AMG Montrusco Bolton Large Cap Growth Fund
Schedule of Portfolio Investments (unaudited)
July 31, 2024
| Shares | Value | |
| Common Stocks - 98.8% | ||
| Communication Services - 12.2% | ||
| Alphabet, Inc., Class A | 103,236 | $17,709,104 |
| Meta Platforms, Inc., Class A | 18,192 | 8,638,107 |
| Total Communication Services | 26,347,211 | |
| Consumer Discretionary - 12.8% | ||
| Amazon.com, Inc.* | 55,374 | 10,353,830 |
| Booking Holdings, Inc. | 1,394 | 5,178,724 |
| Chipotle Mexican Grill, Inc.* | 49,797 | 2,704,973 |
| Garmin, Ltd. (Switzerland) | 15,084 | 2,583,135 |
| Lululemon Athletica, Inc. (Canada)* | 26,266 | 6,793,964 |
| Total Consumer Discretionary | 27,614,626 | |
| Consumer Staples - 2.8% | ||
| Sysco Corp. | 77,908 | 5,971,648 |
| Energy - 1.4% | ||
| Valero Energy Corp. | 18,838 | 3,046,481 |
| Financials - 5.3% | ||
| CME Group, Inc. | 15,872 | 3,074,565 |
| Marsh & McLennan Cos., Inc. | 14,650 | 3,260,650 |
| Mastercard, Inc., Class A | 10,797 | 5,006,677 |
| Total Financials | 11,341,892 | |
| Health Care - 7.4% | ||
| Amgen, Inc. | 25,841 | 8,591,357 |
| Danaher Corp. | 16,803 | 4,655,775 |
| Mettler-Toledo International, Inc.* | 1,813 | 2,757,628 |
| Total Health Care | 16,004,760 | |
| Industrials - 6.0% | ||
| Rollins, Inc. | 162,509 | 7,785,806 |
| Waste Connections, Inc. (Canada) | 29,516 | 5,247,060 |
| Total Industrials | 13,032,866 |
| Shares | Value | |
| Information Technology - 48.6% | ||
| Adobe, Inc.* | 35,591 | $19,633,775 |
| Apple, Inc. | 93,490 | 20,762,259 |
| Enphase Energy, Inc.* | 49,988 | 5,754,119 |
| Microsoft Corp. | 46,211 | 19,332,372 |
| NVIDIA Corp. | 160,720 | 18,807,454 |
| Texas Instruments, Inc. | 50,512 | 10,294,851 |
| Workday, Inc., Class A* | 44,820 | 10,179,518 |
| Total Information Technology | 104,764,348 | |
| Materials - 1.2% | ||
| The Sherwin-Williams Co. | 7,681 | 2,694,495 |
| Real Estate - 1.1% | ||
| Public Storage, REIT | 7,692 | 2,276,217 |
| Total Common Stocks (Cost $157,909,293) | 213,094,544 | |
| Short-Term Investments - 1.2% | ||
| Other Investment Companies - 1.2% | ||
| Dreyfus Government Cash Management Fund, Institutional Shares, 5.21%1 | 1,004,492 | 1,004,492 |
| Dreyfus Institutional Preferred Government Money Market Fund, Institutional Shares, 5.28%1 | 1,506,738 | 1,506,738 |
| Total Short-Term Investments (Cost $2,511,230) | 2,511,230 | |
| Total Investments - 100.0% (Cost $160,420,523) | 215,605,774 | |
| Other Assets, less Liabilities - (0.0)%# | (21,315) | |
| Net Assets - 100.0% | $215,584,459 |
| * | Non-income producing security. |
| # | Less than (0.05)%. |
| 1 | Yield shown represents the July 31, 2024, seven day average yield, which refers to the sum of the previous seven days' dividends paid, expressed as an annual percentage. |
| REIT | Real Estate Investment Trust |
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AMG Montrusco Bolton Large Cap Growth 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, 2024:
| Level 1 | Level 2 | Level 3 | Total | ||||
| Investments in Securities | |||||||
| Common Stocks† | $213,094,544 | — | — | $213,094,544 | |||
| Short-Term Investments | |||||||
| Other Investment Companies | 2,511,230 | — | — | 2,511,230 | |||
| Total Investments in Securities | $215,605,774 | — | — | $215,605,774 | |||
| † | 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 July 31, 2024, 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.
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