Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class Z N I Z NAV | as of 02/13/2026 $10.91 +$0.11 (+1.02%) Morningstar | Style Box V B G L M S Morningstar Rating Rated against 518 Small Growth funds as of 01/31/2026 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 01/01/2010 to 01/31/2026 = $68,831.41 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 01/31/2026 Overall Rating (of 518) 3 Years (of 518) 5 Years (of 496) 10 Years (of 391) 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: 1.14% Net Expense Ratio: 0.90% 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, 2025 $0.431200 $0.191100 — $0.240100 Dec 16, 2024 $0.820000 $0.444000 — $0.376000 Dec 14, 2023 $0.102200 $0.102200 — — 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 $0.049100 — — $0.049100 Dec 28, 2015 $3.087000 — $0.057300 $3.029700 Dec 26, 2014 $11.896300 — $2.477200 $9.419100 Dec 26, 2013 $3.039400 — $1.225900 $1.813500 From: To: Risk & Return Statistics As of: 01/31/2026 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. 0.23 3.98 3.35 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. 20.25 21.26 22.62 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. 0.39 0.16 0.55 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. 100.29 107.58 107.94 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. 101.18 94.50 96.61 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. 0.98 0.97 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. 88.39 87.86 90.79 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. 7.01 7.47 6.95 View All Characteristics & Statistics All Characteristics & Statistics AMG Frontier Small Cap Growth Fund (MSSYX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell 2000® Growth Index Fund Assets (Mil.$) $79 Number of Holdings 120 Weighted Avg. Market Cap (Mil.$) $9,520 $5,548 Median Market Cap (Mil.$) $5,861 $1,305 Weighted Avg. P/E (1-yr Forward EPS) 22.56 21.28 Weighted Avg. P/E (Trailing EPS) 27.43 25.69 PEG Ratio 1.23 1.44 Weighted Avg. P/B 2.78 4.25 EPS Growth (Trailing 3-yr %) 3.72% 12.40% EPS Growth (Trailing 5-yr %) 2.39% 18.36% Forward EPS Growth (1-yr %) 6.33% 9.11% Forward EPS Growth (Long Term %) 17.66% 12.66% Revenue Growth (Trailing 5-yr %) 18.53% 17.34% Return on Equity -0.42% 1.92% Weighted Avg. Dividend Yield 0.47% 0.50% Debt to Equity 70.56 72.15 Trailing 12-Months Portfolio Turnover 295.14% As of: 12/31/2025 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. 0.23 3.98 3.35 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. 20.25 21.26 22.62 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. 0.39 0.16 0.55 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. 100.29 107.58 107.94 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. 101.18 94.50 96.61 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. 0.98 0.97 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. 88.39 87.86 90.79 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. 7.01 7.47 6.95 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. -0.02 0.51 0.49 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. 8.09 3.48 11.95 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. -23.02 -28.25 -31.77 As of: 01/31/2026 Market Cap Fund Russell 2000® Growth Index Market Cap ($mm) 0 - 1,000 5.93% 7.19% Market Cap ($mm) 1,000 - 1,500 5.28% 5.35% Market Cap ($mm) 1,500 - 2,500 7.62% 12.04% Market Cap ($mm) 2,500 - 5,000 19.17% 36.66% Market Cap ($mm) 5,000 - 10,000 30.65% 27.25% Market Cap ($mm) 10,000 - 25,000 21.44% 10.05% Market Cap ($mm) 25,000 - 50,000 9.91% 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 ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 12/31/2025 Valuation Characteristics Fund Russell 2000® Growth Index P/E 0-10 1.78% 2.18% P/E 10-15 7.49% 6.45% P/E 15-20 8.19% 8.32% P/E 20-25 4.96% 8.78% P/E 25-Above 48.91% 42.62% P/E – NA 28.67% 31.64% As of: 12/31/2025 Growth Characteristics Fund Russell 2000® Growth Index EPS Growth (Trailing 3-yr %) - Negative 28.27% 13.23% EPS Growth (Trailing 3-yr %) 0 - 5 2.62% 3.29% EPS Growth (Trailing 3-yr %) 5 - 10 0.83% 2.94% EPS Growth (Trailing 3-yr %) 10 - 15 3.10% 5.92% EPS Growth (Trailing 3-yr %) 15 - 20 0.46% 4.59% EPS Growth (Trailing 3-yr %) Above 20 16.43% 18.68% EPS Growth (Trailing 3-yr %) - NA 48.28% 51.36% As of: 12/31/2025 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 12/31/2025 Amentum Holdings Inc 3.05% Astera Labs Inc 2.98% Alaska Air Group Inc 2.92% Entegris Inc 2.58% Circle Internet Group Inc, Class A 2.58% FTAI Aviation Ltd 2.45% Granite Construction Inc 2.12% MongoDB Inc, Class A 1.91% Natera Inc 1.88% ATI Inc 1.82% % in Top 10 Holdings 24.29% View Holding Details Holding Details AMG Frontier Small Cap Growth Fund (MSSYX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 12/31/2025 Amentum Holdings Inc 3.05% Astera Labs Inc 2.98% Alaska Air Group Inc 2.92% Entegris Inc 2.58% Circle Internet Group Inc, Class A 2.58% FTAI Aviation Ltd 2.45% Granite Construction Inc 2.12% MongoDB Inc, Class A 1.91% Natera Inc 1.88% ATI Inc 1.82% % in Top 10 Holdings 24.29% As of: 12/31/2025 Download All Holdings (PDF) As of: 01/31/2026 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund AMTM Amentum Holdings Inc Industrials S US USD 83,673 35.78 $2,993,820 3.61% FTAI FTAI Aviation Ltd Industrials S KY USD 10,583 272.32 $2,881,963 3.47% ALK Alaska Air Group Inc Industrials S US USD 53,184 50.83 $2,703,343 3.26% CRCL Circle Internet Group Inc, Class A Information Technology S US USD 39,485 63.93 $2,524,276 3.04% ALAB Astera Labs Inc Information Technology S US USD 16,695 150.62 $2,514,601 3.03% ENTG Entegris Inc Information Technology S US USD 19,163 118.07 $2,262,575 2.73% GVA Granite Construction Inc Industrials S US USD 14,783 120.74 $1,784,899 2.15% KYMR Kymera Therapeutics Inc Health Care S US USD 21,604 72.69 $1,570,395 1.89% UCTT Ultra Clean Holdings Inc Information Technology S US USD 35,323 43.68 $1,542,909 1.86% ASH Ashland Inc Materials S US USD 24,811 61.16 $1,517,441 1.83% DAR Darling Ingredients Inc Consumer Staples S US USD 32,855 45.66 $1,500,159 1.81% SAIA Saia Inc Industrials S US USD 4,367 334.87 $1,462,377 1.76% JAZZ Jazz Pharmaceuticals PLC Health Care S IE USD 8,797 164.49 $1,447,019 1.74% BBIO Bridgebio Pharma Inc Health Care S US USD 18,583 77.27 $1,435,908 1.73% LUNR Intuitive Machines Inc, Class A Industrials S US USD 75,431 18.99 $1,432,435 1.73% INDI indie Semiconductor Inc, Class A Information Technology S US USD 348,802 4.10 $1,430,088 1.72% KNX Knight-Swift Transportation Holdings Inc, Class A Industrials S US USD 25,696 55.10 $1,415,850 1.71% ATI ATI Inc Industrials S US USD 11,562 120.30 $1,390,909 1.68% RRX Regal Rexnord Corp Industrials S US USD 8,461 161.50 $1,366,452 1.65% APGE Apogee Therapeutics Inc Health Care S US USD 20,319 65.51 $1,331,098 1.60% ALGT Allegiant Travel Co, Class A Industrials S US USD 14,038 88.63 $1,244,188 1.50% CIFR Cipher Mining Inc Information Technology S US USD 72,140 15.96 $1,151,354 1.39% LSCC Lattice Semiconductor Corp Information Technology S US USD 14,159 80.52 $1,140,083 1.37% SANM Sanmina Corp Information Technology S US USD 7,915 141.68 $1,121,397 1.35% TFIN Triumph Financial Inc Financials S US USD 17,721 63.09 $1,118,018 1.35% GTX Garrett Motion Inc Consumer Discretionary S CH USD 61,720 18.04 $1,113,429 1.34% BPOP Popular Inc Financials S PR USD 8,120 133.53 $1,084,264 1.31% SIGI Selective Insurance Group Inc Financials S US USD 12,671 84.08 $1,065,378 1.28% AKAM Akamai Technologies Inc Information Technology S US USD 10,378 97.15 $1,008,223 1.22% ATMU Atmus Filtration Technologies Inc Industrials S US USD 17,339 57.97 $1,005,142 1.21% FLS Flowserve Corp Industrials S US USD 12,782 78.15 $998,913 1.20% AXSM Axsome Therapeutics Inc Health Care S US USD 5,371 184.25 $989,607 1.19% RARE Ultragenyx Pharmaceutical Inc Health Care S US USD 40,470 24.07 $974,113 1.17% RNST Renasant Corp Financials S US USD 25,480 37.71 $960,851 1.16% SIMO Silicon Motion Technology Corp ADR Information Technology S TW USD 7,793 118.93 $926,821 1.12% ERO ERO Copper Corp Materials S CA USD 27,032 33.51 $905,842 1.09% CRDO Credo Technology Group Holding Ltd Information Technology S US USD 7,173 125.28 $898,633 1.08% LAD Lithia Motors Inc, Class A Consumer Discretionary S US USD 2,625 323.44 $849,030 1.02% GENI Genius Sports Ltd Consumer Discretionary S GB USD 97,498 8.70 $848,233 1.02% MAT Mattel Inc Consumer Discretionary S US USD 39,960 20.89 $834,764 1.01% BURL Burlington Stores Inc Consumer Discretionary S US USD 2,790 295.86 $825,449 1.00% MDB MongoDB Inc, Class A Information Technology S US USD 2,216 371.33 $822,867 0.99% LCII LCI Industries Consumer Discretionary S US USD 5,602 146.69 $821,757 0.99% NUVL Nuvalent Inc, Class A Health Care S US USD 7,859 102.89 $808,613 0.97% FIP FTAI Infrastructure Inc Industrials S US USD 134,253 5.82 $781,352 0.94% SBCF Seacoast Banking Corp of Florida Financials S US USD 22,792 33.44 $762,164 0.92% LRN Stride Inc Consumer Discretionary S US USD 8,821 84.60 $746,257 0.90% PSTG Pure Storage Inc, Class A Information Technology S US USD 10,347 69.54 $719,530 0.87% UTHR United Therapeutics Corp Health Care S US USD 1,479 469.49 $694,376 0.84% TMDX TransMedics Group Inc Health Care S US USD 5,168 133.98 $692,383 0.83% VOYG Voyager Technologies Inc, Class A Industrials S US USD 20,726 30.53 $632,765 0.76% BETR Better Home & Finance Holding Co, Class A Financials S US USD 19,910 30.31 $603,472 0.73% DOCN Digitalocean Holdings Inc Information Technology S US USD 10,619 55.25 $586,700 0.71% RXO RXO Inc Industrials S US USD 40,115 14.58 $584,877 0.71% TDW Tidewater Inc Energy S US USD 9,330 62.49 $583,032 0.70% MKSI MKS Inc Information Technology S US USD 2,456 235.41 $578,167 0.70% CWK Cushman & Wakefield Ltd Real Estate S US USD 34,909 16.44 $573,904 0.69% DYN Dyne Therapeutics Inc Health Care S US USD 31,042 17.89 $555,341 0.67% PGY Pagaya Technologies Ltd, Class A Information Technology S US USD 28,359 19.39 $549,881 0.66% LTH Life Time Group Holdings Inc Consumer Discretionary S US USD 18,725 29.17 $546,208 0.66% NP Neptune Insurance Holdings Inc, Class A Financials S US USD 21,318 25.50 $543,609 0.66% NTRA Natera Inc Health Care S US USD 2,249 231.14 $519,834 0.63% INSW International Seaways Inc Energy S US USD 8,637 59.65 $515,197 0.62% HXL Hexcel Corp Industrials S US USD 5,781 82.81 $478,725 0.58% EXP Eagle Materials Inc Materials S US USD 2,300 203.81 $468,763 0.57% TTI TETRA Technologies Inc Energy S US USD 40,070 11.40 $456,798 0.55% ACVA ACV Auctions Inc, Class A Industrials S US USD 55,928 7.81 $436,798 0.53% WEAV Weave Communications Inc Information Technology S US USD 65,718 6.50 $427,167 0.51% RYI Ryerson Holding Corp Materials S US USD 14,618 28.22 $412,520 0.50% VERA Vera Therapeutics Inc, Class A Health Care S US USD 8,882 43.26 $384,235 0.46% BLDR Builders FirstSource Inc Industrials S US USD 3,304 114.40 $377,978 0.46% FLR Fluor Corp Industrials S US USD 7,270 46.19 $335,801 0.40% TRVI Trevi Therapeutics Inc Health Care S US USD 31,697 10.47 $331,868 0.40% COHR Coherent Corp Information Technology S US USD 1,547 212.18 $328,242 0.40% WING Wingstop Inc Consumer Discretionary S US USD 1,222 265.43 $324,355 0.39% ODD Oddity Tech Ltd, Class A Consumer Staples S IL USD 9,842 32.84 $323,211 0.39% MPWR Monolithic Power Systems Inc Information Technology S US USD 269 1,124.15 $302,396 0.36% CRS Carpenter Technology Corp Industrials S US USD 940 317.83 $298,760 0.36% PWP Perella Weinberg Partners, Class A Financials S US USD 13,350 22.31 $297,839 0.36% BWIN Baldwin Insurance Group Inc, Class A Financials S US USD 13,242 21.92 $290,265 0.35% RVMD REVOLUTION Medicines Inc Health Care S US USD 2,816 96.95 $273,011 0.33% TKR Timken Co Industrials S US USD 2,880 93.19 $268,387 0.32% CACI CACI International Inc, Class A Industrials S US USD 407 620.58 $252,576 0.30% DLB Dolby Laboratories Inc, Class A Information Technology S US USD 3,772 64.19 $242,125 0.29% EVTL Vertical Aerospace Ltd Industrials S GB USD 51,334 4.71 $241,783 0.29% CGNX Cognex Corp Information Technology S US USD 6,145 38.74 $238,057 0.29% SILA Sila Realty Trust Inc, Class A Real Estate S US USD 9,748 24.35 $237,364 0.29% AVTR Avantor Inc Health Care S US USD 21,725 10.92 $237,237 0.29% IONQ Ionq Inc Information Technology S US USD 5,386 39.98 $215,332 0.26% PRCT PROCEPT BioRobotics Corp Health Care S US USD 7,361 28.96 $213,175 0.26% INOD Innodata Inc Industrials S US USD 3,606 55.44 $199,917 0.24% PLNT Planet Fitness Inc, Class A Consumer Discretionary S US USD 2,102 91.04 $191,366 0.23% MP MP Materials Corp Materials S US USD 2,886 58.77 $169,610 0.20% FLYW Flywire Corp Financials S US USD 12,166 12.60 $153,292 0.18% SG Sweetgreen Inc, Class A Consumer Discretionary S US USD 23,711 6.14 $145,586 0.18% RSI Rush Street Interactive Inc, Class A Consumer Discretionary S US USD 7,637 17.67 $134,946 0.16% ENVX Enovix Corp Industrials S US USD 20,200 6.62 $133,724 0.16% VCEL Vericel Corp Health Care S US USD 3,454 35.98 $124,275 0.15% ALHC Alignment Healthcare Inc Health Care S US USD 5,488 22.53 $123,645 0.15% STAG STAG Industrial Inc Real Estate S US USD 3,207 37.51 $120,295 0.15% MHO M/I Homes Inc Consumer Discretionary S US USD 745 133.70 $99,607 0.12% PSN Parsons Corp Industrials S US USD 1,313 70.06 $91,989 0.11% PCOR Procore Technologies Inc Information Technology S US USD 1,462 56.49 $82,588 0.10% PODD Insulet Corp Health Care S US USD 254 255.81 $64,976 0.08% AGCO AGCO Corp Industrials S US USD 384 113.41 $43,549 0.05% SLNO Soleno Therapeutics Inc Health Care S US USD 699 38.56 $26,953 0.03% IRT Independence Realty Trust Inc Real Estate S US USD 1,549 16.70 $25,868 0.03% ZETA Zeta Global Holdings Corp, Class A Information Technology S US USD 1,305 18.58 $24,247 0.03% SHLS Shoals Technologies Group Inc, Class A Industrials S US USD 2,286 9.44 $21,580 0.03% SYM Symbotic Inc, Class A Industrials S US USD 300 54.37 $16,311 0.02% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 151 92.44 $13,958 0.02% MOD Modine Manufacturing Co Industrials S US USD 69 184.66 $12,742 0.02% TER Teradyne Inc Information Technology S US USD 40 241.05 $9,642 0.01% ADC Agree Realty Corp Real Estate S US USD 119 72.23 $8,595 0.01% NMIH NMI Holdings Inc, Class A Financials S US USD 208 38.72 $8,054 0.01% MGNI Magnite Inc [MGNI] Consumer Discretionary S US USD 549 14.47 $7,944 0.01% KD Kyndryl Holdings Inc Information Technology S US USD 331 23.00 $7,613 0.01% U Unity Software Inc Information Technology S US USD 204 29.10 $5,936 0.01% Cash & Equivalents Cash C US USD - - $392,038 0.47% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Coherent Corp 1 3.43% 71.34% Amentum Holdings Inc 2 2.62% 21.09% MKS Inc 3 1.86% 29.24% Apogee Therapeutics Inc 4 0.98% 89.98% Bridgebio Pharma Inc 5 1.44% 47.27% Allegiant Travel Co, Class A 6 1.30% 40.32% Teradyne Inc 7 0.92% 40.70% Natera Inc 8 1.38% 42.32% Digitalocean Holdings Inc 9 1.39% 40.87% Intuitive Machines Inc, Class A 10 0.73% 54.28% As of: 12/31/2025 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 Better Home & Finance Holding Co, Class A 20 0.74% -48.57% Entegris Inc 19 3.86% -8.81% Ionq Inc 18 0.91% -27.04% Parsons Corp 17 1.08% -25.47% Pagaya Technologies Ltd, Class A 16 0.86% -29.61% Eagle Materials Inc 15 2.38% -11.24% Stride Inc 14 0.26% -56.41% indie Semiconductor Inc, Class A 13 1.94% -13.27% Ultragenyx Pharmaceutical Inc 12 0.95% -23.54% Pure Storage Inc, Class A 11 0.93% -20.05% As of: 12/31/2025 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: 12/31/2025 View Allocation Details Allocation Details AMG Frontier Small Cap Growth Fund (MSSYX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell 2000® Growth Index Information Technology 29.76% 21.18% Industrials 27.62% 21.74% Health Care 16.10% 25.82% Consumer Discretionary 9.45% 8.03% Financials 7.81% 9.85% Materials 3.56% 3.50% Consumer Staples 1.93% 2.05% Real Estate 1.68% 2.16% Energy 1.46% 2.83% Cash & Other 0.62% 0.00% Communication Services 0.00% 2.34% Utilities 0.00% 0.51% As of: 12/31/2025 Investment Allocation 12/31/2025 Stocks 99.38% Bonds 0.00% Cash and Other 0.62% As of: 12/31/2025 Industry Fund Russell 2000® Growth Index Semiconductors & Semiconductor Equipment 14.50% 5.02% Biotechnology 12.27% 12.62% Software 6.83% 8.82% Passenger Airlines 5.25% 0.48% Aerospace & Defense 5.12% 2.93% IT Services 4.31% 0.70% Banks 4.13% 2.53% Ground Transportation 4.10% 0.10% Professional Services 3.42% 2.70% Hotels, Restaurants & Leisure 3.39% 2.51% % in Top 10 Industries 63.32% 38.41% As of: 12/31/2025 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 SmallCap 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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