Artisan Partners Asset Management Inc

Artisan Partners Asset Management expects the wind-down of its U.S. Value team to negatively impact third-quarter earnings by approximately $0.03 per share compared to the second quarter, with the process largely completed by the end of the third quarter. The wind-down follows the loss of two large sub-advisory mandates in the U.S. Value business and contributed to total net client outflows of $10.5 billion during the second quarter, of which $6.4 billion came from U.S. Value and $2.8 billion from Growth strategies. Despite these headwinds, the firm reported record quarter-end assets under management of $183 billion, a 6% increase from the prior quarter, and raised its quarterly dividend by 4% to $0.80 per share. Credit strategies generated nearly $700 million of net inflows, marking the 16th consecutive quarter of positive organic growth, while alternative strategies gathered approximately $300 million of net inflows. Adjusted earnings per share rose to $0.94, and the firm retained over $180 million of excess capital after funding the dividend to support growth initiatives or potential shareholder returns.

Artisan Partners Asset Management reported preliminary assets under management of $183.4 billion as of June 30, 2026. Artisan Funds and Artisan Global Funds accounted for $93.5 billion of the total, while separate accounts and other AUM made up the remaining $89.9 billion. The firm noted that the termination of a U.S. sub-advisory mandate resulted in approximately $5.7 billion of net outflows from the Value Equity strategy, and it has begun an orderly wind-down of the U.S. Value team's strategies expected to continue through the third quarter.

Artisan Partners reported first-quarter revenues of $303 million, a 9.3% year-on-year increase that met analyst expectations, though earnings per share significantly missed estimates. Among the five asset management stocks tracked, TPG was the best performer with revenues of $570 million, up 20.7% and beating estimates by 5.2%, while Carlyle was the weakest with revenues of $750.9 million, down 28% and missing estimates by 13%. Ares posted the fastest revenue growth at 26.2% to $1.27 billion, and Blackstone reported revenues of $3.46 billion, up 24.2% and beating estimates by 1.4%. As a group, revenues missed consensus estimates by 1.8%, and share prices have fallen an average of 8.9% since the earnings releases.