Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class N N I Z NAV | as of 01/16/2025 $14.14 +$0.05 (+0.35%) Morningstar | Style Box V B G L M S Growth of $10,000 (Hypothetical) Since Inception 01/02/2013 to 12/31/2024 = $17,801.85 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 2023 Distributions View All Documents Investment Style 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 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 12/31/2024 Overall Rating (of 119) 3 Years (of 119) 5 Years (of 110) 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: 1.27% Net Expense Ratio: 1.27% Expense Cap Expiration Date: N/A 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: 12/31/2024 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. -3.91 -3.60 -1.85 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. 18.62 20.64 17.72 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. -0.60 -0.20 0.09 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. 86.36 82.07 90.94 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. 103.61 101.73 101.77 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 0.99 1.01 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. 90.00 91.22 89.40 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. 5.92 6.12 5.77 View All Characteristics & Statistics All Characteristics & Statistics 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.$) $112 Number of Holdings 80 2,054 Weighted Avg. Market Cap (Mil.$) $3,713 $3,025 Median Market Cap (Mil.$) $3,239 $1,361 Weighted Avg. P/E (1-yr Forward EPS) 17.51 13.70 Weighted Avg. P/E (Trailing EPS) 18.77 14.18 PEG Ratio 1.65 1.25 Weighted Avg. P/B 2.38 1.30 EPS Growth (Trailing 3-yr %) 13.49% 2.29% EPS Growth (Trailing 5-yr %) 7.11% 6.38% Forward EPS Growth (1-yr %) 7.94% 2.91% Forward EPS Growth (Long Term %) 9.43% 9.57% Revenue Growth (Trailing 5-yr %) 8.34% 4.92% Return on Equity 15.47% 10.89% Weighted Avg. Dividend Yield 2.08% 3.07% Debt to Equity 59.37 70.67 Trailing 12-Months Portfolio Turnover 72.37% 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. -3.91 -3.60 -1.85 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. 18.62 20.64 17.72 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. -0.60 -0.20 0.09 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. 86.36 82.07 90.94 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. 103.61 101.73 101.77 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 0.99 1.01 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. 90.00 91.22 89.40 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. 5.92 6.12 5.77 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. -0.64 -0.63 -0.36 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. -11.50 -4.17 1.62 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. -36.78 -41.28 -41.28 As of: 12/31/2024 Market Cap Fund MSCI EAFE Small Cap Index Market Cap ($mm) 0 - 1,000 14.27% 12.56% Market Cap ($mm) 1,000 - 1,500 7.51% 11.93% Market Cap ($mm) 1,500 - 2,500 18.23% 22.29% Market Cap ($mm) 2,500 - 5,000 38.30% 40.36% Market Cap ($mm) 5,000 - 10,000 17.32% 12.86% Market Cap ($mm) 10,000 - 25,000 4.38% 0.00% Market Cap ($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 ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 12/31/2024 Valuation Characteristics Fund MSCI EAFE Small Cap Index P/E 0-10 3.91% 16.97% P/E 10-15 19.19% 21.84% P/E 15-20 23.09% 16.33% P/E 20-25 14.07% 11.99% P/E 25-Above 37.68% 26.43% P/E – NA 2.06% 6.44% As of: 12/31/2024 Growth Characteristics Fund MSCI EAFE Small Cap Index EPS Growth (Trailing 3-yr %) - Negative 23.37% 37.10% EPS Growth (Trailing 3-yr %) 0 - 5 11.24% 8.38% EPS Growth (Trailing 3-yr %) 5 - 10 6.48% 4.41% EPS Growth (Trailing 3-yr %) 10 - 15 4.21% 5.58% EPS Growth (Trailing 3-yr %) 15 - 20 7.37% 4.31% EPS Growth (Trailing 3-yr %) Above 20 29.57% 17.36% EPS Growth (Trailing 3-yr %) - NA 17.77% 22.86% As of: 12/31/2024 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 12/31/2024 Integral Corp 2.62% Azbil Corp 2.34% ABC-Mart Inc 2.22% Food & Life Cos Ltd 2.17% Viscofan SA 2.13% Daiei Kankyo Co Ltd 2.09% Nippon Gas Co Ltd 2.04% Konecranes Oyj, Class A 1.99% KDX Realty Investment Corp, Class A 1.98% St James's Place PLC 1.97% % in Top 10 Holdings 21.54% View Holding Details Holding Details TimesSquare International Small Cap Fund (TCMPX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 12/31/2024 Integral Corp 2.62% Azbil Corp 2.34% ABC-Mart Inc 2.22% Food & Life Cos Ltd 2.17% Viscofan SA 2.13% Daiei Kankyo Co Ltd 2.09% Nippon Gas Co Ltd 2.04% Konecranes Oyj, Class A 1.99% KDX Realty Investment Corp, Class A 1.98% St James's Place PLC 1.97% % in Top 10 Holdings 21.54% As of: 12/31/2024 Download All Holdings (PDF) As of: 12/31/2024 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund 5842 Integral Corp Financials S JP JPY 107,170 27.26 $2,921,536 2.62% 6845 Azbil Corp Information Technology S JP JPY 339,330 7.71 $2,614,827 2.34% 2670 ABC-Mart Inc Consumer Discretionary S JP JPY 122,840 20.17 $2,478,281 2.22% 3563 Food & Life Cos Ltd Consumer Discretionary S JP JPY 115,250 21.04 $2,424,708 2.17% VIS Viscofan SA Consumer Staples S ES EUR 37,531 63.25 $2,373,880 2.13% 9336 Daiei Kankyo Co Ltd Industrials S JP JPY 127,800 18.29 $2,338,029 2.09% 8174 Nippon Gas Co Ltd Utilities S JP JPY 165,650 13.75 $2,277,752 2.04% KCR Konecranes Oyj, Class A Industrials S FI EUR 35,030 63.38 $2,220,214 1.99% 8972 KDX Realty Investment Corp, Class A Real Estate S JP JPY 2,330 949.34 $2,211,958 1.98% STJ St James's Place PLC Financials S GB GBP 202,980 10.83 $2,197,618 1.97% SFZN Siegfried Holding Ag Health Care S CH CHF 1,980 1,087.75 $2,153,750 1.93% RILBA Ringkjoebing Landbobank A/S Financials S DK DKK 12,530 167.61 $2,100,170 1.88% TATE Tate & Lyle PLC Consumer Staples S GB GBP 252,994 8.13 $2,057,117 1.84% ACX Acerinox SA Materials S ES EUR 192,490 9.79 $1,884,554 1.69% CRW Craneware PLC Health Care S GB GBP 70,820 26.42 $1,870,717 1.67% 2345 Accton Technology Corp Information Technology S TW TWD 75,200 23.50 $1,767,485 1.58% BELA JUMBO SA Consumer Discretionary S GR EUR 66,310 26.43 $1,752,855 1.57% SOP Sopra Steria Group Information Technology S FR EUR 9,763 177.26 $1,730,606 1.55% TE Technip Energies NV Energy S FR EUR 64,570 26.71 $1,724,762 1.54% ALQ ALS Ltd Industrials S AU AUD 182,390 9.31 $1,697,718 1.52% DHG Dalata Hotel Group PLC Consumer Discretionary S IE EUR 346,126 4.84 $1,674,357 1.50% 4527 Rohto Pharmaceutical Co Ltd Consumer Staples S JP JPY 90,920 18.22 $1,656,403 1.48% 6368 Organo Corp Industrials S JP JPY 31,560 51.23 $1,616,734 1.45% HWDN Howden Joinery Group PLC Industrials S GB GBP 157,003 9.91 $1,555,363 1.39% 3543 KOMEDA Holdings Co Ltd Consumer Discretionary S JP JPY 85,280 17.99 $1,533,889 1.37% HEM Hemnet Group Ab Communication Services S SE SEK 49,060 30.37 $1,489,912 1.33% 9744 MEITEC Group Holdings Inc Industrials S JP JPY 79,130 18.75 $1,483,988 1.33% GNC Greencore Group Plc Consumer Staples S IE GBP 609,700 2.42 $1,476,132 1.32% 7649 Sugi Holdings Co Ltd Consumer Staples S JP JPY 93,101 15.67 $1,458,667 1.31% 9023 Tokyo Metro Co Ltd Industrials S JP JPY 142,320 10.24 $1,457,164 1.30% UTG UNITE Group PLC Real Estate S GB GBP 139,480 10.12 $1,411,303 1.26% AUTO Auto Trader Group PLC 144A Communication Services S GB GBP 140,920 9.89 $1,394,384 1.25% FBK FinecoBank Banca Fineco SpA Financials S IT EUR 79,793 17.45 $1,392,607 1.25% ARCO Arcos Dorados Holdings Inc, Class A Consumer Discretionary S UY USD 190,850 7.28 $1,389,388 1.24% 3774 Internet Initiative Japan Inc Communication Services S JP JPY 72,030 18.85 $1,357,537 1.22% 6141 DMG Mori Co Ltd Industrials S JP JPY 83,270 15.91 $1,325,003 1.19% JLG Johns Lyng Group Ltd Industrials S AU AUD 548,462 2.31 $1,265,965 1.13% 443060 HD Hyundai Marine Solution Co Ltd Industrials S KR KRW 11,520 108.90 $1,254,519 1.12% SAVE Nordnet AB publ Financials S SE SEK 58,097 21.22 $1,232,621 1.10% FNOX Fortnox AB Information Technology S SE SEK 188,990 6.48 $1,225,518 1.10% BOY Bodycote PLC Industrials S GB GBP 155,279 7.89 $1,225,151 1.10% MRL Merlin Properties Socimi SA Real Estate S ES EUR 115,300 10.54 $1,215,262 1.09% ARCAD Arcadis NV Industrials S NL EUR 19,720 60.85 $1,200,045 1.07% GAW Games Workshop Group PLC Consumer Discretionary S GB GBP 7,110 166.28 $1,182,220 1.06% SDF Steadfast Group Ltd Financials S AU AUD 327,533 3.59 $1,174,212 1.05% 5838 Rakuten Bank Ltd Financials S JP JPY 40,450 27.91 $1,129,150 1.01% DPLM Diploma PLC Industrials S GB GBP 21,220 52.98 $1,124,177 1.01% OR Osisko Gold Royalties Ltd Materials S CA CAD 60,090 18.11 $1,088,137 0.97% R3NK RENK Group AG Industrials S DE EUR 57,980 18.72 $1,085,296 0.97% MAIRE Maire SpA Industrials S IT EUR 124,790 8.56 $1,068,661 0.96% VNT Ventia Services Group Pty Ltd Industrials S AU AUD 477,810 2.22 $1,061,472 0.95% ROR Rotork PLC Industrials S GB GBP 264,840 3.93 $1,041,340 0.93% 4180 Appier Group Inc Information Technology S JP JPY 113,190 9.07 $1,026,740 0.92% BCG Baltic Classifieds Group PLC Communication Services S LT GBP 256,760 3.94 $1,012,529 0.91% TPEIR Piraeus Financial Holdings Sa Financials S GR EUR 250,130 3.98 $995,603 0.89% YUBICO Yubico AB Information Technology S SE SEK 43,420 21.93 $951,985 0.85% PSI Pason Systems Inc Energy S CA CAD 98,620 9.47 $933,749 0.84% IMD Imdex Ltd Materials S AU AUD 641,190 1.43 $919,119 0.82% 7716 Nakanishi Inc Health Care S JP JPY 59,930 15.08 $903,678 0.81% LXS Lanxess Ag Materials S DE EUR 36,400 24.45 $889,954 0.80% IPH IPH Ltd Industrials S AU AUD 285,970 3.11 $888,515 0.80% QTCOM Qt Group Oyj Information Technology S FI EUR 11,950 69.72 $833,134 0.75% CYBR CyberArk Software Ltd Information Technology S IL USD 2,500 333.15 $832,875 0.75% AMBUB Ambu A/S, Class B Health Care S DK DKK 57,370 14.48 $830,551 0.74% 4419 Finatext Holdings Ltd Information Technology S JP JPY 121,220 6.81 $825,835 0.74% 215A Timee Inc Industrials S JP JPY 85,020 9.68 $822,966 0.74% COA Coats Group Plc Consumer Discretionary S GB GBP 669,060 1.18 $790,691 0.71% ATE Alten SA Information Technology S FR EUR 9,410 81.93 $770,962 0.69% 4373 Simplex Holdings Inc Information Technology S JP JPY 49,140 15.67 $769,862 0.69% NEX Nexans SA Industrials S FR EUR 7,010 108.03 $757,301 0.68% CIE CIE Automotive SA Consumer Discretionary S ES EUR 28,827 26.20 $755,194 0.68% IP Interpump Group SpA Industrials S IT EUR 16,467 44.35 $730,308 0.65% SAABB Saab AB [BPXZH27] Industrials S SE SEK 32,720 21.13 $691,284 0.62% WAF Siltronic AG Information Technology S DE EUR 13,460 48.28 $649,785 0.58% CAR CAR Group Ltd Communication Services S AU AUD 28,224 22.25 $628,093 0.56% NVMI Nova Ltd Information Technology S IL USD 3,100 196.95 $610,545 0.55% DAN Danieli & C Officine Meccaniche SpA Industrials S IT EUR 24,400 25.01 $610,307 0.55% 268A Rigaku Holdings Corp Information Technology S JP JPY 103,210 5.85 $603,471 0.54% KGX KION Group AG Industrials S DE EUR 9,730 33.02 $321,260 0.29% IPS IPSOS SA Communication Services S FR EUR 6,140 47.47 $291,447 0.26% Cash & Equivalents Cash C US USD - - $5,014,864 4.49% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Accton Technology Corp 1 1.37% 40.26% Rakuten Bank Ltd 2 1.82% 24.74% HD Hyundai Marine Solution Co Ltd 3 0.80% 36.61% Games Workshop Group PLC 4 1.21% 16.44% St James's Place PLC 5 1.83% 10.41% Technip Energies NV 6 1.50% 10.29% Ringkjoebing Landbobank A/S 7 2.12% 5.75% CyberArk Software Ltd 8 0.84% 14.25% Organo Corp 9 1.65% 6.83% Maire SpA 10 0.42% 13.57% 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 Rohto Pharmaceutical Co Ltd 20 1.76% -26.68% Qt Group Oyj 19 1.00% -33.10% DMG Mori Co Ltd 18 1.68% -21.97% Siegfried Holding Ag 17 1.96% -19.35% Daiei Kankyo Co Ltd 16 2.23% -15.35% UNITE Group PLC 15 1.65% -19.89% Konecranes Oyj, Class A 14 2.07% -15.75% Ventia Services Group Pty Ltd 13 0.84% -29.39% IPH Ltd 12 1.01% -26.17% Siltronic AG 11 0.66% -36.88% 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 Regional Allocation As of: 12/31/2024 View Allocation Details Allocation Details 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 25.82% 23.40% Information Technology 13.62% 9.27% Consumer Discretionary 12.52% 13.23% Financials 11.77% 12.70% Consumer Staples 8.08% 5.97% Communication Services 5.53% 4.10% Health Care 5.16% 5.65% Cash & Other 4.49% 0.00% Real Estate 4.33% 10.99% Materials 4.28% 9.34% Energy 2.38% 2.94% Utilities 2.04% 2.41% As of: 12/31/2024 Investment Allocation 12/31/2024 Stocks 95.51% Bonds 0.00% Cash and Other 4.49% As of: 12/31/2024 Country Fund MSCI EAFE Small Cap Index Japan 31.54% 36.84% United Kingdom 14.19% 14.41% Australia 6.83% 9.71% Spain 5.58% 1.70% Sweden 5.01% 5.36% France 4.72% 3.44% Italy 3.40% 3.09% Ireland 2.82% 0.27% Finland 2.73% 1.17% Germany 2.64% 3.62% Denmark 2.62% 1.85% Greece 2.46% 0.00% Switzerland 1.93% 4.28% Canada 1.81% 0.00% Taiwan 1.58% 0.00% % in Top 15 Countries 89.86% 85.74% As of: 12/31/2024 Region Fund MSCI EAFE Small Cap Index Developed 88.19% 100.00% Europe & Middle East 48.01% 48.92% North America 1.81% 0.00% Pacific 38.38% 51.08% Emerging 5.17% 0.00% Asia 2.71% 0.00% Latin America 0.00% 0.00% Europe & Middle East 2.46% 0.00% Africa 0.00% 0.00% Frontier 0.91% 0.00% Africa 0.00% 0.00% Asia 0.00% 0.00% Europe 0.91% 0.00% Latin America 0.00% 0.00% Middle East 0.00% 0.00% Cash & Other 5.73% 0.00% As of: 12/31/2024 Industry Fund MSCI EAFE Small Cap Index Machinery 10.23% 7.07% Hotels, Restaurants & Leisure 6.29% 2.85% Capital Markets 5.69% 3.91% Professional Services 5.45% 1.47% Food Products 5.29% 2.95% Banks 5.03% 4.64% Software 4.36% 1.77% Interactive Media & Services 4.05% 0.55% Specialty Retail 3.79% 2.48% IT Services 3.67% 2.06% % in Top 10 Industries 53.85% 29.75% 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 Magnus S. Larsson DIRECTOR AND PORTFOLIO MANAGER Read full bio David A. Hirsh Director & Portfolio Manager/Analyst Read full bio Investment Approach Investment Approach 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 TimesSquare Mid Cap Growth Fund View Fund Details TSCPX 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