0001752724-23-198563.txt : 20230829 0001752724-23-198563.hdr.sgml : 20230829 20230829121351 ACCESSION NUMBER: 0001752724-23-198563 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230630 FILED AS OF DATE: 20230829 DATE AS OF CHANGE: 20230829 PERIOD START: 20230930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARTISAN PARTNERS FUNDS INC CENTRAL INDEX KEY: 0000935015 IRS NUMBER: 391811840 STATE OF INCORPORATION: WI FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-08932 FILM NUMBER: 231220176 BUSINESS ADDRESS: STREET 1: 875 EAST WISCONSIN AVE STE 800 CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 414-390-6100 MAIL ADDRESS: STREET 1: 875 EAST WISCONSIN AVE STE 800 CITY: MILWAUKEE STATE: WI ZIP: 53202 FORMER COMPANY: FORMER CONFORMED NAME: ARTISAN FUNDS INC DATE OF NAME CHANGE: 19950310 FORMER COMPANY: FORMER CONFORMED NAME: ZIEGLER FUNDS INC DATE OF NAME CHANGE: 19950109 0000935015 S000006498 Artisan Small Cap Fund C000017767 Investor Shares ARTSX C000113863 Institutional Shares APHSX C000177293 Advisor Shares APDSX NPORT-P 1 primary_doc.xml NPORT-P false 0000935015 XXXXXXXX S000006498 C000113863 C000017767 C000177293 Artisan Partners Funds Inc. 811-08932 0000935015 549300VBCRY84OJ96193 875 E Wisconsin Ave Milwaukee 53202 414-390-6100 Artisan Small Cap Fund S000006498 549300QY9C2JZ6CCJQ17 2023-09-30 2023-06-30 N 1874580204.96 1499649.35 1873080555.61 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 15027658.78999999 N Crocs, Inc. 549300B0J6YCXD63OG72 Crocs, Inc. 227046109 112477.00000000 NS USD 12646913.88000000 0.675193271433 Long EC CORP US N 1 N N N Shoals Technologies Group, Inc. N/A Shoals Technologies Group, Inc., Class A 82489W107 942993.00000000 NS USD 24102901.08000000 1.286805364980 Long EC CORP US N 1 N N N Lattice Semiconductor Corp. 549300LRBBPZDQ2II567 Lattice Semiconductor Corp. 518415104 1627488.00000000 NS USD 156352772.16000000 8.347359738037 Long EC CORP US N 1 N N N Floor & Decor Holdings, Inc. 549300M5FR3N688XGQ36 Floor & Decor Holdings, Inc., Class A 339750101 369467.00000000 NS USD 38409789.32000000 2.050621325653 Long EC CORP US N 1 N N N Repligen Corp. 54930006QJ0T5AUO1E71 Repligen Corp. 759916109 206438.00000000 NS USD 29202719.48000000 1.559074402461 Long EC CORP US N 1 N N N Saia, Inc. 549300WNPG4N9GBOYB29 Saia, Inc. 78709Y105 30862.00000000 NS USD 10567457.42000000 0.564175277371 Long EC CORP US N 1 N N N Kornit Digital Ltd. 5299006DPCQWP3VTFK34 Kornit Digital Ltd. N/A 249889.00000000 NS USD 7339239.93000000 0.391827244590 Long EC CORP IL N 1 N N N Freshpet, Inc. 549300S4ZK8ZQ6HNPN59 Freshpet, Inc. 358039105 177446.00000000 NS USD 11677721.26000000 0.623450028618 Long EC CORP US N 1 N N N Argenx SE 7245009C5FZE6G9ODQ71 Argenx SE 04016X101 232732.00000000 NS USD 90702642.36000000 4.842431474094 Long EC CORP NL N 1 N N N Model N, Inc. 549300WCIL3W0EYSBN94 Model N, Inc. 607525102 171255.00000000 NS USD 6055576.80000000 0.323295054335 Long EC CORP US N 1 N N N SPX Technologies, Inc. P761FCI0CPOG24I8JE10 SPX Technologies, Inc. 78473E103 220948.00000000 NS USD 18773951.56000000 1.002303478287 Long EC CORP US N 1 N N N Twist Bioscience Corp. 549300T23BL59LCOH584 Twist Bioscience Corp. 90184D100 1000210.00000000 NS USD 20464296.60000000 1.092547596989 Long EC CORP US N 1 N N N Shift4 Payments, Inc. N/A Shift4 Payments, Inc., Class A 82452J109 124778.00000000 NS USD 8473673.98000000 0.452392394690 Long EC CORP US N 1 N N N Workiva, Inc. 529900RTOQ8GRWHY1O58 Workiva, Inc., Class A 98139A105 496521.00000000 NS USD 50476324.86000000 2.694829365924 Long EC CORP US N 1 N N N MarketAxess Holdings, Inc. 5493002U1CA1XJOVID83 MarketAxess Holdings, Inc. 57060D108 70364.00000000 NS USD 18394556.88000000 0.982048360114 Long EC CORP US N 1 N N N Advanced Drainage Systems, Inc. 6QQTOZ5MF5DHM7K92I60 Advanced Drainage Systems, Inc. 00790R104 152040.00000000 NS USD 17299111.20000000 0.923564720598 Long EC CORP US N 1 N N N Exact Sciences Corp. 549300VM3X1FYD4N9Z14 Exact Sciences Corp. 30063P105 451709.00000000 NS USD 42415475.10000000 2.264476825247 Long EC CORP US N 1 N N N John Bean Technologies Corp. 5493007CT6ATBZ2L6826 John Bean Technologies Corp. 477839104 81854.00000000 NS USD 9928890.20000000 0.530083459051 Long EC CORP US N 1 N N N Clearwater Analytics Holdings, Inc. N/A Clearwater Analytics Holdings, Inc., Class A 185123106 1296536.00000000 NS USD 20576026.32000000 1.098512621807 Long EC CORP US N 1 N N N Five Below, Inc. 529900AAXP5Z6BGI7418 Five Below, Inc. 33829M101 114832.00000000 NS USD 22569081.28000000 1.204917813726 Long EC CORP US N 1 N N N Generac Holdings, Inc. 529900S2H2AHJHSFFI84 Generac Holdings, Inc. 368736104 78410.00000000 NS USD 11693283.30000000 0.624280854604 Long EC CORP US N 1 N N N Iovance Biotherapeutics, Inc. 2549002L8WT2ACU5Q878 Iovance Biotherapeutics, Inc. 462260100 2435678.00000000 NS USD 17147173.12000000 0.915453052387 Long EC CORP US N 1 N N N HubSpot, Inc. 529900BLNVEW0MVKJB37 HubSpot, Inc. 443573100 50360.00000000 NS USD 26796052.40000000 1.430587292134 Long EC CORP US N 1 N N N DoubleVerify Holdings, Inc. N/A DoubleVerify Holdings, Inc. 25862V105 1200327.00000000 NS USD 46716726.84000000 2.494111996415 Long EC CORP US N 1 N N N Cava Group, Inc. N/A Cava Group, Inc. 148929102 55569.00000000 NS USD 2275550.55000000 0.121487062752 Long EC CORP US N 1 N N N Procore Technologies, Inc. 5493005PTWY0RHYRAH22 Procore Technologies, Inc. 74275K108 111604.00000000 NS USD 7262072.28000000 0.387707419109 Long EC CORP US N 1 N N N Ascendis Pharma A/S 549300B66JN3W3J8GH73 Ascendis Pharma A/S 04351P101 664629.00000000 NS USD 59318138.25000000 3.166875982580 Long EC CORP DK N 1 N N N Ceridian HCM Holding, Inc. 549300T64GVCHFJ8L449 Ceridian HCM Holding, Inc. 15677J108 505409.00000000 NS USD 33847240.73000000 1.807036041702 Long EC CORP US N 1 N N N HashiCorp, Inc. 549300XGOB9ZFQHMIP56 HashiCorp, Inc., Class A 418100103 461488.00000000 NS USD 12081755.84000000 0.645020621447 Long EC CORP US N 1 N N N Global-e Online Ltd. N/A Global-e Online Ltd. N/A 453012.00000000 NS USD 18546311.28000000 0.990150222020 Long EC CORP IL N 1 N N N Bentley Systems, Inc. 549300WVEHPGE0Z56F71 Bentley Systems, Inc., Class B 08265T208 748802.00000000 NS USD 40607532.46000000 2.167954407426 Long EC CORP US N 1 N N N Penumbra, Inc. 549300RGE06P3ECANU72 Penumbra, Inc. 70975L107 43975.00000000 NS USD 15130038.50000000 0.807762295897 Long EC CORP US N 1 N N N Allegro MicroSystems, Inc. N/A Allegro MicroSystems, Inc. 01749D105 930613.00000000 NS USD 42007870.82000000 2.242715653322 Long EC CORP US N 1 N N N Wingstop, Inc. 549300SSH3F8HPIM3Q47 Wingstop, Inc. 974155103 357034.00000000 NS USD 71463925.44000000 3.815315108896 Long EC CORP US N 1 N N N Shockwave Medical, Inc. 549300LDXO56IC5Y1538 Shockwave Medical, Inc. 82489T104 311456.00000000 NS USD 88892656.96000000 4.745799997429 Long EC CORP US N 1 N N N Duolingo, Inc. N/A Duolingo, Inc. 26603R106 89966.00000000 NS USD 12859740.04000000 0.686555631656 Long EC CORP US N 1 N N N Guidewire Software, Inc. 549300WXSG0J8IXZCK32 Guidewire Software, Inc. 40171V100 757981.00000000 NS USD 57667194.48000000 3.078735418361 Long EC CORP US N 1 N N N Trex Co., Inc. N/A Trex Co., Inc. 89531P105 384804.00000000 NS USD 25227750.24000000 1.346858797099 Long EC CORP US N 1 N N N MACOM Technology Solutions Holdings, Inc. N/A MACOM Technology Solutions Holdings, Inc. 55405Y100 328783.00000000 NS USD 21545149.99000000 1.150252183520 Long EC CORP US N 1 N N N Papa John's International, Inc. HZYLD3DK5XOX0WBVNB56 Papa John's International, Inc. 698813102 403248.00000000 NS USD 29771799.84000000 1.589456457215 Long EC CORP US N 1 N N N Novanta, Inc. N/A Novanta, Inc. 67000B104 381054.00000000 NS USD 70152041.40000000 3.745276261071 Long EC CORP CA N 1 N N N Blackline, Inc. 529900P9N7PK9LV5EK56 Blackline, Inc. 09239B109 893896.00000000 NS USD 48109482.72000000 2.568468428969 Long EC CORP US N 1 N N N Ambarella, Inc. 254900XN7F4DG0CEKC02 Ambarella, Inc. N/A 135353.00000000 NS USD 11324985.51000000 0.604618177049 Long EC CORP KY N 1 N N N Avid Bioservices, Inc. 549300GRUS3ZMGP8MX22 Avid Bioservices, Inc. 05368M106 808747.00000000 NS USD 11298195.59000000 0.603187917153 Long EC CORP US N 1 N N N Sprout Social, Inc. N/A Sprout Social, Inc., Class A 85209W109 220487.00000000 NS USD 10177679.92000000 0.543365841341 Long EC CORP US N 1 N N N Paycor HCM, Inc. N/A Paycor HCM, Inc. 70435P102 711550.00000000 NS USD 16842388.50000000 0.899181215114 Long EC CORP US N 1 N N N Halozyme Therapeutics, Inc. 529900242I3SV9AGM753 Halozyme Therapeutics, Inc. 40637H109 2642037.00000000 NS USD 95298274.59000000 5.087783026980 Long EC CORP US N 1 N N N iRhythm Technologies, Inc. 549300FJI72RJGDQS384 iRhythm Technologies, Inc. 450056106 258497.00000000 NS USD 26966407.04000000 1.439682183408 Long EC CORP US N 1 N N N Smartsheet, Inc. 549300N9WF42OK9VL589 Smartsheet, Inc., Class A 83200N103 222699.00000000 NS USD 8520463.74000000 0.454890405779 Long EC CORP US N 1 N N N Etsy, Inc. 54930089Q7XT501AEA40 Etsy, Inc. 29786A106 178345.00000000 NS USD 15089770.45000000 0.805612465774 Long EC CORP US N 1 N N N Tyler Technologies, Inc. 25490040SMU4Z8LBCW70 Tyler Technologies, Inc. 902252105 118112.00000000 NS USD 49190104.64000000 2.626160657782 Long EC CORP US N 1 N N N Denali Therapeutics, Inc. 549300ZTQ2HO18L3Q830 Denali Therapeutics, Inc. 24823R105 225590.00000000 NS USD 6657160.90000000 0.355412418332 Long EC CORP US N 1 N N N Rambus, Inc. 2549000211GDCQSLV833 Rambus, Inc. 750917106 69896.00000000 NS USD 4485226.32000000 0.239457203619 Long EC CORP US N 1 N N N Veracyte, Inc. 529900ESWZRHXOW27Z37 Veracyte, Inc. 92337F107 1925692.00000000 NS USD 49047375.24000000 2.618540622457 Long EC CORP US N 1 N N N Envista Holdings Corp. 549300BX623VURJZ5269 Envista Holdings Corp. 29415F104 403403.00000000 NS USD 13651157.52000000 0.728807817641 Long EC CORP US N 1 N N N Valmont Industries, Inc. 5493009ZGZJJ8F77JN08 Valmont Industries, Inc. 920253101 271909.00000000 NS USD 79139114.45000000 4.225077998539 Long EC CORP US N 1 N N N Olo, Inc. N/A Olo, Inc., Class A 68134L109 1131919.00000000 NS USD 7312196.74000000 0.390383463119 Long EC CORP US N 1 N N N Monolithic Power Systems, Inc. 529900TB7O85LSZ1XU31 Monolithic Power Systems, Inc. 609839105 144803.00000000 NS USD 78226924.69000000 4.176378023662 Long EC CORP US N 1 N N N 2023-07-31 Artisan Partners Funds Inc. Shannon K. Jagodinski Shannon K. Jagodinski Chief Financial Officer, Vice President and Treasurer XXXX NPORT-EX 2 d541991d8k.htm HTML

ARTISAN PARTNERS FUNDS, INC

DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES

Schedules of Investments

Investment Footnotes

 

*

Non-income producing security

#

Percentages for the various classifications relate to total net assets

^

Amount rounds to less than $1 or 0.1%

One contract is equal to 100 shares.

Company names are as reported by a data service provider and in some cases are translations; a company’s legal name may be different.

Investment abbreviations

 

ADR    American Depositary Receipt
BA    Bankers Acceptance Rate
BUBOR    Budapest Interbank Offered Rate
CDI    Certificate of Interbank Deposit
CITI    Citibank, N.A.
CLICP    Chile Indice de Camara Promedio Interbank Overnight Index
ETF    Exchange Traded Fund
EURIBOR    Euro Interbank Offered Rate
GDR    Global Depositary Receipt
GS    Goldman Sachs International
ICE    Intercontinental Exchange
JPM    JPMorganChase Bank, N.A.
KLIBOR    Kuala Lumpur Interbank Offered Rate
LIBOR    London Interbank Offered Rate
MIBOR    Mumbai Interbank Offered Rate
PIK    Payment-In-Kind
Preference    A special type of equity investment that shares in the earnings of the company and may have a dividend preference. Preference shares may also have liquidation preference.
PRIBOR    Prague Interbank Offered Rate
REIT    Real Estate Investment Trust
SCB    Standard Chartered Bank
SOFR    Secured Overnight Financing Rate
SPDR    Standard & Poor’s Depository Receipts
TIIE    Mexican Interbank Equilibrium Interest Rate
THOR    Thai Overnight Repurchase Rate
TONAR    Tokyo Overnight Average Rate
UBS AG    Union Bank of Switzerland
WIBOR    Warsaw Interbank Offer Rate

Currency abbreviations

 

AED    United Arab Emirates dirham
AUD    Australian dollar
BRL    Brazilian real
CAD    Canadian dollar
CHF    Swiss franc
CLP    Chilean peso
CNY    Chinese yuan
CZK    Czech koruna
DKK    Danish krone
DOP    Dominican peso
EUR    Euro
GBP    British pound
GEL    Georgian lari
HKD    Hong Kong dollar
HUF    Hungarian forint
IDR    Indonesian rupiah
ILS    Israel new shekel
INR    Indian rupee
ISK    Iceland krona
JPY    Japanese yen
KES    Kenyan shilling
KRW    Korean won
KZT    Kazakhstan tenge
MXN    Mexican peso
MYR    Malaysia ringgit
NGN    Nigerian naira
NOK    Norwegian krone
PEN    Peruvian nuevo sol
PLN    Polish zloty
RON    Romanian leu
RSD    Serbian dinar
RUB    Russian ruble
SEK    Swedish krona
SGD    Singapore dollar
THB    Thailand baht
TWD    New Taiwan dollar
UGX    Ugandan shilling
USD    U.S. dollar
UYU    Uruguayan peso
UZS    Uzbekistani som
VND    Vietnamese dong
ZAR    South African rand
 


Artisan Developing World Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 97.8%

     

Brazil - 8.6%

     

MercadoLibre, Inc. *

     173      $ 205,321  

NU Holdings Ltd., Class A *

     8,042        63,449  
     

 

 

 
        268,770  
     

 

 

 

China - 20.0%

     

Bilibili, Inc., ADR *

     3,204        48,373  

JD Health International, Inc. *(1)(2)

     9,847        62,423  

Kanzhun Ltd., ADR *

     2,344        35,281  

KE Holdings, Inc., ADR *

     6,143        91,220  

Kweichow Moutai Co. Ltd., Class A(1)

     380        88,642  

Meituan, Class B *(1)(2)

     7,180        112,858  

Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A(1)

     1,401        57,813  

Tencent Holdings Ltd.(1)

     1,047        44,563  

Wuxi Biologics Cayman, Inc. *(1)(2)

     12,848        61,906  

Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A(1)

     572        22,659  
     

 

 

 
        625,738  
     

 

 

 

France - 5.5%

     

Hermes International(1)

     17        36,254  

LVMH Moet Hennessy Louis Vuitton SE(1)

     107        100,745  

Sartorius Stedim Biotech(1)

     144        35,966  
     

 

 

 
        172,965  
     

 

 

 

India - 5.3%

     

Apollo Hospitals Enterprise Ltd.(1)

     1,081        67,257  

HDFC Bank Ltd., ADR

     1,425        99,353  
     

 

 

 
        166,610  
     

 

 

 

Netherlands - 7.8%

     

Adyen NV *(1)(2)

     83        143,778  

ASML Holding NV, ADR

     137        99,149  
     

 

 

 
        242,927  
     

 

 

 

Singapore - 6.9%

     

Grab Holdings Ltd., Class A *

     10,105        34,660  

Sea Ltd., ADR *

     3,114        180,758  
     

 

 

 
        215,418  
     

 

 

 

United States - 43.7%

     

Airbnb, Inc., Class A *

     1,595        204,455  

Align Technology, Inc. *

     192        68,023  

Coca-Cola Co. (The)

     591        35,582  

Crowdstrike Holdings, Inc., Class A *

     986        144,774  

Datadog, Inc., Class A *

     368        36,197  

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

     505        99,223  

Mastercard, Inc., Class A

     93        36,425  

Netflix, Inc. *

     214        94,268  

NVIDIA Corp.

     471        199,340  

Snap, Inc., Class A *

     6,977        82,610  

Snowflake, Inc., Class A *

     387        68,176  

Unity Software, Inc. *

     1,259        54,685  

Veeva Systems, Inc., Class A *

     445        87,975  

Visa, Inc., Class A

     659        156,483  
     

 

 

 
        1,368,216  
     

 

 

 

Total common stocks (Cost $2,064,735)

        3,060,644  
     

 

 

 

SHORT-TERM INVESTMENT - 0.5%

     

INVESTMENT COMPANY - 0.5%

     

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $16,019)

     16,019        16,019  
     

 

 

 

Total investments - 98.3% (Cost $2,080,754)

        3,076,663  

Other assets less liabilities - 1.7%

        54,178  
     

 

 

 

Total net assets - 100.0%#

      $ 3,130,841  
     

 

 

 


Artisan Developing World Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $834,864, or 26.7% of total net assets. See notes (B) and (C) in the accompanying notes.

(2) 

Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $380,965 or 12.2% of net assets.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 485,853        15.8

Consumer Discretionary

     659,633        21.4  

Consumer Staples

     285,870        9.3  

Financials

     499,488        16.2  

Health Care

     401,599        13.1  

Industrials

     34,660        1.1  

Information Technology

     602,321        19.6  

Real Estate

     91,220        3.0  

Short-Term Investment

     16,019        0.5  
  

 

 

    

 

 

 

Total investments

   $ 3,076,663        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CNY

   $ 169,114        5.5

EUR

     316,743        10.3  

HKD

     281,750        9.1  

INR

     67,257        2.2  

USD

     2,241,799        72.9  
  

 

 

    

 

 

 

Total investments

   $ 3,076,663        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Emerging Markets Debt Opportunities Fund

Consolidated Schedule of Investments

June 30, 2023 (Unaudited)

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

 

     Principal
Amount
     Value  

SOVEREIGN GOVERNMENT BONDS - 54.1%

     

Albania - 1.5%

     

Republic of Albania 5.90%, 6/9/2028(1)

   EUR 470      $ 501  
     

 

 

 

Angola - 2.7%

     

Republic of Angola

     

(ICE LIBOR USD 6 Month + 7.50%), 12.77%, 7/3/2023(1)(2)

   $ 229        229  

6.93%, 2/19/2027(1)

     166        153  

8.25%, 5/9/2028(1)

     250        221  

9.13%, 11/26/2049(1)

     350        270  
     

 

 

 
        873  
     

 

 

 

Bahamas - 2.2%

     

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

     740        720  
     

 

 

 

Benin - 2.3%

     

Benin Government Bond 4.88%, 1/19/2032(1)

   EUR 930        767  
     

 

 

 

Cameroon - 4.0%

     

Republic of Cameroon 9.50%, 11/19/2025(1)

     1,380        1,317  
     

 

 

 

Egypt - 1.6%

     

Arab Republic of Egypt 7.50%, 2/16/2061(1)

     1,030        514  
     

 

 

 

Indonesia - 5.1%

     

Republic of Indonesia

     

6.38%, 4/15/2032

   IDR 4,100,000        274  

8.25%, 5/15/2036

   IDR 9,854,000        756  

7.13%, 6/15/2042

   IDR 9,400,000        655  
     

 

 

 
        1,685  
     

 

 

 

Iraq - 3.7%

     

Republic of Iraq 5.80%, 1/15/2028(1)

     1,309        1,202  
     

 

 

 

Ivory Coast - 1.2%

     

Republic of Cote d’Ivoire

     

5.25%, 3/22/2030(1)

   EUR 445        409  
     

 

 

 

Kenya - 2.1%

     

Republic of Kenya

     

6.88%, 6/24/2024(1)

     530        503  

7.00%, 5/22/2027(1)

     200        180  
     

 

 

 
        683  
     

 

 

 

Macedonia - 3.9%

     

Republic of North Macedonia

     

5.63%, 7/26/2023(1)

   EUR 748        816  

6.96%, 3/13/2027(1)

   EUR 340        378  

1.63%, 3/10/2028(1)

   EUR 100        88  
     

 

 

 
        1,282  
     

 

 

 

Nigeria - 2.7%

     

Federal Republic of Nigeria

     

7.63%, 11/21/2025(3)

     281        268  

8.75%, 1/21/2031(1)

     390        349  

9.25%, 1/21/2049(1)

     232        192  

8.25%, 9/28/2051(1)

     125        93  
     

 

 

 
        902  
     

 

 

 

Papua New Guinea - 1.6%

     

Papua New Guinea Government International Bond 8.38%, 10/4/2028(1)

     575        534  
     

 

 

 

Peru - 4.8%

     

Bonos de la Tesoreria 6.15%, 8/12/2032

   PEN 6,050        1,592  
     

 

 

 

Romania - 3.7%

     

Romania Government Bond

     

8.75%, 10/30/2028

   RON 1,060        253  

3.62%, 5/26/2030(1)

   EUR 360        344  

2.12%, 7/16/2031(1)

   EUR 150        124  

Series 10Y, 8.25%, 9/29/2032

   RON 1,310        315  

4.63%, 4/3/2049(1)

   EUR 200        168  
     

 

 

 
        1,204  
     

 

 

 

Rwanda - 0.5%

     

Republic of Rwanda 5.50%, 8/9/2031(1)

     225        169  
     

 

 

 

Senegal - 0.6%

     

Republic of Senegal 6.25%, 7/30/2024(1)

     200        196  
     

 

 

 

Serbia - 6.5%

     

Republic of Serbia

     

1.50%, 6/26/2029(1)

   EUR 195        164  

4.50%, 8/20/2032

   RSD 108,000        883  

1.65%, 3/3/2033(1)

   EUR 300        218  

2.05%, 9/23/2036(1)

   EUR 1,310        875  
     

 

 

 
        2,140  
     

 

 

 

Tajikistan - 0.8%

     

Republic of Tajikistan 7.13%, 9/14/2027(1)

     340        279  
     

 

 

 

Uzbekistan - 2.6%

     

Republic of Uzbekistan 14.50%, 11/25/2023(1)

   UZS 10,000,000        862  
     

 

 

 

Total sovereign government bonds (Cost $17,364)

        17,831  
     

 

 

 

CORPORATE BONDS - 15.9%

     

Brazil - 0.8%

     

MC Brazil Downstream Trading SARL 7.25%, 6/30/2031(1)

     290        195  

Unigel Luxembourg SA 8.75%, 10/1/2026(1)

     253        83  
     

 

 

 
        278  
     

 

 

 

Colombia - 2.6%

     

Aris Mining Corp. 6.88%, 8/9/2026(1)

     477        349  

EnfraGen Energia Sur SA 5.38%, 12/30/2030(1)

     400        260  


Artisan Emerging Markets Debt Opportunities Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

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

 

Gran Tierra Energy International Holdings Ltd. 6.25%, 2/15/2025(1)

     275       236  
    

 

 

 
       845  
    

 

 

 

Czech Republic - 1.0%

    

Energo-Pro A/S

    

4.50%, 5/4/2024(1)

   EUR 100       107  

8.50%, 2/4/2027(1)

     250       237  
    

 

 

 
       344  
    

 

 

 

Dominican Republic - 4.8%

    

Banco Central de la Republica Dominicana 13.00%, 12/5/2025(1)

   DOP 81,900       1,595  
    

 

 

 

Georgia - 0.7%

    

Georgia Capital JSC 6.13%, 3/9/2024(1)

     225       221  
    

 

 

 

Mexico - 0.8%

    

Petroleos Mexicanos 6.95%, 1/28/2060

     430       268  
    

 

 

 

Nigeria - 1.2%

    

SEPLAT Energy plc 7.75%, 4/1/2026(1)

     485       404  
    

 

 

 

Peru - 2.6%

    

Auna SAA 6.50%, 11/20/2025(1)

     500       413  

Inkia Energy Ltd. 5.88%, 11/9/2027(1)

     457       434  
    

 

 

 
       847  
    

 

 

 

Romania - 0.7%

    

Banca Transilvania SA (EURIBOR ICE Swap Rate 1 Year + 5.58%), 8.88%, 4/27/2027(1)(2)

   EUR 200       224  
    

 

 

 

Tanzania - 0.7%

    

HTA Group Ltd. 7.00%, 12/18/2025(3)

     240       227  
    

 

 

 

Total corporate bonds (Cost $5,321)

       5,253  
    

 

 

 

SHORT-TERM INVESTMENTS - 25.6%

    

SOVEREIGN GOVERNMENT TREASURY BILLS - 3.8%

    

Banco Central del Uruguay

    

11.04%, 2/2/2024(4)

   UYU 3,050       76  

10.66%, 3/1/2024(4)

   UYU 34,281       853  

11.03%, 5/3/2024(4)

   UYU 12,300       300  
    

 

 

 

Total sovereign government treasury bills (Cost $1,186)

       1,229  
    

 

 

 

U.S. TREASURY OBLIGATIONS - 19.2%

    

U.S. Treasury Bills

    

1.96%, 7/5/2023(4)

     830       830  

4.19%, 7/18/2023(4)

     1,600       1,597  

4.61%, 8/1/2023(4)

     3,900       3,884  
    

 

 

 

Total U.S. treasury obligations (Cost $6,309)

       6,311  
    

 

 

 

REPURCHASE AGREEMENT - 0.8%

    

JPMorgan Chase Bank, N.A., Dated 5/3/23, with an interest rate of 4.50% payable by the Portfolio, collateralized by Par 275 Petroleos Mexicanos, 6.88% due 10/16/2025 and a market value of $265(5) (Cost $279)

     279       279  
    

 

 

 
     Shares Held        

INVESTMENT COMPANIES - 1.8%

    

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97%

     207       207  

Federated Treasury Obligations Fund - Institutional Class, 4.96%

     201       201  

Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 5.03%

     201       201  
    

 

 

 

Total investment companies (Cost $609)

       609  
    

 

 

 

Total short-term investments (Cost $8,383)

       8,428  
    

 

 

 

Total investments - 95.6% (Cost $31,068)

       31,512  
    

 

 

 
     Principal
Amount
       

SECURITY SOLD SHORT - (0.8)%

    

CORPORATE BOND - (0.8)%

    

Mexico - (0.8)%

    

Petroleos Mexicanos 6.88%, 10/16/2025(6) (Proceeds $(269))

   $ (275     (265
    

 

 

 

Total investments after security sold short - 94.8% (Cost $30,799)

       31,247  

Other assets less liabilities - 5.2%

       1,705  
    

 

 

 

Total net assets - 100.0%#

     $ 32,952  
    

 

 

 


Artisan Emerging Markets Debt Opportunities Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $17,593 or 53.4% of net assets.

(2) 

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2023.

(3) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers.

(4) 

Yield to maturity.

(5) 

Open repurchase agreement with no specific maturity date. Either party may terminate the agreement upon demand.

(6) 

At June 30, 2023, all or a portion of this security was pledged to cover collateral requirements for repurchase agreements.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Energy

   $ 1,447        4.6

Financials

     2,040        6.5  

Foreign Government Securities

     17,831        56.6  

Health Care

     413        1.3  

Industrials

     227        0.7  

Materials

     432        1.4  

Utilities

     694        2.2  

Short-Term Investments

     8,428        26.7  
  

 

 

    

 

 

 

Total investments

   $ 31,512        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

DOP

   $ 1,595        5.1

EUR

     5,183        16.4  

IDR

     1,685        5.3  

PEN

     1,592        5.1  

RON

     568        1.8  

RSD

     883        2.8  

USD

     17,915        56.9  

UYU

     1,229        3.9  

UZS

     862        2.7  
  

 

 

    

 

 

 

Total investments

   $ 31,512        100.0
  

 

 

    

 

 

 


Artisan Emerging Markets Debt Opportunities Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

FOREIGN CURRENCY FORWARD CONTRACTS

Values in thousands

 

Currency Purchased

     Currency Sold      Counterparty    Settlement
Date
     Unrealized
Appreciation
(Depreciation)
 

EUR

     2,342        HUF       869,934      SCB      7/3/2023      $ 8  

HUF

     869,934        EUR       2,226      SCB      7/3/2023        119  

KZT**

     912,790        USD       2,019      SCB      7/3/2023        5  

USD

     210        NGN       110,000      SCB      7/5/2023        66  

PLN

     2,690        EUR       603      SCB      7/10/2023        4  

RON

     2,206        USD       484      JPM      7/10/2023        1  

USD

     719        RON       3,209      JPM      7/10/2023        13  

PEN**

     2,050        USD       553      CITI      7/11/2023        12  

UZS**

     5,900,000        USD       506      CITI      7/17/2023        6  

UZS**

     3,650,000        USD       308      CITI      7/17/2023        9  

KZT**

     18,300        USD       40      SCB      7/18/2023        1  

USD

     46        KES **      6,200      SCB      7/20/2023        2  

CZK

     19,300        EUR       809      SCB      7/24/2023        1  

KZT**

     912,790        USD       1,991      CITI      7/31/2023        17  

USD

     450        ZAR       8,256      JPM      8/8/2023        13  

ZAR

     8,163        USD       431      JPM      8/8/2023        2  

USD

     281        IDR **      4,200,000      CITI      8/22/2023        2  

IDR**

     2,300,000        USD       150      CITI      9/6/2023        3  

EUR

     968        USD       1,060      SCB      9/20/2023        1  

USD

     7,247        EUR       6,610      SCB      9/20/2023        5  

UZS**

     3,650,000        USD       299      CITI      10/17/2023        14  

UZS**

     567,859        USD       48      CITI      11/2/2023        —  

USD

     162        KES **      23,300      SCB      12/6/2023        3  
                

 

 

 

Total unrealized appreciation

        307  
                

 

 

 

USD

     2,007        KZT **      912,790      CITI      7/3/2023        (17

NGN

     110,000        USD       213      SCB      7/5/2023        (69

THB

     10,290        USD       305      SCB      7/6/2023        (15

USD

     306        RON       1,406      JPM      7/10/2023        (3

USD

     884        PEN **      3,262      CITI      7/11/2023        (15

UZS**

     1,300,000        USD       113      SCB      7/17/2023        —  

KES**

     6,200        USD       48      JPM      7/20/2023        (4

CZK

     2,300        EUR       97      SCB      7/24/2023        —  

HUF

     911,034        EUR       2,429      SCB      8/3/2023        (9

USD

     182        EUR       167      SCB      9/20/2023        —  

THB

     10,290        USD       294      SCB      10/5/2023        (1

USD

     479        UZS **      5,700,000      CITI      10/17/2023        (11

USD

     324        IDR **      4,883,621      CITI      12/4/2023        —  

KES**

     123,000        USD       901      SCB      12/6/2023        (58

USD

     637        KES **      99,700      SCB      12/6/2023        (46
                

 

 

 

Total unrealized depreciation

        (248
                

 

 

 

Net unrealized appreciation

      $ 59  
                

 

 

 

 

** 

Non-deliverable.


Artisan Emerging Markets Debt Opportunities Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

FUTURES CONTRACTS

Values in thousands

Description

   No. of
Contracts
    Expiration
Date
     Trading
Currency
     Notional
Amount
    Notional
Value
    Unrealized
Appreciation/
(Depreciation)
 

Short Positions Contracts

 

 

Euro-Bobl

     (19     9/7/2023        EUR      $ (1,900   $ (2,399   $ 33  

Euro-Bund

     (15     9/7/2023        EUR        (1,500     (2,189     11  

Euro-Schatz

     (1     9/7/2023        EUR        (100     (114     1  

U.S. Treasury 2 Year Note

     (26     9/29/2023        USD        (5,200     (5,287     59  

U.S. Treasury 5 Year Note

     (9     9/29/2023        USD        (900     (964     12  

U.S. Treasury 10 Year Note

     (9     9/20/2023        USD        (900     (1,010     13  

U.S. Treasury 10 Year Ultra Note

     (8     9/20/2023        USD        (800     (948     7  

U.S. Treasury Long Bond

     (1     9/20/2023        USD        (100     (127     (1
              

 

 

 

Net unrealized appreciation

 

            $ 135  
           

 

 

 

CENTRALLY CLEARED CREDIT DEFAULT SWAP - SELL PROTECTION

Values in thousands

 

Reference Entity

   Financing Rate (Paid) /
Received by the Fund

(%)
     Frequency of Payments
Made/Received
   Termination
Date
     Notional
Amount
     Upfront
(Payments)
Receipts
     Unrealized
Appreciation
(Depreciation)
     Value  

Republic of South Africa

     1.00      Quarterly      6/20/2024      USD  275        —  ^        —  ^        —  ^  
              

 

 

    

 

 

    

 

 

 

Total

 

     —  ^        —  ^        —  ^  
  

 

 

    

 

 

    

 

 

 

CENTRALLY CLEARED INTEREST RATE SWAPS

Values in thousands

 

Floating Rate Index (Frequency)

  Fixed Rate (%)
(Frequency)
    Fund Pays/
Receives
Floating Rate
  Termination
Date
    Notional
Amount
    Upfront Payments
(Receipts)
($)
    Unrealized
Appreciation
(Depreciation)
($)
    Value ($)  

4 week TIIE monthly

    8.65 monthly     Pay     5/17/2032     MXN 5,490       —         11       11  

4 week TIIE monthly

    8.72 monthly     Pay     9/1/2032     MXN 22,700       3       49       52  

1 day CLICP semi-annually

    7.86 semi-annually     Pay     4/27/2025     CLP  2,010,200       2       28       30  

1 day CLICP semi-annually

    5.16 semi-annually     Receive     4/27/2033     CLP 469,000       (2     3       1  

1 day CDI at termination

    10.94 at termination     Pay     1/2/2026     BRL 9,800       4       34       38  
         

 

 

   

 

 

   

 

 

 

Total unrealized appreciation

 

          7       125       132  
       

 

 

   

 

 

   

 

 

 

4 week TIIE monthly

    9.87 monthly     Pay     3/21/2025     MXN 109,800       (8     (12     (20

1 day MIBOR semi-annually

    6.19 semi-annually     Pay     5/26/2033     INR 51,000       —         (10     (10
         

 

 

   

 

 

   

 

 

 

Total unrealized depreciation

 

          (8     (22     (30
       

 

 

   

 

 

   

 

 

 

Total

 

      (1     103       102  
   

 

 

   

 

 

   

 

 

 


Artisan Emerging Markets Debt Opportunities Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

OTC CREDIT DEFAULT SWAP - SELL PROTECTION

Values in thousands

 

Reference Entity

   Financing Rate (Paid) /
Received by the Fund

(%)
     Frequency of Payments
Made/Received
     Counterparty      Maturity
Date
     Notional
Amount
     Upfront
(Payments)
Receipts
     Unrealized
Appreciation
(Depreciation)
     Value  

Republic of South Africa

     1.00        Quarterly        CITI        6/20/2024      USD  260        —  ^        —  ^        —  ^  
                 

 

 

    

 

 

    

 

 

 

Total

                    —  ^        —  ^        —  ^  
                 

 

 

    

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Floating Rate Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Principal amount, shares and dollar values in thousands

 

     Principal
Amount
     Value  

BANK LOANS - 84.4%

     

Aerospace & Defense - 1.4%

     

Jazz Acquisition, Inc. First Lien Term Loan (SOFR + 4.00%), 9.20%, 6/19/2026(1)

   $ 633      $ 632  
     

 

 

 

Automobile Components - 0.5%

     

Wheel Pros, Inc. First Lien Term Loan (ICE LIBOR USD 3 Month + 4.50%), 9.77%, 5/11/2028(1)

     341        226  
     

 

 

 

Building Products - 0.8%

     

CP Atlas Buyer, Inc. Term Loan B (SOFR + 3.75%), 8.95%, 11/23/2027(1)

     408        383  
     

 

 

 

Capital Markets - 2.6%

     

Edelman Financial Engines Center LLC Second Lien Term Loan (ICE LIBOR USD 1 Month + 6.75%), 11.94%, 7/20/2026(1)

     1,250        1,204  
     

 

 

 

Chemicals - 0.9%

     

Iris Holding, Inc. First Lien Term Loan

     

(SOFR + 4.75%), 9.90%, 6/28/2028(1)

     496        418  
     

 

 

 

Commercial Services - 6.0%

     

Digital Room Holdings, Inc. First Lien Term Loan (SOFR + 5.25%), 10.45%, 12/21/2028(1)

     573        513  

Employbridge Holding Co. Term Loan B

     

(SOFR + 4.75%), 10.26%, 7/19/2028(1)

     1,480        1,189  

(SOFR + 4.75%), 10.29%, 7/19/2028(1)

     8        6  

National Intergovernmental Purchasing Alliance Co. First Lien Term Loan (SOFR + 3.50%),
8.40%, 5/23/2025(1)

     362        359  

National Intergovernmental Purchasing Alliance Co. Second Lien Term Loan (SOFR + 7.50%),
12.40%, 5/26/2026(1)

     315        293  

New SK Holdco Sub LLC Term Loan (SOFR + 8.25%), 13.43%, 6/30/2027(1)

     499        430  
     

 

 

 
        2,790  
     

 

 

 

Commercial Services & Supplies - 3.6%

     

Neptune BidCo US, Inc. First Lien Term Loan B (SOFR + 5.00%), 9.99%, 4/11/2029(1)

     1,152        1,011  

Spin Holdco, Inc. Term Loan (ICE LIBOR USD 3 Month + 4.00%), 9.23%, 3/4/2028(1)

     746        637  
     

 

 

 
        1,648  
     

 

 

 

Communications Equipment - 2.1%

     

Delta Topco, Inc. First Lien Term Loan (SOFR + 3.75%), 9.07%, 12/1/2027(1)

     997        964  

Delta Topco, Inc. Second Lien Term Loan (SOFR + 7.25%), 12.57%, 12/1/2028(1)

     25        23  
     

 

 

 
        987  
     

 

 

 

Construction & Engineering - 2.7%

     

CD&R Hydra Buyer, Inc. Term Loan (SOFR + 4.25%), 9.45%, 12/11/2024(1)

     1,225        1,217  
     

 

 

 

Diversified Consumer Services - 2.1%

     

KUEHG Corp. First Lien Term Loan (SOFR + 5.00%), 10.15%, 5/23/2030(1)

     950        939  
     

 

 

 

Diversified Telecommunication Services - 0.3%

     

Zayo Group Holdings, Inc. Term Loan (SOFR + 3.00%), 8.22%, 3/9/2027(1)

     173        135  
     

 

 

 

Electrical Equipment - 0.6%

     

Indicor LLC First Lien Term Loan (SOFR + 4.50%), 9.74%, 11/22/2029(1)

     284        283  
     

 

 

 

Financial Services - 1.6%

     

Trans Union LLC Term Loan B5 (SOFR + 1.75%), 6.95%, 11/16/2026(1)

     739        736  
     

 

 

 

Food - 1.2%

     

Chefs’ Warehouse, Inc. Term Loan (SOFR + 4.75%), 9.95%, 8/23/2029(1)

     545        543  
     

 

 

 

Food Products - 3.2%

     

B&G Foods, Inc. Term Loan B4 (SOFR + 2.50%), 7.65%, 10/10/2026(1)

     1,079        1,055  

H-Food Holdings LLC Term Loan (SOFR + 3.69%), 9.27%, 5/23/2025(1)

     272        239  

H-Food Holdings LLC Term Loan B2 (SOFR + 4.00%), 9.58%, 5/23/2025(1)

     73        64  

H-Food Holdings LLC Term Loan B3 (SOFR + 5.00%), 10.58%, 5/23/2025(1)

     11        10  

Shearer’s Foods LLC First Lien Term Loan (SOFR + 3.50%), 8.72%, 9/23/2027(1)

     118        116  
     

 

 

 
        1,484  
     

 

 

 


Artisan Floating Rate Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

Principal amount, shares and dollar values in thousands

 

Food Service - 2.6%

     

TKC Holdings, Inc. Term Loan (ICE LIBOR USD 1 Month + 5.50%), 10.69%, 5/15/2028(1)

     1,201        1,114  

TKC Midco 1 LLC Term Loan 12.00% Cash, 13.50% PIK, 2/15/2027

     199        59  
     

 

 

 
        1,173  
     

 

 

 

Health Care Equipment & Supplies - 3.5%

     

Fortrea Holdings, Inc. Term Loan B (SOFR + 3.50%), 8.99%, 7/1/2030(1)

     143        143  

GHX Ultimate Parent Corp. Term Loan (SOFR + 4.75%), 9.79%, 6/30/2027(1)

     196        196  

Medline Borrower LP Term Loan (SOFR + 3.25%), 8.35%, 10/23/2028(1)

     1,249        1,233  
     

 

 

 
        1,572  
     

 

 

 

Health Care Providers & Services - 1.4%

     

CVET Midco 2 LP First Lien Term Loan (SOFR + 5.00%), 10.24%, 10/13/2029(1)

     499        463  

Surgery Center Holdings, Inc. Term Loan (SOFR + 3.75%), 8.90%, 8/31/2026(1)

     183        183  
     

 

 

 
        646  
     

 

 

 

Insurance - 10.8%

     

Acrisure LLC First Lien Term Loan (ICE LIBOR USD 1 Month + 4.25%), 9.44%, 2/15/2027(1)

     231        226  

Amynta Agency Borrower, Inc. First Lien Term Loan (SOFR + 5.00%), 10.20%, 2/28/2028(1)

     1,500        1,456  

AssuredPartners, Inc. Term Loan (SOFR + 3.50%), 8.60%, 2/12/2027(1)

     763        755  

BroadStreet Partners, Inc. Term Loan (SOFR + 2.75%), 7.97%, 1/27/2027(1)

     1,131        1,115  

Hub International Ltd. Term Loan

     

(SOFR + 4.00%), 9.07%, 11/10/2029(1)

     498        497  

(SOFR + 4.25%), 9.34%, 6/20/2030(1)

     98        98  

USI, Inc. Term Loan (SOFR + 3.75%), 8.99%, 11/22/2029(1)

     798        796  
     

 

 

 
        4,943  
     

 

 

 

Investment Companies - 4.5%

     

Nexus Buyer LLC First Lien Term Loan (SOFR + 3.75%), 8.95%, 11/9/2026(1)

     995        958  

Nexus Buyer LLC Second Lien Term Loan (SOFR + 6.25%), 11.45%, 11/5/2029(1)

     1,211        1,079  
     

 

 

 
        2,037  
     

 

 

 

IT Services - 1.7%

     

Arches Buyer, Inc. Term Loan (SOFR + 3.25%), 8.45%, 12/6/2027(1)

     792        763  
     

 

 

 

Machinery - 0.7%

     

CD&R Hydra Buyer, Inc. Second Lien Term Loan (SOFR + 8.00%), 13.20%, 4/30/2026(1)

     333        313  
     

 

 

 

Software - 22.6%

     

Applied Systems, Inc. First Lien Term Loan (SOFR + 4.50%), 9.40%, 9/18/2026(1)

     232        232  

Applied Systems, Inc. Second Lien Term Loan (SOFR + 6.75%), 11.99%, 9/17/2027(1)

     118        118  

Central Parent, Inc. First Lien Term Loan (SOFR + 4.25%), 9.49%, 7/6/2029(1)

     498        496  

CommerceHub, Inc. First Lien Term Loan (SOFR + 4.00%), 9.22%, 12/29/2027(1)

     708        614  

CommerceHub, Inc. Second Lien Term Loan (SOFR + 7.00%), 12.22%, 12/29/2028(1)

     60        46  

Epicor Software Corp. Term Loan C (SOFR + 3.25%), 8.47%, 7/30/2027(1)

     1,044        1,030  

Matrix Parent, Inc. First Lien Term Loan (SOFR + 5.00%), 10.39%, 3/1/2029(1)

     920        602  

Orchid Merger Sub II LLC Term Loan (SOFR + 4.75%), 10.14%, 7/27/2027(1)

     797        575  

Renaissance Holdings Corp. First Lien Term Loan (SOFR + 4.75%), 9.90%, 4/5/2030(1)

     1,727        1,703  

Renaissance Holdings Corp. Second Lien Term Loan (ICE LIBOR USD 1 Month + 7.00%), 12.19%, 5/29/2026(1)

     120        117  

SS&C Technologies Holdings, Inc. Term Loan B3 (SOFR + 1.75%), 6.97%, 4/16/2025(1)

     394        394  

SS&C Technologies Holdings, Inc. Term Loan B4 (SOFR + 1.75%), 6.97%, 4/16/2025(1)

     352        351  


Artisan Floating Rate Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

Principal amount, shares and dollar values in thousands

 

UKG, Inc. First Lien Term Loan (SOFR + 3.25%), 8.27%, 5/4/2026(1)

     1,760        1,725  

UKG, Inc. Second Lien Term Loan (SOFR + 5.25%), 10.62%, 5/3/2027(1)

     985        953  

Virgin Pulse, Inc. First Lien Term Loan (SOFR + 3.75%), 8.97%, 4/6/2028(1)

     1,477        1,394  
     

 

 

 
        10,350  
     

 

 

 

Telecommunications - 4.5%

     

Gridiron Fiber Corp. First Lien Term Loan (SOFR + 4.50%), 9.86%, 10/4/2028(1)

     2,173        2,053  
     

 

 

 

Transportation - 2.5%

     

SIRVA Worldwide, Inc. First Lien Term Loan

     

(SOFR + 5.50%), 10.65%, 8/4/2025(1)

     888        794  

(SOFR + 5.50%), 10.66%, 8/4/2025(1)

     9        8  

(SOFR + 5.50%), 10.77%, 8/4/2025(1)

     200        179  

(SOFR + 5.50%), 10.98%, 8/4/2025(1)

     158        141  
     

 

 

 
        1,122  
     

 

 

 

Total bank loans (Cost $40,323)

        38,597  
     

 

 

 

CORPORATE BONDS - 7.7%

     

Banks - 1.2%

     

Goldman Sachs Capital II (ICE LIBOR USD 3 Month + 0.77%), 6.26%, 6/30/2023(1)(2)

     720        560  
     

 

 

 

Electrical Equipment - 2.1%

     

Regal Rexnord Corp. 6.30%, 2/15/2030(3)

     946        943  
     

 

 

 

Health Care Equipment & Supplies - 1.1%

     

Medline Borrower LP 3.88%, 4/1/2029(3)

     600        522  
     

 

 

 

Hotels, Restaurants & Leisure - 1.3%

     

Carnival Corp. 4.00%, 8/1/2028(3)

     648        575  
     

 

 

 

Insurance - 0.6%

     

Acrisure LLC 4.25%, 2/15/2029(3)

     320        276  
     

 

 

 

IT Services - 1.1%

     

Arches Buyer, Inc. 4.25%, 6/1/2028(3)

     585        509  
     

 

 

 

Specialty Retail - 0.3%

     

Evergreen Acqco 1 LP 9.75%, 4/26/2028(3)

     126        130  
     

 

 

 

Total corporate bonds (Cost $3,682)

        3,515  
     

 

 

 
     No. of
Warrants‡
        

WARRANTS - 0.0%

     

Financial Services - 0.0%

     

Carnelian Point Holdings LP, expiring 6/30/2027, strike price 10 (Cost $—)*(4)(5)

     1        —    
     

 

 

 
     Shares Held         

SHORT-TERM INVESTMENTS - 8.4%

     

INVESTMENT COMPANIES - 8.4%

     

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97%

     1,310        1,310  

Federated Treasury Obligations Fund - Institutional Class, 4.96%

     1,272        1,272  

Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 5.03%

     1,272        1,272  
     

 

 

 

Total short-term investments (Cost $3,854)

        3,854  
     

 

 

 

Total investments - 100.5% (Cost $47,859)

        45,966  

Other assets less liabilities - (0.5%)

        (207
     

 

 

 

Total net assets - 100.0%#

      $ 45,759  
     

 

 

 


Artisan Floating Rate Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2023.

(2) 

Perpetual security. The rate reflected was the rate in effect on June 30, 2023. The maturity date reflects the next call date.

(3) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers.

(4) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $0, or 0.0% of total net assets. See notes (B) and (C) in the accompanying notes.

(5) 

Defaulted security.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 2,188        4.8

Consumer Discretionary

     1,870        4.0  

Consumer Staples

     3,200        7.0  

Financials

     10,186        22.2  

Health Care

     2,740        5.9  

Industrials

     8,901        19.4  

Information Technology

     12,609        27.4  

Materials

     418        0.9  

Short-Term Investments

     3,854        8.4  
  

 

 

    

 

 

 

Total investments

   $ 45,966        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Focus Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 97.7%

     

Aerospace & Defense - 12.1%

     

Boeing Co. (The) *

     189      $ 39,817  

Howmet Aerospace, Inc.

     437        21,669  

Safran SA(1)(2)

     178        28,031  

TransDigm Group, Inc.

     74        66,103  
     

 

 

 
        155,620  
     

 

 

 

Capital Markets - 5.4%

     

Intercontinental Exchange, Inc.

     171        19,292  

S&P Global, Inc.

     124        49,563  
     

 

 

 
        68,855  
     

 

 

 

Chemicals - 7.5%

     

Ecolab, Inc.

     143        26,730  

Linde plc

     181        69,074  
     

 

 

 
        95,804  
     

 

 

 

Construction & Engineering - 2.5%

     

Quanta Services, Inc.

     163        32,066  
     

 

 

 

Electric Utilities - 9.9%

     

Constellation Energy Corp.

     346        31,657  

NextEra Energy, Inc.

     1,290        95,745  
     

 

 

 
        127,402  
     

 

 

 

Financial Services - 2.1%

     

Visa, Inc., Class A

     115        27,416  
     

 

 

 

Ground Transportation - 6.7%

     

Canadian Pacific Kansas City Ltd.(1)

     869        70,176  

Old Dominion Freight Line, Inc.

     43        15,789  
     

 

 

 
        85,965  
     

 

 

 

Health Care Equipment & Supplies - 4.1%

     

Dexcom, Inc. *

     259        33,244  

Intuitive Surgical, Inc. *

     57        19,593  
     

 

 

 
        52,837  
     

 

 

 

Health Care Providers & Services - 4.9%

     

UnitedHealth Group, Inc.(3)

     131        62,955  
     

 

 

 

Industrial Conglomerates - 7.4%

     

General Electric Co.

     866        95,140  
     

 

 

 

Interactive Media & Services - 1.0%

     

Meta Platforms, Inc., Class A *

     45        12,993  
     

 

 

 

IT Services - 0.7%

     

Snowflake, Inc., Class A *

     52        9,231  
     

 

 

 

Life Sciences Tools & Services - 1.0%

     

Danaher Corp.

     55        13,118  
     

 

 

 

Pharmaceuticals - 2.0%

     

Eli Lilly & Co.

     55        25,784  
     

 

 

 

Professional Services - 4.2%

     

Equifax, Inc.

     94        22,194  

Verisk Analytics, Inc.

     142        32,160  
     

 

 

 
        54,354  
     

 

 

 

Semiconductors & Semiconductor Equipment - 11.2%

     

Advanced Micro Devices, Inc. *

     115        13,052  

NVIDIA Corp.

     167        70,569  

Taiwan Semiconductor Manufacturing Co. Ltd., ADR(1)

     598        60,369  
     

 

 

 
        143,990  
     

 

 

 

Software - 11.2%

     

Microsoft Corp.

     302        103,004  

Oracle Corp.

     340        40,525  
     

 

 

 
        143,529  
     

 

 

 

Specialized REITs - 3.1%

     

Equinix, Inc.

     51        39,784  
     

 

 

 

Textiles, Apparel & Luxury Goods - 0.7%

     

NIKE, Inc., Class B

     86        9,515  
     

 

 

 

Total common stocks (Cost $1,078,800)

        1,256,358  
     

 

 

 
     No. of
Contracts
        

OPTION PURCHASED - 0.1%

     

Call Option - 0.1%

     

Aerospace & Defense - 0.1%

     

Boeing Co. (The) 9/15/2023 at USD 210.00; Notional Amount: USD 23,671

     1,121        1,407  
     

 

 

 

Total Call Option

        1,407  
     

 

 

 

Total Option Purchased (Cost $1,651)

        1,407  
     

 

 

 
     Shares Held         

SHORT-TERM INVESTMENT - 3.8%

     

INVESTMENT COMPANY - 3.8%

     

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $48,278)

     48,278        48,278  
     

 

 

 

Total investments - 101.6% (Cost $1,128,729)

        1,306,043  

WRITTEN OPTION CONTRACTS - (0.1)% (Premiums received $(1,518))

        (1,484

Other assets less liabilities - (1.5%)

        (18,784
     

 

 

 

Total net assets - 100.0% #

      $ 1,285,775  
     

 

 

 


Artisan Focus Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications.

 

Security

   Country    Trading Currency

Canadian Pacific Kansas City Ltd.

   Canada    USD

Safran SA

   France    EUR

Taiwan Semiconductor Manufacturing Co. Ltd.

   Taiwan    USD

 

(2) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $28,031, or 2.2% of total net assets. See notes (B) and (C) in the accompanying notes.

(3) 

At June 30, 2023, all or a portion of this security was pledged to cover collateral requirements for written options.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 12,993        1.0

Consumer Discretionary

     9,515        0.7  

Financials

     96,271        7.4  

Health Care

     154,695        11.9  

Industrials

     424,551        32.5  

Information Technology

     296,751        22.7  

Materials

     95,803        7.3  

Real Estate

     39,784        3.0  

Utilities

     127,402        9.8  

Short-Term Investment

     48,278        3.7  
  

 

 

    

 

 

 

Total investments

   $ 1,306,043        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

EUR

   $ 28,031        2.1

USD

     1,278,012        97.9  
  

 

 

    

 

 

 

Total investments

   $ 1,306,043        100.0
  

 

 

    

 

 

 


Artisan Focus Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

FOREIGN CURRENCY FORWARD CONTRACTS

Values in thousands

 

Currency Purchased

     Currency Sold      Counterparty    Settlement
Date
     Unrealized
Appreciation
(Depreciation)
 

CAD

     75,131        USD        55,915      JPM      7/20/2023      $ 812  

USD

     25,080        EUR        22,710      JPM      7/20/2023        279  
     

 

 

 

Total unrealized appreciation

 

           1,091  
     

 

 

 

CAD

     13,256        USD        10,037      JPM      7/20/2023        (29

USD

     122,195        CAD        165,271      JPM      7/20/2023        (2,590
                 

 

 

 

Total unrealized depreciation

        (2,619
     

 

 

 

Net unrealized depreciation

      $ (1,528
     

 

 

 

WRITTEN OPTION CONTRACTS

Dollar values in thousands except exercise price

Call Options

 

Number of

Contracts‡

    

Description

   Exercise
Price
     Notional
Amount
     Expiration
Date
     Premiums
Paid/(Received)
by Fund
     Value      Unrealized
Appreciation
 
  652      NVIDIA Corp.    $ 470.00      $ 27,581        8/18/23      $ (639    $ (623    $ 16  
  5,981      Taiwan Semiconductor Manufacturing Co. Ltd.      110.00        60,360        8/18/23        (879      (861      18  
              

 

 

    

 

 

    

 

 

 
 

Total written option contracts

     $ (1,518    $ (1,484    $ 34  
  

 

 

    

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Global Discovery Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 94.0%

 

Brazil - 1.7%

 

NU Holdings Ltd., Class A *

     560      $ 4,421  
     

 

 

 

Canada - 1.3%

 

CAE, Inc. *

     155        3,475  
     

 

 

 

China - 1.4%

 

Proya Cosmetics Co. Ltd., Class A(1)

     116        1,794  

Silergy Corp.(1)

     156        1,950  
     

 

 

 
        3,744  
     

 

 

 

Denmark - 3.2%

 

Ascendis Pharma A/S, ADR *

     44        3,960  

Vestas Wind Systems A/S *(1)

     168        4,457  
     

 

 

 
        8,417  
     

 

 

 

Finland - 1.8%

 

Metso Outotec OYJ(1)

     309        3,725  

Neste OYJ(1)

     27        1,048  
     

 

 

 
        4,773  
     

 

 

 

Germany - 4.8%

 

adidas AG(1)

     12        2,329  

Gerresheimer AG(1)

     62        7,007  

Sartorius AG (Preference)(1)

     9        3,178  
     

 

 

 
        12,514  
     

 

 

 

Hong Kong - 2.4%

 

Techtronic Industries Co. Ltd.(1)

     562        6,154  
     

 

 

 

Iceland - 0.1%

 

Marel HF(1)(2)

     84        261  
     

 

 

 

Italy - 2.4%

 

Davide Campari-Milano NV(1)

     229        3,174  

Moncler SpA(1)

     42        2,928  
     

 

 

 
        6,102  
     

 

 

 

Japan - 1.6%

 

Obic Co. Ltd.(1)

     26        4,168  
     

 

 

 

Luxembourg - 0.4%

 

Eurofins Scientific SE(1)

     18        1,148  
     

 

 

 

Netherlands - 3.7%

 

Adyen NV *(1)(2)

     1        1,862  

Argenx SE, ADR *

     20        7,639  
     

 

 

 
        9,501  
     

 

 

 

Singapore - 0.8%

 

Sea Ltd., ADR *

     33        1,935  
     

 

 

 

United Kingdom - 6.3%

 

CNH Industrial NV(1)

     220        3,175  

London Stock Exchange Group plc(1)

     76        8,057  

Smiths Group plc(1)

     246        5,144  
     

 

 

 
        16,376  
     

 

 

 

United States - 62.1%

 

Advanced Micro Devices, Inc. *

     59        6,702  

Arista Networks, Inc. *

     24        3,876  

Atlassian Corp., Class A *

     33        5,501  

Bentley Systems, Inc., Class B

     104        5,647  

BJ’s Wholesale Club Holdings, Inc. *

     22        1,392  

Boston Scientific Corp. *

     225        12,185  

Ceridian HCM Holding, Inc. *

     50        3,344  

Clearwater Analytics Holdings, Inc., Class A *

     181        2,870  

Cooper Cos., Inc. (The)

     8        2,983  

Five Below, Inc. *

     15        2,921  

Global Payments, Inc.

     33        3,241  

Guidewire Software, Inc. *

     51        3,910  

Hubbell, Inc.

     5        1,701  

HubSpot, Inc. *

     12        6,422  

Ingersoll Rand, Inc.

     88        5,755  

iRhythm Technologies, Inc. *

     34        3,580  

Lattice Semiconductor Corp. *

     98        9,433  

Live Nation Entertainment, Inc. *

     30        2,770  

MACOM Technology Solutions Holdings, Inc. *

     49        3,219  

Monolithic Power Systems, Inc.

     7        3,977  

Nasdaq, Inc.

     53        2,651  

ON Semiconductor Corp. *

     95        8,994  

Pool Corp.

     8        2,856  

S&P Global, Inc.

     11        4,527  

Saia, Inc. *

     5        1,821  

Shockwave Medical, Inc. *

     9        2,569  

Take-Two Interactive Software, Inc. *

     11        1,599  

Teledyne Technologies, Inc. *

     12        5,020  

Tradeweb Markets, Inc., Class A

     52        3,527  

Trex Co., Inc. *

     42        2,759  

Tyler Technologies, Inc. *

     10        4,038  

Valmont Industries, Inc.

     12        3,535  

Veeva Systems, Inc., Class A *

     75        14,826  

WESCO International, Inc.

     1        170  

West Pharmaceutical Services, Inc.

     10        3,944  

Workiva, Inc., Class A *

     46        4,665  

Zscaler, Inc. *

     17        2,435  
     

 

 

 
        161,365  
     

 

 

 

Total common stocks (Cost $184,686)

 

     244,354  
  

 

 

 


Artisan Global Discovery Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

SHORT-TERM INVESTMENT - 5.3%

 

INVESTMENT COMPANY - 5.3%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $13,869)

     13,869        13,869  
     

 

 

 

Total investments - 99.3% (Cost $198,555)

 

     258,223  

Other assets less liabilities - 0.7%

 

     1,796  
  

 

 

 

Total net assets - 100.0% #

 

   $ 260,019  
  

 

 

 


Artisan Global Discovery Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $61,559, or 23.7% of total net assets. See notes (B) and (C) in the accompanying notes.

(2) 

Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $2,123 or 0.8% of net assets.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 6,304        2.4

Consumer Discretionary

     11,034        4.3  

Consumer Staples

     6,360        2.5  

Energy

     1,048        0.4  

Financials

     28,286        11.0  

Health Care

     63,019        24.4  

Industrials

     45,476        17.6  

Information Technology

     82,827        32.0  

Short-Term Investment

     13,869        5.4  
  

 

 

    

 

 

 

Total investments

   $ 258,223        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CAD

   $ 3,475        1.3

CNY

     1,794        0.7  

DKK

     4,457        1.7  

EUR

     29,835        11.6  

GBP

     13,201        5.1  

HKD

     6,154        2.4  

JPY

     4,168        1.6  

TWD

     1,950        0.8  

USD

     193,189        74.8  
  

 

 

    

 

 

 

Total investments

   $ 258,223        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Global Equity Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 99.1%

 

Belgium - 1.1%

 

UCB SA(1)

     24      $ 2,170  
     

 

 

 

Canada - 1.3%

 

Canadian Pacific Kansas City Ltd.

     17        1,357  

Descartes Systems Group, Inc. (The) *

     14        1,113  
     

 

 

 
        2,470  
     

 

 

 

China - 1.2%

 

Lufax Holding Ltd., ADR

     1,580        2,259  
     

 

 

 

Denmark - 6.4%

 

Ascendis Pharma A/S, ADR *

     19        1,659  

Carlsberg A/S, Class B(1)

     20        3,275  

Novo Nordisk A/S, ADR

     11        1,738  

Novo Nordisk A/S, Class B(1)

     35        5,722  
     

 

 

 
        12,394  
     

 

 

 

France - 6.8%

 

Air Liquide SA(1)

     32        5,741  

Kering SA(1)

     2        962  

LVMH Moet Hennessy Louis Vuitton SE(1)

     5        4,583  

Pernod Ricard SA(1)

     8        1,794  
     

 

 

 
        13,080  
     

 

 

 

Germany - 4.8%

 

AIXTRON SE(1)

     79        2,680  

Deutsche Telekom AG(1)

     168        3,657  

Gerresheimer AG(1)

     27        3,048  
     

 

 

 
        9,385  
     

 

 

 

Hong Kong - 1.8%

 

AIA Group Ltd.(1)

     352        3,588  
     

 

 

 

Indonesia - 0.3%

 

Mitra Adiperkasa Tbk. PT *(1)

     4,575        517  
     

 

 

 

Italy - 3.6%

 

BFF Bank SpA(1)(2)

     643        7,048  
     

 

 

 

Japan - 4.7%

 

Daiichi Sankyo Co. Ltd.(1)

     223        7,068  

Nippon Sanso Holdings Corp.(1)

     89        1,939  
     

 

 

 
        9,007  
     

 

 

 

Netherlands - 4.0%

 

Adyen NV*(1)(2)

     1        1,497  

Argenx SE, ADR *

     11        4,325  

Heineken NV(1)

     19        1,928  
     

 

 

 
        7,750  
     

 

 

 

Russia - 0.0%

 

MMC Norilsk Nickel PJSC, ADR *(1)(3)(4)

     136        —    

Sberbank of Russia PJSC(1)(3)(4)

     1,137        —    
     

 

 

 
        —    
     

 

 

 

Singapore - 2.1%

 

DBS Group Holdings Ltd.(1)

     84        1,953  

United Overseas Bank Ltd.(1)

     103        2,126  
     

 

 

 
        4,079  
     

 

 

 

Switzerland - 6.6%

 

Cie Financiere Richemont SA(1)

     21        3,622  

Lonza Group AG(1)

     1        505  

UBS Group AG(1)

     421        8,571  
     

 

 

 
        12,698  
     

 

 

 

Taiwan - 2.7%

 

Taiwan Semiconductor Manufacturing Co. Ltd.(1)

     198        3,690  

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

     15        1,527  
     

 

 

 
        5,217  
     

 

 

 

United Arab Emirates - 1.4%

 

Americana Restaurants International plc(1)

     2,326        2,675  
     

 

 

 

United Kingdom - 4.6%

 

AstraZeneca plc(1)

     9        1,259  

BAE Systems plc(1)

     212        2,499  

Reckitt Benckiser Group plc(1)

     25        1,855  

Unilever plc(1)

     63        3,291  
     

 

 

 
        8,904  
     

 

 

 

United States - 45.7%

 

Alphabet, Inc., Class C *

     34        4,118  

Amazon.com, Inc. *

     68        8,815  

ANSYS, Inc. *

     7        2,332  

Aon plc, Class A

     9        3,272  

Arthur J Gallagher & Co.

     24        5,287  

Cigna Group (The)

     19        5,338  

Experian plc(1)

     18        698  

Ferguson plc

     11        1,678  

Halozyme Therapeutics, Inc. *

     170        6,129  

Interactive Brokers Group, Inc., Class A

     23        1,928  

Intercontinental Exchange, Inc.

     39        4,385  

Intuit, Inc.

     9        4,265  

Kenvue, Inc. *

     54        1,421  

Legend Biotech Corp., ADR *

     24        1,643  

Linde plc

     5        2,025  

Microsoft Corp.

     14        4,804  

Natera, Inc. *

     77        3,745  

Nestle SA(1)

     35        4,257  

Netflix, Inc. *

     10        4,605  

Stryker Corp.

     13        3,950  

TJX Cos., Inc. (The)

     48        4,040  

T-Mobile US, Inc. *

     20        2,839  

Trane Technologies plc

     5        927  

Visa, Inc., Class A

     16        3,897  

Zoetis, Inc.

     12        2,014  
     

 

 

 
        88,412  
     

 

 

 

Total common stocks (Cost $179,092)

 

     191,653  
  

 

 

 


Artisan Global Equity Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

Total investments - 99.1% (Cost $179,092)

     191,653  

Other assets less liabilities - 0.9%

     1,675  
  

 

 

 

Total net assets - 100.0% #

   $ 193,328  
  

 

 

 


Artisan Global Equity Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $94,218, or 48.7% of total net assets. See notes (B) and (C) in the accompanying notes.

(2) 

Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $8,545 or 4.4% of net assets.

(3) 

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

(4) 

Security is restricted.

 

Security

   Acquisition Date      Cost      Value      Percentage of
Total Net Assets
 

MMC Norilsk Nickel PJSC

     11/09/2020 - 01/14/2022      $ 4,291      $ —          0.0

Sberbank of Russia PJSC

     09/16/2021 - 02/11/2022        4,750        —          0.0

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 15,219        7.9

Consumer Discretionary

     25,214        13.2  

Consumer Staples

     17,821        9.3  

Financials

     45,811        23.9  

Health Care

     50,313        26.3  

Industrials

     7,159        3.7  

Information Technology

     20,411        10.6  

Materials

     9,705        5.1  
  

 

 

    

 

 

 

Total investments

   $ 191,653        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

AED

   $ 2,675        1.4

CAD

     2,470        1.3  

CHF

     16,955        8.8  

DKK

     8,997        4.7  

EUR

     35,108        18.3  

GBP

     9,602        5.0  

HKD

     3,588        1.9  

IDR

     517        0.3  

JPY

     9,007        4.7  

RUB

     —          0.0

SGD

     4,079        2.1  

TWD

     3,690        1.9  

USD

     94,965        49.6  
  

 

 

    

 

 

 

Total investments

   $ 191,653        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Global Opportunities Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 95.7%

 

Brazil - 1.8%

 

NU Holdings Ltd., Class A *

     6,610      $ 52,152  
     

 

 

 

China - 1.1%

 

Tencent Holdings Ltd.(1)

     772        32,841  
     

 

 

 

Denmark - 5.7%

 

Novo Nordisk A/S, Class B(1)

     731        118,026  

Vestas Wind Systems A/S *(1)

     1,708        45,381  
     

 

 

 
        163,407  
     

 

 

 

Finland - 0.5%

 

Neste OYJ(1)

     363        14,001  
     

 

 

 

Germany - 0.5%

 

BioNTech SE, ADR *

     133        14,365  
     

 

 

 

Hong Kong - 5.3%

 

AIA Group Ltd.(1)

     4,780        48,767  

Techtronic Industries Co. Ltd.(1)

     9,514        104,106  
     

 

 

 
        152,873  
     

 

 

 

Japan - 4.3%

 

Hoya Corp.(1)

     392        46,762  

Keyence Corp.(1)

     160        75,572  
     

 

 

 
        122,334  
     

 

 

 

Netherlands - 2.6%

 

Adyen NV*(1)(2)

     23        40,195  

Argenx SE, ADR *

     90        35,103  
     

 

 

 
        75,298  
     

 

 

 

Sweden - 2.1%

 

Hexagon AB, Class B(1)

     4,890        60,207  
     

 

 

 

Switzerland - 7.9%

 

ABB Ltd.(1)

     848        33,372  

Cie Financiere Richemont SA(1)

     267        45,312  

Lonza Group AG(1)

     188        112,207  

UBS Group AG(1)

     1,711        34,810  
     

 

 

 
        225,701  
     

 

 

 

United Kingdom - 7.6%

 

AstraZeneca plc(1)

     642        91,918  

CNH Industrial NV(1)

     2,980        43,077  

London Stock Exchange Group plc(1)

     792        83,909  
     

 

 

 
        218,904  
     

 

 

 

United States - 56.3%

 

Advanced Micro Devices, Inc. *

     1,109        126,294  

Airbnb, Inc., Class A *

     351        44,922  

Alphabet, Inc., Class A *

     585        69,971  

Amazon.com, Inc. *

     288        37,593  

Arista Networks, Inc. *

     253        41,016  

Atlassian Corp., Class A *

     488        81,809  

Boston Scientific Corp. *

     2,398        129,694  

Charles Schwab Corp. (The)

     249        14,115  

Chipotle Mexican Grill, Inc. *

     38        81,725  

CoStar Group, Inc. *

     392        34,847  

Danaher Corp.

     261        62,624  

Ingersoll Rand, Inc.

     940        61,447  

Intuit, Inc.

     181        83,130  

Linde plc

     144        55,034  

Lowe’s Cos., Inc.

     142        32,003  

Lululemon Athletica, Inc. *

     124        47,062  

Microsoft Corp.

     89        30,269  

Netflix, Inc. *

     165        72,578  

NextEra Energy, Inc.

     1,013        75,157  

ON Semiconductor Corp. *

     965        91,277  

Progressive Corp. (The)

     289        38,189  

S&P Global, Inc.

     147        58,936  

Veeva Systems, Inc., Class A *

     870        172,047  

Vertex Pharmaceuticals, Inc. *

     87        30,514  

Workday, Inc., Class A *

     155        35,046  

Zscaler, Inc. *

     94        13,684  
     

 

 

 
        1,620,983  
     

 

 

 

Total common stocks (Cost $1,786,300)

 

     2,753,066  
  

 

 

 

SHORT-TERM INVESTMENT - 3.1%

 

INVESTMENT COMPANY - 3.1%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $89,263)

     89,263        89,263  
     

 

 

 

Total investments - 98.8% (Cost $1,875,563)

 

     2,842,329  

Other assets less liabilities - 1.2%

 

     34,651  
  

 

 

 

Total net assets - 100.0% #

 

   $ 2,876,980  
  

 

 

 


Artisan Global Opportunities Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $1,030,463, or 35.8% of total net assets. See notes (B) and (C) in the accompanying notes.

(2) 

Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $40,195 or 1.4% of net assets.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 175,390        6.2

Consumer Discretionary

     288,617        10.2  

Energy

     14,001        0.5  

Financials

     371,073        13.1  

Health Care

     813,260        28.6  

Industrials

     322,230        11.3  

Information Technology

     638,304        22.5  

Materials

     55,034        1.9  

Utilities

     75,157        2.6  

Short-Term Investment

     89,263        3.1  
  

 

 

    

 

 

 

Total investments

   $ 2,842,329        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CHF

   $ 225,701        7.9

DKK

     163,407        5.8  

EUR

     97,273        3.4  

GBP

     175,827        6.2  

HKD

     185,714        6.5  

JPY

     122,334        4.3  

SEK

     60,207        2.1  

USD

     1,811,866        63.8  
  

 

 

    

 

 

 

Total investments

   $ 2,842,329        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Global Unconstrained Fund

Consolidated Schedule of Investments

June 30, 2023 (Unaudited)

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

 

     Principal
Amount
     Value  

SOVEREIGN GOVERNMENT BONDS - 58.1%

     

Albania - 1.6%

     

Republic of Albania 5.90%, 6/9/2028(1)

   EUR 410      $ 437  
     

 

 

 

Angola - 2.5%

     

Republic of Angola

     

(ICE LIBOR USD 6 Month + 7.50%), 12.77%, 7/3/2023(1)(2)

   $ 150        150  

6.93%, 2/19/2027(1)

     91        84  

8.25%, 5/9/2028(1)

     290        257  

9.13%, 11/26/2049(1)

     240        185  
     

 

 

 
        676  
     

 

 

 

Bahamas - 2.8%

     

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

     760        739  
     

 

 

 

Benin - 2.9%

     

Benin Government Bond 4.88%, 1/19/2032(1)

   EUR 920        759  
     

 

 

 

Bolivia - 0.8%

     

Plurinational State of Bolivia 5.95%, 8/22/2023(1)

     215        207  
     

 

 

 

Cameroon - 4.1%

     

Republic of Cameroon 9.50%, 11/19/2025(1)

     1,135        1,083  
     

 

 

 

Egypt - 3.6%

     

Arab Republic of Egypt

     

4.75%, 4/11/2025(1)

   EUR 660        572  

7.50%, 2/16/2061(1)

     780        389  
     

 

 

 
        961  
     

 

 

 

Iceland - 6.4%

     

Republic of Iceland 2.50%, 4/15/2024

   ISK 243,332        1,696  
     

 

 

 

Indonesia - 1.9%

     

Republic of Indonesia 7.13%, 6/15/2042

   IDR 7,300,000        509  
     

 

 

 

Iraq - 2.8%

     

Republic of Iraq 5.80%, 1/15/2028(1)

     813        746  
     

 

 

 

Ivory Coast - 1.1%

     

Republic of Cote d’Ivoire

     

5.25%, 3/22/2030(1)

   EUR 186        171  

5.88%, 10/17/2031(1)

   EUR 140        128  
     

 

 

 
        299  
     

 

 

 

Kenya - 2.2%

     

Republic of Kenya 6.88%, 6/24/2024(1)

     600        570  
     

 

 

 

Macedonia - 4.7%

     

Republic of North Macedonia

     

5.63%, 7/26/2023(1)

   EUR 580        632  

6.96%, 3/13/2027(1)

   EUR 560        623  
     

 

 

 
        1,255  
     

 

 

 

Nigeria - 3.0%

     

Federal Republic of Nigeria

     

7.63%, 11/21/2025(3)

     280        268  

8.75%, 1/21/2031(1)

     420        376  

8.25%, 9/28/2051(1)

     195        145  
     

 

 

 
        789  
     

 

 

 

Papua New Guinea - 2.1%

     

Papua New Guinea Government International Bond 8.38%, 10/4/2028(1)

     600        558  
     

 

 

 

Peru - 3.0%

     

Bonos de la Tesoreria 6.15%, 8/12/2032

   PEN 3,070        808  
     

 

 

 

Romania - 3.2%

     

Romania Government Bond

     

8.75%, 10/30/2028

   RON 170        41  

3.62%, 5/26/2030(1)

   EUR 100        95  

1.75%, 7/13/2030(1)

   EUR 500        415  

Series 10Y, 8.25%, 9/29/2032

   RON 900        217  

4.63%, 4/3/2049(1)

   EUR 100        84  
     

 

 

 
        852  
     

 

 

 

Rwanda - 0.6%

     

Republic of Rwanda 5.50%, 8/9/2031(1)

     200        151  
     

 

 

 

Serbia - 6.8%

     

Republic of Serbia

     

1.50%, 6/26/2029(1)

   EUR 200        168  

4.50%, 8/20/2032

   RSD 92,000        752  

2.05%, 9/23/2036(1)

   EUR 1,330        888  
     

 

 

 
        1,808  
     

 

 

 

Tajikistan - 1.0%

     

Republic of Tajikistan 7.13%, 9/14/2027(1)

     320        262  
     

 

 

 

Uzbekistan - 1.0%

     

Republic of Uzbekistan

     

14.50%, 11/25/2023(3)

   UZS 330,000        29  

14.50%, 11/25/2023(1)

   UZS 2,800,000        241  
     

 

 

 
        270  
     

 

 

 

Total sovereign government bonds (Cost $15,109)

        15,435  
     

 

 

 

CORPORATE BONDS - 16.8%

     

Brazil - 1.2%

     

MC Brazil Downstream Trading SARL 7.25%, 6/30/2031(1)

     387        261  

Unigel Luxembourg SA 8.75%, 10/1/2026(1)

     140        46  
     

 

 

 
        307  
     

 

 

 

Colombia - 3.5%

     

Aris Mining Corp. 6.88%, 8/9/2026(1)

     400        293  

EnfraGen Energia Sur SA 5.38%, 12/30/2030(1)

     475        309  


Artisan Global Unconstrained Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

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

 

Gran Tierra Energy International Holdings Ltd. 6.25%, 2/15/2025(1)

     379       325  
    

 

 

 
       927  
    

 

 

 

Czech Republic - 1.1%

    

Energo-Pro A/S

    

4.50%, 5/4/2024(1)

   EUR 100       107  

8.50%, 2/4/2027(1)

     200       189  
    

 

 

 
       296  
    

 

 

 

Dominican Republic - 3.5%

    

Banco Central de la Republica Dominicana 13.00%, 12/5/2025(1)

   DOP 48,200       939  
    

 

 

 

Georgia - 0.7%

    

Georgia Capital JSC 6.13%, 3/9/2024(1)

     200       196  
    

 

 

 

Mexico - 0.9%

    

Petroleos Mexicanos 6.95%, 1/28/2060

     400       250  
    

 

 

 

Nigeria - 1.3%

    

SEPLAT Energy plc 7.75%, 4/1/2026(1)

     400       333  
    

 

 

 

Peru - 3.1%

    

Auna SAA 6.50%, 11/20/2025(1)

     400       330  

Inkia Energy Ltd. 5.88%, 11/9/2027(1)

     505       480  
    

 

 

 
       810  
    

 

 

 

Romania - 0.8%

    

Banca Transilvania SA (EURIBOR ICE Swap Rate 1 Year + 5.58%), 8.88%, 4/27/2027(1)(2)

   EUR 200       224  
    

 

 

 

Tanzania - 0.7%

    

HTA Group Ltd. 7.00%, 12/18/2025(3)

     200       189  
    

 

 

 

Total corporate bonds (Cost $4,548)

       4,471  
    

 

 

 
     Shares Held        

COMMON STOCK - 1.5%

    

Georgia - 1.5%

    

Georgia Capital plc (Cost $364) *(4)

     39       412  
    

 

 

 

EXCHANGE TRADED FUND - 0.5%

    

Equity Funds - 0.5%

    

SPDR S&P 500 ETF Trust (Cost $114)

     —   ^      124  
    

 

 

 
     No. of
Contracts
       

OPTION PURCHASED - 0.1%

    

Call Option - 0.1%

    

Future Equity Index Option - 0.1%

    

S&P 500 E-Mini Index 12/15/2023 at USD 3,950.00; Notional Amount: USD 1,815

     8       18  
    

 

 

 

Total Call Option

       18  
    

 

 

 

Total Option Purchased (Cost $59)

       18  
    

 

 

 
     Principal
Amount
       

SHORT-TERM INVESTMENTS - 25.1%

    

SOVEREIGN GOVERNMENT TREASURY BILLS - 1.5%

    

Banco Central del Uruguay

    

11.04%, 2/2/2024(5)

   UYU 9,250       231  

10.66%, 3/1/2024(5)

   UYU 7,128       177  
    

 

 

 

Total sovereign government treasury bills (Cost $394)

       408  
    

 

 

 

U.S. TREASURY OBLIGATIONS - 10.9%

    

U.S. Treasury Bills

    

4.19%, 7/18/2023(5)

   $ 850       848  

4.61%, 8/1/2023(5)

     2,050       2,042  
    

 

 

 

Total U.S. treasury obligations (Cost $2,889)

       2,890  
    

 

 

 

REPURCHASE AGREEMENTS - 11.0%

    

JPMorgan Chase Bank, N.A., Dated 5/3/23, with an interest rate of 3.25% payable by the Portfolio, collateralized by Par 560 Republic of Senegal, 6.25% due 5/23/2033 and a market value of $473(6)

     457       457  

JPMorgan Chase Bank, N.A., Dated 4/21/23, with an interest rate of 1.00% payable by the Portfolio, collateralized by Par 650 Republic of Turkey, 4.38% due 7/8/27 and a market value of $647(6)

     652       712  

JPMorgan Chase Bank, N.A., Dated 5/17/23, with an interest rate of 4.00% payable by the Portfolio, collateralized by Par 740 Arab Republic of Egypt, 5.25% due 10/6/25 and a market value of $569(6)

     554       554  

JPMorgan Chase Bank, N.A., Dated 5/3/23, with an interest rate of 4.00% payable by the Portfolio, collateralized by Par 500 Republic of Paraguay, 4.70% due 3/27/27 and a market value of $489(6)

     521       521  


Artisan Global Unconstrained Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

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

 

JPMorgan Chase Bank, N.A., Dated 5/3/23, with an interest rate of 4.50% payable by the Portfolio, collateralized by Par 260 Petroleos Mexicanos, 6.88% due 10/16/25 and a market value of $250(6)

     264       264  

Merrill Lynch Pierce Fenner & Smith, Inc., Dated 4/5/23, with an interest rate of 3.25% payable by the Portfolio, collateralized by Par 400 Republic of Guatemala, 6.13% due 6/1/50 and a market value of $366(6)

     200       200  

Merrill Lynch Pierce Fenner & Smith, Inc., Dated 2/2/23, with an interest rate of 2.75% payable by the Portfolio, collateralized by Par 400 Republic of Guatemala, 6.13% due 6/1/50 and a market value of $366(6)

     208       208  
    

 

 

 

Total repurchase agreements (Cost $2,921)

       2,916  
    

 

 

 
     Shares Held        

INVESTMENT COMPANIES - 1.7%

    

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97%

     151       151  

Federated Treasury Obligations Fund - Institutional Class, 4.96%

     147       147  

Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 5.03%

     146       146  
    

 

 

 

Total investment companies (Cost $444)

       444  
    

 

 

 

Total short-term investments (Cost $6,648)

       6,658  
    

 

 

 

Total investments - 102.1% (Cost $26,842)

       27,118  
    

 

 

 

SECURITIES SOLD SHORT - (11.0)%

    

COMMON STOCK - (0.5)%

    

United Kingdom - (0.5)%

    

Ashmore Group plc (Proceeds $(139))(4)

     (52     (137
    

 

 

 
     Principal
Amount
       

CORPORATE BOND - (0.9)%

    

Mexico - (0.9)%

    

Petroleos Mexicanos 6.88%, 10/16/2025(7) (Proceeds $(255))

   $ (260     (250
    

 

 

 

SOVEREIGN GOVERNMENT BONDS - (9.6)%

    

Egypt - (2.2)%

    

Arab Republic of Egypt 5.25%, 10/6/2025(1)(7)

     (740     (569

Guatemala - (1.4)%

    

Republic of Guatemala 6.13%, 6/1/2050(1)(7)

     (400     (366

Paraguay - (1.8)%

    

Republic of Paraguay 4.70%, 3/27/2027(1)(7)

     (500     (489

Senegal - (1.8)%

    

Republic of Senegal 6.25%, 5/23/2033(1)(7)

     (560     (473

Turkey - (2.4)%

    

Republic of Turkey 4.38%, 7/8/2027(7)

   EUR (650     (647
    

 

 

 

Total sovereign government bonds (Proceeds $(2,540))

       (2,544
    

 

 

 

Total securities sold short (Proceeds $(2,934))

       (2,931
    

 

 

 

Total investments after securities sold short - 91.1% (Cost $23,908)

       24,187  

Other assets less liabilities - 8.9%

       2,364  
    

 

 

 

Total net assets - 100.0% #

     $ 26,551  
    

 

 

 


Artisan Global Unconstrained Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $13,250 or 49.9% of net assets.

(2) 

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2023.

(3) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers.

(4) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $275, or 1.0% of total net assets. See notes (B) and (C) in the accompanying notes.

(5) 

Yield to maturity.

(6) 

Open repurchase agreement with no specific maturity date. Either party may terminate the agreement upon demand.

(7) 

At June 30, 2023, all or a portion of this security was pledged to cover collateral requirements for repurchase agreements.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Energy

   $ 1,465        5.4

Financials

     1,789        6.6  

Foreign Government Securities

     15,435        56.9  

Health Care

     330        1.2  

Industrials

     189        0.7  

Investment Funds

     124        0.5  

Materials

     339        1.2  

Utilities

     789        2.9  

Short-Term Investments

     6,658        24.6  
  

 

 

    

 

 

 

Total investments

   $ 27,118        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

DOP

   $ 939        3.5

EUR

     6,015        22.2  

GBP

     412        1.5  

IDR

     509        1.9  

ISK

     1,696        6.2  

PEN

     808        3.0  

RON

     258        0.9  

RSD

     752        2.8  

USD

     15,051        55.5  

UYU

     408        1.5  

UZS

     270        1.0  
  

 

 

    

 

 

 

Total investments

   $ 27,118        100.0
  

 

 

    

 

 

 


Artisan Global Unconstrained Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

FOREIGN CURRENCY FORWARD CONTRACTS

Values in thousands

 

Currency Purchased

   Currency Sold     

Counterparty

   Settlement
Date
     Unrealized
Appreciation
(Depreciation)
 

EUR

   1,237      HUF       459,331      SCB      7/3/2023      $ 4  

HUF

   459,331      EUR       1,170      SCB      7/3/2023        68  

KZT**

   402,410      USD       890      SCB      7/3/2023        2  

USD

   200      NGN       105,000      SCB      7/5/2023        63  

PLN

   1,200      EUR       270      SCB      7/10/2023        —  ^  

RON

   871      USD       191      JPM      7/10/2023        1  

USD

   438      RON       1,953      JPM      7/10/2023        8  

USD

   1,112      ZAR       20,338      JPM      7/10/2023        32  

UZS**

   10,850,000      USD       930      CITI      7/17/2023        11  

UZS**

   2,450,000      USD       207      CITI      7/17/2023        6  

USD

   160      KES **      21,600      SCB      7/20/2023        6  

CZK

   8,325      EUR       349      SCB      7/24/2023        1  

KZT**

   402,410      USD       878      CITI      7/31/2023        8  

USD

   486      ZAR       8,913      JPM      8/8/2023        14  

ZAR

   8,798      USD       464      JPM      8/8/2023        2  

USD

   125      IDR **      1,870,335      JPM      8/22/2023        1  

EUR

   722      USD       790      SCB      9/20/2023        —  ^  

USD

   9,096      EUR       8,297      SCB      9/20/2023        7  

UZS**

   2,450,000      USD       201      CITI      10/17/2023        9  

UZS**

   2,971,581      USD       253      CITI      11/2/2023        1  

UGX**

   1,260,000      USD       316      SCB      6/18/2024        10  
                

 

 

 

Total unrealized appreciation

        254  
     

 

 

 

USD

   885      KZT **      402,410      CITI      7/3/2023        (8

NGN

   105,000      USD       203      SCB      7/5/2023        (66

USD

   197      PEN **      729      JPM      7/11/2023        (3

KZT**

   200,000      USD       445      CITI      7/18/2023        (3

KES**

   46,000      USD       354      JPM      7/20/2023        (28

USD

   166      KES **      24,400      JPM      7/20/2023        (7

CZK

   3,320      EUR       140      SCB      7/24/2023        —  ^  

USD

   237      MYR **      1,110      GS      7/31/2023        (3

HUF

   459,331      EUR       1,225      SCB      8/3/2023        (4

USD

   94      EUR       86      SCB      9/20/2023        —  ^  

USD

   445      UZS **      5,300,000      CITI      10/17/2023        (10

KES**

   42,000      USD       308      SCB      12/6/2023        (20

USD

   268      KES **      42,000      SCB      12/6/2023        (19

USD

   154      UGX **      700,000      SCB      6/18/2024        (27

USD

   128      UGX **      560,000      SCB      6/18/2024        (16

USD

   377      GEL **      1,050      SCB      6/24/2024        (4
                

 

 

 

Total unrealized depreciation

        (218
     

 

 

 

Net unrealized appreciation

      $ 36  
     

 

 

 

 

** 

Non-deliverable.


Artisan Global Unconstrained Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

FUTURES CONTRACTS

Values in thousands    

 

Description

   No. of
Contracts‡
     Expiration
Date
     Trading
Currency
     Notional
Amount
     Notional
Value
     Unrealized
Appreciation/
(Depreciation)
 

Long Positions Contracts

 

  

U.S. Treasury 10 Year Note

     3        9/20/2023        USD      $ 300      $ 337      $ (1

U.S. Treasury Ultra Bond

     2        9/20/2023        USD        200        272        4  
                 

 

 

 
                  $ 3  
                 

 

 

 

Short Positions Contracts

 

  

Euro-Bobl

     (28      9/7/2023        EUR        (2,800      (3,535      44  

Euro-BTP

     (6      9/7/2023        EUR        (600      (760      1  

Euro-Bund

     (11      9/7/2023        EUR        (1,100      (1,605      5  

Euro-Schatz

     (7      9/7/2023        EUR        (700      (801      6  

S&P 500 E-Mini Index

     (2      9/15/2023        USD        —  ^        (449      (14

U.S. Treasury 2 Year Note

     (15      9/29/2023        USD        (3,000      (3,050      34  

U.S. Treasury 5 Year Note

     (12      9/29/2023        USD        (1,200      (1,285      19  

U.S. Treasury 10 Year Ultra Note

     (7      9/20/2023        USD        (700      (829      6  
                 

 

 

 
                    101  
                 

 

 

 

Net unrealized appreciation

 

               $ 104  
              

 

 

 


Artisan Global Unconstrained Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

CENTRALLY CLEARED CREDIT DEFAULT SWAPS - BUY PROTECTION

Values in thousands

 

Reference Entity

   Financing Rate (Paid) /
Received by the Fund
(%)
     Frequency of Payments
Made/Received
   Termination
Date
     Notional
Amount
     Upfront
(Payments)
Receipts
    Unrealized
Appreciation
(Depreciation)
    Value
 
Federative Republic of Brazil      1.00      Quarterly      6/20/2028      USD  580        30       (11     19  
Hungary      1.00      Quarterly      6/20/2027      USD 965        33       (20     13  
Hungary      1.00      Quarterly      6/20/2028      USD 300        10       (2     8  
Kingdom of Saudi Arabia      1.00      Quarterly      6/20/2032      USD  1,070        (11     (2     (13
Kingdom of Spain      1.00      Quarterly      6/20/2032      USD 570        (11     1       (10
Malaysia      1.00      Quarterly      12/20/2027      USD 500        (7     (3     (10
Malaysia      1.00      Quarterly      6/20/2028      USD 230        (3     (2     (5
Petrobras Global Finance BV      1.00      Quarterly      12/20/2027      USD 390        27       (14     13  
Republic of Chile      1.00      Quarterly      6/20/2028      USD 280        (2     (2     (4
Republic of Chile      1.00      Quarterly      6/20/2032      USD 950        50       (29     21  
Republic of Colombia      1.00      Quarterly      12/20/2027      USD 100        7       (3     4  
Republic of Colombia      1.00      Quarterly      6/20/2028      USD 100        8       (2     6  
Republic of Indonesia      1.00      Quarterly      12/20/2027      USD 690        3       (9     (6
Republic of Indonesia      1.00      Quarterly      6/20/2028      USD 340        (1     (1     (2
Republic of Kazakhstan      1.00      Quarterly      6/20/2028      USD 1,130        36       (16     20  
Republic of Peru      1.00      Quarterly      6/20/2028      USD 280        (1     (2     (3
Republic of Peru      1.00      Quarterly      6/20/2032      USD 300        14       (7     7  
Republic of Peru      1.00      Quarterly      12/20/2032      USD 660        40       (22     18  
Republic of Poland      1.00      Quarterly      6/20/2027      USD 325        2       (7     (5
Republic of Poland      1.00      Quarterly      12/20/2027      USD 160        4       (6     (2
Republic of Poland      1.00      Quarterly      6/20/2028      USD 270        —  ^       (3     (3
Republic of South Africa      1.00      Quarterly      6/20/2028      USD 600        44       (2     42  
Republic of South Africa      1.00      Quarterly      6/20/2032      USD 765        101       22       123  
Republic of South Africa      1.00      Quarterly      12/20/2032      USD 220        35       2       37  
Republic of Turkey      1.00      Quarterly      6/20/2028      USD 1,110        191       (24     167  
State of Qatar      1.00      Quarterly      12/20/2032      USD 200        (4     (1     (5
United Mexican States      1.00      Quarterly      12/20/2027      USD 175        2       (3     (1
United Mexican States      1.00      Quarterly      6/20/2028      USD 690        5       (4     1  
              

 

 

   

 

 

   

 

 

 

Total Buy Protection

 

        602       (172     430  
     

 

 

   

 

 

   

 

 

 


Artisan Global Unconstrained Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

CENTRALLY CLEARED CREDIT DEFAULT SWAPS - SELL PROTECTION

Values in thousands

 

Reference Entity

   Financing Rate (Paid) /
Received by the Fund
(%)
     Frequency of Payments
Made/Received
   Termination
Date
     Notional
Amount
     Upfront
(Payments)
Receipts
    Unrealized
Appreciation
(Depreciation)
     Value  
Emirate of Abu Dhabi      1.00      Quarterly      6/20/2027      USD  290        6       2        8  
Emirate of Abu Dhabi      1.00      Quarterly      6/20/2028      USD 125        3       —  ^        3  
Hungary      1.00      Quarterly      12/20/2023      USD 310        (1     2        1  
Republic of Colombia      1.00      Quarterly      12/20/2023      USD 310        (1     2        1  
Republic of South Africa      1.00      Quarterly      6/20/2024      USD 40        —  ^       —  ^        —  ^  
Republic of Turkey      1.00      Quarterly      6/20/2024      USD 800        (30     14        (16
              

 

 

   

 

 

    

 

 

 

Total Sell Protection

 

        (23     20        (3
     

 

 

   

 

 

    

 

 

 

CENTRALLY CLEARED INTEREST RATE SWAPS

Values in thousands

 

Floating Rate Index (Frequency)

   Fixed Rate (%)
(Frequency)
     Fund
Pays/
Receives
Floating
Rate
     Termination
Date
     Notional Amount      Upfront
Payments
(Receipts)
($)
    Unrealized
Appreciation
(Depreciation)
($)
    Value ($)  

3 month BA semi-annually

     3.66 semi-annually        Receive        5/18/2033      CAD 610        —         6       6  

6 month BUBOR semi-annually

     7.25 annually        Receive        5/13/2032      HUF  8,300        —         —  ^       —  ^  

6 month PRIBOR semi-annually

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

4 week TIIE monthly

     8.72 monthly        Pay        9/1/2032      MXN 7,210        1       15       16  

1 day THOR quarterly

     2.59 quarterly        Receive        9/1/2032      THB 7,450        (1     2       1  

1 day CDI at termination

     10.94 at termination        Pay        1/2/2026      BRL 2,700        1       9       10  

1 day CLICP semi-annually

     5.16 semi-annually        Receive        4/27/2033      CLP 400,000        —         2       2  

1 day CLICP semi-annually

     7.86 semi-annually        Pay        4/27/2025      CLP 1,710,000        —         26       26  
              

 

 

   

 

 

   

 

 

 

Total unrealized appreciation

 

              1       64       65  
           

 

 

   

 

 

   

 

 

 

4 week TIIE monthly

     9.87 monthly        Pay        3/21/2025      MXN 47,010        (6     (3     (9

3 month BA semi-annually

     4.68 semi-annually        Pay        5/18/2025      CAD 2,740        —         (19     (19

3 month BA semi-annually

     4.99 semi-annually        Pay        6/13/2025      CAD 970        —         (2     (2

3 month BA semi-annually

     3.83 semi-annually        Receive        6/13/2033      CAD 170        —         —  ^       —  ^  

6 month WIBOR semi-annually

     5.30 annually        Receive        4/15/2032      PLN 1,086        —  ^       (4     (4

6 month WIBOR semi-annually

     6.45 annually        Receive        5/13/2032      PLN 225        —         (6     (6

6 month BUBOR semi-annually

     8.16 annually        Receive        6/17/2032      HUF 159,000        12       (44     (32


Artisan Global Unconstrained Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

Floating Rate Index (Frequency)

   Fixed Rate (%)
(Frequency)
     Fund
Pays/
Receives
Floating
Rate
     Termination
Date
     Notional
Amount
     Upfront
Payments
(Receipts)
($)
    Unrealized
Appreciation
(Depreciation)
($)
    Value ($)  

6 month PRIBOR semi-annually

     5.75 annually        Receive        6/17/2032      CZK  2,360        (2     (11     (13

6 month WIBOR semi-annually

     7.45 annually        Receive        6/20/2032      PLN 350        (1     (14     (15

6 month PRIBOR semi-annually

     4.99 annually        Receive        5/13/2032      CZK 6,600        (8     (10     (18

1 day THOR quarterly

     2.99 quarterly        Receive        9/26/2032      THB 5,300        —         (4     (4

1 day THOR quarterly

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

1 day MIBOR semi-annually

     6.19 semi-annually        Pay        5/26/2033      INR 45,100        —         (9     (9

1 day TONAR annually

     0.92 annually        Receive        1/5/2033      JPY 122,900        (12     (22     (34
              

 

 

   

 

 

   

 

 

 

Total unrealized depreciation

 

              (17     (150     (167
           

 

 

   

 

 

   

 

 

 

Total

 

        (16     (86     (102
     

 

 

   

 

 

   

 

 

 

OTC CREDIT DEFAULT SWAP - SELL PROTECTION

Values in thousands

 

Reference Entity

   Financing Rate (Paid) /
Received by the Fund
(%)
     Frequency of Payments
Made/Received
     Counterparty      Termination
Date
     Notional
Amount
     Upfront
(Payments)
Receipts
     Unrealized
Appreciation
(Depreciation)
     Value  

Republic of South Africa

     1.00        Quarterly        CITI        6/20/2024      USD  340        —  ^        —  ^        —  ^  
                 

 

 

    

 

 

    

 

 

 

Total

                    —  ^        —  ^        —  ^  
                 

 

 

    

 

 

    

 

 

 

OTC CREDIT DEFAULT SWAPS - BUY PROTECTION

Values in thousands

 

Reference Entity

   Financing Rate (Paid) /
Received by the Fund
(%)
     Frequency of Payments
Made/Received
   Counterparty      Termination
Date
     Notional
Amount
     Upfront
(Payments)
Receipts
    Unrealized
Appreciation
(Depreciation)
    Value  

Kingdom of Saudi Arabia

     1.00      Quarterly      GS        6/20/2033      USD  440        (2     (2     (4

Kingdom of Spain

     1.00      Quarterly      GS        6/20/2033      USD 270        (4     —         (4

Republic of South Africa

     1.00      Quarterly      GS        6/20/2033      USD 450        85       (6     79  

Republic of South Africa

     1.00      Quarterly      JPM        6/20/2033      USD 110        21       (2     19  

State of Qatar

     1.00      Quarterly      GS        6/20/2033      USD 100        (2     (1     (3
                 

 

 

   

 

 

   

 

 

 

Total

                    98       (11     87  
                 

 

 

   

 

 

   

 

 

 


Artisan Global Unconstrained Fund

Consolidated Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

OTC INTEREST RATE SWAP

Values in thousands

 

Floating Rate Index (Frequency)

   Fixed Rate (%)
(Frequency)
     Fund
Pays/
Receives
Floating
Rate
     Counterparty    Termination
Date
     Notional
Amount
     Upfront
Payments
(Receipts)
     Unrealized
Appreciation
(Depreciation)
     Value  

3 month KLIBOR quarterly

     3.78 quarterly        Receive      GS      3/14/2033      MYR  1,450        3        —  ^        3  
                 

 

 

    

 

 

    

 

 

 

Total

           3        —  ^        3  
        

 

 

    

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Global Value Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 93.5%

 

Belgium - 1.3%

 

Groupe Bruxelles Lambert NV(1)

     345      $ 27,211  
     

 

 

 

Canada - 0.7%

 

Imperial Oil Ltd.

     301        15,394  
     

 

 

 

China - 2.6%

 

Alibaba Group Holding Ltd. *(1)

     5,347        55,606  
     

 

 

 

France - 7.6%

 

Danone SA(1)

     1,591        97,508  

Sodexo SA(1)

     300        33,029  

TotalEnergies SE(1)

     546        31,302  
     

 

 

 
        161,839  
     

 

 

 

Germany - 5.6%

 

Daimler Truck Holding AG(1)

     727        26,170  

HeidelbergCement AG(1)

     1,138        93,435  
     

 

 

 
        119,605  
     

 

 

 

Japan - 1.1%

 

Nintendo Co. Ltd.(1)

     515        23,404  
     

 

 

 

Netherlands - 7.3%

 

Heineken NV(1)

     311        32,008  

Koninklijke Philips NV *(1)

     3,038        65,754  

Shell plc(1)

     1,917        57,087  
     

 

 

 
        154,849  
     

 

 

 

South Korea - 5.0%

 

Samsung Electronics Co. Ltd.(1)

     1,949        107,421  
     

 

 

 

Switzerland - 11.7%

 

Cie Financiere Richemont SA(1)

     327        55,444  

Novartis AG(1)

     1,032        104,195  

Swatch Group AG (The)(1)

     13        3,935  

UBS Group AG(1)

     4,209        85,630  
     

 

 

 
        249,204  
     

 

 

 

United Kingdom - 8.4%

 

BAE Systems plc(1)

     4,756        56,116  

Compass Group plc(1)

     3,207        89,721  

Lloyds Banking Group plc(1)

     61,171        33,912  
     

 

 

 
        179,749  
     

 

 

 

United States - 42.2%

 

Alphabet, Inc., Class A*

     754        90,213  

American Express Co.

     393        68,539  

Bank of New York Mellon Corp. (The)

     1,786        79,493  

Berkshire Hathaway, Inc., Class B*

     238        81,015  

Charles Schwab Corp. (The)

     641        36,334  

Citigroup, Inc.

     1,240        57,112  

Dentsply Sirona, Inc.

     996        39,858  

Elevance Health, Inc.

     196        86,896  

Expedia Group, Inc.*

     362        39,562  

Lam Research Corp.

     51        32,569  

Marsh & McLennan Cos., Inc.

     311        58,559  

Meta Platforms, Inc., Class A*

     327        93,712  

Progressive Corp. (The)

     383        50,725  

Sensata Technologies Holding plc

     466        20,966  

Southwest Airlines Co.

     969        35,074  

Willis Towers Watson plc

     129        30,347  
     

 

 

 
        900,974  
     

 

 

 

Total common stocks (Cost $1,457,864)

 

     1,995,256  
  

 

 

 

SHORT-TERM INVESTMENT - 5.1%

 

INVESTMENT COMPANY - 5.1%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $108,384)

     108,384        108,384  
     

 

 

 

Total investments - 98.6% (Cost $1,566,248)

 

     2,103,640  

Other assets less liabilities - 1.4%

 

     30,328  
  

 

 

 

Total net assets - 100.0%#

 

   $ 2,133,968  
  

 

 

 


Artisan Global Value Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $1,078,888, or 50.6% of total net assets. See notes (B) and (C) in the accompanying notes.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 207,329        9.9

Consumer Discretionary

     277,297        13.2  

Consumer Staples

     129,516        6.1  

Energy

     103,783        4.9  

Financials

     608,877        28.9  

Health Care

     296,703        14.1  

Industrials

     138,326        6.6  

Information Technology

     139,990        6.7  

Materials

     93,435        4.4  

Short-Term Investment

     108,384        5.2  
  

 

 

    

 

 

 

Total investments

   $ 2,103,640        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CAD

   $ 15,394        0.7

CHF

     249,204        11.8  

EUR

     406,417        19.3  

GBP

     236,836        11.3  

HKD

     55,606        2.7  

JPY

     23,404        1.1  

KRW

     107,421        5.1  

USD

     1,009,358        48.0  
  

 

 

    

 

 

 

Total investments

   $ 2,103,640        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan High Income Fund

Schedule of Investments

June 30, 2023 (Unaudited)

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

 

     Principal
Amount
     Value  

CORPORATE BONDS - 76.6%

     

Aerospace & Defense - 0.9%

     

Bombardier, Inc.

     

6.00%, 2/15/2028(1)(2)

   $ 34,907      $ 32,991  

7.13%, 6/15/2026(1)(2)

     8,689        8,630  

7.88%, 4/15/2027(1)(2)

     21,867        21,811  

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

     1,123        999  
     

 

 

 
        64,431  
     

 

 

 

Automobile Components - 0.1%

     

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

     7,361        6,322  
     

 

 

 

Broadline Retail - 2.2%

     

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

     9,223        6,788  

Nordstrom, Inc.

     

4.00%, 3/15/2027

     14,636        13,026  

4.25%, 8/1/2031

     21,278        16,586  

4.38%, 4/1/2030

     48,672        40,228  

5.00%, 1/15/2044

     98,226        68,217  
     

 

 

 
        144,845  
     

 

 

 

Building Products - 0.7%

     

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

     22,571        21,370  

Emerald Debt Merger Sub LLC 6.63%, 12/15/2030(1)

     24,407        24,193  
     

 

 

 
        45,563  
     

 

 

 

Capital Markets - 0.7%

     

AG Issuer LLC 6.25%, 3/1/2028(1)

     46,621        44,395  
     

 

 

 

Chemicals - 2.7%

     

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

     18,333        15,587  

Iris Holding, Inc. 10.00%, 12/15/2028(1)

     39,938        29,185  

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

     9,167        7,656  

Methanex Corp.

     

5.13%, 10/15/2027(2)

     28,114        26,173  

5.25%, 12/15/2029(2)

     87,023        79,516  

5.65%, 12/1/2044(2)

     4,854        3,962  

SK Invictus Intermediate II SARL 5.00%, 10/30/2029(1)

     33,914        26,949  
     

 

 

 
        189,028  
     

 

 

 

Commercial Services & Supplies - 1.0%

     

Neptune Bidco US, Inc. 9.29%, 4/15/2029(1)

     75,956        69,729  
     

 

 

 

Construction & Engineering - 0.4%

     

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

     32,372        29,136  
     

 

 

 

Containers & Packaging - 0.1%

     

Clydesdale Acquisition Holdings, Inc. 8.75%, 4/15/2030(1)

     1,462        1,291  

Sealed Air Corp. 5.00%, 4/15/2029(1)

     4,853        4,515  
     

 

 

 
        5,806  
     

 

 

 

Distributors - 0.7%

     

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

     3,956        3,377  

Ritchie Bros Holdings, Inc. 6.75%, 3/15/2028(1)(2)

     2,485        2,505  

Windsor Holdings III LLC 8.50%, 6/15/2030(1)

     42,123        41,926  
     

 

 

 
        47,808  
     

 

 

 

Diversified REITs - 1.2%

     

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

     53,117        38,967  

Necessity Retail REIT, Inc. (The) 4.50%, 9/30/2028(1)

     31,343        24,111  

Uniti Group LP 4.75%, 4/15/2028(1)

     17,806        14,777  
     

 

 

 
        77,855  
     

 

 

 

Diversified Telecommunication Services - 8.7%

     

Altice France Holding SA

     

6.00%, 2/15/2028(1)(2)

     89,835        43,794  

10.50%, 5/15/2027(1)(2)

     25,971        15,726  

Altice France SA

     

5.13%, 1/15/2029(1)(2)

     8,119        5,788  

5.13%, 7/15/2029(1)(2)

     11,757        8,346  

5.50%, 1/15/2028(1)(2)

     7,974        6,021  

5.50%, 10/15/2029(1)(2)

     111,301        79,596  

CCO Holdings LLC

     

4.25%, 2/1/2031(1)

     87,053        70,423  

4.25%, 1/15/2034(1)

     24,208        18,296  

4.50%, 8/15/2030(1)

     81,193        67,609  

4.50%, 5/1/2032

     94,019        75,070  

4.75%, 3/1/2030(1)

     31,605        27,025  

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

     1,830        1,102  

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

     106,368        84,679  

Virgin Media Secured Finance plc

     

4.50%, 8/15/2030(1)(2)

     22,046        18,482  

5.50%, 5/15/2029(1)(2)

     27,393        24,778  

Zayo Group Holdings, Inc.

     

4.00%, 3/1/2027(1)

     25,706        18,155  

6.13%, 3/1/2028(1)

     40,256        25,155  
     

 

 

 
        590,045  
     

 

 

 

Electrical Equipment - 1.4%

     

Regal Rexnord Corp.

     

6.05%, 2/15/2026(1)

     1,768        1,770  

6.05%, 4/15/2028(1)

     1,773        1,760  

6.30%, 2/15/2030(1)

     45,574        45,439  

6.40%, 4/15/2033(1)

     46,270        46,231  
     

 

 

 
        95,200  
     

 

 

 


Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

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

 

Food Products - 0.8%

     

B&G Foods, Inc. 5.25%, 9/15/2027

     22,683        19,707  

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

     79,712        31,486  
     

 

 

 
        51,193  
     

 

 

 

Ground Transportation - 0.1%

     

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

     13,431        7,555  
     

 

 

 

Health Care Equipment & Supplies - 2.6%

     

Medline Borrower LP

     

3.88%, 4/1/2029(1)

     148,556        129,105  

5.25%, 10/1/2029(1)

     54,157        46,992  
     

 

 

 
        176,097  
     

 

 

 

Health Care Providers & Services - 0.4%

     

Fortrea Holdings, Inc. 7.50%, 7/1/2030(1)

     3,370        3,451  

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

     13,738        12,042  

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

     4,677        4,660  
     

 

 

 
        20,153  
     

 

 

 

Hotel & Resort REITs - 0.4%

     

XHR LP 4.88%, 6/1/2029(1)

     31,343        26,877  
     

 

 

 

Hotels, Restaurants & Leisure - 13.6%

     

Allwyn Entertainment Financing UK plc 7.88%, 4/30/2029(1)(2)

     4,509        4,561  

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

     9,979        8,915  

Brinker International, Inc. 5.00%, 10/1/2024(1)

     25,349        24,715  

Carnival Corp.

     

4.00%, 8/1/2028(1)

     13,445        11,919  

5.75%, 3/1/2027(1)

     120,587        111,011  

6.00%, 5/1/2029(1)

     139,033        124,134  

7.63%, 3/1/2026(1)

     7,882        7,720  

10.50%, 6/1/2030(1)

     18,945        20,098  

Carnival Holdings Bermuda Ltd. 10.38%, 5/1/2028(1)

     4,169        4,560  

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

     14,245        12,750  

Lindblad Expeditions Holdings, Inc. 9.00%, 5/15/2028(1)

     16,485        16,726  

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

     38,037        36,230  

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

     9,176        7,286  

Melco Resorts Finance Ltd. 5.38%, 12/4/2029(1)(2)

     14,102        11,653  

MGM Resorts International

     

4.63%, 9/1/2026

     4,556        4,296  

4.75%, 10/15/2028

     38,315        34,784  

5.50%, 4/15/2027

     2,370        2,271  

Motion Bondco DAC 6.63%, 11/15/2027(1)(2)

     27,623        25,287  

NCL Corp. Ltd.

     

3.63%, 12/15/2024(1)

     17,414        16,757  

5.88%, 3/15/2026(1)

     54,925        51,386  

5.88%, 2/15/2027(1)

     6,824        6,643  

7.75%, 2/15/2029(1)

     43,369        41,192  

NCL Finance Ltd. 6.13%, 3/15/2028(1)

     107,230        96,509  

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

     29,809        24,464  

Royal Caribbean Cruises Ltd.

     

4.25%, 7/1/2026(1)

     19,431        17,837  

5.38%, 7/15/2027(1)

     8,553        7,997  

5.50%, 8/31/2026(1)

     26,365        24,997  

5.50%, 4/1/2028(1)

     45,565        42,491  

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

     17,618        15,769  

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

     18,032        15,192  

Studio City Finance Ltd.

     

5.00%, 1/15/2029(1)(2)

     14,239        10,551  

6.50%, 1/15/2028(1)(2)

     2,527        2,110  

TKC Holdings, Inc.

     

6.88%, 5/15/2028(1)

     18,184        16,003  

10.50%, 5/15/2029(1)

     70,474        53,560  
     

 

 

 
        912,374  
     

 

 

 

Household Durables - 0.2%

     

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

     18,815        15,328  
     

 

 

 

Insurance - 14.0%

     

Acrisure LLC

     

4.25%, 2/15/2029(1)

     38,045        32,840  

6.00%, 8/1/2029(1)

     103,814        89,884  

7.00%, 11/15/2025(1)

     92,121        89,181  

10.13%, 8/1/2026(1)

     48,540        49,664  

Alliant Holdings Intermediate LLC

     

5.88%, 11/1/2029(1)

     20,595        17,916  

6.75%, 10/15/2027(1)

     23,967        22,529  

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

     143,846        132,338  

AssuredPartners, Inc.

     

5.63%, 1/15/2029(1)

     600        519  

7.00%, 8/15/2025(1)

     25,180        24,867  

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

     71,268        61,828  

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

     58,606        57,448  

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

     10,803        9,960  

Jones Deslauriers Insurance Management, Inc.

     

8.50%, 3/15/2030(1)(2)

     77,417        78,982  

10.50%, 12/15/2030(1)(2)

     39,987        40,110  

NFP Corp.

     

4.88%, 8/15/2028(1)

     26,065        23,281  


Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

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

 

6.88%, 8/15/2028(1)

     230,725        200,274  

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

     7,254        6,421  
     

 

 

 
        938,042  
     

 

 

 

IT Services - 1.9%

     

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

     144,065        125,364  
     

 

 

 

Machinery - 2.3%

     

Calderys Financing LLC 11.25%, 6/1/2028(1)(2)

     37,908        38,848  

Chart Industries, Inc.

     

7.50%, 1/1/2030(1)

     17,696        18,055  

9.50%, 1/1/2031(1)

     11,556        12,261  

Werner FinCo. LP 8.75% Cash, 5.75% PIK, 10/15/2028(1)(3)(5)

     46,856        41,173  

Werner FinCo. LP 11.50%, 6/15/2028(1)

     50,221        48,707  
     

 

 

 
        159,044  
     

 

 

 

Media - 4.5%

     

CMG Media Corp. 8.88%, 12/15/2027(1)

     15,947        11,176  

CSC Holdings LLC

     

4.50%, 11/15/2031(1)

     8,967        6,252  

4.63%, 12/1/2030(1)

     103,809        46,189  

5.25%, 6/1/2024

     15,676        14,579  

5.38%, 2/1/2028(1)

     6,632        5,329  

6.50%, 2/1/2029(1)

     17,361        14,028  

7.50%, 4/1/2028(1)

     57,856        32,976  

11.25%, 5/15/2028(1)

     4,509        4,373  

Sinclair Television Group, Inc.

     

5.13%, 2/15/2027(1)

     49,796        42,189  

5.50%, 3/1/2030(1)

     89,825        51,779  

UPC Holding BV 5.50%, 1/15/2028(1)(2)

     2,960        2,584  

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

     17,967        15,716  

Ziggo Bond Co. BV

     

5.13%, 2/28/2030(1)(2)

     17,989        13,622  

6.00%, 1/15/2027(1)(2)

     27,070        24,845  

Ziggo BV 4.88%, 1/15/2030(1)(2)

     24,246        20,123  
     

 

 

 
        305,760  
     

 

 

 

Metals & Mining - 1.1%

     

Commercial Metals Co.

     

3.88%, 2/15/2031

     3,702        3,172  

4.13%, 1/15/2030

     12,069        10,740  

4.38%, 3/15/2032

     9,714        8,395  

Compass Minerals International, Inc. 6.75%, 12/1/2027(1)

     52,402        50,521  
     

 

 

 
        72,828  
     

 

 

 

Oil, Gas & Consumable Fuels - 4.1%

     

Callon Petroleum Co.

     

8.00%, 8/1/2028(1)

     100,156        99,045  

8.25%, 7/15/2025

     3,197        3,173  

CrownRock LP 5.00%, 5/1/2029(1)

     27,759        25,989  

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

     36,407        34,238  

SM Energy Co.

     

5.63%, 6/1/2025

     8,964        8,759  

6.50%, 7/15/2028

     21,535        20,674  

6.63%, 1/15/2027

     4,218        4,097  

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

     36,563        32,006  

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

     39,151        35,784  

Vital Energy, Inc. 7.75%, 7/31/2029(1)

     19,891        16,410  
     

 

 

 
        280,175  
     

 

 

 

Paper & Forest Products - 0.4%

     

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

     31,208        25,845  
     

 

 

 

Passenger Airlines - 3.4%

     

Delta Air Lines, Inc.

     

3.75%, 10/28/2029

     47,512        42,728  

4.38%, 4/19/2028

     9,849        9,257  

7.38%, 1/15/2026

     37,312        38,897  

VistaJet Malta Finance plc

     

6.38%, 2/1/2030(1)(2)

     120,570        97,087  

7.88%, 5/1/2027(1)(2)

     38,637        34,713  
     

 

 

 
        222,682  
     

 

 

 

Personal Care Products - 1.4%

     

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

     74,249        74,713  

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

     22,886        18,947  
     

 

 

 
        93,660  
     

 

 

 

Real Estate Management & Development - 0.4%

     

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

     36,031        26,959  
     

 

 

 

Software - 0.2%

     

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

     25,953        14,684  
     

 

 

 

Specialized REITs - 0.2%

     

Iron Mountain, Inc.

     

5.00%, 7/15/2028(1)

     2,053        1,902  

5.25%, 7/15/2030(1)

     16,023        14,438  
     

 

 

 
        16,340  
     

 

 

 

Specialty Retail - 2.7%

     

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

     26,140        23,203  

Bath & Body Works, Inc.

     

6.63%, 10/1/2030(1)

     8,990        8,679  

6.75%, 7/1/2036

     10,276        9,246  

6.88%, 11/1/2035

     25,606        23,429  

Evergreen Acqco 1 LP 9.75%, 4/26/2028(1)

     17,739        18,344  

Gap, Inc. (The) 3.63%, 10/1/2029(1)

     36,863        26,047  


Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

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

 

3.88%, 10/1/2031(1)

     25,350        17,353  

Specialty Building Products Holdings LLC 6.38%, 9/30/2026(1)

     11,303        10,679  

SRS Distribution, Inc.

     

6.00%, 12/1/2029(1)

     51,705        44,624  

6.13%, 7/1/2029(1)

     2,941        2,540  
     

 

 

 
        184,144  
     

 

 

 

Trading Companies & Distributors - 0.6%

     

Superior Plus LP

     

4.25%, 5/18/2028(1)(2)

   CAD  6,705        4,495  

4.50%, 3/15/2029(1)(2)

     2,125        1,863  

United Rentals North America, Inc. 6.00%, 12/15/2029(1)

     35,753        35,665  
     

 

 

 
        42,023  
     

 

 

 

Wireless Telecommunication Services - 0.5%

     

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

     42,712        34,535  
     

 

 

 

Total corporate bonds (Cost $5,764,433)

        5,161,825  
     

 

 

 

BANK LOANS - 15.2%

     

Automobile Components - 0.6%

     

Wheel Pros, Inc. First Lien Term Loan (ICE LIBOR USD 3 Month + 4.50%), 9.77%, 5/11/2028(3)

     64,680        42,776  
     

 

 

 

Capital Markets - 0.2%

     

Aretec Group, Inc. Term Loan (SOFR + 4.50%), 9.92%, 3/8/2030

     16,166        16,116  
     

 

 

 

Chemicals - 0.2%

     

CPC Acquisition Corp. First Lien Term Loan (SOFR + 3.75%), 9.25%, 12/29/2027(3)

     21,058        15,889  
     

 

 

 

Commercial Services - 2.2%

     

Ankura Consulting Group LLC Second Lien Term Loan (ICE LIBOR USD 3 Month + 8.00%), 13.10%, 3/19/2029(3)

     17,830        14,531  

Digital Room Holdings, Inc. First Lien Term Loan (SOFR + 5.25%), 10.45%, 12/21/2028(3)

     28,835        25,807  

Employbridge Holding Co. Term Loan B

     

(SOFR + 4.75%), 10.26%, 7/19/2028(3)

     51,690        41,518  

(SOFR + 4.75%), 10.29%, 7/16/2028(3)

     264        212  

National Intergovernmental Purchasing Alliance Co. Second Lien Term Loan (SOFR + 7.50%), 12.40%, 5/26/2026(3)

     7,320        6,808  

New SK Holdco Sub LLC Term Loan (SOFR + 8.25%), 13.43%, 6/30/2027(3)

     67,027        57,543  
     

 

 

 
        146,419  
     

 

 

 

Commercial Services & Supplies - 0.3%

     

Neptune BidCo US, Inc. First Lien Term Loan B (SOFR + 5.00%), 9.99%, 4/11/2029(3)

     24,313        21,347  
     

 

 

 

Communications Equipment - 0.6%

     

Delta Topco, Inc. Second Lien Term Loan (SOFR + 7.25%), 12.57%, 12/1/2028(3)

     41,516        37,745  
     

 

 

 

Diversified Telecommunication Services - 0.3%

     

Zayo Group Holdings, Inc. Term Loan (SOFR + 3.00%), 8.22%, 3/9/2027(3)

     22,350        17,493  
     

 

 

 

Electrical Equipment - 0.2%

     

Indicor LLC First Lien Term Loan (SOFR + 4.50%), 9.74%, 11/22/2029(3)

     16,159        16,078  
     

 

 

 

Food Products - 0.5%

     

H-Food Holdings LLC Term Loan (SOFR + 3.69%), 9.27%, 5/23/2025(3)

     29,885        26,204  

H-Food Holdings LLC Term Loan B2 (SOFR + 4.00%), 9.58%, 5/23/2025(3)

     9,862        8,617  

H-Food Holdings LLC Term Loan B3 (SOFR + 5.00%), 10.58%, 5/23/2025(3)

     1,517        1,331  
     

 

 

 
        36,152  
     

 

 

 

Food Service - 1.0%

     

TKC Holdings, Inc. Term Loan (ICE LIBOR USD 1 Month + 5.50%), 10.69%, 5/15/2028(3)

     67,833        62,930  

TKC Midco 1 LLC Term Loan 12.00% Cash, 13.50% PIK, 2/15/2027

     19,207        5,666  
     

 

 

 
        68,596  
     

 

 

 

Health Care Equipment & Supplies - 0.2%

     

Fortrea Holdings, Inc. Term Loan B (SOFR + 3.50%), 8.99%, 7/1/2030(3)

     4,092        4,090  

GHX Ultimate Parent Corp. Term Loan (SOFR + 4.75%), 9.79%, 6/30/2027(3)

     8,090        8,095  
     

 

 

 
        12,185  
     

 

 

 

Health Care Providers & Services - 0.5%

     

Surgery Center Holdings, Inc. Term Loan (SOFR + 3.75%), 8.90%, 8/31/2026(3)

     30,073        30,015  
     

 

 

 


Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

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

 

Hotels, Restaurants & Leisure - 0.2%

     

J&J Ventures Gaming LLC Term Loan (SOFR + 4.00%), 9.54%, 4/26/2028(3)

     $13,342        13,180  
     

 

 

 

Insurance - 1.6%

     

Amynta Agency Borrower, Inc. First Lien Term Loan (SOFR + 5.00%), 10.20%, 2/28/2028(3)

     101,719        98,731  

Hub International Ltd. Term Loan (SOFR + 4.25%), 9.34%, 6/20/2030(3)

     4,130        4,137  
     

 

 

 
        102,868  
     

 

 

 

Investment Companies - 1.2%

     

Nexus Buyer LLC First Lien Term Loan (SOFR + 3.75%), 8.95%, 11/9/2026(3)

     24,663        23,756  

Nexus Buyer LLC Second Lien Term Loan (SOFR + 6.25%), 11.45%, 11/5/2029(3)

     62,871        56,034  
     

 

 

 
        79,790  
     

 

 

 

IT Services - 0.1%

     

Arches Buyer, Inc. Term Loan (SOFR + 3.25%), 8.45%, 12/6/2027(3)

     8,740        8,420  
     

 

 

 

Retail - 0.2%

     

Fogo De Chao, Inc. Term Loan (SOFR + 4.25%), 9.73%, 4/7/2025(3)

     12,915        12,581  
     

 

 

 

Software - 4.3%

     

Applied Systems, Inc. Second Lien Term Loan (SOFR + 6.75%), 11.99%, 9/17/2027(3)

     15,727        15,718  

Castle US Holding Corp. Term Loan (SOFR + 3.75%), 9.11%, 1/29/2027(3)

     4,865        3,545  

CommerceHub, Inc. Second Lien Term Loan (SOFR + 7.00%), 12.22%, 12/29/2028(3)

     10,610        8,148  

Constant Contact, Inc. Second Lien Term Loan (SOFR + 7.50%), 12.70%, 2/12/2029(3)

     28,018        23,255  

Ivanti Software, Inc. Second Lien Term Loan (SOFR + 7.25%), 12.78%, 12/1/2028(3)

     6,435        4,155  

Matrix Parent, Inc. First Lien Term Loan (SOFR + 5.00%), 10.39%, 3/1/2029(3)

     20,948        13,721  

Orchid Merger Sub II LLC Term Loan (SOFR + 4.75%), 10.14%, 7/27/2027(3)

     23,944        17,269  

Renaissance Holdings Corp. First Lien Term Loan (SOFR + 4.75%), 9.90%, 4/5/2030(3)

     61,606        60,759  

Renaissance Holdings Corp. Second Lien Term Loan (ICE LIBOR USD 1 Month + 7.00%),
12.19%, 5/29/2026(3)

     36,536        35,740  

UKG, Inc. Second Lien Term Loan (SOFR + 5.25%), 10.62%, 5/3/2027(3)

     74,902        72,441  

Virgin Pulse, Inc. First Lien Term Loan (SOFR + 3.75%), 8.97%, 4/6/2028(3)

     34,621        32,663  
     

 

 

 
        287,414  
     

 

 

 

Telecommunications - 0.3%

     

Gridiron Fiber Corp. First Lien Term Loan (SOFR + 4.50%), 9.86%, 10/4/2028(3)

     23,547        22,252  
     

 

 

 

Transportation - 0.5%

     

SIRVA Worldwide, Inc. First Lien Term Loan

     

(SOFR + 5.50%), 10.65%, 8/4/2025(3)

     26,552        23,737  

(SOFR + 5.50%), 10.66%, 8/4/2025(3)

     272        243  

(SOFR + 5.50%), 10.77%, 8/4/2025(3)

     5,986        5,352  

(SOFR + 5.50%), 10.98%. 8/4/2025(3)

     4,728        4,227  
     

 

 

 
        33,559  
     

 

 

 

Total bank loans (Cost $1,126,099)

        1,020,875  
     

 

 

 
     Shares Held         

COMMON STOCK - 0.3%

     

Machinery - 0.3%

     

Utex Equity (Cost $10,178)*(4)(5)

     364        23,415  
     

 

 

 
     No. of
Warrants‡
        

WARRANT - 0.0%

     

Financial Services - 0.0%

     

Carnelian Point Holdings LP, expiring 6/30/2027, strike price 10 (Cost $—)*(4)(5)

     71        —    
     

 

 

 
     Shares Held         

SHORT-TERM INVESTMENT - 6.9%

     

INVESTMENT COMPANY - 6.9%

     

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $462,057)

     462,057        462,057  
     

 

 

 

Total investments - 99.0% (Cost $7,362,767)

        6,668,172  

Other assets less liabilities - 1.0%

        65,966  
     

 

 

 

Total net assets - 100.0% #

      $ 6,734,138  
     

 

 

 


Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers.

(2) 

The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications.

 

Security

   Country    Trading Currency

Ahlstrom Holding 3 Oy, 4.88%, 2/4/2028

   Finland    USD

Allwyn Entertainment Financing UK plc, 7.88%, 4/30/2029

   Czech Republic    USD

Altice France Holding SA, 6.00%, 2/15/2028

   Luxembourg    USD

Altice France Holding SA, 10.50%, 5/15/2027

   Luxembourg    USD

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

   France    USD

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

   France    USD

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

   France    USD

Altice France SA, 5.50%, 10/15/2029

   France    USD

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

   United Kingdom    USD

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

   Canada    USD

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

   Canada    USD

Bombardier, Inc., 7.88%, 4/15/2027

   Canada    USD

Calderys Financing LLC, 11.25%, 6/1/2028

   France    USD

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

   Switzerland    USD

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

   Bermuda    USD

Jones Deslauriers Insurance Management, Inc., 8.50%, 3/15/2030

   Canada    USD

Jones Deslauriers Insurance Management, Inc., 10.50%, 12/15/2030

   Canada    USD

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

   Canada    USD

Melco Resorts Finance Ltd., 5.38%, 12/4/2029

   Hong Kong    USD

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

   Canada    USD

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

   Canada    USD

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

   Canada    USD

Motion Bondco DAC, 6.63%, 11/15/2027

   United Kingdom    USD

Ritchie Bros Holdings, Inc., 6.75%, 3/15/2028

   Canada    USD

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

   Canada    USD

Studio City Finance Ltd., 5.00%, 1/15/2029

   Macau    USD

Studio City Finance Ltd., 6.50%, 1/15/2028

   Macau    USD

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

   Canada    CAD

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

   Canada    USD

UPC Holding BV, 5.50%, 1/15/2028

   Netherlands    USD

Virgin Media Finance plc, 5.00%, 7/15/2030

   United Kingdom    USD

Virgin Media Secured Finance plc, 4.50%, 8/15/2030

   United Kingdom    USD

Virgin Media Secured Finance plc, 5.50%, 5/15/2029

   United Kingdom    USD

Virgin Media Vendor Financing Notes IV DAC, 5.00%, 7/15/2028

   United Kingdom    USD

VistaJet Malta Finance plc, 6.38%, 2/1/2030

   Switzerland    USD

VistaJet Malta Finance plc, 7.88%, 5/1/2027

   Switzerland    USD

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

   United Kingdom    USD

Ziggo Bond Co. BV, 5.13%, 2/28/2030

   Netherlands    USD

Ziggo Bond Co. BV, 6.00%, 1/15/2027

   Netherlands    USD

Ziggo BV, 4.88%, 1/15/2030

   Netherlands    USD

 

(3) 

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2023.

(4) 

Defaulted securities.

(5) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $64,588, or 1.0% of total net assets. See notes (B) and (C) in the accompanying notes.


Artisan High Income Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 970,085        14.5

Consumer Discretionary

     1,379,358        20.7  

Consumer Staples

     249,601        3.8  

Energy

     280,175        4.2  

Financials

     1,238,754        18.6  

Health Care

     238,450        3.6  

Industrials

     918,638        13.8  

Information Technology

     473,627        7.1  

Materials

     309,396        4.6  

Real Estate

     148,031        2.2  

Short-Term Investment

     462,057        6.9  
  

 

 

    

 

 

 

Total investments

   $ 6,668,172        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CAD

   $ 4,495        0.1

USD

     6,663,677        99.9  
  

 

 

    

 

 

 

Total investments

   $ 6,668,172        100.0
  

 

 

    

 

 

 

FOREIGN CURRENCY FORWARD CONTRACTS

Values in thousands

 

Currency Purchased

   Currency Sold     

Counterparty

   Settlement
Date
   Unrealized
Depreciation
 

USD

   4,408      CAD        5,948      JPM    7/19/2023    $ (83
                 

 

 

 

Total unrealized depreciation

     (83
     

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan International Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS AND EQUITY-LINKED SECURITY - 95.2%

 

Belgium - 1.9%

 

UCB SA(1)

     1,164      $ 103,193  
     

 

 

 

Canada - 2.3%

 

Canadian Pacific Kansas City Ltd.

     1,176        94,948  

Kinaxis, Inc.*

     185        26,375  
     

 

 

 
        121,323  
     

 

 

 

Denmark - 8.1%

 

Ascendis Pharma A/S, ADR*

     727        64,913  

Carlsberg A/S, Class B(1)

     620        99,200  

Danske Bank A/S*(1)

     2,411        58,714  

Novo Nordisk A/S, ADR

     254        41,037  

Novo Nordisk A/S, Class B(1)

     1,035        167,152  
     

 

 

 
        431,016  
     

 

 

 

France - 13.4%

 

Air Liquide SA(1)

     1,424        255,347  

Airbus SE(1)

     579        83,694  

BNP Paribas SA(1)

     1,707        107,803  

Kering SA(1)

     48        26,680  

LVMH Moet Hennessy Louis Vuitton SE(1)

     166        156,775  

Pernod Ricard SA(1)

     192        42,452  

Safran SA(1)

     254        39,917  
     

 

 

 
        712,668  
     

 

 

 

Germany - 10.8%

 

Allianz SE(1)

     568        132,080  

Deutsche Boerse AG(1)

     869        160,459  

Deutsche Telekom AG(1)

     9,722        211,917  

RWE AG(1)

     1,572        68,417  
     

 

 

 
        572,873  
     

 

 

 

Hong Kong - 1.8%

 

AIA Group Ltd.(1)

     9,604        97,987  
     

 

 

 

Ireland - 3.0%

 

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

     8,514        160,263  
     

 

 

 

Japan - 4.0%

 

Daiichi Sankyo Co. Ltd.(1)

     6,063        192,273  

Nippon Sanso Holdings Corp.(1)

     987        21,458  
     

 

 

 
        213,731  
     

 

 

 

Netherlands - 6.5%

 

Adyen NV *(1)(4)

     28        48,858  

Argenx SE, ADR *

     329        128,217  

Ferrovial SE(1)

     2,067        65,457  

Heineken NV(1)

     744        76,586  

Shell plc(1)

     919        27,349  
     

 

 

 
        346,467  
     

 

 

 

Russia - 0.0%

 

MMC Norilsk Nickel PJSC, ADR *(1)(5)(6)

     4,881        —    

Sberbank of Russia PJSC(1)(5)(6)

     38,445        —    
     

 

 

 
        —    
     

 

 

 

Singapore - 2.1%

 

DBS Group Holdings Ltd.(1)

     2,410        56,352  

United Overseas Bank Ltd.(1)

     2,718        56,335  
     

 

 

 
        112,687  
     

 

 

 

Switzerland - 11.1%

 

Alcon, Inc.(1)

     1,312        109,035  

Cie Financiere Richemont SA(1)

     1,066        180,821  

Lonza Group AG(1)

     24        14,108  

Medacta Group SA(1)(4)

     277        37,750  

UBS Group AG(1)

     12,353        251,340  
     

 

 

 
        593,054  
     

 

 

 

Taiwan - 3.1%

 

Taiwan Semiconductor Manufacturing Co. Ltd.(1)

     6,263        116,713  

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

     462        46,620  
     

 

 

 
        163,333  
     

 

 

 

United Kingdom - 8.0%

 

AstraZeneca plc, ADR

     915        65,516  

AstraZeneca plc(1)

     364        52,200  

BAE Systems plc(1)

     5,548        65,464  

Diageo plc(1)

     2,391        102,581  

Reckitt Benckiser Group plc(1)

     688        51,635  

Unilever plc(1)

     1,707        88,982  
     

 

 

 
        426,378  
     

 

 

 

United States - 19.1%

 

Amazon.com, Inc. *

     1,610        209,934  

Aon plc, Class A

     510        176,195  

Experian plc(1)

     531        20,388  

Kenvue, Inc. *

     1,420        37,527  

Linde plc

     705        268,494  

Nestle SA(1)

     1,557        187,396  

Schlumberger Ltd.

     2,347        115,308  
     

 

 

 
        1,015,242  
     

 

 

 

Total common stocks and equity-linked security (Cost $4,210,303)

 

     5,070,215  
  

 

 

 

SHORT-TERM INVESTMENT - 3.2%

 

INVESTMENT COMPANY - 3.2%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $171,892)

     171,892        171,892  
     

 

 

 

Total investments - 98.4% (Cost $4,382,195)

 

     5,242,107  

Other assets less liabilities - 1.6%

 

     88,405  
  

 

 

 

Total net assets - 100.0%#

 

   $ 5,330,512  
  

 

 

 


Artisan International Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $3,795,131, or 71.2% of total net assets. See notes (B) and (C) in the accompanying notes.

(2) 

Security is restricted. Security was acquired in a transaction pursuant to Rule 144A under the Securities Act of 1933, as amended, on the date or during the period noted below.

 

Security

   Acquisition Date      Cost      Value      Percentage of
Total Net Assets
 

Ryanair Holdings plc

     11/14/2013 - 06/15/2023      $ 98,450      $ 160,263        3.0

 

(3) 

Security is an equity-linked security issued by HSBC Bank plc. Equity-linked securities are subject to counterparty risk with respect to the bank or broker-dealer that issues them.

(4) 

Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $86,608 or 1.6% of net assets.

(5) 

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

(6) 

Security is restricted.

 

Security

   Acquisition Date      Cost      Value      Percentage of
Total Net Assets
 

MMC Norilsk Nickel PJSC

     11/09/2020 - 01/14/2022      $ 151,723      $ —          0.0

Sberbank of Russia PJSC

     09/16/2021 - 02/11/2022        159,810        —          0.0

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 211,917        4.0

Consumer Discretionary

     574,210        11.0  

Consumer Staples

     686,359        13.1  

Energy

     142,657        2.7  

Financials

     1,146,123        21.9  

Health Care

     975,394        18.6  

Industrials

     530,131        10.1  

Information Technology

     189,708        3.6  

Materials

     545,299        10.4  

Utilities

     68,417        1.3  

Short-Term Investment

     171,892        3.3  
  

 

 

    

 

 

 

Total investments

   $ 5,242,107        100.0
  

 

 

    

 

 

 


Artisan International Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CAD

   $ 121,323        2.3

CHF

     780,450        14.9  

DKK

     325,066        6.2  

EUR

     1,579,635        30.1  

GBP

     408,599        7.8  

HKD

     97,987        1.9  

JPY

     213,731        4.1  

RUB

     —          0.0

SGD

     112,687        2.1  

TWD

     116,713        2.2  

USD

     1,485,916        28.4  
  

 

 

    

 

 

 

Total investments

   $ 5,242,107        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan International Explorer Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 81.8%

 

Argentina - 5.9%

 

Despegar.com Corp. *

     456      $ 3,213  
     

 

 

 

Australia - 3.1%

 

Steadfast Group Ltd.(1)

     416        1,665  
     

 

 

 

Canada - 1.6%

 

Knight Therapeutics, Inc. *

     125        466  

Real Matters, Inc.*

     84        386  
     

 

 

 
        852  
     

 

 

 

China - 1.5%

 

China Isotope & Radiation Corp. *(1)

     423        829  
     

 

 

 

Denmark - 1.1%

 

ALK-Abello A/S, Class B *(1)

     55        603  
     

 

 

 

France - 3.6%

 

Alten SA *(1)

     12        1,950  
     

 

 

 

Germany - 4.0%

 

AlzChem Group AG(1)

     50        1,055  

Hensoldt AG(1)

     34        1,128  
     

 

 

 
        2,183  
     

 

 

 

India - 3.1%

 

Care Ratings Ltd.(1)

     196        1,680  
     

 

 

 

Indonesia - 3.7%

 

Mitra Adiperkasa Tbk. PT *(1)

     17,673        1,998  
     

 

 

 

Ireland - 6.4%

 

Glenveagh Properties plc *(1)(2)

     2,865        3,501  
     

 

 

 

Italy - 1.1%

 

Enav SpA(1)(2)

     142        607  
     

 

 

 

Japan - 10.7%

 

Horiba Ltd.(1)

     21        1,178  

NexTone, Inc. *(1)

     24        384  

Sato Holdings Corp.(1)

     157        2,125  

Zuken, Inc.(1)

     80        2,161  
     

 

 

 
        5,848  
     

 

 

 

Mexico - 3.8%

 

Qualitas Controladora SAB de CV

     277        2,045  
     

 

 

 

Norway - 0.9%

 

Sikri Group ASA *(1)

     702        503  
     

 

 

 

South Africa - 1.2%

 

Famous Brands Ltd.(1)

     205        684  
     

 

 

 

South Korea - 2.5%

 

Vitzrocell Co. Ltd.(1)

     80        1,373  
     

 

 

 

Switzerland - 1.9%

 

Medmix AG(1)(2)

     39        1,043  
     

 

 

 

United Kingdom - 19.8%

 

Essentra plc(1)

     470        968  

IDOX plc(1)

     1,892        1,624  

IQE plc *(1)

     2,447        660  

Kingfisher plc(1)

     341        1,005  

LSL Property Services plc(1)

     201        715  

Luxfer Holdings plc

     68        973  

M&C Saatchi plc(1)

     2,138        4,127  

Oxford Biomedica plc *(1)

     128        683  
     

 

 

 
        10,755  
     

 

 

 

United States - 5.9%

 

Impro Precision Industries Ltd.(1)(2)

     5,223        1,692  

Signify NV(1)(2)

     54        1,520  
     

 

 

 
        3,212  
     

 

 

 

Total common stocks (Cost $42,194)

 

     44,544  
  

 

 

 

SHORT-TERM INVESTMENTS - 18.1%

 

INVESTMENT COMPANIES - 18.1%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97%

     3,341        3,341  

Federated Treasury Obligations Fund - Institutional Class, 4.96%

     3,242        3,242  

Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 5.03%

     3,242        3,242  
     

 

 

 

Total investment companies (Cost $9,825)

 

     9,825  
  

 

 

 

Total investments - 99.9% (Cost $52,019)

 

     54,369  

Other assets less liabilities - 0.1%

 

     36  
  

 

 

 

Total net assets - 100.0% #

 

   $ 54,405  
  

 

 

 


Artisan International Explorer Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $37,461, or 68.9% of total net assets. See notes (B) and (C) in the accompanying notes.

(2) 

Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $8,363 or 15.4% of net assets.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 4,511        8.3

Consumer Discretionary

     10,401        19.1  

Financials

     5,390        9.9  

Health Care

     3,624        6.7  

Industrials

     9,418        17.3  

Information Technology

     8,076        14.9  

Materials

     2,023        3.7  

Real Estate

     1,101        2.0  

Short-Term Investments

     9,825        18.1  
  

 

 

    

 

 

 

Total investments

   $ 54,369        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

AUD

   $ 1,665        3.1

CAD

     852        1.5  

CHF

     1,043        1.9  

DKK

     603        1.1  

EUR

     9,761        18.0  

GBP

     9,782        18.0  

HKD

     2,521        4.6  

IDR

     1,998        3.6  

INR

     1,680        3.1  

JPY

     5,848        10.8  

KRW

     1,373        2.5  

MXN

     2,045        3.8  

NOK

     503        0.9  

USD

     14,011        25.8  

ZAR

     684        1.3  
  

 

 

    

 

 

 

Total investments

   $ 54,369        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan International Small-Mid Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 96.2%

 

Belgium - 0.6%

 

Azelis Group NV(1)

     1,154      $ 26,369  
     

 

 

 

Brazil - 1.7%

 

Hapvida Participacoes e Investimentos SA *(2)

     14,978        13,733  

Rumo SA

     6,497        30,204  

Vibra Energia SA

     8,184        31,106  
     

 

 

 
        75,043  
     

 

 

 

Canada - 5.7%

 

Altus Group Ltd.

     732        24,288  

CAE, Inc. *

     3,312        74,119  

Descartes Systems Group, Inc. (The) *

     295        23,613  

Kinaxis, Inc. *

     426        60,816  

Lightspeed Commerce, Inc. *

     2,827        47,829  

Whitecap Resources, Inc.

     3,282        22,963  
     

 

 

 
        253,628  
     

 

 

 

China - 0.1%

 

Jacobio Pharmaceuticals Group Co. Ltd. *(1)(2)

     5,303        3,989  
     

 

 

 

Costa Rica - 0.3%

 

Establishment Labs Holdings, Inc. *

     171        11,717  
     

 

 

 

Denmark - 6.9%

 

ALK-Abello A/S, Class B *(1)

     1,202        13,132  

Ambu A/S, Class B *(1)

     4,830        79,004  

Carlsberg A/S, Class B(1)

     176        28,078  

DSV A/S(1)

     144        30,409  

FLSmidth & Co. A/S(1)

     746        36,104  

Genmab A/S *(1)

     128        48,503  

Royal Unibrew A/S(1)

     280        25,066  

Tryg A/S(1)

     640        13,848  

Vestas Wind Systems A/S *(1)

     904        24,031  

Zealand Pharma A/S *(1)

     263        9,429  
     

 

 

 
        307,604  
     

 

 

 

Finland - 2.6%

 

Metso Outotec OYJ(1)

     9,033        108,816  

Revenio Group OYJ(1)

     255        8,830  
     

 

 

 
        117,646  
     

 

 

 

France - 2.1%

 

Gaztransport Et Technigaz SA(1)

     197        20,074  

Lectra(1)

     1,408        41,960  

Remy Cointreau SA(1)

     56        9,032  

Ubisoft Entertainment SA *(1)

     801        22,635  
     

 

 

 
        93,701  
     

 

 

 

Germany - 6.6%

 

AIXTRON SE(1)

     2,432        82,506  

BioNTech SE, ADR *

     40        4,360  

Carl Zeiss Meditec AG(1)

     166        17,951  

Duerr AG(1)

     775        25,075  

Gerresheimer AG(1)

     769        86,501  

Hamburger Hafen und Logistik AG(1)

     1,119        13,937  

Hannover Rueck SE(1)

     114        24,178  

Immatics NV *

     435        5,018  

Symrise AG, Class A(1)

     352        36,899  
     

 

 

 
        296,425  
     

 

 

 

Iceland - 0.5%

 

Ossur HF*(1)

     4,455        20,992  
     

 

 

 

India - 2.7%

 

IndiaMart InterMesh Ltd.(1)(2)

     853        29,372  

PB Fintech Ltd. *(1)

     2,943        25,094  

WNS Holdings Ltd., ADR *

     873        64,341  
     

 

 

 
        118,807  
     

 

 

 

Israel - 7.1%

 

Kornit Digital Ltd. *

     2,466        72,413  

Nice Ltd., ADR *

     878        181,263  

Radware Ltd. *

     1,632        31,644  

Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.(1)

     189        11,211  

Tel Aviv Stock Exchange Ltd. *(1)

     3,931        20,293  
     

 

 

 
        316,824  
     

 

 

 

Italy - 1.9%

 

Davide Campari-Milano NV(1)

     2,864        39,695  

Ermenegildo Zegna NV

     1,597        20,248  

Intercos SpA(1)

     167        2,812  

Moncler SpA(1)

     327        22,602  
     

 

 

 
        85,357  
     

 

 

 

Japan - 12.2%

 

Azbil Corp.(1)

     2,398        75,891  

Carenet, Inc.(1)

     1,952        12,795  

CKD Corp.(1)(3)

     3,657        60,089  

Daikokutenbussan Co. Ltd.(1)(3)

     762        28,258  

en Japan, Inc.(1)

     578        10,010  

Fujitec Co. Ltd.(1)

     776        19,883  

GMO Financial Gate, Inc.(1)

     267        21,567  

Jeol Ltd.(1)

     571        20,370  

Kobe Bussan Co. Ltd.(1)

     442        11,436  

Lion Corp.(1)

     1,434        13,370  

Money Forward, Inc. *(1)

     631        25,090  

Morinaga Milk Industry Co. Ltd.(1)

     763        25,006  

NOF Corp.(1)

     962        41,349  

Rohm Co. Ltd.(1)

     715        67,536  

Rohto Pharmaceutical Co. Ltd.(1)

     1,314        29,669  

SCSK Corp.(1)

     557        8,773  

SG Holdings Co. Ltd.(1)

     3,651        52,086  

Sosei Group Corp. *(1)

     381        3,962  

Temairazu, Inc.(1)

     298        8,289  

Ubicom Holdings, Inc.(1)(3)

     775        8,671  
     

 

 

 
        544,100  
     

 

 

 

Mexico - 0.5%

 

Qualitas Controladora SAB de CV

     2,901        21,461  
     

 

 

 

Netherlands - 1.2%

 

IMCD NV(1)

     367        52,725  
     

 

 

 


Artisan International Small-Mid Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

Sweden - 2.8%

 

AAK AB(1)

     1,595        30,017  

Fortnox AB(1)

     5,572        32,907  

Swedish Orphan Biovitrum AB *(1)

     3,112        60,692  
     

 

 

 
        123,616  
     

 

 

 

Switzerland - 7.0%

 

Alcon, Inc.(1)

     1,200        99,740  

Baloise Holding AG(1)

     256        37,715  

Barry Callebaut AG(1)

     19        36,581  

Belimo Holding AG(1)

     79        39,513  

Burckhardt Compression Holding AG(1)

     65        38,249  

DSM-Firmenich AG *(1)

     297        31,984  

Inficon Holding AG(1)

     8        10,224  

Tecan Group AG(1)

     44        17,044  
     

 

 

 
        311,050  
     

 

 

 

Thailand - 1.6%

 

Fabrinet*

     562        73,001  
     

 

 

 

United Kingdom - 15.2%

 

Alphawave IP Group plc *(1)

     17,445        31,856  

Balfour Beatty plc(1)

     8,982        38,925  

boohoo Group plc *(1)

     13,952        6,008  

Britvic plc(1)

     2,900        31,550  

ConvaTec Group plc(1)(2)

     35,634        92,923  

Croda International plc(1)

     176        12,601  

Howden Joinery Group plc(1)

     6,963        56,849  

Immunocore Holdings plc, ADR *

     80        4,787  

JD Sports Fashion plc(1)

     19,044        35,298  

JET2 plc(1)

     5,370        84,940  

Oxford Biomedica plc *(1)

     251        1,344  

Rotork plc(1)

     17,122        66,374  

RS Group plc(1)

     2,312        22,346  

Smiths Group plc(1)

     1,973        41,290  

Spirax-Sarco Engineering plc(1)

     332        43,666  

St. James’s Place plc(1)

     3,006        41,540  

Subsea 7 SA(1)

     2,254        28,034  

Trainline plc *(1)(2)

     10,402        34,415  
     

 

 

 
        674,746  
     

 

 

 

United States - 16.9%

 

Agilysys, Inc. *

     704        48,353  

Akero Therapeutics, Inc. *

     149        6,950  

Alkermes plc *

     1,156        36,194  

Avidity Biosciences, Inc.*

     1,337        14,822  

Calix, Inc. *

     321        16,020  

Chart Industries, Inc. *

     80        12,820  

CyberArk Software Ltd. *

     498        77,796  

Envista Holdings Corp. *

     741        25,059  

Glaukos Corp. *

     1,144        81,457  

ImmunoGen, Inc. *

     2,299        43,377  

Ingersoll Rand, Inc.

     849        55,467  

Inspire Medical Systems, Inc. *

     69        22,486  

Lantheus Holdings, Inc. *

     148        12,394  

Legend Biotech Corp., ADR *

     320        22,060  

Madrigal Pharmaceuticals, Inc. *

     142        32,794  

MaxCyte, Inc. *

     794        3,644  

Model N, Inc. *

     1,565        55,326  

Monday.com Ltd. *

     143        24,556  

Myriad Genetics, Inc. *

     1,569        36,363  

RxSight, Inc. *

     1,282        36,919  

STAAR Surgical Co. *

     181        9,538  

ViewRay, Inc. *

     9,051        3,188  

Wolfspeed, Inc. *

     1,308        72,716  
     

 

 

 
        750,299  
     

 

 

 

Total common stocks (Cost $3,720,247)

 

     4,279,100  
  

 

 

 

SHORT-TERM INVESTMENT - 2.6%

 

INVESTMENT COMPANY - 2.6%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $116,331)

     116,331        116,331  
     

 

 

 

Total investments - 98.8% (Cost $3,836,578)

 

     4,395,431  

Other assets less liabilities - 1.2%

 

     53,169  
  

 

 

 

Total net assets - 100.0% #

 

   $ 4,448,600  
  

 

 

 


Artisan International Small-Mid Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $2,709,877, or 60.9% of total net assets. See notes (B) and (C) in the accompanying notes.

(2) 

Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $174,432 or 3.9% of net assets.

(3) 

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

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 22,635        0.5

Consumer Discretionary

     157,966        3.6  

Consumer Staples

     321,781        7.3  

Energy

     71,071        1.6  

Financials

     205,696        4.7  

Health Care

     1,024,061        23.3  

Industrials

     1,230,422        28.0  

Information Technology

     1,098,347        25.0  

Materials

     122,833        2.8  

Real Estate

     24,288        0.6  

Short-Term Investment

     116,331        2.6  
  

 

 

    

 

 

 

Total investments

   $ 4,395,431        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

BRL

   $ 75,043        1.7

CAD

     253,628        5.8  

CHF

     279,066        6.3  

DKK

     328,596        7.5  

EUR

     674,581        15.3  

GBP

     641,925        14.6  

HKD

     3,989        0.1  

ILS

     31,504        0.7  

INR

     54,466        1.2  

JPY

     544,100        12.4  

MXN

     21,461        0.5  

NOK

     28,034        0.6  

SEK

     123,616        2.8  

USD

     1,335,422        30.5  
  

 

 

    

 

 

 

Total investments

   $ 4,395,431        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan International Value Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS AND EQUITY-LINKED SECURITY - 90.6%

 

Belgium - 1.4%

 

Groupe Bruxelles Lambert NV(1)

     5,078      $ 400,237  
     

 

 

 

Bermuda - 0.4%

 

Voussoir RE Ltd. (Preferred Shares) *(1)(2)

     1        103,240  
     

 

 

 

Brazil - 0.7%

 

Telefonica Brasil SA, ADR

     21,804        199,074  
     

 

 

 

Canada - 3.6%

 

Alimentation Couche-Tard, Inc.

     11,214        575,041  

Suncor Energy, Inc.

     15,567        456,632  
     

 

 

 
        1,031,673  
     

 

 

 

China - 4.2%

 

Alibaba Group Holding Ltd. *(1)

     55,446        576,644  

Anhui Conch Cement Co. Ltd., Class H(1)

     53,125        141,422  

Hengan International Group Co. Ltd.(1)

     38,577        162,658  

Trip.com Group Ltd. *(1)

     9,248        323,544  
     

 

 

 
        1,204,268  
     

 

 

 

Finland - 1.3%

 

Nokia OYJ, ADR

     70,929        295,064  

Nokia OYJ(1)

     19,073        80,040  
     

 

 

 
        375,104  
     

 

 

 

France - 10.6%

 

Danone SA(1)

     21,762        1,333,506  

Safran SA(1)

     6,297        989,362  

Sodexo SA(1)

     5,821        641,030  

Sodexo SA (Registered Shares)(1)(3)

     737        81,192  
     

 

 

 
        3,045,090  
     

 

 

 

Germany - 4.1%

 

adidas AG(1)

     2,067        400,990  

Bayer AG(1)

     7,812        431,880  

Brenntag SE(1)

     646        50,345  

Fresenius Medical Care AG & Co. KGaA(1)

     6,028        287,866  
     

 

 

 
        1,171,081  
     

 

 

 

India - 3.5%

 

HCL Technologies Ltd.(1)

     59,222        860,030  

Indus Towers Ltd. *(1)

     72,516        145,420  
     

 

 

 
        1,005,450  
     

 

 

 

Ireland - 3.4%

 

CRH plc(1)

     6,482        357,991  

Ryanair Holdings plc *(1)

     1,846        34,740  

Ryanair Holdings plc, Equity-Linked Security*(1)(4)(5)

     30,602        576,011  
     

 

 

 
        968,742  
     

 

 

 

Japan - 1.9%

 

Nintendo Co. Ltd.(1)

     5,438        247,367  

Seven & i Holdings Co. Ltd.(1)

     7,255        313,698  
     

 

 

 
        561,065  
     

 

 

 

Mexico - 0.7%

 

Gruma SAB de CV, Class B

     13,169        211,456  
     

 

 

 

Netherlands - 3.6%

 

Koninklijke Philips NV *(1)

     36,338        786,360  

Universal Music Group NV(1)

     10,883        241,791  
     

 

 

 
        1,028,151  
     

 

 

 

South Korea - 7.4%

 

NAVER Corp.(1)

     2,179        305,061  

Samsung Electronics Co. Ltd.(1)

     22,602        1,245,738  

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

     12,354        560,678  
     

 

 

 
        2,111,477  
     

 

 

 

Switzerland - 15.3%

 

ABB Ltd.(1)

     27,671        1,088,792  

Cie Financiere Richemont SA(1)

     4,440        753,286  

Novartis AG(1)

     14,636        1,477,123  

UBS Group AG(1)

     52,728        1,072,784  
     

 

 

 
        4,391,985  
     

 

 

 

United Kingdom - 14.8%

 

Associated British Foods plc(1)

     16,352        414,767  

Berkeley Group Holdings plc(1)(6)

     5,814        289,564  

CNH Industrial NV(1)

     24,265        350,712  

Compass Group plc(1)

     38,328        1,072,167  

Inchcape plc(1)

     6,242        61,686  

Liberty Global plc, Class A *

     10,800        182,087  

Liberty Global plc, Class C *

     6,333        112,545  

Lloyds Banking Group plc(1)

     857,429        475,334  

Pearson plc(1)

     11,900        125,410  

RELX plc (London Stock Exchange)(1)

     22,352        745,180  

RELX plc (Turquoise Stock Exchange)(1)

     1,429        47,661  

Unilever plc(1)

     7,080        369,189  
     

 

 

 
        4,246,302  
     

 

 

 

United States - 13.7%

 

Arch Capital Group Ltd. *

     17,810        1,333,088  

Garmin Ltd.

     5,465        569,918  

Holcim AG(1)

     12,744        856,820  

Sensata Technologies Holding plc(6)

     8,927        401,630  

Willis Towers Watson plc

     3,231        760,788  
     

 

 

 
        3,922,244  
     

 

 

 

Total common stocks and equity-linked security (Cost $20,435,082)

 

     25,976,639  
  

 

 

 

SHORT-TERM INVESTMENT - 8.2%

 

INVESTMENT COMPANY - 8.2%

     

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $2,343,495)

     2,343,495        2,343,495  
     

 

 

 


Artisan International Value Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

Total investments - 98.8% (Cost $22,778,577)

      $ 28,320,134  

Other assets less liabilities - 1.2%

        336,002  
     

 

 

 

Total net assets - 100.0% #

      $ 28,656,136  
     

 

 

 


Artisan International Value Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $20,879,316, or 72.9% of total net assets. See notes (B) and (C) in the accompanying notes.

(2) 

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

(3) 

Security is restricted.

 

Security

   Acquisition
Date
   Cost      Value      Percentage of
Total Net Assets
 

Sodexo SA (Registered Shares)

   09/04/2020    $ 63,852      $ 81,192        0.3

 

(4) 

Security is restricted. Security was acquired in a transaction pursuant to Rule 144A under the Securities Act of 1933, as amended, on the date or during the period noted below.

 

Security

   Acquisition
Date
   Cost      Value      Percentage of
Total Net Assets
 

Ryanair Holdings plc

   11/14/2013 - 06/15/2023    $ 350,852      $ 576,011        2.0

 

(5) 

Security is an equity-linked security issued by HSBC Bank plc. Equity-linked securities are subject to counterparty risk with respect to the bank or broker-dealer that issues them.

(6) 

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

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 1,433,345        5.1

Consumer Discretionary

     4,895,431        17.3  

Consumer Staples

     3,380,315        11.9  

Energy

     456,632        1.6  

Financials

     4,145,471        14.6  

Health Care

     2,983,229        10.5  

Industrials

     4,284,433        15.1  

Information Technology

     3,041,550        10.8  

Materials

     1,356,233        4.8  

Short-Term Investment

     2,343,495        8.3  
  

 

 

    

 

 

 

Total investments

   $ 28,320,134        100.0
  

 

 

    

 

 

 


Artisan International Value Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

CAD

   $ 1,031,673        3.6

CHF

     5,248,805        18.5  

EUR

     6,515,703        23.0  

GBP

     3,553,297        12.5  

HKD

     1,204,268        4.3  

INR

     1,005,450        3.6  

JPY

     561,065        2.0  

KRW

     2,111,477        7.5  

MXN

     211,456        0.7  

USD

     6,876,940        24.3  
  

 

 

    

 

 

 

Total investments

   $ 28,320,134        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-Port Part F.

OTC TOTAL RETURN SWAP

Values in thousands

 

Reference

Entity

  

Payments Made by

Fund

  

Payments

Received by

Portfolio

  

Frequency of

Payments

Made/Received

  

Counterparty

   Maturity
Date
    

Notional

Amount

   Upfront
Payments
(Receipts)
     Unrealized
Appreciation
     Value  

Gruma SAB de CV

  

Fed funds rate

+ (0.70)% and

decrease in total

return of

reference entity

  

Increase in

total return

of reference

entity

   Monthly    UBS AG      9/21/2023      USD 1,800      —          139        139  
                    

 

 

    

 

 

    

 

 

 
                       —          139        139  
                    

 

 

    

 

 

    

 

 

 


Artisan Mid Cap Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 98.5%

 

Banks - 0.8%

 

NU Holdings Ltd., Class A*(1)

     4,715      $ 37,200  
     

 

 

 

Biotechnology - 9.3%

 

Argenx SE, ADR *(1)

     383        149,403  

Ascendis Pharma A/S, ADR *(1)

     1,097        97,905  

BioNTech SE, ADR*(1)

     375        40,509  

Exact Sciences Corp. *

     1,038        97,504  

Halozyme Therapeutics, Inc. *

     914        32,985  

Sarepta Therapeutics, Inc. *

     169        19,315  
     

 

 

 
        437,621  
     

 

 

 

Broadline Retail - 1.7%

 

Etsy, Inc. *

     440        37,268  

Global-e Online Ltd. *(1)

     1,013        41,467  
     

 

 

 
        78,735  
     

 

 

 

Building Products - 1.2%

 

Trex Co., Inc. *

     868        56,906  
     

 

 

 

Capital Markets - 3.3%

 

MarketAxess Holdings, Inc.

     147        38,503  

MSCI, Inc.

     137        64,103  

Tradeweb Markets, Inc., Class A

     752        51,508  
     

 

 

 
        154,114  
     

 

 

 

Communications Equipment - 1.9%

 

Arista Networks, Inc. *

     542        87,764  
     

 

 

 

Consumer Staples Distribution & Retail - 0.8%

 

BJ’s Wholesale Club Holdings, Inc. *

     583        36,743  
     

 

 

 

Distributors - 0.9%

 

Pool Corp.

     113        42,298  
     

 

 

 

Electrical Equipment - 3.1%

 

Hubbell, Inc.

     266        88,203  

Rockwell Automation, Inc.

     180        59,210  
     

 

 

 
        147,413  
     

 

 

 

Electronic Equipment, Instruments & Components - 2.2%

 

Keysight Technologies, Inc. *

     236        39,586  

Teledyne Technologies, Inc. *

     160        65,726  
     

 

 

 
        105,312  
     

 

 

 

Entertainment - 3.9%

 

Liberty Media Corp-Liberty Formula One, Class C *

     397        29,859  

Live Nation Entertainment, Inc. *

     698        63,612  

ROBLOX Corp., Class A *

     560        22,561  

Spotify Technology SA *

     146        23,437  

Take-Two Interactive Software, Inc. *

     296        43,525  
     

 

 

 
        182,994  
     

 

 

 

Financial Services - 1.7%

 

Global Payments, Inc.

     810        79,761  
     

 

 

 

Ground Transportation - 1.1%

 

Saia, Inc. *

     150        51,411  
     

 

 

 

Health Care Equipment & Supplies - 5.3%

 

Cooper Cos., Inc. (The)

     108        41,486  

Dexcom, Inc. *

     689        88,577  

Envista Holdings Corp. *

     651        22,028  

iRhythm Technologies, Inc. *

     359        37,452  

Shockwave Medical, Inc. *

     204        58,294  
     

 

 

 
        247,837  
     

 

 

 

Health Care Providers & Services - 0.9%

 

agilon health, Inc. *

     2,537        43,992  
     

 

 

 

Health Care Technology - 5.1%

 

Veeva Systems, Inc., Class A *

     1,211        239,431  
     

 

 

 

Hotels, Restaurants & Leisure - 3.8%

 

Chipotle Mexican Grill, Inc. *

     84        178,613  
     

 

 

 

Insurance - 2.4%

 

Arthur J Gallagher & Co.

     297        65,277  

Ryan Specialty Holdings, Inc., Class A *

     1,092        49,042  
     

 

 

 
        114,319  
     

 

 

 

IT Services - 1.4%

 

Shopify, Inc., Class A *(1)

     1,032        66,668  
     

 

 

 

Life Sciences Tools & Services - 7.3%

 

Agilent Technologies, Inc.

     770        92,538  

Gerresheimer AG(1)(2)

     531        59,734  

Repligen Corp. *

     373        52,747  

West Pharmaceutical Services, Inc.

     358        136,926  
     

 

 

 
        341,945  
     

 

 

 

Machinery - 5.0%

 

Fortive Corp.

     1,149        85,918  

Ingersoll Rand, Inc.

     2,298        150,170  
     

 

 

 
        236,088  
     

 

 

 

Professional Services - 4.8%

 

Ceridian HCM Holding, Inc. *

     919        61,559  

CoStar Group, Inc. *

     891        79,326  

Verisk Analytics, Inc.

     376        85,007  
     

 

 

 
        225,892  
     

 

 

 

Semiconductors & Semiconductor Equipment - 10.6%

 

Lattice Semiconductor Corp. *

     2,227        213,983  

Monolithic Power Systems, Inc.

     211        114,078  

ON Semiconductor Corp. *

     1,782        168,551  
     

 

 

 
        496,612  
     

 

 

 

Software - 17.3%

 

Atlassian Corp., Class A *

     832        139,692  

Bentley Systems, Inc., Class B

     1,297        70,343  

Datadog, Inc., Class A *

     638        62,773  

HubSpot, Inc. *

     413        219,598  

Synopsys, Inc. *

     305        133,013  

Tyler Technologies, Inc. *

     241        100,271  

Zscaler, Inc. *

     607        88,818  
     

 

 

 
        814,508  
     

 

 

 

Specialty Retail - 1.3%

 

Five Below, Inc. *

     321        63,012  
     

 

 

 

Textiles, Apparel & Luxury Goods - 1.3%

 

Lululemon Athletica, Inc. *

     162        61,152  
     

 

 

 

Trading Companies & Distributors - 0.1%

 

WESCO International, Inc.

     17        3,099  
     

 

 

 

Total common stocks (Cost $2,963,292)

 

     4,631,440  
  

 

 

 


Artisan Mid Cap Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

SHORT-TERM INVESTMENT - 1.4%

 

INVESTMENT COMPANY - 1.4%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $63,626)

     63,626      $ 63,626  
     

 

 

 

Total investments - 99.9% (Cost $3,026,918)

 

     4,695,066  

Other assets less liabilities - 0.1%

 

     4,565  
  

 

 

 

Total net assets - 100.0%#

 

   $ 4,699,631  
  

 

 

 


Artisan Mid Cap Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications.

 

Security

   Country    Trading Currency

Argenx SE

   Netherlands    USD

Ascendis Pharma A/S

   Denmark    USD

BioNTech SE

   Germany    USD

Gerresheimer AG

   Germany    EUR

Global-e Online Ltd.

   Israel    USD

NU Holdings Ltd.

   Brazil    USD

Shopify, Inc.

   Canada    USD

 

(2) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $59,734, or 1.3% of total net assets. See notes (B) and (C) in the accompanying notes.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 182,995        3.9

Consumer Discretionary

     423,810        9.0  

Consumer Staples

     36,743        0.8  

Financials

     385,394        8.2  

Health Care

     1,310,826        27.9  

Industrials

     720,809        15.4  

Information Technology

     1,570,863        33.4  

Short-Term Investment

     63,626        1.4  
  

 

 

    

 

 

 

Total investments

   $ 4,695,066        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

EUR

   $ 59,734        1.3

USD

     4,635,332        98.7  
  

 

 

    

 

 

 

Total investments

   $ 4,695,066        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Mid Cap Value Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 98.0%

 

Aerospace & Defense - 1.8%

 

CAE, Inc. *(1)

     979      $ 21,911  
     

 

 

 

Air Freight & Logistics - 2.0%

 

Expeditors International of Washington, Inc.

     203        24,564  
     

 

 

 

Automobile Components - 3.5%

 

BorgWarner, Inc.

     382        18,702  

Gentex Corp.

     799        23,371  
     

 

 

 
        42,073  
     

 

 

 

Banks - 11.4%

 

Comerica, Inc.

     303        12,839  

Fifth Third Bancorp

     923        24,193  

First Citizens BancShares, Inc., Class A

     42        53,802  

M&T Bank Corp.

     213        26,412  

Washington Federal, Inc.

     754        19,987  
     

 

 

 
        137,233  
     

 

 

 

Capital Markets - 1.8%

 

Moelis & Co., Class A

     488        22,134  
     

 

 

 

Consumer Staples Distribution & Retail - 4.8%

 

Dollar General Corp.

     102        17,299  

Kroger Co. (The)

     501        23,530  

Sysco Corp.

     233        17,295  
     

 

 

 
        58,124  
     

 

 

 

Diversified Consumer Services - 1.2%

 

H&R Block, Inc.

     434        13,844  
     

 

 

 

Electric Utilities - 2.3%

 

OGE Energy Corp.

     773        27,746  
     

 

 

 

Electrical Equipment - 2.4%

 

Godha Cabcon & Insulation Ltd. Escrow *(1)(2)(3)

     220        —    

nVent Electric plc

     562        29,031  
     

 

 

 
        29,031  
     

 

 

 

Electronic Equipment, Instruments & Components - 3.3%

 

Vontier Corp.

     1,229        39,576  
     

 

 

 

Energy Equipment & Services - 2.1%

 

NOV, Inc.

     1,611        25,835  
     

 

 

 

Entertainment - 3.4%

 

Electronic Arts, Inc.

     165        21,343  

Warner Bros Discovery, Inc. *

     1,563        19,601  
     

 

 

 
        40,944  
     

 

 

 

Financial Services - 1.8%

 

Corebridge Financial, Inc.

     1,220        21,539  
     

 

 

 

Food Products - 2.0%

 

Tyson Foods, Inc., Class A

     465        23,743  
     

 

 

 

Ground Transportation - 2.9%

 

U-Haul Holding Co., Series N

     613        31,078  

U-Haul Holding Co.

     68        3,770  
     

 

 

 
        34,848  
     

 

 

 

Health Care Equipment & Supplies - 5.8%

 

Baxter International, Inc.

     797        36,329  

Dentsply Sirona, Inc.

     852        34,089  
     

 

 

 
        70,418  
     

 

 

 

Health Care Providers & Services - 2.2%

 

Centene Corp. *

     395        26,616  
     

 

 

 

Hotels, Restaurants & Leisure - 6.9%

 

Expedia Group, Inc. *

     250        27,367  

Marriott International, Inc., Class A

     175        32,180  

Vail Resorts, Inc.

     96        24,053  
     

 

 

 
        83,600  
     

 

 

 

Insurance - 7.2%

 

Arch Capital Group Ltd. *

     518        38,804  

Globe Life, Inc.

     315        34,522  

Progressive Corp. (The)

     106        14,011  
     

 

 

 
        87,337  
     

 

 

 

Interactive Media & Services - 2.2%

 

IAC, Inc. *

     423        26,579  
     

 

 

 

Life Sciences Tools & Services - 1.5%

 

Bio-Rad Laboratories, Inc., Class A *

     48        18,273  
     

 

 

 

Machinery - 1.9%

 

Otis Worldwide Corp.

     250        22,264  
     

 

 

 

Media - 6.7%

 

Cable One, Inc.

     44        28,695  

News Corp., Class A

     1,292        25,188  

Omnicom Group, Inc.

     279        26,518  
     

 

 

 
        80,401  
     

 

 

 

Real Estate Management & Development - 1.2%

 

Jones Lang LaSalle, Inc. *

     91        14,117  
     

 

 

 

Semiconductors & Semiconductor Equipment - 4.2%

 

Analog Devices, Inc.

     261        50,777  
     

 

 

 

Software - 1.9%

 

Check Point Software Technologies Ltd. *(1)

     181        22,726  
     

 

 

 

Specialized REITs - 4.3%

 

Lamar Advertising Co., Class A

     311        30,916  

Public Storage

     69        20,274  
     

 

 

 
        51,190  
     

 

 

 

Specialty Retail - 2.0%

 

AutoNation, Inc. *

     149        24,602  
     

 

 

 

Technology Hardware, Storage & Peripherals - 1.6%

 

NetApp, Inc.

     250        19,075  
     

 

 

 

Trading Companies & Distributors - 1.7%

 

Air Lease Corp., Class A

     478        20,010  
     

 

 

 

Total common stocks (Cost $762,191)

 

     1,181,130  
  

 

 

 

SHORT-TERM INVESTMENT - 0.7%

 

INVESTMENT COMPANY - 0.7%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $8,506)

     8,506        8,506  
     

 

 

 


Artisan Mid Cap Value Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

Total investments - 98.7% (Cost $770,697)

        1,189,636  

Other assets less liabilities - 1.3%

        15,763  
     

 

 

 

Total net assets - 100.0% #

      $ 1,205,399  
     

 

 

 

 

(1) 

The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications.

 

Security

   Country      Trading Currency  

CAE, Inc.

     Canada        USD  

Check Point Software Technologies Ltd.

     Israel        USD  

Godha Cabcon & Insulation Ltd. Escrow

     India        USD  

 

(2) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $0, or 0.0% of total net assets. See notes (B) and (C) in the accompanying notes.

(3) 

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


Artisan Mid Cap Value Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 147,925        12.4

Consumer Discretionary

     164,120        13.8  

Consumer Staples

     81,867        6.9  

Energy

     25,835        2.2  

Financials

     268,242        22.6  

Health Care

     115,307        9.7  

Industrials

     152,628        12.8  

Information Technology

     132,154        11.1  

Real Estate

     65,307        5.5  

Utilities

     27,745        2.3  

Short-Term Investment

     8,506        0.7  
  

 

 

    

 

 

 

Total investments

   $ 1,189,636        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Select Equity Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 90.2%

 

Automobiles - 3.9%

 

Harley-Davidson, Inc.

     43      $ 1,515  
     

 

 

 

Banks - 4.0%

 

Citigroup, Inc.

     34        1,580  
     

 

 

 

Broadline Retail - 3.9%

 

Alibaba Group Holding Ltd., ADR*(1)

     18        1,521  
     

 

 

 

Capital Markets - 6.2%

 

Bank of New York Mellon Corp. (The)

     37        1,657  

Charles Schwab Corp. (The)

     14        767  
     

 

 

 
        2,424  
     

 

 

 

Chemicals - 5.2%

 

Axalta Coating Systems Ltd. *

     62        2,022  
     

 

 

 

Construction Materials - 5.0%

 

HeidelbergCement AG(1)(2)

     24        1,946  
     

 

 

 

Consumer Finance - 5.2%

 

American Express Co.

     12        2,034  
     

 

 

 

Financial Services - 5.6%

 

Berkshire Hathaway, Inc., Class B *

     6        2,181  
     

 

 

 

Food Products - 5.0%

 

Danone SA(1)(2)

     32        1,952  
     

 

 

 

Health Care Equipment & Supplies - 4.6%

 

Dentsply Sirona, Inc.

     45        1,791  
     

 

 

 

Health Care Providers & Services - 5.0%

 

Elevance Health, Inc.

     4        1,935  
     

 

 

 

Hotels, Restaurants & Leisure - 8.1%

 

Aramark

     42        1,809  

Expedia Group, Inc. *

     12        1,363  
     

 

 

 
        3,172  
     

 

 

 

Insurance - 6.8%

 

Marsh & McLennan Cos., Inc.

     6        1,151  

Progressive Corp. (The)

     11        1,514  
     

 

 

 
        2,665  
     

 

 

 

Interactive Media & Services - 10.8%

 

Alphabet, Inc., Class A *

     17        2,010  

Meta Platforms, Inc., Class A *

     8        2,185  
     

 

 

 
        4,195  
     

 

 

 

Passenger Airlines - 2.5%

 

Southwest Airlines Co.

     27        980  
     

 

 

 

Semiconductors & Semiconductor Equipment - 3.0%

 

Lam Research Corp.

     2        1,185  
     

 

 

 

Technology Hardware, Storage & Peripherals - 5.4%

 

Samsung Electronics Co. Ltd.(1)(2)

     38        2,110  
     

 

 

 

Total common stocks (Cost $30,140)

 

     35,208  
  

 

 

 

SHORT-TERM INVESTMENT - 9.4%

 

INVESTMENT COMPANY - 9.4%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $3,667)

     3,667        3,667  
     

 

 

 

Total investments - 99.6% (Cost $33,807)

 

     38,875  

Other assets less liabilities - 0.4%

 

     141  
  

 

 

 

Total net assets - 100.0% #

 

   $ 39,016  
  

 

 

 


Artisan Select Equity Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications.

 

Security

   Country    Trading Currency

Alibaba Group Holding Ltd.

   China    USD

Danone SA

   France    EUR

HeidelbergCement AG

   Germany    EUR

Samsung Electronics Co. Ltd.

   South Korea    KRW

 

(2) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $6,008, or 15.4% of total net assets. See notes (B) and (C) in the accompanying notes.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 4,195        10.8

Consumer Discretionary

     6,208        16.0  

Consumer Staples

     1,952        5.0  

Financials

     10,884        28.0  

Health Care

     3,726        9.6  

Industrials

     980        2.5  

Information Technology

     3,295        8.5  

Materials

     3,968        10.2  

Short-Term Investment

     3,667        9.4  
  

 

 

    

 

 

 

Total investments

   $ 38,875        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

EUR

   $ 3,898        10.0

KRW

     2,110        5.4  

USD

     32,867        84.6  
  

 

 

    

 

 

 

Total investments

   $ 38,875        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Small Cap Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 98.2%

 

Biotechnology - 20.8%

 

Argenx SE, ADR *(1)

     231      $ 90,163  

Ascendis Pharma A/S, ADR *(1)

     661        58,973  

Avid Bioservices, Inc. *

     809        11,298  

Denali Therapeutics, Inc. *

     226        6,657  

Exact Sciences Corp. *

     449        42,208  

Halozyme Therapeutics, Inc. *

     2,627        94,744  

Iovance Biotherapeutics, Inc. *

     2,436        17,147  

Twist Bioscience Corp. *

     1,000        20,465  

Veracyte, Inc. *

     1,914        48,762  
     

 

 

 
        390,417  
     

 

 

 

Broadline Retail - 1.8%

 

Etsy, Inc. *

     177        14,948  

Global-e Online Ltd. *(1)

     448        18,356  
     

 

 

 
        33,304  
     

 

 

 

Building Products - 2.2%

 

Advanced Drainage Systems, Inc.

     150        17,120  

Trex Co., Inc. *

     381        24,994  
     

 

 

 
        42,114  
     

 

 

 

Capital Markets - 1.0%

 

MarketAxess Holdings, Inc.

     70        18,394  
     

 

 

 

Construction & Engineering - 4.2%

 

Valmont Industries, Inc.

     270        78,670  
     

 

 

 

Diversified Consumer Services - 0.7%

 

Duolingo, Inc. *

     90        12,860  
     

 

 

 

Electrical Equipment - 1.9%

 

Generac Holdings, Inc. *

     77        11,528  

Shoals Technologies Group, Inc., Class A *

     938        23,963  
     

 

 

 
        35,491  
     

 

 

 

Electronic Equipment, Instruments & Components - 3.7%

 

Novanta, Inc. *

     379        69,743  
     

 

 

 

Financial Services - 0.5%

 

Shift4 Payments, Inc., Class A *

     125        8,474  
     

 

 

 

Food Products - 0.6%

 

Freshpet, Inc. *

     177        11,678  
     

 

 

 

Ground Transportation - 0.6%

 

Saia, Inc. *

     30        10,423  
     

 

 

 

Health Care Equipment & Supplies - 7.7%

 

Envista Holdings Corp. *

     403        13,651  

iRhythm Technologies, Inc. *

     257        26,838  

Penumbra, Inc. *

     44        14,987  

Shockwave Medical, Inc. *

     310        88,371  
     

 

 

 
        143,847  
     

 

 

 

Hotels, Restaurants & Leisure - 5.5%

 

Cava Group, Inc. *

     56        2,276  

Papa John’s International, Inc.

     401        29,598  

Wingstop, Inc.

     355        71,047  
     

 

 

 
        102,921  
     

 

 

 

Life Sciences Tools & Services - 1.5%

 

Repligen Corp. *

     205        29,030  
     

 

 

 

Machinery - 1.9%

 

John Bean Technologies Corp.

     81        9,811  

Kornit Digital Ltd. *(1)

     250        7,339  

SPX Technologies, Inc. *

     221        18,774  
     

 

 

 
        35,924  
     

 

 

 

Professional Services - 2.7%

 

Ceridian HCM Holding, Inc. *

     503        33,684  

Paycor HCM, Inc. *

     712        16,843  
     

 

 

 
        50,527  
     

 

 

 

Semiconductors & Semiconductor Equipment - 16.6%

 

Allegro MicroSystems, Inc. *(1)

     925        41,763  

Ambarella, Inc. *

     135        11,325  

Lattice Semiconductor Corp. *

     1,618        155,442  

MACOM Technology Solutions Holdings, Inc. *

     327        21,439  

Monolithic Power Systems, Inc.

     144        77,756  

Rambus, Inc. *

     70        4,485  
     

 

 

 
        312,210  
     

 

 

 

Software - 20.4%

 

Bentley Systems, Inc., Class B

     744        40,371  

Blackline, Inc. *

     889        47,829  

Clearwater Analytics Holdings, Inc., Class A *

     1,297        20,576  

DoubleVerify Holdings, Inc. *

     1,193        46,445  

Guidewire Software, Inc. *

     754        57,330  

HashiCorp, Inc., Class A *

     461        12,082  

HubSpot, Inc. *

     35        18,708  

Model N, Inc. *

     195        6,895  

Olo, Inc., Class A *

     1,132        7,312  

Procore Technologies, Inc. *

     112        7,262  

Smartsheet, Inc., Class A *

     223        8,520  

Sprout Social, Inc., Class A *

     220        10,178  

Tyler Technologies, Inc. *

     117        48,891  

Workiva, Inc., Class A *

     494        50,182  
     

 

 

 
        382,581  
     

 

 

 

Specialty Retail - 3.2%

 

Five Below, Inc. *

     114        22,460  

Floor & Decor Holdings, Inc., Class A *

     367        38,186  
     

 

 

 
        60,646  
     

 

 

 

Textiles, Apparel & Luxury Goods - 0.7%

 

Crocs, Inc. *

     112        12,647  
     

 

 

 

Total common stocks (Cost $1,193,309)

 

     1,841,901  
  

 

 

 

Total investments - 98.2% (Cost $1,193,309)

 

     1,841,901  

Other assets less liabilities - 1.8%

 

     33,822  
  

 

 

 

Total net assets - 100.0% #

 

   $ 1,875,723  
  

 

 

 


Artisan Small Cap Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications.

 

Security

   Country    Trading Currency

Allegro MicroSystems, Inc.

   Japan    USD

Argenx SE

   Netherlands    USD

Ascendis Pharma A/S

   Denmark    USD

Global-e Online Ltd.

   Israel    USD

Kornit Digital Ltd.

   Israel    USD

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Consumer Discretionary

   $ 222,378        12.1

Consumer Staples

     11,678        0.6

Financials

     26,869        1.5

Health Care

     563,293        30.6

Industrials

     253,149        13.7

Information Technology

     764,534        41.5
  

 

 

    

 

 

 

Total investments

   $ 1,841,901        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Sustainable Emerging Markets Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 94.1%

 

Argentina - 0.2%

 

Loma Negra Cia Industrial Argentina SA, ADR 

     30      $ 203  
     

 

 

 

Brazil - 10.5%

 

Aeris Industria E Comercio De Equipamentos Para Geracao De Energia SA *

     762        210  

GPS Participacoes e Empreendimentos SA (1)

     616        2,173  

Itau Unibanco Holding SA (Preference)

     354        2,097  

Lojas Renner SA

     234        978  

MercadoLibre, Inc. *

     2        2,502  

Vale SA

     128        1,715  
     

 

 

 
        9,675  
     

 

 

 

Chile - 2.1%

 

Empresa Nacional de Telecomunicaciones SA

     232        932  

Vina Concha y Toro SA

     888        1,034  
     

 

 

 
        1,966  
     

 

 

 

China - 22.3%

 

Alibaba Group Holding Ltd. *(2)

     289        3,003  

Baidu, Inc., Class A *(2)

     79        1,354  

China Traditional Chinese Medicine Holdings Co. Ltd. (2)

     5,039        2,355  

Estun Automation Co. Ltd., Class A *(2)

     732        2,830  

Kingsoft Cloud Holdings Ltd., ADR *(6)

     68        414  

NIO, Inc., ADR *

     62        598  

Noah Holdings Ltd., ADR

     28        390  

Prosus NV *(2)

     32        2,342  

Tongwei Co. Ltd., Class A (2)

     117        553  

Trip.com Group Ltd. *(2)

     35        1,232  

Wuhan Raycus Fiber Laser Technologies Co. Ltd., Class A *(2)

     240        1,006  

Wuxi Biologics Cayman, Inc. *(2)(3)

     353        1,701  

Xiabuxiabu Catering Management China Holdings Co. Ltd. (2)(3)

     1,010        477  

Zhuzhou CRRC Times Electric Co. Ltd., Class H (2)

     641        2,397  
     

 

 

 
        20,652  
     

 

 

 

Greece - 2.9%

 

Alpha Services & Holdings SA *(2)

     677        1,110  

Mytilineos SA (2)

     46        1,608  
     

 

 

 
        2,718  
     

 

 

 

Hong Kong - 1.5%

 

AIA Group Ltd. (2)

     134        1,372  
     

 

 

 

India - 9.5%

 

Havells India Ltd. (2)

     102        1,595  

ICICI Bank Ltd. (2)

     272        3,105  

Infosys Ltd. (2)

     106        1,717  

Reliance Industries Ltd. (2)

     77        2,396  
     

 

 

 
        8,813  
     

 

 

 

Indonesia - 2.3%

 

Bank Rakyat Indonesia Persero Tbk. PT (2)

     3,877        1,409  

Indofood CBP Sukses Makmur Tbk. PT (2)

     1,007        761  
     

 

 

 
        2,170  
     

 

 

 

Kazakhstan - 1.9%

 

Kaspi.KZ JSC, GDR (2)(3)

     22        1,766  
     

 

 

 

Malaysia - 1.7%

 

Frontken Corp. Bhd. (2)

     960        650  

Public Bank Bhd. (2)

     1,153        953  
     

 

 

 
        1,603  
     

 

 

 

Mexico - 3.1%

 

Cemex SAB de CV *

     1,519        1,074  

Gentera SAB de CV

     964        1,031  

Vista Energy SAB de CV, ADR *

     33        794  
     

 

 

 
        2,899  
     

 

 

 

Peru - 1.3%

 

Credicorp Ltd.

     8        1,171  
     

 

 

 

Poland - 1.1%

 

InPost SA *(2)

     93        1,013  
     

 

 

 

Russia - 0.0%

 

LUKOIL PJSC, ADR *(2)(4)(5)

     19        —    

MMC Norilsk Nickel PJSC, ADR *(2)(4)(5)

     39        —    

Sberbank of Russia PJSC (2)(4)(5)

     265        —    
     

 

 

 
        —    
     

 

 

 

Singapore - 0.4%

 

Sea Ltd., ADR *

     7        387  
     

 

 

 

South Africa - 3.1%

 

FirstRand Ltd. (2)

     393        1,434  

MTN Group Ltd. (2)

     189        1,390  
     

 

 

 
        2,824  
     

 

 

 

South Korea - 11.5%

 

HYBE Co. Ltd. *(2)

     7        1,472  

Samsung Biologics Co. Ltd. *(2)(3)

     3        1,464  

Samsung Electronics Co. Ltd. (2)

     124        6,842  

Shinhan Financial Group Co. Ltd. (2)

     32        822  
     

 

 

 
        10,600  
     

 

 

 

Taiwan - 15.0%

 

E Ink Holdings, Inc. (2)

     342        2,489  

MediaTek, Inc. (2)

     106        2,348  

Taiwan Semiconductor Manufacturing Co. Ltd. (2)

     483        8,994  
     

 

 

 
        13,831  
     

 

 

 

Thailand - 0.7%

 

Bangkok Bank PCL (2)

     154        696  
     

 

 

 

United Arab Emirates - 0.7%

 

ADNOC Logistics & Services *(2)

     190        158  


Artisan Sustainable Emerging Markets Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

Americana Restaurants International plc (2)

     421        484  
     

 

 

 
        642  
     

 

 

 

United States - 1.0%

 

Globant SA *

     5        890  
     

 

 

 

Vietnam - 1.3%

 

Vietnam Technological & Commercial Joint Stock Bank *(2)

     879        1,208  
     

 

 

 

Total common stocks (Cost $73,631)

 

     87,099  
  

 

 

 

SHORT-TERM INVESTMENT - 4.5%

 

INVESTMENT COMPANY - 4.5%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97%(7) (Cost $4,125)

     4,125        4,125  
     

 

 

 

Total investments - 98.6% (Cost $77,756)

 

     91,224  

Other assets less liabilities - 1.4%

 

     1,257  
  

 

 

 

Total net assets - 100.0% #

 

   $ 92,481  
  

 

 

 

 

(1) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers.

(2) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $68,506, or 74.1% of total net assets. See notes (B) and (C) in the accompanying notes.

(3) 

Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At June 30, 2023, the value of these securities was $5,408 or 5.8% of net assets.

(4) 

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

(5)

Security is restricted.

 

Security

   Acquisition Date    Cost      Value      Percentage of
Total Net Assets
 

LUKOIL PJSC

   11/27/2008 - 12/23/2021    $ 1,026      $ —          0.0

MMC Norilsk Nickel PJSC

   09/25/2013 - 12/23/2021      737        —          0.0

Sberbank of Russia PJSC

   01/08/2019 - 03/25/2020      772        —          0.0

 

(6) 

All or a portion of security is on loan at June 30, 2023.

(7) 

Security is partially used as collateral for securities lending. At June 30, 2023, the Portfolio had loaned securities with a total value of $361. This was collateralized by cash of $369 which was subsequently invested in an investment company.


Artisan Sustainable Emerging Markets Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 5,535        6.1

Consumer Discretionary

     11,616        12.7  

Consumer Staples

     1,795        2.0  

Energy

     3,348        3.7  

Financials

     18,564        20.3  

Health Care

     5,520        6.0  

Industrials

     12,476        13.7  

Information Technology

     25,253        27.7  

Materials

     2,992        3.3  

Short-Term Investment

     4,125        4.5  
  

 

 

    

 

 

 

Total investments

   $ 91,224        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

AED

   $ 642        0.7

BRL

     7,173        7.9  

CLP

     1,966        2.1  

CNY

     4,389        4.8  

EUR

     6,073        6.6  

HKD

     13,891        15.2  

IDR

     2,170        2.4  

INR

     8,813        9.7  

KRW

     10,600        11.6  

MXN

     2,105        2.3  

MYR

     1,603        1.8  

RUB

     —          0.0  

THB

     696        0.8  

TWD

     13,831        15.2  

USD

     13,240        14.5  

VND

     1,208        1.3  

ZAR

     2,824        3.1  
  

 

 

    

 

 

 

Total investments

   $ 91,224        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Value Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 94.6%

 

Aerospace & Defense - 7.2%

 

Airbus SE (1)(2)

     59      $ 8,551  

Northrop Grumman Corp.

     10        4,578  

Safran SA (1)(2)

     50        7,907  
     

 

 

 
        21,036  
     

 

 

 

Air Freight & Logistics - 3.5%

 

FedEx Corp.

     42        10,310  
     

 

 

 

Banks - 7.6%

 

Bank of America Corp.

     248        7,120  

PNC Financial Services Group, Inc. (The)

     57        7,211  

US Bancorp

     239        7,888  
     

 

 

 
        22,219  
     

 

 

 

Beverages - 2.6%

 

Heineken Holding NV (1)(2)

     86        7,485  
     

 

 

 

Capital Markets - 6.6%

 

CME Group, Inc.

     37        6,825  

Goldman Sachs Group, Inc. (The)

     18        5,718  

Morgan Stanley

     79        6,773  
     

 

 

 
        19,316  
     

 

 

 

Energy Equipment & Services - 2.9%

 

Schlumberger Ltd.

     171        8,388  
     

 

 

 

Entertainment - 7.6%

 

Electronic Arts, Inc.

     42        5,457  

Netflix, Inc. *

     18        8,101  

Walt Disney Co. (The) *

     62        5,504  

Warner Bros Discovery, Inc. *

     255        3,196  
     

 

 

 
        22,258  
     

 

 

 

Financial Services - 7.0%

 

Berkshire Hathaway, Inc., Class B *

     16        5,569  

Fiserv, Inc. *

     54        6,810  

Visa, Inc., Class A

     35        8,256  
     

 

 

 
        20,635  
     

 

 

 

Health Care Equipment & Supplies - 7.2%

 

Baxter International, Inc.

     167        7,624  

Koninklijke Philips NV *(1)(2)

     266        5,759  

Medtronic plc

     89        7,865  
     

 

 

 
        21,248  
     

 

 

 

Health Care Providers & Services - 2.6%

 

Cigna Group (The)

     27        7,585  
     

 

 

 

Hotels, Restaurants & Leisure - 7.8%

 

Booking Holdings, Inc. *

     2        6,500  

Compass Group plc (1)(2)

     310        8,676  

Marriott International, Inc., Class A

     41        7,573  
     

 

 

 
        22,749  
     

 

 

 

Insurance - 3.4%

 

Arch Capital Group Ltd. *

     133        9,951  
     

 

 

 

Interactive Media & Services - 8.6%

 

Alphabet, Inc., Class C *

     95        11,433  

Meta Platforms, Inc., Class A *

     48        13,719  
     

 

 

 
        25,152  
     

 

 

 

Media - 3.3%

 

Comcast Corp., Class A

     235        9,768  
     

 

 

 

Oil, Gas & Consumable Fuels - 2.9%

 

EOG Resources, Inc.

     74        8,485  
     

 

 

 

Pharmaceuticals - 2.0%

 

Merck & Co., Inc.

     52        5,983  
     

 

 

 

Semiconductors & Semiconductor Equipment - 1.5%

 

NXP Semiconductors NV (1)

     22        4,493  
     

 

 

 

Specialty Retail - 1.4%

 

AutoNation, Inc. *

     26        4,221  
     

 

 

 

Technology Hardware, Storage & Peripherals - 2.3%

 

Samsung Electronics Co. Ltd. (Preference) (1)(2)

     151        6,844  
     

 

 

 

Tobacco - 4.9%

 

Altria Group, Inc.

     144        6,536  

Philip Morris International, Inc.

     80        7,831  
     

 

 

 
        14,367  
     

 

 

 

Trading Companies & Distributors - 1.7%

 

Air Lease Corp., Class A

     120        5,027  
     

 

 

 

Total common stocks (Cost $188,908)

 

     277,520  
  

 

 

 

SHORT-TERM INVESTMENT - 4.9%

 

INVESTMENT COMPANY - 4.9%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97% (Cost $14,504)

     14,504        14,504  
     

 

 

 

Total investments - 99.5% (Cost $203,412)

 

     292,024  

Other assets less liabilities - 0.5%

 

     1,533  
  

 

 

 

Total net assets - 100.0% #

 

   $ 293,557  
  

 

 

 


Artisan Value Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications.

 

Security

   Country    Trading Currency

Airbus SE

   France    EUR

Compass Group plc

   United Kingdom    GBP

Heineken Holding NV

   Netherlands    EUR

Koninklijke Philips NV

   Netherlands    EUR

NXP Semiconductors NV

   China    USD

Safran SA

   France    EUR

Samsung Electronics Co. Ltd.

   South Korea    KRW

 

(2) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $45,222, or 15.4% of total net assets. See notes (B) and (C) in the accompanying notes.

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 57,177        19.6

Consumer Discretionary

     26,971        9.2  

Consumer Staples

     21,852        7.5  

Energy

     16,872        5.8  

Financials

     72,121        24.7  

Health Care

     34,816        11.8  

Industrials

     36,373        12.5  

Information Technology

     11,338        3.9  

Short-Term Investment

     14,504        5.0  
  

 

 

    

 

 

 

Total investments

   $ 292,024        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

EUR

   $ 29,702        10.2

GBP

     8,676        3.0  

KRW

     6,844        2.3  

USD

     246,802        84.5  
  

 

 

    

 

 

 

Total investments

   $ 292,024        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Artisan Value Income Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Principal amount, shares and dollar values in thousands

 

     Shares Held      Value  

COMMON STOCKS - 86.0%

 

Aerospace & Defense - 3.3%

 

Airbus SE (1)(2)

     1      $ 169  

Safran SA (1)(2)

     1        195  
     

 

 

 
        364  
     

 

 

 

Banks - 10.7%

 

Bank of America Corp.

     7        208  

Comerica, Inc.

     2        102  

Fifth Third Bancorp

     5        140  

M&T Bank Corp.

     1        181  

PNC Financial Services Group, Inc. (The)

     2        189  

US Bancorp

     6        203  

Washington Federal, Inc.

     6        166  
     

 

 

 
        1,189  
     

 

 

 

Beverages - 4.7%

 

Coca-Cola Co. (The)

     4        215  

Heineken Holding NV (1)(2)

     4        313  
     

 

 

 
        528  
     

 

 

 

Capital Markets - 5.4%

 

CME Group, Inc.

     1        246  

Moelis & Co., Class A

     4        178  

Morgan Stanley

     2        176  
     

 

 

 
        600  
     

 

 

 

Consumer Staples Distribution & Retail - 1.3%

 

Sysco Corp.

     2        145  
     

 

 

 

Diversified Consumer Services - 1.3%

 

H&R Block, Inc. (3)

     5        147  
     

 

 

 

Electric Utilities - 6.4%

 

IDACORP, Inc.

     1        145  

OGE Energy Corp.

     6        231  

Portland General Electric Co. (3)

     3        150  

PPL Corp.

     7        189  
     

 

 

 
        715  
     

 

 

 

Electrical Equipment - 2.5%

 

nVent Electric plc

     5        281  
     

 

 

 

Financial Services - 3.9%

 

Corebridge Financial, Inc.

     11        201  

Visa, Inc., Class A

     1        227  
     

 

 

 
        428  
     

 

 

 

Food Products - 2.0%

 

Tyson Foods, Inc., Class A

     4        221  
     

 

 

 

Gas Utilities - 1.7%

 

Atmos Energy Corp.

     2        189  
     

 

 

 

Health Care Equipment & Supplies - 6.4%

 

Baxter International, Inc.

     5        241  

Koninklijke Philips NV *(1)(2)

     7        161  

Medtronic plc

     4        312  
     

 

 

 
        714  
     

 

 

 

Health Care REITs - 1.3%

 

Universal Health Realty Income Trust

     3        141  
     

 

 

 

Hotels, Restaurants & Leisure - 4.1%

 

Compass Group plc (1)(2)

     9        251  

Vail Resorts, Inc.

     1        203  
     

 

 

 
        454  
     

 

 

 

Machinery - 2.5%

 

Otis Worldwide Corp.

     3        277  
     

 

 

 

Media - 7.4%

 

Cable One, Inc.

     –^        184  

Comcast Corp., Class A

     10        402  

Omnicom Group, Inc.

     2        231  
     

 

 

 
        817  
     

 

 

 

Oil, Gas & Consumable Fuels - 2.5%

 

EOG Resources, Inc.

     2        283  
     

 

 

 

Pharmaceuticals - 1.8%

 

Merck & Co., Inc.

     2        201  
     

 

 

 

Specialized REITs - 5.6%

 

Lamar Advertising Co., Class A

     4        377  

Public Storage

     1        246  
     

 

 

 
        623  
     

 

 

 

Technology Hardware, Storage & Peripherals - 4.7%

 

NetApp, Inc.

     3        252  

Samsung Electronics Co. Ltd. (Preference) (1)(2)

     6        267  
     

 

 

 
        519  
     

 

 

 

Tobacco - 6.5%

 

Altria Group, Inc.

     8        357  

Philip Morris International, Inc.

     4        366  
     

 

 

 
        723  
     

 

 

 

Total common stocks (Cost $9,770)

 

     9,559  
  

 

 

 
     Principal
Amount
        

CORPORATE BONDS - 6.5%

 

Aerospace & Defense - 2.0%

 

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

   $ 227        221  
     

 

 

 

Banks - 1.7%

 

M&T Bank Corp. Series E, (ICE LIBOR USD 3 Month + 3.61%), 6.45%, 2/15/2024 (4)(5)

     116        107  

Wells Fargo & Co. Series S, 5.90%, 6/15/2024 (4)

     84        83  
     

 

 

 
        190  
     

 

 

 

Broadline Retail - 1.4%

 

ANGI Group LLC 3.88%, 8/15/2028 (6)

     188        154  
     

 

 

 


Artisan Value Income Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

Principal amount, shares and dollar values in thousands

 

Trading Companies & Distributors - 1.4%

 

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

     238        155  
     

 

 

 

Total corporate bonds (Cost $758)

 

     720  
  

 

 

 

CONVERTIBLE BONDS - 2.5%

 

Media - 1.2%

 

Cable One, Inc.

 

  

Zero Coupon, 3/15/2026

     87        71  

1.13%, 3/15/2028

     79        59  
     

 

 

 
        130  
     

 

 

 

Mortgage Real Estate Investment Trusts (REITs) - 1.3%

 

Redwood Trust, Inc. 7.75%, 6/15/2027

     178        150  
     

 

 

 

Total convertible bonds (Cost $307)

 

     280  
  

 

 

 
     Shares Held         

SHORT-TERM INVESTMENTS - 4.3%

 

INVESTMENT COMPANIES - 4.3%

 

BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class, 4.97%

     161        161  

Federated Treasury Obligations Fund - Institutional Class, 4.96%

     157        157  

Fidelity Investments Money Market Treasury Portfolio - Institutional Class, 5.03%

     156        156  
     

 

 

 

Total short-term investments (Cost $474)

 

     474  
  

 

 

 

Total investments - 99.3% (Cost $11,309)

 

     11,033  

WRITTEN OPTION CONTRACTS - (0.2)% (Premiums received $(11))

 

     (19

Other assets less liabilities - 0.9%

 

     95  
  

 

 

 

Total net assets - 100.0% #

 

   $ 11,109  
  

 

 

 


Artisan Value Income Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

 

(1) 

The Fund considers the company to be from outside the United States. See the Fund’s Statement of Additional Information for a description of the methodology used for country classifications.

 

Security

   Country    Trading Currency

Airbus SE

   France    EUR

Compass Group plc

   United Kingdom    GBP

Heineken Holding NV

   Netherlands    EUR

Koninklijke Philips NV

   Netherlands    EUR

Safran SA

   France    EUR

Samsung Electronics Co. Ltd.

   South Korea    KRW

 

(2) 

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. In total, securities valued at a fair value were $1,356, or 12.2% of total net assets. See notes (B) and (C) in the accompanying notes.

(3) 

At June 30, 2023, all or a portion of this security was pledged to cover collateral requirements for written options.

(4) 

Perpetual security. The rate reflected was the rate in effect on June 30, 2023. The maturity date reflects the next call date.

(5) 

Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the current rate as of June 30, 2023.

(6) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. May be resold in transactions exempt from registration, normally to qualified institutional buyers.

WRITTEN OPTION CONTRACTS    

Call Options

Dollar values in thousands except exercise price    

 

Number of
Contracts
  

Description

   Exercise
Price
     Notional
Amount
     Expiration
Date
     Premiums
Paid/(Received)
by Fund
     Value      Unrealized
Appreciation/
(Depreciation)
 
2    Airbus SE      EUR 140.00      $ 26        12/15/23      $ (1    $ (1    $ —   ^ 
1    Compass Group plc      GBP 23.00        22        10/20/23        (1      (1      —   ^ 
6    Moelis & Co.    $ 45.00        27        8/18/23        (2      (2      —   ^ 
5    NetApp, Inc.      70.00        38        9/15/23        (1      (4      (3
6    nVent Electric plc      45.00        31        8/18/23        (1      (5      (4
5    nVent Electric plc      50.00        26        11/17/23        (2      (2      —   ^ 
5    Omnicom Group, Inc.      95.00        48        1/19/24        (3      (4      (1
1    Safran SA      EUR 150.00        14        9/15/23        —   ^       —   ^       —   ^ 
1    Visa, Inc.      250.00        24        9/15/23        —   ^       —   ^       —   ^ 
              

 

 

    

 

 

    

 

 

 

Total written option contracts

     $ (11    $ (19    $ (8
  

 

 

    

 

 

    

 

 

 


Artisan Value Income Fund

Schedule of Investments (continued)

June 30, 2023 (Unaudited)

 

PORTFOLIO DIVERSIFICATION

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

Communication Services

   $ 947        8.6

Consumer Discretionary

     754        6.8  

Consumer Staples

     1,617        14.6  

Energy

     283        2.6  

Financials

     2,559        23.2  

Health Care

     915        8.3  

Industrials

     1,297        11.8  

Information Technology

     519        4.7  

Real Estate

     764        6.9  

Utilities

     904        8.2  

Short-Term Investments

     474        4.3  
  

 

 

    

 

 

 

Total investments

   $ 11,033        100.0
  

 

 

    

 

 

 

TRADING CURRENCIES

Dollar values in thousands

 

     Value      Percentage of
Total Investments
 

EUR

   $ 837        7.6

GBP

     251        2.3  

KRW

     267        2.4  

USD

     9,678        87.7  
  

 

 

    

 

 

 

Total investments

   $ 11,033        100.0
  

 

 

    

 

 

 

Definitions of abbreviations and footnotes are detailed on page 1.

See notes to N-PORT Part F.


Notes to N-PORT Part F – June 30, 2023 (UNAUDITED)

As of June 30, 2023, Artisan Partners Funds, Inc. (“Artisan Partners Funds”) is a series company comprised of twenty-one series and follows specialized accounting and reporting under FASB Accounting Standards Codification Topic 946, Financial Services – Investment Companies.

(A) Investments in Subsidiaries:

Emerging Markets Debt Opportunities Fund and Global Unconstrained Fund may make investments in securities, derivatives and other instruments, directly or through investments in Artisan Emerging Markets Debt Opportunities Subsidiary Ltd. and Artisan Global Unconstrained Subsidiary Ltd., respectively, each a wholly owned subsidiary of the respective Fund organized under the laws of the Cayman Islands (each referred to herein as the “Subsidiary” or collectively the “Subsidiaries”). The consolidated Schedules of Investments include the holdings of the Fund and its Subsidiary. All intercompany transactions and balances have been eliminated. As of June 30, 2023, Artisan Emerging Markets Debt Opportunities Subsidiary Ltd. had $1,150,015 in net assets, representing 3.49% of Emerging Markets Debt Opportunities Fund’s net assets and Artisan Global Unconstrained Subsidiary Ltd. had $965,298 in net assets, representing 3.64% of Global Unconstrained Fund’s net assets.

(B) Valuation:

The net asset value (“NAV”) of the shares of each class of each Fund was determined as of the close of regular session trading on the New York Stock Exchange (“NYSE”) (usually 4:00 p.m., Eastern Time) each day the NYSE was open for regular session trading. For financial reporting purposes, information available subsequent to the close of NYSE trading and up to the date of the financial statements was considered in determining a fair value for investments held in each Fund and the resulting NAV presented.

In determining each Fund’s NAV for financial reporting purposes, each equity security and exchange traded fund (“ETF”) traded on a securities exchange or over-the-counter was valued at the closing price on the exchange or market designated by the Funds’ accounting agent or pricing vendor as the principal exchange (each, a “principal exchange”). The closing price provided by the pricing vendor for an exchange may differ from the price quoted elsewhere and may represent information such as last sales price, an official closing price, a closing auction price or other information, depending on exchange or market convention. Absent closing price information for an equity security from the principal exchange, the security was valued using (i) the closing price on another exchange on which the security traded (if such price was made available by a pricing vendor) or (ii) the most recent bid quotation on the principal exchange or, if such bid was not available, from a secondary exchange or in the over-the-counter market. Equity-linked securities, such as participation certificates, participation notes or access notes, are valued by referencing the underlying security if market quotations are not readily available. Repurchase agreements and reverse repurchase agreements are valued at cost plus accrued interest. Exchange traded


Notes to N-PORT Part F – June 30, 2023 (UNAUDITED) - (continued)

 

option contracts were valued at the mid price (average of the bid price and ask price) as provided by the pricing vendor at the close of trading on the contract’s principal exchange. Exchange traded futures contracts were valued at the settlement price as provided by the pricing vendor at the close of trading on the principal exchange. Over-the-counter derivatives (including total return swaps, over-the-counter options on total return swaps, and certain other derivatives) are valued using prices provided by the Funds’ pricing vendors. Prices obtained from independent pricing services may use various observable and unobservable inputs, including, but not limited to, information provided by broker-dealers, pricing formulas, estimates of market values obtained from data relating to investments or securities with similar characteristics and/or discounted cash flow or spread curve models that might be applicable. Shares of open-end investment companies (excluding exchange traded funds) were valued at the latest net asset value reported by the investment company.

Fixed income securities, including loan participation notes, were valued at market value. Market values were generally evaluations based on the judgment of the Funds’ pricing vendors, which may consider, among other factors, the prices at which securities actually trade, broker-dealer quotations, pricing formulas, estimates of market values obtained from yield data relating to investments or securities with similar characteristics and/or discounted cash flow models that might be applicable.

A new rule adopted by the Securities and Exchange Commission (the “SEC”) governing fund valuation practices, Rule 2a-5 under the 1940 Act (Rule 2a-5), has established requirements for determining fair value in good faith for purposes of the 1940 Act. Rule 2a-5 permits fund boards to designate certain parties to perform fair value determinations, subject to board oversight and certain other conditions. Rule 2a-5 also defines when market quotations are “readily available” for purposes of Section 29(a)(41) of the 1940 Act, which requires a fund to fair value a security when market quotations are not readily available. Separately, new SEC Rule 31a-4 under the 1940 Act sets forth the recordkeeping requirements associated with fair value determinations. The Funds adopted a valuation policy compliant with Rule 2a-5 and Rule 31a-4 without resulting in a material impact to the Funds. Artisan Partners was designated by the board of directors as the valuation designee for the Funds pursuant to Rule 2a-5. In its capacity as valuation designee, Artisan Partners, among other things, is responsible for establishing fair valuation methodologies and determining, in good faith, the fair value of all of the assets of the Funds for which there are no readily available market quotations. Securities or other assets for which market quotations are not readily available are valued by Artisan Partners, as valuation designee, in accordance with Artisan Partners’ Procedures for Valuation of Portfolio Securities Held by Artisan Partners Funds, Inc. and under the general oversight of Artisan Partners Funds’ board of directors. A market quotation will be considered not readily available, and a Fund may therefore use fair value pricing, if there are not quoted prices (unadjusted) in active markets for identical investments that a Fund can access at the measurement date, and/or any such quotation is not reliable.


Notes to N-PORT Part F – June 30, 2023 (UNAUDITED) - (continued)

 

When fair value pricing is employed, the value of a security or asset used by a Fund to calculate its NAV may differ from quoted or published prices for the same security or asset. Estimates of fair value utilized by the Funds as described above could differ from the value realized on the sale of those securities or assets in the future and the differences may be material to the NAV of the applicable Fund.

(C) Fair Value Measurements:

Under US GAAP for fair value measurement, accounting standards clarify the definition of fair value for financial reporting, establish a framework for measuring fair value and require additional disclosures about the use of fair value measurements. In accordance with this standard, fair value is defined as the price that each Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. The standard establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on the market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Funds’ investments. The three-tier hierarchy of inputs is summarized in three broad levels:

 

   

Level 1 – unadjusted quoted prices in active markets for identical investments

   

Level 2 – other significant observable inputs (including but not limited to quoted prices for similar securities, interest rates, credit risks and securities trading primarily outside the US where the applicable trading market was closed or factors were applied to prices as a result of significant market movements following the close of local trading)

   

Level 3 – significant unobservable inputs (including the Funds’ own assumptions in determining a fair value of investments and discounts for lack of marketability)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk or liquidity associated with investing in those securities. A description of the valuation techniques for the Funds’ major classes of assets is found in Note (B). A description of the fair value leveling techniques is described below:

Equity securities, ETFs, investment companies, exchange traded options contracts and exchange traded futures contracts are generally categorized as Level 1. Bank loans, corporate bonds, equity-linked securities, foreign currency forward contracts, treasury bills, other derivatives, foreign equity securities in which the closing price or bid quotation are adjusted for significant events, or local market holidays or other unscheduled market closures, are generally categorized as Level 2. Securities fair valued in good faith by the valuation committee are generally


Notes to N-PORT Part F – June 30, 2023 (UNAUDITED) - (continued)

 

categorized as Level 2 or 3, depending on the observability of the inputs utilized.

The following table summarizes each Fund’s investments by major security type, based on the inputs used to determine their fair values as of June 30, 2023 (in thousands):

 

Fund    Level 1 - Unadjusted
Quoted Prices
   

Level 2 - Other

Significant

Observable

Inputs

   

Level 3 - Significant

Unobservable

Inputs

    Total  

Developing World

        

Common Stocks(1)

        

Americas

   $             1,368,216     $ —       $               —       $ 1,368,216  

Emerging Markets

     542,997       518,121       —         1,061,118  

Europe

     99,149       316,743       —         415,892  

Pacific Basin

     215,418       —         —         215,418  

Investment Company

     16,019       —         —         16,019  

Total Investments

   $ 2,241,799     $           834,864     $ —       $ 3,076,663  

Emerging Markets Debt Opportunities

        

Sovereign Government Bonds(1)

   $ —       $ 17,831     $ —       $ 17,831  

Corporate Bonds(1)

     —         5,253       —         5,253  

Sovereign Government Treasury Bills

     —         1,229       —         1,229  

U.S. Treasury Obligations

     —         6,311       —         6,311  

Repurchase Agreement

     —         279       —         279  

Investment Companies

     609       —         —         609  

Total Investments before security sold short

     609       30,903       —         31,512  

Corporate Bond(1)

     —         (265     —         (265

Total Investments after security sold short

     609       30,638       —         31,247  

Foreign Currency Forward Contracts(2)

     —         59       —         59  

Futures(2)

     135       —         —         135  

Centrally Cleared Credit Default Swap(2)

     —         —   (4)      —         —   (4) 

Centrally Cleared Interest Rate Swaps(2)

     —         103       —         103  

OTC Credit Default Swap(2)

     —         —   (4)      —         —   (4) 

Total

   $ 744     $ 30,800     $ —       $ 31,544  

Floating Rate

        

Bank Loans(1)

   $ —       $ 38,597     $ —       $ 38,597  

Corporate Bonds(1)

     —         3,515       —         3,515  

Warrant

     —         —   (3)      —         —   (3) 

Investment Companies

     3,854       —         —         3,854  

Total Investments

   $ 3,854     $ 42,112     $ —       $ 45,966  

Focus

        

Common Stocks(1)

   $ 1,228,327     $ 28,031     $ —       $ 1,256,358  

Options Purchased

     1,407       —         —         1,407  

Investment Company

     48,278       —         —         48,278  

Total Investments

     1,278,012       28,031       —         1,306,043  

Foreign Currency Forward Contracts(2)

     —         (1,528     —         (1,528

Written Option Contracts

     (1,484     —         —         (1,484

Total

   $ 1,276,528     $ 26,503     $ —       $ 1,303,031  

Global Discovery

        

Common Stocks(1)

        

Americas

   $ 164,840     $ —       $ —       $ 164,840  

Emerging Markets

     4,421       4,005       —         8,426  

Europe

     11,599       47,232       —         58,831  

Pacific Basin

     1,935       10,322       —         12,257  

Investment Company

     13,869       —         —         13,869  

Total Investments

   $ 196,664     $ 61,559     $ —       $ 258,223  

Global Equity

        

Common Stocks(1)

        

Americas

   $ 85,927     $ 4,955     $ —       $ 90,882  

Emerging Markets

     3,786       6,882       —   (3)      10,668  

Europe

     7,722       65,707       —         73,429  

Pacific Basin

     —         16,674       —         16,674  

Total Investments

   $ 97,435     $ 94,218     $ —   (3)    $ 191,653  

Global Opportunities

        

Common Stocks(1)

        

Americas

   $ 1,620,983     $ —       $ —       $ 1,620,983  

Emerging Markets

     52,152       32,841       —         84,993  

Europe

     49,468       722,415       —         771,883  

Pacific Basin

     —         275,207       —         275,207  

Investment Company

     89,263       —         —         89,263  

Total Investments

   $ 1,811,866     $ 1,030,463     $ —       $ 2,842,329  

Global Unconstrained

        

Sovereign Government Bonds(1)

   $ —       $ 15,435     $ —       $ 15,435  

Corporate Bonds(1)

     —         4,471       —         4,471  

Common Stock(1)

     —         412       —         412  

Exchange Traded Fund(1)

     124       —         —         124  

Options Purchased

     18       —         —         18  

Sovereign Government Treasury Bills

     —         408       —         408  

U.S. Treasury Obligations

     —         2,890       —         2,890  

Repurchase Agreements

     —         2,916       —         2,916  

Investment Companies

     444       —         —         444  

Total Investments before securities sold short

     586       26,532       —         27,118  

Common Stock(1)

     —         (137     —         (137

Corporate Bond(1)

     —         (250     —         (250

Sovereign Government Bonds(1)

     —         (2,544     —         (2,544

Total Investments after securities sold short

     586       23,601       —         24,187  

Foreign Currency Forward Contracts(2)

     —         36       —         36  

Futures(2)

     104       —         —         104  

Centrally Cleared Credit Default Swaps(2)

     —         (152     —         (152

Centrally Cleared Interest Rate Swaps(2)

     —         (86     —         (86

OTC Credit Default Swaps(2)

     —         (11     —         (11

OTC Interest Rate Swap(2)

     —         —   (4)      —         —   (4) 

Total

   $ 690     $ 23,388     $ —       $ 24,078  

Global Value

        

Common Stocks(1)

        

Americas

   $ 916,368     $ —       $ —       $ 916,368  

Emerging Markets

     —         163,027       —         163,027  

Europe

     —         892,457       —         892,457  

Pacific Basin

     —         23,404       —         23,404  

Investment Company

     108,384       —         —         108,384  

Total Investments

   $ 1,024,752     $ 1,078,888     $ —       $ 2,103,640  

High Income

        

Corporate Bonds(1)

   $ —       $ 5,161,825     $ —       $ 5,161,825  

Bank Loans(1)

     —         1,020,875       —         1,020,875  

Common Stock(1)

     —         23,415       —         23,415  

Warrant

     —         —   (3)      —         —    

Investment Company

     462,057       —         —         462,057  

Total Investments

     462,057       6,206,115       -         6,668,172  

Foreign Currency Forward Contracts(2)

     —         (83     —         (83

Total

   $ 462,057     $ 6,206,032     $ —       $ 6,668,089  

International

        

Common Stocks and Equity-Linked Security(1)

        

Americas

   $ 928,781     $ 207,784     $ —       $ 1,136,565  

Emerging Markets

     46,620       116,713       —   (3)      163,333  

Europe

     299,683       3,046,229       —         3,345,912  

Pacific Basin

     —         424,405       —         424,405  

Investment Company

     171,892       —         —         171,892  

Total Investments

   $ 1,446,976     $ 3,795,131     $ —   (3)    $ 5,242,107  

International Explorer

        

Common Stocks(1)

        

Americas

   $ 852     $ 3,212     $ —       $ 4,064  

Emerging Markets

     5,258       6,564       —         11,822  

Europe

     973       20,172       —         21,145  

Pacific Basin

     —         7,513       —         7,513  

Investment Companies

     9,825       —         —         9,825  

Total Investments

   $ 16,908     $ 37,461     $ —       $ 54,369  

International Small-Mid

        

Common Stocks(1)

        

Americas

   $ 1,003,927     $ —       $ —       $ 1,003,927  

Emerging Markets

     245,563       79,447       —         325,010  

Europe

     34,413.00       2,054,826       —         2,089,239  

Middle East

     285,320       31,504       —         316,824  

Pacific Basin

     —         544,100       —         544,100  

Investment Company

     116,331       —         —         116,331  

Total Investments

   $ 1,685,554     $ 2,709,877     $ —       $ 4,395,431  

International Value

        

Common Stocks and Equity-Linked Security(1)

        

Americas

   $ 4,097,097     $ 856,820     $ —       $ 4,953,917  

Emerging Markets

     410,530       4,321,195       103,240       4,834,965  

Europe

     589,696       15,036,996       —         15,626,692  

Pacific Basin

     —         561,065       —         561,065  

Investment Company

     2,343,495       —         —         2,343,495  

Total Investments

     7,440,818       20,776,076       103,240       28,320,134  

OTC Total Return Swap(1)

     —         139       —         139  

Total

     7,440,818       20,776,215       103,240       28,320,273  

Mid Cap

        

Common Stocks(1)

   $ 4,571,706     $ 59,734     $ —       $ 4,631,440  

Investment Company

     63,626       —         —         63,626  

Total Investments

   $ 4,635,332     $ 59,734     $ —       $ 4,695,066  

Mid Cap Value

        

Common Stocks(1)

   $ 1,181,130     $ —       $ —   (3)    $ 1,181,130  

Investment Company

     8,506       —         —         8,506  

Total Investments

   $ 1,189,636     $ —       $ —   (3)    $ 1,189,636  

Select Equity

        

Common Stocks(1)

   $ 29,200     $ 6,008     $ —       $ 35,208  

Investment Company

     3,667       —         —         3,667  

Total Investments

   $ 32,867     $ 6,008     $ —       $ 38,875  

Small Cap

        

Common Stocks(1)

   $ 1,841,901     $ —       $ —       $ 1,841,901  

Total Investments

   $ 1,841,901     $ —       $ —       $ 1,841,901  

Sustainable Emerging Markets

        

Common Stocks(1)

        

Americas

   $ 890     $ —       $ —       $ 890  

Emerging Markets

     17,316       67,134       —   (3)      84,450  

Pacific Basin

     387       1,372       —         1,759  

Investment Company

     4,125       —         —         4,125  

Total Investments

   $ 22,718     $ 68,506     $ —   (3)    $ 91,224  

Value

        

Common Stocks(1)

   $ 232,298     $ 45,222     $ —       $ 277,520  

Investment Company

     14,504       —         —         14,504  

Total Investments

   $ 246,802     $ 45,222     $ —       $ 292,024  

Value Income

        

Common Stocks(1)

   $ 8,203     $ 1,356     $ —       $ 9,559  

Corporate Bonds(1)

     —         720       —         720  

Convertible Bonds(1)

     —         280       —         280  

Investment Companies

     474       —         —         474  

Total Investments

     8,677       2,356       —         11,033  

Written Option Contracts

     (19     —         —         (19

Total

   $ 8,658     $ 2,356     $ —       $ 11,014  

 

(1) 

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

(2) 

Foreign currency forward contracts, futures contracts, OTC total return swaps and centrally cleared swap contracts are valued at unrealized appreciation (depreciation). Amounts shown above are shown as net unrealized appreciation (depreciation). See the Fund’s Schedule of Investments for additional detail.

(3) 

Valued at $0.

(4) 

Amount rounds to less than $1.

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

 

Assets

   Fair Value at June 30, 2023     Unobservable Input(s)     Impact to Fair
Value from an
Increase in Input
 

Global Equity Fund

      

Common Stocks

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

International Fund

      

Common Stocks

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

International Value Fund

      

Common Stock (preferred shares)

   $ 103,240       Mark-to-Model Approach       Increase  

Mid Cap Value Fund

      

Common Stock

   $ —   (1)     
100% discount for
uncertainty of collectability
 
 
    N/A  

Sustainable Emerging Markets Fund

      

Common Stocks

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

 

(1) 

Includes one or more securities valued at $0.

As of June 30, 2023, the reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value is as follows (in thousands):

 

    Developing World
Fund
    Emerging
Markets Debt
Opportuniites
Fund
    Global Equity
Fund
    Global
Unconstrained
Fund
    International
Fund
    International
Value Fund
    Mid Cap
Value Fund
    Sustainable
Emerging
Markets Fund
 

Balance as of September 30, 2022

  $ —   (1)    $ 1     $ —   (1)    $ 8     $ —   (1)    $ —       $ —       $ —   (1) 

Transfers into Level 3

    —         —         —         —         —         —         —         —    

Net change in unrealized appreciation (depreciation)

    48,813       9       —         5       —         3,240       —         9,727  

Purchases

    —         —   (1)      —         —   (1)      —         100,000       —   (1)      —    

Sales

    (16,768     —   (1)      —         —   (1)      —         —         —         (1,458

Realized Gain/(Loss)

    (32,045     1       —         5       —         —         —         (8,269

Transfer out of Level 3

    —         (11     —         (18     —         —         —         —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of June 30, 2023

  $ —       $ —       $ —   (1)    $ —       $ —   (1)    $ 103,240     $ —   (1)    $ —   (1) 
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net change in unrealized appreciation (depreciation) for investments held as of June 30, 2023

  $ —       $ —       $ —       $ —       $ —       $ 3,240     $ —       $ —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) 

Includes one or more securities valued at $0.

(D) Transactions in securities of affiliates:

The table below shows information about securities of Fund “affiliates” (as defined below) that were held by a Fund, purchased or sold by a Fund, or from which dividends were received by a Fund during the period ended June 30, 2023 (shares and dollar values in thousands). Each Fund identifies a company as an affiliate for the purpose of this report if the Fund owned voting securities that it believed represented 5% or more of that company’s outstanding voting securities (as defined by the 1940 Act) during the period ended June 30, 2023.

Transactions in securities of affiliates:

 

    As of 9/30/2022                             As of 6/30/2023        

Funds

  Shares
Balance
    Value     Purchases
at Cost
    Proceeds from
Sales
    Net
Realized
Gain (Loss)
    Net Increase
(Decrease) in
Unrealized
Appreciation or
Depreciation
    Share
Balance
    Value     Dividend
Income@
 

International Small-Mid Fund

                 

Carenet, Inc.†(1)

    3,363     $ 27,595     $ —       $ (11,059   $ (4,871   $ 1,130       1,952     $ 12,795     $ 128  

CKD Corp.(1)

    4,057       48,288       —         (5,774     (3,178     20,753       3,657       60,089       1,275  

Daikokutenbussan Co.
Ltd.(1)

    838       30,492       —         (2,721     (3,003     3,490       762       28,258       145  

Model N, Inc.*†

    2,003       68,548       —         (16,361     (313     3,452       1,565       55,326       —    

Ubicom Holdings, Inc.(1)

    847       12,677       —         (1,147     (1,391     (1,468     775       8,671       60  

ViewRay, Inc.*†

    11,030       40,149       —         (6,963     (3,129     (26,869     9,051       3,188       —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total#

    $ 227,749     $ —       $ (44,025   $ (15,885   $ 488       $ 97,018     $ 1,608  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

International Value Fund

                 

Arch Capital Group Ltd.*†

    23,073     $ 1,050,732     $ 56,073     $ (409,377   $ 155,396     $ 480,264       17,810     $ 1,333,088     $ —    

Berkeley Group Holdings plc(1)

    5,543       203,196       21,382       (7,673     (4,735     77,394       5,814       289,564       4,614  

Sensata Technologies Holding plc

    8,750       326,188       29,961       (19,377     (6,806     71,664       8,927       401,630       2,918  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total#

    $ 1,580,116     $ 107,416     $ (436,427   $ 143,855     $ 629,322       $ 691,194     $ 7,532  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

@

Net of foreign taxes withheld, if any.

Issuer was not an affiliate as of June 30, 2023.

*

Non-income producing security.

#

Total value as of June 30, 2023 is presented only for those issuers that were affiliates as of June 30, 2023.

(1)

Valued at a fair value in accordance with procedures established by the board of directors of Artisan Partners Funds. See notes (B) and (C) in the accompanying notes.