AFFILIATED MANAGERS GROUP, INC. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds (a) None. (b) None. (c) Purchases of Equity Securities by the Issuer: Period Total Number of Shares Purchased (1) Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Average Price Paid Per Share Maximum Number of Shares that May Yet Be Purchased Under Outstanding Plans or Programs (2) April 1-30, 2025 316,538 $ 157.17 316,538 $ 157.17 3,962,186 May 1-31, 2025 142,962 175.49 142,418 175.46 3,819,768 June 1-30, 2025 133,726 188.90 133,726 188.90 3,686,042 Total 593,226 168.74 592,682 168.72 ___________________________ (1) Includes shares surrendered to the Company to satisfy tax withholding and/or option exercise price obligations in connection with certain stock swap and option exercise transactions, if any. (2) Our Board of Directors authorized a share repurchase program in July 2024 to repurchase up to 5.4 million shares of our common stock, and this authorization has no expiry. Purchases may be made from time to time, at management’s discretion, in the open market or in privately negotiated transactions, including through the use of trading plans, as well as pursuant to accelerated share repurchase programs or other share repurchase strategies that may include derivative financial instruments. As of June 30, 2025 , there were a total of 3.7 million shares available for repurchase under our July 2024 share repurchase program. Item 6. Exhibits The exhibits are listed on the Exhibit Index below. 43 Table of Contents EXHIBIT INDEX Exhibit No. Description 31.1 Certification of Registrant’s Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002* 31.2 Certification of Registrant’s Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002* 32.1 Certification of Registrant’s Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002** 32.2 Certification of Registrant’s Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002** 101 The following financial statements from the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 are filed herewith, formatted in XBRL (Inline eXtensible Business Reporting Language): (i) the Consolidated Statements of Income for the six -month periods ended June 30, 2025 and 2024 , (ii) the Consolidated Statements of Comprehensive Income for the six -month periods ended June 30, 2025 and 2024 , (iii) the Consolidated Balance Sheets at June 30, 2025 and December 31, 2024 , (iv) the Consolidated Statements of Changes in Equity for the six -month periods ended June 30, 2025 and 2024 , (v) the Consolidated Statements of Cash Flows for the six -month periods ended June 30, 2025 and 2024 , and (vi) the Notes to the Consolidated Financial Statements 104 The cover page from the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 , formatted in XBRL (Inline eXtensible Business Reporting Language) and contained in Exhibit 101 * Filed herewith ** Furnished herewith 44 Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. AFFILIATED MANAGERS GROUP, INC. (Registrant) August 7, 2025 /s/ DAVA E. RITCHEA Dava E. Ritchea on behalf of the Registrant as Chief Financial Officer (and also as Principal Financial and Principal Accounting Officer) Table of Contents QuickLinks PART I—FINANCIAL INFORMATION Item 1. Financial Statements AFFILIATED MANAGERS GROUP, INC. CONSOLIDATED STATEMENTS OF INCOME (in millions, except per share data) (unaudited) AFFILIATED MANAGERS GROUP, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in millions) (unaudited) AFFILIATED MANAGERS GROUP, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (in millions) (unaudited) AFFILIATED MANAGERS GROUP, INC. CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (in millions, except dividends per share) (unaudited) AFFILIATED MANAGERS GROUP, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) (unaudited) AFFILIATED MANAGERS GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Item 3. Quantitative and Qualitative Disclosures About Market Risk Item 4. Controls and Procedures PART II—OTHER INFORMATION Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Item 6. Exhibits EXHIBIT INDEX SIGNATURES