Fund Overview Fund Overview Share Class N N I Z NAV | as of 09/29/2023 $10.33 -$0.06 (-0.58%) Morningstar | Style Box V B G L M S Growth of $10,000 (Hypothetical) Since Inception 01/21/2000 to 08/31/2023 = $67,652.14 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 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 2022 Year End Distributions View All Documents Grant R. Babyak SENIOR FOUNDING PARTNER, MANAGING DIRECTOR, AND PORTFOLIO MANAGER See Our Approach Read Bio Kenneth C. Duca, CFA DIRECTOR AND PORTFOLIO MANAGER/ANALYST See Our Approach Read Bio 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 08/31/2023 Overall Rating (of 562) 3 Years (of 562) 5 Years (of 526) 10 Years (of 393) 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 less than one year are not annualized. Expense Ratios Gross Expense Ratio: 1.20% Net Expense Ratio: 1.19% Expense Cap Expiration Date: 05/01/2024 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 $0.690100 — — $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 $0.544100 $0.030900 — $0.513200 Dec 28, 2015 $1.767300 — $0.221900 $1.545400 Dec 26, 2014 $0.875200 — $0.083900 $0.791300 Dec 26, 2013 $1.100300 — — $1.100300 Dec 26, 2012 $1.380000 — $0.091300 $1.288700 Dec 27, 2011 $0.594000 — — $0.594000 Dec 26, 2008 $0.334580 — $0.096640 $0.237940 Dec 26, 2007 $2.052400 — $0.361800 $1.690600 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 $0.380833 $0.046635 — $0.334198 Dec 23, 2003 $0.146397 $0.114975 — $0.031422 Dec 28, 2000 $0.149001 $0.149001 — — From: To: Risk & Return Stats As of: 08/31/2023 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. 0.28 1.04 0.34 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. 21.73 24.44 19.57 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. 0.05 0.07 0.36 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. 96.91 99.79 86.88 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. 98.28 98.74 98.38 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. 0.95 0.98 0.95 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. 94.23 95.46 94.22 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. 5.36 5.23 4.80 View All Characteristics & Stats All Characteristics & Stats TimesSquare Small Cap Growth Fund (TSCPX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell 2000® Growth Index Fund Assets (Mil.$) $189 Number of Holdings 82 1,089 Weighted Avg. Market Cap (Mil.$) $4,598 $3,393 Median Market Cap (Mil.$) $3,816 $1,294 Weighted Avg. P/E (1-yr Forward EPS) 22.07 19.04 Weighted Avg. P/E (Trailing EPS) 22.83 20.87 PEG Ratio 1.80 1.11 Weighted Avg. P/B 3.51 4.03 EPS Growth (Trailing 3-yr %) 23.03% 20.72% EPS Growth (Trailing 5-yr %) 19.12% 18.48% Forward EPS Growth (1-yr %) -1.82% 3.37% Forward EPS Growth (Long Term %) 12.58% 14.80% Revenue Growth (Trailing 5-yr %) 15.79% 13.21% Return on Equity 8.02% 5.49% Weighted Avg. Dividend Yield 0.49% 0.60% Debt to Equity 71.98 82.90 Trailing 12-Months Portfolio Turnover 55.89% As of: 06/30/2023 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. 0.28 1.04 0.34 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. 21.73 24.44 19.57 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. 0.05 0.07 0.36 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. 96.91 99.79 86.88 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. 98.28 98.74 98.38 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. 0.95 0.98 0.95 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. 94.23 95.46 94.22 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. 5.36 5.23 4.80 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. 0.02 0.18 -0.01 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. 1.23 1.73 7.39 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. -34.15 -34.15 -34.15 As of: 08/31/2023 Market Cap Fund Russell 2000® Growth Index Market Cap ($mm) 0 - 1,000 3.35% 9.59% Market Cap ($mm) 1,000 - 1,500 1.86% 9.73% Market Cap ($mm) 1,500 - 2,500 14.61% 18.74% Market Cap ($mm) 2,500 - 5,000 46.12% 43.96% Market Cap ($mm) 5,000 - 10,000 32.00% 16.85% Market Cap ($mm) 10,000 - 25,000 2.07% 0.97% Market Cap ($mm) 25,000 - 50,000 0.00% 0.16% Market Cap ($mm) 50,000 - 100,000 0.00% 0.00% Market Cap ($mm) 100,000 - 200,000 0.00% 0.00% Market Cap ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 06/30/2023 Valuation Characteristics Fund Russell 2000® Growth Index P/E 0-10 5.26% 5.44% P/E 10-15 4.56% 7.71% P/E 15-20 8.65% 9.60% P/E 20-25 7.77% 8.40% P/E 25-Above 44.19% 37.38% P/E – NA 29.57% 31.47% As of: 06/30/2023 Growth Characteristics Fund Russell 2000® Growth Index EPS Growth (Trailing 3-yr %) - Negative 8.32% 12.83% EPS Growth (Trailing 3-yr %) 0 - 5 5.92% 4.20% EPS Growth (Trailing 3-yr %) 5 - 10 5.02% 3.32% EPS Growth (Trailing 3-yr %) 10 - 15 0.94% 3.60% EPS Growth (Trailing 3-yr %) 15 - 20 6.29% 3.92% EPS Growth (Trailing 3-yr %) Above 20 31.60% 30.57% EPS Growth (Trailing 3-yr %) - NA 41.91% 41.56% As of: 06/30/2023 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 06/30/2023 Casella Waste Systems Inc, Class A 3.35% WNS Holdings Ltd ADR 2.69% Esab Corp 2.45% PowerSchool Holdings Inc, Class A 2.43% Hamilton Lane Inc, Class A 2.24% Matador Resources Co, Class A 2.13% ExlService Holdings Inc 2.03% Driven Brands Holdings Inc 2.00% EMCOR Group Inc 1.91% Victory Capital Holdings Inc, Class A 1.87% % in Top 10 Holdings 23.11% View Holding Details Holding Details TimesSquare Small Cap Growth Fund (TSCPX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 06/30/2023 Casella Waste Systems Inc, Class A 3.35% WNS Holdings Ltd ADR 2.69% Esab Corp 2.45% PowerSchool Holdings Inc, Class A 2.43% Hamilton Lane Inc, Class A 2.24% Matador Resources Co, Class A 2.13% ExlService Holdings Inc 2.03% Driven Brands Holdings Inc 2.00% EMCOR Group Inc 1.91% Victory Capital Holdings Inc, Class A 1.87% % in Top 10 Holdings 23.11% As of: 06/30/2023 Download All Holdings (PDF) As of: 08/31/2023 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund CWST Casella Waste Systems Inc, Class A Industrials S US USD 78,000 78.77 $6,144,060 3.26% IWO iShares Russell 2000 Growth ETF Other Equities S US USD 19,500 240.67 $4,693,065 2.49% WNS WNS Holdings Ltd ADR Industrials S IN USD 69,000 65.35 $4,509,150 2.39% MTDR Matador Resources Co, Class A Energy S US USD 70,500 63.50 $4,476,750 2.37% PWSC PowerSchool Holdings Inc, Class A Information Technology S US USD 180,500 22.12 $3,992,660 2.12% EME EMCOR Group Inc Industrials S US USD 16,900 224.25 $3,789,825 2.01% ESAB Esab Corp Industrials S US USD 52,000 72.17 $3,752,840 1.99% WHD Cactus Inc, Class A Energy S US USD 70,100 53.34 $3,739,134 1.98% HXL Hexcel Corp Industrials S US USD 49,800 73.30 $3,650,340 1.94% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 53,500 67.39 $3,605,365 1.91% VCTR Victory Capital Holdings Inc, Class A Financials S US USD 101,000 34.42 $3,476,420 1.84% FROG JFrog Ltd Information Technology S IL USD 116,600 28.69 $3,345,254 1.77% HLNE Hamilton Lane Inc, Class A Financials S US USD 35,400 92.79 $3,284,766 1.74% WK Workiva Inc, Class A Information Technology S US USD 28,052 111.85 $3,137,616 1.66% VC Visteon Corp Consumer Discretionary S US USD 22,500 139.27 $3,133,575 1.66% ATRC AtriCure Inc Health Care S US USD 68,200 45.15 $3,079,230 1.63% HQY HealthEquity Inc Health Care S US USD 44,000 67.55 $2,972,200 1.58% RETA Reata Pharmaceuticals Inc, Class A Health Care S US USD 17,500 169.00 $2,957,500 1.57% ONTO Onto Innovation Inc Information Technology S US USD 21,000 138.98 $2,918,580 1.55% VERX Vertex Inc, Class A Information Technology S US USD 129,700 22.39 $2,903,983 1.54% KLIC Kulicke & Soffa Industries Inc Information Technology S SG USD 55,000 51.73 $2,845,150 1.51% EXPO Exponent Inc Industrials S US USD 30,500 89.86 $2,740,730 1.45% ASND Ascendis Pharma A/S ADR Health Care S DK USD 27,000 98.02 $2,646,540 1.40% SYNA Synaptics Inc Information Technology S US USD 30,100 87.54 $2,634,954 1.40% CYBR CyberArk Software Ltd Information Technology S IL USD 15,500 166.04 $2,573,620 1.36% IAS Integral Ad Science Holding Corp Communication Services S US USD 176,100 14.27 $2,512,947 1.33% FLYW Flywire Corp Financials S US USD 71,700 34.58 $2,479,386 1.31% ITT ITT Inc Industrials S US USD 23,700 102.28 $2,424,036 1.29% WSC WillScot Mobile Mini Holdings Corp, Class A Industrials S US USD 58,800 41.02 $2,411,976 1.28% WING Wingstop Inc Consumer Discretionary S US USD 14,900 160.64 $2,393,536 1.27% TTEK Tetra Tech Inc Industrials S US USD 15,200 157.35 $2,391,720 1.27% SMAR Smartsheet Inc, Class A Information Technology S US USD 54,000 41.73 $2,253,420 1.20% SMPL Simply Good Foods Co Consumer Staples S US USD 62,100 36.08 $2,240,568 1.19% PYCR Paycor HCM Inc Industrials S US USD 95,400 23.47 $2,239,038 1.19% MODG Topgolf Callaway Brands Corp Consumer Discretionary S US USD 125,700 17.44 $2,192,208 1.16% NSA National Storage Affiliates Trust Real Estate S US USD 65,100 33.60 $2,187,360 1.16% RBC RBC Bearings Inc Industrials S US USD 9,432 230.54 $2,174,453 1.15% AZEK AZEK Co Inc, Class A Industrials S US USD 62,500 34.01 $2,125,625 1.13% COHU Cohu Inc Information Technology S US USD 56,800 37.39 $2,123,752 1.13% MTSI MACOM Technology Solutions Holdings Inc Information Technology S US USD 25,000 84.56 $2,114,000 1.12% ZWS Zurn Elkay Water Solutions Corp Industrials S US USD 70,000 29.62 $2,073,400 1.10% PRA ProAssurance Corp Financials S US USD 115,000 17.68 $2,033,200 1.08% DRVN Driven Brands Holdings Inc Industrials S US USD 135,000 15.05 $2,031,750 1.08% XENE Xenon Pharmaceuticals Inc Health Care S CA USD 51,000 38.98 $1,987,980 1.05% EWCZ European Wax Center Inc, Class A Consumer Discretionary S US USD 113,018 17.36 $1,961,992 1.04% TMCI Treace Medical Concepts Inc Health Care S US USD 125,000 15.55 $1,943,750 1.03% ITCI Intra-Cellular Therapies Inc Health Care S US USD 35,000 55.52 $1,943,200 1.03% GLBE Global-e Online Ltd Consumer Discretionary S IL USD 48,900 39.63 $1,937,907 1.03% PJT PJT Partners Inc, Class A Financials S US USD 24,200 78.99 $1,911,558 1.01% AVNT Avient Corp Materials S US USD 47,000 40.11 $1,885,170 1.00% SVV Savers Value Village Inc Consumer Discretionary S US USD 75,300 24.75 $1,863,675 0.99% BOOT Boot Barn Holdings Inc Consumer Discretionary S US USD 20,000 91.75 $1,835,000 0.97% ADUS Addus Homecare Corp Health Care S US USD 20,500 87.70 $1,797,850 0.95% BMBL Bumble Inc, Class A Communication Services S US USD 107,000 16.78 $1,795,460 0.95% PTCT PTC Therapeutics Inc Health Care S US USD 45,000 39.50 $1,777,500 0.94% PLNT Planet Fitness Inc, Class A Consumer Discretionary S US USD 29,200 60.80 $1,775,360 0.94% AVDX Avidxchange Holdings Inc Financials S US USD 171,400 10.28 $1,761,992 0.93% MLTX MoonLake Immunotherapeutics, Class A Health Care S CH USD 30,500 57.57 $1,755,885 0.93% ACVA ACV Auctions Inc, Class A Industrials S US USD 104,100 16.81 $1,749,921 0.93% SAIA Saia Inc Industrials S US USD 4,100 426.20 $1,747,420 0.93% MGY Magnolia Oil & Gas Corp, Class A Energy S US USD 75,600 22.80 $1,723,680 0.91% ALGM Allegro MicroSystems Inc Information Technology S US USD 44,500 38.25 $1,702,125 0.90% MRTN Marten Transport Ltd Industrials S US USD 80,800 21.00 $1,696,800 0.90% HGV Hilton Grand Vacations Inc Consumer Discretionary S US USD 38,100 43.72 $1,665,732 0.88% IAC IAC Inc Communication Services S US USD 30,000 55.33 $1,659,900 0.88% RRX Regal Rexnord Corp Industrials S US USD 9,800 162.19 $1,589,462 0.84% SPT Sprout Social Inc, Class A Information Technology S US USD 29,500 53.54 $1,579,430 0.84% PHR Phreesia Inc Health Care S US USD 51,200 28.47 $1,457,664 0.77% QTWO Q2 Holdings Inc Information Technology S US USD 40,500 34.41 $1,393,605 0.74% NEWR New Relic Inc Information Technology S US USD 15,000 85.11 $1,276,650 0.68% DAWN Day One Biopharmaceuticals Inc Health Care S US USD 90,000 13.49 $1,214,100 0.64% MVBF MVB Financial Corp Financials S US USD 48,000 23.54 $1,129,920 0.60% KRYS Krystal Biotech Inc Health Care S US USD 8,600 124.48 $1,070,528 0.57% SWAV Shockwave Medical Inc Health Care S US USD 4,800 220.39 $1,057,872 0.56% CERT Certara Inc Health Care S US USD 49,900 16.16 $806,384 0.43% ATMU Atmus Filtration Technologies Inc Consumer Discretionary S US USD 16,000 23.05 $368,800 0.20% Cash & Equivalents Cash C US USD - - $8,333,656 4.42% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Prometheus Biosciences, Inc 1 0.17% 80.64% JFrog Ltd 2 1.27% 40.61% Onto Innovation Inc 3 1.50% 32.53% Inspire Medical Systems Inc 4 1.27% 38.69% Integral Ad Science Holding Corp 5 1.42% 26.00% IVERIC bio, Inc. 6 0.51% 55.32% ACV Auctions Inc, Class A 7 1.08% 33.77% Saia Inc 8 1.32% 25.85% AZEK Co Inc, Class A 9 1.16% 28.67% Esab Corp 10 2.62% 12.72% As of: 06/30/2023 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 WNS Holdings Ltd ADR 20 2.60% -20.88% BJ's Wholesale Club Holdings Inc 19 1.70% -17.17% Synaptics Inc 18 1.35% -23.18% Ascendis Pharma A/S ADR 17 0.99% -16.76% ProAssurance Corp 16 1.03% -18.34% Sprout Social Inc, Class A 15 0.85% -24.18% Driven Brands Holdings Inc 14 2.09% -10.72% National Storage Affiliates Trust 13 1.41% -15.70% Paycor HCM Inc 12 1.60% -10.75% Planet Fitness Inc, Class A 11 1.32% -13.17% As of: 06/30/2023 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: 06/30/2023 View Allocation Details Allocation Details TimesSquare Small Cap Growth Fund (TSCPX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell 2000® Growth Index Industrials 31.42% 20.05% Information Technology 18.15% 21.11% Health Care 14.17% 23.65% Consumer Discretionary 12.07% 10.83% Financials 8.24% 5.95% Energy 4.99% 4.49% Cash & Other 2.91% 0.00% Consumer Staples 2.71% 4.24% Communication Services 2.61% 2.13% Real Estate 1.72% 1.60% Materials 1.02% 4.33% Utilities 0.00% 1.62% As of: 06/30/2023 Investment Allocation 06/30/2023 Stocks 97.09% Bonds 0.00% Cash and Other 2.91% As of: 06/30/2023 Industry Fund Russell 2000® Growth Index Software 10.87% 9.92% Professional Services 8.08% 3.65% Commercial Services & Supplies 7.93% 1.36% Semiconductors & Semiconductor Equipment 7.28% 4.74% Machinery 5.08% 4.86% Capital Markets 5.02% 2.07% Health Care Equipment & Supplies 4.98% 5.14% Biotechnology 3.43% 10.05% Hotels, Restaurants & Leisure 3.34% 3.83% Oil, Gas & Consumable Fuels 3.24% 1.95% % in Top 10 Industries 59.25% 47.57% As of: 06/30/2023 Read Important Investment Disclosures 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. Keep Calm and Remain Diversified A short- and long-term review on the power of diversification. Read More The Boutique Advantage Amid Volatility Staying invested despite short-term market swings requires emotional fortitude. Positioning your portfolio to weather ups and downs can help. The essential ingredient? Managers who excel despite challenging market conditions. Read Blog 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 TMDPX TimesSquare Mid Cap Growth Fund Seeks to provide long-term capital appreciation by investing primarily in mid 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