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You can also request this information by contacting us at 800.548.4539. https://wealth.amg.com/literature 800.548.4539 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt;">Fund Expenses</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41); margin-bottom: 10pt;">What were the Fund costs for the last six months?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);">(Based on a hypothetical $10,000 investment)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; text-align: left; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; width: 40%; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; width: 25%; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">AMG GW&amp;K ESG Bond Fund<br/>(Class N/MGFIX)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.68<span>%</span></td> </tr> </table> 34 0.0068 <div style="font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt; margin-top: 10pt;">Key Fund Statistics (as of<span style="white-space: nowrap;"> </span>June 30, 2026)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>313,740,586</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;">183</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Net advisory fees paid</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>299,878</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;">8<span>%</span></td> </tr> </table> 313740586 183 299878 0.08 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt;">Graphical Representation of Holdings (as of June 30, 2026)</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41); margin-bottom: 10pt;">Top ten holdings and portfolio breakdown are shown as a percentage of net assets of the Fund and ratings are shown as a percentage of total long-term investments of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Top Ten Holdings</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 2.250%, 05/15/41</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 3.125%, 05/15/48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 08/01/49</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 02/01/47</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.9<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 02/01/35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.8<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 4.000%, 06/01/48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.8<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 3.625%, 02/15/53</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.7<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 5.500%, 11/01/52</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 4.000%, 07/01/44</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FHLMC, 3.000%, 11/01/49</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 3pt;">Top Ten as a Group</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 3pt 12pt 3pt 3pt;">19.5<span>%</span></td> </tr> </table> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Portfolio Breakdown</b></div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g114750chartimages_12149454.jpg" style="max-width: 166pt; width: 172.8pt;"/> </div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Ratings</b></div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);"> <img alt="Graphical Representation - Allocation 2 Chart" src="g114750chartimages_12149459.jpg" style="max-width: 166pt; width: 172.8pt;"/> </div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Top Ten Holdings</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 2.250%, 05/15/41</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 3.125%, 05/15/48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 08/01/49</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 02/01/47</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.9<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 02/01/35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.8<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 4.000%, 06/01/48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.8<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 3.625%, 02/15/53</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.7<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 5.500%, 11/01/52</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 4.000%, 07/01/44</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FHLMC, 3.000%, 11/01/49</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 3pt;">Top Ten as a Group</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 3pt 12pt 3pt 3pt;">19.5<span>%</span></td> </tr> </table> 0.036 0.026 0.022 0.019 0.018 0.018 0.017 0.015 0.013 0.011 0.195 AMG GW&K ESG Bond Fund Class I MGBIX This semi-annual shareholder report contains important information about AMG GW&amp;K ESG Bond Fund (the “Fund”) for the period of January 1, 2026 to June 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(1, 146, 113); font-family: 'arial'; font-size: 10pt; font-weight: normal;">https://wealth.amg.com/literature</span>. You can also request this information by contacting us at 800.548.4539. https://wealth.amg.com/literature 800.548.4539 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt;">Fund Expenses</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41); margin-bottom: 10pt;">What were the Fund costs for the last six months?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);">(Based on a hypothetical $10,000 investment)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; text-align: left; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; width: 40%; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; width: 25%; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">AMG GW&amp;K ESG Bond Fund<br/>(Class I/MGBIX)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>24</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.48<span>%</span></td> </tr> </table> 24 0.0048 <div style="font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt; margin-top: 10pt;">Key Fund Statistics (as of<span style="white-space: nowrap;"> </span>June 30, 2026)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>313,740,586</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;">183</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Net advisory fees paid</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>299,878</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;">8<span>%</span></td> </tr> </table> 313740586 183 299878 0.08 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt;">Graphical Representation of Holdings (as of June 30, 2026)</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41); margin-bottom: 10pt;">Top ten holdings and portfolio breakdown are shown as a percentage of net assets of the Fund and ratings are shown as a percentage of total long-term investments of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Top Ten Holdings</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 2.250%, 05/15/41</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 3.125%, 05/15/48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 08/01/49</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 02/01/47</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.9<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 02/01/35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.8<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 4.000%, 06/01/48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.8<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 3.625%, 02/15/53</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.7<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 5.500%, 11/01/52</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 4.000%, 07/01/44</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FHLMC, 3.000%, 11/01/49</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 3pt;">Top Ten as a Group</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 3pt 12pt 3pt 3pt;">19.5<span>%</span></td> </tr> </table> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Portfolio Breakdown</b></div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g114750chartimages_12149456.jpg" style="max-width: 166pt; width: 172.8pt;"/> </div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Ratings</b></div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);"> <img alt="Graphical Representation - Allocation 2 Chart" src="g114750chartimages_12149457.jpg" style="max-width: 166pt; width: 172.8pt;"/> </div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Top Ten Holdings</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 2.250%, 05/15/41</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 3.125%, 05/15/48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 08/01/49</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 02/01/47</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.9<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 3.500%, 02/01/35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.8<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 4.000%, 06/01/48</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.8<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">U.S. Treasury Bonds, 3.625%, 02/15/53</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.7<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 5.500%, 11/01/52</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FNMA, 4.000%, 07/01/44</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">FHLMC, 3.000%, 11/01/49</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">1.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 3pt;">Top Ten as a Group</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 3pt 12pt 3pt 3pt;">19.5<span>%</span></td> </tr> </table> 0.036 0.026 0.022 0.019 0.018 0.018 0.017 0.015 0.013 0.011 0.195 AMG Veritas Asia Pacific Fund Class N MGSEX This semi-annual shareholder report contains important information about AMG Veritas Asia Pacific Fund (the “Fund”) for the period of January 1, 2026 to June 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(1, 146, 113); font-family: 'arial'; font-size: 10pt; font-weight: normal;">https://wealth.amg.com/literature</span>. You can also request this information by contacting us at 800.548.4539. https://wealth.amg.com/literature 800.548.4539 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt;">Fund Expenses</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41); margin-bottom: 10pt;">What were the Fund costs for the last six months?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);">(Based on a hypothetical $10,000 investment)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; text-align: left; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; width: 40%; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; width: 25%; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">AMG Veritas Asia Pacific Fund<br/>(Class N/MGSEX)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>72</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">1.17<span>%</span></td> </tr> </table> 72 0.0117 <div style="font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt; margin-top: 10pt;">Key Fund Statistics (as of<span style="white-space: nowrap;"> </span>June 30, 2026)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>153,843,019</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;">32</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Net advisory fees paid</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>385,146</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;">108<span>%</span></td> </tr> </table> 153843019 32 385146 1.08 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt;">Graphical Representation of Holdings (as of June 30, 2026)</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41); margin-bottom: 10pt;">Top ten holdings and portfolio breakdown are shown as a percentage of net assets of the Fund and country allocation is shown as a percentage of total long-term investments of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Top Ten Holdings</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Samsung Electronics Co., Ltd. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">13.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">11.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Delta Electronics, Inc. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">8.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">MediaTek, Inc. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.4<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">SK hynix, Inc. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Accton Technology Corp. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Elite Material Co., Ltd. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Murata Manufacturing Co., Ltd. (Japan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">HD Hyundai Heavy Industries Co., Ltd. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Unimicron Technology Corp. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 3pt;">Top Ten as a Group</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 3pt 12pt 3pt 3pt;">57.9<span>%</span></td> </tr> </table> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Portfolio Breakdown</b></div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g114750chartimages_12149455.jpg" style="max-width: 166pt; width: 172.8pt;"/> </div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Country Allocation</b></div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);"> <img alt="Graphical Representation - Allocation 2 Chart" src="g114750chartimages_12149458.jpg" style="max-width: 166pt; width: 172.8pt;"/> </div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Top Ten Holdings</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Samsung Electronics Co., Ltd. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">13.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">11.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Delta Electronics, Inc. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">8.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">MediaTek, Inc. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.4<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">SK hynix, Inc. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Accton Technology Corp. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Elite Material Co., Ltd. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Murata Manufacturing Co., Ltd. (Japan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">HD Hyundai Heavy Industries Co., Ltd. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Unimicron Technology Corp. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 3pt;">Top Ten as a Group</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 3pt 12pt 3pt 3pt;">57.9<span>%</span></td> </tr> </table> 0.132 0.113 0.082 0.044 0.041 0.040 0.036 0.035 0.031 0.025 0.579 AMG Veritas Asia Pacific Fund Class I MSEIX This semi-annual shareholder report contains important information about AMG Veritas Asia Pacific Fund (the “Fund”) for the period of January 1, 2026 to June 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(1, 146, 113); font-family: 'arial'; font-size: 10pt; font-weight: normal;">https://wealth.amg.com/literature</span>. You can also request this information by contacting us at 800.548.4539. https://wealth.amg.com/literature 800.548.4539 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt;">Fund Expenses</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41); margin-bottom: 10pt;">What were the Fund costs for the last six months?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);">(Based on a hypothetical $10,000 investment)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 10pt; text-align: left; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; width: 40%; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); vertical-align: bottom; width: 25%; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">AMG Veritas Asia Pacific Fund<br/>(Class I/MSEIX)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>57</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">0.93<span>%</span></td> </tr> </table> 57 0.0093 <div style="font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt; margin-top: 10pt;">Key Fund Statistics (as of<span style="white-space: nowrap;"> </span>June 30, 2026)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>153,843,019</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;">32</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Net advisory fees paid</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>385,146</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; color: rgb(40, 40, 41); font-size: 9pt; width: 60%; text-align: left; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate as of the end of the reporting period</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 9pt; padding: 6pt 10pt 3pt 10pt;">108<span>%</span></td> </tr> </table> 153843019 32 385146 1.08 <div style="margin-top: 0px; font-family: 'arial'; color: rgb(0, 80, 64); font-size: 11pt; font-weight: bold; margin-bottom: 3pt;">Graphical Representation of Holdings (as of June 30, 2026)</div> <div style="margin-top: 0px; font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41); margin-bottom: 10pt;">Top ten holdings and portfolio breakdown are shown as a percentage of net assets of the Fund and country allocation is shown as a percentage of total long-term investments of the Fund.</div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Top Ten Holdings</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Samsung Electronics Co., Ltd. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">13.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">11.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Delta Electronics, Inc. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">8.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">MediaTek, Inc. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.4<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">SK hynix, Inc. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Accton Technology Corp. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Elite Material Co., Ltd. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Murata Manufacturing Co., Ltd. (Japan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">HD Hyundai Heavy Industries Co., Ltd. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Unimicron Technology Corp. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 3pt;">Top Ten as a Group</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 3pt 12pt 3pt 3pt;">57.9<span>%</span></td> </tr> </table> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Portfolio Breakdown</b></div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);"> <img alt="Graphical Representation - Allocation 1 Chart" src="g114750chartimages_12149462.jpg" style="max-width: 166pt; width: 172.8pt;"/> </div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Country Allocation</b></div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: normal; color: rgb(40, 40, 41);"> <img alt="Graphical Representation - Allocation 2 Chart" src="g114750chartimages_12149461.jpg" style="max-width: 166pt; width: 172.8pt;"/> </div> <div style="font-family: 'arial'; font-size: 10pt; font-weight: 600; color: rgb(0, 80, 64); letter-spacing: 1.25px; text-transform: uppercase; text-align: center; border-bottom-color: rgb(0, 80, 64); border-bottom-style: solid; border-bottom-width: 1pt; padding-bottom: 5pt; margin: 5pt 0px 5pt 0px;"><b>Top Ten Holdings</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Samsung Electronics Co., Ltd. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">13.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Taiwan Semiconductor Manufacturing Co., Ltd. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">11.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Delta Electronics, Inc. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">8.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">MediaTek, Inc. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.4<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">SK hynix, Inc. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Accton Technology Corp. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">4.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Elite Material Co., Ltd. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Murata Manufacturing Co., Ltd. (Japan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">HD Hyundai Heavy Industries Co., Ltd. (South Korea)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">3.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(40, 40, 41); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 4.5pt 3pt 4.5pt 12pt;">Unimicron Technology Corp. (Taiwan)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 4.5pt 12pt 4.5pt 3pt;">2.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); text-align: left; font-size: 8pt; padding: 3pt;">Top Ten as a Group</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-weight: normal; color: rgb(40, 40, 41); font-size: 8pt; padding: 3pt 12pt 3pt 3pt;">57.9<span>%</span></td> </tr> </table> 0.132 0.113 0.082 0.044 0.041 0.040 0.036 0.035 0.031 0.025 0.579