Artisan Partners Asset Management remains a BUY, supported by a 10% yield, strong balance sheet, and ongoing diversification into credit and alternatives. 2Q26 results exceeded expectations: revenue and AUM both grew 9% YoY, while adjusted net profit increased 13% YoY despite net outflows. Equity outflows persist, but market appreciation and inflows into credit/alternatives are partially offsetting; the upcoming $6B global value outflow will impact fee revenue.

