ARTISAN PARTNERS FUNDS, INC
DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES
Schedules of Investments
Investment Footnotes
* | Non-income producing security |
# | Percentages for the various classifications relate to total net assets |
^ | Amount rounds to less than $1 or 0.1% |
‡ | One contract is equal to 100 shares. |
Company names are as reported by a data service provider and in some cases are translations; a company’s legal name may be different.
Investment abbreviations
| | |
ADR | | American Depositary Receipt |
BA | | Bankers Acceptance Rate |
BUBOR | | Budapest Interbank Offered Rate |
CDI | | Certificate of Interbank Deposit |
CITI | | Citibank, N.A. |
CLICP | | Chile Indice de Camara Promedio Interbank Overnight Index |
ETF | | Exchange Traded Fund |
EURIBOR | | Euro Interbank Offered Rate |
GDR | | Global Depositary Receipt |
GS | | Goldman Sachs International |
ICE | | Intercontinental Exchange |
JPM | | JPMorganChase Bank, N.A. |
KLIBOR | | Kuala Lumpur Interbank Offered Rate |
LIBOR | | London Interbank Offered Rate |
MIBOR | | Mumbai Interbank Offered Rate |
PIK | | Payment-In-Kind |
Preference | | A special type of equity investment that shares in the earnings of the company and may have a dividend preference. Preference shares may also have liquidation preference. |
PRIBOR | | Prague Interbank Offered Rate |
REIT | | Real Estate Investment Trust |
SCB | | Standard Chartered Bank |
SOFR | | Secured Overnight Financing Rate |
SPDR | | Standard & Poor’s Depository Receipts |
TIIE | | Mexican Interbank Equilibrium Interest Rate |
THOR | | Thai Overnight Repurchase Rate |
TONAR | | Tokyo Overnight Average Rate |
UBS AG | | Union Bank of Switzerland |
WIBOR | | Warsaw Interbank Offer Rate |
Currency abbreviations
| | |
AED | | United Arab Emirates dirham |
AUD | | Australian dollar |
BRL | | Brazilian real |
CAD | | Canadian dollar |
CHF | | Swiss franc |
CLP | | Chilean peso |
CNY | | Chinese yuan |
CZK | | Czech koruna |
DKK | | Danish krone |
DOP | | Dominican peso |
EUR | | Euro |
GBP | | British pound |
GEL | | Georgian lari |
HKD | | Hong Kong dollar |
HUF | | Hungarian forint |
IDR | | Indonesian rupiah |
ILS | | Israel new shekel |
INR | | Indian rupee |
ISK | | Iceland krona |
JPY | | Japanese yen |
KES | | Kenyan shilling |
| | |
KRW | | Korean won |
KZT | | Kazakhstan tenge |
MXN | | Mexican peso |
MYR | | Malaysia ringgit |
NGN | | Nigerian naira |
NOK | | Norwegian krone |
PEN | | Peruvian nuevo sol |
PLN | | Polish zloty |
RON | | Romanian leu |
RSD | | Serbian dinar |
RUB | | Russian ruble |
SEK | | Swedish krona |
SGD | | Singapore dollar |
THB | | Thailand baht |
TWD | | New Taiwan dollar |
UGX | | Ugandan shilling |
USD | | U.S. dollar |
UYU | | Uruguayan peso |
UZS | | Uzbekistani som |
VND | | Vietnamese dong |
ZAR | | South African rand |
Artisan Developing World Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
| | |
COMMON STOCKS - 97.8% | | | | | | | | |
| | |
Brazil - 8.6% | | | | | | | | |
MercadoLibre, Inc. * | | | 173 | | | $ | 205,321 | |
NU Holdings Ltd., Class A * | | | 8,042 | | | | 63,449 | |
| | | | | | | | |
| | | | | | | 268,770 | |
| | | | | | | | |
| | |
China - 20.0% | | | | | | | | |
Bilibili, Inc., ADR * | | | 3,204 | | | | 48,373 | |
JD Health International, Inc. *(1)(2) | | | 9,847 | | | | 62,423 | |
Kanzhun Ltd., ADR * | | | 2,344 | | | | 35,281 | |
KE Holdings, Inc., ADR * | | | 6,143 | | | | 91,220 | |
Kweichow Moutai Co. Ltd., Class A(1) | | | 380 | | | | 88,642 | |
Meituan, Class B *(1)(2) | | | 7,180 | | | | 112,858 | |
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A(1) | | | 1,401 | | | | 57,813 | |
Tencent Holdings Ltd.(1) | | | 1,047 | | | | 44,563 | |
Wuxi Biologics Cayman, Inc. *(1)(2) | | | 12,848 | | | | 61,906 | |
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A(1) | | | 572 | | | | 22,659 | |
| | | | | | | | |
| | | | | | | 625,738 | |
| | | | | | | | |
| | |
France - 5.5% | | | | | | | | |
Hermes International(1) | | | 17 | | | | 36,254 | |
LVMH Moet Hennessy Louis Vuitton SE(1) | | | 107 | | | | 100,745 | |
Sartorius Stedim Biotech(1) | | | 144 | | | | 35,966 | |
| | | | | | | | |
| | | | | | | 172,965 | |
| | | | | | | | |
| | |
India - 5.3% | | | | | | | | |
Apollo Hospitals Enterprise Ltd.(1) | | | 1,081 | | | | 67,257 | |
HDFC Bank Ltd., ADR | | | 1,425 | | | | 99,353 | |
| | | | | | | | |
| | | | | | | 166,610 | |
| | | | | | | | |
| | |
Netherlands - 7.8% | | | | | | | | |
Adyen NV *(1)(2) | | | 83 | | | | 143,778 | |
ASML Holding NV, ADR | | | 137 | | | | 99,149 | |
| | | | | | | | |
| | | | | | | 242,927 | |
| | | | | | | | |
| | |
Singapore - 6.9% | | | | | | | | |
Grab Holdings Ltd., Class A * | | | 10,105 | | | | 34,660 | |
Sea Ltd., ADR * | | | 3,114 | | | | 180,758 | |
| | | | | | | | |
| | | | | | | 215,418 | |
| | | | | | | | |
| | |
United States - 43.7% | | | | | | | | |
Airbnb, Inc., Class A * | | | 1,595 | | | | 204,455 | |
Align Technology, Inc. * | | | 192 | | | | 68,023 | |
Coca-Cola Co. (The) | | | 591 | | | | 35,582 | |
Crowdstrike Holdings, Inc., Class A * | | | 986 | | | | 144,774 | |
Datadog, Inc., Class A * | | | 368 | | | | 36,197 | |
Estee Lauder Cos., Inc. (The), Class A | | | 505 | | | | 99,223 | |
Mastercard, Inc., Class A | | | 93 | | | | 36,425 | |
Netflix, Inc. * | | | 214 | | | | 94,268 | |
NVIDIA Corp. | | | 471 | | | | 199,340 | |
Snap, Inc., Class A * | | | 6,977 | | | | 82,610 | |
Snowflake, Inc., Class A * | | | 387 | | | | 68,176 | |
Unity Software, Inc. * | | | 1,259 | | | | 54,685 | |
Veeva Systems, Inc., Class A * | | | 445 | | | | 87,975 | |
Visa, Inc., Class A | | | 659 | | | | 156,483 | |
| | | | | | | | |
| | | | | | | 1,368,216 | |
| | | | | | | | |
| | |
Total common stocks (Cost $2,064,735) | | | | | | | 3,060,644 | |
| | | | | | | | |
| | |
SHORT-TERM INVESTMENT - 0.5% | | | | | | | | |
| | |
INVESTMENT COMPANY - 0.5% | | | | | | | | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $16,019) | | | 16,019 | | | | 16,019 | |
| | | | | | | | |
| | |
Total investments - 98.3% (Cost $2,080,754) | | | | | | | 3,076,663 | |
| | |
Other assets less liabilities - 1.7% | | | | | | | 54,178 | |
| | | | | | | | |
| | |
Total net assets - 100.0%# | | | | | | $ | 3,130,841 | |
| | | | | | | | |
Artisan Developing World Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $834,864, or 26.7% of total net assets. See notes (B) and (C) in the accompanying notes. |
(2) | Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $380,965 or 12.2% of net assets. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 485,853 | | | | 15.8 | % |
Consumer Discretionary | | | 659,633 | | | | 21.4 | |
Consumer Staples | | | 285,870 | | | | 9.3 | |
Financials | | | 499,488 | | | | 16.2 | |
Health Care | | | 401,599 | | | | 13.1 | |
Industrials | | | 34,660 | | | | 1.1 | |
Information Technology | | | 602,321 | | | | 19.6 | |
Real Estate | | | 91,220 | | | | 3.0 | |
Short-Term Investment | | | 16,019 | | | | 0.5 | |
| | | | | | | | |
Total investments | | $ | 3,076,663 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
CNY | | $ | 169,114 | | | | 5.5 | % |
EUR | | | 316,743 | | | | 10.3 | |
HKD | | | 281,750 | | | | 9.1 | |
INR | | | 67,257 | | | | 2.2 | |
USD | | | 2,241,799 | | | | 72.9 | |
| | | | | | | | |
Total investments | | $ | 3,076,663 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Emerging Markets Debt Opportunities Fund
Consolidated Schedule of Investments
June 30, 2023 (Unaudited)
Principal amount, shares and values in thousands and reported in USD unless otherwise stated
| | | | | | | | |
| | Principal Amount | | | Value | |
SOVEREIGN GOVERNMENT BONDS - 54.1% | | | | | | | | |
| | |
Albania - 1.5% | | | | | | | | |
Republic of Albania 5.90%, 6/9/2028(1) | | EUR | 470 | | | $ | 501 | |
| | | | | | | | |
| | |
Angola - 2.7% | | | | | | | | |
Republic of Angola | | | | | | | | |
(ICE LIBOR USD 6 Month + 7.50%), 12.77%, 7/3/2023(1)(2) | | $ | 229 | | | | 229 | |
6.93%, 2/19/2027(1) | | | 166 | | | | 153 | |
8.25%, 5/9/2028(1) | | | 250 | | | | 221 | |
9.13%, 11/26/2049(1) | | | 350 | | | | 270 | |
| | | | | | | | |
| | | | | | | 873 | |
| | | | | | | | |
| | |
Bahamas - 2.2% | | | | | | | | |
Commonwealth of the Bahamas 5.75%, 1/16/2024(1) | | | 740 | | | | 720 | |
| | | | | | | | |
| | |
Benin - 2.3% | | | | | | | | |
Benin Government Bond 4.88%, 1/19/2032(1) | | EUR | 930 | | | | 767 | |
| | | | | | | | |
| | |
Cameroon - 4.0% | | | | | | | | |
Republic of Cameroon 9.50%, 11/19/2025(1) | | | 1,380 | | | | 1,317 | |
| | | | | | | | |
| | |
Egypt - 1.6% | | | | | | | | |
Arab Republic of Egypt 7.50%, 2/16/2061(1) | | | 1,030 | | | | 514 | |
| | | | | | | | |
| | |
Indonesia - 5.1% | | | | | | | | |
Republic of Indonesia | | | | | | | | |
6.38%, 4/15/2032 | | IDR | 4,100,000 | | | | 274 | |
8.25%, 5/15/2036 | | IDR | 9,854,000 | | | | 756 | |
7.13%, 6/15/2042 | | IDR | 9,400,000 | | | | 655 | |
| | | | | | | | |
| | | | | | | 1,685 | |
| | | | | | | | |
| | |
Iraq - 3.7% | | | | | | | | |
Republic of Iraq 5.80%, 1/15/2028(1) | | | 1,309 | | | | 1,202 | |
| | | | | | | | |
| | |
Ivory Coast - 1.2% | | | | | | | | |
Republic of Cote d’Ivoire | | | | | | | | |
5.25%, 3/22/2030(1) | | EUR | 445 | | | | 409 | |
| | | | | | | | |
| | |
Kenya - 2.1% | | | | | | | | |
Republic of Kenya | | | | | | | | |
6.88%, 6/24/2024(1) | | | 530 | | | | 503 | |
7.00%, 5/22/2027(1) | | | 200 | | | | 180 | |
| | | | | | | | |
| | | | | | | 683 | |
| | | | | | | | |
| | |
Macedonia - 3.9% | | | | | | | | |
Republic of North Macedonia | | | | | | | | |
5.63%, 7/26/2023(1) | | EUR | 748 | | | | 816 | |
6.96%, 3/13/2027(1) | | EUR | 340 | | | | 378 | |
1.63%, 3/10/2028(1) | | EUR | 100 | | | | 88 | |
| | | | | | | | |
| | | | | | | 1,282 | |
| | | | | | | | |
| | |
Nigeria - 2.7% | | | | | | | | |
Federal Republic of Nigeria | | | | | | | | |
7.63%, 11/21/2025(3) | | | 281 | | | | 268 | |
8.75%, 1/21/2031(1) | | | 390 | | | | 349 | |
9.25%, 1/21/2049(1) | | | 232 | | | | 192 | |
8.25%, 9/28/2051(1) | | | 125 | | | | 93 | |
| | | | | | | | |
| | | | | | | 902 | |
| | | | | | | | |
| | |
Papua New Guinea - 1.6% | | | | | | | | |
Papua New Guinea Government International Bond 8.38%, 10/4/2028(1) | | | 575 | | | | 534 | |
| | | | | | | | |
| | |
Peru - 4.8% | | | | | | | | |
Bonos de la Tesoreria 6.15%, 8/12/2032 | | PEN | 6,050 | | | | 1,592 | |
| | | | | | | | |
| | |
Romania - 3.7% | | | | | | | | |
Romania Government Bond | | | | | | | | |
8.75%, 10/30/2028 | | RON | 1,060 | | | | 253 | |
3.62%, 5/26/2030(1) | | EUR | 360 | | | | 344 | |
2.12%, 7/16/2031(1) | | EUR | 150 | | | | 124 | |
Series 10Y, 8.25%, 9/29/2032 | | RON | 1,310 | | | | 315 | |
4.63%, 4/3/2049(1) | | EUR | 200 | | | | 168 | |
| | | | | | | | |
| | | | | | | 1,204 | |
| | | | | | | | |
| | |
Rwanda - 0.5% | | | | | | | | |
Republic of Rwanda 5.50%, 8/9/2031(1) | | | 225 | | | | 169 | |
| | | | | | | | |
| | |
Senegal - 0.6% | | | | | | | | |
Republic of Senegal 6.25%, 7/30/2024(1) | | | 200 | | | | 196 | |
| | | | | | | | |
| | |
Serbia - 6.5% | | | | | | | | |
Republic of Serbia | | | | | | | | |
1.50%, 6/26/2029(1) | | EUR | 195 | | | | 164 | |
4.50%, 8/20/2032 | | RSD | 108,000 | | | | 883 | |
1.65%, 3/3/2033(1) | | EUR | 300 | | | | 218 | |
2.05%, 9/23/2036(1) | | EUR | 1,310 | | | | 875 | |
| | | | | | | | |
| | | | | | | 2,140 | |
| | | | | | | | |
| | |
Tajikistan - 0.8% | | | | | | | | |
Republic of Tajikistan 7.13%, 9/14/2027(1) | | | 340 | | | | 279 | |
| | | | | | | | |
| | |
Uzbekistan - 2.6% | | | | | | | | |
Republic of Uzbekistan 14.50%, 11/25/2023(1) | | UZS | 10,000,000 | | | | 862 | |
| | | | | | | | |
| | |
Total sovereign government bonds (Cost $17,364) | | | | | | | 17,831 | |
| | | | | | | | |
| | |
CORPORATE BONDS - 15.9% | | | | | | | | |
| | |
Brazil - 0.8% | | | | | | | | |
MC Brazil Downstream Trading SARL 7.25%, 6/30/2031(1) | | | 290 | | | | 195 | |
Unigel Luxembourg SA 8.75%, 10/1/2026(1) | | | 253 | | | | 83 | |
| | | | | | | | |
| | | | | | | 278 | |
| | | | | | | | |
| | |
Colombia - 2.6% | | | | | | | | |
Aris Mining Corp. 6.88%, 8/9/2026(1) | | | 477 | | | | 349 | |
EnfraGen Energia Sur SA 5.38%, 12/30/2030(1) | | | 400 | | | | 260 | |
Artisan Emerging Markets Debt Opportunities Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Principal amount, shares and values in thousands and reported in USD unless otherwise stated
| | | | | | | | |
Gran Tierra Energy International Holdings Ltd. 6.25%, 2/15/2025(1) | | | 275 | | | | 236 | |
| | | | | | | | |
| | | | | | | 845 | |
| | | | | | | | |
| | |
Czech Republic - 1.0% | | | | | | | | |
Energo-Pro A/S | | | | | | | | |
4.50%, 5/4/2024(1) | | EUR | 100 | | | | 107 | |
8.50%, 2/4/2027(1) | | | 250 | | | | 237 | |
| | | | | | | | |
| | | | | | | 344 | |
| | | | | | | | |
| | |
Dominican Republic - 4.8% | | | | | | | | |
Banco Central de la Republica Dominicana 13.00%, 12/5/2025(1) | | DOP | 81,900 | | | | 1,595 | |
| | | | | | | | |
| | |
Georgia - 0.7% | | | | | | | | |
Georgia Capital JSC 6.13%, 3/9/2024(1) | | | 225 | | | | 221 | |
| | | | | | | | |
| | |
Mexico - 0.8% | | | | | | | | |
Petroleos Mexicanos 6.95%, 1/28/2060 | | | 430 | | | | 268 | |
| | | | | | | | |
| | |
Nigeria - 1.2% | | | | | | | | |
SEPLAT Energy plc 7.75%, 4/1/2026(1) | | | 485 | | | | 404 | |
| | | | | | | | |
| | |
Peru - 2.6% | | | | | | | | |
Auna SAA 6.50%, 11/20/2025(1) | | | 500 | | | | 413 | |
Inkia Energy Ltd. 5.88%, 11/9/2027(1) | | | 457 | | | | 434 | |
| | | | | | | | |
| | | | | | | 847 | |
| | | | | | | | |
| | |
Romania - 0.7% | | | | | | | | |
Banca Transilvania SA (EURIBOR ICE Swap Rate 1 Year + 5.58%), 8.88%, 4/27/2027(1)(2) | | EUR | 200 | | | | 224 | |
| | | | | | | | |
| | |
Tanzania - 0.7% | | | | | | | | |
HTA Group Ltd. 7.00%, 12/18/2025(3) | | | 240 | | | | 227 | |
| | | | | | | | |
Total corporate bonds (Cost $5,321) | | | | | | | 5,253 | |
| | | | | | | | |
| | |
SHORT-TERM INVESTMENTS - 25.6% | | | | | | | | |
| | |
SOVEREIGN GOVERNMENT TREASURY BILLS - 3.8% | | | | | | | | |
Banco Central del Uruguay | | | | | | | | |
11.04%, 2/2/2024(4) | | UYU | 3,050 | | | | 76 | |
10.66%, 3/1/2024(4) | | UYU | 34,281 | | | | 853 | |
11.03%, 5/3/2024(4) | | UYU | 12,300 | | | | 300 | |
| | | | | | | | |
Total sovereign government treasury bills (Cost $1,186) | | | | | | | 1,229 | |
| | | | | | | | |
| | |
U.S. TREASURY OBLIGATIONS - 19.2% | | | | | | | | |
U.S. Treasury Bills | | | | | | | | |
1.96%, 7/5/2023(4) | | | 830 | | | | 830 | |
4.19%, 7/18/2023(4) | | | 1,600 | | | | 1,597 | |
4.61%, 8/1/2023(4) | | | 3,900 | | | | 3,884 | |
| | | | | | | | |
Total U.S. treasury obligations (Cost $6,309) | | | | | | | 6,311 | |
| | | | | | | | |
| | |
REPURCHASE AGREEMENT - 0.8% | | | | | | | | |
JPMorgan Chase Bank, N.A., Dated 5/3/23, with an interest rate of 4.50% payable by the Portfolio, collateralized by Par 275 Petroleos Mexicanos, 6.88% due 10/16/2025 and a market value of $265(5) (Cost $279) | | | 279 | | | | 279 | |
| | | | | | | | |
| | |
| | Shares Held | | | | |
INVESTMENT COMPANIES - 1.8% | | | | | | | | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% | | | 207 | | | | 207 | |
Federated Treasury Obligations Fund - Institutional Class, 4.96% | | | 201 | | | | 201 | |
Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 5.03% | | | 201 | | | | 201 | |
| | | | | | | | |
| | |
Total investment companies (Cost $609) | | | | | | | 609 | |
| | | | | | | | |
| | |
Total short-term investments (Cost $8,383) | | | | | | | 8,428 | |
| | | | | | | | |
| | |
Total investments - 95.6% (Cost $31,068) | | | | | | | 31,512 | |
| | | | | | | | |
| | |
| | Principal Amount | | | | |
SECURITY SOLD SHORT - (0.8)% | | | | | | | | |
| | |
CORPORATE BOND - (0.8)% | | | | | | | | |
| | |
Mexico - (0.8)% | | | | | | | | |
Petroleos Mexicanos 6.88%, 10/16/2025(6) (Proceeds $(269)) | | $ | (275 | ) | | | (265 | ) |
| | | | | | | | |
| | |
Total investments after security sold short - 94.8% (Cost $30,799) | | | | | | | 31,247 | |
| | |
Other assets less liabilities - 5.2% | | | | | | | 1,705 | |
| | | | | | | | |
| | |
Total net assets - 100.0%# | | | | | | $ | 32,952 | |
| | | | | | | | |
Artisan Emerging Markets Debt Opportunities Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $17,593 or 53.4% of net assets. |
(2) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2023. |
(3) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(5) | Open repurchase agreement with no specific maturity date. Either party may terminate the agreement upon demand. |
(6) | At June 30, 2023, all or a portion of this security was pledged to cover collateral requirements for repurchase agreements. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Energy | | $ | 1,447 | | | | 4.6 | % |
Financials | | | 2,040 | | | | 6.5 | |
Foreign Government Securities | | | 17,831 | | | | 56.6 | |
Health Care | | | 413 | | | | 1.3 | |
Industrials | | | 227 | | | | 0.7 | |
Materials | | | 432 | | | | 1.4 | |
Utilities | | | 694 | | | | 2.2 | |
Short-Term Investments | | | 8,428 | | | | 26.7 | |
| | | | | | | | |
Total investments | | $ | 31,512 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
DOP | | $ | 1,595 | | | | 5.1 | % |
EUR | | | 5,183 | | | | 16.4 | |
IDR | | | 1,685 | | | | 5.3 | |
PEN | | | 1,592 | | | | 5.1 | |
RON | | | 568 | | | | 1.8 | |
RSD | | | 883 | | | | 2.8 | |
USD | | | 17,915 | | | | 56.9 | |
UYU | | | 1,229 | | | | 3.9 | |
UZS | | | 862 | | | | 2.7 | |
| | | | | | | | |
Total investments | | $ | 31,512 | | | | 100.0 | % |
| | | | | | | | |
Artisan Emerging Markets Debt Opportunities Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
FOREIGN CURRENCY FORWARD CONTRACTS
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | |
Currency Purchased | | | Currency Sold | | | Counterparty | | Settlement Date | | | Unrealized Appreciation (Depreciation) | |
EUR | | | 2,342 | | | | HUF | | | | 869,934 | | | SCB | | | 7/3/2023 | | | $ | 8 | |
HUF | | | 869,934 | | | | EUR | | | | 2,226 | | | SCB | | | 7/3/2023 | | | | 119 | |
KZT** | | | 912,790 | | | | USD | | | | 2,019 | | | SCB | | | 7/3/2023 | | | | 5 | |
USD | | | 210 | | | | NGN | | | | 110,000 | | | SCB | | | 7/5/2023 | | | | 66 | |
PLN | | | 2,690 | | | | EUR | | | | 603 | | | SCB | | | 7/10/2023 | | | | 4 | |
RON | | | 2,206 | | | | USD | | | | 484 | | | JPM | | | 7/10/2023 | | | | 1 | |
USD | | | 719 | | | | RON | | | | 3,209 | | | JPM | | | 7/10/2023 | | | | 13 | |
PEN** | | | 2,050 | | | | USD | | | | 553 | | | CITI | | | 7/11/2023 | | | | 12 | |
UZS** | | | 5,900,000 | | | | USD | | | | 506 | | | CITI | | | 7/17/2023 | | | | 6 | |
UZS** | | | 3,650,000 | | | | USD | | | | 308 | | | CITI | | | 7/17/2023 | | | | 9 | |
KZT** | | | 18,300 | | | | USD | | | | 40 | | | SCB | | | 7/18/2023 | | | | 1 | |
USD | | | 46 | | | | KES | ** | | | 6,200 | | | SCB | | | 7/20/2023 | | | | 2 | |
CZK | | | 19,300 | | | | EUR | | | | 809 | | | SCB | | | 7/24/2023 | | | | 1 | |
KZT** | | | 912,790 | | | | USD | | | | 1,991 | | | CITI | | | 7/31/2023 | | | | 17 | |
USD | | | 450 | | | | ZAR | | | | 8,256 | | | JPM | | | 8/8/2023 | | | | 13 | |
ZAR | | | 8,163 | | | | USD | | | | 431 | | | JPM | | | 8/8/2023 | | | | 2 | |
USD | | | 281 | | | | IDR | ** | | | 4,200,000 | | | CITI | | | 8/22/2023 | | | | 2 | |
IDR** | | | 2,300,000 | | | | USD | | | | 150 | | | CITI | | | 9/6/2023 | | | | 3 | |
EUR | | | 968 | | | | USD | | | | 1,060 | | | SCB | | | 9/20/2023 | | | | 1 | |
USD | | | 7,247 | | | | EUR | | | | 6,610 | | | SCB | | | 9/20/2023 | | | | 5 | |
UZS** | | | 3,650,000 | | | | USD | | | | 299 | | | CITI | | | 10/17/2023 | | | | 14 | |
UZS** | | | 567,859 | | | | USD | | | | 48 | | | CITI | | | 11/2/2023 | | | | — | ^ |
USD | | | 162 | | | | KES | ** | | | 23,300 | | | SCB | | | 12/6/2023 | | | | 3 | |
| | | | | | | | | | | | | | | | | | | | | | |
Total unrealized appreciation | | | | | | | 307 | |
| | | | | | | | | | | | | | | | | | | | | | |
USD | | | 2,007 | | | | KZT | ** | | | 912,790 | | | CITI | | | 7/3/2023 | | | | (17 | ) |
NGN | | | 110,000 | | | | USD | | | | 213 | | | SCB | | | 7/5/2023 | | | | (69 | ) |
THB | | | 10,290 | | | | USD | | | | 305 | | | SCB | | | 7/6/2023 | | | | (15 | ) |
USD | | | 306 | | | | RON | | | | 1,406 | | | JPM | | | 7/10/2023 | | | | (3 | ) |
USD | | | 884 | | | | PEN | ** | | | 3,262 | | | CITI | | | 7/11/2023 | | | | (15 | ) |
UZS** | | | 1,300,000 | | | | USD | | | | 113 | | | SCB | | | 7/17/2023 | | | | — | ^ |
KES** | | | 6,200 | | | | USD | | | | 48 | | | JPM | | | 7/20/2023 | | | | (4 | ) |
CZK | | | 2,300 | | | | EUR | | | | 97 | | | SCB | | | 7/24/2023 | | | | — | ^ |
HUF | | | 911,034 | | | | EUR | | | | 2,429 | | | SCB | | | 8/3/2023 | | | | (9 | ) |
USD | | | 182 | | | | EUR | | | | 167 | | | SCB | | | 9/20/2023 | | | | — | ^ |
THB | | | 10,290 | | | | USD | | | | 294 | | | SCB | | | 10/5/2023 | | | | (1 | ) |
USD | | | 479 | | | | UZS | ** | | | 5,700,000 | | | CITI | | | 10/17/2023 | | | | (11 | ) |
USD | | | 324 | | | | IDR | ** | | | 4,883,621 | | | CITI | | | 12/4/2023 | | | | — | ^ |
KES** | | | 123,000 | | | | USD | | | | 901 | | | SCB | | | 12/6/2023 | | | | (58 | ) |
USD | | | 637 | | | | KES | ** | | | 99,700 | | | SCB | | | 12/6/2023 | | | | (46 | ) |
| | | | | | | | | | | | | | | | | | | | | | |
Total unrealized depreciation | | | | | | | (248 | ) |
| | | | | | | | | | | | | | | | | | | | | | |
Net unrealized appreciation | | | | | | $ | 59 | |
| | | | | | | | | | | | | | | | | | | | | | |
Artisan Emerging Markets Debt Opportunities Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
FUTURES CONTRACTS
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | |
Description | | No. of Contracts | | | Expiration Date | | | Trading Currency | | | Notional Amount | | | Notional Value | | | Unrealized Appreciation/ (Depreciation) | |
Short Positions Contracts | | | | | |
Euro-Bobl | | | (19 | ) | | | 9/7/2023 | | | | EUR | | | $ | (1,900 | ) | | $ | (2,399 | ) | | $ | 33 | |
Euro-Bund | | | (15 | ) | | | 9/7/2023 | | | | EUR | | | | (1,500 | ) | | | (2,189 | ) | | | 11 | |
Euro-Schatz | | | (1 | ) | | | 9/7/2023 | | | | EUR | | | | (100 | ) | | | (114 | ) | | | 1 | |
U.S. Treasury 2 Year Note | | | (26 | ) | | | 9/29/2023 | | | | USD | | | | (5,200 | ) | | | (5,287 | ) | | | 59 | |
U.S. Treasury 5 Year Note | | | (9 | ) | | | 9/29/2023 | | | | USD | | | | (900 | ) | | | (964 | ) | | | 12 | |
U.S. Treasury 10 Year Note | | | (9 | ) | | | 9/20/2023 | | | | USD | | | | (900 | ) | | | (1,010 | ) | | | 13 | |
U.S. Treasury 10 Year Ultra Note | | | (8 | ) | | | 9/20/2023 | | | | USD | | | | (800 | ) | | | (948 | ) | | | 7 | |
U.S. Treasury Long Bond | | | (1 | ) | | | 9/20/2023 | | | | USD | | | | (100 | ) | | | (127 | ) | | | (1 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net unrealized appreciation | | | | | | | | | | | | | | | | | | | $ | 135 | |
| | | | | | | | | | | | | | | | | | | | | |
CENTRALLY CLEARED CREDIT DEFAULT SWAP - SELL PROTECTION
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Reference Entity | | Financing Rate (Paid) / Received by the Fund (%) | | | Frequency of Payments Made/Received | | Termination Date | | | Notional Amount | | | Upfront (Payments) Receipts | | | Unrealized Appreciation (Depreciation) | | | Value | |
Republic of South Africa | | | 1.00 | | | Quarterly | | | 6/20/2024 | | | USD | 275 | | | | — ^ | | | | — ^ | | | | — ^ | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Total | | | | — ^ | | | | — ^ | | | | — ^ | |
| | | | | | | | | | | | | |
CENTRALLY CLEARED INTEREST RATE SWAPS
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Floating Rate Index (Frequency) | | Fixed Rate (%) (Frequency) | | | Fund Pays/ Receives Floating Rate | | Termination Date | | | Notional Amount | | | Upfront Payments (Receipts) ($) | | | Unrealized Appreciation (Depreciation) ($) | | | Value ($) | |
4 week TIIE monthly | | | 8.65 monthly | | | Pay | | | 5/17/2032 | | | MXN | 5,490 | | | | — | | | | 11 | | | | 11 | |
4 week TIIE monthly | | | 8.72 monthly | | | Pay | | | 9/1/2032 | | | MXN | 22,700 | | | | 3 | | | | 49 | | | | 52 | |
1 day CLICP semi-annually | | | 7.86 semi-annually | | | Pay | | | 4/27/2025 | | | CLP | 2,010,200 | | | | 2 | | | | 28 | | | | 30 | |
1 day CLICP semi-annually | | | 5.16 semi-annually | | | Receive | | | 4/27/2033 | | | CLP | 469,000 | | | | (2 | ) | | | 3 | | | | 1 | |
1 day CDI at termination | | | 10.94 at termination | | | Pay | | | 1/2/2026 | | | BRL | 9,800 | | | | 4 | | | | 34 | | | | 38 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Total unrealized appreciation | | | | | | | | | | | | | | 7 | | | | 125 | | | | 132 | |
| | | | | | | | | | | | | | | | | | | | | | | |
4 week TIIE monthly | | | 9.87 monthly | | | Pay | | | 3/21/2025 | | | MXN | 109,800 | | | | (8 | ) | | | (12 | ) | | | (20 | ) |
1 day MIBOR semi-annually | | | 6.19 semi-annually | | | Pay | | | 5/26/2033 | | | INR | 51,000 | | | | — | | | | (10 | ) | | | (10 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Total unrealized depreciation | | | | | | | | | | | | | | (8 | ) | | | (22 | ) | | | (30 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
Total | | | | | | | | (1 | ) | | | 103 | | | | 102 | |
| | | | | | | | | | | | | | | | | |
Artisan Emerging Markets Debt Opportunities Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
OTC CREDIT DEFAULT SWAP - SELL PROTECTION
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Reference Entity | | Financing Rate (Paid) / Received by the Fund (%) | | | Frequency of Payments Made/Received | | | Counterparty | | | Maturity Date | | | Notional Amount | | | Upfront (Payments) Receipts | | | Unrealized Appreciation (Depreciation) | | | Value | |
Republic of South Africa | | | 1.00 | | | | Quarterly | | | | CITI | | | | 6/20/2024 | | | USD | 260 | | | | — ^ | | | | — ^ | | | | — ^ | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total | | | | | | | | | | | | | | | | | | | | | | | — ^ | | | | — ^ | | | | — ^ | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Floating Rate Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Principal amount, shares and dollar values in thousands
| | | | | | | | |
| | Principal Amount | | | Value | |
| | |
BANK LOANS - 84.4% | | | | | | | | |
| | |
Aerospace & Defense - 1.4% | | | | | | | | |
Jazz Acquisition, Inc. First Lien Term Loan (SOFR + 4.00%), 9.20%, 6/19/2026(1) | | $ | 633 | | | $ | 632 | |
| | | | | | | | |
| | |
Automobile Components - 0.5% | | | | | | | | |
Wheel Pros, Inc. First Lien Term Loan (ICE LIBOR USD 3 Month + 4.50%), 9.77%, 5/11/2028(1) | | | 341 | | | | 226 | |
| | | | | | | | |
| | |
Building Products - 0.8% | | | | | | | | |
CP Atlas Buyer, Inc. Term Loan B (SOFR + 3.75%), 8.95%, 11/23/2027(1) | | | 408 | | | | 383 | |
| | | | | | | | |
| | |
Capital Markets - 2.6% | | | | | | | | |
Edelman Financial Engines Center LLC Second Lien Term Loan (ICE LIBOR USD 1 Month + 6.75%), 11.94%, 7/20/2026(1) | | | 1,250 | | | | 1,204 | |
| | | | | | | | |
| | |
Chemicals - 0.9% | | | | | | | | |
Iris Holding, Inc. First Lien Term Loan | | | | | | | | |
(SOFR + 4.75%), 9.90%, 6/28/2028(1) | | | 496 | | | | 418 | |
| | | | | | | | |
| | |
Commercial Services - 6.0% | | | | | | | | |
Digital Room Holdings, Inc. First Lien Term Loan (SOFR + 5.25%), 10.45%, 12/21/2028(1) | | | 573 | | | | 513 | |
Employbridge Holding Co. Term Loan B | | | | | | | | |
(SOFR + 4.75%), 10.26%, 7/19/2028(1) | | | 1,480 | | | | 1,189 | |
(SOFR + 4.75%), 10.29%, 7/19/2028(1) | | | 8 | | | | 6 | |
National Intergovernmental Purchasing Alliance Co. First Lien Term Loan (SOFR + 3.50%), 8.40%, 5/23/2025(1) | | | 362 | | | | 359 | |
National Intergovernmental Purchasing Alliance Co. Second Lien Term Loan (SOFR + 7.50%), 12.40%, 5/26/2026(1) | | | 315 | | | | 293 | |
New SK Holdco Sub LLC Term Loan (SOFR + 8.25%), 13.43%, 6/30/2027(1) | | | 499 | | | | 430 | |
| | | | | | | | |
| | | | | | | 2,790 | |
| | | | | | | | |
| | |
Commercial Services & Supplies - 3.6% | | | | | | | | |
Neptune BidCo US, Inc. First Lien Term Loan B (SOFR + 5.00%), 9.99%, 4/11/2029(1) | | | 1,152 | | | | 1,011 | |
Spin Holdco, Inc. Term Loan (ICE LIBOR USD 3 Month + 4.00%), 9.23%, 3/4/2028(1) | | | 746 | | | | 637 | |
| | | | | | | | |
| | | | | | | 1,648 | |
| | | | | | | | |
| | |
Communications Equipment - 2.1% | | | | | | | | |
Delta Topco, Inc. First Lien Term Loan (SOFR + 3.75%), 9.07%, 12/1/2027(1) | | | 997 | | | | 964 | |
Delta Topco, Inc. Second Lien Term Loan (SOFR + 7.25%), 12.57%, 12/1/2028(1) | | | 25 | | | | 23 | |
| | | | | | | | |
| | | | | | | 987 | |
| | | | | | | | |
| | |
Construction & Engineering - 2.7% | | | | | | | | |
CD&R Hydra Buyer, Inc. Term Loan (SOFR + 4.25%), 9.45%, 12/11/2024(1) | | | 1,225 | | | | 1,217 | |
| | | | | | | | |
| | |
Diversified Consumer Services - 2.1% | | | | | | | | |
KUEHG Corp. First Lien Term Loan (SOFR + 5.00%), 10.15%, 5/23/2030(1) | | | 950 | | | | 939 | |
| | | | | | | | |
| | |
Diversified Telecommunication Services - 0.3% | | | | | | | | |
Zayo Group Holdings, Inc. Term Loan (SOFR + 3.00%), 8.22%, 3/9/2027(1) | | | 173 | | | | 135 | |
| | | | | | | | |
| | |
Electrical Equipment - 0.6% | | | | | | | | |
Indicor LLC First Lien Term Loan (SOFR + 4.50%), 9.74%, 11/22/2029(1) | | | 284 | | | | 283 | |
| | | | | | | | |
| | |
Financial Services - 1.6% | | | | | | | | |
Trans Union LLC Term Loan B5 (SOFR + 1.75%), 6.95%, 11/16/2026(1) | | | 739 | | | | 736 | |
| | | | | | | | |
| | |
Food - 1.2% | | | | | | | | |
Chefs’ Warehouse, Inc. Term Loan (SOFR + 4.75%), 9.95%, 8/23/2029(1) | | | 545 | | | | 543 | |
| | | | | | | | |
| | |
Food Products - 3.2% | | | | | | | | |
B&G Foods, Inc. Term Loan B4 (SOFR + 2.50%), 7.65%, 10/10/2026(1) | | | 1,079 | | | | 1,055 | |
H-Food Holdings LLC Term Loan (SOFR + 3.69%), 9.27%, 5/23/2025(1) | | | 272 | | | | 239 | |
H-Food Holdings LLC Term Loan B2 (SOFR + 4.00%), 9.58%, 5/23/2025(1) | | | 73 | | | | 64 | |
H-Food Holdings LLC Term Loan B3 (SOFR + 5.00%), 10.58%, 5/23/2025(1) | | | 11 | | | | 10 | |
Shearer’s Foods LLC First Lien Term Loan (SOFR + 3.50%), 8.72%, 9/23/2027(1) | | | 118 | | | | 116 | |
| | | | | | | | |
| | | | | | | 1,484 | |
| | | | | | | | |
Artisan Floating Rate Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Principal amount, shares and dollar values in thousands
| | | | | | | | |
Food Service - 2.6% | | | | | | | | |
TKC Holdings, Inc. Term Loan (ICE LIBOR USD 1 Month + 5.50%), 10.69%, 5/15/2028(1) | | | 1,201 | | | | 1,114 | |
TKC Midco 1 LLC Term Loan 12.00% Cash, 13.50% PIK, 2/15/2027 | | | 199 | | | | 59 | |
| | | | | | | | |
| | | | | | | 1,173 | |
| | | | | | | | |
| | |
Health Care Equipment & Supplies - 3.5% | | | | | | | | |
Fortrea Holdings, Inc. Term Loan B (SOFR + 3.50%), 8.99%, 7/1/2030(1) | | | 143 | | | | 143 | |
GHX Ultimate Parent Corp. Term Loan (SOFR + 4.75%), 9.79%, 6/30/2027(1) | | | 196 | | | | 196 | |
Medline Borrower LP Term Loan (SOFR + 3.25%), 8.35%, 10/23/2028(1) | | | 1,249 | | | | 1,233 | |
| | | | | | | | |
| | | | | | | 1,572 | |
| | | | | | | | |
| | |
Health Care Providers & Services - 1.4% | | | | | | | | |
CVET Midco 2 LP First Lien Term Loan (SOFR + 5.00%), 10.24%, 10/13/2029(1) | | | 499 | | | | 463 | |
Surgery Center Holdings, Inc. Term Loan (SOFR + 3.75%), 8.90%, 8/31/2026(1) | | | 183 | | | | 183 | |
| | | | | | | | |
| | | | | | | 646 | |
| | | | | | | | |
| | |
Insurance - 10.8% | | | | | | | | |
Acrisure LLC First Lien Term Loan (ICE LIBOR USD 1 Month + 4.25%), 9.44%, 2/15/2027(1) | | | 231 | | | | 226 | |
Amynta Agency Borrower, Inc. First Lien Term Loan (SOFR + 5.00%), 10.20%, 2/28/2028(1) | | | 1,500 | | | | 1,456 | |
AssuredPartners, Inc. Term Loan (SOFR + 3.50%), 8.60%, 2/12/2027(1) | | | 763 | | | | 755 | |
BroadStreet Partners, Inc. Term Loan (SOFR + 2.75%), 7.97%, 1/27/2027(1) | | | 1,131 | | | | 1,115 | |
Hub International Ltd. Term Loan | | | | | | | | |
(SOFR + 4.00%), 9.07%, 11/10/2029(1) | | | 498 | | | | 497 | |
(SOFR + 4.25%), 9.34%, 6/20/2030(1) | | | 98 | | | | 98 | |
USI, Inc. Term Loan (SOFR + 3.75%), 8.99%, 11/22/2029(1) | | | 798 | | | | 796 | |
| | | | | | | | |
| | | | | | | 4,943 | |
| | | | | | | | |
| | |
Investment Companies - 4.5% | | | | | | | | |
Nexus Buyer LLC First Lien Term Loan (SOFR + 3.75%), 8.95%, 11/9/2026(1) | | | 995 | | | | 958 | |
Nexus Buyer LLC Second Lien Term Loan (SOFR + 6.25%), 11.45%, 11/5/2029(1) | | | 1,211 | | | | 1,079 | |
| | | | | | | | |
| | | | | | | 2,037 | |
| | | | | | | | |
| | |
IT Services - 1.7% | | | | | | | | |
Arches Buyer, Inc. Term Loan (SOFR + 3.25%), 8.45%, 12/6/2027(1) | | | 792 | | | | 763 | |
| | | | | | | | |
| | |
Machinery - 0.7% | | | | | | | | |
CD&R Hydra Buyer, Inc. Second Lien Term Loan (SOFR + 8.00%), 13.20%, 4/30/2026(1) | | | 333 | | | | 313 | |
| | | | | | | | |
| | |
Software - 22.6% | | | | | | | | |
Applied Systems, Inc. First Lien Term Loan (SOFR + 4.50%), 9.40%, 9/18/2026(1) | | | 232 | | | | 232 | |
Applied Systems, Inc. Second Lien Term Loan (SOFR + 6.75%), 11.99%, 9/17/2027(1) | | | 118 | | | | 118 | |
Central Parent, Inc. First Lien Term Loan (SOFR + 4.25%), 9.49%, 7/6/2029(1) | | | 498 | | | | 496 | |
CommerceHub, Inc. First Lien Term Loan (SOFR + 4.00%), 9.22%, 12/29/2027(1) | | | 708 | | | | 614 | |
CommerceHub, Inc. Second Lien Term Loan (SOFR + 7.00%), 12.22%, 12/29/2028(1) | | | 60 | | | | 46 | |
Epicor Software Corp. Term Loan C (SOFR + 3.25%), 8.47%, 7/30/2027(1) | | | 1,044 | | | | 1,030 | |
Matrix Parent, Inc. First Lien Term Loan (SOFR + 5.00%), 10.39%, 3/1/2029(1) | | | 920 | | | | 602 | |
Orchid Merger Sub II LLC Term Loan (SOFR + 4.75%), 10.14%, 7/27/2027(1) | | | 797 | | | | 575 | |
Renaissance Holdings Corp. First Lien Term Loan (SOFR + 4.75%), 9.90%, 4/5/2030(1) | | | 1,727 | | | | 1,703 | |
Renaissance Holdings Corp. Second Lien Term Loan (ICE LIBOR USD 1 Month + 7.00%), 12.19%, 5/29/2026(1) | | | 120 | | | | 117 | |
SS&C Technologies Holdings, Inc. Term Loan B3 (SOFR + 1.75%), 6.97%, 4/16/2025(1) | | | 394 | | | | 394 | |
SS&C Technologies Holdings, Inc. Term Loan B4 (SOFR + 1.75%), 6.97%, 4/16/2025(1) | | | 352 | | | | 351 | |
Artisan Floating Rate Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Principal amount, shares and dollar values in thousands
| | | | | | | | |
UKG, Inc. First Lien Term Loan (SOFR + 3.25%), 8.27%, 5/4/2026(1) | | | 1,760 | | | | 1,725 | |
UKG, Inc. Second Lien Term Loan (SOFR + 5.25%), 10.62%, 5/3/2027(1) | | | 985 | | | | 953 | |
Virgin Pulse, Inc. First Lien Term Loan (SOFR + 3.75%), 8.97%, 4/6/2028(1) | | | 1,477 | | | | 1,394 | |
| | | | | | | | |
| | | | | | | 10,350 | |
| | | | | | | | |
| | |
Telecommunications - 4.5% | | | | | | | | |
Gridiron Fiber Corp. First Lien Term Loan (SOFR + 4.50%), 9.86%, 10/4/2028(1) | | | 2,173 | | | | 2,053 | |
| | | | | | | | |
| | |
Transportation - 2.5% | | | | | | | | |
SIRVA Worldwide, Inc. First Lien Term Loan | | | | | | | | |
(SOFR + 5.50%), 10.65%, 8/4/2025(1) | | | 888 | | | | 794 | |
(SOFR + 5.50%), 10.66%, 8/4/2025(1) | | | 9 | | | | 8 | |
(SOFR + 5.50%), 10.77%, 8/4/2025(1) | | | 200 | | | | 179 | |
(SOFR + 5.50%), 10.98%, 8/4/2025(1) | | | 158 | | | | 141 | |
| | | | | | | | |
| | | | | | | 1,122 | |
| | | | | | | | |
| | |
Total bank loans (Cost $40,323) | | | | | | | 38,597 | |
| | | | | | | | |
| | |
CORPORATE BONDS - 7.7% | | | | | | | | |
| | |
Banks - 1.2% | | | | | | | | |
Goldman Sachs Capital II (ICE LIBOR USD 3 Month + 0.77%), 6.26%, 6/30/2023(1)(2) | | | 720 | | | | 560 | |
| | | | | | | | |
| | |
Electrical Equipment - 2.1% | | | | | | | | |
Regal Rexnord Corp. 6.30%, 2/15/2030(3) | | | 946 | | | | 943 | |
| | | | | | | | |
| | |
Health Care Equipment & Supplies - 1.1% | | | | | | | | |
Medline Borrower LP 3.88%, 4/1/2029(3) | | | 600 | | | | 522 | |
| | | | | | | | |
| | |
Hotels, Restaurants & Leisure - 1.3% | | | | | | | | |
Carnival Corp. 4.00%, 8/1/2028(3) | | | 648 | | | | 575 | |
| | | | | | | | |
| | |
Insurance - 0.6% | | | | | | | | |
Acrisure LLC 4.25%, 2/15/2029(3) | | | 320 | | | | 276 | |
| | | | | | | | |
| | |
IT Services - 1.1% | | | | | | | | |
Arches Buyer, Inc. 4.25%, 6/1/2028(3) | | | 585 | | | | 509 | |
| | | | | | | | |
| | |
Specialty Retail - 0.3% | | | | | | | | |
Evergreen Acqco 1 LP 9.75%, 4/26/2028(3) | | | 126 | | | | 130 | |
| | | | | | | | |
Total corporate bonds (Cost $3,682) | | | | | | | 3,515 | |
| | | | | | | | |
| | |
| | No. of Warrants‡ | | | | |
WARRANTS - 0.0% | | | | | | | | |
| | |
Financial Services - 0.0% | | | | | | | | |
Carnelian Point Holdings LP, expiring 6/30/2027, strike price 10 (Cost $—)*(4)(5) | | | 1 | | | | — | |
| | | | | | | | |
| | |
| | Shares Held | | | | |
SHORT-TERM INVESTMENTS - 8.4% | | | | | | | | |
| | |
INVESTMENT COMPANIES - 8.4% | | | | | | | | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% | | | 1,310 | | | | 1,310 | |
Federated Treasury Obligations Fund - Institutional Class, 4.96% | | | 1,272 | | | | 1,272 | |
Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 5.03% | | | 1,272 | | | | 1,272 | |
| | | | | | | | |
Total short-term investments (Cost $3,854) | | | | | | | 3,854 | |
| | | | | | | | |
Total investments - 100.5% (Cost $47,859) | | | | | | | 45,966 | |
Other assets less liabilities - (0.5%) | | | | | | | (207 | ) |
| | | | | | | | |
Total net assets - 100.0%# | | | | | | $ | 45,759 | |
| | | | | | | | |
Artisan Floating Rate Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2023. |
(2) | Perpetual security. The rate reflected was the rate in effect on June 30, 2023. The maturity date reflects the next call date. |
(3) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(4) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $0, or 0.0% of total net assets. See notes (B) and (C) in the accompanying notes. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 2,188 | | | | 4.8 | % |
Consumer Discretionary | | | 1,870 | | | | 4.0 | |
Consumer Staples | | | 3,200 | | | | 7.0 | |
Financials | | | 10,186 | | | | 22.2 | |
Health Care | | | 2,740 | | | | 5.9 | |
Industrials | | | 8,901 | | | | 19.4 | |
Information Technology | | | 12,609 | | | | 27.4 | |
Materials | | | 418 | | | | 0.9 | |
Short-Term Investments | | | 3,854 | | | | 8.4 | |
| | | | | | | | |
Total investments | | $ | 45,966 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Focus Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 97.7% | | | | | | | | |
| | |
Aerospace & Defense - 12.1% | | | | | | | | |
Boeing Co. (The) * | | | 189 | | | $ | 39,817 | |
Howmet Aerospace, Inc. | | | 437 | | | | 21,669 | |
Safran SA(1)(2) | | | 178 | | | | 28,031 | |
TransDigm Group, Inc. | | | 74 | | | | 66,103 | |
| | | | | | | | |
| | | | | | | 155,620 | |
| | | | | | | | |
| | |
Capital Markets - 5.4% | | | | | | | | |
Intercontinental Exchange, Inc. | | | 171 | | | | 19,292 | |
S&P Global, Inc. | | | 124 | | | | 49,563 | |
| | | | | | | | |
| | | | | | | 68,855 | |
| | | | | | | | |
| | |
Chemicals - 7.5% | | | | | | | | |
Ecolab, Inc. | | | 143 | | | | 26,730 | |
Linde plc | | | 181 | | | | 69,074 | |
| | | | | | | | |
| | | | | | | 95,804 | |
| | | | | | | | |
| | |
Construction & Engineering - 2.5% | | | | | | | | |
Quanta Services, Inc. | | | 163 | | | | 32,066 | |
| | | | | | | | |
| | |
Electric Utilities - 9.9% | | | | | | | | |
Constellation Energy Corp. | | | 346 | | | | 31,657 | |
NextEra Energy, Inc. | | | 1,290 | | | | 95,745 | |
| | | | | | | | |
| | | | | | | 127,402 | |
| | | | | | | | |
| | |
Financial Services - 2.1% | | | | | | | | |
Visa, Inc., Class A | | | 115 | | | | 27,416 | |
| | | | | | | | |
| | |
Ground Transportation - 6.7% | | | | | | | | |
Canadian Pacific Kansas City Ltd.(1) | | | 869 | | | | 70,176 | |
Old Dominion Freight Line, Inc. | | | 43 | | | | 15,789 | |
| | | | | | | | |
| | | | | | | 85,965 | |
| | | | | | | | |
| | |
Health Care Equipment & Supplies - 4.1% | | | | | | | | |
Dexcom, Inc. * | | | 259 | | | | 33,244 | |
Intuitive Surgical, Inc. * | | | 57 | | | | 19,593 | |
| | | | | | | | |
| | | | | | | 52,837 | |
| | | | | | | | |
| | |
Health Care Providers & Services - 4.9% | | | | | | | | |
UnitedHealth Group, Inc.(3) | | | 131 | | | | 62,955 | |
| | | | | | | | |
| | |
Industrial Conglomerates - 7.4% | | | | | | | | |
General Electric Co. | | | 866 | | | | 95,140 | |
| | | | | | | | |
| | |
Interactive Media & Services - 1.0% | | | | | | | | |
Meta Platforms, Inc., Class A * | | | 45 | | | | 12,993 | |
| | | | | | | | |
| | |
IT Services - 0.7% | | | | | | | | |
Snowflake, Inc., Class A * | | | 52 | | | | 9,231 | |
| | | | | | | | |
| | |
Life Sciences Tools & Services - 1.0% | | | | | | | | |
Danaher Corp. | | | 55 | | | | 13,118 | |
| | | | | | | | |
| | |
Pharmaceuticals - 2.0% | | | | | | | | |
Eli Lilly & Co. | | | 55 | | | | 25,784 | |
| | | | | | | | |
| | |
Professional Services - 4.2% | | | | | | | | |
Equifax, Inc. | | | 94 | | | | 22,194 | |
Verisk Analytics, Inc. | | | 142 | | | | 32,160 | |
| | | | | | | | |
| | | | | | | 54,354 | |
| | | | | | | | |
| | |
Semiconductors & Semiconductor Equipment - 11.2% | | | | | | | | |
Advanced Micro Devices, Inc. * | | | 115 | | | | 13,052 | |
NVIDIA Corp. | | | 167 | | | | 70,569 | |
Taiwan Semiconductor Manufacturing Co. Ltd., ADR(1) | | | 598 | | | | 60,369 | |
| | | | | | | | |
| | | | | | | 143,990 | |
| | | | | | | | |
| | |
Software - 11.2% | | | | | | | | |
Microsoft Corp. | | | 302 | | | | 103,004 | |
Oracle Corp. | | | 340 | | | | 40,525 | |
| | | | | | | | |
| | | | | | | 143,529 | |
| | | | | | | | |
| | |
Specialized REITs - 3.1% | | | | | | | | |
Equinix, Inc. | | | 51 | | | | 39,784 | |
| | | | | | | | |
| | |
Textiles, Apparel & Luxury Goods - 0.7% | | | | | | | | |
NIKE, Inc., Class B | | | 86 | | | | 9,515 | |
| | | | | | | | |
| | |
Total common stocks (Cost $1,078,800) | | | | | | | 1,256,358 | |
| | | | | | | | |
| | |
| | No. of Contracts‡ | | | | |
| | |
OPTION PURCHASED - 0.1% | | | | | | | | |
| | |
Call Option - 0.1% | | | | | | | | |
| | |
Aerospace & Defense - 0.1% | | | | | | | | |
Boeing Co. (The) 9/15/2023 at USD 210.00; Notional Amount: USD 23,671 | | | 1,121 | | | | 1,407 | |
| | | | | | | | |
| | |
Total Call Option | | | | | | | 1,407 | |
| | | | | | | | |
| | |
Total Option Purchased (Cost $1,651) | | | | | | | 1,407 | |
| | | | | | | | |
| | |
| | Shares Held | | | | |
| | |
SHORT-TERM INVESTMENT - 3.8% | | | | | | | | |
| | |
INVESTMENT COMPANY - 3.8% | | | | | | | | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $48,278) | | | 48,278 | | | | 48,278 | |
| | | | | | | | |
| | |
Total investments - 101.6% (Cost $1,128,729) | | | | | | | 1,306,043 | |
| | |
WRITTEN OPTION CONTRACTS - (0.1)% (Premiums received $(1,518)) | | | | | | | (1,484 | ) |
| | |
Other assets less liabilities - (1.5%) | | | | | | | (18,784 | ) |
| | | | | | | | |
| | |
Total net assets - 100.0% # | | | | | | $ | 1,285,775 | |
| | | | | | | | |
Artisan Focus Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications. |
| | | | |
Security | | Country | | Trading Currency |
Canadian Pacific Kansas City Ltd. | | Canada | | USD |
Safran SA | | France | | EUR |
Taiwan Semiconductor Manufacturing Co. Ltd. | | Taiwan | | USD |
(2) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $28,031, or 2.2% of total net assets. See notes (B) and (C) in the accompanying notes. |
(3) | At June 30, 2023, all or a portion of this security was pledged to cover collateral requirements for written options. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 12,993 | | | | 1.0 | % |
Consumer Discretionary | | | 9,515 | | | | 0.7 | |
Financials | | | 96,271 | | | | 7.4 | |
Health Care | | | 154,695 | | | | 11.9 | |
Industrials | | | 424,551 | | | | 32.5 | |
Information Technology | | | 296,751 | | | | 22.7 | |
Materials | | | 95,803 | | | | 7.3 | |
Real Estate | | | 39,784 | | �� | | 3.0 | |
Utilities | | | 127,402 | | | | 9.8 | |
Short-Term Investment | | | 48,278 | | | | 3.7 | |
| | | | | | | | |
Total investments | | $ | 1,306,043 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
EUR | | $ | 28,031 | | | | 2.1 | % |
USD | | | 1,278,012 | | | | 97.9 | |
| | | | | | | | |
Total investments | | $ | 1,306,043 | | | | 100.0 | % |
| | | | | | | | |
Artisan Focus Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
FOREIGN CURRENCY FORWARD CONTRACTS
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | |
Currency Purchased | | | Currency Sold | | | Counterparty | | Settlement Date | | | Unrealized Appreciation (Depreciation) | |
CAD | | | 75,131 | | | | USD | | | | 55,915 | | | JPM | | | 7/20/2023 | | | $ | 812 | |
USD | | | 25,080 | | | | EUR | | | | 22,710 | | | JPM | | | 7/20/2023 | | | | 279 | |
| | | | | | | | |
Total unrealized appreciation | | | | | | | | | | 1,091 | |
| | | | | | | | |
CAD | | | 13,256 | | | | USD | | | | 10,037 | | | JPM | | | 7/20/2023 | | | | (29 | ) |
USD | | | 122,195 | | | | CAD | | | | 165,271 | | | JPM | | | 7/20/2023 | | | | (2,590 | ) |
| | | | | | | | | | | | | | | | | | | | | | |
Total unrealized depreciation | | | | | | | (2,619 | ) |
| | | | | | | | |
Net unrealized depreciation | | | | | | $ | (1,528 | ) |
| | | | | | | | |
WRITTEN OPTION CONTRACTS
Dollar values in thousands except exercise price
Call Options
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Number of Contracts‡ | | | Description | | Exercise Price | | | Notional Amount | | | Expiration Date | | | Premiums Paid/(Received) by Fund | | | Value | | | Unrealized Appreciation | |
| 652 | | | NVIDIA Corp. | | $ | 470.00 | | | $ | 27,581 | | | | 8/18/23 | | | $ | (639 | ) | | $ | (623 | ) | | $ | 16 | |
| 5,981 | | | Taiwan Semiconductor Manufacturing Co. Ltd. | | | 110.00 | | | | 60,360 | | | | 8/18/23 | | | | (879 | ) | | | (861 | ) | | | 18 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total written option contracts | | | $ | (1,518 | ) | | $ | (1,484 | ) | | $ | 34 | |
| | | | | | | | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Global Discovery Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 94.0% | |
|
Brazil - 1.7% | |
NU Holdings Ltd., Class A * | | | 560 | | | $ | 4,421 | |
| | | | | | | | |
|
Canada - 1.3% | |
CAE, Inc. * | | | 155 | | | | 3,475 | |
| | | | | | | | |
|
China - 1.4% | |
Proya Cosmetics Co. Ltd., Class A(1) | | | 116 | | | | 1,794 | |
Silergy Corp.(1) | | | 156 | | | | 1,950 | |
| | | | | | | | |
| | | | | | | 3,744 | |
| | | | | | | | |
|
Denmark - 3.2% | |
Ascendis Pharma A/S, ADR * | | | 44 | | | | 3,960 | |
Vestas Wind Systems A/S *(1) | | | 168 | | | | 4,457 | |
| | | | | | | | |
| | | | | | | 8,417 | |
| | | | | | | | |
|
Finland - 1.8% | |
Metso Outotec OYJ(1) | | | 309 | | | | 3,725 | |
Neste OYJ(1) | | | 27 | | | | 1,048 | |
| | | | | | | | |
| | | | | | | 4,773 | |
| | | | | | | | |
|
Germany - 4.8% | |
adidas AG(1) | | | 12 | | | | 2,329 | |
Gerresheimer AG(1) | | | 62 | | | | 7,007 | |
Sartorius AG (Preference)(1) | | | 9 | | | | 3,178 | |
| | | | | | | | |
| | | | | | | 12,514 | |
| | | | | | | | |
|
Hong Kong - 2.4% | |
Techtronic Industries Co. Ltd.(1) | | | 562 | | | | 6,154 | |
| | | | | | | | |
|
Iceland - 0.1% | |
Marel HF(1)(2) | | | 84 | | | | 261 | |
| | | | | | | | |
|
Italy - 2.4% | |
Davide Campari-Milano NV(1) | | | 229 | | | | 3,174 | |
Moncler SpA(1) | | | 42 | | | | 2,928 | |
| | | | | | | | |
| | | | | | | 6,102 | |
| | | | | | | | |
|
Japan - 1.6% | |
Obic Co. Ltd.(1) | | | 26 | | | | 4,168 | |
| | | | | | | | |
|
Luxembourg - 0.4% | |
Eurofins Scientific SE(1) | | | 18 | | | | 1,148 | |
| | | | | | | | |
|
Netherlands - 3.7% | |
Adyen NV *(1)(2) | | | 1 | | | | 1,862 | |
Argenx SE, ADR * | | | 20 | | | | 7,639 | |
| | | | | | | | |
| | | | | | | 9,501 | |
| | | | | | | | |
|
Singapore - 0.8% | |
Sea Ltd., ADR * | | | 33 | | | | 1,935 | |
| | | | | | | | |
|
United Kingdom - 6.3% | |
CNH Industrial NV(1) | | | 220 | | | | 3,175 | |
London Stock Exchange Group plc(1) | | | 76 | | | | 8,057 | |
Smiths Group plc(1) | | | 246 | | | | 5,144 | |
| | | | | | | | |
| | | | | | | 16,376 | |
| | | | | | | | |
|
United States - 62.1% | |
Advanced Micro Devices, Inc. * | | | 59 | | | | 6,702 | |
Arista Networks, Inc. * | | | 24 | | | | 3,876 | |
Atlassian Corp., Class A * | | | 33 | | | | 5,501 | |
Bentley Systems, Inc., Class B | | | 104 | | | | 5,647 | |
BJ’s Wholesale Club Holdings, Inc. * | | | 22 | | | | 1,392 | |
Boston Scientific Corp. * | | | 225 | | | | 12,185 | |
Ceridian HCM Holding, Inc. * | | | 50 | | | | 3,344 | |
Clearwater Analytics Holdings, Inc., Class A * | | | 181 | | | | 2,870 | |
Cooper Cos., Inc. (The) | | | 8 | | | | 2,983 | |
Five Below, Inc. * | | | 15 | | | | 2,921 | |
Global Payments, Inc. | | | 33 | | | | 3,241 | |
Guidewire Software, Inc. * | | | 51 | | | | 3,910 | |
Hubbell, Inc. | | | 5 | | | | 1,701 | |
HubSpot, Inc. * | | | 12 | | | | 6,422 | |
Ingersoll Rand, Inc. | | | 88 | | | | 5,755 | |
iRhythm Technologies, Inc. * | | | 34 | | | | 3,580 | |
Lattice Semiconductor Corp. * | | | 98 | | | | 9,433 | |
Live Nation Entertainment, Inc. * | | | 30 | | | | 2,770 | |
MACOM Technology Solutions Holdings, Inc. * | | | 49 | | | | 3,219 | |
Monolithic Power Systems, Inc. | | | 7 | | | | 3,977 | |
Nasdaq, Inc. | | | 53 | | | | 2,651 | |
ON Semiconductor Corp. * | | | 95 | | | | 8,994 | |
Pool Corp. | | | 8 | | | | 2,856 | |
S&P Global, Inc. | | | 11 | | | | 4,527 | |
Saia, Inc. * | | | 5 | | | | 1,821 | |
Shockwave Medical, Inc. * | | | 9 | | | | 2,569 | |
Take-Two Interactive Software, Inc. * | | | 11 | | | | 1,599 | |
Teledyne Technologies, Inc. * | | | 12 | | | | 5,020 | |
Tradeweb Markets, Inc., Class A | | | 52 | | | | 3,527 | |
Trex Co., Inc. * | | | 42 | | | | 2,759 | |
Tyler Technologies, Inc. * | | | 10 | | | | 4,038 | |
Valmont Industries, Inc. | | | 12 | | | | 3,535 | |
Veeva Systems, Inc., Class A * | | | 75 | | | | 14,826 | |
WESCO International, Inc. | | | 1 | | | | 170 | |
West Pharmaceutical Services, Inc. | | | 10 | | | | 3,944 | |
Workiva, Inc., Class A * | | | 46 | | | | 4,665 | |
Zscaler, Inc. * | | | 17 | | | | 2,435 | |
| | | | | | | | |
| | | | | | | 161,365 | |
| | | | | | | | |
Total common stocks (Cost $184,686) | | | | 244,354 | |
| | | | | |
Artisan Global Discovery Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
SHORT-TERM INVESTMENT - 5.3% | |
|
INVESTMENT COMPANY - 5.3% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $13,869) | | | 13,869 | | | | 13,869 | |
| | | | | | | | |
| |
Total investments - 99.3% (Cost $198,555) | | | | 258,223 | |
| |
Other assets less liabilities - 0.7% | | | | 1,796 | |
| | | | | |
| |
Total net assets - 100.0% # | | | $ | 260,019 | |
| | | | | |
Artisan Global Discovery Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $61,559, or 23.7% of total net assets. See notes (B) and (C) in the accompanying notes. |
(2) | Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $2,123 or 0.8% of net assets. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 6,304 | | | | 2.4 | % |
Consumer Discretionary | | | 11,034 | | | | 4.3 | |
Consumer Staples | | | 6,360 | | | | 2.5 | |
Energy | | | 1,048 | | | | 0.4 | |
Financials | | | 28,286 | | | | 11.0 | |
Health Care | | | 63,019 | | | | 24.4 | |
Industrials | | | 45,476 | | | | 17.6 | |
Information Technology | | | 82,827 | | | | 32.0 | |
Short-Term Investment | | | 13,869 | | | | 5.4 | |
| | | | | | | | |
Total investments | | $ | 258,223 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
CAD | | $ | 3,475 | | | | 1.3 | % |
CNY | | | 1,794 | | | | 0.7 | |
DKK | | | 4,457 | | | | 1.7 | |
EUR | | | 29,835 | | | | 11.6 | |
GBP | | | 13,201 | | | | 5.1 | |
HKD | | | 6,154 | | | | 2.4 | |
JPY | | | 4,168 | | | | 1.6 | |
TWD | | | 1,950 | | | | 0.8 | |
USD | | | 193,189 | | | | 74.8 | |
| | | | | | | | |
Total investments | | $ | 258,223 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Global Equity Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 99.1% | |
|
Belgium - 1.1% | |
UCB SA(1) | | | 24 | | | $ | 2,170 | |
| | | | | | | | |
|
Canada - 1.3% | |
Canadian Pacific Kansas City Ltd. | | | 17 | | | | 1,357 | |
Descartes Systems Group, Inc. (The) * | | | 14 | | | | 1,113 | |
| | | | | | | | |
| | | | | | | 2,470 | |
| | | | | | | | |
|
China - 1.2% | |
Lufax Holding Ltd., ADR | | | 1,580 | | | | 2,259 | |
| | | | | | | | |
|
Denmark - 6.4% | |
Ascendis Pharma A/S, ADR * | | | 19 | | | | 1,659 | |
Carlsberg A/S, Class B(1) | | | 20 | | | | 3,275 | |
Novo Nordisk A/S, ADR | | | 11 | | | | 1,738 | |
Novo Nordisk A/S, Class B(1) | | | 35 | | | | 5,722 | |
| | | | | | | | |
| | | | | | | 12,394 | |
| | | | | | | | |
|
France - 6.8% | |
Air Liquide SA(1) | | | 32 | | | | 5,741 | |
Kering SA(1) | | | 2 | | | | 962 | |
LVMH Moet Hennessy Louis Vuitton SE(1) | | | 5 | | | | 4,583 | |
Pernod Ricard SA(1) | | | 8 | | | | 1,794 | |
| | | | | | | | |
| | | | | | | 13,080 | |
| | | | | | | | |
|
Germany - 4.8% | |
AIXTRON SE(1) | | | 79 | | | | 2,680 | |
Deutsche Telekom AG(1) | | | 168 | | | | 3,657 | |
Gerresheimer AG(1) | | | 27 | | | | 3,048 | |
| | | | | | | | |
| | | | | | | 9,385 | |
| | | | | | | | |
|
Hong Kong - 1.8% | |
AIA Group Ltd.(1) | | | 352 | | | | 3,588 | |
| | | | | | | | |
|
Indonesia - 0.3% | |
Mitra Adiperkasa Tbk. PT *(1) | | | 4,575 | | | | 517 | |
| | | | | | | | |
|
Italy - 3.6% | |
BFF Bank SpA(1)(2) | | | 643 | | | | 7,048 | |
| | | | | | | | |
|
Japan - 4.7% | |
Daiichi Sankyo Co. Ltd.(1) | | | 223 | | | | 7,068 | |
Nippon Sanso Holdings Corp.(1) | | | 89 | | | | 1,939 | |
| | | | | | | | |
| | | | | | | 9,007 | |
| | | | | | | | |
|
Netherlands - 4.0% | |
Adyen NV*(1)(2) | | | 1 | | | | 1,497 | |
Argenx SE, ADR * | | | 11 | | | | 4,325 | |
Heineken NV(1) | | | 19 | | | | 1,928 | |
| | | | | | | | |
| | | | | | | 7,750 | |
| | | | | | | | |
|
Russia - 0.0% | |
MMC Norilsk Nickel PJSC, ADR *(1)(3)(4) | | | 136 | | | | — | |
Sberbank of Russia PJSC(1)(3)(4) | | | 1,137 | | | | — | |
| | | | | | | | |
| | | | | | | — | |
| | | | | | | | |
|
Singapore - 2.1% | |
DBS Group Holdings Ltd.(1) | | | 84 | | | | 1,953 | |
United Overseas Bank Ltd.(1) | | | 103 | | | | 2,126 | |
| | | | | | | | |
| | | | | | | 4,079 | |
| | | | | | | | |
|
Switzerland - 6.6% | |
Cie Financiere Richemont SA(1) | | | 21 | | | | 3,622 | |
Lonza Group AG(1) | | | 1 | | | | 505 | |
UBS Group AG(1) | | | 421 | | | | 8,571 | |
| | | | | | | | |
| | | | | | | 12,698 | |
| | | | | | | | |
|
Taiwan - 2.7% | |
Taiwan Semiconductor Manufacturing Co. Ltd.(1) | | | 198 | | | | 3,690 | |
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | | | 15 | | | | 1,527 | |
| | | | | | | | |
| | | | | | | 5,217 | |
| | | | | | | | |
|
United Arab Emirates - 1.4% | |
Americana Restaurants International plc(1) | | | 2,326 | | | | 2,675 | |
| | | | | | | | |
|
United Kingdom - 4.6% | |
AstraZeneca plc(1) | | | 9 | | | | 1,259 | |
BAE Systems plc(1) | | | 212 | | | | 2,499 | |
Reckitt Benckiser Group plc(1) | | | 25 | | | | 1,855 | |
Unilever plc(1) | | | 63 | | | | 3,291 | |
| | | | | | | | |
| | | | | | | 8,904 | |
| | | | | | | | |
|
United States - 45.7% | |
Alphabet, Inc., Class C * | | | 34 | | | | 4,118 | |
Amazon.com, Inc. * | | | 68 | | | | 8,815 | |
ANSYS, Inc. * | | | 7 | | | | 2,332 | |
Aon plc, Class A | | | 9 | | | | 3,272 | |
Arthur J Gallagher & Co. | | | 24 | | | | 5,287 | |
Cigna Group (The) | | | 19 | | | | 5,338 | |
Experian plc(1) | | | 18 | | | | 698 | |
Ferguson plc | | | 11 | | | | 1,678 | |
Halozyme Therapeutics, Inc. * | | | 170 | | | | 6,129 | |
Interactive Brokers Group, Inc., Class A | | | 23 | | | | 1,928 | |
Intercontinental Exchange, Inc. | | | 39 | | | | 4,385 | |
Intuit, Inc. | | | 9 | | | | 4,265 | |
Kenvue, Inc. * | | | 54 | | | | 1,421 | |
Legend Biotech Corp., ADR * | | | 24 | | | | 1,643 | |
Linde plc | | | 5 | | | | 2,025 | |
Microsoft Corp. | | | 14 | | | | 4,804 | |
Natera, Inc. * | | | 77 | | | | 3,745 | |
Nestle SA(1) | | | 35 | | | | 4,257 | |
Netflix, Inc. * | | | 10 | | | | 4,605 | |
Stryker Corp. | | | 13 | | | | 3,950 | |
TJX Cos., Inc. (The) | | | 48 | | | | 4,040 | |
T-Mobile US, Inc. * | | | 20 | | | | 2,839 | |
Trane Technologies plc | | | 5 | | | | 927 | |
Visa, Inc., Class A | | | 16 | | | | 3,897 | |
Zoetis, Inc. | | | 12 | | | | 2,014 | |
| | | | | | | | |
| | | | | | | 88,412 | |
| | | | | | | | |
Total common stocks (Cost $179,092) | | | | 191,653 | |
| | | | | |
Artisan Global Equity Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | |
Total investments - 99.1% (Cost $179,092) | | | 191,653 | |
| |
Other assets less liabilities - 0.9% | | | 1,675 | |
| | | | |
| |
Total net assets - 100.0% # | | $ | 193,328 | |
| | | | |
Artisan Global Equity Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $94,218, or 48.7% of total net assets. See notes (B) and (C) in the accompanying notes. |
(2) | Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $8,545 or 4.4% of net assets. |
(3) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(4) | Security is restricted. |
| | | | | | | | | | | | | | | | |
Security | | Acquisition Date | | | Cost | | | Value | | | Percentage of Total Net Assets | |
MMC Norilsk Nickel PJSC | | | 11/09/2020 - 01/14/2022 | | | $ | 4,291 | | | $ | — | | | | 0.0 | % |
Sberbank of Russia PJSC | | | 09/16/2021 - 02/11/2022 | | | | 4,750 | | | | — | | | | 0.0 | % |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 15,219 | | | | 7.9 | % |
Consumer Discretionary | | | 25,214 | | | | 13.2 | |
Consumer Staples | | | 17,821 | | | | 9.3 | |
Financials | | | 45,811 | | | | 23.9 | |
Health Care | | | 50,313 | | | | 26.3 | |
Industrials | | | 7,159 | | | | 3.7 | |
Information Technology | | | 20,411 | | | | 10.6 | |
Materials | | | 9,705 | | | | 5.1 | |
| | | | | | | | |
Total investments | | $ | 191,653 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
AED | | $ | 2,675 | | | | 1.4 | % |
CAD | | | 2,470 | | | | 1.3 | |
CHF | | | 16,955 | | | | 8.8 | |
DKK | | | 8,997 | | | | 4.7 | |
EUR | | | 35,108 | | | | 18.3 | |
GBP | | | 9,602 | | | | 5.0 | |
HKD | | | 3,588 | | | | 1.9 | |
IDR | | | 517 | | | | 0.3 | |
JPY | | | 9,007 | | | | 4.7 | |
RUB | | | — | | | | 0.0 | |
SGD | | | 4,079 | | | | 2.1 | |
TWD | | | 3,690 | | | | 1.9 | |
USD | | | 94,965 | | | | 49.6 | |
| | | | | | | | |
Total investments | | $ | 191,653 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Global Opportunities Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 95.7% | |
|
Brazil - 1.8% | |
NU Holdings Ltd., Class A * | | | 6,610 | | | $ | 52,152 | |
| | | | | | | | |
|
China - 1.1% | |
Tencent Holdings Ltd.(1) | | | 772 | | | | 32,841 | |
| | | | | | | | |
|
Denmark - 5.7% | |
Novo Nordisk A/S, Class B(1) | | | 731 | | | | 118,026 | |
Vestas Wind Systems A/S *(1) | | | 1,708 | | | | 45,381 | |
| | | | | | | | |
| | | | | | | 163,407 | |
| | | | | | | | |
|
Finland - 0.5% | |
Neste OYJ(1) | | | 363 | | | | 14,001 | |
| | | | | | | | |
|
Germany - 0.5% | |
BioNTech SE, ADR * | | | 133 | | | | 14,365 | |
| | | | | | | | |
|
Hong Kong - 5.3% | |
AIA Group Ltd.(1) | | | 4,780 | | | | 48,767 | |
Techtronic Industries Co. Ltd.(1) | | | 9,514 | | | | 104,106 | |
| | | | | | | | |
| | | | | | | 152,873 | |
| | | | | | | | |
|
Japan - 4.3% | |
Hoya Corp.(1) | | | 392 | | | | 46,762 | |
Keyence Corp.(1) | | | 160 | | | | 75,572 | |
| | | | | | | | |
| | | | | | | 122,334 | |
| | | | | | | | |
|
Netherlands - 2.6% | |
Adyen NV*(1)(2) | | | 23 | | | | 40,195 | |
Argenx SE, ADR * | | | 90 | | | | 35,103 | |
| | | | | | | | |
| | | | | | | 75,298 | |
| | | | | | | | |
|
Sweden - 2.1% | |
Hexagon AB, Class B(1) | | | 4,890 | | | | 60,207 | |
| | | | | | | | |
|
Switzerland - 7.9% | |
ABB Ltd.(1) | | | 848 | | | | 33,372 | |
Cie Financiere Richemont SA(1) | | | 267 | | | | 45,312 | |
Lonza Group AG(1) | | | 188 | | | | 112,207 | |
UBS Group AG(1) | | | 1,711 | | | | 34,810 | |
| | | | | | | | |
| | | | | | | 225,701 | |
| | | | | | | | |
|
United Kingdom - 7.6% | |
AstraZeneca plc(1) | | | 642 | | | | 91,918 | |
CNH Industrial NV(1) | | | 2,980 | | | | 43,077 | |
London Stock Exchange Group plc(1) | | | 792 | | | | 83,909 | |
| | | | | | | | |
| | | | | | | 218,904 | |
| | | | | | | | |
|
United States - 56.3% | |
Advanced Micro Devices, Inc. * | | | 1,109 | | | | 126,294 | |
Airbnb, Inc., Class A * | | | 351 | | | | 44,922 | |
Alphabet, Inc., Class A * | | | 585 | | | | 69,971 | |
Amazon.com, Inc. * | | | 288 | | | | 37,593 | |
Arista Networks, Inc. * | | | 253 | | | | 41,016 | |
Atlassian Corp., Class A * | | | 488 | | | | 81,809 | |
Boston Scientific Corp. * | | | 2,398 | | | | 129,694 | |
Charles Schwab Corp. (The) | | | 249 | | | | 14,115 | |
Chipotle Mexican Grill, Inc. * | | | 38 | | | | 81,725 | |
CoStar Group, Inc. * | | | 392 | | | | 34,847 | |
Danaher Corp. | | | 261 | | | | 62,624 | |
Ingersoll Rand, Inc. | | | 940 | | | | 61,447 | |
Intuit, Inc. | | | 181 | | | | 83,130 | |
Linde plc | | | 144 | | | | 55,034 | |
Lowe’s Cos., Inc. | | | 142 | | | | 32,003 | |
Lululemon Athletica, Inc. * | | | 124 | | | | 47,062 | |
Microsoft Corp. | | | 89 | | | | 30,269 | |
Netflix, Inc. * | | | 165 | | | | 72,578 | |
NextEra Energy, Inc. | | | 1,013 | | | | 75,157 | |
ON Semiconductor Corp. * | | | 965 | | | | 91,277 | |
Progressive Corp. (The) | | | 289 | | | | 38,189 | |
S&P Global, Inc. | | | 147 | | | | 58,936 | |
Veeva Systems, Inc., Class A * | | | 870 | | | | 172,047 | |
Vertex Pharmaceuticals, Inc. * | | | 87 | | | | 30,514 | |
Workday, Inc., Class A * | | | 155 | | | | 35,046 | |
Zscaler, Inc. * | | | 94 | | | | 13,684 | |
| | | | | | | | |
| | | | | | | 1,620,983 | |
| | | | | | | | |
| |
Total common stocks (Cost $1,786,300) | | | | 2,753,066 | |
| | | | | |
|
SHORT-TERM INVESTMENT - 3.1% | |
|
INVESTMENT COMPANY - 3.1% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $89,263) | | | 89,263 | | | | 89,263 | |
| | | | | | | | |
| |
Total investments - 98.8% (Cost $1,875,563) | | | | 2,842,329 | |
| |
Other assets less liabilities - 1.2% | | | | 34,651 | |
| | | | | |
| |
Total net assets - 100.0% # | | | $ | 2,876,980 | |
| | | | | |
Artisan Global Opportunities Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $1,030,463, or 35.8% of total net assets. See notes (B) and (C) in the accompanying notes. |
(2) | Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $40,195 or 1.4% of net assets. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 175,390 | | | | 6.2 | % |
Consumer Discretionary | | | 288,617 | | �� | | 10.2 | |
Energy | | | 14,001 | | | | 0.5 | |
Financials | | | 371,073 | | | | 13.1 | |
Health Care | | | 813,260 | | | | 28.6 | |
Industrials | | | 322,230 | | | | 11.3 | |
Information Technology | | | 638,304 | | | | 22.5 | |
Materials | | | 55,034 | | | | 1.9 | |
Utilities | | | 75,157 | | | | 2.6 | |
Short-Term Investment | | | 89,263 | | | | 3.1 | |
| | | | | | | | |
Total investments | | $ | 2,842,329 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
CHF | | $ | 225,701 | | | | 7.9 | % |
DKK | | | 163,407 | | | | 5.8 | |
EUR | | | 97,273 | | | | 3.4 | |
GBP | | | 175,827 | | | | 6.2 | |
HKD | | | 185,714 | | | | 6.5 | |
JPY | | | 122,334 | | | | 4.3 | |
SEK | | | 60,207 | | | | 2.1 | |
USD | | | 1,811,866 | | | | 63.8 | |
| | | | | | | | |
Total investments | | $ | 2,842,329 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Global Unconstrained Fund
Consolidated Schedule of Investments
June 30, 2023 (Unaudited)
Principal amount, shares and values in thousands and reported in USD unless otherwise stated
| | | | | | | | |
| | Principal Amount | | | Value | |
SOVEREIGN GOVERNMENT BONDS - 58.1% | | | | | | | | |
| | |
Albania - 1.6% | | | | | | | | |
Republic of Albania 5.90%, 6/9/2028(1) | | EUR | 410 | | | $ | 437 | |
| | | | | | | | |
| | |
Angola - 2.5% | | | | | | | | |
Republic of Angola | | | | | | | | |
(ICE LIBOR USD 6 Month + 7.50%), 12.77%, 7/3/2023(1)(2) | | $ | 150 | | | | 150 | |
6.93%, 2/19/2027(1) | | | 91 | | | | 84 | |
8.25%, 5/9/2028(1) | | | 290 | | | | 257 | |
9.13%, 11/26/2049(1) | | | 240 | | | | 185 | |
| | | | | | | | |
| | | | | | | 676 | |
| | | | | | | | |
| | |
Bahamas - 2.8% | | | | | | | | |
Commonwealth of the Bahamas 5.75%, 1/16/2024(1) | | | 760 | | | | 739 | |
| | | | | | | | |
| | |
Benin - 2.9% | | | | | | | | |
Benin Government Bond 4.88%, 1/19/2032(1) | | EUR | 920 | | | | 759 | |
| | | | | | | | |
| | |
Bolivia - 0.8% | | | | | | | | |
Plurinational State of Bolivia 5.95%, 8/22/2023(1) | | | 215 | | | | 207 | |
| | | | | | | | |
| | |
Cameroon - 4.1% | | | | | | | | |
Republic of Cameroon 9.50%, 11/19/2025(1) | | | 1,135 | | | | 1,083 | |
| | | | | | | | |
| | |
Egypt - 3.6% | | | | | | | | |
Arab Republic of Egypt | | | | | | | | |
4.75%, 4/11/2025(1) | | EUR | 660 | | | | 572 | |
7.50%, 2/16/2061(1) | | | 780 | | | | 389 | |
| | | | | | | | |
| | | | | | | 961 | |
| | | | | | | | |
| | |
Iceland - 6.4% | | | | | | | | |
Republic of Iceland 2.50%, 4/15/2024 | | ISK | 243,332 | | | | 1,696 | |
| | | | | | | | |
| | |
Indonesia - 1.9% | | | | | | | | |
Republic of Indonesia 7.13%, 6/15/2042 | | IDR | 7,300,000 | | | | 509 | |
| | | | | | | | |
| | |
Iraq - 2.8% | | | | | | | | |
Republic of Iraq 5.80%, 1/15/2028(1) | | | 813 | | | | 746 | |
| | | | | | | | |
| | |
Ivory Coast - 1.1% | | | | | | | | |
Republic of Cote d’Ivoire | | | | | | | | |
5.25%, 3/22/2030(1) | | EUR | 186 | | | | 171 | |
5.88%, 10/17/2031(1) | | EUR | 140 | | | | 128 | |
| | | | | | | | |
| | | | | | | 299 | |
| | | | | | | | |
| | |
Kenya - 2.2% | | | | | | | | |
Republic of Kenya 6.88%, 6/24/2024(1) | | | 600 | | | | 570 | |
| | | | | | | | |
| | |
Macedonia - 4.7% | | | | | | | | |
Republic of North Macedonia | | | | | | | | |
5.63%, 7/26/2023(1) | | EUR | 580 | | | | 632 | |
6.96%, 3/13/2027(1) | | EUR | 560 | | | | 623 | |
| | | | | | | | |
| | | | | | | 1,255 | |
| | | | | | | | |
| | |
Nigeria - 3.0% | | | | | | | | |
Federal Republic of Nigeria | | | | | | | | |
7.63%, 11/21/2025(3) | | | 280 | | | | 268 | |
8.75%, 1/21/2031(1) | | | 420 | | | | 376 | |
8.25%, 9/28/2051(1) | | | 195 | | | | 145 | |
| | | | | | | | |
| | | | | | | 789 | |
| | | | | | | | |
| | |
Papua New Guinea - 2.1% | | | | | | | | |
Papua New Guinea Government International Bond 8.38%, 10/4/2028(1) | | | 600 | | | | 558 | |
| | | | | | | | |
| | |
Peru - 3.0% | | | | | | | | |
Bonos de la Tesoreria 6.15%, 8/12/2032 | | PEN | 3,070 | | | | 808 | |
| | | | | | | | |
| | |
Romania - 3.2% | | | | | | | | |
Romania Government Bond | | | | | | | | |
8.75%, 10/30/2028 | | RON | 170 | | | | 41 | |
3.62%, 5/26/2030(1) | | EUR | 100 | | | | 95 | |
1.75%, 7/13/2030(1) | | EUR | 500 | | | | 415 | |
Series 10Y, 8.25%, 9/29/2032 | | RON | 900 | | | | 217 | |
4.63%, 4/3/2049(1) | | EUR | 100 | | | | 84 | |
| | | | | | | | |
| | | | | | | 852 | |
| | | | | | | | |
| | |
Rwanda - 0.6% | | | | | | | | |
Republic of Rwanda 5.50%, 8/9/2031(1) | | | 200 | | | | 151 | |
| | | | | | | | |
| | |
Serbia - 6.8% | | | | | | | | |
Republic of Serbia | | | | | | | | |
1.50%, 6/26/2029(1) | | EUR | 200 | | | | 168 | |
4.50%, 8/20/2032 | | RSD | 92,000 | | | | 752 | |
2.05%, 9/23/2036(1) | | EUR | 1,330 | | | | 888 | |
| | | | | | | | |
| | | | | | | 1,808 | |
| | | | | | | | |
| | |
Tajikistan - 1.0% | | | | | | | | |
Republic of Tajikistan 7.13%, 9/14/2027(1) | | | 320 | | | | 262 | |
| | | | | | | | |
| | |
Uzbekistan - 1.0% | | | | | | | | |
Republic of Uzbekistan | | | | | | | | |
14.50%, 11/25/2023(3) | | UZS | 330,000 | | | | 29 | |
14.50%, 11/25/2023(1) | | UZS | 2,800,000 | | | | 241 | |
| | | | | | | | |
| | | | | | | 270 | |
| | | | | | | | |
| | |
Total sovereign government bonds (Cost $15,109) | | | | | | | 15,435 | |
| | | | | | | | |
| | |
CORPORATE BONDS - 16.8% | | | | | | | | |
| | |
Brazil - 1.2% | | | | | | | | |
MC Brazil Downstream Trading SARL 7.25%, 6/30/2031(1) | | | 387 | | | | 261 | |
Unigel Luxembourg SA 8.75%, 10/1/2026(1) | | | 140 | | | | 46 | |
| | | | | | | | |
| | | | | | | 307 | |
| | | | | | | | |
| | |
Colombia - 3.5% | | | | | | | | |
Aris Mining Corp. 6.88%, 8/9/2026(1) | | | 400 | | | | 293 | |
EnfraGen Energia Sur SA 5.38%, 12/30/2030(1) | | | 475 | | | | 309 | |
Artisan Global Unconstrained Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Principal amount, shares and values in thousands and reported in USD unless otherwise stated
| | | | | | | | |
Gran Tierra Energy International Holdings Ltd. 6.25%, 2/15/2025(1) | | | 379 | | | | 325 | |
| | | | | | | | |
| | | | | | | 927 | |
| | | | | | | | |
| | |
Czech Republic - 1.1% | | | | | | | | |
Energo-Pro A/S | | | | | | | | |
4.50%, 5/4/2024(1) | | EUR | 100 | | | | 107 | |
8.50%, 2/4/2027(1) | | | 200 | | | | 189 | |
| | | | | | | | |
| | | | | | | 296 | |
| | | | | | | | |
| | |
Dominican Republic - 3.5% | | | | | | | | |
Banco Central de la Republica Dominicana 13.00%, 12/5/2025(1) | | DOP | 48,200 | | | | 939 | |
| | | | | | | | |
| | |
Georgia - 0.7% | | | | | | | | |
Georgia Capital JSC 6.13%, 3/9/2024(1) | | | 200 | | | | 196 | |
| | | | | | | | |
| | |
Mexico - 0.9% | | | | | | | | |
Petroleos Mexicanos 6.95%, 1/28/2060 | | | 400 | | | | 250 | |
| | | | | | | | |
| | |
Nigeria - 1.3% | | | | | | | | |
SEPLAT Energy plc 7.75%, 4/1/2026(1) | | | 400 | | | | 333 | |
| | | | | | | | |
| | |
Peru - 3.1% | | | | | | | | |
Auna SAA 6.50%, 11/20/2025(1) | | | 400 | | | | 330 | |
Inkia Energy Ltd. 5.88%, 11/9/2027(1) | | | 505 | | | | 480 | |
| | | | | | | | |
| | | | | | | 810 | |
| | | | | | | | |
| | |
Romania - 0.8% | | | | | | | | |
Banca Transilvania SA (EURIBOR ICE Swap Rate 1 Year + 5.58%), 8.88%, 4/27/2027(1)(2) | | EUR | 200 | | | | 224 | |
| | | | | | | | |
| | |
Tanzania - 0.7% | | | | | | | | |
HTA Group Ltd. 7.00%, 12/18/2025(3) | | | 200 | | | | 189 | |
| | | | | | | | |
| | |
Total corporate bonds (Cost $4,548) | | | | | | | 4,471 | |
| | | | | | | | |
| | |
| | Shares Held | | | | |
COMMON STOCK - 1.5% | | | | | | | | |
| | |
Georgia - 1.5% | | | | | | | | |
Georgia Capital plc (Cost $364) *(4) | | | 39 | | | | 412 | |
| | | | | | | | |
| | |
EXCHANGE TRADED FUND - 0.5% | | | | | | | | |
| | |
Equity Funds - 0.5% | | | | | | | | |
SPDR S&P 500 ETF Trust (Cost $114) | | | — | ^ | | | 124 | |
| | | | | | | | |
| | |
| | No. of Contracts‡ | | | | |
OPTION PURCHASED - 0.1% | | | | | | | | |
| | |
Call Option - 0.1% | | | | | | | | |
Future Equity Index Option - 0.1% | | | | | | | | |
S&P 500 E-Mini Index 12/15/2023 at USD 3,950.00; Notional Amount: USD 1,815 | | | 8 | | | | 18 | |
| | | | | | | | |
Total Call Option | | | | | | | 18 | |
| | | | | | | | |
Total Option Purchased (Cost $59) | | | | | | | 18 | |
| | | | | | | | |
| | |
| | Principal Amount | | | | |
SHORT-TERM INVESTMENTS - 25.1% | | | | | | | | |
| | |
SOVEREIGN GOVERNMENT TREASURY BILLS - 1.5% | | | | | | | | |
Banco Central del Uruguay | | | | | | | | |
11.04%, 2/2/2024(5) | | UYU | 9,250 | | | | 231 | |
10.66%, 3/1/2024(5) | | UYU | 7,128 | | | | 177 | |
| | | | | | | | |
| | |
Total sovereign government treasury bills (Cost $394) | | | | | | | 408 | |
| | | | | | | | |
U.S. TREASURY OBLIGATIONS - 10.9% | | | | | | | | |
U.S. Treasury Bills | | | | | | | | |
4.19%, 7/18/2023(5) | | $ | 850 | | | | 848 | |
4.61%, 8/1/2023(5) | | | 2,050 | | | | 2,042 | |
| | | | | | | | |
| | |
Total U.S. treasury obligations (Cost $2,889) | | | | | | | 2,890 | |
| | | | | | | | |
| | |
REPURCHASE AGREEMENTS - 11.0% | | | | | | | | |
JPMorgan Chase Bank, N.A., Dated 5/3/23, with an interest rate of 3.25% payable by the Portfolio, collateralized by Par 560 Republic of Senegal, 6.25% due 5/23/2033 and a market value of $473(6) | | | 457 | | | | 457 | |
JPMorgan Chase Bank, N.A., Dated 4/21/23, with an interest rate of 1.00% payable by the Portfolio, collateralized by Par 650 Republic of Turkey, 4.38% due 7/8/27 and a market value of $647(6) | | | 652 | | | | 712 | |
JPMorgan Chase Bank, N.A., Dated 5/17/23, with an interest rate of 4.00% payable by the Portfolio, collateralized by Par 740 Arab Republic of Egypt, 5.25% due 10/6/25 and a market value of $569(6) | | | 554 | | | | 554 | |
JPMorgan Chase Bank, N.A., Dated 5/3/23, with an interest rate of 4.00% payable by the Portfolio, collateralized by Par 500 Republic of Paraguay, 4.70% due 3/27/27 and a market value of $489(6) | | | 521 | | | | 521 | |
Artisan Global Unconstrained Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Principal amount, shares and values in thousands and reported in USD unless otherwise stated
| | | | | | | | |
JPMorgan Chase Bank, N.A., Dated 5/3/23, with an interest rate of 4.50% payable by the Portfolio, collateralized by Par 260 Petroleos Mexicanos, 6.88% due 10/16/25 and a market value of $250(6) | | | 264 | | | | 264 | |
Merrill Lynch Pierce Fenner & Smith, Inc., Dated 4/5/23, with an interest rate of 3.25% payable by the Portfolio, collateralized by Par 400 Republic of Guatemala, 6.13% due 6/1/50 and a market value of $366(6) | | | 200 | | | | 200 | |
Merrill Lynch Pierce Fenner & Smith, Inc., Dated 2/2/23, with an interest rate of 2.75% payable by the Portfolio, collateralized by Par 400 Republic of Guatemala, 6.13% due 6/1/50 and a market value of $366(6) | | | 208 | | | | 208 | |
| | | | | | | | |
| | |
Total repurchase agreements (Cost $2,921) | | | | | | | 2,916 | |
| | | | | | | | |
| | |
| | Shares Held | | | | |
INVESTMENT COMPANIES - 1.7% | | | | | | | | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% | | | 151 | | | | 151 | |
Federated Treasury Obligations Fund - Institutional Class, 4.96% | | | 147 | | | | 147 | |
Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 5.03% | | | 146 | | | | 146 | |
| | | | | | | | |
| | |
Total investment companies (Cost $444) | | | | | | | 444 | |
| | | | | | | | |
| | |
Total short-term investments (Cost $6,648) | | | | | | | 6,658 | |
| | | | | | | | |
| | |
Total investments - 102.1% (Cost $26,842) | | | | | | | 27,118 | |
| | | | | | | | |
| | |
SECURITIES SOLD SHORT - (11.0)% | | | | | | | | |
| | |
COMMON STOCK - (0.5)% | | | | | | | | |
| | |
United Kingdom - (0.5)% | | | | | | | | |
Ashmore Group plc (Proceeds $(139))(4) | | | (52 | ) | | | (137 | ) |
| | | | | | | | |
| | |
| | Principal Amount | | | | |
CORPORATE BOND - (0.9)% | | | | | | | | |
| | |
Mexico - (0.9)% | | | | | | | | |
Petroleos Mexicanos 6.88%, 10/16/2025(7) (Proceeds $(255)) | | $ | (260 | ) | | | (250 | ) |
| | | | | | | | |
| | |
SOVEREIGN GOVERNMENT BONDS - (9.6)% | | | | | | | | |
| | |
Egypt - (2.2)% | | | | | | | | |
Arab Republic of Egypt 5.25%, 10/6/2025(1)(7) | | | (740 | ) | | | (569 | ) |
| | |
Guatemala - (1.4)% | | | | | | | | |
Republic of Guatemala 6.13%, 6/1/2050(1)(7) | | | (400 | ) | | | (366 | ) |
| | |
Paraguay - (1.8)% | | | | | | | | |
Republic of Paraguay 4.70%, 3/27/2027(1)(7) | | | (500 | ) | | | (489 | ) |
| | |
Senegal - (1.8)% | | | | | | | | |
Republic of Senegal 6.25%, 5/23/2033(1)(7) | | | (560 | ) | | | (473 | ) |
| | |
Turkey - (2.4)% | | | | | | | | |
Republic of Turkey 4.38%, 7/8/2027(7) | | EUR | (650 | ) | | | (647 | ) |
| | | | | | | | |
| | |
Total sovereign government bonds (Proceeds $(2,540)) | | | | | | | (2,544 | ) |
| | | | | | | | |
| | |
Total securities sold short (Proceeds $(2,934)) | | | | | | | (2,931 | ) |
| | | | | | | | |
| | |
Total investments after securities sold short - 91.1% (Cost $23,908) | | | | | | | 24,187 | |
| | |
Other assets less liabilities - 8.9% | | | | | | | 2,364 | |
| | | | | | | | |
| | |
Total net assets - 100.0% # | | | | | | $ | 26,551 | |
| | | | | | | | |
Artisan Global Unconstrained Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $13,250 or 49.9% of net assets. |
(2) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2023. |
(3) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(4) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $275, or 1.0% of total net assets. See notes (B) and (C) in the accompanying notes. |
(6) | Open repurchase agreement with no specific maturity date. Either party may terminate the agreement upon demand. |
(7) | At June 30, 2023, all or a portion of this security was pledged to cover collateral requirements for repurchase agreements. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Energy | | $ | 1,465 | | | | 5.4 | % |
Financials | | | 1,789 | | | | 6.6 | |
Foreign Government Securities | | | 15,435 | | | | 56.9 | |
Health Care | | | 330 | | | | 1.2 | |
Industrials | | | 189 | | | | 0.7 | |
Investment Funds | | | 124 | | | | 0.5 | |
Materials | | | 339 | | | | 1.2 | |
Utilities | | | 789 | | | | 2.9 | |
Short-Term Investments | | | 6,658 | | | | 24.6 | |
| | | | | | | | |
Total investments | | $ | 27,118 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
DOP | | $ | 939 | | | | 3.5 | % |
EUR | | | 6,015 | | | | 22.2 | |
GBP | | | 412 | | | | 1.5 | |
IDR | | | 509 | | | | 1.9 | |
ISK | | | 1,696 | | | | 6.2 | |
PEN | | | 808 | | | | 3.0 | |
RON | | | 258 | | | | 0.9 | |
RSD | | | 752 | | | | 2.8 | |
USD | | | 15,051 | | | | 55.5 | |
UYU | | | 408 | | | | 1.5 | |
UZS | | | 270 | | | | 1.0 | |
| | | | | | | | |
Total investments | | $ | 27,118 | | | | 100.0 | % |
| | | | | | | | |
Artisan Global Unconstrained Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
FOREIGN CURRENCY FORWARD CONTRACTS
Values in thousands
| | | | | | | | | | | | | | | | | | | | |
Currency Purchased | | Currency Sold | | | Counterparty | | Settlement Date | | | Unrealized Appreciation (Depreciation) | |
EUR | | 1,237 | | | HUF | | | | 459,331 | | | SCB | | | 7/3/2023 | | | $ | 4 | |
HUF | | 459,331 | | | EUR | | | | 1,170 | | | SCB | | | 7/3/2023 | | | | 68 | |
KZT** | | 402,410 | | | USD | | | | 890 | | | SCB | | | 7/3/2023 | | | | 2 | |
USD | | 200 | | | NGN | | | | 105,000 | | | SCB | | | 7/5/2023 | | | | 63 | |
PLN | | 1,200 | | | EUR | | | | 270 | | | SCB | | | 7/10/2023 | | | | — ^ | |
RON | | 871 | | | USD | | | | 191 | | | JPM | | | 7/10/2023 | | | | 1 | |
USD | | 438 | | | RON | | | | 1,953 | | | JPM | | | 7/10/2023 | | | | 8 | |
USD | | 1,112 | | | ZAR | | | | 20,338 | | | JPM | | | 7/10/2023 | | | | 32 | |
UZS** | | 10,850,000 | | | USD | | | | 930 | | | CITI | | | 7/17/2023 | | | | 11 | |
UZS** | | 2,450,000 | | | USD | | | | 207 | | | CITI | | | 7/17/2023 | | | | 6 | |
USD | | 160 | | | KES | ** | | | 21,600 | | | SCB | | | 7/20/2023 | | | | 6 | |
CZK | | 8,325 | | | EUR | | | | 349 | | | SCB | | | 7/24/2023 | | | | 1 | |
KZT** | | 402,410 | | | USD | | | | 878 | | | CITI | | | 7/31/2023 | | | | 8 | |
USD | | 486 | | | ZAR | | | | 8,913 | | | JPM | | | 8/8/2023 | | | | 14 | |
ZAR | | 8,798 | | | USD | | | | 464 | | | JPM | | | 8/8/2023 | | | | 2 | |
USD | | 125 | | | IDR | ** | | | 1,870,335 | | | JPM | | | 8/22/2023 | | | | 1 | |
EUR | | 722 | | | USD | | | | 790 | | | SCB | | | 9/20/2023 | | | | — ^ | |
USD | | 9,096 | | | EUR | | | | 8,297 | | | SCB | | | 9/20/2023 | | | | 7 | |
UZS** | | 2,450,000 | | | USD | | | | 201 | | | CITI | | | 10/17/2023 | | | | 9 | |
UZS** | | 2,971,581 | | | USD | | | | 253 | | | CITI | | | 11/2/2023 | | | | 1 | |
UGX** | | 1,260,000 | | | USD | | | | 316 | | | SCB | | | 6/18/2024 | | | | 10 | |
| | | | | | | | | | | | | | | | | | | | |
Total unrealized appreciation | | | | | | | 254 | |
| | | | | | | | |
USD | | 885 | | | KZT | ** | | | 402,410 | | | CITI | | | 7/3/2023 | | | | (8 | ) |
NGN | | 105,000 | | | USD | | | | 203 | | | SCB | | | 7/5/2023 | | | | (66 | ) |
USD | | 197 | | | PEN | ** | | | 729 | | | JPM | | | 7/11/2023 | | | | (3 | ) |
KZT** | | 200,000 | | | USD | | | | 445 | | | CITI | | | 7/18/2023 | | | | (3 | ) |
KES** | | 46,000 | | | USD | | | | 354 | | | JPM | | | 7/20/2023 | | | | (28 | ) |
USD | | 166 | | | KES | ** | | | 24,400 | | | JPM | | | 7/20/2023 | | | | (7 | ) |
CZK | | 3,320 | | | EUR | | | | 140 | | | SCB | | | 7/24/2023 | | | | — ^ | |
USD | | 237 | | | MYR | ** | | | 1,110 | | | GS | | | 7/31/2023 | | | | (3 | ) |
HUF | | 459,331 | | | EUR | | | | 1,225 | | | SCB | | | 8/3/2023 | | | | (4 | ) |
USD | | 94 | | | EUR | | | | 86 | | | SCB | | | 9/20/2023 | | | | — ^ | |
USD | | 445 | | | UZS | ** | | | 5,300,000 | | | CITI | | | 10/17/2023 | | | | (10 | ) |
KES** | | 42,000 | | | USD | | | | 308 | | | SCB | | | 12/6/2023 | | | | (20 | ) |
USD | | 268 | | | KES | ** | | | 42,000 | | | SCB | | | 12/6/2023 | | | | (19 | ) |
USD | | 154 | | | UGX | ** | | | 700,000 | | | SCB | | | 6/18/2024 | | | | (27 | ) |
USD | | 128 | | | UGX | ** | | | 560,000 | | | SCB | | | 6/18/2024 | | | | (16 | ) |
USD | | 377 | | | GEL | ** | | | 1,050 | | | SCB | | | 6/24/2024 | | | | (4 | ) |
| | | | | | | | | | | | | | | | | | | | |
Total unrealized depreciation | | | | | | | (218 | ) |
| | | | | | | | |
Net unrealized appreciation | | | | | | $ | 36 | |
| | | | | | | | |
Artisan Global Unconstrained Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
FUTURES CONTRACTS
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | |
Description | | No. of Contracts‡ | | | Expiration Date | | | Trading Currency | | | Notional Amount | | | Notional Value | | | Unrealized Appreciation/ (Depreciation) | |
Long Positions Contracts | | | | | |
U.S. Treasury 10 Year Note | | | 3 | | | | 9/20/2023 | | | | USD | | | $ | 300 | | | $ | 337 | | | $ | (1 | ) |
U.S. Treasury Ultra Bond | | | 2 | | | | 9/20/2023 | | | | USD | | | | 200 | | | | 272 | | | | 4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | $ | 3 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Short Positions Contracts | | | | | |
Euro-Bobl | | | (28 | ) | | | 9/7/2023 | | | | EUR | | | | (2,800 | ) | | | (3,535 | ) | | | 44 | |
Euro-BTP | | | (6 | ) | | | 9/7/2023 | | | | EUR | | | | (600 | ) | | | (760 | ) | | | 1 | |
Euro-Bund | | | (11 | ) | | | 9/7/2023 | | | | EUR | | | | (1,100 | ) | | | (1,605 | ) | | | 5 | |
Euro-Schatz | | | (7 | ) | | | 9/7/2023 | | | | EUR | | | | (700 | ) | | | (801 | ) | | | 6 | |
S&P 500 E-Mini Index | | | (2 | ) | | | 9/15/2023 | | | | USD | | | | — ^ | | | | (449 | ) | | | (14 | ) |
U.S. Treasury 2 Year Note | | | (15 | ) | | | 9/29/2023 | | | | USD | | | | (3,000 | ) | | | (3,050 | ) | | | 34 | |
U.S. Treasury 5 Year Note | | | (12 | ) | | | 9/29/2023 | | | | USD | | | | (1,200 | ) | | | (1,285 | ) | | | 19 | |
U.S. Treasury 10 Year Ultra Note | | | (7 | ) | | | 9/20/2023 | | | | USD | | | | (700 | ) | | | (829 | ) | | | 6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | 101 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net unrealized appreciation | | | | | | | | | | | | | | | | | | | $ | 104 | |
| | | | | | | | | | | | | | | | | | | | | |
Artisan Global Unconstrained Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
CENTRALLY CLEARED CREDIT DEFAULT SWAPS - BUY PROTECTION
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Reference Entity | | Financing Rate (Paid) / Received by the Fund (%) | | | Frequency of Payments Made/Received | | Termination Date | | | Notional Amount | | | Upfront (Payments) Receipts | | | Unrealized Appreciation (Depreciation) | | | Value
| |
Federative Republic of Brazil | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 580 | | | | 30 | | | | (11 | ) | | | 19 | |
Hungary | | | 1.00 | | | Quarterly | | | 6/20/2027 | | | USD | 965 | | | | 33 | | | | (20 | ) | | | 13 | |
Hungary | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 300 | | | | 10 | | | | (2 | ) | | | 8 | |
Kingdom of Saudi Arabia | | | 1.00 | | | Quarterly | | | 6/20/2032 | | | USD | 1,070 | | | | (11 | ) | | | (2 | ) | | | (13 | ) |
Kingdom of Spain | | | 1.00 | | | Quarterly | | | 6/20/2032 | | | USD | 570 | | | | (11 | ) | | | 1 | | | | (10 | ) |
Malaysia | | | 1.00 | | | Quarterly | | | 12/20/2027 | | | USD | 500 | | | | (7 | ) | | | (3 | ) | | | (10 | ) |
Malaysia | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 230 | | | | (3 | ) | | | (2 | ) | | | (5 | ) |
Petrobras Global Finance BV | | | 1.00 | | | Quarterly | | | 12/20/2027 | | | USD | 390 | | | | 27 | | | | (14 | ) | | | 13 | |
Republic of Chile | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 280 | | | | (2 | ) | | | (2 | ) | | | (4 | ) |
Republic of Chile | | | 1.00 | | | Quarterly | | | 6/20/2032 | | | USD | 950 | | | | 50 | | | | (29 | ) | | | 21 | |
Republic of Colombia | | | 1.00 | | | Quarterly | | | 12/20/2027 | | | USD | 100 | | | | 7 | | | | (3 | ) | | | 4 | |
Republic of Colombia | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 100 | | | | 8 | | | | (2 | ) | | | 6 | |
Republic of Indonesia | | | 1.00 | | | Quarterly | | | 12/20/2027 | | | USD | 690 | | | | 3 | | | | (9 | ) | | | (6 | ) |
Republic of Indonesia | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 340 | | | | (1 | ) | | | (1 | ) | | | (2 | ) |
Republic of Kazakhstan | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 1,130 | | | | 36 | | | | (16 | ) | | | 20 | |
Republic of Peru | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 280 | | | | (1 | ) | | | (2 | ) | | | (3 | ) |
Republic of Peru | | | 1.00 | | | Quarterly | | | 6/20/2032 | | | USD | 300 | | | | 14 | | | | (7 | ) | | | 7 | |
Republic of Peru | | | 1.00 | | | Quarterly | | | 12/20/2032 | | | USD | 660 | | | | 40 | | | | (22 | ) | | | 18 | |
Republic of Poland | | | 1.00 | | | Quarterly | | | 6/20/2027 | | | USD | 325 | | | | 2 | | | | (7 | ) | | | (5 | ) |
Republic of Poland | | | 1.00 | | | Quarterly | | | 12/20/2027 | | | USD | 160 | | | | 4 | | | | (6 | ) | | | (2 | ) |
Republic of Poland | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 270 | | | | — ^ | | | | (3 | ) | | | (3 | ) |
Republic of South Africa | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 600 | | | | 44 | | | | (2 | ) | | | 42 | |
Republic of South Africa | | | 1.00 | | | Quarterly | | | 6/20/2032 | | | USD | 765 | | | | 101 | | | | 22 | | | | 123 | |
Republic of South Africa | | | 1.00 | | | Quarterly | | | 12/20/2032 | | | USD | 220 | | | | 35 | | | | 2 | | | | 37 | |
Republic of Turkey | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 1,110 | | | | 191 | | | | (24 | ) | | | 167 | |
State of Qatar | | | 1.00 | | | Quarterly | | | 12/20/2032 | | | USD | 200 | | | | (4 | ) | | | (1 | ) | | | (5 | ) |
United Mexican States | | | 1.00 | | | Quarterly | | | 12/20/2027 | | | USD | 175 | | | | 2 | | | | (3 | ) | | | (1 | ) |
United Mexican States | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 690 | | | | 5 | | | | (4 | ) | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Buy Protection | | | | | | | | 602 | | | | (172 | ) | | | 430 | |
| | | | | | | | | | | | | | | | | |
Artisan Global Unconstrained Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
CENTRALLY CLEARED CREDIT DEFAULT SWAPS - SELL PROTECTION
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Reference Entity | | Financing Rate (Paid) / Received by the Fund (%) | | | Frequency of Payments Made/Received | | Termination Date | | | Notional Amount | | | Upfront (Payments) Receipts | | | Unrealized Appreciation (Depreciation) | | | Value | |
Emirate of Abu Dhabi | | | 1.00 | | | Quarterly | | | 6/20/2027 | | | USD | 290 | | | | 6 | | | | 2 | | | | 8 | |
Emirate of Abu Dhabi | | | 1.00 | | | Quarterly | | | 6/20/2028 | | | USD | 125 | | | | 3 | | | | — ^ | | | | 3 | |
Hungary | | | 1.00 | | | Quarterly | | | 12/20/2023 | | | USD | 310 | | | | (1 | ) | | | 2 | | | | 1 | |
Republic of Colombia | | | 1.00 | | | Quarterly | | | 12/20/2023 | | | USD | 310 | | | | (1 | ) | | | 2 | | | | 1 | |
Republic of South Africa | | | 1.00 | | | Quarterly | | | 6/20/2024 | | | USD | 40 | | | | — ^ | | | | — ^ | | | | — ^ | |
Republic of Turkey | | | 1.00 | | | Quarterly | | | 6/20/2024 | | | USD | 800 | | | | (30 | ) | | | 14 | | | | (16 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Sell Protection | | | | | | | | (23 | ) | | | 20 | | | | (3 | ) |
| | | | | | | | | | | | | | | | | |
CENTRALLY CLEARED INTEREST RATE SWAPS
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Floating Rate Index (Frequency) | | Fixed Rate (%) (Frequency) | | | Fund Pays/ Receives Floating Rate | | | Termination Date | | | Notional Amount | | | Upfront Payments (Receipts) ($) | | | Unrealized Appreciation (Depreciation) ($) | | | Value ($) | |
3 month BA semi-annually | | | 3.66 semi-annually | | | | Receive | | | | 5/18/2033 | | | CAD | 610 | | | | — | | | | 6 | | | | 6 | |
6 month BUBOR semi-annually | | | 7.25 annually | | | | Receive | | | | 5/13/2032 | | | HUF | 8,300 | | | | — | | | | — ^ | | | | — ^ | |
6 month PRIBOR semi-annually | | | 3.86 annually | | | | Receive | | | | 4/4/2032 | | | CZK | 2,710 | | | | — | | | | 4 | | | | 4 | |
4 week TIIE monthly | | | 8.72 monthly | | | | Pay | | | | 9/1/2032 | | | MXN | 7,210 | | | | 1 | | | | 15 | | | | 16 | |
1 day THOR quarterly | | | 2.59 quarterly | | | | Receive | | | | 9/1/2032 | | | THB | 7,450 | | | | (1 | ) | | | 2 | | | | 1 | |
1 day CDI at termination | | | 10.94 at termination | | | | Pay | | | | 1/2/2026 | | | BRL | 2,700 | | | | 1 | | | | 9 | | | | 10 | |
1 day CLICP semi-annually | | | 5.16 semi-annually | | | | Receive | | | | 4/27/2033 | | | CLP | 400,000 | | | | — | | | | 2 | | | | 2 | |
1 day CLICP semi-annually | | | 7.86 semi-annually | | | | Pay | | | | 4/27/2025 | | | CLP | 1,710,000 | | | | — | | | | 26 | | | | 26 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total unrealized appreciation | | | | | | | | | | | | | | | | 1 | | | | 64 | | | | 65 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
4 week TIIE monthly | | | 9.87 monthly | | | | Pay | | | | 3/21/2025 | | | MXN | 47,010 | | | | (6 | ) | | | (3 | ) | | | (9 | ) |
3 month BA semi-annually | | | 4.68 semi-annually | | | | Pay | | | | 5/18/2025 | | | CAD | 2,740 | | | | — | | | | (19 | ) | | | (19 | ) |
3 month BA semi-annually | | | 4.99 semi-annually | | | | Pay | | | | 6/13/2025 | | | CAD | 970 | | | | — | | | | (2 | ) | | | (2 | ) |
3 month BA semi-annually | | | 3.83 semi-annually | | | | Receive | | | | 6/13/2033 | | | CAD | 170 | | | | — | | | | — ^ | | | | — ^ | |
6 month WIBOR semi-annually | | | 5.30 annually | | | | Receive | | | | 4/15/2032 | | | PLN | 1,086 | | | | — ^ | | | | (4 | ) | | | (4 | ) |
6 month WIBOR semi-annually | | | 6.45 annually | | | | Receive | | | | 5/13/2032 | | | PLN | 225 | | | | — | | | | (6 | ) | | | (6 | ) |
6 month BUBOR semi-annually | | | 8.16 annually | | | | Receive | | | | 6/17/2032 | | | HUF | 159,000 | | | | 12 | | | | (44 | ) | | | (32 | ) |
Artisan Global Unconstrained Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Floating Rate Index (Frequency) | | Fixed Rate (%) (Frequency) | | | Fund Pays/ Receives Floating Rate | | | Termination Date | | | Notional Amount | | | Upfront Payments (Receipts) ($) | | | Unrealized Appreciation (Depreciation) ($) | | | Value ($) | |
6 month PRIBOR semi-annually | | | 5.75 annually | | | | Receive | | | | 6/17/2032 | | | CZK | 2,360 | | | | (2 | ) | | | (11 | ) | | | (13 | ) |
6 month WIBOR semi-annually | | | 7.45 annually | | | | Receive | | | | 6/20/2032 | | | PLN | 350 | | | | (1 | ) | | | (14 | ) | | | (15 | ) |
6 month PRIBOR semi-annually | | | 4.99 annually | | | | Receive | | | | 5/13/2032 | | | CZK | 6,600 | | | | (8 | ) | | | (10 | ) | | | (18 | ) |
1 day THOR quarterly | | | 2.99 quarterly | | | | Receive | | | | 9/26/2032 | | | THB | 5,300 | | | | — | | | | (4 | ) | | | (4 | ) |
1 day THOR quarterly | | | 2.89 quarterly | | | | Receive | | | | 6/17/2032 | | | THB | 2,750 | | | | — | | | | (2 | ) | | | (2 | ) |
1 day MIBOR semi-annually | | | 6.19 semi-annually | | | | Pay | | | | 5/26/2033 | | | INR | 45,100 | | | | — | | | | (9 | ) | | | (9 | ) |
1 day TONAR annually | | | 0.92 annually | | | | Receive | | | | 1/5/2033 | | | JPY | 122,900 | | | | (12 | ) | | | (22 | ) | | | (34 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total unrealized depreciation | | | | | | | | | | | | | | | | (17 | ) | | | (150 | ) | | | (167 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | |
Total | | | | | | | | (16 | ) | | | (86 | ) | | | (102 | ) |
| | | | | | | | | | | | | | | | | |
OTC CREDIT DEFAULT SWAP - SELL PROTECTION
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Reference Entity | | Financing Rate (Paid) / Received by the Fund (%) | | | Frequency of Payments Made/Received | | | Counterparty | | | Termination Date | | | Notional Amount | | | Upfront (Payments) Receipts | | | Unrealized Appreciation (Depreciation) | | | Value | |
Republic of South Africa | | | 1.00 | | | | Quarterly | | | | CITI | | | | 6/20/2024 | | | USD | 340 | | | | — ^ | | | | — ^ | | | | — ^ | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total | | | | | | | | | | | | | | | | | | | | | | | — ^ | | | | — ^ | | | | — ^ | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
OTC CREDIT DEFAULT SWAPS - BUY PROTECTION
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Reference Entity | | Financing Rate (Paid) / Received by the Fund (%) | | | Frequency of Payments Made/Received | | Counterparty | | | Termination Date | | | Notional Amount | | | Upfront (Payments) Receipts | | | Unrealized Appreciation (Depreciation) | | | Value | |
Kingdom of Saudi Arabia | | | 1.00 | | | Quarterly | | | GS | | | | 6/20/2033 | | | USD | 440 | | | | (2 | ) | | | (2 | ) | | | (4 | ) |
Kingdom of Spain | | | 1.00 | | | Quarterly | | | GS | | | | 6/20/2033 | | | USD | 270 | | | | (4 | ) | | | — | | | | (4 | ) |
Republic of South Africa | | | 1.00 | | | Quarterly | | | GS | | | | 6/20/2033 | | | USD | 450 | | | | 85 | | | | (6 | ) | | | 79 | |
Republic of South Africa | | | 1.00 | | | Quarterly | | | JPM | | | | 6/20/2033 | | | USD | 110 | | | | 21 | | | | (2 | ) | | | 19 | |
State of Qatar | | | 1.00 | | | Quarterly | | | GS | | | | 6/20/2033 | | | USD | 100 | | | | (2 | ) | | | (1 | ) | | | (3 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total | | | | | | | | | | | | | | | | | | | | | 98 | | | | (11 | ) | | | 87 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Artisan Global Unconstrained Fund
Consolidated Schedule of Investments (continued)
June 30, 2023 (Unaudited)
OTC INTEREST RATE SWAP
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Floating Rate Index (Frequency) | | Fixed Rate (%) (Frequency) | | | Fund Pays/ Receives Floating Rate | | | Counterparty | | Termination Date | | | Notional Amount | | | Upfront Payments (Receipts) | | | Unrealized Appreciation (Depreciation) | | | Value | |
3 month KLIBOR quarterly | | | 3.78 quarterly | | | | Receive | | | GS | | | 3/14/2033 | | | MYR | 1,450 | | | | 3 | | | | — ^ | | | | 3 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total | | | | | | | | | | | 3 | | | | — ^ | | | | 3 | |
| | | | | | | | | | | | | | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Global Value Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 93.5% | |
|
Belgium - 1.3% | |
Groupe Bruxelles Lambert NV(1) | | | 345 | | | $ | 27,211 | |
| | | | | | | | |
|
Canada - 0.7% | |
Imperial Oil Ltd. | | | 301 | | | | 15,394 | |
| | | | | | | | |
|
China - 2.6% | |
Alibaba Group Holding Ltd. *(1) | | | 5,347 | | | | 55,606 | |
| | | | | | | | |
|
France - 7.6% | |
Danone SA(1) | | | 1,591 | | | | 97,508 | |
Sodexo SA(1) | | | 300 | | | | 33,029 | |
TotalEnergies SE(1) | | | 546 | | | | 31,302 | |
| | | | | | | | |
| | | | | | | 161,839 | |
| | | | | | | | |
|
Germany - 5.6% | |
Daimler Truck Holding AG(1) | | | 727 | | | | 26,170 | |
HeidelbergCement AG(1) | | | 1,138 | | | | 93,435 | |
| | | | | | | | |
| | | | | | | 119,605 | |
| | | | | | | | |
|
Japan - 1.1% | |
Nintendo Co. Ltd.(1) | | | 515 | | | | 23,404 | |
| | | | | | | | |
|
Netherlands - 7.3% | |
Heineken NV(1) | | | 311 | | | | 32,008 | |
Koninklijke Philips NV *(1) | | | 3,038 | | | | 65,754 | |
Shell plc(1) | | | 1,917 | | | | 57,087 | |
| | | | | | | | |
| | | | | | | 154,849 | |
| | | | | | | | |
|
South Korea - 5.0% | |
Samsung Electronics Co. Ltd.(1) | | | 1,949 | | | | 107,421 | |
| | | | | | | | |
|
Switzerland - 11.7% | |
Cie Financiere Richemont SA(1) | | | 327 | | | | 55,444 | |
Novartis AG(1) | | | 1,032 | | | | 104,195 | |
Swatch Group AG (The)(1) | | | 13 | | | | 3,935 | |
UBS Group AG(1) | | | 4,209 | | | | 85,630 | |
| | | | | | | | |
| | | | | | | 249,204 | |
| | | | | | | | |
|
United Kingdom - 8.4% | |
BAE Systems plc(1) | | | 4,756 | | | | 56,116 | |
Compass Group plc(1) | | | 3,207 | | | | 89,721 | |
Lloyds Banking Group plc(1) | | | 61,171 | | | | 33,912 | |
| | | | | | | | |
| | | | | | | 179,749 | |
| | | | | | | | |
|
United States - 42.2% | |
Alphabet, Inc., Class A* | | | 754 | | | | 90,213 | |
American Express Co. | | | 393 | | | | 68,539 | |
Bank of New York Mellon Corp. (The) | | | 1,786 | | | | 79,493 | |
Berkshire Hathaway, Inc., Class B* | | | 238 | | | | 81,015 | |
Charles Schwab Corp. (The) | | | 641 | | | | 36,334 | |
Citigroup, Inc. | | | 1,240 | | | | 57,112 | |
Dentsply Sirona, Inc. | | | 996 | | | | 39,858 | |
Elevance Health, Inc. | | | 196 | | | | 86,896 | |
Expedia Group, Inc.* | | | 362 | | | | 39,562 | |
Lam Research Corp. | | | 51 | | | | 32,569 | |
Marsh & McLennan Cos., Inc. | | | 311 | | | | 58,559 | |
Meta Platforms, Inc., Class A* | | | 327 | | | | 93,712 | |
Progressive Corp. (The) | | | 383 | | | | 50,725 | |
Sensata Technologies Holding plc | | | 466 | | | | 20,966 | |
Southwest Airlines Co. | | | 969 | | | | 35,074 | |
Willis Towers Watson plc | | | 129 | | | | 30,347 | |
| | | | | | | | |
| | | | | | | 900,974 | |
| | | | | | | | |
Total common stocks (Cost $1,457,864) | | | | 1,995,256 | |
| | | | | |
|
SHORT-TERM INVESTMENT - 5.1% | |
|
INVESTMENT COMPANY - 5.1% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $108,384) | | | 108,384 | | | | 108,384 | |
| | | | | | | | |
| |
Total investments - 98.6% (Cost $1,566,248) | | | | 2,103,640 | |
| |
Other assets less liabilities - 1.4% | | | | 30,328 | |
| | | | | |
| |
Total net assets - 100.0%# | | | $ | 2,133,968 | |
| | | | | |
Artisan Global Value Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $1,078,888, or 50.6% of total net assets. See notes (B) and (C) in the accompanying notes. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 207,329 | | | | 9.9 | % |
Consumer Discretionary | | | 277,297 | | | | 13.2 | |
Consumer Staples | | | 129,516 | | | | 6.1 | |
Energy | | | 103,783 | | | | 4.9 | |
Financials | | | 608,877 | | | | 28.9 | |
Health Care | | | 296,703 | | | | 14.1 | |
Industrials | | | 138,326 | | | | 6.6 | |
Information Technology | | | 139,990 | | | | 6.7 | |
Materials | | | 93,435 | | | | 4.4 | |
Short-Term Investment | | | 108,384 | | | | 5.2 | |
| | | | | | | | |
Total investments | | $ | 2,103,640 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
CAD | | $ | 15,394 | | | | 0.7 | % |
CHF | | | 249,204 | | | | 11.8 | |
EUR | | | 406,417 | | | | 19.3 | |
GBP | | | 236,836 | | | | 11.3 | |
HKD | | | 55,606 | | | | 2.7 | |
JPY | | | 23,404 | | | | 1.1 | |
KRW | | | 107,421 | | | | 5.1 | |
USD | | | 1,009,358 | | | | 48.0 | |
| | | | | | | | |
Total investments | | $ | 2,103,640 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan High Income Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Principal amount, shares and values in thousands and reported in USD unless otherwise stated
| | | | | | | | |
| | Principal Amount | | | Value | |
CORPORATE BONDS - 76.6% | | | | | | | | |
| | |
Aerospace & Defense - 0.9% | | | | | | | | |
Bombardier, Inc. | | | | | | | | |
6.00%, 2/15/2028(1)(2) | | $ | 34,907 | | | $ | 32,991 | |
7.13%, 6/15/2026(1)(2) | | | 8,689 | | | | 8,630 | |
7.88%, 4/15/2027(1)(2) | | | 21,867 | | | | 21,811 | |
TransDigm, Inc. 4.63%, 1/15/2029 | | | 1,123 | | | | 999 | |
| | | | | | | | |
| | | | | | | 64,431 | |
| | | | | | | | |
| | |
Automobile Components - 0.1% | | | | | | | | |
Patrick Industries, Inc. 4.75%, 5/1/2029(1) | | | 7,361 | | | | 6,322 | |
| | | | | | | | |
| | |
Broadline Retail - 2.2% | | | | | | | | |
Millennium Escrow Corp. 6.63%, 8/1/2026(1) | | | 9,223 | | | | 6,788 | |
Nordstrom, Inc. | | | | | | | | |
4.00%, 3/15/2027 | | | 14,636 | | | | 13,026 | |
4.25%, 8/1/2031 | | | 21,278 | | | | 16,586 | |
4.38%, 4/1/2030 | | | 48,672 | | | | 40,228 | |
5.00%, 1/15/2044 | | | 98,226 | | | | 68,217 | |
| | | | | | | | |
| | | | | | | 144,845 | |
| | | | | | | | |
| | |
Building Products - 0.7% | | | | | | | | |
Eco Material Technologies, Inc. 7.88%, 1/31/2027(1) | | | 22,571 | | | | 21,370 | |
Emerald Debt Merger Sub LLC 6.63%, 12/15/2030(1) | | | 24,407 | | | | 24,193 | |
| | | | | | | | |
| | | | | | | 45,563 | |
| | | | | | | | |
| | |
Capital Markets - 0.7% | | | | | | | | |
AG Issuer LLC 6.25%, 3/1/2028(1) | | | 46,621 | | | | 44,395 | |
| | | | | | | | |
| | |
Chemicals - 2.7% | | | | | | | | |
Consolidated Energy Finance SA 5.63%, 10/15/2028(1)(2) | | | 18,333 | | | | 15,587 | |
Iris Holding, Inc. 10.00%, 12/15/2028(1) | | | 39,938 | | | | 29,185 | |
LSF11 A5 HoldCo LLC 6.63%, 10/15/2029(1) | | | 9,167 | | | | 7,656 | |
Methanex Corp. | | | | | | | | |
5.13%, 10/15/2027(2) | | | 28,114 | | | | 26,173 | |
5.25%, 12/15/2029(2) | | | 87,023 | | | | 79,516 | |
5.65%, 12/1/2044(2) | | | 4,854 | | | | 3,962 | |
SK Invictus Intermediate II SARL 5.00%, 10/30/2029(1) | | | 33,914 | | | | 26,949 | |
| | | | | | | | |
| | | | | | | 189,028 | |
| | | | | | | | |
| | |
Commercial Services & Supplies - 1.0% | | | | | | | | |
Neptune Bidco US, Inc. 9.29%, 4/15/2029(1) | | | 75,956 | | | | 69,729 | |
| | | | | | | | |
| | |
Construction & Engineering - 0.4% | | | | | | | | |
Signature Aviation US Holdings, Inc. 4.00%, 3/1/2028(1) | | | 32,372 | | | | 29,136 | |
| | | | | | | | |
| | |
Containers & Packaging - 0.1% | | | | | | | | |
Clydesdale Acquisition Holdings, Inc. 8.75%, 4/15/2030(1) | | | 1,462 | | | | 1,291 | |
Sealed Air Corp. 5.00%, 4/15/2029(1) | | | 4,853 | | | | 4,515 | |
| | | | | | | | |
| | | | | | | 5,806 | |
| | | | | | | | |
| | |
Distributors - 0.7% | | | | | | | | |
American Builders & Contractors Supply Co., Inc. 3.88%, 11/15/2029(1) | | | 3,956 | | | | 3,377 | |
Ritchie Bros Holdings, Inc. 6.75%, 3/15/2028(1)(2) | | | 2,485 | | | | 2,505 | |
Windsor Holdings III LLC 8.50%, 6/15/2030(1) | | | 42,123 | | | | 41,926 | |
| | | | | | | | |
| | | | | | | 47,808 | |
| | | | | | | | |
| | |
Diversified REITs - 1.2% | | | | | | | | |
Global Net Lease, Inc. 3.75%, 12/15/2027(1) | | | 53,117 | | | | 38,967 | |
Necessity Retail REIT, Inc. (The) 4.50%, 9/30/2028(1) | | | 31,343 | | | | 24,111 | |
Uniti Group LP 4.75%, 4/15/2028(1) | | | 17,806 | | | | 14,777 | |
| | | | | | | | |
| | | | | | | 77,855 | |
| | | | | | | | |
| | |
Diversified Telecommunication Services - 8.7% | | | | | | | | |
Altice France Holding SA | | | | | | | | |
6.00%, 2/15/2028(1)(2) | | | 89,835 | | | | 43,794 | |
10.50%, 5/15/2027(1)(2) | | | 25,971 | | | | 15,726 | |
Altice France SA | | | | | | | | |
5.13%, 1/15/2029(1)(2) | | | 8,119 | | | | 5,788 | |
5.13%, 7/15/2029(1)(2) | | | 11,757 | | | | 8,346 | |
5.50%, 1/15/2028(1)(2) | | | 7,974 | | | | 6,021 | |
5.50%, 10/15/2029(1)(2) | | | 111,301 | | | | 79,596 | |
CCO Holdings LLC | | | | | | | | |
4.25%, 2/1/2031(1) | | | 87,053 | | | | 70,423 | |
4.25%, 1/15/2034(1) | | | 24,208 | | | | 18,296 | |
4.50%, 8/15/2030(1) | | | 81,193 | | | | 67,609 | |
4.50%, 5/1/2032 | | | 94,019 | | | | 75,070 | |
4.75%, 3/1/2030(1) | | | 31,605 | | | | 27,025 | |
Level 3 Financing, Inc. 3.75%, 7/15/2029(1) | | | 1,830 | | | | 1,102 | |
Virgin Media Finance plc 5.00%, 7/15/2030(1)(2) | | | 106,368 | | | | 84,679 | |
Virgin Media Secured Finance plc | | | | | | | | |
4.50%, 8/15/2030(1)(2) | | | 22,046 | | | | 18,482 | |
5.50%, 5/15/2029(1)(2) | | | 27,393 | | | | 24,778 | |
Zayo Group Holdings, Inc. | | | | | | | | |
4.00%, 3/1/2027(1) | | | 25,706 | | | | 18,155 | |
6.13%, 3/1/2028(1) | | | 40,256 | | | | 25,155 | |
| | | | | | | | |
| | | | | | | 590,045 | |
| | | | | | | | |
| | |
Electrical Equipment - 1.4% | | | | | | | | |
Regal Rexnord Corp. | | | | | | | | |
6.05%, 2/15/2026(1) | | | 1,768 | | | | 1,770 | |
6.05%, 4/15/2028(1) | | | 1,773 | | | | 1,760 | |
6.30%, 2/15/2030(1) | | | 45,574 | | | | 45,439 | |
6.40%, 4/15/2033(1) | | | 46,270 | | | | 46,231 | |
| | | | | | | | |
| | | | | | | 95,200 | |
| | | | | | | | |
Artisan High Income Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Principal amount, shares and values in thousands and reported in USD unless otherwise stated
| | | | | | | | |
| | |
Food Products - 0.8% | | | | | | | | |
B&G Foods, Inc. 5.25%, 9/15/2027 | | | 22,683 | | | | 19,707 | |
H-Food Holdings LLC 8.50%, 6/1/2026(1) | | | 79,712 | | | | 31,486 | |
| | | | | | | | |
| | | | | | | 51,193 | |
| | | | | | | | |
| | |
Ground Transportation - 0.1% | | | | | | | | |
PECF USS Intermediate Holding III Corp. 8.00%, 11/15/2029(1) | | | 13,431 | | | | 7,555 | |
| | | | | | | | |
| | |
Health Care Equipment & Supplies - 2.6% | | | | | | | | |
Medline Borrower LP | | | | | | | | |
3.88%, 4/1/2029(1) | | | 148,556 | | | | 129,105 | |
5.25%, 10/1/2029(1) | | | 54,157 | | | | 46,992 | |
| | | | | | | | |
| | | | | | | 176,097 | |
| | | | | | | | |
| | |
Health Care Providers & Services - 0.4% | | | | | | | | |
Fortrea Holdings, Inc. 7.50%, 7/1/2030(1) | | | 3,370 | | | | 3,451 | |
HCA, Inc. 3.50%, 9/1/2030 | | | 13,738 | | | | 12,042 | |
Surgery Center Holdings, Inc. 6.75%, 7/1/2025(1) | | | 4,677 | | | | 4,660 | |
| | | | | | | | |
| | | | | | | 20,153 | |
| | | | | | | | |
| | |
Hotel & Resort REITs - 0.4% | | | | | | | | |
XHR LP 4.88%, 6/1/2029(1) | | | 31,343 | | | | 26,877 | |
| | | | | | | | |
| | |
Hotels, Restaurants & Leisure - 13.6% | | | | | | | | |
Allwyn Entertainment Financing UK plc 7.88%, 4/30/2029(1)(2) | | | 4,509 | | | | 4,561 | |
Boyd Gaming Corp. 4.75%, 6/15/2031(1) | | | 9,979 | | | | 8,915 | |
Brinker International, Inc. 5.00%, 10/1/2024(1) | | | 25,349 | | | | 24,715 | |
Carnival Corp. | | | | | | | | |
4.00%, 8/1/2028(1) | | | 13,445 | | | | 11,919 | |
5.75%, 3/1/2027(1) | | | 120,587 | | | | 111,011 | |
6.00%, 5/1/2029(1) | | | 139,033 | | | | 124,134 | |
7.63%, 3/1/2026(1) | | | 7,882 | | | | 7,720 | |
10.50%, 6/1/2030(1) | | | 18,945 | | | | 20,098 | |
Carnival Holdings Bermuda Ltd. 10.38%, 5/1/2028(1) | | | 4,169 | | | | 4,560 | |
Jacobs Entertainment, Inc. 6.75%, 2/15/2029(1) | | | 14,245 | | | | 12,750 | |
Lindblad Expeditions Holdings, Inc. 9.00%, 5/15/2028(1) | | | 16,485 | | | | 16,726 | |
Lindblad Expeditions LLC 6.75%, 2/15/2027(1) | | | 38,037 | | | | 36,230 | |
MajorDrive Holdings IV LLC 6.38%, 6/1/2029(1) | | | 9,176 | | | | 7,286 | |
Melco Resorts Finance Ltd. 5.38%, 12/4/2029(1)(2) | | | 14,102 | | | | 11,653 | |
MGM Resorts International | | | | | | | | |
4.63%, 9/1/2026 | | | 4,556 | | | | 4,296 | |
4.75%, 10/15/2028 | | | 38,315 | | | | 34,784 | |
5.50%, 4/15/2027 | | | 2,370 | | | | 2,271 | |
Motion Bondco DAC 6.63%, 11/15/2027(1)(2) | | | 27,623 | | | | 25,287 | |
NCL Corp. Ltd. | | | | | | | | |
3.63%, 12/15/2024(1) | | | 17,414 | | | | 16,757 | |
5.88%, 3/15/2026(1) | | | 54,925 | | | | 51,386 | |
5.88%, 2/15/2027(1) | | | 6,824 | | | | 6,643 | |
7.75%, 2/15/2029(1) | | | 43,369 | | | | 41,192 | |
NCL Finance Ltd. 6.13%, 3/15/2028(1) | | | 107,230 | | | | 96,509 | |
Penn Entertainment, Inc. 4.13%, 7/1/2029(1) | | | 29,809 | | | | 24,464 | |
Royal Caribbean Cruises Ltd. | | | | | | | | |
4.25%, 7/1/2026(1) | | | 19,431 | | | | 17,837 | |
5.38%, 7/15/2027(1) | | | 8,553 | | | | 7,997 | |
5.50%, 8/31/2026(1) | | | 26,365 | | | | 24,997 | |
5.50%, 4/1/2028(1) | | | 45,565 | | | | 42,491 | |
SeaWorld Parks & Entertainment, Inc. 5.25%, 8/15/2029(1) | | | 17,618 | | | | 15,769 | |
Station Casinos LLC 4.63%, 12/1/2031(1) | | | 18,032 | | | | 15,192 | |
Studio City Finance Ltd. | | | | | | | | |
5.00%, 1/15/2029(1)(2) | | | 14,239 | | | | 10,551 | |
6.50%, 1/15/2028(1)(2) | | | 2,527 | | | | 2,110 | |
TKC Holdings, Inc. | | | | | | | | |
6.88%, 5/15/2028(1) | | | 18,184 | | | | 16,003 | |
10.50%, 5/15/2029(1) | | | 70,474 | | | | 53,560 | |
| | | | | | | | |
| | | | | | | 912,374 | |
| | | | | | | | |
| | |
Household Durables - 0.2% | | | | | | | | |
Tempur Sealy International, Inc. 3.88%, 10/15/2031(1) | | | 18,815 | | | | 15,328 | |
| | | | | | | | |
| | |
Insurance - 14.0% | | | | | | | | |
Acrisure LLC | | | | | | | | |
4.25%, 2/15/2029(1) | | | 38,045 | | | | 32,840 | |
6.00%, 8/1/2029(1) | | | 103,814 | | | | 89,884 | |
7.00%, 11/15/2025(1) | | | 92,121 | | | | 89,181 | |
10.13%, 8/1/2026(1) | | | 48,540 | | | | 49,664 | |
Alliant Holdings Intermediate LLC | | | | | | | | |
5.88%, 11/1/2029(1) | | | 20,595 | | | | 17,916 | |
6.75%, 10/15/2027(1) | | | 23,967 | | | | 22,529 | |
Ardonagh Midco 2 plc 11.50% Cash, 12.75% PIK, 1/15/2027(1)(2) | | | 143,846 | | | | 132,338 | |
AssuredPartners, Inc. | | | | | | | | |
5.63%, 1/15/2029(1) | | | 600 | | | | 519 | |
7.00%, 8/15/2025(1) | | | 25,180 | | | | 24,867 | |
BroadStreet Partners, Inc. 5.88%, 4/15/2029(1) | | | 71,268 | | | | 61,828 | |
GTCR AP Finance, Inc. 8.00%, 5/15/2027(1) | | | 58,606 | | | | 57,448 | |
Highlands Holdings Bond Issuer Ltd. 7.63% Cash, 8.38% PIK, 10/15/2025(1)(2) | | | 10,803 | | | | 9,960 | |
Jones Deslauriers Insurance Management, Inc. | | | | | | | | |
8.50%, 3/15/2030(1)(2) | | | 77,417 | | | | 78,982 | |
10.50%, 12/15/2030(1)(2) | | | 39,987 | | | | 40,110 | |
NFP Corp. | | | | | | | | |
4.88%, 8/15/2028(1) | | | 26,065 | | | | 23,281 | |
Artisan High Income Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Principal amount, shares and values in thousands and reported in USD unless otherwise stated
| | | | | | | | |
6.88%, 8/15/2028(1) | | | 230,725 | | | | 200,274 | |
Ryan Specialty Group LLC 4.38%, 2/1/2030(1) | | | 7,254 | | | | 6,421 | |
| | | | | | | | |
| | | | | | | 938,042 | |
| | | | | | | | |
| | |
IT Services - 1.9% | | | | | | | | |
Arches Buyer, Inc. 4.25%, 6/1/2028(1) | | | 144,065 | | | | 125,364 | |
| | | | | | | | |
| | |
Machinery - 2.3% | | | | | | | | |
Calderys Financing LLC 11.25%, 6/1/2028(1)(2) | | | 37,908 | | | | 38,848 | |
Chart Industries, Inc. | | | | | | | | |
7.50%, 1/1/2030(1) | | | 17,696 | | | | 18,055 | |
9.50%, 1/1/2031(1) | | | 11,556 | | | | 12,261 | |
Werner FinCo. LP 8.75% Cash, 5.75% PIK, 10/15/2028(1)(3)(5) | | | 46,856 | | | | 41,173 | |
Werner FinCo. LP 11.50%, 6/15/2028(1) | | | 50,221 | | | | 48,707 | |
| | | | | | | | |
| | | | | | | 159,044 | |
| | | | | | | | |
| | |
Media - 4.5% | | | | | | | | |
CMG Media Corp. 8.88%, 12/15/2027(1) | | | 15,947 | | | | 11,176 | |
CSC Holdings LLC | | | | | | | | |
4.50%, 11/15/2031(1) | | | 8,967 | | | | 6,252 | |
4.63%, 12/1/2030(1) | | | 103,809 | | | | 46,189 | |
5.25%, 6/1/2024 | | | 15,676 | | | | 14,579 | |
5.38%, 2/1/2028(1) | | | 6,632 | | | | 5,329 | |
6.50%, 2/1/2029(1) | | | 17,361 | | | | 14,028 | |
7.50%, 4/1/2028(1) | | | 57,856 | | | | 32,976 | |
11.25%, 5/15/2028(1) | | | 4,509 | | | | 4,373 | |
Sinclair Television Group, Inc. | | | | | | | | |
5.13%, 2/15/2027(1) | | | 49,796 | | | | 42,189 | |
5.50%, 3/1/2030(1) | | | 89,825 | | | | 51,779 | |
UPC Holding BV 5.50%, 1/15/2028(1)(2) | | | 2,960 | | | | 2,584 | |
Virgin Media Vendor Financing Notes IV DAC 5.00%, 7/15/2028(1)(2) | | | 17,967 | | | | 15,716 | |
Ziggo Bond Co. BV | | | | | | | | |
5.13%, 2/28/2030(1)(2) | | | 17,989 | | | | 13,622 | |
6.00%, 1/15/2027(1)(2) | | | 27,070 | | | | 24,845 | |
Ziggo BV 4.88%, 1/15/2030(1)(2) | | | 24,246 | | | | 20,123 | |
| | | | | | | | |
| | | | | | | 305,760 | |
| | | | | | | | |
| | |
Metals & Mining - 1.1% | | | | | | | | |
Commercial Metals Co. | | | | | | | | |
3.88%, 2/15/2031 | | | 3,702 | | | | 3,172 | |
4.13%, 1/15/2030 | | | 12,069 | | | | 10,740 | |
4.38%, 3/15/2032 | | | 9,714 | | | | 8,395 | |
Compass Minerals International, Inc. 6.75%, 12/1/2027(1) | | | 52,402 | | | | 50,521 | |
| | | | | | | | |
| | | | | | | 72,828 | |
| | | | | | | | |
| | |
Oil, Gas & Consumable Fuels - 4.1% | | | | | | | | |
Callon Petroleum Co. | | | | | | | | |
8.00%, 8/1/2028(1) | | | 100,156 | | | | 99,045 | |
8.25%, 7/15/2025 | | | 3,197 | | | | 3,173 | |
CrownRock LP 5.00%, 5/1/2029(1) | | | 27,759 | | | | 25,989 | |
MEG Energy Corp. 5.88%, 2/1/2029(1)(2) | | | 36,407 | | | | 34,238 | |
SM Energy Co. | | | | | | | | |
5.63%, 6/1/2025 | | | 8,964 | | | | 8,759 | |
6.50%, 7/15/2028 | | | 21,535 | | | | 20,674 | |
6.63%, 1/15/2027 | | | 4,218 | | | | 4,097 | |
Strathcona Resources Ltd. 6.88%, 8/1/2026(1)(2) | | | 36,563 | | | | 32,006 | |
Sunnova Energy Corp. 5.88%, 9/1/2026(1) | | | 39,151 | | | | 35,784 | |
Vital Energy, Inc. 7.75%, 7/31/2029(1) | | | 19,891 | | | | 16,410 | |
| | | | | | | | |
| | | | | | | 280,175 | |
| | | | | | | | |
| | |
Paper & Forest Products - 0.4% | | | | | | | | |
Ahlstrom Holding 3 Oy 4.88%, 2/4/2028(1)(2) | | | 31,208 | | | | 25,845 | |
| | | | | | | | |
| | |
Passenger Airlines - 3.4% | | | | | | | | |
Delta Air Lines, Inc. | | | | | | | | |
3.75%, 10/28/2029 | | | 47,512 | | | | 42,728 | |
4.38%, 4/19/2028 | | | 9,849 | | | | 9,257 | |
7.38%, 1/15/2026 | | | 37,312 | | | | 38,897 | |
VistaJet Malta Finance plc | | | | | | | | |
6.38%, 2/1/2030(1)(2) | | | 120,570 | | | | 97,087 | |
7.88%, 5/1/2027(1)(2) | | | 38,637 | | | | 34,713 | |
| | | | | | | | |
| | | | | | | 222,682 | |
| | | | | | | | |
| | |
Personal Care Products - 1.4% | | | | | | | | |
BellRing Brands, Inc. 7.00%, 3/15/2030(1) | | | 74,249 | | | | 74,713 | |
Prestige Brands, Inc. 3.75%, 4/1/2031(1) | | | 22,886 | | | | 18,947 | |
| | | | | | | | |
| | | | | | | 93,660 | |
| | | | | | | | |
| | |
Real Estate Management & Development - 0.4% | | | | | | | | |
Realogy Group LLC 5.75%, 1/15/2029(1) | | | 36,031 | | | | 26,959 | |
| | | | | | | | |
| | |
Software - 0.2% | | | | | | | | |
Castle US Holding Corp. 9.50%, 2/15/2028(1) | | | 25,953 | | | | 14,684 | |
| | | | | | | | |
| | |
Specialized REITs - 0.2% | | | | | | | | |
Iron Mountain, Inc. | | | | | | | | |
5.00%, 7/15/2028(1) | | | 2,053 | | | | 1,902 | |
5.25%, 7/15/2030(1) | | | 16,023 | | | | 14,438 | |
| | | | | | | | |
| | | | | | | 16,340 | |
| | | | | | | | |
| | |
Specialty Retail - 2.7% | | | | | | | | |
Asbury Automotive Group, Inc. 4.63%, 11/15/2029(1) | | | 26,140 | | | | 23,203 | |
Bath & Body Works, Inc. | | | | | | | | |
6.63%, 10/1/2030(1) | | | 8,990 | | | | 8,679 | |
6.75%, 7/1/2036 | | | 10,276 | | | | 9,246 | |
6.88%, 11/1/2035 | | | 25,606 | | | | 23,429 | |
Evergreen Acqco 1 LP 9.75%, 4/26/2028(1) | | | 17,739 | | | | 18,344 | |
Gap, Inc. (The) 3.63%, 10/1/2029(1) | | | 36,863 | | | | 26,047 | |
Artisan High Income Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Principal amount, shares and values in thousands and reported in USD unless otherwise stated
| | | | | | | | |
3.88%, 10/1/2031(1) | | | 25,350 | | | | 17,353 | |
Specialty Building Products Holdings LLC 6.38%, 9/30/2026(1) | | | 11,303 | | | | 10,679 | |
SRS Distribution, Inc. | | | | | | | | |
6.00%, 12/1/2029(1) | | | 51,705 | | | | 44,624 | |
6.13%, 7/1/2029(1) | | | 2,941 | | | | 2,540 | |
| | | | | | | | |
| | | | | | | 184,144 | |
| | | | | | | | |
| | |
Trading Companies & Distributors - 0.6% | | | | | | | | |
Superior Plus LP | | | | | | | | |
4.25%, 5/18/2028(1)(2) | | CAD | 6,705 | | | | 4,495 | |
4.50%, 3/15/2029(1)(2) | | | 2,125 | | | | 1,863 | |
United Rentals North America, Inc. 6.00%, 12/15/2029(1) | | | 35,753 | | | | 35,665 | |
| | | | | | | | |
| | | | | | | 42,023 | |
| | | | | | | | |
| | |
Wireless Telecommunication Services - 0.5% | | | | | | | | |
Vmed O2 UK Financing I plc 4.25%, 1/31/2031(1)(2) | | | 42,712 | | | | 34,535 | |
| | | | | | | | |
Total corporate bonds (Cost $5,764,433) | | | | | | | 5,161,825 | |
| | | | | | | | |
| | |
BANK LOANS - 15.2% | | | | | | | | |
| | |
Automobile Components - 0.6% | | | | | | | | |
Wheel Pros, Inc. First Lien Term Loan (ICE LIBOR USD 3 Month + 4.50%), 9.77%, 5/11/2028(3) | | | 64,680 | | | | 42,776 | |
| | | | | | | | |
| | |
Capital Markets - 0.2% | | | | | | | | |
Aretec Group, Inc. Term Loan (SOFR + 4.50%), 9.92%, 3/8/2030 | | | 16,166 | | | | 16,116 | |
| | | | | | | | |
| | |
Chemicals - 0.2% | | | | | | | | |
CPC Acquisition Corp. First Lien Term Loan (SOFR + 3.75%), 9.25%, 12/29/2027(3) | | | 21,058 | | | | 15,889 | |
| | | | | | | | |
| | |
Commercial Services - 2.2% | | | | | | | | |
Ankura Consulting Group LLC Second Lien Term Loan (ICE LIBOR USD 3 Month + 8.00%), 13.10%, 3/19/2029(3) | | | 17,830 | | | | 14,531 | |
Digital Room Holdings, Inc. First Lien Term Loan (SOFR + 5.25%), 10.45%, 12/21/2028(3) | | | 28,835 | | | | 25,807 | |
Employbridge Holding Co. Term Loan B | | | | | | | | |
(SOFR + 4.75%), 10.26%, 7/19/2028(3) | | | 51,690 | | | | 41,518 | |
(SOFR + 4.75%), 10.29%, 7/16/2028(3) | | | 264 | | | | 212 | |
National Intergovernmental Purchasing Alliance Co. Second Lien Term Loan (SOFR + 7.50%), 12.40%, 5/26/2026(3) | | | 7,320 | | | | 6,808 | |
New SK Holdco Sub LLC Term Loan (SOFR + 8.25%), 13.43%, 6/30/2027(3) | | | 67,027 | | | | 57,543 | |
| | | | | | | | |
| | | | | | | 146,419 | |
| | | | | | | | |
| | |
Commercial Services & Supplies - 0.3% | | | | | | | | |
Neptune BidCo US, Inc. First Lien Term Loan B (SOFR + 5.00%), 9.99%, 4/11/2029(3) | | | 24,313 | | | | 21,347 | |
| | | | | | | | |
| | |
Communications Equipment - 0.6% | | | | | | | | |
Delta Topco, Inc. Second Lien Term Loan (SOFR + 7.25%), 12.57%, 12/1/2028(3) | | | 41,516 | | | | 37,745 | |
| | | | | | | | |
| | |
Diversified Telecommunication Services - 0.3% | | | | | | | | |
Zayo Group Holdings, Inc. Term Loan (SOFR + 3.00%), 8.22%, 3/9/2027(3) | | | 22,350 | | | | 17,493 | |
| | | | | | | | |
| | |
Electrical Equipment - 0.2% | | | | | | | | |
Indicor LLC First Lien Term Loan (SOFR + 4.50%), 9.74%, 11/22/2029(3) | | | 16,159 | | | | 16,078 | |
| | | | | | | | |
| | |
Food Products - 0.5% | | | | | | | | |
H-Food Holdings LLC Term Loan (SOFR + 3.69%), 9.27%, 5/23/2025(3) | | | 29,885 | | | | 26,204 | |
H-Food Holdings LLC Term Loan B2 (SOFR + 4.00%), 9.58%, 5/23/2025(3) | | | 9,862 | | | | 8,617 | |
H-Food Holdings LLC Term Loan B3 (SOFR + 5.00%), 10.58%, 5/23/2025(3) | | | 1,517 | | | | 1,331 | |
| | | | | | | | |
| | | | | | | 36,152 | |
| | | | | | | | |
| | |
Food Service - 1.0% | | | | | | | | |
TKC Holdings, Inc. Term Loan (ICE LIBOR USD 1 Month + 5.50%), 10.69%, 5/15/2028(3) | | | 67,833 | | | | 62,930 | |
TKC Midco 1 LLC Term Loan 12.00% Cash, 13.50% PIK, 2/15/2027 | | | 19,207 | | | | 5,666 | |
| | | | | | | | |
| | | | | | | 68,596 | |
| | | | | | | | |
| | |
Health Care Equipment & Supplies - 0.2% | | | | | | | | |
Fortrea Holdings, Inc. Term Loan B (SOFR + 3.50%), 8.99%, 7/1/2030(3) | | | 4,092 | | | | 4,090 | |
GHX Ultimate Parent Corp. Term Loan (SOFR + 4.75%), 9.79%, 6/30/2027(3) | | | 8,090 | | | | 8,095 | |
| | | | | | | | |
| | | | | | | 12,185 | |
| | | | | | | | |
| | |
Health Care Providers & Services - 0.5% | | | | | | | | |
Surgery Center Holdings, Inc. Term Loan (SOFR + 3.75%), 8.90%, 8/31/2026(3) | | | 30,073 | | | | 30,015 | |
| | | | | | | | |
Artisan High Income Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Principal amount, shares and values in thousands and reported in USD unless otherwise stated
| | | | | | | | |
Hotels, Restaurants & Leisure - 0.2% | | | | | | | | |
J&J Ventures Gaming LLC Term Loan (SOFR + 4.00%), 9.54%, 4/26/2028(3) | | | $13,342 | | | | 13,180 | |
| | | | | | | | |
| | |
Insurance - 1.6% | | | | | | | | |
Amynta Agency Borrower, Inc. First Lien Term Loan (SOFR + 5.00%), 10.20%, 2/28/2028(3) | | | 101,719 | | | | 98,731 | |
Hub International Ltd. Term Loan (SOFR + 4.25%), 9.34%, 6/20/2030(3) | | | 4,130 | | | | 4,137 | |
| | | | | | | | |
| | | | | | | 102,868 | |
| | | | | | | | |
| | |
Investment Companies - 1.2% | | | | | | | | |
Nexus Buyer LLC First Lien Term Loan (SOFR + 3.75%), 8.95%, 11/9/2026(3) | | | 24,663 | | | | 23,756 | |
Nexus Buyer LLC Second Lien Term Loan (SOFR + 6.25%), 11.45%, 11/5/2029(3) | | | 62,871 | | | | 56,034 | |
| | | | | | | | |
| | | | | | | 79,790 | |
| | | | | | | | |
| | |
IT Services - 0.1% | | | | | | | | |
Arches Buyer, Inc. Term Loan (SOFR + 3.25%), 8.45%, 12/6/2027(3) | | | 8,740 | | | | 8,420 | |
| | | | | | | | |
| | |
Retail - 0.2% | | | | | | | | |
Fogo De Chao, Inc. Term Loan (SOFR + 4.25%), 9.73%, 4/7/2025(3) | | | 12,915 | | | | 12,581 | |
| | | | | | | | |
| | |
Software - 4.3% | | | | | | | | |
Applied Systems, Inc. Second Lien Term Loan (SOFR + 6.75%), 11.99%, 9/17/2027(3) | | | 15,727 | | | | 15,718 | |
Castle US Holding Corp. Term Loan (SOFR + 3.75%), 9.11%, 1/29/2027(3) | | | 4,865 | | | | 3,545 | |
CommerceHub, Inc. Second Lien Term Loan (SOFR + 7.00%), 12.22%, 12/29/2028(3) | | | 10,610 | | | | 8,148 | |
Constant Contact, Inc. Second Lien Term Loan (SOFR + 7.50%), 12.70%, 2/12/2029(3) | | | 28,018 | | | | 23,255 | |
Ivanti Software, Inc. Second Lien Term Loan (SOFR + 7.25%), 12.78%, 12/1/2028(3) | | | 6,435 | | | | 4,155 | |
Matrix Parent, Inc. First Lien Term Loan (SOFR + 5.00%), 10.39%, 3/1/2029(3) | | | 20,948 | | | | 13,721 | |
Orchid Merger Sub II LLC Term Loan (SOFR + 4.75%), 10.14%, 7/27/2027(3) | | | 23,944 | | | | 17,269 | |
Renaissance Holdings Corp. First Lien Term Loan (SOFR + 4.75%), 9.90%, 4/5/2030(3) | | | 61,606 | | | | 60,759 | |
Renaissance Holdings Corp. Second Lien Term Loan (ICE LIBOR USD 1 Month + 7.00%), 12.19%, 5/29/2026(3) | | | 36,536 | | | | 35,740 | |
UKG, Inc. Second Lien Term Loan (SOFR + 5.25%), 10.62%, 5/3/2027(3) | | | 74,902 | | | | 72,441 | |
Virgin Pulse, Inc. First Lien Term Loan (SOFR + 3.75%), 8.97%, 4/6/2028(3) | | | 34,621 | | | | 32,663 | |
| | | | | | | | |
| | | | | | | 287,414 | |
| | | | | | | | |
| | |
Telecommunications - 0.3% | | | | | | | | |
Gridiron Fiber Corp. First Lien Term Loan (SOFR + 4.50%), 9.86%, 10/4/2028(3) | | | 23,547 | | | | 22,252 | |
| | | | | | | | |
| | |
Transportation - 0.5% | | | | | | | | |
SIRVA Worldwide, Inc. First Lien Term Loan | | | | | | | | |
(SOFR + 5.50%), 10.65%, 8/4/2025(3) | | | 26,552 | | | | 23,737 | |
(SOFR + 5.50%), 10.66%, 8/4/2025(3) | | | 272 | | | | 243 | |
(SOFR + 5.50%), 10.77%, 8/4/2025(3) | | | 5,986 | | | | 5,352 | |
(SOFR + 5.50%), 10.98%. 8/4/2025(3) | | | 4,728 | | | | 4,227 | |
| | | | | | | | |
| | | | | | | 33,559 | |
| | | | | | | | |
| | |
Total bank loans (Cost $1,126,099) | | | | | | | 1,020,875 | |
| | | | | | | | |
| | |
| | Shares Held | | | | |
COMMON STOCK - 0.3% | | | | | | | | |
| | |
Machinery - 0.3% | | | | | | | | |
Utex Equity (Cost $10,178)*(4)(5) | | | 364 | | | | 23,415 | |
| | | | | | | | |
| | |
| | No. of Warrants‡ | | | | |
WARRANT - 0.0% | | | | | | | | |
| | |
Financial Services - 0.0% | | | | | | | | |
Carnelian Point Holdings LP, expiring 6/30/2027, strike price 10 (Cost $—)*(4)(5) | | | 71 | | | | — | |
| | | | | | | | |
| | |
| | Shares Held | | | | |
SHORT-TERM INVESTMENT - 6.9% | | | | | | | | |
| | |
INVESTMENT COMPANY - 6.9% | | | | | | | | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $462,057) | | | 462,057 | | | | 462,057 | |
| | | | | | | | |
| | |
Total investments - 99.0% (Cost $7,362,767) | | | | | | | 6,668,172 | |
| | |
Other assets less liabilities - 1.0% | | | | | | | 65,966 | |
| | | | | | | | |
| | |
Total net assets - 100.0% # | | | | | | $ | 6,734,138 | |
| | | | | | | | |
Artisan High Income Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(2) | The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications. |
| | | | |
Security | | Country | | Trading Currency |
Ahlstrom Holding 3 Oy, 4.88%, 2/4/2028 | | Finland | | USD |
Allwyn Entertainment Financing UK plc, 7.88%, 4/30/2029 | | Czech Republic | | USD |
Altice France Holding SA, 6.00%, 2/15/2028 | | Luxembourg | | USD |
Altice France Holding SA, 10.50%, 5/15/2027 | | Luxembourg | | USD |
Altice France SA, 5.13%, 1/15/2029 | | France | | USD |
Altice France SA, 5.13%, 7/15/2029 | | France | | USD |
Altice France SA, 5.50%, 1/15/2028 | | France | | USD |
Altice France SA, 5.50%, 10/15/2029 | | France | | USD |
Ardonagh Midco 2 plc, 11.50%, 1/15/2027 | | United Kingdom | | USD |
Bombardier, Inc., 6.00%, 2/15/2028 | | Canada | | USD |
Bombardier, Inc., 7.13%, 6/15/2026 | | Canada | | USD |
Bombardier, Inc., 7.88%, 4/15/2027 | | Canada | | USD |
Calderys Financing LLC, 11.25%, 6/1/2028 | | France | | USD |
Consolidated Energy Finance SA, 5.63%, 10/15/2028 | | Switzerland | | USD |
Highlands Holdings Bond Issuer Ltd., 7.63%, 10/15/2025 | | Bermuda | | USD |
Jones Deslauriers Insurance Management, Inc., 8.50%, 3/15/2030 | | Canada | | USD |
Jones Deslauriers Insurance Management, Inc., 10.50%, 12/15/2030 | | Canada | | USD |
MEG Energy Corp., 5.88%, 2/1/2029 | | Canada | | USD |
Melco Resorts Finance Ltd., 5.38%, 12/4/2029 | | Hong Kong | | USD |
Methanex Corp., 5.13%, 10/15/2027 | | Canada | | USD |
Methanex Corp., 5.25%, 12/15/2029 | | Canada | | USD |
Methanex Corp., 5.65%, 12/1/2044 | | Canada | | USD |
Motion Bondco DAC, 6.63%, 11/15/2027 | | United Kingdom | | USD |
Ritchie Bros Holdings, Inc., 6.75%, 3/15/2028 | | Canada | | USD |
Strathcona Resources Ltd., 6.88%, 8/1/2026 | | Canada | | USD |
Studio City Finance Ltd., 5.00%, 1/15/2029 | | Macau | | USD |
Studio City Finance Ltd., 6.50%, 1/15/2028 | | Macau | | USD |
Superior Plus LP, 4.25%, 5/18/2028 | | Canada | | CAD |
Superior Plus LP, 4.50%, 3/15/2029 | | Canada | | USD |
UPC Holding BV, 5.50%, 1/15/2028 | | Netherlands | | USD |
Virgin Media Finance plc, 5.00%, 7/15/2030 | | United Kingdom | | USD |
Virgin Media Secured Finance plc, 4.50%, 8/15/2030 | | United Kingdom | | USD |
Virgin Media Secured Finance plc, 5.50%, 5/15/2029 | | United Kingdom | | USD |
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 7/15/2028 | | United Kingdom | | USD |
VistaJet Malta Finance plc, 6.38%, 2/1/2030 | | Switzerland | | USD |
VistaJet Malta Finance plc, 7.88%, 5/1/2027 | | Switzerland | | USD |
Vmed O2 UK Financing I plc, 4.25%, 1/31/2031 | | United Kingdom | | USD |
Ziggo Bond Co. BV, 5.13%, 2/28/2030 | | Netherlands | | USD |
Ziggo Bond Co. BV, 6.00%, 1/15/2027 | | Netherlands | | USD |
Ziggo BV, 4.88%, 1/15/2030 | | Netherlands | | USD |
(3) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2023. |
(4) | Defaulted securities. |
(5) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $64,588, or 1.0% of total net assets. See notes (B) and (C) in the accompanying notes. |
Artisan High Income Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 970,085 | | | | 14.5 | % |
Consumer Discretionary | | | 1,379,358 | | | | 20.7 | |
Consumer Staples | | | 249,601 | | | | 3.8 | |
Energy | | | 280,175 | | | | 4.2 | |
Financials | | | 1,238,754 | | | | 18.6 | |
Health Care | | | 238,450 | | | | 3.6 | |
Industrials | | | 918,638 | | | | 13.8 | |
Information Technology | | | 473,627 | | | | 7.1 | |
Materials | | | 309,396 | | | | 4.6 | |
Real Estate | | | 148,031 | | | | 2.2 | |
Short-Term Investment | | | 462,057 | | | | 6.9 | |
| | | | | | | | |
Total investments | | $ | 6,668,172 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
CAD | | $ | 4,495 | | | | 0.1 | % |
USD | | | 6,663,677 | | | | 99.9 | |
| | | | | | | | |
Total investments | | $ | 6,668,172 | | | | 100.0 | % |
| | | | | | | | |
FOREIGN CURRENCY FORWARD CONTRACTS
Values in thousands
| | | | | | | | | | | | | | | | | | |
Currency Purchased | | Currency Sold | | | Counterparty | | Settlement Date | | Unrealized Depreciation | |
USD | | 4,408 | | | CAD | | | | 5,948 | | | JPM | | 7/19/2023 | | $ | (83 | ) |
| | | | | | | | | | | | | | | | | | |
Total unrealized depreciation | | | (83 | ) |
| | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan International Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS AND EQUITY-LINKED SECURITY - 95.2% | |
|
Belgium - 1.9% | |
UCB SA(1) | | | 1,164 | | | $ | 103,193 | |
| | | | | | | | |
|
Canada - 2.3% | |
Canadian Pacific Kansas City Ltd. | | | 1,176 | | | | 94,948 | |
Kinaxis, Inc.* | | | 185 | | | | 26,375 | |
| | | | | | | | |
| | | | | | | 121,323 | |
| | | | | | | | |
|
Denmark - 8.1% | |
Ascendis Pharma A/S, ADR* | | | 727 | | | | 64,913 | |
Carlsberg A/S, Class B(1) | | | 620 | | | | 99,200 | |
Danske Bank A/S*(1) | | | 2,411 | | | | 58,714 | |
Novo Nordisk A/S, ADR | | | 254 | | | | 41,037 | |
Novo Nordisk A/S, Class B(1) | | | 1,035 | | | | 167,152 | |
| | | | | | | | |
| | | | | | | 431,016 | |
| | | | | | | | |
|
France - 13.4% | |
Air Liquide SA(1) | | | 1,424 | | | | 255,347 | |
Airbus SE(1) | | | 579 | | | | 83,694 | |
BNP Paribas SA(1) | | | 1,707 | | | | 107,803 | |
Kering SA(1) | | | 48 | | | | 26,680 | |
LVMH Moet Hennessy Louis Vuitton SE(1) | | | 166 | | | | 156,775 | |
Pernod Ricard SA(1) | | | 192 | | | | 42,452 | |
Safran SA(1) | | | 254 | | | | 39,917 | |
| | | | | | | | |
| | | | | | | 712,668 | |
| | | | | | | | |
|
Germany - 10.8% | |
Allianz SE(1) | | | 568 | | | | 132,080 | |
Deutsche Boerse AG(1) | | | 869 | | | | 160,459 | |
Deutsche Telekom AG(1) | | | 9,722 | | | | 211,917 | |
RWE AG(1) | | | 1,572 | | | | 68,417 | |
| | | | | | | | |
| | | | | | | 572,873 | |
| | | | | | | | |
|
Hong Kong - 1.8% | |
AIA Group Ltd.(1) | | | 9,604 | | | | 97,987 | |
| | | | | | | | |
|
Ireland - 3.0% | |
Ryanair Holdings plc, Equity-Linked Security *(1)(2)(3) | | | 8,514 | | | | 160,263 | |
| | | | | | | | |
|
Japan - 4.0% | |
Daiichi Sankyo Co. Ltd.(1) | | | 6,063 | | | | 192,273 | |
Nippon Sanso Holdings Corp.(1) | | | 987 | | | | 21,458 | |
| | | | | | | | |
| | | | | | | 213,731 | |
| | | | | | | | |
|
Netherlands - 6.5% | |
Adyen NV *(1)(4) | | | 28 | | | | 48,858 | |
Argenx SE, ADR * | | | 329 | | | | 128,217 | |
Ferrovial SE(1) | | | 2,067 | | | | 65,457 | |
Heineken NV(1) | | | 744 | | | | 76,586 | |
Shell plc(1) | | | 919 | | | | 27,349 | |
| | | | | | | | |
| | | | | | | 346,467 | |
| | | | | | | | |
|
Russia - 0.0% | |
MMC Norilsk Nickel PJSC, ADR *(1)(5)(6) | | | 4,881 | | | | — | |
Sberbank of Russia PJSC(1)(5)(6) | | | 38,445 | | | | — | |
| | | | | | | | |
| | | | | | | — | |
| | | | | | | | |
|
Singapore - 2.1% | |
DBS Group Holdings Ltd.(1) | | | 2,410 | | | | 56,352 | |
United Overseas Bank Ltd.(1) | | | 2,718 | | | | 56,335 | |
| | | | | | | | |
| | | | | | | 112,687 | |
| | | | | | | | |
|
Switzerland - 11.1% | |
Alcon, Inc.(1) | | | 1,312 | | | | 109,035 | |
Cie Financiere Richemont SA(1) | | | 1,066 | | | | 180,821 | |
Lonza Group AG(1) | | | 24 | | | | 14,108 | |
Medacta Group SA(1)(4) | | | 277 | | | | 37,750 | |
UBS Group AG(1) | | | 12,353 | | | | 251,340 | |
| | | | | | | | |
| | | | | | | 593,054 | |
| | | | | | | | |
|
Taiwan - 3.1% | |
Taiwan Semiconductor Manufacturing Co. Ltd.(1) | | | 6,263 | | | | 116,713 | |
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | | | 462 | | | | 46,620 | |
| | | | | | | | |
| | | | | | | 163,333 | |
| | | | | | | | |
|
United Kingdom - 8.0% | |
AstraZeneca plc, ADR | | | 915 | | | | 65,516 | |
AstraZeneca plc(1) | | | 364 | | | | 52,200 | |
BAE Systems plc(1) | | | 5,548 | | | | 65,464 | |
Diageo plc(1) | | | 2,391 | | | | 102,581 | |
Reckitt Benckiser Group plc(1) | | | 688 | | | | 51,635 | |
Unilever plc(1) | | | 1,707 | | | | 88,982 | |
| | | | | | | | |
| | | | | | | 426,378 | |
| | | | | | | | |
|
United States - 19.1% | |
Amazon.com, Inc. * | | | 1,610 | | | | 209,934 | |
Aon plc, Class A | | | 510 | | | | 176,195 | |
Experian plc(1) | | | 531 | | | | 20,388 | |
Kenvue, Inc. * | | | 1,420 | | | | 37,527 | |
Linde plc | | | 705 | | | | 268,494 | |
Nestle SA(1) | | | 1,557 | | | | 187,396 | |
Schlumberger Ltd. | | | 2,347 | | | | 115,308 | |
| | | | | | | | |
| | |
| | | | | | | 1,015,242 | |
| | | | | | | | |
| |
Total common stocks and equity-linked security (Cost $4,210,303) | | | | 5,070,215 | |
| | | | | |
|
SHORT-TERM INVESTMENT - 3.2% | |
|
INVESTMENT COMPANY - 3.2% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $171,892) | | | 171,892 | | | | 171,892 | |
| | | | | | | | |
| |
Total investments - 98.4% (Cost $4,382,195) | | | | 5,242,107 | |
| |
Other assets less liabilities - 1.6% | | | | 88,405 | |
| | | | | |
| |
Total net assets - 100.0%# | | | $ | 5,330,512 | |
| | | | | |
Artisan International Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $3,795,131, or 71.2% of total net assets. See notes (B) and (C) in the accompanying notes. |
(2) | Security is restricted. Security was acquired in a transaction pursuant to Rule 144A under the Securities Act of 1933, as amended, on the date or during the period noted below. |
| | | | | | | | | | | | | | | | |
Security | | Acquisition Date | | | Cost | | | Value | | | Percentage of Total Net Assets | |
Ryanair Holdings plc | | | 11/14/2013 - 06/15/2023 | | | $ | 98,450 | | | $ | 160,263 | | | | 3.0 | % |
(3) | Security is an equity-linked security issued by HSBC Bank plc. Equity-linked securities are subject to counterparty risk with respect to the bank or broker-dealer that issues them. |
(4) | Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $86,608 or 1.6% of net assets. |
(5) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(6) | Security is restricted. |
| | | | | | | | | | | | | | | | |
Security | | Acquisition Date | | | Cost | | | Value | | | Percentage of Total Net Assets | |
MMC Norilsk Nickel PJSC | | | 11/09/2020 - 01/14/2022 | | | $ | 151,723 | | | $ | — | | | | 0.0 | % |
Sberbank of Russia PJSC | | | 09/16/2021 - 02/11/2022 | | | | 159,810 | | | | — | | | | 0.0 | % |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 211,917 | | | | 4.0 | % |
Consumer Discretionary | | | 574,210 | | | | 11.0 | |
Consumer Staples | | | 686,359 | | | | 13.1 | |
Energy | | | 142,657 | | | | 2.7 | |
Financials | | | 1,146,123 | | | | 21.9 | |
Health Care | | | 975,394 | | | | 18.6 | |
Industrials | | | 530,131 | | | | 10.1 | |
Information Technology | | | 189,708 | | | | 3.6 | |
Materials | | | 545,299 | | | | 10.4 | |
Utilities | | | 68,417 | | | | 1.3 | |
Short-Term Investment | | | 171,892 | | | | 3.3 | |
| | | | | | | | |
Total investments | | $ | 5,242,107 | | | | 100.0 | % |
| | | | | | | | |
Artisan International Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
CAD | | $ | 121,323 | | | | 2.3 | % |
CHF | | | 780,450 | | | | 14.9 | |
DKK | | | 325,066 | | | | 6.2 | |
EUR | | | 1,579,635 | | | | 30.1 | |
GBP | | | 408,599 | | | | 7.8 | |
HKD | | | 97,987 | | | | 1.9 | |
JPY | | | 213,731 | | | | 4.1 | |
RUB | | | — | | | | 0.0 | |
SGD | | | 112,687 | | | | 2.1 | |
TWD | | | 116,713 | | | | 2.2 | |
USD | | | 1,485,916 | | | | 28.4 | |
| | | | | | | | |
Total investments | | $ | 5,242,107 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan International Explorer Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 81.8% | |
|
Argentina - 5.9% | |
Despegar.com Corp. * | | | 456 | | | $ | 3,213 | |
| | | | | | | | |
|
Australia - 3.1% | |
Steadfast Group Ltd.(1) | | | 416 | | | | 1,665 | |
| | | | | | | | |
|
Canada - 1.6% | |
Knight Therapeutics, Inc. * | | | 125 | | | | 466 | |
Real Matters, Inc.* | | | 84 | | | | 386 | |
| | | | | | | | |
| | | | | | | 852 | |
| | | | | | | | |
|
China - 1.5% | |
China Isotope & Radiation Corp. *(1) | | | 423 | | | | 829 | |
| | | | | | | | |
|
Denmark - 1.1% | |
ALK-Abello A/S, Class B *(1) | | | 55 | | | | 603 | |
| | | | | | | | |
|
France - 3.6% | |
Alten SA *(1) | | | 12 | | | | 1,950 | |
| | | | | | | | |
|
Germany - 4.0% | |
AlzChem Group AG(1) | | | 50 | | | | 1,055 | |
Hensoldt AG(1) | | | 34 | | | | 1,128 | |
| | | | | | | | |
| | | | | | | 2,183 | |
| | | | | | | | |
|
India - 3.1% | |
Care Ratings Ltd.(1) | | | 196 | | | | 1,680 | |
| | | | | | | | |
|
Indonesia - 3.7% | |
Mitra Adiperkasa Tbk. PT *(1) | | | 17,673 | | | | 1,998 | |
| | | | | | | | |
|
Ireland - 6.4% | |
Glenveagh Properties plc *(1)(2) | | | 2,865 | | | | 3,501 | |
| | | | | | | | |
|
Italy - 1.1% | |
Enav SpA(1)(2) | | | 142 | | | | 607 | |
| | | | | | | | |
|
Japan - 10.7% | |
Horiba Ltd.(1) | | | 21 | | | | 1,178 | |
NexTone, Inc. *(1) | | | 24 | | | | 384 | |
Sato Holdings Corp.(1) | | | 157 | | | | 2,125 | |
Zuken, Inc.(1) | | | 80 | | | | 2,161 | |
| | | | | | | | |
| | | | | | | 5,848 | |
| | | | | | | | |
|
Mexico - 3.8% | |
Qualitas Controladora SAB de CV | | | 277 | | | | 2,045 | |
| | | | | | | | |
|
Norway - 0.9% | |
Sikri Group ASA *(1) | | | 702 | | | | 503 | |
| | | | | | | | |
|
South Africa - 1.2% | |
Famous Brands Ltd.(1) | | | 205 | | | | 684 | |
| | | | | | | | |
|
South Korea - 2.5% | |
Vitzrocell Co. Ltd.(1) | | | 80 | | | | 1,373 | |
| | | | | | | | |
|
Switzerland - 1.9% | |
Medmix AG(1)(2) | | | 39 | | | | 1,043 | |
| | | | | | | | |
|
United Kingdom - 19.8% | |
Essentra plc(1) | | | 470 | | | | 968 | |
IDOX plc(1) | | | 1,892 | | | | 1,624 | |
IQE plc *(1) | | | 2,447 | | | | 660 | |
Kingfisher plc(1) | | | 341 | | | | 1,005 | |
LSL Property Services plc(1) | | | 201 | | | | 715 | |
Luxfer Holdings plc | | | 68 | | | | 973 | |
M&C Saatchi plc(1) | | | 2,138 | | | | 4,127 | |
Oxford Biomedica plc *(1) | | | 128 | | | | 683 | |
| | | | | | | | |
| | | | | | | 10,755 | |
| | | | | | | | |
|
United States - 5.9% | |
Impro Precision Industries Ltd.(1)(2) | | | 5,223 | | | | 1,692 | |
Signify NV(1)(2) | | | 54 | | | | 1,520 | |
| | | | | | | | |
| | | | | | | 3,212 | |
| | | | | | | | |
| |
Total common stocks (Cost $42,194) | | | | 44,544 | |
| | | | | |
|
SHORT-TERM INVESTMENTS - 18.1% | |
|
INVESTMENT COMPANIES - 18.1% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% | | | 3,341 | | | | 3,341 | |
Federated Treasury Obligations Fund - Institutional Class, 4.96% | | | 3,242 | | | | 3,242 | |
Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 5.03% | | | 3,242 | | | | 3,242 | |
| | | | | | | | |
| |
Total investment companies (Cost $9,825) | | | | 9,825 | |
| | | | | |
| |
Total investments - 99.9% (Cost $52,019) | | | | 54,369 | |
| |
Other assets less liabilities - 0.1% | | | | 36 | |
| | | | | |
| |
Total net assets - 100.0% # | | | $ | 54,405 | |
| | | | | |
Artisan International Explorer Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $37,461, or 68.9% of total net assets. See notes (B) and (C) in the accompanying notes. |
(2) | Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $8,363 or 15.4% of net assets. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 4,511 | | | | 8.3 | % |
Consumer Discretionary | | | 10,401 | | | | 19.1 | |
Financials | | | 5,390 | | | | 9.9 | |
Health Care | | | 3,624 | | | | 6.7 | |
Industrials | | | 9,418 | | | | 17.3 | |
Information Technology | | | 8,076 | | | | 14.9 | |
Materials | | | 2,023 | | | | 3.7 | |
Real Estate | | | 1,101 | | | | 2.0 | |
Short-Term Investments | | | 9,825 | | | | 18.1 | |
| | | | | | | | |
Total investments | | $ | 54,369 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
AUD | | $ | 1,665 | | | | 3.1 | % |
CAD | | | 852 | | | | 1.5 | |
CHF | | | 1,043 | | | | 1.9 | |
DKK | | | 603 | | | | 1.1 | |
EUR | | | 9,761 | | | | 18.0 | |
GBP | | | 9,782 | | | | 18.0 | |
HKD | | | 2,521 | | | | 4.6 | |
IDR | | | 1,998 | | | | 3.6 | |
INR | | | 1,680 | | | | 3.1 | |
JPY | | | 5,848 | | | | 10.8 | |
KRW | | | 1,373 | | | | 2.5 | |
MXN | | | 2,045 | | | | 3.8 | |
NOK | | | 503 | | | | 0.9 | |
USD | | | 14,011 | | | | 25.8 | |
ZAR | | | 684 | | | | 1.3 | |
| | | | | | | | |
Total investments | | $ | 54,369 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan International Small-Mid Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 96.2% | |
|
Belgium - 0.6% | |
Azelis Group NV(1) | | | 1,154 | | | $ | 26,369 | |
| | | | | | | | |
|
Brazil - 1.7% | |
Hapvida Participacoes e Investimentos SA *(2) | | | 14,978 | | | | 13,733 | |
Rumo SA | | | 6,497 | | | | 30,204 | |
Vibra Energia SA | | | 8,184 | | | | 31,106 | |
| | | | | | | | |
| | | | | | | 75,043 | |
| | | | | | | | |
|
Canada - 5.7% | |
Altus Group Ltd. | | | 732 | | | | 24,288 | |
CAE, Inc. * | | | 3,312 | | | | 74,119 | |
Descartes Systems Group, Inc. (The) * | | | 295 | | | | 23,613 | |
Kinaxis, Inc. * | | | 426 | | | | 60,816 | |
Lightspeed Commerce, Inc. * | | | 2,827 | | | | 47,829 | |
Whitecap Resources, Inc. | | | 3,282 | | | | 22,963 | |
| | | | | | | | |
| | | | | | | 253,628 | |
| | | | | | | | |
|
China - 0.1% | |
Jacobio Pharmaceuticals Group Co. Ltd. *(1)(2) | | | 5,303 | | | | 3,989 | |
| | | | | | | | |
|
Costa Rica - 0.3% | |
Establishment Labs Holdings, Inc. * | | | 171 | | | | 11,717 | |
| | | | | | | | |
|
Denmark - 6.9% | |
ALK-Abello A/S, Class B *(1) | | | 1,202 | | | | 13,132 | |
Ambu A/S, Class B *(1) | | | 4,830 | | | | 79,004 | |
Carlsberg A/S, Class B(1) | | | 176 | | | | 28,078 | |
DSV A/S(1) | | | 144 | | | | 30,409 | |
FLSmidth & Co. A/S(1) | | | 746 | | | | 36,104 | |
Genmab A/S *(1) | | | 128 | | | | 48,503 | |
Royal Unibrew A/S(1) | | | 280 | | | | 25,066 | |
Tryg A/S(1) | | | 640 | | | | 13,848 | |
Vestas Wind Systems A/S *(1) | | | 904 | | | | 24,031 | |
Zealand Pharma A/S *(1) | | | 263 | | | | 9,429 | |
| | | | | | | | |
| | | | | | | 307,604 | |
| | | | | | | | |
|
Finland - 2.6% | |
Metso Outotec OYJ(1) | | | 9,033 | | | | 108,816 | |
Revenio Group OYJ(1) | | | 255 | | | | 8,830 | |
| | | | | | | | |
| | | | | | | 117,646 | |
| | | | | | | | |
|
France - 2.1% | |
Gaztransport Et Technigaz SA(1) | | | 197 | | | | 20,074 | |
Lectra(1) | | | 1,408 | | | | 41,960 | |
Remy Cointreau SA(1) | | | 56 | | | | 9,032 | |
Ubisoft Entertainment SA *(1) | | | 801 | | | | 22,635 | |
| | | | | | | | |
| | | | | | | 93,701 | |
| | | | | | | | |
|
Germany - 6.6% | |
AIXTRON SE(1) | | | 2,432 | | | | 82,506 | |
BioNTech SE, ADR * | | | 40 | | | | 4,360 | |
Carl Zeiss Meditec AG(1) | | | 166 | | | | 17,951 | |
Duerr AG(1) | | | 775 | | | | 25,075 | |
Gerresheimer AG(1) | | | 769 | | | | 86,501 | |
Hamburger Hafen und Logistik AG(1) | | | 1,119 | | | | 13,937 | |
Hannover Rueck SE(1) | | | 114 | | | | 24,178 | |
Immatics NV * | | | 435 | | | | 5,018 | |
Symrise AG, Class A(1) | | | 352 | | | | 36,899 | |
| | | | | | | | |
| | | | | | | 296,425 | |
| | | | | | | | |
|
Iceland - 0.5% | |
Ossur HF*(1) | | | 4,455 | | | | 20,992 | |
| | | | | | | | |
|
India - 2.7% | |
IndiaMart InterMesh Ltd.(1)(2) | | | 853 | | | | 29,372 | |
PB Fintech Ltd. *(1) | | | 2,943 | | | | 25,094 | |
WNS Holdings Ltd., ADR * | | | 873 | | | | 64,341 | |
| | | | | | | | |
| | | | | | | 118,807 | |
| | | | | | | | |
|
Israel - 7.1% | |
Kornit Digital Ltd. * | | | 2,466 | | | | 72,413 | |
Nice Ltd., ADR * | | | 878 | | | | 181,263 | |
Radware Ltd. * | | | 1,632 | | | | 31,644 | |
Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.(1) | | | 189 | | | | 11,211 | |
Tel Aviv Stock Exchange Ltd. *(1) | | | 3,931 | | | | 20,293 | |
| | | | | | | | |
| | | | | | | 316,824 | |
| | | | | | | | |
|
Italy - 1.9% | |
Davide Campari-Milano NV(1) | | | 2,864 | | | | 39,695 | |
Ermenegildo Zegna NV | | | 1,597 | | | | 20,248 | |
Intercos SpA(1) | | | 167 | | | | 2,812 | |
Moncler SpA(1) | | | 327 | | | | 22,602 | |
| | | | | | | | |
| | | | | | | 85,357 | |
| | | | | | | | |
|
Japan - 12.2% | |
Azbil Corp.(1) | | | 2,398 | | | | 75,891 | |
Carenet, Inc.(1) | | | 1,952 | | | | 12,795 | |
CKD Corp.(1)(3) | | | 3,657 | | | | 60,089 | |
Daikokutenbussan Co. Ltd.(1)(3) | | | 762 | | | | 28,258 | |
en Japan, Inc.(1) | | | 578 | | | | 10,010 | |
Fujitec Co. Ltd.(1) | | | 776 | | | | 19,883 | |
GMO Financial Gate, Inc.(1) | | | 267 | | | | 21,567 | |
Jeol Ltd.(1) | | | 571 | | | | 20,370 | |
Kobe Bussan Co. Ltd.(1) | | | 442 | | | | 11,436 | |
Lion Corp.(1) | | | 1,434 | | | | 13,370 | |
Money Forward, Inc. *(1) | | | 631 | | | | 25,090 | |
Morinaga Milk Industry Co. Ltd.(1) | | | 763 | | | | 25,006 | |
NOF Corp.(1) | | | 962 | | | | 41,349 | |
Rohm Co. Ltd.(1) | | | 715 | | | | 67,536 | |
Rohto Pharmaceutical Co. Ltd.(1) | | | 1,314 | | | | 29,669 | |
SCSK Corp.(1) | | | 557 | | | | 8,773 | |
SG Holdings Co. Ltd.(1) | | | 3,651 | | | | 52,086 | |
Sosei Group Corp. *(1) | | | 381 | | | | 3,962 | |
Temairazu, Inc.(1) | | | 298 | | | | 8,289 | |
Ubicom Holdings, Inc.(1)(3) | | | 775 | | | | 8,671 | |
| | | | | | | | |
| | | | | | | 544,100 | |
| | | | | | | | |
|
Mexico - 0.5% | |
Qualitas Controladora SAB de CV | | | 2,901 | | | | 21,461 | |
| | | | | | | | |
|
Netherlands - 1.2% | |
IMCD NV(1) | | | 367 | | | | 52,725 | |
| | | | | | | | |
Artisan International Small-Mid Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
Sweden - 2.8% | |
AAK AB(1) | | | 1,595 | | | | 30,017 | |
Fortnox AB(1) | | | 5,572 | | | | 32,907 | |
Swedish Orphan Biovitrum AB *(1) | | | 3,112 | | | | 60,692 | |
| | | | | | | | |
| | | | | | | 123,616 | |
| | | | | | | | |
|
Switzerland - 7.0% | |
Alcon, Inc.(1) | | | 1,200 | | | | 99,740 | |
Baloise Holding AG(1) | | | 256 | | | | 37,715 | |
Barry Callebaut AG(1) | | | 19 | | | | 36,581 | |
Belimo Holding AG(1) | | | 79 | | | | 39,513 | |
Burckhardt Compression Holding AG(1) | | | 65 | | | | 38,249 | |
DSM-Firmenich AG *(1) | | | 297 | | | | 31,984 | |
Inficon Holding AG(1) | | | 8 | | | | 10,224 | |
Tecan Group AG(1) | | | 44 | | | | 17,044 | |
| | | | | | | | |
| | | | | | | 311,050 | |
| | | | | | | | |
|
Thailand - 1.6% | |
Fabrinet* | | | 562 | | | | 73,001 | |
| | | | | | | | |
|
United Kingdom - 15.2% | |
Alphawave IP Group plc *(1) | | | 17,445 | | | | 31,856 | |
Balfour Beatty plc(1) | | | 8,982 | | | | 38,925 | |
boohoo Group plc *(1) | | | 13,952 | | | | 6,008 | |
Britvic plc(1) | | | 2,900 | | | | 31,550 | |
ConvaTec Group plc(1)(2) | | | 35,634 | | | | 92,923 | |
Croda International plc(1) | | | 176 | | | | 12,601 | |
Howden Joinery Group plc(1) | | | 6,963 | | | | 56,849 | |
Immunocore Holdings plc, ADR * | | | 80 | | | | 4,787 | |
JD Sports Fashion plc(1) | | | 19,044 | | | | 35,298 | |
JET2 plc(1) | | | 5,370 | | | | 84,940 | |
Oxford Biomedica plc *(1) | | | 251 | | | | 1,344 | |
Rotork plc(1) | | | 17,122 | | | | 66,374 | |
RS Group plc(1) | | | 2,312 | | | | 22,346 | |
Smiths Group plc(1) | | | 1,973 | | | | 41,290 | |
Spirax-Sarco Engineering plc(1) | | | 332 | | | | 43,666 | |
St. James’s Place plc(1) | | | 3,006 | | | | 41,540 | |
Subsea 7 SA(1) | | | 2,254 | | | | 28,034 | |
Trainline plc *(1)(2) | | | 10,402 | | | | 34,415 | |
| | | | | | | | |
| | | | | | | 674,746 | |
| | | | | | | | |
|
United States - 16.9% | |
Agilysys, Inc. * | | | 704 | | | | 48,353 | |
Akero Therapeutics, Inc. * | | | 149 | | | | 6,950 | |
Alkermes plc * | | | 1,156 | | | | 36,194 | |
Avidity Biosciences, Inc.* | | | 1,337 | | | | 14,822 | |
Calix, Inc. * | | | 321 | | | | 16,020 | |
Chart Industries, Inc. * | | | 80 | | | | 12,820 | |
CyberArk Software Ltd. * | | | 498 | | | | 77,796 | |
Envista Holdings Corp. * | | | 741 | | | | 25,059 | |
Glaukos Corp. * | | | 1,144 | | | | 81,457 | |
ImmunoGen, Inc. * | | | 2,299 | | | | 43,377 | |
Ingersoll Rand, Inc. | | | 849 | | | | 55,467 | |
Inspire Medical Systems, Inc. * | | | 69 | | | | 22,486 | |
Lantheus Holdings, Inc. * | | | 148 | | | | 12,394 | |
Legend Biotech Corp., ADR * | | | 320 | | | | 22,060 | |
Madrigal Pharmaceuticals, Inc. * | | | 142 | | | | 32,794 | |
MaxCyte, Inc. * | | | 794 | | | | 3,644 | |
Model N, Inc. * | | | 1,565 | | | | 55,326 | |
Monday.com Ltd. * | | | 143 | | | | 24,556 | |
Myriad Genetics, Inc. * | | | 1,569 | | | | 36,363 | |
RxSight, Inc. * | | | 1,282 | | | | 36,919 | |
STAAR Surgical Co. * | | | 181 | | | | 9,538 | |
ViewRay, Inc. * | | | 9,051 | | | | 3,188 | |
Wolfspeed, Inc. * | | | 1,308 | | | | 72,716 | |
| | | | | | | | |
| | | | | | | 750,299 | |
| | | | | | | | |
| |
Total common stocks (Cost $3,720,247) | | | | 4,279,100 | |
| | | | | |
|
SHORT-TERM INVESTMENT - 2.6% | |
|
INVESTMENT COMPANY - 2.6% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $116,331) | | | 116,331 | | | | 116,331 | |
| | | | | | | | |
| |
Total investments - 98.8% (Cost $3,836,578) | | | | 4,395,431 | |
| |
Other assets less liabilities - 1.2% | | | | 53,169 | |
| | | | | |
| |
Total net assets - 100.0% # | | | $ | 4,448,600 | |
| | | | | |
Artisan International Small-Mid Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $2,709,877, or 60.9% of total net assets. See notes (B) and (C) in the accompanying notes. |
(2) | Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $174,432 or 3.9% of net assets. |
(3) | Affiliated company as defined under the Investment Company Act of 1940. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 22,635 | | | | 0.5 | % |
Consumer Discretionary | | | 157,966 | | | | 3.6 | |
Consumer Staples | | | 321,781 | | | | 7.3 | |
Energy | | | 71,071 | | | | 1.6 | |
Financials | | | 205,696 | | | | 4.7 | |
Health Care | | | 1,024,061 | | | | 23.3 | |
Industrials | | | 1,230,422 | | | | 28.0 | |
Information Technology | | | 1,098,347 | | | | 25.0 | |
Materials | | | 122,833 | | | | 2.8 | |
Real Estate | | | 24,288 | | | | 0.6 | |
Short-Term Investment | | | 116,331 | | | | 2.6 | |
| | | | | | | | |
Total investments | | $ | 4,395,431 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
BRL | | $ | 75,043 | | | | 1.7 | % |
CAD | | | 253,628 | | | | 5.8 | |
CHF | | | 279,066 | | | | 6.3 | |
DKK | | | 328,596 | | | | 7.5 | |
EUR | | | 674,581 | | | | 15.3 | |
GBP | | | 641,925 | | | | 14.6 | |
HKD | | | 3,989 | | | | 0.1 | |
ILS | | | 31,504 | | | | 0.7 | |
INR | | | 54,466 | | | | 1.2 | |
JPY | | | 544,100 | | | | 12.4 | |
MXN | | | 21,461 | | | | 0.5 | |
NOK | | | 28,034 | | | | 0.6 | |
SEK | | | 123,616 | | | | 2.8 | |
USD | | | 1,335,422 | | | | 30.5 | |
| | | | | | | | |
Total investments | | $ | 4,395,431 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan International Value Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS AND EQUITY-LINKED SECURITY - 90.6% | |
|
Belgium - 1.4% | |
Groupe Bruxelles Lambert NV(1) | | | 5,078 | | | $ | 400,237 | |
| | | | | | | | |
|
Bermuda - 0.4% | |
Voussoir RE Ltd. (Preferred Shares) *(1)(2) | | | 1 | | | | 103,240 | |
| | | | | | | | |
|
Brazil - 0.7% | |
Telefonica Brasil SA, ADR | | | 21,804 | | | | 199,074 | |
| | | | | | | | |
|
Canada - 3.6% | |
Alimentation Couche-Tard, Inc. | | | 11,214 | | | | 575,041 | |
Suncor Energy, Inc. | | | 15,567 | | | | 456,632 | |
| | | | | | | | |
| | | | | | | 1,031,673 | |
| | | | | | | | |
|
China - 4.2% | |
Alibaba Group Holding Ltd. *(1) | | | 55,446 | | | | 576,644 | |
Anhui Conch Cement Co. Ltd., Class H(1) | | | 53,125 | | | | 141,422 | |
Hengan International Group Co. Ltd.(1) | | | 38,577 | | | | 162,658 | |
Trip.com Group Ltd. *(1) | | | 9,248 | | | | 323,544 | |
| | | | | | | | |
| | | | | | | 1,204,268 | |
| | | | | | | | |
|
Finland - 1.3% | |
Nokia OYJ, ADR | | | 70,929 | | | | 295,064 | |
Nokia OYJ(1) | | | 19,073 | | | | 80,040 | |
| | | | | | | | |
| | | | | | | 375,104 | |
| | | | | | | | |
|
France - 10.6% | |
Danone SA(1) | | | 21,762 | | | | 1,333,506 | |
Safran SA(1) | | | 6,297 | | | | 989,362 | |
Sodexo SA(1) | | | 5,821 | | | | 641,030 | |
Sodexo SA (Registered Shares)(1)(3) | | | 737 | | | | 81,192 | |
| | | | | | | | |
| | | | | | | 3,045,090 | |
| | | | | | | | |
|
Germany - 4.1% | |
adidas AG(1) | | | 2,067 | | | | 400,990 | |
Bayer AG(1) | | | 7,812 | | | | 431,880 | |
Brenntag SE(1) | | | 646 | | | | 50,345 | |
Fresenius Medical Care AG & Co. KGaA(1) | | | 6,028 | | | | 287,866 | |
| | | | | | | | |
| | | | | | | 1,171,081 | |
| | | | | | | | |
|
India - 3.5% | |
HCL Technologies Ltd.(1) | | | 59,222 | | | | 860,030 | |
Indus Towers Ltd. *(1) | | | 72,516 | | | | 145,420 | |
| | | | | | | | |
| | | | | | | 1,005,450 | |
| | | | | | | | |
|
Ireland - 3.4% | |
CRH plc(1) | | | 6,482 | | | | 357,991 | |
Ryanair Holdings plc *(1) | | | 1,846 | | | | 34,740 | |
Ryanair Holdings plc, Equity-Linked Security*(1)(4)(5) | | | 30,602 | | | | 576,011 | |
| | | | | | | | |
| | | | | | | 968,742 | |
| | | | | | | | |
|
Japan - 1.9% | |
Nintendo Co. Ltd.(1) | | | 5,438 | | | | 247,367 | |
Seven & i Holdings Co. Ltd.(1) | | | 7,255 | | | | 313,698 | |
| | | | | | | | |
| | | | | | | 561,065 | |
| | | | | | | | |
|
Mexico - 0.7% | |
Gruma SAB de CV, Class B | | | 13,169 | | | | 211,456 | |
| | | | | | | | |
|
Netherlands - 3.6% | |
Koninklijke Philips NV *(1) | | | 36,338 | | | | 786,360 | |
Universal Music Group NV(1) | | | 10,883 | | | | 241,791 | |
| | | | | | | | |
| | | | | | | 1,028,151 | |
| | | | | | | | |
|
South Korea - 7.4% | |
NAVER Corp.(1) | | | 2,179 | | | | 305,061 | |
Samsung Electronics Co. Ltd.(1) | | | 22,602 | | | | 1,245,738 | |
Samsung Electronics Co. Ltd. (Preference)(1) | | | 12,354 | | | | 560,678 | |
| | | | | | | | |
| | | | | | | 2,111,477 | |
| | | | | | | | |
|
Switzerland - 15.3% | |
ABB Ltd.(1) | | | 27,671 | | | | 1,088,792 | |
Cie Financiere Richemont SA(1) | | | 4,440 | | | | 753,286 | |
Novartis AG(1) | | | 14,636 | | | | 1,477,123 | |
UBS Group AG(1) | | | 52,728 | | | | 1,072,784 | |
| | | | | | | | |
| | | | | | | 4,391,985 | |
| | | | | | | | |
|
United Kingdom - 14.8% | |
Associated British Foods plc(1) | | | 16,352 | | | | 414,767 | |
Berkeley Group Holdings plc(1)(6) | | | 5,814 | | | | 289,564 | |
CNH Industrial NV(1) | | | 24,265 | | | | 350,712 | |
Compass Group plc(1) | | | 38,328 | | | | 1,072,167 | |
Inchcape plc(1) | | | 6,242 | | | | 61,686 | |
Liberty Global plc, Class A * | | | 10,800 | | | | 182,087 | |
Liberty Global plc, Class C * | | | 6,333 | | | | 112,545 | |
Lloyds Banking Group plc(1) | | | 857,429 | | | | 475,334 | |
Pearson plc(1) | | | 11,900 | | | | 125,410 | |
RELX plc (London Stock Exchange)(1) | | | 22,352 | | | | 745,180 | |
RELX plc (Turquoise Stock Exchange)(1) | | | 1,429 | | | | 47,661 | |
Unilever plc(1) | | | 7,080 | | | | 369,189 | |
| | | | | | | | |
| | | | | | | 4,246,302 | |
| | | | | | | | |
|
United States - 13.7% | |
Arch Capital Group Ltd. * | | | 17,810 | | | | 1,333,088 | |
Garmin Ltd. | | | 5,465 | | | | 569,918 | |
Holcim AG(1) | | | 12,744 | | | | 856,820 | |
Sensata Technologies Holding plc(6) | | | 8,927 | | | | 401,630 | |
Willis Towers Watson plc | | | 3,231 | | | | 760,788 | |
| | | | | | | | |
| | | | | | | 3,922,244 | |
| | | | | | | | |
| |
Total common stocks and equity-linked security (Cost $20,435,082) | | | | 25,976,639 | |
| | | | | |
|
SHORT-TERM INVESTMENT - 8.2% | |
| | |
INVESTMENT COMPANY - 8.2% | | | | | | | | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $2,343,495) | | | 2,343,495 | | | | 2,343,495 | |
| | | | | | | | |
Artisan International Value Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
Total investments - 98.8% (Cost $22,778,577) | | | | | | $ | 28,320,134 | |
| | |
Other assets less liabilities - 1.2% | | | | | | | 336,002 | |
| | | | | | | | |
| | |
Total net assets - 100.0% # | | | | | | $ | 28,656,136 | |
| | | | | | | | |
Artisan International Value Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $20,879,316, or 72.9% of total net assets. See notes (B) and (C) in the accompanying notes. |
(2) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(3) | Security is restricted. |
| | | | | | | | | | | | | | |
Security | | Acquisition Date | | Cost | | | Value | | | Percentage of Total Net Assets | |
Sodexo SA (Registered Shares) | | 09/04/2020 | | $ | 63,852 | | | $ | 81,192 | | | | 0.3 | % |
(4) | Security is restricted. Security was acquired in a transaction pursuant to Rule 144A under the Securities Act of 1933, as amended, on the date or during the period noted below. |
| | | | | | | | | | | | | | |
Security | | Acquisition Date | | Cost | | | Value | | | Percentage of Total Net Assets | |
Ryanair Holdings plc | | 11/14/2013 - 06/15/2023 | | $ | 350,852 | | | $ | 576,011 | | | | 2.0 | % |
(5) | Security is an equity-linked security issued by HSBC Bank plc. Equity-linked securities are subject to counterparty risk with respect to the bank or broker-dealer that issues them. |
(6) | Affiliated company as defined under the Investment Company Act of 1940. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 1,433,345 | | | | 5.1 | % |
Consumer Discretionary | | | 4,895,431 | | | | 17.3 | |
Consumer Staples | | | 3,380,315 | | | | 11.9 | |
Energy | | | 456,632 | | | | 1.6 | |
Financials | | | 4,145,471 | | | | 14.6 | |
Health Care | | | 2,983,229 | | | | 10.5 | |
Industrials | | | 4,284,433 | | | | 15.1 | |
Information Technology | | | 3,041,550 | | | | 10.8 | |
Materials | | | 1,356,233 | | | | 4.8 | |
Short-Term Investment | | | 2,343,495 | | | | 8.3 | |
| | | | | | | | |
Total investments | | $ | 28,320,134 | | | | 100.0 | % |
| | | | | | | | |
Artisan International Value Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
CAD | | $ | 1,031,673 | | | | 3.6 | % |
CHF | | | 5,248,805 | | | | 18.5 | |
EUR | | | 6,515,703 | | | | 23.0 | |
GBP | | | 3,553,297 | | | | 12.5 | |
HKD | | | 1,204,268 | | | | 4.3 | |
INR | | | 1,005,450 | | | | 3.6 | |
JPY | | | 561,065 | | | | 2.0 | |
KRW | | | 2,111,477 | | | | 7.5 | |
MXN | | | 211,456 | | | | 0.7 | |
USD | | | 6,876,940 | | | | 24.3 | |
| | | | | | | | |
Total investments | | $ | 28,320,134 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-Port Part F.
OTC TOTAL RETURN SWAP
Values in thousands
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Reference Entity | | Payments Made by Fund | | Payments Received by Portfolio | | Frequency of Payments Made/Received | | Counterparty | | Maturity Date | | | Notional Amount | | Upfront Payments (Receipts) | | | Unrealized Appreciation | | | Value | |
Gruma SAB de CV | | Fed funds rate + (0.70)% and decrease in total return of reference entity | | Increase in total return of reference entity | | Monthly | | UBS AG | | | 9/21/2023 | | | USD 1,800 | | | — | | | | 139 | | | | 139 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | — | | | | 139 | | | | 139 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Artisan Mid Cap Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 98.5% | |
|
Banks - 0.8% | |
NU Holdings Ltd., Class A*(1) | | | 4,715 | | | $ | 37,200 | |
| | | | | | | | |
|
Biotechnology - 9.3% | |
Argenx SE, ADR *(1) | | | 383 | | | | 149,403 | |
Ascendis Pharma A/S, ADR *(1) | | | 1,097 | | | | 97,905 | |
BioNTech SE, ADR*(1) | | | 375 | | | | 40,509 | |
Exact Sciences Corp. * | | | 1,038 | | | | 97,504 | |
Halozyme Therapeutics, Inc. * | | | 914 | | | | 32,985 | |
Sarepta Therapeutics, Inc. * | | | 169 | | | | 19,315 | |
| | | | | | | | |
| | | | | | | 437,621 | |
| | | | | | | | |
|
Broadline Retail - 1.7% | |
Etsy, Inc. * | | | 440 | | | | 37,268 | |
Global-e Online Ltd. *(1) | | | 1,013 | | | | 41,467 | |
| | | | | | | | |
| | | | | | | 78,735 | |
| | | | | | | | |
|
Building Products - 1.2% | |
Trex Co., Inc. * | | | 868 | | | | 56,906 | |
| | | | | | | | |
|
Capital Markets - 3.3% | |
MarketAxess Holdings, Inc. | | | 147 | | | | 38,503 | |
MSCI, Inc. | | | 137 | | | | 64,103 | |
Tradeweb Markets, Inc., Class A | | | 752 | | | | 51,508 | |
| | | | | | | | |
| | | | | | | 154,114 | |
| | | | | | | | |
|
Communications Equipment - 1.9% | |
Arista Networks, Inc. * | | | 542 | | | | 87,764 | |
| | | | | | | | |
|
Consumer Staples Distribution & Retail - 0.8% | |
BJ’s Wholesale Club Holdings, Inc. * | | | 583 | | | | 36,743 | |
| | | | | | | | |
|
Distributors - 0.9% | |
Pool Corp. | | | 113 | | | | 42,298 | |
| | | | | | | | |
|
Electrical Equipment - 3.1% | |
Hubbell, Inc. | | | 266 | | | | 88,203 | |
Rockwell Automation, Inc. | | | 180 | | | | 59,210 | |
| | | | | | | | |
| | | | | | | 147,413 | |
| | | | | | | | |
|
Electronic Equipment, Instruments & Components - 2.2% | |
Keysight Technologies, Inc. * | | | 236 | | | | 39,586 | |
Teledyne Technologies, Inc. * | | | 160 | | | | 65,726 | |
| | | | | | | | |
| | | | | | | 105,312 | |
| | | | | | | | |
|
Entertainment - 3.9% | |
Liberty Media Corp-Liberty Formula One, Class C * | | | 397 | | | | 29,859 | |
Live Nation Entertainment, Inc. * | | | 698 | | | | 63,612 | |
ROBLOX Corp., Class A * | | | 560 | | | | 22,561 | |
Spotify Technology SA * | | | 146 | | | | 23,437 | |
Take-Two Interactive Software, Inc. * | | | 296 | | | | 43,525 | |
| | | | | | | | |
| | | | | | | 182,994 | |
| | | | | | | | |
|
Financial Services - 1.7% | |
Global Payments, Inc. | | | 810 | | | | 79,761 | |
| | | | | | | | |
|
Ground Transportation - 1.1% | |
Saia, Inc. * | | | 150 | | | | 51,411 | |
| | | | | | | | |
|
Health Care Equipment & Supplies - 5.3% | |
Cooper Cos., Inc. (The) | | | 108 | | | | 41,486 | |
Dexcom, Inc. * | | | 689 | | | | 88,577 | |
Envista Holdings Corp. * | | | 651 | | | | 22,028 | |
iRhythm Technologies, Inc. * | | | 359 | | | | 37,452 | |
Shockwave Medical, Inc. * | | | 204 | | | | 58,294 | |
| | | | | | | | |
| | | | | | | 247,837 | |
| | | | | | | | |
|
Health Care Providers & Services - 0.9% | |
agilon health, Inc. * | | | 2,537 | | | | 43,992 | |
| | | | | | | | |
|
Health Care Technology - 5.1% | |
Veeva Systems, Inc., Class A * | | | 1,211 | | | | 239,431 | |
| | | | | | | | |
|
Hotels, Restaurants & Leisure - 3.8% | |
Chipotle Mexican Grill, Inc. * | | | 84 | | | | 178,613 | |
| | | | | | | | |
|
Insurance - 2.4% | |
Arthur J Gallagher & Co. | | | 297 | | | | 65,277 | |
Ryan Specialty Holdings, Inc., Class A * | | | 1,092 | | | | 49,042 | |
| | | | | | | | |
| | | | | | | 114,319 | |
| | | | | | | | |
|
IT Services - 1.4% | |
Shopify, Inc., Class A *(1) | | | 1,032 | | | | 66,668 | |
| | | | | | | | |
|
Life Sciences Tools & Services - 7.3% | |
Agilent Technologies, Inc. | | | 770 | | | | 92,538 | |
Gerresheimer AG(1)(2) | | | 531 | | | | 59,734 | |
Repligen Corp. * | | | 373 | | | | 52,747 | |
West Pharmaceutical Services, Inc. | | | 358 | | | | 136,926 | |
| | | | | | | | |
| | | | | | | 341,945 | |
| | | | | | | | |
|
Machinery - 5.0% | |
Fortive Corp. | | | 1,149 | | | | 85,918 | |
Ingersoll Rand, Inc. | | | 2,298 | | | | 150,170 | |
| | | | | | | | |
| | | | | | | 236,088 | |
| | | | | | | | |
|
Professional Services - 4.8% | |
Ceridian HCM Holding, Inc. * | | | 919 | | | | 61,559 | |
CoStar Group, Inc. * | | | 891 | | | | 79,326 | |
Verisk Analytics, Inc. | | | 376 | | | | 85,007 | |
| | | | | | | | |
| | | | | | | 225,892 | |
| | | | | | | | |
|
Semiconductors & Semiconductor Equipment - 10.6% | |
Lattice Semiconductor Corp. * | | | 2,227 | | | | 213,983 | |
Monolithic Power Systems, Inc. | | | 211 | | | | 114,078 | |
ON Semiconductor Corp. * | | | 1,782 | | | | 168,551 | |
| | | | | | | | |
| | | | | | | 496,612 | |
| | | | | | | | |
|
Software - 17.3% | |
Atlassian Corp., Class A * | | | 832 | | | | 139,692 | |
Bentley Systems, Inc., Class B | | | 1,297 | | | | 70,343 | |
Datadog, Inc., Class A * | | | 638 | | | | 62,773 | |
HubSpot, Inc. * | | | 413 | | | | 219,598 | |
Synopsys, Inc. * | | | 305 | | | | 133,013 | |
Tyler Technologies, Inc. * | | | 241 | | | | 100,271 | |
Zscaler, Inc. * | | | 607 | | | | 88,818 | |
| | | | | | | | |
| | | | | | | 814,508 | |
| | | | | | | | |
|
Specialty Retail - 1.3% | |
Five Below, Inc. * | | | 321 | | | | 63,012 | |
| | | | | | | | |
|
Textiles, Apparel & Luxury Goods - 1.3% | |
Lululemon Athletica, Inc. * | | | 162 | | | | 61,152 | |
| | | | | | | | |
|
Trading Companies & Distributors - 0.1% | |
WESCO International, Inc. | | | 17 | | | | 3,099 | |
| | | | | | | | |
Total common stocks (Cost $2,963,292) | | | | 4,631,440 | |
| | | | | |
Artisan Mid Cap Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
SHORT-TERM INVESTMENT - 1.4% | |
|
INVESTMENT COMPANY - 1.4% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $63,626) | | | 63,626 | | | $ | 63,626 | |
| | | | | | | | |
| |
Total investments - 99.9% (Cost $3,026,918) | | | | 4,695,066 | |
| |
Other assets less liabilities - 0.1% | | | | 4,565 | |
| | | | | |
| |
Total net assets - 100.0%# | | | $ | 4,699,631 | |
| | | | | |
Artisan Mid Cap Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications. |
| | | | |
Security | | Country | | Trading Currency |
Argenx SE | | Netherlands | | USD |
Ascendis Pharma A/S | | Denmark | | USD |
BioNTech SE | | Germany | | USD |
Gerresheimer AG | | Germany | | EUR |
Global-e Online Ltd. | | Israel | | USD |
NU Holdings Ltd. | | Brazil | | USD |
Shopify, Inc. | | Canada | | USD |
(2) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $59,734, or 1.3% of total net assets. See notes (B) and (C) in the accompanying notes. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 182,995 | | | | 3.9 | % |
Consumer Discretionary | | | 423,810 | | | | 9.0 | |
Consumer Staples | | | 36,743 | | | | 0.8 | |
Financials | | | 385,394 | | | | 8.2 | |
Health Care | | | 1,310,826 | | | | 27.9 | |
Industrials | | | 720,809 | | | | 15.4 | |
Information Technology | | | 1,570,863 | | | | 33.4 | |
Short-Term Investment | | | 63,626 | | | | 1.4 | |
| | | | | | | | |
Total investments | | $ | 4,695,066 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
EUR | | $ | 59,734 | | | | 1.3 | % |
USD | | | 4,635,332 | | | | 98.7 | |
| | | | | | | | |
Total investments | | $ | 4,695,066 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Mid Cap Value Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 98.0% | |
|
Aerospace & Defense - 1.8% | |
CAE, Inc. *(1) | | | 979 | | | $ | 21,911 | |
| | | | | | | | |
|
Air Freight & Logistics - 2.0% | |
Expeditors International of Washington, Inc. | | | 203 | | | | 24,564 | |
| | | | | | | | |
|
Automobile Components - 3.5% | |
BorgWarner, Inc. | | | 382 | | | | 18,702 | |
Gentex Corp. | | | 799 | | | | 23,371 | |
| | | | | | | | |
| | | | | | | 42,073 | |
| | | | | | | | |
|
Banks - 11.4% | |
Comerica, Inc. | | | 303 | | | | 12,839 | |
Fifth Third Bancorp | | | 923 | | | | 24,193 | |
First Citizens BancShares, Inc., Class A | | | 42 | | | | 53,802 | |
M&T Bank Corp. | | | 213 | | | | 26,412 | |
Washington Federal, Inc. | | | 754 | | | | 19,987 | |
| | | | | | | | |
| | | | | | | 137,233 | |
| | | | | | | | |
|
Capital Markets - 1.8% | |
Moelis & Co., Class A | | | 488 | | | | 22,134 | |
| | | | | | | | |
|
Consumer Staples Distribution & Retail - 4.8% | |
Dollar General Corp. | | | 102 | | | | 17,299 | |
Kroger Co. (The) | | | 501 | | | | 23,530 | |
Sysco Corp. | | | 233 | | | | 17,295 | |
| | | | | | | | |
| | | | | | | 58,124 | |
| | | | | | | | |
|
Diversified Consumer Services - 1.2% | |
H&R Block, Inc. | | | 434 | | | | 13,844 | |
| | | | | | | | |
|
Electric Utilities - 2.3% | |
OGE Energy Corp. | | | 773 | | | | 27,746 | |
| | | | | | | | |
|
Electrical Equipment - 2.4% | |
Godha Cabcon & Insulation Ltd. Escrow *(1)(2)(3) | | | 220 | | | | — | |
nVent Electric plc | | | 562 | | | | 29,031 | |
| | | | | | | | |
| | | | | | | 29,031 | |
| | | | | | | | |
|
Electronic Equipment, Instruments & Components - 3.3% | |
Vontier Corp. | | | 1,229 | | | | 39,576 | |
| | | | | | | | |
|
Energy Equipment & Services - 2.1% | |
NOV, Inc. | | | 1,611 | | | | 25,835 | |
| | | | | | | | |
|
Entertainment - 3.4% | |
Electronic Arts, Inc. | | | 165 | | | | 21,343 | |
Warner Bros Discovery, Inc. * | | | 1,563 | | | | 19,601 | |
| | | | | | | | |
| | | | | | | 40,944 | |
| | | | | | | | |
|
Financial Services - 1.8% | |
Corebridge Financial, Inc. | | | 1,220 | | | | 21,539 | |
| | | | | | | | |
|
Food Products - 2.0% | |
Tyson Foods, Inc., Class A | | | 465 | | | | 23,743 | |
| | | | | | | | |
|
Ground Transportation - 2.9% | |
U-Haul Holding Co., Series N | | | 613 | | | | 31,078 | |
U-Haul Holding Co. | | | 68 | | | | 3,770 | |
| | | | | | | | |
| | | | | | | 34,848 | |
| | | | | | | | |
|
Health Care Equipment & Supplies - 5.8% | |
Baxter International, Inc. | | | 797 | | | | 36,329 | |
Dentsply Sirona, Inc. | | | 852 | | | | 34,089 | |
| | | | | | | | |
| | | | | | | 70,418 | |
| | | | | | | | |
|
Health Care Providers & Services - 2.2% | |
Centene Corp. * | | | 395 | | | | 26,616 | |
| | | | | | | | |
|
Hotels, Restaurants & Leisure - 6.9% | |
Expedia Group, Inc. * | | | 250 | | | | 27,367 | |
Marriott International, Inc., Class A | | | 175 | | | | 32,180 | |
Vail Resorts, Inc. | | | 96 | | | | 24,053 | |
| | | | | | | | |
| | | | | | | 83,600 | |
| | | | | | | | |
|
Insurance - 7.2% | |
Arch Capital Group Ltd. * | | | 518 | | | | 38,804 | |
Globe Life, Inc. | | | 315 | | | | 34,522 | |
Progressive Corp. (The) | | | 106 | | | | 14,011 | |
| | | | | | | | |
| | | | | | | 87,337 | |
| | | | | | | | |
|
Interactive Media & Services - 2.2% | |
IAC, Inc. * | | | 423 | | | | 26,579 | |
| | | | | | | | |
|
Life Sciences Tools & Services - 1.5% | |
Bio-Rad Laboratories, Inc., Class A * | | | 48 | | | | 18,273 | |
| | | | | | | | |
|
Machinery - 1.9% | |
Otis Worldwide Corp. | | | 250 | | | | 22,264 | |
| | | | | | | | |
|
Media - 6.7% | |
Cable One, Inc. | | | 44 | | | | 28,695 | |
News Corp., Class A | | | 1,292 | | | | 25,188 | |
Omnicom Group, Inc. | | | 279 | | | | 26,518 | |
| | | | | | | | |
| | | | | | | 80,401 | |
| | | | | | | | |
|
Real Estate Management & Development - 1.2% | |
Jones Lang LaSalle, Inc. * | | | 91 | | | | 14,117 | |
| | | | | | | | |
|
Semiconductors & Semiconductor Equipment - 4.2% | |
Analog Devices, Inc. | | | 261 | | | | 50,777 | |
| | | | | | | | |
|
Software - 1.9% | |
Check Point Software Technologies Ltd. *(1) | | | 181 | | | | 22,726 | |
| | | | | | | | |
|
Specialized REITs - 4.3% | |
Lamar Advertising Co., Class A | | | 311 | | | | 30,916 | |
Public Storage | | | 69 | | | | 20,274 | |
| | | | | | | | |
| | | | | | | 51,190 | |
| | | | | | | | |
|
Specialty Retail - 2.0% | |
AutoNation, Inc. * | | | 149 | | | | 24,602 | |
| | | | | | | | |
|
Technology Hardware, Storage & Peripherals - 1.6% | |
NetApp, Inc. | | | 250 | | | | 19,075 | |
| | | | | | | | |
|
Trading Companies & Distributors - 1.7% | |
Air Lease Corp., Class A | | | 478 | | | | 20,010 | |
| | | | | | | | |
| |
Total common stocks (Cost $762,191) | | | | 1,181,130 | |
| | | | | |
|
SHORT-TERM INVESTMENT - 0.7% | |
|
INVESTMENT COMPANY - 0.7% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $8,506) | | | 8,506 | | | | 8,506 | |
| | | | | | | | |
Artisan Mid Cap Value Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
Total investments - 98.7% (Cost $770,697) | | | | | | | 1,189,636 | |
| | |
Other assets less liabilities - 1.3% | | | | | | | 15,763 | |
| | | | | | | | |
| | |
Total net assets - 100.0% # | | | | | | $ | 1,205,399 | |
| | | | | | | | |
(1) | The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications. |
| | | | | | | | |
Security | | Country | | | Trading Currency | |
CAE, Inc. | | | Canada | | | | USD | |
Check Point Software Technologies Ltd. | | | Israel | | | | USD | |
Godha Cabcon & Insulation Ltd. Escrow | | | India | | | | USD | |
(2) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $0, or 0.0% of total net assets. See notes (B) and (C) in the accompanying notes. |
(3) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
Artisan Mid Cap Value Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 147,925 | | | | 12.4 | % |
Consumer Discretionary | | | 164,120 | | | | 13.8 | |
Consumer Staples | | | 81,867 | | | | 6.9 | |
Energy | | | 25,835 | | | | 2.2 | |
Financials | | | 268,242 | | | | 22.6 | |
Health Care | | | 115,307 | | | | 9.7 | |
Industrials | | | 152,628 | | | | 12.8 | |
Information Technology | | | 132,154 | | | | 11.1 | |
Real Estate | | | 65,307 | | | | 5.5 | |
Utilities | | | 27,745 | | | | 2.3 | |
Short-Term Investment | | | 8,506 | | | | 0.7 | |
| | | | | | | | |
Total investments | | $ | 1,189,636 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Select Equity Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 90.2% | |
|
Automobiles - 3.9% | |
Harley-Davidson, Inc. | | | 43 | | | $ | 1,515 | |
| | | | | | | | |
|
Banks - 4.0% | |
Citigroup, Inc. | | | 34 | | | | 1,580 | |
| | | | | | | | |
|
Broadline Retail - 3.9% | |
Alibaba Group Holding Ltd., ADR*(1) | | | 18 | | | | 1,521 | |
| | | | | | | | |
|
Capital Markets - 6.2% | |
Bank of New York Mellon Corp. (The) | | | 37 | | | | 1,657 | |
Charles Schwab Corp. (The) | | | 14 | | | | 767 | |
| | | | | | | | |
| | | | | | | 2,424 | |
| | | | | | | | |
|
Chemicals - 5.2% | |
Axalta Coating Systems Ltd. * | | | 62 | | | | 2,022 | |
| | | | | | | | |
|
Construction Materials - 5.0% | |
HeidelbergCement AG(1)(2) | | | 24 | | | | 1,946 | |
| | | | | | | | |
|
Consumer Finance - 5.2% | |
American Express Co. | | | 12 | | | | 2,034 | |
| | | | | | | | |
|
Financial Services - 5.6% | |
Berkshire Hathaway, Inc., Class B * | | | 6 | | | | 2,181 | |
| | | | | | | | |
|
Food Products - 5.0% | |
Danone SA(1)(2) | | | 32 | | | | 1,952 | |
| | | | | | | | |
|
Health Care Equipment & Supplies - 4.6% | |
Dentsply Sirona, Inc. | | | 45 | | | | 1,791 | |
| | | | | | | | |
|
Health Care Providers & Services - 5.0% | |
Elevance Health, Inc. | | | 4 | | | | 1,935 | |
| | | | | | | | |
|
Hotels, Restaurants & Leisure - 8.1% | |
Aramark | | | 42 | | | | 1,809 | |
Expedia Group, Inc. * | | | 12 | | | | 1,363 | |
| | | | | | | | |
| | | | | | | 3,172 | |
| | | | | | | | |
|
Insurance - 6.8% | |
Marsh & McLennan Cos., Inc. | | | 6 | | | | 1,151 | |
Progressive Corp. (The) | | | 11 | | | | 1,514 | |
| | | | | | | | |
| | | | | | | 2,665 | |
| | | | | | | | |
|
Interactive Media & Services - 10.8% | |
Alphabet, Inc., Class A * | | | 17 | | | | 2,010 | |
Meta Platforms, Inc., Class A * | | | 8 | | | | 2,185 | |
| | | | | | | | |
| | | | | | | 4,195 | |
| | | | | | | | |
|
Passenger Airlines - 2.5% | |
Southwest Airlines Co. | | | 27 | | | | 980 | |
| | | | | | | | |
|
Semiconductors & Semiconductor Equipment - 3.0% | |
Lam Research Corp. | | | 2 | | | | 1,185 | |
| | | | | | | | |
|
Technology Hardware, Storage & Peripherals - 5.4% | |
Samsung Electronics Co. Ltd.(1)(2) | | | 38 | | | | 2,110 | |
| | | | | | | | |
| |
Total common stocks (Cost $30,140) | | | | 35,208 | |
| | | | | |
|
SHORT-TERM INVESTMENT - 9.4% | |
|
INVESTMENT COMPANY - 9.4% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $3,667) | | | 3,667 | | | | 3,667 | |
| | | | | | | | |
| |
Total investments - 99.6% (Cost $33,807) | | | | 38,875 | |
| |
Other assets less liabilities - 0.4% | | | | 141 | |
| | | | | |
| |
Total net assets - 100.0% # | | | $ | 39,016 | |
| | | | | |
Artisan Select Equity Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications. |
| | | | |
Security | | Country | | Trading Currency |
Alibaba Group Holding Ltd. | | China | | USD |
Danone SA | | France | | EUR |
HeidelbergCement AG | | Germany | | EUR |
Samsung Electronics Co. Ltd. | | South Korea | | KRW |
(2) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $6,008, or 15.4% of total net assets. See notes (B) and (C) in the accompanying notes. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 4,195 | | | | 10.8 | % |
Consumer Discretionary | | | 6,208 | | | | 16.0 | |
Consumer Staples | | | 1,952 | | | | 5.0 | |
Financials | | | 10,884 | | | | 28.0 | |
Health Care | | | 3,726 | | | | 9.6 | |
Industrials | | | 980 | | | | 2.5 | |
Information Technology | | | 3,295 | | | | 8.5 | |
Materials | | | 3,968 | | | | 10.2 | |
Short-Term Investment | | | 3,667 | | | | 9.4 | |
| | | | | | | | |
Total investments | | $ | 38,875 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
EUR | | $ | 3,898 | | | | 10.0 | % |
KRW | | | 2,110 | | | | 5.4 | |
USD | | | 32,867 | | | | 84.6 | |
| | | | | | | | |
Total investments | | $ | 38,875 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Small Cap Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 98.2% | |
|
Biotechnology - 20.8% | |
Argenx SE, ADR *(1) | | | 231 | | | $ | 90,163 | |
Ascendis Pharma A/S, ADR *(1) | | | 661 | | | | 58,973 | |
Avid Bioservices, Inc. * | | | 809 | | | | 11,298 | |
Denali Therapeutics, Inc. * | | | 226 | | | | 6,657 | |
Exact Sciences Corp. * | | | 449 | | | | 42,208 | |
Halozyme Therapeutics, Inc. * | | | 2,627 | | | | 94,744 | |
Iovance Biotherapeutics, Inc. * | | | 2,436 | | | | 17,147 | |
Twist Bioscience Corp. * | | | 1,000 | | | | 20,465 | |
Veracyte, Inc. * | | | 1,914 | | | | 48,762 | |
| | | | | | | | |
| | | | | | | 390,417 | |
| | | | | | | | |
|
Broadline Retail - 1.8% | |
Etsy, Inc. * | | | 177 | | | | 14,948 | |
Global-e Online Ltd. *(1) | | | 448 | | | | 18,356 | |
| | | | | | | | |
| | | | | | | 33,304 | |
| | | | | | | | |
|
Building Products - 2.2% | |
Advanced Drainage Systems, Inc. | | | 150 | | | | 17,120 | |
Trex Co., Inc. * | | | 381 | | | | 24,994 | |
| | | | | | | | |
| | | | | | | 42,114 | |
| | | | | | | | |
|
Capital Markets - 1.0% | |
MarketAxess Holdings, Inc. | | | 70 | | | | 18,394 | |
| | | | | | | | |
|
Construction & Engineering - 4.2% | |
Valmont Industries, Inc. | | | 270 | | | | 78,670 | |
| | | | | | | | |
|
Diversified Consumer Services - 0.7% | |
Duolingo, Inc. * | | | 90 | | | | 12,860 | |
| | | | | | | | |
|
Electrical Equipment - 1.9% | |
Generac Holdings, Inc. * | | | 77 | | | | 11,528 | |
Shoals Technologies Group, Inc., Class A * | | | 938 | | | | 23,963 | |
| | | | | | | | |
| | | | | | | 35,491 | |
| | | | | | | | |
|
Electronic Equipment, Instruments & Components - 3.7% | |
Novanta, Inc. * | | | 379 | | | | 69,743 | |
| | | | | | | | |
|
Financial Services - 0.5% | |
Shift4 Payments, Inc., Class A * | | | 125 | | | | 8,474 | |
| | | | | | | | |
|
Food Products - 0.6% | |
Freshpet, Inc. * | | | 177 | | | | 11,678 | |
| | | | | | | | |
|
Ground Transportation - 0.6% | |
Saia, Inc. * | | | 30 | | | | 10,423 | |
| | | | | | | | |
|
Health Care Equipment & Supplies - 7.7% | |
Envista Holdings Corp. * | | | 403 | | | | 13,651 | |
iRhythm Technologies, Inc. * | | | 257 | | | | 26,838 | |
Penumbra, Inc. * | | | 44 | | | | 14,987 | |
Shockwave Medical, Inc. * | | | 310 | | | | 88,371 | |
| | | | | | | | |
| | | | | | | 143,847 | |
| | | | | | | | |
|
Hotels, Restaurants & Leisure - 5.5% | |
Cava Group, Inc. * | | | 56 | | | | 2,276 | |
Papa John’s International, Inc. | | | 401 | | | | 29,598 | |
Wingstop, Inc. | | | 355 | | | | 71,047 | |
| | | | | | | | |
| | | | | | | 102,921 | |
| | | | | | | | |
|
Life Sciences Tools & Services - 1.5% | |
Repligen Corp. * | | | 205 | | | | 29,030 | |
| | | | | | | | |
|
Machinery - 1.9% | |
John Bean Technologies Corp. | | | 81 | | | | 9,811 | |
Kornit Digital Ltd. *(1) | | | 250 | | | | 7,339 | |
SPX Technologies, Inc. * | | | 221 | | | | 18,774 | |
| | | | | | | | |
| | | | | | | 35,924 | |
| | | | | | | | |
|
Professional Services - 2.7% | |
Ceridian HCM Holding, Inc. * | | | 503 | | | | 33,684 | |
Paycor HCM, Inc. * | | | 712 | | | | 16,843 | |
| | | | | | | | |
| | | | | | | 50,527 | |
| | | | | | | | |
|
Semiconductors & Semiconductor Equipment - 16.6% | |
Allegro MicroSystems, Inc. *(1) | | | 925 | | | | 41,763 | |
Ambarella, Inc. * | | | 135 | | | | 11,325 | |
Lattice Semiconductor Corp. * | | | 1,618 | | | | 155,442 | |
MACOM Technology Solutions Holdings, Inc. * | | | 327 | | | | 21,439 | |
Monolithic Power Systems, Inc. | | | 144 | | | | 77,756 | |
Rambus, Inc. * | | | 70 | | | | 4,485 | |
| | | | | | | | |
| | | | | | | 312,210 | |
| | | | | | | | |
|
Software - 20.4% | |
Bentley Systems, Inc., Class B | | | 744 | | | | 40,371 | |
Blackline, Inc. * | | | 889 | | | | 47,829 | |
Clearwater Analytics Holdings, Inc., Class A * | | | 1,297 | | | | 20,576 | |
DoubleVerify Holdings, Inc. * | | | 1,193 | | | | 46,445 | |
Guidewire Software, Inc. * | | | 754 | | | | 57,330 | |
HashiCorp, Inc., Class A * | | | 461 | | | | 12,082 | |
HubSpot, Inc. * | | | 35 | | | | 18,708 | |
Model N, Inc. * | | | 195 | | | | 6,895 | |
Olo, Inc., Class A * | | | 1,132 | | | | 7,312 | |
Procore Technologies, Inc. * | | | 112 | | | | 7,262 | |
Smartsheet, Inc., Class A * | | | 223 | | | | 8,520 | |
Sprout Social, Inc., Class A * | | | 220 | | | | 10,178 | |
Tyler Technologies, Inc. * | | | 117 | | | | 48,891 | |
Workiva, Inc., Class A * | | | 494 | | | | 50,182 | |
| | | | | | | | |
| | | | | | | 382,581 | |
| | | | | | | | |
|
Specialty Retail - 3.2% | |
Five Below, Inc. * | | | 114 | | | | 22,460 | |
Floor & Decor Holdings, Inc., Class A * | | | 367 | | | | 38,186 | |
| | | | | | | | |
| | | | | | | 60,646 | |
| | | | | | | | |
|
Textiles, Apparel & Luxury Goods - 0.7% | |
Crocs, Inc. * | | | 112 | | | | 12,647 | |
| | | | | | | | |
| |
Total common stocks (Cost $1,193,309) | | | | 1,841,901 | |
| | | | | |
| |
Total investments - 98.2% (Cost $1,193,309) | | | | 1,841,901 | |
| |
Other assets less liabilities - 1.8% | | | | 33,822 | |
| | | | | |
| |
Total net assets - 100.0% # | | | $ | 1,875,723 | |
| | | | | |
Artisan Small Cap Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications. |
| | | | |
Security | | Country | | Trading Currency |
Allegro MicroSystems, Inc. | | Japan | | USD |
Argenx SE | | Netherlands | | USD |
Ascendis Pharma A/S | | Denmark | | USD |
Global-e Online Ltd. | | Israel | | USD |
Kornit Digital Ltd. | | Israel | | USD |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Consumer Discretionary | | $ | 222,378 | | | | 12.1 | % |
Consumer Staples | | | 11,678 | | | | 0.6 | |
Financials | | | 26,869 | | | | 1.5 | |
Health Care | | | 563,293 | | | | 30.6 | |
Industrials | | | 253,149 | | | | 13.7 | |
Information Technology | | | 764,534 | | | | 41.5 | |
| | | | | | | | |
Total investments | | $ | 1,841,901 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Sustainable Emerging Markets Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 94.1% | |
|
Argentina - 0.2% | |
Loma Negra Cia Industrial Argentina SA, ADR | | | 30 | | | $ | 203 | |
| | | | | | | | |
|
Brazil - 10.5% | |
Aeris Industria E Comercio De Equipamentos Para Geracao De Energia SA * | | | 762 | | | | 210 | |
GPS Participacoes e Empreendimentos SA (1) | | | 616 | | | | 2,173 | |
Itau Unibanco Holding SA (Preference) | | | 354 | | | | 2,097 | |
Lojas Renner SA | | | 234 | | | | 978 | |
MercadoLibre, Inc. * | | | 2 | | | | 2,502 | |
Vale SA | | | 128 | | | | 1,715 | |
| | | | | | | | |
| | | | | | | 9,675 | |
| | | | | | | | |
|
Chile - 2.1% | |
Empresa Nacional de Telecomunicaciones SA | | | 232 | | | | 932 | |
Vina Concha y Toro SA | | | 888 | | | | 1,034 | |
| | | | | | | | |
| | | | | | | 1,966 | |
| | | | | | | | |
|
China - 22.3% | |
Alibaba Group Holding Ltd. *(2) | | | 289 | | | | 3,003 | |
Baidu, Inc., Class A *(2) | | | 79 | | | | 1,354 | |
China Traditional Chinese Medicine Holdings Co. Ltd. (2) | | | 5,039 | | | | 2,355 | |
Estun Automation Co. Ltd., Class A *(2) | | | 732 | | | | 2,830 | |
Kingsoft Cloud Holdings Ltd., ADR *(6) | | | 68 | | | | 414 | |
NIO, Inc., ADR * | | | 62 | | | | 598 | |
Noah Holdings Ltd., ADR | | | 28 | | | | 390 | |
Prosus NV *(2) | | | 32 | | | | 2,342 | |
Tongwei Co. Ltd., Class A (2) | | | 117 | | | | 553 | |
Trip.com Group Ltd. *(2) | | | 35 | | | | 1,232 | |
Wuhan Raycus Fiber Laser Technologies Co. Ltd., Class A *(2) | | | 240 | | | | 1,006 | |
Wuxi Biologics Cayman, Inc. *(2)(3) | | | 353 | | | | 1,701 | |
Xiabuxiabu Catering Management China Holdings Co. Ltd. (2)(3) | | | 1,010 | | | | 477 | |
Zhuzhou CRRC Times Electric Co. Ltd., Class H (2) | | | 641 | | | | 2,397 | |
| | | | | | | | |
| | | | | | | 20,652 | |
| | | | | | | | |
|
Greece - 2.9% | |
Alpha Services & Holdings SA *(2) | | | 677 | | | | 1,110 | |
Mytilineos SA (2) | | | 46 | | | | 1,608 | |
| | | | | | | | |
| | | | | | | 2,718 | |
| | | | | | | | |
|
Hong Kong - 1.5% | |
AIA Group Ltd. (2) | | | 134 | | | | 1,372 | |
| | | | | | | | |
|
India - 9.5% | |
Havells India Ltd. (2) | | | 102 | | | | 1,595 | |
ICICI Bank Ltd. (2) | | | 272 | | | | 3,105 | |
Infosys Ltd. (2) | | | 106 | | | | 1,717 | |
Reliance Industries Ltd. (2) | | | 77 | | | | 2,396 | |
| | | | | | | | |
| | | | | | | 8,813 | |
| | | | | | | | |
|
Indonesia - 2.3% | |
Bank Rakyat Indonesia Persero Tbk. PT (2) | | | 3,877 | | | | 1,409 | |
Indofood CBP Sukses Makmur Tbk. PT (2) | | | 1,007 | | | | 761 | |
| | | | | | | | |
| | | | | | | 2,170 | |
| | | | | | | | |
|
Kazakhstan - 1.9% | |
Kaspi.KZ JSC, GDR (2)(3) | | | 22 | | | | 1,766 | |
| | | | | | | | |
|
Malaysia - 1.7% | |
Frontken Corp. Bhd. (2) | | | 960 | | | | 650 | |
Public Bank Bhd. (2) | | | 1,153 | | | | 953 | |
| | | | | | | | |
| | | | | | | 1,603 | |
| | | | | | | | |
|
Mexico - 3.1% | |
Cemex SAB de CV * | | | 1,519 | | | | 1,074 | |
Gentera SAB de CV | | | 964 | | | | 1,031 | |
Vista Energy SAB de CV, ADR * | | | 33 | | | | 794 | |
| | | | | | | | |
| | | | | | | 2,899 | |
| | | | | | | | |
|
Peru - 1.3% | |
Credicorp Ltd. | | | 8 | | | | 1,171 | |
| | | | | | | | |
|
Poland - 1.1% | |
InPost SA *(2) | | | 93 | | | | 1,013 | |
| | | | | | | | |
|
Russia - 0.0% | |
LUKOIL PJSC, ADR *(2)(4)(5) | | | 19 | | | | — | |
MMC Norilsk Nickel PJSC, ADR *(2)(4)(5) | | | 39 | | | | — | |
Sberbank of Russia PJSC (2)(4)(5) | | | 265 | | | | — | |
| | | | | | | | |
| | | | | | | — | |
| | | | | | | | |
|
Singapore - 0.4% | |
Sea Ltd., ADR * | | | 7 | | | | 387 | |
| | | | | | | | |
|
South Africa - 3.1% | |
FirstRand Ltd. (2) | | | 393 | | | | 1,434 | |
MTN Group Ltd. (2) | | | 189 | | | | 1,390 | |
| | | | | | | | |
| | | | | | | 2,824 | |
| | | | | | | | |
|
South Korea - 11.5% | |
HYBE Co. Ltd. *(2) | | | 7 | | | | 1,472 | |
Samsung Biologics Co. Ltd. *(2)(3) | | | 3 | | | | 1,464 | |
Samsung Electronics Co. Ltd. (2) | | | 124 | | | | 6,842 | |
Shinhan Financial Group Co. Ltd. (2) | | | 32 | | | | 822 | |
| | | | | | | | |
| | | | | | | 10,600 | |
| | | | | | | | |
|
Taiwan - 15.0% | |
E Ink Holdings, Inc. (2) | | | 342 | | | | 2,489 | |
MediaTek, Inc. (2) | | | 106 | | | | 2,348 | |
Taiwan Semiconductor Manufacturing Co. Ltd. (2) | | | 483 | | | | 8,994 | |
| | | | | | | | |
| | | | | | | 13,831 | |
| | | | | | | | |
|
Thailand - 0.7% | |
Bangkok Bank PCL (2) | | | 154 | | | | 696 | |
| | | | | | | | |
|
United Arab Emirates - 0.7% | |
ADNOC Logistics & Services *(2) | | | 190 | | | | 158 | |
Artisan Sustainable Emerging Markets Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
Americana Restaurants International plc (2) | | | 421 | | | | 484 | |
| | | | | | | | |
| | | | | | | 642 | |
| | | | | | | | |
|
United States - 1.0% | |
Globant SA * | | | 5 | | | | 890 | |
| | | | | | | | |
|
Vietnam - 1.3% | |
Vietnam Technological & Commercial Joint Stock Bank *(2) | | | 879 | | | | 1,208 | |
| | | | | | | | |
| |
Total common stocks (Cost $73,631) | | | | 87,099 | |
| | | | | |
|
SHORT-TERM INVESTMENT - 4.5% | |
|
INVESTMENT COMPANY - 4.5% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97%(7) (Cost $4,125) | | | 4,125 | | | | 4,125 | |
| | | | | | | | |
| |
Total investments - 98.6% (Cost $77,756) | | | | 91,224 | |
| |
Other assets less liabilities - 1.4% | | | | 1,257 | |
| | | | | |
| |
Total net assets - 100.0% # | | | $ | 92,481 | |
| | | | | |
(1) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers. |
(2) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $68,506, or 74.1% of total net assets. See notes (B) and (C) in the accompanying notes. |
(3) | Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $5,408 or 5.8% of net assets. |
(4) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(5) | Security is restricted. |
| | | | | | | | | | | | | | |
Security | | Acquisition Date | | Cost | | | Value | | | Percentage of Total Net Assets | |
LUKOIL PJSC | | 11/27/2008 - 12/23/2021 | | $ | 1,026 | | | $ | — | | | | 0.0 | % |
MMC Norilsk Nickel PJSC | | 09/25/2013 - 12/23/2021 | | | 737 | | | | — | | | | 0.0 | % |
Sberbank of Russia PJSC | | 01/08/2019 - 03/25/2020 | | | 772 | | | | — | | | | 0.0 | % |
(6) | All or a portion of security is on loan at June 30, 2023. |
(7) | Security is partially used as collateral for securities lending. At June 30, 2023, the Portfolio had loaned securities with a total value of $361. This was collateralized by cash of $369 which was subsequently invested in an investment company. |
Artisan Sustainable Emerging Markets Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 5,535 | | | | 6.1 | % |
Consumer Discretionary | | | 11,616 | | | | 12.7 | |
Consumer Staples | | | 1,795 | | | | 2.0 | |
Energy | | | 3,348 | | | | 3.7 | |
Financials | | | 18,564 | | | | 20.3 | |
Health Care | | | 5,520 | | | | 6.0 | |
Industrials | | | 12,476 | | | | 13.7 | |
Information Technology | | | 25,253 | | | | 27.7 | |
Materials | | | 2,992 | | | | 3.3 | |
Short-Term Investment | | | 4,125 | | | | 4.5 | |
| | | | | | | | |
Total investments | | $ | 91,224 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
AED | | $ | 642 | | | | 0.7 | % |
BRL | | | 7,173 | | | | 7.9 | |
CLP | | | 1,966 | | | | 2.1 | |
CNY | | | 4,389 | | | | 4.8 | |
EUR | | | 6,073 | | | | 6.6 | |
HKD | | | 13,891 | | | | 15.2 | |
IDR | | | 2,170 | | | | 2.4 | |
INR | | | 8,813 | | | | 9.7 | |
KRW | | | 10,600 | | | | 11.6 | |
MXN | | | 2,105 | | | | 2.3 | |
MYR | | | 1,603 | | | | 1.8 | |
RUB | | | — | | | | 0.0 | |
THB | | | 696 | | | | 0.8 | |
TWD | | | 13,831 | | | | 15.2 | |
USD | | | 13,240 | | | | 14.5 | |
VND | | | 1,208 | | | | 1.3 | |
ZAR | | | 2,824 | | | | 3.1 | |
| | | | | | | | |
Total investments | | $ | 91,224 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Value Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 94.6% | |
|
Aerospace & Defense - 7.2% | |
Airbus SE (1)(2) | | | 59 | | | $ | 8,551 | |
Northrop Grumman Corp. | | | 10 | | | | 4,578 | |
Safran SA (1)(2) | | | 50 | | | | 7,907 | |
| | | | | | | | |
| | | | | | | 21,036 | |
| | | | | | | | |
|
Air Freight & Logistics - 3.5% | |
FedEx Corp. | | | 42 | | | | 10,310 | |
| | | | | | | | |
|
Banks - 7.6% | |
Bank of America Corp. | | | 248 | | | | 7,120 | |
PNC Financial Services Group, Inc. (The) | | | 57 | | | | 7,211 | |
US Bancorp | | | 239 | | | | 7,888 | |
| | | | | | | | |
| | | | | | | 22,219 | |
| | | | | | | | |
|
Beverages - 2.6% | |
Heineken Holding NV (1)(2) | | | 86 | | | | 7,485 | |
| | | | | | | | |
|
Capital Markets - 6.6% | |
CME Group, Inc. | | | 37 | | | | 6,825 | |
Goldman Sachs Group, Inc. (The) | | | 18 | | | | 5,718 | |
Morgan Stanley | | | 79 | | | | 6,773 | |
| | | | | | | | |
| | | | | | | 19,316 | |
| | | | | | | | |
|
Energy Equipment & Services - 2.9% | |
Schlumberger Ltd. | | | 171 | | | | 8,388 | |
| | | | | | | | |
|
Entertainment - 7.6% | |
Electronic Arts, Inc. | | | 42 | | | | 5,457 | |
Netflix, Inc. * | | | 18 | | | | 8,101 | |
Walt Disney Co. (The) * | | | 62 | | | | 5,504 | |
Warner Bros Discovery, Inc. * | | | 255 | | | | 3,196 | |
| | | | | | | | |
| | | | | | | 22,258 | |
| | | | | | | | |
|
Financial Services - 7.0% | |
Berkshire Hathaway, Inc., Class B * | | | 16 | | | | 5,569 | |
Fiserv, Inc. * | | | 54 | | | | 6,810 | |
Visa, Inc., Class A | | | 35 | | | | 8,256 | |
| | | | | | | | |
| | | | | | | 20,635 | |
| | | | | | | | |
|
Health Care Equipment & Supplies - 7.2% | |
Baxter International, Inc. | | | 167 | | | | 7,624 | |
Koninklijke Philips NV *(1)(2) | | | 266 | | | | 5,759 | |
Medtronic plc | | | 89 | | | | 7,865 | |
| | | | | | | | |
| | | | | | | 21,248 | |
| | | | | | | | |
|
Health Care Providers & Services - 2.6% | |
Cigna Group (The) | | | 27 | | | | 7,585 | |
| | | | | | | | |
|
Hotels, Restaurants & Leisure - 7.8% | |
Booking Holdings, Inc. * | | | 2 | | | | 6,500 | |
Compass Group plc (1)(2) | | | 310 | | | | 8,676 | |
Marriott International, Inc., Class A | | | 41 | | | | 7,573 | |
| | | | | | | | |
| | | | | | | 22,749 | |
| | | | | | | | |
|
Insurance - 3.4% | |
Arch Capital Group Ltd. * | | | 133 | | | | 9,951 | |
| | | | | | | | |
|
Interactive Media & Services - 8.6% | |
Alphabet, Inc., Class C * | | | 95 | | | | 11,433 | |
Meta Platforms, Inc., Class A * | | | 48 | | | | 13,719 | |
| | | | | | | | |
| | | | | | | 25,152 | |
| | | | | | | | |
|
Media - 3.3% | |
Comcast Corp., Class A | | | 235 | | | | 9,768 | |
| | | | | | | | |
|
Oil, Gas & Consumable Fuels - 2.9% | |
EOG Resources, Inc. | | | 74 | | | | 8,485 | |
| | | | | | | | |
|
Pharmaceuticals - 2.0% | |
Merck & Co., Inc. | | | 52 | | | | 5,983 | |
| | | | | | | | |
|
Semiconductors & Semiconductor Equipment - 1.5% | |
NXP Semiconductors NV (1) | | | 22 | | | | 4,493 | |
| | | | | | | | |
|
Specialty Retail - 1.4% | |
AutoNation, Inc. * | | | 26 | | | | 4,221 | |
| | | | | | | | |
|
Technology Hardware, Storage & Peripherals - 2.3% | |
Samsung Electronics Co. Ltd. (Preference) (1)(2) | | | 151 | | | | 6,844 | |
| | | | | | | | |
|
Tobacco - 4.9% | |
Altria Group, Inc. | | | 144 | | | | 6,536 | |
Philip Morris International, Inc. | | | 80 | | | | 7,831 | |
| | | | | | | | |
| | | | | | | 14,367 | |
| | | | | | | | |
|
Trading Companies & Distributors - 1.7% | |
Air Lease Corp., Class A | | | 120 | | | | 5,027 | |
| | | | | | | | |
| |
Total common stocks (Cost $188,908) | | | | 277,520 | |
| | | | | |
|
SHORT-TERM INVESTMENT - 4.9% | |
|
INVESTMENT COMPANY - 4.9% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $14,504) | | | 14,504 | | | | 14,504 | |
| | | | | | | | |
| |
Total investments - 99.5% (Cost $203,412) | | | | 292,024 | |
| |
Other assets less liabilities - 0.5% | | | | 1,533 | |
| | | | | |
| |
Total net assets - 100.0% # | | | $ | 293,557 | |
| | | | | |
Artisan Value Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications. |
| | | | |
Security | | Country | | Trading Currency |
Airbus SE | | France | | EUR |
Compass Group plc | | United Kingdom | | GBP |
Heineken Holding NV | | Netherlands | | EUR |
Koninklijke Philips NV | | Netherlands | | EUR |
NXP Semiconductors NV | | China | | USD |
Safran SA | | France | | EUR |
Samsung Electronics Co. Ltd. | | South Korea | | KRW |
(2) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $45,222, or 15.4% of total net assets. See notes (B) and (C) in the accompanying notes. |
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 57,177 | | | | 19.6 | % |
Consumer Discretionary | | | 26,971 | | | | 9.2 | |
Consumer Staples | | | 21,852 | | | | 7.5 | |
Energy | | | 16,872 | | | | 5.8 | |
Financials | | | 72,121 | | | | 24.7 | |
Health Care | | | 34,816 | | | | 11.8 | |
Industrials | | | 36,373 | | | | 12.5 | |
Information Technology | | | 11,338 | | | | 3.9 | |
Short-Term Investment | | | 14,504 | | | | 5.0 | |
| | | | | | | | |
Total investments | | $ | 292,024 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
EUR | | $ | 29,702 | | | | 10.2 | % |
GBP | | | 8,676 | | | | 3.0 | |
KRW | | | 6,844 | | | | 2.3 | |
USD | | | 246,802 | | | | 84.5 | |
| | | | | | | | |
Total investments | | $ | 292,024 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Artisan Value Income Fund
Schedule of Investments
June 30, 2023 (Unaudited)
Principal amount, shares and dollar values in thousands
| | | | | | | | |
| | Shares Held | | | Value | |
COMMON STOCKS - 86.0% | |
|
Aerospace & Defense - 3.3% | |
Airbus SE (1)(2) | | | 1 | | | $ | 169 | |
Safran SA (1)(2) | | | 1 | | | | 195 | |
| | | | | | | | |
| | | | | | | 364 | |
| | | | | | | | |
|
Banks - 10.7% | |
Bank of America Corp. | | | 7 | | | | 208 | |
Comerica, Inc. | | | 2 | | | | 102 | |
Fifth Third Bancorp | | | 5 | | | | 140 | |
M&T Bank Corp. | | | 1 | | | | 181 | |
PNC Financial Services Group, Inc. (The) | | | 2 | | | | 189 | |
US Bancorp | | | 6 | | | | 203 | |
Washington Federal, Inc. | | | 6 | | | | 166 | |
| | | | | | | | |
| | | | | | | 1,189 | |
| | | | | | | | |
|
Beverages - 4.7% | |
Coca-Cola Co. (The) | | | 4 | | | | 215 | |
Heineken Holding NV (1)(2) | | | 4 | | | | 313 | |
| | | | | | | | |
| | | | | | | 528 | |
| | | | | | | | |
|
Capital Markets - 5.4% | |
CME Group, Inc. | | | 1 | | | | 246 | |
Moelis & Co., Class A | | | 4 | | | | 178 | |
Morgan Stanley | | | 2 | | | | 176 | |
| | | | | | | | |
| | | | | | | 600 | |
| | | | | | | | |
|
Consumer Staples Distribution & Retail - 1.3% | |
Sysco Corp. | | | 2 | | | | 145 | |
| | | | | | | | |
|
Diversified Consumer Services - 1.3% | |
H&R Block, Inc. (3) | | | 5 | | | | 147 | |
| | | | | | | | |
|
Electric Utilities - 6.4% | |
IDACORP, Inc. | | | 1 | | | | 145 | |
OGE Energy Corp. | | | 6 | | | | 231 | |
Portland General Electric Co. (3) | | | 3 | | | | 150 | |
PPL Corp. | | | 7 | | | | 189 | |
| | | | | | | | |
| | | | | | | 715 | |
| | | | | | | | |
|
Electrical Equipment - 2.5% | |
nVent Electric plc | | | 5 | | | | 281 | |
| | | | | | | | |
|
Financial Services - 3.9% | |
Corebridge Financial, Inc. | | | 11 | | | | 201 | |
Visa, Inc., Class A | | | 1 | | | | 227 | |
| | | | | | | | |
| | | | | | | 428 | |
| | | | | | | | |
|
Food Products - 2.0% | |
Tyson Foods, Inc., Class A | | | 4 | | | | 221 | |
| | | | | | | | |
|
Gas Utilities - 1.7% | |
Atmos Energy Corp. | | | 2 | | | | 189 | |
| | | | | | | | |
|
Health Care Equipment & Supplies - 6.4% | |
Baxter International, Inc. | | | 5 | | | | 241 | |
Koninklijke Philips NV *(1)(2) | | | 7 | | | | 161 | |
Medtronic plc | | | 4 | | | | 312 | |
| | | | | | | | |
| | | | | | | 714 | |
| | | | | | | | |
|
Health Care REITs - 1.3% | |
Universal Health Realty Income Trust | | | 3 | | | | 141 | |
| | | | | | | | |
|
Hotels, Restaurants & Leisure - 4.1% | |
Compass Group plc (1)(2) | | | 9 | | | | 251 | |
Vail Resorts, Inc. | | | 1 | | | | 203 | |
| | | | | | | | |
| | | | | | | 454 | |
| | | | | | | | |
|
Machinery - 2.5% | |
Otis Worldwide Corp. | | | 3 | | | | 277 | |
| | | | | | | | |
|
Media - 7.4% | |
Cable One, Inc. | | | –^ | | | | 184 | |
Comcast Corp., Class A | | | 10 | | | | 402 | |
Omnicom Group, Inc. | | | 2 | | | | 231 | |
| | | | | | | | |
| | | | | | | 817 | |
| | | | | | | | |
|
Oil, Gas & Consumable Fuels - 2.5% | |
EOG Resources, Inc. | | | 2 | | | | 283 | |
| | | | | | | | |
|
Pharmaceuticals - 1.8% | |
Merck & Co., Inc. | | | 2 | | | | 201 | |
| | | | | | | | |
|
Specialized REITs - 5.6% | |
Lamar Advertising Co., Class A | | | 4 | | | | 377 | |
Public Storage | | | 1 | | | | 246 | |
| | | | | | | | |
| | | | | | | 623 | |
| | | | | | | | |
|
Technology Hardware, Storage & Peripherals - 4.7% | |
NetApp, Inc. | | | 3 | | | | 252 | |
Samsung Electronics Co. Ltd. (Preference) (1)(2) | | | 6 | | | | 267 | |
| | | | | | | | |
| | | | | | | 519 | |
| | | | | | | | |
|
Tobacco - 6.5% | |
Altria Group, Inc. | | | 8 | | | | 357 | |
Philip Morris International, Inc. | | | 4 | | | | 366 | |
| | | | | | | | |
| | | | | | | 723 | |
| | | | | | | | |
Total common stocks (Cost $9,770) | | | | 9,559 | |
| | | | | |
| | |
| | Principal Amount | | | | |
CORPORATE BONDS - 6.5% | |
|
Aerospace & Defense - 2.0% | |
Boeing Co. (The) 1.43%, 2/4/2024 | | $ | 227 | | | | 221 | |
| | | | | | | | |
|
Banks - 1.7% | |
M&T Bank Corp. Series E, (ICE LIBOR USD 3 Month + 3.61%), 6.45%, 2/15/2024 (4)(5) | | | 116 | | | | 107 | |
Wells Fargo & Co. Series S, 5.90%, 6/15/2024 (4) | | | 84 | | | | 83 | |
| | | | | | | | |
| | | | | | | 190 | |
| | | | | | | | |
|
Broadline Retail - 1.4% | |
ANGI Group LLC 3.88%, 8/15/2028 (6) | | | 188 | | | | 154 | |
| | | | | | | | |
Artisan Value Income Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
Principal amount, shares and dollar values in thousands
| | | | | | | | |
|
Trading Companies & Distributors - 1.4% | |
Air Lease Corp. Series C, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.15%), 4.12%, 12/15/2026 (4)(5) | | | 238 | | | | 155 | |
| | | | | | | | |
| |
Total corporate bonds (Cost $758) | | | | 720 | |
| | | | | |
|
CONVERTIBLE BONDS - 2.5% | |
|
Media - 1.2% | |
Cable One, Inc. | | | | | |
Zero Coupon, 3/15/2026 | | | 87 | | | | 71 | |
1.13%, 3/15/2028 | | | 79 | | | | 59 | |
| | | | | | | | |
| | | | | | | 130 | |
| | | | | | | | |
|
Mortgage Real Estate Investment Trusts (REITs) - 1.3% | |
Redwood Trust, Inc. 7.75%, 6/15/2027 | | | 178 | | | | 150 | |
| | | | | | | | |
| |
Total convertible bonds (Cost $307) | | | | 280 | |
| | | | | |
| | |
| | Shares Held | | | | |
SHORT-TERM INVESTMENTS - 4.3% | |
|
INVESTMENT COMPANIES - 4.3% | |
BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% | | | 161 | | | | 161 | |
Federated Treasury Obligations Fund - Institutional Class, 4.96% | | | 157 | | | | 157 | |
Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 5.03% | | | 156 | | | | 156 | |
| | | | | | | | |
| |
Total short-term investments (Cost $474) | | | | 474 | |
| | | | | |
| |
Total investments - 99.3% (Cost $11,309) | | | | 11,033 | |
| |
WRITTEN OPTION CONTRACTS - (0.2)% (Premiums received $(11)) | | | | (19 | ) |
| |
Other assets less liabilities - 0.9% | | | | 95 | |
| | | | | |
| |
Total net assets - 100.0% # | | | $ | 11,109 | |
| | | | | |
Artisan Value Income Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
(1) | The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications. |
| | | | |
Security | | Country | | Trading Currency |
Airbus SE | | France | | EUR |
Compass Group plc | | United Kingdom | | GBP |
Heineken Holding NV | | Netherlands | | EUR |
Koninklijke Philips NV | | Netherlands | | EUR |
Safran SA | | France | | EUR |
Samsung Electronics Co. Ltd. | | South Korea | | KRW |
(2) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $1,356, or 12.2% of total net assets. See notes (B) and (C) in the accompanying notes. |
(3) | At June 30, 2023, all or a portion of this security was pledged to cover collateral requirements for written options. |
(4) | Perpetual security. The rate reflected was the rate in effect on June 30, 2023. The maturity date reflects the next call date. |
(5) | Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2023. |
(6) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers. |
WRITTEN OPTION CONTRACTS
Call Options
Dollar values in thousands except exercise price
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Number of Contracts‡ | | Description | | Exercise Price | | | Notional Amount | | | Expiration Date | | | Premiums Paid/(Received) by Fund | | | Value | | | Unrealized Appreciation/ (Depreciation) | |
2 | | Airbus SE | | | EUR 140.00 | | | $ | 26 | | | | 12/15/23 | | | $ | (1 | ) | | $ | (1 | ) | | $ | — | ^ |
1 | | Compass Group plc | | | GBP 23.00 | | | | 22 | | | | 10/20/23 | | | | (1 | ) | | | (1 | ) | | | — | ^ |
6 | | Moelis & Co. | | $ | 45.00 | | | | 27 | | | | 8/18/23 | | | | (2 | ) | | | (2 | ) | | | — | ^ |
5 | | NetApp, Inc. | | | 70.00 | | | | 38 | | | | 9/15/23 | | | | (1 | ) | | | (4 | ) | | | (3 | ) |
6 | | nVent Electric plc | | | 45.00 | | | | 31 | | | | 8/18/23 | | | | (1 | ) | | | (5 | ) | | | (4 | ) |
5 | | nVent Electric plc | | | 50.00 | | | | 26 | | | | 11/17/23 | | | | (2 | ) | | | (2 | ) | | | — | ^ |
5 | | Omnicom Group, Inc. | | | 95.00 | | | | 48 | | | | 1/19/24 | | | | (3 | ) | | | (4 | ) | | | (1 | ) |
1 | | Safran SA | | | EUR 150.00 | | | | 14 | | | | 9/15/23 | | | | — | ^ | | | — | ^ | | | — | ^ |
1 | | Visa, Inc. | | | 250.00 | | | | 24 | | | | 9/15/23 | | | | — | ^ | | | — | ^ | | | — | ^ |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Total written option contracts | | | $ | (11 | ) | | $ | (19 | ) | | $ | (8 | ) |
| | | | | | | | | | | | | |
Artisan Value Income Fund
Schedule of Investments (continued)
June 30, 2023 (Unaudited)
PORTFOLIO DIVERSIFICATION
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
Communication Services | | $ | 947 | | | | 8.6 | % |
Consumer Discretionary | | | 754 | | | | 6.8 | |
Consumer Staples | | | 1,617 | | | | 14.6 | |
Energy | | | 283 | | | | 2.6 | |
Financials | | | 2,559 | | | | 23.2 | |
Health Care | | | 915 | | | | 8.3 | |
Industrials | | | 1,297 | | | | 11.8 | |
Information Technology | | | 519 | | | | 4.7 | |
Real Estate | | | 764 | | | | 6.9 | |
Utilities | | | 904 | | | | 8.2 | |
Short-Term Investments | | | 474 | | | | 4.3 | |
| | | | | | | | |
Total investments | | $ | 11,033 | | | | 100.0 | % |
| | | | | | | | |
TRADING CURRENCIES
Dollar values in thousands
| | | | | | | | |
| | Value | | | Percentage of Total Investments | |
EUR | | $ | 837 | | | | 7.6 | % |
GBP | | | 251 | | | | 2.3 | |
KRW | | | 267 | | | | 2.4 | |
USD | | | 9,678 | | | | 87.7 | |
| | | | | | | | |
Total investments | | $ | 11,033 | | | | 100.0 | % |
| | | | | | | | |
Definitions of abbreviations and footnotes are detailed on page 1.
See notes to N-PORT Part F.
Notes to N-PORT Part F – June 30, 2023 (UNAUDITED)
As of June 30, 2023, Artisan Partners Funds, Inc. (“Artisan Partners Funds”) is a series company comprised of twenty-one series and follows specialized accounting and reporting under FASB Accounting Standards Codification Topic 946, Financial Services – Investment Companies.
(A) Investments in Subsidiaries:
Emerging Markets Debt Opportunities Fund and Global Unconstrained Fund may make investments in securities, derivatives and other instruments, directly or through investments in Artisan Emerging Markets Debt Opportunities Subsidiary Ltd. and Artisan Global Unconstrained Subsidiary Ltd., respectively, each a wholly owned subsidiary of the respective Fund organized under the laws of the Cayman Islands (each referred to herein as the “Subsidiary” or collectively the “Subsidiaries”). The consolidated Schedules of Investments include the holdings of the Fund and its Subsidiary. All intercompany transactions and balances have been eliminated. As of June 30, 2023, Artisan Emerging Markets Debt Opportunities Subsidiary Ltd. had $1,150,015 in net assets, representing 3.49% of Emerging Markets Debt Opportunities Fund’s net assets and Artisan Global Unconstrained Subsidiary Ltd. had $965,298 in net assets, representing 3.64% of Global Unconstrained Fund’s net assets.
(B) Valuation:
The net asset value (“NAV”) of the shares of each class of each Fund was determined as of the close of regular session trading on the New York Stock Exchange (“NYSE”) (usually 4:00 p.m., Eastern Time) each day the NYSE was open for regular session trading. For financial reporting purposes, information available subsequent to the close of NYSE trading and up to the date of the financial statements was considered in determining a fair value for investments held in each Fund and the resulting NAV presented.
In determining each Fund’s NAV for financial reporting purposes, each equity security and exchange traded fund (“ETF”) traded on a securities exchange or over-the-counter was valued at the closing price on the exchange or market designated by the Funds’ accounting agent or pricing vendor as the principal exchange (each, a “principal exchange”). The closing price provided by the pricing vendor for an exchange may differ from the price quoted elsewhere and may represent information such as last sales price, an official closing price, a closing auction price or other information, depending on exchange or market convention. Absent closing price information for an equity security from the principal exchange, the security was valued using (i) the closing price on another exchange on which the security traded (if such price was made available by a pricing vendor) or (ii) the most recent bid quotation on the principal exchange or, if such bid was not available, from a secondary exchange or in the over-the-counter market. Equity-linked securities, such as participation certificates, participation notes or access notes, are valued by referencing the underlying security if market quotations are not readily available. Repurchase agreements and reverse repurchase agreements are valued at cost plus accrued interest. Exchange traded
Notes to N-PORT Part F – June 30, 2023 (UNAUDITED) - (continued)
option contracts were valued at the mid price (average of the bid price and ask price) as provided by the pricing vendor at the close of trading on the contract’s principal exchange. Exchange traded futures contracts were valued at the settlement price as provided by the pricing vendor at the close of trading on the principal exchange. Over-the-counter derivatives (including total return swaps, over-the-counter options on total return swaps, and certain other derivatives) are valued using prices provided by the Funds’ pricing vendors. Prices obtained from independent pricing services may use various observable and unobservable inputs, including, but not limited to, information provided by broker-dealers, pricing formulas, estimates of market values obtained from data relating to investments or securities with similar characteristics and/or discounted cash flow or spread curve models that might be applicable. Shares of open-end investment companies (excluding exchange traded funds) were valued at the latest net asset value reported by the investment company.
Fixed income securities, including loan participation notes, were valued at market value. Market values were generally evaluations based on the judgment of the Funds’ 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.
A new rule adopted by the Securities and Exchange Commission (the “SEC”) governing fund valuation practices, Rule 2a-5 under the 1940 Act (Rule 2a-5), has established requirements for determining fair value in good faith for purposes of the 1940 Act. Rule 2a-5 permits fund boards to designate certain parties to perform fair value determinations, subject to board oversight and certain other conditions. Rule 2a-5 also defines when market quotations are “readily available” for purposes of Section 29(a)(41) of the 1940 Act, which requires a fund to fair value a security when market quotations are not readily available. Separately, new SEC Rule 31a-4 under the 1940 Act sets forth the recordkeeping requirements associated with fair value determinations. The Funds adopted a valuation policy compliant with Rule 2a-5 and Rule 31a-4 without resulting in a material impact to the Funds. Artisan Partners was designated by the board of directors as the valuation designee for the Funds pursuant to Rule 2a-5. In its capacity as valuation designee, Artisan Partners, among other things, is responsible for establishing fair valuation methodologies and determining, in good faith, the fair value of all of the assets of the Funds for which there are no readily available market quotations. Securities or other assets for which market quotations are not readily available are valued by Artisan Partners, as valuation designee, in accordance with Artisan Partners’ Procedures for Valuation of Portfolio Securities Held by Artisan Partners Funds, Inc. and under the general oversight of Artisan Partners Funds’ board of directors. A market quotation will be considered not readily available, and a Fund may therefore use fair value pricing, if there are not quoted prices (unadjusted) in active markets for identical investments that a Fund can access at the measurement date, and/or any such quotation is not reliable.
Notes to N-PORT Part F – June 30, 2023 (UNAUDITED) - (continued)
When fair value pricing is employed, the value of a security or asset used by a Fund to calculate its NAV may differ from quoted or published prices for the same security or asset. Estimates of fair value utilized by the Funds as described above could differ from the value realized on the sale of those securities or assets in the future and the differences may be material to the NAV of the applicable Fund.
(C) Fair Value Measurements:
Under US GAAP for fair value measurement, accounting standards clarify the definition of fair value for financial reporting, establish a framework for measuring fair value and require additional disclosures about the use of fair value measurements. In accordance with this standard, fair value is defined as the price that each Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. The standard establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on the market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Funds’ investments. The three-tier hierarchy of inputs is summarized in three broad levels:
| • | | Level 1 – unadjusted quoted prices in active markets for identical investments |
| • | | Level 2 – other significant observable inputs (including but not limited to quoted prices for similar securities, interest rates, credit risks and securities trading primarily outside the US where the applicable trading market was closed or factors were applied to prices as a result of significant market movements following the close of local trading) |
| • | | Level 3 – significant unobservable inputs (including the Funds’ own assumptions in determining a fair value of investments and discounts for lack of marketability) |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk or liquidity associated with investing in those securities. A description of the valuation techniques for the Funds’ major classes of assets is found in Note (B). A description of the fair value leveling techniques is described below:
Equity securities, ETFs, investment companies, exchange traded options contracts and exchange traded futures contracts are generally categorized as Level 1. Bank loans, corporate bonds, equity-linked securities, foreign currency forward contracts, treasury bills, other derivatives, foreign equity securities in which the closing price or bid quotation are adjusted for significant events, or local market holidays or other unscheduled market closures, are generally categorized as Level 2. Securities fair valued in good faith by the valuation committee are generally
Notes to N-PORT Part F – June 30, 2023 (UNAUDITED) - (continued)
categorized as Level 2 or 3, depending on the observability of the inputs utilized.
The following table summarizes each Fund’s investments by major security type, based on the inputs used to determine their fair values as of June 30, 2023 (in thousands):
| | | | | | | | | | | | | | | | |
Fund | | Level 1 - Unadjusted Quoted Prices | | | Level 2 - Other Significant Observable Inputs | | | Level 3 - Significant Unobservable Inputs | | | Total | |
Developing World | | | | | | | | | | | | | | | | |
Common Stocks(1) | | | | | | | | | | | | | | | | |
Americas | | $ | 1,368,216 | | | $ | — | | | $ | — | | | $ | 1,368,216 | |
Emerging Markets | | | 542,997 | | | | 518,121 | | | | — | | | | 1,061,118 | |
Europe | | | 99,149 | | | | 316,743 | | | | — | | | | 415,892 | |
Pacific Basin | | | 215,418 | | | | — | | | | — | | | | 215,418 | |
Investment Company | | | 16,019 | | | | — | | | | — | | | | 16,019 | |
Total Investments | | $ | 2,241,799 | | | $ | 834,864 | | | $ | — | | | $ | 3,076,663 | |
Emerging Markets Debt Opportunities | | | | | | | | | | | | | | | | |
Sovereign Government Bonds(1) | | $ | — | | | $ | 17,831 | | | $ | — | | | $ | 17,831 | |
Corporate Bonds(1) | | | — | | | | 5,253 | | | | — | | | | 5,253 | |
Sovereign Government Treasury Bills | | | — | | | | 1,229 | | | | — | | | | 1,229 | |
U.S. Treasury Obligations | | | — | | | | 6,311 | | | | — | | | | 6,311 | |
Repurchase Agreement | | | — | | | | 279 | | | | — | | | | 279 | |
Investment Companies | | | 609 | | | | — | | | | — | | | | 609 | |
Total Investments before security sold short | | | 609 | | | | 30,903 | | | | — | | | | 31,512 | |
Corporate Bond(1) | | | — | | | | (265 | ) | | | — | | | | (265 | ) |
Total Investments after security sold short | | | 609 | | | | 30,638 | | | | — | | | | 31,247 | |
Foreign Currency Forward Contracts(2) | | | — | | | | 59 | | | | — | | | | 59 | |
Futures(2) | | | 135 | | | | — | | | | — | | | | 135 | |
Centrally Cleared Credit Default Swap(2) | | | — | | | | — | (4) | | | — | | | | — | (4) |
Centrally Cleared Interest Rate Swaps(2) | | | — | | | | 103 | | | | — | | | | 103 | |
OTC Credit Default Swap(2) | | | — | | | | — | (4) | | | — | | | | — | (4) |
Total | | $ | 744 | | | $ | 30,800 | | | $ | — | | | $ | 31,544 | |
Floating Rate | | | | | | | | | | | | | | | | |
Bank Loans(1) | | $ | — | | | $ | 38,597 | | | $ | — | | | $ | 38,597 | |
Corporate Bonds(1) | | | — | | | | 3,515 | | | | — | | | | 3,515 | |
Warrant | | | — | | | | — | (3) | | | — | | | | — | (3) |
Investment Companies | | | 3,854 | | | | — | | | | — | | | | 3,854 | |
Total Investments | | $ | 3,854 | | | $ | 42,112 | | | $ | — | | | $ | 45,966 | |
Focus | | | | | | | | | | | | | | | | |
Common Stocks(1) | | $ | 1,228,327 | | | $ | 28,031 | | | $ | — | | | $ | 1,256,358 | |
Options Purchased | | | 1,407 | | | | — | | | | — | | | | 1,407 | |
Investment Company | | | 48,278 | | | | — | | | | — | | | | 48,278 | |
Total Investments | | | 1,278,012 | | | | 28,031 | | | | — | | | | 1,306,043 | |
Foreign Currency Forward Contracts(2) | | | — | | | | (1,528 | ) | | | — | | | | (1,528 | ) |
Written Option Contracts | | | (1,484 | ) | | | — | | | | — | | | | (1,484 | ) |
Total | | $ | 1,276,528 | | | $ | 26,503 | | | $ | — | | | $ | 1,303,031 | |
Global Discovery | | | | | | | | | | | | | | | | |
Common Stocks(1) | | | | | | | | | | | | | | | | |
Americas | | $ | 164,840 | | | $ | — | | | $ | — | | | $ | 164,840 | |
Emerging Markets | | | 4,421 | | | | 4,005 | | | | — | | | | 8,426 | |
Europe | | | 11,599 | | | | 47,232 | | | | — | | | | 58,831 | |
Pacific Basin | | | 1,935 | | | | 10,322 | | | | — | | | | 12,257 | |
Investment Company | | | 13,869 | | | | — | | | | — | | | | 13,869 | |
Total Investments | | $ | 196,664 | | | $ | 61,559 | | | $ | — | | | $ | 258,223 | |
Global Equity | | | | | | | | | | | | | | | | |
Common Stocks(1) | | | | | | | | | | | | | | | | |
Americas | | $ | 85,927 | | | $ | 4,955 | | | $ | — | | | $ | 90,882 | |
Emerging Markets | | | 3,786 | | | | 6,882 | | | | — | (3) | | | 10,668 | |
Europe | | | 7,722 | | | | 65,707 | | | | — | | | | 73,429 | |
Pacific Basin | | | — | | | | 16,674 | | | | — | | | | 16,674 | |
Total Investments | | $ | 97,435 | | | $ | 94,218 | | | $ | — | (3) | | $ | 191,653 | |
Global Opportunities | | | | | | | | | | | | | | | | |
Common Stocks(1) | | | | | | | | | | | | | | | | |
Americas | | $ | 1,620,983 | | | $ | — | | | $ | — | | | $ | 1,620,983 | |
Emerging Markets | | | 52,152 | | | | 32,841 | | | | — | | | | 84,993 | |
Europe | | | 49,468 | | | | 722,415 | | | | — | | | | 771,883 | |
Pacific Basin | | | — | | | | 275,207 | | | | — | | | | 275,207 | |
Investment Company | | | 89,263 | | | | — | | | | — | | | | 89,263 | |
Total Investments | | $ | 1,811,866 | | | $ | 1,030,463 | | | $ | — | | | $ | 2,842,329 | |
Global Unconstrained | | | | | | | | | | | | | | | | |
Sovereign Government Bonds(1) | | $ | — | | | $ | 15,435 | | | $ | — | | | $ | 15,435 | |
Corporate Bonds(1) | | | — | | | | 4,471 | | | | — | | | | 4,471 | |
Common Stock(1) | | | — | | | | 412 | | | | — | | | | 412 | |
Exchange Traded Fund(1) | | | 124 | | | | — | | | | — | | | | 124 | |
Options Purchased | | | 18 | | | | — | | | | — | | | | 18 | |
Sovereign Government Treasury Bills | | | — | | | | 408 | | | | — | | | | 408 | |
U.S. Treasury Obligations | | | — | | | | 2,890 | | | | — | | | | 2,890 | |
Repurchase Agreements | | | — | | | | 2,916 | | | | — | | | | 2,916 | |
Investment Companies | | | 444 | | | | — | | | | — | | | | 444 | |
Total Investments before securities sold short | | | 586 | | | | 26,532 | | | | — | | | | 27,118 | |
Common Stock(1) | | | — | | | | (137 | ) | | | — | | | | (137 | ) |
Corporate Bond(1) | | | — | | | | (250 | ) | | | — | | | | (250 | ) |
Sovereign Government Bonds(1) | | | — | | | | (2,544 | ) | | | — | | | | (2,544 | ) |
Total Investments after securities sold short | | | 586 | | | | 23,601 | | | | — | | | | 24,187 | |
Foreign Currency Forward Contracts(2) | | | — | | | | 36 | | | | — | | | | 36 | |
Futures(2) | | | 104 | | | | — | | | | — | | | | 104 | |
Centrally Cleared Credit Default Swaps(2) | | | — | | | | (152 | ) | | | — | | | | (152 | ) |
Centrally Cleared Interest Rate Swaps(2) | | | — | | | | (86 | ) | | | — | | | | (86 | ) |
OTC Credit Default Swaps(2) | | | — | | | | (11 | ) | | | — | | | | (11 | ) |
OTC Interest Rate Swap(2) | | | — | | | | — | (4) | | | — | | | | — | (4) |
Total | | $ | 690 | | | $ | 23,388 | | | $ | — | | | $ | 24,078 | |
Global Value | | | | | | | | | | | | | | | | |
Common Stocks(1) | | | | | | | | | | | | | | | | |
Americas | | $ | 916,368 | | | $ | — | | | $ | — | | | $ | 916,368 | |
Emerging Markets | | | — | | | | 163,027 | | | | — | | | | 163,027 | |
Europe | | | — | | | | 892,457 | | | | — | | | | 892,457 | |
Pacific Basin | | | — | | | | 23,404 | | | | — | | | | 23,404 | |
Investment Company | | | 108,384 | | | | — | | | | — | | | | 108,384 | |
Total Investments | | $ | 1,024,752 | | | $ | 1,078,888 | | | $ | — | | | $ | 2,103,640 | |
High Income | | | | | | | | | | | | | | | | |
Corporate Bonds(1) | | $ | — | | | $ | 5,161,825 | | | $ | — | | | $ | 5,161,825 | |
Bank Loans(1) | | | — | | | | 1,020,875 | | | | — | | | | 1,020,875 | |
Common Stock(1) | | | — | | | | 23,415 | | | | — | | | | 23,415 | |
Warrant | | | — | | | | — | (3) | | | — | | | | — | |
Investment Company | | | 462,057 | | | | — | | | | — | | | | 462,057 | |
Total Investments | | | 462,057 | | | | 6,206,115 | | | | - | | | | 6,668,172 | |
Foreign Currency Forward Contracts(2) | | | — | | | | (83 | ) | | | — | | | | (83 | ) |
Total | | $ | 462,057 | | | $ | 6,206,032 | | | $ | — | | | $ | 6,668,089 | |
International | | | | | | | | | | | | | | | | |
Common Stocks and Equity-Linked Security(1) | | | | | | | | | | | | | | | | |
Americas | | $ | 928,781 | | | $ | 207,784 | | | $ | — | | | $ | 1,136,565 | |
Emerging Markets | | | 46,620 | | | | 116,713 | | | | — | (3) | | | 163,333 | |
Europe | | | 299,683 | | | | 3,046,229 | | | | — | | | | 3,345,912 | |
Pacific Basin | | | — | | | | 424,405 | | | | — | | | | 424,405 | |
Investment Company | | | 171,892 | | | | — | | | | — | | | | 171,892 | |
Total Investments | | $ | 1,446,976 | | | $ | 3,795,131 | | | $ | — | (3) | | $ | 5,242,107 | |
International Explorer | | | | | | | | | | | | | | | | |
Common Stocks(1) | | | | | | | | | | | | | | | | |
Americas | | $ | 852 | | | $ | 3,212 | | | $ | — | | | $ | 4,064 | |
Emerging Markets | | | 5,258 | | | | 6,564 | | | | — | | | | 11,822 | |
Europe | | | 973 | | | | 20,172 | | | | — | | | | 21,145 | |
Pacific Basin | | | — | | | | 7,513 | | | | — | | | �� | 7,513 | |
Investment Companies | | | 9,825 | | | | — | | | | — | | | | 9,825 | |
Total Investments | | $ | 16,908 | | | $ | 37,461 | | | $ | — | | | $ | 54,369 | |
International Small-Mid | | | | | | | | | | | | | | | | |
Common Stocks(1) | | | | | | | | | | | | | | | | |
Americas | | $ | 1,003,927 | | | $ | — | | | $ | — | | | $ | 1,003,927 | |
Emerging Markets | | | 245,563 | | | | 79,447 | | | | — | | | | 325,010 | |
Europe | | | 34,413.00 | | | | 2,054,826 | | | | — | | | | 2,089,239 | |
Middle East | | | 285,320 | | | | 31,504 | | | | — | | | | 316,824 | |
Pacific Basin | | | — | | | | 544,100 | | | | — | | | | 544,100 | |
Investment Company | | | 116,331 | | | | — | | | | — | | | | 116,331 | |
Total Investments | | $ | 1,685,554 | | | $ | 2,709,877 | | | $ | — | | | $ | 4,395,431 | |
International Value | | | | | | | | | | | | | | | | |
Common Stocks and Equity-Linked Security(1) | | | | | | | | | | | | | | | | |
Americas | | $ | 4,097,097 | | | $ | 856,820 | | | $ | — | | | $ | 4,953,917 | |
Emerging Markets | | | 410,530 | | | | 4,321,195 | | | | 103,240 | | | | 4,834,965 | |
Europe | | | 589,696 | | | | 15,036,996 | | | | — | | | | 15,626,692 | |
Pacific Basin | | | — | | | | 561,065 | | | | — | | | | 561,065 | |
Investment Company | | | 2,343,495 | | | | — | | | | — | | | | 2,343,495 | |
Total Investments | | | 7,440,818 | | | | 20,776,076 | | | | 103,240 | | | | 28,320,134 | |
OTC Total Return Swap(1) | | | — | | | | 139 | | | | — | | | | 139 | |
Total | | | 7,440,818 | | | | 20,776,215 | | | | 103,240 | | | | 28,320,273 | |
Mid Cap | | | | | | | | | | | | | | | | |
Common Stocks(1) | | $ | 4,571,706 | | | $ | 59,734 | | | $ | — | | | $ | 4,631,440 | |
Investment Company | | | 63,626 | | | | — | | | | — | | | | 63,626 | |
Total Investments | | $ | 4,635,332 | | | $ | 59,734 | | | $ | — | | | $ | 4,695,066 | |
Mid Cap Value | | | | | | | | | | | | | | | | |
Common Stocks(1) | | $ | 1,181,130 | | | $ | — | | | $ | — | (3) | | $ | 1,181,130 | |
Investment Company | | | 8,506 | | | | — | | | | — | | | | 8,506 | |
Total Investments | | $ | 1,189,636 | | | $ | — | | | $ | — | (3) | | $ | 1,189,636 | |
Select Equity | | | | | | | | | | | | | | | | |
Common Stocks(1) | | $ | 29,200 | | | $ | 6,008 | | | $ | — | | | $ | 35,208 | |
Investment Company | | | 3,667 | | | | — | | | | — | | | | 3,667 | |
Total Investments | | $ | 32,867 | | | $ | 6,008 | | | $ | — | | | $ | 38,875 | |
Small Cap | | | | | | | | | | | | | | | | |
Common Stocks(1) | | $ | 1,841,901 | | | $ | — | | | $ | — | | | $ | 1,841,901 | |
Total Investments | | $ | 1,841,901 | | | $ | — | | | $ | — | | | $ | 1,841,901 | |
Sustainable Emerging Markets | | | | | | | | | | | | | | | | |
Common Stocks(1) | | | | | | | | | | | | | | | | |
Americas | | $ | 890 | | | $ | — | | | $ | — | | | $ | 890 | |
Emerging Markets | | | 17,316 | | | | 67,134 | | | | — | (3) | | | 84,450 | |
Pacific Basin | | | 387 | | | | 1,372 | | | | — | | | | 1,759 | |
Investment Company | | | 4,125 | | | | — | | | | — | | | | 4,125 | |
Total Investments | | $ | 22,718 | | | $ | 68,506 | | | $ | — | (3) | | $ | 91,224 | |
Value | | | | | | | | | | | | | | | | |
Common Stocks(1) | | $ | 232,298 | | | $ | 45,222 | | | $ | — | | | $ | 277,520 | |
Investment Company | | | 14,504 | | | | — | | | | — | | | | 14,504 | |
Total Investments | | $ | 246,802 | | | $ | 45,222 | | | $ | — | | | $ | 292,024 | |
Value Income | | | | | | | | | | | | | | | | |
Common Stocks(1) | | $ | 8,203 | | | $ | 1,356 | | | $ | — | | | $ | 9,559 | |
Corporate Bonds(1) | | | — | | | | 720 | | | | — | | | | 720 | |
Convertible Bonds(1) | | | — | | | | 280 | | | | — | | | | 280 | |
Investment Companies | | | 474 | | | | — | | | | — | | | | 474 | |
Total Investments | | | 8,677 | | | | 2,356 | | | | — | | | | 11,033 | |
Written Option Contracts | | | (19 | ) | | | — | | | | — | | | | (19 | ) |
Total | | $ | 8,658 | | | $ | 2,356 | | | $ | — | | | $ | 11,014 | |
(1) | See the Fund’s Schedule of Investments for industry or country classifications. |
(2) | Foreign currency forward contracts, futures contracts, OTC total return swaps and centrally cleared swap contracts are valued at unrealized appreciation (depreciation). Amounts shown above are shown as net unrealized appreciation (depreciation). See the Fund’s Schedule of Investments for additional detail. |
(4) | Amount rounds to less than $1. |
Information about Level 3 fair value measurements (dollar values in thousands):
| | | | | | | | | | | | |
Assets | | Fair Value at June 30, 2023 | | | Unobservable Input(s) | | | Impact to Fair Value from an Increase in Input | |
Global Equity Fund | | | | | | | | | | | | |
Common Stocks | | $ | — | (1) | |
| Last quote in inactive market less 100% discount | | | | N/A | |
International Fund | | | | | | | | | | | | |
Common Stocks | | $ | — | (1) | |
| Last quote in inactive market less 100% discount | | | | N/A | |
International Value Fund | | | | | | | | | | | | |
Common Stock (preferred shares) | | $ | 103,240 | | | | Mark-to-Model Approach | | | | Increase | |
Mid Cap Value Fund | | | | | | | | | | | | |
Common Stock | | $ | — | (1) | |
| 100% discount for uncertainty of collectability | | | | N/A | |
Sustainable Emerging Markets Fund | | | | | | | | | | | | |
Common Stocks | | $ | — | (1) | |
| Last quote in inactive market less 100% discount | | | | N/A | |
(1) | Includes one or more securities valued at $0. |
As of June 30, 2023, the reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value is as follows (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Developing World Fund | | | Emerging Markets Debt Opportuniites Fund | | | Global Equity Fund | | | Global Unconstrained Fund | | | International Fund | | | International Value Fund | | | Mid Cap Value Fund | | | Sustainable Emerging Markets Fund | |
Balance as of September 30, 2022 | | $ | — | (1) | | $ | 1 | | | $ | — | (1) | | $ | 8 | | | $ | — | (1) | | $ | — | | | $ | — | | | $ | — | (1) |
Transfers into Level 3 | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Net change in unrealized appreciation (depreciation) | | | 48,813 | | | | 9 | | | | — | | | | 5 | | | | — | | | | 3,240 | | | | — | | | | 9,727 | |
Purchases | | | — | | | | — | (1) | | | — | | | | — | (1) | | | — | | | | 100,000 | | | | — | (1) | | | — | |
Sales | | | (16,768 | ) | | | — | (1) | | | — | | | | — | (1) | | | — | | | | — | | | | — | | | | (1,458 | ) |
Realized Gain/(Loss) | | | (32,045 | ) | | | 1 | | | | — | | | | 5 | | | | — | | | | — | | | | — | | | | (8,269 | ) |
Transfer out of Level 3 | | | — | | | | (11 | ) | | | — | | | | (18 | ) | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Balance as of June 30, 2023 | | $ | — | | | $ | — | | | $ | — | (1) | | $ | — | | | $ | — | (1) | | $ | 103,240 | | | $ | — | (1) | | $ | — | (1) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net change in unrealized appreciation (depreciation) for investments held as of June 30, 2023 | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 3,240 | | | $ | — | | | $ | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1) | Includes one or more securities valued at $0. |
(D) Transactions in securities of affiliates:
The table below shows information about securities of Fund “affiliates” (as defined below) that were held by a Fund, purchased or sold by a Fund, or from which dividends were received by a Fund during the period ended June 30, 2023 (shares and dollar values in thousands). Each Fund identifies a company as an affiliate for the purpose of this report if the Fund owned voting securities that it believed represented 5% or more of that company’s outstanding voting securities (as defined by the 1940 Act) during the period ended June 30, 2023.
Transactions in securities of affiliates:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | As of 9/30/2022 | | | | | | | | | | | | | | | As of 6/30/2023 | | | | |
Funds | | Shares Balance | | | Value | | | Purchases at Cost | | | Proceeds from Sales | | | Net Realized Gain (Loss) | | | Net Increase (Decrease) in Unrealized Appreciation or Depreciation | | | Share Balance | | | Value | | | Dividend Income@ | |
International Small-Mid Fund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Carenet, Inc.†(1) | | | 3,363 | | | $ | 27,595 | | | $ | — | | | $ | (11,059 | ) | | $ | (4,871 | ) | | $ | 1,130 | | | | 1,952 | | | $ | 12,795 | | | $ | 128 | |
CKD Corp.(1) | | | 4,057 | | | | 48,288 | | | | — | | | | (5,774 | ) | | | (3,178 | ) | | | 20,753 | | | | 3,657 | | | | 60,089 | | | | 1,275 | |
Daikokutenbussan Co. Ltd.(1) | | | 838 | | | | 30,492 | | | | — | | | | (2,721 | ) | | | (3,003 | ) | | | 3,490 | | | | 762 | | | | 28,258 | | | | 145 | |
Model N, Inc.*† | | | 2,003 | | | | 68,548 | | | | — | | | | (16,361 | ) | | | (313 | ) | | | 3,452 | | | | 1,565 | | | | 55,326 | | | | — | |
Ubicom Holdings, Inc.(1) | | | 847 | | | | 12,677 | | | | — | | | | (1,147 | ) | | | (1,391 | ) | | | (1,468 | ) | | | 775 | | | | 8,671 | | | | 60 | |
ViewRay, Inc.*† | | | 11,030 | | | | 40,149 | | | | — | | | | (6,963 | ) | | | (3,129 | ) | | | (26,869 | ) | | | 9,051 | | | | 3,188 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total# | | | | | | $ | 227,749 | | | $ | — | | | $ | (44,025 | ) | | $ | (15,885 | ) | | $ | 488 | | | | | | | $ | 97,018 | | | $ | 1,608 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
International Value Fund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Arch Capital Group Ltd.*† | | | 23,073 | | | $ | 1,050,732 | | | $ | 56,073 | | | $ | (409,377 | ) | | $ | 155,396 | | | $ | 480,264 | | | | 17,810 | | | $ | 1,333,088 | | | $ | — | |
Berkeley Group Holdings plc(1) | | | 5,543 | | | | 203,196 | | | | 21,382 | | | | (7,673 | ) | | | (4,735 | ) | | | 77,394 | | | | 5,814 | | | | 289,564 | | | | 4,614 | |
Sensata Technologies Holding plc | | | 8,750 | | | | 326,188 | | | | 29,961 | | | | (19,377 | ) | | | (6,806 | ) | | | 71,664 | | | | 8,927 | | | | 401,630 | | | | 2,918 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total# | | | | | | $ | 1,580,116 | | | $ | 107,416 | | | $ | (436,427 | ) | | $ | 143,855 | | | $ | 629,322 | | | | | | | $ | 691,194 | | | $ | 7,532 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
@ | Net of foreign taxes withheld, if any. |
† | Issuer was not an affiliate as of June 30, 2023. |
* | Non-income producing security. |
# | Total value as of June 30, 2023 is presented only for those issuers that were affiliates as of June 30, 2023. |
(1) | Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. See notes (B) and (C) in the accompanying notes. |