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Name

As of 11/21/2024

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 Small Cap Fund

APHSX | Fund

$39.56

$1.4 B

0.00%

1.00%

Vitals

YTD Return

18.7%

1 yr return

29.6%

3 Yr Avg Return

-0.2%

5 Yr Avg Return

6.9%

Net Assets

$1.4 B

Holdings in Top 10

40.3%

52 WEEK LOW AND HIGH

$38.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.00%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 39.79%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/21/2024

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 Small Cap Fund

APHSX | Fund

$39.56

$1.4 B

0.00%

1.00%

APHSX - Profile

Distributions

  • YTD Total Return 18.7%
  • 3 Yr Annualized Total Return -0.2%
  • 5 Yr Annualized Total Return 6.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.83%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Artisan Small Cap Fund
  • Fund Family Name
    Artisan Partners Limited Partnership
  • Inception Date
    May 07, 2012
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Craigh Cepukenas

Fund Description

The Fund’s investment team employs a fundamental investment process to construct a diversified portfolio of US small-cap growth companies. The team seeks to invest in companies that it believes possess franchise characteristics, are benefiting from an accelerating profit cycle and are trading at a discount to its estimate of private market value. The Fund’s investment process focuses on two distinct elements –security selection and capital allocation. The team overlays its investment process with environmental, social and governance (“ESG”) considerations and broad knowledge of the global economy.■Security Selection—The team seeks to identify companies that have franchise characteristics (e.g., low cost production capability, possession of a proprietary asset, dominant market share or a defensible brand name), are benefiting from an accelerating profit cycle and are trading at a discount to the team’s estimate of private market value. The team looks for companies that are well positioned for long-term growth, which is driven by demand for their products and services at an early enough stage in their profit cycle to benefit from the increased cash flows produced by the emerging profit cycle.■Capital Allocation—Based on the team’s fundamental analysis of a company’s profit cycle, it divides the portfolio into three parts. GardenSM investments are small positions in the early part of their profit cycle that may warrant more sizeable allocations as their profit cycle accelerates. CropSM investments are positions that are being increased to a full weight because the team believes they are moving through the strongest part of their profit cycles. HarvestSM investments are positions that are being reduced as they near the team’s estimates of full valuation or their profit cycles begin to decelerate.■ESG Considerations—The team employs a framework in assessing ESG factors that informs its security selection and capital allocation process.■Broad Knowledge—The team overlays the security selection and capital allocation elements of its investment process with a desire to invest opportunistically across the entire global economy. The team seeks broad knowledge of the global economy in order to position it to find growth wherever it occurs.The Fund invests primarily in US companies and, under normal circumstances, the Fund invests no less than 80% of its net assets plus any borrowings for investment purposes at market value at the time of purchase in the common stocks of small companies. The Fund defines small companies as those with market capitalizations less than $8 billion or the market capitalization of the largest company in the Russell 2000® Index on a rolling one-year basis, whichever is greater. The Fund will not initiate a position in a company unless it has a market capitalization that is within the range of the market capitalizations of companies in the Russell 2000® Index as of the most recent calendar year-end (between $19.5 million and $15 billion as of 31 December 2023).The Fund may invest in the securities of non-US companies, but only if the securities are purchased or sold in the US. The Fund’s maximum investment in those securities, including, without limitation, depositary receipts, is 10% of the Fund’s total assets at market value at the time of purchase. The Fund may also, from time to time, invest in other private placements and restricted securities.
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APHSX - Performance

Return Ranking - Trailing

Period APHSX Return Category Return Low Category Return High Rank in Category (%)
YTD 18.7% -0.3% 99.0% 70.26%
1 Yr 29.6% 5.6% 97.2% 80.66%
3 Yr -0.2%* -17.5% 60.9% 77.78%
5 Yr 6.9%* -2.8% 48.2% 90.12%
10 Yr 10.5%* 1.6% 25.2% 33.33%

* Annualized

Return Ranking - Calendar

Period APHSX Return Category Return Low Category Return High Rank in Category (%)
2023 9.5% -20.5% 54.6% 80.59%
2022 -29.6% -82.1% 32.2% 48.89%
2021 -18.0% -90.6% 300.1% 78.50%
2020 52.6% -63.0% 127.9% 11.43%
2019 30.1% -7.7% 42.9% 13.94%

Total Return Ranking - Trailing

Period APHSX Return Category Return Low Category Return High Rank in Category (%)
YTD 18.7% -0.3% 99.0% 70.26%
1 Yr 29.6% 5.6% 97.2% 80.66%
3 Yr -0.2%* -17.5% 60.9% 77.78%
5 Yr 6.9%* -2.8% 48.2% 90.12%
10 Yr 10.5%* 1.6% 25.2% 33.33%

* Annualized

Total Return Ranking - Calendar

Period APHSX Return Category Return Low Category Return High Rank in Category (%)
2023 9.5% -19.0% 136.8% 87.91%
2022 -29.3% -59.9% 44.3% 61.67%
2021 -8.7% -22.7% 411.9% 97.76%
2020 61.3% 1.5% 150.8% 12.21%
2019 40.5% 5.5% 55.3% 4.98%

NAV & Total Return History

APHSX - Holdings

Concentration Analysis

APHSX Category Low Category High APHSX % Rank
Net Assets 1.4 B 209 K 34.3 B 36.68%
Number of Holdings 63 7 1226 79.01%
Net Assets in Top 10 611 M 53.8 K 3.24 B 19.53%
Weighting of Top 10 40.32% 7.5% 100.0% 12.43%

Top 10 Holdings

  1. Halozyme Therapeutics, Inc. 5.82%
  2. Guidewire Software, Inc. 5.23%
  3. Lattice Semiconductor Corp. 4.72%
  4. Ascendis Pharma A/S 4.54%
  5. Argenx SE 4.38%
  6. SPX Technologies, Inc. 3.65%
  7. Twist Bioscience Corp. 3.24%
  8. Tyler Technologies, Inc. 2.97%
  9. MACOM Technology Solutions Holdings, Inc. 2.94%
  10. Novanta, Inc. 2.82%

Asset Allocation

Weighting Return Low Return High APHSX % Rank
Stocks 		98.76% 85.75% 107.62% 34.12%
Cash 		1.24% 0.00% 28.78% 62.77%
Preferred Stocks 		0.00% 0.00% 4.63% 98.36%
Other 		0.00% -0.26% 6.70% 94.16%
Convertible Bonds 		0.00% 0.00% 1.57% 97.99%
Bonds 		0.00% 0.00% 2.40% 97.99%

Stock Sector Breakdown

Weighting Return Low Return High APHSX % Rank
Technology 		42.56% 2.91% 75.51% 2.74%
Healthcare 		28.32% 0.00% 47.90% 12.23%
Consumer Cyclical 		9.72% 0.00% 24.04% 77.74%
Industrials 		9.41% 0.00% 36.64% 91.42%
Financial Services 		4.22% 0.00% 42.95% 78.10%
Consumer Defense 		3.51% 0.00% 13.56% 56.20%
Communication Services 		2.25% 0.00% 15.31% 52.92%
Utilities 		0.00% 0.00% 5.57% 99.64%
Real Estate 		0.00% 0.00% 15.31% 99.82%
Energy 		0.00% 0.00% 55.49% 100.00%
Basic Materials 		0.00% 0.00% 9.24% 99.64%

Stock Geographic Breakdown

Weighting Return Low Return High APHSX % Rank
US 		98.76% 17.30% 107.62% 29.01%
Non US 		0.00% 0.00% 77.12% 98.91%

APHSX - Expenses

Operational Fees

APHSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.00% 0.05% 23.20% 72.03%
Management Fee 0.96% 0.05% 1.62% 85.01%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

APHSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

APHSX 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.

APHSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 39.79% 3.00% 264.00% 33.33%

APHSX - Distributions

Dividend Yield Analysis

APHSX Category Low Category High APHSX % Rank
Dividend Yield 0.00% 0.00% 6.91% 98.91%

Dividend Distribution Analysis

APHSX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

APHSX Category Low Category High APHSX % Rank
Net Income Ratio -0.83% -2.47% 1.10% 60.70%

Capital Gain Distribution Analysis

APHSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

APHSX - Fund Manager Analysis

Managers

Craigh Cepukenas

Start Date

Tenure

Tenure Rank

Sep 27, 2004

17.68

17.7%

Craigh A. Cepukenas, CFA, is a managing director of Artisan Partners and a portfolio manager on the Growth team. In this role, he is the lead portfolio manager for the Artisan U.S. Small-Cap Growth Strategy and a portfolio manager for the Artisan Global Opportunities, U.S. Mid-Cap Growth and Global Discovery Strategies. Prior to joining Artisan Partners in November 1995 as an analyst, Mr. Cepukenas was an equity research associate at Stein Roe & Farnham, where he began his career in 1989. Mr. Cepukenas holds a bachelor’s degree in economics from the University of Wisconsin-Madison and a master’s degree in business administration from the University of Chicago Booth School of Business.

James Hamel

Start Date

Tenure

Tenure Rank

Oct 01, 2009

12.67

12.7%

James D. Hamel, CFA, is a managing director of Artisan Partners and a portfolio manager on the Growth team. In this role, he is the lead portfolio manager for the Artisan Global Opportunities Strategy and a portfolio manager for the Artisan U.S. Mid-Cap Growth, U.S. Small-Cap Growth and Global Discovery Strategies. Prior to joining Artisan Partners in May 1997, Mr. Hamel was a financial associate, cost analyst and operations manager of Kimberly-Clark Corporation from March 1990 through May 1997. He began his career at Carlson, Posten & Associates. Mr. Hamel holds a bachelor’s degree in finance from the University of Minnesota-Minneapolis where he was a three-time Academic All-American.

Matthew Kamm

Start Date

Tenure

Tenure Rank

Jan 13, 2010

12.39

12.4%

Matthew H. Kamm, CFA, is a managing director of Artisan Partners and a portfolio manager on the Growth team. In this role, he is the lead portfolio manager for the Artisan U.S. Mid-Cap Growth Strategy and a portfolio manager for the Artisan Global Opportunities, U.S. Small-Cap Growth and Global Discovery Strategies. Prior to joining Artisan Partners in May 2003, Mr. Kamm was an associate equity research analyst at Banc of America Securities. Earlier in his career, he was a senior operations analyst for NYU Medical Center. Mr. Kamm holds a bachelor’s degree in public policy from Duke University and a master’s degree in business administration, with a specialty in finance and operations management, from New York University.

Jason White

Start Date

Tenure

Tenure Rank

Jan 28, 2011

11.35

11.4%

Jason L. White, CFA, is a managing director of Artisan Partners and a portfolio manager on the Growth team. In this role, he is the lead portfolio manager for the Artisan Global Discovery Strategy and a portfolio manager for the Artisan Global Opportunities, U.S. Mid-Cap Growth and U.S. Small-Cap Growth Strategies. Prior to joining Artisan Partners in June 2000, Mr. White was a Lieutenant in the U.S. Navy, serving aboard the USS Lake Erie as the ship’s fire control officer. Mr. White holds a bachelor’s degree in history from the United States Naval Academy, where he graduated with distinction.

Jay Warner

Start Date

Tenure

Tenure Rank

Jan 07, 2022

0.39

0.4%

Jay C. Warner, CFA. Mr. Warner is a Co-Founder, Partner and Chief Investment Officer of BCM. Prior to 2005, Mr. Warner was a Financial Analyst in middle market sales for Citigroup Global Markets and was a generalist at The Segalas Group.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.44 9.12 5.25

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