Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class I N I Z NAV | as of 11/11/2025 $9.48 -$0.07 (-0.73%) Morningstar | Style Box V B G L M S Morningstar Rating Rated against 516 Small Growth funds as of 10/31/2025 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 09/24/1997 to 10/31/2025 = $113,333.25 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 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 10/31/2025 Overall Rating (of 516) 3 Years (of 516) 5 Years (of 496) 10 Years (of 392) 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. Nathan A. Hayman Partner, Portfolio Manager Nathan Hayman is a co-Portfolio Manager of the Small Cap Growth Fund. He is also a Portfolio Manager of Frontier’s Focus strategy. He also serves as a Research Analyst and is an equity partner in the firm. He focuses his research efforts on Aerospace, Transportation and Housing. Prior to Frontier, he was a Senior Associate at the law firm, Yigal Arnon & Co. Nathan received a L.L.B. from the Hebrew University Law School and an M.B.A. from Dartmouth College Tuck School of Business. 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: 10/31/2025 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. -0.70 2.91 2.69 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. 21.55 22.99 23.02 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. 0.36 0.35 0.44 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. 103.13 106.02 107.61 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. 108.70 98.19 99.19 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. 1.00 0.98 1.04 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. 89.98 89.99 91.35 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. 6.92 7.35 6.86 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.$) $77 Number of Holdings 120 Weighted Avg. Market Cap (Mil.$) $8,613 $5,364 Median Market Cap (Mil.$) $5,681 $1,297 Weighted Avg. P/E (1-yr Forward EPS) 21.74 22.06 Weighted Avg. P/E (Trailing EPS) 26.98 26.44 PEG Ratio 1.19 1.49 Weighted Avg. P/B 2.64 4.37 EPS Growth (Trailing 3-yr %) -0.99% 13.26% EPS Growth (Trailing 5-yr %) 9.16% 18.77% Forward EPS Growth (1-yr %) 3.29% 7.88% Forward EPS Growth (Long Term %) 16.37% 12.22% Revenue Growth (Trailing 5-yr %) 15.27% 16.21% Return on Equity 3.93% 2.69% Weighted Avg. Dividend Yield 0.62% 0.50% Debt to Equity 77.53 73.82 Trailing 12-Months Portfolio Turnover 306.22% As of: 09/30/2025 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. -0.70 2.91 2.69 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. 21.55 22.99 23.02 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. 0.36 0.35 0.44 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. 103.13 106.02 107.61 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. 108.70 98.19 99.19 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. 1.00 0.98 1.04 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. 89.98 89.99 91.35 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. 6.92 7.35 6.86 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. -0.14 0.35 0.39 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. 7.92 8.39 9.72 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: 10/31/2025 Market Cap Fund Russell 2000® Growth Index Market Cap ($mm) 0 - 1,000 5.04% 7.67% Market Cap ($mm) 1,000 - 1,500 4.56% 4.90% Market Cap ($mm) 1,500 - 2,500 8.87% 15.11% Market Cap ($mm) 2,500 - 5,000 22.53% 35.76% Market Cap ($mm) 5,000 - 10,000 30.89% 25.69% Market Cap ($mm) 10,000 - 25,000 24.56% 9.42% Market Cap ($mm) 25,000 - 50,000 3.56% 1.46% Market Cap ($mm) 50,000 - 100,000 0.00% 0.00% Market Cap ($mm) 100,000 - 200,000 0.00% 0.00% Market Cap ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 09/30/2025 Valuation Characteristics Fund Russell 2000® Growth Index P/E 0-10 3.61% 2.34% P/E 10-15 7.18% 5.03% P/E 15-20 12.49% 7.56% P/E 20-25 7.09% 8.16% P/E 25-Above 49.99% 46.27% P/E – NA 19.65% 30.63% As of: 09/30/2025 Growth Characteristics Fund Russell 2000® Growth Index EPS Growth (Trailing 3-yr %) - Negative 38.64% 14.04% EPS Growth (Trailing 3-yr %) 0 - 5 2.85% 3.89% EPS Growth (Trailing 3-yr %) 5 - 10 1.14% 2.55% EPS Growth (Trailing 3-yr %) 10 - 15 3.98% 4.46% EPS Growth (Trailing 3-yr %) 15 - 20 3.73% 5.48% EPS Growth (Trailing 3-yr %) Above 20 10.44% 23.16% EPS Growth (Trailing 3-yr %) - NA 39.22% 46.42% As of: 09/30/2025 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 09/30/2025 Entegris Inc 4.49% Coherent Corp 4.02% Silicon Motion Technology Corp ADR 3.42% Eagle Materials Inc 3.13% MKS Inc 2.85% FTAI Aviation Ltd 2.83% Alaska Air Group Inc 2.43% Carlyle Group Inc 2.35% Granite Construction Inc 2.20% Teradyne Inc 2.19% % in Top 10 Holdings 29.92% View Holding Details Holding Details AMG Frontier Small Cap Growth Fund (MSSCX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 09/30/2025 Entegris Inc 4.49% Coherent Corp 4.02% Silicon Motion Technology Corp ADR 3.42% Eagle Materials Inc 3.13% MKS Inc 2.85% FTAI Aviation Ltd 2.83% Alaska Air Group Inc 2.43% Carlyle Group Inc 2.35% Granite Construction Inc 2.20% Teradyne Inc 2.19% % in Top 10 Holdings 29.92% As of: 09/30/2025 Download All Holdings (PDF) As of: 09/30/2025 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund ENTG Entegris Inc Information Technology S US USD 37,631 92.46 $3,479,362 4.49% COHR Coherent Corp Information Technology S US USD 28,931 107.72 $3,116,447 4.02% SIMO Silicon Motion Technology Corp ADR Information Technology S TW USD 27,957 94.81 $2,650,603 3.42% EXP Eagle Materials Inc Materials S US USD 10,396 233.04 $2,422,684 3.13% MKSI MKS Inc Information Technology S US USD 17,859 123.77 $2,210,408 2.85% FTAI FTAI Aviation Ltd Industrials S KY USD 13,142 166.86 $2,192,874 2.83% ALK Alaska Air Group Inc Industrials S US USD 37,817 49.78 $1,882,530 2.43% CG Carlyle Group Inc Financials S US USD 28,968 62.70 $1,816,294 2.35% GVA Granite Construction Inc Industrials S US USD 15,522 109.65 $1,701,987 2.20% TER Teradyne Inc Information Technology S US USD 12,302 137.64 $1,693,247 2.19% AMTM Amentum Holdings Inc Industrials S US USD 68,698 23.95 $1,645,317 2.12% INDI indie Semiconductor Inc, Class A Information Technology S US USD 357,241 4.07 $1,453,971 1.88% BLDR Builders FirstSource Inc Industrials S US USD 11,279 121.25 $1,367,579 1.77% DBRG DigitalBridge Group Inc, Class A Financials S US USD 109,828 11.70 $1,284,988 1.66% BPOP Popular Inc Financials S PR USD 9,820 127.01 $1,247,238 1.61% RRX Regal Rexnord Corp Industrials S US USD 8,580 143.44 $1,230,715 1.59% PGY Pagaya Technologies Ltd, Class A Information Technology S US USD 39,639 29.69 $1,176,882 1.52% CWK Cushman & Wakefield PLC Real Estate S US USD 71,880 15.92 $1,144,330 1.48% DAR Darling Ingredients Inc Consumer Staples S US USD 35,168 30.87 $1,085,636 1.40% PSN Parsons Corp Industrials S US USD 12,527 82.92 $1,038,739 1.34% CGNX Cognex Corp Information Technology S US USD 21,597 45.30 $978,344 1.26% GENI Genius Sports Ltd Consumer Discretionary S GB USD 75,987 12.38 $940,719 1.21% IONQ Ionq Inc Information Technology S US USD 15,287 61.50 $940,151 1.21% MPWR Monolithic Power Systems Inc Information Technology S US USD 1,007 920.64 $927,084 1.20% RNST Renasant Corp Financials S US USD 24,971 36.89 $921,180 1.19% SANM Sanmina Corp Information Technology S US USD 7,996 115.11 $920,420 1.19% MDB MongoDB Inc, Class A Information Technology S US USD 2,860 310.38 $887,687 1.15% SNCY Sun Country Airlines Holdings Inc Industrials S US USD 74,706 11.81 $882,278 1.14% LSCC Lattice Semiconductor Corp Information Technology S US USD 11,876 73.32 $870,748 1.12% UCTT Ultra Clean Holdings Inc Information Technology S US USD 31,558 27.25 $859,956 1.11% U Unity Software Inc Information Technology S US USD 21,100 40.04 $844,844 1.09% MOD Modine Manufacturing Co Consumer Discretionary S US USD 5,927 142.16 $842,582 1.09% ZETA Zeta Global Holdings Corp, Class A Information Technology S US USD 41,297 19.87 $820,571 1.06% SAIA Saia Inc Industrials S US USD 2,657 299.36 $795,400 1.03% GTX Garrett Motion Inc Consumer Discretionary S CH USD 57,760 13.62 $786,691 1.02% KYMR Kymera Therapeutics Inc Health Care S US USD 13,885 56.60 $785,891 1.01% LCII LCI Industries Consumer Discretionary S US USD 8,323 93.15 $775,287 1.00% DOCN Digitalocean Holdings Inc Information Technology S US USD 21,495 34.16 $734,269 0.95% HXL Hexcel Corp Industrials S US USD 11,683 62.70 $732,524 0.95% ALGT Allegiant Travel Co, Class A Industrials S US USD 11,842 60.77 $719,638 0.93% MAT Mattel Inc Consumer Discretionary S US USD 41,751 16.83 $702,669 0.91% BILL BILL Holdings Inc Information Technology S US USD 12,913 52.97 $684,002 0.88% AGCO AGCO Corp Industrials S US USD 6,371 107.07 $682,143 0.88% BBIO Bridgebio Pharma Inc Health Care S US USD 13,092 51.94 $679,998 0.88% LTH Life Time Group Holdings Inc Consumer Discretionary S US USD 24,461 27.60 $675,124 0.87% RARE Ultragenyx Pharmaceutical Inc Health Care S US USD 19,807 30.08 $595,795 0.77% CZR Caesars Entertainment Inc Consumer Discretionary S US USD 21,939 27.03 $592,901 0.77% TFIN Triumph Financial Inc Financials S US USD 11,197 50.04 $560,298 0.72% INOD Innodata Inc Industrials S US USD 7,212 77.07 $555,829 0.72% AVTR Avantor Inc Health Care S US USD 43,415 12.48 $541,819 0.70% CRDO Credo Technology Group Holding Ltd Information Technology S US USD 3,721 145.61 $541,815 0.70% SILA Sila Realty Trust Inc, Class A Real Estate S US USD 20,625 25.10 $517,688 0.67% DLB Dolby Laboratories Inc, Class A Information Technology S US USD 6,984 72.37 $505,432 0.65% FIP FTAI Infrastructure Inc Industrials S US USD 109,277 4.36 $476,448 0.62% FLR Fluor Corp Industrials S US USD 11,046 42.07 $464,705 0.60% TDW Tidewater Inc Energy S US USD 8,609 53.33 $459,118 0.59% TMDX TransMedics Group Inc Health Care S US USD 4,081 112.20 $457,888 0.59% WEAV Weave Communications Inc Information Technology S US USD 68,328 6.68 $456,431 0.59% ATMU Atmus Filtration Technologies Inc Industrials S US USD 9,880 45.09 $445,489 0.58% ERO ERO Copper Corp Materials S CA USD 21,965 20.23 $444,352 0.57% STRL Sterling Infrastructure Inc Industrials S US USD 1,300 339.68 $441,584 0.57% RSI Rush Street Interactive Inc, Class A Consumer Discretionary S US USD 21,462 20.48 $439,542 0.57% LAD Lithia Motors Inc, Class A Consumer Discretionary S US USD 1,299 316.00 $410,484 0.53% APGE Apogee Therapeutics Inc Health Care S US USD 10,035 39.73 $398,691 0.51% SBCF Seacoast Banking Corp of Florida Financials S US USD 12,846 30.43 $390,904 0.50% INSW International Seaways Inc Energy S US USD 8,246 46.08 $379,976 0.49% LRN Stride Inc Consumer Discretionary S US USD 2,539 148.94 $378,159 0.49% MGNI Magnite Inc [MGNI] Consumer Discretionary S US USD 16,407 21.78 $357,344 0.46% ADC Agree Realty Corp Real Estate S US USD 5,027 71.04 $357,118 0.46% TEM Tempus AI Inc, Class A Health Care S US USD 4,418 80.71 $356,577 0.46% LUNR Intuitive Machines Inc, Class A Industrials S US USD 33,895 10.52 $356,575 0.46% FLYW Flywire Corp Financials S US USD 25,868 13.54 $350,253 0.45% PLNT Planet Fitness Inc, Class A Consumer Discretionary S US USD 3,355 103.80 $348,249 0.45% PCOR Procore Technologies Inc Information Technology S US USD 4,773 72.92 $348,047 0.45% MHO M/I Homes Inc Consumer Discretionary S US USD 2,380 144.44 $343,767 0.44% AXSM Axsome Therapeutics Inc Health Care S US USD 2,708 121.45 $328,887 0.42% PSTG Pure Storage Inc, Class A Information Technology S US USD 3,882 83.81 $325,350 0.42% DYN Dyne Therapeutics Inc Health Care S US USD 24,415 12.65 $308,850 0.40% ATI ATI Inc Industrials S US USD 3,604 81.34 $293,149 0.38% TKR Timken Co Industrials S US USD 3,791 75.18 $285,007 0.37% EPRT Essential Properties Realty Trust Inc Real Estate S US USD 9,180 29.76 $273,197 0.35% FLS Flowserve Corp Industrials S US USD 4,878 53.14 $259,217 0.33% ODD Oddity Tech Ltd, Class A Consumer Staples S IL USD 4,144 62.30 $258,171 0.33% BWXT BWX Technologies Inc Industrials S US USD 1,336 184.37 $246,318 0.32% IRT Independence Realty Trust Inc Real Estate S US USD 14,822 16.39 $242,933 0.31% TTI TETRA Technologies Inc Energy S US USD 42,194 5.75 $242,616 0.31% KD Kyndryl Holdings Inc Information Technology S US USD 7,926 30.03 $238,018 0.31% SIGI Selective Insurance Group Inc Financials S US USD 2,819 81.07 $228,536 0.30% ENVX Enovix Corp Industrials S US USD 22,655 9.97 $225,870 0.29% STAG STAG Industrial Inc Real Estate S US USD 5,497 35.29 $193,989 0.25% RXO RXO Inc Industrials S US USD 12,102 15.38 $186,129 0.24% MXL MaxLinear Inc, Class A Information Technology S US USD 11,372 16.08 $182,862 0.24% SLNO Soleno Therapeutics Inc Health Care S US USD 2,430 67.60 $164,268 0.21% RYI Ryerson Holding Corp Materials S US USD 6,982 22.86 $159,609 0.21% CRS Carpenter Technology Corp Industrials S US USD 633 245.54 $155,427 0.20% NTRA Natera Inc Health Care S US USD 866 160.97 $139,400 0.18% VCEL Vericel Corp Health Care S US USD 4,422 31.47 $139,160 0.18% SHLS Shoals Technologies Group Inc, Class A Industrials S US USD 15,908 7.41 $117,878 0.15% ACVA ACV Auctions Inc, Class A Industrials S US USD 11,843 9.91 $117,364 0.15% PRCT PROCEPT BioRobotics Corp Health Care S US USD 2,827 35.69 $100,896 0.13% NVCR Novocure Ltd Health Care S JE USD 7,718 12.92 $99,717 0.13% NMIH NMI Holdings Inc, Class A Financials S US USD 2,593 38.34 $99,416 0.13% SG Sweetgreen Inc, Class A Consumer Discretionary S US USD 11,686 7.98 $93,254 0.12% CACI CACI International Inc, Class A Industrials S US USD 161 498.78 $80,304 0.10% UTHR United Therapeutics Corp Health Care S US USD 187 419.21 $78,392 0.10% EOLS Evolus Inc Health Care S US USD 7,250 6.14 $44,515 0.06% ALM Almonty Industries Inc Materials S CA USD 6,181 6.03 $37,271 0.05% TOST Toast Inc, Class A Financials S US USD 917 36.51 $33,480 0.04% MP MP Materials Corp Materials S US USD 474 67.07 $31,791 0.04% RGTI Rigetti Computing Inc Information Technology S US USD 636 29.79 $18,946 0.02% SYM Symbotic Inc, Class A Industrials S US USD 316 53.90 $17,032 0.02% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 160 93.25 $14,920 0.02% INSP Inspire Medical Systems Inc Health Care S US USD 170 74.20 $12,614 0.02% GWRE Guidewire Software Inc Information Technology S US USD 42 229.86 $9,654 0.01% PODD Insulet Corp Health Care S US USD 29 308.73 $8,953 0.01% KTOS Kratos Defense & Security Solutions Inc Industrials S US USD 97 91.37 $8,863 0.01% ALAB Astera Labs Inc Information Technology S US USD 43 195.80 $8,419 0.01% BURL Burlington Stores Inc Consumer Discretionary S US USD 32 254.50 $8,144 0.01% KNX Knight-Swift Transportation Holdings Inc, Class A Industrials S US USD 204 39.51 $8,060 0.01% CFLT Confluent Inc, Class A Information Technology S US USD 398 19.80 $7,880 0.01% Cash & Equivalents Cash C US USD - - $1,788,231 2.31% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return FTAI Aviation Ltd 1 2.42% 45.35% Silicon Motion Technology Corp ADR 2 3.17% 26.97% Pagaya Technologies Ltd, Class A 3 2.16% 39.26% Teradyne Inc 4 1.52% 48.06% Credo Technology Group Holding Ltd 5 1.33% 57.26% Entegris Inc 6 2.93% 14.74% MKS Inc 7 2.10% 24.75% Coherent Corp 8 2.64% 20.75% Cushman & Wakefield PLC 9 1.31% 43.81% Granite Construction Inc 10 2.12% 17.36% As of: 09/30/2025 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 Inspire Medical Systems Inc 20 0.65% -42.82% Darling Ingredients Inc 19 2.06% -18.63% Kyndryl Holdings Inc 18 0.86% -28.43% FTAI Infrastructure Inc 17 0.66% -29.06% Mattel Inc 16 1.54% -14.66% Fluor Corp 15 0.72% -17.94% Lantheus Holdings Inc 14 0.22% -32.98% Sweetgreen Inc, Class A 13 0.28% -46.37% PROCEPT BioRobotics Corp 12 0.43% -38.04% IonQ, Inc. 11 0.18% -6.02% As of: 09/30/2025 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: 09/30/2025 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 36.02% 22.24% Industrials 25.33% 22.07% Consumer Discretionary 9.94% 9.38% Financials 8.95% 10.42% Health Care 6.77% 22.10% Materials 4.00% 3.51% Real Estate 3.52% 1.97% Cash & Other 2.31% 0.00% Consumer Staples 1.75% 2.25% Energy 1.40% 2.96% Communication Services 0.00% 2.49% Utilities 0.00% 0.61% As of: 09/30/2025 Investment Allocation 09/30/2025 Stocks 97.69% Bonds 0.00% Cash and Other 2.31% As of: 09/30/2025 Industry Fund Russell 2000® Growth Index Semiconductors & Semiconductor Equipment 19.24% 5.26% Electronic Equipment, Instruments & Components 6.48% 4.14% Software 6.27% 9.80% Passenger Airlines 4.50% 0.55% Professional Services 4.29% 2.95% Biotechnology 4.25% 10.11% Banks 4.03% 2.72% Capital Markets 4.01% 2.90% Hotels, Restaurants & Leisure 3.99% 2.60% Construction & Engineering 3.37% 3.40% % in Top 10 Industries 60.43% 44.43% As of: 09/30/2025 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 Managers James A. Colgan PARTNER, PORTFOLIO MANAGER Read full bio Nathan A. Hayman 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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