Artisan Value Income Fund Q4 2024 Commentary

Artisan Partners
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Summary

  • US stocks rallied post-election, driven by optimism around the Trump 2.0 administration and Federal Reserve rate cuts, but higher long-term interest rates pose risks.
  • Our portfolio faced Q4 challenges with bond market turmoil and dividend stock weakness, but we see value in Polaris, Heineken, and Baxter International.
  • New positions in Wells Fargo and Boeing reflect confidence in their turnaround potential, while sales included Safran, Samsung Electronics, and WAFD common equity.
  • Despite high market valuations, value stocks and dividend payers offer attractive risk-adjusted returns and are trading at historically cheap valuations.

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Pakin Jarerndee

Investing Environment

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

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Artisan Partners is a global investment management firm that provides a broad range of high value-added investment strategies in growing asset classes to sophisticated clients around the world. Since 1994, the firm has been committed to attracting experienced, disciplined investment professionals to manage client assets. Artisan Partners’ autonomous investment teams oversee a diverse range of investment strategies across multiple asset classes. Strategies are offered through various investment vehicles to accommodate a broad range of client mandates. This site is intended for use with US institutional investors which includes corporate and public retirement plans, foundations, endowments, trusts and their consultants. Note: This account is not managed or monitored by Artisan Partners, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use the firm's official channels.

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