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Artisan partnersan investment management firm, published its third quarter 2025 investor letter “Artisan Value Fund”. A copy of the letter can be downloaded here. The stock market rally persisted in the third quarter as investors shrugged off tariffs, boosted by strong corporate earnings, increased investment in artificial intelligence and the prospect of economic support from US fiscal policy and lower interest rates. Against this backdrop, the fund’s ARTLX Investor Class, APDLX Advisor Class and APHLX Institutional Class returned 0.83%, 0.91% and 0.90%, respectively, during the third quarter, compared to a 5.33% return for the Russell 1000 Value Index. Plus, you can check out the fund’s top 5 holdings to learn about its top picks in 2025.
In its 2025 Q3 investor letter, Artisan Value Fund highlighted stocks like Philip Morris International Inc. (NYSE:PM). Philip Morris International Inc. (NYSE:PM) is a tobacco company that offers cigarettes and smokeless products. The one month profitability of Philip Morris International Inc. (NYSE:PM) was 3.14% and its stock gained 34.20% of its value over the past 52 weeks. On December 26, 2025, shares of Philip Morris International Inc. (NYSE:PM) closed at $161.05 per share, with a market capitalization of $250.7 billion.
Artisan Value Fund stated the following about Philip Morris International Inc. (NYSE:PM) in its Q3 2025 investor letter:
“In the third quarter, portfolio stock selection was broadly negative across all sectors, reflecting the broader performance headwinds discussed above as our investment style was completely out of step with the market. However, our main source of underperformance was the consumer staples sector as we had a number of laggards including Kerry Group, Philip Morris International Inc. (NYSE:PM)li Diageo.
