Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class Z N I Z NAV | as of 01/16/2025 $13.65 +$0.08 (+0.59%) Morningstar | Style Box V B G L M S Morningstar Rating Rated against 534 Small Growth funds as of 12/31/2024 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 01/21/2000 to 12/31/2024 = $84,132.68 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 2023 Distributions View All Documents Investment Style 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 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 12/31/2024 Overall Rating (of 534) 3 Years (of 534) 5 Years (of 517) 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: 1.01% Net Expense Ratio: 0.97% Expense Cap Expiration Date: 05/01/2026 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 $0.585900 $0.061100 — $0.524800 Dec 28, 2015 $1.803600 — $0.226400 $1.577200 Dec 26, 2014 $0.891400 — $0.085400 $0.806000 Dec 26, 2013 $1.116800 — — $1.116800 Dec 26, 2012 $1.399300 — $0.092600 $1.306700 Dec 27, 2011 $0.602000 — — $0.602000 Dec 26, 2008 $0.338080 — $0.097640 $0.240440 Dec 26, 2007 $2.072200 — $0.365300 $1.706900 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 $0.402779 $0.068581 — $0.334198 Dec 23, 2003 $0.156641 $0.125219 — $0.031422 Dec 28, 2000 $0.153541 $0.153541 — — 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. -0.55 1.08 1.31 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. 21.57 23.70 20.08 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. -0.20 0.21 0.35 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. 77.27 86.81 82.14 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. 91.02 95.41 97.05 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. 0.87 0.93 0.92 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. 94.10 94.55 94.12 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. 6.07 5.76 5.13 View All Characteristics & Statistics All Characteristics & Statistics TimesSquare Small Cap Growth Fund (TSCIX) 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. -0.55 1.08 1.31 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. 21.57 23.70 20.08 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. -0.20 0.21 0.35 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. 77.27 86.81 82.14 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. 91.02 95.41 97.05 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. 0.87 0.93 0.92 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. 94.10 94.55 94.12 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. 6.07 5.76 5.13 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. -0.07 0.12 0.16 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. -4.87 5.35 7.69 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. -32.27 -34.06 -34.06 As of: 12/31/2024 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 ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 12/31/2024 Valuation Characteristics Fund Russell 2000® Growth Index P/E 0-10 1.09% 2.93% P/E 10-15 3.10% 6.56% P/E 15-20 6.22% 10.49% P/E 20-25 8.96% 7.76% P/E 25-Above 51.99% 40.89% P/E – NA 28.65% 31.37% As of: 12/31/2024 Growth Characteristics Fund Russell 2000® Growth Index EPS Growth (Trailing 3-yr %) - Negative 13.79% 13.78% EPS Growth (Trailing 3-yr %) 0 - 5 9.46% 3.18% EPS Growth (Trailing 3-yr %) 5 - 10 3.70% 6.43% EPS Growth (Trailing 3-yr %) 10 - 15 5.85% 4.51% EPS Growth (Trailing 3-yr %) 15 - 20 2.62% 4.80% EPS Growth (Trailing 3-yr %) Above 20 16.41% 20.12% EPS Growth (Trailing 3-yr %) - NA 48.17% 47.17% As of: 12/31/2024 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 12/31/2024 CyberArk Software Ltd 3.29% Casella Waste Systems Inc, Class A 2.53% Victory Capital Holdings Inc, Class A 2.52% Regal Rexnord Corp 2.47% Workiva Inc, Class A 2.25% Esab Corp 2.13% Vertex Inc, Class A 2.08% Safety Insurance Group Inc 2.00% BJ's Wholesale Club Holdings Inc 1.95% Clearwater Analytics Holdings Inc, Class A 1.93% % in Top 10 Holdings 23.13% View Holding Details Holding Details TimesSquare Small Cap Growth Fund (TSCIX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 12/31/2024 CyberArk Software Ltd 3.29% Casella Waste Systems Inc, Class A 2.53% Victory Capital Holdings Inc, Class A 2.52% Regal Rexnord Corp 2.47% Workiva Inc, Class A 2.25% Esab Corp 2.13% Vertex Inc, Class A 2.08% Safety Insurance Group Inc 2.00% BJ's Wholesale Club Holdings Inc 1.95% Clearwater Analytics Holdings Inc, Class A 1.93% % in Top 10 Holdings 23.13% As of: 12/31/2024 Download All Holdings (PDF) As of: 12/31/2024 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund CYBR CyberArk Software Ltd Information Technology S IL USD 11,800 333.15 $3,931,170 3.29% CWST Casella Waste Systems Inc, Class A Industrials S US USD 28,500 105.81 $3,015,585 2.53% VCTR Victory Capital Holdings Inc, Class A Financials S US USD 46,000 65.46 $3,011,160 2.52% RRX Regal Rexnord Corp Industrials S US USD 19,000 155.13 $2,947,470 2.47% WK Workiva Inc, Class A Information Technology S US USD 24,500 109.50 $2,682,750 2.25% ESAB Esab Corp Industrials S US USD 21,161 119.94 $2,538,050 2.13% VERX Vertex Inc, Class A Information Technology S US USD 46,500 53.35 $2,480,775 2.08% SAFT Safety Insurance Group Inc Financials S US USD 28,990 82.40 $2,388,776 2.00% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 26,000 89.35 $2,323,100 1.95% CWAN Clearwater Analytics Holdings Inc, Class A Information Technology S US USD 83,690 27.52 $2,303,149 1.93% FROG JFrog Ltd Information Technology S IL USD 77,816 29.41 $2,288,569 1.92% INSM Insmed Inc Health Care S US USD 32,009 69.04 $2,209,901 1.85% ITCI Intra-Cellular Therapies Inc Health Care S US USD 26,074 83.52 $2,177,700 1.82% HLNE Hamilton Lane Inc, Class A Financials S US USD 14,700 148.05 $2,176,335 1.82% ADUS Addus Homecare Corp Health Care S US USD 17,022 125.35 $2,133,708 1.79% BOOT Boot Barn Holdings Inc Consumer Discretionary S US USD 13,907 151.82 $2,111,361 1.77% GLBE Global-e Online Ltd Consumer Discretionary S IL USD 36,000 54.53 $1,963,080 1.64% TTEK Tetra Tech Inc Industrials S US USD 48,405 39.84 $1,928,455 1.61% NSA National Storage Affiliates Trust Real Estate S US USD 48,939 37.91 $1,855,277 1.55% ACVA ACV Auctions Inc, Class A Industrials S US USD 84,500 21.60 $1,825,200 1.53% WRBY Warby Parker Inc, Class A Consumer Discretionary S US USD 74,000 24.21 $1,791,540 1.50% QTWO Q2 Holdings Inc Information Technology S US USD 17,500 100.65 $1,761,375 1.47% FIX Comfort Systems USA Inc Industrials S US USD 4,101 424.06 $1,739,070 1.46% AZEK AZEK Co Inc, Class A Industrials S US USD 36,100 47.47 $1,713,667 1.44% FRPT Freshpet Inc Consumer Staples S US USD 11,400 148.11 $1,688,454 1.41% SYNA Synaptics Inc Information Technology S US USD 22,000 76.32 $1,679,040 1.41% VCEL Vericel Corp Health Care S US USD 30,000 54.91 $1,647,300 1.38% PCVX Vaxcyte Inc Health Care S US USD 20,032 81.86 $1,639,820 1.37% ERJ Embraer SA ADR Industrials S BR USD 43,063 36.68 $1,579,551 1.32% LOAR Loar Holdings Inc Industrials S US USD 21,000 73.91 $1,552,110 1.30% INSP Inspire Medical Systems Inc Health Care S US USD 8,120 185.38 $1,505,286 1.26% XENE Xenon Pharmaceuticals Inc Health Care S CA USD 38,387 39.20 $1,504,770 1.26% TTAN ServiceTitan Inc, Class A Information Technology S US USD 14,287 102.87 $1,469,704 1.23% LSCC Lattice Semiconductor Corp Information Technology S US USD 25,500 56.65 $1,444,575 1.21% EXPO Exponent Inc Industrials S US USD 15,856 89.10 $1,412,770 1.18% CRDO Credo Technology Group Holding Ltd Information Technology S US USD 21,000 67.21 $1,411,410 1.18% PAR Par Technology Corp Information Technology S US USD 19,000 72.67 $1,380,730 1.16% RBC RBC Bearings Inc Industrials S US USD 4,500 299.14 $1,346,130 1.13% INTA Intapp Inc Information Technology S US USD 20,658 64.09 $1,323,971 1.11% ITT ITT Inc Industrials S US USD 9,228 142.88 $1,318,497 1.10% WH Wyndham Hotels & Resorts Inc Consumer Discretionary S US USD 13,000 100.79 $1,310,270 1.10% KRYS Krystal Biotech Inc Health Care S US USD 8,080 156.66 $1,265,813 1.06% STVN Stevanato Group SpA Health Care S IT USD 58,000 21.79 $1,263,820 1.06% MTDR Matador Resources Co, Class A Energy S US USD 22,070 56.26 $1,241,658 1.04% FORM FormFactor Inc Information Technology S US USD 27,513 44.00 $1,210,572 1.01% WSC WillScot Holdings Corp Industrials S US USD 36,077 33.45 $1,206,776 1.01% BFAM Bright Horizons Family Solutions Inc, Class A Consumer Discretionary S US USD 10,477 110.85 $1,161,375 0.97% WHD Cactus Inc, Class A Energy S US USD 19,748 58.36 $1,152,493 0.97% NAMS NewAmsterdam Pharma Co NV Health Care S NL USD 44,539 25.70 $1,144,652 0.96% VVV Valvoline Inc Consumer Discretionary S US USD 31,558 36.18 $1,141,768 0.96% OS Onestream Inc, Class A Information Technology S US USD 39,207 28.52 $1,118,184 0.94% ONTO Onto Innovation Inc Information Technology S US USD 6,557 166.67 $1,092,855 0.92% DAWN Day One Biopharmaceuticals Inc Health Care S US USD 84,080 12.67 $1,065,294 0.89% MTSI MACOM Technology Solutions Holdings Inc Information Technology S US USD 8,200 129.91 $1,065,262 0.89% ROAD Construction Partners Inc, Class A Industrials S US USD 12,000 88.46 $1,061,520 0.89% AIT Applied Industrial Technologies Inc Industrials S US USD 4,359 239.47 $1,043,850 0.87% PI Impinj Inc Information Technology S US USD 7,037 145.26 $1,022,195 0.86% MGY Magnolia Oil & Gas Corp, Class A Energy S US USD 42,532 23.38 $994,398 0.83% MVBF MVB Financial Corp Financials S US USD 46,000 20.70 $952,200 0.80% MAX MediaAlpha Inc, Class A Communication Services S US USD 81,289 11.29 $917,753 0.77% IAS Integral Ad Science Holding Corp Communication Services S US USD 87,169 10.44 $910,044 0.76% ALAB Astera Labs Inc Information Technology S US USD 6,800 132.45 $900,660 0.75% PJT PJT Partners Inc, Class A Financials S US USD 5,629 157.81 $888,312 0.74% MYRG MYR Group Inc Industrials S US USD 5,540 148.77 $824,186 0.69% CHEF Chefs' Warehouse Inc Consumer Staples S US USD 16,545 49.32 $815,999 0.68% CGON CG Oncology Inc Health Care S US USD 28,014 28.68 $803,442 0.67% KTOS Kratos Defense & Security Solutions Inc Industrials S US USD 30,000 26.38 $791,400 0.66% SLNO Soleno Therapeutics Inc Health Care S US USD 17,061 44.95 $766,892 0.64% ASGN ASGN Inc Information Technology S US USD 9,150 83.34 $762,561 0.64% PYCR Paycor HCM Inc Industrials S US USD 38,142 18.57 $708,297 0.59% MRUS Merus NV Health Care S NL USD 16,022 42.05 $673,725 0.56% HXL Hexcel Corp Industrials S US USD 10,600 62.70 $664,620 0.56% EE Excelerate Energy Inc, Class A Energy S US USD 21,350 30.25 $645,838 0.54% VVI Pursuit Attractions and Hospitality Inc Industrials S US USD 14,130 42.51 $600,666 0.50% JBT John Bean Technologies Corp Industrials S US USD 4,704 127.10 $597,878 0.50% HQY HealthEquity Inc Health Care S US USD 3,738 95.95 $358,661 0.30% KLC KinderCare Learning Cos Inc Consumer Discretionary S US USD 19,340 17.80 $344,252 0.29% AVNT Avient Corp Materials S US USD 3,352 40.86 $136,963 0.11% Cash & Equivalents Cash C US USD - - $5,587,136 4.68% 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 TimesSquare Small Cap Growth Fund (TSCIX) 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 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 TimesSquare International Small Cap Fund View Fund Details TMDPX 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