners in the portfolio, dropping 30% or more during the quarter. The fund's Investor Class returned -4.93%, Advisor Class declined -4.90%, and Institutional Class fell -4.97%, all trailing the Russell Midcap Value Index's 3.68% gain. Pinterest shares lost 37.53% over the past 52 weeks and closed at $22.42 on July 7, 2026, with a market capitalization of $12.56 billion.
Pinterest IncTariffs weighed on advertising spending by large retail customers, impacting Pinterest's ad revenue.