Artisan Value Fund Q1 2026 Portfolio Activity

Artisan Partners’ Q1 2026 portfolio note says the Artisan Value Fund initiated four new positions amid elevated volatility, using the opportunity to upgrade portfolio quality. The three largest new buys were Amazon (AMZN.OQ), Universal Music Group (UMGNF) and IQVIA (IQV). The firm exited or trimmed positions including Humana and PayPal and fully exited Meta Platforms and Diageo. The fund trailed the Russell 1000 Value Index in Q1 but highlights a bullish thesis on Amazon—driven by logistics, AWS, and advertising profit levers—suggesting potential incremental buying pressure and a portfolio rotation into higher-quality names.