Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class Z N I Z NAV | as of 11/13/2025 $9.82 -$0.34 (-3.35%) 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 01/01/2010 to 10/31/2025 = $63,313.53 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: 1.14% 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, 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: 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. -0.67 2.96 2.78 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. 21.58 23.01 23.05 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 0.36 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. 103.22 106.13 107.86 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. 108.62 98.11 99.14 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. 90.08 90.05 91.36 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. 6.89 7.34 6.87 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.$) $77 Number of Holdings 120 Weighted Avg. Market Cap (Mil.$) $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. -0.67 2.96 2.78 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. 21.58 23.01 23.05 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 0.36 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. 103.22 106.13 107.86 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. 108.62 98.11 99.14 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. 90.08 90.05 91.36 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. 6.89 7.34 6.87 Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -0.13 0.36 0.40 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. 7.96 8.45 9.80 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: 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 ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 09/30/2025 Valuation Characteristics Fund Russell 2000® Growth Index P/E 0-10 3.61% 2.34% P/E 10-15 7.18% 5.03% P/E 15-20 12.49% 7.56% P/E 20-25 7.09% 8.16% P/E 25-Above 49.99% 46.27% P/E – NA 19.65% 30.63% As of: 09/30/2025 Growth Characteristics Fund Russell 2000® Growth Index EPS Growth (Trailing 3-yr %) - Negative 38.64% 14.04% EPS Growth (Trailing 3-yr %) 0 - 5 2.85% 3.89% EPS Growth (Trailing 3-yr %) 5 - 10 1.14% 2.55% EPS Growth (Trailing 3-yr %) 10 - 15 3.98% 4.46% EPS Growth (Trailing 3-yr %) 15 - 20 3.73% 5.48% EPS Growth (Trailing 3-yr %) Above 20 10.44% 23.16% EPS Growth (Trailing 3-yr %) - NA 39.22% 46.42% As of: 09/30/2025 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 09/30/2025 Entegris Inc 4.49% Coherent Corp 4.02% Silicon Motion Technology Corp ADR 3.42% Eagle Materials Inc 3.13% MKS Inc 2.85% FTAI Aviation Ltd 2.83% Alaska Air Group Inc 2.43% Carlyle Group Inc 2.35% Granite Construction Inc 2.20% Teradyne Inc 2.19% % in Top 10 Holdings 29.92% View Holding Details Holding Details AMG Frontier Small Cap Growth Fund (MSSYX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 09/30/2025 Entegris Inc 4.49% Coherent Corp 4.02% Silicon Motion Technology Corp ADR 3.42% Eagle Materials Inc 3.13% MKS Inc 2.85% FTAI Aviation Ltd 2.83% Alaska Air Group Inc 2.43% Carlyle Group Inc 2.35% Granite Construction Inc 2.20% Teradyne Inc 2.19% % in Top 10 Holdings 29.92% As of: 09/30/2025 Download All Holdings (PDF) As of: 10/31/2025 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund ENTG Entegris Inc Information Technology S US USD 37,460 91.57 $3,430,212 4.34% COHR Coherent Corp Information Technology S US USD 24,290 131.96 $3,205,308 4.06% SIMO Silicon Motion Technology Corp ADR Information Technology S TW USD 24,471 98.11 $2,400,850 3.04% EXP Eagle Materials Inc Materials S US USD 10,637 212.32 $2,258,448 2.86% FTAI FTAI Aviation Ltd Industrials S KY USD 11,573 172.90 $2,000,972 2.53% INDI indie Semiconductor Inc, Class A Information Technology S US USD 351,704 5.38 $1,892,168 2.40% AMTM Amentum Holdings Inc Industrials S US USD 79,173 22.41 $1,774,267 2.25% RRX Regal Rexnord Corp Industrials S US USD 12,145 140.89 $1,711,109 2.17% ALK Alaska Air Group Inc Industrials S US USD 40,306 41.73 $1,681,969 2.13% GVA Granite Construction Inc Industrials S US USD 15,281 102.91 $1,572,568 1.99% MKSI MKS Inc Information Technology S US USD 10,816 143.71 $1,554,367 1.97% SANM Sanmina Corp Information Technology S US USD 10,656 137.05 $1,460,405 1.85% MDB MongoDB Inc, Class A Information Technology S US USD 3,953 359.82 $1,422,368 1.80% DBRG DigitalBridge Group Inc, Class A Financials S US USD 109,883 11.83 $1,299,916 1.65% TER Teradyne Inc Information Technology S US USD 6,573 181.76 $1,194,708 1.51% DAR Darling Ingredients Inc Consumer Staples S US USD 34,625 32.05 $1,109,731 1.41% NTRA Natera Inc Health Care S US USD 5,387 198.93 $1,071,636 1.36% DOCN Digitalocean Holdings Inc Information Technology S US USD 25,870 40.66 $1,051,874 1.33% PSN Parsons Corp Industrials S US USD 12,332 83.14 $1,025,282 1.30% BBIO Bridgebio Pharma Inc Health Care S US USD 15,918 62.64 $997,104 1.26% BLDR Builders FirstSource Inc Industrials S US USD 8,544 116.17 $992,556 1.26% PSTG Pure Storage Inc, Class A Information Technology S US USD 9,978 98.70 $984,829 1.25% GTX Garrett Motion Inc Consumer Discretionary S CH USD 56,865 16.94 $963,293 1.22% IONQ Ionq Inc Information Technology S US USD 14,725 62.38 $918,546 1.16% CWK Cushman & Wakefield PLC Real Estate S US USD 57,581 15.70 $904,022 1.14% BETR Better Home & Finance Holding Co, Class A Financials S US USD 12,003 73.21 $878,740 1.11% SAIA Saia Inc Industrials S US USD 2,956 292.50 $864,630 1.09% KYMR Kymera Therapeutics Inc Health Care S US USD 13,670 61.84 $845,353 1.07% BPOP Popular Inc Financials S PR USD 7,578 111.47 $844,720 1.07% CRDO Credo Technology Group Holding Ltd Information Technology S US USD 4,392 187.62 $824,027 1.04% UCTT Ultra Clean Holdings Inc Information Technology S US USD 30,033 27.41 $823,205 1.04% LAD Lithia Motors Inc, Class A Consumer Discretionary S US USD 2,616 314.08 $821,633 1.04% SNCY Sun Country Airlines Holdings Inc Industrials S US USD 66,668 12.28 $818,683 1.04% ALGT Allegiant Travel Co, Class A Industrials S US USD 12,889 62.18 $801,438 1.01% GENI Genius Sports Ltd Consumer Discretionary S GB USD 69,773 11.26 $785,644 0.99% RNST Renasant Corp Financials S US USD 22,498 33.63 $756,608 0.96% RARE Ultragenyx Pharmaceutical Inc Health Care S US USD 21,685 34.60 $750,301 0.95% MOD Modine Manufacturing Co Consumer Discretionary S US USD 4,846 153.21 $742,456 0.94% CG Carlyle Group Inc Financials S US USD 13,845 53.32 $738,215 0.93% BILL BILL Holdings Inc Information Technology S US USD 14,550 49.66 $722,553 0.91% HXL Hexcel Corp Industrials S US USD 9,877 71.40 $705,218 0.89% LSCC Lattice Semiconductor Corp Information Technology S US USD 9,575 72.96 $698,592 0.88% MAT Mattel Inc Consumer Discretionary S US USD 37,769 18.38 $694,194 0.88% AXSM Axsome Therapeutics Inc Health Care S US USD 4,997 134.99 $674,545 0.85% ASH Ashland Inc Materials S US USD 13,780 48.90 $673,842 0.85% TMDX TransMedics Group Inc Health Care S US USD 5,076 131.54 $667,697 0.85% BWXT BWX Technologies Inc Industrials S US USD 3,094 213.61 $660,909 0.84% U Unity Software Inc Information Technology S US USD 17,206 37.90 $652,107 0.83% TFIN Triumph Financial Inc Financials S US USD 11,962 54.46 $651,451 0.82% LCII LCI Industries Consumer Discretionary S US USD 6,266 103.49 $648,468 0.82% AGCO AGCO Corp Industrials S US USD 6,273 103.16 $647,123 0.82% APGE Apogee Therapeutics Inc Health Care S US USD 11,367 56.59 $643,259 0.81% AVTR Avantor Inc Health Care S US USD 52,382 11.82 $619,155 0.78% FIP FTAI Infrastructure Inc Industrials S US USD 115,017 5.34 $614,191 0.78% FLR Fluor Corp Industrials S US USD 12,382 48.77 $603,870 0.76% PGY Pagaya Technologies Ltd, Class A Information Technology S US USD 22,128 26.89 $595,022 0.75% FLS Flowserve Corp Industrials S US USD 8,158 68.25 $556,784 0.71% CGNX Cognex Corp Information Technology S US USD 13,428 41.39 $555,785 0.70% DYN Dyne Therapeutics Inc Health Care S US USD 24,036 22.58 $542,733 0.69% ATI ATI Inc Industrials S US USD 5,270 98.97 $521,572 0.66% WEAV Weave Communications Inc Information Technology S US USD 69,830 7.41 $517,440 0.66% LUNR Intuitive Machines Inc, Class A Industrials S US USD 43,304 11.93 $516,617 0.65% LTH Life Time Group Holdings Inc Consumer Discretionary S US USD 20,810 24.73 $514,631 0.65% SBCF Seacoast Banking Corp of Florida Financials S US USD 16,203 30.30 $490,951 0.62% SILA Sila Realty Trust Inc, Class A Real Estate S US USD 20,306 23.70 $481,252 0.61% TDW Tidewater Inc Energy S US USD 9,415 50.59 $476,305 0.60% ATMU Atmus Filtration Technologies Inc Industrials S US USD 10,456 45.48 $475,539 0.60% KNX Knight-Swift Transportation Holdings Inc, Class A Industrials S US USD 10,490 45.12 $473,309 0.60% ERO ERO Copper Corp Materials S CA USD 21,625 21.35 $461,694 0.58% PCOR Procore Technologies Inc Information Technology S US USD 5,869 73.82 $433,250 0.55% INSW International Seaways Inc Energy S US USD 8,119 51.23 $415,936 0.53% RXO RXO Inc Industrials S US USD 23,284 17.73 $412,825 0.52% RVMD REVOLUTION Medicines Inc Health Care S US USD 6,866 58.84 $403,995 0.51% NUVL Nuvalent Inc, Class A Health Care S US USD 4,054 99.32 $402,643 0.51% UTHR United Therapeutics Corp Health Care S US USD 885 445.43 $394,206 0.50% ZETA Zeta Global Holdings Corp, Class A Information Technology S US USD 21,431 17.99 $385,544 0.49% DLB Dolby Laboratories Inc, Class A Information Technology S US USD 5,775 66.32 $382,998 0.48% SIGI Selective Insurance Group Inc Financials S US USD 4,829 75.34 $363,817 0.46% FLYW Flywire Corp Financials S US USD 27,257 13.32 $363,063 0.46% ADC Agree Realty Corp Real Estate S US USD 4,950 73.01 $361,400 0.46% TTI TETRA Technologies Inc Energy S US USD 47,308 7.06 $333,994 0.42% MPWR Monolithic Power Systems Inc Information Technology S US USD 319 1,005.00 $320,595 0.41% STRL Sterling Infrastructure Inc Industrials S US USD 839 377.90 $317,058 0.40% BURL Burlington Stores Inc Consumer Discretionary S US USD 1,108 273.59 $303,138 0.38% MHO M/I Homes Inc Consumer Discretionary S US USD 2,344 125.19 $293,445 0.37% TKR Timken Co Industrials S US USD 3,732 78.51 $292,999 0.37% MGNI Magnite Inc [MGNI] Consumer Discretionary S US USD 16,152 17.88 $288,798 0.37% RSI Rush Street Interactive Inc, Class A Consumer Discretionary S US USD 16,750 16.96 $284,080 0.36% SLNO Soleno Therapeutics Inc Health Care S US USD 4,136 67.16 $277,774 0.35% EPRT Essential Properties Realty Trust Inc Real Estate S US USD 9,038 29.88 $270,055 0.34% ENVX Enovix Corp Industrials S US USD 22,304 11.99 $267,425 0.34% CRS Carpenter Technology Corp Industrials S US USD 747 315.90 $235,977 0.30% IRT Independence Realty Trust Inc Real Estate S US USD 14,592 15.93 $232,451 0.29% PLNT Planet Fitness Inc, Class A Consumer Discretionary S US USD 2,410 90.69 $218,563 0.28% INOD Innodata Inc Industrials S US USD 2,827 74.61 $210,922 0.27% STAG STAG Industrial Inc Real Estate S US USD 5,411 38.27 $207,079 0.26% GWRE Guidewire Software Inc Information Technology S US USD 798 233.64 $186,445 0.24% VCEL Vericel Corp Health Care S US USD 4,354 35.06 $152,651 0.19% PRCT PROCEPT BioRobotics Corp Health Care S US USD 4,433 34.03 $150,855 0.19% ODD Oddity Tech Ltd, Class A Consumer Staples S IL USD 2,986 45.25 $135,117 0.17% WING Wingstop Inc Consumer Discretionary S US USD 537 216.63 $116,330 0.15% CZR Caesars Entertainment Inc Consumer Discretionary S US USD 5,278 20.10 $106,088 0.13% LRN Stride Inc Consumer Discretionary S US USD 1,463 68.04 $99,543 0.13% NVCR Novocure Ltd Health Care S JE USD 7,598 12.81 $97,330 0.12% CFLT Confluent Inc, Class A Information Technology S US USD 4,078 23.37 $95,303 0.12% NMIH NMI Holdings Inc, Class A Financials S US USD 2,552 36.43 $92,969 0.12% KD Kyndryl Holdings Inc Information Technology S US USD 2,780 28.92 $80,398 0.10% MXL MaxLinear Inc, Class A Information Technology S US USD 5,198 15.15 $78,750 0.10% INSP Inspire Medical Systems Inc Health Care S US USD 1,044 72.08 $75,252 0.10% SG Sweetgreen Inc, Class A Consumer Discretionary S US USD 11,504 6.29 $72,360 0.09% SHLS Shoals Technologies Group Inc, Class A Industrials S US USD 5,972 10.51 $62,766 0.08% RYI Ryerson Holding Corp Materials S US USD 2,666 22.06 $58,812 0.07% ACVA ACV Auctions Inc, Class A Industrials S US USD 5,769 9.07 $52,325 0.07% MP MP Materials Corp Materials S US USD 467 63.09 $29,463 0.04% SYM Symbotic Inc, Class A Industrials S US USD 312 80.95 $25,256 0.03% CACI CACI International Inc, Class A Industrials S US USD 41 562.25 $23,052 0.03% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 158 88.26 $13,945 0.02% PODD Insulet Corp Health Care S US USD 29 313.01 $9,077 0.01% TOST Toast Inc, Class A Financials S US USD 223 36.14 $8,059 0.01% ALAB Astera Labs Inc Information Technology S US USD 42 186.68 $7,841 0.01% Cash & Equivalents Cash C US USD - - $533,975 0.68% 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 (MSSYX) 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 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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