AMG River Road Small-Mid Cap Value Fund Q3 2025 Commentary
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Affiliated Managers Group8 FollowersFollow5ShareSaveCommentsSummaryBoth stock selection and sector allocation had a negative impact on the Fund’s relative results during the quarter.The sectors with the highest contribution to relative return in Q3 were utilities (+33 bps) and real estate (+28 bps).The sectors with the lowest contribution to relative return in Q3 were industrials (-235 bps) and consumer discretionary (-142 bps). Rachata Amnataree/iStock via Getty Images RIVER ROAD ASSET MANAGEMENT Headquarters Louisville, KY Founded 2005 Specialization Absolute value approach Portfolio Managers R. Andrew Beck J.
Justin Akin Todd Mayberry 1 Top Ten Holdings2 Holding % of Net Assets McGrath This article was written byAffiliated Managers Group8 FollowersFollowAMG is a strategic partner to, and long-term investor in, leading independent investment firms globally. We provide the advantages of partnership to magnify our Affiliates’ success, while preserving their autonomy and independence. We leverage our capabilities and insight, offering strategic, business development, operational, and capital support to our Affiliates, to create exceptional value for their clients and our shareholders. With AMG, Affiliates are able to expand their reach, diversify their business, and achieve further success. When Affiliates choose AMG as a partner, they are choosing independence. Not only do our partners value their autonomy, their clients also recognize that an independent firm’s entrepreneurial and investment-centric culture is instrumental to generating differentiated long-term returns. Having operated our distinct partnership model for 30 years, our entrepreneurial spirit, ownership mindset, and focus on excellence are deeply rooted. Note: This account is not managed or monitored by AMG, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use AMG's official channels.Quick InsightsWhat drove the River Road Fund's underperformance in Q3?Both stock selection and sector allocation detracted from relative results, with industrials and consumer discretionary sectors posting the largest negative contributions.How is the Fund currently positioned by sector and cash allocation?The Fund is meaningfully overweight industrials and consumer staples, underweight real estate and materials, and held 4.7% cash at quarter-end, up from 3.5%.What is the forward outlook for the Fund given current market conditions?The outlook is moderately positive, citing improved portfolio valuations, solid earnings, economic growth, and coordinated monetary and fiscal stimulus despite elevated market valuations.Recommended For You