The $5.7 billion mandate loss is a confirmed negative for AUM and future fee revenue, though the company's 'muted' characterization suggests low fee rates on this mandate. Monitor the next quarterly filing for actual revenue impact and any further mandate losses, particularly in the Value Equity strategy.
Price Chart
Executive Summary
Artisan Partners reported preliminary AUM of $186.0 billion as of May 31, 2026, but disclosed that a U.S. sub-advisory mandate representing approximately $5.7 billion in the Value Equity strategy is expected to terminate in early June 2026. The company states the revenue impact will be 'muted' due to the mandate's fee structure, but the AUM loss is material at ~3% of total AUM.
Key Facts
- Preliminary AUM as of May 31, 2026: $186.0 billion
- A $5.7 billion sub-advisory mandate in the U.S. Value Equity strategy is expected to terminate in early June 2026
- The company describes the revenue impact as 'muted' due to the mandate's fee structure
- Artisan Funds and Global Funds: $92.3 billion; separate accounts and other AUM: $93.7 billion
Financial Impact
Loss of $5.7 billion in AUM (~3% of total), with revenue impact described as muted by the company
Risk Factors
- Further mandate terminations or client redemptions in the Value Equity strategy
- Revenue decline from the lost mandate, even if muted, adds headwind to organic growth
- Negative sentiment from AUM outflow may pressure the stock in the near term
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001517302-26-000100 |
| Document: apam-20260605.htm | 0001517302-26-000100 |
| Document: 0001517302-26-000100-index-headers.html | 0001517302-26-000100 |
| Document: 0001517302-26-000100-index.html | 0001517302-26-000100 |
| Document: 0001517302-26-000100.txt | 0001517302-26-000100 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 28, 2026 9w ago | 8-K | $40.34 $43.53 | ▲ +7.91% | ▲ +2.89% | $34.88 (−13.53%) |
Jun 5, 2026 17w ago | 8-K | $34.79 $36.18 | ▼ −4.00% | ▼ −2.36% | $34.88 (−0.26%) |
Apr 28, 2026 22w ago | 8-K | $36.63 $37.99 | ▲ +3.71% | ▼ −1.75% | $34.88 (−4.78%) |
Apr 17, 2026 24w ago | DEFA14A | $37.61 $36.68 | ▼ −2.47% | ▼ −6.67% | $34.88 (−7.26%) |
Apr 10, 2026 25w ago | 8-K | $36.91 $37.61 | ▲ +1.90% | ▼ −5.83% | $34.88 (−5.50%) |
US Market Status
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