Artisan Partners Reports Q3 2025 Revenue Growth and AUM Increase

Artisan Partners Asset Management Inc. (APAM) reported its financial results for the third quarter and the first nine months of 2025, showcasing a notable increase in revenues and assets under management (AUM). For the three months ended September 30, 2025, the company generated total revenues of $301.3 million, an increase of 8% from $279.6 million in the same period of 2024. The growth was primarily driven by a 9% rise in average AUM, which reached $177.4 billion, compared to $162.8 billion a year earlier. The company’s net income attributable to APAM for the quarter was $66.8 million, down from $72.9 million in the prior year, resulting in basic and diluted earnings per share of $0.93.

In the nine-month period ending September 30, 2025, Artisan reported total revenues of $861.2 million, a 6% increase from $814.8 million in the same period of 2024. The company’s net income for this period was $195.5 million, compared to $190.0 million a year earlier. The weighted average management fee decreased slightly to 67.7 basis points from 68.8 basis points, attributed to changes in investment management agreements and a shift in AUM towards lower-fee credit strategies.

Operationally, Artisan's AUM increased to $181.3 billion as of September 30, 2025, reflecting a $5.8 billion rise from the previous quarter, primarily due to $8.3 billion in market appreciation, despite experiencing $2.3 billion in net client cash outflows. The company’s investment strategies are diversified across various asset classes, with approximately 73% of AUM managed for clients in the U.S. and 27% for international clients. The firm continues to focus on attracting and retaining investment professionals while expanding its investment capabilities.

Artisan also announced a quarterly dividend of $0.88 per share of Class A common stock, payable on November 28, 2025, which reflects approximately 80% of the cash generated in the September quarter. The company’s financial position remains strong, with cash and cash equivalents totaling $300.2 million as of September 30, 2025, up from $201.2 million at the end of 2024. The firm has also extended the lease on its largest office space for an additional ten years, increasing its operating lease liabilities.

Looking ahead, Artisan expects to continue investing in growth initiatives while managing its cash flow to support dividends and distributions. The company remains focused on maintaining its financial model, which is largely dependent on AUM fluctuations and market conditions. As such, Artisan anticipates that its business and financial results will continue to experience variability in response to these factors.