AMG River Road Mid Cap Value Fund
AMG River Road Focused Absolute Value Fund
Value
Jun 2025 → Jun 2025
Our archive holds 1 letter from this strategy, behind 1 investment thesis and positions in 15 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of AMG River Road Mid Cap Value Fund for every strategy.
What it bought and sold
FAV exited CMCSA to initiate a position in CACI, which is discussed above
New positions include the following (market caps and convictions as of the month end after purchase are in parenthesis): convenience store operator Murphy USA, Inc. (MUSA, $9.3B market cap, 2.0 conviction), global manufacturer of medical devices Smith & Nephew plc Sponsored ADR (SNN, $12.7B, 3.0), defense contractor CACI International Inc. (Cl A) (CACI, $7.5B, 3.0), and third-party logistics provider GXO Logistics, Inc. (GXO, $4.7B, 3.0)
New positions include the following (market caps and convictions as of the month end after purchase are in parenthesis): convenience store operator Murphy USA, Inc. (MUSA, $9.3B market cap, 2.0 conviction), global manufacturer of medical devices Smith & Nephew plc Sponsored ADR (SNN, $12.7B, 3.0), defense contractor CACI International Inc. (Cl A) (CACI, $7.5B, 3.0), and third-party logistics provider GXO Logistics, Inc. (GXO, $4.7B, 3.0)
New positions include the following (market caps and convictions as of the month end after purchase are in parenthesis): convenience store operator Murphy USA, Inc. (MUSA, $9.3B market cap, 2.0 conviction), global manufacturer of medical devices Smith & Nephew plc Sponsored ADR (SNN, $12.7B, 3.0), defense contractor CACI International Inc. (Cl A) (CACI, $7.5B, 3.0), and third-party logistics provider GXO Logistics, Inc. (GXO, $4.7B, 3.0)
Exposure to small caps increased 452 bps, driven by the initiation of CACI, GXO, and Murphy USA, Inc. (MUSA), partially offset by the exit of independent power producer Talen Energy Corporation (TLN).
We also exited shares of Millrose Properties Inc. (Cl A) (MRP), which we received as a spin-off from Lennar Corporation (Cl A) (LEN).
New positions include the following (market caps and convictions as of the month end after purchase are in parenthesis): convenience store operator Murphy USA, Inc. (MUSA, $9.3B market cap, 2.0 conviction), global manufacturer of medical devices Smith & Nephew plc Sponsored ADR (SNN, $12.7B, 3.0), defense contractor CACI International Inc. (Cl A) (CACI, $7.5B, 3.0), and third-party logistics provider GXO Logistics, Inc. (GXO, $4.7B, 3.0)