Fund Overview Fund Overview Share Class Z N I Z NAV | as of 12/05/2022 $9.70 -$0.18 (-1.82%) Morningstar | Style Box V B G L M S Growth of $10,000 (Hypothetical) Since Inception 05/30/2018 to 11/30/2022 = $10,653.26 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. 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 800.835.3879. 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. View Performance Read Important Investment Disclosures Objective Seeks to provide long-term capital appreciation by primarily investing in small cap companies around the globe. Why Consider May be appropriate for investors looking to gain exposure to small cap companies around the globe TimesSquare leverages its wealth of experience investing in global 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 Summary Prospectus Prospectus Holdings SAI 2021 Year End Distributions View All Documents Magnus S. Larsson DIRECTOR AND PORTFOLIO MANAGER See Our Approach Read Bio Grant R. Babyak SENIOR FOUNDING PARTNER, MANAGING DIRECTOR, AND PORTFOLIO MANAGER See Our Approach Read Bio Anthony Rosenthal, CFA SENIOR FOUNDING PARTNER, MANAGING DIRECTOR, AND PORTFOLIO MANAGER | U.S. EQUITY INVESTMENT TEAM See Our Approach Read Bio Investment Style TimesSquare Global Small Cap Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective TimesSquare Global Small Cap Fund is categorized as Mid-Growth. It invests in medium-cap companies with high risk. Morningstar Ratings Risk-adjusted returns as of 10/31/2022 Overall Rating (of 126) 3 Years (of 126) 5 Years — 10 Years — Category Global Small/Mid Stock 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. 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. Anthony Rosenthal, CFA SENIOR FOUNDING PARTNER, MANAGING DIRECTOR, AND PORTFOLIO MANAGER | U.S. EQUITY INVESTMENT TEAM Tony Rosenthal is a Senior Founding Partner, Managing Director, and Portfolio Manager in TimesSquare’s growth equity group. Before joining TimesSquare in 2000, Tony held a similar position at Fiduciary Trust Company International. Prior experience includes three years at the Bank of New York as an equity portfolio manager and analyst and time at U.S. Trust Company of New York, where he conducted economic research. Tony has a BA in economics from Wesleyan University and an MBA from Columbia Business School. 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 800.835.3879. 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 less than one year are not annualized. Expense Ratios Gross Expense Ratio: 4.03% Net Expense Ratio: 1.00% Expense Cap Expiration Date: 05/01/2023 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 15, 2021 $0.886700 $0.029500 — $0.857200 Dec 16, 2019 $0.131900 $0.131900 — — From: To: Risk & Return Stats As of: 11/30/2022 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. -4.98 - - 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. 23.75 - - 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 - - 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. 82.06 - - 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. 102.61 - - 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 - - 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. 94.80 - - 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. 5.49 - - View All Characteristics & Stats All Characteristics & Stats TimesSquare Global Small Cap Fund (TSYZX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund MSCI World Small Cap Index Fund Assets (Mil.$) $2 Number of Holdings 90 4,524 Weighted Avg. Market Cap (Mil.$) $4,226 $3,619 Median Market Cap (Mil.$) $3,173 $1,187 Weighted Avg. P/E (1-yr Forward EPS) 16.43 11.20 Weighted Avg. P/E (Trailing EPS) 19.80 11.45 PEG Ratio 1.12 0.97 Weighted Avg. P/B 2.61 1.51 EPS Growth (Trailing 3-yr %) 18.23% 14.09% EPS Growth (Trailing 5-yr %) 11.85% 10.92% Forward EPS Growth (1-yr %) 3.78% 1.81% Forward EPS Growth (Long Term %) 13.70% 10.81% Revenue Growth (Trailing 5-yr %) 10.31% 7.79% Return on Equity 16.75% 11.51% Weighted Avg. Dividend Yield 1.67% 2.18% Debt to Equity 72.02 81.48 Trailing 12-Months Portfolio Turnover 53.53% As of: 09/30/2022 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. -4.98 - - 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. 23.75 - - 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 - - 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. 82.06 - - 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. 102.61 - - 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 - - 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. 94.80 - - 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. 5.49 - - 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. -1.00 - - 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. -0.82 - - 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. -34.30 - - As of: 11/30/2022 Market Cap Fund MSCI World Small Cap Index Market Cap ($mm) 0 - 1,000 4.46% 13.45% Market Cap ($mm) 1,000 - 1,500 5.19% 10.47% Market Cap ($mm) 1,500 - 2,500 18.61% 20.23% Market Cap ($mm) 2,500 - 5,000 43.96% 33.27% Market Cap ($mm) 5,000 - 10,000 23.10% 19.52% Market Cap ($mm) 10,000 - 25,000 4.69% 3.01% Market Cap ($mm) 25,000 - 50,000 0.00% 0.02% Market Cap ($mm) 50,000 - 100,000 0.00% 0.00% Market Cap ($mm) 100,000 - 200,000 0.00% 0.00% Market Cap ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.03% As of: 09/30/2022 Valuation Characteristics Fund MSCI World Small Cap Index P/E 0-10 7.27% 26.57% P/E 10-15 13.77% 15.33% P/E 15-20 13.99% 11.70% P/E 20-25 19.00% 8.42% P/E 25-Above 39.49% 23.15% P/E – NA 6.48% 14.83% As of: 09/30/2022 Growth Characteristics Fund MSCI World Small Cap Index EPS Growth (Trailing 3-yr %) - Negative 12.92% 21.34% EPS Growth (Trailing 3-yr %) 0 - 5 14.38% 7.44% EPS Growth (Trailing 3-yr %) 5 - 10 7.17% 6.67% EPS Growth (Trailing 3-yr %) 10 - 15 9.00% 6.83% EPS Growth (Trailing 3-yr %) 15 - 20 9.98% 6.16% EPS Growth (Trailing 3-yr %) Above 20 31.12% 30.94% EPS Growth (Trailing 3-yr %) - NA 15.44% 20.62% As of: 09/30/2022 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 09/30/2022 PJT Partners Inc, Class A 2.61% Chemed Corp 2.43% RenaissanceRe Holdings Ltd 2.35% Kobe Bussan Co Ltd 2.28% CyberArk Software Ltd 2.09% Topdanmark A/S 2.09% Steadfast Group Ltd 2.06% Zenkoku Hosho Co Ltd 2.04% IPH Ltd 2.04% Regal Rexnord Corp 1.96% % in Top 10 Holdings 21.95% View Holding Details Holding Details TimesSquare Global Small Cap Fund (TSYZX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 09/30/2022 PJT Partners Inc, Class A 2.61% Chemed Corp 2.43% RenaissanceRe Holdings Ltd 2.35% Kobe Bussan Co Ltd 2.28% CyberArk Software Ltd 2.09% Topdanmark A/S 2.09% Steadfast Group Ltd 2.06% Zenkoku Hosho Co Ltd 2.04% IPH Ltd 2.04% Regal Rexnord Corp 1.96% % in Top 10 Holdings 21.95% As of: 09/30/2022 Download All Holdings (PDF) As of: 10/31/2022 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund CYBR CyberArk Software Ltd Information Technology S IL USD 300 156.91 $47,073 2.91% NEX Nexans SA Industrials S FR EUR 500 93.38 $46,689 2.89% SDF Steadfast Group Ltd Financials S AU AUD 12,400 3.24 $40,173 2.49% IPH IPH Ltd Industrials S AU AUD 6,000 6.36 $38,159 2.36% NICE Nice Ltd ADR Information Technology S IL USD 200 189.89 $37,978 2.35% PJT PJT Partners Inc, Class A Financials S US USD 500 74.40 $37,200 2.30% 3038 Kobe Bussan Co Ltd Consumer Staples S JP JPY 1,700 21.69 $36,874 2.28% 7164 Zenkoku Hosho Co Ltd Financials S JP JPY 1,100 33.00 $36,297 2.25% CWST Casella Waste Systems Inc, Class A Industrials S US USD 425 81.81 $34,769 2.15% HGV Hilton Grand Vacations Inc Consumer Discretionary S US USD 800 39.24 $31,392 1.94% PFGC Performance Food Group Co Consumer Staples S US USD 600 52.04 $31,224 1.93% RNR RenaissanceRe Holdings Ltd Financials S BM USD 200 154.68 $30,936 1.91% JKHY Jack Henry & Associates Inc Information Technology S US USD 150 199.06 $29,859 1.85% VIS Viscofan SA Consumer Staples S ES EUR 500 59.55 $29,774 1.84% EXPO Exponent Inc Industrials S US USD 300 95.26 $28,578 1.77% BC Brunswick Corp Consumer Discretionary S US USD 400 70.67 $28,268 1.75% 3774 Internet Initiative Japan Inc Communication Services S JP JPY 1,800 15.70 $28,254 1.75% TOP Topdanmark A/S Financials S DK DKK 600 46.15 $27,692 1.71% TATE Tate & Lyle PLC Consumer Staples S GB GBP 3,400 8.04 $27,320 1.69% EHC Encompass Health Corp Health Care S US USD 500 54.44 $27,220 1.68% PLNT Planet Fitness Inc, Class A Consumer Discretionary S US USD 400 65.48 $26,192 1.62% ESAB Esab Corp Industrials S US USD 700 37.30 $26,110 1.62% EYE National Vision Holdings Inc Consumer Discretionary S US USD 700 37.04 $25,928 1.60% HUH1V Huhtamaki Oyj Materials S FI EUR 700 35.94 $25,158 1.56% SAABB Saab AB Industrials S SE SEK 700 35.33 $24,734 1.53% FOCS Focus Financial Partners Inc, Class A Financials S US USD 700 34.79 $24,353 1.51% ZWS Zurn Elkay Water Solutions Corp Industrials S US USD 1,000 23.49 $23,490 1.45% CHE Chemed Corp Health Care S US USD 50 466.87 $23,344 1.44% GTT Gaztransport Et Technigaz SA Energy S FR EUR 200 116.34 $23,268 1.44% MTSI MACOM Technology Solutions Holdings Inc Information Technology S US USD 400 57.87 $23,148 1.43% FBK FinecoBank Banca Fineco SpA Financials S IT EUR 1,700 13.48 $22,909 1.42% MODG Topgolf Callaway Brands Corp Consumer Discretionary S US USD 1,200 18.72 $22,464 1.39% WNS WNS Holdings Ltd ADR Information Technology S IN USD 250 86.08 $21,520 1.33% EME EMCOR Group Inc Industrials S US USD 150 141.10 $21,165 1.31% SPT Spirent Communications PLC Information Technology S GB GBP 7,000 2.97 $20,779 1.29% CIE CIE Automotive SA Consumer Discretionary S ES EUR 800 25.47 $20,379 1.26% HXL Hexcel Corp Industrials S US USD 350 55.70 $19,495 1.21% 4373 Simplex Holdings Inc Information Technology S JP JPY 1,200 15.94 $19,127 1.18% DOW Downer EDI Ltd Industrials S AU AUD 6,600 2.87 $18,968 1.17% ASND Ascendis Pharma A/S ADR Health Care S DK USD 150 115.00 $17,250 1.07% WSC WillScot Mobile Mini Holdings Corp, Class A Industrials S US USD 400 42.53 $17,012 1.05% ROR Rotork PLC Industrials S GB GBP 5,800 2.93 $17,000 1.05% TOTS3 Totvs SA Information Technology S BR BRL 2,583 6.46 $16,697 1.03% KW Kennedy-Wilson Holdings Inc Real Estate S US USD 1,000 16.61 $16,610 1.03% ALKB ALK-Abello A/S, Class B Health Care S DK DKK 1,000 16.53 $16,534 1.02% PAX Patria Investments Ltd, Class A Financials S KY USD 1,100 14.22 $15,642 0.97% TOY Spin Master Corp 144A Consumer Discretionary S CA CAD 500 30.90 $15,451 0.96% TGS TGS ASA Energy S NO NOK 1,100 13.61 $14,976 0.93% SFZN Siegfried Holding Ag Health Care S CH CHF 25 595.28 $14,882 0.92% GAW Games Workshop Group PLC Consumer Discretionary S GB GBP 200 73.40 $14,681 0.91% RS1 RS GROUP PLC Industrials S GB GBP 1,300 11.00 $14,304 0.89% DPLM Diploma PLC Industrials S GB GBP 500 28.44 $14,221 0.88% VRLA Verallia SA 144A Materials S FR EUR 500 28.33 $14,167 0.88% AZEK AZEK Co Inc, Class A Industrials S US USD 800 17.51 $14,008 0.87% KWS Keywords Studios PLC Information Technology S IE GBP 500 27.65 $13,827 0.86% VALMT Valmet OYJ Industrials S FI EUR 600 22.74 $13,646 0.84% SAVE Nordnet AB publ Financials S SE SEK 1,100 12.39 $13,627 0.84% ARCAD Arcadis NV Industrials S NL EUR 400 33.94 $13,575 0.84% 2345 Accton Technology Corp Information Technology S TW TWD 1,800 7.52 $13,536 0.84% 8174 Nippon Gas Co Ltd Utilities S JP JPY 900 14.53 $13,074 0.81% VC Visteon Corp Consumer Discretionary S US USD 100 130.47 $13,047 0.81% RRX Regal Rexnord Corp Industrials S US USD 100 126.54 $12,654 0.78% AUTO Auto Trader Group PLC 144A Communication Services S GB GBP 2,100 5.99 $12,570 0.78% STJ St James's Place PLC Financials S GB GBP 1,000 12.21 $12,212 0.76% 6134 Fuji Corp Industrials S JP JPY 900 13.20 $11,884 0.74% DHG Dalata Hotel Group PLC Consumer Discretionary S IE EUR 3,700 3.21 $11,870 0.73% PSI Pason Systems Inc Energy S CA CAD 1,000 10.62 $10,621 0.66% 8454 momo.com Inc Consumer Discretionary S TW TWD 708 14.92 $10,563 0.65% MKSI MKS Instruments Inc Information Technology S US USD 125 82.15 $10,269 0.64% AFN Ag Growth International Inc Industrials S CA CAD 400 25.62 $10,247 0.63% 5857 Asahi Holdings Inc Materials S JP JPY 800 12.75 $10,203 0.63% 354 Chinasoft International Ltd Information Technology S CN HKD 13,500 0.66 $8,945 0.55% 7476 As One Corp Health Care S JP JPY 200 42.64 $8,528 0.53% FNOX Fortnox AB Information Technology S SE SEK 2,000 4.25 $8,500 0.53% KGX KION Group AG Industrials S DE EUR 366 22.17 $8,114 0.50% IP Interpump Group SpA Industrials S IT EUR 200 38.72 $7,743 0.48% AMP Amplifon SpA Health Care S IT EUR 300 24.84 $7,453 0.46% 7649 Sugi Holdings Co Ltd Consumer Staples S JP JPY 150 40.11 $6,016 0.37% VPLAYB Viaplay Group AB, Class B Communication Services S SE SEK 300 18.26 $5,477 0.34% CPLF Copperleaf Technologies Inc Information Technology S CA CAD 500 2.88 $1,439 0.09% Cash & Equivalents Cash C US USD - - $4,220 0.26% Fund Holdings Sort order Avg. Weight Total Return Regal Rexnord Corp 1 1.69% 23.86% CyberArk Software Ltd 2 1.80% 17.18% Silvergate Capital Corp, Class A 3 0.85% 40.76% Afya Ltd, Class A 4 0.48% 28.64% Totvs SA 5 1.22% 22.38% Nexans SA 6 1.37% 16.45% MACOM Technology Solutions Holdings Inc 7 1.23% 12.34% National Vision Holdings Inc 8 1.14% 18.73% EMCOR Group Inc 9 1.72% 12.26% WillScot Mobile Mini Holdings Corp, Class A 10 0.81% 24.40% As of: 09/30/2022 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Fund Holdings Sort order Avg. Weight Total Return KION Group AG 20 1.27% -53.10% Chinasoft International Ltd 19 0.76% -39.87% Saab AB 18 1.11% -24.05% Steadfast Group Ltd 17 2.19% -12.49% K Car Co Ltd 16 0.59% -38.78% Topdanmark A/S 15 2.04% -9.83% RenaissanceRe Holdings Ltd 14 2.11% -10.00% Internet Initiative Japan Inc 13 0.80% -16.94% Tate & Lyle PLC 12 1.36% -16.59% Huhtamaki Oyj 11 1.30% -18.28% As of: 09/30/2022 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: 09/30/2022 View Allocation Details Allocation Details TimesSquare Global Small Cap Fund (TSYZX) Sector Allocation (Equity) Investment Allocation Country Allocation Regional Allocation Top 10 Industries Sector Sort Order Fund MSCI World Small Cap Index Industrials 25.51% 18.54% Financials 16.64% 14.47% Information Technology 14.91% 11.24% Consumer Discretionary 12.67% 12.07% Health Care 7.92% 11.42% Consumer Staples 7.01% 4.89% Cash & Other 5.91% 0.00% Communication Services 3.37% 2.73% Materials 2.50% 7.33% Energy 1.98% 5.17% Real Estate 0.86% 9.00% Utilities 0.71% 3.15% As of: 09/30/2022 Investment Allocation 09/30/2022 Stocks 94.09% Bonds 0.00% Cash and Other 5.91% As of: 09/30/2022 Country Fund MSCI World Small Cap Index United States 34.38% 61.41% Japan 10.20% 11.22% United Kingdom 9.77% 5.12% Australia 5.17% 3.73% Denmark 3.83% 0.63% Israel 3.67% 1.12% France 3.35% 1.18% Sweden 3.18% 1.85% Spain 2.45% 0.62% Bermuda 2.35% 0.00% Italy 1.97% 0.98% Finland 1.92% 0.51% Taiwan 1.47% 0.00% Ireland 1.42% 0.23% Brazil 1.40% 0.00% % in Top 15 Countries 86.53% 88.6% As of: 09/30/2022 Region Fund MSCI World Small Cap Index Developed 85.49% 100.00% Europe & Middle East 34.77% 17.62% North America 35.35% 65.49% Pacific 15.37% 16.89% Emerging 5.12% 0.00% Asia 3.72% 0.00% Latin America 1.40% 0.00% Europe & Middle East 0.00% 0.00% Africa 0.00% 0.00% Frontier 0.00% 0.00% Africa 0.00% 0.00% Asia 0.00% 0.00% Europe 0.00% 0.00% Latin America 0.00% 0.00% Middle East 0.00% 0.00% Cash & Other 9.40% 0.00% As of: 09/30/2022 Industry Fund MSCI World Small Cap Index Insurance 6.50% 2.60% Capital Markets 6.10% 2.32% Software 5.62% 3.73% IT Services 5.07% 2.00% Health Care Providers & Services 4.59% 2.43% Machinery 4.51% 4.50% Professional Services 4.50% 1.90% Leisure Products 4.30% 0.73% Commercial Services & Supplies 4.19% 1.83% Food & Staples Retailing 4.05% 1.43% % in Top 10 Industries 49.43% 23.47% As of: 09/30/2022 Read Important Investment Disclosures Investment Approach Investment Approach TimesSquare Global Small Cap Fund The Fund seeks to outperform the MSCI World Small Cap Index over a full market cycle. TimesSquare’s investment team uses a bottom up, fundamental research-intensive approach to identify small cap stocks around the globe with the greatest potential to achieve price appreciation over a 12- to 18-month horizon. Equity Style Analysis: Growth vs. Value The global investment environment has fundamentally changed. Value has shifted to outperform Growth; will the trend continue? Read Full Perspective About About TimesSquare Capital Management Background 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 More Funds From TimesSquare Capital Management TQENX TimesSquare Emerging Markets Small Cap Fund The Fund seeks to outperform the MSCI Emerging Markets Small Cap Index over a full market cycle. View Fund Details TCMPX TimesSquare International Small Cap Fund The Fund seeks to outperform the MSCI EAFE Small Cap Index over a full market cycle. View Fund Details TMDPX TimesSquare Mid Cap Growth Fund Seeks to provide long-term capital appreciation by investing primarily in mid cap companies. View Fund Details TSCPX TimesSquare Small Cap Growth Fund Seeks to provide long-term capital appreciation by primarily investing in small cap companies. View Fund Details Read Important Investment Disclosures Founded 2000 Headquarters New York, NY Affiliate Since 2004 Discover how the boutique advantage helps generate alpha. Learn More About AMG