Conestoga Capital Advisors, LLC

Name: Conestoga Capital Advisors, LLC 13F holdings, Q3 2025
Creator: Conestoga Capital Advisors, LLC
Published: 2025-10-24

Q2 2026Q1 2026Q4 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Conestoga Capital Advisors, LLC reported 122 stock positions worth $6.2 billion. Its top holding was Casella Waste Systems Class A (CWST) at 4.4% of the portfolio, followed by Construction Partners Class A (ROAD, 4.3%) and Descartes Systems Grp (DSGX, 4.0%). Compared with Q2 2025, it opened 4 new positions, sold out of 4, added to 35 and reduced 68. The biggest buy was a new position in Mirion Technologies (MIR) and the biggest sale Vertex Class A (VERX, shares −25%).

Most Recent 13F: Q2 2026
Location: WAYNE, PA
CIK: 0001163744
Portfolio Value: $6.2B (Q3 2025)
SEC Filing: 0001163744-25-000002 ↗ filed Oct 24, 2025

Holdings Value

Holdings 122 stocks · $6.2B


CWST Casella Waste Systems Inc. Class A	4.38%	2,876,061	$272.9M	Add +7.3%
ROAD Construction Partners Inc. Class A	4.34%	2,131,852	$270.7M	Reduce -19.1%
DSGX The Descartes Systems Grp	3.99%	2,635,476	$248.3M	Reduce -1.9%
RBC RBC Bearings Inc.	3.92%	625,943	$244.3M	Reduce -1.9%
FSV Firstservice Corp.	3.74%	1,223,287	$233.0M	Reduce -12.8%
STVN Stevanato Group SPA	3.35%	8,094,965	$208.4M	Reduce -0.4%
BCPC Balchem Corp.	3.07%	1,272,778	$191.0M	Add +10.9%
ESE Esco Technologies Inc.	2.96%	873,219	$184.3M	Reduce -14.1%
MMSI Merit Medical Systems Inc.	2.92%	2,185,265	$181.9M	Reduce -1.2%
MRCY Mercury Systems Inc.	2.83%	2,279,909	$176.5M	Reduce -10.9%
EXPO Exponent Inc.	2.63%	2,361,196	$164.1M	Reduce -12.7%
AAON Aaon Inc.	2.54%	1,691,320	$158.0M	Reduce -9.0%
SSD Simpson Manufacturing Co. Inc.	2.37%	882,361	$147.8M	Reduce -20.0%
SITE Siteone Landscape Supply Inc.	2.37%	1,146,082	$147.6M	Reduce -1.2%
SPXC SPX Technologies Inc.	2.33%	776,786	$145.1M	Reduce -2.3%
NOVT Novanta Inc.	2.27%	1,410,719	$141.3M	Reduce -10.7%
CSW CSW Industrials Inc.	2.26%	578,891	$140.5M	Reduce -2.3%
QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC	2.24%	1,925,996	$139.4M	Reduce -0.1%
LMAT Lemaitre Vascular Inc.	2.21%	1,574,688	$137.8M	Reduce -1.8%
SPSC SPS Commerce Inc.	2.14%	1,281,511	$133.5M	Add +2.5%
MSA Msa Safety Inc.	2.12%	767,629	$132.1M	Reduce -2.2%
FSS Federal Signal Corp.	2.10%	1,098,563	$130.7M	Reduce -18.8%
RGEN Repligen Corp.	2.05%	956,913	$127.9M	Reduce -2.0%
DGII Digi International Inc.	2.00%	3,415,734	$124.5M	Reduce -3.8%
CWAN Clearwater Analytics HDS-A	1.94%	6,710,904	$120.9M	Add +0.3%
BL Blackline Inc.	1.76%	2,066,770	$109.7M	Reduce -0.6%
TREX Trex Company Inc.	1.57%	1,894,949	$97.9M	Reduce -5.1%
CCC CCC Intelligent Solutions Ho	1.55%	10,623,881	$96.8M	Reduce -26.8%
BFAM Bright Horizons Family Solut	1.53%	880,580	$95.6M	Add +2.6%
HLIO Helios Technologies Inc.	1.39%	1,660,024	$86.5M	Reduce -15.1%
WK Workiva Inc.	1.38%	996,187	$85.8M	Reduce -14.9%
ULS Ul Solutions Inc. Class A	1.29%	1,136,679	$80.5M	Reduce -2.8%
TRNS Transcat Inc.	1.15%	974,736	$71.4M	Reduce -10.4%
AGYS Agilysys Inc.	1.11%	655,779	$69.0M	Reduce -10.4%
VCEL Vericel Corp.	1.10%	2,175,284	$68.5M	Reduce -11.7%
CXT Crane NXT Co.	1.05%	973,812	$65.3M	Reduce -2.1%
ROL Rollins Inc.	1.02%	1,077,448	$63.3M	Reduce -0.4%
VERX Vertex Inc. Class A	1.01%	2,543,000	$63.0M	Reduce -25.2%
NCNO Ncino Inc.	0.99%	2,275,238	$61.7M	Reduce -14.8%
WDFC WD-40 Co.	0.98%	310,604	$61.4M	Reduce -2.7%
HEI.A Heico Corp. Class A	0.94%	229,960	$58.4M	Add +0.6%
GWRE Guidewire Software Inc.	0.92%	249,799	$57.4M	Add +0.5%
HLMN Hillman Solutions Corp.	0.81%	5,483,883	$50.3M	Reduce -25.5%
KAI Kadant Inc.	0.81%	168,698	$50.2M	Reduce -24.0%
TYL Tyler Technologies Inc.	0.79%	94,110	$49.2M	Reduce -0.3%
AZTA Azenta Inc.	0.68%	1,467,996	$42.2M	Reduce -23.5%
GGG Graco Inc.	0.63%	463,812	$39.4M	Reduce -0.3%
POOL Pool Corp.	0.61%	123,409	$38.3M	Reduce -7.8%
WSO Watsco Inc.	0.61%	94,449	$38.2M	Reduce -10.6%
MIR Mirion Technologies Inc.	0.50%	1,351,785	$31.4M	New
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC	0.48%	202,582	$30.2M	Add +0.5%
MLAB Mesa Laboratories Inc.	0.46%	426,457	$28.6M	Reduce -24.7%
WST West Pharmaceutical Services	0.42%	100,783	$26.4M	Reduce -6.6%
EVI Evi Industries Inc.	0.41%	806,670	$25.5M	Reduce -3.2%
JBTM JBT Marel Corp.	0.39%	173,566	$24.4M	Add +0.6%
PCOR Procore Technologies Inc.	0.37%	312,712	$22.8M	Reduce -7.3%
PCTY Paylocity Holding Corp.	0.32%	125,863	$20.0M	Add +0.7%
GNRC Generac Holdings Inc.	0.32%	119,725	$20.0M	Reduce -25.4%
TECH Bio-Techne Corp.	0.27%	305,483	$17.0M	Reduce -8.0%
LCII Lci Industries	0.26%	171,564	$16.0M	Reduce -2.3%
PL Planet Labs PBC	0.05%	246,235	$3.2M	Reduce -42.4%
UTI Universal Technical Institut	0.04%	83,170	$2.7M	Add +21.0%
MAMA Mama's Creations Inc.	0.04%	229,240	$2.4M	Add +0.0%
BWMN Bowman Consulting Group Ltd.	0.04%	56,095	$2.4M	Reduce -0.9%
IIIV I3 Verticals Inc. Class A	0.04%	69,552	$2.3M	Reduce -0.3%
WLDN Willdan Group Inc.	0.04%	22,738	$2.2M	Reduce -48.4%
PLMR Palomar Holdings Inc.	0.03%	17,585	$2.1M	Add +63.1%
ERII Energy Recovery Inc.	0.03%	130,370	$2.0M	Add +16.0%
IRMD Iradimed Corp.	0.03%	27,375	$1.9M	Reduce -0.3%
COCO The Vita Coco Co. Inc.	0.03%	45,550	$1.9M	Reduce -0.0%
BLFS Biolife Solutions Inc.	0.03%	75,502	$1.9M	Add +16.1%
ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP	0.03%	69,680	$1.9M	Reduce -20.9%
TKNO Alpha Teknova Inc.	0.03%	308,939	$1.9M	Add +60.7%
PHR Phreesia Inc.	0.03%	76,520	$1.8M	Reduce -1.2%
NABL N-Able Inc.	0.03%	208,845	$1.6M	Add +15.5%
TCYSF Tecsys Inc.	0.03%	63,520	$1.6M	Reduce -0.3%
TWST Twist Bioscience Corp.	0.03%	55,600	$1.6M	Add +95.8%
TIC Tic Solutions Inc. filed as ACUREN CORP	0.02%	106,021	$1.4M	Add +24.8%
MSFT Microsoft Corp.	0.02%	2,702	$1.4M	Reduce -0.2%
VRSK Verisk Analytics Inc.	0.02%	5,460	$1.4M	No change
CSGP Costar Group Inc.	0.02%	15,540	$1.3M	Add +0.3%
USPH U.S. Physical Therapy Inc.	0.02%	14,910	$1.3M	Reduce -0.4%
CLMB Climb Global Solutions Inc.	0.02%	8,975	$1.2M	New
KIDS Orthopediatrics Corp.	0.02%	63,395	$1.2M	Reduce -4.8%
WCN Waste Connections Inc.	0.02%	6,464	$1.1M	No change
SSTI Soundthinking Inc.	0.02%	91,603	$1.1M	Add +22.0%
IDXX Idexx Laboratories Inc.	0.02%	1,689	$1.1M	Add +0.3%
CYRX Cryoport Inc.	0.02%	105,189	$997K	Reduce -4.9%
COST Costco Wholesale Corp.	0.02%	1,055	$977K	Reduce -0.5%
VEEV Veeva Systems Inc. Class A	0.01%	3,079	$917K	Add +0.7%
FAST Fastenal Co.	0.01%	18,155	$890K	Reduce -1.8%
ROP Roper Technologies Inc.	0.01%	1,744	$870K	Add +0.3%
CPRT Copart Inc.	0.01%	19,006	$855K	Add +0.5%
TSCO Tractor Supply Company	0.01%	13,210	$751K	Add +0.5%
SPGI S&P Global Inc.	0.01%	1,496	$728K	No change
GOOGL Alphabet Inc. Class A	0.01%	2,945	$716K	Reduce -0.7%
XYL Xylem Inc.	0.01%	4,849	$715K	Add +0.4%
STE Steris PLC	0.01%	2,539	$628K	Add +0.6%
FTNT Fortinet Inc.	0.01%	7,213	$606K	Add +0.6%
MA Mastercard Inc. Class A	0.01%	1,055	$600K	No change

Show all 122 holdings

Portfolio Sells Q2 2025 → Q3 2025


VERX Vertex Inc. Class A	Reduce -25.2%	1.01%	−0.76
NOVT Novanta Inc.	Reduce -10.7%	2.27%	−0.74
CCC CCC Intelligent Solutions Ho	Reduce -26.8%	1.55%	−0.47
VCEL Vericel Corp.	Reduce -11.7%	1.10%	−0.45
QTWO Q2 Holdings Inc.	Reduce -0.1%	2.24%	−0.43
EXPO Exponent Inc.	Reduce -12.7%	2.63%	−0.35
SLP Simulations Plus Inc.	Sold out	0.00%	−0.33
MLAB Mesa Laboratories Inc.	Reduce -24.7%	0.46%	−0.33
CSW CSW Industrials Inc.	Reduce -2.3%	2.26%	−0.26
TRNS Transcat Inc.	Reduce -10.4%	1.15%	−0.24
KAI Kadant Inc.	Reduce -24.0%	0.81%	−0.24
AZTA Azenta Inc.	Reduce -23.5%	0.68%	−0.20
SSD Simpson Manufacturing Co. Inc.	Reduce -20.0%	2.37%	−0.16
MMSI Merit Medical Systems Inc.	Reduce -1.2%	2.92%	−0.14
AGYS Agilysys Inc.	Reduce -10.4%	1.11%	−0.13
NCNO Ncino Inc.	Reduce -14.8%	0.99%	−0.11
WDFC WD-40 Co.	Reduce -2.7%	0.98%	−0.09
WSO Watsco Inc.	Reduce -10.6%	0.61%	−0.08
DSGX The Descartes Systems Grp	Reduce -1.9%	3.99%	−0.05
TYL Tyler Technologies Inc.	Reduce -0.3%	0.79%	−0.04
TREX Trex Company Inc.	Reduce -5.1%	1.57%	−0.03
FSS Federal Signal Corp.	Reduce -18.8%	2.10%	−0.03
OLO Olo Inc. Class A	Sold out	0.00%	−0.03
GNRC Generac Holdings Inc.	Reduce -25.4%	0.32%	−0.02
ANSS Ansys Inc.	Sold out	0.00%	−0.01
THBRF Thunderbird Entertainment GR	Reduce -48.1%	0.01%	−0.01
FDS Factset Research Systems Inc.	Sold out	0.00%	−0.01
WLDN Willdan Group Inc.	Reduce -48.4%	0.04%	−0.01
PHR Phreesia Inc.	Reduce -1.2%	0.03%	−0.00
KIDS Orthopediatrics Corp.	Reduce -4.8%	0.02%	−0.00
AXON Axon Enterprise Inc.	Reduce -11.2%	0.00%	−0.00
TCYSF Tecsys Inc.	Reduce -0.3%	0.03%	−0.00
COST Costco Wholesale Corp.	Reduce -0.5%	0.02%	+0.00
ONT Onterris Inc.	Reduce -20.9%	0.03%	+0.00
MSFT Microsoft Corp.	Reduce -0.2%	0.02%	+0.00
GOOG Alphabet Inc. Class C	Reduce -0.9%	0.01%	+0.00
FAST Fastenal Co.	Reduce -1.8%	0.01%	+0.00
USPH U.S. Physical Therapy Inc.	Reduce -0.4%	0.02%	+0.00
GOOGL Alphabet Inc. Class A	Reduce -0.7%	0.01%	+0.00
CYRX Cryoport Inc.	Reduce -4.9%	0.02%	+0.00
COCO The Vita Coco Co. Inc.	Reduce -0.0%	0.03%	+0.01
IRMD Iradimed Corp.	Reduce -0.3%	0.03%	+0.01
IIIV I3 Verticals Inc. Class A	Reduce -0.3%	0.04%	+0.01
PL Planet Labs PBC	Reduce -42.4%	0.05%	+0.01
BWMN Bowman Consulting Group Ltd.	Reduce -0.9%	0.04%	+0.01
LCII Lci Industries	Reduce -2.3%	0.26%	+0.02
TECH Bio-Techne Corp.	Reduce -8.0%	0.27%	+0.02
BL Blackline Inc.	Reduce -0.6%	1.76%	+0.02
PCOR Procore Technologies Inc.	Reduce -7.3%	0.37%	+0.02
HLMN Hillman Solutions Corp.	Reduce -25.5%	0.81%	+0.03

Portfolio Buys Q2 2025 → Q3 2025


MIR Mirion Technologies Inc.	New	0.50%	+0.50
BCPC Balchem Corp.	Add +10.9%	3.07%	+0.37
JBTM JBT Marel Corp.	Add +0.6%	0.39%	+0.08
HEI.A Heico Corp. Class A	Add +0.6%	0.94%	+0.06
GWRE Guidewire Software Inc.	Add +0.5%	0.92%	+0.06
CLMB Climb Global Solutions Inc.	New	0.02%	+0.02
TKNO Alpha Teknova Inc.	Add +60.7%	0.03%	+0.02
ERII Energy Recovery Inc.	Add +16.0%	0.03%	+0.01
MAMA Mama's Creations Inc.	Add +0.0%	0.04%	+0.01
BLFS Biolife Solutions Inc.	Add +16.1%	0.03%	+0.01
TWST Twist Bioscience Corp.	Add +95.8%	0.03%	+0.01
UTI Universal Technical Institut	Add +21.0%	0.04%	+0.01
PLMR Palomar Holdings Inc.	Add +63.1%	0.03%	+0.01
SNPS Synopsys Inc.	New	0.01%	+0.01
NABL N-Able Inc.	Add +15.5%	0.03%	+0.00
IDXX Idexx Laboratories Inc.	Add +0.3%	0.02%	+0.00
SSTI Soundthinking Inc.	Add +22.0%	0.02%	+0.00
SJM The JM Smucker Co.	New	0.00%	+0.00
CSGP Costar Group Inc.	Add +0.3%	0.02%	+0.00
XYL Xylem Inc.	Add +0.4%	0.01%	+0.00
TSCO Tractor Supply Company	Add +0.5%	0.01%	+0.00
VEEV Veeva Systems Inc. Class A	Add +0.7%	0.01%	+0.00
NVDA Nvidia Corp.	Add +2.0%	0.00%	+0.00
STE Steris PLC	Add +0.6%	0.01%	+0.00
NET Cloudflare Inc. Class A	Add +0.9%	0.01%	+0.00
BSY Bentley Systems Inc. Class B	Add +0.7%	0.01%	+0.00
CPRT Copart Inc.	Add +0.5%	0.01%	0.00
ODFL Old Dominion Freight Line	Add +0.9%	0.01%	−0.00
ROP Roper Technologies Inc.	Add +0.3%	0.01%	−0.00
FICO Fair Isaac Corp.	Add +0.8%	0.01%	−0.00
FTNT Fortinet Inc.	Add +0.6%	0.01%	−0.00
TIC Tic Solutions Inc.	Add +24.8%	0.02%	−0.00
IT Gartner Inc.	Add +0.6%	0.01%	−0.00
PCTY Paylocity Holding Corp.	Add +0.7%	0.32%	−0.01
BFAM Bright Horizons Family Solut	Add +2.6%	1.53%	−0.03
JKHY Jack Henry & Associates Inc.	Add +0.5%	0.48%	−0.05
CWST Casella Waste Systems Inc. Class A	Add +7.3%	4.38%	−0.19
CWAN Clearwater Analytics HDS-A	Add +0.3%	1.94%	−0.23
SPSC SPS Commerce Inc.	Add +2.5%	2.14%	−0.37

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	109	$4.6B	CWST, RBC, NOVT, BCPC, MRCY
Q1 2026	114	$5.0B	RBC, CWST, BCPC, FSV, ROAD
Q4 2025	121	$5.9B	CWST, RBC, DSGX, ROAD, CSW
Q3 2025	122	$6.2B	CWST, ROAD, DSGX, RBC, FSV
Q2 2025	122	$6.8B	CWST, ROAD, DSGX, RBC, FSV
Q1 2025	123	$6.6B	CWST, DSGX, ROAD, FSV, MMSI
Q4 2024	124	$7.5B	DSGX, CWST, ROAD, FSV, EXPO
Q3 2024	121	$7.4B	DSGX, EXPO, CWST, SSD, FSV
Q2 2024	130	$6.7B	CWST, DSGX, EXPO, ALTR, SSD
Q1 2024	131	$6.9B	CWST, SSD, DSGX, FSV, NOVT