Artisan Partners Posts Record AUM, $10.5B in Outflows, and U.S. Value Wind-Down
APAM sits 20% above its 52-week low of $33.96.
Summary
Artisan Partners reported Q2 2026 earnings with record AUM of $183.4B, $10.5B in net outflows, and the wind-down of its U.S. Value strategies. Adjusted EPS rose 13% to $0.94, and a $0.80 dividend was declared.
Key Events · Earnings and Guidance · APAM
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Record AUM, Mixed Flows
Ending AUM reached a record $183.4 billion, up 6% sequentially, but net outflows totaled $10.5 billion, including $6.4 billion from the U.S. Value team.
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U.S. Value Wind-Down
The firm will wind down its U.S. Value business—including Mid-Cap Value, Value Equity, and Value Income strategies—and return capital to investors, a process expected to be largely complete by end of Q3 2026.
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Earnings Beat on Adjusted Basis
GAAP EPS was $1.11; adjusted EPS rose 13% year-over-year to $0.94, driven by 9% revenue growth and 120 bps of adjusted operating margin expansion to 32.9%.
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Dividend Maintained
Board declared a variable quarterly dividend of $0.80 per share, representing approximately 80% of cash generated in the quarter, payable August 31, 2026.
Analysis · APAM · Finance
Artisan Partners delivered a mixed second quarter: record quarter-end AUM of $183.4 billion and 9% revenue growth were overshadowed by net outflows surging to $10.5 billion, fueled by a $6.4 billion loss from the U.S. Value team. In a significant strategic pivot, the firm is winding down that nearly 30-year-old business. Adjusted EPS of $0.94 beat the prior-year quarter by 13%, and the board declared an $0.80 quarterly dividend, signaling confidence in cash generation despite equity flow headwinds.
At the time of this filing, APAM was trading at $40.88 on NYSE in the Finance sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $33.96 to $48.46. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.