The following tables present the fair value hierarchy levels of assets and liabilities held by CIPs measured at fair value as of June 30, 2026 and December 31, 2025:


	Assets and Liabilities at Fair Value
	Total		Level 1		Level 2		Level 3
June 30, 2026
Assets
Money market funds	$	4,035	$	4,035	$	—	$	—
Equity securities - long position	55,491		55,402		89		—
Fixed income instruments - long position	125,452		—		121,509		3,943
Derivative assets	2,297		1		2,296		—




Liabilities
Equity securities - short position	$	4,556	$	4,556	$	—	$	—

Derivative liabilities	2,373		44		2,329		—


	Assets and Liabilities at Fair Value
	Total		Level 1		Level 2		Level 3
December 31, 2025
Assets
Money market funds	$	25,282	$	25,282	$	—	$	—
Equity securities - long position	151,994		151,994		—		—
Fixed income instruments - long position	255,610		—		245,974		9,636
Derivative assets	2,632		203		2,429		—



Liabilities

Derivative liabilities	$	813	$	2	$	811	$	—

CIP balances included in the Company’s unaudited condensed consolidated statements of financial condition were as follows:


	As of June 30, 2026		As of December 31, 2025
Net CIP assets included in the table above	$	180,346	$	434,705
Net CIP assets (liabilities) not included in the table above	15,293		12,515
Total Net CIP assets	195,639		447,220
Less: redeemable noncontrolling interests	86,071		304,263
Artisan’s direct equity investment in CIPs	$	109,568	$	142,957