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Name

As of 04/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Artisan Value Income Fund

APFWX | Fund

$9.84

$12.3 M

2.80%

$0.27

9.08%

Vitals

YTD Return

3.0%

1 yr return

11.3%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$12.3 M

Holdings in Top 10

27.5%

52 WEEK LOW AND HIGH

$9.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 9.08%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Artisan Value Income Fund

APFWX | Fund

$9.84

$12.3 M

2.80%

$0.27

9.08%

APFWX - Profile

Distributions

  • YTD Total Return 3.0%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 2.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Artisan Value Income Fund
  • Fund Family Name
    Artisan Partners Limited Partnership
  • Inception Date
    Feb 28, 2022
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Craig Inman

Fund Description

The Fund’s investment team employs a fundamental investment process to construct a diversified portfolio of equity securities across a broad capitalization range. The team seeks to invest in companies that are undervalued, in solid financial condition and have attractive business economics. The team believes that companies with these characteristics are less likely to experience eroding values over the long term.■Attractive Valuation—The team values a business using what it believes are reasonable expectations for the long-term earnings power and capitalization rates of that business. This results in a range of values for the company that the team believes would be reasonable. The team generally will purchase a security if the stock price falls below or toward the lower end of that range.■Sound Financial Condition—The team prefers companies with an acceptable level of debt and positive cash flow. At a minimum, the team seeks to avoid companies that have so much debt that management may be unable to make decisions that would be in the best interest of the companies’ shareholders.■Attractive Business Economics—The team favors cash-producing businesses that it believes are capable of earning acceptable returns on capital over the company’s business cycle. As part of the team’s analysis of a company’s value, among other factors, the team considers certain environmental, social and governance (“ESG”) factors relating to the company. These ESG factors may include the impact of environmental regulatory change, the use of human, natural and physical resources and corporate governance structures and practices. When the team deems a factor material to the value of a company, the team incorporates it into its decision-making process.■Income Generation—The team assesses the stability and growth of a company’s dividends and examines opportunities across a company’s capital structure. The team may invest opportunistically in equity securities and other instruments that generate attractive income, as well as utilize derivatives instruments to attempt to enhance yield.Under normal circumstances, the investment team seeks to generate a portfolio current yield that is greater than or equal to two times the average current yield for stocks in the S&P 500® Index, although the portfolio current yield may be less than two times the average current yield for stocks in the S&P 500® Index at any given time. Securities in which the Fund may invest include common stocks, equity securities of real estate investment trusts (“REITs”), preferred stocks, convertible securities (including convertible bonds), depositary receipts and rights and warrants to buy common stocks. The Fund may invest up to 30% of its total assets at market value at the time of purchase in securities of non-US issuers (including depositary receipts). In addition, the Fund may invest up to 10% of its total assets at market value at the time of purchase in non-convertible fixed income securities, which may include non-convertible corporate bonds. The Fund’s investments in non-US securities may include investments in developed markets, as well as emerging and less developed markets.The Fund invests in common stocks and other securities of companies across a broad capitalization range. There is no restriction on the size of the companies in which the Fund may invest.The Fund also uses derivatives, such as options. The Fund may purchase and sell (write) call and put options on securities, securities indexes and foreign currencies. To the extent the Fund writes call options on securities that it does not hold in its portfolio (i.e., “naked” call options), it is subject to the risk that a liquid market for the underlying security may not exist at the time an option is exercised or when the Fund otherwise seeks to close out an option position. The Fund may use derivatives for any purpose consistent with its investment objective, including, without limitation, to improve expected risk-adjusted returns, to obtain economic exposure to certain issuers and to attempt to enhance income. The Fund may implement short positions, including through the use of derivative instruments, or through short sales of instruments that are eligible investments for the Fund and generally intends to use short positions to reduce exposure to certain risks and for hedging purposes. The Fund intends to use all or a portion of the proceeds from its short positions to take additional long positions or otherwise use in a manner consistent with its investment guidelines.
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APFWX - Performance

Return Ranking - Trailing

Period APFWX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% -2.9% 12.7% 95.60%
1 Yr 11.3% -8.4% 34.4% 88.82%
3 Yr N/A* -3.7% 30.2% N/A
5 Yr N/A* -1.4% 43.5% N/A
10 Yr N/A* 1.2% 24.6% N/A

* Annualized

Return Ranking - Calendar

Period APFWX Return Category Return Low Category Return High Rank in Category (%)
2023 7.8% -24.9% 46.1% 36.21%
2022 N/A -64.7% 4.6% N/A
2021 N/A -44.2% 57.5% N/A
2020 N/A -23.2% 285.0% N/A
2019 N/A -21.4% 48.5% N/A

Total Return Ranking - Trailing

Period APFWX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% -2.9% 12.7% 95.60%
1 Yr 11.3% -8.4% 34.4% 88.82%
3 Yr N/A* -3.7% 30.2% N/A
5 Yr N/A* -1.4% 43.5% N/A
10 Yr N/A* 1.2% 24.6% N/A

* Annualized

Total Return Ranking - Calendar

Period APFWX Return Category Return Low Category Return High Rank in Category (%)
2023 10.9% -15.9% 46.7% 51.63%
2022 N/A -42.0% 8.5% N/A
2021 N/A 3.6% 129.7% N/A
2020 N/A -22.6% 304.8% N/A
2019 N/A -12.7% 52.1% N/A

NAV & Total Return History

APFWX - Holdings

Concentration Analysis

APFWX Category Low Category High APFWX % Rank
Net Assets 12.3 M 1.09 M 163 B 97.92%
Number of Holdings 60 2 1689 70.84%
Net Assets in Top 10 3.39 M 420 K 33.9 B 98.52%
Weighting of Top 10 27.53% 4.8% 99.9% 50.65%

Top 10 Holdings

  1. Lamar Advertising Co., Class A 3.52%
  2. Comcast Corp., Class A 3.36%
  3. Philip Morris International, Inc. 2.98%
  4. EOG Resources, Inc. 2.74%
  5. Heineken Holding NV 2.72%
  6. Altria Group, Inc. 2.68%
  7. Medtronic plc 2.60%
  8. CME Group, Inc. 2.36%
  9. nVent Electric plc 2.31%
  10. Otis Worldwide Corp. 2.26%

Asset Allocation

Weighting Return Low Return High APFWX % Rank
Stocks 		87.34% 1.86% 108.42% 97.13%
Bonds 		9.08% -0.71% 73.23% 1.22%
Cash 		1.86% -0.79% 38.18% 36.81%
Preferred Stocks 		1.82% 0.00% 13.88% 2.70%
Convertible Bonds 		0.38% 0.00% 3.66% 2.53%
Other 		-0.10% -3.53% 39.72% 99.39%

Stock Sector Breakdown

Weighting Return Low Return High APFWX % Rank
Financial Services 		23.42% 0.00% 58.05% 15.51%
Consumer Defense 		16.79% 0.00% 34.10% 3.94%
Industrials 		12.65% 0.00% 42.76% 34.97%
Real Estate 		10.28% 0.00% 90.54% 2.02%
Utilities 		8.46% 0.00% 27.04% 11.22%
Healthcare 		7.93% 0.00% 30.08% 96.32%
Technology 		7.32% 0.00% 54.02% 87.82%
Consumer Cyclical 		5.45% 0.00% 22.74% 54.95%
Communication Services 		4.73% 0.00% 26.58% 63.63%
Energy 		2.97% 0.00% 54.00% 92.90%
Basic Materials 		0.00% 0.00% 21.69% 99.82%

Stock Geographic Breakdown

Weighting Return Low Return High APFWX % Rank
US 		74.83% 1.86% 108.42% 97.74%
Non US 		12.51% 0.00% 27.89% 4.09%

Bond Sector Breakdown

Weighting Return Low Return High APFWX % Rank
Corporate 		79.48% 0.00% 100.00% 4.11%
Cash & Equivalents 		0.61% 0.00% 100.00% 59.41%
Securitized 		0.00% 0.00% 40.38% 97.35%
Municipal 		0.00% 0.00% 0.02% 97.35%
Government 		0.00% 0.00% 100.00% 97.35%
Derivative 		-0.10% -3.53% 6.97% 97.74%

Bond Geographic Breakdown

Weighting Return Low Return High APFWX % Rank
US 		9.08% -0.71% 65.41% 1.22%
Non US 		0.00% 0.00% 7.82% 97.48%

APFWX - Expenses

Operational Fees

APFWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 9.08% 0.03% 14.82% 0.35%
Management Fee 0.70% 0.00% 1.50% 78.50%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

APFWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 0.95% 5.00% N/A

Trading Fees

APFWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

APFWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 488.00% N/A

APFWX - Distributions

Dividend Yield Analysis

APFWX Category Low Category High APFWX % Rank
Dividend Yield 2.80% 0.00% 37.13% 48.13%

Dividend Distribution Analysis

APFWX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

APFWX Category Low Category High APFWX % Rank
Net Income Ratio N/A -1.51% 4.28% N/A

Capital Gain Distribution Analysis

APFWX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

APFWX - Fund Manager Analysis

Managers

Craig Inman

Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

Craig Inman, CFA, is a managing director of Artisan Partners and a portfolio manager on the U.S. Value team. In this role, he is a portfolio manager for the Artisan Value Equity, U.S. Mid-Cap Value and Value Income Strategies. Prior to joining Artisan Partners in February 2012, Mr. Inman was an analyst and trader at Reicon Capital from February 2002 to February 2012. Mr. Inman began his investment career in 1999 as a trader at ING Investment Management. Mr. Inman holds a bachelor's degree in business from Wake Forest University.

Daniel Kane

Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

Daniel L. Kane, CFA, is a managing director of Artisan Partners and a portfolio manager on the U.S. Value team. In this role, he is a portfolio manager for the Artisan Value Equity, U.S. Mid-Cap Value and Value Income Strategies. Prior to joining Artisan Partners in March 2008, Mr. Kane was a senior small-cap investment analyst at BB&T Asset Management, Inc. from August 2005 to March 2008. Mr. Kane began his investment career as a domestic equities securities analyst at the State of Wisconsin Investment Board in 1998. Mr. Kane holds a bachelor's degree in finance from the University of Wisconsin-Madison and a master's degree in business administration from the University of Chicago Booth School of Business.

Thomas Reynolds

Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

Thomas A. Reynolds IV is a managing director of Artisan Partners and a portfolio manager on the U.S. Value team. In this role, he is a portfolio manager for the Artisan Value Equity, U.S. Mid-Cap Value and Value Income Strategies. Prior to joining Artisan Partners in October 2017, Mr. Reynolds was a portfolio manager for Perkins Investment Management at Janus Henderson, where he co-managed the Perkins Small Cap Value strategy and the Perkins All Cap Value strategy. Mr. Reynolds joined Perkins in 2009 as a research analyst covering the U.S. financials sector and was later promoted to portfolio manager. Earlier in his career, he worked at Lehman Brothers in the financial institutions investment banking group and fixed income sales and trading. Mr. Reynolds holds a bachelor's degree in anthropology from Dartmouth College and a master's degree in business administration from the University of Chicago Booth School of Business, where he graduated with honors.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.05 86.59 8.07 16.42

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