SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Conestoga Capital Advisors, LLC

CIK 0001163744 · 550 E. SWEDESFORD ROAD, SUITE 120, WAYNE, PA, 19087 · 484-654-1380

Reported Value
$6.0B
Q1 2023
Positions
129
Filings on Record
30
2019–present window
Filed
Apr 24, 2023
original filing

Summary

Conestoga Capital Advisors, LLC reported $6.0B in U.S.-listed holdings across 129 positions for Q1 2023.

Its largest position, CWST, represents 4.2% of the portfolio.

Compared with Q4 2022, the fund opened 1 new position and exited 4.

Portfolio Metrics

Turnover
+2.3%
vs prior filed quarter
Top-10 Concentration
+35.0%
share of reported value
Largest Position
+4.2%
Casella Waste Sys
New / Exited
1 / 4
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $3.1BQ4 ’18Q1 ’19: $3.6BQ2 ’19: $4.0BQ3 ’19: $3.9BQ4 ’19: $4.2BQ4 ’19Q1 ’20: $3.4BQ2 ’20: $4.6BQ3 ’20: $5.0BQ4 ’20: $6.3BQ4 ’20Q1 ’21: $6.6BQ2 ’21: $6.9BQ3 ’21: $7.2BQ4 ’21: $7.7BQ4 ’21Q1 ’22: $6.6BQ2 ’22: $5.5BQ3 ’22: $5.1BQ4 ’22: $5.3BQ4 ’22Q1 ’23: $6.0BQ2 ’23: $6.3BQ3 ’23: $5.8BQ4 ’23: $6.7BQ4 ’23Q1 ’24: $6.9BQ2 ’24: $6.7BQ3 ’24: $7.4BQ4 ’24: $7.5BQ4 ’24Q1 ’25: $6.6BQ2 ’25: $6.8BQ3 ’25: $6.2BQ4 ’25: $5.9BQ4 ’25Q1 ’26: $5.0Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 94.7%Other: 5.3%REIT: 0.0%
  • Common Stock · 94.7% · $5.7B
  • Other · 5.3% · $314M
  • REIT · 0.0% · $220,732

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LINDE PLCNEW+2.7K2.7K+$954,356$954,356
DGIIDIGI INTL INCADDED+1.06M1.11M+$35M$37M
LSPDLIGHTSPEED COMMERCE INCSOLD OUT−291.5K0−$4M$0
LINDE PLCSOLD OUT−2.8K0−$901,888$0
TRUTRANSUNIONSOLD OUT−4.2K0−$239,485$0
QUALTRICS INTL INCSOLD OUT−17.4K0−$180,259$0
CLEARWATER ANALYTICS HLDGS IADDED+2.58M6.22M+$31M$99M
DHDEFINITIVE HEALTHCARE CORPADDED+1.99M5.46M+$18M$56M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2023

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CWSTCASELLA WASTE SYS INChistory →CL A4.23%$253M3.06M
2DSGDESCARTES SYS GROUP INChistory →COM4.06%$242M3.00M
3SPSCSPS COMM INChistory →COM4.04%$242M1.59M
4EXPOEXPONENT INChistory →COM4.02%$240M2.41M
51GSNNOVANTA INChistory →COM3.78%$226M1.42M
6AAONAAON INChistory →COM PAR $0.0043.60%$215M2.22M
7FSVFIRSTSERVICE CORP NEWhistory →COM3.19%$190M1.35M
8ALTREURALTAIR ENGR INChistory →COM CL A2.86%$171M2.37M
9RBCRBC BEARINGS INChistory →COM2.65%$158M680.2K
10MMSIMERIT MED SYS INChistory →COM2.59%$155M2.09M
11SSDSIMPSON MFG INChistory →COM2.53%$151M1.38M
12SITESITEONE LANDSCAPE SUPPLY INChistory →COM2.48%$148M1.08M
13ROADCONSTRUCTION PARTNERS INChistory →COM CL A2.37%$141M5.24M
14FOXFFOX FACTORY HLDG CORPhistory →COM2.24%$134M1.10M
15BCPCBALCHEM CORPhistory →COM2.22%$133M1.05M
16MRCYMERCURY SYS INChistory →COM2.15%$128M2.51M
17MODNEURMODEL N INChistory →COM2.13%$127M3.79M
18AXONAXON ENTERPRISE INChistory →COM2.08%$124M551.7K
19PAYCOR HCM INCCOM2.04%$122M4.60M
20RGENREPLIGEN CORPhistory →COM1.93%$115M685.4K
21NEOGNEOGEN CORPhistory →COM1.77%$106M5.70M
22HLIOHELIOS TECHNOLOGIES INChistory →COM1.72%$102M1.57M
23MLABMESA LABS INChistory →COM1.69%$101M578.5K
24JBTJOHN BEAN TECHNOLOGIES CORPhistory →COM1.69%$101M922.2K
25CLEARWATER ANALYTICS HLDGS ICL A1.66%$99M6.22M
26SLPSIMULATIONS PLUS INChistory →COM1.64%$98M2.22M
27LMATLEMAITRE VASCULAR INChistory →COM1.60%$95M1.85M
28WKWORKIVA INChistory →COM CL A1.59%$95M927.3K
29AQUAUSDEVOQUA WATER TECHNOLOGIES COhistory →COM1.58%$95M1.90M
30BLBLACKLINE INChistory →COM1.58%$95M1.41M
31ESEESCO TECHNOLOGIES INChistory →COM1.57%$94M980.6K
32STEVANATO GROUP S P AORD SHS1.53%$92M3.54M
33PROPROS HOLDINGS INChistory →COM1.48%$88M3.22M
34TREXTREX CO INChistory →COM1.48%$88M1.81M
35PLOWDOUGLAS DYNAMICS INChistory →COM1.41%$84M2.64M
36VCELVERICEL CORPhistory →COM1.17%$70M2.38M
37OMCLOMNICELL COMhistory →COM1.11%$66M1.13M
38TRNSTRANSCAT INChistory →COM1.09%$65M731.0K
39HLMNHILLMAN SOLUTIONS CORPhistory →COM1.05%$62M7.42M
40OFLXOMEGA FLEX INChistory →COM1.03%$61M549.3K
41VERXVERTEX INChistory →CL A1.01%$60M2.91M
42AZTAAZENTA INChistory →COM0.98%$58M1.31M
43DHDEFINITIVE HEALTHCARE CORPhistory →CLASS A COM0.94%$56M5.46M
44QTWOQ2 HLDGS INChistory →COM0.91%$55M2.22M
45WDFCWD 40 COhistory →COM0.88%$52M293.9K
46FICOFAIR ISAAC CORPhistory →COM0.65%$39M55.0K
47DGIIDIGI INTL INChistory →COM0.62%$37M1.11M
48NRCIAEURNATIONAL RESH CORPhistory →COM NEW0.53%$32M733.8K
49ROLROLLINS INChistory →COM0.53%$31M838.9K
50POOLPOOL CORPhistory →COM0.45%$27M77.8K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$5.0B114Apr 24, 202613F-HRchanges · EDGAR ↗
Q4 2025$5.9B121Feb 2, 202613F-HRchanges · EDGAR ↗
Q3 2025$6.2B122Oct 24, 202513F-HRchanges · EDGAR ↗
Q2 2025$6.8B122Jul 30, 202513F-HRchanges · EDGAR ↗
Q1 2025$6.6B123Apr 17, 202513F-HRchanges · EDGAR ↗
Q4 2024$7.5B124Jan 24, 202513F-HRchanges · EDGAR ↗
Q3 2024$7.4B121Oct 28, 202413F-HRchanges · EDGAR ↗
Q2 2024$6.7B130Jul 26, 202413F-HRchanges · EDGAR ↗
Q1 2024$6.9B131Apr 26, 202413F-HRchanges · EDGAR ↗
Q4 2023$6.7B131Jan 26, 202413F-HRchanges · EDGAR ↗
Q3 2023$5.8B128Oct 30, 202313F-HRchanges · EDGAR ↗
Q2 2023$6.3B126Jul 28, 202313F-HRchanges · EDGAR ↗
Q1 2023$6.0B129Apr 24, 202313F-HRchanges · EDGAR ↗
Q4 2022$5.3B132Feb 1, 202313F-HRchanges · EDGAR ↗
Q3 2022$5.1B135Oct 24, 202213F-HRchanges · EDGAR ↗
Q2 2022$5.5B139Jul 22, 202213F-HRchanges · EDGAR ↗
Q1 2022$6.6B139Apr 25, 202213F-HRchanges · EDGAR ↗
Q4 2021$7.7B144Jan 21, 202213F-HRchanges · EDGAR ↗
Q3 2021$7.2B145Oct 22, 202113F-HRchanges · EDGAR ↗
Q2 2021$6.9B144Jul 27, 202113F-HRchanges · EDGAR ↗
Q1 2021$6.6B141Apr 23, 202113F-HRchanges · EDGAR ↗
Q4 2020$6.3B145Jan 26, 202113F-HRchanges · EDGAR ↗
Q3 2020$5.0B143Oct 23, 202013F-HRchanges · EDGAR ↗
Q2 2020$4.6B146Aug 3, 202013F-HRchanges · EDGAR ↗
Q1 2020$3.4B140Apr 17, 202013F-HRchanges · EDGAR ↗
Q4 2019$4.2B145Jan 24, 202013F-HRchanges · EDGAR ↗
Q3 2019$3.9B141Oct 25, 201913F-HRchanges · EDGAR ↗
Q2 2019$4.0B143Aug 2, 201913F-HRchanges · EDGAR ↗
Q1 2019$3.6B144Apr 18, 201913F-HRchanges · EDGAR ↗
Q4 2018$3.1B126Jan 28, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.