Artisan Partners (NYSE: AXTA) reports 11.5% beneficial stake in Axalta

Rhea-AI Filing Summary

Artisan Partners has disclosed a significant passive stake in Axalta Coating Systems Ltd. The filing reports beneficial ownership of 24,592,005 common shares, representing 11.5% of Axalta’s outstanding shares, based on 213,340,170 shares outstanding as of October 22, 2025.

The shares are held through several affiliated Artisan entities, with Artisan Partners Limited Partnership acting as investment adviser. Of the total, 12,557,489 shares are held on behalf of Artisan Partners Funds, Inc. Artisan states the position is held in the ordinary course of business and not for the purpose of changing or influencing control of Axalta.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

AXALTA COATING SYSTEMS LTD.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

G0750C108

(CUSIP Number)

01/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G0750C108

1

Names of Reporting Persons

Artisan Partners Asset Management Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 23,669,285.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 24,592,005.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

24,592,005.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.5 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: (g) Artisan Partners Holdings LP is the sole limited partner of Artisan Partners Limited Partnership and the sole member of Artisan Investments GP LLC; Artisan Investments GP LLC is the general partner of Artisan Partners Limited Partnership; Artisan Partners Asset Management Inc. is the general partner of Artisan Partners Holdings LP.

SCHEDULE 13G

CUSIP No. G0750C108

1

Names of Reporting Persons

Artisan Partners Holdings LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 23,669,285.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 24,592,005.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

24,592,005.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.5 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: (g) Artisan Partners Holdings LP is the sole limited partner of Artisan Partners Limited Partnership and the sole member of Artisan Investments GP LLC; Artisan Investments GP LLC is the general partner of Artisan Partners Limited Partnership; Artisan Partners Asset Management Inc. is the general partner of Artisan Partners Holdings LP.

SCHEDULE 13G

CUSIP No. G0750C108

1

Names of Reporting Persons

Artisan Investments GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 23,669,285.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 24,592,005.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

24,592,005.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.5 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: (g) Artisan Partners Holdings LP is the sole limited partner of Artisan Partners Limited Partnership and the sole member of Artisan Investments GP LLC; Artisan Investments GP LLC is the general partner of Artisan Partners Limited Partnership; Artisan Partners Asset Management Inc. is the general partner of Artisan Partners Holdings LP.

SCHEDULE 13G

CUSIP No. G0750C108

1

Names of Reporting Persons

Artisan Partners Limited Partnership

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 23,669,285.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 24,592,005.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

24,592,005.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.5 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: (e) Artisan Partners Limited Partnership is an investment adviser registered under section 203 of the Investment Advisers Act of 1940. (g) Artisan Partners Holdings LP is the sole limited partner of Artisan Partners Limited Partnership and the sole member of Artisan Investments GP LLC; Artisan Investments GP LLC is the general partner of Artisan Partners Limited Partnership; Artisan Partners Asset Management Inc. is the general partner of Artisan Partners Holdings LP.

SCHEDULE 13G

CUSIP No. G0750C108

1

Names of Reporting Persons

Artisan Partners Funds, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

WISCONSIN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,557,489.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,557,489.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,557,489.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.9 %

12

Type of Reporting Person (See Instructions)

IC

Comment for Type of Reporting Person: (d) Artisan Partners Funds, Inc. is an Investment Company under section 8 of the Investment Company Act.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AXALTA COATING SYSTEMS LTD.
(b)	Address of issuer's principal executive offices: 1050 Constitution Avenue, Philadelphia, Pennsylvania 19112
Item 2.
(a)	Name of person filing: Artisan Partners Asset Management Inc. ("APAM") Artisan Partners Holdings LP ("Artisan Holdings") Artisan Investments GP LLC ("Artisan Investments") Artisan Partners Limited Partnership ("APLP") Artisan Partners Funds, Inc. ("Artisan Funds")
(b)	Address or principal business office or, if none, residence: APAM, Artisan Holdings, Artisan Investments, APLP, and Artisan Funds are all located at: 875 East Wisconsin Avenue, Suite 800 Milwaukee, WI 53202
(c)	Citizenship: APAM is a Delaware corporation; Artisan Holdings is a Delaware limited partnership; Artisan Investments is a Delaware limited liability company; APLP is a Delaware limited partnership; Artisan Funds is a Wisconsin corporation
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: G0750C108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 24,592,005
(b)	Percent of class: 11.5% (based on 213,340,170 shares outstanding as of 10/22/2025)
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: None
	(ii) Shared power to vote or to direct the vote: 23,669,285
	(iii) Sole power to dispose or to direct the disposition of: None
	(iv) Shared power to dispose or to direct the disposition of: 24,592,005
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The shares reported herein have been acquired on behalf of discretionary clients of APLP; as reported herein, APLP holds 24,592,005 shares, including 12,557,489 shares on behalf of Artisan Funds. Persons other than APLP are entitled to receive all dividends from, and proceeds from the sale of, those shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Artisan Partners Asset Management Inc.

Signature:	/s/ Gregory K. Ramirez
Name/Title:	Gregory K. Ramirez, Executive Vice President of Artisan Partners Asset Management Inc.
Date:	02/06/2026

Artisan Partners Holdings LP

Signature:	/s/ Gregory K. Ramirez
Name/Title:	Gregory K. Ramirez, Executive Vice President of Artisan Partners Asset Management Inc., as the general partner of Artisan Partners Holdings LP
Date:	02/06/2026

Artisan Investments GP LLC

Signature:	/s/ Gregory K. Ramirez
Name/Title:	Gregory K. Ramirez, Vice President of Artisan Investments GP LLC
Date:	02/06/2026

Artisan Partners Limited Partnership

Signature:	/s/ Gregory K. Ramirez
Name/Title:	Gregory K. Ramirez, Vice President of Artisan Investments GP LLC, as the general partner of Artisan Partners Limited Partnership
Date:	02/06/2026

Artisan Partners Funds, Inc.

Signature:	/s/ Gregory K. Ramirez
Name/Title:	Gregory K. Ramirez, President and Chief Executive Officer of Artisan Partners Funds, Inc.
Date:	02/06/2026

Comments accompanying signature: Exhibit Index Exhibit 1 - Joint Filing Agreement dated 2/6/2026 Artisan Partners Asset Management Inc., Artisan Partners Holdings LP, Artisan Investments GP LLC, Artisan Partners Limited Partnership, and Artisan Partners Funds, Inc.

FAQ

How much of Axalta Coating Systems (AXTA) does Artisan Partners own?

Artisan Partners reports beneficial ownership of 24,592,005 Axalta common shares, representing 11.5% of the outstanding class. This percentage is based on 213,340,170 shares outstanding as of October 22, 2025, as cited in the filing.

Which Artisan entities are involved in the Axalta (AXTA) ownership disclosure?

The filing lists Artisan Partners Asset Management Inc., Artisan Partners Holdings LP, Artisan Investments GP LLC, Artisan Partners Limited Partnership, and Artisan Partners Funds, Inc. as reporting persons, reflecting Artisan’s internal ownership and control structure over the Axalta shareholdings.

Is Artisan Partners’ Axalta (AXTA) stake an active or passive investment?

Artisan certifies the Axalta shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Axalta. The disclosure characterizes the position as a passive investment under the relevant SEC rules.

How many Axalta (AXTA) shares are held for Artisan Partners Funds, Inc.?

Within the aggregate position, the filing states that 12,557,489 Axalta shares are held on behalf of Artisan Partners Funds, Inc.. These shares are part of the total 24,592,005 shares reported as beneficially owned across Artisan-managed client accounts.

Who ultimately benefits from Artisan Partners’ Axalta (AXTA) holdings?

The filing explains the Axalta shares were acquired on behalf of discretionary clients of Artisan Partners Limited Partnership. Parties other than Artisan Partners Limited Partnership are entitled to receive all dividends and sale proceeds associated with those Axalta shares.

What voting and dispositive powers does Artisan report over Axalta (AXTA) shares?

Artisan reports shared voting power over 23,669,285 Axalta shares and shared dispositive power over 24,592,005 shares, with no sole voting or sole dispositive power. These figures reflect how control over voting and sale decisions is exercised across Artisan entities.