Artisan Partners, an investment management company, released its “Artisan Value Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The equity market rally persisted in the third quarter as investors ignored tariffs, buoyed by strong corporate earnings, rising AI investment, and prospects of economic support from US fiscal policy and lower interest rates. Against this backdrop, the fund’s Investor Class ARTLX, Advisor Class APDLX, and Institutional Class APHLX returned 0.83%, 0.91%, and 0.90%, respectively, in the third quarter compared to a 5.33% return for the Russell 1000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2025.
In its third-quarter 2025 investor letter, Artisan Value Fund highlighted stocks such as Diageo plc (NYSE:DEO). Diageo plc (NYSE:DEO) engages in the production and distribution of alcoholic beverages. The one-month return of Diageo plc (NYSE:DEO) was -6.53%, and its shares lost 31.87% of their value over the last 52 weeks. On December 26, 2025, Diageo plc (NYSE:DEO) stock closed at $86.32 per share, with a market capitalization of $47.74 billion.
Artisan Value Fund stated the following regarding Diageo plc (NYSE:DEO) in its third quarter 2025 investor letter:
“In Q3, the portfolio’s stock selection was broadly negative across sectors, reflective of the broader performance headwinds discussed earlier as our investment style was firmly out of step with the market. However, our biggest source of underperformance was the consumer staples sector as we had a number of laggards, including Kerry Group, Philip Morris International and Diageo plc (NYSE:DEO).
