NPORT-EX 2 8926720AMG09302022.htm
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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