Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class I N I Z NAV | as of 03/27/2024 $12.65 +$0.18 (+1.44%) Morningstar | Style Box V B G L M S Growth of $10,000 (Hypothetical) Since Inception 02/24/2017 to 02/29/2024 = $18,234.31 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 02/29/2024 Overall Rating (of 559) 3 Years (of 559) 5 Years (of 527) 10 Years — 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: 1.08% Net Expense Ratio: 1.07% 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 From: To: Risk & Return Statistics As of: 02/29/2024 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. 0.52 -0.08 - 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. 21.26 23.73 - 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. -0.30 0.17 - 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. 96.61 94.39 - 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. 97.31 99.04 - 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. 0.94 0.97 - 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. 94.64 95.44 - 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. 5.12 5.11 - View All Characteristics & Statistics All Characteristics & Statistics TimesSquare Small Cap Growth Fund (TSQIX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell 2000® Growth Index Fund Assets (Mil.$) $165 Number of Holdings 79 1,074 Weighted Avg. Market Cap (Mil.$) $4,843 $3,865 Median Market Cap (Mil.$) $3,834 $1,277 Weighted Avg. P/E (1-yr Forward EPS) 27.21 20.00 Weighted Avg. P/E (Trailing EPS) 28.08 22.82 PEG Ratio 1.81 1.18 Weighted Avg. P/B 3.40 3.98 EPS Growth (Trailing 3-yr %) 18.07% 18.25% EPS Growth (Trailing 5-yr %) 18.65% 18.76% Forward EPS Growth (1-yr %) -6.29% 3.34% Forward EPS Growth (Long Term %) 14.90% 15.29% Revenue Growth (Trailing 5-yr %) 14.42% 13.62% Return on Equity 2.44% 5.79% Weighted Avg. Dividend Yield 0.47% 0.59% Debt to Equity 59.33 76.63 Trailing 12-Months Portfolio Turnover 63.33% As of: 12/31/2023 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. 0.52 -0.08 - 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. 21.26 23.73 - 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. -0.30 0.17 - 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. 96.61 94.39 - 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. 97.31 99.04 - 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. 0.94 0.97 - 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. 94.64 95.44 - 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. 5.12 5.11 - 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. 0.16 -0.07 - 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. -6.77 4.25 - 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. -34.03 -34.03 - As of: 02/29/2024 Market Cap Fund Russell 2000® Growth Index Market Cap ($mm) 0 - 1,000 3.84% 9.39% Market Cap ($mm) 1,000 - 1,500 3.30% 7.59% Market Cap ($mm) 1,500 - 2,500 17.77% 16.34% Market Cap ($mm) 2,500 - 5,000 38.02% 42.50% Market Cap ($mm) 5,000 - 10,000 33.15% 23.09% Market Cap ($mm) 10,000 - 25,000 3.91% 1.07% Market Cap ($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 ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.02% As of: 12/31/2023 Valuation Characteristics Fund Russell 2000® Growth Index P/E 0-10 2.72% 4.12% P/E 10-15 2.48% 7.23% P/E 15-20 8.24% 9.69% P/E 20-25 5.71% 10.40% P/E 25-Above 41.70% 40.27% P/E – NA 39.15% 28.29% As of: 12/31/2023 Growth Characteristics Fund Russell 2000® Growth Index EPS Growth (Trailing 3-yr %) - Negative 11.01% 12.14% EPS Growth (Trailing 3-yr %) 0 - 5 0.83% 2.92% EPS Growth (Trailing 3-yr %) 5 - 10 10.59% 5.26% EPS Growth (Trailing 3-yr %) 10 - 15 4.89% 4.33% EPS Growth (Trailing 3-yr %) 15 - 20 5.39% 3.31% EPS Growth (Trailing 3-yr %) Above 20 18.53% 30.65% EPS Growth (Trailing 3-yr %) - NA 48.75% 41.40% As of: 12/31/2023 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 12/31/2023 Casella Waste Systems Inc, Class A 3.03% JFrog Ltd 2.32% Hexcel Corp 2.07% PowerSchool Holdings Inc, Class A 2.05% Synaptics Inc 1.97% Esab Corp 1.92% BJ's Wholesale Club Holdings Inc 1.89% CyberArk Software Ltd 1.85% Smartsheet Inc, Class A 1.85% Vertex Inc, Class A 1.82% % in Top 10 Holdings 20.78% View Holding Details Holding Details TimesSquare Small Cap Growth Fund (TSQIX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 12/31/2023 Casella Waste Systems Inc, Class A 3.03% JFrog Ltd 2.32% Hexcel Corp 2.07% PowerSchool Holdings Inc, Class A 2.05% Synaptics Inc 1.97% Esab Corp 1.92% BJ's Wholesale Club Holdings Inc 1.89% CyberArk Software Ltd 1.85% Smartsheet Inc, Class A 1.85% Vertex Inc, Class A 1.82% % in Top 10 Holdings 20.78% As of: 12/31/2023 Download All Holdings (PDF) As of: 02/29/2024 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund FROG JFrog Ltd Information Technology S IL USD 110,000 44.79 $4,926,900 2.91% CWST Casella Waste Systems Inc, Class A Industrials S US USD 49,215 90.10 $4,434,272 2.62% RRX Regal Rexnord Corp Industrials S US USD 23,000 171.49 $3,944,270 2.33% CYBR CyberArk Software Ltd Information Technology S IL USD 14,700 263.76 $3,877,272 2.29% VERX Vertex Inc, Class A Information Technology S US USD 114,700 33.58 $3,851,626 2.28% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 44,000 73.04 $3,213,760 1.90% EME EMCOR Group Inc Industrials S US USD 9,800 313.52 $3,072,496 1.82% IWO iShares Russell 2000 Growth ETF Other Equities S US USD 11,300 263.99 $2,983,087 1.76% HXL Hexcel Corp Industrials S US USD 39,400 74.46 $2,933,724 1.74% HLNE Hamilton Lane Inc, Class A Financials S US USD 25,500 114.85 $2,928,675 1.73% MTDR Matador Resources Co, Class A Energy S US USD 46,000 63.15 $2,904,900 1.72% SYNA Synaptics Inc Information Technology S US USD 28,500 100.10 $2,852,850 1.69% TTEK Tetra Tech Inc Industrials S US USD 16,000 177.32 $2,837,120 1.68% ESAB Esab Corp Industrials S US USD 28,100 99.12 $2,785,272 1.65% SMAR Smartsheet Inc, Class A Information Technology S US USD 65,500 42.21 $2,764,755 1.64% XENE Xenon Pharmaceuticals Inc Health Care S CA USD 58,500 47.20 $2,761,200 1.63% ASND Ascendis Pharma A/S ADR Health Care S DK USD 18,583 147.76 $2,745,824 1.62% SWAV Shockwave Medical Inc Health Care S US USD 10,200 260.87 $2,660,874 1.57% VCTR Victory Capital Holdings Inc, Class A Financials S US USD 68,400 38.43 $2,628,612 1.55% KLIC Kulicke & Soffa Industries Inc Information Technology S SG USD 54,100 47.62 $2,576,242 1.52% PWSC PowerSchool Holdings Inc, Class A Information Technology S US USD 119,210 20.89 $2,490,297 1.47% AZEK AZEK Co Inc, Class A Industrials S US USD 51,405 48.11 $2,473,095 1.46% ITCI Intra-Cellular Therapies Inc Health Care S US USD 35,000 69.52 $2,433,200 1.44% WK Workiva Inc, Class A Information Technology S US USD 28,200 86.12 $2,428,584 1.44% NSA National Storage Affiliates Trust Real Estate S US USD 67,500 35.81 $2,417,175 1.43% ACVA ACV Auctions Inc, Class A Industrials S US USD 133,120 17.75 $2,362,880 1.40% ATRC AtriCure Inc Health Care S US USD 67,100 34.97 $2,346,487 1.39% ONTO Onto Innovation Inc Information Technology S US USD 12,700 184.16 $2,338,832 1.38% CWAN Clearwater Analytics Holdings Inc, Class A Information Technology S US USD 134,200 17.22 $2,310,924 1.37% DAWN Day One Biopharmaceuticals Inc Health Care S US USD 137,900 16.73 $2,307,067 1.36% WHD Cactus Inc, Class A Energy S US USD 50,000 45.90 $2,295,000 1.36% ADUS Addus Homecare Corp Health Care S US USD 24,000 92.28 $2,214,720 1.31% SAFT Safety Insurance Group Inc Financials S US USD 26,600 82.16 $2,185,456 1.29% AVDX Avidxchange Holdings Inc Financials S US USD 164,000 13.29 $2,179,560 1.29% FORM FormFactor Inc Information Technology S US USD 49,900 43.03 $2,147,197 1.27% IAS Integral Ad Science Holding Corp Communication Services S US USD 207,200 10.36 $2,146,592 1.27% GLBE Global-e Online Ltd Consumer Discretionary S IL USD 62,800 33.87 $2,127,036 1.26% COHU Cohu Inc Information Technology S US USD 62,600 32.13 $2,011,338 1.19% WSC WillScot Mobile Mini Holdings Corp, Class A Industrials S US USD 42,000 47.75 $2,005,500 1.19% MTSI MACOM Technology Solutions Holdings Inc Information Technology S US USD 21,600 88.33 $1,907,928 1.13% FIX Comfort Systems USA Inc Industrials S US USD 6,000 305.73 $1,834,380 1.09% MRTN Marten Transport Ltd Industrials S US USD 96,100 18.85 $1,811,485 1.07% AVNT Avient Corp Materials S US USD 44,600 40.48 $1,805,408 1.07% IAC IAC Inc Communication Services S US USD 31,500 56.80 $1,789,200 1.06% PJT PJT Partners Inc, Class A Financials S US USD 16,500 105.40 $1,739,100 1.03% BOOT Boot Barn Holdings Inc Consumer Discretionary S US USD 18,600 92.50 $1,720,500 1.02% QTWO Q2 Holdings Inc Information Technology S US USD 37,000 46.23 $1,710,510 1.01% MGY Magnolia Oil & Gas Corp, Class A Energy S US USD 75,300 22.68 $1,707,804 1.01% CRDO Credo Technology Group Holding Ltd Information Technology S US USD 77,300 21.54 $1,665,042 0.98% HQY HealthEquity Inc Health Care S US USD 20,000 82.61 $1,652,200 0.98% WNS WNS Holdings Ltd ADR Industrials S IN USD 28,100 57.70 $1,621,370 0.96% MVBF MVB Financial Corp Financials S US USD 73,200 21.41 $1,567,212 0.93% ICFI ICF International Inc Industrials S US USD 10,100 154.85 $1,563,985 0.93% EXPO Exponent Inc Industrials S US USD 19,300 80.89 $1,561,177 0.92% PHR Phreesia Inc Health Care S US USD 62,500 24.75 $1,546,875 0.91% HCP HashiCorp Inc, Class A Information Technology S US USD 58,900 26.07 $1,535,523 0.91% FRPT Freshpet Inc Consumer Staples S US USD 13,500 113.03 $1,525,905 0.90% RBC RBC Bearings Inc Industrials S US USD 5,500 272.83 $1,500,565 0.89% DRVN Driven Brands Holdings Inc Industrials S US USD 108,000 13.79 $1,489,320 0.88% PI Impinj Inc Information Technology S US USD 13,600 109.22 $1,485,392 0.88% MODG Topgolf Callaway Brands Corp Consumer Discretionary S US USD 97,400 14.24 $1,386,976 0.82% PYCR Paycor HCM Inc Industrials S US USD 62,400 21.12 $1,317,888 0.78% TMCI Treace Medical Concepts Inc Health Care S US USD 97,800 13.44 $1,314,432 0.78% ITT ITT Inc Industrials S US USD 10,400 126.14 $1,311,856 0.78% WRBY Warby Parker Inc, Class A Consumer Discretionary S US USD 101,800 12.71 $1,293,878 0.77% AIT Applied Industrial Technologies Inc Industrials S US USD 6,800 189.89 $1,291,252 0.76% SVV Savers Value Village Inc Consumer Discretionary S US USD 62,000 20.24 $1,254,880 0.74% SPT Sprout Social Inc, Class A Information Technology S US USD 20,200 61.82 $1,248,764 0.74% BMBL Bumble Inc, Class A Communication Services S US USD 107,500 11.45 $1,230,875 0.73% KRYS Krystal Biotech Inc Health Care S US USD 7,500 159.47 $1,196,025 0.71% EWCZ European Wax Center Inc, Class A Consumer Discretionary S US USD 80,518 14.18 $1,141,745 0.68% MLTX MoonLake Immunotherapeutics, Class A Health Care S CH USD 23,200 48.24 $1,119,168 0.66% PRA ProAssurance Corp Financials S US USD 86,700 12.33 $1,069,011 0.63% BTSG Brightspring Health Services Inc Health Care S US USD 112,415 8.99 $1,010,611 0.60% MAX MediaAlpha Inc, Class A Communication Services S US USD 42,655 20.75 $885,091 0.52% ALGM Allegro MicroSystems Inc Information Technology S US USD 26,000 31.49 $818,740 0.48% CERT Certara Inc Health Care S US USD 43,500 16.88 $734,280 0.43% ROAD Construction Partners Inc, Class A Industrials S US USD 6,530 48.08 $313,962 0.19% OLLI Ollie's Bargain Outlet Holdings Inc Consumer Discretionary S US USD 2,100 80.17 $168,357 0.10% ASGN ASGN Inc Industrials S US USD 135 99.32 $13,408 0.01% Cash & Equivalents Cash C US USD - - $7,292,421 4.31% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return JFrog Ltd 1 1.96% 36.47% Wingstop Inc 2 1.41% 42.77% CyberArk Software Ltd 3 1.76% 33.75% Ascendis Pharma A/S ADR 4 1.61% 34.50% Esab Corp 5 1.89% 23.41% Synaptics Inc 6 1.90% 27.55% Hamilton Lane Inc, Class A 7 1.93% 25.79% Intra-Cellular Therapies Inc 8 1.30% 37.49% National Storage Affiliates Trust 9 1.44% 31.93% Casella Waste Systems Inc, Class A 10 3.52% 12.01% As of: 12/31/2023 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 ProAssurance Corp 20 1.06% -27.00% Flywire Corp 19 0.86% -27.41% AtriCure Inc 18 1.71% -18.52% WNS Holdings Ltd ADR 17 1.93% -7.68% Visteon Corp 16 1.46% -9.54% Expro Group Holdings N.V. 15 0.19% -31.55% Cactus Inc, Class A 14 1.86% -9.40% European Wax Center Inc, Class A 13 0.97% -16.11% HealthEquity Inc 12 1.48% -9.24% Allegro MicroSystems Inc 11 0.66% -5.23% As of: 12/31/2023 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: 12/31/2023 View Allocation Details Allocation Details TimesSquare Small Cap Growth Fund (TSQIX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell 2000® Growth Index Industrials 25.96% 20.04% Information Technology 24.45% 21.67% Health Care 16.80% 22.37% Consumer Discretionary 8.33% 11.08% Financials 7.96% 6.35% Energy 4.44% 4.47% Communication Services 3.59% 2.17% Consumer Staples 2.81% 4.50% Other Equities 1.75% Real Estate 1.61% 1.68% Cash & Other 1.28% 0.00% Materials 1.02% 4.15% Utilities 0.00% 1.53% As of: 12/31/2023 Investment Allocation 12/31/2023 Stocks 98.72% Bonds 0.00% Cash and Other 1.28% As of: 12/31/2023 Industry Fund Russell 2000® Growth Index Software 15.83% 10.96% Semiconductors & Semiconductor Equipment 8.62% 4.47% Biotechnology 7.86% 10.35% Commercial Services & Supplies 6.49% 1.36% Professional Services 5.05% 3.80% Capital Markets 4.17% 2.02% Machinery 3.95% 4.64% Health Care Equipment & Supplies 3.82% 4.21% Construction & Engineering 3.45% 2.42% Oil, Gas & Consumable Fuels 2.68% 1.67% % in Top 10 Industries 61.92% 45.9% As of: 12/31/2023 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 TQENX TimesSquare Emerging Markets Small Cap Fund View Fund Details TSYNX TimesSquare Global Small Cap Fund View Fund Details 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