Fund Evaluator:
Artisan Value Institutional (APHLX)
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Best Performing in Large Value Over the Last Year
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Fund Details
Artisan Value Institutional Overview
Artisan Value Institutional (APHLX) is an actively managed U.S. Equity Large Value fund. Artisan Partners Funds launched the fund in 2011.
The investment seeks long-term capital growth. The fund may invest up to 25% of its total assets at market value at the time of purchase in securities of non-U.S. issuers (including depositary receipts). Its investments in non-U.S. 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.
About Artisan Value Institutional (APHLX)
There are 2 members of the management team with an average tenure of 11.59 years: Daniel Kane (2012), Thomas Reynolds (2017). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 1000 TR USD index with a weighting of 100%. Artisan Value Institutional has 48 securities in its portfolio. The top 10 holdings constitute 30.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Artisan Value Institutional is part of the Equity global asset class and is within the U.S. Equity fund group. Artisan Value Institutional has 20.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 78.1%. There is 20.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Artisan Value Institutional has 1.2% of the portfolio in cash.
Assets Under Management
The fund has $160 million in total assets, which is below the $1 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
APHLX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Artisan Value Institutional expense ratio is average compared to funds in the Large Value category. Artisan Value Institutional has an expense ratio of 0.55%, which is 41% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. A portfolio turnover rate cannot be currently calculated for Artisan Value Institutional. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of June 2026, Artisan Value Institutional returned -0.2%, which earned it a grade of F, as the Large Value category had an average return of 1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Artisan Value Institutional has a trailing yield of 1.57%, which is above the 1.25% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Artisan Value Institutional Grades
Year to date, the fund has returned 4.9%, 6.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 10.8% over the past year (grade of F), 13.1% over the past three years (grade of F) and 9.6% per year over the past five years (grade of D) and 11.8% per year over the past 10 years (grade of B).
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APHLX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| APHLX Return (NAV) | -0.2% | 8.7% | 10.8% | 13.1% | 9.6% | 11.8% |
| APHLX Grade | F | D | F | F | D | B |
| +/- Category | -1.8% | -1.1% | -10.2% | -2.8% | -0.8% | 0.5% |
| Large Value Avg | 1.6% | 9.8% | 21.0% | 15.9% | 10.4% | 11.3% |
| APHLX Tax Cost Ratio | na | na | 3.3% | 2.3% | 2.7% | 2.3% |
APHLX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| APHLX Return (NAV) | 4.9% | 14.5% | 12.3% | 24.5% | -8.7% | 23.3% | 11.0% | 30.4% | -14.7% | 16.2% | 29.2% |
| APHLX Grade | F | D | D | A | D | D | A | A | F | C | A |
| +/- Category | -6.2% | -0.7% | -1.8% | 12.6% | -2.6% | -2.5% | 7.2% | 4.8% | -6.2% | -0.2% | 14.7% |
| Large Value Avg | 11.1% | 15.2% | 14.1% | 11.8% | -6.1% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 11.9% |
| Total Risk Index: | 0.98 - Average |
| Category Risk Index: | 0.99 - Average |
| Category Risk Grade: | C (47% Rank) |
| Beta: | 0.73 |
| R-Squared: | 64% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $287 Mil |
| Fund Total Assets: | $ 161 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 14.4 years | |||
| Average Tenure: 11.6 years | |||
| Managers (Year): Kane Daniel (2012), Reynolds Thomas (2017) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 48 |
| % in Top 10 Holdings: | 30.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 20.7% |
Portfolio Allocation |
|
| Domestic Stock: | 78.1% |
| Foreign Stock: | 20.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.2% |
Purchase Information
| Fund Family: | Artisan Partners Funds |
| Phone Number: | 800-344-1770 |
| Website: | www.artisanfunds.com |
| Status: | Open |
| Inception Date: | July 26, 2011 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.55% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Artisan Value Investor |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
