Hedge Funds Are Crazy About Affiliated Managers Group, Inc. (AMG)

With a general bullishness amongst the heavyweights, key money managers were leading the bulls’ herd. Highbridge Capital Management, managed by Glenn Russell Dubin, initiated the most valuable position in Affiliated Managers Group, Inc. (NYSE:AMG). Highbridge Capital Management had $16.5 million invested in the company at the end of the quarter. David Harding’s Winton Capital Management also made a $11.1 million investment in the stock during the quarter. The other funds with new positions in the stock are John Overdeck and David Siegel’s Two Sigma Advisors, Millennium Management Subsidiary’s Blue Arrow Capital Management, and Anand Parekh’s Alyeska Investment Group.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Affiliated Managers Group, Inc. (NYSE:AMG) but similarly valued. We will take a look at HollyFrontier Corp (NYSE:HFC), Pentair plc. Ordinary Share (NYSE:PNR), Ultrapar Participacoes SA (ADR) (NYSE:UGP), and Microchip Technology Inc. (NASDAQ:MCHP). All of these stocks’ market caps resemble AMG’s market cap.

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $585 million. That figure was $548 million in AMG’s case. HollyFrontier Corp (NYSE:HFC) is the most popular stock in this table. On the other hand Ultrapar Participacoes SA (ADR) (NYSE:UGP) is the least popular one with only 6 bullish hedge fund positions. Affiliated Managers Group, Inc. (NYSE:AMG) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, HFC might be a better candidate to consider a long position.