Artisan Focus Fund
Fund
ARTTX
Price as of:
$20.54
+ $0.06
+ 0.29%
Primary Theme
fund company
Name
As of 04/25/2024Price
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
Vitals
YTD Return
11.9%
1 yr return
25.4%
3 Yr Avg Return
3.8%
5 Yr Avg Return
11.5%
Net Assets
$921 M
Holdings in Top 10
61.3%
52 WEEK LOW AND HIGH
$20.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.31%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 316.74%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/25/2024Price
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
ARTTX - Profile
Distributions
- YTD Total Return 11.9%
- 3 Yr Annualized Total Return 3.8%
- 5 Yr Annualized Total Return 11.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -0.52%
- Dividend Yield 0.2%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameArtisan Focus Fund
-
Fund Family NameArtisan Partners Limited Partnership
-
Inception DateApr 24, 2017
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerChristopher Smith
Fund Description
The Fund’s investment approach is based on idea generation, a systematic framework for analyzing companies and proactive risk management. Utilizing this approach, the team seeks to construct a focused portfolio designed to maximize alpha while limiting downside risk over the long term.■Idea Generation—The team believes a key element in alpha generation is finding areas where the team’s views on industry fundamentals differ from consensus estimates. In this pursuit, the team seeks to identify inflections in multi-year trends which may be caused by changes in supply/demand dynamics, societal behavior, market conditions, technology, laws/regulations and business models, among other variables. The team believes these inflections are often misunderstood by market participants, and can lead to meaningful re-evaluations of industries and companies. Identifying themes helps the team develop a focused universe of companies to analyze more thoroughly. The team will also consider compelling idiosyncratic positions that are a good fit based on the team’s rigorous fundamental analysis.■Systematic Analytical Framework—The team applies a systematic framework for analyzing companies across sectors and themes, creating a repeatable and methodical decision-making process. The team’s proprietary company models focus on multi-year earnings power differentiation, expected outcome scenario analysis, return on invested capital and discounted cash flow valuations. Visual outputs are then produced through the firm's internally developed technology solutions, allowing the team to consistently evaluate positions across the portfolio.■Proactive Risk Management—The team incorporates risk management into all stages of its investment process. Metrics evaluated include crowding, correlation, volatility, stress tests, liquidity, factor analysis and macro drivers, all of which inform portfolio construction and position sizing. The team also uses various instruments, such as options, in an effort to magnify alpha and minimize downside.The Fund invests in common stocks and other equity securities of companies across a broad capitalization range. There are no restrictions on the market capitalizations of the companies in which the Fund may invest. The Fund is non-diversified, which means that it may invest a greater portion of its assets in a more limited number of issuers than a diversified fund. As a result, a high percentage of the Fund’s total assets may be invested in a particular company, sector or industry. As part of the investment process, the team considers financially material environmental, social and governance factors alongside other fundamental research.The Fund may invest up to 50% of its total assets at market value at the time of purchase in securities of non-US companies (including depositary receipts). The Fund’s investments in non-US securities may include investments in developed markets, as well as emerging and less developed markets. The Fund usually seeks (but is not required) to hedge against the risk of loss resulting from currency fluctuation. The Fund may invest in equity-linked securities that provide economic exposure to a security of one or more non-US companies without direct investment in the underlying securities (called “participation certificates” in the Fund’s prospectus, but may be called different names). The Fund also invests in exchange-traded funds (“ETFs”).The Fund also uses derivatives, such as options. The Fund may use derivatives for any purpose consistent with its investment objective, including, without limitation, to improve expected risk-adjusted returns and to obtain economic exposure to certain issuers. 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. The Fund also may borrow money for investment purposes, including to purchase additional securities.The Fund may invest in real estate investment trusts (“REITs”). The Fund may also invest to a limited extent in debt securities (including securities rated below investment grade (below BBB- by Standard & Poor’s Financial Services LLC (“S&P”) or Fitch Ratings Inc. (“Fitch”) or below Baa3 by Moody’s Investors Service, Inc. (“Moody’s”)), or comparably rated by another nationally recognized statistical rating organization (“NRSRO”), or unrated but determined by Artisan Partners to be of comparable quality), commonly known as “junk bonds,” and convertible debt securities of US or non-US issuers that meet the Fund’s investment criteria. The Fund may invest in debt securities of any maturity or duration.As a result of the Fund's use of derivatives, the Fund may hold significant amounts of short-term investments, including cash and cash equivalents. The Fund may also maintain a significant portion of its total assets in cash from time to time in response to adverse market, economic, political or other conditions. In addition, cash flows, including from shareholder investments and redemptions and purchases and sales of portfolio securities, may cause the Fund's cash position to be larger or smaller. If the Fund holds a significant portion of its assets in cash, its ability to meet its investment objective and/or the Fund's performance may be adversely affected.
Read More
ARTTX - Performance
Return Ranking - Trailing
| Period | ARTTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.9% | -39.2% | 19.3% | 8.08% |
| 1 Yr | 25.4% | -24.8% | 65.1% | 87.75% |
| 3 Yr | 3.8%* | -30.8% | 22.0% | 63.40% |
| 5 Yr | 11.5%* | -16.0% | 28.0% | 74.10% |
| 10 Yr | N/A* | -5.5% | 18.8% | N/A |
* Annualized
Return Ranking - Calendar
| Period | ARTTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 15.6% | -74.1% | 72.4% | 92.13% |
| 2022 | -26.3% | -85.9% | 4.7% | 16.07% |
| 2021 | 6.0% | -52.4% | 60.5% | 57.10% |
| 2020 | 25.5% | -34.3% | 145.0% | 53.27% |
| 2019 | 27.5% | -21.8% | 49.4% | 34.94% |
Total Return Ranking - Trailing
| Period | ARTTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.9% | -39.2% | 19.3% | 8.08% |
| 1 Yr | 25.4% | -24.8% | 65.1% | 87.75% |
| 3 Yr | 3.8%* | -30.8% | 22.0% | 63.40% |
| 5 Yr | 11.5%* | -16.0% | 28.0% | 74.10% |
| 10 Yr | N/A* | -5.5% | 18.8% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | ARTTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 15.6% | -4.6% | 72.4% | 97.15% |
| 2022 | -26.1% | -61.7% | 5.6% | 26.08% |
| 2021 | 23.5% | -39.8% | 118.1% | 37.12% |
| 2020 | 29.7% | 2.8% | 149.2% | 72.22% |
| 2019 | 32.3% | -5.2% | 49.4% | 57.05% |
NAV & Total Return History
ARTTX - Holdings
Concentration Analysis
| ARTTX | Category Low | Category High | ARTTX % Rank | |
|---|---|---|---|---|
| Net Assets | 921 M | 242 K | 269 B | 58.21% |
| Number of Holdings | 68 | 1 | 3217 | 42.02% |
| Net Assets in Top 10 | 564 M | 104 K | 111 B | 54.50% |
| Weighting of Top 10 | 61.27% | 0.7% | 205.0% | 9.79% |
Top 10 Holdings
- Microsoft Corp. 14.02%
- BlackRock Liquidity Funds Treasury Trust Fund - Institutional Class 10.24%
- General Electric Co. 7.39%
- Adobe, Inc. 5.56%
- Visa, Inc., Class A 4.69%
- TransDigm Group, Inc. 4.40%
- Crown Castle, Inc. 4.28%
- Progressive Corp. (The) 3.80%
- NVIDIA Corp. 3.60%
- Canadian Pacific Kansas City Ltd. 3.29%
Asset Allocation
| Weighting | Return Low | Return High | ARTTX % Rank | |
|---|---|---|---|---|
| Stocks | 87.26% | 0.00% | 130.05% | 98.05% |
| Cash | 10.37% | -1.50% | 173.52% | 2.46% |
| Other | 2.38% | -43.49% | 50.04% | 3.57% |
| Preferred Stocks | 0.00% | 0.00% | 7.84% | 68.51% |
| Convertible Bonds | 0.00% | 0.00% | 1.94% | 64.37% |
| Bonds | 0.00% | 0.00% | 104.15% | 65.45% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | ARTTX % Rank | |
|---|---|---|---|---|
| Technology | 26.59% | 0.00% | 65.70% | 77.98% |
| Industrials | 18.22% | 0.00% | 30.65% | 2.64% |
| Financial Services | 15.90% | 0.00% | 43.06% | 11.82% |
| Basic Materials | 11.99% | 0.00% | 18.91% | 0.68% |
| Healthcare | 7.31% | 0.00% | 39.76% | 92.26% |
| Real Estate | 6.03% | 0.00% | 16.05% | 3.57% |
| Consumer Cyclical | 4.43% | 0.00% | 62.57% | 97.02% |
| Communication Services | 4.33% | 0.00% | 66.40% | 92.09% |
| Utilities | 3.43% | 0.00% | 16.07% | 3.66% |
| Consumer Defense | 1.76% | 0.00% | 25.50% | 75.00% |
| Energy | 0.00% | 0.00% | 41.09% | 83.25% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | ARTTX % Rank | |
|---|---|---|---|---|
| US | 85.25% | 0.00% | 130.05% | 96.43% |
| Non US | 2.00% | 0.00% | 78.10% | 21.22% |
ARTTX - Expenses
Operational Fees
| ARTTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.31% | 0.01% | 19.54% | 26.21% |
| Management Fee | 0.99% | 0.00% | 1.50% | 95.23% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 1.02% | N/A |
Sales Fees
| ARTTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 8.50% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| ARTTX 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.
| ARTTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 316.74% | 0.00% | 316.74% | 100.00% |
ARTTX - Distributions
Dividend Yield Analysis
| ARTTX | Category Low | Category High | ARTTX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.25% | 0.00% | 27.99% | 79.68% |
Dividend Distribution Analysis
| ARTTX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| ARTTX | Category Low | Category High | ARTTX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.52% | -6.13% | 3.48% | 65.34% |
Capital Gain Distribution Analysis
| ARTTX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 22, 2022 | $0.051 | OrdinaryDividend |
| Nov 21, 2019 | $0.585 | OrdinaryDividend |
| Nov 20, 2018 | $0.001 | OrdinaryDividend |
ARTTX - Fund Manager Analysis
Managers
Christopher Smith
Start Date
Tenure
Tenure Rank
Apr 24, 2017
5.1
5.1%
Christopher P. Smith is a managing director of Artisan Partners and founding portfolio manager of the Artisan Partners Thematic Team. Prior to joining Artisan Partners in October 2016, Mr. Smith was a senior analyst at Kingdon Capital Management from October 2014 to October 2016 where he managed capital directly for Mark Kingdon. Mr. Smith spent the majority of his career at Karsch Capital Management where he was a managing director and a senior analyst covering the consumer, media and industrial sectors. Upon Karsch Capital closing in August 2013, Mr. Smith was selected by Michael Karsch to create and exclusively manage Centerline Investment Partners, a long-only fund with more than $100 million in assets, which he then merged into Kingdon Capital with the client’s approval. Mr. Smith has also worked at Soros Fund Management, as well as UBS and Credit Suisse in equity research. He holds a bachelors degree in finance from the Wharton School, University of Pennsylvania (summa cum laude).
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 54.45 | 8.22 | 3.08 |