<PAGE> PAGE 1
000 B000000 06/30/97
000 C000000 0000935015
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
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001 C000000 4143906100
002 A000000 1000 N. WATER ST., SUITE 1770
002 B000000 MILWAUKEE
002 C000000 WI
002 D010000 53202
002 D020000 3197
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 ARTISAN SMALL CAP FUND
007 C030100 N
007 C010200 2
007 C020200 ARTISAN INTERNATIONAL FUND
007 C030200 N
007 C010300 3
007 C020300 ARTISAN MID CAP FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 ARTISAN PARTNERS LIMITED PARTNERSHIP
008 B00AA01 A
008 C00AA01 801-48435
008 D01AA01 MILWAUKEE
008 D02AA01 WI
008 D03AA01 53202
008 D04AA01 3197
010 A00AA01 ARTISAN PARTNERS, L.P.
010 B00AA01 801-48435
010 C01AA01 MILWAUKEE
010 C02AA01 WI
010 C03AA01 53202
<PAGE> PAGE 2
010 C04AA01 3197
011 A00AA01 DELETE
012 A00AA01 BOSTON FINANCIAL DATA SERVICES
012 B00AA01 84-0000
012 C01AA01 QUINCY
012 C02AA01 MA
012 C03AA01 02171
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 MILWAUKEE
013 B02AA01 WI
013 B03AA01 53202
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02105
015 C04AA01 1713
015 E01AA01 X
015 A00AA02 WESTPAC BANKING CORPORATION
015 B00AA02 S
015 C01AA02 SYDNEY
015 D01AA02 AUSTRALIA
015 E04AA02 X
015 A00AA03 CITIBANK, N.A., BRAZIL - SAU PAULO
015 B00AA03 S
015 C01AA03 SAU PAULO
015 D01AA03 BRAZIL
015 E04AA03 X
015 A00AA04 CITIBANK, N.A., ARGENTINA - BUENOS AIRES
015 B00AA04 S
015 C01AA04 BUENOS AIRES
015 D01AA04 ARGENTINA
015 E04AA04 X
015 A00AA05 GIROCREDIT BANK AKTIENGESELLSCHAFT DER SPARKA
015 B00AA05 S
015 C01AA05 VIENNA
015 D01AA05 AUSTRIA
015 E04AA05 X
015 A00AA07 GENERALE BANK
015 B00AA07 S
015 C01AA07 BRUSSELS
015 D01AA07 BELGIUM
015 E04AA07 X
015 A00AA08 BARCLAY'S BANK OF BOTSWANA LIMITED
015 B00AA08 S
015 C01AA08 GABARONE
015 D01AA08 BOTSWANA
015 E04AA08 X
015 A00AA09 CANADA TRUSTCO MORTGAGE COMPANY
015 B00AA09 S
015 C01AA09 TORONTO
<PAGE> PAGE 3
015 D01AA09 CANADA
015 E04AA09 X
015 A00AA10 CITIBANK, N.A., CHILE
015 B00AA10 S
015 C01AA10 SANTIAGO
015 D01AA10 CHILE
015 E04AA10 X
015 A00AA11 THE HONG KONG AND SHANGHAI BANKING CORP LTD
015 B00AA11 S
015 C01AA11 SHANGHAI
015 D01AA11 SHENZHEN, CHINA
015 E04AA11 X
015 A00AA12 CITITRUST COLUMBIA S.A. SOCIEDAD FIDUCIARIA
015 B00AA12 S
015 C01AA12 BOGOTA
015 D01AA12 COLOMBIA
015 E04AA12 X
015 A00AA13 BARCLAY'S BANK PLC
015 B00AA13 S
015 C01AA13 NICOSIA
015 D01AA13 CYPRUS
015 E04AA13 X
015 A00AA14 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B00AA14 S
015 C01AA14 PRAGUE
015 D01AA14 CZECH REPUBLIC
015 E04AA14 X
015 A00AA15 DEN DANSKE BANK
015 B00AA15 S
015 C01AA15 COPENHAGEN
015 D01AA15 DENMARK
015 E04AA15 X
015 A00AA16 CITIBANK, N.A., EQUADOR
015 B00AA16 S
015 C01AA16 QUITO
015 D01AA16 ECUADOR
015 E04AA16 X
015 A00AA17 NATIONAL BANK OF EGYPT
015 B00AA17 S
015 C01AA17 CAIRO
015 D01AA17 EGYPT
015 E04AA17 X
015 A00AA18 MERITA BANK LIMITED
015 B00AA18 S
015 C01AA18 HELSINKI
015 D01AA18 FINLAND
015 E04AA18 X
015 A00AA19 BANQUE PARIBAS
015 B00AA19 S
015 C01AA19 PARIS
015 D01AA19 FRANCE
<PAGE> PAGE 4
015 E04AA19 X
015 A00AA20 DRESDNER BANK AG
015 B00AA20 S
015 C01AA20 FRANKFURT
015 D01AA20 GERMANY
015 E04AA20 X
015 A00AA21 BARCLAY'S BANK OF GHANA LIMITED
015 B00AA21 S
015 C01AA21 ACCRA
015 D01AA21 GHANA
015 E04AA21 X
015 A00AA22 NATIONAL BANK OF GREECE S.A.
015 B00AA22 S
015 C01AA22 ATHENS
015 D01AA22 GREECE
015 E04AA22 X
015 A00AA23 STANDARD CHARTERED BANK - HONG KONG BRANCH
015 B00AA23 S
015 C01AA23 HONG KONG
015 D01AA23 HONG KONG
015 E04AA23 X
015 A00AA24 CITIBANK BUDAPEST RT.
015 B00AA24 S
015 C01AA24 BUDAPEST
015 D01AA24 HUNGARY
015 E04AA24 X
015 A00AA25 THE HONGKONG AND SHANGHAI BANKING CORP LTD
015 B00AA25 S
015 C01AA25 BOMBAY
015 D01AA25 INDIA
015 E04AA25 X
015 A00AA26 STANDARD CHARTERED BANK - JAKARTA
015 B00AA26 S
015 C01AA26 JAKARTA
015 D01AA26 INDONESIA
015 E04AA26 X
015 A00AA27 BANK OF IRELAND
015 B00AA27 S
015 C01AA27 DUBLIN
015 D01AA27 IRELAND
015 E04AA27 X
015 A00AA28 BANK HAPOALIM B.M.
015 B00AA28 S
015 C01AA28 TEL AVIV
015 D01AA28 ISRAEL
015 E04AA28 X
015 A00AA29 DELETE
015 A00AA30 SUMITOMO TRUST & BANKING CO., LTD
015 B00AA30 S
015 C01AA30 TOKYO
015 D01AA30 JAPAN
<PAGE> PAGE 5
015 E04AA30 X
015 A00AA32 BARCLAY'S BANK OF KENYA LIMITED
015 B00AA32 S
015 C01AA32 NAIROBI
015 D01AA32 KENYA
015 E04AA32 X
015 A00AA33 SEOULBANK
015 B00AA33 S
015 C01AA33 SEOUL
015 D01AA33 SOUTH KOREA
015 E04AA33 X
015 A00AA34 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B00AA34 S
015 C01AA34 KUALA LUMPUR
015 D01AA34 MALAYSIA
015 E04AA34 X
015 A00AA35 CITIBANK MEXICO, S.A.
015 B00AA35 S
015 C01AA35 MEXICO CITY
015 D01AA35 MEXICO
015 E04AA35 X
015 A00AA36 BANQUE COMMERCIALE DU MAROC
015 B00AA36 S
015 C01AA36 CASABLANCA
015 D01AA36 MOROCCO
015 E04AA36 X
015 A00AA37 MEESPIERSON N.V.
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015 D01AA37 NETHERLANDS
015 E04AA37 X
015 A00AA38 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
015 B00AA38 S
015 C01AA38 WELLINGTON
015 D01AA38 NEW ZEALAND
015 E04AA38 X
015 A00AA39 CHRISTIANA BANK OG KREDITKASSE
015 B00AA39 S
015 C01AA39 OSLO
015 D01AA39 NORWAY
015 E04AA39 X
015 A00AA40 DEUTSCHE BANK AG, PAKISTAN
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015 C01AA40 KARACHI
015 D01AA40 PAKISTAN
015 E04AA40 X
015 A00AA41 CITIBANK, N.A., PERU
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015 D01AA41 PERU
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<PAGE> PAGE 6
015 A00AA42 STANDARD CHARTERED BANK - MANILA
015 B00AA42 S
015 C01AA42 MANILA
015 D01AA42 PHILIPPINES
015 E04AA42 X
015 A00AA43 CITIBANK POLAND, S.A.
015 B00AA43 S
015 C01AA43 WARSAW
015 D01AA43 POLAND
015 E04AA43 X
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015 B00AA44 S
015 C01AA44 LISBON
015 D01AA44 PORTUGAL
015 E04AA44 X
015 A00AA45 THE DEVELOPMENT BANK OF SINGAPORE LTD
015 B00AA45 S
015 C01AA45 SINGAPORE
015 D01AA45 SINGAPORE
015 E04AA45 X
015 A00AA46 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B00AA46 S
015 C01AA46 JOHANNESBURG
015 D01AA46 SOUTH AFRICA
015 E04AA46 X
015 A00AA47 BANCO SANTANDER, S.A.
015 B00AA47 S
015 C01AA47 MADRID
015 D01AA47 SPAIN
015 E04AA47 X
015 A00AA48 THE HONGKONG AND SHANGHAI BANK CORP - COLUMBO
015 B00AA48 S
015 C01AA48 COLUMBO
015 D01AA48 SRI LANKA
015 E04AA48 X
015 A00AA49 BARCLAY'S BANK OF SWAZILAND LTD
015 B00AA49 S
015 C01AA49 MBABANE
015 D01AA49 SWAZILAND
015 E04AA49 X
015 A00AA50 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA50 S
015 C01AA50 STOCKHOLM
015 D01AA50 SWEDEN
015 E04AA50 X
015 A00AA51 UNION BANK OF SWITZERLAND
015 B00AA51 S
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015 E04AA51 X
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<PAGE> PAGE 7
015 B00AA52 S
015 C01AA52 TAIPEI
015 D01AA52 TAIWAN
015 E04AA52 X
015 A00AA53 STANDARD CHARTERED BANK - BANGKOK
015 B00AA53 S
015 C01AA53 BANGKOK
015 D01AA53 THAILAND
015 E04AA53 X
015 A00AA54 CITIBANK, N.A., TURKEY
015 B00AA54 S
015 C01AA54 ISTANBUL
015 D01AA54 TURKEY
015 E04AA54 X
015 A00AA55 STATE STREET BANK AND TRUST CO. - LONDON BRNC
015 B00AA55 S
015 C01AA55 LONDON
015 D01AA55 UNITED KINGDOM
015 E04AA55 X
015 A00AA56 CITIBANK, N.A., URUGUAY
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015 C01AA56 MONTEVIDEO
015 D01AA56 URUGUAY
015 E04AA56 X
015 A00AA57 CITIBANK, N.A., VENEZUELA
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015 C01AA57 CARACAS
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015 A00AA58 BARCLAY'S BANK OF ZAMBIA LIMITED
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015 C01AA58 LUSAKA
015 D01AA58 ZAMBIA
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015 A00AA59 BARCLAY'S BANK OF ZIMBABWE LIMITED
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015 C01AA59 HARARE
015 D01AA59 ZIMBABWE
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015 A00AA60 DEUTSCHE BANK KAG
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015 E04AA60 X
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015 B00AA61 S
015 C01AA61 MILAN
015 D01AA61 ITALY
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<PAGE> PAGE 8
015 C01AA62 TOKYO
015 D01AA62 JAPAN
015 E04AA62 X
015 A00AA63 THE FUJI BANK, LIMITED
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<PAGE> PAGE 9
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<PAGE> PAGE 10
034 00AA00 N
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<PAGE> PAGE 11
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
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054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
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<PAGE> PAGE 12
077 P000000 N
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<PAGE> PAGE 13
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049 000100 N
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066 A000100 Y
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066 E000100 N
066 F000100 N
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068 A000100 N
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<PAGE> PAGE 14
070 I010100 Y
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
067 000200 N
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<PAGE> PAGE 18
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072 U000200 7
072 V000200 0
072 W000200 13
072 X000200 3953
072 Y000200 0
072 Z000200 2615
072AA000200 10582
072BB000200 0
072CC010200 30229
072CC020200 0
072DD010200 237
072DD020200 0
072EE000200 1239
073 A010200 0.0184
073 A020200 0.0000
073 B000200 0.0961
073 C000200 0.0000
074 A000200 1
074 B000200 11624
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 440272
074 G000200 0
074 H000200 0
074 I000200 9534
074 J000200 3049
074 K000200 0
074 L000200 2285
074 M000200 25
074 N000200 466790
074 O000200 7443
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 10167
<PAGE> PAGE 19
074 S000200 0
074 T000200 449180
074 U010200 31015
074 U020200 0
074 V010200 14.48
074 V020200 0.00
074 W000200 0.0000
074 X000200 8165
074 Y000200 0
075 A000200 0
075 B000200 245024
076 000200 0.00
024 000300 N
025 D000301 0
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 0
028 A020300 0
028 A030300 0
028 A040300 0
028 B010300 0
028 B020300 0
028 B030300 0
028 B040300 0
028 C010300 0
028 C020300 0
028 C030300 0
028 C040300 0
028 D010300 0
028 D020300 0
028 D030300 0
028 D040300 0
028 E010300 0
028 E020300 0
028 E030300 0
028 E040300 0
028 F010300 1813
028 F020300 0
028 F030300 0
028 F040300 0
028 G010300 1813
028 G020300 0
028 G030300 0
028 G040300 0
028 H000300 0
049 000300 N
<PAGE> PAGE 20
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 Y
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 Y
070 Q020300 N
070 R010300 Y
070 R020300 N
<PAGE> PAGE 21
071 A000300 0
071 B000300 0
071 C000300 0
071 D000300 0
072 A000300 0
072 B000300 0
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 0
072 G000300 0
072 H000300 0
072 I000300 0
072 J000300 0
072 K000300 0
072 L000300 0
072 M000300 0
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 0
072 S000300 0
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 0
072 X000300 0
072 Y000300 0
072 Z000300 0
072AA000300 0
072BB000300 0
072CC010300 0
072CC020300 0
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 1436
074 B000300 0
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
<PAGE> PAGE 22
074 K000300 0
074 L000300 377
074 M000300 43
074 N000300 1856
074 O000300 0
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 43
074 S000300 0
074 T000300 1813
074 U010300 181
074 U020300 0
074 V010300 10.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 42
074 Y000300 0
075 A000300 0
075 B000300 1813
076 000300 0.00
SIGNATURE JOHN M. BLASER
TITLE CFO
To the Shareholders and Board of
Directors of Artisan Funds, Inc.
In planning and performing our audits of the financial statements of Artisan
Small Cap Fund, Artisan International Fund, and Artisan Mid Cap Fund
(constituting Artisan Funds, Inc., hereafter referred to as the "Funds") for
the period ended June 30, 1997, we considered its internal control,
including control activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of
Form N-SAR, not to provide assurance on internal control.
The management of the Funds is responsible for establishing and
maintaining internal control. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of control activities. Generally, control activities that are
relevant to an audit pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in conformity with
generally accepted accounting principles. Those control activities include
the safeguarding of assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projection of any evaluation of
internal control to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under
standards established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which the design or
operation of any specific internal control components does not reduce to a
relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the
normal course of performing their assigned functions. However, we noted
no matters involving internal control, including control activities for
safeguarding securities, that we consider to be material weaknesses as
defined above as of June 30, 1997.
This report is intended solely for the information and use of management
and the Board of Directors of Artisan Funds, Inc. and the Securities and
Exchange Commission.
PRICE WATERHOUSE LLP
Milwaukee, Wisconsin
July 29, 1997
