SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Conestoga Capital Advisors, LLC

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

Reported Value
$6.7B
Q4 2023
Positions
131
Filings on Record
30
2019–present window
Filed
Jan 26, 2024
original filing

Summary

Conestoga Capital Advisors, LLC reported $6.7B in U.S.-listed holdings across 131 positions for Q4 2023.

Its largest position, SSD, represents 4.1% of the portfolio.

Compared with Q3 2023, the fund opened 3 new positions and exited 0.

Portfolio Metrics

Turnover
+1.5%
vs prior filed quarter
Top-10 Concentration
+35.3%
share of reported value
Largest Position
+4.1%
Simpson Mfg

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: 94.6%Other: 5.4%
  • Common Stock · 94.6% · $6.3B
  • Other · 5.4% · $359M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CCCCCC INTELLIGENT SOLUTIONS HLNEW+1.01M1.01M+$11M$11M
MSAMSA SAFETY INCNEW+58.9K58.9K+$10M$10M
IRMDIRADIMED CORPNEW+15.8K15.8K+$749,077$749,077
CSWCSW INDUSTRIALS INCADDED+179.0K398.7K+$44M$83M
BSYBENTLEY SYS INCADDED+1.9K6.3K+$110,337$330,038
FICOFAIR ISAAC CORPTRIMMED−21.7K30.6K−$10M$36M
WTRGESSENTIAL UTILS INCADDED+3.1K13.1K+$147,662$488,799
STERIS PLCADDED+5752.6K+$127,301$580,184

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

Holdings — Q4 2023

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SSDSIMPSON MFG INChistory →COM4.08%$272M1.37M
2CWSTCASELLA WASTE SYS INChistory →CL A3.91%$261M3.05M
3SPSCSPS COMM INChistory →COM3.91%$261M1.34M
4DSGDESCARTES SYS GROUP INChistory →COM3.82%$254M3.03M
5AAONAAON INChistory →COM PAR $0.0043.72%$248M3.35M
6FSVFIRSTSERVICE CORP NEWhistory →COM3.33%$222M1.37M
71GSNNOVANTA INChistory →COM3.25%$217M1.29M
8EXPOEXPONENT INChistory →COM3.24%$216M2.45M
9ALTREURALTAIR ENGR INChistory →COM CL A3.06%$204M2.42M
10RBCRBC BEARINGS INChistory →COM2.97%$198M695.5K
11ROADCONSTRUCTION PARTNERS INChistory →COM CL A2.97%$198M4.54M
12SITESITEONE LANDSCAPE SUPPLY INChistory →COM2.69%$179M1.10M
13MMSIMERIT MED SYS INChistory →COM2.45%$163M2.15M
14BCPCBALCHEM CORPhistory →COM2.42%$161M1.08M
15TREXTREX CO INChistory →COM2.34%$156M1.89M
16NEOGNEOGEN CORPhistory →COM2.06%$137M6.82M
17AXONAXON ENTERPRISE INChistory →COM2.05%$137M529.5K
18CLEARWATER ANALYTICS HLDGS ICL A1.93%$129M6.43M
19RGENREPLIGEN CORPhistory →COM1.91%$128M709.7K
20PROPROS HOLDINGS INChistory →COM1.89%$126M3.25M
21STEVANATO GROUP S P AORD SHS1.87%$124M4.56M
22ESEESCO TECHNOLOGIES INChistory →COM1.80%$120M1.02M
23LMATLEMAITRE VASCULAR INChistory →COM1.64%$109M1.93M
24FSSFEDERAL SIGNAL CORPhistory →COM1.55%$104M1.35M
25PAYCOR HCM INCCOM1.55%$103M4.79M
26MODNEURMODEL N INChistory →COM1.55%$103M3.82M
27SLPSIMULATIONS PLUS INChistory →COM1.52%$101M2.26M
28WKWORKIVA INChistory →COM CL A1.45%$97M952.7K
29QTWOQ2 HLDGS INChistory →COM1.44%$96M2.20M
30DGIIDIGI INTL INChistory →COM1.40%$93M3.59M
31JBTJOHN BEAN TECHNOLOGIES CORPhistory →COM1.37%$92M920.3K
32HLIOHELIOS TECHNOLOGIES INChistory →COM1.37%$91M2.01M
33MRCYMERCURY SYS INChistory →COM1.34%$90M2.45M
34BLBLACKLINE INChistory →COM1.33%$88M1.41M
35HLMNHILLMAN SOLUTIONS CORPhistory →COM1.27%$85M9.18M
36AZTAAZENTA INChistory →COM1.26%$84M1.29M
37TRNSTRANSCAT INChistory →COM1.25%$83M762.9K
38VCELVERICEL CORPhistory →COM1.25%$83M2.34M
39CSWCSW INDUSTRIALS INChistory →COM1.24%$83M398.7K
40FOXFFOX FACTORY HLDG CORPhistory →COM1.15%$77M1.13M
41VERXVERTEX INChistory →CL A1.15%$76M2.83M
42WDFCWD 40 COhistory →COM1.13%$75M314.4K
43PLOWDOUGLAS DYNAMICS INChistory →COM0.98%$65M2.19M
44MLABMESA LABS INChistory →COM0.91%$61M578.5K
45DHDEFINITIVE HEALTHCARE CORPhistory →CLASS A COM0.82%$55M5.52M
46FICOFAIR ISAAC CORPhistory →COM0.53%$36M30.6K
47ROLROLLINS INChistory →COM0.53%$35M811.1K
48WSOWATSCO INChistory →COM0.50%$33M77.0K
49NRCIAEURNATIONAL RESH CORPhistory →COM NEW0.46%$31M780.8K
50POOLPOOL CORPhistory →COM0.46%$31M76.7K

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 ↗.