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Conestoga Capital Advisors, LLC
Conestoga Capital Advisors, LLC is an SEC-registered investment advisory firm headquartered in Wayne, Pennsylvania. Founded in 2001, the firm specializes in managing growth equity portfolios for institutional and individual investors. Serving clients across the U.S., Conestoga is known for utilizing a disciplined investment process and offers services to a range of investors including endowments, foundations, pension plans, and high-net-worth individuals. As of January 2025, the firm employs approximately 18 people.
Investment Strategy
Conestoga Capital Advisors employs a bottom-up, fundamental research-driven approach to identify high-quality growth companies with sustainable competitive advantages and strong management teams. The firm focuses primarily on small- and mid-cap U.S. equities and aims for long-term capital appreciation while managing risk through a concentrated portfolio structure. Its investment philosophy emphasizes long holding periods and deep due diligence to identify companies poised for above-average growth.
Latest 13F Filing Activity
Conestoga Capital Advisors, LLC filed their most recent 13F report on Jun 30, 2025 disclosing 119 equity positions with a total 13F market value of $7B. The fund increased holdings in Bright Horizons Fam Sol in D, Ul Solutions Inc., Federal Signal Corp. among other positions. Conestoga Capital Advisors, LLC reduced exposure to Neogen Corp., Simulations Plus Inc., Clearwater Analytics HLDGS I among others.
Top Holdings
Equity Positions (119)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
C CWST | CASELLA WASTE SYS INC | 4.57% | $309.2M | 2,680,114 | $55.68 | $115.38 | -$11.9M |
R ROAD | CONSTRUCTION PARTNERS INC | 4.14% | $279.9M | 2,633,558 | $18.88 | $106.28 | +$31.6M |
D DSGX | DESCARTES SYS GROUP INC | 4.04% | $273.2M | 2,687,949 | $38.63 | $101.65 | -$7.0M |
R RBC | RBC BEARINGS INC | 3.63% | $245.4M | 637,746 | $158.23 | $384.80 | +$10.4M |
F FSV | FIRSTSERVICE CORP NEW | 3.62% | $244.9M | 1,402,540 | $108.27 | $174.62 | +$5.3M |
Industry Allocation
Investment Team (11)
| Name | Role | Location | |
|---|---|---|---|
 | Managing Partner | Wayne, PA , United States | |
| Managing Partner | Flourtown, PA , United States | ||
D David Neiderer | Co-Portfolio Manager, Micro Cap Growth | Berwyn, PA , United States | |
D Derek Johnston | Co-Portfolio Manager, Smid Cap Growth | Wayne, PA , United States | |
J Joe Monahan | Managing Director | Doylestown, PA , United States | |
 | Equity Analyst | Norristown, PA , United States | |
M Mark Clewett | Managing Partner - President | Malvern, PA , United States | |
 | Co-Portfolio Manager, Mid Cap Growth and Equity Analyst | Wayne, PA , United States | |
 | Equity Research Analyst | New York, NY , United States | |
 | Jr Research Analyst | Philadelphia, PA , United States |
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