Artisan Partners Asset Management Inc. · NYSE:APAM
Artisan Partners Asset Management — Q2 2026 Earnings Presentation
31 slides from Artisan Partners Asset Management's earnings presentation, Jul 29, 2026
Slide 1: Artisan Partners Asset Management
June 30, 2026 Artisan Partners Asset Management This document is provided by Artisan Partners Asset Management Inc. for reference purposes only — for the benefit of those who want to know more about Artisan Partners. The information contained in this document, including forward-looking statements, i
Slide 2: Introduction
Business Update & Second Quarter 2026 Earnings Presentation Introduction Welcome to the Artisan Partners Asset Management business update and earnings call. Today's call will include remarks from Jason Gottlieb, CEO; and C.J. Daley, CFO. Following these remarks, we will open the line for questions.
Slide 3: Business Philosophy & Approach
Business Update & Second Quarter 2026 Earnings Presentation Business Philosophy & Approach Artisan has built its business based upon a consistent philosophy and business model High Value-Added Talent-Driven Thoughtful Investment Firm Business Model Growth ▪ Active Strategies ▪ Designed for Investmen
Slide 4: Business Philosophy & Approach
Business Update & Second Quarter 2026 Earnings Presentation Business Philosophy & Approach Jason Gottlieb—Chief Executive Officer and President, Artisan Partners Asset Management Inc.: Thank you for joining the call today. Our purpose at Artisan Partners remains unchanged, to generate and compound w
Slide 5: Investment Performance
Business Update & Second Quarter 2026 Earnings Presentation Investment Performance As of June 30, 2026 Percentage of AUM Outperforming Benchmark Asset Class 1-Year 3-Year 5-Year 10-Year Inception Equity 81% 84% 75% 99% 99% Credit 21% 100% 100% 100% 100% Alternative 45% 100% 92% — 95% Firmwide 74% 86
Slide 6: Investment Performance
Business Update & Second Quarter 2026 Earnings Presentation Investment Performance Jason Gottlieb—Chief Executive Officer and President, Artisan Partners Asset Management Inc.: Strong investment performance continues to create opportunities for future growth, particularly as clients increasingly see
Slide 7: Business Development
Business Update & Second Quarter 2026 Earnings Presentation Business Development Ending AUM ($B) $180 $183 $175 $161 $150 $128 2021 2022 2023 2024 2025 June 2026 Investment Performance $17.6 ($36.6) $27.0 $15.9 $33.4 $16.6 Net Flows $1.7 ($9.8) ($4.1) ($3.7) ($12.7) ($13.6) Equity ($1.2) ($9.7) ($4.
Slide 8: Business Development
Business Update & Second Quarter 2026 Earnings Presentation Business Development Jason Gottlieb—Chief Executive Officer and President, Artisan Partners Asset Management Inc.: Turning to slide four. We continually evaluate our investment franchises against both client demand and long-term economic vi
Slide 9: Multi-Asset Platform Expansion
Business Update & Second Quarter 2026 Earnings Presentation Multi-Asset Platform Expansion Investment Commercial Platform Opportunity Opportunity Opportunity ▪ Top Tier Talent ▪ Large TAM ▪ Capability Expansion ▪ Large Investment ▪ Long-Term Asset Allocation ▪ Business Diversification Opportunity Se
Slide 10: Multi-Asset Platform Expansion
Business Update & Second Quarter 2026 Earnings Presentation Multi-Asset Platform Expansion Jason Gottlieb—Chief Executive Officer and President, Artisan Partners Asset Management Inc.: Throughout the history of Artisan Partners, we have evolved the platform while remaining true to the principles tha
Slide 11: Transparent Predictable Financial Model
Business Update & Second Quarter 2026 Earnings Presentation Transparent Predictable Financial Model Long-Term Approach to Invest in the business with a focus on sustainable long-term growth Growth Fee Discipline Commitment to maintain fee levels supported by value-added strategies High Variable Cost
Slide 12: Transparent Predictable Financial Model
Business Update & Second Quarter 2026 Earnings Presentation Transparent Predictable Financial Model ARTISAN PARTNERS ASSET MANAGEMENT T-6
Slide 13: Quarterly Financial Results
Business Update & Second Quarter 2026 Earnings Presentation Quarterly Financial Results ($ in millions, unless otherwise noted) Revenues Adjusted Operating Expenses Adjusted Operating Income Weighted Average Fee (in bps) $303.0 $307.9 $282.8 $208.8 $206.5 $193.2 $94.2 $101.4 $89.6 68 67 68 2Q25 1Q26
Slide 14: Quarterly Financial Results
Business Update & Second Quarter 2026 Earnings Presentation Quarterly Financial Results ($ in millions, unless otherwise noted) Charles (C.J.) Daley—Chief Financial Officer, Executive Vice President and Treasurer, Artisan Partners Asset Management Inc.: Thanks, Jason. Our complete GAAP and adjusted
Slide 15: YTD Financial Results
Business Update & Second Quarter 2026 Earnings Presentation YTD Financial Results ($ in millions, unless otherwise noted) Revenues Adjusted Operating Expenses Adjusted Operating Income Weighted Average Fee (in bps) $610.9 $559.9 $415.3 $381.3 $178.6 $195.6 68 68 YTD 2Q25 YTD 2Q26 YTD 2Q25 YTD 2Q26 Y
Slide 16: YTD Financial Results
Business Update & Second Quarter 2026 Earnings Presentation YTD Financial Results ($ in millions, unless otherwise noted) Charles (C.J.) Daley—Chief Financial Officer, Executive Vice President and Treasurer, Artisan Partners Asset Management Inc.: Looking at the year-to-date results, average assets
Slide 17: Balance Sheet as of June 30, 2026
Business Update & Second Quarter 2026 Earnings Presentation Balance Sheet as of June 30, 2026 ($ in millions) Cash and Cash Equivalents Seed Capital $334.5 $214.4 $151.6 $96.2 4Q25 2Q26 4Q25 2Q26 Borrowings & Leverage Ratio1 Stockholders' Equity $478.1 $465.3 $190.0 $190.0 0.4x 0.4x 4Q25 2Q26 4Q25 2
Slide 18: Balance Sheet as of June 30, 2026
Business Update & Second Quarter 2026 Earnings Presentation Balance Sheet as of June 30, 2026 ($ in millions) Charles (C.J.) Daley—Chief Financial Officer, Executive Vice President and Treasurer, Artisan Partners Asset Management Inc.: Our balance sheet remains strong, with $335 million in cash. Dur
Slide 19: Dividends
Business Update & Second Quarter 2026 Earnings Presentation Dividends Total Dividends - Last Five Years Dividends - Last Five Quarters $4.70 $3.87 $1.01 $3.48 $0.88 $0.80 $0.77 $2.82 $2.78 $0.73 $0.57 2021 2022 2023 2024 2025 2Q25 3Q25 4Q25 1Q26 2Q26 Quarterly Special The dividend amounts shown repr
Slide 20: Dividends
Business Update & Second Quarter 2026 Earnings Presentation Dividends Charles (C.J.) Daley—Chief Financial Officer, Executive Vice President and Treasurer, Artisan Partners Asset Management Inc.: Consistent with our dividend policy, our Board of Directors declared a quarterly dividend of $0.80 per s
Slide 21: Appendix
Business Update & Second Quarter 2026 Earnings Presentation APPENDIX ARTISAN PARTNERS ASSET MANAGEMENT 11
Slide 22: Assets Under Management ($ in billions)
Business Update & Second Quarter 2026 Earnings Presentation Assets Under Management ($ in billions) AUM Average AUM $180.9 $182.4 $181.9 $177.4 $166.8 Quarter $181.3 $179.9 $183.4 $175.5 $173.0 2Q25 3Q25 4Q25 1Q26 2Q26 +6% AUM; 0% Avg AUM +5% AUM; +9% Avg AUM $182.2 $166.8 $183.4 Year-to-date $175.5
Slide 23: Assets Under Management By Asset Class
Business Update & Second Quarter 2026 Earnings Presentation Assets Under Management By Asset Class ($ in billions) For the Three Months Ended For the Six Months Ended June 30, 2026 June 30, 2026 Asset Class Equity Credit Alternative Firm Total Equity Credit Alternative Firm Total Beginning AUM $149.
Slide 24: Reconciliation of GAAP to Non-GAAP ("Adjusted") Measures
Business Update & Second Quarter 2026 Earnings Presentation Reconciliation of GAAP to Non-GAAP ("Adjusted") Measures ($ in millions) Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 Net income attributable to Artisan Partners Asset Management
Slide 25: Details of Compensation & Benefits Expense
Business Update & Second Quarter 2026 Earnings Presentation Details of Compensation & Benefits Expense ($ in millions) For the Three Months Ended For the Six Months Ended June 30, % of March 31, % of June 30, % of June 30, % of June 30, % of 2026 Rev. 2026 Rev. 2025 Rev. 2026 Rev. 2025 Rev. Salary $
Slide 26: Long-Term Investment Results (Gross of Fees)
Business Update & Second Quarter 2026 Earnings Presentation Long-Term Investment Results (Gross of Fees)1 Average Annual Total Returns (Gross) Average Annual Value-Added As of June 30, 2026 1 YR 3 YR 5 YR 7 YR 10 YR Inception Since Inception (bps) Growth Team Global Opportunities Strategy 11.23 % 14
Slide 27: Long-Term Investment Results (Gross of Fees) Continued
Business Update & Second Quarter 2026 Earnings Presentation Long-Term Investment Results (Gross of Fees)1 Continued Average Annual Total Returns (Gross) Average Annual Value-Added As of June 30, 2026 1 YR 3 YR 5 YR 7 YR 10 YR Inception Since Inception (bps) Global Value Team Global Value Strategy 25
Slide 28: Long-Term Investment Results (Net of Fees)
Business Update & Second Quarter 2026 Earnings Presentation Long-Term Investment Results (Net of Fees)1 Average Annual Total Returns (Net) Average Annual Value-Added As of June 30, 2026 1 YR 3 YR 5 YR 7 YR 10 YR Inception Since Inception (bps) Growth Team Global Opportunities Strategy 10.30 % 13.08
Slide 29: Long-Term Investment Results (Net of Fees) Continued
Business Update & Second Quarter 2026 Earnings Presentation Long-Term Investment Results (Net of Fees)1 Continued Average Annual Total Returns (Net) Average Annual Value-Added As of June 30, 2026 1 YR 3 YR 5 YR 7 YR 10 YR Inception Since Inception (bps) Global Value Team Global Value Strategy 24.01
Slide 30: Notes & Disclosures
Business Update & Second Quarter 2026 Earnings Presentation Notes & Disclosures Forward-Looking Statements Certain statements in this release, and other written or oral statements made by or on behalf of the Company, are “forward-looking statements” within the meaning of the federal securities laws.
Slide 31: Notes & Disclosures
Business Update & Second Quarter 2026 Earnings Presentation Notes & Disclosures Investment Performance (continued from previous page) Composites / Indexes used for the comparison calculations described are: Non-U.S. Growth Strategy / International Value Strategy-MSCI EAFE Index; Global Discovery Str
Artisan Partners Asset Management — Q2 2026 Earnings Presentation on 6ix