Fund Overview Fund Overview Share Class Z N I Z NAV | as of 12/05/2023 $16.38 -$0.08 (-0.49%) Morningstar | Style Box V B G L M S Overall Morningstar Rating Rated against 521 Mid-Cap Growth funds as of 10/31/2023 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 03/04/2005 to 11/30/2023 = $63,299.22 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 800.548.4539. 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. View Performance Read Important Investment Disclosures Objective Seeks to provide long-term capital appreciation by investing primarily in mid cap companies. Why Consider May be appropriate for investors looking to gain exposure to mid cap companies TimesSquare leverages its wealth of experience investing in growing companies climbing the capitalization ladder, 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 Estimates View All Documents Sonu Chawla DIRECTOR, PORTFOLIO MANAGER/ANALYST, AND PARTNER See Our Approach Read Bio Grant R. Babyak SENIOR FOUNDING PARTNER, MANAGING DIRECTOR, AND PORTFOLIO MANAGER See Our Approach Read Bio Investment Style TimesSquare Mid Cap Growth Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective TimesSquare Mid Cap Growth Fund is categorized as Mid-Growth. It invests in medium-cap companies with high risk. Morningstar Ratings Risk-adjusted returns as of 10/31/2023 Overall Rating (of 521) 3 Years (of 521) 5 Years (of 493) 10 Years (of 396) Category Mid-Cap Growth Read Important Investment Disclosures Sonu Chawla DIRECTOR, PORTFOLIO MANAGER/ANALYST, AND PARTNER Ms. Chawla has served as co-manager of the Fund since May 2022. She is a Director, Portfolio Manager/Analyst, and Partner in TimesSquare’s growth equity group and has 22 years of experience. She is responsible for research coverage of the Software, Technology Services, and Internet & Communications sectors within the technology, media, and telecommunications (“TMT”) industry. Ms. Chawla joined TimesSquare in August 2018 from Pine River Capital Management, a multi-strategy hedge fund where she was a Senior Analyst covering TMT sectors across Software, Internet, Services, Hardware, and Telecom. Her previous research analyst experiences were as a Senior TMT Analyst at Surveyor Capital platform of Citadel and an Analyst at Fred Alger Management. Ms. Chawla has an MS in mathematics and computer science from Indian Institute of Technology, Delhi, and an MBA from Kellogg School of Management at Northwestern University. She is a member of the CFA Institute and the CFA Society New York. Ms. Chawla is conversational in Hindi. 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. 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 less than one year are not annualized. Expense Ratios Gross Expense Ratio: 0.98% Net Expense Ratio: 0.98% 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 15, 2022 $0.509600 — — $0.509600 Dec 15, 2021 $5.465700 $0.036000 $0.522100 $4.907600 Dec 16, 2020 $3.775200 — $0.137400 $3.637800 Dec 16, 2019 $2.855600 — $0.058700 $2.796900 Dec 27, 2018 $2.535500 — $0.290200 $2.245300 Dec 27, 2017 $2.724000 — $0.270500 $2.453500 Dec 27, 2016 $1.038700 $0.008900 — $1.029800 Dec 28, 2015 $1.340100 — — $1.340100 Dec 26, 2014 $0.947300 — $0.063700 $0.883600 Dec 26, 2013 $2.065800 — $0.100400 $1.965400 Dec 26, 2012 $0.778300 — — $0.778300 Dec 27, 2011 $0.438100 — — $0.438100 Dec 26, 2008 $0.090260 $0.002300 $0.044530 $0.043430 Dec 26, 2007 $0.833500 $0.037800 $0.431700 $0.364000 Dec 26, 2006 $0.193200 $0.000500 $0.135300 $0.057400 Dec 27, 2005 $0.057000 $0.018000 $0.039000 — From: To: Risk & Return Stats As of: 11/30/2023 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. 3.29 2.67 1.29 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. 17.85 20.06 16.13 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. 0.10 0.50 0.57 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. 95.56 89.98 80.72 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. 90.03 92.98 95.20 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. 0.84 0.88 0.89 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. 96.13 96.88 96.25 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. 4.82 4.42 3.72 View All Characteristics & Stats All Characteristics & Stats TimesSquare Mid Cap Growth Fund (TMDIX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell Midcap® Growth Index Fund Assets (Mil.$) $1,166 Number of Holdings 72 335 Weighted Avg. Market Cap (Mil.$) $26,445 $24,483 Median Market Cap (Mil.$) $17,179 $10,894 Weighted Avg. P/E (1-yr Forward EPS) 22.68 22.45 Weighted Avg. P/E (Trailing EPS) 26.24 26.74 PEG Ratio 1.18 1.33 Weighted Avg. P/B 5.29 7.66 EPS Growth (Trailing 3-yr %) 22.63% 18.31% EPS Growth (Trailing 5-yr %) 21.22% 18.31% Forward EPS Growth (1-yr %) 7.28% 10.42% Forward EPS Growth (Long Term %) 13.85% 15.17% Revenue Growth (Trailing 5-yr %) 16.91% 16.53% Return on Equity 11.95% 19.93% Weighted Avg. Dividend Yield 0.61% 0.75% Debt to Equity 108.44 130.56 Trailing 12-Months Portfolio Turnover 37.36% As of: 09/30/2023 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. 3.29 2.67 1.29 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. 17.85 20.06 16.13 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. 0.10 0.50 0.57 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. 95.56 89.98 80.72 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. 90.03 92.98 95.20 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. 0.84 0.88 0.89 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. 96.13 96.88 96.25 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. 4.82 4.42 3.72 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. 0.72 0.42 0.09 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. 2.14 11.39 10.40 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. -25.88 -25.88 -25.88 As of: 11/30/2023 Market Cap Fund Russell Midcap® Growth Index Market Cap ($mm) 0 - 1,000 0.00% 0.01% Market Cap ($mm) 1,000 - 1,500 1.32% 0.06% Market Cap ($mm) 1,500 - 2,500 2.50% 0.37% Market Cap ($mm) 2,500 - 5,000 2.06% 2.80% Market Cap ($mm) 5,000 - 10,000 17.98% 14.45% Market Cap ($mm) 10,000 - 25,000 29.78% 38.25% Market Cap ($mm) 25,000 - 50,000 35.59% 41.15% Market Cap ($mm) 50,000 - 100,000 10.77% 2.92% Market Cap ($mm) 100,000 - 200,000 0.00% 0.00% Market Cap ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 09/30/2023 Valuation Characteristics Fund Russell Midcap® Growth Index P/E 0-10 3.70% 3.12% P/E 10-15 1.64% 2.79% P/E 15-20 7.75% 8.64% P/E 20-25 13.50% 11.88% P/E 25-Above 55.72% 57.34% P/E – NA 17.69% 16.23% As of: 09/30/2023 Growth Characteristics Fund Russell Midcap® Growth Index EPS Growth (Trailing 3-yr %) - Negative 11.34% 11.64% EPS Growth (Trailing 3-yr %) 0 - 5 5.37% 3.29% EPS Growth (Trailing 3-yr %) 5 - 10 3.73% 6.82% EPS Growth (Trailing 3-yr %) 10 - 15 8.88% 7.93% EPS Growth (Trailing 3-yr %) 15 - 20 13.44% 11.45% EPS Growth (Trailing 3-yr %) Above 20 36.30% 34.21% EPS Growth (Trailing 3-yr %) - NA 20.93% 24.66% As of: 09/30/2023 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 09/30/2023 Gartner Inc 2.70% O'Reilly Automotive Inc 2.57% Palo Alto Networks Inc 2.54% Waste Connections Inc 2.50% Cintas Corp 2.49% Synopsys Inc 2.32% Cheniere Energy Inc 2.31% Cencora Inc 2.28% RenaissanceRe Holdings Ltd 2.07% Chemed Corp 2.07% % in Top 10 Holdings 23.85% View Holding Details Holding Details TimesSquare Mid Cap Growth Fund (TMDIX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 09/30/2023 Gartner Inc 2.70% O'Reilly Automotive Inc 2.57% Palo Alto Networks Inc 2.54% Waste Connections Inc 2.50% Cintas Corp 2.49% Synopsys Inc 2.32% Cheniere Energy Inc 2.31% Cencora Inc 2.28% RenaissanceRe Holdings Ltd 2.07% Chemed Corp 2.07% % in Top 10 Holdings 23.85% As of: 09/30/2023 Download All Holdings (PDF) As of: 10/31/2023 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund ORLY O'Reilly Automotive Inc Consumer Discretionary S US USD 34,300 930.44 $31,914,092 2.86% CTAS Cintas Corp Industrials S US USD 60,300 507.12 $30,579,336 2.74% PANW Palo Alto Networks Inc Information Technology S US USD 121,617 243.02 $29,555,363 2.65% WCN Waste Connections Inc Industrials S US USD 216,775 129.50 $28,072,363 2.52% IT Gartner Inc Information Technology S US USD 82,925 332.04 $27,534,417 2.47% LNG Cheniere Energy Inc Energy S US USD 162,200 166.42 $26,993,324 2.42% COR Cencora Inc Health Care S US USD 145,700 185.15 $26,976,355 2.42% RNR RenaissanceRe Holdings Ltd Financials S BM USD 122,200 219.59 $26,833,898 2.41% CHE Chemed Corp Health Care S US USD 47,425 562.65 $26,683,676 2.39% SNPS Synopsys Inc Information Technology S US USD 53,965 469.44 $25,333,330 2.27% VRSK Verisk Analytics Inc, Class A Industrials S US USD 100,000 227.36 $22,736,000 2.04% CRWD Crowdstrike Holdings Inc, Class A Information Technology S US USD 128,600 176.77 $22,732,622 2.04% ROST Ross Stores Inc Consumer Discretionary S US USD 182,600 115.97 $21,176,122 1.90% IDXX IDEXX Laboratories Inc Health Care S US USD 52,300 399.47 $20,892,281 1.87% DXCM DexCom Inc Health Care S US USD 233,800 88.83 $20,768,454 1.86% APH Amphenol Corp, Class A Information Technology S US USD 237,400 80.55 $19,122,570 1.72% IBKR Interactive Brokers Group Inc, Class A Financials S US USD 233,200 80.07 $18,672,324 1.67% MCHP Microchip Technology Inc Information Technology S US USD 245,800 71.29 $17,523,082 1.57% HUBS HubSpot Inc Information Technology S US USD 40,200 423.77 $17,035,554 1.53% TPG TPG Inc, Class A Financials S US USD 604,720 27.64 $16,714,461 1.50% PINS Pinterest Inc, Class A Communication Services S US USD 558,400 29.88 $16,684,992 1.50% BSY Bentley Systems Inc, Class B Information Technology S US USD 340,300 48.64 $16,552,192 1.48% CSGP CoStar Group Inc Real Estate S US USD 224,200 73.41 $16,458,522 1.48% VEEV Veeva Systems Inc, Class A Health Care S US USD 82,600 192.71 $15,917,846 1.43% AME AMETEK Inc Industrials S US USD 111,800 140.77 $15,738,086 1.41% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 228,500 68.12 $15,565,420 1.40% MLM Martin Marietta Materials Inc Materials S US USD 38,000 408.94 $15,539,720 1.39% TER Teradyne Inc Information Technology S US USD 182,800 83.27 $15,221,756 1.37% TYL Tyler Technologies Inc Information Technology S US USD 40,600 372.90 $15,139,740 1.36% LEGN Legend Biotech Corp ADR Health Care S US USD 226,900 66.07 $14,991,283 1.34% HXL Hexcel Corp Industrials S US USD 236,000 61.92 $14,613,120 1.31% ICLR ICON PLC Health Care S IE USD 58,300 243.96 $14,222,868 1.28% EHC Encompass Health Corp Health Care S US USD 226,300 62.56 $14,157,328 1.27% STVN Stevanato Group SpA Health Care S IT USD 501,045 27.95 $14,004,208 1.26% CSL Carlisle Cos Inc Industrials S US USD 54,900 254.09 $13,949,541 1.25% NICE Nice Ltd ADR Information Technology S IL USD 89,800 154.35 $13,860,630 1.24% PXD Pioneer Natural Resources Co Energy S US USD 57,900 239.00 $13,838,100 1.24% MPWR Monolithic Power Systems Inc Information Technology S US USD 31,100 441.74 $13,738,114 1.23% BC Brunswick Corp Consumer Discretionary S US USD 197,500 69.47 $13,720,325 1.23% FND Floor & Decor Holdings Inc, Class A Consumer Discretionary S US USD 163,100 82.40 $13,439,440 1.21% SMAR Smartsheet Inc, Class A Information Technology S US USD 335,400 39.54 $13,261,716 1.19% ARGX Argenx SE ADR Health Care S NL USD 27,700 469.57 $13,007,089 1.17% APTV Aptiv PLC Consumer Discretionary S IE USD 147,900 87.20 $12,896,880 1.16% WSO Watsco Inc Industrials S US USD 36,300 348.89 $12,664,707 1.14% CYBR CyberArk Software Ltd Information Technology S IL USD 75,200 163.64 $12,305,728 1.10% ESTC Elastic NV Information Technology S US USD 163,700 75.04 $12,284,048 1.10% PCTY Paylocity Holding Corp Industrials S US USD 67,300 179.40 $12,073,620 1.08% ASND Ascendis Pharma A/S ADR Health Care S DK USD 126,800 89.31 $11,324,508 1.02% POOL Pool Corp Consumer Discretionary S US USD 35,150 315.77 $11,099,316 1.00% CPRT Copart Inc Industrials S US USD 254,800 43.52 $11,088,896 0.99% BRO Brown & Brown Inc Financials S US USD 156,300 69.42 $10,850,346 0.97% GFL GFL Environmental Inc Industrials S CA USD 370,904 28.82 $10,689,453 0.96% RPM RPM International Inc Materials S US USD 116,700 91.27 $10,651,209 0.96% AZPN Aspen Technology Inc Information Technology S US USD 59,000 177.75 $10,487,250 0.94% HCP HashiCorp Inc, Class A Information Technology S US USD 522,800 19.69 $10,293,932 0.92% WEX WEX Inc Financials S US USD 61,300 166.48 $10,205,224 0.92% NDSN Nordson Corp Industrials S US USD 47,000 212.59 $9,991,730 0.90% ROK Rockwell Automation Inc Industrials S US USD 37,500 262.81 $9,855,375 0.88% FIVE Five Below Inc Consumer Discretionary S US USD 56,300 173.98 $9,795,074 0.88% EFX Equifax Inc Industrials S US USD 57,600 169.57 $9,767,232 0.88% TSCO Tractor Supply Co Consumer Discretionary S US USD 46,300 192.56 $8,915,528 0.80% MRVL Marvell Technology Inc Information Technology S US USD 181,560 47.22 $8,573,263 0.77% TTWO Take-Two Interactive Software Inc Communication Services S US USD 62,300 133.75 $8,332,625 0.75% IAC IAC Inc Communication Services S US USD 181,600 42.55 $7,727,080 0.69% LSCC Lattice Semiconductor Corp Information Technology S US USD 101,900 55.61 $5,666,659 0.51% RGEN Repligen Corp Health Care S US USD 38,548 134.56 $5,187,019 0.47% OLED Universal Display Corp Information Technology S US USD 36,300 139.18 $5,052,234 0.45% SAIA Saia Inc Industrials S US USD 11,570 358.49 $4,147,729 0.37% IOT Samsara Inc, Class A Information Technology S US USD 176,600 23.07 $4,074,162 0.37% KNX Knight-Swift Transportation Holdings Inc, Class A Industrials S US USD 65,600 48.89 $3,207,184 0.29% Cash & Equivalents Cash C US USD - - $54,114,334 4.85% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Elastic NV 1 0.96% 26.70% Crowdstrike Holdings Inc, Class A 2 1.68% 13.96% Aspen Technology Inc 3 0.98% 21.87% Cheniere Energy Inc 4 2.19% 9.11% BJ's Wholesale Club Holdings Inc 5 1.36% 13.27% Argenx SE ADR 6 1.09% 26.15% Synopsys Inc 7 2.46% 5.41% RenaissanceRe Holdings Ltd 8 1.99% 6.31% Pioneer Natural Resources Co 9 1.14% 11.38% Verisk Analytics Inc, Class A 10 1.95% 4.62% As of: 09/30/2023 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 Equifax Inc 20 1.20% -22.05% Nice Ltd ADR 19 1.45% -17.68% Shockwave Medical Inc 18 0.60% -26.62% GFL Environmental Inc 17 1.42% -18.12% CoStar Group Inc 16 1.72% -13.61% Keysight Technologies Inc 15 0.92% -20.99% IDEXX Laboratories Inc 14 1.72% -12.93% Monolithic Power Systems Inc 13 1.46% -14.35% HashiCorp Inc, Class A 12 0.73% -22.14% Palo Alto Networks Inc 11 2.55% -8.25% As of: 09/30/2023 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: 09/30/2023 View Allocation Details Allocation Details TimesSquare Mid Cap Growth Fund (TMDIX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell Midcap® Growth Index Information Technology 29.43% 22.22% Health Care 18.52% 20.29% Industrials 18.39% 19.47% Consumer Discretionary 11.22% 12.74% Financials 7.39% 10.54% Energy 3.58% 4.41% Cash & Other 3.25% 0.00% Communication Services 2.80% 4.15% Materials 2.43% 1.27% Real Estate 1.58% 1.61% Consumer Staples 1.40% 2.94% Utilities 0.00% 0.35% As of: 09/30/2023 Investment Allocation 09/30/2023 Stocks 96.75% Bonds 0.00% Cash and Other 3.25% As of: 09/30/2023 Industry Fund Russell Midcap® Growth Index Software 18.23% 11.67% Commercial Services & Supplies 7.85% 3.40% Specialty Retail 7.31% 4.30% Semiconductors & Semiconductor Equipment 6.07% 3.52% Health Care Providers & Services 5.60% 2.38% Health Care Equipment & Supplies 4.99% 5.64% Professional Services 4.14% 5.25% Oil, Gas & Consumable Fuels 3.58% 4.15% Biotechnology 3.49% 4.91% Capital Markets 3.39% 4.87% % in Top 10 Industries 64.65% 50.09% As of: 09/30/2023 Read Important Investment Disclosures Investment Approach Investment Approach TimesSquare Mid Cap Growth Fund The Fund seeks to outperform the Russell Midcap® Growth Index in a risk-controlled manner. The TimesSquare portfolio management team uses a bottom-up, fundamental research-intensive approach to identify mid 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 Midcap® Index at time of purchase. Keep Calm and Remain Diversified A short- and long-term review on the power of diversification. Read More 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 Products 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 TSYNX TimesSquare Global Small Cap Fund Seeks to provide long-term capital appreciation by primarily investing in small cap companies around the globe. 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 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