AMG Veritas Global Focus Fund
Schedule of Portfolio Investments (unaudited)
July 31, 2021
Shares | Value | |
Common Stocks - 99.8% | ||
Communication Services - 19.6% | ||
Alphabet, Inc., Class A (United States)* | 1,850 | $4,984,881 |
Charter Communications, Inc., Class A (United States)* | 5,300 | 3,943,465 |
Facebook, Inc., Class A (United States)* | 5,700 | 2,030,910 |
Total Communication Services | 10,959,256 | |
Consumer Discretionary - 2.7% | ||
Alibaba Group Holding, Ltd., Sponsored ADR (China)* | 7,800 | 1,522,482 |
Consumer Staples - 4.5% | ||
Unilever PLC (United Kingdom) | 43,900 | 2,530,391 |
Financials - 6.7% | ||
Intercontinental Exchange, Inc. (United States) | 12,900 | 1,545,807 |
Moody's Corp. (United States) | 5,900 | 2,218,400 |
Total Financials | 3,764,207 | |
Health Care - 30.4% | ||
Abbott Laboratories (United States) | 9,700 | 1,173,506 |
Baxter International, Inc. (United States) | 23,000 | 1,779,050 |
Becton Dickinson and Co. (United States) | 6,800 | 1,739,100 |
Catalent, Inc. (United States)* | 13,800 | 1,653,378 |
Cochlear, Ltd. (Australia) | 2,892 | 523,218 |
The Cooper Cos, Inc. (United States) | 4,700 | 1,982,319 |
CVS Health Corp. (United States) | 17,100 | 1,408,356 |
Illumina, Inc. (United States)* | 1,400 | 694,050 |
Sonic Healthcare, Ltd. (Australia) | 61,500 | 1,817,104 |
Thermo Fisher Scientific, Inc. (United States) | 3,700 | 1,998,037 |
UnitedHealth Group, Inc. (United States) | 5,500 | 2,267,210 |
Total Health Care | 17,035,328 | |
Industrials - 24.5% | ||
Aena SME SA (Spain)*,1 | 9,700 | 1,544,694 |
Shares | Value | |
Airbus SE (France)* | 9,800 | $1,344,254 |
BAE Systems PLC (United Kingdom) | 343,100 | 2,750,818 |
Canadian Pacific Railway, Ltd. (Canada) | 35,600 | 2,645,792 |
CoStar Group, Inc. (United States)* | 12,000 | 1,066,200 |
Safran SA (France) | 14,700 | 1,923,854 |
Vinci SA (France) | 23,000 | 2,435,115 |
Total Industrials | 13,710,727 | |
Information Technology - 11.4% | ||
Fiserv, Inc. (United States)* | 18,000 | 2,071,980 |
Mastercard, Inc., Class A (United States) | 4,600 | 1,775,324 |
Microsoft Corp. (United States) | 9,000 | 2,564,190 |
Total Information Technology | 6,411,494 | |
Total Common Stocks (Cost $47,153,961) | 55,933,885 | |
Short-Term Investments - 0.4% | ||
Other Investment Companies - 0.4% | ||
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%2 | 79,867 | 79,867 |
Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 0.01%2 | 79,866 | 79,866 |
JPMorgan U.S. Government Money Market Fund, IM Shares, 0.03%2 | 82,287 | 82,287 |
Total Short-Term Investments (Cost $242,020) | 242,020 | |
Total Investments - 100.2% (Cost $47,395,981) | 56,175,905 | |
Other Assets, less Liabilities - (0.2)% | (137,661) | |
Net Assets - 100.0% | $56,038,244 |
* | 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 July 31, 2021, the value of these securities amounted to $1,544,694 or 2.8% of net assets. |
2 | Yield shown represents the July 31, 2021, 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 Veritas Global Focus 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 July 31, 2021:
Level 1 | Level 21 | Level 3 | Total | ||||
Investments in Securities | |||||||
Common Stocks | |||||||
Health Care | $14,695,006 | $2,340,322 | — | $17,035,328 | |||
Industrials | 3,711,992 | 9,998,735 | — | 13,710,727 | |||
Communication Services | 10,959,256 | — | — | 10,959,256 | |||
Information Technology | 6,411,494 | — | — | 6,411,494 | |||
Financials | 3,764,207 | — | — | 3,764,207 | |||
Consumer Staples | 2,530,391 | — | — | 2,530,391 | |||
Consumer Discretionary | 1,522,482 | — | — | 1,522,482 | |||
Short-Term Investments | |||||||
Other Investment Companies | 242,020 | — | — | 242,020 | |||
Total Investments in Securities | $43,836,848 | $12,339,057 | — | $56,175,905 |
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 July 31, 2021, there were no transfers in or out of Level 3.
The country allocation in the Schedule of Portfolio Investments at July 31, 2021, was as follows:
Country | % of Long-Term Investments |
Australia | 4.2 |
Canada | 4.7 |
China | 2.7 |
France | 10.2 |
Spain | 2.8 |
United Kingdom | 9.4 |
United States | 66.0 |
100.0 |
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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