# EDGAR Filing Document

**Accession Number:** 0001089951
**File Stem:** 0000940400-26-022965
**Filing Date:** 2026-6
**Character Count:** 54701
**Document Hash:** dcf823ab485343258989cb47165cfec2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022965.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000940400-26-022965

**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:** 261048685

**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           |

## Nport-Ex

AMG GW&K Municipal Enhanced Yield Fund

Schedule of Portfolio Investments *(unaudited)*

March 31, 2026

---

| | | |
|:---|:---|:---|
|  | Principal<br> Amount | &nbsp;&nbsp;Value |
| **Municipal Bonds - 99.1%** |  |  |
| &nbsp;&nbsp;&nbsp;**Alabama - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;County of Jefferson Sewer Revenue<br> 5.500%, 10/01/53 | $1000000 | &nbsp;&nbsp;$1039766 |
| &nbsp;&nbsp;&nbsp;**California - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;California Municipal Finance Authority, Series A<br> 4.000%, 02/01/51 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;840409 |
| &nbsp;&nbsp;&nbsp;**Colorado - 4.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Colorado Health Facilities Authority, Series A<br> 5.125%, 12/01/45 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1019497 |
| &nbsp;&nbsp;&nbsp;Public Authority for Colorado Energy Natural Gas Purchase Revenue<br> 6.500%, 11/15/38 | &nbsp;&nbsp;5395000 | &nbsp;&nbsp;&nbsp;&nbsp;6381106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Colorado |  | &nbsp;&nbsp;&nbsp;7400603 |
| &nbsp;&nbsp;&nbsp;**Florida - 13.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Capital Trust Authority, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/54<sup>1</sup> | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;908987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/64<sup>1</sup> | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;885697 |
| &nbsp;&nbsp;&nbsp;Escambia County Health Facilities Authority<br> 4.000%, 08/15/50 | &nbsp;&nbsp;5065000 | &nbsp;&nbsp;&nbsp;&nbsp;4207627 |
| &nbsp;&nbsp;&nbsp;Florida Development Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/01/52 | &nbsp;&nbsp;&nbsp;2515000 | &nbsp;&nbsp;&nbsp;&nbsp;1989292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/01/52 | &nbsp;&nbsp;&nbsp;1675000 | &nbsp;&nbsp;&nbsp;&nbsp;1549426 |
| &nbsp;&nbsp;&nbsp;Hillsborough County Industrial Development Authority<br> 4.000%, 08/01/50 | &nbsp;&nbsp;&nbsp;4185000 | &nbsp;&nbsp;&nbsp;&nbsp;3533120 |
| &nbsp;&nbsp;&nbsp;Miami Beach Health Facilities Authority<br> 4.000%, 11/15/46 | &nbsp;&nbsp;&nbsp;4185000 | &nbsp;&nbsp;&nbsp;&nbsp;3707166 |
| &nbsp;&nbsp;&nbsp;Palm Beach County Health Facilities Authority, Series B<br> 5.000%, 11/15/55 | &nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;1705931 |
| &nbsp;&nbsp;&nbsp;Village Community Development District No 15<br> 4.800%, 05/01/55<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;995000 | &nbsp;&nbsp;&nbsp;&nbsp;925606 |
| &nbsp;&nbsp;&nbsp;Village Community Development District No 16<br> 5.125%, 05/01/56 | &nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;1690684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Florida |  | &nbsp;&nbsp;21103536 |
| &nbsp;&nbsp;&nbsp;**Georgia - 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Fayette County Development Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 10/01/49 | &nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1521286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 10/01/54 | &nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1505384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Georgia |  | &nbsp;&nbsp;&nbsp;3026670 |
| &nbsp;&nbsp;&nbsp;**Illinois - 4.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Chicago Transit Authority Sales Tax Receipts Fund, Series A<br> 5.500%, 12/01/56 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1047049 |
| &nbsp;&nbsp;&nbsp;Metropolitan Pier & Exposition Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/15/52 | &nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1260158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/50 | &nbsp;&nbsp;&nbsp;1835000 | &nbsp;&nbsp;&nbsp;&nbsp;1826122 |

---

---

| | | |
|:---|:---|:---|
|  | Principal<br> Amount | &nbsp;&nbsp;Value |
| &nbsp;&nbsp;&nbsp;State of Illinois, Series C<br> 5.500%, 04/01/51<sup>2</sup> | $2300000 | &nbsp;&nbsp;$2393005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Illinois |  | &nbsp;&nbsp;&nbsp;6526334 |
| &nbsp;&nbsp;&nbsp;**Indiana - 3.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Indiana Finance Authority, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/54 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/59 | &nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;1193130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 03/01/50 | &nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1508036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/64 | &nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;1231292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Indiana |  | &nbsp;&nbsp;&nbsp;4897596 |
| &nbsp;&nbsp;&nbsp;**Massachusetts - 8.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Massachusetts Development Finance Agency, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/51 | &nbsp;&nbsp;&nbsp;4340000 | &nbsp;&nbsp;&nbsp;&nbsp;3517503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/50 | &nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;1255746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/52 | &nbsp;&nbsp;&nbsp;3270000 | &nbsp;&nbsp;&nbsp;&nbsp;3144068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/55 | &nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;1201416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/01/55 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998157 |
| &nbsp;&nbsp;&nbsp;Massachusetts Development Finance Agency, Series 1<br> 5.250%, 07/01/50 | &nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;1253782 |
| &nbsp;&nbsp;&nbsp;Massachusetts Development Finance Agency, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/54<sup>1</sup> | &nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;1139100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 10/01/49 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1069394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Massachusetts |  | &nbsp;&nbsp;&nbsp;13579166 |
| &nbsp;&nbsp;&nbsp;**Nebraska - 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Central Plains Energy Project #3, Series A<br> 5.000%, 09/01/42 | &nbsp;&nbsp;&nbsp;4205000 | &nbsp;&nbsp;&nbsp;&nbsp;4248670 |
| &nbsp;&nbsp;&nbsp;**New Hampshire - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;New Hampshire Business Finance Authority, Series A<br> 5.500%, 06/01/55 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1023613 |
| &nbsp;&nbsp;&nbsp;**New Jersey - 3.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp., Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/46 | &nbsp;&nbsp;&nbsp;2095000 | &nbsp;&nbsp;&nbsp;&nbsp;2037533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/01/46 | &nbsp;&nbsp;&nbsp;2755000 | &nbsp;&nbsp;&nbsp;&nbsp;2742579 |
| &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp., Series B<br> 5.000%, 06/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;1415000 | &nbsp;&nbsp;&nbsp;&nbsp;1354078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total New Jersey |  | &nbsp;&nbsp;&nbsp;&nbsp;6134190 |
| &nbsp;&nbsp;&nbsp;**New York - 15.0%** |  |  |
| &nbsp;&nbsp;&nbsp;New York State Dormitory Authority, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/47 | &nbsp;&nbsp;&nbsp;1675000 | &nbsp;&nbsp;&nbsp;&nbsp;1459101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;1775000 | &nbsp;&nbsp;&nbsp;&nbsp;1466523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 07/01/50 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895727 |
| &nbsp;&nbsp;&nbsp;New York Transportation Development Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/30/53 | &nbsp;&nbsp;&nbsp;5790000 | &nbsp;&nbsp;&nbsp;&nbsp;4917854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 06/30/54 | &nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1511607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 04/01/40 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;4203106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 04/01/35 | &nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1644750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 06/30/54 | &nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;1812744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 06/30/59 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1048044 |

---

------

AMG GW&K Municipal Enhanced Yield Fund

Schedule of Portfolio Investments *(continued)*

---

| | | |
|:---|:---|:---|
|  | Principal<br> Amount | &nbsp;&nbsp;Value |
| &nbsp;&nbsp;&nbsp;**New York - 15.0% (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;New York Transportation Development Corp.,<br> Series A<br> 5.500%, 12/31/60 | $3500000 | &nbsp;&nbsp;&nbsp;$3518340 |
| &nbsp;&nbsp;&nbsp;Suffolk Regional Off-Track Betting Co.<br> 5.750%, 12/01/44 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total New York |  | &nbsp;&nbsp;23499509 |
| &nbsp;&nbsp;&nbsp;**Ohio - 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;County of Hamilton, Series A<br> 5.500%, 08/01/51 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1007858 |
| &nbsp;&nbsp;&nbsp;Ohio Higher Educational Facility Commission, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 05/01/49 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 05/01/54 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Ohio |  | &nbsp;&nbsp;&nbsp;&nbsp;2922594 |
| &nbsp;&nbsp;&nbsp;**Pennsylvania - 3.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Pennsylvania Economic Development Financing Authority<br> 5.250%, 06/30/53 | &nbsp;&nbsp;&nbsp;5175000 | &nbsp;&nbsp;&nbsp;&nbsp;5163736 |
| &nbsp;&nbsp;&nbsp;**Rhode Island - 6.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Rhode Island Health and Educational Building Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 05/15/49 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 05/15/54 | &nbsp;&nbsp;&nbsp;4250000 | &nbsp;&nbsp;&nbsp;&nbsp;4166017 |
| &nbsp;&nbsp;&nbsp;Rhode Island Health and Educational Building Corp., Series A, (AG) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/55 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/60 | &nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;1666864 |
| &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp., Series A<br> 5.000%, 06/01/40 | &nbsp;&nbsp;&nbsp;2755000 | &nbsp;&nbsp;&nbsp;&nbsp;2755176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Rhode Island |  | &nbsp;&nbsp;&nbsp;10552047 |
| &nbsp;&nbsp;&nbsp;**South Carolina - 3.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Richland County School District No 2, Series A, (South Carolina School District)<br> 1.875%, 03/01/38 | &nbsp;&nbsp;&nbsp;5790000 | &nbsp;&nbsp;&nbsp;&nbsp;4371691 |
| &nbsp;&nbsp;&nbsp;South Carolina Jobs-Economic Development Authority<br> 5.750%, 11/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total South Carolina |  | &nbsp;&nbsp;&nbsp;&nbsp;5123312 |
| &nbsp;&nbsp;&nbsp;**Tennessee - 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;City of Chattanooga Electric<br> 2.000%, 09/01/40 | &nbsp;&nbsp;&nbsp;2710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1977751 |
| &nbsp;&nbsp;&nbsp;Shelby County Health & Educational Facilities Board, Series A1<br> 5.250%, 06/01/56<sup>1</sup> | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Tennessee |  | &nbsp;&nbsp;&nbsp;&nbsp;2932244 |
| &nbsp;&nbsp;&nbsp;**Texas - 8.2%** |  |  |
| &nbsp;&nbsp;&nbsp;City of Houston Airport System Revenue, Series B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/15/37 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1046779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/15/38 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1041796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/15/39 | &nbsp;&nbsp;&nbsp;1870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1937173 |

---

---

| | | |
|:---|:---|:---|
|  | Principal<br> Amount | &nbsp;&nbsp;Value |
| &nbsp;&nbsp;&nbsp;City of Houston TX Hotel Occupancy Tax & Special Revenue, Series C<br> 5.500%, 09/01/58<sup>2</sup> | $1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1052746 |
| &nbsp;&nbsp;&nbsp;Texas Private Activity Bond Surface Transportation Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/30/58 | &nbsp;&nbsp;6900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6680992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 12/31/58 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Texas |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12776248 |
| &nbsp;&nbsp;&nbsp;**Virginia - 5.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Lynchburg Economic Development Authority<br> 4.000%, 01/01/55 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831127 |
| &nbsp;&nbsp;&nbsp;Virginia Small Business Financing Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/40 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/31/47 | &nbsp;&nbsp;&nbsp;1645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/31/49 | &nbsp;&nbsp;2095000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/31/52 | &nbsp;&nbsp;2655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2533757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Virginia |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7957490 |
| &nbsp;&nbsp;&nbsp;**Washington - 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Washington State Housing Finance Commission<br> 5.500%, 07/01/49 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984100 |
| &nbsp;&nbsp;&nbsp;**West Virginia - 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;West Virginia Hospital Finance Authority,<br> Series B<br> 6.000%, 09/01/53 | &nbsp;&nbsp;2625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2773859 |
| &nbsp;&nbsp;&nbsp;**Wisconsin - 6.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Public Finance Authority, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 11/15/50 | &nbsp;&nbsp;&nbsp;1005000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 11/15/61 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 06/30/60 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 12/31/65 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4081921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/31/65 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091036 |
| &nbsp;&nbsp;&nbsp;Public Finance Authority, Series A<br> 5.000%, 06/01/41<sup>1</sup> | &nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2251849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Wisconsin |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10472287 |
| **Total Municipal Bonds<br> (Cost $165,962,252)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154977979 |
| **Short-Term Investments - 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;**Repurchase Agreements - 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Fixed Income Clearing Corp., dated 03/31/26, due 04/01/26, 3.350% total to be received $2,884,268 (collateralized by a U.S. Treasury Note, 1.375%, 11/15/31, totaling $2,941,712) | &nbsp;&nbsp;2884000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2884000 |
| **Total Short-Term Investments<br> (Cost $2,884,000)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2884000 |
| **Total Investments - 101.0%<br> (Cost $168,846,252)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157861979 |
| **Other Assets, less Liabilities - (1.0)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1523412) |
| **Net Assets - 100.0%** |  | &nbsp;&nbsp;**$156338567** |

---

------

AMG GW&K Municipal Enhanced Yield Fund

Schedule of Portfolio Investments *(continued)*

<sup>1</sup> Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2026, the value of these securities amounted to $7,065,731 or 4.5% of net assets.

<sup>2</sup> All or part of a security is delayed delivery transaction. The market value for delayed delivery securities at March 31, 2026, amounted to $3,445,751, or 2.2% of net assets.

AG Assured Guaranty

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** | &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;**Municipal Bonds<sup>†</sup>** | &nbsp;&nbsp; — | &nbsp;&nbsp; $154977979 | &nbsp;&nbsp; — | &nbsp;&nbsp; $154977979 |
| &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;Repurchase Agreements | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2884000 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2884000 |
| &nbsp;&nbsp;**Total Investments in Securities** | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$157861979 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;$157861979 |

---

<br> <sup>†</sup> All municipal bonds held in the Fund are Level 2 securities. For a detailed breakout of municipal bonds by major classification, please refer to the Fund's Schedule of Portfolio Investments.

For the period ended March 31, 2026, there were no transfers in or out of Level 3.

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 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:** 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:** $160431116.38

**Total Liabilities:** $3862728.09

**Net Assets:** $156568388.29

**Delayed Delivery Securities:** $3732637.00

**Cash Not Reported:** $371.30

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 371.87510000 | **5-Year:** 10891.65340000 | **10-Year:** 129521.43602000 | **30-Year:** 9876.84813000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 1487.13022000 | **10-Year:** 7930.26387000 | **30-Year:** 417.37782000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000078885 | 0.29%                | 1.91%                | -2.77%               |
| Class ID C000069909 | 0.32%                | 1.90%                | -2.72%               |
| Class ID C000180069 | 0.21%                | 1.90%                | -2.72%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-32095.60                                 |
| Month 2  | $0.00                    | $2588564.87                                |
| Month 3  | $-136731.29              | $-4837637.50                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HAMILTON CNTY OHIO                                             | OH HAMMED 5.5 08/01/2051  | CUSIP: 4072722W2<br>LEI: 549300TO1E3N4E4YIO28 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007858.30   | 0.64%             | 2051-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                    | TX HOUAPT 5.5 07/15/2038  | CUSIP: 442349HY5<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1041795.70   | 0.67%             | 2038-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORP (NY)                  | NY NYTTRN 6 06/30/2059    | CUSIP: 650116JQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1048044.00   | 0.67%             | 2059-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HEALTH & EDL BLDG CORP                         | RI RISMED 5 07/01/2060    | CUSIP: 762244PA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1666864.33   | 1.06%             | 2060-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUDOUN COUNTY ECONOMIC DEVELOPMENT AUTHORITY (VA)             | VA LNCMED 4 01/01/2055    | CUSIP: 55123TBS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $831126.50    | 0.53%             | 2055-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEXAS PRIVATE ACTIVITY BD SURFACE TRANSPORTATION CORP          | TX TXSTRN 5.5 12/31/2058  | CUSIP: 882667BX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016762.00   | 0.65%             | 2058-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORP (NY)                  | NY NYTTRN 5.62 04/01/2040 | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4203105.60   | 2.68%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORP (NY)                  | NY NYTTRN 6 04/01/2035    | CUSIP: 650116GN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1644750.00   | 1.05%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                    | IL ILS 5.5 04/01/2051     | CUSIP: 452153RJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2393005.10   | 1.53%             | 2051-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH                                               | IN INDHSG 5 07/01/2059    | CUSIP: 45471FAY7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1193130.00   | 0.76%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                          | NY NYSHGR 4 07/01/2047    | CUSIP: 65000BLP1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1459101.21   | 0.93%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                            | WI PUBTRN 5.75 06/30/2060 | CUSIP: 74448UAB4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031466.20   | 0.66%             | 2060-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RICHLAND (SC), COUNTY OF                                       | SC RICSCD 1.88 03/01/2038 | CUSIP: 763682R94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5790000 | PA      | $4371690.86   | 2.79%             | 2038-03-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                   | MA MASDEV 5.25 07/01/2052 | CUSIP: 57584Y4T3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3270000 | PA      | $3144067.72   | 2.01%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SHELBY COUNTY HEALTH EDUCATIONAL & HOUSING FACILITY BOARD (TN) | TN SHEHSG 5.25 06/01/2056 | CUSIP: 82170LAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $954493.20    | 0.61%             | 2056-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                            | WI PUBGEN 5.25 11/15/2061 | CUSIP: 74442PL37<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000538.60   | 0.64%             | 2061-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FAYETTE COUNTY DEVELOPMENT AUTHORITY (GA)                      | GA FAYDEV 5.25 10/01/2054 | CUSIP: 31222PAX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1505383.80   | 0.96%             | 2054-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORP (NY)                  | NY NYTTRN 5.5 06/30/2054  | CUSIP: 650116HM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1511606.85   | 0.97%             | 2054-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JEFFERSON (AL), COUNTY OF                                      | AL JEFUTL 5.5 10/01/2053  | CUSIP: 472682ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039766.50   | 0.66%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| A.B. WON PAT INTERNATIONAL AIRPORT AUTHORITY                   | NY NYTTRN 4 04/30/2053    | CUSIP: 650110AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5790000 | PA      | $4917854.04   | 3.14%             | 2053-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FIXED INCOME CLEARING CORPORATION                              | FICC                      | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   2884000 | PA      | $2884000.00   | 1.84%             |  |  |  | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMN                                    | WA WASHSG 5.5 07/01/2049  | CUSIP: 93978LHF6<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984099.60    | 0.63%             | 2049-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CENTRAL PLAINS ENERGY PROJ NEB                                 | NE CENPWR 5 09/01/2042    | CUSIP: 154871CP0<br>LEI: SVQOT7V5CPLIGNP5BE29 | Long             | DBT              | MUN               | US        |   4205000 | PA      | $4248669.77   | 2.71%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FINANCING CORP (VA)                         | NJ TOBGEN 5 06/01/2046    | CUSIP: 888808HQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2037533.52   | 1.30%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                            | WI PUBGEN 5.25 11/15/2050 | CUSIP: 74442PK95<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1015476.52   | 0.65%             | 2050-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VILLAGE CMNTY DEV DIST NO 15 FLA                               | FL VGEDEV 4.8 05/01/2055  | CUSIP: 92708KAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $925606.41    | 0.59%             | 2055-05-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| OHIO ST HIGHER EDL FAC COMMN                                   | OH OHSEDU 5.25 05/01/2054 | CUSIP: 67756DS80<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $945537.70    | 0.60%             | 2054-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FINANCING AUTHORITY (VA)               | VA VASDEV 4 01/01/2040    | CUSIP: 928104NY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $944143.40    | 0.60%             | 2040-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TR AUTH FLA                                            | FL CTSEDU 5 06/01/2064    | CUSIP: 14054YAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $885697.00    | 0.57%             | 2064-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                            | WI PUBTRN 6.5 12/31/2065  | CUSIP: 74448UAC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1091035.80   | 0.70%             | 2065-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WEST VIRGINIA ST HOSP FIN AUTH                                 | WV WVSMED 6 09/01/2053    | CUSIP: 956622X25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2773858.76   | 1.77%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                   | MA MASDEV 6 10/01/2049    | CUSIP: 57585BTF5<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069394.10   | 0.68%             | 2049-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HIGHER EDL FAC COMMN                                   | OH OHSEDU 5.25 05/01/2049 | CUSIP: 67756DS72<br>LEI: 5493007MQT6NGNN6BR81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969198.10    | 0.62%             | 2049-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (FL)      | FL HILMED 4 08/01/2050    | CUSIP: 43233AFD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4185000 | PA      | $3533119.71   | 2.26%             | 2050-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHATTANOOGA (TN)                                               | TN CHAPWR 2 09/01/2040    | CUSIP: 162393GC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2710000 | PA      | $1977750.41   | 1.26%             | 2040-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL FIN AUTH N H                                          | NH NFADEV 5.5 06/01/2055  | CUSIP: 63607YCZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023613.20   | 0.65%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VILLAGE CMNTY DEV DIST NO 16 FLA                               | FL VILGEN 5.12 05/01/2056 | CUSIP: 92708MAE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1690683.58   | 1.08%             | 2056-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                      | CO COSMED 5.12 12/01/2045 | CUSIP: 19648FZH0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019497.60   | 0.65%             | 2045-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FINANCING AUTHORITY (VA)               | VA VASDEV 5 12/31/2047    | CUSIP: 928104QJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1636490.25   | 1.05%             | 2047-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                            | WI PUBTRN 5.75 12/31/2065 | CUSIP: 74448UAD0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4081920.80   | 2.61%             | 2065-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                    | TX HOUAPT 5.5 07/15/2037  | CUSIP: 442349HX7<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1046779.20   | 0.67%             | 2037-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                   | MA MASDEV 5.25 07/01/2050 | CUSIP: 57585BEX2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1253782.13   | 0.80%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP                                           | FL FLSMED 4 02/01/2052    | CUSIP: 34061QBT3<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   2515000 | PA      | $1989291.81   | 1.27%             | 2052-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TR AUTH FLA                                            | FL CTSEDU 5 06/01/2054    | CUSIP: 14054YAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $908986.50    | 0.58%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FLA HEALTH FACS AUTH                           | FL PALMED 5 11/15/2055    | CUSIP: 69650MBB4<br>LEI: 5493005IKINFPLJXVI11 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1705931.15   | 1.09%             | 2055-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL                        | IL MPNFAC 5 06/15/2050    | CUSIP: 592250DM3<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1826121.72   | 1.17%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                    | TX HOUAPT 5.5 07/15/2039  | CUSIP: 442349HZ2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | MUN               | US        |   1870000 | PA      | $1937172.46   | 1.24%             | 2039-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FINANCING CORP (VA)                         | NJ TOBGEN 5.25 06/01/2046 | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2742578.81   | 1.75%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL TRAN AUTH                                          | IL CHITRN 5.5 12/01/2056  | CUSIP: 16772PFC5<br>LEI: 549300CB8XLRGIPN3E12 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047049.40   | 0.67%             | 2056-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FLA HEALTH FACS AUTH                               | FL MMBMED 4 11/15/2046    | CUSIP: 593211FN0<br>LEI: 549300MFT7I1HF5VL403 | Long             | DBT              | MUN               | US        |   4185000 | PA      | $3707165.91   | 2.37%             | 2046-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP (RI)         | RI RISMED 5.25 05/15/2049 | CUSIP: 762244MH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001102.50   | 0.64%             | 2049-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH                                               | IN INDHSG 5.25 07/01/2064 | CUSIP: 45471FAZ4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1231292.25   | 0.79%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FINANCING CORP (RI)                         | RI TOBGEN 5 06/01/2040    | CUSIP: 888809BE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2755176.32   | 1.76%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                   | MA MASDEV 5 07/01/2054    | CUSIP: 57585BBT4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1139099.40   | 0.73%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WIS                                            | WI PUBGEN 5 06/01/2041    | CUSIP: 74448EAA2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2251849.28   | 1.44%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ESCAMBIA COUNTY HEALTH FACILITIES AUTHORITY (FL)               | FL ESCMED 4 08/15/2050    | CUSIP: 296110GF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5065000 | PA      | $4207627.19   | 2.69%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAYETTE COUNTY DEVELOPMENT AUTHORITY (GA)                      | GA FAYDEV 5.25 10/01/2049 | CUSIP: 31222PAW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1521286.35   | 0.97%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH                                               | IN INDHSG 5 07/01/2054    | CUSIP: 45471FAX9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $965137.60    | 0.62%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                   | MA MASDEV 5.25 07/01/2055 | CUSIP: 57585BJU3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998157.20    | 0.64%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                          | NY NYSHGR 4.25 07/01/2050 | CUSIP: 64985SBV4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $895726.80    | 0.57%             | 2050-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING CORP N Y                        | NY SOBGEN 5.75 12/01/2044 | CUSIP: 86480TAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021713.10   | 0.65%             | 2044-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FINANCING CORP (VA)                         | NJ TOBGEN 5 06/01/2046    | CUSIP: 888808HT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1354077.60   | 0.86%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC AUTH FOR COLO ENERGY NAT GAS PUR                        | CO PUBUTL 6.5 11/15/2038  | CUSIP: 744387AD3<br>LEI: 549300C6IJKXQOMRAB11 | Long             | DBT              | MUN               | US        |   5395000 | PA      | $6381105.65   | 4.08%             | 2038-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TEXAS PRIVATE ACTIVITY BD SURFACE TRANSPORTATION CORP          | TX TXSTRN 5 06/30/2058    | CUSIP: 882667AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6900000 | PA      | $6680991.93   | 4.27%             | 2058-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FINANCING AUTHORITY (VA)               | VA VASDEV 5 12/31/2052    | CUSIP: 928097AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2655000 | PA      | $2533756.77   | 1.62%             | 2052-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORP (NY)                  | NY NYTTRN 5.5 12/31/2060  | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3518340.35   | 2.25%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                   | MA MASDEV 5.25 07/01/2055 | CUSIP: 57585BKJ6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1201416.13   | 0.77%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORP (NY)                  | NY NYTTRN 6 06/30/2054    | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1812743.63   | 1.16%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH                                            | IN INSFIN 5.25 03/01/2050 | CUSIP: 45506ENZ2<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508036.10   | 0.96%             | 2050-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH                                          | NY NYSHGR 4 07/01/2052    | CUSIP: 65000BLQ9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1466523.11   | 0.94%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH                          | SC SCSMED 5.75 11/15/2054 | CUSIP: 83704HAM9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    750000 | PA      | $751621.58    | 0.48%             | 2054-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND ST HEALTH & EDL BLDG CORP                         | RI RISMED 5 07/01/2055    | CUSIP: 762244NZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $962887.20    | 0.61%             | 2055-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP (RI)         | RI RISMED 5.25 05/15/2054 | CUSIP: 762244MJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4166017.03   | 2.66%             | 2054-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FINANCING AUTHORITY (VA)               | VA VASDEV 5 12/31/2049    | CUSIP: 928097AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2011972.64   | 1.29%             | 2049-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP                                           | FL FLSMED 5 02/01/2052    | CUSIP: 34061QBU0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1675000 | PA      | $1549426.26   | 0.99%             | 2052-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN PIER & EXPOSITION AUTH ILL                        | IL MPNFAC 4 06/15/2052    | CUSIP: 592250EY6<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1260158.10   | 0.80%             | 2052-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                        | CA CASFIN 4 02/01/2051    | CUSIP: 13048VZJ0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $840409.00    | 0.54%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY (PA)     | PA PASDEV 5.25 06/30/2053 | CUSIP: 70868YAW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5175000 | PA      | $5163736.10   | 3.30%             | 2053-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                    | TX HOUFAC 5.5 09/01/2058  | CUSIP: 44237NMW9<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1052746.30   | 0.67%             | 2058-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                   | MA MASDEV 5.25 07/01/2050 | CUSIP: 57585BJT6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1255746.25   | 0.80%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                   | MA MASDEV 4 07/01/2051    | CUSIP: 57584YL64<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4340000 | PA      | $3517503.16   | 2.25%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | 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