TimesSquare Capital Management
TimesSquare U.S. Mid Cap Growth Strategy
US Mid-cap Growth
Mar 2026 → Sep 2026
Our archive holds 3 letters from this strategy, behind 4 investment theses and positions in 47 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in a year · follow all of TimesSquare Capital Management for every strategy.
Performance
as of Sep 30, 2026 · net of fees · USD
- YTD+2.9%index +1.0%
- 1Y−1.9%index −2.7%
- 3Y · /yr+12.3%index +15.3%
- 5Y · /yr+5.0%index +4.9%
- 10Y · /yr+11.8%index +11.8%
- Inception · /yr+9.1%index +7.1%
Index: Russell Mid Cap® Growth
| YTD | 1Y | 3Yper year | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|---|---|
| TimesSquare U.S. Mid Cap Growth Strategy | +2.9% | −1.9% | +12.3% | +5.0% | +11.8% | +9.1% |
| Russell Mid Cap® Growth | +1.0% | −2.7% | +15.3% | +4.9% | +11.8% | +7.1% |
Since inception: Since Inception (10/01/2000)
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
We trimmed our position on the strength of the price move.
We exited the position after two partnered late-stage (Phase 3) programs failed this summer, removing important opportunities underpinning our thesis.
As CRDO’s market capitalization grew, we began initiating a mid cap position in this stock we’ve owned in our small cap strategy for years.
We initiated the position when indiscriminate selling in semiconductor and optical stocks pressured its share price.
We exited the position and used the proceeds to establish a new position in RBC Bearings, a designer and manufacturer of precision bearings and engineered components for the industrial, aerospace, and defense end markets.
We trimmed back the position on strength.
We trimmed back the position on strength.
We continued to build our position in Ionis Pharmaceuticals Inc., a commercial-stage biotechnology company focused on neurology and cardiovascular indications.
We meaningfully increased the position size in April and May on stock weakness as our due diligence bolstered our conviction in Snowflake’s position as the center of data gravity.
We have started to scale back the position.
We decided to exit the position due to lackluster booking performance despite significant additions to the sales force.
We exited the position due to the combination of potential AI disruption and the seat-based model's potential challenges.
We added to the position on weakness.
We exited our position following slower-than-expected fourth-quarter results and cautious guidance, attributed to advertising pullbacks by retailers impacted by tariffs.
We added to the position.
We had trimmed back the position prior to Q4 earnings.
We decided to exit this small position on the 35% improvement in its stock price.
We have scaled back the position size.
With investments front-end loaded, DoorDash is positioned for a second-half margin expansion, and that is why we added to the position.
Also held
Its investment theses
- Dynatrace, Inc.Sep 2026Dynatrace provides observability software and is seeing accelerating growth, strong customer wins, and AI capabilities boosted by the Arize acquisition.
- MKS Inc.Sep 2026MKS manufactures semiconductor capital equipment subsystems and has strong bookings, visible high-margin revenue through 2027, and improving demand despite multiple compression.
- Credo TechnologySep 2026Credo Technology develops data-infrastructure connectivity components and is seen as a key beneficiary of the AI build-out.
- Snowflake Inc.Jun 2026Snowflake Inc. provides a cloud data platform and is viewed as a central data layer for AI-driven enterprise workflows.