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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Oct 13, 2025 | Conestoga Mid Cap Composite | -3.2% | 1.1% | AAON, BCPC, CSWI, CWST, DSGX.TO, ESE, EXPO, FSV.TO, HLIO, HLMN, MIR, MRCY, NOVT, QTWO, RBC, ROAD, SLP, SPSC, STVN, VERX | defense, growth, Quality, small caps, software, value | Mid-cap stocks underperformed large-caps amid concentration in mega-cap tech leadership. Conestogas focus on sustainable earnings growth and conservative valuations left it lagging during speculative phases but positioned for long-term compounding when fundamentals reassert. The firm maintains exposure to industrial and technology companies with steady cash flows. | IDXX US WST US |
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| 2025 Q3 | Oct 13, 2025 | Conestoga SMid Cap Composite | -1.1% | -2.1% | AAON, BCPC, CSWI, CWST, DSGX.TO, ESE, EXPO, FSV, HLIO, HLMN, MIR, MRCY, NOVT, QTWO, RBC, ROAD, SLP, SPSC, STVN, VERX | defense, growth, industrials, Quality, small caps, software, technology | The SMid-Cap strategy underperformed amid a rally dominated by unprofitable, high-beta stocks, while its disciplined quality-growth approach faced headwinds. Weakness in software and lack of semiconductor exposure weighed on returns, though select industrials and healthcare names showed resilience. Management views the current low-quality outperformance as typical of early-cycle conditions likely to normalize. | View | |
| 2025 Q3 | Oct 13, 2025 | Conestoga Micro Cap Composite | 11.7% | 18.5% | AAON, BCPC, CSWI, CWST, DSGX.TO, ESE, EXPO, FSV.TO, HLIO, HLMN, MIR, MRCY, NOVT, QTWO, RBC, ROAD, SLP, SPSC, STVN, VERX | Beta, defense, industrials, profitability, Quality, small caps, software, technology | Micro-caps rallied sharply amid risk-on sentiment, driven by illiquid and unprofitable stocks. Conestogas industrial holdingsespecially engineering, defense, and environmental firmsoutperformed on infrastructure spending tailwinds, while healthcare and software detracted. The letter emphasizes durable growth from clean-energy consulting and engineering projects benefiting from federal investment. | BWMN US WLDN US |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||