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Form NPORT-P AMG FUNDS For: Mar 31

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StreetInsider.com Top Tickers, 4/23/2024

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6. AMZN
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8. NVDA
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10. MTTR


May 27, 2022 1:54 PM EDT 

  
    NPORT-P
    false
    
      
      
        
          0001089951
          XXXXXXXX
        
      
      
      
      
        S000037565
        C000115978
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      AMG Funds
      811-09521
      0001089951
      54930020IDQ6ZIPGNH13
      680 Washington Blvd.
      Suite 500
      Stamford
      
      06901
      800-548-4539
      AMG Yacktman Focused Fund
      S000037565
      549300CQ470A18W1Q189
      2022-12-31
      2022-03-31
      N
    
    
      4269310007.20
      4470208.04
      4264839799.16
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      
        
      
      
        
          
            UST
          
        
      
      
        
          
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        Booking Holdings Inc
        FXM8FAOHMYDIPD38UZ17
        Booking Holdings Inc
        09857L108
        
          
          
        
        35000.00000000
        NS
        USD
        82195750.00000000
        1.927288101564
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        W & T OFFSHORE INC
        549300Q7EOY2YIO3YK85
        W&T Offshore Inc
        92922PAL0
        
          
          
        
        22824000.00000000
        PA
        USD
        22709880.00000000
        0.532490810193
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-11-01
          Fixed
          9.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MICROSOFT CORP
        INR2EJN1ERAN0W5ZP974
        Microsoft Corp
        594918BQ6
        
          
          
        
        11500000.00000000
        PA
        USD
        11535441.85000000
        0.270477729369
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-08-08
          Fixed
          2.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Hyundai Motor Co
        9884004RQX8PRBXQ8S60
        Hyundai Motor Co
        000000000
        
          
          
          
        
        400000.00000000
        NS
        
        28427492.27000000
        0.666554750206
        Long
        EP
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        HENGAN INT'L
        N/A
        Hengan International Group Co Ltd
        000000000
        
          
          
          
        
        5872300.00000000
        NS
        
        27058241.70000000
        0.634449193269
        Long
        EC
        CORP
        CN
        N
        
        2
        
          N
          N
          N
        
      
      
        Hyundai Mobis Co Ltd
        988400HJA9E0ZVDHRS65
        Hyundai Mobis Co Ltd
        000000000
        
          
          
          
        
        260000.00000000
        NS
        
        45825160.13000000
        1.074487255981
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        PEPSICO INC
        FJSUNZKFNQ5YPJ5OT455
        PEPSICO INC
        713448108
        
          
          
        
        1200000.00000000
        NS
        USD
        200856000.00000000
        4.709579010202
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lockheed Martin Corp
        DPRBOZP0K5RM2YE8UU08
        Lockheed Martin Corp
        539830109
        
          
          
        
        95000.00000000
        NS
        USD
        41933000.00000000
        0.983225677275
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PEPSICO INC
        FJSUNZKFNQ5YPJ5OT455
        PepsiCo Inc
        713448EY0
        
          
          
        
        14623000.00000000
        PA
        USD
        14412285.06000000
        0.337932624405
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-05-01
          Fixed
          0.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Mitsuboshi Belting Ltd
        N/A
        Mitsuboshi Belting Ltd
        000000000
        
          
          
          
        
        91535.00000000
        NS
        
        1513261.79000000
        0.035482265718
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        MICROSOFT CORP
        INR2EJN1ERAN0W5ZP974
        Microsoft Corp
        594918BH6
        
          
          
        
        2000000.00000000
        PA
        USD
        2011280.88000000
        0.047159588043
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-11-03
          Fixed
          2.65000000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        L3Harris Technologies Inc
        549300UTE50ZMDBG8A20
        L3Harris Technologies Inc
        502431109
        
          
          
        
        170000.00000000
        NS
        USD
        42239900.00000000
        0.990421727172
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        COGNIZANT TECHNOLOGY SOLUTIONS CORP
        5493006IEVQEFQO40L83
        COGNIZANT TECH SOLUTIONS-A
        192446102
        
          
          
        
        1485800.00000000
        NS
        USD
        133231686.00000000
        3.123955231008
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Tyson Foods Inc
        WD6L6041MNRW1JE49D58
        Tyson Foods Inc
        902494103
        
          
          
        
        700000.00000000
        NS
        USD
        62741000.00000000
        1.471122080889
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AMERCO
        5493003WIDMLDHYC6Y24
        AMERCO
        023586100
        
          
          
        
        147000.00000000
        NS
        USD
        87750180.00000000
        2.057525818842
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fox Corp
        549300DDU6FDRBIELS05
        Fox Corp
        35137L204
        
          
          
        
        3000000.00000000
        NS
        USD
        108840000.00000000
        2.552030208061
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Samsung Electronics Co Ltd
        9884007ER46L6N7EI764
        Samsung Electronics Co Ltd
        000000000
        
          
          
          
        
        7250000.00000000
        NS
        
        375662018.05000000
        8.808350037532
        Long
        EP
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Charles Schwab Corp/The
        549300VSGCJ7E698NM85
        Charles Schwab Corp/The
        808513105
        
          
          
        
        855000.00000000
        NS
        USD
        72085050.00000000
        1.690217063116
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Continental AG
        529900A7YD9C0LLXM621
        Continental AG
        000000000
        
          
          
          
        
        400000.00000000
        NS
        
        28674495.16000000
        0.672346360246
        Long
        EC
        CORP
        DE
        N
        
        2
        
          N
          N
          N
        
      
      
        Yuasa Trading Co Ltd
        N/A
        Yuasa Trading Co Ltd
        000000000
        
          
          
          
        
        800000.00000000
        NS
        
        18917941.35000000
        0.443579178606
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        WEATHERFORD INTL LTD
        549300A2JKMG5PGOGF82
        Weatherford International Ltd
        947075AP2
        
          
          
        
        9022000.00000000
        PA
        USD
        9337770.00000000
        0.218947731678
        Long
        DBT
        CORP
        BM
        
        N
        
        2
        
          2024-12-01
          Fixed
          11.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Canadian Natural Resources Ltd
        549300T15RIMIKZC5Q38
        Canadian Natural Resources Ltd
        136385101
        
          
          
        
        4550000.00000000
        NS
        USD
        282009000.00000000
        6.612417189868
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        SYSCO CORP
        5RGWIFLMGH3YS7KWI652
        SYSCO CORP
        871829107
        
          
          
        
        900000.00000000
        NS
        USD
        73485000.00000000
        1.723042446154
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Associated British Foods PLC
        GBQKSY6W7G0OHCQ8OQ72
        Associated British Foods PLC
        000000000
        
          
          
          
        
        5900000.00000000
        NS
        
        128166567.02000000
        3.005190653239
        Long
        EC
        CORP
        GB
        N
        
        2
        
          N
          N
          N
        
      
      
        MICROSOFT CORP
        INR2EJN1ERAN0W5ZP974
        Microsoft Corp
        594918AT1
        
          
          
        
        19000000.00000000
        PA
        USD
        19072586.46000000
        0.447205225944
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-05-01
          Fixed
          2.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Nihon Parkerizing Co Ltd
        N/A
        Nihon Parkerizing Co Ltd
        000000000
        
          
          
          
        
        1868100.00000000
        NS
        
        14163971.21000000
        0.332110275579
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        JPMorgan US Government Money Market Fund
        549300NQ5E5B7ZV4T516
        JPMorgan US Government Money Market Fund
        4812C2270
        
          
          
        
        319326336.37000000
        NS
        USD
        319326336.37000000
        7.487416911483
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Berkshire Hathaway Inc
        5493000C01ZX7D35SD85
        Berkshire Hathaway Inc
        084670702
        
          
          
        
        100000.00000000
        NS
        USD
        35291000.00000000
        0.827487119374
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bollore SE
        969500LEKCHH6VV86P94
        Bollore SE
        000000000
        
          
          
          
        
        51746528.00000000
        NS
        
        270967355.25000000
        6.353517787546
        Long
        EC
        CORP
        FR
        N
        
        2
        
          N
          N
          N
        
      
      
        Walt Disney Co/The
        549300GZKULIZ0WOW665
        Walt Disney Co/The
        254687106
        
          
          
        
        300000.00000000
        NS
        USD
        41148000.00000000
        0.964819358703
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Alphabet Inc
        5493006MHB84DD0ZWV18
        Alphabet Inc
        02079K107
        
          
          
        
        50000.00000000
        NS
        USD
        139649500.00000000
        3.274437178801
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MSC Industrial Direct Co Inc
        0XVKH0LN6YGOWO2EGO17
        MSC Industrial Direct Co Inc
        553530106
        
          
          
        
        220000.00000000
        NS
        USD
        18746200.00000000
        0.439552266504
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ambev SA
        549300TH5Q6VRP8OT012
        Ambev SA
        02319V103
        
          
          
        
        6000000.00000000
        NS
        USD
        19380000.00000000
        0.454413317091
        Long
        EC
        CORP
        BR
        N
        
        1
        
          N
          N
          N
        
      
      
        CITIBANK INVESTMENTS LIMITED
        5493008TE4E4DNW1EX82
        CITIBANK NA
        000000000
        
          
        
        6173.00000000
        PA
        USD
        6173.00000000
        0.000144741661
        Long
        RA
        CORP
        US
        N
        
        2
        
          Repurchase
          
            
              
            
          
          Y
          0.30000000
          2022-04-01
          
            
              5830.26763240
              USD
              6296.46006074
              USD
              UST
            
          
        
        
          
          N
          N
        
      
      
        BANK OF NEW YORK MELLON CORP/THE
        WFLLPEPC7FZXENRZV188
        BANK OF NEW YORK MELLON CORP
        064058100
        
          
          
        
        650000.00000000
        NS
        USD
        32259500.00000000
        0.756405903132
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        KT&G Corp
        988400ZJV6ISYBLQX875
        KT&G Corp
        000000000
        
          
          
          
        
        1800000.00000000
        NS
        
        119754103.35000000
        2.807939078358
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        PEPSICO INC
        FJSUNZKFNQ5YPJ5OT455
        PepsiCo Inc
        713448CX4
        
          
          
        
        8000000.00000000
        PA
        USD
        8018886.08000000
        0.188023148761
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-07-17
          Fixed
          3.10000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Weatherford International PLC
        529900LPBDSCQDJKHQ39
        Weatherford International PLC
        000000000
        
          
          
          
        
        1700000.00000000
        NS
        USD
        56610000.00000000
        1.327365215714
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        COCA-COLA CO/THE
        UWJKFUJFZ02DKWI3RY53
        COCA-COLA CO/THE
        191216100
        
          
          
        
        1300000.00000000
        NS
        USD
        80600000.00000000
        1.889871690277
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        State Street Corp
        549300ZFEEJ2IP5VME73
        State Street Corp
        857477103
        
          
          
        
        800000.00000000
        NS
        USD
        69696000.00000000
        1.634199718679
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Societe BIC SA
        969500UR00DF63I0VH67
        Societe BIC SA
        000000000
        
          
          
          
        
        300000.00000000
        NS
        
        15156931.70000000
        0.355392755971
        Long
        EC
        CORP
        FR
        N
        
        2
        
          N
          N
          N
        
      
      
        Dreyfus Government Cash Management
        5493000Q69I5Q3QZIA91
        Dreyfus Government Cash Management
        262006208
        
          
          
        
        153729105.57000000
        NS
        USD
        153729105.57000000
        3.604569287697
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        US BANCORP
        N1GZ7BBF3NP8GI976H15
        US BANCORP
        902973304
        
          
          
        
        750000.00000000
        NS
        USD
        39862500.00000000
        0.934677546571
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        First Hawaiian Inc
        5493002DJSH46F5OLV06
        First Hawaiian Inc
        32051X108
        
          
          
        
        250000.00000000
        NS
        USD
        6972500.00000000
        0.163487969732
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ingredion Inc
        PKSTQ48QDN0XSVS7YK88
        Ingredion Inc
        457187102
        
          
          
        
        540000.00000000
        NS
        USD
        47061000.00000000
        1.103464660249
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hyundai Home Shopping Network
        N/A
        Hyundai Home Shopping Network Corp
        000000000
        
          
          
          
        
        600000.00000000
        NS
        
        29683833.51000000
        0.696012861159
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Northrop Grumman Corp
        RIMU48P07456QXSO0R61
        Northrop Grumman Corp
        666807102
        
          
          
        
        110000.00000000
        NS
        USD
        49194200.00000000
        1.153482951685
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        JOHNSON & JOHNSON
        549300G0CFPGEF6X2043
        JOHNSON & JOHNSON
        478160104
        
          
          
        
        430000.00000000
        NS
        USD
        76208900.00000000
        1.786911199220
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Reliance Steel & Aluminum Co
        549300E287ZOFT3C5Z56
        Reliance Steel & Aluminum Co
        759509102
        
          
          
        
        310000.00000000
        NS
        USD
        56838500.00000000
        1.332722978508
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Amorepacific Corp
        N/A
        Amorepacific Corp
        000000000
        
          
          
          
        
        250000.00000000
        NS
        
        16348635.02000000
        0.383335266736
        Long
        EP
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Samsung C&T Corp
        988400GFRE4IDFPE9E64
        Samsung C&T Corp
        000000000
        
          
          
          
        
        500000.00000000
        NS
        
        46685193.85000000
        1.094652930672
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        News Corp
        549300ITS31QK8VRBQ14
        News Corp
        65249B208
        
          
          
        
        200000.00000000
        NS
        USD
        4504000.00000000
        0.105607718275
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Brenntag SE
        NNROIXVWJ7CPSR27SV97
        Brenntag SE
        000000000
        
          
          
          
        
        1300000.00000000
        NS
        
        104820966.34000000
        2.457793757239
        Long
        EC
        CORP
        DE
        N
        
        2
        
          N
          N
          N
        
      
      
        ORACLE CORP
        1Z4GXXU7ZHVWFCD8TV52
        ORACLE CORP
        68389X105
        
          
          
        
        250000.00000000
        NS
        USD
        20682500.00000000
        0.484953737396
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Wells Fargo & Co
        PBLD0EJDB5FWOLXP3B76
        Wells Fargo & Co
        949746101
        
          
          
        
        500000.00000000
        NS
        USD
        24230000.00000000
        0.568133884062
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Rinnai Corp
        N/A
        Rinnai Corp
        000000000
        
          
          
          
        
        110000.00000000
        NS
        
        8228417.64000000
        0.192936148307
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        MICROSOFT CORP
        INR2EJN1ERAN0W5ZP974
        MICROSOFT CORP
        594918104
        
          
          
        
        570000.00000000
        NS
        USD
        175736700.00000000
        4.120593229190
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PROCTER & GAMBLE CO/THE
        2572IBTT8CCZW6AU4141
        PROCTER & GAMBLE CO/THE
        742718109
        
          
          
        
        630000.00000000
        NS
        USD
        96264000.00000000
        2.257153950283
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        News Corp
        549300ITS31QK8VRBQ14
        News Corp
        65249B109
        
          
          
        
        3685000.00000000
        NS
        USD
        81622750.00000000
        1.913852661384
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Macy's Inc
        529900NZQ81TIOW3CW52
        Macy's Inc
        55616P104
        
          
          
        
        450000.00000000
        NS
        USD
        10962000.00000000
        0.257031928893
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hyundai Motor Co
        9884004RQX8PRBXQ8S60
        Hyundai Motor Co
        000000000
        
          
          
          
        
        500000.00000000
        NS
        
        35368289.20000000
        0.829299360950
        Long
        EP
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
    
    
      2022-05-25
      AMG Funds
      Thomas Disbrow
      Thomas Disbrow
      Principal Financial Officer
    
  
  XXXX
AMG Yacktman Focused Fund
Schedule of Portfolio Investments (unaudited)
March 31, 2022
  Shares Value
Common Stocks - 75.8%    
Communication Services - 15.2%    
Alphabet, Inc., Class C* 50,000 $139,649,500
Bolloré SA (France) 51,746,528 270,967,355
Fox Corp., Class B 3,000,000 108,840,000
News Corp., Class A 3,685,000 81,622,750
News Corp., Class B 200,000 4,504,000
The Walt Disney Co.* 300,000 41,148,000
     
Total Communication Services   646,731,605
Consumer Discretionary - 4.8%    
Booking Holdings, Inc.* 35,000 82,195,750
Continental AG (Germany)* 400,000 28,674,495
Hyundai Home Shopping Network Corp. (South Korea)1 600,000 29,683,834
Hyundai Mobis Co., Ltd. (South Korea) 260,000 45,825,160
Macy's, Inc. 450,000 10,962,000
Rinnai Corp. (Japan) 110,000 8,228,418
     
Total Consumer Discretionary   205,569,657
Consumer Staples - 20.1%    
Ambev S.A., ADR (Brazil) 6,000,000 19,380,000
Associated British Foods PLC (United Kingdom) 5,900,000 128,166,567
The Coca-Cola Co. 1,300,000 80,600,000
Hengan International Group Co., Ltd. (China) 5,872,300 27,058,242
Ingredion, Inc. 540,000 47,061,000
KT&G Corp. (South Korea) 1,800,000 119,754,103
PepsiCo, Inc. 1,200,000 200,856,000
The Procter & Gamble Co. 630,000 96,264,000
Sysco Corp. 900,000 73,485,000
Tyson Foods, Inc., Class A 700,000 62,741,000
     
Total Consumer Staples   855,365,912
Energy - 7.9%    
Canadian Natural Resources, Ltd. (Canada) 4,550,000 282,009,000
Weatherford International PLC* 1,700,000 56,610,000
     
Total Energy   338,619,000
Financials - 6.6%    
The Bank of New York Mellon Corp. 650,000 32,259,500
Berkshire Hathaway, Inc., Class B* 100,000 35,291,000
The Charles Schwab Corp. 855,000 72,085,050
First Hawaiian, Inc. 250,000 6,972,500
State Street Corp. 800,000 69,696,000
U.S. Bancorp 750,000 39,862,500
Wells Fargo & Co. 500,000 24,230,000
     
Total Financials   280,396,550
  Shares Value
Health Care - 1.8%    
Johnson & Johnson 430,000 $76,208,900
Industrials - 10.0%    
AMERCO 147,000 87,750,180
Brenntag SE (Germany) 1,300,000 104,820,966
L3Harris Technologies, Inc. 170,000 42,239,900
Lockheed Martin Corp. 95,000 41,933,000
Mitsuboshi Belting, Ltd. (Japan) 91,535 1,513,262
MSC Industrial Direct Co., Inc., Class A 220,000 18,746,200
Northrop Grumman Corp. 110,000 49,194,200
Samsung C&T Corp. (South Korea) 500,000 46,685,194
Societe BIC, S.A. (France) 300,000 15,156,932
Yuasa Trading Co., Ltd. (Japan) 800,000 18,917,941
     
Total Industrials   426,957,775
Information Technology - 7.7%    
Cognizant Technology Solutions Corp., Class A 1,485,800 133,231,686
Microsoft Corp. 570,000 175,736,700
Oracle Corp. 250,000 20,682,500
     
Total Information Technology   329,650,886
Materials - 1.7%    
Nihon Parkerizing Co., Ltd. (Japan) 1,868,100 14,163,971
Reliance Steel & Aluminum Co. 310,000 56,838,500
     
Total Materials   71,002,471
     
Total Common Stocks
(Cost $2,244,482,884) 		  3,230,502,756
    
  Principal
Amount 		 
Corporate Bonds and Notes - 2.0%    
Energy - 0.5%    
W&T Offshore, Inc.    
9.750%, 11/01/232 $22,824,000 22,709,880
Industrials - 1.5%    
Microsoft Corp.    
2.000%, 08/08/23 11,500,000 11,535,442
2.375%, 05/01/23 19,000,000 19,072,586
2.650%, 11/03/223 2,000,000 2,011,281
PepsiCo, Inc.    
0.750%, 05/01/23 14,623,000 14,412,285
3.100%, 07/17/22 8,000,000 8,018,886
Weatherford International, Ltd. (Bermuda)    
11.000%, 12/01/242 9,022,000 9,337,770
     
Total Industrials   64,388,250
     
Total Corporate Bonds and Notes
(Cost $85,415,732) 		  87,098,130
    
1
AMG Yacktman Focused Fund
Schedule of Portfolio Investments (continued)
  Shares Value
Preferred Stocks - 10.7%    
Consumer Discretionary - 1.5%    
Hyundai Motor Co., 5.60% (South Korea) 400,000 $28,427,493
Hyundai Motor Co., 5.630% (South Korea) 500,000 35,368,289
     
Total Consumer Discretionary   63,795,782
Consumer Staples - 0.4%    
Amorepacific Corp., 1.270% (South Korea) 250,000 16,348,635
Information Technology - 8.8%    
Samsung Electronics Co., Ltd., 2.400% (South Korea) 7,250,000 375,662,018
     
Total Preferred Stocks
(Cost $247,281,505) 		  455,806,435
    
  Principal
Amount 		 
Short-Term Investments - 11.1%    
Joint Repurchase Agreements - 0.0%#,4    
Citibank N.A., dated 03/31/22, due 04/01/22, 0.300% total to be received $6,173 (collateralized by various U.S. Treasuries, 0.000% - 7.125%, 04/07/22 - 02/15/50, totaling $6,296) $6,173 6,173
    
  Shares Value
Other Investment Companies - 11.1%    
Dreyfus Government Cash Management Fund, Institutional Shares, 0.19%5 153,729,106 $153,729,106
JPMorgan U.S. Government Money Market Fund, IM Shares, 0.25%5 319,326,336 319,326,336
     
Total Other Investment Companies   473,055,442
     
Total Short-Term Investments
(Cost $473,061,615) 		  473,061,615
Total Investments - 99.6%
(Cost $3,050,241,736) 		   4,246,468,936
Other Assets, less Liabilities - 0.4%    17,657,025
Net Assets - 100.0%   $4,264,125,961
* Non-income producing security.
# Less than 0.05%.
1 Affiliated issuer. See summary of affiliated investment transaction for details.
2 Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2022, the value of these securities amounted to $32,047,650 or 0.8% of net assets.
3 Some of these securities, amounting to $1,639,194 or less than 0.05% of net assets, were out on loan to various borrowers and are collateralized by cash and various U.S. Treasury Obligations. See below for more information.
4 Cash collateral received for securities lending activity was invested in these joint repurchase agreements.
5 Yield shown represents the March 31, 2022, seven day average yield, which refers to the sum of the previous seven days' dividends paid, expressed as an annual percentage.
    
ADR American Depositary Receipt
The following schedule shows the value of affiliated investments at March 31, 2022.
Affiliated
Issuers 		Number
of shares 		Purchases Sales Net realized
gain (loss) for
the period 		Net change in
appreciation
(depreciation) 		Amount of
Dividends or
Interest 		Value
Hyundai Home Shopping Network Corp. 600,000 $2,058,218 - - ($2,253,877) - $29,683,834
2
AMG Yacktman Focused Fund
Schedule of Portfolio Investments (continued)
The following table summarizes the inputs used to value the Fund's investments by the fair value hierarchy levels as of March 31, 2022:
  Level 1   Level 21   Level 3   Total
Investments in Securities
Common Stocks
Consumer Staples  $580,387,000    $274,978,912    —    $855,365,912
Communication Services  375,764,250    270,967,355    —    646,731,605
Industrials  239,863,480    187,094,295    —    426,957,775
Energy  338,619,000    —    —    338,619,000
Information Technology  329,650,886    —    —    329,650,886
Financials  280,396,550    —    —    280,396,550
Consumer Discretionary  93,157,750    112,411,907    —    205,569,657
Health Care  76,208,900    —    —    76,208,900
Materials  56,838,500    14,163,971    —    71,002,471
Corporate Bonds and Notes†  —    87,098,130    —    87,098,130
Preferred Stocks†  —    455,806,435    —    455,806,435
Short-Term Investments
Joint Repurchase Agreements  —    6,173    —    6,173
Other Investment Companies  473,055,442    —    —    473,055,442
Total Investments in Securities $2,843,941,758   $1,402,527,178   —   $4,246,468,936
    
   
† All corporate bonds and notes and preferred stocks held in the Fund are level 2 securities. For a detailed breakout of corporate bonds and notes and preferred stocks by major industry classification, please refer to the Fund's Schedule of Portfolio Investments.
1 An external pricing service is used to reflect any impact on security value due to market movements between the time the Fund valued such foreign securities and the earlier closing of foreign markets.
For the period ended March 31, 2022, there were no transfers in or out of Level 3. 
    
The country allocation in the Schedule of Portfolio Investments at March 31, 2022, was as follows:
Country % of Long-Term
Investments
Bermuda 0.3
Brazil 0.5
Canada 7.5
China 0.7
France 7.6
Germany 3.5
Japan 1.1
South Korea 18.5
United Kingdom 3.4
United States 56.9
  100.0
3
AMG Yacktman Focused Fund
Schedule of Portfolio Investments (continued)
The Fund participates in the securities lending program offered by The Bank of New York Mellon providing for the lending of securities to qualified brokers. The value of securities loaned on positions held, cash collateral and securities collateral received at March 31, 2022, were as follows:
  Securities
Loaned 		Cash
Collateral
Received 		Securities
Collateral
Received 		Total
Collateral
Received
   $1,639,194  $6,173  $1,690,331  $1,696,504
The following table summarizes the securities received as collateral for securities lending at March 31, 2022:
  Collateral
Type 		Coupon
Range 		Maturity
Date Range
  U.S. Treasury Obligations 0.000%-6.000% 08/04/22-05/15/50
For additional information about significant accounting policies, including valuation of investments, refer to the Fund’s most recent semi or annual report.
4

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