APHMX Fees and Costs — Artisan Mid Cap Fund, Institutional Shares
Data updated: 2026-08-28
The net expense ratio is 0.98%: a 0.94% management fee plus 0.04% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.1M in broker commissions, 0.0287% of average net assets, and portfolio turnover was 63%.
APHMX Fees and Expenses
Annual operating expenses and sales charges of APHMX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.94% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.04% |
| Gross expense ratio | 0.98% |
| Fee waiver | — |
| Net expense ratio | 0.98% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
APHMX Costs Over Time
On $10,000 invested in APHMX, assuming 5% a year before costs, total costs come to $631 over 5 years, cutting the return by 1.06% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.98%) | $103 | $321 | $557 |
| Trading costs (broker commissions) | $3 | $9 | $16 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $106 | $347 | $631 |
| Value after costs | $10,394 | $11,229 | $12,132 |
| Impact on return, per year | 1.06% | 1.06% | 1.06% |
APHMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0287%
- Total broker commissions: $1.1M
- Bought from dealers (principal trades, not a cost): $3.1B
- Portfolio turnover (prospectus): 63%
- Securities lending: none during the year
APHMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $401K | 48.60% |
| Liquidnet, Inc. | $98K | 11.88% |
| William Blair & Company, L.L.C. | $80K | 9.73% |
| ROBERT W. BAIRD & CO. INCORPORATED | $79K | 9.53% |
| Goldman Sachs & Co. LLC | $33K | 3.98% |
| Barclays Capital, Inc. | $30K | 3.69% |
| J.P. Morgan Securities LLC | $28K | 3.35% |
| BofA Securities, Inc. | $27K | 3.32% |
| Sanford C. Bernstein & Co., LLC | $25K | 3.01% |
| Stephens Inc. | $24K | 2.91% |
APHMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $3.1B | 99.99% |
| Morgan Stanley & Co. LLC | $292K | 0.01% |
Artisan Mid Cap Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| APHMX | Institutional Shares | 0.98% | none |
| APDMX | Advisor Shares | 1.07% | none |
| ARTMX | Investor Shares | 1.21% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.