Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class Z N I Z NAV | as of 06/20/2025 $27.44 -$0.13 (-0.47%) Morningstar | Style Box V B G L M S Morningstar Rating Rated against 575 Small Blend funds as of 05/31/2025 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 02/24/2017 to 05/31/2025 = $15,514.97 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 or visit our website at amgfunds.com. 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 capital appreciation Why Consider Provides investors with exposure to a portfolio of undervalued small cap companies that demonstrate positive business momentum Employs a fundamental, research-oriented investment process that is built on the belief that a company’s ability to generate consistent, long-term sustainable earnings growth will drive enhanced stock price performance over time Manages risk through portfolio diversification and a strong sell discipline Documents Fact Sheet Commentary Summary Prospectus Prospectus 2024 Distributions View All Documents Investment Style AMG GW&K Small Cap Value Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective AMG GW&K Small Cap Value Fund is categorized as Small-Value. It invests in small-cap companies with low risk. Morningstar Ratings Risk-adjusted returns as of 05/31/2025 Overall Rating (of 575) 3 Years (of 575) 5 Years (of 554) 10 Years — Category Small Blend Read Important Investment Disclosures Daniel L. Miller, CFA PARTNER AND DIRECTOR OF EQUITIES Dan is a partner of the firm and brings over four decades of investment management experience to GW&K. As director of our equity department, he is responsible for overseeing all aspects of our equity investment teams including portfolio management, research, and trading. He is a member of the firm’s Management, Investment, and ESG Committees. Dan has worked with various companies in the Boston area as an investment and financial consultant. Prior to joining GW&K, he spent 21 years at Putnam Investments in Boston, where he was chief investment officer for the specialty growth group and oversaw a team of twenty and up to $100 billion in assets under management. He was also a portfolio management team member of several small and mid cap growth funds, the lead manager for the Putnam New Opportunities Fund, and a member of Putnam’s management committee and partners group. He began his career as an analyst at Morgan Stanley. Dan graduated from the University of California, Berkeley, with highest honors, and received his MBA from Stanford University Graduate School of Business. He is a CFA® charterholder and is a member of the CFA Institute and the CFA Society Boston. Dan serves on the board of trustees for The Rashi School in Dedham, Massachusetts. Jeffrey O. Whitney, CFA PARTNER, PORTFOLIO MANAGER Jeff is a portfolio manager for the GW&K Small Cap Value Strategy and provides research coverage for our other domestic equity strategies. He is a seasoned analyst with extensive experience analyzing companies and identifying investment opportunities in the Financial and Real Estate sectors. Jeff is a member of the firm’s Investment Committee. Through his 20+ years working in investment research, Jeff has gained a broad market perspective covering a wide variety of sectors including Health Care, Technology, Financials, and Real Estate. Prior to joining GW&K, Jeff was an assistant portfolio manager at ING Investment Management and a vice president and equity analyst at J.P. Morgan Fleming Asset Management. He started his investment career working for Dean Witter Intercapital as an investment management associate. Jeff earned a BS in Finance from Central Connecticut State University and an MBA from Vanderbilt University. He is a CFA® charterholder and is a member of the CFA Institute and the CFA Society Boston. 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 or visit our website at amgfunds.com. 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. Expense Ratios Gross Expense Ratio: 0.94% Net Expense Ratio: 0.90% Expense Cap Expiration Date: 05/01/2026 The Fund’s Investment Manager has contractually agreed, through 05/01/2026, 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 $2.705900 $0.332800 $0.339400 $2.033700 Dec 14, 2023 $0.522300 $0.267400 — $0.254900 Dec 15, 2022 $0.506500 $0.224000 $0.127800 $0.154700 Dec 15, 2021 $0.804800 $0.202900 $0.526100 $0.075800 Aug 05, 2021 $3.730000 $0.101000 $2.370800 $1.258200 Dec 09, 2020 $11.610800 $0.165200 $0.579700 $10.865900 Dec 16, 2019 $2.941300 $0.402700 — $2.538600 Dec 27, 2018 $4.635700 — $0.384900 $4.250800 Dec 27, 2017 $2.968000 — $0.756200 $2.211800 From: To: Risk & Return Statistics As of: 05/31/2025 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. 1.16 1.70 - 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. 22.97 21.05 - 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. -0.06 0.49 - 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. 97.94 90.72 - 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. 97.32 94.88 - 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. 0.96 0.93 - 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. 95.96 94.05 - 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. 4.69 5.35 - View All Characteristics & Statistics All Characteristics & Statistics AMG GW&K Small Cap Value Fund (SKSZX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell 2000® Value Index Fund Assets (Mil.$) $205 Number of Holdings 84 1,426 Weighted Avg. Market Cap (Mil.$) $3,555 $2,876 Median Market Cap (Mil.$) $2,885 $691 Weighted Avg. P/E (1-yr Forward EPS) 14.56 12.27 Weighted Avg. P/E (Trailing EPS) 16.48 14.18 PEG Ratio 1.27 1.07 Weighted Avg. P/B 1.61 1.19 EPS Growth (Trailing 3-yr %) -3.32% -4.04% EPS Growth (Trailing 5-yr %) 6.60% 5.43% Forward EPS Growth (1-yr %) 10.92% 2.90% Forward EPS Growth (Long Term %) 8.25% 9.32% Revenue Growth (Trailing 5-yr %) 12.37% 9.40% Return on Equity 9.42% 4.85% Weighted Avg. Dividend Yield 1.91% 2.34% Debt to Equity 74.66 80.03 Trailing 12-Months Portfolio Turnover 25.25% As of: 03/31/2025 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. 1.16 1.70 - 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. 22.97 21.05 - 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. -0.06 0.49 - 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. 97.94 90.72 - 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. 97.32 94.88 - 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. 0.96 0.93 - 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. 95.96 94.05 - 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. 4.69 5.35 - 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. 0.23 0.19 - 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. -1.47 11.00 - 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. -20.16 -21.65 - As of: 05/31/2025 Market Cap Fund Russell 2000® Value Index Market Cap ($mm) 0 - 1,000 7.14% 19.92% Market Cap ($mm) 1,000 - 1,500 8.00% 11.74% Market Cap ($mm) 1,500 - 2,500 22.39% 18.62% Market Cap ($mm) 2,500 - 5,000 43.66% 37.80% Market Cap ($mm) 5,000 - 10,000 18.80% 11.40% Market Cap ($mm) 10,000 - 25,000 0.00% 0.53% Market Cap ($mm) 25,000 - 50,000 0.00% 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 ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 03/31/2025 Valuation Characteristics Fund Russell 2000® Value Index P/E 0-10 10.65% 16.29% P/E 10-15 22.33% 22.05% P/E 15-20 11.35% 11.48% P/E 20-25 11.36% 6.51% P/E 25-Above 34.05% 24.24% P/E – NA 10.27% 19.42% As of: 03/31/2025 Growth Characteristics Fund Russell 2000® Value Index EPS Growth (Trailing 3-yr %) - Negative 49.52% 36.61% EPS Growth (Trailing 3-yr %) 0 - 5 6.31% 10.44% EPS Growth (Trailing 3-yr %) 5 - 10 12.55% 5.09% EPS Growth (Trailing 3-yr %) 10 - 15 6.36% 5.70% EPS Growth (Trailing 3-yr %) 15 - 20 4.51% 3.05% EPS Growth (Trailing 3-yr %) Above 20 3.09% 11.47% EPS Growth (Trailing 3-yr %) - NA 17.67% 27.66% As of: 03/31/2025 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 03/31/2025 Group 1 Automotive Inc 2.50% Independence Realty Trust Inc 2.42% Federal Agricultural Mortgage Corp 2.27% Integer Holdings Corp 2.15% Selective Insurance Group Inc 2.11% CBIZ Inc 2.04% International Bancshares Corp 1.86% Ameris Bancorp 1.81% IMAX Corp 1.76% Supernus Pharmaceuticals Inc 1.67% % in Top 10 Holdings 20.58% View Holding Details Holding Details AMG GW&K Small Cap Value Fund (SKSZX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 03/31/2025 Group 1 Automotive Inc 2.50% Independence Realty Trust Inc 2.42% Federal Agricultural Mortgage Corp 2.27% Integer Holdings Corp 2.15% Selective Insurance Group Inc 2.11% CBIZ Inc 2.04% International Bancshares Corp 1.86% Ameris Bancorp 1.81% IMAX Corp 1.76% Supernus Pharmaceuticals Inc 1.67% % in Top 10 Holdings 20.58% As of: 03/31/2025 Download All Holdings (PDF) As of: 05/31/2025 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund AGM Federal Agricultural Mortgage Corp Financials S US USD 23,979 186.42 $4,470,165 2.30% ITGR Integer Holdings Corp Health Care S US USD 36,046 118.76 $4,280,823 2.20% IRT Independence Realty Trust Inc Real Estate S US USD 225,952 18.59 $4,200,448 2.16% SEI Solaris Energy Infrastructure Inc, Class A Energy S US USD 151,990 27.43 $4,169,086 2.14% PRIM Primoris Services Corp Industrials S US USD 56,915 72.11 $4,104,141 2.11% TTMI TTM Technologies Inc Information Technology S US USD 136,100 29.86 $4,063,946 2.09% SIGI Selective Insurance Group Inc Financials S US USD 45,660 88.02 $4,018,993 2.07% CBZ CBIZ Inc Industrials S US USD 53,316 72.24 $3,851,548 1.98% ABCB Ameris Bancorp Financials S US USD 62,478 61.47 $3,840,523 1.97% IMAX IMAX Corp Communication Services S CA USD 132,070 27.85 $3,678,150 1.89% IBOC International Bancshares Corp Financials S US USD 58,450 62.63 $3,660,724 1.88% GPI Group 1 Automotive Inc Consumer Discretionary S US USD 8,127 423.92 $3,445,198 1.77% SLGN Silgan Holdings Inc Materials S US USD 59,765 55.07 $3,291,259 1.69% SUPN Supernus Pharmaceuticals Inc Health Care S US USD 101,581 31.70 $3,220,118 1.66% ADC Agree Realty Corp Real Estate S US USD 42,424 75.30 $3,194,527 1.64% WNS WNS Holdings Ltd Industrials S IN USD 54,445 57.99 $3,157,266 1.62% IDA IDACORP Inc Utilities S US USD 26,189 118.95 $3,115,182 1.60% GENI Genius Sports Ltd Consumer Discretionary S GB USD 320,300 9.59 $3,071,677 1.58% CHCO City Holding Co Financials S US USD 26,034 117.89 $3,069,148 1.58% LGND Ligand Pharmaceuticals Inc Health Care S US USD 29,767 102.19 $3,041,890 1.56% FCPT Four Corners Property Trust Inc Real Estate S US USD 105,518 27.61 $2,913,352 1.50% SF Stifel Financial Corp Financials S US USD 30,619 94.22 $2,884,922 1.48% CENT Central Garden & Pet Co Consumer Staples S US USD 79,195 36.06 $2,855,772 1.47% EPRT Essential Properties Realty Trust Inc Real Estate S US USD 87,600 32.50 $2,847,000 1.46% UFPI UFP Industries Inc Industrials S US USD 29,070 97.56 $2,836,069 1.46% AUB Atlantic Union Bankshares Corp Financials S US USD 91,479 30.02 $2,746,200 1.41% PJT PJT Partners Inc, Class A Financials S US USD 17,952 150.66 $2,704,648 1.39% BOW Bowhead Specialty Holdings Inc Financials S US USD 71,691 37.30 $2,674,074 1.37% PIPR Piper Sandler Cos Financials S US USD 10,512 251.45 $2,643,242 1.36% WD Walker & Dunlop Inc Financials S US USD 38,053 68.49 $2,606,250 1.34% GTY Getty Realty Corp Real Estate S US USD 87,087 29.26 $2,548,166 1.31% CATY Cathay General Bancorp Financials S US USD 58,622 42.86 $2,512,246 1.29% MDU MDU Resources Group Inc Utilities S US USD 142,225 17.19 $2,444,848 1.26% GTES Gates Industrial Corp PLC Industrials S US USD 114,585 21.15 $2,423,473 1.25% GTLS Chart Industries Inc Industrials S US USD 15,436 156.86 $2,421,291 1.25% CBU Community Financial System Inc Financials S US USD 42,419 56.24 $2,385,645 1.23% STAG STAG Industrial Inc Real Estate S US USD 66,810 35.58 $2,377,100 1.22% FFBC First Financial Bancorp Financials S US USD 95,754 24.16 $2,313,417 1.19% CWH Camping World Holdings Inc, Class A Consumer Discretionary S US USD 140,600 16.26 $2,286,156 1.18% MGY Magnolia Oil & Gas Corp, Class A Energy S US USD 106,255 21.50 $2,284,483 1.17% TILE Interface Inc, Class A Industrials S US USD 113,360 20.09 $2,277,402 1.17% HWC Hancock Whitney Corp Financials S US USD 41,350 54.67 $2,260,605 1.16% AKR Acadia Realty Trust Real Estate S US USD 116,980 19.26 $2,253,035 1.16% AVT Avnet Inc Information Technology S US USD 43,780 50.01 $2,189,438 1.13% PDM Piedmont Office Realty Trust Inc, Class A Real Estate S US USD 306,475 7.12 $2,182,102 1.12% BOOT Boot Barn Holdings Inc Consumer Discretionary S US USD 13,578 160.31 $2,176,689 1.12% EFSC Enterprise Financial Services Corp Financials S US USD 40,550 52.94 $2,146,717 1.10% VIAV Viavi Solutions Inc Information Technology S US USD 235,230 9.11 $2,142,945 1.10% NWE Northwestern Energy Group Inc Utilities S US USD 37,328 55.33 $2,065,358 1.06% SWX Southwest Gas Holdings Inc Utilities S US USD 28,685 71.83 $2,060,444 1.06% VBTX Veritex Holdings Inc Financials S US USD 83,270 24.20 $2,015,134 1.04% PATK Patrick Industries Inc Consumer Discretionary S US USD 23,399 85.86 $2,009,038 1.03% MTDR Matador Resources Co, Class A Energy S US USD 45,406 43.01 $1,952,912 1.00% HLMN Hillman Solutions Corp Industrials S US USD 269,664 7.24 $1,952,367 1.00% AHH Armada Hoffler Properties Inc Real Estate S US USD 270,200 6.96 $1,880,592 0.97% NEO NeoGenomics Inc Health Care S US USD 257,314 7.28 $1,873,246 0.96% HMN Horace Mann Educators Corp Financials S US USD 43,000 43.43 $1,867,490 0.96% NSA National Storage Affiliates Trust Real Estate S US USD 53,250 34.40 $1,831,800 0.94% RARE Ultragenyx Pharmaceutical Inc Health Care S US USD 53,639 34.03 $1,825,335 0.94% GBCI Glacier Bancorp Inc Financials S US USD 43,880 41.47 $1,819,704 0.94% TPH Tri Pointe Homes Inc Consumer Discretionary S US USD 60,525 29.48 $1,784,277 0.92% DVAX Dynavax Technologies Corp, Class A Health Care S US USD 180,475 9.79 $1,766,850 0.91% MTX Minerals Technologies Inc Materials S US USD 30,446 56.78 $1,728,724 0.89% OCFC OceanFirst Financial Corp Financials S US USD 100,963 16.81 $1,697,188 0.87% CHRD Chord Energy Corp Energy S US USD 18,160 90.00 $1,634,400 0.84% AGIO Agios Pharmaceuticals Inc Health Care S US USD 50,460 32.09 $1,619,261 0.83% SBCF Seacoast Banking Corp of Florida Financials S US USD 62,397 25.83 $1,611,715 0.83% ARHS Arhaus Inc, Class A Consumer Discretionary S US USD 178,695 8.98 $1,604,681 0.83% WS Worthington Steel Inc Materials S US USD 63,618 24.90 $1,584,088 0.81% BAND Bandwidth Inc, Class A Communication Services S US USD 112,897 14.02 $1,582,816 0.81% WSBC WesBanco Inc Financials S US USD 49,453 30.78 $1,522,163 0.78% PR Permian Resources Corp, Class A Energy S US USD 117,978 12.61 $1,487,703 0.76% CRC California Resources Corp Energy S US USD 30,735 44.17 $1,357,565 0.70% COMP Compass Inc, Class A Real Estate S US USD 223,450 5.91 $1,320,590 0.68% ECG Everus Construction Group Inc Industrials S US USD 20,248 57.91 $1,172,562 0.60% ZD Ziff Davis Inc Communication Services S US USD 35,700 32.44 $1,158,108 0.60% OEC Orion SA Materials S US USD 84,351 10.89 $918,582 0.47% CENTA Central Garden & Pet Co, Class A Consumer Staples S US USD 18,851 31.97 $602,666 0.31% Cash & Equivalents Cash C US USD - - $2,891,622 1.49% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Paragon 28, Inc. 1 1.10% 26.14% WNS Holdings Ltd 2 1.08% 29.75% Bowhead Specialty Holdings Inc 3 1.14% 14.44% Agree Realty Corp 4 1.45% 10.35% Independence Realty Trust Inc 5 2.12% 7.58% Genius Sports Ltd 6 0.77% 11.97% Magnolia Oil & Gas Corp, Class A 7 1.19% 8.52% Northwestern Energy Group Inc 8 0.94% 9.14% IDACORP Inc 9 1.37% 6.93% First Watch Restaurant Group Inc 10 0.26% 10.85% As of: 03/31/2025 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 NeoGenomics Inc 20 1.17% -42.42% Solaris Energy Infrastructure Inc, Class A 19 1.98% -24.11% Columbus McKinnon Corporation 18 0.60% -50.79% Primoris Services Corp 17 1.93% -24.78% Chart Industries Inc 16 1.32% -24.36% Camping World Holdings Inc, Class A 15 0.63% -29.55% Group 1 Automotive Inc 14 2.65% -9.31% Atlantic Union Bankshares Corp 13 1.51% -17.27% Ziff Davis Inc 12 0.80% -30.84% Academy Sports & Outdoors Inc 11 1.12% -20.58% As of: 03/31/2025 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: 03/31/2025 View Allocation Details Allocation Details AMG GW&K Small Cap Value Fund (SKSZX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell 2000® Value Index Financials 28.44% 30.66% Real Estate 13.03% 11.39% Industrials 11.59% 12.29% Consumer Discretionary 9.94% 8.74% Health Care 9.23% 8.51% Energy 8.27% 6.87% Information Technology 5.48% 6.03% Utilities 4.32% 5.88% Materials 3.86% 3.93% Communication Services 3.17% 3.17% Consumer Staples 1.77% 2.54% Cash & Other 0.89% 0.00% As of: 03/31/2025 Investment Allocation 03/31/2025 Stocks 99.11% Bonds 0.00% Cash and Other 0.89% As of: 03/31/2025 Industry Fund Russell 2000® Value Index Banks 16.95% 20.55% Oil, Gas & Consumable Fuels 6.61% 4.79% Specialty Retail 5.43% 2.43% Retail REITs 4.25% 2.43% Capital Markets 4.01% 0.71% Financial Services 3.91% 3.62% Professional Services 3.70% 0.98% Insurance 3.58% 2.73% Pharmaceuticals 3.25% 1.21% Machinery 3.16% 2.52% % in Top 10 Industries 54.85% 41.97% As of: 03/31/2025 Read Important Investment Disclosures About the Affiliate About GW&K Investment Management GW&K Investment Management is a dynamic investment management firm that offers asset allocation, active equity, and fixed income investment solutions to help meet the needs of a diverse client base. GW&K’s founding principles of applying rigorous fundamental research, focusing on quality, and maintaining a long-term view still guide its investment process today. Learn More About GW&K Investment Management's Approach FOUNDED 1974 AMG AFFILIATE SINCE 2008 HEADQUARTERS Boston, MA Portfolio Managers Daniel L. Miller, CFA PARTNER AND DIRECTOR OF EQUITIES Read full bio Jeffrey O. Whitney, CFA PARTNER, PORTFOLIO MANAGER Read full bio Investment Approach Investment Approach AMG GW&K Small Cap Value Fund The Fund primarily invests in undervalued small cap companies GW&K believes quality small cap companies trading at low valuation levels offer attractive opportunities for stock price appreciation over time. Companies that can generate sustainable earnings growth possess these key attributes: A high quality management team focused on enhancing long-term value for shareholders. Experienced and motivated management Improving business model Catalyst for positive market revaluation GW&K seeks to add value through a fundamental research process and proprietary screening. A disciplined long-term research focus seeks to identify well-managed, undervalued companies with improving fundamental and financial characteristics Related products Other Products From GW&K Investment Management MBGVX AMG GW&K Core Bond ESG Fund View Fund Details MGFIX AMG GW&K ESG Bond Fund View Fund Details MECAX AMG GW&K International Small Cap Fund View Fund Details GWMTX AMG GW&K Municipal Bond Fund View Fund Details MESHX AMG GW&K Municipal Enhanced SMA Shares View Fund Details GWMNX AMG GW&K Municipal Enhanced Yield Fund View Fund Details GWETX AMG GW&K Small Cap Core Fund View Fund Details GWGVX AMG GW&K Small/Mid Cap Core Fund View Fund Details ACWDX AMG GW&K Small/Mid Cap Growth Fund View Fund Details Stay up-to-date Sign up to receive our latest views and thinking, in addition to other news and product-related information. CHOOSE SUBSCRIPTIONS