Conestoga Capital Advisors LLC's Q3 2025 13F: 5 new positions, 5 exits
Form 13F-HR for the quarter ended Sep 30, 2025 · filed Oct 24, 2025 · 122 reported positions · accession 0001163744-25-000002
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | CONSTRUCTION PARTNERS INC (ROAD) | 4.1% | 4.3% | +0.2 pts | −502K sh | −19% |
| Reduced | SIMPSON MFG INC (SSD) | 2.5% | 2.4% | −0.2 pts | −221K sh | −20% |
| Reduced | CCC INTELLIGENT SOLUTIONS HL (CCC) | 2.0% | 1.6% | −0.5 pts | −3.9M sh | −27% |
| Reduced | FIRSTSERVICE CORP NEW (FSV) | 3.6% | 3.7% | +0.1 pts | −179K sh | −13% |
| New | MIRION TECHNOLOGIES INC (MIR) | — | 0.5% | +0.5 pts | +1.35M sh | new |
| Reduced | ESCO TECHNOLOGIES INC (ESE) | 2.9% | 3.0% | +0.1 pts | −144K sh | −14% |
| Reduced | FEDERAL SIGNAL CORP (FSS) | 2.1% | 2.1% | 0.0 pts | −255K sh | −19% |
| Reduced | EXPONENT INC (EXPO) | 3.0% | 2.6% | −0.4 pts | −345K sh | −13% |
| Reduced | MERCURY SYS INC (MRCY) | 2.0% | 2.8% | +0.8 pts | −279K sh | −11% |
| Reduced | VERTEX INC (VERX) | 1.8% | 1.0% | −0.8 pts | −855K sh | −25% |
| Exited | SIMULATIONS PLUS INC (SLP) | 0.3% | — | −0.3 pts | −1.28M sh | −100% |
| Increased | BALCHEM CORP (BCPC) | 2.7% | 3.1% | +0.4 pts | +125K sh | +11% |
| Increased | CASELLA WASTE SYS INC (CWST) | 4.6% | 4.4% | −0.2 pts | +196K sh | +7% |
| Reduced | HILLMAN SOLUTIONS CORP (HLMN) | 0.8% | 0.8% | 0.0 pts | −1.87M sh | −25% |
| Reduced | NOVANTA INC (NOVT) | 3.0% | 2.3% | −0.7 pts | −169K sh | −11% |
| Reduced | KADANT INC (KAI) | 1.0% | 0.8% | −0.2 pts | −53,353 sh | −24% |
| Reduced | AAON INC (AAON) | 2.0% | 2.5% | +0.5 pts | −168K sh | −9% |
| Reduced | HELIOS TECHNOLOGIES INC (HLIO) | 1.0% | 1.4% | +0.4 pts | −294K sh | −15% |
| Reduced | WORKIVA INC (WK) | 1.2% | 1.4% | +0.2 pts | −174K sh | −15% |
| Reduced | AZENTA INC (AZTA) | 0.9% | 0.7% | −0.2 pts | −450K sh | −23% |
| Reduced | NCINO INC (NCNO) | 1.1% | 1.0% | −0.1 pts | −395K sh | −15% |
| Reduced | MESA LABS INC (MLAB) | 0.8% | 0.5% | −0.3 pts | −140K sh | −25% |
| Reduced | VERICEL CORP (VCEL) | 1.5% | 1.1% | −0.5 pts | −288K sh | −12% |
| Reduced | TRANSCAT INC (TRNS) | 1.4% | 1.1% | −0.2 pts | −114K sh | −10% |
| Reduced | AGILYSYS INC (AGYS) | 1.2% | 1.1% | −0.1 pts | −76,485 sh | −10% |
| Reduced | GENERAC HLDGS INC (GNRC) | 0.3% | 0.3% | 0.0 pts | −40,772 sh | −25% |
| Reduced | TREX CO INC (TREX) | 1.6% | 1.6% | 0.0 pts | −102K sh | −5% |
| Reduced | DESCARTES SYS GROUP INC (DSGX) | 4.0% | 4.0% | −0.1 pts | −52,473 sh | −2% |
| Reduced | DIGI INTL INC (DGII) | 1.8% | 2.0% | +0.2 pts | −133K sh | −4% |
| Reduced | RBC BEARINGS INC (RBC) | 3.6% | 3.9% | +0.3 pts | −11,803 sh | −2% |
| Reduced | WATSCO INC (WSO) | 0.7% | 0.6% | −0.1 pts | −11,243 sh | −11% |
| Reduced | SPX TECHNOLOGIES INC (SPXC) | 2.0% | 2.3% | +0.4 pts | −18,402 sh | −2% |
| Reduced | CSW INDUSTRIALS INC (CSWI) | 2.5% | 2.3% | −0.3 pts | −13,880 sh | −2% |
| Reduced | POOL CORP (POOL) | 0.6% | 0.6% | 0.0 pts | −10,364 sh | −8% |
| Increased | SPS COMM INC (SPSC) | 2.5% | 2.1% | −0.4 pts | +30,769 sh | +2% |
| Reduced | MSA SAFETY INC (MSA) | 1.9% | 2.1% | +0.2 pts | −17,295 sh | −2% |
| Reduced | REPLIGEN CORP (RGEN) | 1.8% | 2.1% | +0.3 pts | −19,994 sh | −2% |
| Reduced | LEMAITRE VASCULAR INC (LMAT) | 2.0% | 2.2% | +0.2 pts | −28,840 sh | −2% |
| Increased | BRIGHT HORIZONS FAM SOL IN D (BFAM) | 1.6% | 1.5% | 0.0 pts | +22,570 sh | +3% |
| Reduced | PLANET LABS PBC (PL) | 0.0% | 0.1% | 0.0 pts | −181K sh | −42% |
| Reduced | UL SOLUTIONS INC (ULS) | 1.3% | 1.3% | 0.0 pts | −32,595 sh | −3% |
| Reduced | MERIT MED SYS INC (MMSI) | 3.1% | 2.9% | −0.1 pts | −26,324 sh | −1% |
| Reduced | WILLDAN GROUP INC (WLDN) | 0.0% | 0.0% | 0.0 pts | −21,355 sh | −48% |
| Reduced | WEST PHARMACEUTICAL SVSC INC (WST) | 0.3% | 0.4% | +0.1 pts | −7,124 sh | −7% |
| Reduced | SITEONE LANDSCAPE SUPPLY INC (SITE) | 2.1% | 2.4% | +0.3 pts | −14,114 sh | −1% |
| Reduced | PROCORE TECHNOLOGIES INC (PCOR) | 0.3% | 0.4% | 0.0 pts | −24,730 sh | −7% |
| Reduced | WD 40 CO (WDFC) | 1.1% | 1.0% | −0.1 pts | −8,545 sh | −3% |
| Exited | OLO INC (OLO) | 0.0% | — | 0.0 pts | −198K sh | −100% |
| Exited | NV5 GLOBAL INC (NVEE) | 0.0% | — | 0.0 pts | −73,872 sh | −100% |
| Reduced | BIO-TECHNE CORP (TECH) | 0.3% | 0.3% | 0.0 pts | −26,429 sh | −8% |
The 50 largest of 112 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 35.5% of the equity book
Changes in the top 10 this quarter: BCPC entered · MRCY entered · NOVT left · EXPO left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | CASELLA WASTE SYS INC (CWST) | 4.6% | 4.4% | |
| 2 | CONSTRUCTION PARTNERS INC (ROAD) | 4.1% | 4.3% | |
| 3 | DESCARTES SYS GROUP INC (DSGX) | 4.0% | 4.0% | |
| 4 | RBC BEARINGS INC (RBC) | 3.6% | 3.9% | |
| 5 | FIRSTSERVICE CORP NEW (FSV) | 3.6% | 3.7% | |
| 6 | STEVANATO GROUP S P A (STVN) | 2.9% | 3.3% | |
| 7 | BALCHEM CORP (BCPC) | 2.7% | 3.1% | Entered the top 10 |
| 8 | ESCO TECHNOLOGIES INC (ESE) | 2.9% | 3.0% | |
| 9 | MERIT MED SYS INC (MMSI) | 3.1% | 2.9% | |
| 10 | MERCURY SYS INC (MRCY) | 2.0% | 2.8% | Entered the top 10 |
| — | NOVANTA INC (NOVT) | 3.0% | 2.3% | Left the top 10 |
| — | EXPONENT INC (EXPO) | 3.0% | 2.6% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).