AMG TimesSquare Mid Cap Growth Fund Q1 2025 Commentary

Summary

  • The AMG TimesSquare Mid Cap Growth Fund outperformed its benchmark in Q1 2025, returning -3.48% versus the Russell Midcap Growth Index's -7.12%.
  • Strong stock selection in sectors like consumer, healthcare, and technology—highlighted by gains in Pinterest, O'Reilly, BJ's, Cencora, and JFrog—drove relative outperformance.
  • Market volatility, policy uncertainty, and inflationary pressures led to broad-based U.S. equity weakness, but the fund's long-term, resilient approach remains unchanged.
  • We remain cautious amid rapid policy changes but opportunistically add to oversold positions, focusing on companies with strong fundamentals and business momentum.

business growth chart Up arrow sign, businessman hands showing graph with up arrow, company growth.

Thapana Onphalai

The AMG TimesSquare Mid Cap Growth Fund (MUTF:TQMIX) (Class I) returned -3.48% for the first quarter of 2025, compared with -7.12% for the benchmark, the Russell Midcap ® Growth Index. For the 12 months ending March 31, 2025, the Fund returned −2.74%, while the benchmark returned 3.57%.

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