Artisan International Fund Advisor Shares · NASDAQ:APDIX
Artisan International Fund Advisor Shares — Artisan Partners — Investor Presentation (July 2023)
14 slides from Artisan International Fund Advisor Shares's investor presentation, July 2023
Slide 1: Antero Peak Group — Investor Update
Q2 2023 Antero Peak Group — Investor Update This material is intended to provide an overview of the Antero Peak Group’s investment philosophy and process. Investment in any vehicle managed by the team is subject to further documentation contained in the vehicle's offering materials. This material is
Slide 2: Important Disclosures
Artisan Partners Important Disclosures These materials are provided solely for use in a private meeting and are intended for informational and discussion purposes only. Investment is subject to further documentation. This document is not a prospectus. Unless expressly stated, it has not otherwise be
Slide 3: Quarter in Review
Antero Peak Group Quarter in Review Understanding 2Q and 1H 2023 performance In the second quarter of 2023, the Antero Peak Strategy gained 8.12%, slightly below the S&P 500 Index which increased 8.74%. Seven technology stocks have contributed roughly 95% of the benchmarks total return. As of
Slide 4: Market Breadth Hits Extreme Lows
Antero Peak Group Market Breadth Hits Extreme Lows Percentage of Stocks Outperforming the S&P 500 Index, 3M Rolling Basis 70% 60% 50% 40% 30% 20% 10% 0% 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 20
Slide 5: Earnings Estimates Stabilized in the Second Quarter—Risks Still Remain
Antero Peak Group Earnings Estimates Stabilized in the Second Quarter—Risks Still Remain We expect the earnings environment to remain difficult As Fed actions propagate through the economy we continue to focus on our bottom-up process. Liquidity is tightening, margins are elevated, and currently
Slide 6: Underlying Process Execution Has Been Strong, Positioned Well Going Forward
Antero Peak Group Underlying Process Execution Has Been Strong, Positioned Well Going Forward We believe our portfolio’s earnings are positioned to outgrow the S&P 500 Index We believe our research execution has been very strong and are excited about the current portfolio. Further, our returns hav
Slide 7: Theme Update: Artificial Intelligence
Antero Peak Group Theme Update: Artificial Intelligence We continue to execute our process and focus on differentiated research We established positions in semiconductor companies exposed to AI proliferation (NVDA, AMD, TSM) ahead of the inflection in Q4 22. We initially identified the inflectio
Slide 8: Aerospace Normalization: Secular Growth Amplified by Cyclical Inflection
Antero Peak Group Aerospace Normalization: Secular Growth Amplified by Cyclical Inflection Optimal long duration setup with differentiated ideas to execute our process We have held positions in Aerospace stocks for several years, yet we are still in the very early innings of the aerospace cycle.
Slide 9: General Electric: Transformation Near Complete
Antero Peak Group General Electric: Transformation Near Complete General Electric has been a substantial positive contributor for us so far in 2023 and we remain excited about the position. GE has undergone a massive business simplification and is set to become the fastest growing large cap indu
Slide 10: Our Process is Supported by Empirical Data
Antero Peak Group Our Process is Supported by Empirical Data We have a clearly defined game plan Our process is focused on three key pillars: 1) Inflection points that lead to broad based, often industry wide accelerations and high earnings growth rates 2) Bottom-up, rigorous differentiation t
Slide 11: Multiple Exciting Areas to Execute our Process
Antero Peak Group Multiple Exciting Areas to Execute our Process Aero Normalization As the middle class rises globally, air traffic is expected to accelerate. Further, with years of aerospace industry challenges abating, we see significant tailwinds for aviation companies and believe we are likely i
Slide 12: Investment Results
Antero Peak Strategy Investment Results Average Annual Total Returns Annual Returns Source: Artisan Partners/S&P. Past performance does not guarantee and is not a reliable indicator of future results. Gross- and net-of-fees performance shown for the Composite. Current performance may be lower or hig
Slide 13: Notes and Disclosures
Artisan Partners Notes and Disclosures This section of this presentation contains information important to a complete understanding of the material presented. Please review it carefully. Artisan Partners Limited Partnership (APLP) is an investment adviser registered with the U.S. Securities and Exch
Slide 14: Notes and Disclosures
Artisan Partners Notes and Disclosures Earnings per Share (EPS) is the portion of a company's profit allocated to each outstanding share of common stock. Return on invested capital (ROIC) is a calculation used to assess a company's efficiency in allocating capital to profitable investments. M2 is th