Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class I N I Z NAV | as of 07/17/2025 $8.88 +$0.17 (+1.95%) Morningstar | Style Box V B G L M S Morningstar Rating Rated against 527 Small Growth funds as of 06/30/2025 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 09/24/1997 to 06/30/2025 = $101,610.22 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. SEE ALL PERFORMANCE The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Read Important Investment Disclosures Objective Seeks long-term capital appreciation by investing in a portfolio of small cap stocks. Why Consider May be appropriate for investors looking to gain exposure to small cap stocks Manager brings a long history of disciplined investing in small and mid cap stocks, emphasizing fundamental research and bottom-up stock selection Targets companies with solid business models with strong earnings power while selling at reasonable valuations Documents Fact Sheet Commentary Summary Prospectus Prospectus SAI Annual Report - Class N Semi-Annual Report - Class N Annual Report - Class I Semi-Annual Report - Class I Annual Report - Class Z Semi-Annual Report - Class Z Annual Financial Statements and Other Information Semi-Annual Financial Statements and Other Information Q1 Holdings Q3 Holdings All Holdings 2024 Distributions View All Documents Investment Style AMG Frontier Small Cap Growth Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective AMG Frontier Small Cap Growth Fund is categorized as Small-Growth. It invests in small-cap companies with high risk. Morningstar Ratings Risk-adjusted returns as of 06/30/2025 Overall Rating (of 527) 3 Years (of 527) 5 Years (of 512) 10 Years (of 400) Category Small Growth Read Important Investment Disclosures James A. Colgan PARTNER, PORTFOLIO MANAGER Jim is a Portfolio Manager for the Frontier Small Cap strategy and an equity partner in the firm. He also holds a leadership position as a member of Frontier’s Management Advisory Committee. Prior to joining Frontier in 1998, he served as Manager, Workstation Business Planning and Strategy for Digital Equipment Corporation. Prior to that, he was with United Technologies Corporation – Pratt and Whitney, as a Program Manager, during which time he was an MIT fellow. He received a B.S. from the University of Connecticut, an M.S. from the University of Massachusetts, and an M.B.A. and M.S. from Massachusetts Institute of Technology. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end, please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the Fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods shorter than one year are not annualized. Expense Ratios Gross Expense Ratio: 1.23% Net Expense Ratio: 0.99% Expense Cap Expiration Date: 03/01/2026 The Fund’s Investment Manager has contractually agreed, through 03/01/2026, to limit fund operating expenses. The net expense ratio reflects this limitation, while the gross expense ratio does not. The Fund has no up-front sales charges or deferred sales charges. Please refer to the Fund’s Prospectus for additional information on the Fund’s expenses. Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 16, 2024 $0.810500 $0.434500 — $0.376000 Dec 14, 2023 $0.098100 $0.098100 — — Dec 15, 2021 $3.912500 — $1.888300 $2.024200 Dec 16, 2020 $0.392200 — $0.015600 $0.376600 Dec 16, 2019 $0.723300 — — $0.723300 Dec 27, 2018 $4.050300 — $1.955200 $2.095100 Dec 27, 2017 $2.996200 — $0.709000 $2.287200 Dec 27, 2016 $0.048300 — — $0.048300 Dec 28, 2015 $3.043900 — $0.056500 $2.987400 Dec 26, 2014 $11.760100 — $2.448900 $9.311200 Dec 26, 2013 $3.013600 — $1.215500 $1.798100 Dec 15, 2000 $1.684420 — $0.074080 $1.610340 Oct 25, 2000 $1.280000 — $1.280000 — Dec 15, 1999 $0.105800 — $0.105800 — Oct 26, 1999 $0.600000 — $0.600000 — Dec 15, 1997 $0.002670 $0.002670 — — Oct 31, 1997 $0.024000 $0.015000 $0.009000 — From: To: Risk & Return Statistics As of: 06/30/2025 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -0.72 4.36 2.57 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 23.59 23.02 23.33 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.26 0.37 0.32 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 105.24 107.79 107.55 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 110.40 94.89 99.72 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.01 0.98 1.05 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 92.19 89.83 91.52 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 6.69 7.42 6.89 View All Characteristics & Statistics All Characteristics & Statistics AMG Frontier Small Cap Growth Fund (MSSCX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell 2000® Growth Index Fund Assets (Mil.$) $87 Number of Holdings 119 1,099 Weighted Avg. Market Cap (Mil.$) $6,732 $4,219 Median Market Cap (Mil.$) $6,001 $1,182 Weighted Avg. P/E (1-yr Forward EPS) 20.57 20.70 Weighted Avg. P/E (Trailing EPS) 26.59 25.33 PEG Ratio 1.10 1.34 Weighted Avg. P/B 2.46 4.12 EPS Growth (Trailing 3-yr %) 1.05% 14.33% EPS Growth (Trailing 5-yr %) 7.57% 18.46% Forward EPS Growth (1-yr %) 11.10% 6.34% Forward EPS Growth (Long Term %) 15.63% 12.10% Revenue Growth (Trailing 5-yr %) 16.82% 16.17% Return on Equity 3.37% 3.45% Weighted Avg. Dividend Yield 0.69% 0.56% Debt to Equity 79.58 73.17 Trailing 12-Months Portfolio Turnover 308.58% As of: 06/30/2025 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -0.72 4.36 2.57 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 23.59 23.02 23.33 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.26 0.37 0.32 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 105.24 107.79 107.55 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 110.40 94.89 99.72 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.01 0.98 1.05 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 92.19 89.83 91.52 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 6.69 7.42 6.89 Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -0.13 0.55 0.36 Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. 6.10 8.75 7.21 Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -23.03 -28.18 -31.70 As of: 06/30/2025 Market Cap Fund Russell 2000® Growth Index Market Cap ($mm) 0 - 1,000 6.63% 8.70% Market Cap ($mm) 1,000 - 1,500 5.20% 7.03% Market Cap ($mm) 1,500 - 2,500 5.99% 14.04% Market Cap ($mm) 2,500 - 5,000 21.19% 40.79% Market Cap ($mm) 5,000 - 10,000 41.46% 25.51% Market Cap ($mm) 10,000 - 25,000 19.16% 3.93% Market Cap ($mm) 25,000 - 50,000 0.37% 0.00% Market Cap ($mm) 50,000 - 100,000 0.00% 0.00% Market Cap ($mm) 100,000 - 200,000 0.00% 0.00% Market Cap ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 06/30/2025 Valuation Characteristics Fund Russell 2000® Growth Index P/E 0-10 1.91% 2.10% P/E 10-15 9.59% 6.27% P/E 15-20 6.93% 7.71% P/E 20-25 5.91% 11.72% P/E 25-Above 55.19% 40.27% P/E – NA 20.48% 31.93% As of: 06/30/2025 Growth Characteristics Fund Russell 2000® Growth Index EPS Growth (Trailing 3-yr %) - Negative 30.55% 15.87% EPS Growth (Trailing 3-yr %) 0 - 5 3.42% 4.01% EPS Growth (Trailing 3-yr %) 5 - 10 4.27% 1.73% EPS Growth (Trailing 3-yr %) 10 - 15 3.17% 4.97% EPS Growth (Trailing 3-yr %) 15 - 20 0.16% 2.86% EPS Growth (Trailing 3-yr %) Above 20 18.24% 24.99% EPS Growth (Trailing 3-yr %) - NA 40.19% 45.57% As of: 06/30/2025 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 06/30/2025 Silicon Motion Technology Corp ADR 3.21% Darling Ingredients Inc 2.61% FTAI Aviation Ltd 2.57% Amentum Holdings Inc 2.48% Mattel Inc 2.36% Life Time Group Holdings Inc 2.10% Pagaya Technologies Ltd, Class A 2.05% Sanmina Corp 2.01% Granite Construction Inc 2.01% Eagle Materials Inc 1.94% % in Top 10 Holdings 23.34% View Holding Details Holding Details AMG Frontier Small Cap Growth Fund (MSSCX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 06/30/2025 Silicon Motion Technology Corp ADR 3.21% Darling Ingredients Inc 2.61% FTAI Aviation Ltd 2.57% Amentum Holdings Inc 2.48% Mattel Inc 2.36% Life Time Group Holdings Inc 2.10% Pagaya Technologies Ltd, Class A 2.05% Sanmina Corp 2.01% Granite Construction Inc 2.01% Eagle Materials Inc 1.94% % in Top 10 Holdings 23.34% As of: 06/30/2025 Download All Holdings (PDF) As of: 06/30/2025 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund SIMO Silicon Motion Technology Corp ADR Information Technology S TW USD 37,359 75.17 $2,808,276 3.21% DAR Darling Ingredients Inc Consumer Staples S US USD 60,209 37.94 $2,284,329 2.61% FTAI FTAI Aviation Ltd Industrials S KY USD 19,544 115.04 $2,248,342 2.57% AMTM Amentum Holdings Inc Industrials S US USD 91,919 23.61 $2,170,208 2.48% MAT Mattel Inc Consumer Discretionary S US USD 104,467 19.72 $2,060,089 2.36% LTH Life Time Group Holdings Inc Consumer Discretionary S US USD 60,701 30.33 $1,841,061 2.10% PGY Pagaya Technologies Ltd, Class A Information Technology S US USD 83,898 21.32 $1,788,705 2.05% SANM Sanmina Corp Information Technology S US USD 17,990 97.83 $1,759,962 2.01% GVA Granite Construction Inc Industrials S US USD 18,800 93.51 $1,757,988 2.01% EXP Eagle Materials Inc Materials S US USD 8,384 202.11 $1,694,490 1.94% RRX Regal Rexnord Corp Industrials S US USD 11,096 144.96 $1,608,476 1.84% ENTG Entegris Inc Information Technology S US USD 19,708 80.65 $1,589,450 1.82% INDI indie Semiconductor Inc, Class A Information Technology S US USD 432,587 3.56 $1,540,010 1.76% CRS Carpenter Technology Corp Materials S US USD 5,552 276.38 $1,534,462 1.75% ATI ATI Inc Industrials S US USD 17,744 86.34 $1,532,017 1.75% DLB Dolby Laboratories Inc, Class A Information Technology S US USD 20,390 74.26 $1,514,161 1.73% MKSI MKS Inc Information Technology S US USD 14,079 99.36 $1,398,889 1.60% COHR Coherent Corp Information Technology S US USD 15,578 89.21 $1,389,713 1.59% BPOP Popular Inc Financials S PR USD 12,525 110.21 $1,380,380 1.58% INSP Inspire Medical Systems Inc Health Care S US USD 9,961 129.77 $1,292,639 1.48% HXL Hexcel Corp Industrials S US USD 22,836 56.49 $1,290,006 1.47% KNX Knight-Swift Transportation Holdings Inc, Class A Industrials S US USD 28,278 44.23 $1,250,736 1.43% CG Carlyle Group Inc Financials S US USD 24,094 51.40 $1,238,432 1.42% CRDO Credo Technology Group Holding Ltd Information Technology S US USD 13,298 92.59 $1,231,262 1.41% AGCO AGCO Corp Industrials S US USD 11,682 103.16 $1,205,115 1.38% TEM Tempus AI Inc, Class A Health Care S US USD 18,474 63.54 $1,173,838 1.34% PSN Parsons Corp Industrials S US USD 15,943 71.77 $1,144,229 1.31% STRL Sterling Infrastructure Inc Industrials S US USD 4,870 230.73 $1,123,655 1.28% PLNT Planet Fitness Inc, Class A Consumer Discretionary S US USD 10,289 109.05 $1,122,015 1.28% ALK Alaska Air Group Inc Industrials S US USD 22,573 49.48 $1,116,912 1.28% DBRG DigitalBridge Group Inc, Class A Financials S US USD 106,617 10.35 $1,103,486 1.26% SNCY Sun Country Airlines Holdings Inc Industrials S US USD 93,054 11.75 $1,093,385 1.25% MDB MongoDB Inc, Class A Information Technology S US USD 4,887 209.99 $1,026,221 1.17% EPRT Essential Properties Realty Trust Inc Real Estate S US USD 30,556 31.91 $975,042 1.11% GTLS Chart Industries Inc Industrials S US USD 5,797 164.65 $954,476 1.09% MGNI Magnite Inc [MGNI] Consumer Discretionary S US USD 37,348 24.12 $900,834 1.03% CWK Cushman & Wakefield PLC Real Estate S US USD 78,363 11.07 $867,478 0.99% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 7,825 107.83 $843,770 0.96% UCTT Ultra Clean Holdings Inc Information Technology S US USD 36,602 22.57 $826,107 0.94% ADC Agree Realty Corp Real Estate S US USD 10,834 73.06 $791,532 0.90% BFAM Bright Horizons Family Solutions Inc, Class A Consumer Discretionary S US USD 6,318 123.59 $780,842 0.89% CZR Caesars Entertainment Inc Consumer Discretionary S US USD 27,459 28.39 $779,561 0.89% TKR Timken Co Industrials S US USD 10,678 72.55 $774,689 0.89% PRCT PROCEPT BioRobotics Corp Health Care S US USD 13,093 57.60 $754,157 0.86% BILL BILL Holdings Inc Information Technology S US USD 15,661 46.26 $724,478 0.83% ERO ERO Copper Corp Materials S CA USD 42,374 16.85 $714,002 0.82% LAD Lithia Motors Inc, Class A Consumer Discretionary S US USD 2,091 337.82 $706,382 0.81% LSCC Lattice Semiconductor Corp Information Technology S US USD 13,754 48.99 $673,808 0.77% KYMR Kymera Therapeutics Inc Health Care S US USD 15,380 43.64 $671,183 0.77% PCOR Procore Technologies Inc Information Technology S US USD 9,754 68.42 $667,369 0.76% SILA Sila Realty Trust Inc, Class A Real Estate S US USD 27,558 23.67 $652,298 0.75% ZETA Zeta Global Holdings Corp, Class A Information Technology S US USD 42,101 15.49 $652,144 0.75% DOCN Digitalocean Holdings Inc Information Technology S US USD 22,085 28.56 $630,748 0.72% SIGI Selective Insurance Group Inc Financials S US USD 7,257 86.65 $628,819 0.72% LCII LCI Industries Consumer Discretionary S US USD 6,548 91.19 $597,112 0.68% ODD Oddity Tech Ltd, Class A Consumer Staples S IL USD 7,883 75.47 $594,930 0.68% FARO FARO Technologies Inc Information Technology S US USD 12,646 43.92 $555,412 0.64% LRN Stride Inc Consumer Discretionary S US USD 3,647 145.19 $529,508 0.61% WEAV Weave Communications Inc Information Technology S US USD 63,433 8.32 $527,763 0.60% ALAB Astera Labs Inc Information Technology S US USD 5,817 90.42 $525,973 0.60% FIP FTAI Infrastructure Inc Industrials S US USD 82,296 6.17 $507,766 0.58% RARE Ultragenyx Pharmaceutical Inc Health Care S US USD 13,892 36.36 $505,113 0.58% RXO RXO Inc Industrials S US USD 31,071 15.72 $488,436 0.56% BBIO Bridgebio Pharma Inc Health Care S US USD 11,227 43.18 $484,782 0.55% EOLS Evolus Inc Health Care S US USD 52,171 9.21 $480,495 0.55% FLR Fluor Corp Industrials S US USD 9,304 51.27 $477,016 0.55% ALGM Allegro MicroSystems Inc Information Technology S US USD 13,913 34.19 $475,685 0.54% LNTH Lantheus Holdings Inc Health Care S US USD 5,756 81.86 $471,186 0.54% IRT Independence Realty Trust Inc Real Estate S US USD 25,945 17.69 $458,967 0.52% GENI Genius Sports Ltd Consumer Discretionary S GB USD 42,753 10.40 $444,631 0.51% KD Kyndryl Holdings Inc Information Technology S US USD 10,522 41.96 $441,503 0.50% RYI Ryerson Holding Corp Materials S US USD 20,054 21.57 $432,565 0.49% APGE Apogee Therapeutics Inc Health Care S US USD 9,666 43.43 $419,794 0.48% GTX Garrett Motion Inc Consumer Discretionary S CH USD 39,361 10.51 $413,684 0.47% VKTX Viking Therapeutics Inc Health Care S US USD 15,157 26.50 $401,661 0.46% ACVA ACV Auctions Inc, Class A Industrials S US USD 24,131 16.22 $391,405 0.45% ATMU Atmus Filtration Technologies Inc Industrials S US USD 10,611 36.42 $386,453 0.44% HL Hecla Mining Co Materials S US USD 63,472 5.99 $380,197 0.43% STAG STAG Industrial Inc Real Estate S US USD 9,421 36.28 $341,794 0.39% MOD Modine Manufacturing Co Consumer Discretionary S US USD 3,366 98.50 $331,551 0.38% MPWR Monolithic Power Systems Inc Information Technology S US USD 424 731.38 $310,105 0.35% INSW International Seaways Inc Energy S US USD 8,458 36.48 $308,548 0.35% STVN Stevanato Group SpA Health Care S IT USD 12,351 24.43 $301,735 0.34% CFLT Confluent Inc, Class A Information Technology S US USD 11,701 24.93 $291,706 0.33% SHLS Shoals Technologies Group Inc, Class A Industrials S US USD 67,457 4.25 $286,692 0.33% RSI Rush Street Interactive Inc, Class A Consumer Discretionary S US USD 19,029 14.90 $283,532 0.32% NVCR Novocure Ltd Health Care S JE USD 15,855 17.80 $282,219 0.32% SG Sweetgreen Inc, Class A Consumer Discretionary S US USD 18,458 14.88 $274,655 0.31% SAIA Saia Inc Industrials S US USD 957 273.99 $262,208 0.30% VCEL Vericel Corp Health Care S US USD 5,625 42.55 $239,344 0.27% DYN Dyne Therapeutics Inc Health Care S US USD 24,712 9.52 $235,258 0.27% BLDR Builders FirstSource Inc Industrials S US USD 1,772 116.69 $206,775 0.24% TDW Tidewater Inc Energy S US USD 3,912 46.13 $180,461 0.21% MXL MaxLinear Inc, Class A Information Technology S US USD 11,949 14.21 $169,795 0.19% TTI TETRA Technologies Inc Energy S US USD 48,641 3.36 $163,434 0.19% KTOS Kratos Defense & Security Solutions Inc Industrials S US USD 3,487 46.45 $161,971 0.19% UTHR United Therapeutics Corp Health Care S US USD 516 287.35 $148,273 0.17% TOST Toast Inc, Class A Financials S US USD 3,162 44.29 $140,045 0.16% PSTG Pure Storage Inc, Class A Information Technology S US USD 2,331 57.58 $134,219 0.15% NMIH NMI Holdings Inc, Class A Financials S US USD 3,144 42.19 $132,645 0.15% BWXT BWX Technologies Inc Industrials S US USD 917 144.06 $132,103 0.15% MP MP Materials Corp Materials S US USD 3,951 33.27 $131,450 0.15% CACI CACI International Inc, Class A Industrials S US USD 252 476.70 $120,128 0.14% HLIO Helios Technologies Inc Industrials S US USD 3,575 33.37 $119,298 0.14% NTRA Natera Inc Health Care S US USD 696 168.94 $117,582 0.13% PR Permian Resources Corp, Class A Energy S US USD 8,520 13.62 $116,042 0.13% SYM Symbotic Inc, Class A Industrials S US USD 2,446 38.85 $95,027 0.11% AXSM Axsome Therapeutics Inc Health Care S US USD 904 104.39 $94,369 0.11% BPMC Blueprint Medicines Corp Health Care S US USD 678 128.18 $86,906 0.10% TMDX TransMedics Group Inc Health Care S US USD 646 134.01 $86,570 0.10% INSM Insmed Inc Health Care S US USD 850 100.64 $85,544 0.10% IRTC iRhythm Technologies Inc Health Care S US USD 454 153.96 $69,898 0.08% ENVX Enovix Corp Industrials S US USD 6,252 10.34 $64,646 0.07% OKTA Okta Inc, Class A Information Technology S US USD 140 99.97 $13,996 0.02% GWRE Guidewire Software Inc Information Technology S US USD 53 235.45 $12,479 0.01% PODD Insulet Corp Health Care S US USD 37 314.18 $11,625 0.01% BURL Burlington Stores Inc Consumer Discretionary S US USD 41 232.64 $9,538 0.01% DOCU DocuSign Inc, Class A Information Technology S US USD 116 77.89 $9,035 0.01% ESTC Elastic NV Information Technology S US USD 106 84.33 $8,939 0.01% Cash & Equivalents Cash C US USD - - $3,217,793 3.68% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Pagaya Technologies Ltd, Class A 1 2.68% 103.44% ATI Inc 2 2.32% 65.94% Silicon Motion Technology Corp ADR 3 2.16% 50.08% Carpenter Technology Corp 4 1.92% 52.66% indie Semiconductor Inc, Class A 5 1.34% 74.94% Credo Technology Group Holding Ltd 6 0.71% 130.55% Tempus AI Inc, Class A 7 1.90% 31.72% Sterling Infrastructure Inc 8 0.88% 74.25% Amentum Holdings Inc 9 1.88% 29.73% Sanmina Corp 10 1.50% 28.42% As of: 06/30/2025 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Sarepta Therapeutics, Inc. 20 0.23% -71.04% Dolby Laboratories Inc, Class A 19 2.35% -7.26% Evolus Inc 18 0.68% -23.44% Eagle Materials Inc 17 1.71% -8.85% Lantheus Holdings Inc 16 0.64% -16.13% Inspire Medical Systems Inc 15 0.97% -18.53% Sweetgreen Inc, Class A 14 0.24% -40.53% Digitalocean Holdings Inc 13 0.89% -14.47% RXO Inc 12 0.55% -17.70% United Therapeutics Corp 11 1.91% -6.79% As of: 06/30/2025 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Read Important Investment Disclosures Read Important Investment Disclosures Sector Allocation (Equity) As of: 06/30/2025 View Allocation Details Allocation Details AMG Frontier Small Cap Growth Fund (MSSCX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell 2000® Growth Index Information Technology 27.09% 21.40% Industrials 26.26% 20.42% Consumer Discretionary 12.66% 9.78% Health Care 9.62% 22.82% Materials 5.59% 3.07% Financials 5.29% 11.45% Real Estate 4.67% 2.05% Consumer Staples 4.26% 2.61% Cash & Other 3.68% 0.00% Energy 0.88% 3.08% Communication Services 0.00% 2.76% Utilities 0.00% 0.55% As of: 06/30/2025 Investment Allocation 06/30/2025 Stocks 96.32% Bonds 0.00% Cash and Other 3.68% As of: 06/30/2025 Industry Fund Russell 2000® Growth Index Semiconductors & Semiconductor Equipment 13.20% 3.93% Software 7.08% 10.37% Hotels, Restaurants & Leisure 5.43% 3.42% Electronic Equipment, Instruments & Components 4.24% 4.57% Machinery 4.04% 5.00% Professional Services 3.93% 3.04% Biotechnology 3.88% 10.26% Construction & Engineering 3.84% 2.89% Metals & Mining 3.65% 0.87% Aerospace & Defense 3.56% 2.41% % in Top 10 Industries 52.85% 46.76% As of: 06/30/2025 Read Important Investment Disclosures About the Affiliate About Frontier Capital Management Frontier Capital Management Company, LLC, specializes in growth and value equity investments on behalf of institutional and individual clients. Learn More About Frontier Capital Management's Approach FOUNDED 1980 AMG AFFILIATE SINCE 2000 HEADQUARTERS Boston Portfolio Manager James A. Colgan PARTNER, PORTFOLIO MANAGER Read full bio Investment Approach Investment Approach AMG Frontier Small Cap Growth Fund The Fund invests primarily in common stocks of small U.S. companies whose market capitalization at the time of purchase is within the range of the Russell 2000® Index, the S&P Small Cap 600 Index, or the Dow Jones U.S. Small Cap Total Stock Market Index. Frontier utilizes and draws support from its entire team of investment professionals to identify opportunities and conduct fundamental research. Through fundamental bottom-up research, Frontier seeks long-term capital appreciation by investing in small cap companies that it believes have above-average earnings growth potential and are available at reasonable valuations. 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