Investment objective & strategy
As of April 28, 2025 · prospectusObjective. The Fund seeks long-term capital appreciation.
Strategy. The Fund principally invests in common stock of U.S. companies of all sizes, with emphasis on stocks of companies with capitalizations that are consistent with the capitalizations of those companies found in the Russell 2500 ? Index. As of March 31, 2025, the market capitalization range of companies in the Russell 2500 ? Index was between approximately $567.8 million and $31.4 billion. The Fund may invest up to 15% of the value of its total assets in equity securities of foreign issuers. The Fund's sub-adviser, Frontier Capital Management Company, LLC ("Frontier") seeks long-term capital appreciation by employing a Growth-At-A-Reasonable-Price approach to identify, in its view, the best risk/reward investment ideas in the U.S. small- and mid-capitalization equity universe. Frontier purchases … The Fund principally invests in common stock of U.S. companies of all sizes, with emphasis on stocks of companies with capitalizations that are consistent with the capitalizations of those companies found in the Russell 2500 ? Index. As of March 31, 2025, the market capitalization range of companies in the Russell 2500 ? Index was between approximately $567.8 million and $31.4 billion. The Fund may invest up to 15% of the value of its total assets in equity securities of foreign issuers. The Fund's sub-adviser, Frontier Capital Management Company, LLC ("Frontier") seeks long-term capital appreciation by employing a Growth-At-A-Reasonable-Price approach to identify, in its view, the best risk/reward investment ideas in the U.S. small- and mid-capitalization equity universe. Frontier purchases companies that, in its view, have above-average earnings growth potential and are available at reasonable valuations. Frontier's philosophy combines rigorous bottom-up fundamental analysis with a proven investment process. Frontier may sell stocks for a number of reasons, including when price objectives are reached, fundamental conditions have changed so that future earnings progress is likely to be adversely affected, or a stock is fully invested and an attractive, new opportunity causes the sale of a current holding with less appreciation potential. Frontier does not sell stocks solely on changes to a company's market capitalization.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| FTAI AVIATION LTD | — | $7.48M | 2.85% |
| XPO LOGISTICS INC | — | $5.49M | 2.09% |
| CARPENTER TECHNOLOGY CORP | — | $4.66M | 1.77% |
| ATI INC | — | $4.22M | 1.61% |
| GRANITE CONSTRUCTION INC | — | $4.17M | 1.59% |
| PERMIAN RESOURCES CORP CL A | — | $4.07M | 1.55% |
| JABIL INC | — | $4.02M | 1.53% |
| COHERENT CORP | — | $3.98M | 1.51% |
| DARLING INGREDIENTS INC | — | $3.81M | 1.45% |
| WEATHERFORD INTERNATIONAL PLC | — | $3.63M | 1.38% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| AMG Frontier Small Cap Growth Fund · MSSCX, MSSVX, MSSYX | 40% | 0.90% |
| Frontier Mid Cap Growth Portfolio | 26% | 0.69% |
| MassMutual Mid Cap Growth Fund · MEFAX, MMELX, MEFNX, MGRFX, MEFYX, MEFZX, MEFFX, MMNGX | 20% | 0.66% |
Advisers
| Firm | Role |
|---|---|
| Frontier Capital Management Company, LLC | Sub-adviser |
| M Financial Investment Advisers, Inc. | Adviser |
Footnotes
- Expense ratio as of April 28, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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