Group 1: Market Overview - In Q2 2025, equities experienced double-digit returns due to expanding global economic activity, with growth indexes outperforming value counterparts [1] - Global risk factors such as Beta, Momentum, and Residual Volatility were rewarded, while Earnings Quality, Value, and Growth detracted [1] - U.S. small and mid-cap growth indexes saw better returns from stocks with high valuations, negative earnings, or low returns on equity [1] Group 2: TimesSquare Capital Performance - The TimesSquare Capital U.S. Focus Growth Strategy achieved a return of 11.79% (gross) and 11.56% (net), compared to an 18.20% return for the Russell Midcap Growth Index [1] Group 3: EMCOR Group, Inc. (NYSE:EME) Highlights - EMCOR Group, Inc. contributed a 45% return, providing construction and operational services for mechanical and electrical systems [3] - EMCOR reported revenues of $4.3 billion in Q2 2025, an increase of $637.5 million or 17.4% from Q2 2024 [4] - The stock had a one-month return of 4.04% and a 52-week gain of 63.30%, closing at $634.40 per share with a market capitalization of $28.398 billion [2][4] Group 4: Hedge Fund Interest - At the end of Q2 2025, 51 hedge fund portfolios held EMCOR Group, Inc., an increase from 49 in the previous quarter [4]