This material represents the views and opinions of Aashish Rao, Artisan Partners Growth Team associate portfolio manager, as of 10 May 2023, which are based on current market conditions, will fluctuate, and are subject to change without notice. While the information contained herein is believed to be reliable, there is no guarantee to the accuracy or completeness of any statement in the discussion. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.

International investments involve special risks, including currency fluctuation, lower liquidity, different accounting methods and economic and political systems, and higher transaction costs. These risks typically are greater in emerging markets. Securities of small- and medium-sized companies tend to have a shorter history of operations, be more volatile and less liquid and may have underperformed securities of large companies during some periods. Growth securities may underperform other asset types during a given period. Investments will rise and fall with market fluctuations and investor capital is at risk. Investors investing in strategies denominated in non-local currency should be aware of the risk of currency exchange fluctuations that may cause a loss of principal. These risks, among others, are further described in Artisan Partners Form ADV, which is available upon request.

This discussion is not intended to be a recommendation of any individual security. The holdings mentioned comprised the following percentages of a representative account within the Artisan Global Opportunities and Artisan Global Discovery Composites’ total net assets as of 30 Sep 2023: Artisan Global Opportunities Strategy: Advanced Micro Devices Inc (AMD) 4.6%; Artisan Global Discovery Strategy: Advanced Micro Devices Inc (AMD) 2.4%. Securities mentioned, but not listed here are not held in the portfolio as of the date of this report.

This material is provided for informational purposes without regard to your particular investment needs and shall not be construed as investment or tax advice on which you may rely for your investment decisions. Investors should consult their financial and tax adviser before making investments in order to determine the appropriateness of any investment product discussed herein.