# EDGAR Filing Document

**Accession Number:** 0001089951
**File Stem:** 0000940400-25-011540
**Filing Date:** 2025-11
**Character Count:** 35326
**Document Hash:** f00d545e2a6a1b894e81aea34c29958f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-011540.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000940400-25-011540

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMG FUNDS
- **CENTRAL INDEX KEY:** 0001089951

**ORGANIZATION NAME:**
- **EIN:** 061555943
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09521
- **FILM NUMBER:** 251534560

**BUSINESS ADDRESS:**
- **STREET 1:** 680 WASHINGTON BOULEVARD, SUITE 500
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06901
- **BUSINESS PHONE:** 2032993500

**MAIL ADDRESS:**
- **STREET 1:** 680 WASHINGTON BOULEVARD, SUITE 500
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06901

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANAGERS AMG FUNDS
- **DATE OF NAME CHANGE:** 19990706

## Series and Classes Contracts Data

### AMG Yacktman Special Opportunities Fund (Series ID: S000045879)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000142968 | Class Z      | YASLX           |
| C000142969 | Class I      | YASSX           |

## Nport-Ex

AMG Yacktman Special Opportunities Fund

Schedule of Portfolio Investments *(unaudited)*

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | Shares | &nbsp;&nbsp;Value |
| **Common Stocks - 94.3%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services - 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;AlphaPolis Co., Ltd. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;$237001 |
| &nbsp;&nbsp;&nbsp;Reading International, Inc., Class A (United States)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;124950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Communication Services |  | &nbsp;&nbsp;&nbsp;&nbsp;361951 |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary - 13.9%** |  |  |
| &nbsp;&nbsp;&nbsp;A-Mark Precious Metals, Inc. (United States) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;232830 |
| &nbsp;&nbsp;&nbsp;America's Car-Mart, Inc. (United States)<sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;671830 |
| &nbsp;&nbsp;&nbsp;Legacy Housing Corp. (United States)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;1650600 |
| &nbsp;&nbsp;&nbsp;Nihon Trim Co., Ltd. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;188001 |
| &nbsp;&nbsp;&nbsp;Texhong International Group, Ltd. (Hong Kong) | &nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;1007459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Consumer Discretionary |  | &nbsp;&nbsp;&nbsp;3750720 |
| &nbsp;&nbsp;&nbsp;**Consumer Staples - 9.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Delfi, Ltd. (Singapore) | &nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;673670 |
| &nbsp;&nbsp;&nbsp;Italian Wine Brands S.p.A. (Italy) | &nbsp;&nbsp;&nbsp;&nbsp;61500 | &nbsp;&nbsp;&nbsp;&nbsp;1617423 |
| &nbsp;&nbsp;&nbsp;Naked Wines PLC (United Kingdom)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;258893 |
| &nbsp;&nbsp;&nbsp;NeoPharm Co., Ltd. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Consumer Staples |  | &nbsp;&nbsp;2663409 |
| &nbsp;&nbsp;&nbsp;**Energy - 23.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Amplify Energy Corp. (United States)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;341250 |
| &nbsp;&nbsp;&nbsp;Arrow Exploration Corp. (Canada)<sup>\*</sup> | 7000000 | &nbsp;&nbsp;&nbsp;&nbsp;1270931 |
| &nbsp;&nbsp;&nbsp;Hargreaves Services PLC (United Kingdom) | &nbsp;&nbsp;&nbsp;&nbsp;84395 | &nbsp;&nbsp;&nbsp;&nbsp;805870 |
| &nbsp;&nbsp;&nbsp;Hemisphere Energy Corp. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;221700 | &nbsp;&nbsp;&nbsp;&nbsp;352056 |
| &nbsp;&nbsp;&nbsp;Horizon Oil, Ltd. (Australia) | 5250000 | &nbsp;&nbsp;&nbsp;&nbsp;763364 |
| &nbsp;&nbsp;&nbsp;Mi Chang Oil Industrial Co., Ltd. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;379530 |
| &nbsp;&nbsp;&nbsp;Noram Drilling A.S. (Norway) | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;136279 |
| &nbsp;&nbsp;&nbsp;Pardee Resources Co. (United States) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;232000 |
| &nbsp;&nbsp;&nbsp;Total Energy Services, Inc. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;1707264 |
| &nbsp;&nbsp;&nbsp;Unit Corp. (United States) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;269865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Energy |  | &nbsp;&nbsp;6258409 |
| &nbsp;&nbsp;&nbsp;**Financials - 8.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Omni Bridgeway, Ltd. (Australia)<sup>\*</sup> | 2040000 | &nbsp;&nbsp;&nbsp;2294776 |
| &nbsp;&nbsp;&nbsp;**Health Care - 7.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Ion Beam Applications (Belgium)<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;746937 |
| &nbsp;&nbsp;&nbsp;Koa Shoji Holdings Co., Ltd. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;441527 |
| &nbsp;&nbsp;&nbsp;Medical Facilities Corp. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;863620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Health Care |  | &nbsp;&nbsp;2052084 |
| &nbsp;&nbsp;&nbsp;**Industrials - 24.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Boustead Singapore, Ltd. (Singapore) | &nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;165278 |

---

---

| | | |
|:---|:---|:---|
|  | Shares | &nbsp;&nbsp;Value |
| &nbsp;&nbsp;&nbsp;Brickability Group PLC (United Kingdom) | 1275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1005730 |
| &nbsp;&nbsp;&nbsp;Cie de L'Odet SE (France) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882247 |
| &nbsp;&nbsp;&nbsp;Fila S.p.A. (Italy) | &nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260099 |
| &nbsp;&nbsp;&nbsp;Komelon Corp. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140007 |
| &nbsp;&nbsp;&nbsp;Macfarlane Group PLC (United Kingdom) | &nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113709 |
| &nbsp;&nbsp;&nbsp;Maezawa Industries, Inc. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284427 |
| &nbsp;&nbsp;&nbsp;Mitani Corp. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217976 |
| &nbsp;&nbsp;&nbsp;Sam Yung Trading Co., Ltd. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624212 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co., Non-Voting Shares (United States) | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Industrials |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6711685 |
| &nbsp;&nbsp;&nbsp;**Information Technology - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Bixolon Co., Ltd. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130419 |
| &nbsp;&nbsp;&nbsp;**Materials - 3.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Amerigo Resources, Ltd. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136811 |
| &nbsp;&nbsp;&nbsp;KISCO Holdings Co., Ltd. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;6839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126003 |
| &nbsp;&nbsp;&nbsp;Master Drilling Group, Ltd. (South Africa) | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182397 |
| &nbsp;&nbsp;&nbsp;Okamoto Industries, Inc. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376873 |
| &nbsp;&nbsp;&nbsp;SK Kaken Co., Ltd. (Japan) | &nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Materials |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003194 |
| &nbsp;&nbsp;&nbsp;**Utilities - 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Maxim Power Corp. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;50500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165467 |
| **Total Common Stocks<br> (Cost $19,708,748)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25392114 |
| **Preferred Stock - 3.5%** |  |  |
| &nbsp;&nbsp;&nbsp;**Information Technology - 3.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd., 1.87% (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949220 |
| **Total Preferred Stock<br> (Cost $320,545)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949220 |
| **Short-Term Investments - 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;**Other Investment Companies - 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 4.09%<sup>2</sup> | &nbsp;&nbsp;&nbsp;531026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531026 |
| **Total Short-Term Investments<br> (Cost $531,026)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531026 |
| **Total Investments - 99.8%<br> (Cost $20,560,319)** |  | &nbsp;&nbsp;&nbsp;&nbsp; 26872360 |
| **Other Assets, less Liabilities - 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56162 |
| **Net Assets - 100.0%** |  | &nbsp;&nbsp;**$26928522** |

---

------

AMG Yacktman Special Opportunities Fund

Schedule of Portfolio Investments *(continued)*

<sup>\*</sup> Non-income producing security.

<sup>1</sup> Some of these securities, amounting to $904,132 or 3.4% of net assets, were out on loan to various borrowers and are collateralized by various U.S. Treasury Obligations. See below for more information.

<sup>2</sup> Yield shown represents the September 30, 2025, seven day average yield, which refers to the sum of the previous seven days' dividends paid, expressed as an annual percentage.

The following table summarizes the inputs used to value the Fund's investments by the fair value hierarchy levels as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2<sup>1</sup>** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| &nbsp;&nbsp;**Investments in Securities** | &nbsp;&nbsp;**Investments in Securities** | &nbsp;&nbsp;**Investments in Securities** | &nbsp;&nbsp;**Investments in Securities** | &nbsp;&nbsp;**Investments in Securities** |
| &nbsp;&nbsp;&nbsp;**Common Stocks** | &nbsp;&nbsp;&nbsp;**Common Stocks** | &nbsp;&nbsp;&nbsp;**Common Stocks** | &nbsp;&nbsp;&nbsp;**Common Stocks** | &nbsp;&nbsp;&nbsp;**Common Stocks** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp; $1807490 | &nbsp;&nbsp;&nbsp;&nbsp; $4904195 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; $6711685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | &nbsp;&nbsp;&nbsp;&nbsp; 5495045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 763364 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6258409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Discretionary | &nbsp;&nbsp;&nbsp;&nbsp; 3562719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188001 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3750720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 932563 | &nbsp;&nbsp;&nbsp;&nbsp; 1730846 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2663409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp; 2294776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2294776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 863620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1188464 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2052084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 557983 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1003194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237001 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 361951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130419 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130419 |
| &nbsp;&nbsp;&nbsp;**Preferred Stock<sup>†</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 949220 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 949220 |
| &nbsp;&nbsp;&nbsp;**Short-Term Investments** | &nbsp;&nbsp;&nbsp;**Short-Term Investments** | &nbsp;&nbsp;&nbsp;**Short-Term Investments** | &nbsp;&nbsp;&nbsp;**Short-Term Investments** | &nbsp;&nbsp;&nbsp;**Short-Term Investments** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 531026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 531026 |
| &nbsp;&nbsp;**Total Investments in Securities** | &nbsp;&nbsp;$16222867 | &nbsp;&nbsp;$10649493 | &nbsp;&nbsp;— | &nbsp;&nbsp;$26872360 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup>†</sup> | All preferred stocks held in the Fund are Level 2 securities. For a detailed breakout of preferred stocks by major industry classification, please refer to Schedule of Portfolio Investments. |
| &nbsp;&nbsp;<sup>1</sup> | 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 September 30, 2025, there were no transfers in or out of Level 3.

------

AMG Yacktman Special Opportunities Fund

Schedule of Portfolio Investments *(continued)*

The country allocation in the Schedule of Portfolio Investments at September 30, 2025, was as follows:

---

| | |
|:---|:---|
| **Country** | &nbsp;&nbsp;**% of Long-Term<br> Investments** |
| Australia | &nbsp;&nbsp;&nbsp;&nbsp;11.6 |
| Belgium | &nbsp;&nbsp;&nbsp;&nbsp;2.8 |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp;17.1 |
| France | &nbsp;&nbsp;&nbsp;&nbsp;3.4 |
| Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;3.8 |
| Italy | &nbsp;&nbsp;&nbsp;&nbsp;10.9 |
| Japan | &nbsp;&nbsp;&nbsp;&nbsp;7.3 |
| Norway | &nbsp;&nbsp;&nbsp;&nbsp;0.5 |
| Singapore | &nbsp;&nbsp;&nbsp;&nbsp;3.2 |
| South Africa | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| South Korea | &nbsp;&nbsp;&nbsp;&nbsp;9.4 |
| United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;12.1 |
| United States | &nbsp;&nbsp;&nbsp;&nbsp;17.2 |
|  | &nbsp;&nbsp;100.0 |

---

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 September 30, 2025, were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Securities<br> Loaned** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cash<br> Collateral<br> Received** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Securities<br> Collateral<br> Received** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total<br> Collateral<br> Received** |
| $904132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $936287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $936287 |

---

The following table summarizes the securities received as collateral for securities lending at September 30, 2025:

---

| | | |
|:---|:---|:---|
| **Collateral<br> Type** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Coupon<br> Range** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Maturity<br> Date Range** |
| U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.125%-6.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10/15/25-11/15/54 |

---

For additional information about significant accounting policies, including valuation of investments, refer to the Fund's most recent semi or annual report.

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** AMG Funds

- **b. Investment Company Act file number:** 811-09521

- **c. CIK number of Registrant:** 0001089951

- **d. LEI of Registrant:** 54930020IDQ6ZIPGNH13

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 680 Washington Blvd.

  - **City:** Stamford

  - **State:** CT

  - **Foreign country:** US

  - **Zip / Postal Code:** 06901

  - **Telephone number:** 800-548-4539

**Item A.2. Information about the Series.**

- **a. Name of Series:** AMG Yacktman Special Opportunities Fund

- **b. EDGAR series identifier (if any):** S000045879

- **c. LEI of Series:** 549300T072ZCUO47Z727

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $27020747.30

**Total Liabilities:** $91540.93

**Net Assets:** $26929206.37

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000142969 | -2.17%               | 4.44%                | 1.33%                |
| Class ID C000142968 | -2.17%               | 4.43%                | 1.33%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $121515.70               | $-696807.75                                |
| Month 2  | $186956.22               | $988836.37                                 |
| Month 3  | $297082.79               | $-37563.35                                 |

### Schedule of Portfolio Investments

| Name                                                    | Title                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Fila SpA                                                | Fila SpA                                                | CUSIP: 000000000<br>LEI: 81560094A389646CAF21 | Long             | EC               | CORP              | IT        |    115000 | NS      | $1260099.16   | 4.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Hargreaves Services PLC                                 | Hargreaves Services PLC                                 | CUSIP: 000000000<br>LEI: 213800O17BER1SHMH466 | Long             | EC               | CORP              | GB        |     84395 | NS      | $805870.13    | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Maezawa Industries Inc                                  | Maezawa Industries Inc                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     22000 | NS      | $284427.50    | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Noram Drilling AS                                       | Noram Drilling AS                                       | CUSIP: 000000000<br>LEI: 549300YA98I8QIPGWZ72 | Long             | EC               | CORP              | NO        |     50000 | NS      | $136278.69    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| A-Mark Precious Metals Inc                              | A-Mark Precious Metals Inc                              | CUSIP: 00181T107<br>LEI: XP6XYFDZQGKLUMOFGT37 | Long             | EC               | CORP              | US        |      9000 | NS      | $232830.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Legacy Housing Corp                                     | Legacy Housing Corp                                     | CUSIP: 52472M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60000 | NS      | $1650600.00   | 6.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrow Exploration Corp                                  | Arrow Exploration Corp                                  | CUSIP: 04274P105<br>LEI: 9845000FDF0856QD9031 | Long             | EC               | CORP              | CA        |   7000000 | NS      | $1270930.50   | 4.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Maxim Power Corp                                        | Maxim Power Corp                                        | CUSIP: 57773Y209<br>LEI: 549300JHCNCJCQET4P76 | Long             | EC               | CORP              | CA        |     50500 | NS      | $165466.70    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Amerigo Resources Ltd                                   | Amerigo Resources Ltd                                   | CUSIP: 03074G109<br>LEI: 5299000WW697YX8VQX13 | Long             | EC               | CORP              | CA        |     75000 | NS      | $146583.32    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Reading International Inc                               | Reading International Inc                               | CUSIP: 755408101<br>LEI: 549300OHQRI7MW2NQU72 | Long             | EC               | CORP              | US        |     95000 | NS      | $139650.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Boustead Singapore Ltd                                  | Boustead Singapore Ltd                                  | CUSIP: 000000000<br>LEI: 254900VRXISFIBDS7X84 | Long             | EC               | CORP              | SG        |    130000 | NS      | $165277.72    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Naked Wines PLC                                         | Naked Wines PLC                                         | CUSIP: 000000000<br>LEI: 213800IYPFIRRQQE9R62 | Long             | EC               | CORP              | GB        |    250000 | NS      | $258893.25    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| KISCO Holdings Co Ltd                                   | KISCO Holdings Co Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      6839 | NS      | $126002.74    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Brickability Group PLC                                  | Brickability Group PLC                                  | CUSIP: 000000000<br>LEI: 213800SK28MWXB3K3P26 | Long             | EC               | CORP              | GB        |   1275000 | NS      | $1005730.27   | 3.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Bixolon Co Ltd                                          | Bixolon Co Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     32000 | NS      | $130419.34    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| TEXHONG TEXTILE                                         | Texhong International Group Ltd                         | CUSIP: 000000000<br>LEI: 213800M1HN85ACHDBK34 | Long             | EC               | CORP              | HK        |   1600000 | NS      | $1007459.57   | 3.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Ion Beam Applications                                   | Ion Beam Applications                                   | CUSIP: 000000000<br>LEI: 5493002RVRZ1S3CPUI26 | Long             | EC               | CORP              | BE        |     60000 | NS      | $746937.49    | 2.77%             |  |  |  | No            |                  2 | On Loan: —       |
| Koa Shoji Holdings Co Ltd                               | Koa Shoji Holdings Co Ltd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     80000 | NS      | $441526.71    | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| America's Car-Mart Inc/TX                               | America's Car-Mart Inc/TX                               | CUSIP: 03062T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23000 | NS      | $671830.00    | 2.49%             |  |  |  | No            |                  1 | On Loan: —       |
| NeoPharm Co Ltd                                         | NeoPharm Co Ltd                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      9000 | NS      | $113423.34    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitani Corp                                             | Mitani Corp                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     15000 | NS      | $217976.20    | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Unit Corp                                               | Unit Corp                                               | CUSIP: 909218406<br>LEI: 549300XGK22FZCTN8B67 | Long             | EC               | CORP              | US        |      9000 | NS      | $269865.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Omni Bridgeway Ltd                                      | Omni Bridgeway Ltd                                      | CUSIP: 000000000<br>LEI: 529900T4EL2A89FPP865 | Long             | EC               | CORP              | AU        |   2040000 | NS      | $2294775.60   | 8.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Mi Chang Oil Industrial Co Ltd                          | Mi Chang Oil Industrial Co Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      5000 | NS      | $379530.31    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AlphaPolis Co Ltd                                       | AlphaPolis Co Ltd                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     22000 | NS      | $237000.52    | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Nihon Trim Co Ltd                                       | Nihon Trim Co Ltd                                       | CUSIP: 000000000<br>LEI: 529900MMAS9SLHU7KR51 | Long             | EC               | CORP              | JP        |      6000 | NS      | $188000.85    | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Okamoto Industries Inc                                  | Okamoto Industries Inc                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     11000 | NS      | $376873.21    | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Delfi Ltd                                               | Delfi Ltd                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SG        |   1100000 | NS      | $673669.52    | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Macfarlane Group PLC                                    | Macfarlane Group PLC                                    | CUSIP: 000000000<br>LEI: 213800LVRYDERSJAAZ73 | Long             | EC               | CORP              | GB        |    900000 | NS      | $1113709.13   | 4.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Master Drilling Group Ltd                               | Master Drilling Group Ltd                               | CUSIP: 000000000<br>LEI: 37890095B2AFC611E529 | Long             | EC               | CORP              | ZA        |    200000 | NS      | $182397.22    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Sam Yung Trading Co Ltd                                 | Sam Yung Trading Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     58000 | NS      | $624211.54    | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Horizon Oil Ltd                                         | Horizon Oil Ltd                                         | CUSIP: 000000000<br>LEI: 52990027DG9I87NLGK24 | Long             | EC               | CORP              | AU        |   5250000 | NS      | $763363.75    | 2.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Komelon Corp                                            | Komelon Corp                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     18000 | NS      | $140006.95    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Italian Wine Brands SpA                                 | Italian Wine Brands SpA                                 | CUSIP: 000000000<br>LEI: 815600251190FB2E7172 | Long             | EC               | CORP              | IT        |     61500 | NS      | $1617422.54   | 6.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Amplify Energy Corp                                     | Amplify Energy Corp                                     | CUSIP: 03212B103<br>LEI: J0TW5YQRAZXYN7VEU787 | Long             | EC               | CORP              | US        |     65000 | NS      | $341250.00    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                              | Samsung Electronics Co Ltd                              | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |     20000 | NS      | $949220.29    | 3.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie de L'Odet SE                                        | Cie de L'Odet SE                                        | CUSIP: 000000000<br>LEI: 9695005PEG4IL375U849 | Long             | EC               | CORP              | FR        |       550 | NS      | $882246.55    | 3.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Hemisphere Energy Corp                                  | Hemisphere Energy Corp                                  | CUSIP: 423630102<br>LEI: 549300CG6PCKBXM8GM11 | Long             | EC               | CORP              | CA        |    230000 | NS      | $365236.76    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Kaken Co Ltd                                         | SK Kaken Co Ltd                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      3000 | NS      | $181109.68    | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Dreyfus Institutional Preferred Government Money Market | Dreyfus Institutional Preferred Government Money Market | CUSIP: 26200X100<br>LEI: 5493001BRBYRXP4A4K56 | Long             | STIV             | RF                | US        |    531026 | NS      | $531026.37    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Pardee Resources Co                                     | Pardee Resources Co                                     | CUSIP: 699437109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       800 | NS      | $232000.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Facilities Corp                                 | Medical Facilities Corp                                 | CUSIP: 58457V503<br>LEI: 549300KHW6BB8F1NXK22 | Long             | EC               | CORP              | CA        |     85000 | NS      | $863620.03    | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Total Energy Services Inc                               | Total Energy Services Inc                               | CUSIP: 89154B102<br>LEI: 549300R3W0R3EV800D58 | Long             | EC               | CORP              | CA        |    165000 | NS      | $1707264.50   | 6.34%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co                                       | U-Haul Holding Co                                       | CUSIP: 023586506<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |     20000 | NS      | $1018000.00   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-25

**Name of Applicant:** AMG Funds

**Signature:** Thomas Disbrow

**Name of Signer:** Thomas Disbrow

**Title:** Principal Financial Officer