Artisan Small Cap Fund’s Q3 2025 Investor Letter

Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” third-quarter 2025 investor letter. Global equities continue to rally in the third quarter, the period with double-digit YTD gains. Major US indices like Russell 1000®, Russell Midcap®, and Russell 2000® reached record highs in the period. In the quarter, the fund’s Investor Class fund ARTSX returned 8.69%, Advisor Class fund APDSX posted a return of 8.75%, and Institutional Class fund APHSX returned 8.73%, compared to a return of 12.19% for the Russell 2000 Growth Index. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2025.

A copy of Artisan Small Cap Fund’s Q3 2025 investor letter can be downloaded here.