Artisan Partners has recently published its “Artisan Value Fund” investor letter for the third quarter of 2025, highlighting the continuing rally in the equity markets. Investors have largely remained optimistic despite ongoing tariff issues, driven by robust corporate earnings, increasing investments in artificial intelligence (AI), and favorable economic conditions spurred by US fiscal policies and lower interest rates. For the third quarter, the fund’s Investor Class (ARTLX), Advisor Class (APDLX), and Institutional Class (APHLX) achieved modest returns of 0.83%, 0.91%, and 0.90%, respectively, compared to a significantly higher return of 5.33% for the Russell 1000 Value Index.
Among the notable stocks discussed in the letter is Accenture plc (NYSE:ACN), a professional services firm that specializes in management consulting and technology services. Accenture’s stock experienced a one-month return of 5.31%, although it faced a substantial decline of 23.09% over the last year. As of December 26, 2025, shares of Accenture closed at $271.09, giving the company a market capitalization of $166.8 billion.
Artisan Value Fund expressed confidence in Accenture’s potential despite market uncertainties. The letter emphasized that while many companies may fear disruption from AI advancements, the concerns surrounding established firms like Accenture may be overstated. The fund highlighted that Accenture remains a key player in helping its corporate clients navigate technological changes, which could contribute to sustained demand for its services. Although growth slowed in 2025, Artisan Partners attributes this slowdown to broader economic challenges rather than the impending impact of AI.
Furthermore, while Accenture is not currently among the top 30 stocks favored by hedge funds, it still captured the interest of 66 funds at the end of the third quarter, an increase from 65 in the previous quarter. Accenture’s fiscal performance in the first quarter of fiscal 2026 reflected revenues of $18.7 billion, marking a 5% increase in local currency, providing evidence of its resilience.
Artisan’s letter explicitly states their belief in the intrinsic value of firms like Accenture, particularly in the context of the shifting technological landscape. The firm advocates for recognizing that while AI will undoubtedly influence the market, the notion that it will solely disadvantage strong companies with significant market presence may not hold true.
Investors seeking advantageous opportunities might also find the current landscape an opportunity to evaluate Accenture for its long-term prospects. With careful consideration of market trends and fundamentals, potential investors can identify value in established companies navigating the evolving dynamics of technology-driven markets.