# EDGAR Filing Document

**Accession Number:** 0000935015
**File Stem:** 0001999371-26-011801
**Filing Date:** 2026-6
**Character Count:** 21549
**Document Hash:** 8b20665661b157b521baf8475e298e4f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-26-011801.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0001999371-26-011801

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**EFFECTIVENESS DATE**: 20260601

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARTISAN PARTNERS FUNDS INC
- **CENTRAL INDEX KEY:** 0000935015

**ORGANIZATION NAME:**
- **EIN:** 391811840
- **STATE OF INCORPORATION:** WI
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-88316
- **FILM NUMBER:** 261050083

**BUSINESS ADDRESS:**
- **STREET 1:** 875 EAST WISCONSIN AVE STE 800
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-390-6100

**MAIL ADDRESS:**
- **STREET 1:** 875 EAST WISCONSIN AVE STE 800
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ARTISAN FUNDS INC
- **DATE OF NAME CHANGE:** 19950310

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZIEGLER FUNDS INC
- **DATE OF NAME CHANGE:** 19950109

## Series and Classes Contracts Data

### Artisan Value Fund (Series ID: S000006537)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000017872 | Investor Shares      | ARTLX           |
| C000103056 | Institutional Shares | APHLX           |
| C000141338 | Advisor Shares       | APDLX           |

![](artisan497k_001.jpg)

Summary Prospectus<br> 1 February 2026, as revised 1 June 2026<br>

------

---

| | |
|:---|:---|
| **Artisan Value Fund** | Investor: **ARTLX** \| Advisor: **APDLX** \| Institutional: **APHLX** |

---

Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus, reports to shareholders and other information about the Fund, including the statement of additional information, online at www.artisanpartners.com/prospectus. You can also get this information at no cost by calling 1.800.344.1770 or by sending an e-mail request to DL-FundAdmin@artisanpartners.com. The Fund's current prospectus and statement of additional information, both dated 1 February 2026, each as supplemented from time to time, are incorporated by reference into this summary prospectus.

**Investment Objective**

The Fund seeks long-term capital growth.

**Fees and Expenses of the Fund**

This table describes the fees and expenses that you pay if you buy, hold and sell shares of the Fund. **The table and expense example do not reflect any transaction fees or commissions that may be charged by a shareholder's financial intermediary when buying or selling shares.**

**Shareholder Fees (fees paid directly from your investment)**

---

| | | | |
|:---|:---|:---|:---|
| | Investor | Advisor | Institutional |
| Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | None | None | None |
| Exchange Fee | None | None | None |
| Redemption Fee | None | None | None |

---

**Annual Fund Operating Expenses<sup>1</sup> (expenses that you pay each year as a percentage of the value of your investment)**

---

| | | | |
|:---|:---|:---|:---|
| | Investor | Advisor | Institutional |
| Management Fees | 0.49% | 0.49% | 0.49% |
| Distribution (12b-1) Fees |  |  |  |
| Total Other Expenses | 0.35 | 0.22 | 0.10 |
| Total Annual Fund Operating Expenses | 0.84 | 0.71 | 0.59 |
| Fee Waiver and Expense Reimbursement<sup>2</sup> | 0.14 | 0.11 | 0.04 |
| Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement | 0.70 | 0.60 | 0.55 |

---

<sup>1</sup> The Fund's operating expenses have been restated to reflect a reduction in the management fees and expense limit that was effective as of 1 June 2026.

<sup>2</sup> Artisan Partners Limited Partnership, the Fund's investment adviser ("Artisan Partners") has contractually agreed to bear certain expenses and waive its management fees to the extent necessary to cause total annual fund operating expenses (excluding taxes, interest, all commissions and other normal charges incident to the purchase and sale of portfolio securities, acquired fund fees and expenses, borrowing costs such as dividends on securities sold short, and extraordinary charges such as litigation costs, but including management fees paid to Artisan Partners) not to exceed 0.70% of the average daily net assets of Investor Shares, 0.60% of the average daily net assets of Advisor Shares and 0.55% of the average daily net assets of Institutional Shares. This contract continues through 31 January 2028. Prior to 1 June 2026, the expense limit, as a percentage of average daily net assets, was 0.98%, 0.88% and 0.83% for Investor Shares, Advisor Shares and Institutional Shares, respectively.

**Expense Example**

The example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes a 5% return each year, and that the Fund's operating expenses are equal to Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement in the first year and Total Annual Fund Operating Expenses thereafter. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | 1 Year | 3 Years | 5 Years | 10 Years |
| Investor | $72 | $254 | $452 | $1024 |
| Advisor | $61 | $216 | $384 | $872 |
| Institutional | $56 | $185 | $325 | $734 |

---

**Portfolio Turnover**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 35.72% of the average value of its portfolio.

**Principal Investment Strategies**

The Fund's investment team employs a fundamental investment process to construct a diversified portfolio of equity securities across a broad capitalization range. The team seeks to invest in companies that are undervalued, in solid financial condition and have attractive business economics. The team believes that companies with these characteristics are less likely to experience eroding values over the long term.

■ **Attractive Valuation** —The team values a business using what it believes are reasonable expectations for the long-term earnings power
 and capitalization rates of that business. This results in a range of values for the company that the team believes would be reasonable.
 The team generally will purchase a security if the stock price falls below or toward the lower end of that range.

■ **Sound Financial Condition** —The team prefers companies with an acceptable level of debt and positive cash flow. At a minimum, the
 team seeks to avoid companies that have so much debt that management may be unable to make decisions that would be in the best interest
 of the companies' shareholders.

■ **Attractive Business Economics** —The team favors cash-producing businesses that it believes are capable of earning acceptable returns
 on capital over the company's business cycle. As part of the team's analysis of a company's business prospects,
 among other factors, the team considers certain environmental, social and governance ("ESG") factors relating to the
 company. These ESG factors may include the impact of environmental regulatory change, the use of human, natural and physical resources
 and corporate governance structures and practices. When the team deems a factor material to the value of a company, the team incorporates
 it into its decision-making process.

The Fund may invest up to 25% of its total assets at market value at the time of purchase in securities of non-US issuers (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 invests in common stocks and other securities of companies across a broad capitalization range. The Fund will invest in US companies with market capitalizations of at least $2 billion at the time of initial purchase, although the Fund may invest in a US company with a lower market capitalization if it already holds a position in that company. There is no restriction on the size of the non-US companies in which the Fund may invest.

**Principal Risks**

Like all mutual funds, the Fund takes investment risks and it is possible for you to lose money by investing in the Fund. Investors in the Fund should have a long-term perspective and be able to tolerate potentially sharp declines in value. The Fund's principal risks include:

■ **Market Risks** —Markets may perform poorly and the securities in which the Fund invests may underperform the general securities markets.
Securities markets may experience periods of high volatility and reduced liquidity in response to governmental actions, intervention
and/or policies, economic or market developments, or other external factors. The value of a company's securities may rise or fall
in response to company, market, economic, political, regulatory or other news.

■ **Active Management Risks** —The success of the Fund is dependent on the team's investment decisions, which are based, in part,
 on the research process employed by the team. The portfolio securities selected by the team may decline in value or not increase
 in value when the market indices, including relevant benchmark indices, are rising, in which case the Fund could experience losses
 regardless of the performance of the market indices. When the team considers ESG factors in its research process, the Fund may forgo
 certain investment opportunities and underperform funds that do not consider ESG factors.

■ **Small and Medium-Sized Company Risks** —Securities of small and medium-sized companies tend to be more volatile and less liquid
 than securities of large companies. Compared to large companies, small and medium-sized companies typically may have analyst coverage
 by fewer brokerage firms – meaning they may trade at prices that reflect incomplete or inaccurate information. Smaller companies
 may have a shorter history of operations, less access to financing and a less diversified product line – making them more susceptible
 to market pressures and more likely to have volatile security prices. During some periods, securities of small and medium-sized companies,
 as an asset class, have underperformed the securities of larger companies.

■ **Value Investing Risks** —Value stocks may fall out of favor with investors and underperform other asset types during given periods.
 The price of a company's stock may never reach the level that the team considers its intrinsic value.

■ **Foreign Investing Risks** —Foreign securities may underperform US securities and may be more volatile than US securities. Risks relating
 to investments in foreign securities (including, but not limited to, depositary receipts and participation certificates) and
 to securities of issuers with significant exposure to foreign markets include currency exchange rate fluctuation; less available
 public information about the issuers of securities; less stringent regulatory standards; lack of uniform accounting, auditing and
 financial reporting standards; and country risks, including less liquidity, high inflation rates and unfavorable economic practices;
 and political instability and expropriation and nationalization risks.

**■** **Currency Risks** —Foreign securities usually are denominated and traded in foreign currencies and the exchange rates between foreign
 currencies and the US dollar fluctuate continuously. The Fund's performance will be affected by its direct or indirect exposure,
 which may include exposure through US dollar denominated depositary receipts and participation certificates, to a particular currency
 due to favorable or unfavorable
changes in currency exchange rates relative to the US dollar. The Fund's direct or indirect exposure to a particular currency may
be hedged to mitigate currency volatility or because the Fund believes a currency is overvalued. There can be no guarantee that any hedging
activity will be successful. Hedging activity and/or use of forward foreign currency contracts may reduce or limit the opportunity for
gain and involves counterparty risk, which is the risk that the contracting party will not fulfill its contractual obligation to deliver
the currency contracted for at the agreed upon price to the Fund.

■ **Risks of Emphasizing a Region, Country, Sector or Industry** —If the Fund has invested a higher percentage of its total assets in
 a particular region, country, sector or industry, changes affecting that region, country, sector or industry may have a significant
 impact on the performance of the Fund's overall portfolio.

**■** **Impact of Actions by Other Shareholders** —The Fund, like all mutual funds, pools the investments of many investors. Actions by one
 investor or multiple investors in the Fund may have an adverse effect on the Fund and on other investors. For example, shareholder
 purchase and redemption activity may affect the per share amount of the Fund's distributions of its net income and net realized
 gains, if any, thereby increasing or reducing the tax burden on the Fund's shareholders subject to income tax who receive Fund
 distributions.

■ **Operational and Cybersecurity Risks** —Operational failures, cyber-attacks or other disruptions that affect the Fund's service providers,
 the Fund's counterparties, other market participants or the issuers of securities held by the Fund may adversely affect the
 Fund and its shareholders, including by causing losses for the Fund or impairing Fund operations.

**Performance**

This section provides some indication of the risks of investing in the Fund. The following bar chart shows how the performance of the Fund's Investor Shares has varied over time.

Past performance (before and after taxes) is not necessarily an indication of how any class of the Fund will perform in the future.

---

| | | | |
|:---|:---|:---|:---|
| **Calendar Year by Year Total Returns (%)** | **Highest/Lowest Quarter Returns (%)** | **Highest/Lowest Quarter Returns (%)** | **Highest/Lowest Quarter Returns (%)** |
| ![](chart_001.jpg) | During the time period shown in the bar chart. | During the time period shown in the bar chart. | During the time period shown in the bar chart. |
| ![](chart_001.jpg) |  |  |  |
| ![](chart_001.jpg) | Highest Quarter | 20.00 | &nbsp;&nbsp;&nbsp;&nbsp;December 31, 2020 |
| ![](chart_001.jpg) | Lowest Quarter | -28.53 | &nbsp;&nbsp;&nbsp;&nbsp;March 31, 2020 |
| ![](chart_001.jpg) |  |  |  |
| ![](chart_001.jpg) |  |  |  |

---

**Average Annual Total Returns**—(For Periods Ended 31 December 2025)

The following table shows the average annual total returns (before and after taxes) and the change in value of three broad-based market indices over various periods ended 31 December 2025. The index information is intended to permit you to compare the Fund's performance to broad measures of market performance.

After-tax returns are shown only for Investor Shares, and the after-tax returns for Advisor Shares and Institutional Shares will vary from Investor Shares. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.

Your actual after-tax returns depend on your own tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares in a tax-advantaged account, or to investors who are tax-exempt.

For Periods Ended 31 December 2025 (%)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor** | 1-Year | 5-Year | 10-Year | Since<br> Inception | Inception <br> Date |
| Return before taxes | 14.28% | 12.29% | 12.60% | &nbsp;&nbsp;8.62% | March 27, 2006 |
| Return after taxes on distributions | 10.95% | 9.58% | 10.31% | &nbsp;&nbsp;7.02% |  |
| Return after taxes on distributions and sale of Fund shares | 10.80% | 9.35% | 9.89% | &nbsp;&nbsp;6.79% |  |
| Russell 1000® Value Index (reflects no deduction for fees, expenses or taxes) | 15.91% | 11.33% | 10.53% | &nbsp;&nbsp;8.08% |  |
| Russell 1000® Index (reflects no deduction for fees, expenses or taxes) | 17.37% | 13.59% | 14.59% | &nbsp;&nbsp;10.81% |  |
| Russell 3000® Index (reflects no deduction for fees, expenses or taxes) | 17.15% | 13.15% | 14.29% | &nbsp;&nbsp;10.60% |  |
| **Advisor** |  |  |  |  |  |
| Return before taxes | 14.36% | 12.44% | 12.76% | &nbsp;&nbsp;10.59% | April 01, 2015 |
| Russell 1000® Value Index (reflects no deduction for fees, expenses or taxes) | 15.91% | 11.33% | 10.53% | &nbsp;&nbsp;9.47% |  |
| Russell 1000® Index (reflects no deduction for fees, expenses or taxes) | 17.37% | 13.59% | 14.59% | &nbsp;&nbsp;13.47% |  |
| Russell 3000® Index (reflects no deduction for fees, expenses or taxes) | 17.15% | 13.15% | 14.29% | &nbsp;&nbsp;13.13% |  |
| **Institutional** |  |  |  |  |  |
| Return before taxes | 14.49% | 12.49% | 12.82% | &nbsp;&nbsp;10.78% | July 26, 2011 |
| Russell 1000® Value Index (reflects no deduction for fees, expenses or taxes) | 15.91% | 11.33% | 10.53% | &nbsp;&nbsp;10.81% |  |
| Russell 1000® Index (reflects no deduction for fees, expenses or taxes) | 17.37% | 13.59% | 14.59% | &nbsp;&nbsp;13.89% |  |
| Russell 3000® Index (reflects no deduction for fees, expenses or taxes) | 17.15% | 13.15% | 14.29% | &nbsp;&nbsp;13.60% |  |

---

Updated performance information, including current NAV per share, may be obtained by calling 800.344.1770 or visiting www.artisanpartners.com.

**Portfolio Management**

**Investment Adviser:** Artisan Partners

---

| | | |
|:---|:---|:---|
| **Portfolio Manager** | **Title** | **Length of Service** |
| Thomas A. Reynolds IV | Managing Director and Portfolio Manager, Artisan Partners | Since October 2017 |
| Daniel L. Kane, CFA<sup>1</sup> | Managing Director and Portfolio Manager, Artisan Partners | Since February 2012 |
| Craig Inman, CFA | Managing Director and Portfolio Manager, Artisan Partners | Since February 2019 |

---

<sup>1</sup> Mr. Kane will step down as Portfolio Manager of the Fund effective 30 June 2026. Mr. Kane will remain an active member of the Artisan Partners US Value Team in an advisory capacity as a Managing Director until his anticipated retirement in mid-2027.

**Purchase and Sale of Fund Shares**

---

| | | | |
|:---|:---|:---|:---|
| **Minimum Investments** | **Investor** | **Advisor** | **Institutional** |
| To open an account | $1000 | $250000 | $1000000 |
| To add to an account | No minimum | No minimum | No minimum |
| Minimum balance required | $1000 | $250000 | $1000000 |

---

The Fund will waive the minimum investment requirements for certain employee benefit plans and certain financial intermediaries that submit orders on behalf of their customers, although the intermediaries may impose their own minimum investment requirements. The Fund may also reduce or waive the minimum investment requirements under certain circumstances.

You may purchase, exchange or redeem shares of the Fund each day the New York Stock Exchange is open for regular session trading at the Fund's net asset value next calculated after receipt and acceptance of your request in good order. To purchase, exchange or redeem shares you should contact your financial intermediary, or, if you hold your shares or plan to purchase shares directly through the Fund, you should contact the Fund by phone at 800.344.1770, by regular mail at Artisan Partners Funds, P.O. Box 219322, Kansas City, MO 64121-9322, or by express, certified or registered mail at Artisan Partners Funds, 801 Pennsylvania Ave., Suite 219322, Kansas City, MO 64105-1307. **Some redemptions require Medallion signature guarantees.**

**Tax Information**

The Fund intends to make distributions that may be taxed as ordinary income, qualified dividend income, or capital gains, except when you are investing through a tax-advantaged arrangement, such as a 401(k) plan or an individual retirement account. If you invest through such tax-advantaged arrangements, you may be subject to tax upon withdrawal from those arrangements.

**Payments to Broker-Dealers and Other Financial Intermediaries**

If you purchase Fund shares through a broker-dealer or other financial intermediary (such as a bank or financial advisor), the Fund, the investment adviser and/or the distributor may pay the financial intermediary for the services provided to the Fund and its shareholders. The investment adviser and/or the distributor may also pay the financial intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other financial intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.