Ductile rupture of 13% Cr-4% Ni martensitic stainless steels was examined during tension testing in order to better understand the role of second phase particles in these materials. SEM fracture surface examinations revealed that micro-voids were initiated from inclusions, and these inclusions were characterized from metallographic polished sections. Effect of stress triaxiality on the growth and impingement of the micro-voids were examined using a modified model of Rice and Tracey. In the case of the cast and wrought versions, the true fracture strains predicted for the measured stress triaxiality values were in a good agreement with the measured ones. For the weld metals, only the contribution of the micro-void growth cannot explain the experimental results, and it shows that the matrix properties such as austenite content and hardness of martensite play a significant contribution. The magnitude of the final stress triaxiality ratio measured after rupture was also related to the inclusion characteristics.