AMG River Road Mid Cap Value Fund
AMG River Road Large Cap Value Select Fund
Large-cap Value
Dec 2024 → Jun 2025
Our archive holds 2 letters from this strategy, behind 6 investment theses and positions in 20 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in 2 years · follow all of AMG River Road Mid Cap Value Fund for every strategy.
What it bought and sold
We received MRP from current holding Lennar Corporation (Cl A) (LEN) as a spin-off and decided to exit the stock because its business model is vastly different than LEN.
We sold Starbucks Corporation (SBUX, 2.5 conviction) during the quarter as its price exceeded our assessed value.
We eliminated Vail Resorts, Inc. (MTN, 3.0 conviction) during the quarter, as we lost confidence in the management team and the enduring qualities of the business.
Another new position in Q1 was Restaurant Brands International Inc. (QSR, 2.5 conviction).
We eliminated United Parcel Service, Inc. (Cl B) (UPS, 3.0 conviction) during the quarter as the investment thesis failed.
During the quarter, we eliminated Nestlé S.A. Sponsored ADR (NSRGY, 2.0 conviction) as the company struggled post-COVID to align rising volumes and prices.
Another new position in Q1 was Restaurant Brands International Inc. (QSR, 2.5 conviction).
Also held
Its investment theses
- GE Healthcare Technologies, Inc.Jun 2025GE Healthcare Technologies, Inc. is a global leader in medical technology with a strong market position, diverse revenue streams, and a solid financial foundation poised for sustainable growth in expanding healthcare markets.
- Restaurant Brands International Inc.Jun 2025Restaurant Brands International Inc. is a leading quick-service restaurant company with a capital-light franchise model and strong market positions, particularly in Canada, offering significant global growth potential.
- AerCap Holdings N.V.Dec 2024AerCap Holdings N.V. is the leading global aviation leasing company, strategically positioned to benefit from a strong demand in air travel amidst supply chain challenges, while maintaining a solid financial foundation and effective capital allocation.
- Becton, Dickinson and CompanyDec 2024Becton, Dickinson and Company is a diversified medical technology leader with a strong focus on recurring revenue, high growth markets, and a solid history of dividend increases, despite recent underperformance and elevated leverage.
- CSX Corp.Dec 2024CSX Corp. is a leading Class 1 railroad with strong pricing power, robust cash flow, and potential for growth in merchandise volumes, positioned to benefit from market trends and shareholder returns.
- LVMHDec 2024LVMH Moet Hennessy Louis Vuitton SE is a resilient global luxury goods company trading at five-year valuation lows, largely due to China market concerns, yet maintains strong financials and a solid growth trajectory in its key fashion and leather goods segment.