Conestoga Capital Advisors portfolio

What changed this quarter

90 positions with a change (9 new, 18 added to, 55 trimmed, 8 sold). 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• FirstService−38%fewer sharesReduced
  3.8% → 2.9%
• Novanta−32%fewer sharesReduced
  4.3% → 3.6%
• Repligen−29%fewer sharesReduced
  2.9% → 4.1%
• Digi International−31%fewer sharesReduced
  3.5% → 3.5%
• Descartes Systems Group−33%fewer sharesReduced
  2.8% → 3.0%
• Casella Waste Systems−26%fewer sharesReduced
  4.9% → 4.2%
• Merit Medical Systems−24%fewer sharesReduced
  3.0% → 3.9%
• Lemaitre Vascular−36%fewer sharesReduced
  2.9% → 2.2%
• Esco Technologies−34%fewer sharesReduced
  3.4% → 2.4%
• Balchem−21%fewer sharesReduced
  4.0% → 4.3%
• Exponent−41%fewer sharesReduced
  1.6% → 1.5%
• RBC Bearings−20%fewer sharesReduced
  4.6% → 3.9%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• BalchemBCPC4.3%
• Casella Waste SystemsCWST4.2%
• RepligenRGEN4.1%
• Merit Medical SystemsMMSI3.9%
• RBC BearingsRBC3.9%
• NovantaNOVT3.6%
• Stevanato Group S.p.A.STVN3.5%
• Digi InternationalDGII3.5%
• CSW IndustrialsCSW3.3%
• Construction PartnersROAD3.1%
• Descartes Systems GroupDSGX3.0%
• Mercury SystemsMRCY3.0%
• FirstServiceFSV2.9%
• Esco TechnologiesESE2.4%
• SPX TechnologiesSPXC2.3%
• Lemaitre VascularLMAT2.2%
• AAONAAON2.1%
• MSA SafetyMSA2.0%
• VericelVCEL1.9%
• Federal SignalFSS1.9%
• Q2 HoldingsQTWO1.8%
• SiteOne Landscape SupplySITE1.8%
• Helios TechnologiesHLIO1.7%
• Simpson ManufacturingSSD1.6%
• KnowlesKN1.5%
• ExponentEXPO1.5%
• EnproNPO1.4%
• UL SolutionsULS1.3%
• Kodiak Gas ServicesKGS1.3%
• West Pharmaceutical ServicesWST1.1%
• AgilysysAGYS1.1%
• KadantKAI1.0%
• ArtivionAORT0.9%
• TranscatTRNS0.9%
• nCinoNCNO0.9%
• Perimeter SolutionsPRM0.9%
• Guidewire SoftwareGWRE0.9%
• Karman HoldingsKRMN0.8%
• Matador ResourcesMTDR0.8%
• RollinsROL0.8%
• HeicoHEI/A0.8%
• Tyler TechnologiesTYL0.8%
• Allegro MicrosystemsALGM0.8%
• Magnolia Oil & GasMGY0.7%
• VSEVSEC0.6%
• LegenceLGN0.6%
• GracoGGG0.6%
• WD 40WDFC0.6%
• Cavco IndustriesCVCO0.6%
• Jack Henry & AssociatesJKHY0.6%
• WatscoWSO0.5%
• Standex InternationalSXI0.5%
• Universal Technical InstituteUTI0.5%
• MACOM Technology Solutions HoldingsMTSI0.5%
• Procore TechnologiesPCOR0.5%
• CACI InternationalCACI0.5%
• JBT MarelJBTM0.4%
• Mirion TechnologiesMIR0.4%
• Permian ResourcesPR0.4%
• POOLPOOL0.4%
• LCI IndustriesLCII0.4%
• CognexCGNX0.3%
• Forgent Power SolutionsFPS0.3%
• Sterling InfrastructureSTRL0.3%
• DT MidstreamDTM0.3%
• SEI InvestmentsSEIC0.2%
• Twist BioscienceTWST0.1%
• Palomar HoldingsPLMR0.1%
• Mama’s CreationsMAMA0.1%
• BioLife SolutionsBLFS0.1%
• Alpha TeknovaTKNO0.1%
• Vita CocoCOCO0.1%
• CryoportCYRX0.1%
• ElectrovayaELVA0.1%
• Climb Global SolutionsCLMB0.1%
• GrahamGHM0.1%
• Oddity TechODD0.1%
• Park AerospacePKE0.1%
• Willdan GroupWLDN0.1%
• IradimedIRMD0.1%
• EzcorpEZPW0.1%
• NPK InternationalNPKI0.1%
• TecsysTCYSF0.1%
• AlphabetGOOGL · GOOG0.1%
• OrthoPediatricsKIDS0.1%
• OnterrisONTunder 0.1%
• MicrosoftMSFTunder 0.1%
• Costco WholesaleCOSTunder 0.1%
• FastenalFASTunder 0.1%
• Berkshire HathawayBRK/Bunder 0.1%
• S&P GlobalSPGIunder 0.1%
• MastercardMAunder 0.1%
• LindeLINunder 0.1%
• Johnson & JohnsonJNJunder 0.1%
• Bio-techneTECHunder 0.1%
• Verisk AnalyticsVRSKunder 0.1%
• AppleAAPLunder 0.1%
• FortinetFTNTunder 0.1%
• Exxon MobilXOMunder 0.1%