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Our latest Quarterly Newsletter takes a closer look at the themes driving global markets in 2026, from the growing cybersecurity opportunity driven by AI adoption to the increasing focus on energy sovereignty, defense modernization, and resilient infrastructure across international markets.
Read our latest research insights, portfolio manager perspectives, and firm updates, including the continued growth of the TimesSquare Quality Mid Cap Growth ETF (Nasdaq: TSCM), and new investment team updates.
In this edition of Inside the Investment Room, we examine how rising geopolitical tensions, persistent inflation, and accelerating AI adoption are reshaping market leadership across sectors. From the massive infrastructure buildout supporting AI and data center growth to evolving energy security dynamics and mounting consumer pressures, the current environment is creating meaningful divergence beneath the surface of the market.
Finding Value in Cybersecurity: Exploring how rapid AI adoption is reshaping the cybersecurity landscape, intensifying threats, elevating the need for orchestration and governance, and reinforcing the long-term positioning of scaled platform providers.
Our latest Research Analyst Deep Dive explores how resilience and sovereignty are redefining the global investment landscape in 2026.
As global priorities shift from efficiency toward strategic autonomy, we are encouraged by the structural tailwinds emerging across energy, defense, and infrastructure, while remaining mindful of the geopolitical risks driving this transformation.
• Energy: Power is evolving into a strategic asset, with the AI–energy intersection accelerating demand for reliable, base-load infrastructure.
• Defense & Infrastructure: Governments are prioritizing domestic capacity, driving sustained investment across critical industries.
• Supply Chains: Capital is shifting toward localized production and “friend-shoring” to enhance security and reduce vulnerability.
• Metals & Mining: A growing “sovereignty premium” is emerging as nations prioritize access to critical resources.
In the latest edition of Inside the Investment Room, we explore a global shift from efficiency to security as geopolitical tensions and supply chain vulnerabilities reshape capital allocation. Governments and industries are prioritizing resilience, driving investment across energy, defense, infrastructure, and critical minerals while redefining competitive dynamics across regions. We examine how this transition is creating a sovereignty premium, where strategic necessity increasingly guides capital flows, and highlight where long-term opportunities are emerging amid structural change. As markets evolve under policy driven forces, disciplined bottom-up investing remains key to identifying companies positioned to benefit from this new era of resilience.
In the latest episode of The Business Brew, host Bill Brewster, CFA, JD, sits down with Sonu Chawla, CFA, Portfolio Manager of the TimesSquare Quality Mid Cap Growth ETF (TSCM).
Sonu shares her “Growth with a Conscience” philosophy, focused on disciplined valuation, strong management teams, and identifying companies early in their growth journey.
She also highlights:
• The opportunity set in mid cap equities
• How volatility can create compelling long-term entry points
• Key investments including Argenx, JFROG, Cheniere Energy, and Carpenter Technology
A thoughtful conversation on staying grounded in fundamentals in a fast-moving market.
Our newest Research Analyst Deep Dive explores why Industrials are emerging as one of the prevalent sectors in today’s market.
We are encouraged by the significant structural tailwinds supporting the Industrial sector, yet remain vigilant of the tail risks posed by the rising potential for a protracted energy crisis.
Driven by AI infrastructure investment, rising defense spending, and a recovering manufacturing cycle, the sector is benefiting from multiple structural tailwinds. As these forces converge, we believe Industrials are entering the early stages of a new growth cycle.
In the latest edition of Inside the Investment Room, we examine market rotation as AI investment accelerates. AI-driven capex is fueling demand across cyclicals, including industrials, energy, and materials, while creating new competitive pressures elsewhere. We highlight where opportunities are emerging, where caution is warranted, and why disciplined, bottom-up stock selection remains essential in a market defined by dispersion.
Our latest Quarterly Newsletter explores the forces shaping markets in 2026, from AI-driven industrial demand and defense modernization to evolving opportunities across mid cap equities and international markets.
Read our latest research insights, portfolio manager perspectives, and firm updates, including the launch of the TimesSquare Quality Mid Cap Growth ETF (Nasdaq: TSCM) and our celebration of 25 years of Quality Growth investing.
Finding Quality in the SaaSacre: Evaluating how artificial intelligence is redrawing competitive boundaries in enterprise software, pressuring traditional seat-based models, and challenging long-held assumptions around pricing power and terminal value.
This inaugural edition of Inside the Investment Room pulls back the curtain on how TimesSquare invests when macro forces and fundamentals intersect. Grounded in disciplined bottom-up research and sharpened by macro awareness, it explores the crosscurrents shaping capital allocation, valuation, and risk across sectors, from rates and inflation to AI and evolving market breadth. It is a candid look at how ideas are pressure-tested, where opportunity is emerging, and why conviction still starts at the company level.
Sonu Chawla brings nearly two decades of experience as a disciplined quality growth investor, with a strong emphasis on fundamental research, management quality, and long-term compounding. Her investment philosophy, “growth with a conscience,” guides TimesSquare’s differentiated approach to mid-cap equities, positioning the firm to generate alpha across market cycles.
Reclaiming the Middle Ground: Steering through a shifting index landscape as concentration rises, sector exposures swing, and active management becomes essential to capturing the market’s most consistent growth engine.
Explore the latest developments shaping the close of 2025, from the evolving Mid Cap landscape to the sector-level shifts driven by AI, cybersecurity, and cloud modernization. Dive into our latest insights, firm updates, and performance perspective as we look ahead into 2026.
Objects in the Small & Mid Cap Benchmarks are Larger Than They Appear!
Science Meets Strategy: A deeper look into the small cap biopharma opportunity set and our disciplined investment approach. This white paper explores how demographic tailwinds, structural barriers, and transformative scientific innovation create compelling opportunities, and highlights the importance of our focus on quality growth companies to manage the unique risks of this dynamic sector.
Science Meets Strategy: Navigating innovation and growth opportunities in small cap biopharma amid complexity, volatility, and transformative scientific advancement.
Unpack the key trends, market shifts, and strategic insights that shaped the Second Quarter of 2025. From index reconstitutions to sector rotations and global economic currents, our investment team share perspectives on the factors driving today’s investment landscape.
Looking Outward: Navigating global opportunities amid valuation gaps and evolving landscapes in Europe and Japan.
Welcome to the second edition of our quarterly newsletter, where we explore key developments from the First Quarter of 2025 — including evolving market sentiment, sector-specific shifts, insights from our investment team, and perspectives on how international markets may offer relative value in the current environment.
Investing Beyond Borders: Weighing China’s impact amid economic and geopolitical shifts.
Welcome to the inaugural edition of our quarterly newsletter! Crafted with the latest updates on our firm, market trends, and insights from our investment team.
Navigating Semiconductor Cycles: Uncover how end-market exposure shapes the evaluation of semiconductor companies in a dynamic industry.
Here with us to discuss the 2nd quarter for the U.S. Mid Cap Growth strategy is Portfolio Manager, Sonu Chawla, CFA.
Sonu and Ron Ongaro, CAIA review Q2 2024 performance.
Defining Quality in Investing: Explore how TimesSquare integrates quality in our investment approach.
Here with us to discuss the 1st quarter for the U.S. Mid Cap Growth strategy is Portfolio Manager, Sonu Chawla, CFA.
Sonu and Ron Ongaro, CAIA review Q1 2024 performance.
Exploring Japan’s Investment Landscape: Dive into our latest insights on how market dynamics are reshaping investment opportunities in Japan.
Unlocking the Power of Small Caps: Discover why TimesSquare prioritizes growth for long-term success.
Here with us to discuss the 4th quarter for the U.S. Mid Cap Growth strategy is Portfolio Manager, Sonu Chawla, CFA.
Sonu and Ron Ongaro, CAIA review Q4 2023 performance.
Looking beyond Taiwan Semiconductor Manufacturing Company (TSMC): In his latest trip to Taiwan, David Oh dove into Emerging Markets Small Cap investing with Alex Lee at Taiwan Talks and discussed Taiwan’s role in the global investment landscape.
https://www.youtube.com/watch?v=3Rxsp–tPK8
This webcast is for your information and is provided for educational purposes only. The views expressed are the views of TimesSquare Capital Management, LLC only through the period ended January 31, 2024, and are subject to change based on market and other conditions. The opinions expressed may differ from those with different investment philosophies. The information we provide does not constitute investment advice and it should not be relied on as such. It should not be considered an offer or solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information. Past performance does not guarantee future results.
TimesSquare Capital Management LLC is a fundamental research-oriented equity investment management firm specializing in growth equity strategies. Our strategies cover U.S. based domestic and non-U.S. based global equities. We use a well-established, team approach to growth investing that has been in place since the mid-1980s. Our goal is to build diversified portfolios of growth stocks that generate competitive risk-adjusted returns. To learn more about TimesSquare, please visit our website at TSCMLLC.com.
What is TimesSquare’s perspective on the GLP-1 phenomenon?
TimesSquare’s coverage of the biotechnology, pharmaceuticals and medical devices industries is led by our own Global Health Care Portfolio Manager, David Ferreiro, Ph.D. (Ph.D. in Microbiology and Immunology from the Albert Einstein College of Medicine). David has summarized TimesSquare’s position in the attached PDF.
To read more about TimesSquare’s investments in Health Care, please visit our Resources Page.
Following in our webcast series we are excited to highlight Emerging Markets Small Cap, with Portfolio Manager, David L. Oh.
David and Leona Yang, CFA discuss his recent travels to Asia, innovative trends & key factors in the industry, as well as why small cap is the “true” emerging market.
Over the years, the Mid cap market niche has demonstrated attractive characteristics, however, it tends to be under-allocated. With its appealing risk/return characteristics along with a nice blend of growth and quality, we believe this space presents a compelling investment case and merits consideration for investors’ portfolio allocation.