Investment objective & strategy
As of April 30, 2025 · prospectusObjective. The investment objective of the AMG TimesSquare Small Cap Growth Fund (the Fund) is to achieve long-term capital appreciation.
Strategy. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of small-capitalization companies. Consistent with its focus, the Fund typically invests in common and preferred stocks of U.S. small-capitalization companies. TimesSquare Capital Management, LLC (TimesSquare or the Subadviser) generally considers a company to be a small-capitalization company if, at the time of purchase, the market capitalization is below $3 billion or otherwise within the range of capitalizations of companies in the Russell 2000 Index (between $ 150.4 million and $ 7.1 billion as of April 30 , 2024 , the date of the latest reconstitution of the Index (implemented by the Index June 28 … Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of small-capitalization companies. Consistent with its focus, the Fund typically invests in common and preferred stocks of U.S. small-capitalization companies. TimesSquare Capital Management, LLC (TimesSquare or the Subadviser) generally considers a company to be a small-capitalization company if, at the time of purchase, the market capitalization is below $3 billion or otherwise within the range of capitalizations of companies in the Russell 2000 Index (between $ 150.4 million and $ 7.1 billion as of April 30 , 2024 , the date of the latest reconstitution of the Index (implemented by the Index June 28 , 2024 )). This capitalization range will change over time. The Fund may continue to hold securities of a portfolio company whose market capitalization subsequently appreciates above the Funds small-capitalization threshold. Because of this, the Fund may have less than 80% of its net assets in equity securities of small-capitalization companies at any given time. In addition, the Fund focuses on growing companies involved in new product development and technological breakthroughs. TimesSquare looks across all sectors of the stock market to find companies that meet the Funds investment criteria including the potential for strong, sustainable growth, consistent earnings, proprietary products and services and minimal institutional ownership. Typically, TimesSquare seeks out stocks that have the potential for significant price appreciation over the following 18 months and price/earnings ratios at a discount relative to their earnings growth rates.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| CASELLA WASTE SYS INC CL A | — | $2.24M | 2.39% |
| RBC BEARINGS INC | — | $2.08M | 2.23% |
| ITT INC | — | $2.04M | 2.18% |
| Dreyfus Instl Resv PFD GOVT INSTL | DSVXX | $2.03M | 2.17% |
| LATTICE SEMICONDUCTOR CORP | — | $1.99M | 2.13% |
| BLOOM ENERGY CORP CL A | — | $1.99M | 2.12% |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC | — | $1.96M | 2.09% |
| GUARDIAN PHARMACY SERVICES INC | — | $1.95M | 2.09% |
| ONTO INNOVATION INC | — | $1.92M | 2.05% |
| MIRUM PHARMACEUTICALS INC | — | $1.76M | 1.88% |
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. |
|---|---|---|
| Loomis Sayles Small Cap Growth Fund · LSSIX, LCGRX, LSSNX | 25% | 0.82% |
| Loomis Sayles Small Cap Growth Portfolio | 25% | 0.88% |
| Allspring VT Small Cap Growth Fund | 24% | 0.92% |
Advisers
| Firm | Role |
|---|---|
| AMG Funds LLC | Adviser |
| TimesSquare Capital Management, LLC | Sub-adviser |
Footnotes
- Expense ratio as of April 30, 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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