# EDGAR Filing Document

**Accession Number:** 0001089951
**File Stem:** 0001752724-25-212680
**Filing Date:** 2025-8
**Character Count:** 36843
**Document Hash:** 8cc945d2670164c0ee79c3f57bec263c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-212680.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001752724-25-212680

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**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:** 251278627

**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 GW&K Municipal Enhanced Yield Fund (Series ID: S000023781)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000069909 | Class I      | GWMEX           |
| C000078885 | Class N      | GWMNX           |
| C000180069 | Class Z      | GWMZX           |

## 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 GW&K Municipal Enhanced Yield Fund

- **b. EDGAR series identifier (if any):** S000023781

- **c. LEI of Series:** 5493007AA45J1A1TXE60

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $166771901.93

**Total Liabilities:** $171317.71

**Net Assets:** $166600584.22

**Cash Not Reported:** $469.45

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.21080000 | **1-Year:** 369.34497000 | **5-Year:** 7280.86340000 | **10-Year:** 149336.23363000 | **30-Year:** 18652.42244000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 887.50000000 | **10-Year:** 9476.72536000 | **30-Year:** 801.40367000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000078885 | -1.53%               | -0.73%               | 0.62%                |
| Class ID C000069909 | -1.43%               | -0.86%               | 0.79%                |
| Class ID C000180069 | -1.54%               | -0.74%               | 0.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-492120.46              | $-2866461.03                               |
| Month 2  | $-624801.05              | $-1238571.45                               |
| Month 3  | $-378475.41              | $1004901.66                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PUBLIC FIN AUTH WI REVENUE        | Public Finance Authority                                    | CUSIP: 74442PL37<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995545.20    | 0.60%             | 2061-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                    | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3499473.60   | 2.10%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OHIO ST HGR EDUCTNL FAC COMMIS    | Ohio Higher Educational Facility Commission                 | CUSIP: 67756DS80<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1714963.43   | 1.03%             | 2054-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU    | Texas Private Activity Bond Surface Transportation Corp     | CUSIP: 882667BX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1148212.91   | 0.69%             | 2058-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                    | CUSIP: 57585BBT4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1105101.60   | 0.66%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                    | CUSIP: 650116HM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1509673.05   | 0.91%             | 2054-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY GA DEV AUTH REVEN    | Fayette County Development Authority                        | CUSIP: 31222PAX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1510846.80   | 0.91%             | 2054-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL    | Rhode Island Health and Educational Building Corp           | CUSIP: 762244MH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998665.20    | 0.60%             | 2049-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP R    | Tobacco Settlement Financing Corp/RI                        | CUSIP: 888809BE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2754950.96   | 1.65%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                    | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4110990.00   | 2.47%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS    | Indiana Finance Authority                                   | CUSIP: 45471FAY7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1181693.13   | 0.71%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE        | Public Finance Authority                                    | CUSIP: 74442PK95<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1013307.23   | 0.61%             | 2050-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FAYETTE CNTY GA DEV AUTH REVEN    | Fayette County Development Authority                        | CUSIP: 31222PAW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1523554.05   | 0.91%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP HLTHCAREF    | Florida Development Finance Corp                            | CUSIP: 34061QBT3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2003962.56   | 1.20%             | 2052-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING     | Pennsylvania Economic Development Financing Authority       | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5025000 | PA      | $5026042.19   | 3.02%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU    | Louisiana Public Facilities Authority                       | CUSIP: 546399SZ0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2573215.25   | 1.54%             | 2064-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN    | Virginia Small Business Financing Authority                 | CUSIP: 928104NX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2333284.21   | 1.40%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA TN ELEC REVENUE       | City of Chattanooga TN Electric Revenue                     | CUSIP: 162393GC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6710000 | PA      | $4630471.02   | 2.78%             | 2040-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                    | CUSIP: 57585BKJ6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $954980.10    | 0.57%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VILLAGE CDD NO 15 SPL ASSMNT R    | Village Community Development District No 15                | CUSIP: 92708KAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $910142.60    | 0.55%             | 2055-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES    | New York State Dormitory Authority                          | CUSIP: 64985SBV4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $876978.00    | 0.53%             | 2050-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH ST    | California Municipal Finance Authority                      | CUSIP: 13049YBM2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $967606.86    | 0.58%             | 2048-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                    | CUSIP: 650110AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5790000 | PA      | $4610509.26   | 2.77%             | 2053-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                    | CUSIP: 650116GN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1631630.55   | 0.98%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CENTRL PLAINS ENERGY PROJ NE G    | Central Plains Energy Project                               | CUSIP: 154871CP0<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   4655000 | PA      | $4777338.99   | 2.87%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL INDL DEVA    | Hillsborough County Industrial Development Authority        | CUSIP: 43233AFD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4185000 | PA      | $3520740.48   | 2.11%             | 2050-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL CHRTR SC    | Capital Trust Authority                                     | CUSIP: 14054YAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $884845.50    | 0.53%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL     | Metropolitan Pier & Exposition Authority                    | CUSIP: 592250EY6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2043746.34   | 1.23%             | 2052-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL CHRTR SC    | Capital Trust Authority                                     | CUSIP: 14054YAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $859231.80    | 0.52%             | 2064-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                    | CUSIP: 57585BEY0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $895424.50    | 0.54%             | 2054-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN    | Virginia Small Business Financing Authority                 | CUSIP: 928104NY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2283072.99   | 1.37%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS    | Indiana Finance Authority                                   | CUSIP: 45471FAX9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $955869.80    | 0.57%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH    | West Virginia Hospital Finance Authority                    | CUSIP: 956622X25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2791509.79   | 1.68%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING    | Suffolk Regional Off-Track Betting Corp                     | CUSIP: 86480TAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022251.60   | 0.61%             | 2044-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY OH HOSP FACS REV    | County of Hamilton OH                                       | CUSIP: 4072722W2<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986114.30    | 0.59%             | 2051-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DULUTH MN ECON DEV AUTH HLTH C    | Duluth Economic Development Authority                       | CUSIP: 26444CHC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1890000 | PA      | $1887397.85   | 1.13%             | 2048-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA CNTY FL HLTH FACS AUT    | Escambia County Health Facilities Authority                 | CUSIP: 296110GF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5065000 | PA      | $4118728.34   | 2.47%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH NH REVENUE      | New Hampshire Business Finance Authority                    | CUSIP: 63607YCZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022183.20   | 0.61%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OHIO ST HGR EDUCTNL FAC COMMIS    | Ohio Higher Educational Facility Commission                 | CUSIP: 67756DS72<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1241456.75   | 0.75%             | 2049-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV    | Colorado Health Facilities Authority                        | CUSIP: 19648FZH0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003084.10   | 0.60%             | 2045-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TENN HEALTH EDL &     | Shelby County Health & Educational Facilities Board         | CUSIP: 82170LAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $922282.70    | 0.55%             | 2056-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                    | CUSIP: 57585BEX2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009760.80   | 0.61%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL     | Connecticut State Health & Educational Facilities Authority | CUSIP: 20775DPN6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $898510.10    | 0.54%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE     | County of Jefferson AL Sewer Revenue                        | CUSIP: 472682ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025102.40   | 0.62%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RICHLAND CNTY SC SCH DIST #2      | Richland County School District No 2/SC                     | CUSIP: 763682R94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7290000 | PA      | $5276394.11   | 3.17%             | 2038-03-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FL HLTH FACS AUTH     | Miami Beach Health Facilities Authority                     | CUSIP: 593211FN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4185000 | PA      | $3564860.84   | 2.14%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE       | Indiana Finance Authority                                   | CUSIP: 45506ENZ2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1453990.95   | 0.87%             | 2050-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL     | Metropolitan Pier & Exposition Authority                    | CUSIP: 592250DM3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   2835000 | PA      | $2771288.19   | 1.66%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE       | City of Houston TX Airport System Revenue                   | CUSIP: 442349HZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1870000 | PA      | $1912501.36   | 1.15%             | 2039-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N    | Tobacco Settlement Financing Corp                           | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2773280.80   | 1.66%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTH FOR COLORADO ST EN    | Public Authority for Colorado Energy                        | CUSIP: 744387AD3<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   5395000 | PA      | $6341189.13   | 3.81%             | 2038-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE       | City of Houston TX Airport System Revenue                   | CUSIP: 442349HY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028542.90   | 0.62%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                    | CUSIP: 650116FR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996567.70    | 0.60%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS    | Indiana Finance Authority                                   | CUSIP: 45471FAZ4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1213569.88   | 0.73%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FIXED INCOME CLEARING CORPORATION | FIXED INCOME CLEARING CORPORATION                           | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   1054000 | PA      | $1054000.00   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING A    | Virginia Small Business Financing Authority                 | CUSIP: 928097AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2505949.89   | 1.50%             | 2052-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN    | Virginia Small Business Financing Authority                 | CUSIP: 928104QJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2145000 | PA      | $2145283.78   | 1.29%             | 2047-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HLTH & EDUCTNL    | Rhode Island Health and Educational Building Corp           | CUSIP: 762244MJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4458445.20   | 2.68%             | 2054-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE    | South Carolina Jobs-Economic Development Authority          | CUSIP: 83704HAM9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    750000 | PA      | $757268.48    | 0.45%             | 2054-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI    | Washington State Housing Finance Commission                 | CUSIP: 93978LHF6<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022963.50   | 0.61%             | 2049-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING A    | Virginia Small Business Financing Authority                 | CUSIP: 928097AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2002570.28   | 1.20%             | 2049-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU    | Texas Private Activity Bond Surface Transportation Corp     | CUSIP: 882667AY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2055000 | PA      | $1914973.12   | 1.15%             | 2039-12-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                    | CUSIP: 57584Y4T3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2245000 | PA      | $2192191.31   | 1.32%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE       | City of Houston TX Airport System Revenue                   | CUSIP: 442349HX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1557919.05   | 0.94%             | 2037-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE    | California Municipal Finance Authority                      | CUSIP: 13048VZJ0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $815383.70    | 0.49%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU    | Louisiana Public Facilities Authority                       | CUSIP: 546399SY3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2537436.50   | 1.52%             | 2059-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N    | Tobacco Settlement Financing Corp                           | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1363215.67   | 0.82%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A    | Palm Beach County Health Facilities Authority               | CUSIP: 69650MBB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1415668.05   | 0.85%             | 2055-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H    | Montgomery County Higher Education and Health Authority     | CUSIP: 613603G60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2180000 | PA      | $2116331.36   | 1.27%             | 2052-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP N    | Tobacco Settlement Financing Corp                           | CUSIP: 888808HQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2081207.78   | 1.25%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                    | CUSIP: 57584YL64<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4340000 | PA      | $3415809.15   | 2.05%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES    | New York State Dormitory Authority                          | CUSIP: 65000BLQ9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1452024.55   | 0.87%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES    | New York State Dormitory Authority                          | CUSIP: 65000BLP1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1417488.85   | 0.85%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                    | CUSIP: 57585BJU3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $978236.00    | 0.59%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUB FIN AUTH WI TAX INCREMENT     | Public Finance Authority                                    | CUSIP: 74448EAA2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1486265.25   | 0.89%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECON DEV AUTH HOS    | Lynchburg Economic Development Authority                    | CUSIP: 55123TBS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1008485.73   | 0.61%             | 2055-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL SEAPORT REV    | County of Miami-Dade Seaport Department                     | CUSIP: 59335KFB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986833.40    | 0.59%             | 2052-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP HLTHCAREF    | Florida Development Finance Corp                            | CUSIP: 34061QBU0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1539646.27   | 0.92%             | 2052-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF WTR & P    | Los Angeles Department of Water & Power                     | CUSIP: 544532PU2<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007550.60   | 0.60%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV    | Colorado Health Facilities Authority                        | CUSIP: 19648FKS2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984859.00    | 0.59%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP    | New York Transportation Development Corp                    | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1807736.88   | 1.09%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R    | Massachusetts Development Finance Agency                    | CUSIP: 57585BJT6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1236986.50   | 0.74%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU    | Texas Private Activity Bond Surface Transportation Corp     | CUSIP: 882667AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6900000 | PA      | $6588628.53   | 3.95%             | 2058-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-28

**Name of Applicant:** AMG Funds

**Signature:** Thomas Disbrow

**Name of Signer:** Thomas Disbrow

**Title:** Principal Financial Officer