Artisan Partners Asset Management Inc. has recently released its 10-K report, providing insight into its financial performance and operations. The company, founded in 1994 and based in Milwaukee, Wisconsin, is a publicly owned investment manager that offers services to a wide range of clients, including pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds, non-U.S. funds, and mutual funds. Artisan manages separate client-focused equity and fixed income portfolios, investing in public equity and fixed income markets across the globe, with a focus on growth and value stocks of companies across all market capitalizations, as well as non-investment grade corporate bonds and secured and unsecured loans.
In its 10-K report, Artisan Partners Asset Management Inc. highlighted several key points regarding its financial performance and operations. The company's total assets under management (AUM) increased to $179.9 billion in 2025, representing a 12% growth compared to $161.2 billion in 2024. This increase was primarily driven by $33.4 billion of market appreciation, partially offset by $12.7 billion of net client cash outflows, and $2.0 billion of Artisan Funds' distributions that were not reinvested by fund shareholders. The firm's average AUM for the year ended December 31, 2025, was $173.0 billion, marking an 8.0% increase from the average of $160.2 billion for the year ended December 31, 2024. Artisan Partners earned $1,196.7 million in revenue for the year ended December 31, 2025, reflecting a 7.6% increase from revenues of $1,111.8 million for the year ended December 31, 2024.
The company's GAAP operating margin was 33.4% in 2025, compared to 33.0% in 2024. The adjusted operating margin was 35.3% in 2025, compared to 33.8% in 2024. Artisan Partners declared and distributed dividends of $3.63 per share of Class A common stock during 2025 and declared a quarterly dividend of $1.01 per share of Class A common stock with respect to the December 2025 quarter, along with a special annual dividend of $0.57 per share, totaling $3.87 of dividends per share with respect to 2025.
The company operates its business in a single segment through Artisan Partners Holdings LP and its subsidiaries. As of December 31, 2025, limited partners of Holdings, some of whom are employees, held approximately 13% of the equity interests in Holdings, reflecting significant noncontrolling interest. Additionally, Artisan Partners Asset Management Inc. provided a detailed breakdown of its key performance indicators, including assets under management, net client cash flows, total revenues, weighted average fee, operating margin, and adjusted operating margin for the years ended December 31, 2023-2025.
Artisan Partners' 10-K report also highlighted the performance of its investment strategies, showcasing the average annual total returns (gross of fees) for each composite and its respective benchmark, as well as the average annual value-added since inception. The report emphasized the impact of global market conditions on the company's financial performance, with fluctuations in AUM due to changes in the economic environment and financial markets resulting in corresponding fluctuations in revenues and earnings.
The report also addressed the factors influencing the company's AUM, including investment performance, client asset flows, and industry trends, while noting the impact of net client cash inflows and outflows on its strategies. Artisan Partners stressed its proactive approach to managing investment capacity, including the decision to close or limit the growth of strategies when deemed necessary, with a focus on protecting the interests of its clients and maintaining profit margins.
As a result of these announcements, the company's shares have moved -0.27% on the market, and are now trading at a price of $44.31. For more information, read the company's full 10-K submission here.
