SEC 13F Intelligence

Managers / Q1 2026

Montanaro Asset Management Ltd

CIK 0001831133 · MONTANARO ASSET MANAGEMENT LTD, 53 THREADNEEDLE STREET, LONDON, X0, EC2R 8AR · 0207 448 8600

Reported Value
$334M
Q1 2026
Positions
42
Filings on Record
22
2019–present window
Filed
May 11, 2026
original filing

Summary

Montanaro Asset Management Ltd reported $334M in U.S.-listed holdings across 42 positions for Q1 2026.

Its largest position, Nova, represents 6.3% of the portfolio.

Compared with Q3 2025, the fund opened 9 new positions and exited 8.

Portfolio Metrics

Turnover
+19.3%
vs prior filed quarter
Top-10 Concentration
+44.5%
share of reported value
Largest Position
+6.3%
Nova
New / Exited
9 / 8
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 ’20: $593MQ4 ’20Q1 ’21: $679MQ2 ’21: $795MQ3 ’21: $829MQ3 ’21Q4 ’21: $991MQ1 ’22: $811MQ2 ’22: $665MQ2 ’22Q3 ’22: $653MQ4 ’22: $614MQ1 ’23: $644MQ1 ’23Q2 ’23: $632MQ3 ’23: $568MQ4 ’23: $532MQ4 ’23Q1 ’24: $554MQ2 ’24: $536MQ3 ’24: $561MQ3 ’24Q4 ’24: $484MQ1 ’25: $341MQ2 ’25: $388MQ2 ’25Q3 ’25: $400MQ1 ’26: $334Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 85.7%Other: 10.1%REIT: 4.2%
  • Common Stock · 85.7% · $287M
  • Other · 10.1% · $34M
  • REIT · 4.2% · $14M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline) · note: prior filed quarter, not the immediately preceding one

IssuerMoveShare ΔShares nowValue ΔValue now
VMIVALMONT INDS INCNEW+19.4K19.4K+$8M$8M
WTSWATTS WATER TECHNOLOGIES INCNEW+26.5K26.5K+$8M$8M
HXLHEXCEL CORP NEWNEW+42.0K42.0K+$3M$3M
MDAMDA SPACE LTDNEW+134.1K134.1K+$3M$3M
SNEXSTONEX GROUP INCNEW+30.0K30.0K+$2M$2M
UTIUNIVERSAL TECHNICAL INST INCNEW+66.7K66.7K+$2M$2M
TTEKTETRA TECH INC NEWNEW+71.5K71.5K+$2M$2M
KNSLKINSALE CAP GROUP INCNEW+4.5K4.5K+$2M$2M

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

Holdings — Q1 2026

42 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NOVA LTDCOM6.25%$21M48.1K
2TECHBIO-TECHNE CORPhistory →COM5.33%$18M341.1K
3BCPCBALCHEM CORPhistory →COM5.00%$17M98.7K
4HLIHOULIHAN LOKEY INChistory →CL A4.22%$14M98.3K
5BSYBENTLEY SYS INChistory →COM CL B4.20%$14M400.3K
6EGPEASTGROUP PPTYS INChistory →COM4.19%$14M75.6K
7FSSFEDERAL SIGNAL CORPhistory →COM3.98%$13M123.1K
8CSWCSW INDUSTRIALS INChistory →COM3.88%$13M49.8K
9EXPOEXPONENT INChistory →COM3.74%$13M191.8K
10AWCAMERICAN WTR WKS CO INC NEWhistory →COM3.66%$12M89.8K
11LRNSTRIDE INChistory →COM3.30%$11M125.3K
12ROLROLLINS INChistory →COM3.24%$11M203.0K
13MANHMANHATTAN ASSOCIATES INChistory →COM3.16%$11M79.3K
14FABRINETSHS3.12%$10M20.0K
15ENQENTEGRIS INChistory →COM2.87%$10M81.9K
16TYLTYLER TECHNOLOGIES INChistory →COM2.80%$9M27.3K
17GGGGRACO INChistory →COM2.78%$9M110.0K
18HWKNHAWKINS INChistory →COM2.75%$9M59.8K
19FCNFTI CONSULTING INChistory →COM2.64%$9M50.0K
20SITMSITIME CORPhistory →COM2.58%$9M25.0K
21MSCIMSCI INChistory →COM2.52%$8M15.7K
22TMDXTRANSMEDICS GROUP INChistory →COM2.34%$8M78.7K
23VMIVALMONT INDS INChistory →COM2.32%$8M19.4K
24WTSWATTS WATER TECHNOLOGIES INChistory →CL A2.30%$8M26.5K
25VEEVVEEVA SYS INChistory →CL A COM1.89%$6M36.0K
26TWTRADEWEB MKTS INChistory →CL A1.87%$6M53.1K
27ALRMALARM COM HLDGS INChistory →COM1.83%$6M141.7K
28MIRMIRION TECHNOLOGIES INChistory →COM CL A1.70%$6M305.3K
29HQYHEALTHEQUITY INChistory →COM1.27%$4M50.8K
30HXLHEXCEL CORP NEWhistory →COM1.02%$3M42.0K
31MDAMDA SPACE LTDhistory →COM1.02%$3M134.1K
32TRNSTRANSCAT INCCOM0.88%$3M40.0K
33SNEXSTONEX GROUP INCCOM0.72%$2M30.0K
34UTIUNIVERSAL TECHNICAL INST INCCOM0.72%$2M66.7K
35STEVANATO GROUP S P AORD SHS0.72%$2M175.0K
36BRBRBELLRING BRANDS INCCOMMON STOCK0.67%$2M140.0K
37TTEKTETRA TECH INC NEWCOM0.64%$2M71.5K
38KNSLKINSALE CAP GROUP INCCOM0.46%$2M4.5K
39WMSADVANCED DRAIN SYS INC DELCOM0.44%$1M10.8K
40BMIBADGER METER INCCOM0.33%$1M7.3K
41DOCSDOXIMITY INCCL A0.32%$1M45.3K
42CLHCLEAN HARBORS INCCOM0.31%$1M3.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$334M42May 11, 202613F-HRchanges · EDGAR ↗
Q3 2025$400M41Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$388M39Aug 5, 202513F-HRchanges · EDGAR ↗
Q1 2025$341M46May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$484M47Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$561M47Nov 4, 202413F-HRchanges · EDGAR ↗
Q2 2024$536M46Jul 30, 202413F-HRchanges · EDGAR ↗
Q1 2024$554M44May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$532M43Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023$568M45Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$632M45Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$644M45Apr 18, 202313F-HRchanges · EDGAR ↗
Q4 2022$614M47Feb 8, 202313F-HRchanges · EDGAR ↗
Q3 2022$653M48Nov 9, 202213F-HRchanges · EDGAR ↗
Q2 2022$665M48Aug 5, 202213F-HRchanges · EDGAR ↗
Q1 2022$811M45May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$991M48Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$829M47Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$795M53Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$679M43May 12, 202113F-HRchanges · EDGAR ↗
Q4 2020$593M40Feb 16, 202113F-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 ↗.