Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class N N I Z NAV | as of 03/27/2025 $7.02 -$0.08 (-1.13%) Morningstar | Style Box V B G L M S Morningstar Rating Rated against 535 Small Growth funds as of 02/28/2025 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 01/01/2010 to 02/28/2025 = $53,071.14 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 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 02/28/2025 Overall Rating (of 535) 3 Years (of 535) 5 Years (of 519) 10 Years (of 395) 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: 1.54% Net Expense Ratio: 1.30% 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 $0.785000 $0.409000 — $0.376000 Dec 14, 2023 $0.082400 $0.082400 — — 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 $0.047500 — — $0.047500 Dec 28, 2015 $3.000400 — $0.055700 $2.944700 Dec 26, 2014 $11.624800 — $2.420700 $9.204100 Dec 26, 2013 $2.984900 — $1.203900 $1.781000 From: To: Risk & Return Statistics As of: 02/28/2025 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. 0.74 4.79 2.37 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. 23.40 26.73 22.83 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. -0.01 0.38 0.34 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. 103.62 122.87 120.69 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. 100.54 98.61 99.56 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. 0.97 1.04 1.03 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. 92.31 91.34 91.50 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. 6.51 7.92 6.70 View All Characteristics & Statistics All Characteristics & Statistics AMG Frontier Small Cap Growth Fund (MSSVX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell 2000® Growth Index Fund Assets (Mil.$) $89 Number of Holdings 116 1,117 Weighted Avg. Market Cap (Mil.$) $7,476 $4,416 Median Market Cap (Mil.$) $6,021 $1,204 Weighted Avg. P/E (1-yr Forward EPS) 22.48 21.94 Weighted Avg. P/E (Trailing EPS) 26.31 24.34 PEG Ratio 1.54 1.52 Weighted Avg. P/B 2.75 4.11 EPS Growth (Trailing 3-yr %) -1.48% 12.37% EPS Growth (Trailing 5-yr %) 11.62% 19.80% Forward EPS Growth (1-yr %) -0.83% 5.09% Forward EPS Growth (Long Term %) 16.75% 13.98% Revenue Growth (Trailing 5-yr %) 15.98% 14.15% Return on Equity 2.93% 4.14% Weighted Avg. Dividend Yield 0.39% 0.54% Debt to Equity 84.00 73.39 Trailing 12-Months Portfolio Turnover 233.36% As of: 12/31/2024 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. 0.74 4.79 2.37 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. 23.40 26.73 22.83 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. -0.01 0.38 0.34 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. 103.62 122.87 120.69 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. 100.54 98.61 99.56 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. 0.97 1.04 1.03 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. 92.31 91.34 91.50 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. 6.51 7.92 6.70 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. 0.08 0.62 0.37 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. -0.17 9.80 7.50 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. -19.76 -28.44 -31.91 As of: 02/28/2025 Market Cap Fund Russell 2000® Growth Index Market Cap ($mm) 0 - 1,000 6.32% 8.08% Market Cap ($mm) 1,000 - 1,500 3.21% 6.79% Market Cap ($mm) 1,500 - 2,500 8.22% 13.84% Market Cap ($mm) 2,500 - 5,000 18.76% 37.40% Market Cap ($mm) 5,000 - 10,000 42.39% 28.85% Market Cap ($mm) 10,000 - 25,000 20.13% 5.04% Market Cap ($mm) 25,000 - 50,000 0.96% 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 ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 12/31/2024 Valuation Characteristics Fund Russell 2000® Growth Index P/E 0-10 1.52% 2.93% P/E 10-15 8.57% 6.56% P/E 15-20 10.87% 10.49% P/E 20-25 4.56% 7.76% P/E 25-Above 40.07% 40.89% P/E – NA 34.42% 31.37% As of: 12/31/2024 Growth Characteristics Fund Russell 2000® Growth Index EPS Growth (Trailing 3-yr %) - Negative 21.23% 13.78% EPS Growth (Trailing 3-yr %) 0 - 5 2.31% 3.18% EPS Growth (Trailing 3-yr %) 5 - 10 2.53% 6.43% EPS Growth (Trailing 3-yr %) 10 - 15 5.01% 4.51% EPS Growth (Trailing 3-yr %) 15 - 20 3.08% 4.80% EPS Growth (Trailing 3-yr %) Above 20 17.89% 20.12% EPS Growth (Trailing 3-yr %) - NA 47.93% 47.17% As of: 12/31/2024 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 12/31/2024 Beacon Roofing Supply Inc 3.81% Caesars Entertainment Inc 3.36% ATI Inc 2.93% Lithia Motors Inc, Class A 2.83% Granite Construction Inc 2.80% indie Semiconductor Inc, Class A 2.71% United Therapeutics Corp 2.67% Carlyle Group Inc 2.56% Credo Technology Group Holding Ltd 2.46% MaxLinear Inc, Class A 2.29% % in Top 10 Holdings 28.43% View Holding Details Holding Details AMG Frontier Small Cap Growth Fund (MSSVX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 12/31/2024 Beacon Roofing Supply Inc 3.81% Caesars Entertainment Inc 3.36% ATI Inc 2.93% Lithia Motors Inc, Class A 2.83% Granite Construction Inc 2.80% indie Semiconductor Inc, Class A 2.71% United Therapeutics Corp 2.67% Carlyle Group Inc 2.56% Credo Technology Group Holding Ltd 2.46% MaxLinear Inc, Class A 2.29% % in Top 10 Holdings 28.43% As of: 12/31/2024 Download All Holdings (PDF) As of: 02/28/2025 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund CZR Caesars Entertainment Inc Consumer Discretionary S US USD 112,391 33.22 $3,733,629 4.02% CRS Carpenter Technology Corp Materials S US USD 15,445 207.07 $3,198,196 3.44% ATI ATI Inc Materials S US USD 48,232 58.16 $2,805,173 3.02% CG Carlyle Group Inc Financials S US USD 54,237 49.84 $2,703,172 2.91% UTHR United Therapeutics Corp Health Care S US USD 7,182 320.05 $2,298,599 2.48% PGY Pagaya Technologies Ltd, Class A Information Technology S US USD 179,032 12.83 $2,296,981 2.47% LTH Life Time Group Holdings Inc Consumer Discretionary S US USD 74,682 30.46 $2,274,814 2.45% LAD Lithia Motors Inc, Class A Consumer Discretionary S US USD 6,472 344.44 $2,229,216 2.40% DLB Dolby Laboratories Inc, Class A Information Technology S US USD 27,115 81.61 $2,212,855 2.38% FTAI FTAI Aviation Ltd Industrials S KY USD 17,041 128.71 $2,193,347 2.36% MAT Mattel Inc Consumer Discretionary S US USD 101,630 21.30 $2,164,719 2.33% ALK Alaska Air Group Inc Industrials S US USD 26,572 72.28 $1,920,624 2.07% MDB MongoDB Inc, Class A Information Technology S US USD 7,064 267.43 $1,889,126 2.03% INDI indie Semiconductor Inc, Class A Information Technology S US USD 600,368 3.01 $1,807,108 1.95% BPOP Popular Inc Financials S PR USD 17,832 100.43 $1,790,868 1.93% ENTG Entegris Inc Information Technology S US USD 17,240 101.22 $1,745,033 1.88% ZETA Zeta Global Holdings Corp, Class A Information Technology S US USD 98,114 17.21 $1,688,542 1.82% GVA Granite Construction Inc Industrials S US USD 19,793 82.58 $1,634,506 1.76% GTLB Gitlab Inc, Class A Information Technology S US USD 26,914 60.21 $1,620,492 1.75% TEM Tempus AI Inc, Class A Health Care S US USD 28,543 56.18 $1,603,546 1.73% KNX Knight-Swift Transportation Holdings Inc, Class A Industrials S US USD 30,662 50.44 $1,546,591 1.67% RRX Regal Rexnord Corp Industrials S US USD 11,524 129.40 $1,491,206 1.61% INSM Insmed Inc Health Care S US USD 17,444 81.55 $1,422,558 1.53% SNCY Sun Country Airlines Holdings Inc Industrials S US USD 87,547 16.11 $1,410,382 1.52% LSCC Lattice Semiconductor Corp Information Technology S US USD 20,987 62.34 $1,308,330 1.41% DAR Darling Ingredients Inc Consumer Staples S US USD 36,248 36.09 $1,308,190 1.41% SANM Sanmina Corp Information Technology S US USD 15,013 81.92 $1,229,865 1.32% PSTG Pure Storage Inc, Class A Information Technology S US USD 22,679 52.47 $1,189,967 1.28% XPO XPO Inc Industrials S US USD 9,340 122.96 $1,148,446 1.24% HXL Hexcel Corp Industrials S US USD 17,492 63.37 $1,108,468 1.19% SIMO Silicon Motion Technology Corp ADR Information Technology S TW USD 18,852 56.10 $1,057,597 1.14% TKR Timken Co Industrials S US USD 12,953 81.00 $1,049,193 1.13% BBIO Bridgebio Pharma Inc Health Care S US USD 27,136 34.90 $947,046 1.02% MXL MaxLinear Inc, Class A Information Technology S US USD 62,235 14.61 $909,253 0.98% FLR Fluor Corp Industrials S US USD 23,761 38.03 $903,631 0.97% BECN Beacon Roofing Supply Inc Industrials S US USD 7,723 115.42 $891,389 0.96% INSP Inspire Medical Systems Inc Health Care S US USD 4,717 185.59 $875,428 0.94% AMTM Amentum Holdings Inc Industrials S US USD 43,027 19.64 $845,050 0.91% EOLS Evolus Inc Health Care S US USD 55,308 14.59 $806,944 0.87% CFLT Confluent Inc, Class A Information Technology S US USD 23,739 31.74 $753,476 0.81% PCOR Procore Technologies Inc Information Technology S US USD 9,838 76.47 $752,312 0.81% RXO RXO Inc Industrials S US USD 36,521 20.47 $747,585 0.81% ACVA ACV Auctions Inc, Class A Industrials S US USD 46,369 16.06 $744,686 0.80% PLNT Planet Fitness Inc, Class A Consumer Discretionary S US USD 7,888 92.55 $730,034 0.79% DBRG DigitalBridge Group Inc, Class A Financials S US USD 63,887 11.37 $726,395 0.78% SILA Sila Realty Trust Inc, Class A Real Estate S US USD 27,764 25.42 $705,761 0.76% BILL BILL Holdings Inc Information Technology S US USD 12,719 55.20 $702,089 0.76% RYI Ryerson Holding Corp Materials S US USD 27,633 25.18 $695,799 0.75% DOCN Digitalocean Holdings Inc Information Technology S US USD 16,073 42.85 $688,728 0.74% ERO ERO Copper Corp Materials S CA USD 57,088 11.82 $674,780 0.73% GTX Garrett Motion Inc Consumer Discretionary S CH USD 68,265 9.66 $659,440 0.71% EXP Eagle Materials Inc Materials S US USD 2,857 226.21 $646,282 0.70% WOLF Wolfspeed Inc Information Technology S US USD 111,047 5.78 $641,852 0.69% GTLS Chart Industries Inc Industrials S US USD 3,161 190.55 $602,329 0.65% STVN Stevanato Group SpA Health Care S IT USD 31,769 18.64 $592,174 0.64% FARO FARO Technologies Inc Information Technology S US USD 17,816 31.96 $569,399 0.61% VKTX Viking Therapeutics Inc Health Care S US USD 18,782 28.87 $542,236 0.58% UCTT Ultra Clean Holdings Inc Information Technology S US USD 20,218 24.60 $497,363 0.54% LRN Stride Inc Consumer Discretionary S US USD 3,618 136.80 $494,942 0.53% ESTC Elastic NV Information Technology S US USD 4,236 116.36 $492,901 0.53% ALGM Allegro MicroSystems Inc Information Technology S US USD 21,917 22.30 $488,749 0.53% LCII LCI Industries Consumer Discretionary S US USD 4,562 103.82 $473,627 0.51% NVCR Novocure Ltd Health Care S JE USD 24,383 19.07 $464,984 0.50% BFAM Bright Horizons Family Solutions Inc, Class A Consumer Discretionary S US USD 3,538 129.66 $458,737 0.49% ATMU Atmus Filtration Technologies Inc Industrials S US USD 11,503 39.80 $457,819 0.49% IRTC iRhythm Technologies Inc Health Care S US USD 3,917 110.16 $431,497 0.46% TDW Tidewater Inc Energy S US USD 8,291 45.62 $378,235 0.41% RSI Rush Street Interactive Inc, Class A Consumer Discretionary S US USD 32,299 11.66 $376,606 0.41% SG Sweetgreen Inc, Class A Consumer Discretionary S US USD 16,091 22.76 $366,231 0.39% BASE Couchbase Inc Information Technology S US USD 19,319 17.65 $340,980 0.37% TMDX TransMedics Group Inc Health Care S US USD 4,310 76.32 $328,939 0.35% GBX Greenbrier Cos Inc Industrials S US USD 5,850 56.20 $328,770 0.35% COHR Coherent Corp Information Technology S US USD 4,143 75.19 $311,512 0.34% SHLS Shoals Technologies Group Inc, Class A Industrials S US USD 100,577 3.03 $304,748 0.33% PRCT PROCEPT BioRobotics Corp Health Care S US USD 4,539 64.34 $292,039 0.31% TTI TETRA Technologies Inc Energy S US USD 68,283 3.79 $258,793 0.28% ZS Zscaler Inc Information Technology S US USD 1,235 196.23 $242,344 0.26% KTOS Kratos Defense & Security Solutions Inc Industrials S US USD 9,115 26.39 $240,545 0.26% ENVX Enovix Corp Industrials S US USD 25,059 8.92 $223,526 0.24% HLIO Helios Technologies Inc Industrials S US USD 5,416 39.45 $213,661 0.23% KYMR Kymera Therapeutics Inc Health Care S US USD 6,807 31.35 $213,399 0.23% VCEL Vericel Corp Health Care S US USD 3,937 51.29 $201,929 0.22% INSW International Seaways Inc Energy S US USD 6,033 33.33 $201,080 0.22% TOST Toast Inc, Class A Financials S US USD 5,063 38.60 $195,432 0.21% BPMC Blueprint Medicines Corp Health Care S US USD 1,970 96.57 $190,243 0.20% DYN Dyne Therapeutics Inc Health Care S US USD 13,311 13.61 $181,163 0.20% APGE Apogee Therapeutics Inc Health Care S US USD 5,399 31.44 $169,745 0.18% AXSM Axsome Therapeutics Inc Health Care S US USD 1,128 127.54 $143,865 0.15% SYM Symbotic Inc, Class A Industrials S US USD 5,906 22.70 $134,066 0.14% PATH UiPath Inc, Class A Information Technology S US USD 10,750 12.30 $132,225 0.14% PAY Paymentus Holdings Inc, Class A Financials S US USD 3,621 27.40 $99,215 0.11% PR Permian Resources Corp, Class A Energy S US USD 6,985 14.09 $98,419 0.11% PENG Penguin Solutions Inc Information Technology S US USD 4,934 19.93 $98,335 0.11% NMIH NMI Holdings Inc, Class A Financials S US USD 2,334 36.44 $85,051 0.09% ADC Agree Realty Corp Real Estate S US USD 719 73.80 $53,062 0.06% LNTH Lantheus Holdings Inc Health Care S US USD 509 93.82 $47,754 0.05% S SentinelOne Inc, Class A Information Technology S US USD 2,204 20.63 $45,469 0.05% NTRA Natera Inc Health Care S US USD 254 155.59 $39,520 0.04% GDYN Grid Dynamics Holdings Inc Information Technology S US USD 1,378 18.82 $25,934 0.03% NET Cloudflare Inc, Class A Information Technology S US USD 175 145.30 $25,428 0.03% MP MP Materials Corp Materials S US USD 976 24.01 $23,434 0.03% PWR Quanta Services Inc Industrials S US USD 78 259.63 $20,251 0.02% BWXT BWX Technologies Inc Industrials S US USD 178 103.97 $18,507 0.02% MOD Modine Manufacturing Co Consumer Discretionary S US USD 208 84.56 $17,588 0.02% GWRE Guidewire Software Inc Information Technology S US USD 51 201.32 $10,267 0.01% BURL Burlington Stores Inc Consumer Discretionary S US USD 40 249.33 $9,973 0.01% PODD Insulet Corp Health Care S US USD 36 272.27 $9,802 0.01% DOCU DocuSign Inc, Class A Information Technology S US USD 114 83.17 $9,481 0.01% CHEF Chefs' Warehouse Inc Consumer Staples S US USD 151 62.58 $9,450 0.01% OKTA Okta Inc, Class A Information Technology S US USD 103 90.49 $9,320 0.01% BLDR Builders FirstSource Inc Industrials S US USD 66 138.99 $9,173 0.01% MPWR Monolithic Power Systems Inc Information Technology S US USD 15 611.01 $9,165 0.01% SSYS Stratasys Ltd Industrials S US USD 842 10.57 $8,900 0.01% MGNI Magnite Inc [MGNI] Consumer Discretionary S US USD 562 15.77 $8,863 0.01% ALAB Astera Labs Inc Information Technology S US USD 115 74.35 $8,550 0.01% CRDO Credo Technology Group Holding Ltd Information Technology S US USD 154 55.18 $8,498 0.01% MKSI MKS Instruments Inc Information Technology S US USD 89 91.82 $8,172 0.01% CAVA Cava Group Inc Consumer Discretionary S US USD 72 95.03 $6,842 0.01% Cash & Equivalents Cash C US USD - - $4,357,571 4.69% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Credo Technology Group Holding Ltd 1 2.31% 118.21% Summit Materials Inc, Class A 2 2.53% 29.49% Alaska Air Group Inc 3 2.14% 43.22% BILL Holdings Inc 4 1.17% 60.56% Beacon Roofing Supply Inc 5 3.82% 17.53% MaxLinear Inc, Class A 6 1.78% 36.60% Lithia Motors Inc, Class A 7 3.47% 12.64% FTAI Aviation Ltd 8 1.56% 8.59% Granite Construction Inc 9 3.33% 10.75% Symbotic Inc, Class A 10 0.42% -2.79% As of: 12/31/2024 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 Viking Therapeutics Inc 20 1.51% -36.44% Caesars Entertainment Inc 19 3.12% -19.93% ATI Inc 18 2.69% -17.74% Keros Therapeutics, Inc. 17 0.68% -67.57% DigitalBridge Group Inc, Class A 16 1.52% -20.12% Eagle Materials Inc 15 3.56% -14.16% MongoDB Inc, Class A 14 1.45% -13.89% ERO Copper Corp 13 0.65% -39.47% RXO Inc 12 1.66% -14.86% Pagaya Technologies Ltd, Class A 11 0.69% -22.06% As of: 12/31/2024 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: 12/31/2024 View Allocation Details Allocation Details AMG Frontier Small Cap Growth Fund (MSSVX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell 2000® Growth Index Industrials 25.49% 22.65% Information Technology 21.32% 20.77% Consumer Discretionary 16.19% 10.21% Health Care 14.21% 23.46% Materials 8.07% 3.65% Financials 6.13% 8.63% Cash & Other 3.69% 0.00% Real Estate 2.16% 1.39% Consumer Staples 1.93% 3.34% Energy 0.81% 3.30% Communication Services 0.00% 2.15% Utilities 0.00% 0.45% As of: 12/31/2024 Investment Allocation 12/31/2024 Stocks 96.31% Bonds 0.00% Cash and Other 3.69% As of: 12/31/2024 Industry Fund Russell 2000® Growth Index Semiconductors & Semiconductor Equipment 10.70% 3.89% Hotels, Restaurants & Leisure 8.87% 2.86% Biotechnology 7.95% 12.44% Software 6.26% 11.70% Trading Companies & Distributors 5.50% 3.54% Metals & Mining 5.33% 1.26% Ground Transportation 4.62% 0.50% Capital Markets 4.09% 2.95% Construction & Engineering 4.08% 2.63% Machinery 3.60% 5.10% % in Top 10 Industries 61% 46.87% As of: 12/31/2024 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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