Is Affiliated Managers Group, Inc. (AMG) Going to Burn These Hedge Funds?

As industrywide interest jumped, specific money managers were leading the bulls’ herd. Passport Capital, managed by John Burbank, assembled the most valuable position in Affiliated Managers Group, Inc. (NYSE:AMG). The fund had $52.4 million invested in the company at the end of the quarter. Greg Poole’s Echo Street Capital Management also initiated a $15.6 million position during the quarter. The following funds were also among the new AMG investors: Joe DiMenna’s ZWEIG DIMENNA PARTNERS and Jim Simons’s Renaissance Technologies.

Let’s now review hedge fund activity in other stocks similar to Affiliated Managers Group, Inc. (NYSE:AMG). We will take a look at Unum Group (NYSE:UNM), YPF SA (ADR) (NYSE:YPF), Lear Corporation (NYSE:LEA), and Teck Resources Ltd (USA) (NYSE:TCK). All of these stocks’ market caps resemble AMG’s market cap.

As you can see these stocks had an average of 25 hedge funds with bullish positions and the average amount invested in these stocks was $522 million. That figure was $747 million in AMG’s case. Teck Resources Ltd (USA) (NYSE:TCK) is the most popular stock in this table. On the other hand Unum Group (NYSE:UNM) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks Affiliated Managers Group, Inc. (NYSE:AMG) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.