Orso Partners Takes Short Position in Affiliated Managers Group
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy AMG?
Orso Partners has taken a short position in Affiliated Managers Group, the company that backs AQR Capital Management, Loukia Gyftopoulou of Bloomberg reports, citing a letter to the fund's investors. AQR's recent growth "is built on regulatory arbitrage that faces immediate scrutiny," Orso portfolio manager Nathan Koppikar wrote in the letter. Orso contends the most direct way to play the "inevitable fallout" of AQR is by betting against Affiliated Managers, Gyftopoulou points out. Shares of Affiliated are down 1% to $295.77 following Bloomberg's report.
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Analyst Views on AMG
Wall Street analysts forecast AMG stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 300.970
Low
341.00
Averages
426.33
High
495.00
Current: 300.970
Low
341.00
Averages
426.33
High
495.00
About AMG
Affiliated Managers Group, Inc. is a global independent investment management company. The Company is focused on investing in independent partner-owned investment firms, known as Affiliates. Its Affiliates provide a diverse range of differentiated investment strategies designed to assist institutional and wealth clients in achieving their investment objectives. Its Affiliates also provide investment management and customized investment counseling and fiduciary services to high-net worth individuals and families and institutional clients. It manages its assets across a range of private markets, liquid alternative and differentiated long-only investment strategies. The Company’s Affiliates operate in a diverse number of areas with long-term structural tailwinds, long-dated capital commitments, and the growing potential to generate and realize carried interest over time.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Short Position on AMG Raises Concerns
- Short Position Revealed: Hedge fund Orso Partners disclosed a short position in Affiliated Managers Group (AMG), causing its stock to drop by 1.5%, indicating market concerns about the company's future performance.
- Increased Regulatory Risks: The rationale behind Orso's short call is the apprehension that AMG's tax loss harvesting strategies may face regulatory restrictions, suggesting that the company is encountering heightened compliance risks that could impact profitability.
- Market Sensitivity: Orso portfolio manager Nathan Koppikar noted that AMG's recent growth relies on regulatory arbitrage, which is now under scrutiny, potentially shaking investor confidence in the company's future performance.
- Lack of Response: AMG did not promptly respond to Seeking Alpha's request for comment, which may lead to investor questions regarding the company's transparency and governance, further affecting market sentiment.
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- Positive Market Response: The successful issuance reflects strong market confidence in AMG's growth potential, with the new shares expected to be listed and traded on Euronext Amsterdam following settlement on April 13, 2026, enhancing the company's image in the capital markets.
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- Market Leadership: AMG holds a leading position in recycling vanadium from oil refining residues, further solidifying its market share in the vanadium, titanium, and chrome sectors.
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See More
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- Market Reaction: Following the report, several stocks declined, with Affiliated Managers Group (NYSE:AMG) down 3.9%, Credit Acceptance (NASDAQ:CACC) down 3.5%, and Ally Financial (NYSE:ALLY) down 4%, reflecting investor concerns about the economic outlook.
- Increased Credit Risk: A weakening economy may lead to reduced borrowing and investment activity by businesses and consumers, raising concerns about borrowers' ability to repay existing loans, which increases credit risk for lenders and could affect their profitability.
- Inflation Expectations Impact: Prior to this, the Producer Price Index (PPI) unexpectedly rose by 0.5%, exceeding expectations, dampening market optimism for near-term interest rate cuts from the Federal Reserve, and intensifying expectations for prolonged high interest rates, triggering broad market sell-offs.
See More
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- New Investment Position: Aerodigm Wealth, LLC disclosed in an SEC filing dated February 5, 2026, that it acquired 88,749 shares of Affiliated Managers Group, with an estimated transaction value of $25.58 million, indicating strong confidence in the asset management sector.
- Portfolio Optimization: This acquisition positions Affiliated Managers Group as Aerodigm Wealth's second-largest holding, accounting for 9% of its total 13F assets under management, reflecting a strategic emphasis on diversified investment strategies.
- Strong Market Performance: As of February 5, 2026, Affiliated Managers Group shares were priced at $301.55, representing a 65.3% increase over the past year, significantly outperforming the S&P 500, which underscores market confidence in its business model.
- Financial Health: The company reported trailing twelve-month revenue of $2.3 billion and net income of $716.7 million, demonstrating robust profitability, although with a minimal dividend yield of 0.01%, investors remain optimistic about its growth potential.
See More
Short Position on AMG Raises Concerns
- Short Position Revealed: Hedge fund Orso Partners disclosed a short position in Affiliated Managers Group (AMG), causing its stock to drop by 1.5%, indicating market concerns about the company's future performance.
- Increased Regulatory Risks: The rationale behind Orso's short call is the apprehension that AMG's tax loss harvesting strategies may face regulatory restrictions, suggesting that the company is encountering heightened compliance risks that could impact profitability.
- Market Sensitivity: Orso portfolio manager Nathan Koppikar noted that AMG's recent growth relies on regulatory arbitrage, which is now under scrutiny, potentially shaking investor confidence in the company's future performance.
- Lack of Response: AMG did not promptly respond to Seeking Alpha's request for comment, which may lead to investor questions regarding the company's transparency and governance, further affecting market sentiment.
See More
Parnassus Value Equity Fund's Q1 2026 Strategic Investment Moves
- New Investment Highlights: In Q1 2026, Parnassus Value Equity Fund added 634,492 shares of AstraZeneca (NYSE:AZN), representing 2.73% of the portfolio with a total value of $125.13 million, indicating confidence in the biopharmaceutical sector.
- Key Stock Increases: The fund increased its stake in JPMorgan Chase & Co by 72,858 shares, a 14.59% rise, bringing total holdings to 572,217 shares, reflecting optimism in the financial services industry with a current total value of $168.32 million.
- Strategic Reductions: The fund completely exited its position in AstraZeneca by selling 1,227,628 shares, resulting in a -2.37% impact on the portfolio, showcasing its agility in responding to market dynamics.
- Industry Concentration Analysis: As of Q1 2026, the fund's portfolio included 45 stocks, primarily concentrated in 10 industries such as Financial Services, Technology, and Healthcare, indicating a strategic approach to diversified investments.
See More
AMG Successfully Places 3,250,416 New Shares
- Successful Share Placement: AMG has successfully placed 3,250,416 new ordinary shares through an accelerated bookbuilding process, representing 10% of its issued share capital as of December 31, 2024, at a price of €34.00 per share, raising over €110 million to significantly bolster its capital base for future growth.
- Clear Use of Proceeds: The net proceeds from this offering will be utilized to expedite AMG's construction of a 5,000-ton facility in Bitterfeld, Germany, converting technical-grade recycled lithium carbonate into lithium hydroxide, as well as expanding high-purity molybdenum recycling in Helbra, demonstrating the company's commitment to sustainability.
- Positive Market Response: The successful issuance reflects strong market confidence in AMG's growth potential, with the new shares expected to be listed and traded on Euronext Amsterdam following settlement on April 13, 2026, enhancing the company's image in the capital markets.
- Management's Commitment to Stability: AMG's management has agreed not to issue or dispose of additional ordinary shares for 90 days post-settlement, aiming to maintain market stability and bolster investor confidence, ensuring the company remains competitive in a rapidly changing market environment.
See More
AMG Releases 2025 Annual Report Highlighting Strategic Focus
- Annual Report Release: AMG published its 2025 Annual Report on March 16, 2026, which is available on the company’s website, showcasing the latest developments and financial status in the critical materials sector.
- Strategic Business Focus: AMG is committed to the production and development of energy storage materials such as lithium, vanadium, and tantalum, aiming to advance a low-carbon world and enhance its competitive position in the global market.
- Market Leadership: AMG holds a leading position in recycling vanadium from oil refining residues, further solidifying its market share in the vanadium, titanium, and chrome sectors.
- Global Operational Network: With approximately 3,600 employees, AMG operates production facilities across multiple countries, including Germany, the United States, and China, demonstrating its strong international operational capabilities.
See More
U.S. Jobs Report Unexpectedly Weak, Stock Market Declines
- Weak Job Market: The U.S. economy unexpectedly lost 92,000 jobs in February, contrasting sharply with economists' forecasts of a 60,000 gain, while the unemployment rate rose to 4.4% from 4.3% in January, indicating potential economic strain that directly impacts financial sector revenues.
- Market Reaction: Following the report, several stocks declined, with Affiliated Managers Group (NYSE:AMG) down 3.9%, Credit Acceptance (NASDAQ:CACC) down 3.5%, and Ally Financial (NYSE:ALLY) down 4%, reflecting investor concerns about the economic outlook.
- Increased Credit Risk: A weakening economy may lead to reduced borrowing and investment activity by businesses and consumers, raising concerns about borrowers' ability to repay existing loans, which increases credit risk for lenders and could affect their profitability.
- Inflation Expectations Impact: Prior to this, the Producer Price Index (PPI) unexpectedly rose by 0.5%, exceeding expectations, dampening market optimism for near-term interest rate cuts from the Federal Reserve, and intensifying expectations for prolonged high interest rates, triggering broad market sell-offs.
See More
Aerodigm Wealth Acquires Stake in Affiliated Managers Group
- New Investment Position: Aerodigm Wealth, LLC disclosed in an SEC filing dated February 5, 2026, that it acquired 88,749 shares of Affiliated Managers Group, with an estimated transaction value of $25.58 million, indicating strong confidence in the asset management sector.
- Portfolio Optimization: This acquisition positions Affiliated Managers Group as Aerodigm Wealth's second-largest holding, accounting for 9% of its total 13F assets under management, reflecting a strategic emphasis on diversified investment strategies.
- Strong Market Performance: As of February 5, 2026, Affiliated Managers Group shares were priced at $301.55, representing a 65.3% increase over the past year, significantly outperforming the S&P 500, which underscores market confidence in its business model.
- Financial Health: The company reported trailing twelve-month revenue of $2.3 billion and net income of $716.7 million, demonstrating robust profitability, although with a minimal dividend yield of 0.01%, investors remain optimistic about its growth potential.
See More
