# EDGAR Filing Document

**Accession Number:** 0001089951
**File Stem:** 0000940400-25-011522
**Filing Date:** 2025-11
**Character Count:** 54350
**Document Hash:** 56039437d103f48867721737dfa6fcfe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-011522.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000940400-25-011522

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09521
- **FILM NUMBER:** 251534542

**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 SMALL/MID CAP CORE FUND (Series ID: S000049941)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000157694 | CLASS I      | GWGIX           |
| C000157696 | CLASS N      | GWGVX           |
| C000180072 | Class Z      | GWGZX           |

## Nport-Ex

AMG GW&K Small/Mid Cap Core Fund

Schedule of Portfolio Investments *(unaudited)*

September 30, 2025

---

| | | |
|:---|:---|:---|
|  | Shares | &nbsp;&nbsp;Value |
| **Common Stocks - 99.4%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary - 14.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Bright Horizons Family Solutions, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;81034 | &nbsp;&nbsp;&nbsp;&nbsp;$8797862 |
| &nbsp;&nbsp;&nbsp;Burlington Stores, Inc.<sup>\*</sup> | &nbsp;&nbsp;36544 | &nbsp;&nbsp;&nbsp;&nbsp;9300448 |
| &nbsp;&nbsp;&nbsp;Cavco Industries, Inc.<sup>\*</sup> | &nbsp;&nbsp;25500 | &nbsp;&nbsp;&nbsp;&nbsp;14808615 |
| &nbsp;&nbsp;&nbsp;Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp;71482 | &nbsp;&nbsp;&nbsp;&nbsp;6934469 |
| &nbsp;&nbsp;&nbsp;Dorman Products, Inc.<sup>\*</sup> | &nbsp;&nbsp;86404 | &nbsp;&nbsp;&nbsp;&nbsp;13468656 |
| &nbsp;&nbsp;&nbsp;Gentherm, Inc.<sup>\*</sup> | &nbsp;&nbsp;146272 | &nbsp;&nbsp;&nbsp;&nbsp;4982024 |
| &nbsp;&nbsp;&nbsp;Grand Canyon Education, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;38779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8512766 |
| &nbsp;&nbsp;&nbsp;Group 1 Automotive, Inc. | &nbsp;&nbsp;24498 | &nbsp;&nbsp;&nbsp;&nbsp;10718120 |
| &nbsp;&nbsp;&nbsp;Levi Strauss & Co., Class A | &nbsp;&nbsp;276247 | &nbsp;&nbsp;&nbsp;&nbsp;6436555 |
| &nbsp;&nbsp;&nbsp;Pool Corp.<sup>1</sup> | &nbsp;&nbsp;&nbsp;20133 | &nbsp;&nbsp;&nbsp;&nbsp;6242639 |
| &nbsp;&nbsp;&nbsp;Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp;71253 | &nbsp;&nbsp;&nbsp;&nbsp;11838686 |
| &nbsp;&nbsp;&nbsp;Tri Pointe Homes, Inc.<sup>\*</sup> | &nbsp;&nbsp;182562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6201631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Consumer Discretionary |  | &nbsp;&nbsp;&nbsp;108242471 |
| &nbsp;&nbsp;&nbsp;**Consumer Staples - 4.4%** |  |  |
| &nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings, Inc.<sup>\*</sup> | &nbsp;&nbsp;133819 | &nbsp;&nbsp;&nbsp;&nbsp;12478622 |
| &nbsp;&nbsp;&nbsp;Freshpet, Inc.<sup>\*,1</sup> | &nbsp;&nbsp;39240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2162517 |
| &nbsp;&nbsp;&nbsp;The Marzetti Company | &nbsp;&nbsp;&nbsp;40746 | &nbsp;&nbsp;&nbsp;&nbsp;7040501 |
| &nbsp;&nbsp;&nbsp;Performance Food Group Co.<sup>\*</sup> | &nbsp;&nbsp;104702 | &nbsp;&nbsp;&nbsp;&nbsp;10893196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Consumer Staples |  | &nbsp;&nbsp;&nbsp;32574836 |
| &nbsp;&nbsp;&nbsp;**Energy - 3.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Antero Resources Corp.<sup>\*</sup> | &nbsp;&nbsp;173225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5813431 |
| &nbsp;&nbsp;&nbsp;Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;251126 | &nbsp;&nbsp;&nbsp;&nbsp;5994378 |
| &nbsp;&nbsp;&nbsp;Matador Resources Co. | &nbsp;&nbsp;&nbsp;105111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4722637 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. | &nbsp;&nbsp;127784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5159918 |
| &nbsp;&nbsp;&nbsp;Permian Resources Corp. | 357040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4570112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Energy |  | &nbsp;&nbsp;&nbsp;26260476 |
| &nbsp;&nbsp;&nbsp;**Financials - 14.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Assurant, Inc. | &nbsp;&nbsp;&nbsp;44470 | &nbsp;&nbsp;&nbsp;&nbsp;9632202 |
| &nbsp;&nbsp;&nbsp;Atlantic Union Bankshares Corp. | 257808 | &nbsp;&nbsp;&nbsp;&nbsp;9098044 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;65027 | &nbsp;&nbsp;&nbsp;&nbsp;8243473 |
| &nbsp;&nbsp;&nbsp;Glacier Bancorp, Inc.<sup>1</sup> | &nbsp;&nbsp;&nbsp;119613 | &nbsp;&nbsp;&nbsp;&nbsp;5821565 |
| &nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;22365 | &nbsp;&nbsp;&nbsp;&nbsp;9510940 |
| &nbsp;&nbsp;&nbsp;Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;&nbsp;57589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5401272 |
| &nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;48163 | &nbsp;&nbsp;&nbsp;&nbsp;16712079 |
| &nbsp;&nbsp;&nbsp;Stifel Financial Corp. | &nbsp;&nbsp;89869 | &nbsp;&nbsp;&nbsp;&nbsp;10197436 |
| &nbsp;&nbsp;&nbsp;UMB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;71261 | &nbsp;&nbsp;&nbsp;&nbsp;8433739 |
| &nbsp;&nbsp;&nbsp;Voya Financial, Inc. | &nbsp;&nbsp;&nbsp;157711 | &nbsp;&nbsp;&nbsp;&nbsp;11796783 |
| &nbsp;&nbsp;&nbsp;Wintrust Financial Corp. | &nbsp;&nbsp;80059 | &nbsp;&nbsp;&nbsp;&nbsp;10603014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Financials |  | &nbsp;&nbsp;105450547 |
| &nbsp;&nbsp;&nbsp;**Health Care - 13.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Azenta, Inc.<sup>\*</sup> | &nbsp;&nbsp;88042 | &nbsp;&nbsp;&nbsp;&nbsp;2528566 |

---

---

| | | |
|:---|:---|:---|
|  | Shares | &nbsp;&nbsp;Value |
| &nbsp;&nbsp;&nbsp;Bio-Rad Laboratories, Inc., Class A<sup>\*</sup> | &nbsp;&nbsp;&nbsp;26944 | &nbsp;&nbsp;&nbsp;$7554828 |
| &nbsp;&nbsp;&nbsp;Globus Medical, Inc., Class A<sup>\*</sup> | &nbsp;&nbsp;166428 | &nbsp;&nbsp;&nbsp;&nbsp;9531332 |
| &nbsp;&nbsp;&nbsp;Halozyme Therapeutics, Inc.<sup>\*</sup> | &nbsp;&nbsp;107724 | &nbsp;&nbsp;&nbsp;&nbsp;7900478 |
| &nbsp;&nbsp;&nbsp;Hologic, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;119721 | &nbsp;&nbsp;&nbsp;&nbsp;8079970 |
| &nbsp;&nbsp;&nbsp;Insmed, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;71235 | &nbsp;&nbsp;&nbsp;&nbsp;10258553 |
| &nbsp;&nbsp;&nbsp;Integer Holdings Corp.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;61424 | &nbsp;&nbsp;&nbsp;&nbsp;6346942 |
| &nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals PLC (Ireland)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;73735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9718273 |
| &nbsp;&nbsp;&nbsp;Medpace Holdings, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp;8637888 |
| &nbsp;&nbsp;&nbsp;Natera, Inc.<sup>\*</sup> | &nbsp;&nbsp;55869 | &nbsp;&nbsp;&nbsp;&nbsp;8993233 |
| &nbsp;&nbsp;&nbsp;Neurocrine Biosciences, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;81929 | &nbsp;&nbsp;&nbsp;&nbsp;11501193 |
| &nbsp;&nbsp;&nbsp;Tandem Diabetes Care, Inc.<sup>\*</sup> | &nbsp;&nbsp;298501 | &nbsp;&nbsp;&nbsp;&nbsp;3623802 |
| &nbsp;&nbsp;&nbsp;Vericel Corp.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;143911 | &nbsp;&nbsp;&nbsp;&nbsp;4528879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Health Care |  | &nbsp;&nbsp;&nbsp;99203937 |
| &nbsp;&nbsp;&nbsp;**Industrials - 23.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Allegion PLC (Ireland) | &nbsp;&nbsp;&nbsp;37293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6613914 |
| &nbsp;&nbsp;&nbsp;API Group Corp.<sup>\*</sup> | 430924 | &nbsp;&nbsp;&nbsp;&nbsp;14810858 |
| &nbsp;&nbsp;&nbsp;Applied Industrial Technologies, Inc. | &nbsp;&nbsp;25064 | &nbsp;&nbsp;&nbsp;&nbsp;6542957 |
| &nbsp;&nbsp;&nbsp;Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;23708 | &nbsp;&nbsp;&nbsp;&nbsp;19563367 |
| &nbsp;&nbsp;&nbsp;Exponent, Inc. | &nbsp;&nbsp;&nbsp;53298 | &nbsp;&nbsp;&nbsp;&nbsp;3703145 |
| &nbsp;&nbsp;&nbsp;Federal Signal Corp. | &nbsp;&nbsp;&nbsp;95315 | &nbsp;&nbsp;&nbsp;&nbsp;11341532 |
| &nbsp;&nbsp;&nbsp;Gates Industrial Corp. PLC<sup>\*</sup> | 540567 | &nbsp;&nbsp;&nbsp;&nbsp;13416873 |
| &nbsp;&nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp;&nbsp;70123 | &nbsp;&nbsp;&nbsp;&nbsp;12535187 |
| &nbsp;&nbsp;&nbsp;Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;&nbsp;34579 | &nbsp;&nbsp;&nbsp;&nbsp;8154766 |
| &nbsp;&nbsp;&nbsp;Moog, Inc., Class A | &nbsp;&nbsp;&nbsp;37327 | &nbsp;&nbsp;&nbsp;&nbsp;7751698 |
| &nbsp;&nbsp;&nbsp;Nordson Corp. | &nbsp;&nbsp;50309 | &nbsp;&nbsp;&nbsp;&nbsp;11417628 |
| &nbsp;&nbsp;&nbsp;Paylocity Holding Corp.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;47719 | &nbsp;&nbsp;&nbsp;&nbsp;7600205 |
| &nbsp;&nbsp;&nbsp;Powell Industries, Inc.<sup>1</sup> | &nbsp;&nbsp;&nbsp;34331 | &nbsp;&nbsp;&nbsp;&nbsp;10464432 |
| &nbsp;&nbsp;&nbsp;RBC Bearings, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;33784 | &nbsp;&nbsp;&nbsp;&nbsp;13185557 |
| &nbsp;&nbsp;&nbsp;Schneider National, Inc., Class B | 199099 | &nbsp;&nbsp;&nbsp;&nbsp;4212935 |
| &nbsp;&nbsp;&nbsp;Simpson Manufacturing Co., Inc. | &nbsp;&nbsp;&nbsp;37481 | &nbsp;&nbsp;&nbsp;&nbsp;6276568 |
| &nbsp;&nbsp;&nbsp;SiteOne Landscape Supply, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;65027 | &nbsp;&nbsp;&nbsp;&nbsp;8375478 |
| &nbsp;&nbsp;&nbsp;SPX Technologies, Inc.<sup>\*</sup> | &nbsp;&nbsp;36886 | &nbsp;&nbsp;&nbsp;&nbsp;6889567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Industrials |  | &nbsp;&nbsp;172856667 |
| &nbsp;&nbsp;&nbsp;**Information Technology - 14.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Advanced Energy Industries, Inc.<sup>1</sup> | &nbsp;&nbsp;&nbsp;66109 | &nbsp;&nbsp;&nbsp;&nbsp;11247785 |
| &nbsp;&nbsp;&nbsp;CCC Intelligent Solutions Holdings, Inc.<sup>\*,1</sup> | 901036 | &nbsp;&nbsp;&nbsp;&nbsp;8208438 |
| &nbsp;&nbsp;&nbsp;Cognex Corp. | &nbsp;&nbsp;207795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9413114 |
| &nbsp;&nbsp;&nbsp;Credo Technology Group Holding, Ltd.<sup>\*</sup> | &nbsp;&nbsp;30956 | &nbsp;&nbsp;&nbsp;&nbsp;4507503 |
| &nbsp;&nbsp;&nbsp;CyberArk Software, Ltd. (Israel)<sup>\*</sup> | &nbsp;&nbsp;&nbsp;10202 | &nbsp;&nbsp;&nbsp;&nbsp;4929096 |
| &nbsp;&nbsp;&nbsp;Entegris, Inc.<sup>1</sup> | &nbsp;&nbsp;&nbsp;99617 | &nbsp;&nbsp;&nbsp;&nbsp;9210588 |
| &nbsp;&nbsp;&nbsp;Jabil, Inc. | &nbsp;&nbsp;&nbsp;47306 | &nbsp;&nbsp;&nbsp;&nbsp;10273444 |
| &nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;91468 | &nbsp;&nbsp;&nbsp;&nbsp;11386851 |
| &nbsp;&nbsp;&nbsp;Manhattan Associates, Inc.<sup>\*</sup> | &nbsp;&nbsp;&nbsp;26278 | &nbsp;&nbsp;&nbsp;&nbsp;5386464 |

---

------

AMG GW&K Small/Mid Cap Core Fund

Schedule of Portfolio Investments *(continued)*

---

| | | |
|:---|:---|:---|
|  | Shares | &nbsp;&nbsp;Value |
| &nbsp;&nbsp;&nbsp;**Information Technology - 14.4%<br> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Procore Technologies, Inc.<sup>\*</sup> | &nbsp;&nbsp;134015 | &nbsp;&nbsp;&nbsp;&nbsp;$9772374 |
| &nbsp;&nbsp;&nbsp;SailPoint, Inc.<sup>\*,1</sup> | 468056 | &nbsp;&nbsp;&nbsp;&nbsp;10334677 |
| &nbsp;&nbsp;&nbsp;ServiceTitan, Inc., Class A<sup>\*</sup> | &nbsp;&nbsp;&nbsp;42274 | &nbsp;&nbsp;&nbsp;&nbsp;4262487 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies Corp., Class A<sup>\*</sup> | &nbsp;&nbsp;&nbsp;24655 | &nbsp;&nbsp;&nbsp;&nbsp;7326480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Information Technology |  | &nbsp;&nbsp;&nbsp;106259301 |
| &nbsp;&nbsp;&nbsp;**Materials - 5.5%** |  |  |
| &nbsp;&nbsp;&nbsp;AptarGroup, Inc. | &nbsp;&nbsp;&nbsp;36207 | &nbsp;&nbsp;&nbsp;&nbsp;4839428 |
| &nbsp;&nbsp;&nbsp;Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;44896 | &nbsp;&nbsp;&nbsp;&nbsp;10462564 |
| &nbsp;&nbsp;&nbsp;Element Solutions, Inc. | &nbsp;&nbsp;399702 | &nbsp;&nbsp;&nbsp;&nbsp;10060499 |
| &nbsp;&nbsp;&nbsp;Quaker Chemical Corp.<sup>1</sup> | &nbsp;&nbsp;&nbsp;44803 | &nbsp;&nbsp;&nbsp;&nbsp;5902795 |
| &nbsp;&nbsp;&nbsp;RPM International, Inc. | &nbsp;&nbsp;80006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9431107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Materials |  | &nbsp;&nbsp;&nbsp;40696393 |
| &nbsp;&nbsp;&nbsp;**Real Estate - 3.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Agree Realty Corp., REIT | &nbsp;&nbsp;&nbsp;96667 | &nbsp;&nbsp;&nbsp;&nbsp;6867223 |
| &nbsp;&nbsp;&nbsp;EastGroup Properties, Inc., REIT | &nbsp;&nbsp;&nbsp;38738 | &nbsp;&nbsp;&nbsp;&nbsp;6556794 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties, Inc., REIT | &nbsp;&nbsp;272912 | &nbsp;&nbsp;&nbsp;&nbsp;5226265 |
| &nbsp;&nbsp;&nbsp;Sun Communities, Inc., REIT <sup>1</sup> | &nbsp;&nbsp;&nbsp;57823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7459167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Real Estate |  | &nbsp;&nbsp;&nbsp;26109449 |
| &nbsp;&nbsp;&nbsp;**Utilities - 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;IDACORP, Inc. | &nbsp;&nbsp;&nbsp;68261 | &nbsp;&nbsp;&nbsp;&nbsp;9020691 |
| &nbsp;&nbsp;&nbsp;Portland General Electric Co. | &nbsp;&nbsp;143605 | &nbsp;&nbsp;&nbsp;&nbsp;6318620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Utilities |  | &nbsp;&nbsp;&nbsp;&nbsp;15339311 |
| **Total Common Stocks<br> (Cost $560,676,349)** |  | &nbsp;&nbsp;732993388 |

---

---

| | | |
|:---|:---|:---|
|  | Principal<br> Amount |  |
| **Short-Term Investments - 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**Joint Repurchase Agreements - 1.5%<sup>2</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;Daiwa Capital Markets America, dated 09/30/25, due 10/01/25, 4.210% total to be received $2,567,653 (collateralized by various U.S. Government Agency Obligations and U.S. Treasuries, 2.000% - 7.500%, 08/27/27 - 09/01/55, totaling $2,618,731) | $2567353 | &nbsp;&nbsp;2567353 |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc., dated 09/30/25, due 10/01/25, 4.210% total to be received $103,836 (collateralized by various U.S. Treasuries, 0.000% - 4.000%, 07/15/26 - 08/15/54, totaling $105,900) | &nbsp;&nbsp;&nbsp;&nbsp;103824 | &nbsp;&nbsp;&nbsp;&nbsp;103824 |

---

---

| | | |
|:---|:---|:---|
|  | Principal<br> Amount | &nbsp;&nbsp;Value |
| &nbsp;&nbsp;&nbsp;HSBC Securities USA, Inc., dated 09/30/25, due 10/01/25, 4.220% total to be received $2,567,654 (collateralized by various U.S. Government Agency Obligations, 1.923% - 6.500%, 08/01/32 - 06/01/64, totaling $2,618,700) | $2567353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2567353 |
| &nbsp;&nbsp;&nbsp;JPMorgan Securities LLC, dated 09/30/25, due 10/01/25, 4.200% total to be received $195,627 (collateralized by various U.S. Treasuries, 4.125% - 4.500%, 12/31/31 - 05/31/32, totaling $199,516) | &nbsp;&nbsp;&nbsp;&nbsp;195604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195604 |
| &nbsp;&nbsp;&nbsp;Natwest Markets Securities, Inc., dated 09/30/25, due 10/01/25, 4.190% total to be received $270,467 (collateralized by various U.S. Treasuries, 0.000% - 6.625%, 11/18/25 - 08/15/55, totaling $275,845) | &nbsp;&nbsp;&nbsp;&nbsp;270436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270436 |
| &nbsp;&nbsp;&nbsp;RBC Dominion Securities, Inc., dated 09/30/25, due 10/01/25, 4.190% total to be received $87,053 (collateralized by various U.S. Treasuries, 0.000% - 4.750%, 10/23/25 - 08/15/55, totaling $88,784) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87043 |
| &nbsp;&nbsp;&nbsp;RBC Dominion Securities, Inc., dated 09/30/25, due 10/01/25, 4.200% total to be received $2,567,653 (collateralized by various U.S. Government Agency Obligations and U.S. Treasuries, 0.625% - 7.000%, 01/15/29 - 10/01/55, totaling $2,618,701) | &nbsp;&nbsp;&nbsp;2567353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2567353 |
| &nbsp;&nbsp;&nbsp;TD Securities LLC, dated 09/30/25, due 10/01/25, 4.210% total to be received $2,566,241 (collateralized by various U.S. Government Agency Obligations, 2.000% - 6.500%, 08/01/42 - 09/01/55, totaling $2,617,260) | &nbsp;&nbsp;&nbsp;2565941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2565941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Joint Repurchase Agreements |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10924907 |
| &nbsp;&nbsp;&nbsp;**Repurchase Agreements - 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Fixed Income Clearing Corp., dated 09/30/25, due 10/01/25, 3.850% total to be received $1,976,211 (collateralized by a U.S. Treasury Note, 4.375%, 01/31/32, totaling $2,015,576) | &nbsp;&nbsp;&nbsp;1976000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1976000 |
| **Total Short-Term Investments<br> (Cost $12,900,907)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12900907 |
| **Total Investments - 101.1%<br> (Cost $573,577,256)** |  | &nbsp;&nbsp;&nbsp;&nbsp; 745894295 |
| **Other Assets, less Liabilities - (1.1)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8165869) |
| **Net Assets - 100.0%** |  | &nbsp;&nbsp;**$737728426** |

---

------

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

<sup>1</sup> Some of these securities, amounting to $58,134,668 or 7.9% 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.

<sup>2</sup> Cash collateral received for securities lending activity was invested in these joint repurchase agreements.

REIT Real Estate Investment Trust

------

AMG GW&K Small/Mid Cap Core 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 September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &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;**Common Stocks<sup>†</sup>** | &nbsp;&nbsp; $732993388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; $732993388 |
| &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; $10924907 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10924907 |
| &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; 1976000 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1976000 |
| &nbsp;&nbsp;**Total Investments in Securities** | &nbsp;&nbsp;$732993388 | &nbsp;&nbsp;$12900907 | &nbsp;&nbsp;— | &nbsp;&nbsp;$745894295 |

---

<br> <sup>†</sup> All common stocks held in the Fund are Level 1 securities. For a detailed breakout of common stocks by major industry classification, please refer to the Fund's Schedule of Portfolio Investments.

For the period ended September 30, 2025, there were no transfers in or out of Level 3.

The Fund participates in the securities lending program offered by The Bank of New York Mellon providing for the lending of securities to qualified brokers. The value of securities loaned on positions held, cash collateral and securities collateral received at September 30, 2025, were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Securities<br> Loaned** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cash<br> Collateral<br> Received** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Securities<br> Collateral<br> Received** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total<br> Collateral<br> Received** |
| $58134668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $10924907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $48705985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $59630892 |

---

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

---

| | | |
|:---|:---|:---|
| **Collateral<br> Type** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Coupon<br> Range** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Maturity<br> Date Range** |
| U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.125%-4.875% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10/15/25-11/15/54 |

---

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

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Stamford

  - **State:** CT

  - **Foreign country:** US

  - **Zip / Postal Code:** 06901

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

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

- **a. Name of Series:** AMG GW&K Small/Mid Cap Core Fund

- **b. EDGAR series identifier (if any):** S000049941

- **c. LEI of Series:** 5493002PAZ2U0ZICMH29

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $749565950.16

**Total Liabilities:** $11559323.96

**Net Assets:** $738006626.20

**Cash Not Reported:** $988.64

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000157696 | 2.81%                | 4.50%                | -0.62%               |
| Class ID C000180072 | 2.85%                | 4.52%                | -0.61%               |
| Class ID C000157694 | 2.85%                | 4.48%                | -0.61%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8534935.87              | $13280006.58                               |
| Month 2  | $4948306.73              | $29132144.30                               |
| Month 3  | $-2668623.29             | $-2067736.83                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| J.P. MORGAN SECURITIES LLC         | JP MORGAN SECURITIES LLC                | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Long             | RA               | CORP              | US        |    195604 | PA      | $195604.00    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Neurocrine Biosciences Inc         | Neurocrine Biosciences Inc              | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     82318 | NS      | $11555800.84  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co               | Matador Resources Co                    | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |    105606 | NS      | $4744877.58   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup Inc                     | AptarGroup Inc                          | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |     36377 | NS      | $4862149.82   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.       | RBC DOMINION SECURITIES INC             | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | Long             | RA               | CORP              | US        |   2567353 | PA      | $2567353.00   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Tri Pointe Homes Inc               | Tri Pointe Homes Inc                    | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    183412 | NS      | $6230505.64   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                | Sun Communities Inc                     | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     58098 | NS      | $7494642.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: —       |
| EastGroup Properties Inc           | EastGroup Properties Inc                | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |     38920 | NS      | $6587599.20   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SECURITIES (USA) LLC            | TD SECURITIES (USA) LLC                 | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Long             | RA               | CORP              | US        |   2565941 | PA      | $2565941.00   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Voya Financial Inc                 | Voya Financial Inc                      | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |    158461 | NS      | $11852882.80  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                          | Pool Corp                               | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |     20228 | NS      | $6272095.96   | 0.85%             |  |  |  | No            |                  1 | On Loan: —       |
| Manhattan Associates Inc           | Manhattan Associates Inc                | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |     26403 | NS      | $5412086.94   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                | Texas Roadhouse Inc                     | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     71592 | NS      | $11895010.80  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Azenta Inc                         | Azenta Inc                              | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |     88452 | NS      | $2540341.44   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Hologic Inc                        | Hologic Inc                             | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |    119721 | NS      | $8079970.29   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                         | Natera Inc                              | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56134 | NS      | $9035889.98   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet Inc                       | Freshpet Inc                            | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |     39424 | NS      | $2172656.64   | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Levi Strauss & Co                  | Levi Strauss & Co                       | CUSIP: 52736R102<br>LEI: MB0UERO0RDFKU8258G77 | Long             | EC               | CORP              | US        |    277547 | NS      | $6466845.10   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                            | ITT Inc                                 | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     70456 | NS      | $12594714.56  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Energy Industries Inc     | Advanced Energy Industries Inc          | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |     66109 | NS      | $11247785.26  | 1.52%             |  |  |  | No            |                  1 | On Loan: —       |
| Piper Sandler Cos                  | Piper Sandler Cos                       | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |     48392 | NS      | $16791540.08  | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Exponent Inc                       | Exponent Inc                            | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |     53548 | NS      | $3720515.04   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                   | RBC Bearings Inc                        | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33944 | NS      | $13248003.76  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp            | Magnolia Oil & Gas Corp                 | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    252301 | NS      | $6022424.87   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                        | Cognex Corp                             | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |    208783 | NS      | $9457869.90   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                         | Insmed Inc                              | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |     71573 | NS      | $10307227.73  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutio     | Bright Horizons Family Solutions Inc    | CUSIP: 109194100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     81419 | NS      | $8839660.83   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding     | Credo Technology Group Holding Ltd      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31100 | NS      | $4528471.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp            | Wintrust Financial Corp                 | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     80439 | NS      | $10653341.16  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc               | Medpace Holdings Inc                    | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |     16880 | NS      | $8679020.80   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| DAIWA CAPITAL MARKETS AMERICA INC. | DAIWA CAPITAL MARKETS AMERICA INC       | CUSIP: 000000000<br>LEI: M67H5PRC0NQKM73ZAS82 | Long             | RA               | CORP              | US        |   2567353 | PA      | $2567353.00   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Grand Canyon Education Inc         | Grand Canyon Education Inc              | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |     38963 | NS      | $8553157.76   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies Inc               | SPX Technologies Inc                    | CUSIP: 78473E103<br>LEI: P761FCI0CPOG24I8JE10 | Long             | EC               | CORP              | US        |     37061 | NS      | $6922253.58   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp              | Stifel Financial Corp                   | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |     90296 | NS      | $10245887.12  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc              | RPM International Inc                   | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |     80386 | NS      | $9475901.68   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC           | Jazz Pharmaceuticals PLC                | CUSIP: 000000000<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |     74085 | NS      | $9764403.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                        | Ovintiv Inc                             | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |    128385 | NS      | $5184186.30   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentherm Inc                       | Gentherm Inc                            | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Long             | EC               | CORP              | US        |    146947 | NS      | $5005014.82   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc                | Dorman Products Inc                     | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |     86815 | NS      | $13532722.20  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corp                       | Vericel Corp                            | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |    144586 | NS      | $4550121.42   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Powell Industries Inc              | Powell Industries Inc                   | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Long             | EC               | CORP              | US        |     34494 | NS      | $10514116.14  | 1.42%             |  |  |  | No            |                  1 | On Loan: —       |
| Globus Medical Inc                 | Globus Medical Inc                      | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |    167219 | NS      | $9576632.13   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| FIXED INCOME CLEARING CORPORATION  | FIXED INCOME CLEARING CORPORATION       | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   1976000 | PA      | $1976000.00   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Entegris Inc                       | Entegris Inc                            | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |    100090 | NS      | $9254321.40   | 1.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Agree Realty Corp                  | Agree Realty Corp                       | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     97122 | NS      | $6899546.88   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings Inc      | Lincoln Electric Holdings Inc           | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |     34743 | NS      | $8193441.69   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ's Wholesale Club Holdings I     | BJ's Wholesale Club Holdings Inc        | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |    134447 | NS      | $12537182.75  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| SailPoint Inc                      | SailPoint Inc                           | CUSIP: 78781J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    470256 | NS      | $10383252.48  | 1.41%             |  |  |  | No            |                  1 | On Loan: —       |
| Quaker Chemical Corp               | Quaker Chemical Corp                    | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |     45014 | NS      | $5930594.50   | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| Antero Resources Corp              | Antero Resources Corp                   | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |    174025 | NS      | $5840279.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| NATWEST MARKETS SECURITIES INC.    | NATWEST MARKETS SECURITIES INC          | CUSIP: 000000000<br>LEI: ZE2ZWJ5BTIQJ8M0C6K34 | Long             | RA               | CORP              | US        |    270436 | PA      | $270436.00    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| ServiceTitan Inc                   | ServiceTitan Inc                        | CUSIP: 81764X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42473 | NS      | $4282552.59   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp             | Permian Resources Corp                  | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    358690 | NS      | $4591232.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegion plc                       | Allegion plc                            | CUSIP: 000000000<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | IE        |     37470 | NS      | $6645304.50   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc                       | Assurant Inc                            | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |     44681 | NS      | $9677904.60   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                        | IDACORP Inc                             | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     68585 | NS      | $9063507.75   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp             | Paylocity Holding Corp                  | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |     47946 | NS      | $7636359.42   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp PLC          | Gates Industrial Corp PLC               | CUSIP: 000000000<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               | CORP              | US        |    543117 | NS      | $13480163.94  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc          | Halozyme Therapeutics Inc               | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |    108236 | NS      | $7938028.24   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp     | Atlantic Union Bankshares Corp          | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    259033 | NS      | $9141274.57   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners In     | Pinnacle Financial Partners Inc         | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |     57860 | NS      | $5426689.40   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive Inc             | Group 1 Automotive Inc                  | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |     24614 | NS      | $10768871.14  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Signal Corp                | Federal Signal Corp                     | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     95768 | NS      | $11395434.32  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc       | Simpson Manufacturing Co Inc            | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |     37659 | NS      | $6306376.14   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc                | Eagle Materials Inc                     | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     45109 | NS      | $10512201.36  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                          | Jabil Inc                               | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     47306 | NS      | $10273444.02  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.         | HSBC SECURITIES (USA) INC               | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Long             | RA               | CORP              | US        |   2567353 | PA      | $2567353.00   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Tandem Diabetes Care Inc           | Tandem Diabetes Care Inc                | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |    299901 | NS      | $3640798.14   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC DOMINION SECURITIES INC.       | RBC DOMINION SECURITIES INC             | CUSIP: 000000000<br>LEI: 549300QJJX6CVVUXLE15 | Long             | RA               | CORP              | US        |     87043 | PA      | $87043.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordson Corp                       | Nordson Corp                            | CUSIP: 655663102<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | EC               | CORP              | US        |     50548 | NS      | $11471868.60  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories Inc           | Bio-Rad Laboratories Inc                | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |     27072 | NS      | $7590718.08   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp                 | UMB Financial Corp                      | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     71599 | NS      | $8473741.65   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc          | Kinsale Capital Group Inc               | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |     22471 | NS      | $9556017.46   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Glacier Bancorp Inc                | Glacier Bancorp Inc                     | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |    120176 | NS      | $5848965.92   | 0.79%             |  |  |  | No            |                  1 | On Loan: —       |
| MACOM Technology Solutions Hol     | MACOM Technology Solutions Holdings Inc | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     91903 | NS      | $11441004.47  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc              | Burlington Stores Inc                   | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     36717 | NS      | $9344476.50   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc            | Comfort Systems USA Inc                 | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |     23821 | NS      | $19656612.78  | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc              | Element Solutions Inc                   | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |    401602 | NS      | $10108322.34  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Moog Inc                           | Moog Inc                                | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |     37504 | NS      | $7788455.68   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co       | Portland General Electric Co            | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |    144281 | NS      | $6348364.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs Inc                | Churchill Downs Inc                     | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |     71822 | NS      | $6967452.22   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| API Group Corp                     | API Group Corp                          | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               | CORP              | US        |    432974 | NS      | $14881316.38  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp              | Integer Holdings Corp                   | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |     61713 | NS      | $6376804.29   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co          | Performance Food Group Co               | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |    105200 | NS      | $10945008.00  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc               | Cavco Industries Inc                    | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25621 | NS      | $14878883.33  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CyberArk Software Ltd              | CyberArk Software Ltd                   | CUSIP: 000000000<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |     10250 | NS      | $4952287.50   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc           | Procore Technologies Inc                | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |    134652 | NS      | $9818823.84   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers Inc           | Cullen/Frost Bankers Inc                | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |     65336 | NS      | $8282644.72   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CCC Intelligent Solutions Hold     | CCC Intelligent Solutions Holdings Inc  | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    905336 | NS      | $8247610.96   | 1.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Zebra Technologies Corp            | Zebra Technologies Corp                 | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |     24772 | NS      | $7361247.52   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie     | Applied Industrial Technologies Inc     | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |     25182 | NS      | $6573761.10   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Marzetti Company/The               | Marzetti Company/The                    | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |     40939 | NS      | $7073849.81   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.         | HSBC SECURITIES (USA) INC               | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Long             | RA               | CORP              | US        |    103824 | PA      | $103824.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Schneider National Inc             | Schneider National Inc                  | CUSIP: 80689H102<br>LEI: 529900V6GZ6G6E3BLV72 | Long             | EC               | CORP              | US        |    200024 | NS      | $4232507.84   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc          | Healthpeak Properties Inc               | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |    274187 | NS      | $5250681.05   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SiteOne Landscape Supply Inc       | SiteOne Landscape Supply Inc            | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |     65336 | NS      | $8415276.80   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** AMG Funds

**Signature:** Thomas Disbrow

**Name of Signer:** Thomas Disbrow

**Title:** Principal Financial Officer