Leaders at the Bell with Joshua Bischoff, Partner at TimesSquare Capital Management, Aug. 27, 2026

Joshua Bischoff, Partner and Head of Trading at TimesSquare Capital Management, joined Leaders at the Bell to discuss market structure, trading dynamics for institutional investors, and opportunities in small and mid-cap growth stocks. Bischoff, a former floor trader at the New York Stock Exchange, reflected on current market conditions following NVIDIA's earnings report and the upcoming Jackson Hole Fed meeting, noting that focus would likely shift to interest rate policy and Fed Chair Walsh's remarks. He explained the intricate process behind executing large institutional trades without moving markets, particularly in less liquid small and mid-cap names. TimesSquare employs a multi-faceted approach using high-touch brokers to find natural counterparties, crossing networks for anonymous institutional transactions, and algorithms tailored to specific timing needs and market events.

As a quality growth shop focused on bottom-up fundamental analysis, TimesSquare integrates technology platforms like Omega Point for risk analytics and Alpha Theory for position sizing and scenario analysis. Bischoff emphasized the importance of understanding both company-specific fundamentals and broader style factors, particularly when navigating interest rate volatility. While acknowledging the challenge of maintaining discipline in a market dominated by technology mega-caps, he stressed the firm's commitment to its quality growth mandate. Looking ahead, Bischoff highlighted energy and healthcare as sectors with compelling opportunities, citing infrastructure needs driven by AI power consumption and ongoing innovation in biotech, where TimesSquare leverages specialized expertise to evaluate clinical trials and emerging therapies.