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Conestoga Capital Advisors

Dec 2024 → Sep 2026 · Publishes quarterly · 5 funds

Our archive holds 7 letters from Conestoga Capital Advisors, behind 45 investment theses and positions in 73 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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7
Letters
73
Companies
30
Moves
45
Theses

4 strategies

Conestoga Capital Advisors publishes a letter per strategy. Each one has its own page with what it holds, what it bought and what it wrote.

Returns as reported in each strategy’s latest letter, extracted automatically and not verified by us; one share class, in its own currency. Not investment advice. Past performance does not predict future returns.

Also filed under Conestoga Capital Advisors.

What they bought and sold · 30 moves

  • ExitedWorkiva, Inc.
    September 2026
    “We sold the stock to reduce the portfolio’s exposure to software, which has been a battleground for investors as it’s deemed a potential area of disruption for AI.”
    Read the letter
  • New positionAllegro Microsystems, Inc.
    September 2026
    “We initiated a position because vehicle electrification, driver- assistance systems and other electronic features are increasing chip content per vehicle.”
    Read the letter
  • ExitedEVI Industries, Inc.
    September 2026
    “We exited the position after a period of rapid, acquisition driven expansion as the company continued to extend its buy and build strategy.”
    Read the letter
  • New positionStandex International Corp.
    September 2026
    “We were attracted to the company’s increasing exposure to faster-growing markets, including grid infrastructure, electrification and data centers, as well as its growing pipeline of new products.”
    Read the letter
  • TrimmedWorkiva, Inc.
    September 2026
    “We sold the stock to reduce the portfolio’s exposure to software, which has been a battleground for investors as it’s deemed a potential area of disruption for AI.”
    Read the letter
  • New positionEZCORP, Inc.
    September 2026
    “We initiated a position based on the company’s strong competitive position, durable demand for pawn services and significant opportunity to expand its store base.”
    Read the letter
  • New positionMACOM Technology Solutions Holdings, Inc.
    September 2026
    “We initiated a position because demand is growing for faster data center connections and more advanced defense electronics.”
    Read the letter
  • New positionCavco Industries, Inc.
    September 2026
    “We believe the company is well positioned to benefit from the persistent need for affordable housing, with manufactured homes offering a compelling alternative to traditional site-built housing.”
    Read the letter
  • ExitedHillman Solutions, Inc.
    September 2026
    “We exited the position as the company’s growth became increasingly dependent on acquisitions and new business wins, while underlying core growth remained modest.”
    Read the letter
  • New positionSterling Infrastructure, Inc.
    September 2026
    “We initiated a position because its scale and experience help it win complex, mission-critical projects.”
    Read the letter
  • AddedCognex Corp.
    September 2026
    “This former holding has a new CEO, and the business maintains its high-quality characteristics, including its leading market position, proprietary technology, high barriers to entry, attractive margins, and strong balance sheet.”
    Read the letter
  • ExitedBright Horizons Family Solutions, Inc.
    September 2026
    “We exited the position because of persistent enrollment growth challenges at its full-service centers since the Covid pandemic.”
    Read the letter
  • ExitedBio-Techne Corp.
    September 2026
    “We exited the position following the company’s agreement to be acquired by Merck KGaA for $73 per share in cash, representing an enterprise value of approximately $11.3 billion.”
    Read the letter
  • New positionSEI Corp.
    September 2026
    “We initiated a position in SEIC, a provider of investment processing, administration, and asset-management solutions.”
    Read the letter
  • New positionCognex Corp.
    September 2026
    “This former holding has a new CEO, and the business maintains its high-quality characteristics, including its leading market position, proprietary technology, high barriers to entry, attractive margins, and strong balance sheet.”
    Read the letter
  • New positionPerimeter Solutions, Inc.
    June 2026
    “We initiated a position based on the company's durable earnings profile, disciplined capital allocation, and strong competitive position in niche markets.”
    Read the letter
  • ExitedBadger Meter, Inc.
    June 2026
    “We exited the position after the company reported a decline in 1Q revenue and low visibility for a meaningful recovery.”
    Read the letter
  • New positionMagnolia Oil & Gas Corp.
    June 2026
    “We initiated a position based on the company's disciplined operating model, attractive free cash flow generation, and consistent track record of capital allocation.”
    Read the letter
  • TrimmedAzenta, Inc.
    June 2026
    “We sold the position after execution challenges, weaker life sciences funding, and continued softness in capital equipment demand led management to lower its full- year outlook.”
    Read the letter
  • ExitedCCC Intelligent Solutions Holdings, Inc.
    June 2026
    “We exited the position as we became more selective within the software sector, favoring businesses with greater upside potential and fewer structural headwinds (reduced auto claims frequency).”
    Read the letter
  • TrimmedU.S. Physical Therapy, Inc.
    June 2026
    “We sold the position as labor cost pressures, reimbursement uncertainty, and slower margin expansion tempered our long-term return expectations despite continued solid demand for rehabilitation services.”
    Read the letter
  • ExitedCrane NXT Co.
    June 2026
    “We exited the position after the company completed several strategic acquisitions that expanded its addressable market but also increased integration and execution risk.”
    Read the letter
  • TrimmedPlanet Labs PBC
    June 2026
    “We sold the position following a period of exceptional share price appreciation as the company continued to execute well and investor enthusiasm surrounding its defense, AI, and satellite services opportunities drove a significant expansion in valuation.”
    Read the letter
  • New positionForgent Power Solutions, Inc.
    June 2026
    “We were attracted to the company's accelerating market share gains, expanding margins, and exposure to long-term electrification and AI-driven infrastructure investment.”
    Read the letter
  • New positionPermian Resources Corp.
    June 2026
    “We initiated a position based on the company's low-cost operating model, disciplined capital allocation, and ability to consistently grow free cash flow across commodity cycles.”
    Read the letter
  • ExitedEnergy Recovery, Inc.
    June 2026
    “We exited the position as increasing geopolitical uncertainty in the Middle East, project timing delays, and the withdrawal of full-year guidance reduced near-term earnings visibility.”
    Read the letter
  • ExitedClearwater Analytics Holdings, Inc.
    June 2026
    “We sold the position following the company's acquisition by Thoma Bravo, which successfully monetized our investment thesis and provided an attractive exit.”
    Read the letter
  • ExitedN-able, Inc.
    June 2026
    “We exited the position as we became more selective within the software sector, despite the company's continued operational execution.”
    Read the letter
  • New positionDT Midstream, Inc.
    June 2026
    “We believe the company is well positioned to benefit from increasing natural gas demand driven by LNG exports, electric power generation, and data center development.”
    Read the letter
  • ExitedSimulations Plus, Inc.
    September 2025
    “With near-term headwinds outweighing long-term potential, we decided to sell the stock.”
    Read the letter

Companies held · 73

Every company Conestoga Capital Advisors has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 45

Letter archive · 7

2026

2025

2024

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