Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class N N I Z NAV | as of 03/27/2025 $11.23 -$0.07 (-0.62%) Morningstar | Style Box V B G L M S Morningstar Rating Rated against 535 Small Growth funds as of 02/28/2025 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 01/21/2000 to 02/28/2025 = $78,383.65 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 to provide long-term capital appreciation by primarily investing in small cap companies. Why Consider May be appropriate for investors looking to gain exposure to small cap companies TimesSquare leverages its wealth of experience managing institutional small cap portfolios, 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 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 TimesSquare Small Cap Growth Fund is categorized as Small-Growth. It invests in small-cap companies with high risk. Morningstar Ratings Risk-adjusted returns as of 02/28/2025 Overall Rating (of 535) 3 Years (of 535) 5 Years (of 519) 10 Years (of 395) Category Small Growth Read Important Investment Disclosures Grant R. Babyak SENIOR FOUNDING PARTNER, MANAGING DIRECTOR, AND PORTFOLIO MANAGER Grant Babyak is a Senior Founding Partner, Managing Director, and Portfolio Manager in TimesSquare’s growth equity group. Prior to joining TimesSquare in 2000, Mr. Babyak managed small cap and mid cap portfolios at Fiduciary Trust Company International. He previously worked for six years at Avatar Associates as an institutional portfolio manager and for two years at U.S. Trust Company of New York as an analyst covering the consumer and basic industrial sectors. He has a BA in political science from Yale University and an MBA in finance from the Leonard N. Stern School of Business at New York University. Kenneth C. Duca, CFA DIRECTOR AND PORTFOLIO MANAGER/ANALYST Ken Duca is a Director and Portfolio Manager/Analyst in TimesSquare’s growth equity group, responsible for covering the business services and transaction processing sectors. Prior to joining TimesSquare in 2000, Mr. Duca held a similar position at Fiduciary Trust Company International. Before joining Fiduciary Trust, he spent 10 years with Prudential where, at the time of his departure, he was a senior equity analyst on the small cap growth team. He has a BA in economics from Muhlenberg College and an MBA from Rutgers University. He is a member of the CFA Institute and the New York Society of Security Analysts. 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: 1.21% Net Expense Ratio: 1.17% Expense Cap Expiration Date: 05/01/2025 The Fund’s Investment Manager has contractually agreed, through 05/01/2025, 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 $0.973000 — $0.090000 $0.883000 Dec 15, 2022 $0.690100 — — $0.690100 Dec 15, 2021 $3.373900 — $0.097200 $3.276700 Dec 16, 2020 $2.315200 — — $2.315200 Dec 16, 2019 $1.630200 — $0.016800 $1.613400 Dec 27, 2018 $3.885600 — $0.960700 $2.924900 Dec 27, 2017 $1.862500 — $0.268700 $1.593800 Dec 27, 2016 $0.544100 $0.030900 — $0.513200 Dec 28, 2015 $1.767300 — $0.221900 $1.545400 Dec 26, 2014 $0.875200 — $0.083900 $0.791300 Dec 26, 2013 $1.100300 — — $1.100300 Dec 26, 2012 $1.380000 — $0.091300 $1.288700 Dec 27, 2011 $0.594000 — — $0.594000 Dec 26, 2008 $0.334580 — $0.096640 $0.237940 Dec 26, 2007 $2.052400 — $0.361800 $1.690600 Dec 26, 2006 $1.652300 — $0.360000 $1.292300 Dec 27, 2005 $1.010000 — $0.365000 $0.645000 Apr 07, 2005 $0.336182 — — $0.336182 Dec 28, 2004 $0.380833 $0.046635 — $0.334198 Dec 23, 2003 $0.146397 $0.114975 — $0.031422 Dec 28, 2000 $0.149001 $0.149001 — — From: To: Risk & Return Statistics As of: 02/28/2025 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. 0.33 0.43 1.08 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. 20.56 23.86 20.16 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. -0.03 0.22 0.29 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. 79.63 87.96 82.10 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. 90.09 96.75 97.38 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. 0.86 0.94 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. 93.49 94.62 94.07 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. 6.14 5.72 5.15 View All Characteristics & Statistics All Characteristics & Statistics AMG TimesSquare Small Cap Growth Fund (TSCPX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell 2000® Growth Index Fund Assets (Mil.$) $119 Number of Holdings 78 1,117 Weighted Avg. Market Cap (Mil.$) $6,637 $4,416 Median Market Cap (Mil.$) $5,085 $1,204 Weighted Avg. P/E (1-yr Forward EPS) 33.73 21.94 Weighted Avg. P/E (Trailing EPS) 32.48 24.34 PEG Ratio 2.30 1.52 Weighted Avg. P/B 4.45 4.11 EPS Growth (Trailing 3-yr %) 6.88% 12.37% EPS Growth (Trailing 5-yr %) 15.88% 19.80% Forward EPS Growth (1-yr %) 8.51% 5.09% Forward EPS Growth (Long Term %) 15.56% 13.98% Revenue Growth (Trailing 5-yr %) 16.74% 14.15% Return on Equity 3.06% 4.14% Weighted Avg. Dividend Yield 0.46% 0.54% Debt to Equity 65.43 73.39 Trailing 12-Months Portfolio Turnover 74.48% As of: 12/31/2024 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. 0.33 0.43 1.08 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. 20.56 23.86 20.16 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. -0.03 0.22 0.29 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. 79.63 87.96 82.10 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. 90.09 96.75 97.38 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. 0.86 0.94 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. 93.49 94.62 94.07 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. 6.14 5.72 5.15 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. - - 0.12 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. -0.77 5.52 6.41 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. -21.80 -34.15 -34.15 As of: 02/28/2025 Market Cap Fund Russell 2000® Growth Index Market Cap ($mm) 0 - 1,000 3.19% 8.08% Market Cap ($mm) 1,000 - 1,500 4.67% 6.79% Market Cap ($mm) 1,500 - 2,500 7.37% 13.84% Market Cap ($mm) 2,500 - 5,000 31.69% 37.40% Market Cap ($mm) 5,000 - 10,000 35.20% 28.85% Market Cap ($mm) 10,000 - 25,000 17.88% 5.04% Market Cap ($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 ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 12/31/2024 Valuation Characteristics Fund Russell 2000® Growth Index P/E 0-10 1.09% 2.93% P/E 10-15 3.10% 6.56% P/E 15-20 6.22% 10.49% P/E 20-25 8.96% 7.76% P/E 25-Above 51.99% 40.89% P/E – NA 28.65% 31.37% As of: 12/31/2024 Growth Characteristics Fund Russell 2000® Growth Index EPS Growth (Trailing 3-yr %) - Negative 13.79% 13.78% EPS Growth (Trailing 3-yr %) 0 - 5 9.46% 3.18% EPS Growth (Trailing 3-yr %) 5 - 10 3.70% 6.43% EPS Growth (Trailing 3-yr %) 10 - 15 5.85% 4.51% EPS Growth (Trailing 3-yr %) 15 - 20 2.62% 4.80% EPS Growth (Trailing 3-yr %) Above 20 16.41% 20.12% EPS Growth (Trailing 3-yr %) - NA 48.17% 47.17% As of: 12/31/2024 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 12/31/2024 CyberArk Software Ltd 3.29% Casella Waste Systems Inc, Class A 2.53% Victory Capital Holdings Inc, Class A 2.52% Regal Rexnord Corp 2.47% Workiva Inc, Class A 2.25% Esab Corp 2.13% Vertex Inc, Class A 2.08% Safety Insurance Group Inc 2.00% BJ's Wholesale Club Holdings Inc 1.95% Clearwater Analytics Holdings Inc, Class A 1.93% % in Top 10 Holdings 23.13% View Holding Details Holding Details AMG TimesSquare Small Cap Growth Fund (TSCPX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 12/31/2024 CyberArk Software Ltd 3.29% Casella Waste Systems Inc, Class A 2.53% Victory Capital Holdings Inc, Class A 2.52% Regal Rexnord Corp 2.47% Workiva Inc, Class A 2.25% Esab Corp 2.13% Vertex Inc, Class A 2.08% Safety Insurance Group Inc 2.00% BJ's Wholesale Club Holdings Inc 1.95% Clearwater Analytics Holdings Inc, Class A 1.93% % in Top 10 Holdings 23.13% As of: 12/31/2024 Download All Holdings (PDF) As of: 02/28/2025 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund CYBR CyberArk Software Ltd Information Technology S IL USD 9,000 363.85 $3,274,650 2.92% VCTR Victory Capital Holdings Inc, Class A Financials S US USD 46,000 64.04 $2,945,840 2.63% FROG JFrog Ltd Information Technology S IL USD 79,116 36.75 $2,907,513 2.59% CWST Casella Waste Systems Inc, Class A Industrials S US USD 23,900 112.02 $2,677,278 2.39% INSM Insmed Inc Health Care S US USD 31,444 81.55 $2,564,258 2.29% HLNE Hamilton Lane Inc, Class A Financials S US USD 16,200 156.32 $2,532,384 2.26% ESAB Esab Corp Industrials S US USD 20,000 125.30 $2,506,000 2.24% RRX Regal Rexnord Corp Industrials S US USD 19,000 129.40 $2,458,600 2.19% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 23,000 101.26 $2,328,980 2.08% SAFT Safety Insurance Group Inc Financials S US USD 29,100 76.14 $2,215,674 1.98% INSP Inspire Medical Systems Inc Health Care S US USD 11,000 185.59 $2,041,490 1.82% WK Workiva Inc, Class A Information Technology S US USD 23,000 87.52 $2,012,960 1.80% CWAN Clearwater Analytics Holdings Inc, Class A Information Technology S US USD 58,800 31.10 $1,828,680 1.63% ERJ Embraer SA ADR Industrials S BR USD 38,000 47.65 $1,810,700 1.62% AZEK AZEK Co Inc, Class A Industrials S US USD 38,500 46.85 $1,803,725 1.61% ACVA ACV Auctions Inc, Class A Industrials S US USD 109,700 16.06 $1,761,782 1.57% BOOT Boot Barn Holdings Inc Consumer Discretionary S US USD 14,000 122.43 $1,714,020 1.53% TTAN ServiceTitan Inc, Class A Information Technology S US USD 18,000 94.94 $1,708,920 1.53% PAR Par Technology Corp Information Technology S US USD 24,200 68.71 $1,662,782 1.48% ADUS Addus Homecare Corp Health Care S US USD 17,000 95.77 $1,628,090 1.45% LSCC Lattice Semiconductor Corp Information Technology S US USD 26,000 62.34 $1,620,840 1.45% TTEK Tetra Tech Inc Industrials S US USD 54,805 29.19 $1,599,758 1.43% QTWO Q2 Holdings Inc Information Technology S US USD 18,000 87.37 $1,572,660 1.40% NSA National Storage Affiliates Trust Real Estate S US USD 40,039 38.62 $1,546,306 1.38% VCEL Vericel Corp Health Care S US USD 30,000 51.29 $1,538,700 1.37% VERX Vertex Inc, Class A Information Technology S US USD 45,900 32.29 $1,482,111 1.32% RBC RBC Bearings Inc Industrials S US USD 4,000 359.20 $1,436,800 1.28% SYNA Synaptics Inc Information Technology S US USD 21,500 66.14 $1,422,010 1.27% XENE Xenon Pharmaceuticals Inc Health Care S CA USD 38,387 37.02 $1,421,087 1.27% WRBY Warby Parker Inc, Class A Consumer Discretionary S US USD 57,000 24.73 $1,409,610 1.26% PCVX Vaxcyte Inc Health Care S US USD 19,000 73.02 $1,387,380 1.24% INTA Intapp Inc Information Technology S US USD 20,992 65.96 $1,384,632 1.24% HXL Hexcel Corp Industrials S US USD 21,500 63.37 $1,362,455 1.22% KRYS Krystal Biotech Inc Health Care S US USD 7,600 179.25 $1,362,300 1.22% LOAR Loar Holdings Inc Industrials S US USD 18,700 72.67 $1,358,929 1.21% WH Wyndham Hotels & Resorts Inc Consumer Discretionary S US USD 12,100 108.33 $1,310,793 1.17% STVN Stevanato Group SpA Health Care S IT USD 69,500 18.64 $1,295,480 1.16% ITT ITT Inc Industrials S US USD 9,128 141.24 $1,289,239 1.15% GLBE Global-e Online Ltd Consumer Discretionary S IL USD 30,000 42.62 $1,278,600 1.14% FIX Comfort Systems USA Inc Industrials S US USD 3,500 363.33 $1,271,655 1.13% EXPO Exponent Inc Industrials S US USD 15,000 84.66 $1,269,900 1.13% ROAD Construction Partners Inc, Class A Industrials S US USD 16,100 72.56 $1,168,216 1.04% VVV Valvoline Inc Consumer Discretionary S US USD 31,558 36.88 $1,163,859 1.04% MTDR Matador Resources Co, Class A Energy S US USD 22,070 52.34 $1,155,144 1.03% BFAM Bright Horizons Family Solutions Inc, Class A Consumer Discretionary S US USD 8,820 129.66 $1,143,601 1.02% WSC WillScot Holdings Corp Industrials S US USD 34,700 32.95 $1,143,365 1.02% OS Onestream Inc, Class A Information Technology S US USD 48,807 23.30 $1,137,203 1.01% VRNA Verona Pharma PLC ADR Health Care S GB USD 16,000 69.63 $1,114,080 0.99% NAMS NewAmsterdam Pharma Co NV Health Care S NL USD 50,556 21.00 $1,061,676 0.95% AIT Applied Industrial Technologies Inc Industrials S US USD 4,159 250.58 $1,042,162 0.93% CRDO Credo Technology Group Holding Ltd Information Technology S US USD 18,400 55.18 $1,015,312 0.91% CHEF Chefs' Warehouse Inc Consumer Staples S US USD 16,185 62.58 $1,012,857 0.90% PAY Paymentus Holdings Inc, Class A Financials S US USD 35,800 27.40 $980,920 0.88% WHD Cactus Inc, Class A Energy S US USD 18,600 52.54 $977,244 0.87% FRPT Freshpet Inc Consumer Staples S US USD 9,100 107.03 $973,973 0.87% MTSI MACOM Technology Solutions Holdings Inc Information Technology S US USD 8,000 115.66 $925,280 0.83% FORM FormFactor Inc Information Technology S US USD 27,513 33.30 $916,183 0.82% JBTM JBT Marel Corp Industrials S US USD 6,904 132.00 $911,328 0.81% IAS Integral Ad Science Holding Corp Communication Services S US USD 85,000 10.52 $894,200 0.80% PRSU Pursuit Attractions and Hospitality Inc Industrials S US USD 22,430 39.70 $890,471 0.79% MGY Magnolia Oil & Gas Corp, Class A Energy S US USD 37,700 23.41 $882,557 0.79% FTAI FTAI Aviation Ltd Industrials S KY USD 6,700 128.71 $862,357 0.77% PJT PJT Partners Inc, Class A Financials S US USD 5,300 159.26 $844,078 0.75% INR Infinity Natural Resources Inc, Class A Energy S US USD 45,838 17.98 $824,167 0.74% SLNO Soleno Therapeutics Inc Health Care S US USD 16,061 48.82 $784,098 0.70% MVBF MVB Financial Corp Financials S US USD 42,000 18.49 $776,580 0.69% KTOS Kratos Defense & Security Solutions Inc Industrials S US USD 29,418 26.39 $776,341 0.69% ONTO Onto Innovation Inc Information Technology S US USD 5,307 145.66 $773,018 0.69% DAWN Day One Biopharmaceuticals Inc Health Care S US USD 82,080 9.06 $743,645 0.66% MRUS Merus NV Health Care S NL USD 15,500 47.09 $729,895 0.65% MAX MediaAlpha Inc, Class A Communication Services S US USD 78,000 9.29 $724,620 0.65% CGON CG Oncology Inc Health Care S US USD 28,014 25.86 $724,442 0.65% MYRG MYR Group Inc Industrials S US USD 5,640 122.72 $692,141 0.62% EE Excelerate Energy Inc, Class A Energy S US USD 22,395 30.68 $687,079 0.61% KRMN Karman Holdings Inc Industrials S US USD 14,910 31.54 $470,261 0.42% ASGN ASGN Inc Information Technology S US USD 6,750 67.38 $454,815 0.41% CBLL Ceribell Inc Health Care S US USD 15,168 23.24 $352,504 0.31% Cash & Equivalents Cash C US USD - - $6,315,398 5.64% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Credo Technology Group Holding Ltd 1 1.19% 118.21% Astera Labs Inc 2 0.75% 152.82% Vertex Inc, Class A 3 2.25% 38.54% Workiva Inc, Class A 4 1.97% 38.40% Warby Parker Inc, Class A 5 1.45% 48.25% Global-e Online Ltd 6 1.42% 41.86% CyberArk Software Ltd 7 2.89% 14.25% Victory Capital Holdings Inc, Class A 8 2.30% 18.72% MYR Group Inc 9 0.80% 45.52% Vericel Corp 10 1.34% 29.96% As of: 12/31/2024 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Vaxcyte Inc 20 1.44% -28.36% MediaAlpha Inc, Class A 19 0.81% -37.66% National Storage Affiliates Trust 18 1.66% -20.59% Exponent Inc 17 1.28% -22.55% Impinj Inc 16 0.85% -32.91% ICF International Inc 15 0.96% -28.92% KinderCare Learning Cos Inc 14 0.58% -36.52% Tetra Tech Inc 13 1.57% -15.44% CG Oncology Inc 12 0.72% -23.99% Onestream Inc, Class A 11 0.96% -15.87% As of: 12/31/2024 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Read Important Investment Disclosures Read Important Investment Disclosures Sector Allocation (Equity) As of: 12/31/2024 View Allocation Details Allocation Details AMG TimesSquare Small Cap Growth Fund (TSCPX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell 2000® Growth Index Information Technology 26.24% 20.77% Industrials 25.47% 22.65% Health Care 16.88% 23.46% Consumer Discretionary 8.23% 10.21% Financials 7.89% 8.63% Cash & Other 4.68% 0.00% Consumer Staples 4.04% 3.34% Energy 3.38% 3.30% Real Estate 1.55% 1.39% Communication Services 1.53% 2.15% Materials 0.11% 3.65% Utilities 0.00% 0.45% As of: 12/31/2024 Investment Allocation 12/31/2024 Stocks 95.32% Bonds 0.00% Cash and Other 4.68% As of: 12/31/2024 Industry Fund Russell 2000® Growth Index Software 16.21% 11.70% Biotechnology 10.65% 12.44% Semiconductors & Semiconductor Equipment 8.23% 3.89% Commercial Services & Supplies 6.17% 1.55% Capital Markets 5.09% 2.95% Machinery 4.86% 5.10% Specialty Retail 4.22% 2.04% Construction & Engineering 4.05% 2.63% Aerospace & Defense 3.84% 1.99% Consumer Staples Distribution & Retail 2.63% 1.19% % in Top 10 Industries 65.95% 45.48% As of: 12/31/2024 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 Grant R. Babyak SENIOR FOUNDING PARTNER, MANAGING DIRECTOR, AND PORTFOLIO MANAGER Read full bio Kenneth C. Duca, CFA DIRECTOR AND PORTFOLIO MANAGER/ANALYST Read full bio Investment Approach Investment Approach AMG TimesSquare Small Cap Growth Fund The Fund seeks to outperform the Russell 2000® Growth Index in a risk-controlled manner. The TimesSquare portfolio management team uses a bottom-up, fundamental research-intensive approach to identify small cap growth stocks that it believes have the greatest potential to achieve significant price appreciation over a 12- to 18-month horizon. The Fund typically invests in companies within the market cap range of the Russell 2000® Index at time of purchase. Related products Other Products From TimesSquare Capital Management TCMPX AMG TimesSquare International Small Cap Fund View Fund Details TMDPX AMG TimesSquare 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