AMG Yacktman International Fund - Class N YFSNX

AMG Yacktman Global will change its name to AMG Yacktman International to better reflect its more recent focus on foreign stocks. The portfolio’s stake in US stocks has steadily declined for years, now sitting near its nadir at 9% of assets as of June 30, 2026. The managers plan to invest new capital primarily in non-US stocks. Aside from a more explicit focus on international equities, there are no other planned changes to the strategy or investment process, which retains plenty of leeway to find opportunities in various corners of foreign markets. Accordingly, the strategy’s High Process rating and overall Morningstar Medalist Ratings remain unchanged.