Artisan Partners, an investment management company, released its “Artisan Select Equity Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund’s Investor Class ARTNX, Advisor Class APDNX, and Institutional Class APHNX returned 6.77%, 6.76%, and 6.80%, respectively, in the second quarter, compared to a 10.94% return for the S&P 500 Index. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2025.
In its second-quarter 2025 investor letter, Artisan Select Equity Fund highlighted stocks such as Berkshire Hathaway Inc. (NYSE:BRK-B). Berkshire Hathaway Inc. (NYSE:BRK-B) engages in the insurance, freight rail transportation, and utility businesses. The one-month return of Berkshire Hathaway Inc. (NYSE:BRK-B) was -0.59%, and its shares gained 8.64% of their value over the last 52 weeks. On September 18, 2025, Berkshire Hathaway Inc. (NYSE:BRK-B) stock closed at $500.03 per share, with a market capitalization of $1.079 trillion.
Artisan Select Equity Fund stated the following regarding Berkshire Hathaway Inc. (NYSE:BRK-B) in its second quarter 2025 investor letter:
“Berkshire Hathaway Inc.’s (NYSE:BRK-B) share price declined 9%. We suspect this was largely due to Warren Buffett’s announcement that he is stepping down as CEO. The CEO transition to Buffett’s lieutenant, Greg Abel, has been widely telegraphed, though the date was never certain. Now it is. We have a number of thoughts around this transition. Buffett and Abel are in many respects a study in contrasts. Abel is a great operator of businesses. Buffett is a great stock picker and capital allocator, but not an operator. In our view, the future of Berkshire will now likely turn more on the value that can be created from operations first and capital allocation second. Abel may improve the operating performance of the businesses due to a greater level of internal scrutiny and focus.