📈 Price History

Ratio Health

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About

Artisan Partners Asset Management Inc. is publicly owned investment manager.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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⭐ Superinvestors Holding APAM

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	284.3K	$10.3M	0.02%	Mar 2026
Steve Cohen Point72 Asset Management	228.3K	$8.3M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed ↓ Deteriorating 4 quarters analysed

Q2 2025

Confident Specific

Management consistently used specific performance metrics (e.g., 170 bps outperformance, #2 rank, 11% annual returns) and highlighted awards (Morningstar) to reinforce the strength of their model and teams. The tone was assured and data-driven, with no hedging or defensive language.

Q3 2025

Confident Specific

Management uses specific performance numbers (70% outperformance, all-time high AUM, 13 consecutive quarters of credit inflows) and provides detailed strategic initiatives, but acknowledges net outflows in a handful of equity strategies with concrete examples (rebalancing, Australian client termination).

Q4 2025

Confident Specific

Management uses precise figures ('asset-weighted returns >20% net', '$33B in returns', '79% of AUM outperformed 3-yr') and strong language ('significant absolute returns', 'compelling and broad-based', 'fired on all cylinders') to portray robust investment performance and strategic progress. Acknowledges equity outflows but frames them as anticipated rebalancing, maintaining a positive outlook.

Q1 2026 latest

Mixed

Management combined strong long-term performance stats (74% outperformance over 3 years) with candid admissions of short-term equity underperformance and a 'challenging and difficult to predict' equity backdrop, while expressing confidence in credit and alternatives growth.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis remains largely unchanged: Artisan Partners' long-term track record and platform model continue to generate strong performance in credit, alternatives, and several equity strategies. However, the concentrated equity outflows and ongoing performance challenges in the Global Opportunity strategy are headwinds that need to be monitored. The credit and alternatives inflows demonstrate successful diversification, and the M&A pipeline suggests potential for further growth. Key areas to watch next quarter include the trajectory of equity outflows, progress on a credit acquisition, and whether the sustainable EM and franchise fund momentum continues.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Mixed ↓ Deteriorating 4 quarters Full tone analysis in Intelligence →

📊 MIXED Artisan Partners AUM near $184B; Q1 revenue $303M, net outflows $3.1B.

Revenue & Profitability

Q1 2026 revenue was $303 million, down 10% from the December quarter and up 9% year-over-year. Adjusted operating income decreased 30% sequentially and increased 6% year-over-year. Adjusted net income per adjusted share declined 31% from the December quarter and increased 5% compared to the prior year quarter. The sequential decline was primarily due to the absence of performance fees and seasonal expense patterns.

Outlook

Management views the equity market backdrop as more challenging and difficult to predict, with outflows driven by client de-risking, reallocation after asset class outperformance, and some shift to passive alternatives. However, the credit and alternatives segments are expected to see continued strong business development, with 15 consecutive quarters of positive credit flows. The firm's AUM recovered to nearly $184 billion by late April, near an all-time high.

Growth Drivers

Key growth levers include credit ($800 million net inflows in Q1, 15th consecutive quarter of positive flows), alternatives ($300 million raised, primarily in global unconstrained strategy), and sustainable emerging markets ($250 million raised in Q1, AUM nearing $3 billion). The intermediate wealth channel showed positive flows for the quarter, and distribution talent was added in EMEA and the intermediate wealth channel. The firm also filed to offer ETF share classes of Artisan Mutual Funds.

Balance Sheet & CapEx

Not discussed in this earnings call. However, the firm mentioned approximately $20 million of incremental fixed expenses related to long-term incentive compensation and the onboarding of Grandview Property Partners. Full-year 2026 expense guidance remains unchanged, with fixed expenses expected to increase at a low single-digit rate.

Margins

Adjusted operating margin declined sequentially due to the absence of performance fees and the addition of Grandview Property Partners' expenses. Adjusted operating expenses increased 4% sequentially and 11% year-over-year, driven by higher variable incentive compensation tied to increased revenues and the addition of Grandview. For full-year 2026, fixed expenses are expected to increase at a low single-digit rate, with approximately $20 million in incremental fixed expenses from long-term incentive compensation and Grandview.

Key Risks

Key risks flagged include underperformance in a few large equity strategies weighing on shorter-term performance, leading to net outflows of $3.1 billion in Q1. Client de-risking, rebalancing after asset class outperformance, and a shift to passive alternatives are ongoing headwinds. Management noted that the equity backdrop is challenging and difficult to predict, and there is no direct line of sight to large mandates.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-29

Record AUM and strong investment performance drove revenue and margin growth, offsetting significant outflows from U.S. value and growth teams. Credit and alternatives continued to see robust inflows, while new initiatives in real estate and emerging markets support long-term growth.

Q1 2026 Q1 2026 2026-04-29

Record AUM and strong long-term investment performance were achieved, despite Q1 net outflows in equities due to client rebalancing. Credit and alternatives saw robust inflows, and the firm remains focused on expanding talent, capabilities, and M&A opportunities.

Q4 2025 Q4 2025 2026-02-04

AUM reached a record $180B, with strong investment returns and double-digit growth in credit and alternatives. Equity outflows persisted, but robust performance and the Grandview acquisition support future growth. Dividend yield rose to 9.5%.

Q3 2025 Q3 2025 2025-10-29

AUM reached a record $181.3B, with strong investment performance and revenue growth driving margin expansion and higher earnings. Net inflows in 14 of 26 strategies offset outflows from large equity strategies, while the firm continues to expand into new asset classes and markets.

Q2 2025 Q2 2025 2025-07-30

AUM rose 8% to $176B, with strong equity markets and continued fixed income inflows, though net client outflows persisted. Leadership transition completed, and dividend increased 7%.

📊 Analysis Methodology

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Investment Risk:
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