AMG TimesSquare Global Small Cap Fund
Schedule of Portfolio Investments (unaudited)
September 30, 2022
Shares | Value | |
Common Stocks - 95.1% | ||
Communication Services - 3.4% | ||
Auto Trader Group PLC (United Kingdom)1 | 2,300 | $13,044 |
Future PLC (United Kingdom) | 700 | 10,120 |
Internet Initiative Japan, Inc. (Japan) | 1,800 | 27,551 |
Nordic Entertainment Group AB, Class B (Sweden)* | 500 | 9,713 |
Total Communication Services | 60,428 | |
Consumer Discretionary - 12.7% | ||
Brunswick Corp. (United States) | 400 | 26,180 |
CIE Automotive, S.A. (Spain) | 800 | 16,565 |
Dalata Hotel Group PLC (Ireland)* | 3,700 | 10,227 |
Floor & Decor Holdings, Inc., Class A (United States)*,2 | 300 | 21,078 |
Games Workshop Group PLC (United Kingdom) | 200 | 12,789 |
Hilton Grand Vacations, Inc. (United States)* | 800 | 26,312 |
K Car Co., Ltd. (South Korea) | 800 | 7,571 |
momo.com, Inc. (Taiwan) | 708 | 11,815 |
National Vision Holdings, Inc. (United States)*,2 | 700 | 22,855 |
Planet Fitness, Inc., Class A (United States)* | 400 | 23,064 |
Spin Master Corp. (Canada)1 | 500 | 15,047 |
Topgolf Callaway Brands Corp. (United States)* | 1,200 | 23,112 |
Visteon Corp. (United States)* | 100 | 10,606 |
Total Consumer Discretionary | 227,221 | |
Consumer Staples - 7.0% | ||
Kobe Bussan Co., Ltd. (Japan) | 1,700 | 40,897 |
Performance Food Group Co. (United States)* | 600 | 25,770 |
Sugi Holdings Co., Ltd. (Japan) | 150 | 6,024 |
Tate & Lyle PLC (United Kingdom) | 3,400 | 25,636 |
Viscofan, S.A. (Spain) | 500 | 27,333 |
Total Consumer Staples | 125,660 | |
Energy - 2.0% | ||
Gaztransport Et Technigaz, S.A. (France) | 200 | 22,053 |
TGS ASA (Norway) | 1,100 | 13,444 |
Total Energy | 35,497 | |
Financials - 16.6% | ||
FinecoBank Banca Fineco S.P.A. (Italy) | 1,700 | 20,996 |
Focus Financial Partners, Inc., Class A (United States)* | 700 | 22,057 |
Nordnet AB publ (Sweden) | 1,300 | 14,720 |
Patria Investments, Ltd., Class A (Cayman Islands) | 1,100 | 14,355 |
PJT Partners, Inc., Class A (United States) | 700 | 46,774 |
RenaissanceRe Holdings, Ltd. (Bermuda) | 300 | 42,117 |
Shares | Value | |
Silvergate Capital Corp., Class A (United States)* | 200 | $15,070 |
St James's Place PLC (United Kingdom) | 1,000 | 11,388 |
Steadfast Group, Ltd. (Australia) | 12,400 | 36,871 |
Topdanmark AS (Denmark) | 800 | 37,477 |
Zenkoku Hosho Co., Ltd. (Japan) | 1,100 | 36,586 |
Total Financials | 298,411 | |
Health Care - 7.9% | ||
ALK-Abello A/S (Denmark)* | 1,000 | 15,760 |
Amplifon S.P.A. (Italy) | 300 | 7,816 |
As One Corp. (Japan) | 200 | 8,260 |
Ascendis Pharma A/S, ADR (Denmark)* | 150 | 15,489 |
Charles River Laboratories International, Inc. (United States)* | 50 | 9,840 |
Chemed Corp. (United States) | 100 | 43,656 |
Encompass Health Corp. (United States) | 500 | 22,615 |
Siegfried Holding AG (Switzerland) | 25 | 18,484 |
Total Health Care | 141,920 | |
Industrials - 26.5% | ||
Arcadis, N.V. (Netherlands) | 400 | 13,019 |
The AZEK Co., Inc. (United States)* | 800 | 13,296 |
Befesa, S.A. (Luxembourg)1 | 200 | 6,069 |
Bodycote PLC (United Kingdom) | 2,000 | 10,388 |
Booz Allen Hamilton Holding Corp. (United States) | 150 | 13,853 |
Casella Waste Systems, Inc., Class A (United States)* | 375 | 28,646 |
Diploma PLC (United Kingdom) | 500 | 12,848 |
Downer EDI, Ltd. (Australia) | 6,600 | 19,305 |
EMCOR Group, Inc. (United States) | 300 | 34,644 |
First Advantage Corp. (United States)* | 1,700 | 21,811 |
Fuji Corp. (Japan) | 900 | 11,778 |
Hexcel Corp. (United States) | 300 | 15,516 |
HomeServe PLC (United Kingdom) | 1,600 | 21,081 |
Interpump Group S.P.A. (Italy) | 200 | 6,468 |
IPH, Ltd. (Australia) | 6,000 | 36,509 |
KION Group AG (Germany) | 666 | 12,755 |
Nabtesco Corp. (Japan) | 600 | 12,274 |
Nexans, S.A. (France) | 500 | 44,509 |
Regal Rexnord Corp. (United States) | 250 | 35,090 |
Rotork PLC (United Kingdom) | 5,800 | 15,052 |
RS Group PLC (United Kingdom) | 1,300 | 13,877 |
RWS Holdings PLC (United Kingdom) | 2,400 | 8,575 |
Saab AB, Class B (Sweden) | 800 | 24,926 |
Valmet OYJ (Finland)2 | 600 | 12,130 |
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AMG TimesSquare Global Small Cap Fund
Schedule of Portfolio Investments (continued)
Shares | Value | |
Industrials - 26.5% (continued) | ||
WillScot Mobile Mini Holdings Corp. (United States)* | 400 | $16,132 |
Zurn Water Solutions Corp. (United States) | 600 | 14,700 |
Total Industrials | 475,251 | |
Information Technology - 14.9% | ||
Accton Technology Corp. (Taiwan) | 1,700 | 14,500 |
Chinasoft International, Ltd. (China) | 20,200 | 12,339 |
Copperleaf Technologies, Inc. (Canada)* | 500 | 2,273 |
CyberArk Software, Ltd. (Israel)* | 250 | 37,485 |
Fortnox AB (Sweden) | 2,000 | 7,687 |
Jack Henry & Associates, Inc. (United States) | 150 | 27,340 |
Keywords Studios PLC (Ireland) | 600 | 15,306 |
Littelfuse, Inc. (United States) | 50 | 9,934 |
MACOM Technology Solutions Holdings, Inc. (United States)* | 400 | 20,716 |
MKS Instruments, Inc. (United States) | 125 | 10,330 |
Nice, Ltd., Sponsored ADR (Israel)* | 150 | 28,236 |
Simplex Holdings, Inc. (Japan)* | 1,200 | 15,378 |
Spirent Communications PLC (United Kingdom) | 7,000 | 20,362 |
TOTVS, S.A. (Brazil) | 4,583 | 25,054 |
WNS Holdings, Ltd., ADR (India)* | 250 | 20,460 |
Total Information Technology | 267,400 |
Shares | Value | |
Materials - 2.5% | ||
Asahi Holdings, Inc. (Japan) | 800 | $11,236 |
Huhtamaki Oyj (Finland)2 | 700 | 22,262 |
Verallia, S.A. (France)1 | 500 | 11,241 |
Total Materials | 44,739 | |
Real Estate - 0.9% | ||
Kennedy-Wilson Holdings, Inc. (United States) | 1,000 | 15,460 |
Utilities - 0.7% | ||
Nippon Gas Co., Ltd. (Japan) | 900 | 12,818 |
Total Common Stocks (Cost $1,980,971) | 1,704,805 | |
Short-Term Investments - 6.3% | ||
Other Investment Companies - 6.3% | ||
Dreyfus Government Cash Management Fund, Institutional Shares, 2.75%3 | 75,226 | 75,226 |
JPMorgan U.S. Government Money Market Fund, IM Shares, 2.75%3 | 38,681 | 38,681 |
Total Short-Term Investments (Cost $113,907) | 113,907 | |
Total Investments - 101.4% (Cost $2,094,878) | 1,818,712 | |
Other Assets, less Liabilities - (1.4)% | (25,826) | |
Net Assets - 100.0% | $1,792,886 |
* | Non-income producing security. |
1 | Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At September 30, 2022, the value of these securities amounted to $45,401 or 2.5% of net assets. |
2 | Some of these securities, amounting to $69,287 or 3.9% of net assets, were out on loan to various borrowers and are collateralized by various U.S. Treasury Obligations. See below for more information. |
3 | Yield shown represents the September 30, 2022, seven day average yield, which refers to the sum of the previous seven days' dividends paid, expressed as an annual percentage. |
ADR | American Depositary Receipt |
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AMG TimesSquare Global Small Cap 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, 2022:
Level 1 | Level 21 | Level 3 | Total | ||||
Investments in Securities | |||||||
Common Stocks | |||||||
Industrials | $212,651 | $262,600 | — | $475,251 | |||
Financials | 177,850 | 120,561 | — | 298,411 | |||
Information Technology | 181,828 | 85,572 | — | 267,400 | |||
Consumer Discretionary | 168,254 | 58,967 | — | 227,221 | |||
Health Care | 91,600 | 50,320 | — | 141,920 | |||
Consumer Staples | 25,770 | 99,890 | — | 125,660 | |||
Communication Services | — | 60,428 | — | 60,428 | |||
Materials | — | 44,739 | — | 44,739 | |||
Energy | — | 35,497 | — | 35,497 | |||
Real Estate | 15,460 | — | — | 15,460 | |||
Utilities | — | 12,818 | — | 12,818 | |||
Short-Term Investments | |||||||
Other Investment Companies | 113,907 | — | — | 113,907 | |||
Total Investment in Securities | $987,320 | $831,392 | — | $1,818,712 |
1 | An external pricing service is used to reflect any impact on security value due to market movements between the time the Fund valued such foreign securities and the earlier closing of foreign markets. |
For the period ended September 30, 2022, there were no transfers in or out of Level 3.
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AMG TimesSquare Global Small Cap Fund
Schedule of Portfolio Investments (continued)
The country allocation in the Schedule of Portfolio Investments at September 30, 2022, was as follows:
Country | % of Long-Term Investments |
Australia | 5.4 |
Bermuda | 2.5 |
Brazil | 1.5 |
Canada | 1.0 |
Cayman Islands | 0.8 |
China | 0.7 |
Denmark | 4.0 |
Finland | 2.0 |
France | 4.6 |
Germany | 0.7 |
India | 1.2 |
Ireland | 1.5 |
Israel | 3.9 |
Italy | 2.1 |
Japan | 10.7 |
Luxembourg | 0.4 |
Netherlands | 0.8 |
Norway | 0.8 |
South Korea | 0.4 |
Spain | 2.6 |
Sweden | 3.3 |
Switzerland | 1.1 |
Taiwan | 1.5 |
United Kingdom | 10.3 |
United States | 36.2 |
100.0 |
The Fund participates in the securities lending program offered by The Bank of New York Mellon providing for the lending of securities to qualified brokers. The value of securities loaned on positions held, cash collateral and securities collateral received at September 30, 2022, were as follows:
Securities Loaned | Cash Collateral Received | Securities Collateral Received | Total Collateral Received | |
$69,287 | — | $72,406 | $72,406 |
The following table summarizes the securities received as collateral for securities lending at September 30, 2022:
Collateral Type | Coupon Range | Maturity Date Range | |
U.S. Treasury Obligations | 0.000%-5.250% | 10/20/22-05/15/51 |
For additional information about significant accounting policies, including valuation of investments, refer to the Fund’s most recent semi or annual report.
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