Conestoga Capital Advisors, LLC

Long Only Manager

Conestoga Capital Advisors, LLC is a Long Only Manager based in Wayne, PA led by Joseph Francis Monahan, reporting $8.8B in AUM as of Q3 2025 with 44% Industrials concentration.

PartnerJoseph Francis Monahan

Portfolio Value: $6.2B
Positions: 120
Top Holding: CWST at 4.38%
Last Reported: Q3 2025

AddressCrosspoint At Valley Forge, 550 E. Swedesford Rd. Suite 120, Wayne, PA, 19087, United States

Top Holdings

Largest long holdings in Conestoga Capital Advisors, LLC's portfolio (35.5% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Casella Waste Systems CWST	Waste Management Industrials	$272.9M	4.38%	+$18.6M Bought	4.53% 2.9M shares	Q3 2019 Held for 6y 2m
2 Construction Partners ROAD	Engineering & Construction Industrials	$270.7M	4.35%	-$63.7M Sold	3.80% 2.1M shares	Q1 2019 Held for 6y 8m
3 Descartes Systems Group DSGX	Software - Application Technology	$248.3M	3.99%	-$4.9M Sold	3.07% 2.6M shares	Q4 2016 Held for 8y 11m
4 RBC Bearings RBC	Manufacturing - Tools & Accessories Industrials	$244.3M	3.92%	-$4.6M Sold	1.98% 625.9K shares	Q2 2019 Held for 6y 5m
5 FirstService Corporation FSV	Real Estate - Services Real Estate	$233.0M	3.74%	-$34.1M Sold	2.69% 1.2M shares	Q4 2018 Held for 6y 11m
6 Stevanato Group STVN	Medical - Instruments & Supplies Healthcare	$208.4M	3.35%	-$767.2K Sold	2.97% 8.1M shares	Q2 2022 Held for 3y 5m
7 Balchem BCPC	Chemicals - Specialty Basic Materials	$191.0M	3.07%	+$18.8M Bought	3.92% 1.3M shares	Q1 2013 Held for 12y 8m
8 ESCO Technologies ESE	Hardware, Equipment & Parts Technology	$184.3M	2.96%	-$30.4M Sold	3.38% 873.2K shares	Q1 2017 Held for 8y 8m
9 Merit Medical Systems MMSI	Medical - Instruments & Supplies Healthcare	$181.9M	2.92%	-$2.2M Sold	3.69% 2.2M shares	Q2 2019 Held for 6y 5m
10 Mercury Systems MRCY	Aerospace & Defense Industrials	$176.5M	2.83%	-$21.6M Sold	3.80% 2.3M shares	Q2 2018 Held for 7y 5m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Conestoga Capital Advisors, LLC's latest filing

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Market Value

$6.2B

Prior: $6.8B

Q/Q Change

-7.92%

-$535.8M

Net Flows % of MV

-7.53%

Turnover Ratio

5.09%

New Purchases

4 stocks

$34.4M

Added To

34 stocks

+$48.2M

Sold Out Of

5 stocks

$27.0M

Reduced Holdings

66 stocks

-$524.5M

Increased Positions

Position	Shares Δ	Change
1 Mirion Technologies MIR	New	0 → 1.4M +$31.4M
2 TIC Solutions TIC	New	0 → 106.0K +$1.4M
3 Climb Global Solutions, Inc. CLMB	New	0 → 9.0K +$1.2M
4 Synopsys SNPS	New	0 → 698.0 +$344.4K
5 Twist Bioscience Corporation TWST	+95.84%	28.4K → 55.6K +$765.7K

Decreased Positions

Position	Shares Δ	Change
1 Simulations Plus SLP	Sold	1.3M → 0 −$22.4M
2 Olo OLO	Sold	198.1K → 0 −$1.8M
3 NV5 Global, Inc. NVEE	Sold	73.9K → 0 −$1.7M
4 Ansys ANSS	Sold	2.2K → 0 −$764.3K
5 FactSet Research Systems FDS	Sold	922.0 → 0 −$412.4K