13F-NT: AMG Files 13F Notice for Q2 2025 Holdings

Affiliated Managers Group, Inc. filed a Form 13F Notice for the quarter ended June 30, 2025, indicating that its holdings are reported by its various affiliated investment management firms.

Summary

• Affiliated Managers Group, Inc. (AMG) filed a Form 13F Notice for the calendar quarter ended June 30, 2025.
• This filing clarifies that AMG itself does not report specific security holdings in this document.
• All required holdings information is reported by AMG's various affiliated institutional investment management firms.
• AMG expressly disclaims beneficial ownership of all reported securities.
• AMG does not exercise voting or investment power over any reported security, with each affiliate exercising such power independently.
• Eighteen affiliated managers are listed as entities responsible for reporting holdings, including AMG Funds LLC, Artemis Investment Management LLP, and Parnassus Investments, LLC.

Sentiment

Score: 5

Explanation: Neutral, as this is a routine compliance filing (13F-NT) that provides no financial performance or strategic updates, only organizational reporting structure.

Positives

• Demonstrates compliance with SEC reporting requirements for institutional investment managers.
• Provides clear disclosure of the organizational structure regarding investment power and beneficial ownership within the AMG group.

Negatives

• No specific financial or operational negatives are disclosed in this routine compliance filing.

Risks

• The filing itself does not detail specific risks beyond the inherent nature of investment management.
• AMG disclaims beneficial ownership and direct control over reported securities, meaning its financial performance is indirectly tied to the performance of its affiliates, which operate independently.

Future Outlook

No specific future outlook or guidance regarding financial performance or strategic initiatives is provided in this compliance filing.

Management Comments

• "Affiliated Managers Group, Inc. ('AMG') is making this 13F information filing as a majority owner of certain affiliated institutional investment management firms that are subject to applicable 13F filing requirements."
• "AMG expressly disclaims beneficial ownership of all reported securities."
• "AMG does not exercise voting or investment power over any reported security."
• "Each AMG affiliate exercises such power independently of AMG and each other."

Industry Context

This filing is a standard compliance disclosure for large institutional investment managers like AMG, which operates through a network of affiliated firms. It clarifies the reporting structure for consolidated holdings within the asset management industry, particularly for entities that own multiple investment advisory businesses.

Comparison to Industry Standards

• AMG's organizational structure, where affiliated firms independently manage investment and voting power, is a common model among diversified asset management groups.
• The use of a 13F Notice filing is standard practice for parent companies that consolidate reporting through their subsidiaries, ensuring transparency while delineating direct control, similar to how other large multi-boutique asset managers operate.

Stakeholder Impact

• Shareholders: Provides transparency on the reporting structure of AMG's consolidated holdings, clarifying that direct investment decisions are made by affiliates rather than the parent company.
• Regulatory bodies: Fulfills SEC reporting requirements for institutional investment managers, ensuring compliance with disclosure obligations.

Next Steps

• Affiliated managers will continue to file their respective 13F reports detailing their specific security holdings as required by the SEC.

Key Dates

Keywords

Investment management, SEC filing, 13F, institutional investor, asset management, Affiliated Managers Group, AMG, holdings report, notice filing