Mine does, but I have to load the AMAX too long for it to cycle. It *can* be loaded short enough, but just like in an AR, you're giving up a lot of powder space and you don't get to seat as true as when you seat it properly, a little farther out. When seated at mag length, the case mouth actually slightly overhangs the ogive, not pretty...
Better bullets for it from the Hornady line are the 75gr BTHP, the 68gr BTHP, and the 60gr VMAX. This gun will shoot damn near anything well as you can tune it to the load, I'm personally just going to stick with 68's I think, good velocity and decent BC's. For the ranges I shoot a short barreled semi at (max'ish 700), they're perfect.