# EDGAR Filing Document

**Accession Number:** 0000882443
**File Stem:** 0001752724-23-042967
**Filing Date:** 2023-2
**Character Count:** 32683
**Document Hash:** 92b34a4378412bf53f7b934bf9070a31
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-042967.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-042967

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMG Funds I
- **CENTRAL INDEX KEY:** 0000882443
- **IRS NUMBER:** 561773580
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06520
- **FILM NUMBER:** 23673869

**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 TRUST I
- **DATE OF NAME CHANGE:** 20000801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BREEDEN TRUST
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### AMG Veritas Global Real Return Fund (Series ID: S000041918)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000130200 | Class I      | BLUEX           |

## Nport-Ex

AMG Veritas Global Real Return Fund

Schedule of Portfolio Investments *(unaudited)*

December 31, 2022

---

| | | |
|:---|:---|:---|
|  | Shares | &nbsp;&nbsp;Value |
| **Common Stocks - 96.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services - 12.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A (United States)<sup>\*</sup> | &nbsp;&nbsp;73944 | &nbsp;&nbsp;&nbsp;$6524079 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Inc., Class A (United States)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;14478 | &nbsp;&nbsp;&nbsp;&nbsp;4909152 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A (United States)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;17954 | &nbsp;&nbsp;&nbsp;&nbsp;2160584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Communication Services |  | &nbsp;&nbsp;&nbsp;13593815 |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary - 3.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc. (United States)<sup>\*</sup> | &nbsp;&nbsp;48377 | &nbsp;&nbsp;&nbsp;&nbsp;4063668 |
| &nbsp;&nbsp;&nbsp;**Consumer Staples - 4.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Unilever PLC (United Kingdom) | &nbsp;&nbsp;89679 | &nbsp;&nbsp;&nbsp;&nbsp;4499805 |
| &nbsp;&nbsp;&nbsp;**Financials - 5.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. (United States) | &nbsp;&nbsp;26608 | &nbsp;&nbsp;&nbsp;&nbsp;2729715 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. (United States) | &nbsp;&nbsp;&nbsp;9675 | &nbsp;&nbsp;&nbsp;&nbsp;2695648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Financials |  | &nbsp;&nbsp;&nbsp;&nbsp;5425363 |
| &nbsp;&nbsp;&nbsp;**Health Care - 26.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Becton Dickinson and Co. (United States) | &nbsp;&nbsp;&nbsp;14270 | &nbsp;&nbsp;&nbsp;&nbsp;3628861 |
| &nbsp;&nbsp;&nbsp;Bio-Rad Laboratories, Inc., Class A (United States)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;8039 | &nbsp;&nbsp;&nbsp;&nbsp;3380319 |
| &nbsp;&nbsp;&nbsp;Catalent, Inc. (United States)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;77522 | &nbsp;&nbsp;&nbsp;&nbsp;3489265 |
| &nbsp;&nbsp;&nbsp;The Cooper Cos, Inc. (United States) | &nbsp;&nbsp;&nbsp;12204 | &nbsp;&nbsp;&nbsp;&nbsp;4035497 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. (United States) | &nbsp;&nbsp;34666 | &nbsp;&nbsp;&nbsp;&nbsp;3230525 |
| &nbsp;&nbsp;&nbsp;Illumina, Inc. (United States)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;11199 | &nbsp;&nbsp;&nbsp;&nbsp;2264438 |
| &nbsp;&nbsp;&nbsp;Sonic Healthcare, Ltd. (Australia) | &nbsp;&nbsp;&nbsp;91915 | &nbsp;&nbsp;&nbsp;&nbsp;1870564 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. (United States) | &nbsp;&nbsp;&nbsp;5644 | &nbsp;&nbsp;&nbsp;&nbsp;3108094 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. (United States) | &nbsp;&nbsp;&nbsp;4858 | &nbsp;&nbsp;&nbsp;&nbsp;2575614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Health Care |  | &nbsp;&nbsp;&nbsp;27583177 |
| &nbsp;&nbsp;&nbsp;**Industrials - 25.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Aena SME SA (Spain)<sup>\*,1</sup> | &nbsp;&nbsp;30839 | &nbsp;&nbsp;&nbsp;&nbsp;3865929 |
| &nbsp;&nbsp;&nbsp;Airbus SE (France) | &nbsp;&nbsp;33295 | &nbsp;&nbsp;&nbsp;&nbsp;3958859 |
| &nbsp;&nbsp;&nbsp;BAE Systems PLC (United Kingdom) | 293881 | &nbsp;&nbsp;&nbsp;&nbsp;3035322 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway, Ltd. (Canada)<sup>2</sup> | &nbsp;&nbsp;&nbsp;75341 | &nbsp;&nbsp;&nbsp;&nbsp;5619685 |
| &nbsp;&nbsp;&nbsp;Safran SA (France) | &nbsp;&nbsp;43691 | &nbsp;&nbsp;&nbsp;&nbsp;5472472 |
| &nbsp;&nbsp;&nbsp;Vinci, S.A. (France) | &nbsp;&nbsp;&nbsp;54216 | &nbsp;&nbsp;&nbsp;&nbsp;5404631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Industrials |  | &nbsp;&nbsp;27356898 |
| &nbsp;&nbsp;&nbsp;**Information Technology - 16.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc. (United States)<sup>\*</sup> | &nbsp;&nbsp;45810 | &nbsp;&nbsp;&nbsp;&nbsp;4630017 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A (United States) | &nbsp;&nbsp;&nbsp;16811 | &nbsp;&nbsp;&nbsp;&nbsp;5845689 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. (United States) | &nbsp;&nbsp;26945 | &nbsp;&nbsp;&nbsp;&nbsp;6461950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Information Technology |  | &nbsp;&nbsp;&nbsp;16937656 |
| &nbsp;&nbsp;&nbsp;**Materials - 2.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Franco-Nevada Corp. (Canada) | &nbsp;&nbsp;&nbsp;19701 | &nbsp;&nbsp;&nbsp;&nbsp;2688793 |
| **Total Common Stocks<br> (Cost $118,676,699)** |  | &nbsp;&nbsp;&nbsp;102149175 |

---

---

| | | |
|:---|:---|:---|
|  | Principal<br> Amount | &nbsp;&nbsp;Value |
| **Short-Term Investments - 6.1%** |  |  |
| &nbsp;&nbsp;&nbsp;**Joint Repurchase Agreements - 5.4%<sup>3</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;Bank of America Securities, Inc., dated 12/30/22, due 01/03/23, 4.300% total to be received $1,361,812 (collateralized by various U.S. Government Agency Obligations, 1.500% - 6.500%, 05/01/37 - 05/01/58, totaling $1,388,385) | $1361162 | &nbsp;&nbsp;$1361162 |
| &nbsp;&nbsp;&nbsp;Citigroup Global Markets, Inc., dated 12/30/22, due 01/03/23, 4.250% total to be received $286,406 (collateralized by various U.S. Treasuries, 0.000% - 4.500%, 04/11/23 - 10/31/29, totaling $291,996) | &nbsp;&nbsp;&nbsp;&nbsp;286271 | &nbsp;&nbsp;&nbsp;&nbsp;286271 |
| &nbsp;&nbsp;&nbsp;MUFG Securities America, Inc., dated 12/30/22, due 01/03/23, 4.300% total to be received $1,361,812 (collateralized by various U.S. Government Agency Obligations, 2.000% - 5.500%, 08/01/24 - 01/01/53, totaling $1,388,385) | &nbsp;&nbsp;&nbsp;1361162 | &nbsp;&nbsp;&nbsp;&nbsp;1361162 |
| &nbsp;&nbsp;&nbsp;National Bank Financial, dated 12/30/22, due 01/03/23, 4.340% total to be received $1,361,818 (collateralized by various U.S. Treasuries, 0.000% - 4.435%, 01/03/23 - 09/09/49, totaling $1,388,385) | &nbsp;&nbsp;&nbsp;1361162 | &nbsp;&nbsp;&nbsp;&nbsp;1361162 |
| &nbsp;&nbsp;&nbsp;RBC Dominion Securities, Inc., dated 12/30/22, due 01/03/23, 4.300% total to be received $1,361,812 (collateralized by various U.S. Government Agency Obligations, 2.000% - 6.000%, 09/01/24 - 10/20/52, totaling $1,388,385) | &nbsp;&nbsp;&nbsp;1361162 | &nbsp;&nbsp;&nbsp;&nbsp;1361162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Joint Repurchase Agreements |  | &nbsp;&nbsp;5730919 |

---

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| &nbsp;&nbsp;&nbsp;**Other Investment Companies - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Dreyfus Government Cash Management Fund, Institutional Shares, 4.19%<sup>4</sup> | 301478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301478 |
| &nbsp;&nbsp;&nbsp;Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 4.27%<sup>4</sup> | 452217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Other Investment Companies |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753695 |
| **Total Short-Term Investments<br> (Cost $6,484,614)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6484614 |
| **Total Investments - 102.7%<br> (Cost $125,161,313)** |  | &nbsp;&nbsp;&nbsp;&nbsp; 108633789 |
| **Derivatives - 1.7%<sup>5</sup>** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1778158 |
| **Other Assets, less Liabilities - (4.4)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4637439) |
| **Net Assets - 100.0%** |  | &nbsp;&nbsp;**$105774508** |

---

------

AMG Veritas Global Real Return Fund

Schedule of Portfolio Investments *(continued)*

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

<sup>1</sup> 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 December 31, 2022, the value of this security amounted to $3,865,929 or 3.7% of net assets.

<sup>2</sup> Some of this security, amounting to $5,553,076 or 5.3% of net assets, was out on loan to various borrowers and is collateralized by cash. See below for more information.

<sup>3</sup> Cash collateral received for securities lending activity was invested in these joint repurchase agreements.

<sup>4</sup> Yield shown represents the December 31, 2022, seven day average yield, which refers to the sum of the previous seven days' dividends paid, expressed as an annual percentage.

<sup>5</sup> Includes Futures Contracts. Please refer to the Futures Contracts table for the details.

#### Open Futures Contracts

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Current<br> Notional<br> Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Value and<br> Unrealized<br> Gain/(Loss)** |
| EURO STOXX 50 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;03/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;$(18840188) | &nbsp;&nbsp;&nbsp;&nbsp;$891661 |
| S&P 500 E-Mini Index | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;03/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;(20849400) | &nbsp;&nbsp;&nbsp;&nbsp;886497 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;$1778158 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**CURRENCY ABBREVIATIONS:** | &nbsp;&nbsp;**CURRENCY ABBREVIATIONS:** |
| &nbsp;&nbsp;EUR | Euro Dollar |
| &nbsp;&nbsp;USD | U.S. Dollar |

---

The following table summarizes the inputs used to value the Fund's investments by the fair value hierarchy levels as of December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &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;Health Care | &nbsp;&nbsp;&nbsp; $25712613 | &nbsp;&nbsp;&nbsp;&nbsp; $1870564 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; $27583177 |
| &nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp; 5619685 | &nbsp;&nbsp;&nbsp;&nbsp; 21737213 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27356898 |
| &nbsp;&nbsp;&nbsp;&nbsp;Information Technology | &nbsp;&nbsp;&nbsp;&nbsp; 16937656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16937656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Communication Services | &nbsp;&nbsp;&nbsp;&nbsp; 13593815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13593815 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp; 5425363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5425363 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer Staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4499805 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4499805 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer Discretionary | &nbsp;&nbsp;&nbsp;&nbsp; 4063668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4063668 |
| &nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp; 2688793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2688793 |
| &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;Joint Repurchase Agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5730919 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5730919 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753695 |
| &nbsp;&nbsp;**Total Investments in Securities** | &nbsp;&nbsp;$74795288 | &nbsp;&nbsp;$33838501 | &nbsp;&nbsp;— | &nbsp;&nbsp;$108633789 |
| &nbsp;&nbsp;&nbsp;**Financial Derivative Instruments - Assets** | &nbsp;&nbsp;&nbsp;**Financial Derivative Instruments - Assets** | &nbsp;&nbsp;&nbsp;**Financial Derivative Instruments - Assets** | &nbsp;&nbsp;&nbsp;**Financial Derivative Instruments - Assets** | &nbsp;&nbsp;&nbsp;**Financial Derivative Instruments - Assets** |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; $1778158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1778158 |
| &nbsp;&nbsp;**Total Financial Derivative Instruments** | &nbsp;&nbsp;&nbsp;&nbsp;$1778158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1778158 |

---

<br> <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 December 31, 2022, there were no transfers in or out of Level 3.

------

AMG Veritas Global Real Return Fund

Schedule of Portfolio Investments *(continued)*

The country allocation in the Schedule of Portfolio Investments at December 31, 2022, was as follows:

---

| | |
|:---|:---|
| **Country** | &nbsp;&nbsp;**% of Long-Term<br> Investments** |
| Australia | &nbsp;&nbsp;&nbsp;&nbsp;1.8 |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp;8.1 |
| France | &nbsp;&nbsp;&nbsp;&nbsp;14.5 |
| Spain | &nbsp;&nbsp;&nbsp;&nbsp;3.8 |
| United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;7.4 |
| United States | &nbsp;&nbsp;&nbsp;64.4 |
|  | &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 December 31, 2022, 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** |
| $5553076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5730919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5730919 |

---

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 I

- **b. Investment Company Act file number:** 811-06520

- **c. CIK number of Registrant:** 0000882443

- **d. LEI of Registrant:** 549300SY4O1O812XWI71

- **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 Veritas Global Real Return Fund

- **b. EDGAR series identifier (if any):** S000041918

- **c. LEI of Series:** 549300RRNGSPWNCIAG56

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-30

**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:** $111716231.33

**Total Liabilities:** $5897462.27

**Net Assets:** $105818769.06

**Cash Not Reported:** $2608860.21

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000130200 | 1.64%                | 3.89%                | -2.38%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1080180.97             | $6218862.58                                |
| Month 2  | $-1382272.09             | $8670182.97                                |
| Month 3  | $797328.69               | $-5661793.10                               |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Treasury Inflation-Linked Bond Index

- **Index Identifier:** LBUTTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NATIONAL BANK FINANCIAL INC.                                 | NATIONAL BANK FINANCIAL                                      | CUSIP: 000000000<br>LEI: 549300D83GR71RNG0O65 | Long             | RA               | CORP              | US        |   1361162 | PA      | $1361162.00   | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Airbus SE                                                    | Airbus SE                                                    | CUSIP: 000000000<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | FR        |     33295 | NS      | $3958858.84   | 3.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Dreyfus Institutional Preferred Government Money Market Fund | Dreyfus Institutional Preferred Government Money Market Fund | CUSIP: 26200X100<br>LEI: 549300RBWL04JG8SIX57 | Long             | STIV             | RF                | US        |    452217 | NS      | $452216.97    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Aena SME SA                                                  | Aena SME SA                                                  | CUSIP: 000000000<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |     30839 | NS      | $3865928.88   | 3.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management                           | Dreyfus Government Cash Management                           | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |    301478 | NS      | $301478.03    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                                    | Safran SA                                                    | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     43691 | NS      | $5472472.42   | 5.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                                                 | Unilever PLC                                                 | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |     89679 | NS      | $4499805.05   | 4.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Communications Inc                                   | Charter Communications Inc                                   | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |     14477 | NS      | $4909150.70   | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonic Healthcare Ltd                                         | Sonic Healthcare Ltd                                         | CUSIP: 000000000<br>LEI: 549300NQQ5L2NONWR862 | Long             | EC               | CORP              | AU        |     91915 | NS      | $1870564.30   | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Mastercard Inc                                               | Mastercard Inc                                               | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     16811 | NS      | $5845689.03   | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The                                           | Cooper Cos Inc/The                                           | CUSIP: 216648402<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |     12204 | NS      | $4035496.68   | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalent Inc                                                 | Catalent Inc                                                 | CUSIP: 148806102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77522 | NS      | $3489265.22   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories Inc                                     | Bio-Rad Laboratories Inc                                     | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |      8039 | NS      | $3380319.11   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                               | Amazon.com Inc                                               | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     48377 | NS      | $4063668.00   | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                                       | UnitedHealth Group Inc                                       | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      4858 | NS      | $2575614.44   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                                | CITIGROUP GLOBAL MARKETS INC                                 | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | Long             | RA               | CORP              | US        |    286271 | PA      | $286271.00    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan US Government Money Market Fund                     | JPMorgan US Government Money Market Fund                     | CUSIP: 4812C2270<br>LEI: 549300NQ5E5B7ZV4T516 | Long             | STIV             | RF                | US        |         1 | NS      | $0.99         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MUFG SECURITIES AMERICAS INC.                                | MUFG SECURITIES AMERICA INC                                  | CUSIP: 000000000<br>LEI: K5HU16E3LMSVCCJJJ255 | Long             | RA               | CORP              | US        |   1361162 | PA      | $1361162.00   | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES, INC.                                        | BOFA SECURITIES INC                                          | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Long             | RA               | CORP              | US        |   1361162 | PA      | $1361162.00   | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Fiserv Inc                                                   | Fiserv Inc                                                   | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     45810 | NS      | $4630016.70   | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                                 | Alphabet Inc                                                 | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     73944 | NS      | $6524079.12   | 6.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                                | Intercontinental Exchange Inc                                | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     26608 | NS      | $2729714.72   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco-Nevada Corp                                           | Franco-Nevada Corp                                           | CUSIP: 351858105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     19701 | NS      | $2688792.48   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                             | CME E-Mini Standard & Poor's 500 Index                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |      -108 | NC      | $886497.30    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Railway Ltd                                 | Canadian Pacific Railway Ltd                                 | CUSIP: 13645T100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     75341 | NS      | $5619685.19   | 5.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Thermo Fisher Scientific Inc                                 | Thermo Fisher Scientific Inc                                 | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      5644 | NS      | $3108094.36   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                                                     | Vinci SA                                                     | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |     54216 | NS      | $5404631.07   | 5.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                                           | Meta Platforms Inc                                           | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     17954 | NS      | $2160584.36   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson and Co                                      | Becton Dickinson and Co                                      | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     14270 | NS      | $3628861.00   | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                              | CVS Health Corp                                              | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     34666 | NS      | $3230524.54   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                                                 | Moody's Corp                                                 | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |      9675 | NS      | $2695648.50   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.                                 | RBC DOMINION SECURITIES INC                                  | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | Long             | RA               | CORP              | US        |   1361162 | PA      | $1361162.00   | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Illumina Inc                                                 | Illumina Inc                                                 | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |     11199 | NS      | $2264437.80   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                            | EUREX EURO STOXX 50                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               | CORP              | DE        |      -465 | NC      | $891661.14    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                                              | BAE Systems PLC                                              | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |    293881 | NS      | $3035321.46   | 2.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp                                               | Microsoft Corp                                               | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     26945 | NS      | $6461949.90   | 6.11%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-27

**Name of Applicant:** AMG Funds I

**Signature:** Thomas Disbrow

**Name of Signer:** Thomas Disbrow

**Title:** Principal Financial Officer