Fund Overview Fund Overview Share Class I N I Z NAV | as of 12/06/2022 $11.29 -$0.22 (-1.91%) Morningstar | Style Box V B G L M S Overall Morningstar Rating Rated against 574 Small Growth funds as of 11/30/2022 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 02/24/2017 to 11/30/2022 = $16,092.71 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. 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 2021 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 11/30/2022 Overall Rating (of 574) 3 Years (of 574) 5 Years (of 529) 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 800.835.3879. 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: 1.07% Net Expense Ratio: 1.07% 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, 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 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. 1.47 2.11 - 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. 26.43 23.92 - 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. 0.17 0.24 - 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. 107.01 109.73 - 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. 100.41 99.35 - 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. 1.00 0.99 - 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. 95.90 95.40 - 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. 5.35 5.13 - View All Characteristics & Stats All Characteristics & Stats 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.$) $248 Number of Holdings 86 1,121 Weighted Avg. Market Cap (Mil.$) $3,755 $3,017 Median Market Cap (Mil.$) $3,196 $1,134 Weighted Avg. P/E (1-yr Forward EPS) 17.65 13.33 Weighted Avg. P/E (Trailing EPS) 20.52 15.19 PEG Ratio 0.87 0.92 Weighted Avg. P/B 3.07 3.43 EPS Growth (Trailing 3-yr %) 21.61% 18.23% EPS Growth (Trailing 5-yr %) 18.80% 17.20% Forward EPS Growth (1-yr %) 11.17% 7.92% Forward EPS Growth (Long Term %) 15.71% 15.23% Revenue Growth (Trailing 5-yr %) 15.45% 13.11% Return on Equity 3.24% 3.74% Weighted Avg. Dividend Yield 0.39% 0.67% Debt to Equity 74.68 84.50 Trailing 12-Months Portfolio Turnover 57.12% 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. 1.47 2.11 - 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. 26.43 23.92 - 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. 0.17 0.24 - 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. 107.01 109.73 - 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. 100.41 99.35 - 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. 1.00 0.99 - 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. 95.90 95.40 - 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. 5.35 5.13 - Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. 0.25 0.40 - Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. 4.38 5.80 - 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: 11/30/2022 Market Cap Fund Russell 2000® Growth Index Market Cap ($mm) 0 - 1,000 9.38% 12.87% Market Cap ($mm) 1,000 - 1,500 5.18% 10.33% Market Cap ($mm) 1,500 - 2,500 17.90% 26.09% Market Cap ($mm) 2,500 - 5,000 45.71% 38.82% Market Cap ($mm) 5,000 - 10,000 21.84% 11.25% Market Cap ($mm) 10,000 - 25,000 0.00% 0.53% Market Cap ($mm) 25,000 - 50,000 0.00% 0.12% Market Cap ($mm) 50,000 - 100,000 0.00% 0.00% Market Cap ($mm) 100,000 - 200,000 0.00% 0.00% Market Cap ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.00% As of: 09/30/2022 Valuation Characteristics Fund Russell 2000® Growth Index P/E 0-10 6.27% 11.90% P/E 10-15 6.61% 10.67% P/E 15-20 10.62% 10.49% P/E 20-25 5.57% 6.10% P/E 25-Above 39.15% 29.80% P/E – NA 31.77% 31.04% As of: 09/30/2022 Growth Characteristics Fund Russell 2000® Growth Index EPS Growth (Trailing 3-yr %) - Negative 12.73% 14.43% EPS Growth (Trailing 3-yr %) 0 - 5 2.83% 4.23% EPS Growth (Trailing 3-yr %) 5 - 10 5.32% 2.53% EPS Growth (Trailing 3-yr %) 10 - 15 3.16% 4.34% EPS Growth (Trailing 3-yr %) 15 - 20 3.55% 4.26% EPS Growth (Trailing 3-yr %) Above 20 33.39% 30.44% EPS Growth (Trailing 3-yr %) - NA 39.01% 39.78% As of: 09/30/2022 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 09/30/2022 WNS Holdings Ltd ADR 2.40% EMCOR Group Inc 2.35% Matador Resources Co, Class A 2.14% Paycor HCM Inc 2.12% ExlService Holdings Inc 2.03% BJ's Wholesale Club Holdings Inc 2.00% Casella Waste Systems Inc, Class A 1.97% Driven Brands Holdings Inc 1.90% HealthEquity Inc 1.81% Hamilton Lane Inc, Class A 1.76% % in Top 10 Holdings 20.48% View Holding Details Holding Details TimesSquare Small Cap Growth Fund (TSQIX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 09/30/2022 WNS Holdings Ltd ADR 2.40% EMCOR Group Inc 2.35% Matador Resources Co, Class A 2.14% Paycor HCM Inc 2.12% ExlService Holdings Inc 2.03% BJ's Wholesale Club Holdings Inc 2.00% Casella Waste Systems Inc, Class A 1.97% Driven Brands Holdings Inc 1.90% HealthEquity Inc 1.81% Hamilton Lane Inc, Class A 1.76% % in Top 10 Holdings 20.48% As of: 09/30/2022 Download All Holdings (PDF) As of: 10/31/2022 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund WNS WNS Holdings Ltd ADR Information Technology S IN USD 73,900 86.08 $6,361,312 2.41% EXLS ExlService Holdings Inc Information Technology S US USD 34,100 181.85 $6,201,085 2.35% MTDR Matador Resources Co, Class A Energy S US USD 91,000 66.45 $6,046,950 2.29% DRVN Driven Brands Holdings Inc Industrials S US USD 181,100 31.98 $5,791,578 2.20% HQY HealthEquity Inc Health Care S US USD 73,500 77.91 $5,726,385 2.17% CWST Casella Waste Systems Inc, Class A Industrials S US USD 69,900 81.81 $5,718,519 2.17% PYCR Paycor HCM Inc Information Technology S US USD 185,300 30.47 $5,646,091 2.14% EME EMCOR Group Inc Industrials S US USD 36,500 141.10 $5,150,150 1.95% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 66,000 77.40 $5,108,400 1.94% SMPL Simply Good Foods Co Consumer Staples S US USD 129,500 38.30 $4,959,850 1.88% EYE National Vision Holdings Inc Consumer Discretionary S US USD 129,000 37.04 $4,778,160 1.81% VCTR Victory Capital Holdings Inc, Class A Financials S US USD 155,000 28.92 $4,482,600 1.70% ESAB Esab Corp Industrials S US USD 119,900 37.30 $4,472,270 1.70% PWSC PowerSchool Holdings Inc, Class A Information Technology S US USD 219,900 20.00 $4,398,000 1.67% HLNE Hamilton Lane Inc, Class A Financials S US USD 72,000 59.82 $4,307,040 1.63% ITT ITT Inc Industrials S US USD 56,000 76.39 $4,277,840 1.62% GTLS Chart Industries Inc Industrials S US USD 18,600 222.88 $4,145,568 1.57% ZWS Zurn Elkay Water Solutions Corp Industrials S US USD 165,400 23.49 $3,885,246 1.47% WHD Cactus Inc, Class A Energy S US USD 74,000 51.72 $3,827,280 1.45% HGV Hilton Grand Vacations Inc Consumer Discretionary S US USD 97,500 39.24 $3,825,900 1.45% HXL Hexcel Corp Industrials S US USD 68,600 55.70 $3,821,020 1.45% SILK Silk Road Medical Inc Health Care S US USD 86,500 44.08 $3,812,920 1.45% BTRS BTRS Holdings Inc, Class 1 Information Technology S US USD 390,000 9.44 $3,681,600 1.40% ASND Ascendis Pharma A/S ADR Health Care S DK USD 31,800 115.00 $3,657,000 1.39% INSP Inspire Medical Systems Inc Health Care S US USD 18,000 194.95 $3,509,100 1.33% ATRC AtriCure Inc Health Care S US USD 83,200 42.12 $3,504,384 1.33% ONTO Onto Innovation Inc Information Technology S US USD 52,000 66.84 $3,475,680 1.32% NSA National Storage Affiliates Trust Real Estate S US USD 80,500 42.66 $3,434,130 1.30% FOCS Focus Financial Partners Inc, Class A Financials S US USD 97,900 34.79 $3,405,941 1.29% PLNT Planet Fitness Inc, Class A Consumer Discretionary S US USD 52,000 65.48 $3,404,960 1.29% WK Workiva Inc, Class A Information Technology S US USD 43,500 77.81 $3,384,735 1.28% ITCI Intra-Cellular Therapies Inc Health Care S US USD 73,700 45.67 $3,365,879 1.28% MTSI MACOM Technology Solutions Holdings Inc Information Technology S US USD 57,000 57.87 $3,298,590 1.25% AZEK AZEK Co Inc, Class A Industrials S US USD 180,900 17.51 $3,167,559 1.20% EXPO Exponent Inc Industrials S US USD 33,000 95.26 $3,143,580 1.19% EVOP Evo Payments Inc, Class A Information Technology S US USD 90,000 33.69 $3,032,100 1.15% ALGM Allegro MicroSystems Inc Information Technology S US USD 117,800 25.41 $2,993,298 1.13% LESL Leslie's Inc Consumer Discretionary S US USD 213,000 14.04 $2,990,520 1.13% VERX Vertex Inc, Class A Information Technology S US USD 165,000 18.02 $2,973,300 1.13% FROG JFrog Ltd Information Technology S IL USD 117,000 25.40 $2,971,800 1.13% TTEK Tetra Tech Inc Industrials S US USD 21,000 141.28 $2,966,880 1.12% NEWR New Relic Inc Information Technology S US USD 50,000 59.24 $2,962,000 1.12% WING Wingstop Inc Consumer Discretionary S US USD 17,500 158.39 $2,771,825 1.05% TARS Tarsus Pharmaceuticals Inc Health Care S US USD 150,050 18.42 $2,763,921 1.05% SPT Sprout Social Inc, Class A Information Technology S US USD 45,500 60.33 $2,745,015 1.04% VC Visteon Corp Consumer Discretionary S US USD 21,000 130.47 $2,739,870 1.04% SAIA Saia Inc Industrials S US USD 13,600 198.86 $2,704,496 1.03% RBC RBC Bearings Inc Industrials S US USD 10,500 253.53 $2,662,065 1.01% BOOT Boot Barn Holdings Inc Consumer Discretionary S US USD 46,000 56.80 $2,612,800 0.99% MODG Topgolf Callaway Brands Corp Consumer Discretionary S US USD 138,000 18.72 $2,583,360 0.98% TNDM Tandem Diabetes Care Inc Health Care S US USD 45,900 56.15 $2,577,285 0.98% KW Kennedy-Wilson Holdings Inc Real Estate S US USD 155,000 16.61 $2,574,550 0.98% TMCI Treace Medical Concepts Inc Health Care S US USD 102,000 24.48 $2,496,960 0.95% SYNA Synaptics Inc Information Technology S US USD 27,600 88.60 $2,445,360 0.93% SMAR Smartsheet Inc, Class A Information Technology S US USD 70,000 34.92 $2,444,400 0.93% STAA STAAR Surgical Co Health Care S US USD 33,500 70.87 $2,374,145 0.90% PRA ProAssurance Corp Financials S US USD 106,100 22.21 $2,356,481 0.89% RRX Regal Rexnord Corp Industrials S US USD 18,400 126.54 $2,328,336 0.88% PHR Phreesia Inc Health Care S US USD 84,000 27.32 $2,294,880 0.87% ASGN ASGN Inc Industrials S US USD 27,000 84.78 $2,289,060 0.87% WSC WillScot Mobile Mini Holdings Corp, Class A Industrials S US USD 53,000 42.53 $2,254,090 0.85% MVBF MVB Financial Corp Financials S US USD 89,140 24.76 $2,207,106 0.84% PTCT PTC Therapeutics Inc Health Care S US USD 57,000 37.82 $2,155,740 0.82% IAS Integral Ad Science Holding Corp Communication Services S US USD 255,700 8.42 $2,152,994 0.82% SM SM Energy Co Energy S US USD 45,900 44.98 $2,064,582 0.78% GLBE Global-e Online Ltd Consumer Discretionary S IL USD 76,500 25.29 $1,934,685 0.73% ADUS Addus Homecare Corp Health Care S US USD 18,700 102.42 $1,915,254 0.73% SNCY Sun Country Airlines Holdings Inc Industrials S US USD 117,000 16.28 $1,904,760 0.72% AZTA Azenta Inc Health Care S US USD 42,000 44.40 $1,864,800 0.71% LASR nLight Inc Information Technology S US USD 172,300 10.77 $1,855,671 0.70% SWAV Shockwave Medical Inc Health Care S US USD 6,200 293.15 $1,817,530 0.69% HSKA Heska Corp Health Care S US USD 24,000 71.76 $1,722,240 0.65% QTWO Q2 Holdings Inc Information Technology S US USD 55,000 31.04 $1,707,200 0.65% ACVA ACV Auctions Inc, Class A Industrials S US USD 168,000 9.12 $1,532,160 0.58% MYTE MYT Netherlands Parent BV ADR Consumer Discretionary S DE USD 123,800 11.43 $1,415,034 0.54% MBUU Malibu Boats Inc, Class A Consumer Discretionary S US USD 26,000 52.90 $1,375,400 0.52% CMCO Columbus McKinnon Corp Industrials S US USD 47,000 28.52 $1,340,440 0.51% BLFS BioLife Solutions Inc Health Care S US USD 54,700 23.52 $1,286,544 0.49% SI Silvergate Capital Corp, Class A Financials S US USD 21,300 56.76 $1,208,988 0.46% ACLX Arcellx Inc Health Care S US USD 37,200 23.48 $873,456 0.33% LUNG Pulmonx Corp Health Care S US USD 55,600 13.36 $742,816 0.28% CERT Certara Inc Health Care S US USD 53,000 12.23 $648,190 0.25% XENE Xenon Pharmaceuticals Inc Health Care S CA USD 17,300 36.57 $632,661 0.24% COCO Vita Coco Co Inc Consumer Staples S US USD 44,200 10.26 $453,492 0.17% ISEE IVERIC bio Inc Health Care S US USD 13,300 23.92 $318,136 0.12% Cash & Equivalents Cash C US USD - - $8,609,299 3.26% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return BTRS Holdings Inc, Class 1 1 1.15% 85.94% Evo Payments Inc, Class A 2 1.47% 41.58% Shockwave Medical Inc 3 1.36% 45.46% Silvergate Capital Corp, Class A 4 0.73% 40.76% BJ's Wholesale Club Holdings Inc 5 2.15% 16.83% Wingstop Inc 6 0.66% 67.91% PowerSchool Holdings Inc, Class A 7 1.21% 38.51% RBC Bearings Inc 8 1.36% 12.36% Treace Medical Concepts Inc 9 0.73% 53.91% EMCOR Group Inc 10 2.40% 12.26% 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. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Azenta Inc 20 0.94% -40.55% Esab Corp 19 1.26% -23.67% Simply Good Foods Co 18 1.55% -15.30% National Storage Affiliates Trust 17 1.29% -16.29% Integral Ad Science Holding Corp 16 0.80% -27.09% Hamilton Lane Inc, Class A 15 1.85% -10.92% Sun Country Airlines Holdings Inc 14 0.77% -25.79% Intra-Cellular Therapies Inc 13 1.15% -18.48% Onto Innovation Inc 12 1.45% -8.16% Heska Corp 11 0.29% -21.89% 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 Sector Allocation (Equity) As of: 09/30/2022 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 23.53% 17.14% Information Technology 23.22% 19.49% Health Care 19.29% 25.30% Consumer Discretionary 12.72% 10.79% Financials 6.97% 5.98% Energy 4.19% 6.51% Consumer Staples 4.07% 4.20% Cash & Other 2.94% 0.00% Real Estate 2.32% 2.15% Communication Services 0.75% 2.42% Materials 0.00% 4.26% Utilities 0.00% 1.77% As of: 09/30/2022 Investment Allocation 09/30/2022 Stocks 97.06% Bonds 0.00% Cash and Other 2.94% As of: 09/30/2022 Industry Fund Russell 2000® Growth Index Software 11.25% 7.84% Health Care Equipment & Supplies 9.87% 7.12% IT Services 6.06% 3.30% Commercial Services & Supplies 5.45% 1.16% Semiconductors & Semiconductor Equipment 5.25% 4.01% Machinery 5.02% 4.01% Specialty Retail 4.79% 1.71% Capital Markets 4.50% 2.06% Construction & Engineering 3.23% 2.03% Hotels, Restaurants & Leisure 3.19% 3.12% % in Top 10 Industries 58.61% 36.36% As of: 09/30/2022 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 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 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