
Josh Harris' 26North Agrees to Buy AVI-SPL From Marlin Equity
The investment values AVI-SPL at more than $1 billion, a person familiar with the matter said, asking not to be identified discussing confidential information.
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Walmart is raising prices because of tariffs. Customers are still flocking to Walmart
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Artisan Value Fund is Confident in its Investment in Thermo Fisher Scientific (TMO). Here's Why
Artisan Partners, an investment management company, released its 'Artisan Value Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. Equity markets faced significant volatility in the second quarter, fueled by the announcement and subsequent pause of the "Liberation Day" tariffs. Against this backdrop, the fund's Investor Class ARTLX, Advisor Class APDLX, and Institutional Class APHLX returned 5.99%, 5.96%, and 5.96%, respectively, in the second quarter compared to a 3.79% return for the Russell 1000® Value 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 Value Fund highlighted stocks such as Thermo Fisher Scientific Inc. (NYSE:TMO). Thermo Fisher Scientific Inc. (NYSE:TMO) offers life sciences solutions, analytical instruments, specialty diagnostics, laboratory products, and biopharma services. The one-month return of Thermo Fisher Scientific Inc. (NYSE:TMO) was 4.16%, and its shares lost 18.91% of their value over the last 52 weeks. On August 20, 2025, Thermo Fisher Scientific Inc. (NYSE:TMO) stock closed at $494.81 per share, with a market capitalization of $186.846 billion. Artisan Value Fund stated the following regarding Thermo Fisher Scientific Inc. (NYSE:TMO) in its second quarter 2025 investor letter: "Thermo Fisher Scientific Inc. (NYSE:TMO) is a life science tools and clinical research company serving a range of end markets, including pharmaceutical, clinical, academia, industrial and applied sciences. The company has a leading industry position in a market that grows about 4%–6%peryear, though we believe core organic growth can be1%–2%overthatduetoTMO'sdominantpositionsinavariety of fast-growing end markets, like rare disease and genomics. The company has a solid balance sheet, high free cash flow conversion a history of good capital allocation comprised of R&D, M&A and return of capital (buybacks and dividends). End markets were already cyclically depressed, but tariffs and government spending cuts may delay a recovery. These concerns allowed us an attractive entry point of 17X2026expected earnings. The vast majority of TMO's revenue is recurring, primarily from consumables, which gives us increased confidence in our investment case while the company manages tariff impacts and as we wait for end markets to mend." A workstation in a research lab stocked with laboratory products and services. Thermo Fisher Scientific Inc. (NYSE:TMO) is in 26th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 101 hedge fund portfolios held Thermo Fisher Scientific Inc. (NYSE:TMO) at the end of the first quarter, which was 100 in the previous quarter. Thermo Fisher Scientific Inc.'s (NYSE:TMO) revenue in the second quarter grew 3% to $10.85 billion. While we acknowledge the potential of Thermo Fisher Scientific Inc. (NYSE:TMO) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Thermo Fisher Scientific Inc. (NYSE:TMO) and shared Parnassus Investments' views on the company. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.
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Smoke-Free Product Platform Boosted Philip Morris International (PM) in Q2
Artisan Partners, an investment management company, released its 'Artisan Value Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. Equity markets faced significant volatility in the second quarter, fueled by the announcement and subsequent pause of the "Liberation Day" tariffs. Against this backdrop, the fund's Investor Class ARTLX, Advisor Class APDLX, and Institutional Class APHLX returned 5.99%, 5.96%, and 5.96%, respectively, in the second quarter compared to a 3.79% return for the Russell 1000® Value 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 Value Fund highlighted stocks such as Philip Morris International Inc. (NYSE:PM). Philip Morris International Inc. (NYSE:PM) is a tobacco company that offers cigarettes and smoke-free products. The one-month return of Philip Morris International Inc. (NYSE:PM) was 7.31%, and its shares have appreciated by 43.92% over the past 52 weeks. On August 20, 2025, Philip Morris International Inc. (NYSE:PM) stock closed at $172.85 per share, with a market capitalization of $269.057 billion. Artisan Value Fund stated the following regarding Philip Morris International Inc. (NYSE:PM) in its second quarter 2025 investor letter: "In the consumer staples sector, tobacco company Philip Morris International Inc. (NYSE:PM) and discount retailer Dollar General (DG) continued their strength from Q1. Both stocks are up over 50% year to date. PM's growth is being driven by its smoke-free product platform led by iQOS, a heat-not-burn tobacco alternative, and Zyn nicotine pouches. We believe PM still has significant runway for growth in the US—the world's most profitable nicotine market and one that makes up less than 10%ofPM'srevenues. Looking at PM through our margin of safety criteria, the business trades for an undemanding valuation and has extraordinary business economics and a strong credit profile." A man exhaling smoke from a cigarette indicating the use of tobacco products. Philip Morris International Inc. (NYSE:PM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 104 hedge fund portfolios held Philip Morris International Inc. (NYSE:PM) at the end of the first quarter, which was 102 in the previous quarter. While we acknowledge the potential of Philip Morris International Inc. (NYSE:PM) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Philip Morris International Inc. (NYSE:PM) and shared the list of defensive stocks billionaires are buying amid US trade tariff uncertainty. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey.