NPORT-EX 2 d358651dex11.htm FOR VALIDATION PURPOSES ONLY - [358651.TX]

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%

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
BUBOR    Budapest Interbank Offered Rate
CITI    Citibank, N.A.
CNREPOFIX=CFXS    CNY-Fixing Repo Rate
GDR    Global Depositary Receipt
ICE    Intercontinental Exchange
JIBAR    Johannesburg Interbank Average Rate
JPM    JPMorganChase Bank, N.A.
LIBOR    London Interbank Offered Rate
NYRS    New York Registry Shares
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 liquidatio preference.
PRIBOR    Prague Interbank Offered Rate
SCB    Standard Chartered Bank
SOFR    Secured Overnight Financing Rate
TIIE    Mexican Interbank Equilibrium Interest Rate
THOR    Thai Overnight Repurchase Rate
WIBOR    Warsaw Interbank Offer Rate

Currency abbreviations

 

AUD    Australian dollar
BRL    Brazilian real
CAD    Canadian dollar
CHF    Swiss franc
CLP    Chilean peso
CNY    Chinese yuan
COP    Colombian peso
CZK    Czech koruna
DKK    Danish krone
DOP    Dominican peso
EGP    Egyptian pound
EUR    Euro
GBP    British pound
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
NOK    Norwegian krone
PEN    Peruvian nuevo sol
PLN    Polish zloty
RON    Romanian leu
SEK    Swedish krona
THB    Thailand baht
TWD    New Taiwan dollar
UGX    Ugandan shilling
USD    U.S. dollar
UZS    Uzbekistani som
VND    Vietnamese dong
ZAR    South African rand
ZMW    Zambian kwacha
 

Artisan Developing World Fund

Schedule of Investments

June 30, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 98.6%

     

Brazil - 7.3%

     

MercadoLibre, Inc. *

     303      $ 193,097  

NU Holdings Ltd., Class A *

     21,178        79,207  
     

 

 

 
        272,304  
     

 

 

 

China - 29.6%

     

Aier Eye Hospital Group Co. Ltd., Class A *

     6,820        45,613  

Bilibili, Inc., ADR *

     3,321        85,019  

China Tourism Group Duty Free Corp. Ltd., Class A *

     1,300        45,251  

JD Health International, Inc. *

     14,490        113,657  

Kanzhun Ltd., ADR *

     173        4,539  

KE Holdings, Inc., ADR *

     4,601        82,588  

Kweichow Moutai Co. Ltd., Class A

     437        133,400  

Meituan, Class B *

     8,802        217,828  

Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A

     1,864        87,188  

Tencent Holdings Ltd.

     3,223        145,566  

Wuxi Biologics Cayman, Inc. *

     11,335        103,715  

Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A *

     830        44,248  
     

 

 

 
        1,108,612  
     

 

 

 

France - 4.4%

     

Hermes International

     39        43,834  

LVMH Moet Hennessy Louis Vuitton SE

     199        121,146  
     

 

 

 
        164,980  
     

 

 

 

India - 3.2%

     

HDFC Bank Ltd., ADR

     2,156        118,467  
     

 

 

 

Netherlands - 8.4%

     

Adyen NV *

     133        194,120  

ASML Holding NV, NYRS

     251        119,418  
     

 

 

 
        313,538  
     

 

 

 

Russia - 0.0%

     

Yandex NV, Class A *(1)(2)

     1,677        —    
     

 

 

 

Singapore - 5.4%

     

Sea Ltd., ADR *

     3,004        200,866  
     

 

 

 

United States - 40.3%

     

Airbnb, Inc., Class A *

     2,165        192,884  

Align Technology, Inc. *

     330        78,211  

Crowdstrike Holdings, Inc., Class A *

     1,134        191,209  

Estee Lauder Cos., Inc. (The), Class A

     338        86,044  

Mastercard, Inc., Class A

     131        41,286  

Netflix, Inc. *

     476        83,264  

NVIDIA Corp.

     1,442        218,663  

Snap, Inc., Class A *

     10,200        133,930  

Unity Software, Inc. *

     3,637        133,911  

Veeva Systems, Inc., Class A *

     805        159,438  

Visa, Inc., Class A

     958        188,540  
     

 

 

 
        1,507,380  
     

 

 

 

Total common stocks (Cost $3,529,230)

        3,686,147  
     

 

 

 

Total investments - 98.6% (Cost $3,529,230)

        3,686,147  

Other assets less liabilities - 1.4%

        52,234  
     

 

 

 

Total net assets - 100.0% #

      $ 3,738,381  
     

 

 

 

Artisan Developing World Fund

Schedule of Investments (continued)

June 30, 2022 (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 $–, or 0.0% of total net assets. See notes (A) and (B) in the accompanying notes.

(2) 

Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 653,184        17.7

Consumer Discretionary

     927,697        25.2  

Consumer Staples

     219,444        6.0  

Financials

     197,674        5.4  

Health Care

     518,413        14.1  

Information Technology

     1,087,147        29.4  

Real Estate

     82,588        2.2  
  

 

 

    

 

 

 

Total investments

   $ 3,686,147        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CNY

   $ 355,700        9.6

EUR

     359,100        9.7  

HKD

     580,766        15.8  

USD

     2,390,581        64.9  
  

 

 

    

 

 

 

Total investments

   $ 3,686,147        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

Schedule of Investments

June 30, 2022 (Unaudited)

Principal amount, shares and values in thousands and reported in USD unless otherwise stated

 

     Principal
Amount
     Value  

SOVEREIGN GOVERNMENT BONDS - 56.7%

     

Albania - 1.4%

     

Republic of Albania 3.50%, 10/9/2025

   EUR 300      $ 282  

Angola - 3.3%

     

Republic of Angola

     

(ICE LIBOR USD 6 Month + 7.50%), 7.85%, 7/1/2023(4)

   $ 501        498  

6.93%, 2/19/2027

     207        190  
     

 

 

 
        688  
     

 

 

 

Bahamas - 0.7%

     

Commonwealth of the Bahamas 5.75%, 1/16/2024

     176        152  

Brazil - 3.3%

     

Notas do Tesouro Nacional

     

10.00%, 1/1/2025

   BRL 2,662        455  

10.00%, 1/1/2029

   BRL 1,355        214  
     

 

 

 
        669  
     

 

 

 

Cameroon - 2.9%

     

Republic of Cameroon 9.50%, 11/19/2025

     600        597  

Croatia - 1.0%

     

Republic of Croatia 2.75%, 1/27/2030

   EUR 200        200  

Dominican Republic - 7.0%

     

Dominican Republic Government Bond

     

8.90%, 2/15/2023

   DOP 39,950        725  

11.50%, 5/10/2024

   DOP 3,700        69  

6.88%, 1/29/2026

     100        102  

9.75%, 6/5/2026

   DOP 12,000        213  

4.88%, 9/23/2032

     300        231  

5.30%, 1/21/2041

     150        104  
     

 

 

 
        1,444  
     

 

 

 

Egypt - 1.7%

     

Arab Republic of Egypt 4.75%, 4/11/2025

   EUR 400        349  

Guatemala - 0.9%

     

Republic of Guatemala 3.70%, 10/7/2033

     250        192  

Hungary - 1.0%

     

Hungary Government Bond 5.25%, 6/16/2029

     200        199  

Indonesia - 3.4%

     

Republic of Indonesia 8.25%, 5/15/2036

   IDR 9,854,000        697  

Iraq - 3.4%

     

Republic of Iraq

     

6.75%, 3/9/2023

     200        195  

5.80%, 1/15/2028

     563        505  
     

 

 

 
        700  
     

 

 

 

Ivory Coast - 1.5%

     

Republic of Cote d’Ivoire 4.88%, 1/30/2032

   EUR 400        301  

Kazakhstan - 1.0%

     

Republic of Kazakhstan 1.55%, 11/9/2023

   EUR 200        207  

Kenya - 0.8%

     

Republic of Kenya 6.88%, 6/24/2024

   $ 200        167  

Macedonia, the Former Yugoslav Republic of - 3.8%

     

Republic of North Macedonia 5.63%, 7/26/2023

   EUR 748        787  

Malaysia - 1.0%

     

Malaysia Government Bond 3.48%, 3/15/2023

   MYR 936        213  

Mexico - 1.0%

     

United Mexican States 4.75%, 4/27/2032

     220        211  

Nigeria - 1.9%

     

Federal Republic of Nigeria

     

7.63%, 11/21/2025

     271        239  

9.25%, 1/21/2049

     232        157  
     

 

 

 
        396  
     

 

 

 

Oman - 1.0%

     

Sultanate of Oman Government Bond 7.38%, 10/28/2032

     200        206  

Paraguay - 1.9%

     

Republic of Paraguay

     

4.63%, 1/25/2023

     205        205  

6.10%, 8/11/2044

     216        188  
     

 

 

 
        393  
     

 

 

 

Romania - 1.7%

     

Romania Government Bond 3.62%, 5/26/2030

   EUR 400        342  

Serbia - 0.9%

     

Republic of Serbia 3.13%, 5/15/2027

   EUR 200        183  

Tunisia - 0.7%

     

Tunisian Republic 6.75%, 10/31/2023

   EUR 205        148  

Turkey - 1.6%

     

Republic of Turkey 3.25%, 3/23/2023

     335        324  

Uzbekistan - 5.3%

     

Republic of Uzbekistan

     

14.50%, 11/25/2023

   UZS 10,000,000        895  

4.75%, 2/20/2024

     210        200  
     

 

 

 
        1,095  
     

 

 

 

Zambia - 2.6%

     

Republic of Zambia

     

11.00%, 6/17/2024

   ZMW 4,848        236  

10.00%, 6/28/2024

   ZMW 4,367        208  

10.00%, 9/20/2024

   ZMW 1,757        81  
     

 

 

 

Artisan Emerging Markets Debt Opportunities Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Principal amount, shares and values in thousands and reported in USD unless otherwise stated

 

                        525  
        

 

 

 

Total Sovereign Government Bonds (Cost $12,495)

           11,667  
        

 

 

 

CORPORATE BONDS - 7.0%

        

Brazil - 2.1%

        

Cosan Overseas Ltd. 8.25%, 8/5/2022(1)

      $ 196        195  

Unigel Luxembourg SA 8.75%, 10/1/2026

        253        250  
        

 

 

 
           445  
        

 

 

 

Chile - 1.0%

        

ATP Tower Holdings LLC 4.05%, 4/27/2026(2)

        245        202  
        

 

 

 

China - 0.5%

        

CAR, Inc. 9.75%, 3/31/2024

        128        106  
        

 

 

 

Colombia - 0.5%

        

Gran Tierra Energy International Holdings Ltd. 6.25%, 2/15/2025

        119        102  
        

 

 

 

Czech Republic - 0.5%

        

Energo-Pro A/S 4.50%, 5/4/2024

        100        98  
        

 

 

 

Peru - 1.5%

        

Inkia Energy Ltd. 5.88%, 11/9/2027

        226        207  

PetroTal Corp. 12.00%, 2/16/2024

        100        101  
        

 

 

 
           308  
        

 

 

 

Spain - 0.9%

        

EnfraGen Energia Sur SA 5.38%, 12/30/2030

        280        189  
        

 

 

 

Total corporate bonds (Cost $1,532)

           1,450  
        

 

 

 
            Notional         

OPTIONS PURCHASED - 0.0%^

        

Call Interest Rate Swaptions - 0.0%^

        

Option to enter into interest rate swap expiring 4/12/2024 to pay 4% and receive 1D
SOFR (Cost $4)

        196        4  
        

 

 

 
           4  
        

 

 

 

Total Options Purchased (Cost $4)

           4  
        

 

 

 
            Principal
Amount
        

SHORT-TERM INVESTMENTS - 33.3%

        

U.S. TREASURY OBLIGATIONS - 31.1%

        

U.S. Treasury Bills

        

0.88%, 07/12/2022(3)

      $ 6,000        5,998  

0.98%, 07/26/2022(3)

        400        400  
        

 

 

 

Total U.S. Treasury Obligations (Cost $6,399)

           6,398  
        

 

 

 
            Shares Held         

INVESTMENT COMPANIES - 2.2%

        

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34%

        153        153  

Federated Treasury Obligations Fund - Institutional Class, 1.38%

        149        149  

Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 1.31%

        149        149  
        

 

 

 

Total investment companies (Cost $451)

           451  
        

 

 

 

Total short-term investments (Cost $6,850)

           6,849  
        

 

 

 

Total investments - 97.0% (Cost $20,881)

           19,970  

Other assets less liabilities - 3.0%

           619  
        

 

 

 

Total net assets - 100.0% #

         $ 20,589  
        

 

 

 

Artisan Emerging Markets Debt Opportunities Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

 

(1) 

Perpetual security. The rate reflected was the rate in effect on June 30, 2022. The maturity date reflects the next call date.

(2) 

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.

(3) 

Yield to maturity.

(4) 

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Energy

   $ 495        2.5

Foreign Government Securities

     11,667        58.4

Industrials

     308        1.5

Materials

     251        1.3

Options Purchased

     4        0.0^

Utilities

     396        2.0

Short-Term Investments

     6,849        34.3
  

 

 

    

 

 

 

Total investments

   $ 19,970        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

BRL

   $ 669        3.4

DOP

     1,008        5.0

EUR

     2,896        14.5

IDR

     697        3.5

MYR

     213        1.1

USD

     13,067        65.4

UZS

     895        4.5

ZMW

     525        2.6
  

 

 

    

 

 

 

Total investments

   $ 19,970        100.0
  

 

 

    

 

 

 

Artisan Emerging Markets Debt Opportunities Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

FOREIGN CURRENCY FORWARD CONTRACTS

Values in thousands

 

Currency Purchased

     Currency Sold      Counterparty    Settlement
Date
     Unrealized
Appreciation
(Depreciation)
 

KES**

     78,000        USD       646      JPM      7/5/2022      $ 16  

USD

     473        BRL **      2,306      CITI      7/5/2022        32  

UZS**

     567,859        USD       50      JPM      7/13/2022        1 (1)  

USD

     334        BRL **      1,756      CITI      8/5/2022        2  

EGP**

     3,250        USD       168      JPM      8/25/2022        —  

USD

     301        COP **      1,230,000      CITI      8/29/2022        8  

HUF

     377,847        EUR       936      SCB      9/2/2022        4  

RON

     5,965        EUR       1,183      JPM      9/6/2022        6  

USD

     3,307        EUR       3,087      SCB      9/21/2022        54  

USD

     638        UGX **      2,448,670      SCB      10/4/2022        3  
                

 

 

 

Total unrealized appreciation

        126  
                

 

 

 

BRL**

     2,306        USD       444      CITI      7/5/2022        (3

KZT**

     293,690        USD       654      SCB      7/18/2022        (33

MXN

     17,147        USD       858      SCB      7/28/2022        (9

PEN**

     784        USD       206      CITI      8/15/2022        (3

EGP**

     4,700        USD       245      JPM      8/25/2022        (3

COP**

     1,230,000        USD       307      CITI      8/29/2022        (13

HUF

     60,387        EUR       150      SCB      9/2/2022        —  

PLN

     2,792        EUR       597      SCB      9/6/2022        (11

EUR

     136        USD       146      SCB      9/21/2022        (3

UGX**

     2,448,670        USD       669      JPM      10/4/2022        (34
                

 

 

 

Total unrealized depreciation

        (112
                

 

 

 

Net unrealized appreciation

      $ 14  
                

 

 

 

 

** 

Non-deliverable.

(1) 

Valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

FUTURES CONTRACTS

Dollar values in thousands

Description

   Number of
Contracts
    Expiration
Date
     Trading
Currency
     Notional
Amount
    Unrealized
Appreciation/
(Depreciation)
 

Short Positions Contracts

 

       

Euro-Bobl

     (6     9/8/2022        EUR      $ (600   $ 1  

Euro-Bund

     (3     9/8/2022        EUR        (300     4  

Euro-Schatz

     (11     9/8/2022        EUR        (1,100     0  

U.S. Treasury 2 Year Note

     (13     9/30/2022        USD        (1,300     11  

U.S. Treasury 5 Year Note

     (8     9/30/2022        USD        (800     (3

U.S. Treasury 10 Year Note

     (14     9/21/2022        USD        (1,400     15  

U.S. Treasury Long Bond

     (2     9/21/2022        USD        (200     2  
            

 

 

 

Net unrealized appreciation

 

  $ 30  
            

 

 

 

Artisan Emerging Markets Debt Opportunities Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

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

    8.55 monthly       Pay       4/2/2027       MXN 13,500       —         (11     (11

4 week TIIE monthly

    8.65 monthly       Pay       5/17/2032       MXN 8,570       —         (7     (7

1 week CNREPOFIX=CFXS quarterly

    2.37 quarterly       Pay       4/8/2027       CNY 5,000 **      —         (7     (7
         

 

 

   

 

 

   

 

 

 
            —         (25     (25
         

 

 

   

 

 

   

 

 

 

Total

 

      —         (25     (25
   

 

 

   

 

 

   

 

 

 

 

** 

Non-deliverable.

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, 2022 (Unaudited)

Principal amount, shares and dollar values in thousands

 

     Principal
Amount
     Value  

BANK LOANS - 87.2%

     

Aerospace/Defense - 3.2%

     

Jazz Acquisition, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 4.25%), 5.92%, 6/19/2026(1)

   $ 467      $ 439  

TransDigm, Inc. First Lien Term Loan G (ICE LIBOR USD 1 Month + 2.25%), 3.92%, 8/22/2024(1)

     1,103        1,062  
     

 

 

 
        1,501  
     

 

 

 

Apparel - 0.5%

     

Birkenstock US BidCo, Inc. First Lien Term Loan B (ICE LIBOR USD 6 Month + 3.25%), 5.10%, 4/28/2028(1)(2)

     233        213  
     

 

 

 

Auto Parts & Equipment - 0.6%

     

Wheel Pros, Inc. First Lien Term Loan (ICE LIBOR USD 1 Month + 4.50%), 6.10%, 5/11/2028(1)

     332        274  
     

 

 

 

Building Materials - 1.5%

     

ACProducts Holdings, Inc. First Lien Term Loan B

     

(ICE LIBOR USD 3 Month + 4.25%), 5.92%, 5/17/2028 (1)

     89        69  

(ICE LIBOR USD 3 Month + 4.25%), 6.50%, 5/17/2028 (1)

     30        23  

CP Atlas Buyer, Inc. First Lien Term Loan B1 (ICE LIBOR USD 1 Month + 3.75%), 5.42%, 11/23/2027(1)

     413        362  

PHRG Intermediate LLC First Lien Term Loan (ICE LIBOR USD 1 Month + 6.00%), 7.60%, 12/16/2026(1)

     248        238  
     

 

 

 
        692  
     

 

 

 

Chemicals - 1.3%

     

CPC Acquisition Corp. First Lien Term Loan B (ICE LIBOR USD 3 Month + 3.75%), 6.00%, 12/29/2027(1)

     60        52  

Diamond BC BV First Lien Term Loan B (ICE LIBOR USD 3 Month + 2.75%), 3.99%, 9/29/2028(1)

     119        110  

Iris Holding, Inc. First Lien Term Loan

     

(SOFR + 4.75%), 6.34%, 6/28/2028 (1)(2)

     250        228  

(SOFR + 4.75%), 6.86%, 6/28/2028 (1)(2)

     250        228  
     

 

 

 
        618  
     

 

 

 

Commercial Services - 12.9%

     

Digital Room Holdings, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 5.25%), 6.92%, 12/21/2028(1)

     579        505  

Employbridge Holding Co. First Lien Term Loan B (ICE LIBOR USD 3 Month + 4.75%), 7.00%, 7/19/2028(1)

     1,503        1,364  

KUEHG Corp. First Lien Term Loan B (ICE LIBOR USD 3 Month + 3.75%), 6.00%, 2/21/2025(1)

     2,417        2,244  

Midas Intermediate Holdco II LLC First Lien Term Loan B (ICE LIBOR USD 3 Month + 7.75%), 12.50%, 12/22/2025(1)

     514        470  

National Intergovernmental Purchasing Alliance Co. First Lien Term Loan (ICE LIBOR USD 3 Month + 3.50%), 5.75%, 5/23/2025(1)

     363        345  

National Intergovernmental Purchasing Alliance Co. Second Lien Term Loan (ICE LIBOR USD 3 Month + 7.50%), 8.51%, 5/22/2026(1)

     315        304  

Spin Holdco, Inc. First Lien Term Loan B (ICE LIBOR USD 3 Month + 4.00%), 5.61%, 3/4/2028(1)

     174        160  

Trans Union LLC First Lien Term Loan B5 (ICE LIBOR USD 1 Month + 1.75%), 3.42%, 11/16/2026(1)

     748        704  
     

 

 

 
        6,096  
     

 

 

 

Distribution/Wholesale - 2.0%

     

BCPE Empire Holdings, Inc. First Lien Term Loan (SOFR + 4.63%), 6.25%, 6/11/2026(1)

     998        933  
     

 

 

 

Diversified Financial Services - 5.9%

     

Advisor Group Holdings, Inc. First Lien Term Loan B1 (ICE LIBOR USD 1 Month + 4.50%), 6.17%, 7/31/2026(1)

     119        113  

Edelman Financial Engines Center LLC First Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%), 5.17%, 4/7/2028(1)

     641        592  

Edelman Financial Engines Center LLC Second Lien Term Loan (ICE LIBOR USD 1 Month + 6.75%), 8.42%, 7/20/2026(1)

     1,250        1,138  

Artisan Floating Rate Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Principal amount, shares and dollar values in thousands

 

Focus Financial Partners LLC First Lien Term Loan B3 (ICE LIBOR USD 1 Month + 2.00%), 3.67%, 7/3/2024(1)

     997        956  
     

 

 

 
        2,799  
     

 

 

 

Entertainment - 0.4%

     

J&J Ventures Gaming LLC First Lien Term Loan (ICE LIBOR USD 3 Month + 4.00%), 6.25%, 4/26/2028(1)

     130        123  

Lucky Bucks LLC First Lien Term Loan B (ICE LIBOR USD 3 Month + 5.50%), 6.25%, 7/30/2027(1)

     58        53  
     

 

 

 
        176  
     

 

 

 

Food - 0.2%

     

Shearer’s Foods LLC First Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%), 5.17%, 9/23/2027(1)

     119        108  
     

 

 

 

Food Service - 2.9%

     

TKC Holdings, Inc. First Lien Term Loan (ICE LIBOR USD 3 Month + 5.50%), 7.00%, 5/15/2028(1)

     1,223        1,150  

TKC Midco 1 LLC First Lien Term Loan 12.00%, 2/15/2027

     187        169  
     

 

 

 
        1,319  
     

 

 

 

Healthcare-Services - 0.4%

     

Surgery Center Holdings, Inc. First Lien Term Loan (ICE LIBOR USD 1 Month + 3.75%), 4.95%, 8/31/2026(1)

     203        189  
     

 

 

 

Household Products/Wares - 2.0%

     

VC GB Holdings I Corp. First Lien Term Loan (ICE LIBOR USD 3 Month + 3.50%), 6.38%, 7/21/2028(1)

     1,055        918  
     

 

 

 

Insurance - 11.8%

     

Acrisure LLC First Lien Term Loan B3 (ICE LIBOR USD 1 Month + 4.25%), 5.92%, 2/15/2027(1)

     234        220  

Alliant Holdings Intermediate LLC First Lien Term Loan B (ICE LIBOR USD 1 Month + 3.25%), 4.92%, 5/9/2025(1)

     341        320  

AssuredPartners, Inc. First Lien Term Loan (SOFR + 3.50%), 5.03%, 2/12/2027(1)

     1,247        1,160  

AssuredPartners, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 3.50%), 5.17%, 2/12/2027(1)

     576        539  

BroadStreet Partners, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 3.00%), 4.67%, 1/27/2027(1)

     740        695  

Hub International Ltd. First Lien Term Loan B (ICE LIBOR USD 3 Month + 3.00%), 4.21%, 4/25/2025(1)

     854        807  

IMA Financial Group, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 3.75%), 5.42%, 11/1/2028(1)

     274        258  

USI, Inc. First Lien Term Loan B (ICE LIBOR USD 3 Month + 3.00%), 5.25%, 5/16/2024(1)

     1,508        1,443  
     

 

 

 
        5,442  
     

 

 

 

Internet - 1.5%

     

Arches Buyer, Inc. First Lien Term Loan (ICE LIBOR USD 1 Month + 3.25%), 4.92%, 12/6/2027(1)

     796        724  
     

 

 

 

Investment Companies - 2.4%

     

Nexus Buyer LLC Second Lien Term Loan (ICE LIBOR USD 1 Month + 6.25%), 7.44%, 11/5/2029(1)

     1,211        1,130  
     

 

 

 

Leisure Time - 3.3%

     

Carnival Corp. First Lien Term Loan B (ICE LIBOR USD 3 Month + 3.25%), 6.13%, 10/18/2028(1)

     582        521  

MajorDrive Holdings IV LLC First Lien Term Loan B (ICE LIBOR USD 3 Month + 4.00%), 5.63%, 6/1/2028(1)

     119        107  

NCL Corp., Ltd. First Lien Term Loan A (ICE LIBOR USD 3 Month + 1.75%), 4.00%, 1/2/2024(1)

     971        925  
     

 

 

 
        1,553  
     

 

 

 

Lodging - 0.1%

     

Jack Ohio Finance LLC First Lien Term Loan (ICE LIBOR USD 1 Month + 4.75%), 6.42%, 10/4/2028(1)

     34        32  
     

 

 

 

Packaging & Containers - 1.1%

     

Clydesdale Acquisition Holdings, Inc. First Lien Term Loan

     

Artisan Floating Rate Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Principal amount, shares and dollar values in thousands

 

(SOFR + 4.25%), 5.88%, 4/13/2029(1)

     577        538  
     

 

 

 

Pharmaceuticals - 0.5%

     

Sharp Midco LLC First Lien Term Loan B (ICE LIBOR USD 3 Month + 4.00%), 6.25%, 12/31/2028(1)

     244        229  
     

 

 

 

Retail - 4.6%

     

Fogo De Chao, Inc. First Lien Term Loan (ICE LIBOR USD 1 Month + 4.25%), 5.92%, 4/7/2025(1)

     863        817  

Portillo’s Holdings LLC First Lien Term Loan (ICE LIBOR USD 1 Month + 5.50%), 7.17%, 9/6/2024(1)

     83        82  

SRS Distribution, Inc. First Lien Term Loan B

     

(SOFR + 3.50%), 4.00%, 6/2/2028(1)

     998        916  

(ICE LIBOR USD 3 Month + 3.50%), 4.02%, 6/2/2028(1)

     333        307  
     

 

 

 
        2,122  
     

 

 

 

Software - 18.8%

     

Applied Systems, Inc. First Lien Term Loan B (ICE LIBOR USD 3 Month + 3.00%), 4.01%, 9/19/2024(1)

     232        222  

Applied Systems, Inc. Second Lien Term Loan (ICE LIBOR USD 3 Month + 5.50%), 6.51%, 9/19/2025(1)

     118        114  

CDK Global, Inc. Term Loan B (SOFR + 4.50%), 6.61%, 6/8/2029(1)

     500        471  

CommerceHub, Inc. First Lien Term Loan B (ICE LIBOR USD 3 Month + 4.00%), 6.25%, 12/29/2027(1)

     497        437  

CommerceHub, Inc. Second Lien Term Loan B (ICE LIBOR USD 3 Month + 7.00%), 9.25%, 12/29/2028(1)

     60        51  

Epicor Software Corp. First Lien Term Loan C (ICE LIBOR USD 1 Month + 3.25%), 4.92%, 7/30/2027(1)

     581        547  

Finastra USA, Inc. First Lien Term Loan B (ICE LIBOR USD 3 Month + 3.50%), 4.74%, 6/13/2024(1)

     204        183  

Loyalty Ventures, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 4.50%), 6.17%, 11/3/2027(1)

     390        303  

Matrix Parent, Inc. First Lien Term Loan (SOFR + 5.00%), 6.55%, 3/1/2029(1)

     929        884  

Orchid Finco LLC First Lien Term Loan B (SOFR + 4.75%), 7.58%, 7/27/2027(1)

     839        814  

RealPage, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 3.00%), 4.67%, 4/24/2028(1)

     432        398  

Renaissance Holdings Corp. First Lien Term Loan

     

(ICE LIBOR USD 1 Month + 3.25%), 4.92%, 5/30/2025(1)

     233        220  

(SOFR + 4.50%), 5.58%, 3/30/2029(1)

     1,000        952  

Renaissance Holdings Corp. Second Lien Term Loan (ICE LIBOR USD 1 Month + 7.00%), 8.67%, 5/29/2026(1)

     120        111  

SS&C Technologies Holdings, Inc. First Lien Term Loan B3 (ICE LIBOR USD 1 Month + 1.75%), 3.42%, 4/16/2025(1)

     1,009        956  

SS&C Technologies Holdings, Inc. First Lien Term Loan B4 (ICE LIBOR USD 1 Month + 1.75%), 3.42%, 4/16/2025(1)

     819        776  

UKG, Inc. First Lien Term Loan (ICE LIBOR USD 3 Month + 3.25%), 4.21%, 5/4/2026(1)

     284        265  

UKG, Inc. Second Lien Term Loan (ICE LIBOR USD 3 Month + 5.25%), 6.21%, 5/3/2027(1)

     285        262  

Virgin Pulse, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 4.00%), 5.67%, 4/6/2028(1)

     991        841  
     

 

 

 
        8,807  
     

 

 

 

Telecommunications - 6.9%

     

Delta Topco, Inc. First Lien Term Loan B (ICE LIBOR USD 3 Month + 3.75%), 5.84%, 12/1/2027(1)

     204        184  

Delta Topco, Inc. Second Lien Term Loan (ICE LIBOR USD 3 Month + 7.25%), 9.34%, 12/1/2028(1)

     75        64  

Gridiron Fiber Corp. First Lien Term Loan B (ICE LIBOR USD 3 Month + 4.50%), 6.75%, 10/4/2028(1)

     2,195        2,063  

Artisan Floating Rate Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Principal amount, shares and dollar values in thousands

 

Maxar Technologies, Inc. First Lien Term Loan B (SOFR + 4.25%), 5.88%, 6/14/2029(1)

     1,000        948  
     

 

 

 
        3,259  
     

 

 

 

Transportation - 2.4%

     

SIRVA Worldwide, Inc. First Lien Term Loan

     

(ICE LIBOR USD 3 Month + 5.50%), 6.51%, 8/4/2025(1)

     3        3  

(ICE LIBOR USD 3 Month + 5.50%), 6.56%, 8/4/2025(1)

     888        790  

(ICE LIBOR USD 3 Month + 5.50%), 6.74%, 8/4/2025(1)

     200        178  

(ICE LIBOR USD 3 Month + 5.50%), 7.07%, 8/4/2025(1)

     190        169  
     

 

 

 
        1,140  
     

 

 

 

Total bank loans (Cost $43,531)

        40,812  
     

 

 

 

CORPORATE BONDS - 6.2%

     

Banks - 1.1%

     

Goldman Sachs Capital II (ICE LIBOR USD 3 Month + 0.77%, 4.00% Floor), 4.00%, 8/1/2022(1)(3)

     720        513  
     

 

 

 

Insurance - 1.6%

     

Acrisure LLC 4.25%, 2/15/2029(4)

     300        243  

Alliant Holdings Intermediate LLC 4.25%, 10/15/2027(4)

     580        502  
     

 

 

 
        745  
     

 

 

 

Internet - 1.0%

     

Arches Buyer, Inc. 4.25%, 6/1/2028(4)

     585        476  
     

 

 

 

Miscellaneous Manufacturing - 2.0%

     

General Electric Co. Series D, (ICE LIBOR USD 3 Month + 3.33%), 5.16%, 9/15/2022(1)(3)

     1,060        929  
     

 

 

 

Retail - 0.5%

     

SRS Distribution, Inc. 4.63%, 7/1/2028(4)

     285        249  
     

 

 

 

Total corporate bonds (Cost $3,321)

        2,912  
     

 

 

 
     Shares Held         

SHORT-TERM INVESTMENTS - 3.9%

     

INVESTMENT COMPANIES - 3.9%

     

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34%

     614        614  

Federated Treasury Obligations Fund - Institutional Class, 1.38%

     595        595  

Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 1.31%

     596        596  
     

 

 

 

Total short-term investments (Cost $1,805)

        1,805  
     

 

 

 

Total investments - 97.3% (Cost $48,657)

        45,529  

Other assets less liabilities - 2.7%

        1,279  
     

 

 

 

Total net assets - 100.0%#

      $ 46,808  
     

 

 

 

Artisan Floating Rate Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

 

(1) 

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022.

(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

Birkenstock US BidCo, Inc. First Lien Term Loan B, 5.10%, 4/28/2028

   Germany    USD

Iris Holding, Inc. First Lien Term Loan, 6.34%, 6/28/2028

   Canada    USD

 

(3) 

Perpetual security. The rate reflected was the rate in effect on June 30, 2022. The maturity date reflects the next call date.

(4) 

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.

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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 92.8%

     

Aerospace & Defense - 6.6%

     

Northrop Grumman Corp.

     135      $ 64,765  

TransDigm Group, Inc.*

     99        52,978  
     

 

 

 
        117,743  
     

 

 

 

Beverages - 3.5%

     

Monster Beverage Corp.*

     677        62,800  
     

 

 

 

Capital Markets - 4.1%

     

S&P Global, Inc.

     218        73,391  
     

 

 

 

Chemicals - 4.4%

     

Linde plc(1)

     274        78,917  
     

 

 

 

Communications Equipment - 3.0%

     

Motorola Solutions, Inc.

     255        53,493  
     

 

 

 

Construction & Engineering - 1.6%

     

Quanta Services, Inc.

     222        27,773  
     

 

 

 

Electric Utilities - 5.2%

     

NextEra Energy, Inc.

     1,197        92,734  
     

 

 

 

Equity Real Estate Investment Trusts (REITs) - 8.0%

     

American Tower Corp.

     346        88,336  

SBA Communications Corp.

     171        54,742  
     

 

 

 
        143,078  
     

 

 

 

Health Care Providers & Services - 10.5%

     

McKesson Corp.

     192        62,615  

UnitedHealth Group, Inc.

     242        124,490  
     

 

 

 
        187,105  
     

 

 

 

Hotels, Restaurants & Leisure - 1.0%

     

Hilton Worldwide Holdings, Inc.

     158        17,601  
     

 

 

 

Insurance - 3.7%

     

Aon plc, Class A

     246        66,265  
     

 

 

 

IT Services - 2.9%

     

Visa, Inc., Class A

     260        51,106  
     

 

 

 

Life Sciences Tools & Services - 1.5%

     

Danaher Corp.

     106        26,854  
     

 

 

 

Multiline Retail - 1.0%

     

Dollar Tree, Inc.*

     114        17,761  
     

 

 

 

Oil, Gas & Consumable Fuels - 3.8%

     

Cheniere Energy, Inc.

     505        67,217  
     

 

 

 

Pharmaceuticals - 1.7%

     

Zoetis, Inc.

     179        30,700  
     

 

 

 

Road & Rail - 7.4%

     

Canadian National Railway Co.(1)

     196        22,037  

Canadian Pacific Railway Ltd.(1)

     1,573        109,891  
     

 

 

 
        131,928  
     

 

 

 

Software - 15.9%

     

Microsoft Corp.

     759        195,033  

Palo Alto Networks, Inc.*

     127        62,502  

ServiceNow, Inc.*

     56        26,400  
     

 

 

 
        283,935  
     

 

 

 

Wireless Telecommunication Services - 7.0%

     

T-Mobile US, Inc.*

     930        125,153  
     

 

 

 

Total common stocks (Cost $1,557,234)

        1,655,554  
     

 

 

 
     No. of
Contracts 
        

OPTIONS PURCHASED - 1.0%

     

Call Options - 1.0%

     

Electric Utilities - 0.3%

     

NextEra Energy, Inc. 12/16/2022 at USD 72.50; Notional Amount: USD 46,368

     5,986        5,447  
     

 

 

 

IT Services - 0.7%

     

Visa, Inc. 1/20/2023 at USD 135.00; Notional Amount: USD 39,772

     2,020        13,352  
     

 

 

 

Total Call Options

        18,799  
     

 

 

 

Total Options Purchased (Cost $18,392)

        18,799  
     

 

 

 
     Shares Held         

SHORT-TERM INVESTMENT - 5.5%

     

INVESTMENT COMPANY - 5.5%

     

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $98,379)

     98,379        98,379  
     

 

 

 

Total investments - 99.3% (Cost $1,674,005)

        1,772,732  

Other assets less liabilities - 0.7%

        11,866  
     

 

 

 

Total net assets - 100.0%#

      $ 1,784,598  
     

 

 

 

Artisan Focus Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

 

One contract is equal to 100 shares.

(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 National Railway Co.

   Canada    USD

Canadian Pacific Railway Ltd.

   Canada    USD

Linde plc

   United Kingdom    USD

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 125,153        7.1

Consumer Discretionary

     35,362        2.0  

Consumer Staples

     62,800        3.5  

Energy

     67,217        3.8  

Financials

     139,656        7.8  

Health Care

     244,659        13.8  

Industrials

     277,444        15.6  

Information Technology

     401,886        22.7  

Materials

     78,917        4.5  

Real Estate

     143,078        8.1  

Utilities

     98,181        5.5  

Short-Term Investment

     98,379        5.6  
  

 

 

    

 

 

 

Total investments

   $ 1,772,732        100.0
  

 

 

    

 

 

 

Artisan Focus Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

FOREIGN CURRENCY FORWARD CONTRACTS

Values in thousands

 

Currency Purchased

     Currency Sold      Counterparty    Settlement
Date
     Unrealized
Appreciation
(Depreciation)
 

USD

     121,048        CAD        155,270      JPM      8/11/2022      $ 421  
     

 

 

 

Total unrealized appreciation

 

           421  
     

 

 

 

CAD

     4,341        USD        3,395      JPM      8/11/2022        (22

USD

     5,854        CAD        7,624      JPM      8/11/2022        (69
                 

 

 

 

Total unrealized depreciation

        (91
     

 

 

 

Net unrealized appreciation

      $ 330  
     

 

 

 

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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 93.9%

 

Brazil - 1.6%

 

Hapvida Participacoes e Investimentos SA *

     1,934      $ 2,018  

NU Holdings Ltd., Class A *

     582        2,177  
     

 

 

 
        4,195  
     

 

 

 

Canada - 2.5%

 

Altus Group Ltd.

     73        2,532  

CAE, Inc. *

     164        4,050  
     

 

 

 
        6,582  
     

 

 

 

China - 0.6%

 

Chervon Holdings Ltd.

     275        1,545  
     

 

 

 

Denmark - 4.9%

 

Ascendis Pharma A/S, ADR *

     78        7,266  

Genmab A/S *

     8        2,668  

Vestas Wind Systems A/S

     148        3,129  
     

 

 

 
        13,063  
     

 

 

 

Finland - 1.4%

 

Metso Outotec OYJ

     509        3,812  
     

 

 

 

Germany - 3.8%

 

CTS Eventim AG & Co. KGaA *

     35        1,830  

Gerresheimer AG

     49        3,207  

Puma SE

     76        4,997  
     

 

 

 
        10,034  
     

 

 

 

Hong Kong - 3.5%

 

Techtronic Industries Co. Ltd.

     893        9,314  
     

 

 

 

Iceland - 1.0%

 

Marel HF

     597        2,673  
     

 

 

 

Italy - 0.3%

 

Moncler SpA

     16        697  
     

 

 

 

Japan - 1.9%

 

Obic Co. Ltd.

     35        4,950  
     

 

 

 

Luxembourg - 1.9%

 

Eurofins Scientific SE

     66        5,165  
     

 

 

 

Netherlands - 3.7%

 

Argenx SE, ADR *

     18        6,756  

Koninklijke DSM NV

     20        2,944  
     

 

 

 
        9,700  
     

 

 

 

Norway - 0.9%

 

Nordic Semiconductor ASA *

     159        2,462  
     

 

 

 

Spain - 0.6%

 

Banco Bilbao Vizcaya Argentaria SA

     325        1,473  
     

 

 

 

United Kingdom - 4.2%

 

CNH Industrial NV

     485        5,604  

London Stock Exchange Group plc

     59        5,465  
     

 

 

 
        11,069  
     

 

 

 

United States - 61.1%

 

Advanced Micro Devices, Inc. *

     121        9,280  

Arista Networks, Inc. *

     40        3,728  

Atlassian Corp. plc, Class A *

     36        6,665  

Azenta, Inc.

     43        3,118  

Bentley Systems, Inc., Class B

     75        2,503  

Boston Scientific Corp. *

     247        9,213  

Burlington Stores, Inc. *

     29        3,911  

Catalent, Inc. *

     90        9,640  

Cooper Cos., Inc. (The)

     6        1,882  

Datadog, Inc., Class A *

     16        1,481  

First Republic Bank

     51        7,335  

Five Below, Inc. *

     15        1,657  

Generac Holdings, Inc. *

     10        2,060  

Global Payments, Inc.

     55        6,074  

HubSpot, Inc. *

     17        5,247  

Ingersoll Rand, Inc.

     184        7,735  

iRhythm Technologies, Inc. *

     10        1,033  

Lattice Semiconductor Corp. *

     117        5,682  

Morningstar, Inc.

     20        4,856  

Nasdaq, Inc.

     43        6,592  

Novanta, Inc. *

     23        2,829  

ON Semiconductor Corp. *

     115        5,798  

Papa John’s International, Inc.

     38        3,133  

S&P Global, Inc.

     8        2,611  

SVB Financial Group *

     12        4,922  

Take-Two Interactive Software, Inc. *

     21        2,556  

Teledyne Technologies, Inc. *

     16        5,946  

Tradeweb Markets, Inc., Class A

     60        4,109  

Valmont Industries, Inc.

     37        8,306  

Veeva Systems, Inc., Class A *

     76        15,119  

Wolfspeed, Inc. *

     32        2,046  

Workiva, Inc. *

     37        2,436  

Zscaler, Inc. *

     17        2,603  
     

 

 

 
        162,106  
     

 

 

 

Total common stocks (Cost $253,378)

 

     248,840  
     

 

 

 

SHORT-TERM INVESTMENT - 5.4%

 

INVESTMENT COMPANY - 5.4%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $14,369)

     14,369        14,369  
     

 

 

 

Total investments - 99.3% (Cost $267,747)

 

     263,209  

Other assets less liabilities - 0.7%

 

     1,944  
     

 

 

 

Total net assets - 100.0%#

 

   $ 265,153  
  

 

 

 

Artisan Global Discovery Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 4,386        1.7

Consumer Discretionary

     15,940        6.1  

Financials

     39,540        15.0  

Health Care

     67,085        25.5  

Industrials

     46,683        17.7  

Information Technology

     69,730        26.4  

Materials

     2,944        1.1  

Real Estate

     2,532        1.0  

Short-Term Investment

     14,369        5.5  
  

 

 

    

 

 

 

Total investments

   $ 263,209        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

BRL

   $ 2,018        0.8

CAD

     6,582        2.5  

DKK

     5,797        2.2  

EUR

     32,402        12.3  

GBP

     5,465        2.1  

HKD

     10,859        4.1  

JPY

     4,950        1.9  

NOK

     2,462        0.9  

USD

     192,674        73.2  
  

 

 

    

 

 

 

Total investments

   $ 263,209        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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 99.1%

 

Belgium - 1.3%

 

UCB SA

     31      $ 2,633  
     

 

 

 

Brazil - 0.6%

 

Vale SA

     92        1,351  
     

 

 

 

Canada - 5.8%

 

Canadian National Railway Co.

     21        2,356  

Canadian Pacific Railway Ltd.

     94        6,587  

Descartes Systems Group, Inc. (The) *

     23        1,398  

Kinaxis, Inc. *

     15        1,608  
     

 

 

 
        11,949  
     

 

 

 

China - 4.7%

 

CGN Power Co. Ltd., Class H

     6,725        1,628  

China Longyuan Power Group Corp. Ltd., Class H

     1,725        3,333  

China Tourism Group Duty Free Corp. Ltd., Class A *

     70        2,450  

New Horizon Health Ltd. *

     775        2,329  
     

 

 

 
        9,740  
     

 

 

 

Denmark - 2.8%

 

Ascendis Pharma A/S, ADR *

     27        2,556  

ROCKWOOL A/S, Class B

     14        3,193  
     

 

 

 
        5,749  
     

 

 

 

Finland - 0.5%

 

Neste OYJ

     24        1,066  
     

 

 

 

France - 3.9%

 

BNP Paribas SA

     79        3,770  

Capgemini SE

     12        2,007  

LVMH Moet Hennessy Louis Vuitton SE

     4        2,326  
     

 

 

 
        8,103  
     

 

 

 

Germany - 3.4%

 

Brenntag SE

     41        2,684  

Deutsche Post AG

     104        3,907  

KION Group AG

     13        549  
     

 

 

 
        7,140  
     

 

 

 

India - 1.5%

 

Reliance Industries Ltd. *

     92        3,021  
     

 

 

 

Italy - 2.0%

 

BFF Bank SpA

     609        4,095  
     

 

 

 

Japan - 2.8%

 

Azbil Corp.

     151        3,957  

Toyota Industries Corp.

     30        1,874  
     

 

 

 
        5,831  
     

 

 

 

Luxembourg - 1.6%

 

Majorel Group Luxembourg SA

     127        3,406  
     

 

 

 

Netherlands - 9.4%

 

Argenx SE, ADR *

     20        7,401  

Argenx SE *

     1        343  

ING Groep NV

     487        4,811  

Shell plc

     260        6,763  

Shell plc, ADR

     3        134  
     

 

 

 
        19,452  
     

 

 

 

Norway - 0.5%

 

Volue ASA *

     436        1,052  
     

 

 

 

Russia - 0.0%

 

MMC Norilsk Nickel PJSC, ADR(1)(2)

     136        —    

Sberbank of Russia PJSC *(1)(2)

     1,137        —    
     

 

 

 
        —    
     

 

 

 

Spain - 1.7%

 

Ferrovial SA

     135        3,430  
     

 

 

 

Sweden - 2.0%

 

Nibe Industrier AB, Class B

     406        3,046  

Viaplay Group AB, Class B *

     57        1,160  
     

 

 

 
        4,206  
     

 

 

 

Switzerland - 2.3%

 

Barry Callebaut AG

     1        1,832  

Medacta Group SA

     9        835  

UBS Group AG

     125        2,015  
     

 

 

 
        4,682  
     

 

 

 

United Kingdom - 3.1%

 

Barclays plc

     1,701        3,170  

Linde plc

     6        1,633  

Unilever plc

     34        1,527  
     

 

 

 
        6,330  
     

 

 

 

United States - 49.2%

 

ACADIA Pharmaceuticals, Inc. *

     105        1,474  

Alphabet, Inc., Class A *

     2        4,803  

Alphabet, Inc., Class C *

     2        3,957  

Altair Engineering, Inc., Class A *

     81        4,233  

Amazon.com, Inc. *

     62        6,596  

American Software, Inc., Class A

     4        70  

Aon plc, Class A

     10        2,703  

Booking Holdings, Inc. *

     3        5,628  

Chesapeake Energy Corp.

     26        2,135  

Crown Holdings, Inc.

     47        4,297  

Darling Ingredients, Inc. *

     69        4,106  

Devon Energy Corp.

     42        2,306  

EQT Corp.

     157        5,390  

Halozyme Therapeutics, Inc. *

     236        10,386  

Horizon Therapeutics plc *

     21        1,714  

Intercontinental Exchange, Inc.

     28        2,634  

L3Harris Technologies, Inc.

     16        3,751  

Microsoft Corp.

     21        5,453  

Natera, Inc. *

     84        2,971  

NOV, Inc.

     270        4,570  

Artisan Global Equity Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Shares and dollar values in thousands

 

Schlumberger NV

     223        7,959  

Stryker Corp.

     13        2,578  

TJX Cos., Inc. (The)

     59        3,281  

T-Mobile US, Inc. *

     47        6,371  

Vertiv Holdings Co.

     243        1,997  

Workiva, Inc. *

     4        281  
     

 

 

 
        101,644  
     

 

 

 

Total common stocks (Cost $224,304)

 

     204,880  
     

 

 

 

Total investments - 99.1% (Cost $224,304)

 

     204,880  

Other assets less liabilities - 0.9%

 

     1,888  
     

 

 

 

Total net assets - 100.0%#

 

   $ 206,768  
  

 

 

 

Artisan Global Equity Fund

Schedule of Investments (continued)

June 30, 2022 (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 $–, or 0.0% of total net assets. See notes (A) and (B) in the accompanying notes.

(2) 

Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 16,291        8.0

Consumer Discretionary

     20,281        9.9  

Consumer Staples

     7,465        3.6  

Energy

     33,344        16.3  

Financials

     23,198        11.3  

Health Care

     35,220        17.2  

Industrials

     33,374        16.3  

Information Technology

     23,465        11.4  

Materials

     7,281        3.6  

Utilities

     4,961        2.4  
  

 

 

    

 

 

 

Total investments

   $ 204,880        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

BRL

   $ 1,351        0.7

CAD

     11,949        5.8  

CHF

     4,682        2.3  

CNY

     2,450        1.2  

DKK

     3,193        1.6  

EUR

     36,660        17.9  

GBP

     11,460        5.6  

HKD

     7,290        3.6  

INR

     3,021        1.5  

JPY

     5,831        2.7  

NOK

     1,052        0.5  

SEK

     4,206        2.1  

USD

     111,735        54.5  
  

 

 

    

 

 

 

Total investments

   $ 204,880        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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 94.3%

 

Brazil - 0.8%

 

NU Holdings Ltd., Class A *

     7,784      $ 29,112  
     

 

 

 

Denmark - 4.4%

 

Genmab A/S *

     143        46,318  

Novo Nordisk A/S, Class B

     558        61,896  

Vestas Wind Systems A/S

     1,981        41,837  
     

 

 

 
        150,051  
     

 

 

 

Germany - 1.2%

 

Volkswagen AG (Preference)

     305        40,778  
     

 

 

 

Hong Kong - 6.5%

 

AIA Group Ltd.

     6,641        71,978  

Techtronic Industries Co. Ltd.

     14,639        152,697  
     

 

 

 
        224,675  
     

 

 

 

Japan - 2.8%

 

Hoya Corp.

     517        44,118  

Keyence Corp.

     158        54,147  
     

 

 

 
        98,265  
     

 

 

 

Netherlands - 1.5%

 

Koninklijke DSM NV

     351        50,453  
     

 

 

 

Spain - 1.3%

 

Banco Bilbao Vizcaya Argentaria SA

     10,104        45,856  
     

 

 

 

Sweden - 4.3%

 

Hexagon AB, Class B

     6,265        65,066  

Telefonaktiebolaget LM Ericsson, Class B

     11,297        84,224  
     

 

 

 
        149,290  
     

 

 

 

Switzerland - 8.1%

 

Cie Financiere Richemont SA

     222        23,607  

Lonza Group AG

     208        110,742  

UBS Group AG

     9,009        145,239  
     

 

 

 
        279,588  
     

 

 

 

United Kingdom - 6.9%

 

AstraZeneca plc

     719        94,585  

CNH Industrial NV

     6,675        77,089  

London Stock Exchange Group plc

     728        67,614  
     

 

 

 
        239,288  
     

 

 

 

United States - 56.5%

 

Advanced Micro Devices, Inc. *

     2,339        178,833  

Airbnb, Inc., Class A *

     644        57,387  

Alphabet, Inc., Class A *

     60        129,860  

Aptiv plc *

     546        48,616  

Arista Networks, Inc. *

     624        58,472  

Atlassian Corp. plc, Class A *

     559        104,720  

Boston Scientific Corp. *

     3,385        126,158  

Burlington Stores, Inc. *

     367        49,974  

Charles Schwab Corp. (The)

     1,409        89,037  

Chipotle Mexican Grill, Inc. *

     46        60,697  

Danaher Corp.

     340        86,268  

Fidelity National Information Services, Inc.

     1,091        100,038  

Generac Holdings, Inc. *

     141        29,710  

HubSpot, Inc. *

     52        15,629  

Ingersoll Rand, Inc.

     1,745        73,432  

Lowe’s Cos., Inc.

     309        54,037  

Lululemon Athletica, Inc. *

     239        65,035  

Microsoft Corp.

     217        55,689  

NextEra Energy, Inc.

     2,301        178,264  

ON Semiconductor Corp. *

     1,514        76,155  

Progressive Corp. (The)

     663        77,043  

S&P Global, Inc.

     84        28,305  

Tesla, Inc. *

     38        25,422  

Veeva Systems, Inc., Class A *

     908        179,732  
     

 

 

 
        1,948,513  
     

 

 

 

Total common stocks (Cost $2,770,962)

 

     3,255,869  
  

 

 

 

SHORT-TERM INVESTMENT - 4.7%

 

INVESTMENT COMPANY - 4.7%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $162,960)

     162,960        162,960  
     

 

 

 

Total investments - 99.0% (Cost $2,933,922)

 

     3,418,829  

Other assets less liabilities - 1.0%

 

     32,862  
  

 

 

 

Total net assets - 100.0%#

 

   $ 3,451,691  
  

 

 

 

Artisan Global Opportunities Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 129,860        3.8

Consumer Discretionary

     425,553        12.4  

Financials

     554,184        16.2  

Health Care

     749,817        21.9  

Industrials

     374,765        11.0  

Information Technology

     792,973        23.2  

Materials

     50,453        1.5  

Utilities

     178,264        5.2  

Short-Term Investment

     162,960        4.8  
  

 

 

    

 

 

 

Total investments

   $ 3,418,829        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CHF

   $ 279,588        8.2

DKK

     150,051        4.4  

EUR

     214,176        6.3  

GBP

     162,199        4.7  

HKD

     224,675        6.6  

JPY

     98,265        2.9  

SEK

     149,290        4.3  

USD

     2,140,585        62.6  
  

 

 

    

 

 

 

Total investments

   $ 3,418,829        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.

Artisan Global Unconstrained Fund

Schedule of Investments

June 30, 2022 (Unaudited)

Principal amount, shares and values in thousands and reported in USD unless otherwise stated

 

     Principal
Amount
     Value  

SOVEREIGN GOVERNMENT BONDS - 37.5%

 

Albania - 1.5%

 

Republic of Albania 3.50%, 10/9/2025

   EUR 200      $ 188  

Angola - 3.4%

 

Republic of Angola

 

  

(ICE LIBOR USD 6 Month + 7.50%), 7.85%, 7/1/2023 (4)

   $ 328        327  

6.93%, 2/19/2027

     114        104  
     

 

 

 
        431  
     

 

 

 

Bahamas - 0.7%

     

Commonwealth of the Bahamas 5.75%, 1/16/2024

     99        86  

Brazil - 0.6%

 

Notas do Tesouro Nacional 10.00%, 1/1/2031

   BRL 540        83  

Cameroon - 1.5%

 

Republic of Cameroon 9.50%, 11/19/2025

     200        199  

Dominican Republic - 5.5%

 

Dominican Republic Government Bond

 

  

8.90%, 2/15/2023

   DOP 22,350        406  

11.50%, 5/10/2024

   DOP 4,700        87  

4.88%, 9/23/2032

     150        115  

5.30%, 1/21/2041

     150        104  
     

 

 

 
        712  
     

 

 

 

Egypt - 1.2%

     

Arab Republic of Egypt 4.75%, 4/16/2026

   EUR 200        156  

Iceland - 0.8%

 

Republic of Iceland 7.25%, 10/26/2022

   ISK 13,000        98  

Iraq - 2.8%

 

Republic of Iraq

 

  

6.75%, 3/9/2023

     200        195  

5.80%, 1/15/2028

     188        168  
     

 

 

 
        363  
     

 

 

 

Ivory Coast - 1.2%

     

Republic of Cote d’Ivoire 4.88%, 1/30/2032

   EUR 200        150  

Kazakhstan - 0.8%

 

Republic of Kazakhstan 1.55%, 11/9/2023

   EUR 100        103  

Kenya - 1.2%

 

Republic of Kenya 7.00%, 5/22/2027

     200        149  

Macedonia, the Former Yugoslav Republic of - 2.5%

 

Republic of North Macedonia 5.63%, 7/26/2023

   EUR 300        316  

Nigeria - 2.0%

 

Federal Republic of Nigeria 7.63%, 11/21/2025

     286        252  

Paraguay - 2.2%

 

Republic of Paraguay

 

  

4.63%, 1/25/2023

     115        115  

6.10%, 8/11/2044

     200        174  
     

 

 

 
        289  
     

 

 

 

Romania - 1.8%

     

Romania Government Bond 3.62%, 5/26/2030

   EUR 270        231  

Serbia - 1.4%

 

Republic of Serbia 3.13%, 5/15/2027

   EUR 200        183  

Tunisia - 0.6%

 

Tunisian Republic 6.75%, 10/31/2023

   EUR 100        72  

Turkey - 1.5%

 

Republic of Turkey 3.25%, 3/23/2023

     200        194  

Uzbekistan - 2.0%

 

Republic of Uzbekistan 14.50%, 11/25/2023

   UZS 2,800,000        251  

Zambia - 2.3%

 

Republic of Zambia

 

  

11.00%, 6/17/2024

   ZMW 2,796        136  

10.00%, 6/28/2024

   ZMW 2,033        97  

10.00%, 9/20/2024

   ZMW 1,378        64  
     

 

 

 
        297  
     

 

 

 

Total Sovereign Government Bonds (Cost $5,209)

 

     4,803  
     

 

 

 

CORPORATE BONDS - 6.8%

     

Brazil - 1.8%

     

Cosan Overseas Ltd. 8.25%, 8/5/2022 (1)

     100        99  

Unigel Luxembourg SA 8.75%, 10/1/2026

     140        139  
     

 

 

 
     238  
     

 

 

 

Chile - 1.0%

 

ATP Tower Holdings LLC 4.05%, 4/27/2026 (2)

     151        124  
     

 

 

 

China - 0.5%

 

CAR, Inc. 9.75%, 3/31/2024

     72        60  
     

 

 

 

Colombia - 0.3%

 

Gran Tierra Energy International Holdings Ltd. 6.25%, 2/15/2025

     54        46  
     

 

 

 

Czech Republic - 0.8%

 

Energo-Pro A/S 4.50%, 5/4/2024

     100        98  
     

 

 

 

Artisan Global Unconstrained Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Principal amount, shares and values in thousands and reported in USD unless otherwise stated

 

Peru - 1.7%

 

Inkia Energy Ltd. 5.88%, 11/9/2027

     126        115  

PetroTal Corp. 12.00%, 2/16/2024

     100        101  
     

 

 

 
        216  
     

 

 

 

Spain - 0.7%

     

EnfraGen Energia Sur SA 5.38%, 12/30/2030

     130        88  
     

 

 

 

Total corporate bonds (Cost $909)

        870  
     

 

 

 
     Notional         

OPTIONS PURCHASED - 0.0%^

     

Call Interest Rate Swaptions - 0.0%^

 

Option to enter into interest rate swap expiring 4/12/2024 to pay 4% and receive 1D SOFR (Cost $2)

     100        2  
     

 

 

 
     2  
  

 

 

 

Total Options Purchased (Cost $2)

 

     2  
  

 

 

 
     Principal
Amount
        

SHORT-TERM INVESTMENTS - 53.0%

 

SOVEREIGN GOVERNMENT TREASURY BILLS - 4.4%

 

Republic of Iceland 4.15%, 7/20/2022(3)

   ISK 65,000        490  

Republic of Iceland 4.81%, 8/24/2022(3)

   ISK  10,900        82  
     

 

 

 

Total Sovereign Government Treasury Bills (Cost $589)

 

     572  
  

 

 

 

U.S. TREASURY OBLIGATIONS - 39.0%

 

U.S. Treasury Bills 0.88%, 7/12/2022(3)

   $ 4,000        3,999  

U.S. Treasury Bills 0.98%, 7/26/2022(3)

     1,000        999  
     

 

 

 

Total U.S. Treasury Obligations (Cost $4,998)

 

     4,998  
  

 

 

 

REPURCHASE AGREEMENT - 0.5%

 

JPMorgan Chase Bank, N.A.: Dated 6/30/22 with an interest rate of 2.5% payable by the Portfolio, due 12/31/49 and a market value, including accrued interest, of $63

     63        63  
     Shares Held         

INVESTMENT COMPANIES - 9.1%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34%

     397        397  

Federated Treasury Obligations Fund - Institutional Class, 1.38%

     386        386  

Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 1.31%

     386        386  
  

 

 

 

Total investment companies (Cost $1,169)

        1,169  
  

 

 

 

Total short-term investments (Cost $6,819)

        6,802  
  

 

 

 

Total investments before securities sold short - 97.3% (Cost 12,939)

        12,477  
     Principal
Amount
        

SECURITY SOLD SHORT - (0.4)%

 

SOVEREIGN GOVERNMENT BONDS - (0.4)%

 

Ukraine - (0.4)%

 

Ukraine Government Bond 0.00%, 5/31/2040(4)

   $ (200      (52
     

 

 

 

Total securities sold short (Proceeds (55))

        (52
  

 

 

 

Total investments after securities sold short - 96.9% (Proceeds $12,884)

        12,425  

Other assets less liabilities - 3.1%

        398  
  

 

 

 

Total net assets - 100.0%#

      $ 12,823  
  

 

 

 

 

(1) 

Perpetual security. The rate reflected was the rate in effect on June 30, 2022. The maturity date reflects the next call date.

(2) 

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.

(3) 

Yield to maturity.

(4) 

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022.

Artisan Global Unconstrained Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Energy

   $ 345        2.8

Foreign Government Securities

     4,803        38.5

Industrials

     184        1.5

Materials

     138        1.1

Options Purchased

     2        0.0^

Utilities

     203        1.6

Short-Term Investments

     6,802        54.5
  

 

 

    

 

 

 

Total investments

   $ 12,477        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

BRL

   $ 83        0.7

DOP

     493        3.9

EUR

     1,497        12.0  

ISK

     670        5.4

USD

     9,186        73.6

UZS

     251        2.0

ZMW

     297        2.4
  

 

 

    

 

 

 

Total investments

   $ 12,477        100.0
  

 

 

    

 

 

 

Artisan Global Unconstrained Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

FOREIGN CURRENCY FORWARD CONTRACTS

Values in thousands

 

Currency Purchased

   Currency Sold     

Counterparty

   Settlement
Date
     Unrealized
Appreciation
(Depreciation)
 

KES**

   26,700      USD       221      JPM      7/5/2022      $ 6  

USD

   103      BRL **      492      JPM      7/5/2022        9  

USD

   258      UZS **      2,800,000      JPM      7/5/2022        —  ^ (1) 

UZS**

   2,800,000      USD       236      JPM      7/5/2022        22 (1) 

UZS**

   471,581      USD       42      JPM      7/13/2022        1 (1) 

USD

   94      BRL **      492      JPM      8/5/2022        1  

USD

   411      THB       13,900      SCB      8/22/2022        17  

HUF

   171,719      EUR       425      SCB      9/2/2022        2  

RON

   1,848      EUR       367      JPM      9/6/2022        2  

USD

   2,557      EUR       2,388      SCB      9/21/2022        40  

USD

   520      ZAR       8,413      SCB      9/30/2022        7  

USD

   326      UGX **      1,251,330      SCB      10/4/2022        2  

USD

   128      UGX **      560,000      SCB      6/18/2024        2  
                

 

 

 

Total unrealized appreciation

        111  
     

 

 

 

BRL**

   492      USD       94      JPM      7/5/2022        —  ^  

KZT**

   175,010      USD       390      SCB      7/18/2022        (19

EGP**

   1,140      USD       59      JPM      8/25/2022        (1

HUF

   27,236      EUR       68      SCB      9/2/2022        —  ^  

PLN

   802      EUR       171      SCB      9/6/2022        (3

UGX**

   124,330      USD       34      JPM      10/4/2022        (2

UGX**

   1,127,000      USD       303      SCB      10/4/2022        (11

UZS**

   300,000      USD       26      JPM      12/27/2022        (1 )(1) 

USD

   154      UGX **      700,000      SCB      6/18/2024        (4
                

 

 

 

Total unrealized depreciation

 

     (41
     

 

 

 

Net unrealized appreciation

 

   $ 70  
     

 

 

 

 

** 

Non-deliverable.

(1) 

Valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

FUTURES CONTRACTS

Dollar values in thousands    

 

Description

   Number of
Contracts
    Expiration
Date
     Trading
Currency
     Notional
Amount
    Unrealized
Appreciation/
(Depreciation)
 

Short Positions Contracts

Euro-Bobl

     (6     9/8/2022        EUR      $ (600   $ 1  

Euro-Bund

     (1     9/8/2022        EUR        (100     1  

Euro-Schatz

     (4     9/8/2022        EUR        (400     —  ^  

U.S. Treasury 2 Year Note

     (5     9/30/2022        USD        (500     2  

U.S. Treasury 5 Year Note

     (6     9/30/2022        USD        (600     —  ^  

U.S. Treasury 10 Year Note

     (8     9/21/2022        USD        (800     9  

U.S. Treasury Long Bond

     (1     9/21/2022        USD        (100     (1
            

 

 

 
             $ 12  
            

 

 

 

Artisan Global Unconstrained Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

Centrally Cleared Credit Default Swaps-Buy Protection

(Dollar 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
 
Kingdom of Saudi Arabia      1.00      Quarterly      6/20/2032        USD 345        (2     3        1  
Republic of Chile      1.00      Quarterly      6/20/2032        USD 300        16       1        17  
Republic of Peru      1.00      Quarterly      6/20/2032        USD 300        20       1        21  
Republic of South Africa      1.00      Quarterly      6/20/2032        USD 765        112       42        154  
Kingdom of Spain      1.00      Quarterly      6/20/2032        USD 570        (12     4        (8
              

 

 

   

 

 

    

 

 

 

Total

 

     134       51        185  
 

 

 

    

 

 

 

 

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 ($)  

6 month WIBOR semi-annually

     5.30 annually        Receive        4/15/2032      PLN 536        —          11       11  

6 month PRIBOR semi-annually

     3.86 annually        Receive        4/4/2032      CZK 2,710        —          10       10  

3 month JIBAR quarterly

     7.26 quarterly        Receive        4/28/2027      ZAR 4,485        —          8       8  

6 month WIBOR semi-annually

     6.45 annually        Receive        5/13/2032      PLN 225        —          1       1  

6 month BUBOR semi-annually

     7.25 annually        Receive        5/13/2032      HUF 18,300        —          2       2  

3 month JIBAR quarterly

     7.98 quarterly        Receive        6/15/2027      ZAR 1,100        —          —  ^       —  ^  

6 month BUBOR annually

     5.77 semi-annually        Receive        4/4/2032      HUF 46,500        —          17       17  
              

 

 

    

 

 

   

 

 

 
                 —          49       49  
              

 

 

    

 

 

   

 

 

 

6 month PRIBOR semi-annually

     4.99 annually        Receive        5/13/2032      CZK  2,800        —          —  ^       —  ^  

4 week TIIE monthly

     8.75 monthly        Pay        5/18/2032      MXN 1,835        —          (1     (1

6 month BUBOR semi-annually

     8.16 annually        Receive        6/17/2032      HUF 52,000        —          (4     (4

6 month PRIBOR semi-annually

     5.75 annually        Receive        6/17/2032      CZK 1,200        —          (3     (3

6 month WIBOR semi-annually

     7.45 annually        Receive        6/20/2032      PLN 150        —          (2     (2

1 day THOR quarterly

     2.89 quarterly        Receive        6/17/2032      THB 2,750        —          —  ^       —  ^  
              

 

 

    

 

 

   

 

 

 
                 —          (10     (10
              

 

 

    

 

 

   

 

 

 

Total

 

        —          39       39  
     

 

 

    

 

 

   

 

 

 

 

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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 96.2%

 

Belgium - 1.6%

 

Groupe Bruxelles Lambert SA

     380      $ 31,725  
     

 

 

 

Brazil - 1.5%

 

Telefonica Brasil SA, ADR

     3,388        30,698  
     

 

 

 

Canada - 1.4%

 

Imperial Oil Ltd.

     591        27,845  
     

 

 

 

China - 3.6%

 

Alibaba Group Holding Ltd., ADR *

     231        26,274  

Alibaba Group Holding Ltd. *

     3,114        44,406  
     

 

 

 
        70,680  
     

 

 

 

France - 6.0%

 

Danone SA

     1,715        95,724  

Sodexo SA

     331        23,266  
     

 

 

 
        118,990  
     

 

 

 

Germany - 4.0%

 

Daimler Truck Holding AG *

     798        20,835  

HeidelbergCement AG

     1,225        58,862  
     

 

 

 
        79,697  
     

 

 

 

Japan - 2.9%

 

Nintendo Co. Ltd.

     132        57,045  
     

 

 

 

Netherlands - 6.1%

 

ING Groep NV

     2,648        26,171  

Koninklijke Philips NV

     2,598        55,972  

Shell plc

     1,467        38,108  
     

 

 

 
        120,251  
     

 

 

 

South Korea - 4.2%

 

Samsung Electronics Co. Ltd.

     1,893        83,104  
     

 

 

 

Switzerland - 12.4%

 

Cie Financiere Richemont SA

     490        52,133  

Novartis AG

     1,295        109,677  

Swatch Group AG (The)

     13        3,147  

UBS Group AG

     5,059        81,554  
     

 

 

 
        246,511  
     

 

 

 

United Kingdom - 9.0%

 

BAE Systems plc

     6,323        63,901  

Compass Group plc

     4,023        82,273  

Lloyds Banking Group plc

     63,915        32,919  
     

 

 

 
        179,093  
     

 

 

 

United States - 43.5%

 

Advance Auto Parts, Inc.

     132        22,811  

Alphabet, Inc., Class A *

     34        74,228  

American Express Co.

     419        58,016  

Bank of New York Mellon Corp. (The)

     1,942        80,992  

Berkshire Hathaway, Inc., Class B *

     264        72,197  

Citigroup, Inc.

     1,416        65,141  

DENTSPLY SIRONA, Inc.

     978        34,935  

Elevance Health, Inc.

     225        108,786  

Expedia Group, Inc. *

     392        37,219  

Lam Research Corp.

     75        32,080  

Marsh & McLennan Cos., Inc.

     346        53,661  

Meta Platforms, Inc., Class A *

     400        64,433  

Progressive Corp. (The)

     520        60,488  

Sensata Technologies Holding plc

     477        19,689  

Southwest Airlines Co. *

     1,028        37,120  

Willis Towers Watson plc

     220        43,452  
     

 

 

 
        865,248  
     

 

 

 

Total common stocks (Cost $1,688,293)

        1,910,887  
  

 

 

 

SHORT-TERM INVESTMENT - 2.6%

     

INVESTMENT COMPANY - 2.6%

     

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $52,503)

     52,503        52,503  

Total investments - 98.8% (Cost $1,740,796)

 

     1,963,390  

Other assets less liabilities - 1.2%

        24,618  
  

 

 

 

Total net assets - 100.0% #

      $ 1,988,008  
  

 

 

 

Artisan Global Value Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 226,404        11.5

Consumer Discretionary

     291,529        14.8  

Consumer Staples

     95,724        4.9  

Energy

     65,953        3.4  

Financials

     606,316        30.9  

Health Care

     309,370        15.8  

Industrials

     141,545        7.2  

Information Technology

     115,184        5.8  

Materials

     58,862        3.0  

Short-Term Investment

     52,503        2.7  
  

 

 

    

 

 

 

Total investments

   $ 1,963,390        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CAD

   $ 27,845        1.4

CHF

     246,511        12.6  

EUR

     312,555        15.9  

GBP

     217,201        11.1  

HKD

     44,406        2.3  

JPY

     57,045        2.9  

KRW

     83,104        4.2  

USD

     974,723        49.6  
  

 

 

    

 

 

 

Total investments

   $ 1,963,390        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, 2022 (Unaudited)

Principal amount, shares and values in thousands and reported in USD unless otherwise stated

 

     Principal
Amount
     Value  

CORPORATE BONDS - 74.5%

 

Advertising - 0.2%

 

CMG Media Corp. 8.88%, 12/15/2027 (1)

   $ 15,947      $ 12,598  
     

 

 

 

Aerospace/Defense - 0.8%

 

Bombardier, Inc.

 

  

6.00%, 2/15/2028 (1)(2)

     51,291        38,437  

7.13%, 6/15/2026 (1)(2)

     8,689        7,164  

TransDigm, Inc. 4.63%, 1/15/2029

     470        378  
     

 

 

 
        45,979  
     

 

 

 

Airlines - 1.6%

 

Delta Air Lines, Inc.

 

  

3.75%, 10/28/2029

     47,512        37,652  

4.38%, 4/19/2028

     9,849        8,366  

7.38%, 1/15/2026

     47,394        47,321  
     

 

 

 
        93,339  
     

 

 

 

Building Materials - 0.6%

 

Eco Material Technologies, Inc. 7.88%, 1/31/2027 (1)

     21,037        18,698  

New Enterprise Stone & Lime Co., Inc.

 

  

5.25%, 7/15/2028 (1)

     4,361        3,585  

9.75%, 7/15/2028 (1)

     14,000        11,970  
     

 

 

 
        34,253  
     

 

 

 

Chemicals - 2.9%

 

Consolidated Energy Finance SA 5.63%, 10/15/2028 (1)(2)

     17,085        13,744  

Diamond BC BV 4.63%, 10/1/2029 (1)

     31,093        24,865  

EverArc Escrow SARL 5.00%, 10/30/2029 (1)

     31,571        26,574  

LSF11 A5 HoldCo LLC 6.63%, 10/15/2029 (1)

     8,542        7,197  

Methanex Corp.

 

  

5.13%, 10/15/2027 (2)

     28,114        24,811  

5.25%, 12/15/2029 (2)

     81,326        68,754  

5.65%, 12/1/2044 (2)

     4,854        3,411  
     

 

 

 
        169,356  
     

 

 

 

Commercial Services - 0.2%

 

PECF USS Intermediate Holding III Corp. 8.00%, 11/15/2029 (1)

     16,154        12,802  
     

 

 

 

Distribution/Wholesale - 0.1%

 

American Builders & Contractors Supply Co., Inc. 3.88%, 11/15/2029 (1)

     3,705        2,962  
     

 

 

 

Diversified Financial Services - 6.1%

 

AG Issuer LLC 6.25%, 3/1/2028 (1)

     44,996        39,268  

NFP Corp.

 

  

4.88%, 8/15/2028 (1)

     26,065        22,324  

6.88%, 8/15/2028 (1)

     210,016        173,272  

VistaJet Malta Finance plc

 

  

6.38%, 2/1/2030 (1)(2)

     105,915        84,732  

7.88%, 5/1/2027 (1)(2)

     34,988        30,877  
     

 

 

 
        350,473  
     

 

 

 

Energy-Alternate Sources - 0.4%

 

Sunnova Energy Corp. 5.88%, 9/1/2026 (1)

     28,481        24,779  
     

 

 

 

Engineering & Construction - 0.6%

 

Signature Aviation US Holdings, Inc. 4.00%, 3/1/2028 (1)

     32,372        31,595  
     

 

 

 

Entertainment - 1.2%

 

CDI Escrow Issuer, Inc. 5.75%, 4/1/2030 (1)

     12,781        11,631  

Jacobs Entertainment, Inc. 6.75%, 2/15/2029 (1)

     24,293        20,543  

Magallanes, Inc.

 

  

4.28%, 3/15/2032 (1)

     420        375  

5.14%, 3/15/2052 (1)

     1,678        1,409  

Penn National Gaming, Inc. 4.13%, 7/1/2029 (1)

     28,417        21,563  

SeaWorld Parks & Entertainment, Inc. 5.25%, 8/15/2029 (1)

     16,424        13,898  
     

 

 

 
        69,419  
     

 

 

 

Food - 1.0%

 

H-Food Holdings LLC 8.50%, 6/1/2026 (1)

     79,212        55,448  
     

 

 

 

Food Service - 1.2%

 

TKC Holdings, Inc.

 

  

6.88%, 5/15/2028 (1)

     16,184        13,862  

10.50%, 5/15/2029 (1)

     65,171        53,321  
     

 

 

 
        67,183  
     

 

 

 

Forest Products & Paper - 0.3%

 

Ahlstrom-Munksjo Holding 3 Oy 4.88%, 2/4/2028 (1)(2)

     17,834        14,887  
     

 

 

 

Hand/Machine Tools - 0.7%

 

Werner FinCo LP 8.75%, 7/15/2025 (1)

     46,856        40,714  
     

 

 

 

Healthcare-Products - 2.4%

 

Medline Borrower LP

 

  

3.88%, 4/1/2029 (1)

     147,243        125,408  

5.25%, 10/1/2029 (1)

     12,842        10,547  
     

 

 

 
        135,955  
     

 

 

 

Healthcare-Services - 0.5%

 

HCA, Inc. 3.50%, 9/1/2030

     12,810        10,898  

Surgery Center Holdings, Inc. 6.75%, 7/1/2025 (1)

     8,955        8,208  

Tenet Healthcare Corp. 6.13%, 6/15/2030 (1)

     10,487        9,675  
     

 

 

 
        28,781  
     

 

 

 

Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Principal amount, shares and values in thousands and reported in USD unless otherwise stated

 

Home Furnishings - 0.2%

     

Tempur Sealy International, Inc. 3.88%, 10/15/2031 (1)

     17,543        13,157  
     

 

 

 

Insurance - 9.0%

     

Acrisure LLC

     

4.25%, 2/15/2029 (1)

     20,140        16,282  

6.00%, 8/1/2029 (1)

     83,555        65,406  

7.00%, 11/15/2025 (1)

     92,952        83,604  

10.13%, 8/1/2026 (1)

     48,540        47,142  

Alliant Holdings Intermediate LLC

     

4.25%, 10/15/2027 (1)

     2,569        2,223  

5.88%, 11/1/2029 (1)

     15,595        12,941  

6.75%, 10/15/2027 (1)

     10,008        8,881  

Ardonagh Midco 2 plc 11.50% Cash, 12.75% PIK, 1/15/2027 (1)(2)(3)

     126,265        124,058  

AssuredPartners, Inc. 7.00%, 8/15/2025 (1)

     33,750        31,700  

BroadStreet Partners, Inc. 5.88%, 4/15/2029 (1)

     61,720        48,290  

GTCR AP Finance, Inc. 8.00%, 5/15/2027 (1)

     62,677        58,675  

Highlands Holdings Bond Issuer Ltd. 7.63% Cash, 8.38% PIK, 10/15/2025 (1)(2)(3)

     12,812        12,370  

Ryan Specialty Group LLC 4.38%, 2/1/2030 (1)

     6,905        6,007  
     

 

 

 
        517,579  
     

 

 

 

Internet - 0.4%

     

Arches Buyer, Inc. 4.25%, 6/1/2028 (1)

     1,679        1,367  

Cars.com, Inc. 6.38%, 11/1/2028 (1)

     17,239        14,523  

Millennium Escrow Corp. 6.63%, 8/1/2026 (1)

     9,223        7,444  
     

 

 

 
        23,334  
     

 

 

 

Iron/Steel - 0.9%

     

Big River Steel LLC 6.63%, 1/31/2029 (1)

     36,266        33,653  

Commercial Metals Co.

     

3.88%, 2/15/2031

     3,461        2,768  

4.13%, 1/15/2030

     11,253        9,475  

4.38%, 3/15/2032

     9,352        7,660  
     

 

 

 
        53,556  
     

 

 

 

Leisure Time - 7.0%

     

Carnival Corp.

     

4.00%, 8/1/2028 (1)

     13,445        11,025  

5.75%, 3/1/2027 (1)

     110,287        79,658  

6.00%, 5/1/2029 (1)

     83,290        58,520  

7.63%, 3/1/2026 (1)

     7,882        6,105  

10.50%, 6/1/2030 (1)

     18,945        15,592  

Lindblad Expeditions LLC 6.75%, 2/15/2027 (1)

     25,838        22,156  

MajorDrive Holdings IV LLC 6.38%, 6/1/2029 (1)

     13,223        9,058  

NCL Corp. Ltd.

     

3.63%, 12/15/2024 (1)

     17,414        14,484  

5.88%, 3/15/2026 (1)

     47,354        37,168  

5.88%, 2/15/2027 (1)

     6,824        5,835  

7.75%, 2/15/2029 (1)

     33,284        25,462  

NCL Finance Ltd. 6.13%, 3/15/2028 (1)

     73,123        53,197  

Royal Caribbean Cruises Ltd.

     

4.25%, 7/1/2026 (1)

     19,431        13,803  

5.38%, 7/15/2027 (1)

     8,553        6,217  

5.50%, 8/31/2026 (1)

     26,365        19,576  

5.50%, 4/1/2028 (1)

     35,497        24,670  
     

 

 

 
        402,526  
     

 

 

 

Lodging - 0.9%

     

Boyd Gaming Corp. 4.75%, 6/15/2031 (1)

     9,302        7,860  

MGM Resorts International

     

4.63%, 9/1/2026

     4,248        3,771  

4.75%, 10/15/2028

     35,704        30,025  

5.50%, 4/15/2027

     2,223        1,995  

Station Casinos LLC 4.63%, 12/1/2031 (1)

     16,806        13,109  
     

 

 

 
        56,760  
     

 

 

 

Media - 10.5%

     

CCO Holdings LLC

     

4.25%, 2/1/2031 (1)

     42,817        34,896  

4.25%, 1/15/2034 (1)

     4,409        3,406  

4.50%, 8/15/2030 (1)

     68,770        57,098  

4.50%, 5/1/2032

     87,786        71,081  

4.75%, 3/1/2030 (1)

     31,605        27,030  

CSC Holdings LLC

     

4.50%, 11/15/2031 (1)

     8,967        6,915  

4.63%, 12/1/2030 (1)

     78,174        52,278  

5.25%, 6/1/2024

     15,676        14,657  

5.38%, 2/1/2028 (1)

     6,632        5,736  

6.50%, 2/1/2029 (1)

     12,161        10,983  

7.50%, 4/1/2028 (1)

     57,856        48,310  

Sinclair Television Group, Inc.

     

5.13%, 2/15/2027 (1)

     47,938        40,418  

5.50%, 3/1/2030 (1)

     83,118        61,201  

Virgin Media Finance plc 5.00%, 7/15/2030 (1)(2)

     75,156        59,561  

Virgin Media Secured Finance plc

     

4.50%, 8/15/2030 (1)(2)

     22,046        18,115  

5.50%, 5/15/2029 (1)(2)

     27,393        24,491  

Virgin Media Vendor Financing Notes IV DAC 5.00%, 7/15/2028 (1)(2)

     17,967        14,867  

Ziggo Bond Co. BV

     

5.13%, 2/28/2030 (1)(2)

     7,967        6,249  

6.00%, 1/15/2027 (1)(2)

     27,070        23,957  

Ziggo BV 4.88%, 1/15/2030 (1)(2)

     24,246        20,559  
     

 

 

 
        601,808  
     

 

 

 

Metal Fabricate/Hardware - 0.1%

     

Advanced Drainage Systems, Inc. 6.38%, 6/15/2030 (1)

     5,034        4,916  
     

 

 

 

Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Principal amount, shares and values in thousands and reported in USD unless otherwise stated

 

Mining - 1.0%

     

Compass Minerals International, Inc.

     

4.88%, 7/15/2024 (1)

     10,392        9,642  

6.75%, 12/1/2027 (1)

     52,402        47,424  
     

 

 

 
        57,066  
     

 

 

 

Miscellaneous Manufacturing - 1.3%

     

General Electric Co. Series D, (ICE LIBOR USD 3 Month + 3.33%), 5.16%, 9/15/2022 (5)(6)

     86,258        75,579  
     

 

 

 

Oil & Gas - 6.6%

     

Callon Petroleum Co.

     

6.13%, 10/1/2024

     24,139        24,511  

8.00%, 8/1/2028 (1)

     118,846        114,163  

8.25%, 7/15/2025

     3,046        2,969  

CrownRock LP 5.00%, 5/1/2029 (1)

     25,257        22,651  

Endeavor Energy Resources LP 5.75%, 1/30/2028 (1)

     25,826        24,603  

Laredo Petroleum, Inc.

     

7.75%, 7/31/2029 (1)

     89,440        80,691  

10.13%, 1/15/2028

     8,612        8,526  

MEG Energy Corp. 5.88%, 2/1/2029 (1)(2)

     33,922        30,983  

Range Resources Corp. 5.00%, 3/15/2023

     5,000        4,963  

SM Energy Co.

     

5.63%, 6/1/2025

     8,964        8,471  

6.50%, 7/15/2028

     19,447        17,885  

6.63%, 1/15/2027

     4,218        3,944  

Strathcona Resources Ltd. 6.88%, 8/1/2026 (1)(2)

     33,591        30,568  
     

 

 

 
        374,928  
     

 

 

 

Packaging & Containers - 1.0%

     

Clydesdale Acquisition Holdings, Inc.

     

6.63%, 4/15/2029 (1)

     6,725        6,319  

8.75%, 4/15/2030 (1)

     20,692        17,848  

Iris Escrow Issuer Corp. 10.00%, 12/15/2028 (1)(2)

     37,718        29,420  

Sealed Air Corp. 5.00%, 4/15/2029 (1)

     5,968        5,580  
     

 

 

 
        59,167  
     

 

 

 

Pharmaceuticals - 1.5%

     

BellRing Brands, Inc. 7.00%, 3/15/2030 (1)

     64,993        61,256  

Prestige Brands, Inc. 3.75%, 4/1/2031 (1)

     24,963        20,699  
     

 

 

 
        81,955  
     

 

 

 

Real Estate - 0.4%

     

Realogy Group LLC 5.75%, 1/15/2029 (1)

     29,421        22,311  
     

 

 

 

Real Estate Investment Trusts (REITS) - 2.1%

     

American Finance Trust, Inc. 4.50%, 9/30/2028 (1)

     30,346        23,822  

Global Net Lease, Inc. 3.75%, 12/15/2027 (1)

     47,508        39,702  

Iron Mountain, Inc.

     

5.00%, 7/15/2028 (1)

     1,919        1,700  

5.25%, 7/15/2030 (1)

     14,936        12,985  

Uniti Group LP 4.75%, 4/15/2028 (1)

     17,806        14,644  

XHR LP 4.88%, 6/1/2029 (1)

     29,209        25,057  
     

 

 

 
        117,910  
     

 

 

 

Retail - 5.0%

     

Asbury Automotive Group, Inc. 4.63%, 11/15/2029 (1)

     17,053        14,090  

Bath & Body Works, Inc.

     

6.63%, 10/1/2030 (1)

     8,389        7,246  

6.75%, 7/1/2036

     4,360        3,488  

6.88%, 11/1/2035

     15,450        12,553  

Brinker International, Inc.

     

3.88%, 5/15/2023

     1,000        985  

5.00%, 10/1/2024 (1)

     25,349        23,741  

Gap, Inc. (The)

     

3.63%, 10/1/2029 (1)

     20,462        14,368  

3.88%, 10/1/2031 (1)

     23,637        16,487  

Group 1 Automotive, Inc. 4.00%, 8/15/2028 (1)

     7,540        6,302  

LCM Investments Holdings II LLC 4.88%, 5/1/2029 (1)

     26,332        20,041  

Nordstrom, Inc.

     

4.00%, 3/15/2027

     16,561        14,574  

4.25%, 8/1/2031

     7,410        5,616  

4.38%, 4/1/2030

     48,672        37,842  

5.00%, 1/15/2044

     98,226        69,986  

Patrick Industries, Inc. 4.75%, 5/1/2029 (1)

     6,869        5,112  

SRS Distribution, Inc.

     

6.00%, 12/1/2029 (1)

     48,122        37,787  

6.13%, 7/1/2029 (1)

     2,803        2,211  

Superior Plus LP

     

4.25%, 5/18/2028 (1)(2)

   CAD  6,705        4,591  

4.50%, 3/15/2029 (1)(2)

     1,684        1,431  
     

 

 

 
        298,451  
     

 

 

 

Software - 0.6%

     

Castle US Holding Corp. 9.50%, 2/15/2028 (1)

     25,953        22,162  

Central Parent, Inc. 7.25%, 6/15/2029 (1)

     12,579        12,107  
     

 

 

 
        34,269  
     

 

 

 

Telecommunications - 5.2%

     

Altice France Holding SA

     

6.00%, 2/15/2028 (1)(2)

     80,957        57,463  

10.50%, 5/15/2027 (1)(2)

     25,971        21,793  

Altice France SA

     

5.13%, 1/15/2029 (1)(2)

     8,119        6,151  

5.13%, 7/15/2029 (1)(2)

     8,550        6,455  

5.50%, 1/15/2028 (1)(2)

     7,974        6,426  

5.50%, 10/15/2029 (1)(2)

     98,372        75,148  

Level 3 Financing, Inc. 3.75%, 7/15/2029 (1)

     1,710        1,322  

Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Principal amount, shares and values in thousands and reported in USD unless otherwise stated

 

Maxar Technologies, Inc. 7.75%, 6/15/2027 (1)

   $ 37,548        37,192  

Sprint Capital Corp. 8.75%, 3/15/2032

     8,536        10,273  

Vmed O2 UK Financing I plc 4.25%, 1/31/2031 (1)(2)

     42,712        34,330  

Zayo Group Holdings, Inc. 4.00%, 3/1/2027 (1)

     25,706        21,326  

6.13%, 3/1/2028 (1)

     35,262        25,463  
     

 

 

 
        303,342  
     

 

 

 

Total corporate bonds (Cost $4,991,708)

        4,289,137  
     

 

 

 

BANK LOANS - 17.7%

     

Aerospace/Defense - 0.2%

     

Jazz Acquisition, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 4.25%), 5.92%, 6/19/2026 (6)

     13,323        12,527  
     

 

 

 

Apparel - 0.2%

     

Birkenstock US BidCo, Inc. First Lien Term Loan B (ICE LIBOR USD 6 Month + 3.25%),
5.10%, 4/28/2028 (2)(6)

     15,883        14,500  
     

 

 

 

Auto Parts & Equipment - 0.9%

     

Wheel Pros, Inc. First Lien Term Loan (ICE LIBOR USD 1 Month + 4.50%), 6.10%, 5/11/2028 (6)

     63,846        52,673  
     

 

 

 

Building Materials - 0.4%

     

ACProducts Holdings, Inc. First Lien Term Loan B

     

(ICE LIBOR USD 3 Month + 4.25%), 5.92%, 5/17/2028 (6)

     19,910        15,330  

(ICE LIBOR USD 3 Month + 4.25%), 6.50%, 5/17/28 (6)

     6,636        5,110  
     

 

 

 
        20,440  
     

 

 

 

Chemicals - 0.6%

     

CPC Acquisition Corp. First Lien Term Loan B (ICE LIBOR USD 3 Month + 3.75%), 6.00%, 12/29/2027 (6)

     38,199        33,265  
     

 

 

 

Commercial Services - 2.7%

     

Ankura Consulting Group LLC Second Lien Term Loan (ICE LIBOR USD 3 Month + 8.00%),
9.18%, 3/19/2029 (6)

     17,830        15,869  

Digital Room Holdings, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 5.25%),
6.92%, 12/21/2028 (6)

     29,127        25,413  

Employbridge Holding Co. First Lien Term Loan B (ICE LIBOR USD 3 Month + 4.75%),
7.00%, 7/19/2028 (6)

     52,483        47,628  

Midas Intermediate Holdco II LLC First Lien Term Loan B (ICE LIBOR USD 3 Month + 7.75%),
12.50%, 12/22/2025 (6)

     66,735        60,940  

National Intergovernmental Purchasing Alliance Co. Second Lien Term Loan (ICE LIBOR USD 3 Month + 7.50%), 8.51%, 5/22/2026 (6)

     7,320        7,064  
     

 

 

 
        156,914  
     

 

 

 

Entertainment - 0.6%

     

J&J Ventures Gaming LLC First Lien Term Loan (ICE LIBOR USD 3 Month + 4.00%), 6.25%, 4/26/2028 (6)

     16,922        16,097  

Lucky Bucks LLC First Lien Term Loan B (ICE LIBOR USD 3 Month + 5.50%), 6.25%, 7/30/2027 (6)

     19,766        17,987  
     

 

 

 
        34,084  
     

 

 

 

Food Service - 1.4%

     

TKC Holdings, Inc. First Lien Term Loan (ICE LIBOR USD 3 Month + 5.50%), 7.00%, 5/15/2028 (6)

     69,072        64,971  

TKC Midco 1 LLC First Lien Term Loan 12.00%, 2/15/2027

     18,035        16,322  
     

 

 

 
        81,293  
     

 

 

 

Healthcare-Services - 0.5%

     

Surgery Center Holdings, Inc. First Lien Term Loan (ICE LIBOR USD 1 Month + 3.75%),
4.95%, 8/31/2026 (6)

     33,445        31,094  
     

 

 

 

Household Products/Wares - 0.0%^

     

VC GB Holdings I Corp. First Lien Term Loan (ICE LIBOR USD 3 Month + 3.50%), 6.38%, 7/21/2028 (6)

     2,974        2,589  
     

 

 

 

Internet - 0.6%

     

Arches Buyer, Inc. First Lien Term Loan (ICE LIBOR USD 1 Month + 3.25%), 4.92%, 12/6/2027 (6)

     12,725        11,580  

Barracuda Networks, Inc. Second Lien Term Loan B (ICE LIBOR USD 3 Month + 6.75%), 7.99%, 10/30/2028 (6)

     25,477        25,413  
     

 

 

 
        36,993  
     

 

 

 

Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Principal amount, shares and values in thousands and reported in USD unless otherwise stated

 

Investment Companies - 1.0%

     

Nexus Buyer LLC Second Lien Term Loan (ICE LIBOR USD 1 Month + 6.25%), 7.44%, 11/5/2029  (6)

     59,570        55,599  
     

 

 

 

Leisure Time - 0.2%

     

NCL Corp., Ltd. First Lien Term Loan A (ICE LIBOR USD 3 Month + 1.75%), 4.00%, 1/2/2024 (6)

     12,829        12,219  
     

 

 

 

Lodging - 0.1%

     

Jack Ohio Finance LLC First Lien Term Loan (ICE LIBOR USD 1 Month + 4.75%), 6.42%, 10/4/2028 (6)

     5,799        5,451  
     

 

 

 

Retail - 0.8%

     

Fogo De Chao, Inc. First Lien Term Loan (ICE LIBOR USD 1 Month + 4.25%), 5.92%, 4/7/2025 (6)

     13,005        12,306  

Portillo’s Holdings LLC First Lien Term Loan (ICE LIBOR USD 1 Month + 5.50%), 7.17%, 9/6/2024 (6)

     34,622        33,958  
     

 

 

 
        46,264  
     

 

 

 

Software - 6.0%

     

Applied Systems, Inc. Second Lien Term Loan (ICE LIBOR USD 3 Month + 5.50%), 6.51%, 9/19/2025 (6)

     28,103        26,988  

Castle US Holding Corp. First Lien Term Loan B (ICE LIBOR USD 1 Month + 3.75%), 5.42%, 1/29/2027 (6)

     4,906        4,288  

CommerceHub, Inc. Second Lien Term Loan B (ICE LIBOR USD 3 Month + 7.00%), 9.25%, 12/29/2028 (6)

     10,610        9,019  

Constant Contact, Inc. Second Lien Term Loan (ICE LIBOR USD 3 Month + 7.50%), 8.51%, 2/12/2029 (6)

     28,018        26,897  

Ivanti Software, Inc. First Lien Term Loan B (ICE LIBOR USD 3 Month + 4.00%), 5.61%, 12/1/2027 (6)

     13,073        11,104  

Ivanti Software, Inc. Second Lien Term Loan (ICE LIBOR USD 3 Month + 7.25%), 8.85%, 12/1/2028 (6)

     6,435        5,856  

Loyalty Ventures, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 4.50%), 6.17%, 11/3/2027 (6)

     14,076        10,937  

Matrix Parent, Inc. First Lien Term Loan (SOFR + 5.00%), 6.55%, 3/1/2029 (6)

     21,160        20,137  

Orchid Finco LLC First Lien Term Loan B (SOFR + 4.75%), 7.58%, 7/27/2027 (6)

     25,221        24,464  

Renaissance Holdings Corp. First Lien Term Loan (ICE LIBOR USD 1 Month + 3.25%), 4.92%, 5/30/2025 (6)

     61,929        58,497  

Renaissance Holdings Corp. Second Lien Term Loan (ICE LIBOR USD 1 Month + 7.00%), 8.67%, 5/29/2026 (6)

     36,536        33,796  

UKG, Inc. Second Lien Term Loan (ICE LIBOR USD 3 Month + 5.25%), 6.21%, 5/3/2027 (6)

     83,082        76,435  

Virgin Pulse, Inc. First Lien Term Loan B (ICE LIBOR USD 1 Month + 4.00%), 5.67%, 4/6/2028 (6)

     34,973        29,683  
     

 

 

 
        338,101  
     

 

 

 

Telecommunications - 0.9%

     

Delta Topco, Inc. Second Lien Term Loan (ICE LIBOR USD 3 Month + 7.25%), 9.34%, 12/1/2028 (6)

     35,575        30,239  

Gridiron Fiber Corp. First Lien Term Loan B (ICE LIBOR USD 3 Month + 4.50%), 6.75%, 10/4/2028 (6)

     23,785        22,358  
     

 

 

 
        52,597  
     

 

 

 

Transportation - 0.6%

     

SIRVA Worldwide, Inc. First Lien Term Loan

     

(ICE LIBOR USD 3 Month + 5.50%), 6.51%, 8/4/2025 (6)

     94        83  

(ICE LIBOR USD 3 Month + 5.50%), 6.56%, 8/4/2025 (6)

     26,551        23,631  

(ICE LIBOR USD 3 Month + 5.50%), 6.74%, 8/4/2025 (6)

     5,986        5,328  

(ICE LIBOR USD 3 Month + 5.50%), 7.07%, 8/4/2025 (6)

     5,694        5,067  
     

 

 

 
        34,109  
     

 

 

 

Total bank loans (Cost $1,105,908)

        1,020,712  
     

 

 

 

Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Principal amount, shares and values in thousands and reported in USD unless otherwise stated

 

     Shares Held      Value  

COMMON STOCK - 0.4%

 

Miscellaneous Manufacturing - 0.4%

     

Utex Equity *(4)(7)

     364      $ 24,386  
     

 

 

 

Total common stocks (Cost $10,178)

 

     24,386  
  

 

 

 

SHORT-TERM INVESTMENT - 5.4%

 

INVESTMENT COMPANY - 5.4%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $308,384)

     308,384        308,384  
     

 

 

 

Total investments - 98.0% (Cost $6,416,178)

 

     5,642,619  

Other assets less liabilities - 2.0%

 

     113,093  
  

 

 

 

Total net assets - 100.0% #

 

   $ 5,755,712  
  

 

 

 

 

(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.

Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

(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-Munksjo Holding 3 Oy, 4.88%, 2/4/2028

   Finland    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, 5.50%, 10/15/2029

   France    USD

Altice France SA, 5.13%, 7/15/2029

   France    USD

Altice France SA, 5.13%, 1/15/2029

   France    USD

Altice France SA, 5.50%, 1/15/2028

   France    USD

Ardonagh Midco 2 plc, 11.50%, 1/15/2027

   United Kingdom    USD

Birkenstock US BidCo, Inc. First Lien Term Loan B, 5.10%, 4/28/2028

   Germany    USD

Bombardier, Inc., 6.00%, 2/15/2028

   Canada    USD

Bombardier, Inc., 7.13%, 6/15/2026

   Canada    USD

Consolidated Energy Finance SA, 5.63%, 10/15/2028

   Switzerland    USD

Highlands Holdings Bond Issuer Ltd., 7.63%, 10/15/2025

   Bermuda    USD

Iris Escrow Issuer Corp., 10.00%, 12/15/2028

   Canada    USD

MEG Energy Corp., 5.88%, 2/1/2029

   Canada    USD

Methanex Corp., 5.65%, 12/1/2044

   Canada    USD

Methanex Corp., 5.25%, 12/15/2029

   Canada    USD

Methanex Corp., 5.13%, 10/15/2027

   Canada    USD

Strathcona Resources Ltd., 6.88%, 8/1/2026

   Canada    USD

Superior Plus LP, 4.50%, 3/15/2029

   Canada    USD

Superior Plus LP, 4.25%, 5/18/2028

   Canada    CAD

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

Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

(3) 

Payment in-kind security.

(4) 

Defaulted securities.

(5) 

Perpetual security. The rate reflected was the rate in effect on June 30, 2022. The maturity date reflects the next call date.

(6) 

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022.

(7) 

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 $24,386, or 0.4% of total net assets. See notes (A) and (B) in the accompanying notes.

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CAD

   $ 4,591        0.1

USD

     5,638,028        99.9  
  

 

 

    

 

 

 

Total investments

   $ 5,642,619        100.0
  

 

 

    

 

 

 

FOREIGN CURRENCY FORWARD CONTRACTS

Values in thousands

 

Currency Purchased

   Currency Sold     

Counterparty

   Settlement
Date
   Unrealized
Appreciation
(Depreciation)
 

USD

   4,744      CAD        6,000      CITI    8/2/2022    $ 83  

USD

   5,175      CAD        6,590      JPM    9/23/2022      55  
                 

 

 

 

Total unrealized appreciation

     138  
     

 

 

 

CAD

   6,590      USD        5,215      JPM    9/23/2022      (95
                 

 

 

 

Total unrealized depreciation

     (95
     

 

 

 

Net unrealized appreciation

   $ 43  
     

 

 

 

FUTURES CONTRACTS

Dollar values in thousands

 

Description

   Number of
Contracts
    Expiration
Date
     Trading
Currency
     Notional
Amount
    Notional
Value
    Unrealized
Appreciation
 

Short Positions Contracts

 

 

U.S. Treasury 10 Year Note

     (55     9/21/2022        USD      $ (5,500   $ (6,519   $ 37  

U.S. Treasury Long Bond

     (386     9/21/2022        USD        (38,600     (53,509     282  
              

 

 

 

Net unrealized appreciation

               $ 319  
              

 

 

 

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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS AND EQUITY-LINKED SECURITY - 96.6%

 

Belgium - 2.0%

 

UCB SA

     1,443      $ 121,901  
     

 

 

 

Brazil - 1.1%

 

Vale SA

     4,393        64,310  
     

 

 

 

Canada - 6.5%

 

Canadian National Railway Co.

     876        98,579  

Canadian Pacific Railway Ltd.

     3,319        231,818  

Kinaxis, Inc. *

     555        59,880  
     

 

 

 
        390,277  
     

 

 

 

Denmark - 1.5%

 

Ascendis Pharma A/S, ADR *

     964        89,603  
     

 

 

 

France - 13.6%

 

Air Liquide SA

     1,445        193,982  

Airbus SE

     779        75,516  

BNP Paribas SA

     5,193        246,875  

Capgemini SE

     1,175        201,237  

LVMH Moet Hennessy Louis Vuitton SE

     120        73,328  

Safran SA

     280        27,660  
     

 

 

 
        818,598  
     

 

 

 

Germany - 17.0%

 

Allianz SE

     867        165,546  

Brenntag SE

     1,664        108,310  

Deutsche Boerse AG

     1,557        260,375  

Deutsche Post AG

     3,807        142,579  

Deutsche Telekom AG

     11,425        226,844  

Porsche Automobil Holding SE (Preference)

     210        13,912  

Volkswagen AG (Preference)

     788        105,267  
     

 

 

 
        1,022,833  
     

 

 

 

India - 1.8%

 

Reliance Industries Ltd. *

     3,350        110,103  
     

 

 

 

Ireland - 2.2%

 

Ryanair Holdings plc, Equity-Linked Security *(1)(2)(3)

     11,324        133,806  
     

 

 

 

Israel - 0.2%

 

Nice Ltd., ADR *

     53        10,162  
     

 

 

 

Italy - 1.8%

 

Intesa Sanpaolo SpA

     56,247        104,921  
     

 

 

 

Japan - 0.8%

 

Toyota Industries Corp.

     809        50,104  
     

 

 

 

Netherlands - 12.6%

 

Argenx SE, ADR *

     590        223,471  

Argenx SE *

     19        7,037  

ING Groep NV

     16,786        165,900  

Koninklijke DSM NV

     598        85,945  

Shell plc

     9,998        259,712  

Shell plc, ADR

     333        17,402  
     

 

 

 
        759,467  
     

 

 

 

Russia - 0.0%

 

MMC Norilsk Nickel PJSC, ADR (1)(4)

     4,881        —    

Sberbank of Russia PJSC *(1)(4)

     38,445        —    
     

 

 

 
        —    
     

 

 

 

Spain - 1.2%

 

Ferrovial SA

     2,793        70,805  
     

 

 

 

Switzerland - 5.7%

 

Alcon, Inc.

     1,551        108,306  

Barry Callebaut AG

     29        65,760  

Cie Financiere Richemont SA

     802        85,359  

Medacta Group SA

     401        38,248  

UBS Group AG

     2,755        44,414  
     

 

 

 
        342,087  
     

 

 

 

Taiwan - 0.7%

 

Taiwan Semiconductor Manufacturing Co. Ltd.

     2,561        40,999  
     

 

 

 

United Kingdom - 12.2%

 

Barclays plc

     109,920        204,883  

Diageo plc

     1,412        60,698  

International Consolidated Airlines Group SA *

     31,523        41,297  

Linde plc

     955        274,094  

Tesco plc

     33,943        105,570  

Unilever plc

     992        44,939  
     

 

 

 
        731,481  
     

 

 

 

United States - 15.7%

 

Alphabet, Inc., Class A *

     67        145,418  

Alphabet, Inc., Class C *

     35        75,716  

Amazon.com, Inc. *

     1,539        163,431  

Aon plc, Class A

     641        172,840  

Nestle SA

     1,093        127,594  

Roche Holding AG

     168        56,224  

Schlumberger NV

     5,600        200,269  
     

 

 

 
        941,492  
     

 

 

 

Total common stocks and equity-linked security (Cost $5,861,835)

 

     5,802,949  
  

 

 

 

SHORT-TERM INVESTMENT - 2.0%

 

INVESTMENT COMPANY - 2.0%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $118,515)

     118,515        118,515  
     

 

 

 

Artisan International Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

Shares and dollar values in thousands

 

Total investments - 98.6% (Cost $5,980,350)

      $ 5,921,464  

Other assets less liabilities - 1.4%

        83,561  
     

 

 

 

Total net assets - 100.0% #

      $ 6,005,025  
     

 

 

 

Artisan International Fund

Schedule of Investments (continued)

June 30, 2022 (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 $133,806, or 2.2% of total net assets. See notes (A) and (B) 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 – 02/24/2022      $ 210,307      $ 133,806        2.2

 

(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) 

Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 447,978        7.6

Consumer Discretionary

     441,297        7.5  

Consumer Staples

     404,561        6.8  

Energy

     587,486        9.9  

Financials

     1,499,560        25.3  

Health Care

     644,790        10.9  

Industrials

     846,668        14.3  

Information Technology

     312,278        5.3  

Materials

     618,331        10.4  

Short-Term Investment

     118,515        2.0  
  

 

 

    

 

 

 

Total investments

   $ 5,921,464        100.0
  

 

 

    

 

 

 

Artisan International Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

BRL

   $ 64,310        1.1

CAD

     390,277        6.6  

CHF

     525,905        8.9  

EUR

     2,672,034        45.1  

GBP

     717,099        12.1  

INR

     110,103        1.9  

JPY

     50,104        0.8  

TWD

     40,999        0.7  

USD

     1,350,633        22.8  
  

 

 

    

 

 

 

Total investments

   $ 5,921,464        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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 82.5%

 

Argentina - 4.6%

 

Despegar.com Corp. *

     74      $ 602  
     

 

 

 

Australia - 5.1%

 

Electro Optic Systems Holdings Ltd. *

     143        102  

Steadfast Group Ltd.

     166        574  
     

 

 

 
        676  
     

 

 

 

Canada - 7.6%

 

ATS Automation Tooling Systems, Inc. *

     19        516  

Boyd Group Services, Inc.

     1        65  

Knight Therapeutics, Inc. *

     78        323  

Real Matters, Inc. *

     24        94  
     

 

 

 
        998  
     

 

 

 

China - 2.2%

 

China Isotope & Radiation Corp.

     119        288  
     

 

 

 

Denmark - 1.0%

 

ALK-Abello A/S *

     7        128  
     

 

 

 

France - 1.5%

 

Alten SA

     2        201  
     

 

 

 

Germany - 7.1%

 

AlzChem Group AG

     14        295  

Hensoldt AG

     25        643  
     

 

 

 
        938  
     

 

 

 

Indonesia - 3.9%

 

Mitra Adiperkasa Tbk. PT *

     7,827        515  
     

 

 

 

Ireland - 5.1%

 

Glenveagh Properties plc *

     687        673  
     

 

 

 

Italy - 1.3%

 

Enav SpA *

     40        167  
     

 

 

 

Japan - 6.0%

 

Horiba Ltd.

     6        243  

NexTone, Inc. *

     6        153  

Zuken, Inc.

     17        390  
     

 

 

 
        786  
     

 

 

 

Mexico - 2.4%

 

Qualitas Controladora SAB de CV

     69        317  
     

 

 

 

Norway - 2.2%

 

Sikri Holding ASA *

     164        287  
     

 

 

 

South Africa - 5.1%

 

Bid Corp. Ltd.

     8        144  

Cashbuild Ltd.

     21        317  

Famous Brands Ltd. *

     58        209  
     

 

 

 
        670  
     

 

 

 

South Korea - 2.2%

 

Vitzrocell Co. Ltd.

     33        292  
     

 

 

 

United Kingdom - 20.7%

 

Euromoney Institutional Investor plc

     49        807  

IDOX plc

     622        442  

IQE plc *

     408        171  

Johnson Service Group plc *

     248        301  

LSL Property Services plc

     66        270  

Luxfer Holdings plc

     19        291  

M&C Saatchi plc *

     173        337  

Oxford Biomedica plc *

     19        104  
     

 

 

 
        2,723  
     

 

 

 

United States - 4.5%

 

Impro Precision Industries Ltd.

     819        227  

Signify NV

     11        374  
     

 

 

 
        601  
     

 

 

 

Total common stocks (Cost $11,284)

 

     10,862  
  

 

 

 

SHORT-TERM INVESTMENTS - 17.9%

 

  

INVESTMENT COMPANIES - 17.9%

 

  

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34%

     804        804  

Federated Treasury Obligations Fund - Institutional Class, 1.38%

     781        781  

Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 1.31%

     780        780  
     

 

 

 

Total investment companies (Cost $2,365)

 

     2,365  
  

 

 

 

Total investments - 100.4% (Cost $13,649)

 

     13,227  

Other assets less liabilities - (0.4)%

 

     (48
  

 

 

 

Total net assets - 100.0% #

 

   $ 13,179  
  

 

 

 

Artisan International Explorer Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 1,297        9.8

Consumer Discretionary

     2,316        17.5  

Consumer Staples

     144        1.1  

Financials

     891        6.7  

Health Care

     843        6.4  

Industrials

     2,978        22.5  

Information Technology

     1,734        13.1  

Materials

     295        2.2  

Real Estate

     364        2.8  

Short-Term Investment

     2,365        17.9  
  

 

 

    

 

 

 

Total investments

   $ 13,227        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

AUD

   $ 676        5.1

CAD

     998        7.5  

DKK

     128        1.0  

EUR

     2,353        17.8  

GBP

     2,432        18.4  

HKD

     515        3.9  

IDR

     515        3.9  

JPY

     786        5.9  

KRW

     292        2.2  

MXN

     317        2.4  

NOK

     287        2.2  

USD

     3,258        24.6  

ZAR

     670        5.1  
  

 

 

    

 

 

 

Total investments

   $ 13,227        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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 93.4%

 

Australia - 0.1%

 

Telix Pharmaceuticals Ltd. *

     1,566      $ 4,897  
     

 

 

 

Belgium - 0.4%

 

Azelis Group NV

     794        17,378  
     

 

 

 

Brazil - 1.6%

 

Afya Ltd., Class A *

     173        1,725  

Hapvida Participacoes e Investimentos SA *

     15,926        16,615  

Rumo SA

     7,118        21,680  

Vibra Energia SA

     8,968        28,581  
     

 

 

 
        68,601  
     

 

 

 

Canada - 5.8%

 

Altus Group Ltd.

     1,612        55,825  

CAE, Inc. *

     3,394        83,648  

Descartes Systems Group, Inc. (The) *

     592        36,762  

Kinaxis, Inc. *

     360        38,821  

Lightspeed Commerce, Inc. *

     1,224        27,297  
     

 

 

 
        242,353  
     

 

 

 

China - 0.3%

 

I-Mab, ADR *

     794        8,971  

Jacobio Pharmaceuticals Group Co. Ltd. *

     5,766        4,482  
     

 

 

 
        13,453  
     

 

 

 

Costa Rica - 0.2%

 

Establishment Labs Holdings, Inc. *

     184        10,022  
     

 

 

 

Denmark - 5.1%

 

ALK-Abello A/S *

     1,317        22,865  

Ambu A/S, Class B

     3,914        38,008  

Carlsberg A/S, Class B

     190        24,137  

DSV A/S

     207        28,955  

FLSmidth & Co. A/S

     742        18,234  

Genmab A/S *

     164        53,067  

Vestas Wind Systems A/S

     1,312        27,718  
     

 

 

 
        212,984  
     

 

 

 

Finland - 2.0%

 

Metso Outotec OYJ

     9,678        72,517  

Revenio Group OYJ

     217        9,650  
     

 

 

 
        82,167  
     

 

 

 

France - 3.6%

 

Gaztransport Et Technigaz SA

     461        57,702  

Lectra

     1,543        56,595  

Ubisoft Entertainment SA *

     864        37,946  
     

 

 

 
        152,243  
     

 

 

 

Germany - 4.5%

 

AIXTRON SE

     2,581        65,390  

Carl Zeiss Meditec AG

     69        8,288  

Gerresheimer AG

     676        43,902  

Hamburger Hafen und Logistik AG

     1,226        17,343  

MorphoSys AG *

     438        8,612  

Symrise AG

     433        47,098  
     

 

 

 
        190,633  
     

 

 

 

Iceland - 0.4%

 

Ossur HF *

     4,327        18,289  
     

 

 

 

India - 2.0%

 

IndiaMart InterMesh Ltd.

     469        22,608  

WNS Holdings Ltd., ADR *

     825        61,579  
     

 

 

 
        84,187  
     

 

 

 

Israel - 7.5%

 

Compugen Ltd. *

     525        971  

Kornit Digital Ltd. *

     1,972        62,524  

Max Stock Ltd. *

     4,258        8,419  

Nice Ltd., ADR *

     878        168,986  

Radware Ltd. *

     2,004        43,425  

Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.

     205        14,621  

Tel Aviv Stock Exchange Ltd.

     3,931        17,870  
     

 

 

 
        316,816  
     

 

 

 

Italy - 1.4%

 

Davide Campari-Milano NV

     3,138        33,001  

Moncler SpA

     562        24,122  
     

 

 

 
        57,123  
     

 

 

 

Japan - 13.7%

 

Azbil Corp.

     2,480        65,149  

Carenet, Inc.(1)

     3,321        22,272  

CKD Corp.(1)

     4,007        51,030  

Daikokutenbussan Co. Ltd.(1)

     875        25,150  

en-japan, Inc.

     624        8,144  

Fujitec Co. Ltd.

     2,524        55,895  

GMO Financial Gate, Inc.

     147        13,406  

Jeol Ltd.

     616        23,763  

Kobe Bussan Co. Ltd.

     654        16,027  

Money Forward, Inc. *

     977        24,331  

Morinaga Milk Industry Co. Ltd.

     836        29,951  

Raccoon Holdings, Inc.(1)

     1,913        23,526  

Rohm Co. Ltd.

     579        40,351  

SG Holdings Co. Ltd.

     4,305        72,623  

Temairazu, Inc.

     321        12,172  

Toshiba Corp.

     1,994        81,049  

Ubicom Holdings, Inc.(1)

     837        14,450  
     

 

 

 
        579,289  
     

 

 

 

Netherlands - 2.3%

 

IMCD NV

     402        55,111  

Koninklijke DSM NV

     290        41,609  
     

 

 

 
        96,720  
     

 

 

 

Spain - 0.5%

 

Almirall SA

     1,953        21,650  
     

 

 

 

Sweden - 3.3%

 

AAK AB

     1,192        19,440  

Fortnox AB

     11,444        52,579  

Swedish Orphan Biovitrum AB *

     3,108        67,208  
     

 

 

 
        139,227  
     

 

 

 

Artisan International Small-Mid Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Shares and dollar values in thousands

 

Switzerland - 6.6%

 

Alcon, Inc.

     1,247        87,094  

Baloise Holding AG

     309        50,481  

Barry Callebaut AG

     24        53,805  

Belimo Holding AG

     87        30,544  

Burckhardt Compression Holding AG

     61        25,567  

Comet Holding AG

     72        11,306  

Tecan Group AG

     62        17,926  
     

 

 

 
        276,723  
     

 

 

 

Thailand - 1.2%

 

Fabrinet *

     621        50,337  
     

 

 

 

United Kingdom - 14.1%

 

Alphawave IP Group plc *

     9,039        14,788  

ASOS plc *

     958        9,782  

B&M European Value Retail SA

     3,577        15,969  

Balfour Beatty plc

     6,203        19,195  

boohoo Group plc *

     19,433        12,992  

Britvic plc

     3,178        31,372  

ConvaTec Group plc

     35,659        97,407  

Ergomed plc *

     533        6,512  

Howden Joinery Group plc

     6,985        51,235  

JD Sports Fashion plc *

     14,305        20,096  

JET2 plc *

     5,883        64,869  

Moonpig Group plc *

     2,502        6,872  

Orchard Therapeutics plc, ADR *

     2,126        1,242  

Oxford Biomedica plc *

     1,627        8,993  

Rotork plc

     16,340        47,857  

RS Group plc

     7,071        74,803  

Smiths Group plc

     1,245        21,206  

St. James’s Place plc

     2,897        38,886  

Trainline plc *

     8,677        30,419  

YouGov plc

     1,859        19,458  
     

 

 

 
        593,953  
     

 

 

 

United States - 16.8%

 

Agilysys, Inc. *

     859        40,621  

Alkermes plc *

     1,267        37,741  

Avidity Biosciences, Inc. *

     251        3,641  

BioCryst Pharmaceuticals, Inc. *

     1,855        19,621  

CyberArk Software Ltd. *

     570        72,968  

Envista Holdings Corp. *

     1,173        45,221  

Glaukos Corp. *

     1,253        56,923  

Ingersoll Rand, Inc.

     1,130        47,551  

Inspire Medical Systems, Inc. *

     85        15,546  

Lantheus Holdings, Inc. *

     796        52,581  

Legend Biotech Corp., ADR *

     1,090        59,931  

Madrigal Pharmaceuticals, Inc. *

     134        9,588  

MaxCyte, Inc. *

     835        3,947  

Model N, Inc. *(1)

     1,980        50,648  

Myriad Genetics, Inc. *

     1,420        25,805  

Nevro Corp. *

     225        9,876  

Relay Therapeutics, Inc. *

     201        3,361  

Seagen, Inc. *

     78        13,863  

STAAR Surgical Co. *

     359        25,448  

Varex Imaging Corp. *

     1,098        23,478  

Verastem, Inc. *

     1,246        1,446  

ViewRay, Inc. *(1)

     10,892        28,864  

Wolfspeed, Inc. *

     960        60,885  
     

 

 

 
        709,554  
     

 

 

 

Total common stocks (Cost $4,141,514)

 

     3,938,599  
  

 

 

 

SHORT-TERM INVESTMENT - 5.5%

 

  

INVESTMENT COMPANY - 5.5%

 

  

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $234,010)

     234,010        234,010  
     

 

 

 

Total investments - 98.9% (Cost $4,375,524)

 

     4,172,609  

Other assets less liabilities - 1.1%

 

     49,501  
  

 

 

 

Total net assets - 100.0% #

 

   $ 4,222,110  
  

 

 

 

Artisan International Small-Mid Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

 

(1) 

Affiliated company as defined under the Investment Company Act of 1940.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 57,404        1.4

Consumer Discretionary

     194,675        4.7  

Consumer Staples

     247,504        5.9  

Energy

     57,702        1.4  

Financials

     107,237        2.6  

Health Care

     1,039,587        24.9  

Industrials

     1,079,284        25.9  

Information Technology

     1,010,674        24.2  

Materials

     88,707        2.1  

Real Estate

     55,825        1.3  

Short-Term Investment

     234,010        5.6  
  

 

 

    

 

 

 

Total investments

   $ 4,172,609        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

AUD

   $ 4,897        0.1

BRL

     66,876        1.6  

CAD

     242,353        5.8  

CHF

     276,723        6.7  

DKK

     231,273        5.5  

EUR

     617,914        14.8  

GBP

     592,711        14.3  

HKD

     4,482        0.1  

ILS

     40,910        1.0  

INR

     22,608        0.5  

JPY

     579,289        13.9  

SEK

     139,227        3.3  

USD

     1,353,346        32.4  
  

 

 

    

 

 

 

Total investments

   $ 4,172,609        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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS AND EQUITY-LINKED SECURITY - 93.1%

 

Belgium - 2.1%

 

Groupe Bruxelles Lambert SA

     5,511      $ 460,204  
     

 

 

 

Brazil - 0.8%

 

Telefonica Brasil SA, ADR

     20,574        186,402  
     

 

 

 

Canada - 5.7%

 

Alimentation Couche-Tard, Inc.

     24,023        937,083  

Suncor Energy, Inc.

     9,585        336,275  
     

 

 

 
        1,273,358  
     

 

 

 

China - 8.0%

 

Alibaba Group Holding Ltd. *

     46,498        663,094  

Anhui Conch Cement Co. Ltd., Class H

     49,212        213,232  

Hengan International Group Co. Ltd.

     55,171        259,094  

Trip.com Group Ltd. *

     22,583        637,771  
     

 

 

 
        1,773,191  
     

 

 

 

Finland - 1.5%

 

Nokia OYJ, ADR

     58,194        268,273  

Nokia OYJ

     12,797        59,537  
     

 

 

 
        327,810  
     

 

 

 

France - 9.1%

 

Danone SA

     18,772        1,047,717  

Safran SA

     5,576        550,514  

Sodexo SA

     5,400        379,511  

Sodexo SA (Registered Shares) *(1)(2)

     737        51,812  
     

 

 

 
        2,029,554  
     

 

 

 

Germany - 1.5%

 

Fresenius Medical Care AG & Co. KGaA

     6,860        342,422  
     

 

 

 

India - 3.8%

 

HCL Technologies Ltd.

     54,563        672,426  

Indus Towers Ltd.

     67,586        178,951  
     

 

 

 
        851,377  
     

 

 

 

Ireland - 2.4%

 

CRH plc

     6,475        223,934  

Ryanair Holdings plc *

     1,846        21,807  

Ryanair Holdings plc, Equity-Linked Security *(1)(3)(4)

     24,584        290,471  
     

 

 

 
        536,212  
     

 

 

 

Italy - 0.1%

 

Iveco Group NV *

     4,298        22,710  
     

 

 

 

Japan - 1.9%

 

Nintendo Co. Ltd.

     369        159,372  

Seven & i Holdings Co. Ltd.

     6,472        251,221  
     

 

 

 
        410,593  
     

 

 

 

Mexico - 0.8%

 

Gruma SAB de CV, Class B

     16,928        186,917  
     

 

 

 

Netherlands - 5.1%

 

ING Groep NV

     48,479        479,134  

Koninklijke Philips NV

     20,759        447,167  

Universal Music Group NV

     10,027        201,049  
     

 

 

 
        1,127,350  
     

 

 

 

South Korea - 7.2%

 

NAVER Corp.

     2,111        390,293  

Samsung Electronics Co. Ltd.

     18,925        830,790  

Samsung Electronics Co. Ltd. (Preference)

     9,568        383,191  
     

 

 

 
        1,604,274  
     

 

 

 

Spain - 1.3%

 

CaixaBank SA

     83,665        290,824  
     

 

 

 

Switzerland - 14.7%

 

ABB Ltd.

     25,373        676,696  

Cie Financiere Richemont SA

     4,244        451,918  

Credit Suisse Group AG

     22,440        127,404  

Holcim AG *

     12,128        518,952  

Novartis AG

     12,364        1,047,149  

UBS Group AG

     27,745        447,279  
     

 

 

 
        3,269,398  
     

 

 

 

United Kingdom - 14.6%

 

Associated British Foods plc

     13,872        266,460  

Berkeley Group Holdings plc *

     4,748        215,256  

CNH Industrial NV

     19,676        227,229  

Compass Group plc

     45,957        939,856  

Inchcape plc

     9,080        76,876  

Liberty Global plc, Class A *

     8,957        188,551  

Liberty Global plc, Class C *

     6,771        149,574  

Lloyds Banking Group plc

     789,428        406,587  

RELX plc

     26,857        727,752  

RELX plc

     1,755        47,479  
     

 

 

 
        3,245,620  
     

 

 

 

United States - 12.5%

 

Arch Capital Group Ltd. *(5)

     22,578        1,027,093  

Garmin Ltd.

     4,810        472,600  

GSK plc

     11,491        246,966  

Sensata Technologies Holding plc(5)

     8,887        367,107  

Tenaris SA

     167        2,148  

White Mountains Insurance Group Ltd.

     83        103,363  

Willis Towers Watson plc

     2,829        558,431  
     

 

 

 
        2,777,708  
     

 

 

 

Total common stocks and equity-linked security (Cost $19,758,932)

 

     20,715,924  
  

 

 

 

SHORT-TERM INVESTMENT - 6.0%

 

  

INVESTMENT COMPANY - 6.0%

 

  

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $1,333,420)

     1,333,420        1,333,420  
     

 

 

 

Artisan International Value Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Shares and dollar values in thousands

 

Total investments - 99.1% (Cost $21,092,352)

      $ 22,049,344  

Other assets less liabilities - 0.9%

        210,573  
     

 

 

 

Total net assets - 100.0% #

      $ 22,259,917  
     

 

 

 

Artisan International Value Fund

Schedule of Investments (continued)

June 30, 2022 (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 $342,283, or 1.5% of total net assets. See notes (A) and (B) in the accompanying notes.

(2) 

Security is restricted.

 

Security

   Acquisition
Date
   Cost      Value      Percentage of
Total Net Assets
 

Sodexo SA (Registered Shares)

   09/01/2020    $ 63,852      $ 51,812        0.2

 

(3) 

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 – 06/30/2022    $ 406,080      $ 290,471        1.3

 

(4) 

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.

(5) 

Affiliated company as defined under the Investment Company Act of 1940.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 1,454,192        6.6

Consumer Discretionary

     3,888,694        17.6  

Consumer Staples

     2,948,492        13.4  

Energy

     338,423        1.5  

Financials

     4,190,790        19.0  

Health Care

     2,083,704        9.5  

Industrials

     2,641,294        12.0  

Information Technology

     2,214,217        10.0  

Materials

     956,118        4.3  

Short-Term Investment

     1,333,420        6.1  
  

 

 

    

 

 

 

Total investments

   $ 22,049,344        100.0
  

 

 

    

 

 

 

Artisan International Value Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CAD

   $ 1,273,358        5.8

CHF

     3,269,398        14.8  

EUR

     4,855,198        22.0  

GBP

     2,879,753        13.1  

HKD

     1,773,191        8.0  

INR

     851,377        3.9  

JPY

     410,593        1.9  

KRW

     1,604,274        7.3  

MXN

     186,917        0.8  

USD

     4,945,285        22.4  
  

 

 

    

 

 

 

Total investments

   $ 22,049,344        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-Port Part F.

Artisan Mid Cap Fund

Schedule of Investments

June 30, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 95.1%

 

Auto Components - 1.3%

 

Aptiv plc *

     642      $ 57,145  
     

 

 

 

Banks - 4.2%

 

First Republic Bank

     533        76,792  

SVB Financial Group *

     284        112,356  
     

 

 

 
        189,148  
     

 

 

 

Biotechnology - 8.7%

 

Argenx SE, ADR *(1)

     406        153,977  

Ascendis Pharma A/S, ADR *(1)

     1,374        127,727  

BioNTech SE, ADR(1)

     313        46,598  

Exact Sciences Corp. *

     432        17,019  

Genmab A/S *(1)

     145        46,817  
     

 

 

 
        392,138  
     

 

 

 

Building Products - 2.0%

 

Advanced Drainage Systems, Inc.

     654        58,872  

Trex Co., Inc. *

     621        33,801  
     

 

 

 
        92,673  
     

 

 

 

Capital Markets - 8.3%

 

LPL Financial Holdings, Inc.

     484        89,214  

MSCI, Inc.

     223        91,990  

Nasdaq, Inc.

     721        109,961  

Tradeweb Markets, Inc., Class A

     1,229        83,906  
     

 

 

 
        375,071  
     

 

 

 

Communications Equipment - 1.9%

 

Arista Networks, Inc. *

     897        84,073  
     

 

 

 

Containers & Packaging - 0.6%

 

Ball Corp.

     373        25,665  
     

 

 

 

Electrical Equipment - 1.7%

 

Generac Holdings, Inc. *

     363        76,400  
     

 

 

 

Electronic Equipment, Instruments & Components - 3.0%

 

Teledyne Technologies, Inc. *

     211        79,332  

Trimble, Inc. *

     964        56,142  
     

 

 

 
        135,474  
     

 

 

 

Entertainment - 1.0%

 

Take-Two Interactive Software, Inc. *

     361        44,291  
     

 

 

 

Health Care Equipment & Supplies - 2.7%

 

Cooper Cos., Inc. (The)

     89        28,023  

Dexcom, Inc. *

     633        47,165  

Envista Holdings Corp. *

     1,217        46,918  
     

 

 

 
        122,106  
     

 

 

 

Health Care Technology - 4.8%

 

Veeva Systems, Inc., Class A *

     1,095        216,881  
     

 

 

 

Hotels, Restaurants & Leisure - 2.5%

 

Chipotle Mexican Grill, Inc. *

     87        113,248  
     

 

 

 

Insurance - 0.9%

 

Ryan Specialty Holdings, Inc., Class A *

     1,022        40,041  
     

 

 

 

Interactive Media & Services - 3.3%

 

Match Group, Inc. *

     1,152        80,267  

ZoomInfo Technologies, Inc. *

     2,025        67,321  
     

 

 

 
        147,588  
     

 

 

 

Internet & Direct Marketing Retail - 1.2%

 

Etsy, Inc. *

     298        21,817  

Global-e Online Ltd. *(1)

     1,531        30,872  
     

 

 

 
        52,689  
     

 

 

 

IT Services - 3.6%

 

Global Payments, Inc.

     1,452        160,680  
     

 

 

 

Life Sciences Tools & Services - 7.2%

 

Agilent Technologies, Inc.

     621        73,814  

Azenta, Inc.

     857        61,786  

Evotec SE *(1)

     1,175        28,326  

Repligen Corp. *

     354        57,430  

West Pharmaceutical Services, Inc.

     348        105,098  
     

 

 

 
        326,454  
     

 

 

 

Machinery - 4.8%

 

CNH Industrial NV(1)

     4,063        47,085  

Fortive Corp.

     1,078        58,596  

Ingersoll Rand, Inc.

     2,675        112,547  
     

 

 

 
        218,228  
     

 

 

 

Media - 0.5%

 

New York Times Co. (The), Class A

     855        23,841  
     

 

 

 

Multiline Retail - 0.2%

 

Dollar Tree, Inc. *

     68        10,521  
     

 

 

 

Pharmaceuticals - 4.5%

 

Catalent, Inc. *

     1,910        204,939  
     

 

 

 

Professional Services - 0.5%

 

Verisk Analytics, Inc.

     135        23,363  
     

 

 

 

Semiconductors & Semiconductor Equipment - 7.4%

 

Entegris, Inc.

     721        66,456  

Lattice Semiconductor Corp. *

     2,311        112,085  

Monolithic Power Systems, Inc.

     169        65,089  

ON Semiconductor Corp. *

     1,852        93,185  
     

 

 

 
        336,815  
     

 

 

 

Software - 15.1%

 

Atlassian Corp. plc, Class A *

     834        156,379  

Bill.com Holdings, Inc. *

     345        37,957  

Ceridian HCM Holding, Inc. *

     242        11,376  

Datadog, Inc., Class A *

     704        67,081  

HubSpot, Inc. *

     539        162,051  

Synopsys, Inc. *

     355        107,667  

Tyler Technologies, Inc. *

     157        52,195  

Zscaler, Inc. *

     606        90,659  
     

 

 

 
        685,365  
     

 

 

 

Specialty Retail - 2.0%

 

Burlington Stores, Inc. *

     525        71,560  

Five Below, Inc. *

     184        20,919  
     

 

 

 
        92,479  
     

 

 

 

Textiles, Apparel & Luxury Goods - 1.2%

 

Lululemon Athletica, Inc. *

     205        55,926  
     

 

 

 

Total common stocks (Cost $3,487,551)

 

     4,303,242  
  

 

 

 

Artisan Mid Cap Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Shares and dollar values in thousands

 

SHORT-TERM INVESTMENT - 4.2%

 

INVESTMENT COMPANY - 4.2%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $190,357)

     190,357        190,357  
     

 

 

 

Total investments - 99.3% (Cost $3,677,908)

 

     4,493,599  

Other assets less liabilities - 0.7%

 

     30,003  
  

 

 

 

Total net assets - 100.0% #

 

   $ 4,523,602  
  

 

 

 

Artisan Mid Cap Fund

Schedule of Investments (continued)

June 30, 2022 (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

CNH Industrial NV

   United Kingdom    USD

Evotec SE

   Germany    EUR

Genmab A/S

   Denmark    DKK

Global-e Online Ltd.

   Israel    USD

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 215,720        4.8

Consumer Discretionary

     382,008        8.5  

Financials

     604,260        13.5  

Health Care

     1,262,518        28.1  

Industrials

     410,664        9.1  

Information Technology

     1,402,407        31.2  

Materials

     25,665        0.6  

Short-Term Investment

     190,357        4.2  
  

 

 

    

 

 

 

Total investments

   $ 4,493,599        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

DKK

   $ 46,817        1.0

EUR

     28,326        0.6  

USD

     4,418,456        98.4  
  

 

 

    

 

 

 

Total investments

   $ 4,493,599        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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 98.3%

 

Aerospace & Defense - 1.7%

 

CAE, Inc. *(1)

     1,104      $ 27,176  
     

 

 

 

Air Freight & Logistics - 0.9%

 

Expeditors International of Washington, Inc.

     137        13,347  
     

 

 

 

Auto Components - 4.1%

 

BorgWarner, Inc.

     915        30,540  

Gentex Corp.

     1,205        33,705  
     

 

 

 
        64,245  
     

 

 

 

Banks - 4.0%

 

First Citizens BancShares, Inc., Class A

     50        32,557  

M&T Bank Corp.

     186        29,685  
     

 

 

 
        62,242  
     

 

 

 

Capital Markets - 5.9%

 

Carlyle Group, Inc. (The)

     950        30,091  

Moelis & Co., Class A

     737        28,982  

Northern Trust Corp.

     337        32,556  
     

 

 

 
        91,629  
     

 

 

 

Chemicals - 3.5%

 

Celanese Corp.

     206        24,193  

Corteva, Inc.

     554        30,013  
     

 

 

 
        54,206  
     

 

 

 

Consumer Finance - 2.0%

 

Synchrony Financial

     1,119        30,901  
     

 

 

 

Diversified Consumer Services - 2.2%

 

H&R Block, Inc.

     978        34,533  
     

 

 

 

Electric Utilities - 2.9%

 

OGE Energy Corp.

     1,166        44,948  
     

 

 

 

Electrical Equipment - 2.8%

 

nVent Electric plc

     1,387        43,458  
     

 

 

 

Electronic Equipment, Instruments & Components - 1.7%

 

Vontier Corp.

     1,173        26,961  
     

 

 

 

Energy Equipment & Services - 2.7%

 

NOV, Inc.

     2,508        42,414  
     

 

 

 

Entertainment - 2.8%

 

Electronic Arts, Inc.

     244        29,676  

Lions Gate Entertainment Corp., Class A *

     464        4,324  

Lions Gate Entertainment Corp., Class B *

     1,015        8,958  
     

 

 

 
        42,958  
     

 

 

 

Equity Real Estate Investment Trusts (REITs) - 6.0%

 

Lamar Advertising Co., Class A

     470        41,342  

PS Business Parks, Inc.

     46        8,651  

Public Storage

     67        20,949  

STORE Capital Corp.

     841        21,934  
     

 

 

 
        92,876  
     

 

 

 

Food & Staples Retailing - 4.2%

 

Kroger Co. (The)

     755        35,749  

Sysco Corp

     352        29,789  
     

 

 

 
        65,538  
     

 

 

 

Food Products - 2.9%

 

Tyson Foods, Inc., Class A

     521        44,838  
     

 

 

 

Health Care Equipment & Supplies - 1.7%

 

DENTSPLY SIRONA, Inc.

     730        26,096  
     

 

 

 

Health Care Providers & Services - 4.5%

 

AmerisourceBergen Corp.

     174        24,552  

Centene Corp. *

     536        45,375  
     

 

 

 
        69,927  
     

 

 

 

Hotels, Restaurants & Leisure - 6.6%

 

Expedia Group, Inc. *

     377        35,794  

Marriott International, Inc., Class A

     260        35,421  

Vail Resorts, Inc.

     144        31,429  
     

 

 

 
        102,644  
     

 

 

 

Insurance - 7.2%

 

Arch Capital Group Ltd. *

     1,060        48,234  

Globe Life, Inc.

     475        46,310  

Progressive Corp. (The)

     160        18,556  
     

 

 

 
        113,100  
     

 

 

 

Interactive Media & Services - 1.7%

 

IAC/InterActiveCorp *

     348        26,418  
     

 

 

 

Machinery - 1.7%

 

Otis Worldwide Corp.

     373        26,349  
     

 

 

 

Media - 8.6%

 

Cable One, Inc.

     27        34,184  

Liberty Broadband Corp., Class C *

     106        12,222  

Liberty Media Corp.-Liberty SiriusXM, Class A *

     392        14,125  

Liberty Media Corp.-Liberty SiriusXM, Class C *

     390        14,045  

News Corp., Class A

     1,949        30,361  

Omnicom Group, Inc.

     450        28,619  
     

 

 

 
        133,556  
     

 

 

 

Real Estate Management & Development - 1.5%

 

Jones Lang LaSalle, Inc. *

     137        23,903  
     

 

 

 

Road & Rail - 3.1%

 

AMERCO

     103        49,169  
     

 

 

 

Semiconductors & Semiconductor Equipment - 3.8%

 

Analog Devices, Inc.

     411        60,063  
     

 

 

 

Software - 2.1%

 

Check Point Software Technologies Ltd. *(1)

     273        33,239  
     

 

 

 

Specialty Retail - 2.4%

 

AutoNation, Inc. *

     339        37,874  
     

 

 

 

Technology Hardware, Storage & Peripherals - 1.6%

 

NetApp, Inc.

     377        24,574  
     

 

 

 

Trading Companies & Distributors - 1.5%

 

Air Lease Corp.

     711        23,762  
     

 

 

 

Total common stocks (Cost $1,032,025)

 

     1,532,944  
  

 

 

 

Artisan Mid Cap Value Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Shares and dollar values in thousands

 

SHORT-TERM INVESTMENT - 0.9%

 

INVESTMENT COMPANY - 0.9%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $13,339)

     13,339        13,339  
     

 

 

 

Total investments - 99.2% (Cost $1,045,364)

 

     1,546,283  

Other assets less liabilities - 0.8%

 

     13,092  
  

 

 

 

Total net assets - 100.0% #

 

   $ 1,559,375  
  

 

 

 

 

(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  

Artisan Mid Cap Value Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 202,932        13.1

Consumer Discretionary

     239,296        15.5  

Consumer Staples

     110,376        7.1  

Energy

     42,414        2.7  

Financials

     297,872        19.3  

Health Care

     96,023        6.2  

Industrials

     183,261        11.8  

Information Technology

     144,837        9.4  

Materials

     54,206        3.5  

Real Estate

     116,779        7.6  

Utilities

     44,948        2.9  

Short-Term Investment

     13,339        0.9  
  

 

 

    

 

 

 

Total investments

   $ 1,546,283        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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 97.1%

     

Aerospace & Defense - 1.9%

     

BAE Systems plc(1)

     53      $ 539  
     

 

 

 

Air Freight & Logistics - 2.0%

     

FedEx Corp.

     2        557  
     

 

 

 

Airlines - 1.9%

     

Southwest Airlines Co. *

     15        544  
     

 

 

 

Automobiles - 4.8%

     

Harley-Davidson, Inc.

     43        1,375  
     

 

 

 

Banks - 4.7%

     

Citigroup, Inc.

     29        1,332  
     

 

 

 

Capital Markets - 5.1%

     

Bank of New York Mellon Corp. (The)

     35        1,442  
     

 

 

 

Chemicals - 5.4%

     

Axalta Coating Systems Ltd. *

     70        1,538  
     

 

 

 

Construction Materials - 4.4%

     

HeidelbergCement AG(1)

     26        1,243  
     

 

 

 

Consumer Finance - 4.8%

     

American Express Co.

     10        1,348  
     

 

 

 

Diversified Financial Services - 5.9%

     

Berkshire Hathaway, Inc., Class B *

     6        1,671  
     

 

 

 

Food Products - 4.9%

     

Danone SA(1)

     25        1,378  
     

 

 

 

Health Care Equipment & Supplies - 4.9%

     

DENTSPLY SIRONA, Inc.

     39        1,395  
     

 

 

 

Health Care Providers & Services - 5.5%

     

Elevance Health, Inc.

     3        1,547  
     

 

 

 

Hotels, Restaurants & Leisure - 4.3%

     

Aramark

     11        352  

Expedia Group, Inc. *

     9        858  
     

 

 

 
        1,210  
     

 

 

 

Insurance - 11.9%

     

Alleghany Corp. *

     1        955  

Marsh & McLennan Cos., Inc.

     5        806  

Progressive Corp. (The)

     14        1,615  
     

 

 

 
        3,376  
     

 

 

 

Interactive Media & Services - 10.1%

     

Alphabet, Inc., Class A *

     1        1,490  

Meta Platforms, Inc., Class A *

     8        1,368  
     

 

 

 
        2,858  
     

 

 

 

Internet & Direct Marketing Retail - 5.1%

     

Alibaba Group Holding Ltd., ADR *(1)

     13        1,453  
     

 

 

 

Semiconductors & Semiconductor Equipment - 2.6%

     

Lam Research Corp.

     2        734  
     

 

 

 

Specialty Retail - 2.9%

     

Advance Auto Parts, Inc.

     5        823  
     

 

 

 

Technology Hardware, Storage & Peripherals - 4.0%

     

Samsung Electronics Co. Ltd.(1)

     26        1,122  
     

 

 

 

Total common stocks (Cost $29,084)

        27,485  
     

 

 

 

SHORT-TERM INVESTMENT - 2.7%

     

INVESTMENT COMPANY - 2.7%

     

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $759)

     759        759  
     

 

 

 

Total investments - 99.8% (Cost $29,843)

        28,244  

Other assets less liabilities - 0.2%

        45  
     

 

 

 

Total net assets - 100.0%#

      $ 28,289  
     

 

 

 

Artisan Select Equity Fund

Schedule of Investments (continued)

June 30, 2022 (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

BAE Systems plc

   United Kingdom    GBP

Danone SA

   France    EUR

HeidelbergCement AG

   Germany    EUR

Samsung Electronics Co. Ltd.

   South Korea    KRW

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 2,858        10.1

Consumer Discretionary

     4,861        17.2  

Consumer Staples

     1,378        4.9  

Financials

     9,169        32.5  

Health Care

     2,942        10.4  

Industrials

     1,640        5.8  

Information Technology

     1,856        6.6  

Materials

     2,781        9.8  

Short-Term Investment

     759        2.7  
  

 

 

    

 

 

 

Total investments

   $ 28,244        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

EUR

   $ 2,621        9.3

GBP

     539        1.9  

KRW

     1,122        4.0  

USD

     23,962        84.8  
  

 

 

    

 

 

 

Total investments

   $ 28,244        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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 99.4%

     

Banks - 1.5%

     

Live Oak Bancshares, Inc.

     449      $ 15,215  

Silvergate Capital Corp., Class A *

     225        12,071  
     

 

 

 
        27,286  
     

 

 

 

Biotechnology - 22.7%

     

Argenx SE, ADR *(1)

     268        101,648  

Ascendis Pharma A/S, ADR *(1)

     730        67,829  

Avid Bioservices, Inc. *

     665        10,143  

Denali Therapeutics, Inc. *

     262        7,717  

Halozyme Therapeutics, Inc. *

     3,523        155,033  

Iovance Biotherapeutics, Inc. *

     1,606        17,731  

Veracyte, Inc. *

     2,219        44,166  
     

 

 

 
        404,267  
     

 

 

 

Building Products - 2.7%

     

Advanced Drainage Systems, Inc.

     392        35,304  

Trex Co., Inc. *

     241        13,142  
     

 

 

 
        48,446  
     

 

 

 

Capital Markets - 1.9%

     

Morningstar, Inc.

     138        33,379  
     

 

 

 

Construction & Engineering - 4.0%

     

Valmont Industries, Inc.

     313        70,404  
     

 

 

 

Diversified Consumer Services - 1.6%

     

Chegg, Inc. *

     1,497        28,109  
     

 

 

 

Electrical Equipment - 0.8%

     

Shoals Technologies Group, Inc., Class A *

     824        13,584  
     

 

 

 

Electronic Equipment, Instruments & Components - 3.4%

     

Novanta, Inc. *

     499        60,472  
     

 

 

 

Food Products - 0.6%

     

Freshpet, Inc. *

     202        10,506  
     

 

 

 

Health Care Equipment & Supplies - 5.9%

     

Envista Holdings Corp. *

     243        9,349  

iRhythm Technologies, Inc. *

     133        14,363  

Penumbra, Inc. *

     33        4,096  

Shockwave Medical, Inc. *

     404        77,208  
     

 

 

 
        105,016  
     

 

 

 

Health Care Providers & Services - 1.0%

     

Option Care Health, Inc. *

     661        18,361  
     

 

 

 

Health Care Technology - 0.6%

     

OptimizeRx Corp. *

     408        11,178  
     

 

 

 

Hotels, Restaurants & Leisure - 3.9%

     

Papa John’s International, Inc.

     464        38,790  

Wingstop, Inc.

     411        30,744  
     

 

 

 
        69,534  
     

 

 

 

Interactive Media & Services - 1.0%

     

Eventbrite, Inc., Class A *

     1,822        18,714  
     

 

 

 

Internet & Direct Marketing Retail - 1.2%

     

Etsy, Inc. *

     117        8,600  

Global-e Online Ltd. *(1)

     414        8,352  

ThredUp, Inc., Class A *

     1,713        4,282  
     

 

 

 
        21,234  
     

 

 

 

IT Services - 0.9%

     

BigCommerce Holdings, Inc., Series 1 *

     970        15,709  
     

 

 

 

Leisure Products - 0.5%

     

YETI Holdings, Inc. *

     226        9,785  
     

 

 

 

Life Sciences Tools & Services - 3.3%

     

Azenta, Inc.

     407        29,318  

Repligen Corp. *

     179        29,115  
     

 

 

 
        58,433  
     

 

 

 

Machinery - 3.6%

     

Ingersoll Rand, Inc.

     1,348        56,705  

John Bean Technologies Corp.

     53        5,906  

Kornit Digital Ltd. *(1)

     75        2,390  
     

 

 

 
        65,001  
     

 

 

 

Real Estate Management & Development - 0.5%

     

Compass, Inc., Class A *

     2,234        8,066  
     

 

 

 

Semiconductors & Semiconductor Equipment - 12.7%

     

Allegro MicroSystems, Inc. *(1)

     1,058        21,886  

Ambarella, Inc. *

     155        10,153  

Lattice Semiconductor Corp. *

     1,952        94,670  

Monolithic Power Systems, Inc.

     207        79,544  

Wolfspeed, Inc. *

     326        20,655  
     

 

 

 
        226,908  
     

 

 

 

Software - 22.2%

     

Avalara, Inc. *

     354        25,006  

Bentley Systems, Inc., Class B

     755        25,148  

Blackline, Inc. *

     1,030        68,616  

BTRS Holdings, Inc., Class 1 *

     1,311        6,528  

DoubleVerify Holdings, Inc. *

     1,012        22,945  

Freshworks, Inc., Class A *

     819        10,771  

Guidewire Software, Inc. *

     592        42,024  

HubSpot, Inc. *

     86        25,847  

Olo, Inc., Class A *

     1,297        12,798  

Paycor HCM, Inc. *

     814        21,158  

Procore Technologies, Inc. *

     130        5,887  

Q2 Holdings, Inc. *

     1,020        39,338  

Sprout Social, Inc., Class A *

     252        14,608  

Tyler Technologies, Inc. *

     120        39,962  

Workiva, Inc. *

     542        35,739  
     

 

 

 
        396,375  
     

 

 

 

Specialty Retail - 2.9%

     

Five Below, Inc. *

     44        5,012  

Floor & Decor Holdings, Inc., Class A *

     426        26,811  

Leslie’s, Inc. *

     1,252        19,011  
     

 

 

 
        50,834  
     

 

 

 

Total common stocks (Cost $1,536,568)

        1,771,601  
     

 

 

 

Total investments - 99.4% (Cost $1,536,568)

        1,771,601  

Other assets less liabilities - 0.6%

        10,579  
     

 

 

 

Total net assets - 100.0%  #

      $ 1,782,180  
     

 

 

 

Artisan Small Cap Fund

Schedule of Investments (continued)

June 30, 2022 (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
 

Communication Services

   $ 18,714        1.1

Consumer Discretionary

     179,496        10.1  

Consumer Staples

     10,506        0.6  

Financials

     60,665        3.4  

Health Care

     597,255        33.7  

Industrials

     197,435        11.1  

Information Technology

     699,464        39.5  

Real Estate

     8,066        0.5  
  

 

 

    

 

 

 

Total investments

   $ 1,771,601        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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 96.3%

     

Argentina - 1.7%

     

Despegar.com Corp. *

     89      $ 719  

Grupo Financiero Galicia SA, ADR 

     61        421  
     

 

 

 
        1,140  
     

 

 

 

Brazil - 7.4%

     

Aeris Industria E Comercio De Equipamentos Para Geracao De Energia SA

     641        338  

GPS Participacoes e Empreendimentos SA

     308        630  

Itau Unibanco Holding SA (Preference)

     233        1,011  

Lojas Renner SA *

     89        386  

MercadoLibre, Inc. *

     2        1,232  

Vale SA

     90        1,315  
     

 

 

 
        4,912  
     

 

 

 

Chile - 1.7%

     

Empresa Nacional de Telecomunicaciones SA

     171        535  

Vina Concha y Toro SA

     443        606  
     

 

 

 
        1,141  
     

 

 

 

China - 25.9%

     

Alibaba Group Holding Ltd. *

     238        3,390  

Baidu, Inc., Class A *

     65        1,234  

Baozun, Inc., ADR *

     18        192  

China Traditional Chinese Medicine Holdings Co. Ltd.

     2,618        1,618  

Estun Automation Co. Ltd., Class A

     605        2,214  

Kingsoft Cloud Holdings Ltd., ADR *

     57        254  

NIO, Inc., ADR *

     34        729  

Noah Holdings Ltd., ADR *

     28        560  

Prosus NV *

     26        1,725  

Tongwei Co. Ltd., Class A

     96        861  

Trip.com Group Ltd. *

     29        818  

Wuhan Raycus Fiber Laser Technologies Co. Ltd., Class A

     152        881  

Zhuzhou CRRC Times Electric Co. Ltd.

     528        2,603  
     

 

 

 
        17,079  
     

 

 

 

Greece - 2.6%

     

Alpha Services & Holdings SA *

     997        869  

Mytilineos SA

     57        833  
     

 

 

 
        1,702  
     

 

 

 

Hong Kong - 5.0%

     

AIA Group Ltd.

     127        1,373  

China High Precision Automation Group Ltd. *(1)(2)

     9,066        —    

Sino Biopharmaceutical Ltd.

     3,031        1,920  
     

 

 

 
        3,293  
     

 

 

 

India - 9.5%

     

Havells India Ltd.

     84        1,167  

ICICI Bank Ltd.

     224        2,003  

Infosys Ltd.

     54        995  

Reliance Industries Ltd. *

     63        2,079  
     

 

 

 
        6,244  
     

 

 

 

Indonesia - 2.2%

     

Bank Rakyat Indonesia Persero Tbk. PT

     3,260        908  

Indofood CBP Sukses Makmur Tbk. PT

     847        543  
     

 

 

 
        1,451  
     

 

 

 

Kazakhstan - 1.4%

     

Kaspi.KZ JSC, GDR

     20        891  
     

 

 

 

Malaysia - 1.4%

     

Public Bank Bhd

     949        941  
     

 

 

 

Mexico - 3.1%

     

Cemex SAB de CV *

     1,028        401  

Corp. Inmobiliaria Vesta SAB de CV

     498        929  

Fomento Economico Mexicano SAB de CV

     108        731  
     

 

 

 
        2,061  
     

 

 

 

Peru - 1.2%

     

Credicorp Ltd.

     7        783  
     

 

 

 

Portugal - 0.4%

     

Jeronimo Martins SGPS SA

     12        269  
     

 

 

 

Russia - 0.0%

     

LUKOIL PJSC, ADR (1)(2)

     19        —    

MMC Norilsk Nickel PJSC, ADR (1)(2)

     39        —    

Ozon Holdings plc, ADR *(1)(2)

     25        —    

Polyus PJSC, GDR  (1)(2)

     24        —    

Sberbank of Russia PJSC *(1)(2)

     265        —    

Yandex NV, Class A *(1)(2)

     14        —    
     

 

 

 
        —    
     

 

 

 

Singapore - 0.4%

     

Sea Ltd., ADR *

     4        289  
     

 

 

 

South Africa - 1.6%

     

FirstRand Ltd.

     278        1,067  
     

 

 

 

South Korea - 10.7%

     

HYBE Co. Ltd. *

     5        552  

Samsung Biologics Co. Ltd. *

     2        1,298  

Samsung Electronics Co. Ltd.

     102        4,485  

Shinhan Financial Group Co. Ltd.

     26        747  
     

 

 

 
        7,082  
     

 

 

 

Taiwan - 17.9%

     

E Ink Holdings, Inc.

     385        2,441  

MediaTek, Inc.

     88        1,922  

Sunny Friend Environmental Technology Co. Ltd.

     167        1,109  

Artisan Sustainable Emerging Markets Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Shares and dollar values in thousands

 

Taiwan Semiconductor Manufacturing Co. Ltd.

     397        6,350  
     

 

 

 
        11,822  
     

 

 

 

Thailand - 0.7%

     

Bangkok Bank PCL (1)

     127        476  
     

 

 

 

United States - 1.1%

     

Globant SA *

     4        709  
     

 

 

 

Vietnam - 0.4%

     

Vietnam Technological & Commercial Joint Stock Bank *

     155        237  
     

 

 

 

Total common stocks (Cost $68,874)

        63,589  
     

 

 

 

SHORT-TERM INVESTMENT - 0.9%

     

INVESTMENT COMPANY - 0.9%

     

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $598)

     598        598  
     

 

 

 

Total investments - 97.2% (Cost $69,472)

        64,187  

Other assets less liabilities - 2.8%

        1,883  
     

 

 

 

Total net assets - 100.0%  #

      $ 66,070  
     

 

 

 

 

(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 $476, or 0.7% of total net assets. See notes (A) and (B) in the accompanying notes.

(2) 

Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 2,610        4.1

Consumer Discretionary

     9,191        14.4  

Consumer Staples

     3,010        4.7  

Energy

     2,079        3.2  

Financials

     12,287        19.1  

Health Care

     4,836        7.5  

Industrials

     8,894        13.9  

Information Technology

     18,037        28.1  

Materials

     1,716        2.7  

Real Estate

     929        1.4  

Short-Term Investment

     598        0.9  
  

 

 

    

 

 

 

Total investments

   $ 64,187        100.0
  

 

 

    

 

 

 

Artisan Sustainable Emerging Markets Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

BRL

   $ 3,680        5.7

CLP

     1,141        1.8  

CNY

     3,956        6.2  

EUR

     3,696        5.8  

HKD

     12,956        20.1  

IDR

     1,451        2.3  

INR

     6,244        9.7  

KRW

     7,082        11.0  

MXN

     2,061        3.2  

MYR

     941        1.5  

THB

     476        0.7  

TWD

     11,822        18.4  

USD

     7,377        11.5  

VND

     237        0.4  

ZAR

     1,067        1.7  
  

 

 

    

 

 

 

Total investments

   $ 64,187        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, 2022 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 95.6%

     

Aerospace & Defense - 9.6%

     

Airbus SE (1)

     62      $ 5,998  

Northrop Grumman Corp.

     16        7,775  

Raytheon Technologies Corp.

     56        5,399  

Safran SA (1)

     53        5,204  
     

 

 

 
        24,376  
     

 

 

 

Air Freight & Logistics - 3.9%

     

FedEx Corp.

     44        9,882  
     

 

 

 

Banks - 1.8%

     

Bank of America Corp.

     148        4,621  
     

 

 

 

Biotechnology - 2.9%

     

Vertex Pharmaceuticals, Inc. *

     26        7,425  
     

 

 

 

Capital Markets - 8.4%

     

Blackstone, Inc.

     53        4,802  

CME Group, Inc.

     20        4,166  

Goldman Sachs Group, Inc. (The)

     21        6,192  

Morgan Stanley

     83        6,318  
     

 

 

 
        21,478  
     

 

 

 

Communications Equipment - 1.6%

     

Cisco Systems, Inc.

     95        4,047  
     

 

 

 

Consumer Finance - 1.9%

     

Synchrony Financial

     176        4,874  
     

 

 

 

Diversified Financial Services - 1.8%

     

Berkshire Hathaway, Inc., Class B *

     17        4,665  
     

 

 

 

Energy Equipment & Services - 2.5%

     

Schlumberger NV

     179        6,408  
     

 

 

 

Entertainment - 6.6%

     

Electronic Arts, Inc.

     43        5,257  

Netflix, Inc. *

     25        4,321  

Walt Disney Co. (The) *

     33        3,118  

Warner Bros Discovery, Inc. *

     304        4,087  
     

 

 

 
        16,783  
     

 

 

 

Health Care Equipment & Supplies - 4.3%

     

Koninklijke Philips NV (1)

     267        5,750  

Medtronic plc

     58        5,232  
     

 

 

 
        10,982  
     

 

 

 

Health Care Providers & Services - 4.2%

     

Cigna Corp.

     27        7,062  

Fresenius Medical Care AG & Co. KGaA (1)

     73        3,641  
     

 

 

 
        10,703  
     

 

 

 

Hotels, Restaurants & Leisure - 8.5%

     

Booking Holdings, Inc. *

     4        7,837  

Compass Group plc (1)

     385        7,873  

Marriott International, Inc., Class A

     43        5,876  
     

 

 

 
        21,586  
     

 

 

 

Insurance - 3.1%

     

Arch Capital Group Ltd. *

     174        7,902  
     

 

 

 

Interactive Media & Services - 8.4%

     

Alphabet, Inc., Class C *

     6        12,902  

Meta Platforms, Inc., Class A *

     52        8,452  
     

 

 

 
        21,354  
     

 

 

 

IT Services - 2.8%

     

Visa, Inc., Class A

     36        7,158  
     

 

 

 

Media - 3.1%

     

Comcast Corp., Class A

     202        7,916  
     

 

 

 

Oil, Gas & Consumable Fuels - 3.5%

     

EOG Resources, Inc.

     81        8,933  
     

 

 

 

Pharmaceuticals - 3.1%

     

Merck & Co., Inc.

     85        7,793  
     

 

 

 

Semiconductors & Semiconductor Equipment - 1.7%

     

NXP Semiconductors NV (1)

     30        4,415  
     

 

 

 

Specialty Retail - 2.0%

     

AutoNation, Inc. *

     44        4,959  
     

 

 

 

Technology Hardware, Storage & Peripherals - 2.5%

     

Samsung Electronics Co. Ltd. (Preference) (1)

     160        6,389  
     

 

 

 

Tobacco - 5.7%

     

Altria Group, Inc.

     151        6,312  

Philip Morris International, Inc.

     84        8,300  
     

 

 

 
        14,612  
     

 

 

 

Trading Companies & Distributors - 1.7%

     

Air Lease Corp.

     126        4,206  
     

 

 

 

Total common stocks (Cost $190,688)

        243,467  
     

 

 

 

SHORT-TERM INVESTMENT - 3.2%

     

INVESTMENT COMPANY - 3.2%

     

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34% (Cost $8,255)

     8,255        8,255  
     

 

 

 

Total investments - 98.8% (Cost $198,943)

        251,722  

Other assets less liabilities - 1.2%

        3,029  
     

 

 

 

Total net assets - 100.0%  #

      $ 254,751  
     

 

 

 

Artisan Value Fund

Schedule of Investments (continued)

June 30, 2022 (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

Fresenius Medical Care AG & Co. KGaA

   Germany    EUR

Koninklijke Philips NV

   Netherlands    EUR

NXP Semiconductors NV

   China    USD

Safran SA

   France    EUR

Samsung Electronics Co. Ltd.

   South Korea    KRW

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 46,053        18.3

Consumer Discretionary

     26,545        10.5  

Consumer Staples

     14,612        5.8  

Energy

     15,341        6.1  

Financials

     43,540        17.3  

Health Care

     36,903        14.7  

Industrials

     38,464        15.3  

Information Technology

     22,009        8.7  

Short-Term Investment

     8,255        3.3  
  

 

 

    

 

 

 

Total investments

   $ 251,722        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

EUR

   $ 20,593        8.2

GBP

     7,873        3.1  

KRW

     6,389        2.5  

USD

     216,867        86.2  
  

 

 

    

 

 

 

Total investments

   $ 251,722        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, 2022 (Unaudited)

Principal amount, shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 91.4%

 

Aerospace & Defense - 5.0%

 

Airbus SE (1)

     1      $ 120  

Raytheon Technologies Corp.

     2        221  

Safran SA (1)

     1        128  
     

 

 

 
        469  
     

 

 

 

Banks - 3.7%

 

Bank of America Corp.

     5        159  

Bank of Hawaii Corp.

     3        195  
     

 

 

 
        354  
     

 

 

 

Beverages - 4.1%

 

Coca-Cola Co. (The)

     3        183  

Heineken Holding NV (1)

     3        204  
     

 

 

 
        387  
     

 

 

 

Capital Markets - 15.2%

 

Blackstone, Inc.

     2        141  

Carlyle Group, Inc. (The)

     6        177  

CME Group, Inc.

     1        163  

Cohen & Steers, Inc.

     3        165  

GCM Grosvenor, Inc., Class A

     19        131  

Goldman Sachs Group, Inc. (The)

     0        118  

Moelis & Co., Class A

     5        203  

Morgan Stanley

     2        120  

Northern Trust Corp.

     2        217  
     

 

 

 
        1,435  
     

 

 

 

Communications Equipment - 1.5%

 

Cisco Systems, Inc.

     3        145  
     

 

 

 

Consumer Finance - 1.2%

 

Synchrony Financial

     4        115  
     

 

 

 

Diversified Consumer Services - 2.2%

 

H&R Block, Inc. (2)

     6        205  
     

 

 

 

Electric Utilities - 6.3%

 

IDACORP, Inc.

     1        110  

OGE Energy Corp.

     5        210  

Portland General Electric Co.

     3        128  

PPL Corp.

     6        150  
     

 

 

 
        598  
     

 

 

 

Electrical Equipment - 2.7%

 

nVent Electric plc

     8        251  
     

 

 

 

Equity Real Estate Investment Trusts (REITs) - 8.5%

 

Camden Property Trust

     1        108  

Lamar Advertising Co., Class A

     3        296  

Public Storage

     1        207  

STORE Capital Corp.

     7        191  
     

 

 

 
        802  
     

 

 

 

Food & Staples Retailing - 1.5%

 

Sysco Corp.

     2        146  
     

 

 

 

Food Products - 2.5%

 

Tyson Foods, Inc., Class A

     3        237  
     

 

 

 

Gas Utilities - 1.6%

 

Atmos Energy Corp.

     1        152  
     

 

 

 

Health Care Equipment & Supplies - 3.8%

 

Koninklijke Philips NV (1)

     7        156  

Medtronic plc

     2        200  
     

 

 

 
        356  
     

 

 

 

Health Care Providers & Services - 1.1%

 

Fresenius Medical Care AG & Co. KGaA (1)

     2        106  
     

 

 

 

Hotels, Restaurants & Leisure - 3.3%

 

Compass Group plc (1)

     9        194  

Vail Resorts, Inc.

     1        115  
     

 

 

 
        309  
     

 

 

 

IT Services - 1.8%

 

Visa, Inc., Class A

     1        167  
     

 

 

 

Machinery - 2.1%

 

Otis Worldwide Corp.

     3        195  
     

 

 

 

Media - 5.4%

 

Cable One, Inc.

     0        138  

Comcast Corp., Class A

     6        240  

Omnicom Group, Inc.

     2        137  
     

 

 

 
        515  
     

 

 

 

Oil, Gas & Consumable Fuels - 3.0%

 

EOG Resources, Inc.

     3        280  
     

 

 

 

Pharmaceuticals - 2.3%

 

Merck & Co., Inc.

     2        219  
     

 

 

 

Professional Services - 1.5%

 

Applus Services SA (1)

     20        142  
     

 

 

 

Technology Hardware, Storage & Peripherals - 4.2%

 

NetApp, Inc.

     3        192  

Samsung Electronics Co. Ltd. (Preference) (1)

     5        208  
     

 

 

 
        400  
     

 

 

 

Tobacco - 6.6%

 

Altria Group, Inc.

     7        291  

Philip Morris International, Inc.

     3        328  
     

 

 

 
        619  
     

 

 

 

Trading Companies & Distributors - 0.3%

 

Air Lease Corp.

     1        32  
     

 

 

 

Total common stocks (Cost $9,853)

 

     8,636  
  

 

 

 
     Principal
Amount
        

CORPORATE BONDS - 3.2%

 

Aerospace & Defense - 2.1%

 

Boeing Co. (The) 1.43%, 2/4/2024

   $ 209        199  
     

 

 

 

Artisan Value Income Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

Principal amount, shares and dollar values in thousands

 

Diversified Financial Services - 1.1%

 

Air Lease Corp. Series C, (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 3.15%), 4.12%, 12/15/2026 (3)(4)

     149        107  
     

 

 

 

Total corporate bonds (Cost $335)

 

     306  
  

 

 

 

CONVERTIBLE BONDS - 1.7%

 

Internet - 0.4%

 

Twitter, Inc.

 

  

Zero Coupon, 3/15/2026

     46        41  
     

 

 

 

Media - 1.3%

 

Cable One, Inc.

 

  

Zero Coupon, 3/15/2026

     75        62  

1.13%, 3/15/2028

     73        61  
     

 

 

 
        123  
     

 

 

 

Total convertible bonds (Cost $160)

 

     164  
  

 

 

 

CONVERTIBLE PREFERRED STOCK - 1.5%

 

Health Care Equipment & Supplies - 1.5%

 

Boston Scientific Corp. Series A, 5.50%, 6/1/2023 (Cost $158)

     1        138  
     

 

 

 
     Shares Held         

SHORT-TERM INVESTMENTS - 3.6%

 

INVESTMENT COMPANIES - 3.6%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 1.34%

     115        115  

Federated Treasury Obligations Fund - Institutional Class, 1.38%

     112        112  

Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 1.31%

     111        111  
     

 

 

 

Total short-term investments (Cost $338)

 

     338  
  

 

 

 

Total investments - 101.4% (Cost $10,844)

 

     9,582  

Written Option Contracts - 0.0%^ (Premiums received $(2))

 

     (2

Other assets less liabilities - (1.4%)

 

     (131
  

 

 

 

Total net assets - 100.0%  #

 

   $ 9,449  
  

 

 

 

Artisan Value Income Fund

Schedule of Investments (continued)

June 30, 2022 (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

Applus Services SA

   Spain    EUR

Compass Group plc

   United Kingdom    GBP

Fresenius Medical Care AG & Co. KGaA

   Germany    EUR

Heineken Holding NV

   Netherlands    EUR

Koninklijke Philips NV

   Netherlands    EUR

Safran SA

   France    EUR

Samsung Electronics Co. Ltd.

   South Korea    KRW

 

(2) 

At June 30, 2022, all or a portion of this security was pledged to cover collateral requirements for written options.

(3) 

Perpetual security. The rate reflected was the rate in effect on June 30, 2022. The maturity date reflects the next call date.

(4) 

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2022.

Written Option Contracts    

Call Option

Dollar values in thousands    

 

Number of
Contracts
  

Description

   Exercise
Price
     Notional
Amount
     Expiration
Date
     Premiums
Paid/(Received)
by Fund
     Market
Value
     Unrealized
Appreciation/
(Depreciation)
 
8   

H&R Block, Inc.

   $ 37.00      $ 28        10/21/22      $ (2    $ (2    $ —   (1) 
              

 

 

    

 

 

    

 

 

 

Total written option contracts

     $ (2    $ (2    $ —   (1) 
  

 

 

    

 

 

    

 

 

 

 

 

One contract is equal to 100 shares.

(1) 

Amount rounds to less than one.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 679        7.1

Consumer Discretionary

     514        5.4  

Consumer Staples

     1,389        14.5  

Energy

     280        2.9  

Financials

     1,904        19.9  

Health Care

     819        8.5  

Industrials

     1,395        14.6  

Information Technology

     712        7.4  

Real Estate

     802        8.4  

Utilities

     750        7.8  

Short-Term Investment

     338        3.5  
  

 

 

    

 

 

 

Total investments

   $ 9,582        100.0
  

 

 

    

 

 

 

Artisan Value Income Fund

Schedule of Investments (continued)

June 30, 2022 (Unaudited)

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

EUR

   $ 856        8.9

GBP

     194        2.0  

KRW

     208        2.2  

USD

     8,324        86.9  
  

 

 

    

 

 

 

Total investments

   $ 9,582        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, 2022 (UNAUDITED)

As of June 30, 2022, 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) Valuation:

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, including the Nasdaq Stock Market, 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 are valued at cost plus accrued interest. Exchange traded 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, swaptions, 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 were valued at the latest net asset value reported by the investment company. Equity securities acquired in private investments in public equity (“PIPEs”) are generally restricted as to resale and not freely tradeable by the Funds. The securities were generally valued at the common share market price adjusted by a percentage

Notes to N-PORT Part F – June 30, 2022 (UNAUDITED) - (continued)

 

discount due to the restrictions when such securities are unregistered common shares or otherwise convertible into the publicly traded common shares (applying any applicable conversion factors).

Fixed income securities 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.

Securities or other assets for which market quotations were not readily available were valued by the Funds’ valuation committee at a fair value determined in good faith under procedures established by and under the general supervision of the board of directors of the Funds. A market quotation was considered to be not readily available, and a Fund therefore used fair value pricing, if, among other things, there were no quotations, pricing data was not provided by an approved pricing vendor, the valuation committee believed that the quotation, price or market value resulting from the Funds’ valuation procedures did not reflect a fair value of the security or asset, or the value of the security or asset might have been materially affected by events occurring after the close of the market in which the security or asset was principally traded but before the time for determination of NAV (a “subsequent event”). A subsequent valuation event could include a company-specific development, a development that might affect an entire market or region, a potentially global development or a significant change in values of market indices, ETFs or other financial instruments in the US or other markets. The Funds monitored for subsequent valuation events using several tools. In fair valuing non-US equity securities and equity-linked securities, the Funds have used adjustment factors provided by a third party valuation service when there were subsequent events or expected or unexpected market closures. The third party valuation service utilized statistical data based on historical performance of securities, markets and other data in developing factors used to estimate a fair value.

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 values 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 could be material to the NAV of the applicable Fund.

Securities and other assets and liabilities denominated in a foreign currency were translated into U.S. dollars using spot market rate of exchange as of the time of determination of each Fund’s NAV on the day of valuation.

(B) 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

Notes to N-PORT Part F – June 30, 2022 (UNAUDITED) - (continued)

 

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 are found in Note (A). A description of the fair value leveling techniques are 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. PIPE investments are generally categorized as Level 3. Securities fair valued in good faith by the valuation committee are generally categorized as Level 2 or 3, depending on the observability of the inputs utilized.

Notes to N-PORT Part F – June 30, 2022 (UNAUDITED) - (continued)

 

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, 2022 (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)

        

Developed Markets

   $             2,186,764     $ —       $               —       $ 2,186,764  

Emerging Asia

     1,227,079       —         —         1,227,079  

Europe, Middle East & Africa

     —         —         —   (3)      —    

Latin America

     272,304       —         —         272,304  

Total Investments

   $ 3,686,147     $ —       $ —   (3)    $ 3,686,147  

Emerging Markets Debt Opportunities

        

Sovereign Government Bonds(1)

   $ —       $             11,667     $ —       $ 11,667  

Corporate Bonds(1)

     —         1,450       —         1,450  

Option Purchased

     —         4       —         4  

U.S. Treasury Obligations

     —         6,398       —         6,398  

Investment Companies

     451       —         —         451  

Total Investments

     451       19,519       —         19,970  

Foreign Currency Forward Contracts(2)

     —         13       1       14  

Futures(2)

     30       —         —         30  

Centrally Cleared Interest Rate Swaps(2)

     —         (25     —         (25

Total

   $ 481     $ 19,507     $ 1     $ 19,989  

Floating Rate

        

Bank Loans(1)

   $ —       $ 40,812     $ —       $ 40,812  

Corporate Bonds(1)

     —         2,912       —         2,912  

Investment Companies

     1,805       —         —         1,805  

Total Investments

   $ 1,805     $ 43,724     $ —       $ 45,529  

Focus

        

Common Stocks(1)

   $ 1,655,554     $ —       $ —       $ 1,655,554  

Options Purchased

     18,799       —         —         18,799  

Investment Company

     98,379       —         —         98,379  

Total Investments

     1,772,732       —         —         1,772,732  

Foreign Currency Forward Contracts(2)

     —         330       —         330  

Total

   $ 1,772,732     $ 330     $ —       $ 1,773,062  

Global Discovery

        

Common Stocks(1)

        

Americas

   $ 168,688     $ —       $ —       $ 168,688  

Emerging Markets

     8,413       —         —         8,413  

Europe

     57,475       —         —         57,475  

Pacific Basin

     14,264       —         —         14,264  

Investment Company

     14,369       —         —         14,369  

Total Investments

   $ 263,209     $ —       $ —       $ 263,209  

Global Equity

        

Common Stocks(1)

        

Americas

   $ 113,593     $ —       $ —       $ 113,593  

Emerging Markets

     14,112       —         —   (3)      14,112  

Europe

     71,344       —         —         71,344  

Pacific Basin

     5,831       —         —         5,831  

Total Investments

   $ 204,880     $ —       $ —   (3)    $ 204,880  

Global Opportunities

        

Common Stocks(1)

        

Americas

   $ 1,948,513     $ —       $ —       $ 1,948,513  

Emerging Markets

     29,112       —         —         29,112  

Europe

     955,304       —         —         955,304  

Pacific Basin

     322,940       —         —         322,940  

Investment Company

     162,960       —         —         162,960  

Total Investments

   $ 3,418,829     $ —       $ —       $ 3,418,829  

Global Unconstrained

        

Sovereign Government Bonds(1)

   $ —       $ 4,803     $ —       $ 4,803  

Corporate Bonds(1)

     —         870       —         870  

Options Purchased

     —         2       —         2  

Sovereign Government Treasury Bill

     —         572       —         572  

U.S. Treasury Obligations

     —         4,998       —         4,998  

Repurchase Agreement

     —         63       —         63  

Investment Companies

     1,169       —         —         1,169  

Total Investments before securities sold short

     1,169       11,308       —         12,477  

Sovereign Government Bonds

     —         (52     —         (52

Total Investments after securities sold short

     1,169       11,256       —         12,425  

Foreign Currency Forward Contracts(2)

     —         48       22       70  

Futures(2)

     12       —         —         12  

Centrally Cleared Credit Default Swaps(2)

     —         51       —         51  

Centrally Cleared Interest Rate Swaps(2)

     —         39       —         39  

Total

   $ 1,181     $ 11,394     $ 22     $ 12,597  

Global Value

                                

Common Stocks(1)

        

Americas

   $ 893,093     $ —       $ —       $ 893,093  

Emerging Markets

     184,482       —         —         184,482  

Europe

     776,267       —         —         776,267  

Pacific Basin

     57,045       —         —         57,045  

Investment Company

     52,503       —         —         52,503  

Total Investments

   $ 1,963,390     $ —       $ —       $ 1,963,390  

High Income

        

Corporate Bonds(1)

   $ —       $ 4,289,137     $ —       $ 4,289,137  

Bank Loans(1)

     —         1,020,712       —         1,020,712  

Common Stock(1)

     —         24,386       —         24,386  

Investment Company

     308,384       —         —         308,384  

Total Investments

     308,384       5,334,235       -         5,642,619  

Foreign Currency Forward Contracts(2)

     —         43       —         43  

Futures(2)

     319       —         —         319  

Total

   $ 308,703     $ 5,334,278     $ —       $ 5,642,981  

International

        

Common Stocks and Equity-Linked Security(1)

        

Americas

   $ 1,331,769     $ —       $ —       $ 1,331,769  

Emerging Markets

     215,412       —         —   (3)      215,412  

Europe

     4,061,696       133,806       —         4,195,502  

Middle East

     10,162       —         —         10,162  

Pacific Basin

     50,104       —         —         50,104  

Investment Company

     118,515       —         —         118,515  

Total Investments

   $ 5,787,658     $ 133,806     $ —   (3)    $ 5,921,464  

International Explorer

        

Common Stocks(1)

        

Americas

   $ 1,599     $ —       $ —       $ 1,599  

Emerging Markets

     2,684       —         —         2,684  

Europe

     5,117       —         —         5,117  

Pacific Basin

     1,462       —         —         1,462  

Investment Companies

     2,365       —         —         2,365  

Total Investments

   $ 13,227     $ —       $ —       $ 13,227  

International Small-Mid

        

Common Stocks(1)

        

Americas

   $ 951,907     $ —       $ —       $ 951,907  

Emerging Markets

     244,889       —         —         244,889  

Europe

     1,840,801       —         —         1,840,801  

Middle East

     316,816       —         —         316,816  

Pacific Basin

     584,186       —         —         584,186  

Investment Company

     234,010       —         —         234,010  

Total Investments

   $ 4,172,609     $ —       $ —       $ 4,172,609  

International Value

        

Common Stocks and Equity-Linked Security(1)

        

Americas

   $ 4,051,066     $ —       $ —       $ 4,051,066  

Emerging Markets

     4,602,161       —         —         4,602,161  

Europe

     11,309,821       342,283       —         11,652,104  

Pacific Basin

     410,593       —         —         410,593  

Investment Company

     1,333,420       —         —         1,333,420  

Total Investments

     21,707,061       342,283       —         22,049,344  

Mid Cap

        

Common Stocks(1)

   $ 4,303,242     $ —       $ —       $ 4,303,242  

Investment Company

     190,357       —         —         190,357  

Total Investments

   $ 4,493,599     $ —       $ —       $ 4,493,599  

Mid Cap Value

        

Common Stocks(1)

   $ 1,532,944     $ —       $ —       $ 1,532,944  

Investment Company

     13,339       —         —         13,339  

Total Investments

   $ 1,546,283     $ —       $ —       $ 1,546,283  

Select Equity

        

Common Stocks(1)

   $ 27,485     $ —       $ —       $ 27,485  

Investment Company

     759       —         —         759  

Total Investments

   $ 28,244     $ —       $ —       $ 28,244  

Small Cap

        

Common Stocks(1)

   $ 1,771,601     $ —       $ —       $ 1,771,601  

Total Investments

   $ 1,771,601     $ —       $ —       $ 1,771,601  

Sustainable Emerging Markets

        

Common Stocks(1)

        

Developed Markets

   $ 4,560     $ —       $ —   (3)    $ 4,560  

Emerging Asia

     44,856       476       —         45,332  

Europe, Middle East & Africa

     3,660       —         —   (3)      3,660  

Latin America

     10,037       —         —         10,037  

Investment Company

     598       —         —         598  

Total Investments

   $ 63,711     $ 476     $ —   (3)    $ 64,187  

Value

        

Common Stocks(1)

   $ 243,467     $ —       $ —       $ 243,467  

Investment Company

     8,255       —         —         8,255  

Total Investments

   $ 251,722     $ —       $ —       $ 251,722  

Value Income

        

Common Stocks(1)

   $ 8,636     $ —       $ —       $ 8,636  

Corporate Bonds(1)

     —         306       —         306  

Convertible Preferred Stock(1)

     138       —         —         138  

Convertible Bonds(1)

     —         164       —         164  

Investment Companies

     338       —         —         338  

Total Investments

     9,112       470       —         9,582  

Written Option Contracts

     (2     —         —         (2

Total

   $ 9,110     $ 470     $ —       $ 9,580  

 

(1) 

See the Fund’s Schedule of Investments for industry or country classifications.

(2) 

Foreign currency forward contracts, futures contracts and centrally cleared swaps 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.

(3) 

Valued at $0.

Notes to N-PORT Part F – June 30, 2022 (UNAUDITED) - (continued)

 

Information about Level 3 fair value measurements (dollar values in thousands):

 

Assets

   Fair Value at June 30, 2022    

Unobservable Input(s)

   Impact to Fair
Value from an
Increase in Input
 

Developing World Fund

       

Common Stock

   $ —   (1)    Last quote in inactive market less 100% discount      N/A  

Emerging Markets Debt Opportunities Fund

       

Foreign Currency Forward Contract

   $ 1     Forward points      Decrease  

Global Equity Fund

       

Common Stock

   $ —   (1)    Last quote in inactive market less 100% discount      N/A  

Global Unconstrained Fund

       

Foreign Currency Forward Contract

   $ 22     Forward points      Decrease  

International Fund

       

Common Stock

   $ —   (1)    Last quote in inactive market less 100% discount      N/A  

Sustainable Emerging Markets Fund

       

Common Stock

   $ —   (1)    Last quote in inactive market less 100% discount      N/A  

 

(1) 

Includes one or more securities valued at $0.    

Notes to N-PORT Part F – June 30, 2022 (UNAUDITED) - (continued)

 

As of June 30, 2022, 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
Opportunities
Fund*
     Global Equity
Fund
    Global
Unconstrained
Fund**
     International
Fund
    Sustainable
Emerging
Markets Fund
 

Balance as of September 30, 2021

   $ —       $ —        $ —       $ —        $ —       $ —   (1) 

Transfers into Level 3

     97,770       —          4,316       —          150,517       6,589  

Net change in unrealized appreciation (depreciation)

     (121,031     1        (8,667     22        (300,969     (8,186

Purchases

     48,497       —          5,123       —          171,993       2,075  

Sales

     (25,474     —          (641     —          (18,078     (413

Accrued Amortization

     —         —          —         —          —         —    

Realized Gain/(Loss)

     238       —          (131     —          (3,463     (65

Transfers out of Level 3

     —         —          —         —          —         —    
  

 

 

   

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Balance as of June 30, 2022

   $ —   (1)    $ 1      $ —   (1)    $ 22      $ —   (1)    $ —   (1) 
  

 

 

   

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Net change in unrealized appreciation (depreciation) for investments held as of June 30, 2022

   $ (121,031   $ 1      $ (8,667   $ 22      $ (300,969   $ (8,186
  

 

 

   

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

 

* 

Fund launched on April 7, 2022.

** 

Fund launched on March 31, 2022.

(1) 

Includes one or more investments valued at $0.    

Notes to N-PORT Part F – June 30, 2022 (UNAUDITED) - (continued)

 

(C) 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, 2022 (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, 2022.

Transactions in securities of affiliates:

 

    As of 09/30/2021                             As of 06/30/2022        

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.

    3,666     $ 45,772     $ —       $ (2,181   $ (2,535   $ (18,784     3,321     $ 22,272     $ 172  

CKD Corp.

    4,443       94,824       —         (6,630     (3,810     (33,354     4,007       51,030       1,587  

Daikokutenbussan Co. Ltd.

    965       56,662       —         (3,271     (3,787     (24,454     875       25,150       185  

Model N, Inc.*

    2,194       73,484       —         (5,092     (3,894     (13,850     1,980       50,648       —    

Raccoon Holdings, Inc.

    2,214       31,135       —         (3,562     (3,002     (1,045     1,913       23,526       331  

Radware Ltd.*†

    2,736       92,248       1,358       (23,417     1,937       (28,701     2,004       43,425       —    

Temairazu, Inc.†

    363       20,866       —         (1,813     (674     (6,207     321       12,172       61  

Ubicom Holdings, Inc.

    928       24,206       —         (1,728     (1,754     (6,274     837       14,450       59  

ViewRay, Inc.*

    12,082       87,112       —         (4,198     (3,181     (50,869     10,892       28,864       —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total#

    $ 526,309     $ 1,358     $ (51,892   $ (20,700   $ (183,538     $ 215,940     $ 2,395  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

International Value Fund

                 

Arch Capital Group Ltd.*

    22,709     $ 867,017     $ 52,930     $ (60,077   $ 4,309     $ 162,914       22,578     $ 1,027,093     $ —    

Sensata Technologies Holding plc

    —         —         488,518       —         —         (121,411     8,887       367,107       944  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

    $ 867,017     $ 541,448     $ (60,077   $ 4,309     $ 41,503       $ 1,394,200     $ 944  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Small Cap Fund

                 

Vapotherm, Inc.*†

    1,323     $ 29,455     $ 666     $ (8,489   $ (30,484   $ 8,852       —       $ —       $ —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total#

    $ 29,455     $ 666     $ (8,489   $ (30,484   $ 8,852       $ —       $ —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

@

Net of foreign taxes withheld, if any.

Issuer was not an affiliate as of June 30, 2022.

*

Non-income producing security.

#

Total value as of June 30, 2022 is presented only for those issuers that were affiliates as of June 30, 2022.