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Companies $APAM
$33.20 -$0.14 (0.42%) Close
Artisan Partners Asset Management Inc logo

Artisan Partners Asset Management Inc

apam.com

What Do They Do?

Manages active investment strategies across asset classes for institutions and other sophisticated investors.

How Do They Make Money?

Clients pay management fees based on assets managed, billed monthly or quarterly; some also pay performance fees tied to account results against a benchmark, determined over quarterly or annual periods.

revenue
SegmentShareRevenue
Management fees
Recurring

98%
FY2022: 100%
Performance fees
Recurring
2.4%
FY2022: 0.1%

Who Are Their Customers?

Institutional clients—including public entities, benefit plans, foundations and endowments—can be served directly or through investment consultants. Financial advisers and broker-dealers, as well as brokerage firms and private banks, offer the firm's products to their clients.

Do Revenues Turn Into Profits?

Yes. It kept 24 cents of every revenue dollar as net income in FY2025 and turned 14 cents into free cash flow.

Operating income, FY2025
33% of revenue
▲ +9% vs FY2024 ($366.6M, 33%)
Net income, FY2025
24% of revenue
▲ +12% vs FY2024 ($259.7M, 23%)
Free cash flow, FY2025
14% of revenue
▼ −54% vs FY2024 ($371.3M, 33%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +9%
vs $282.7M in Q2 FY2025
Net income
▲ +20%
vs $67.6M in Q2 FY2025
Management fees share of revenue from contracts with customers vs 100.0% in Q2 FY2025
  • Aug 11, 2026 Artisan started winding down its U.S. Value strategies The company expected the orderly wind-down to continue throughout the third quarter.

Flat. Revenue was $1.2B in FY2025, about the same as the $1.2B of FY2021.

Real estate business The older report described Artisan as an active investment manager; the latest report also describes its acquisition of a real estate private equity firm that originates, develops, acquires and manages middle-market properties.

Revenue over time
Management fees Performance fees
$2B$1B$0

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