TimesSquare Capital Management
AMG TimesSquare Small Cap Growth Fund
Sep 2026 → Sep 2026
Our archive holds 1 letter from this strategy, behind 5 investment theses and positions in 9 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of TimesSquare Capital Management for every strategy.
Performance
as of Sep 30, 2026 · net of fees · USD · Class Z (TSCIX)
- YTD+6.3%index +10.7%
- 1Y+10.5%index +12.1%
- 3Y · /yr+12.8%index +17.6%
- 5Y · /yr+3.0%index +4.7%
- 10Y · /yr+9.6%index +9.9%
- Inception · /yr+8.8%index +6.0%
Index: Russell 2000 Growth
| YTD | 1Y | 3Yper year | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|---|---|
| AMG TimesSquare Small Cap Growth Fund | +6.3% | +10.5% | +12.8% | +3.0% | +9.6% | +8.8% |
| Russell 2000 Growth | +10.7% | +12.1% | +17.6% | +4.7% | +9.9% | +6.0% |
Since inception: Since Inception (01/21/2000)
Disclaimer
These figures are copied from the manager’s latest letter, as of Sep 30, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
As its market capitalization outgrew our small cap range, we completed the exit we began last quarter.
However, we trimmed the position into strength because we felt much of the good news was reflected in the prevailing valuation.
We initiated the position with the view that the company is at an inflection point moving from a mature-stage content-collaboration vendor to a faster growing platform.
We viewed the price reaction as extreme, especially because MIRM’s commercial business continues to grow and this should be a temporary delay, so we added to our position.
We initiated the position given the bank's above- average return on tangible common equity and efficient expense base, together with a low bar of expectations for regional banks as a group.
We added to the position early in the quarter, encouraged by strong new-customer demand and an upgraded sales team expected to reach full productivity soon.
After trimming ahead of its earnings report on concern that expectations had become elevated, we sold the remaining small position.
Also held
Its investment theses
- Repligen CorporationSep 2026Repligen Corporation supplies critical bioprocessing inputs and is benefiting from strong growth, improved demand, and a strategically attractive acquisition.
- Victory CapitalSep 2026Victory Capital is a boutique asset manager supported by strong inflows and a positive acquisition, though valuation has become fuller.
- Regal RexnordSep 2026Regal Rexnord makes motion control and climate solutions components, with order growth and an attractive valuation offsetting near-term margin pressure.
- Mirum PharmaceuticalsSep 2026Mirum Pharmaceuticals develops liver disease therapies and retains a compelling opportunity despite a regulatory delay because its commercial business is still growing.
- Box, Inc.Sep 2026Box, Inc. is evolving into an enterprise AI content platform with a credible path to higher growth and margins.