COLLEGE PLANNING | ESTATE PLANNING | INVESTING | PORTFOLIO SPOTLIGHT | REAL ESTATE | RETIREMENT | TAX PLANNING
Artisan Global Value Fund
TICKER ASSETS
ARTGX $ 2.5 billion
PERFORMANCE YTD 1 yr. 3 yr. 5 yr. 10 yr. 15 yr. 8.99 % 12.49 % 10.55 % 18.20 % 8.50 % 9.97 %
TOP 5 HOLDINGS Elevance Health Inc.; The Charles Schwab Corp.; Heidelberg Materials AG; Danone SA.; The Bank of New York Mellon Corp.
CONTACT INFO
800-399-1770 • artisanpartners. com
EQUITY SECTOR ALLOCATION( As a % of portfolio)
Financials 36.2 % Healthcare 14.5 % Communication Services 9.6 % Consumer Staples 9.6 % Consumer Discretionary 9.5 % Industrials 5.6 % Energy 5.3 % Information Technology 4.8 % Materials 4.8 %
Performance, asset numbers, holdings, sector weightings as of 3 / 31 / 25. Performance figures are for the investor class shares. Sources: Artisan Partners and Morningstar.
Value Isn’ t Just About Cheap Prices
The Artisan Global Value Fund’ s valuation method has produced strong results. By Jeff Schlegel
THE FACILE VIEW ON VALUE INVESTING IS THAT IT’ S all about bargain hunting, but price alone does not a value investor make. The concept of“ value” is subjective, a point that’ s made by the managers at the Artisan Global Value Fund.
“ The phrase we like to use is that value is a judgment call about what something is worth,” says Michael McKinnon, who runs the fund along with Daniel O’ Keefe.“ We’ re willing to pay a higher multiple for businesses that can grow. We want to pay a discount to what we think they’ re worth, but we recognize that growing businesses are worth more than businesses that are shrinking.”
The duo scan the globe for companies that fit their definition of value, and their long-term success is validated by top-quartile ratings in Morningstar’ s global large-cap stock value category in all measurable time periods going back 15 years.
The Artisan fund is a high-conviction portfolio of roughly 35 to 40 stocks with a low turnover rate of 16 %. McKinnon and
O’ Keefe aren’ t the kind of investors who panic when, say, financial markets freak out after the U. S. decides to slap stiff tariffs on most nations around the globe. Instead, they viewed the tariffinfused volatility in early April as an opportunity to scope out investment opportunities.
“ Uncertainty can make stock prices move in uneconomic ways, and that generally provides opportunities for us,” McKinnon says.“ The most fertile periods of investing in the history of the strategy have been periods of severe price dislocations that give us the opportunity to buy high-quality businesses at very attractive prices.”
He notes that uncertainty is always part of the investing landscape, whether it’ s an in-your-face scenario such as global tariffs or more nuanced challenges posed by shifts in the macro environment.
Either way, he and O’ Keefe navigate that uncertainty by focusing on higher-quality businesses with sustainable business models, diversified operations and balance sheets with appropriate
42 | FINANCIAL ADVISOR MAGAZINE | MAY 2025 WWW. FA-MAG. COM