AMG River Road Mid Cap Value Fund
AMG River Road Small Cap Value Fund
Small-cap Value
Dec 2024 → Dec 2024
Our archive holds 1 letter from this strategy, behind 1 investment thesis and positions in 12 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
Among the five positions eliminated, one was a takeover (NAPA), two were exited due to approaching and/or achieving their assessed valuations (MDU, NMIH), and two were exited as losers due to failed investment thesis (WKC, NVST).
The two largest net increases (market cap and conviction as of month end are in parenthesis) were Janus International Group Inc. (JBI, $1.0B market cap, 3.0 conviction) and LGI Homes Inc. (LGIH, $2.1B market cap, 3.5 conviction).
we exited ATSG for better risk/reward opportunities shortly after quarter-end.
We trimmed the position during the quarter.
TLN was trimmed as it approached/exceeded its assessed valuation and ATSG was trimmed following a takeover bid.
We trimmed the position.
Among the five positions eliminated, one was a takeover (NAPA), two were exited due to approaching and/or achieving their assessed valuations (MDU, NMIH), and two were exited as losers due to failed investment thesis (WKC, NVST).
The largest new position added during the quarter was GXO Logistics Inc. (GXO).
We trimmed the position.
Positions eliminated in Q4 were (market caps as of month end after sale and convictions at the time of sale are in parenthesis): luxury wine producer Duckhorn Portfolio Inc. (NAPA, $1.6B market cap, 3.5 conviction),