TimesSquare Capital Management
TimesSquare U.S. Small Cap Growth Strategy
US Small-cap Growth
Mar 2026 → Jun 2026
Our archive holds 2 letters from this strategy and positions in 37 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year — follow all of TimesSquare Capital Management for every strategy.
What it bought and sold
The company reported better-than-feared first-quarter revenue, but near-term macroeconomic uncertainty continued to weigh on its stock, prompting us to trim our position as a result.
We added to our position in Pursuit Attractions and Hospitality, an operator of experiential travel attractions and hospitality assets.
Hamilton Lane, a provider of private markets investment solutions, was the sector's largest detractor, falling -21% as the space contended with ongoing concerns around private credit redemptions and optimistic marks on software investments; our granular analysis of the company's exposures continues to suggest the decline is overdone, and we trimmed the position modestly.
One of the new positions we initiated this quarter is Dianthus Therapeutics, a clinical-stage biotechnology company developing novel complement-pathway antibodies for severe autoimmune and neuromuscular diseases, led by its lead candidate DNTH103.
Bloom Energy, a manufacturer of solid-oxide fuel cell power platforms, surged 133% on accelerating demand for on-site and data center power generation, and we trimmed into that strength.
We reduced our position on persistent weakness due to a combination of multiple compression and weak sentiment regarding AI monetization.
MACOM Technology Solutions, a provider of analog and mixed-signal semiconductor solutions for industrial and communications markets, rose 71% on continued strength across its defense and data center end markets.
During the quarter, we exited Planet Fitness, a franchisor and operator of fitness clubs, which fell -38% while held within the portfolio.
Conversely, we reduced our position in BJ's Wholesale Club, which operates membership warehouse clubs in the eastern half of the U.S.
Credo Technology, a provider of high-speed connectivity solutions for data centers, soared 190% on surging hyperscaler demand for its active electrical cable products.
We decided to trim back the position.
We added to the position on weakness.
We trimmed the position on the strength of its 36% stock price appreciation.
We exited the Amplitude Inc. position, which offers an AI analytics platform that helps analyze customer behavior within digital products.