Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class N N I Z NAV | as of 05/16/2025 $16.60 +$0.06 (+0.36%) Morningstar | Style Box V B G L M S Growth of $10,000 (Hypothetical) Since Inception 01/02/2013 to 04/30/2025 = $20,075.89 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 to provide long-term capital appreciation by primarily investing in international small cap companies. Why Consider May be appropriate for investors looking to gain exposure to non-U.S. small cap companies TimesSquare leverages its wealth of experience investing in international small cap companies, relying on bottom-up research to identify growth businesses with exceptional management, distinct, sustainable competitive advantages and consistent growth Documents Fact Sheet Commentary Summary Prospectus Prospectus SAI 2024 Distributions View All Documents Investment Style AMG TimesSquare International Small Cap Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective AMG TimesSquare International Small Cap Fund is categorized as Mid-Growth. It invests in medium-cap companies with high risk. Morningstar Ratings Risk-adjusted returns as of 04/30/2025 Overall Rating (of 118) 3 Years (of 118) 5 Years (of 105) 10 Years (of 75) Category Foreign Small/Mid Growth Read Important Investment Disclosures Magnus S. Larsson DIRECTOR AND PORTFOLIO MANAGER Magnus Larsson is a Director and Portfolio Manager on TimesSquare’s International Small Cap team. Prior to joining TimesSquare in 2012, Mr. Larsson was a Portfolio Manager at Nordea Investment Management where he focused on European small and mid cap equities. Prior to Nordea, he held a similar role at SEB Asset Management as a Portfolio Manager focusing on European small and mid caps. Mr. Larsson's prior experience also includes a Financial Analyst role specializing in small and mid cap equity research with Borsinsikt and a position as an Institutional Equity Sales Director at Beeson Gregory. He holds a BS in economics and business administration from the University of Orebro, Sweden, as well as a BA in social science. David A. Hirsh Director & Portfolio Manager/Analyst David is a Director, Portfolio Manager/Analyst – Europe, and Partner on TimesSquare’s International Small Cap team, which covers Developed, Emerging, and Frontier markets. Prior to joining TimesSquare in 2012, David was a Senior Principal at HawkStone Capital, focusing on Europe. Prior to HawkStone, David worked at Societe Generale, Kepler Equities, and Julius Baer with a focus on small to mid cap European stocks. He holds a BA in international affairs from Lafayette College and is fluent in French. 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: 1.36% Net Expense Ratio: 1.30% Expense Cap Expiration Date: 05/01/2026 The Fund’s Investment Manager has contractually agreed, through May 1, 2025, 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 $0.396700 $0.396700 — — Dec 14, 2023 $0.242600 $0.242600 — — Dec 15, 2022 $0.108900 $0.108900 — — Dec 15, 2021 $0.175000 $0.175000 — — Dec 16, 2019 $0.241700 $0.241700 — — Dec 27, 2018 $0.099900 $0.099900 — — Dec 27, 2017 $0.129800 $0.059600 $0.057900 $0.012300 Dec 27, 2016 $0.229500 $0.068100 $0.011100 $0.150300 Dec 28, 2015 $0.612200 $0.166000 $0.411600 $0.034600 Dec 26, 2014 $0.418600 $0.144300 $0.081400 $0.192900 Dec 26, 2013 $0.488000 $0.393500 $0.094500 — From: To: Risk & Return Statistics As of: 04/30/2025 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. 0.10 -2.47 -1.51 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. 17.35 17.91 17.67 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. 0.02 0.18 0.10 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. 90.19 84.69 92.94 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. 94.79 101.03 101.59 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. 0.93 0.98 1.00 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. 90.67 88.84 89.27 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. 5.43 5.99 5.79 View All Characteristics & Statistics All Characteristics & Statistics AMG TimesSquare International Small Cap Fund (TCMPX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund MSCI EAFE Small Cap Index Fund Assets (Mil.$) $115 Number of Holdings 82 2,009 Weighted Avg. Market Cap (Mil.$) $3,932 $3,284 Median Market Cap (Mil.$) $3,632 $1,474 Weighted Avg. P/E (1-yr Forward EPS) 16.49 13.03 Weighted Avg. P/E (Trailing EPS) 16.65 13.89 PEG Ratio 1.87 1.30 Weighted Avg. P/B 2.16 1.26 EPS Growth (Trailing 3-yr %) 7.20% -0.19% EPS Growth (Trailing 5-yr %) 7.81% 6.07% Forward EPS Growth (1-yr %) 14.13% 9.77% Forward EPS Growth (Long Term %) 9.68% 8.34% Revenue Growth (Trailing 5-yr %) 8.30% 5.24% Return on Equity 15.90% 10.61% Weighted Avg. Dividend Yield 2.15% 3.14% Debt to Equity 61.12 71.42 Trailing 12-Months Portfolio Turnover 74.19% 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. 0.10 -2.47 -1.51 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. 17.35 17.91 17.67 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. 0.02 0.18 0.10 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. 90.19 84.69 92.94 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. 94.79 101.03 101.59 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. 0.93 0.98 1.00 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. 90.67 88.84 89.27 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. 5.43 5.99 5.79 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. -0.05 -0.50 -0.30 Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. 0.46 3.27 1.76 Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -19.27 -41.28 -41.28 As of: 04/30/2025 Market Cap Fund MSCI EAFE Small Cap Index Market Cap ($mm) 0 - 1,000 10.05% 10.88% Market Cap ($mm) 1,000 - 1,500 7.07% 11.55% Market Cap ($mm) 1,500 - 2,500 11.47% 21.50% Market Cap ($mm) 2,500 - 5,000 47.87% 38.79% Market Cap ($mm) 5,000 - 10,000 21.23% 16.21% Market Cap ($mm) 10,000 - 25,000 2.31% 1.07% Market Cap ($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 ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 03/31/2025 Valuation Characteristics Fund MSCI EAFE Small Cap Index P/E 0-10 8.57% 18.50% P/E 10-15 21.33% 22.81% P/E 15-20 22.64% 18.47% P/E 20-25 15.92% 12.09% P/E 25-Above 30.57% 22.32% P/E – NA 0.96% 5.82% As of: 03/31/2025 Growth Characteristics Fund MSCI EAFE Small Cap Index EPS Growth (Trailing 3-yr %) - Negative 25.54% 43.25% EPS Growth (Trailing 3-yr %) 0 - 5 18.15% 8.44% EPS Growth (Trailing 3-yr %) 5 - 10 4.79% 7.48% EPS Growth (Trailing 3-yr %) 10 - 15 7.10% 5.59% EPS Growth (Trailing 3-yr %) 15 - 20 7.53% 4.31% EPS Growth (Trailing 3-yr %) Above 20 23.47% 16.51% EPS Growth (Trailing 3-yr %) - NA 13.42% 14.43% As of: 03/31/2025 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 03/31/2025 KDX Realty Investment Corp, Class A 2.52% Azbil Corp 2.49% Daiei Kankyo Co Ltd 2.40% Viscofan SA 2.26% Alm Brand A/S 2.20% ABC-Mart Inc 2.13% Sopra Steria Group 2.05% Siegfried Holding Ag 2.04% Food & Life Cos Ltd 2.02% RENK Group AG 1.90% % in Top 10 Holdings 22.03% View Holding Details Holding Details AMG TimesSquare International Small Cap Fund (TCMPX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 03/31/2025 KDX Realty Investment Corp, Class A 2.52% Azbil Corp 2.49% Daiei Kankyo Co Ltd 2.40% Viscofan SA 2.26% Alm Brand A/S 2.20% ABC-Mart Inc 2.13% Sopra Steria Group 2.05% Siegfried Holding Ag 2.04% Food & Life Cos Ltd 2.02% RENK Group AG 1.90% % in Top 10 Holdings 22.03% As of: 03/31/2025 Download All Holdings (PDF) As of: 04/30/2025 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund 6845 Azbil Corp Information Technology S JP JPY 367,530 8.61 $3,164,909 2.64% 9336 Daiei Kankyo Co Ltd Industrials S JP JPY 147,700 20.49 $3,025,936 2.53% SFZN Siegfried Holding Ag Health Care S CH CHF 24,800 119.06 $2,952,604 2.46% 8972 KDX Realty Investment Corp, Class A Real Estate S JP JPY 2,830 1,041.37 $2,947,070 2.46% SOP Sopra Steria Group Information Technology S FR EUR 13,953 205.04 $2,860,908 2.39% ALMB Alm Brand A/S Financials S DK DKK 1,129,070 2.37 $2,676,593 2.23% 2670 ABC-Mart Inc Consumer Discretionary S JP JPY 131,040 18.60 $2,437,080 2.03% VIS Viscofan SA Consumer Staples S ES EUR 33,451 72.14 $2,413,204 2.01% 8174 Nippon Gas Co Ltd Utilities S JP JPY 127,650 18.44 $2,354,477 1.97% ALQ ALS Ltd Industrials S AU AUD 194,790 10.97 $2,137,326 1.78% TPEIR Piraeus Financial Holdings Sa Financials S GR EUR 380,372 5.62 $2,136,182 1.78% 3563 Food & Life Cos Ltd Consumer Discretionary S JP JPY 57,350 37.01 $2,122,250 1.77% 7649 Sugi Holdings Co Ltd Consumer Staples S JP JPY 100,901 21.01 $2,119,511 1.77% MAIRE Maire SpA Industrials S IT EUR 194,890 10.80 $2,104,919 1.76% BELA JUMBO SA Consumer Discretionary S GR EUR 66,310 31.49 $2,088,316 1.74% R3NK RENK Group AG Industrials S DE EUR 33,380 60.24 $2,010,949 1.68% RILBA Ringkjoebing Landbobank A/S Financials S DK DKK 10,330 191.20 $1,975,056 1.65% 5947 Rinnai Corp Consumer Discretionary S JP JPY 84,900 22.40 $1,901,629 1.59% 6368 Organo Corp Industrials S JP JPY 38,960 47.87 $1,864,973 1.56% TE Technip Energies NV Energy S FR EUR 54,270 34.12 $1,851,916 1.55% 5842 Integral Corp Financials S JP JPY 95,270 19.09 $1,818,645 1.52% 5838 Rakuten Bank Ltd Financials S JP JPY 41,750 42.06 $1,755,909 1.47% HEM Hemnet Group Ab Communication Services S SE SEK 50,760 34.33 $1,742,375 1.45% 3543 KOMEDA Holdings Co Ltd Consumer Discretionary S JP JPY 85,280 20.21 $1,723,843 1.44% GNC Greencore Group Plc Consumer Staples S IE GBP 688,000 2.47 $1,696,261 1.42% OR Osisko Gold Royalties Ltd Materials S CA CAD 70,290 23.97 $1,684,594 1.41% MRL Merlin Properties Socimi SA Real Estate S ES EUR 146,200 11.34 $1,657,949 1.38% HWDN Howden Joinery Group PLC Industrials S GB GBP 159,403 10.28 $1,639,221 1.37% UTG UNITE Group PLC Real Estate S GB GBP 142,080 11.49 $1,632,360 1.36% 4373 Simplex Holdings Inc Information Technology S JP JPY 76,540 21.17 $1,620,011 1.35% 9023 Tokyo Metro Co Ltd Industrials S JP JPY 127,820 12.67 $1,619,612 1.35% DHG Dalata Hotel Group PLC Consumer Discretionary S IE EUR 257,716 5.73 $1,477,285 1.23% 5805 Swcc Corp Industrials S JP JPY 30,800 45.44 $1,399,631 1.17% SDF Steadfast Group Ltd Financials S AU AUD 357,533 3.76 $1,343,561 1.12% IMD Imdex Ltd Materials S AU AUD 706,190 1.89 $1,335,967 1.12% CRW Craneware PLC Health Care S GB GBP 55,320 23.99 $1,327,291 1.11% VNT Ventia Services Group Pty Ltd Industrials S AU AUD 477,810 2.71 $1,293,664 1.08% AMBUB Ambu A/S, Class B Health Care S DK DKK 70,770 18.05 $1,277,436 1.07% 443060 HD Hyundai Marine Solution Co Ltd Industrials S KR KRW 11,520 108.01 $1,244,240 1.04% STJ St James's Place PLC Financials S GB GBP 98,680 12.61 $1,243,895 1.04% LXS Lanxess Ag Materials S DE EUR 41,400 30.02 $1,242,993 1.04% 9744 MEITEC Group Holdings Inc Industrials S JP JPY 60,530 20.53 $1,242,414 1.04% 6141 DMG Mori Co Ltd Industrials S JP JPY 69,770 17.38 $1,212,723 1.01% 268A Rigaku Holdings Corp Information Technology S JP JPY 196,610 6.16 $1,210,632 1.01% ACX Acerinox SA Materials S ES EUR 106,890 11.30 $1,207,995 1.01% FNOX Fortnox AB Information Technology S SE SEK 132,390 9.05 $1,198,782 1.00% GAW Games Workshop Group PLC Consumer Discretionary S GB GBP 5,810 205.94 $1,196,525 1.00% IOS Ionos Group Se Information Technology S DE EUR 35,500 33.36 $1,184,241 0.99% 3774 Internet Initiative Japan Inc Communication Services S JP JPY 63,730 18.54 $1,181,770 0.99% FBK FinecoBank Banca Fineco SpA Financials S IT EUR 57,113 20.01 $1,142,884 0.95% 4980 Dexerials Corp Information Technology S JP JPY 96,800 11.75 $1,137,310 0.95% 2345 Accton Technology Corp Information Technology S TW TWD 60,700 18.63 $1,130,619 0.94% DPLM Diploma PLC Industrials S GB GBP 20,720 53.06 $1,099,435 0.92% DLG De' Longhi SpA Consumer Discretionary S IT EUR 34,620 30.95 $1,071,379 0.89% NVMI Nova Ltd Information Technology S IL USD 5,400 196.21 $1,059,534 0.88% 1959 Kyudenko Corp Industrials S JP JPY 31,500 33.59 $1,058,055 0.88% VRNA Verona Pharma PLC ADR Health Care S GB USD 14,300 72.07 $1,030,601 0.86% NEX Nexans SA Industrials S FR EUR 9,310 109.86 $1,022,782 0.85% ARCO Arcos Dorados Holdings Inc, Class A Consumer Discretionary S UY USD 133,650 7.65 $1,022,423 0.85% 215A Timee Inc Industrials S JP JPY 85,020 12.01 $1,020,948 0.85% KCR Konecranes Oyj, Class A Industrials S FI EUR 15,130 67.00 $1,013,680 0.85% 4180 Appier Group Inc Information Technology S JP JPY 113,190 8.82 $998,677 0.83% CIE CIE Automotive SA Consumer Discretionary S ES EUR 35,927 26.44 $949,756 0.79% IP Interpump Group SpA Industrials S IT EUR 27,567 34.30 $945,487 0.79% AUTO Auto Trader Group PLC 144A Communication Services S GB GBP 77,820 11.23 $874,296 0.73% BOY Bodycote PLC Industrials S GB GBP 136,879 6.34 $868,313 0.72% 4419 Finatext Holdings Ltd Information Technology S JP JPY 121,220 6.56 $795,274 0.66% AALB Aalberts Nv Industrials S NL EUR 23,700 33.21 $786,997 0.66% ATE Alten SA Information Technology S FR EUR 9,110 84.76 $772,194 0.64% COA Coats Group Plc Consumer Discretionary S GB GBP 791,460 0.97 $766,471 0.64% IPS IPSOS SA Communication Services S FR EUR 15,330 47.34 $725,794 0.61% DAN Danieli & C Officine Meccaniche SpA Industrials S IT EUR 20,110 34.44 $692,600 0.58% SAABB Saab AB [BPXZH27] Industrials S SE SEK 14,520 46.56 $676,117 0.56% CAR CAR Group Ltd Communication Services S AU AUD 28,224 21.34 $602,422 0.50% ROR Rotork PLC Industrials S GB GBP 147,300 4.07 $599,772 0.50% KGX KION Group AG Industrials S DE EUR 14,030 42.56 $597,060 0.50% PSI Pason Systems Inc Energy S CA CAD 72,620 7.96 $578,389 0.48% ARCAD Arcadis NV Industrials S NL EUR 11,420 48.49 $553,768 0.46% TATE Tate & Lyle PLC Consumer Staples S GB GBP 69,394 7.45 $517,195 0.43% SAVE Nordnet AB publ Financials S SE SEK 19,357 26.47 $512,423 0.43% YUBICO Yubico AB Information Technology S SE SEK 16,130 20.03 $323,144 0.27% Cash & Equivalents Cash C US USD - - $4,300,385 3.59% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return RENK Group AG 1 1.46% 152.20% Food & Life Cos Ltd 2 2.11% 39.89% Rakuten Bank Ltd 3 1.23% 52.98% Saab AB [BPXZH27] 4 0.76% 85.28% Piraeus Financial Holdings Sa 5 1.41% 36.78% Fortnox AB 6 1.11% 32.70% Acerinox SA 7 1.79% 22.53% St James's Place PLC 8 1.64% 16.00% Technip Energies NV 9 1.53% 22.34% Sugi Holdings Co Ltd 10 1.61% 20.55% 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 Integral Corp 20 2.14% -29.34% Accton Technology Corp 19 1.28% -26.42% Johns Lyng Group Ltd 18 0.72% -27.74% Tate & Lyle PLC 17 1.28% -17.88% Organo Corp 16 1.36% -17.64% Rohto Pharmaceutical Co., Ltd. 15 0.70% -15.26% Craneware PLC 14 1.41% -12.90% Arcadis NV 13 0.90% -16.62% ABC-Mart Inc 12 2.12% -7.31% Interpump Group SpA 11 0.72% -19.75% 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 Regional Allocation As of: 03/31/2025 View Allocation Details Allocation Details AMG TimesSquare International Small Cap Fund (TCMPX) Sector Allocation (Equity) Investment Allocation Country Allocation Regional Allocation Top 10 Industries Sector Sort Order Fund MSCI EAFE Small Cap Index Industrials 25.68% 23.21% Information Technology 14.88% 8.46% Consumer Discretionary 14.54% 12.99% Financials 12.17% 13.16% Consumer Staples 6.00% 5.63% Materials 5.27% 9.92% Health Care 5.23% 5.73% Real Estate 4.87% 11.32% Communication Services 4.23% 4.38% Cash & Other 2.98% 0.00% Energy 2.33% 2.68% Utilities 1.80% 2.52% As of: 03/31/2025 Investment Allocation 03/31/2025 Stocks 97.02% Bonds 0.00% Cash and Other 2.98% As of: 03/31/2025 Country Fund MSCI EAFE Small Cap Index Japan 32.76% 36.59% United Kingdom 10.75% 13.58% Spain 5.85% 1.79% France 5.81% 3.37% Australia 5.36% 10.02% Sweden 5.11% 5.60% Germany 4.91% 4.17% Italy 4.82% 3.23% Denmark 4.77% 1.80% Greece 3.35% 0.00% Ireland 3.02% 0.24% Canada 2.08% 0.00% Switzerland 2.04% 4.52% Finland 1.72% 1.16% Netherlands 1.10% 1.35% % in Top 15 Countries 93.45% 87.42% As of: 03/31/2025 Region Fund MSCI EAFE Small Cap Index Developed 90.98% 100.00% Europe & Middle East 50.78% 49.06% North America 2.08% 0.00% Pacific 38.12% 50.94% Emerging 5.10% 0.00% Asia 1.75% 0.00% Latin America 0.00% 0.00% Europe & Middle East 3.35% 0.00% Africa 0.00% 0.00% Frontier 0.00% 0.00% Africa 0.00% 0.00% Asia 0.00% 0.00% Europe 0.00% 0.00% Latin America 0.00% 0.00% Middle East 0.00% 0.00% Cash & Other 3.92% 0.00% As of: 03/31/2025 Industry Fund MSCI EAFE Small Cap Index Machinery 9.83% 7.06% Hotels, Restaurants & Leisure 6.08% 2.79% Banks 5.77% 5.20% IT Services 5.63% 2.02% Food Products 4.14% 2.75% Professional Services 4.03% 1.59% Metals & Mining 4.00% 4.14% Software 3.85% 1.65% Diversified REITs 3.82% 2.19% Specialty Retail 3.72% 2.39% % in Top 10 Industries 50.87% 31.78% As of: 03/31/2025 Read Important Investment Disclosures About the Affiliate About TimesSquare Capital Management TimesSquare is a growth equity specialist. They are a trusted partner to institutional investors globally, providing mutual fund and separate account management. Reliance on in-depth, research-driven strategies has historically produced strong results across products and market cycles. Learn More About TimesSquare Capital Management's Approach FOUNDED 2000 AMG AFFILIATE SINCE 2004 HEADQUARTERS New York, NY Portfolio Managers Magnus S. Larsson DIRECTOR AND PORTFOLIO MANAGER Read full bio David A. Hirsh Director & Portfolio Manager/Analyst Read full bio Investment Approach Investment Approach AMG TimesSquare International Small Cap Fund The Fund seeks to outperform the MSCI EAFE Small Cap Index over a full market cycle. TimesSquare’s international investment team uses a bottom up, fundamental research-intensive approach to identify international small cap stocks with the greatest potential to achieve price appreciation over a 12- to 18-month horizon. The Fund invests in companies with market capitalizations less than $5 billion at time of purchase. Related products Other Products From TimesSquare Capital Management TMDPX AMG TimesSquare Mid Cap Growth Fund View Fund Details TSCPX AMG TimesSquare Small 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