# EDGAR Filing Document

**Accession Number:** 0001089951
**File Stem:** 0000940400-26-022947
**Filing Date:** 2026-6
**Character Count:** 45813
**Document Hash:** 3d6e9630050793903a89013dde0874ab
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022947.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000940400-26-022947

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**PERIOD START**: 20261231

**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:** 261048652

**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 Fund (Series ID: S000037566)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000115981 | Class I      | YACKX           |

## Nport-Ex

AMG Yacktman Fund

Schedule of Portfolio Investments *(unaudited)*

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | Shares | &nbsp;&nbsp;Value |
| **Common Stocks - 79.5%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services - 9.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;740000 | &nbsp;&nbsp;&nbsp;&nbsp;$212276400 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31581000 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class A<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;64240000 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class B | &nbsp;&nbsp;&nbsp;3100000 | &nbsp;&nbsp;&nbsp;&nbsp;164610000 |
| &nbsp;&nbsp;&nbsp;News Corp., Class A | &nbsp;&nbsp;&nbsp;4800000 | &nbsp;&nbsp;&nbsp;&nbsp;119664000 |
| &nbsp;&nbsp;&nbsp;The Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86742000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Communication Services |  | &nbsp;&nbsp;&nbsp;&nbsp;679113400 |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary - 4.6%** |  |  |
| &nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91020000 |
| &nbsp;&nbsp;&nbsp;Hyundai Mobis Co., Ltd. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;870000 | &nbsp;&nbsp;&nbsp;&nbsp;224477626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Consumer Discretionary |  | &nbsp;&nbsp;&nbsp;&nbsp;315497626 |
| &nbsp;&nbsp;&nbsp;**Consumer Staples - 13.9%** |  |  |
| &nbsp;&nbsp;&nbsp;BellRing Brands, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1423494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22904018 |
| &nbsp;&nbsp;&nbsp;The Coca-Cola Co. | &nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;98865000 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59661000 |
| &nbsp;&nbsp;&nbsp;Darling Ingredients, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;1005000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62159250 |
| &nbsp;&nbsp;&nbsp;Ingredion, Inc.<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;101394000 |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;86200000 |
| &nbsp;&nbsp;&nbsp;KT&G Corp. (South Korea) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11828601 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;186348000 |
| &nbsp;&nbsp;&nbsp;The Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;1230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177661200 |
| &nbsp;&nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64197000 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;89698000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Consumer Staples |  | &nbsp;&nbsp;&nbsp;&nbsp;960916069 |
| &nbsp;&nbsp;&nbsp;**Energy - 18.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Bolloré SE (France) | 88500000 | &nbsp;&nbsp;&nbsp;&nbsp;506044668 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources, Ltd. (Canada) | &nbsp;&nbsp;&nbsp;8200000 | &nbsp;&nbsp;&nbsp;&nbsp;399586000 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;138600000 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;138453000 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;115656000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Energy |  | &nbsp;&nbsp;1298339668 |
| &nbsp;&nbsp;&nbsp;**Financials - 8.0%** |  |  |
| &nbsp;&nbsp;&nbsp;The Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23726000 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;105424000 |
| &nbsp;&nbsp;&nbsp;The Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;234950000 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40143150 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc. | &nbsp;&nbsp;&nbsp;1335000 | &nbsp;&nbsp;&nbsp;&nbsp;60382050 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;88592000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Financials |  | &nbsp;&nbsp;&nbsp;&nbsp;553217200 |
| &nbsp;&nbsp;&nbsp;**Health Care - 5.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Avantor, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp;35280000 |

---

---

| | | |
|:---|:---|:---|
|  | Shares | &nbsp;&nbsp;Value |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;290000 | &nbsp;&nbsp;&nbsp;$84897500 |
| &nbsp;&nbsp;&nbsp;Embecta Corp.<sup>2</sup> | 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;26520000 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;767682 | &nbsp;&nbsp;&nbsp;&nbsp;187652188 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;32470800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Health Care |  | &nbsp;&nbsp;&nbsp;366820488 |
| &nbsp;&nbsp;&nbsp;**Industrials - 9.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Armstrong World Industries, Inc. | &nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;98880000 |
| &nbsp;&nbsp;&nbsp;Brenntag SE (Germany) | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;33869130 |
| &nbsp;&nbsp;&nbsp;GrafTech International, Ltd.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4746000 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;93190500 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;84614600 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;88691200 |
| &nbsp;&nbsp;&nbsp;Samsung C&T Corp. (South Korea) | &nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;94639328 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co.<sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;14334000 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co., Non-Voting Shares | 2950000 | &nbsp;&nbsp;&nbsp;&nbsp;131776500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Industrials |  | &nbsp;&nbsp;&nbsp;&nbsp;644741258 |
| &nbsp;&nbsp;&nbsp;**Information Technology - 4.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp;116565000 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp;214698600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Information Technology |  | &nbsp;&nbsp;&nbsp;&nbsp;331263600 |
| &nbsp;&nbsp;&nbsp;**Materials - 3.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Olin Corp. | 2205000 | &nbsp;&nbsp;&nbsp;&nbsp;65554650 |
| &nbsp;&nbsp;&nbsp;Reliance, Inc. | &nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;151960000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Materials |  | &nbsp;&nbsp;&nbsp;&nbsp;217514650 |
| &nbsp;&nbsp;&nbsp;**Utilities - 1.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Talen Energy Corp.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;111730500 |
| **Total Common Stocks<br> (Cost $3,117,307,096)** |  | &nbsp;&nbsp;5479154459 |

---

---

| | | |
|:---|:---|:---|
|  | Principal<br> Amount |  |
| **Corporate Bonds and Notes - 0.0%<sup>#</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;**Industrials - 0.0%<sup>#</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;GrafTech Finance, Inc.<br> 4.625%, 12/23/29<sup>3</sup><br> (Cost $654,255) | $800000 | &nbsp;&nbsp;443427 |

---

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Preferred Stocks - 9.3%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary - 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Hyundai Motor Co., 4.14% (South Korea) | 500000 | &nbsp;&nbsp;&nbsp;&nbsp;78236912 |
| &nbsp;&nbsp;&nbsp;Hyundai Motor Co., 4.17% (South Korea) | 380000 | &nbsp;&nbsp;&nbsp;&nbsp;60158508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Consumer Discretionary |  | &nbsp;&nbsp;138395420 |

---

------

AMG Yacktman Fund

Schedule of Portfolio Investments *(continued)*

---

| | | |
|:---|:---|:---|
|  | Shares | &nbsp;&nbsp;Value |
| &nbsp;&nbsp;&nbsp;**Information Technology - 7.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd., 0.93% (South Korea) | 6200000 | &nbsp;&nbsp;$500486250 |
| **Total Preferred Stocks<br> (Cost $194,652,702)** |  | &nbsp;&nbsp;&nbsp;&nbsp;638881670 |

---

---

| | | |
|:---|:---|:---|
|  | Principal<br> Amount |  |
| **Short-Term Investments - 11.3%** |  |  |
| &nbsp;&nbsp;&nbsp;**Joint Repurchase Agreements - 0.1%<sup>4</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;Citadel Securities LLC, dated 03/31/26, due 04/01/26, 3.730% total to be received $8,898,922 (collateralized by various U.S. Treasuries, 0.000% - 5.375%, 04/15/26 - 02/15/56, totaling $9,076,901) | $8898000 | &nbsp;&nbsp;&nbsp;8898000 |
| &nbsp;&nbsp;&nbsp;National Bank Financial, Inc., dated 03/31/26, due 04/01/26, 3.710% total to be received $568,949 (collateralized by various U.S. Treasuries, 0.000% - 4.625%, 04/01/26, totaling $580,268) | &nbsp;&nbsp;&nbsp;&nbsp;568890 | &nbsp;&nbsp;&nbsp;&nbsp;568890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Joint Repurchase Agreements |  | &nbsp;&nbsp;9466890 |
| &nbsp;&nbsp;&nbsp;**U.S. Government Obligations - 3.9%** |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bills, 3.479%, 01/21/27<sup>5</sup> | &nbsp;&nbsp;71000000 | &nbsp;&nbsp;68963157 |

---

---

| | | |
|:---|:---|:---|
|  | Principal<br> Amount | &nbsp;&nbsp;Value |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bills, 3.571%, 10/01/26<sup>5</sup> | $68000000 | &nbsp;&nbsp;&nbsp;$66759057 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bills, 3.688%, 03/18/27<sup>5</sup> | &nbsp;&nbsp;&nbsp;70000000 | &nbsp;&nbsp;&nbsp;&nbsp;67593130 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bills, 4.037%, 06/11/26<sup>5</sup> | &nbsp;&nbsp;&nbsp;67000000 | &nbsp;&nbsp;&nbsp;&nbsp;66524656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total U.S. Government Obligations** |  | &nbsp;&nbsp;269840000 |
| &nbsp;&nbsp;&nbsp;**Repurchase Agreements - 3.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Fixed Income Clearing Corp., dated 03/31/26, due 04/01/26, 3.350% total to be received $251,394,391 (collateralized by a U.S. Treasury Note, 0.000% - 3.843%, 06/11/26 - 10/31/27, totaling $256,398,504) | &nbsp;&nbsp;&nbsp;251371000 | &nbsp;&nbsp;&nbsp;&nbsp;251371000 |

---

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| &nbsp;&nbsp;&nbsp;**Other Investment Companies - 3.6%** |  |  |
| &nbsp;&nbsp;&nbsp;JPMorgan U.S. Government Money Market Fund, IM Shares, 3.66%<sup>6</sup> | 250357916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250357916 |
| **Total Short-Term Investments<br> (Cost $781,109,838)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781035806 |
| **Total Investments - 100.1%<br> (Cost $4,093,723,891)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6899515362 |
| **Other Assets, less Liabilities - (0.1)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6721630) |
| **Net Assets - 100.0%** |  | &nbsp;&nbsp;**$6892793732** |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup>\*</sup> | Non-income producing security. |
| &nbsp;&nbsp;<sup>#</sup> | Less than 0.05%. |
| &nbsp;&nbsp;<sup>1</sup> | Some of these securities, amounting to $84,778,517 or 1.2% 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. |
| &nbsp;&nbsp;<sup>2</sup> | Affiliated issuer. See summary of affiliated investment transaction for details. |
| &nbsp;&nbsp;<sup>3</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 March 31, 2026, the value of this security amounted to $443,427 or less than 0.05% of net assets. |

---

<sup>4</sup> Cash collateral received for securities lending activity was invested in these joint repurchase agreements.

<sup>5</sup> Represents yield to maturity at March 31, 2026.

<sup>6</sup> Yield shown represents the March 31, 2026, seven day average yield, which refers to the sum of the previous seven days' dividends paid, expressed as an annual percentage.

#### The following schedule shows the value of affiliated investments at March 31, 2026

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated<br> Issuers** | &nbsp;&nbsp;&nbsp;&nbsp;**Number<br> of shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;&nbsp;&nbsp;**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;**Net realized<br> gain (loss) for<br> the period** | &nbsp;&nbsp;&nbsp;&nbsp;**Net increase (decrease) in<br> unrealized appreciation<br> (depreciation) for the period** | &nbsp;&nbsp;&nbsp;&nbsp;**Amount of<br> Dividends or<br> Interest** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| Embecta Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;$12092955 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;$(6362955) | &nbsp;&nbsp;&nbsp;&nbsp;$337500 | &nbsp;&nbsp;&nbsp;&nbsp;$26520000 |

---

------

AMG Yacktman 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, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &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;Energy | &nbsp;&nbsp;&nbsp;&nbsp; $792295000 | &nbsp;&nbsp;&nbsp;&nbsp; $506044668 | &nbsp;&nbsp; — | &nbsp;&nbsp; $1298339668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 949087468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11828601 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 960916069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 679113400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 679113400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 516232800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128508458 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 644741258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 553217200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 553217200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care | &nbsp;&nbsp;&nbsp;&nbsp; 366820488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 366820488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 331263600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 331263600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Discretionary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91020000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224477626 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315497626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 217514650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 217514650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111730500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111730500 |
| &nbsp;&nbsp;&nbsp;**Corporate Bonds and Notes<sup>†</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443427 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443427 |
| &nbsp;&nbsp;&nbsp;**Preferred Stocks<sup>†</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 638881670 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 638881670 |
| &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;Joint Repurchase Agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9466890 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9466890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 269840000 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 269840000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase Agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251371000 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251371000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250357916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250357916 |
| &nbsp;&nbsp;**Total Investments in Securities** | &nbsp;&nbsp;$4858653022 | &nbsp;&nbsp;$2040862340 | &nbsp;&nbsp;— | &nbsp;&nbsp;$6899515362 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;<sup>†</sup> | 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. |
| &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 March 31, 2026, there were no transfers in or out of Level 3.

The country allocation in the Schedule of Portfolio Investments at March 31, 2026, was as follows:

---

| | |
|:---|:---|
| **Country** | &nbsp;&nbsp;**% of Long-Term<br> Investments** |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp;6.5 |
| France | &nbsp;&nbsp;&nbsp;&nbsp;8.3 |
| Germany | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| South Korea | &nbsp;&nbsp;&nbsp;&nbsp;15.8 |
| United States | &nbsp;&nbsp;&nbsp;68.8 |
|  | &nbsp;&nbsp;100.0 |

---

------

AMG Yacktman 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, 2026, 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** |
| $84778517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $9466890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $77457093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $86923983 |

---

The following table summarizes the securities received as collateral for securities lending at March 31, 2026:

---

| | | |
|:---|:---|:---|
| **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;1.500%-7.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11/01/29-03/01/56 |

---

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 Fund

- **b. EDGAR series identifier (if any):** S000037566

- **c. LEI of Series:** 5493005QFA4FOX5V4S61

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $6911232163.02

**Total Liabilities:** $13962348.83

**Net Assets:** $6897269814.19

**Cash Not Reported:** $3299.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000115981 | 7.85%                | 3.72%                | -5.56%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $159033084.42            | $360818712.09                              |
| Month 2  | $184686042.08            | $74279233.98                               |
| Month 3  | $10360642.13             | $-430511484.43                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Reliance Inc                         | Reliance Inc COM                                 | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |    500000 | NS      | $151960000.00 | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Intermediate Holdings Inc.  | BellRing Intermediate Holdings Inc. COMMON STOCK | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |    972119 | NS      | $15641394.71  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Graftech Intl Ltd                    | Graftech Intl Ltd COM NEW                        | CUSIP: 384313607<br>LEI: 549300GY32W00XP57351 | Long             | EC               | CORP              | US        |    700000 | NS      | $4746000.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc.                          | Kenvue Inc. COM                                  | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |   5000000 | NS      | $86200000.00  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Bollore SE                           | Bollore SE EUR0.16                               | CUSIP: 000000000<br>LEI: 969500LEKCHH6VV86P94 | Long             | EC               | CORP              | FR        |  88500000 | NS      | $506044667.89 | 7.34%             |  |  |  | No            |                  2 | On Loan: No      |
| U-Haul Holding Co.                   | U-Haul Holding Co. COM                           | CUSIP: 023586100<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |    300000 | NS      | $14334000.00  | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| GrafTech Finance Inc.                | EAF 4.625 12/23/29 144A                          | CUSIP: 384311AC0<br>LEI: 1Z010BU876CF2HDBIN43 | Long             | DBT              | CORP              | US        |    800000 | PA      | $443427.04    | 0.01%             | 2029-12-23      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Cognizant Technology Solutions Corp. | Cognizant Technology Solutions Corp. CL A        | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |   1900000 | NS      | $116565000.00 | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                        | Alphabet Inc. CAP STK CL C                       | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    740000 | NS      | $212276400.00 | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Inc.                 | Paypal Holdings Inc. COM                         | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |   1335000 | NS      | $60382050.00  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Company                  | Walt Disney Company COM                          | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    900000 | NS      | $86742000.00  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp.                   | State Street Corp. COM                           | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |    700000 | NS      | $88592000.00  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| FIXED INCOME CLEARING CORPORATION    | FICC                                             | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        | 251371000 | PA      | $251371000.00 | 3.64%             |  |  |  | No            |                  2 | On Loan: No      |
| The Procter & Gamble Co.             | The Procter & Gamble Co. COM                     | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |   1230000 | NS      | $177661200.00 | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods, Inc.                    | Tyson Foods, Inc. CL A                           | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |   1400000 | NS      | $89698000.00  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.              | UnitedHealth Group Inc. COM                      | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    120000 | NS      | $32470800.00  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Olin Corporation                     | Olin Corporation COM PAR $1                      | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |   2205000 | NS      | $65554650.00  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corp.    | The Bank of New York Mellon Corp. COM            | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |    200000 | NS      | $23726000.00  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL BANK FINANCIAL INC.         | NATIONAL BANK FINANCIAL INC                      | CUSIP: 000000000<br>LEI: 549300D83GR71RNG0O65 | Long             | RA               | CORP              | US        |    568890 | PA      | $568890.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Ingredion Incorporated               | Ingredion Incorporated COM                       | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |    900000 | NS      | $101394000.00 | 1.47%             |  |  |  | No            |                  1 | On Loan: —       |
| News Corporation                     | News Corporation CL A                            | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |   4800000 | NS      | $119664000.00 | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Brenntag SE                          | Brenntag SE NPV                                  | CUSIP: 000000000<br>LEI: NNROIXVWJ7CPSR27SV97 | Long             | EC               | CORP              | DE        |    500000 | NS      | $33869129.92  | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| eBay Inc.                            | eBay Inc. COM                                    | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |   1000000 | NS      | $91020000.00  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc               | Diamondback Energy Inc COM                       | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |    700000 | NS      | $138453000.00 | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills         | B 0 01/21/27                                     | CUSIP: 912797TM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  71000000 | PA      | $68963156.97  | 1.00%             | 2027-01-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co (The)                   | Coca-Cola Co (The) COM                           | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |   1300000 | NS      | $98865000.00  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc.                   | EOG Resources Inc. COM                           | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |    800000 | NS      | $115656000.00 | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Trust Ii                   | JP Morgan Trust Ii US GVT MMKT IM                | CUSIP: 4812C2270<br>LEI: 549300IMXLYKELY96B40 | Long             | STIV             | RF                | US        | 249531000 | NS      | $249531000.04 | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co.                | Colgate-Palmolive Co. COM                        | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |    700000 | NS      | $59661000.00  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corporation                    | Sysco Corporation COM                            | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |    900000 | NS      | $64197000.00  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc.                 | Elevance Health Inc. COM                         | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |    290000 | NS      | $84897500.00  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co.                   | U-Haul Holding Co. COM SER N                     | CUSIP: 023586506<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |   2950000 | NS      | $131776500.00 | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Limited   | Canadian Natural Resources Limited COM           | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |   8200000 | NS      | $399586000.00 | 5.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd.          | Samsung Electronics Co Ltd. N/VTG PFD KRW100     | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |   6200000 | NS      | $500486249.81 | 7.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Darling Ingredients, Inc             | Darling Ingredients, Inc COM                     | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |   1005000 | NS      | $62159250.00  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corporation          | Lockheed Martin Corporation COM                  | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |    140000 | NS      | $84614600.00  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| TALEN ENERGY CORP                    | Talen Energy Corporation COM                     | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    350000 | NS      | $111730500.00 | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                          | Pepsico Inc COM                                  | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |   1200000 | NS      | $186348000.00 | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc.              | Berkshire Hathaway Inc. CL B NEW                 | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |    220000 | NS      | $105424000.00 | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Motor Co.                    | Hyundai Motor Co. PFD N/VTG KRW5000              | CUSIP: 000000000<br>LEI: 9884004RQX8PRBXQ8S60 | Long             | EP               | CORP              | KR        |    500000 | NS      | $78236912.19  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Bills         | B 0 10/01/26                                     | CUSIP: 912797SA6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  68000000 | PA      | $66759056.44  | 0.97%             | 2026-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips                       | ConocoPhillips COM                               | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |   1050000 | NS      | $138600000.00 | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc.        | FactSet Research Systems Inc. COM                | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |    185000 | NS      | $40143150.00  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                      | Microsoft Corp. COM                              | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    580000 | NS      | $214698600.00 | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KT&G Corp.                           | KT&G Corp. KRW5000                               | CUSIP: 000000000<br>LEI: 988400ZJV6ISYBLQX875 | Long             | EC               | CORP              | KR        |    110000 | NS      | $11828600.54  | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| L3 Harris Technologies Inc           | L3 Harris Technologies Inc COM                   | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |    270000 | NS      | $93190500.00  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corporation         | Northrop Grumman Corporation COM                 | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |    130000 | NS      | $88691200.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation       | The Charles Schwab Corporation COM               | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |   2500000 | NS      | $234950000.00 | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Embecta Corp.                        | Embecta Corp. COMMON STOCK                       | CUSIP: 29082K105<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | EC               | CORP              | US        |   3000000 | NS      | $26520000.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                  | Comcast Corporation CL A                         | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |   1100000 | NS      | $31581000.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Armstrong World Industries, Inc.     | Armstrong World Industries, Inc. COM             | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |    600000 | NS      | $98880000.00  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                          | Avantor Inc COM                                  | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4500000 | NS      | $35280000.00  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills         | B 0 06/11/26                                     | CUSIP: 912797QX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  67000000 | PA      | $66524656.44  | 0.96%             | 2026-06-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hyundai Mobis Co Ltd.                | Hyundai Mobis Co Ltd. KRW5000                    | CUSIP: 000000000<br>LEI: 988400HJA9E0ZVDHRS65 | Long             | EC               | CORP              | KR        |    870000 | NS      | $224477626.64 | 3.25%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Bills         | B 0 03/18/27                                     | CUSIP: 912797UD7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  70000000 | PA      | $67593129.80  | 0.98%             | 2027-03-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Samsung C&T Corporation              | Samsung C&T Corporation KRW100                   | CUSIP: 000000000<br>LEI: 988400GFRE4IDFPE9E64 | Long             | EC               | CORP              | KR        |    540000 | NS      | $94639328.04  | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Fox Corporation                      | Fox Corporation CL B COM                         | CUSIP: 35137L204<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |   3100000 | NS      | $164610000.00 | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Motor Co.                    | Hyundai Motor Co. 2ND PRF KRW5000                | CUSIP: 000000000<br>LEI: 9884004RQX8PRBXQ8S60 | Long             | EP               | CORP              | KR        |    380000 | NS      | $60158508.01  | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Fox Corporation                      | Fox Corporation CL A COM                         | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |   1100000 | NS      | $64240000.00  | 0.93%             |  |  |  | No            |                  1 | On Loan: —       |
| CITADEL SECURITIES LLC               | CITADEL SECURITIES LLC                           | CUSIP: 000000000<br>LEI: 12UUJYTN7D3SW8KCSG25 | Long             | RA               | CORP              | US        |   8898000 | PA      | $8898000.00   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Johnson & Johnson                    | Johnson & Johnson COM                            | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    767682 | NS      | $187652188.08 | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

**Name of Applicant:** AMG Funds

**Signature:** Thomas Disbrow

**Name of Signer:** Thomas Disbrow

**Title:** Principal Financial Officer