TimesSquare Capital Management
TimesSquare US Small Cap Growth Strategy
US Small-cap Growth
Jun 2025 → Sep 2025
Our archive holds 2 letters from this strategy, behind 2 investment theses and positions in 16 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
In the near term, its shares gained 95% and we trimmed on that strength.
During the quarter we began a position in UniFirst Corporation, which supplies a range of work clothing, uniforms, protective apparel, and facility service products.
Joining the strategy this quarter was Mirion Technologies, which manufactures radiation detection, measurement, and monitoring products serving nuclear power and medical applications.
we bought additional shares.
We see both issues as transitory, knowing that Casella in the past quickly improved margins of acquisitions and the ERP system should facilitate that, so we added to our position.
In July, Merck announced plans to acquire this developer of treatments for allergic rhinitis and other chronic respiratory diseases, and we subsequently sold our shares.
As its shares pulled back by -14% we also reduced our holdings.
We felt differently about biopharma developer Soleno Therapeutics and added to our holdings as its shares pulled back by -19%.
Those problems persisted, so we exited the position.
We added to our position early in the quarter after Pursuit acquired a new property in Costa Rica, which tends to be a counter-cyclical market and seemed to be a good strategic fit.
New to the strategy this quarter was Mirum Pharmaceuticals, a commercial-stage biopharma developer of liver disease treatments.
Also held
Its investment theses
- Mirion TechnologiesSep 2025Mirion Technologies is a leading manufacturer of radiation detection products for nuclear power and medical applications, serving over 95% of global nuclear reactors and 80% of cancer centers, recently enhancing its portfolio through the acquisition of Paragon Energy Solutions.
- UniFirst CorporationSep 2025UniFirst Corporation is positioned for improved margins and share price benefits due to recent technological upgrades enhancing operations and customer service.