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            <brokerName>Berenberg Capital Markets LLC</brokerName>
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          <broker>
            <brokerName>BNY MELLON CAPITAL MARKETS, LLC</brokerName>
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            <grossCommission>289.28000000</grossCommission>
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          <broker>
            <brokerName>DAIWA CAPITAL MARKETS AMERICA INC.</brokerName>
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            <grossCommission>71467.55000000</grossCommission>
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            <brokerName>Cowen and Company, LLC</brokerName>
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          <broker>
            <brokerName>CLSA AMERICAS, LLC</brokerName>
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            <brokerName>PIPER SANDLER &amp; CO.</brokerName>
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            <grossCommission>16620.00000000</grossCommission>
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            <brokerName>PERSHING LLC</brokerName>
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        <isSwingPricing>N</isSwingPricing>
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            <liquidityName>Hedgemark Risk Analytics, LLC</liquidityName>
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            <assetClassType>Equity-preferred</assetClassType>
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        <isLiquidityHiredTerminated>N</isLiquidityHiredTerminated>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>AMG TimesSquare International Small Cap Fund</mgmtInvFundName>
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        <securityLendings>
          <securityLending>
            <securitiesAgentName>The Bank of New York Mellon</securitiesAgentName>
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          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
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          <investmentAdviser>
            <investmentAdviserName>AMG Funds LLC</investmentAdviserName>
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            <subAdviserName>TimesSquare Capital Management LLC</subAdviserName>
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            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
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            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
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        <admins>
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            <adminName>AMG Funds LLC</adminName>
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          <principalTransaction>
            <principalName>BARCLAYS CAPITAL, INC.</principalName>
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        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>171470155.36000000</mnthlyAvgNetAssets>
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          <interfundBorrowing interfundBorrowingLoanAverage="1365672.00000000" interfundBorrowingDaysOutstanding="3"/>
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        <isSwingPricing>N</isSwingPricing>
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            <grossCommission>9295.16000000</grossCommission>
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          <broker>
            <brokerName>JP MORGAN SECURITIES LLC</brokerName>
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        <aggregateCommission>250548.45000000</aggregateCommission>
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        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>756906726.92000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
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          <interfundBorrowing interfundBorrowingLoanAverage="27856203.00000000" interfundBorrowingDaysOutstanding="1"/>
          <interfundBorrowing interfundBorrowingLoanAverage="2497166.00000000" interfundBorrowingDaysOutstanding="3"/>
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        <isSwingPricing>N</isSwingPricing>
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          <liquidityClassificationService>
            <liquidityName>Hedgemark Risk Analytics, LLC</liquidityName>
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            <isAffiliatedPerson>N</isAffiliatedPerson>
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        <isLiquidityHiredTerminated>N</isLiquidityHiredTerminated>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>AMG Yacktman Fund</mgmtInvFundName>
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        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
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        <securityLendings>
          <securityLending>
            <securitiesAgentName>The Bank of New York Mellon</securitiesAgentName>
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                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A" idemnityProviderRssdId="N/A"/>
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          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
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          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
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            <investmentAdviserName>AMG Funds LLC</investmentAdviserName>
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          <subAdviser>
            <subAdviserName>Yacktman Asset Management LP</subAdviserName>
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            <transferAgentName>BNY Mellon Investment Servicing (US) Inc.</transferAgentName>
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          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
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        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
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            <liquidityName>Hedgemark Risk Analytics, LLC</liquidityName>
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        <mgmtInvFundName>AMG Yacktman Focused Fund</mgmtInvFundName>
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        <fundLendSecurities didFundLendSecurities="Y">
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                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A" idemnityProviderRssdId="N/A"/>
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        <investmentAdvisers>
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            <subAdviserName>Yacktman Asset Management LP</subAdviserName>
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            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
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            <adminName>AMG Funds LLC</adminName>
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          <broker>
            <brokerName>Berenberg Capital Markets LLC</brokerName>
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            <grossCommission>90.00000000</grossCommission>
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          <broker>
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            <brokerStateCountry brokerState="US-DE" brokerCountry="US"/>
            <grossCommission>8400.00000000</grossCommission>
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            <brokerName>BTIG, LLC</brokerName>
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            <brokerStateCountry brokerState="US-DE" brokerCountry="US"/>
            <grossCommission>3600.00000000</grossCommission>
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            <brokerName>Titan Advisors, LLC</brokerName>
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            <brokerName>DAIWA CAPITAL MARKETS AMERICA INC.</brokerName>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
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            <liquidityName>Hedgemark Risk Analytics, LLC</liquidityName>
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          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
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            <liquidityName>Hedgemark Risk Analytics, LLC</liquidityName>
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            <isAffiliatedPerson>N</isAffiliatedPerson>
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        </liquidityClassifications>
        <isLiquidityHiredTerminated>N</isLiquidityHiredTerminated>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>AMG TimesSquare Mid Cap Growth Fund</mgmtInvFundName>
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        <mgmtInvLei>54930080QCSKIPDMDA09</mgmtInvLei>
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        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
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          <securityLending>
            <securitiesAgentName>The Bank of New York Mellon</securitiesAgentName>
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                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A" idemnityProviderRssdId="N/A"/>
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            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
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        <interfundLendingDetails isInterfundLending="Y">
          <interfundLending interfundLendingLoanAverage="1225291.00000000" interfundLendingDaysOutstanding="1"/>
        </interfundLendingDetails>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
        <liquidityClassifications>
          <liquidityClassificationService>
            <liquidityName>Hedgemark Risk Analytics, LLC</liquidityName>
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            <liquidityStateCountry liquidityCountry="US" liquidityState="US-DE"/>
            <isAffiliatedPerson>N</isAffiliatedPerson>
            <assetClassType>Repurchase agreement</assetClassType>
            <assetClassType>Equity-common</assetClassType>
          </liquidityClassificationService>
        </liquidityClassifications>
        <isLiquidityHiredTerminated>N</isLiquidityHiredTerminated>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>AMG TimesSquare Small Cap Growth Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000009877</mgmtInvSeriesId>
        <mgmtInvLei>549300GU2GN08QHBDN61</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
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        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class Z" sharesOutstandingClassId="C000027324" sharesOutstandingTickerSymbol="TSCIX"/>
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        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
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        <securityLendings>
          <securityLending>
            <securitiesAgentName>The Bank of New York Mellon</securitiesAgentName>
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            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
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                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A" idemnityProviderRssdId="N/A"/>
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              <didIndemnificationRights>N</didIndemnificationRights>
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          <collateralManager collateralManagerName="N/A" collateralManagerLei="N/A" collateralManagerRssdId="N/A" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
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        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
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          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
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        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
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        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
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          <investmentAdviser>
            <investmentAdviserName>AMG Funds LLC</investmentAdviserName>
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          <subAdviser>
            <subAdviserName>TimesSquare Capital Management LLC</subAdviserName>
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            <transferAgentName>BNY Mellon Investment Servicing (US) Inc.</transferAgentName>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
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          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
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            <shareholderServiceAgentName>BNY Mellon Investment Servicing (US) Inc.</shareholderServiceAgentName>
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            <adminName>AMG Funds LLC</adminName>
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          <broker>
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        <aggregateCommission>152894.93000000</aggregateCommission>
        <principalAggregatePurchase>0.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
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        <liquidityClassifications>
          <liquidityClassificationService>
            <liquidityName>Hedgemark Risk Analytics, LLC</liquidityName>
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        <mgmtInvFundName>AMG GW&amp;K Securitized Bond SMA Shares</mgmtInvFundName>
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            <securitiesAgentName>BNY Mellon</securitiesAgentName>
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        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
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          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
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        <investmentAdvisers>
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            <pricingServiceName>LSEG US FIN CORP.</pricingServiceName>
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        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>119408709.50000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <interfundBorrowingDetails isInterfundBorrowing="Y">
          <interfundBorrowing interfundBorrowingLoanAverage="1213263.00000000" interfundBorrowingDaysOutstanding="1"/>
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        <isSwingPricing>N</isSwingPricing>
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          <liquidityClassificationService>
            <liquidityName>Hedgemark Risk Analytics, LLC</liquidityName>
            <liquidityLei>254900YMJ12SZ0OVDW49</liquidityLei>
            <liquidityStateCountry liquidityCountry="US" liquidityState="US-DE"/>
            <isAffiliatedPerson>N</isAffiliatedPerson>
            <assetClassType>Short-term investment vehicle</assetClassType>
            <assetClassType>ABS-mortgage backed security</assetClassType>
            <assetClassType>ABS-collateralized bond/debt obligation</assetClassType>
            <assetClassType>Debt</assetClassType>
            <assetClassType>ABS-other</assetClassType>
            <assetClassType>Repurchase agreement</assetClassType>
          </liquidityClassificationService>
        </liquidityClassifications>
        <isLiquidityHiredTerminated>Y</isLiquidityHiredTerminated>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
    </attachmentsTab>
    <signature registrantSignedName="AMG Funds" signedDate="2026-03-16" signature="Thomas Disbrow" title="Principal Financial Officer"/>
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</edgarSubmission>
