Artisan Value Fund Q4 2024 Commentary

2025-02-25 06:00:00 ET

Summary

• Following strong gains in Q3, the Russell 1000 Value Index finished slightly lower in Q4, declining -1.98%.
• Our portfolio held up slightly better than the Russell 1000 Value Index in Q4.
• We made two new purchases this quarter: Wells Fargo, the fourth-largest US bank by assets, and Diamondback Energy, an oil and gas producer operating in the Permian Basin of the southwestern US.

Investing Environment

Following strong gains in Q3, the Russell 1000® Value Index finished slightly lower in Q4, declining -1.98%. For the year, the index returned 14.37%. US stocks rallied sharply following the US election, reaching all-time highs before pulling back in December. Positive sentiment was driven by optimism around a pro-business Trump 2.0 administration and ongoing rate cuts by the Federal Reserve. After the Fed kicked off its easing cycle in September with a 50bp cut, it followed that with two additional 25bp cuts in November and December....

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