Affiliated Managers Group (AMG) Surpassed Expectations in Q4

Longleaf Partners, managed by Southeastern Asset Management, released its “Partners Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered an 8.63% return, compared to a 7.56% return for the S&P Index and a 12.42% return for the Russell 1000 Value Index. For 2022, the fund was 23.25% down while, the S&P 500 fell 18.11% and the Russell 1000 Value Index returned -7.54%. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Longleaf Partners Fund highlighted stocks Affiliated Managers Group, Inc. (NYSE:AMG) in the Q4 2022 investor letter. Based in West Palm Beach, Florida, Affiliated Managers Group, Inc. (NYSE:AMG) is an investment management company. On February 7, 2023, Affiliated Managers Group, Inc. (NYSE:AMG) stock closed at $170.40 per share. One-month return of Affiliated Managers Group, Inc. (NYSE:AMG) was 0.20%, and its shares gained 15.05% of their value over the last 52 weeks. Affiliated Managers Group, Inc. (NYSE:AMG) has a market capitalization of $6.419 billion.

Longleaf Partners Fund made the following comment about Affiliated Managers Group, Inc. (NYSE:AMG) in its Q4 2022 investor letter:

“Affiliated Managers Group, Inc. (NYSE:AMG) – Asset management holding company AMG was a top contributor in the quarter after reporting results and a positive outlook well ahead of expectations. CEO Jay Horgen is proving to be a great partner, and we believe it is still early days as AMG’s diversification of asset classes and management styles is becoming better appreciated.”

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Affiliated Managers Group, Inc. (NYSE:AMG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Affiliated Managers Group, Inc. (NYSE:AMG) at the end of the third quarter, which was 24 in the previous quarter.

We discussed Affiliated Managers Group, Inc. (NYSE:AMG) in another article and shared the list of biggest asset management companies in the world. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.