Artisan Partners Asset Management (APAM) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	9 Months Ended
	Sep. 30, 2023	Oct. 31, 2023	Dec. 31, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-35826
Entity Registrant Name	Artisan Partners Asset Management Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-0969585
Entity Address, Address Line One	875 E. Wisconsin Avenue, Suite 800
Entity Address, City or Town	Milwaukee,
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53202
City Area Code	414
Local Phone Number	390-6100
Title of 12(b) Security	Class A common stock, par value $0.01 per share
Trading Symbol	APAM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001517302
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Common stock, par value per share (in dollars per share)	$ 0.01		$ 0.01
Entity Common Stock, Shares Outstanding		68,479,386
Class B Common Stock
Document Information [Line Items]
Common stock, par value per share (in dollars per share)	0.01		0.01
Entity Common Stock, Shares Outstanding		2,456,534
Class C Common Stock
Document Information [Line Items]
Common stock, par value per share (in dollars per share)	$ 0.01		$ 0.01
Entity Common Stock, Shares Outstanding		9,024,947

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Accounts receivable	$ 96,062	$ 98,634
Property and equipment, net	46,896	48,104
Deferred tax assets	446,491	477,024
Prepaid expenses and other assets	18,986	20,053
Operating lease assets	91,662	101,410
Total assets	1,417,678	1,234,608
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND STOCKHOLDERS’ EQUITY
Accrued incentive compensation	126,453	29,762
Borrowings	199,226	199,050
Operating lease liabilities	110,524	120,847
Amounts payable under tax receivable agreements	363,860	398,789
Total liabilities	874,628	819,971
Commitments and contingencies
Redeemable noncontrolling interests	219,726	135,280
Additional paid-in capital	187,764	171,416
Retained earnings	112,266	93,088
Accumulated other comprehensive income (loss)	(3,246)	(3,079)
Total Artisan Partners Asset Management Inc. stockholders’ equity	297,584	262,221
Noncontrolling interests - Artisan Partners Holdings	25,740	17,136
Total stockholders’ equity	323,324	279,357
Total liabilities, redeemable noncontrolling interests, and stockholders’ equity	1,417,678	1,234,608
Consolidated Entity, Excluding VIE
ASSETS
Cash and cash equivalents	198,308	114,832
Investment securities	139,630	85,415
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND STOCKHOLDERS’ EQUITY
Accounts payable, accrued expenses, and other	23,872	24,414
Variable Interest Entity, Primary Beneficiary
ASSETS
Cash and cash equivalents	32,221	28,416
Investment securities	336,429	255,743
Accounts receivable and other	10,993	4,977
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND STOCKHOLDERS’ EQUITY
Accounts payable, accrued expenses, and other	37,379	26,358
Investment liabilities, at fair value	13,314	20,751
Class A Common Stock
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND STOCKHOLDERS’ EQUITY
Common stock	685	680
Class B Common Stock
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND STOCKHOLDERS’ EQUITY
Common stock	25	26
Class C Common Stock
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND STOCKHOLDERS’ EQUITY
Common stock	$ 90	$ 90

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Common stock, shares, outstanding (in shares)	79,962,701	79,606,056
Class A Common Stock
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares, outstanding (in shares)	68,481,220	67,982,025
Class B Common Stock
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares, outstanding (in shares)	2,456,534	2,583,884
Class C Common Stock
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares, outstanding (in shares)	9,024,947	9,040,147

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from contract with customer	$ 248,722	$ 234,312	$ 726,134	$ 767,298
Total revenues	248,722	234,312	726,134	767,298
Operating Expenses
Compensation and benefits	130,648	122,033	392,593	389,359
Distribution, servicing and marketing	6,153	5,593	17,786	18,952
Occupancy	7,244	7,127	21,506	20,407
Communication and technology	12,974	12,441	38,395	37,704
General and administrative	9,548	8,392	28,690	26,751
Total operating expenses	166,567	155,586	498,970	493,173
Total operating income	82,155	78,726	227,164	274,125
Non-operating income (expense)
Interest expense	(2,297)	(2,428)	(6,520)	(7,853)
Net gain (loss) on the tax receivable agreements	505	431	505	913
Total non-operating income (expense)	5,843	(11,496)	43,503	(45,274)
Income before income taxes	87,998	67,230	270,667	228,851
Provision for income taxes	14,570	14,750	51,663	46,761
Net income before noncontrolling interests	73,428	52,480	219,004	182,090
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings	11,319	10,999	35,493	37,150
Less: Net income (loss) attributable to noncontrolling interests - consolidated investment products	8,954	(2,754)	25,978	(9,007)
Net income attributable to Artisan Partners Asset Management Inc.	$ 53,155	$ 44,235	$ 157,533	$ 153,947
Basic earnings per share (in dollars per share)	$ 0.76	$ 0.65	$ 2.27	$ 2.17
Diluted earnings per share (in dollars per share)	$ 0.76	$ 0.65	$ 2.27	$ 2.17
Basic weighted average number of common shares outstanding (in shares)	63,520,402	62,623,434	63,419,587	62,329,756
Diluted weighted average number of common shares outstanding (in shares)	63,563,044	62,632,660	63,449,804	62,353,275
Dividends declared per Class A common share (in dollars per share)	$ 0.61	$ 0.60	$ 2.01	$ 3.11
Variable Interest Entity, Primary Beneficiary
Non-operating income (expense)
Other net investment gain (loss)	$ 9,787	$ (3,936)	$ 38,189	$ (14,605)
Consolidated Entity, Excluding VIE
Non-operating income (expense)
Other net investment gain (loss)	(2,152)	(5,563)	11,329	(23,729)
Management fees
Revenue from contract with customer	248,691	234,191	725,980	766,901
Performance fees
Revenue from contract with customer	$ 31	$ 121	$ 154	$ 397

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net income before noncontrolling interests	$ 73,428	$ 52,480	$ 219,004	$ 182,090
Foreign currency translation gain (loss)	(770)	(1,518)	144	(3,476)
Total other comprehensive income (loss)	(770)	(1,518)	144	(3,476)
Comprehensive income	72,658	50,962	219,148	178,614
Comprehensive income attributable to Artisan Partners Asset Management Inc.	52,500	42,916	157,443	150,967
Artisan Partners Holdings LP
Comprehensive income attributable to noncontrolling interests	11,204	10,800	$ 35,727	36,654
Consolidated Investment Products
Comprehensive income attributable to noncontrolling interests	$ 8,954	$ (2,754)		$ (9,007)

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Common Stock Class C Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests - Artisan Partners Holdings
Balance at beginning of period at Dec. 31, 2021	$ 295,961	$ 667	$ 32	$ 91	$ 141,835	$ 134,889	$ (1,310)	$ 19,757
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income before noncontrolling interests	182,090					153,947		37,150
Net income	191,097
Other comprehensive income - foreign currency translation	(3,476)						(2,950)	(526)
Cumulative impact of changes in ownership of Artisan Partners Holdings LP	0				(262)		(29)	291
Amortization of equity-based compensation	31,613				27,026			4,587
Deferred tax assets, net of amounts payable under tax receivable agreements	1,708				1,708
Issuance of Class A common stock, net of issuance costs	(9)	0			(9)
Forfeitures and employee/partner terminations	0	0			0
Issuance of restricted stock awards	0	8			(8)
Employee net share settlement	(7,754)	(2)			(6,521)	(26)		(1,205)
Exchange of subsidiary equity	0	6	(6)	0
Distributions	(43,721)							(43,721)
Dividends	(210,306)				0	(210,169)		(137)
Balance at end of period at Sep. 30, 2022	255,113	679	26	91	163,769	78,641	(4,289)	16,196
Beginning balance at Dec. 31, 2021				111,035
Redeemable Noncontrolling Interests
Comprehensive income (loss) attributable to noncontrolling interests - consolidated investment products	(9,007)
Capital contributions, net	36,126
Impact of deconsolidation of CIPs	(9,273)
Ending balance at Sep. 30, 2022	128,881
Balance at beginning of period at Jun. 30, 2022	243,294	674	31	91	153,134	75,443	(2,971)	16,892
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income before noncontrolling interests	52,480					44,235		10,999
Net income	55,234
Other comprehensive income - foreign currency translation	(1,518)						(1,294)	(224)
Cumulative impact of changes in ownership of Artisan Partners Holdings LP	0				889		(24)	(865)
Amortization of equity-based compensation	10,159				8,660			1,499
Deferred tax assets, net of amounts payable under tax receivable agreements	1,378				1,378
Issuance of Class A common stock, net of issuance costs	(7)	0			(7)
Forfeitures and employee/partner terminations		0			0
Issuance of restricted stock awards	0	0			0
Employee net share settlement	(334)	0			(285)	(1)		(48)
Exchange of subsidiary equity	0	5	(5)	0
Distributions	(12,026)							(12,026)
Dividends	(41,067)				0	(41,036)		(31)
Balance at end of period at Sep. 30, 2022	255,113	679	26	91	163,769	78,641	(4,289)	16,196
Beginning balance at Jun. 30, 2022	127,078
Redeemable Noncontrolling Interests
Comprehensive income (loss) attributable to noncontrolling interests - consolidated investment products	(2,754)
Capital contributions, net	4,557
Impact of deconsolidation of CIPs	0
Ending balance at Sep. 30, 2022	128,881
Balance at beginning of period at Dec. 31, 2022	279,357	680	26	90	171,416	93,088	(3,079)	17,136
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income before noncontrolling interests	219,004					157,533		35,493
Net income	193,026
Other comprehensive income - foreign currency translation	144						(90)	234
Cumulative impact of changes in ownership of Artisan Partners Holdings LP	0				(696)		(77)	773
Amortization of equity-based compensation	26,012				22,489			3,523
Deferred tax assets, net of amounts payable under tax receivable agreements	421				421
Issuance of Class A common stock, net of issuance costs	(85)	0			(85)
Forfeitures and employee/partner terminations	0	0			0
Issuance of restricted stock awards	0	6			(6)
Employee net share settlement	(6,758)	(2)			(5,775)	0		(981)
Exchange of subsidiary equity	0	1	(1)	0
Distributions	(30,341)							(30,341)
Dividends	(138,452)				0	(138,355)		(97)
Balance at end of period at Sep. 30, 2023	323,324	685	25	90	187,764	112,266	(3,246)	25,740
Beginning balance at Dec. 31, 2022	135,280
Redeemable Noncontrolling Interests
Comprehensive income (loss) attributable to noncontrolling interests - consolidated investment products	25,978
Capital contributions, net	76,997
Impact of deconsolidation of CIPs	(18,529)
Ending balance at Sep. 30, 2023	219,726
Balance at beginning of period at Jun. 30, 2023	306,737	685	25	90	181,484	101,243	(2,531)	25,741
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income before noncontrolling interests	73,428					53,155		11,319
Net income	64,474
Other comprehensive income - foreign currency translation	(770)						(655)	(115)
Cumulative impact of changes in ownership of Artisan Partners Holdings LP	0				(532)		(60)	592
Amortization of equity-based compensation	7,895				6,781			1,114
Deferred tax assets, net of amounts payable under tax receivable agreements	32				32
Issuance of Class A common stock, net of issuance costs	(1)	0			(1)
Forfeitures and employee/partner terminations	0	0			0
Issuance of restricted stock awards	0	0			0
Employee net share settlement	0	0			0	0		0
Exchange of subsidiary equity	0	0	0	0
Distributions	(12,883)							(12,883)
Dividends	(42,160)				0	(42,132)		(28)
Balance at end of period at Sep. 30, 2023	323,324	$ 685	$ 25	$ 90	$ 187,764	$ 112,266	$ (3,246)	$ 25,740
Beginning balance at Jun. 30, 2023	206,288
Redeemable Noncontrolling Interests
Comprehensive income (loss) attributable to noncontrolling interests - consolidated investment products	8,954
Capital contributions, net	23,013
Impact of deconsolidation of CIPs	(18,529)
Ending balance at Sep. 30, 2023	$ 219,726

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net income before noncontrolling interests	$ 73,428	$ 52,480	$ 219,004	$ 182,090
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			6,896	5,618
Deferred income taxes	9,043	7,307	32,286	21,697
Noncash lease expense (benefit)			(158)	1,271
Net investment (gain) loss on nonconsolidated investment securities			(7,551)	23,777
Net (gain) loss on the tax receivable agreements	(505)	(431)	(505)	(913)
(Gain) loss on disposal of property and equipment			2	38
Amortization of debt issuance costs			333	329
Share-based compensation			26,012	31,613
Purchase of investments by consolidated investment products			(325,922)	(319,093)
Proceeds from sale of investments by consolidated investment products			224,288	151,198
Change in assets and liabilities resulting in an increase (decrease) in cash:
Accounts receivable			2,232	12,416
Prepaid expenses and other assets			431	2,527
Accounts payable and accrued expenses			100,060	94,611
Net change in operating assets and liabilities of consolidated investment products including net investment income			23,583	84,838
Net cash provided by operating activities			262,802	306,622
Cash flows from investing activities
Acquisition of property and equipment			(585)	(5,284)
Leasehold improvements			(5,690)	(11,007)
Proceeds from sale of investment securities			5,226	5,164
Purchase of investment securities			(35,483)	(49,337)
Net cash used in investing activities			(36,532)	(60,464)
Cash flows from financing activities
Partnership distributions			(30,341)	(43,721)
Dividends paid			(138,451)	(210,306)
Payment of debt issuance costs			0	543
Proceeds from issuance of notes payable			0	90,000
Principal payments on notes payable			0	90,000
Payments under the tax receivable agreements			(35,757)	(33,109)
Taxes paid related to employee net share settlement			(6,758)	(7,754)
Capital contributions to consolidated investment products, net			76,997	36,126
Net cash used in financing activities			(134,310)	(259,307)
Net increase (decrease) in cash, cash equivalents, and restricted cash			91,960	(13,149)
Net cash impact of deconsolidation of CIPs	(4,679)	0	(4,679)	0
Cash, cash equivalents and restricted cash
Beginning of period			143,248	200,771
End of period	230,529	187,622	230,529	187,622
Cash, cash equivalents and restricted cash as of the end of the period
Restricted cash	0	629	0	629
Cash, cash equivalents and restricted cash	230,529	187,622	230,529	187,622
Noncash activity:
Establishment of deferred tax assets			3,214	8,327
Establishment of amounts payable under tax receivable agreements			828	5,929
Increase in investment securities due to deconsolidation of CIPs			19,612	9,970
Operating lease assets obtained in exchange for operating lease liabilities			78	32,070
Settlement of franchise capital liability via transfer of investment securities			3,204	0
Consolidated Entity, Excluding VIE
Adjustments to reconcile net income to net cash provided by operating activities:
Net investment (gain) loss of consolidated investment products	2,152	5,563	(11,329)	23,729
Cash, cash equivalents and restricted cash as of the end of the period
Cash and cash equivalents	198,308	168,123	198,308	168,123
Cash and cash equivalents	198,308	168,123	198,308	168,123
Variable Interest Entity, Primary Beneficiary
Adjustments to reconcile net income to net cash provided by operating activities:
Net investment (gain) loss of consolidated investment products	(9,787)	3,936	(38,189)	14,605
Cash, cash equivalents and restricted cash as of the end of the period
Cash and cash equivalents	32,221	18,870	32,221	18,870
Cash and cash equivalents	$ 32,221	$ 18,870	$ 32,221	$ 18,870

Nature of Business and Organiza

Nature of Business and Organization	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Organization	Note 1. Nature of Business and Organization Nature of Business Artisan Partners Asset Management Inc. (“APAM”), through its subsidiaries, is an investment management firm focused on providing high-value added, active investment strategies to sophisticated clients globally. APAM and its subsidiaries are hereafter referred to collectively as “Artisan” or the “Company.” Artisan’s autonomous investment teams manage a broad range of U.S., non-U.S. and global investment strategies that are diversified by asset class, market cap and investment style. Strategies are offered through multiple investment vehicles to accommodate a broad range of client mandates. Artisan offers its investment management services primarily to institutions and through intermediaries that operate with institutional-like decision-making processes and have long-term investment horizons. Organization On March 12, 2013, APAM completed its initial public offering (the “IPO”). APAM was formed for the purpose of becoming the general partner of Artisan Partners Holdings LP (“Artisan Partners Holdings” or “Holdings”) in connection with the IPO. Holdings is a holding company for the investment management business conducted under the name “Artisan Partners.” The reorganization (“IPO Reorganization”) established the necessary corporate structure to complete the IPO while at the same time preserving the ability of the firm to conduct operations through Holdings and its subsidiaries. As its sole general partner, APAM controls the business and affairs of Holdings. As a result, APAM consolidates Holdings’ financial statements and records a noncontrolling interest for the equity interests in Holdings held by the limited partners of Holdings. At September 30, 2023, APAM held approximately 86% of the equity ownership interest in Holdings. Holdings, together with its wholly owned subsidiary, Artisan Investments GP LLC, controls a 100% interest in Artisan Partners Limited Partnership (“APLP”), a multi-product investment management firm that is the principal operating subsidiary of Artisan Partners Holdings. APLP is registered as an investment adviser with the U.S. Securities and Exchange Commission under the Investment Advisers Act of 1940. APLP provides investment advisory services to traditional separate accounts and pooled investment vehicles, including Artisan Partners Funds, Inc. (“Artisan Funds”), Artisan Partners Global Funds plc (“Artisan Global Funds”), and Artisan sponsored private funds (“Artisan Private Funds”). Artisan Funds are a series of open-end mutual funds registered under the Investment Company Act of 1940, as amended. Artisan Global Funds is a family of Ireland-domiciled UCITS funds. Artisan Private Funds consist of a number of Artisan-sponsored unregistered pooled investment vehicles.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of presentation The accompanying financial statements are unaudited. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of such consolidated financial statements have been included. Such interim results are not necessarily indicative of full year results. The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial reporting and accordingly they do not include all of the information and footnotes required in the annual consolidated financial statements and accompanying footnotes. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. As a result, the interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in APAM’s latest annual report on Form 10-K. The accompanying financial statements were prepared in accordance with U.S. GAAP and related rules and regulations of the SEC. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates or assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from these estimates or assumptions. Principles of consolidation Artisan’s policy is to consolidate all subsidiaries or other entities in which it has a controlling financial interest. The consolidation guidance requires an analysis to determine if an entity should be evaluated for consolidation using the voting interest entity (“VOE”) model or the variable interest entity (“VIE”) model. Under the VOE model, controlling financial interest is generally defined as a majority ownership of voting interests. Under the VIE model, controlling financial interest is defined as (i) the power to direct activities that most significantly impact the economic performance of the entity and (ii) the right to receive potentially significant benefits or the obligation to absorb potentially significant losses. Artisan generally consolidates VIEs in which it meets the power criteria and holds an equity ownership interest of greater than 10%. The consolidated financial statements include the accounts of APAM and all subsidiaries or other entities in which APAM has a direct or indirect controlling financial interest. All material intercompany balances have been eliminated in consolidation. Artisan serves as the investment adviser to Artisan Funds, Artisan Global Funds and Artisan Private Funds. Artisan Funds and Artisan Global Funds are corporate entities, the business and affairs of which are managed by their respective boards of directors. The shareholders of the funds retain voting rights, including rights to elect and reelect members of their respective boards of directors. Each series of Artisan Funds is a VOE and is separately evaluated for consolidation under the VOE model. The shareholders of Artisan Global Funds lack simple majority liquidation rights, and as a result, each sub-fund of Artisan Global Funds is evaluated for consolidation under the VIE model. Artisan Private Funds are also evaluated for consolidation under the VIE model because third-party equity holders of the funds generally lack the ability to divest Artisan of its control of the funds. From time to time, the Company makes investments in Artisan Funds, Artisan Global Funds, and Artisan Private Funds. If the investment results in a controlling financial interest, APAM consolidates the fund, and the underlying activity of the entire fund is included in Artisan’s unaudited consolidated financial statements. As of September 30, 2023, Artisan had a controlling financial interest in one series of Artisan Funds, five sub-funds of Artisan Global Funds, and two Artisan Private Funds and, as a result, these funds are included in Artisan’s unaudited consolidated financial statements. Because these consolidated investment products meet the definition of investment companies under U.S. GAAP, Artisan has retained the specialized industry accounting principles for investment companies in the consolidated financial statements. See Note 6, “Variable Interest Entities and Consolidated Investment Products” for additional details. Reclassification In conjunction with annual reporting on Form 10-K for the year ended December 31, 2022, the Company changed the presentation of its Consolidated Statements of Operations to recategorize expenditures for computers and mobile devices from “General and administrative” to “Communication and technology.” Amounts for the comparative period in fiscal 2022 presented herein have been reclassified to conform to the current presentation. The reclassification had no impact on previously reported operating income, net income, or financial position. Management believes the revised presentation is more useful to readers of its financial statements. Recent accounting pronouncements

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Note 3. Investment Securities The disclosures below include details of Artisan’s investments, excluding money market funds and consolidated investment products. Investments held by consolidated investment products are described in Note 6, “Variable Interest Entities and Consolidated Investment Products.” As of September 30, 2023 As of December 31, 2022 Investments in equity securities $ 128,822 $ 76,156 Investments in equity securities accounted for under the equity method 10,808 9,259 Total investment securities $ 139,630 $ 85,415 Artisan’s investments in equity securities consist of investments in Artisan Funds, Artisan Global Funds and Artisan Private Funds. As of September 30, 2023 and December 31, 2022, Artisan held investment securities of $96.6 million and $63.3 million, respectively, related to funded long-term incentive compensation plans (excluding investments in consolidated investment products). Unrealized gain (loss) related to investment securities held at the end of the periods indicated below were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Unrealized gain (loss) on investment securities held at the end of the period $ (3,901) $ (6,675) $ 6,458 $ (24,145) Other net investment gain (loss) is presented within the non-operating income (expense) section of the Consolidated Statements of Operations. The components of other net investment gain (loss) are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Net investment gain (loss) on nonconsolidated seed investments $ 214 $ (1,649) $ 1,424 $ (4,585) Net investment gain (loss) on franchise capital investments (4,454) (3,987) 6,127 (19,192) Interest income on cash and cash equivalents and other 2,088 73 3,778 48 Other net investment gain (loss) $ (2,152) $ (5,563) $ 11,329 $ (23,729)

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4. Fair Value Measurements The table below presents information about Artisan’s assets and liabilities that are measured at fair value and the valuation techniques Artisan utilized to determine such fair value. The financial instruments held by consolidated investment products are excluded from the table below and are presented in Note 6, “Variable Interest Entities and Consolidated Investment Products.” In accordance with ASC 820, fair value is defined as the price that Artisan would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. The following three-tier fair value hierarchy prioritizes the inputs used in measuring fair value: • Level 1 – Observable inputs such as quoted (unadjusted) market prices in active markets for identical securities. • Level 2 – Other significant observable inputs (including but not limited to quoted prices for similar instruments, interest rates, prepayment speeds, credit risk, etc.). • Level 3 – Significant unobservable inputs (including Artisan’s own assumptions in determining fair value). The following provides the hierarchy of inputs used to derive fair value of Artisan’s assets and liabilities that are financial instruments as of September 30, 2023 and December 31, 2022: Assets and Liabilities at Fair Value Total NAV Practical Expedient (No Fair Value Level) Level 1 Level 2 Level 3 September 30, 2023 Assets Money market funds 1 $ 167,310 $ — $ 167,310 $ — $ — Equity securities 139,630 10,306 129,324 — — December 31, 2022 Assets Money market funds 1 $ 3,297 $ — $ 3,297 $ — $ — Equity securities 85,415 8,835 76,580 — — 1 Money market funds are included within the cash and cash equivalents line of the Unaudited Condensed Consolidated Statements of Financial Condition.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Borrowings	Note 5. Borrowings Artisan’s borrowings consist of the following as of September 30, 2023 and December 31, 2022: Maturity (1) As of September 30, 2023 As of December 31, 2022 Interest Rate Per Annum Revolving credit agreement August 2027 $ — $ — NA Senior notes Series D August 2025 60,000 60,000 4.29 % Series E August 2027 50,000 50,000 4.53 % Series F August 2032 90,000 90,000 3.10 % Total gross borrowings $ 200,000 $ 200,000 Debt issuance costs $ (774) $ (950) Total borrowings $ 199,226 $ 199,050 (1) The Company is not required to make principal payments on any of the outstanding obligations prior to contractual maturity. The fair value of borrowings was approximately $176.4 million as of September 30, 2023. Fair value was determined based on future cash flows, discounted to present value using current market interest rates. The inputs are categorized as Level 2 in the fair value hierarchy, as defined in Note 4, “Fair Value Measurements.” The fixed interest rate on each series of unsecured notes is subject to a one percentage point increase in the event Holdings receives a below-investment grade rating and any such increase will continue to apply until an investment grade rating is received. As of September 30, 2023, there were no borrowings outstanding under the $100.0 million revolving credit facility and the interest rate on the unused commitment was 0.15%. Interest expense incurred on the unsecured notes and revolving credit agreement was $1.9 million and $2.3 million for the three months ended September 30, 2023 and 2022, respectively, and $5.8 million and $7.4 million for the nine months ended September 30, 2023 and 2022, respectively.

Variable Interest Entities and

Variable Interest Entities and Consolidated Investment Products	9 Months Ended
	Sep. 30, 2023
Fair Value Measurements, Recurring and Non-recurring [Abstract]
Variable Interest Entities and Consolidated Investment Products	Note 6. Variable Interest Entities and Consolidated Investment Products Artisan serves as the investment adviser for various types of investment products, consisting of both VIEs and VOEs. Artisan consolidates an investment product if it has a controlling financial interest in the entity. See Note 2, ”Summary of Significant Accounting Policies.” Any such entities are collectively referred to herein as consolidated investment products or CIPs. As of September 30, 2023, Artisan is considered to have a controlling financial interest in one series of Artisan Funds, five sub-funds of Artisan Global Funds and two Artisan Private Funds, with an aggregate direct equity investment in the consolidated investment products of $109.2 million. Artisan’s maximum exposure to loss in connection with the assets and liabilities of CIPs is limited to its direct equity investment, while the potential benefit is limited to the management and performance fees received and the return on its equity investment. With the exception of Artisan’s direct equity investment, the assets of CIPs are not available to Artisan’s creditors, nor are they available to Artisan for general corporate purposes. In addition, third-party investors in the CIPs have no recourse to the general credit of the Company. Management and performance fees earned from CIPs are eliminated from revenue upon consolidation. See Note 14, “Related Party Transactions” for additional information on management and performance fees earned from CIPs. Third-party investors’ ownership interest in CIPs is presented as redeemable noncontrolling interests in the unaudited condensed consolidated statements of financial condition as third-party investors have the right to withdraw their capital, subject to certain conditions. Net income attributable to third-party investors is reported as net income (loss) attributable to noncontrolling interests - consolidated investment products in the unaudited consolidated statements of operations. During the nine months ended September 30, 2023, the Company determined that it no longer had a controlling financial interest in one series of Artisan Funds as a result of third party capital contributions. Upon loss of control, the fund was deconsolidated and the related assets, liabilities, and equity of the fund were derecognized from the Company’s unaudited condensed consolidated statements of financial condition. There was no net impact to the unaudited consolidated statement of operations for the nine months ended September 30, 2023. Artisan generally does not recognize a gain or loss upon deconsolidation of investment products as the assets and liabilities of CIPs are carried at fair value. Artisan’s $19.6 million direct equity investment was reclassified from investment assets of consolidated investment products to investment securities. As of September 30, 2023, Artisan held direct equity investments of $10.8 million in VIEs for which the Company does not hold a controlling financial interest. These direct equity investments consisted of seed investments in sub-funds of Artisan Global Funds and Artisan Private Funds, both of which are accounted for under the equity method of accounting because Artisan has significant influence over the funds. Fair Value Measurements - Consolidated Investment Products Investments held by CIPs are reflected at fair value. Short and long positions on equity securities are valued based upon closing prices of the security on the exchange or market designated by the accounting agent or pricing vendor as the principal exchange. The closing price may represent last sale price, official closing price, a closing auction or other information depending on market convention. Short and long positions on fixed income instruments are valued at market value. Market values are generally evaluations based on prices provided by independent pricing vendors, which may consider, among other factors, the prices at which securities actually trade, broker-dealer quotations, pricing formulas, estimates of market values obtained from yield data relating to investments or securities with similar characteristics and/or discounted cash flow models that might be applicable. Short term investments are comprised of repurchase agreements and U.S. Treasury obligations. Repurchase agreements are valued at cost plus accrued interest and U.S. treasury obligations are valued using the same principles as fixed income securities. Derivative assets and liabilities are generally comprised of put and call options on securities and indices and forward foreign currency contracts. Put and call options are valued at the mid price (average of bid price and ask price) as provided by the pricing vendor at the close of trading on the contract’s principal exchange. Open forward foreign currency contracts are valued using the market spot rate. The following tables present the fair value hierarchy levels of assets and liabilities held by CIPs measured at fair value as of September 30, 2023 and December 31, 2022: Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 September 30, 2023 Assets Money market funds $ 26,682 $ 26,682 $ — $ — Equity securities - long position 35,007 32,632 2,074 301 Fixed income instruments - long position 293,274 — 288,729 4,545 Derivative assets 843 — 843 — Short term investments 7,305 — 7,305 — Liabilities Fixed income instruments - short position $ 10,410 $ 364 $ 10,046 $ — Derivative liabilities 2,904 — 2,904 — Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 December 31, 2022 Assets Money market funds $ 25,140 $ 25,140 $ — $ — Equity securities - long position 32,388 30,179 2,209 — Fixed income instruments - long position 216,638 — 212,368 4,270 Derivative assets 951 74 877 — Short term investments 5,766 — 5,766 — Liabilities Equity securities - short position $ 256 $ 256 $ — $ — Fixed income instruments - short position 17,273 — 17,273 — Derivative liabilities 3,222 2,462 760 — CIP balances included in the Company’s unaudited condensed consolidated statements of financial condition were as follows: As of September 30, 2023 As of December 31, 2022 Net CIP assets included in the table above $ 349,797 $ 260,132 Net CIP assets/(liabilities) not included in the table above (20,847) (18,105) Total Net CIP assets 328,950 242,027 Less: redeemable noncontrolling interests 219,726 135,280 Artisan’s direct equity investment in CIPs $ 109,224 $ 106,747

Noncontrolling Interests - Hold

Noncontrolling Interests - Holdings	9 Months Ended
	Sep. 30, 2023
Noncontrolling Interest [Abstract]
Noncontrolling Interests - Holdings	Note 7. Noncontrolling Interests - Holdings Net income attributable to noncontrolling interests - Artisan Partners Holdings in the unaudited consolidated statements of operations represents the portion of earnings or loss attributable to the equity ownership interests in Holdings held by the limited partners of Holdings. As of September 30, 2023, APAM held approximately 86% of the equity ownership interests in Holdings. Limited partners of Artisan Partners Holdings are entitled to exchange partnership units (along with a corresponding number of shares of Class B or C common stock of APAM) for shares of Class A common stock from time to time (the “Holdings Common Unit Exchanges”). The Holdings Common Unit Exchanges increase APAM’s equity ownership interest in Holdings and result in an increase to deferred tax assets and amounts payable under the tax receivable agreements. See Note 11, “Income Taxes and Related Payments.” In order to maintain the one-to-one correspondence of the number of Holdings partnership units and APAM common shares, Holdings will issue one general partner (“GP”) unit to APAM for each share of Class A common stock issued by APAM. For the nine months ended September 30, 2023, APAM’s equity ownership interest in Holdings increased as a result of the following transactions: Holdings GP Units Limited Partnership Units Total APAM Ownership % Balance at December 31, 2022 67,982,025 11,624,031 79,606,056 85 % Holdings Common Unit Exchanges (1) 142,550 (142,550) — — % Issuance of APAM Restricted Shares 515,702 — 515,702 1 % Delivery of Shares Underlying RSUs and PSUs (1) 46,146 — 46,146 — % Restricted Share Award Net Share Settlement (1) (187,287) — (187,287) — % Forfeitures from Employee Terminations (1) (17,916) — (17,916) — % Balance at September 30, 2023 68,481,220 11,481,481 79,962,701 86 % (1) The impact of the transaction on APAM’s ownership percentage was less than 1%. Changes in ownership of Holdings are accounted for as equity transactions because APAM continues to have a controlling interest in Holdings. Additional paid-in capital and noncontrolling interests - Artisan Partners Holdings in the unaudited condensed consolidated statements of financial condition are adjusted to reallocate Holdings’ historical equity to reflect the change in APAM’s ownership of Holdings. The reallocation of equity had the following impact on the unaudited condensed consolidated statements of financial condition: Statements of Financial Condition For the Nine Months Ended September 30, 2023 2022 Additional paid-in capital $ (696) $ (262) Noncontrolling interests - Artisan Partners Holdings 773 291 Accumulated other comprehensive income (loss) (77) (29) Net impact to financial condition $ — $ — In addition to the reallocation of historical equity, the change in ownership resulted in an increase to deferred tax assets and additional paid-in capital of $0.2 million and $0.5 million for the nine months ended September 30, 2023 and 2022, respectively.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 8. Stockholders’ Equity APAM - Stockholders’ Equity APAM had the following authorized and outstanding equity as of September 30, 2023 and December 31, 2022, respectively: Outstanding Authorized As of September 30, 2023 As of December 31, 2022 Voting Rights (1) Economic Rights Common shares Class A, par value $0.01 per share 500,000,000 68,481,220 67,982,025 1 vote per share Proportionate Class B, par value $0.01 per share 200,000,000 2,456,534 2,583,884 1 vote per share None Class C, par value $0.01 per share 400,000,000 9,024,947 9,040,147 1 vote per share None (1) The Company’s employees to whom Artisan has granted equity have entered into a stockholders agreement with respect to all shares of APAM common stock they have acquired from the Company and any shares they may acquire from the Company in the future, pursuant to which they granted an irrevocable voting proxy to a Stockholders Committee. As of September 30, 2023, Artisan’s employees held 5,242,987 restricted shares of Class A common stock and all 2,456,534 outstanding shares of Class B common stock, all of which were subject to the agreement. APAM is dependent on cash generated by Holdings to fund any dividends. Generally, Holdings will make distributions to all of its partners, including APAM, based on the proportionate share of ownership each has in Holdings. APAM will fund dividends to its stockholders from its proportionate share of those distributions after provision for its taxes and other obligations. APAM declared and paid the following dividends per share during the three and nine months ended September 30, 2023 and 2022: Type of Dividend Class of Stock For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Quarterly Class A Common $ 0.61 $ 0.60 $ 1.66 $ 2.39 Special Annual Class A Common $ — $ — $ 0.35 $ 0.72 The following table summarizes APAM’s stock transactions for the nine months ended September 30, 2023: Total Stock Outstanding Class A Common Stock (1) Class B Common Stock Class C Common Stock Balance at December 31, 2022 79,606,056 67,982,025 2,583,884 9,040,147 Holdings Common Unit Exchanges — 142,550 (127,350) (15,200) Restricted Share Award Grants 515,702 515,702 — — Restricted Share Award Net Share Settlement (187,287) (187,287) — — Delivery of Shares Underlying RSUs and PSUs 46,146 46,146 — — Employee/Partner Terminations (17,916) (17,916) — — Balance at September 30, 2023 79,962,701 68,481,220 2,456,534 9,024,947 (1) There were 415,112 and 367,392 restricted stock units outstanding at September 30, 2023 and December 31, 2022, respectively. In addition, there were 216,170 and 231,170 performance share units outstanding at September 30, 2023 and December 31, 2022, respectively. Based on the quarter-end status of the market and performance conditions, the 216,170 unvested performance share units would ultimately result in the issuance of 264,143 shares of Class A common stock if all other vesting conditions were met. Restricted stock units and performance share units are not reflected in the table because they are not considered outstanding or issued stock. Each Class A, Class B, Class D and Class E common unit of Holdings (together with the corresponding share of Class B or Class C common stock) is exchangeable for one share of Class A common stock. The corresponding shares of Class B and Class C common stock are immediately canceled upon any such exchange. Upon termination of employment with Artisan, an employee-partner’s Class B common units are exchanged for Class E common units and the corresponding shares of Class B common stock are canceled. APAM issues the former employee-partner a number of shares of Class C common stock equal to the former employee-partner’s number of Class E common units. Class E common units are exchangeable for Class A common stock subject to the same restrictions and limitations on exchange applicable to the other common units of Holdings. Artisan Partners Holdings - Partners’ Equity Holdings makes distributions of its net income to the holders of its partnership units for income taxes as required under the terms of the partnership agreement and also makes additional distributions under the terms of the partnership agreement as required. The distributions are recorded in the financial statements on the declaration date, or on the payment date in lieu of a declaration date. Holdings’ partnership distributions for the three and nine months ended September 30, 2023 and 2022 were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Holdings Partnership Distributions to Limited Partners $ 12,883 $ 12,026 $ 30,341 $ 43,721 Holdings Partnership Distributions to APAM 72,419 64,441 169,102 227,165 Total Holdings Partnership Distributions $ 85,302 $ 76,467 $ 199,443 $ 270,886 The distributions are recorded as a reduction to consolidated stockholders’ equity, with the exception of distributions made to APAM, which are eliminated upon consolidation.

Revenue From Contracts with Cus

Revenue From Contracts with Customers	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue From Contracts with Customers	Note 9. Revenue From Contracts with Customers The following table presents a disaggregation of investment advisory revenue by type and vehicle for the three and nine months ended September 30, 2023 and 2022: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Management fees Artisan Funds $ 145,269 $ 135,919 $ 420,244 $ 445,260 Artisan Global Funds 11,220 10,423 32,388 33,192 Separate accounts and other (1) 92,202 87,849 273,348 288,449 Performance fees Separate accounts and other (1) 31 121 154 397 Total revenues (2) $ 248,722 $ 234,312 $ 726,134 $ 767,298 (1) Separate accounts and other revenue consists of management fees and performance fees earned from vehicles other than Artisan Funds or Artisan Global Funds, and therefore includes revenue earned from traditional separate accounts, Artisan-branded collective investment trusts and Artisan Private Funds. (2) All management fees and performance fees from consolidated investment products were eliminated upon consolidation and therefore are omitted from this table. See Note 14, “Related Party Transactions.” The following table presents the balances of receivables related to contracts with customers: Customer As of September 30, 2023 As of December 31, 2022 Artisan Funds $ 6,096 $ 5,597 Artisan Global Funds 4,578 4,453 Separate accounts and other 77,976 74,936 Total receivables from contracts with customers $ 88,650 $ 84,986 Non-customer receivables 7,412 13,648 Accounts receivable $ 96,062 $ 98,634 Artisan Funds and Artisan Global Funds are billed on the last day of each month. Artisan Funds and Artisan Global Funds make payments on the same day the invoice is received for the majority of the invoiced amount. The remainder of the invoice is generally paid in the month following receipt of the invoice. Separate accounts and other clients are generally billed on a monthly or quarterly basis, with payments due within 30 days of billing. Artisan had no other contract assets or liabilities from contracts with customers as of September 30, 2023 or December 31, 2022. Non-customer receivables include state tax payments made on behalf of certain limited partners, which are then netted from subsequent distributions or payments to the limited partners, as well as redemptions of investments related to franchise capital that have not yet been collected.

Compensation and Benefits

Compensation and Benefits	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Compensation and Benefits	Note 10. Compensation and Benefits Total compensation and benefits consist of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Salaries, incentive compensation and benefits (1) $ 118,271 $ 109,563 $ 350,147 $ 352,221 Long-term cash incentive compensation expense 4,625 2,453 17,969 7,065 Restricted share-based award compensation expense 7,752 10,017 24,477 30,073 Long-term incentive compensation expense 12,377 12,470 42,446 37,138 Total compensation and benefits $ 130,648 $ 122,033 $ 392,593 $ 389,359 (1) Excluding long-term incentive compensation expense Incentive compensation Cash incentive compensation paid to members of Artisan’s investment teams and members of its distribution team is generally based on formulas that are tied directly to revenues. The majority of this incentive compensation is earned on a quarterly basis and paid in the quarter following the quarter in which it was earned with the exception of fourth quarter incentive compensation which is earned and paid in the fourth quarter of the year. Cash incentive compensation paid to most other employees is determined based on individual performance and Artisan’s overall results during the applicable year and is generally paid on an annual basis. Long-term incentive compensation awards consist of both APAM restricted share-based awards and long-term cash awards, which are referred to as franchise capital awards. These awards are described in more detail below. Restricted share-based awards APAM has granted a combination of restricted stock awards, restricted stock units, and performance share units (collectively referred to as “restricted share-based awards” or “awards”) of Class A common stock to employees. Standard Restricted Shares. Standard restricted shares are generally subject to a pro rata five-year service vesting condition. Career Shares. Career shares are generally subject to both (i) a pro rata five-year service vesting condition and (ii) a qualifying retirement (as defined in the award agreement) condition. Franchise Shares. Like career shares, franchise shares are generally subject to both (i) a pro rata five-year service vesting condition and (ii) a qualifying retirement condition. In addition, franchise shares, which are only granted to investment team members, are subject to a Franchise Protection Clause, which provides that the number of shares that ultimately vest depends on whether certain conditions relating to client cash flows are met. If such conditions are not met, compensation cost related to unvested shares will be reversed. Performance Share Units (PSUs) . PSUs are generally subject to (i) a three-year service vesting condition, (ii) certain performance conditions related to the Company's adjusted operating margin and total shareholder return compared to a peer group during a three-year performance period, and (iii) for one-half of the PSUs eligible to vest at the end of the performance period, a qualifying retirement condition. The number of shares of Class A common stock that are ultimately issued in connection with each PSU award will depend upon the outcome of the performance, market and qualified retirement conditions. For the portion of a PSU award with a "performance condition" under ASC 718, expense is recognized over the service period if it is probable that the performance condition will be achieved. Compensation expense is recognized based on the estimated grant date fair value on a straight-line basis over the requisite service period of the award. The initial requisite service period is generally five years for restricted stock awards and restricted stock units, and three years for PSUs. The fair value of each award is equal to the market price of the Company's common stock on the grant date, except for PSUs with a "market condition" performance metric under ASC 718, which have a grant-date fair value based on a Monte Carlo valuation model. Unvested restricted share-based awards are subject to forfeiture. Grantees are generally entitled to dividends or dividend equivalents on unvested and vested awards. 6,400,000 shares of Class A common stock were reserved and available for issuance under the Artisan Partners Asset Management, Inc. 2023 Omnibus Incentive Compensation Plan (the "Plan") as of September 30, 2023, which includes 3,945,902 shares registered in the nine months ended September 30, 2023. During the nine months ended September 30, 2023, Artisan granted 515,702 restricted stock awards and 1,684 restricted stock units. The following tables summarize the restricted share-based award activity for the nine months ended September 30, 2023: Weighted-Average Grant Date Fair Value Restricted Stock Awards and Restricted Stock Units Unvested at January 1, 2023 $ 39.09 5,396,343 Granted 34.99 517,386 Forfeited 43.40 (17,916) Vested 37.55 (542,487) Unvested at September 30, 2023 $ 38.84 5,353,326 Weighted-Average Grant Date Fair Value Performance Share Units Unvested at January 1, 2023 $ 58.13 231,170 Granted — — Forfeited — — Vested (1) 34.97 (15,000) Unvested at September 30, 2023 $ 54.89 216,170 (1) During the nine months ended September 30, 2023, the 60,000 PSUs granted in 2020 met the requisite three-year performance conditions, resulting in the potential vesting of 150% of the PSUs, or 90,000 shares of Class A common stock. 45,000 shares of Class A common stock were promptly delivered at that time, while the remaining 45,000 PSUs remain subject to the qualified retirement vesting condition. Based on the quarter-end status of the market and performance conditions, the 216,170 unvested PSUs would ultimately result in the issuance of 264,143 shares of Class A common stock if all other vesting conditions were met. The unrecognized compensation expense for the unvested restricted stock awards and restricted stock units as of September 30, 2023 was $68.1 million with a weighted average recognition period of 3.2 years remaining. The unrecognized compensation expense for the unvested PSUs as of September 30, 2023 was $4.1 million with a weighted average recognition period of 2.0 years remaining. During the nine months ended September 30, 2023, the Company withheld a total of 187,287 restricted shares and paid a total of $6.8 million as a result of net share settlements to satisfy employee tax withholding obligations. These net share settlements had the effect of shares repurchased and retired by the Company, as they reduced the number of shares outstanding. Long-term cash awards (franchise capital awards) During the nine months ended September 30, 2023, Artisan granted $39.0 million of franchise capital awards to investment team members in lieu of certain additional restricted share-based awards. The franchise capital awards are subject to the same long-term vesting and forfeiture provisions as restricted share-based awards. Prior to vesting, franchise capital awards are generally allocated to one or more of the investment strategies managed by the award recipient's investment team. During the vesting period, the value of the awards will increase or decrease based on the investment returns of the strategies to which the awards are allocated. Compensation expense, including the appreciation or depreciation related to investment returns, is recognized on a straight-line basis over the required service period, which is generally five years. Because the awards will generally be paid out in cash upon vesting, the fair value of unvested awards is recorded as a liability based on the percentage of the service requirement that has been completed. The Company hedges its economic exposure to the change in value of these awards due to market movements by investing the cash reserved for the awards in the underlying investments. The franchise capital award liability and the underlying investment holdings are marked to market each quarter. The change in value of the award liability is recognized as a compensation expense on a straight-line basis over the required service period. The change in value of the underlying investment holdings is recognized in non-operating income (expense) in the period of change. While there is a timing difference between the recognition of the compensation expense and the offsetting investment gain or loss, the compensation expense and investment income will net to zero at the end of the multi-year vesting period for all awards that ultimately vest. The change in value of the investments had the following impact on the unaudited consolidated statements of operations: For the Three Months Ended September 30, For the Nine Months Ended September 30, Statement of Operations Section Statement of Operations Line Item 2023 2022 2023 2022 Operating expenses (benefit) Compensation and benefits $ (1,230) $ (1,490) $ 1,216 $ (4,138) Non-operating income (expense) Other net investment gain (loss) (4,454) (3,987) 6,127 (19,192) The franchise capital award liability was $23.6 million and $14.5 million as of September 30, 2023 and December 31, 2022, respectively, and is included in accrued incentive compensation in the unaudited consolidated statements of financial condition. The unrecognized compensation expense for the unvested franchise capital awards as of September 30, 2023 was $80.6 million with a weighted average recognition period of 3.8 years remaining.

Income Taxes and Related Paymen

Income Taxes and Related Payments	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes and Related Payments	Note 11. Income Taxes and Related Payments APAM is subject to U.S. federal, state and local income taxation on APAM’s allocable portion of Holdings’ income as well as foreign income taxes payable by Holdings’ subsidiaries. APAM’s effective income tax rate was lower than the U.S. federal statutory rate of 21% primarily due to a rate benefit attributable to the fact that, for the nine months ended September 30, 2023, approximately 16% of Artisan Partners Holdings’ full year projected taxable earnings were attributable to other partners and not subject to corporate-level taxes. The effective tax rate was also lower than the statutory rate due to tax deductible dividends paid on unvested restricted share-based awards. APAM’s effective tax rate was 19.1% and 20.4% for the nine months ended September 30, 2023 and 2022, respectively. Components of the provision for income taxes consist of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Current: Federal $ 4,240 $ 5,934 $ 14,546 $ 19,606 State and local 950 1,380 4,128 5,051 Foreign 337 129 703 407 Total 5,527 7,443 19,377 25,064 Deferred: Federal 7,687 6,212 27,448 18,458 State and local 1,356 1,095 4,838 3,239 Total 9,043 7,307 32,286 21,697 Income tax expense (benefit) $ 14,570 $ 14,750 $ 51,663 $ 46,761 In connection with the IPO, APAM entered into two tax receivable agreements (“TRAs”). The first TRA generally provides for the payment by APAM to a private equity fund (the “Pre-H&F Corp Merger Shareholder”) or its assignees of 85% of the applicable cash savings, if any, of U.S. federal, state and local income taxes that APAM actually realizes (or is deemed to realize in certain circumstances) as a result of (i) the tax attributes of the preferred units APAM acquired in the merger of a wholly-owned subsidiary of the Pre-H&F Corp Merger Shareholder into APAM in March 2013 and (ii) tax benefits related to imputed interest. The second TRA generally provides for the payment by APAM to current or former limited partners of Holdings or their assignees of 85% of the applicable cash savings, if any, of U.S. federal, state and local income taxes that APAM actually realizes (or is deemed to realize in certain circumstances) as a result of (i) certain tax attributes of their partnership units sold to APAM or exchanged (for shares of Class A common stock, convertible preferred stock or other consideration) and that are created as a result of such sales or exchanges and payments under the TRAs and (ii) tax benefits related to imputed interest. Under both agreements, APAM generally will retain the benefit of the remaining 15% of the applicable tax savings. For purposes of the TRAs, cash savings of income taxes are calculated by comparing APAM’s actual income tax liability to the amount it would have been required to pay had it not been able to utilize any of the tax benefits subject to the TRAs, unless certain assumptions apply. The TRAs will continue in effect until all such tax benefits have been utilized or expired, unless APAM exercises its right to terminate the agreements or payments under the agreements are accelerated in the event that APAM materially breaches any of its material obligations under the agreements. The actual increase in tax basis, as well as the amount and timing of any payments under these agreements, will vary depending upon a number of factors, including the timing of sales or exchanges by the holders of limited partnership units, the price of the Class A common stock at the time of such sales or exchanges, whether such sales or exchanges are taxable, the amount and timing of the taxable income APAM generates in the future and the tax rate then applicable and the portion of APAM’s payments under the TRAs constituting imputed interest or depreciable basis or amortizable basis. Payments under the TRAs, if any, will be made pro rata among all TRA counterparties entitled to payments on an annual basis to the extent APAM has sufficient taxable income to utilize the increased depreciation and amortization charges and imputed interest deductions. Artisan expects to make one or more payments under the TRAs, to the extent they are required, prior to or within 125 days after APAM’s U.S. federal income tax return is filed for each fiscal year. Interest on the TRA payments will accrue from the due date (without extension) of such tax return until such payments are made. Amounts payable under the TRAs are estimates which may be impacted by factors, including but not limited to, expected tax rates, projected taxable income, and projected ownership levels and are subject to change. Changes in the estimates of amounts payable under tax receivable agreements are recorded as non-operating income (loss) in the unaudited consolidated statements of operations. The change in the Company’s deferred tax assets related to the tax benefits described above and the change in corresponding amounts payable under the TRAs for the nine months ended September 30, 2023 is summarized as follows: Deferred Tax Asset - Amortizable Basis Amounts Payable Under TRAs December 31, 2022 $ 426,468 $ 398,789 2023 Holdings Common Unit Exchanges 1,567 1,333 Amortization (32,885) — Payments under TRAs — (35,757) Change in estimate (2) (505) September 30, 2023 $ 395,148 $ 363,860 Net deferred tax assets comprise the following: As of September 30, 2023 As of December 31, 2022 Deferred tax assets: Amortizable basis (1) $ 395,148 $ 426,468 Other (2) 51,343 50,556 Total deferred tax assets 446,491 477,024 Less: valuation allowance (3) — — Net deferred tax assets $ 446,491 $ 477,024 (1) Represents the unamortized step-up of tax basis and other tax attributes from the merger and partnership unit sales and exchanges described above. These future tax benefits are subject to the TRA agreements. (2) Represents the net deferred tax assets associated with Artisan’s investment in Holdings, related primarily to incentive compensation plan deduction timing differences. These future tax benefits are not subject to the TRA agreements. (3) Artisan assessed whether the deferred tax assets would be realizable and determined based on its history of taxable income that the benefits would more likely than not be realized. Accordingly, no valuation allowance is required. Accounting standards establish a minimum threshold for recognizing, and a process for measuring, the benefits of income tax return positions in financial statements. The Company's gross liability for unrecognized tax benefits was $0.2 million and $0.1 million as of September 30, 2023 and December 31, 2022, respectively. The total amount of unrecognized tax benefits is not expected to significantly increase or decrease within the next twelve months. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of the income tax provision. Accrued interest on unrecognized tax benefits was less than $0.1 million as of September 30, 2023 and December 31, 2022. The gross unrecognized tax benefit is recorded within accounts payable, accrued expenses, and other in the Company’s unaudited condensed consolidated statements of financial condition. In the normal course of business, Artisan is subject to examination by federal and certain state, local and foreign tax regulators. As of September 30, 2023, U.S. federal income tax returns filed for the years 2020 through 2022 are open and therefore subject to examination. State, local, and foreign income tax returns filed are generally subject to examination from 2019 to 2022.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Note 12. Earnings Per Share Basic earnings per share is computed under the two-class method by dividing income available to Class A common stockholders by the weighted average number of Class A common shares outstanding during the period. Unvested restricted share-based awards are excluded from the number of Class A common shares outstanding for the basic earnings per share calculation because the shares have not yet been earned by employees. Income available to Class A common stockholders is computed by reducing net income attributable to APAM by earnings (both distributed and undistributed) allocated to participating securities, according to their respective rights to participate in those earnings. Except for certain performance share units, unvested share-based awards are participating securities because the awards include non-forfeitable dividend rights during the vesting period. Class B and Class C common shares do not share in profits of APAM and therefore are not reflected in the calculations. Diluted earnings per share is computed under the more dilutive of the treasury stock method or the two-class method. The weighted average number of Class A common shares outstanding during the period is increased by the assumed conversion of nonparticipating unvested share-based awards into Class A common stock using the treasury stock method. The computation of basic and diluted earnings per share for the three and nine months ended September 30, 2023 and 2022 were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Basic and Diluted Earnings Per Share 2023 2022 2023 2022 Numerator: Net income attributable to APAM $ 53,155 $ 44,235 $ 157,533 $ 153,947 Less: Allocation to participating securities 4,691 3,651 13,799 18,675 Net income available to common stockholders $ 48,464 $ 40,584 $ 143,734 $ 135,272 Denominator: Basic weighted average shares outstanding 63,520,402 62,623,434 63,419,587 62,329,756 Dilutive effect of nonparticipating share-based awards 42,642 9,226 30,217 23,519 Diluted weighted average shares outstanding 63,563,044 62,632,660 63,449,804 62,353,275 Earnings per share - Basic $ 0.76 $ 0.65 $ 2.27 $ 2.17 Earnings per share - Diluted $ 0.76 $ 0.65 $ 2.27 $ 2.17 Allocation to participating securities in the table above primarily represents dividends paid to holders of unvested restricted share-based awards, which reduces net income available to common stockholders. The Holdings limited partnership units are anti-dilutive primarily due to the impact of public company expenses. Unvested restricted share-based awards with non-forfeitable dividend rights during the vesting period are considered participating securities and are therefore anti-dilutive. The following table summarizes the weighted-average shares outstanding that are excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive: For the Three Months Ended September 30, For the Nine Months Ended September 30, Anti-Dilutive Weighted Average Shares Outstanding 2023 2022 2023 2022 Holdings limited partnership units 11,487,400 11,928,838 11,517,987 12,145,755 Unvested restricted share-based awards 5,586,181 5,668,508 5,571,819 5,587,842 Total 17,073,581 17,597,346 17,089,806 17,733,597

Indemnifications

Indemnifications	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Indemnifications	Note 13. Indemnifications In the normal course of business, APAM enters into agreements that include indemnities in favor of third parties. Holdings has also agreed to indemnify APAM as its general partner, Artisan Investment Corporation (“AIC”) as its former general partner, the directors and officers of APAM, the directors and officers of AIC as its former general partner, the members of its former Advisory Committee, and its partners, directors, officers, employees and agents. Holdings’ subsidiaries may also have similar agreements to indemnify their respective general partner(s), directors, officers, directors and officers of their general partner(s), partners, members, employees, and agents. The Company’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet occurred. APAM maintains insurance policies that may provide coverage against certain claims under these indemnities.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 14. Related Party Transactions Several of the current executive officers and directors of APAM or entities associated with those individuals, are limited partners of Holdings. As a result, certain transactions (such as TRA payments) between Artisan and the limited partners of Holdings are considered to be related party transactions with respect to these persons. Holdings also makes estimated state tax payments on behalf of certain limited partners, including related parties. These payments are then netted from subsequent distributions or payments to the limited partners. At September 30, 2023 and December 31, 2022, accounts receivable included $4.3 million and $6.5 million, respectively, of partnership tax reimbursements due from Holdings’ limited partners, including related parties. Affiliate transactions—Artisan Funds Artisan has an agreement to serve as the investment adviser to Artisan Funds, with which certain Artisan employees are affiliated. Under the terms of the agreement, which generally is reviewed and continued by the board of directors of Artisan Funds annually, a fee is paid to Artisan based on an annual percentage of the average daily net assets of each Artisan Fund ranging from 0.60% to 1.05%. Artisan has contractually agreed to reimburse for expenses incurred to the extent necessary to limit annualized ordinary operating expenses incurred by certain of the Artisan Funds to not more than a fixed percentage (ranging from 0.83% to 1.50%) of a fund’s average daily net assets. In addition, Artisan may voluntarily waive fees or reimburse any of the Artisan Funds for other expenses. The officers and directors of Artisan Funds who are affiliated with Artisan receive no compensation from the funds. Investment advisory fees for managing Artisan Funds and amounts reimbursed by Artisan for fees and expenses (including management fees) are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Artisan Funds 2023 2022 2023 2022 Investment advisory fees (Gross of expense reimbursements) $ 145,738 $ 136,216 $ 421,459 $ 446,417 Elimination of fees from consolidated investment products (1) (67) (73) (265) (137) Consolidated investment advisory fees (Gross of expense reimbursements) $ 145,671 $ 136,143 $ 421,194 $ 446,280 Expense reimbursements $ 517 $ 352 $ 1,400 $ 1,320 Elimination of expense reimbursements from consolidated investment products (1) (115) (128) (450) (300) Consolidated expense reimbursements $ 402 $ 224 $ 950 $ 1,020 (1) Investment advisory fees and expense reimbursements related to consolidated investment products are eliminated from revenue upon consolidation. Affiliate transactions—Artisan Global Funds Artisan has an agreement to serve as the investment manager to Artisan Global Funds, with which certain Artisan employees are affiliated. Under the terms of these agreements, a fee is paid based on an annual percentage of the average daily net assets of each fund ranging from 0.50% to 1.85%. Artisan reimburses each sub-fund of Artisan Global Funds to the extent that sub-fund’s annual expenses, not including Artisan’s fee, exceed certain levels, which range from 0.10% to 0.20%. In addition, Artisan may voluntarily waive fees or reimburse any of the Artisan Global Funds for other expenses. The directors of Artisan Global Funds who are also employees of Artisan receive no compensation from the funds. Investment advisory fees for managing Artisan Global Funds and amounts reimbursed to Artisan Global Funds by Artisan are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Artisan Global Funds 2023 2022 2023 2022 Investment advisory fees (Gross of expense reimbursements) $ 11,331 $ 10,471 $ 32,663 $ 33,301 Elimination of fees from consolidated investment products (1) (123) (58) (287) (94) Consolidated investment advisory fees (Gross of expense reimbursements) $ 11,208 $ 10,413 $ 32,376 $ 33,207 Expense reimbursements $ 127 $ 103 $ 308 $ 293 Elimination of expense reimbursements from consolidated investment products (1) (139) (113) (320) (278) Consolidated expense reimbursements $ (12) $ (10) $ (12) $ 15 (1) Investment advisory fees and expense reimbursements related to consolidated investment products are eliminated from revenue upon consolidation. Affiliate transactions—Artisan Private Funds Pursuant to written agreements, Artisan serves as the investment manager, and acts as the general partner, for certain Artisan Private Funds. Under the terms of these agreements, Artisan earns a management fee and, for certain funds, is entitled to receive either an allocation of profits or a performance-based fee. In addition, Artisan has agreed to reimburse certain funds to the extent that expenses, excluding Artisan’s management fee, performance fee and transaction related costs, exceed certain levels, which range from 0.10% to 1.00% per annum of the net assets of the fund. Artisan may also voluntarily waive fees or reimburse the funds for other expenses. The directors of Artisan Private Funds and the officers of the general partners of the Artisan Private Funds who are affiliated with Artisan receive no compensation from the funds. Artisan and certain related parties, including employees, officers and members of the Company’s Board, have invested in one or more of the Artisan Private Funds and, for certain of those investments, do not pay a management fee, performance fee or incentive allocation. Investment advisory fees for managing Artisan Private Funds and amounts reimbursed to Artisan Private Funds by Artisan are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Artisan Private Funds 2023 2022 2023 2022 Investment advisory fees (Gross of expense reimbursements) $ 2,781 $ 3,592 $ 9,170 $ 11,651 Elimination of fees from consolidated investment products (1) (311) (147) (702) (430) Consolidated investment advisory fees (Gross of expense reimbursements) $ 2,470 $ 3,445 $ 8,468 $ 11,221 Expense reimbursements $ 82 $ 46 $ 194 $ 178 Elimination of expense reimbursements from consolidated investment products (1) (35) (19) (82) (94) Consolidated expense reimbursements $ 47 $ 27 $ 112 $ 84 (1) Investment advisory fees and expense reimbursements related to consolidated investment products are eliminated from revenue upon consolidation.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events Distributions and dividends APAM, acting as the general partner of Artisan Partners Holdings, declared, effective October 31, 2023, a distribution by Artisan Partners Holdings of $18.8 million to holders of Artisan Partners Holdings partnership units, including APAM. The board of directors of APAM declared, effective October 31, 2023, a quarterly dividend of $0.65 per share of Class A common stock. The APAM dividend is payable on November 30, 2023, to stockholders of record as of November 16, 2023.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying financial statements are unaudited. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of such consolidated financial statements have been included. Such interim results are not necessarily indicative of full year results. The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial reporting and accordingly they do not include all of the information and footnotes required in the annual consolidated financial statements and accompanying footnotes. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. As a result, the interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in APAM’s latest annual report on Form 10-K. The accompanying financial statements were prepared in accordance with U.S. GAAP and related rules and regulations of the SEC. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates or assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from these estimates or assumptions.
Principles of consolidation	Principles of consolidation Artisan’s policy is to consolidate all subsidiaries or other entities in which it has a controlling financial interest. The consolidation guidance requires an analysis to determine if an entity should be evaluated for consolidation using the voting interest entity (“VOE”) model or the variable interest entity (“VIE”) model. Under the VOE model, controlling financial interest is generally defined as a majority ownership of voting interests. Under the VIE model, controlling financial interest is defined as (i) the power to direct activities that most significantly impact the economic performance of the entity and (ii) the right to receive potentially significant benefits or the obligation to absorb potentially significant losses. Artisan generally consolidates VIEs in which it meets the power criteria and holds an equity ownership interest of greater than 10%. The consolidated financial statements include the accounts of APAM and all subsidiaries or other entities in which APAM has a direct or indirect controlling financial interest. All material intercompany balances have been eliminated in consolidation. Artisan serves as the investment adviser to Artisan Funds, Artisan Global Funds and Artisan Private Funds. Artisan Funds and Artisan Global Funds are corporate entities, the business and affairs of which are managed by their respective boards of directors. The shareholders of the funds retain voting rights, including rights to elect and reelect members of their respective boards of directors. Each series of Artisan Funds is a VOE and is separately evaluated for consolidation under the VOE model. The shareholders of Artisan Global Funds lack simple majority liquidation rights, and as a result, each sub-fund of Artisan Global Funds is evaluated for consolidation under the VIE model. Artisan Private Funds are also evaluated for consolidation under the VIE model because third-party equity holders of the funds generally lack the ability to divest Artisan of its control of the funds. From time to time, the Company makes investments in Artisan Funds, Artisan Global Funds, and Artisan Private Funds. If the investment results in a controlling financial interest, APAM consolidates the fund, and the underlying activity of the entire fund is included in Artisan’s unaudited consolidated financial statements. As of September 30, 2023, Artisan had a controlling financial interest in one series of Artisan Funds, five sub-funds of Artisan Global Funds, and two Artisan Private Funds and, as a result, these funds are included in Artisan’s unaudited consolidated financial statements. Because these consolidated investment products meet the definition of investment companies under U.S. GAAP, Artisan has retained the specialized industry accounting principles for investment companies in the consolidated financial statements. See Note 6, “Variable Interest Entities and Consolidated Investment Products” for additional details. Reclassification In conjunction with annual reporting on Form 10-K for the year ended December 31, 2022, the Company changed the presentation of its Consolidated Statements of Operations to recategorize expenditures for computers and mobile devices from “General and administrative” to “Communication and technology.” Amounts for the comparative period in fiscal 2022 presented herein have been reclassified to conform to the current presentation. The reclassification had no impact on previously reported operating income, net income, or financial position. Management believes the revised presentation is more useful to readers of its financial statements.
Recent accounting pronouncements	Recent accounting pronouncements None.

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	The disclosures below include details of Artisan’s investments, excluding money market funds and consolidated investment products. Investments held by consolidated investment products are described in Note 6, “Variable Interest Entities and Consolidated Investment Products.” As of September 30, 2023 As of December 31, 2022 Investments in equity securities $ 128,822 $ 76,156 Investments in equity securities accounted for under the equity method 10,808 9,259 Total investment securities $ 139,630 $ 85,415
Unrealized Gain (Loss) on Investments	Unrealized gain (loss) related to investment securities held at the end of the periods indicated below were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Unrealized gain (loss) on investment securities held at the end of the period $ (3,901) $ (6,675) $ 6,458 $ (24,145)
Gain (Loss) on Investments	Other net investment gain (loss) is presented within the non-operating income (expense) section of the Consolidated Statements of Operations. The components of other net investment gain (loss) are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Net investment gain (loss) on nonconsolidated seed investments $ 214 $ (1,649) $ 1,424 $ (4,585) Net investment gain (loss) on franchise capital investments (4,454) (3,987) 6,127 (19,192) Interest income on cash and cash equivalents and other 2,088 73 3,778 48 Other net investment gain (loss) $ (2,152) $ (5,563) $ 11,329 $ (23,729)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair value hierarchy of assets and liabilities	The following provides the hierarchy of inputs used to derive fair value of Artisan’s assets and liabilities that are financial instruments as of September 30, 2023 and December 31, 2022: Assets and Liabilities at Fair Value Total NAV Practical Expedient (No Fair Value Level) Level 1 Level 2 Level 3 September 30, 2023 Assets Money market funds 1 $ 167,310 $ — $ 167,310 $ — $ — Equity securities 139,630 10,306 129,324 — — December 31, 2022 Assets Money market funds 1 $ 3,297 $ — $ 3,297 $ — $ — Equity securities 85,415 8,835 76,580 — — 1 Money market funds are included within the cash and cash equivalents line of the Unaudited Condensed Consolidated Statements of Financial Condition.

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of borrowings	Artisan’s borrowings consist of the following as of September 30, 2023 and December 31, 2022: Maturity (1) As of September 30, 2023 As of December 31, 2022 Interest Rate Per Annum Revolving credit agreement August 2027 $ — $ — NA Senior notes Series D August 2025 60,000 60,000 4.29 % Series E August 2027 50,000 50,000 4.53 % Series F August 2032 90,000 90,000 3.10 % Total gross borrowings $ 200,000 $ 200,000 Debt issuance costs $ (774) $ (950) Total borrowings $ 199,226 $ 199,050 (1) The Company is not required to make principal payments on any of the outstanding obligations prior to contractual maturity.

Variable Interest Entities an_2

Variable Interest Entities and Consolidated Investment Products (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Measurements, Recurring and Non-recurring [Abstract]
Variable Interest Entities and Consolidated Investment Products	The following tables present the fair value hierarchy levels of assets and liabilities held by CIPs measured at fair value as of September 30, 2023 and December 31, 2022: Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 September 30, 2023 Assets Money market funds $ 26,682 $ 26,682 $ — $ — Equity securities - long position 35,007 32,632 2,074 301 Fixed income instruments - long position 293,274 — 288,729 4,545 Derivative assets 843 — 843 — Short term investments 7,305 — 7,305 — Liabilities Fixed income instruments - short position $ 10,410 $ 364 $ 10,046 $ — Derivative liabilities 2,904 — 2,904 — Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 December 31, 2022 Assets Money market funds $ 25,140 $ 25,140 $ — $ — Equity securities - long position 32,388 30,179 2,209 — Fixed income instruments - long position 216,638 — 212,368 4,270 Derivative assets 951 74 877 — Short term investments 5,766 — 5,766 — Liabilities Equity securities - short position $ 256 $ 256 $ — $ — Fixed income instruments - short position 17,273 — 17,273 — Derivative liabilities 3,222 2,462 760 — CIP balances included in the Company’s unaudited condensed consolidated statements of financial condition were as follows: As of September 30, 2023 As of December 31, 2022 Net CIP assets included in the table above $ 349,797 $ 260,132 Net CIP assets/(liabilities) not included in the table above (20,847) (18,105) Total Net CIP assets 328,950 242,027 Less: redeemable noncontrolling interests 219,726 135,280 Artisan’s direct equity investment in CIPs $ 109,224 $ 106,747

Noncontrolling Interests - Ho_2

Noncontrolling Interests - Holdings (Tables)	9 Months Ended
	Sep. 30, 2023
Noncontrolling Interest [Abstract]
Schedule of Equity ownership Interests in Holdings	For the nine months ended September 30, 2023, APAM’s equity ownership interest in Holdings increased as a result of the following transactions: Holdings GP Units Limited Partnership Units Total APAM Ownership % Balance at December 31, 2022 67,982,025 11,624,031 79,606,056 85 % Holdings Common Unit Exchanges (1) 142,550 (142,550) — — % Issuance of APAM Restricted Shares 515,702 — 515,702 1 % Delivery of Shares Underlying RSUs and PSUs (1) 46,146 — 46,146 — % Restricted Share Award Net Share Settlement (1) (187,287) — (187,287) — % Forfeitures from Employee Terminations (1) (17,916) — (17,916) — % Balance at September 30, 2023 68,481,220 11,481,481 79,962,701 86 % (1) The impact of the transaction on APAM’s ownership percentage was less than 1%.
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net	The reallocation of equity had the following impact on the unaudited condensed consolidated statements of financial condition: Statements of Financial Condition For the Nine Months Ended September 30, 2023 2022 Additional paid-in capital $ (696) $ (262) Noncontrolling interests - Artisan Partners Holdings 773 291 Accumulated other comprehensive income (loss) (77) (29) Net impact to financial condition $ — $ —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Authorized and outstanding equity	APAM had the following authorized and outstanding equity as of September 30, 2023 and December 31, 2022, respectively: Outstanding Authorized As of September 30, 2023 As of December 31, 2022 Voting Rights (1) Economic Rights Common shares Class A, par value $0.01 per share 500,000,000 68,481,220 67,982,025 1 vote per share Proportionate Class B, par value $0.01 per share 200,000,000 2,456,534 2,583,884 1 vote per share None Class C, par value $0.01 per share 400,000,000 9,024,947 9,040,147 1 vote per share None (1) The Company’s employees to whom Artisan has granted equity have entered into a stockholders agreement with respect to all shares of APAM common stock they have acquired from the Company and any shares they may acquire from the Company in the future, pursuant to which they granted an irrevocable voting proxy to a Stockholders Committee. As of September 30, 2023, Artisan’s employees held 5,242,987 restricted shares of Class A common stock and all 2,456,534 outstanding shares of Class B common stock, all of which were subject to the agreement.
Dividends Declared	APAM declared and paid the following dividends per share during the three and nine months ended September 30, 2023 and 2022: Type of Dividend Class of Stock For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Quarterly Class A Common $ 0.61 $ 0.60 $ 1.66 $ 2.39 Special Annual Class A Common $ — $ — $ 0.35 $ 0.72
Issuance (Cancellation) of Shares Disclosure	The following table summarizes APAM’s stock transactions for the nine months ended September 30, 2023: Total Stock Outstanding Class A Common Stock (1) Class B Common Stock Class C Common Stock Balance at December 31, 2022 79,606,056 67,982,025 2,583,884 9,040,147 Holdings Common Unit Exchanges — 142,550 (127,350) (15,200) Restricted Share Award Grants 515,702 515,702 — — Restricted Share Award Net Share Settlement (187,287) (187,287) — — Delivery of Shares Underlying RSUs and PSUs 46,146 46,146 — — Employee/Partner Terminations (17,916) (17,916) — — Balance at September 30, 2023 79,962,701 68,481,220 2,456,534 9,024,947 (1) There were 415,112 and 367,392 restricted stock units outstanding at September 30, 2023 and December 31, 2022, respectively. In addition, there were 216,170 and 231,170 performance share units outstanding at September 30, 2023 and December 31, 2022, respectively. Based on the quarter-end status of the market and performance conditions, the 216,170 unvested performance share units would ultimately result in the issuance of 264,143 shares of Class A common stock if all other vesting conditions were met. Restricted stock units and performance share units are not reflected in the table because they are not considered outstanding or issued stock.
Schedule of Distributions made to General and Limited Partners	The distributions are recorded in the financial statements on the declaration date, or on the payment date in lieu of a declaration date. Holdings’ partnership distributions for the three and nine months ended September 30, 2023 and 2022 were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Holdings Partnership Distributions to Limited Partners $ 12,883 $ 12,026 $ 30,341 $ 43,721 Holdings Partnership Distributions to APAM 72,419 64,441 169,102 227,165 Total Holdings Partnership Distributions $ 85,302 $ 76,467 $ 199,443 $ 270,886

Revenue From Contracts with C_2

Revenue From Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents a disaggregation of investment advisory revenue by type and vehicle for the three and nine months ended September 30, 2023 and 2022: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Management fees Artisan Funds $ 145,269 $ 135,919 $ 420,244 $ 445,260 Artisan Global Funds 11,220 10,423 32,388 33,192 Separate accounts and other (1) 92,202 87,849 273,348 288,449 Performance fees Separate accounts and other (1) 31 121 154 397 Total revenues (2) $ 248,722 $ 234,312 $ 726,134 $ 767,298 (1) Separate accounts and other revenue consists of management fees and performance fees earned from vehicles other than Artisan Funds or Artisan Global Funds, and therefore includes revenue earned from traditional separate accounts, Artisan-branded collective investment trusts and Artisan Private Funds. (2) All management fees and performance fees from consolidated investment products were eliminated upon consolidation and therefore are omitted from this table. See Note 14, “Related Party Transactions.”
Contract with Customer, Asset and Liability	The following table presents the balances of receivables related to contracts with customers: Customer As of September 30, 2023 As of December 31, 2022 Artisan Funds $ 6,096 $ 5,597 Artisan Global Funds 4,578 4,453 Separate accounts and other 77,976 74,936 Total receivables from contracts with customers $ 88,650 $ 84,986 Non-customer receivables 7,412 13,648 Accounts receivable $ 96,062 $ 98,634

Compensation and Benefits (Tabl

Compensation and Benefits (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Components of Compensation Expense	Total compensation and benefits consist of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Salaries, incentive compensation and benefits (1) $ 118,271 $ 109,563 $ 350,147 $ 352,221 Long-term cash incentive compensation expense 4,625 2,453 17,969 7,065 Restricted share-based award compensation expense 7,752 10,017 24,477 30,073 Long-term incentive compensation expense 12,377 12,470 42,446 37,138 Total compensation and benefits $ 130,648 $ 122,033 $ 392,593 $ 389,359 (1) Excluding long-term incentive compensation expense
Restricted Share-Based Award Activity	The following tables summarize the restricted share-based award activity for the nine months ended September 30, 2023: Weighted-Average Grant Date Fair Value Restricted Stock Awards and Restricted Stock Units Unvested at January 1, 2023 $ 39.09 5,396,343 Granted 34.99 517,386 Forfeited 43.40 (17,916) Vested 37.55 (542,487) Unvested at September 30, 2023 $ 38.84 5,353,326
Nonvested Restricted Stock Shares Activity	Weighted-Average Grant Date Fair Value Performance Share Units Unvested at January 1, 2023 $ 58.13 231,170 Granted — — Forfeited — — Vested (1) 34.97 (15,000) Unvested at September 30, 2023 $ 54.89 216,170 (1) During the nine months ended September 30, 2023, the 60,000 PSUs granted in 2020 met the requisite three-year performance conditions, resulting in the potential vesting of 150% of the PSUs, or 90,000 shares of Class A common stock. 45,000 shares of Class A common stock were promptly delivered at that time, while the remaining 45,000 PSUs remain subject to the qualified retirement vesting condition.
Change in Value of Investments	The change in value of the investments had the following impact on the unaudited consolidated statements of operations: For the Three Months Ended September 30, For the Nine Months Ended September 30, Statement of Operations Section Statement of Operations Line Item 2023 2022 2023 2022 Operating expenses (benefit) Compensation and benefits $ (1,230) $ (1,490) $ 1,216 $ (4,138) Non-operating income (expense) Other net investment gain (loss) (4,454) (3,987) 6,127 (19,192)

Income Taxes and Related Paym_2

Income Taxes and Related Payments (Tables)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Components of the provision for income taxes	Components of the provision for income taxes consist of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Current: Federal $ 4,240 $ 5,934 $ 14,546 $ 19,606 State and local 950 1,380 4,128 5,051 Foreign 337 129 703 407 Total 5,527 7,443 19,377 25,064 Deferred: Federal 7,687 6,212 27,448 18,458 State and local 1,356 1,095 4,838 3,239 Total 9,043 7,307 32,286 21,697 Income tax expense (benefit) $ 14,570 $ 14,750 $ 51,663 $ 46,761
Schedule of Other Assets and Other Liabilities	The change in the Company’s deferred tax assets related to the tax benefits described above and the change in corresponding amounts payable under the TRAs for the nine months ended September 30, 2023 is summarized as follows: Deferred Tax Asset - Amortizable Basis Amounts Payable Under TRAs December 31, 2022 $ 426,468 $ 398,789 2023 Holdings Common Unit Exchanges 1,567 1,333 Amortization (32,885) — Payments under TRAs — (35,757) Change in estimate (2) (505) September 30, 2023 $ 395,148 $ 363,860
Components of deferred tax assets	Net deferred tax assets comprise the following: As of September 30, 2023 As of December 31, 2022 Deferred tax assets: Amortizable basis (1) $ 395,148 $ 426,468 Other (2) 51,343 50,556 Total deferred tax assets 446,491 477,024 Less: valuation allowance (3) — — Net deferred tax assets $ 446,491 $ 477,024 (1) Represents the unamortized step-up of tax basis and other tax attributes from the merger and partnership unit sales and exchanges described above. These future tax benefits are subject to the TRA agreements. (2) Represents the net deferred tax assets associated with Artisan’s investment in Holdings, related primarily to incentive compensation plan deduction timing differences. These future tax benefits are not subject to the TRA agreements. (3) Artisan assessed whether the deferred tax assets would be realizable and determined based on its history of taxable income that the benefits would more likely than not be realized. Accordingly, no valuation allowance is required.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method	The computation of basic and diluted earnings per share for the three and nine months ended September 30, 2023 and 2022 were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Basic and Diluted Earnings Per Share 2023 2022 2023 2022 Numerator: Net income attributable to APAM $ 53,155 $ 44,235 $ 157,533 $ 153,947 Less: Allocation to participating securities 4,691 3,651 13,799 18,675 Net income available to common stockholders $ 48,464 $ 40,584 $ 143,734 $ 135,272 Denominator: Basic weighted average shares outstanding 63,520,402 62,623,434 63,419,587 62,329,756 Dilutive effect of nonparticipating share-based awards 42,642 9,226 30,217 23,519 Diluted weighted average shares outstanding 63,563,044 62,632,660 63,449,804 62,353,275 Earnings per share - Basic $ 0.76 $ 0.65 $ 2.27 $ 2.17 Earnings per share - Diluted $ 0.76 $ 0.65 $ 2.27 $ 2.17
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes the weighted-average shares outstanding that are excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive: For the Three Months Ended September 30, For the Nine Months Ended September 30, Anti-Dilutive Weighted Average Shares Outstanding 2023 2022 2023 2022 Holdings limited partnership units 11,487,400 11,928,838 11,517,987 12,145,755 Unvested restricted share-based awards 5,586,181 5,668,508 5,571,819 5,587,842 Total 17,073,581 17,597,346 17,089,806 17,733,597

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2023
Artisan Funds
Related Party Transaction [Line Items]
Schedule of related party transactions	Investment advisory fees for managing Artisan Funds and amounts reimbursed by Artisan for fees and expenses (including management fees) are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Artisan Funds 2023 2022 2023 2022 Investment advisory fees (Gross of expense reimbursements) $ 145,738 $ 136,216 $ 421,459 $ 446,417 Elimination of fees from consolidated investment products (1) (67) (73) (265) (137) Consolidated investment advisory fees (Gross of expense reimbursements) $ 145,671 $ 136,143 $ 421,194 $ 446,280 Expense reimbursements $ 517 $ 352 $ 1,400 $ 1,320 Elimination of expense reimbursements from consolidated investment products (1) (115) (128) (450) (300) Consolidated expense reimbursements $ 402 $ 224 $ 950 $ 1,020 (1) Investment advisory fees and expense reimbursements related to consolidated investment products are eliminated from revenue upon consolidation.
Artisan Global Funds
Related Party Transaction [Line Items]
Schedule of related party transactions	Investment advisory fees for managing Artisan Global Funds and amounts reimbursed to Artisan Global Funds by Artisan are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Artisan Global Funds 2023 2022 2023 2022 Investment advisory fees (Gross of expense reimbursements) $ 11,331 $ 10,471 $ 32,663 $ 33,301 Elimination of fees from consolidated investment products (1) (123) (58) (287) (94) Consolidated investment advisory fees (Gross of expense reimbursements) $ 11,208 $ 10,413 $ 32,376 $ 33,207 Expense reimbursements $ 127 $ 103 $ 308 $ 293 Elimination of expense reimbursements from consolidated investment products (1) (139) (113) (320) (278) Consolidated expense reimbursements $ (12) $ (10) $ (12) $ 15 (1) Investment advisory fees and expense reimbursements related to consolidated investment products are eliminated from revenue upon consolidation.
Artisan Private Funds
Related Party Transaction [Line Items]
Schedule of related party transactions	Investment advisory fees for managing Artisan Private Funds and amounts reimbursed to Artisan Private Funds by Artisan are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Artisan Private Funds 2023 2022 2023 2022 Investment advisory fees (Gross of expense reimbursements) $ 2,781 $ 3,592 $ 9,170 $ 11,651 Elimination of fees from consolidated investment products (1) (311) (147) (702) (430) Consolidated investment advisory fees (Gross of expense reimbursements) $ 2,470 $ 3,445 $ 8,468 $ 11,221 Expense reimbursements $ 82 $ 46 $ 194 $ 178 Elimination of expense reimbursements from consolidated investment products (1) (35) (19) (82) (94) Consolidated expense reimbursements $ 47 $ 27 $ 112 $ 84 (1) Investment advisory fees and expense reimbursements related to consolidated investment products are eliminated from revenue upon consolidation.

Nature of Business and Organi_2

Nature of Business and Organization (Details)	Sep. 30, 2023
Artisan Partners Holdings LP
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Economic interest in subsidiary (as a percent)	86%
Artisan Partners Limited Partnership
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Economic interest in subsidiary (as a percent)	100%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	9 Months Ended
	Sep. 30, 2023 numberOfProducts
Significant Accounting Policies [Line Items]
Variable interest entity, ownership percentage	10%
Artisan Funds
Significant Accounting Policies [Line Items]
Number of consolidated VIEs	1
Artisan Global Funds
Significant Accounting Policies [Line Items]
Number of consolidated VIEs	5
Artisan Private Funds
Significant Accounting Policies [Line Items]
Number of consolidated VIEs	2

Investment Securities - Investm

Investment Securities - Investments, Debt and Equity Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
Investments in equity securities	$ 128,822	$ 76,156
Investments in equity securities accounted for under the equity method	10,808	9,259
Consolidated Entity, Excluding VIE
Marketable Securities [Line Items]
Total investment securities	$ 139,630	$ 85,415

Investment Securities - Additio

Investment Securities - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Long-Term Cash Awards
Marketable Securities [Line Items]
Investments	$ 96.6	$ 63.3

Investment Securities - Unreali

Investment Securities - Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Unrealized gain (loss) on investment securities held at the end of the period	$ (3,901)	$ (6,675)	$ 6,458	$ (24,145)
Consolidated Entity Excluding Variable Interest Entities (VIE)
Marketable Securities [Line Items]
Other net investment gain (loss)	(2,152)	(5,563)	11,329	(23,729)
Seed Investments
Marketable Securities [Line Items]
Other net investment gain (loss)	214	(1,649)	1,424	(4,585)
Long-Term Cash Awards
Marketable Securities [Line Items]
Other net investment gain (loss)		(3,987)		(19,192)
Other
Marketable Securities [Line Items]
Other net investment gain (loss)	$ 2,088	$ 73	$ 3,778	$ 48

Fair Value Measurements - Fair

Fair Value Measurements - Fair value hierarchy of assets and liabilities (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 167,310	$ 3,297
Equity securities	139,630	85,415
NAV Practical Expedient (No Fair Value Level)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Equity securities	10,306	8,835
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	167,310	3,297
Equity securities	129,324	76,580
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Equity securities	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Equity securities	$ 0	$ 0

Borrowings - Components of Borr

Borrowings - Components of Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt	$ 200,000	$ 200,000
Debt issuance costs	(774)	(950)
Total borrowings	199,226	199,050
Senior notes | Series D
Debt Instrument [Line Items]
Long-term debt	$ 60,000
Interest Rate Per Annum	4.29%
Senior notes | Series E
Debt Instrument [Line Items]
Long-term debt	$ 50,000
Interest Rate Per Annum	4.53%
Senior notes | Series F
Debt Instrument [Line Items]
Long-term debt	$ 90,000
Interest Rate Per Annum	3.10%
Revolving credit agreement
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 0

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Interest expense	$ 1,900,000	$ 2,300,000	$ 5,800,000	$ 7,400,000
Revolving credit agreement
Debt Instrument [Line Items]
Debt and capital lease obligations	0		0
Line of credit facility, maximum borrowing capacity	100,000,000		$ 100,000,000
Line of credit facility, unused capacity, commitment fee, percentage			0.15%
Level 2
Debt Instrument [Line Items]
Borrowings fair value	$ 176,400,000		$ 176,400,000

Variable Interest Entities an_3

Variable Interest Entities and Consolidated Investment Products - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) numberOfProducts	Sep. 30, 2022 USD ($)
Variable Interest Entity [Line Items]
Artisan’s direct equity investment in CIPs	$ 109,200
Deconsolidation, gain (loss), amount	0
Increase in investment securities due to deconsolidation of CIPs	19,612	$ 9,970
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Artisan’s direct equity investment in CIPs	$ 10,800
Artisan Funds
Variable Interest Entity [Line Items]
Number of consolidated VIEs | numberOfProducts	1
Artisan Global Funds
Variable Interest Entity [Line Items]
Number of consolidated VIEs | numberOfProducts	5
Artisan Private Funds
Variable Interest Entity [Line Items]
Number of consolidated VIEs | numberOfProducts	2

Variable Interest Entities an_4

Variable Interest Entities and Consolidated Investment Products - Assets, Liabilities and Equity of the Fund (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Liabilities
Redeemable noncontrolling interests	$ 219,726	$ 135,280
Artisan’s direct equity investment in CIPs	109,200
Variable Interest Entity, Primary Beneficiary
ASSETS
Cash and cash equivalents	32,221	28,416	$ 18,870
Investments	336,429	255,743
Liabilities
Investment liabilities, at fair value	13,314	20,751
Net CIP assets included in the table above	349,797	260,132
Net CIP assets/(liabilities) not included in the table above	(20,847)	(18,105)
Total Net CIP assets	328,950	242,027
Artisan’s direct equity investment in CIPs	109,224	106,747
Variable Interest Entity, Primary Beneficiary | Money market funds | Fair Value, Measurements, Recurring
ASSETS
Cash and cash equivalents	26,682	25,140
Variable Interest Entity, Primary Beneficiary | Money market funds | Fair Value, Measurements, Recurring | Level 1
ASSETS
Cash and cash equivalents	26,682	25,140
Variable Interest Entity, Primary Beneficiary | Money market funds | Fair Value, Measurements, Recurring | Level 2
ASSETS
Cash and cash equivalents	0	0
Variable Interest Entity, Primary Beneficiary | Money market funds | Fair Value, Measurements, Recurring | Level 3
ASSETS
Cash and cash equivalents	0	0
Variable Interest Entity, Primary Beneficiary | Equity securities - long position | Fair Value, Measurements, Recurring
ASSETS
Investments	35,007	32,388
Liabilities
Investment liabilities, at fair value		256
Variable Interest Entity, Primary Beneficiary | Equity securities - long position | Fair Value, Measurements, Recurring | Level 1
ASSETS
Investments	32,632	30,179
Liabilities
Investment liabilities, at fair value		256
Variable Interest Entity, Primary Beneficiary | Equity securities - long position | Fair Value, Measurements, Recurring | Level 2
ASSETS
Investments	2,074	2,209
Liabilities
Investment liabilities, at fair value		0
Variable Interest Entity, Primary Beneficiary | Equity securities - long position | Fair Value, Measurements, Recurring | Level 3
ASSETS
Investments	301	0
Liabilities
Investment liabilities, at fair value		0
Variable Interest Entity, Primary Beneficiary | Fixed income instruments - long position | Fair Value, Measurements, Recurring
ASSETS
Investments	293,274	216,638
Liabilities
Investment liabilities, at fair value	10,410	17,273
Variable Interest Entity, Primary Beneficiary | Fixed income instruments - long position | Fair Value, Measurements, Recurring | Level 1
ASSETS
Investments	0	0
Liabilities
Investment liabilities, at fair value	364	0
Variable Interest Entity, Primary Beneficiary | Fixed income instruments - long position | Fair Value, Measurements, Recurring | Level 2
ASSETS
Investments	288,729	212,368
Liabilities
Investment liabilities, at fair value	10,046	17,273
Variable Interest Entity, Primary Beneficiary | Fixed income instruments - long position | Fair Value, Measurements, Recurring | Level 3
ASSETS
Investments	4,545	4,270
Liabilities
Investment liabilities, at fair value	0	0
Variable Interest Entity, Primary Beneficiary | Derivative assets | Fair Value, Measurements, Recurring
ASSETS
Investments	843	951
Liabilities
Investment liabilities, at fair value	2,904	3,222
Variable Interest Entity, Primary Beneficiary | Derivative assets | Fair Value, Measurements, Recurring | Level 1
ASSETS
Investments	0	74
Liabilities
Investment liabilities, at fair value	0	2,462
Variable Interest Entity, Primary Beneficiary | Derivative assets | Fair Value, Measurements, Recurring | Level 2
ASSETS
Investments	843	877
Liabilities
Investment liabilities, at fair value	2,904	760
Variable Interest Entity, Primary Beneficiary | Derivative assets | Fair Value, Measurements, Recurring | Level 3
ASSETS
Investments	0	0
Liabilities
Investment liabilities, at fair value	0	0
Variable Interest Entity, Primary Beneficiary | Short term investments | Fair Value, Measurements, Recurring
ASSETS
Investments	7,305	5,766
Variable Interest Entity, Primary Beneficiary | Short term investments | Fair Value, Measurements, Recurring | Level 1
ASSETS
Investments	0	0
Variable Interest Entity, Primary Beneficiary | Short term investments | Fair Value, Measurements, Recurring | Level 2
ASSETS
Investments	7,305	5,766
Variable Interest Entity, Primary Beneficiary | Short term investments | Fair Value, Measurements, Recurring | Level 3
ASSETS
Investments	$ 0	$ 0

Noncontrolling Interests - Ho_3

Noncontrolling Interests - Holdings - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Deferred Tax Assets | Noncontrolling Interests - Artisan Partners Holdings
Class of Stock [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings LP	$ 0.2	$ 0.5
Artisan Partners Holdings LP
Class of Stock [Line Items]
Economic interest in subsidiary (as a percent)	86%

Noncontrolling Interests - Ho_4

Noncontrolling Interests - Holdings - Share Issuances & Cancellations (Details)	9 Months Ended
	Sep. 30, 2023 shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	(46,146)
Shares paid for tax withholding for share based compensation (in shares)	187,287
Forfeitures of Holdings GP Units from Employee Terminations (in shares)	(17,916)
Artisan Partners Holdings LP
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ending balance	86%
Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	79,606,056
Holdings common unit exchanges (in shares)	0
Holdings of common unit exchanges, APAM ownership percentage	0%
Change in APAM economic ownership Interest in Artisan Partners Holdings LP (as a percent)	0%
Shares paid for tax withholding for share based compensation (in shares)	187,287
Forfeitures of Holdings GP Units from Employee Terminations (in shares)	(17,916)
Ending balance (in shares)	79,962,701
Total | Artisan Partners Holdings LP
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	85%
Ending balance	86%
Restricted Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	(515,702)
Restricted Stock | Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	(515,702)
Change in APAM economic ownership Interest in Artisan Partners Holdings LP (as a percent)	1%
Restricted Stock Units RSUs
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	(46,146)
Restricted Stock Units RSUs | Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Holdings of common unit exchanges, APAM ownership percentage	0%
Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in APAM economic ownership Interest in Artisan Partners Holdings LP (as a percent)	0%

Noncontrolling Interests - Ho_5

Noncontrolling Interests - Holdings - Impact on Statement of Financial Condition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings LP	$ 0	$ 0	$ 0	$ 0
Net impact to financial condition			0	0
Additional Paid-in Capital
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings LP	(532)	889	(696)	(262)
Noncontrolling Interests - Artisan Partners Holdings
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings LP	592	(865)	773	291
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings LP	$ (60)	$ (24)	$ (77)	$ (29)

Stockholders' Equity - Authoriz

Stockholders' Equity - Authorized and Outstanding Equity (Details)	Sep. 30, 2023 vote $ / shares shares	Dec. 31, 2022 $ / shares shares
Class of Stock [Line Items]
Common stock, shares, outstanding (in shares)	79,962,701	79,606,056
Restricted Stock
Class of Stock [Line Items]
Unvested - Number of awards (in shares)	5,353,326	5,396,343
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value per share (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares, outstanding (in shares)	68,481,220	67,982,025
Common stock votes per share | vote	1
Class B Common Stock
Class of Stock [Line Items]
Common stock, par value per share (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares, outstanding (in shares)	2,456,534	2,583,884
Common stock votes per share | vote	1
Class C Common Stock
Class of Stock [Line Items]
Common stock, par value per share (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares, outstanding (in shares)	9,024,947	9,040,147
Common stock votes per share | vote	1
Holdings GP Units | Restricted Stock
Class of Stock [Line Items]
Unvested - Number of awards (in shares)	5,242,987

Stockholders' Equity - Dividend

Stockholders' Equity - Dividends Declared (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Dividends Declared [Line Items]
Dividends declared per Class A common share (in dollars per share)	$ 0.61	$ 0.60	$ 2.01	$ 3.11
Quarterly
Dividends Declared [Line Items]
Dividends declared per Class A common share (in dollars per share)	0.61	0.60	1.66	2.39
Special Annual
Dividends Declared [Line Items]
Dividends declared per Class A common share (in dollars per share)	$ 0	$ 0	$ 0.35	$ 0.72

Stockholders' Equity - Share Ac

Stockholders' Equity - Share Activity by Class of Stock (Details) - shares	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	79,606,056
Shares issued (in shares)	(46,146)
Restricted share award net share settlement (in shares)	(187,287)
Holdings Common Unit Exchanges (in shares)	(17,916)
Ending balance (in shares)	79,962,701
Class A Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	67,982,025
Holdings common unit exchanges (in shares)	(142,550)
Shares issued (in shares)	(46,146)
Restricted share award net share settlement (in shares)	(187,287)
Holdings Common Unit Exchanges (in shares)	(17,916)
Ending balance (in shares)	68,481,220
Class B Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	2,583,884
Holdings common unit exchanges (in shares)	(127,350)
Shares issued (in shares)	0
Restricted share award net share settlement (in shares)	0
Holdings Common Unit Exchanges (in shares)	0
Ending balance (in shares)	2,456,534
Class C Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	9,040,147
Holdings common unit exchanges (in shares)	(15,200)
Shares issued (in shares)	0
Restricted share award net share settlement (in shares)	0
Holdings Common Unit Exchanges (in shares)	0
Ending balance (in shares)	9,024,947
Restricted Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	(515,702)
Unvested - Number of awards (in shares)	5,353,326	5,396,343
Restricted Stock | Class A Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	(515,702)
Restricted Stock | Class B Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	0
Restricted Stock | Class C Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	0
Restricted Stock Units RSUs
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	(46,146)
Restricted stock units outstanding (in shares)	415,112	367,392
Restricted Stock Units RSUs | Class A Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	(46,146)
Performance Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock units outstanding (in shares)		231,170
Unvested - Number of awards (in shares)	216,170	231,170
Performance Shares | Potential Performance Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unvested - Number of awards (in shares)	264,143
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Holdings common unit exchanges (in shares)	0

Stockholders' Equity - Distribu

Stockholders' Equity - Distributions (Details) - Artisan Partners Holdings LP - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Partnership Distributions
Holdings Partnership Distributions to Limited Partners	$ 12,883	$ 12,026	$ 30,341	$ 43,721
Holdings Partnership Distributions to APAM	72,419	64,441	169,102	227,165
Total Holdings Partnership Distributions	$ 85,302	$ 76,467	$ 199,443	$ 270,886

Revenue From Contracts with C_3

Revenue From Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 248,722	$ 234,312	$ 726,134	$ 767,298
Total receivables from contracts with customers	88,650		88,650		$ 84,986
Non-customer receivables	7,412		7,412		13,648
Accounts receivable	96,062		96,062		98,634
Contract with customer, liability	0		0		0
Artisan Funds
Disaggregation of Revenue [Line Items]
Total receivables from contracts with customers	6,096		6,096		5,597
Artisan Global Funds
Disaggregation of Revenue [Line Items]
Total receivables from contracts with customers	4,578		4,578		4,453
Separate accounts and other
Disaggregation of Revenue [Line Items]
Total receivables from contracts with customers	77,976		77,976		$ 74,936
Management fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	248,691	234,191	725,980	766,901
Management fees | Artisan Funds
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	145,269	135,919	420,244	445,260
Management fees | Artisan Global Funds
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	11,220	10,423	32,388	33,192
Management fees | Separate accounts and other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	92,202	87,849	273,348	288,449
Performance fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	31	121	154	397
Performance fees | Separate accounts and other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 31	$ 121	$ 154	$ 397

Compensation and Benefits - Com

Compensation and Benefits - Components of expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Salaries, incentive compensation and benefits	$ 118,271	$ 109,563	$ 350,147	$ 352,221
Restricted share-based award compensation expense	7,752	10,017	24,477	30,073
Long-term incentive compensation expense	12,377	12,470	42,446	37,138
Compensation and benefits	130,648	122,033	392,593	389,359
Deferred Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long-term cash incentive compensation expense	$ 4,625	$ 2,453	$ 17,969	$ 7,065

Compensation and Benefits - Add

Compensation and Benefits - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2020	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	6,400,000		6,400,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized	3,945,902
Potential Class A Shares associated with 2020 PSU grant performance criteria	90,000		90,000
PSU outstanding subject only to qualified retirement (in shares)	45,000		45,000
Shares paid for tax withholding for share based compensation (in shares)			187,287
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation	$ 0	$ 334	$ 6,758	$ 7,754
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares delivered			45,000
Shares paid for tax withholding for share based compensation (in shares)			187,287
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period (in years)			5 years
Granted - Number of awards (in shares)			517,386
Unvested - Number of awards (in shares)	5,353,326		5,353,326			5,396,343
Unrecognized compensation expense	$ 68,100		$ 68,100
Recognition period (in years)			3 years 2 months 12 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period (in years)			3 years
Award vesting rights			50%
Granted - Number of awards (in shares)			0		60,000
Unvested - Number of awards (in shares)	216,170		216,170			231,170
Unrecognized compensation expense	$ 4,100		$ 4,100
Recognition period (in years)			2 years
Performance Shares | Potential Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested - Number of awards (in shares)	264,143		264,143
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted - Number of awards (in shares)			515,702
Restricted Stock Units RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted - Number of awards (in shares)			1,684
Long-Term Cash Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Franchise capital award liability	$ 23,600		$ 23,600			$ 14,500
Long-Term Cash Awards | Deferred Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period (in years)			5 years
Awards granted, amount	39,000		$ 39,000
Deferred Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 80,600		$ 80,600
Recognition period (in years)			3 years 9 months 18 days

Compensation and Benefits - Res

Compensation and Benefits - Restricted Share Activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2020
Restricted Stock
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 39.09
Granted (in dollars per share)	34.99
Forfeited (in dollars per share)	43.40
Vested (in dollars per share)	37.55
Ending balance (in dollars per share)	$ 38.84
Restricted Stock Awards and Restricted Stock Units
Beginning balance (in shares)	5,396,343
Granted (in shares)	517,386
Forfeited (in shares)	(17,916)
Vested (in shares)	(542,487)
Ending balance (in shares)	5,353,326
Performance Shares
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 58.13
Granted (in dollars per share)	0
Forfeited (in dollars per share)	0
Vested (in dollars per share)	34.97
Ending balance (in dollars per share)	$ 54.89
Restricted Stock Awards and Restricted Stock Units
Beginning balance (in shares)	231,170
Granted (in shares)	0	60,000
Forfeited (in shares)	0
Vested (in shares)	(15,000)
Ending balance (in shares)	216,170

Compensation and Benefits - Cha

Compensation and Benefits - Change in Value of Investments (Details) - Long-Term Cash Awards - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Compensation and benefits
Schedule of Investments [Line Items]
Compensation and benefits	$ (1,230)	$ (1,490)	$ 1,216	$ (4,138)
Other net investment gain (loss)
Schedule of Investments [Line Items]
Other net investment gain (loss)	$ (4,454)	$ (3,987)	$ 6,127	$ (19,192)

Income Taxes and Related Paym_3

Income Taxes and Related Payments - Additional information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) TRA	Sep. 30, 2022	Dec. 31, 2022 USD ($)
Income Tax Disclosure [Abstract]
Statutory tax rate	21%
Approximate percentage of earnings not subject to income taxes	16%
Effective tax rate	19.10%	20.40%
Number of tax receivable agreements (TRAs) | TRA	2
TRA percent of savings to be paid to shareholders	85%
Tax receivable agreement percentage to be retained by entity	15%
Tax receivable agreement payment period	125 days
Unrecognized tax benefits	$ 200		$ 100
Unrecognized tax benefits, income tax penalties accrued	$ 100		$ 100

Income Taxes and Related Paym_4

Income Taxes and Related Payments - Components of provision for income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Current:
Federal	$ 4,240	$ 5,934	$ 14,546	$ 19,606
State and local	950	1,380	4,128	5,051
Foreign	337	129	703	407
Total	5,527	7,443	19,377	25,064
Deferred:
Federal	7,687	6,212	27,448	18,458
State and local	1,356	1,095	4,838	3,239
Total	9,043	7,307	32,286	21,697
Income tax expense (benefit)	$ 14,570	$ 14,750	$ 51,663	$ 46,761

Income Taxes and Related Paym_5

Income Taxes and Related Payments - Changes in Deferred Tax Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Deferred Tax Asset - Amortizable Basis
Deferred tax assets, beginning			$ 426,468
2023 Holdings Common Unit Exchanges			1,567
Amortization			(32,885)
Change in estimate			(2)
Deferred tax assets, ending	$ 395,148		395,148
Amounts Payable Under TRAs
Amounts payable under tax receivable, beginning agreements			398,789
Establishment of amounts payable under tax receivable agreements			828	$ 5,929
Payments under the tax receivable agreements			(35,757)	(33,109)
Change in estimate	(505)	$ (431)	(505)	$ (913)
Amounts payable under tax receivable, ending agreements	$ 363,860		363,860
Capital Unit
Amounts Payable Under TRAs
Establishment of amounts payable under tax receivable agreements			$ 1,333

Income Taxes and Related Paym_6

Income Taxes and Related Payments - Components of deferred tax assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Deferred tax assets:
Amortizable basis	$ 395,148	$ 426,468
Other	51,343	50,556
Total deferred tax assets	446,491	477,024
Less: valuation allowance	0	0
Deferred tax assets	$ 446,491	$ 477,024

Earnings Per Share - Computatio

Earnings Per Share - Computation of basic and diluted net income per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income attributable to APAM	$ 53,155	$ 44,235	$ 157,533	$ 153,947
Less: Allocation to participating securities	4,691	3,651	13,799	18,675
Net income available to common stockholders	$ 48,464	$ 40,584	$ 143,734	$ 135,272
Basic weighted average shares outstanding (in shares)	63,520,402	62,623,434	63,419,587	62,329,756
Dilutive effect of nonparticipating share-based awards (in shares)	42,642	9,226	30,217	23,519
Diluted weighted average shares outstanding (in shares)	63,563,044	62,632,660	63,449,804	62,353,275
Earnings per share - Basic (in dollars per share)	$ 0.76	$ 0.65	$ 2.27	$ 2.17
Earnings per share - Diluted (in dollars per share)	$ 0.76	$ 0.65	$ 2.27	$ 2.17

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive securities excluded from the computation of net income per share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-Dilutive Weighted Average Shares Outstanding (in shares)	17,073,581	17,597,346	17,089,806	17,733,597
Holdings limited partnership units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-Dilutive Weighted Average Shares Outstanding (in shares)	11,487,400	11,928,838	11,517,987	12,145,755
Unvested restricted share-based awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-Dilutive Weighted Average Shares Outstanding (in shares)	5,586,181	5,668,508	5,571,819	5,587,842

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Non-customer receivables	$ 7,412		$ 7,412		$ 13,648
Revenue from contract with customer	$ 248,722	$ 234,312	$ 726,134	$ 767,298
Artisan Funds | Minimum
Related Party Transaction [Line Items]
Management fee percentage of average daily net assets			0.60%
Annualized operating expenses maximum percentage of average daily net assets			0.83%
Artisan Funds | Maximum
Related Party Transaction [Line Items]
Management fee percentage of average daily net assets			1.05%
Annualized operating expenses maximum percentage of average daily net assets			1.50%
Artisan Global Funds | Minimum
Related Party Transaction [Line Items]
Management fee percentage of average daily net assets			0.50%
Management fee threshold for reimbursement, percentage average daily net assets			0.10%
Artisan Global Funds | Maximum
Related Party Transaction [Line Items]
Management fee percentage of average daily net assets			1.85%
Management fee threshold for reimbursement, percentage average daily net assets			0.20%
Artisan Private Funds | Minimum
Related Party Transaction [Line Items]
Management fee threshold for reimbursement, percentage average daily net assets			0.10%
Artisan Private Funds | Maximum
Related Party Transaction [Line Items]
Management fee threshold for reimbursement, percentage average daily net assets			1%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Non-customer receivables	$ 7,412		$ 7,412		$ 13,648
Revenue from contract with customer	248,722	$ 234,312	726,134	$ 767,298
Artisan Funds | Management Fees Before Reimbursement Revenue
Related Party Transaction [Line Items]
Revenue from contract with customer	145,671	136,143	421,194	446,280
Artisan Funds | Expense Reimbursement
Related Party Transaction [Line Items]
Revenue from contract with customer	402	224	950	1,020
Artisan Global Funds | Management Fees Before Reimbursement Revenue
Related Party Transaction [Line Items]
Revenue from contract with customer	11,208	10,413	32,376	33,207
Artisan Global Funds | Expense Reimbursement
Related Party Transaction [Line Items]
Revenue from contract with customer	(12)	(10)	(12)	15
Artisan Private Funds | Management Fees Before Reimbursement Revenue
Related Party Transaction [Line Items]
Revenue from contract with customer	2,470	3,445	8,468	11,221
Artisan Private Funds | Expense Reimbursement
Related Party Transaction [Line Items]
Revenue from contract with customer	47	27	112	84
Related Party
Related Party Transaction [Line Items]
Non-customer receivables	4,300		4,300		$ 6,500
Consolidation, Eliminations | Artisan Funds | Management Fees Before Reimbursement Revenue
Related Party Transaction [Line Items]
Revenue from contract with customer	(67)	(73)	(265)	(137)
Consolidation, Eliminations | Artisan Funds | Expense Reimbursement
Related Party Transaction [Line Items]
Revenue from contract with customer	(115)	(128)	(450)	(300)
Consolidation, Eliminations | Artisan Global Funds | Management Fees Before Reimbursement Revenue
Related Party Transaction [Line Items]
Revenue from contract with customer	(123)	(58)	(287)	(94)
Consolidation, Eliminations | Artisan Global Funds | Expense Reimbursement
Related Party Transaction [Line Items]
Revenue from contract with customer	(139)	(113)	(320)	(278)
Consolidation, Eliminations | Artisan Private Funds | Management Fees Before Reimbursement Revenue
Related Party Transaction [Line Items]
Revenue from contract with customer	(311)	(147)	(702)	(430)
Consolidation, Eliminations | Artisan Private Funds | Expense Reimbursement
Related Party Transaction [Line Items]
Revenue from contract with customer	(35)	(19)	(82)	(94)
Subsidiaries | Artisan Funds | Management Fees Before Reimbursement Revenue
Related Party Transaction [Line Items]
Revenue from contract with customer	145,738	136,216	421,459	446,417
Subsidiaries | Artisan Funds | Expense Reimbursement
Related Party Transaction [Line Items]
Fee waiver / expense reimbursement	517	352	1,400	1,320
Subsidiaries | Artisan Global Funds | Management Fees Before Reimbursement Revenue
Related Party Transaction [Line Items]
Revenue from contract with customer	11,331	10,471	32,663	33,301
Subsidiaries | Artisan Global Funds | Expense Reimbursement
Related Party Transaction [Line Items]
Revenue from contract with customer	127	103	308	293
Subsidiaries | Artisan Private Funds | Management Fees Before Reimbursement Revenue
Related Party Transaction [Line Items]
Revenue from contract with customer	2,781	3,592	9,170	11,651
Subsidiaries | Artisan Private Funds | Expense Reimbursement
Related Party Transaction [Line Items]
Revenue from contract with customer	$ 82	$ 46	$ 194	$ 178

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event $ / shares in Units, $ in Millions	Oct. 31, 2023 USD ($) $ / shares
Subsequent Event [Line Items]
Distribution made to partners, Cash distributions declared | $	$ 18.8
Quarterly | Class A Common Stock
Subsequent Event [Line Items]
Dividends declared (in dollars per share) | $ / shares	$ 0.65

Uncategorized Items - apam-2023

Label	Element	Value
Common Class A [Member]
Capital Units, Outstanding	us-gaap_CapitalUnitsOutstanding	68,481,220
Capital Units, Outstanding	us-gaap_CapitalUnitsOutstanding	67,982,025
Limited Partnership Units [Member]
Capital Units, Outstanding	us-gaap_CapitalUnitsOutstanding	11,624,031
Capital Units, Outstanding	us-gaap_CapitalUnitsOutstanding	11,481,481
Stock Repurchased and Retired During Period, Shares	us-gaap_StockRepurchasedAndRetiredDuringPeriodShares	0
Stock Issued During Period, Shares, Conversion of Units	us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits	142,550
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	us-gaap_SharesPaidForTaxWithholdingForShareBasedCompensation	0
Restricted Stock [Member] | Limited Partnership Units [Member]
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	0
Restricted Stock Units (RSUs) [Member] | Limited Partnership Units [Member]
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	0