Conestoga Capital Advisors, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Conestoga Capital Advisors, LLC reported 121 stock positions worth $5.9 billion. Its top holding was Casella Waste Systems Class A (CWST) at 4.6% of the portfolio, followed by RBC Bearings (RBC, 4.4%) and Descartes Systems Grp (DSGX, 3.7%). Compared with Q3 2025, it opened 5 new positions, sold out of 6, added to 49 and reduced 62. The biggest buy was CSW Industrials (CSW, shares +9%) and the biggest sale an exit from Trex (TREX).
- Most Recent 13F
- Q2 2026
- Location
- WAYNE, PA
- CIK
- 0001163744
- Portfolio Value
- $5.9B (Q4 2025)
- SEC Filing
- 0001163744-26-000017 ↗ filed Feb 2, 2026
Holdings Value
Holdings 121 stocks · $5.9B
| CWST Casella Waste Systems Inc. Class A | 4.58% | 2,777,327 | $272.0M | Reduce -3.4% |
| RBC RBC Bearings Inc. | 4.41% | 584,410 | $262.1M | Reduce -6.6% |
| DSGX The Descartes Systems Grp | 3.70% | 2,508,569 | $219.9M | Reduce -4.8% |
| ROAD Construction Partners Inc. Class A | 3.70% | 2,025,002 | $219.8M | Reduce -5.0% |
| CSW CSW Industrials Inc. | 3.13% | 633,255 | $185.9M | Add +9.4% |
| BCPC Balchem Corp. | 3.11% | 1,204,319 | $184.7M | Reduce -5.4% |
| MMSI Merit Medical Systems Inc. | 3.09% | 2,086,483 | $183.9M | Reduce -4.5% |
| FSV Firstservice Corp. | 3.07% | 1,172,521 | $182.4M | Reduce -4.2% |
| NOVT Novanta Inc. | 2.92% | 1,458,259 | $173.5M | Add +3.4% |
| RGEN Repligen Corp. | 2.92% | 1,057,975 | $173.4M | Add +10.6% |
| EXPO Exponent Inc. | 2.80% | 2,392,499 | $166.2M | Add +1.3% |
| MRCY Mercury Systems Inc. | 2.67% | 2,174,807 | $158.8M | Reduce -4.6% |
| STVN Stevanato Group SPA | 2.67% | 7,889,701 | $158.7M | Reduce -2.5% |
| SPXC SPX Technologies Inc. | 2.55% | 758,400 | $151.7M | Reduce -2.4% |
| ESE Esco Technologies Inc. | 2.55% | 775,596 | $151.5M | Reduce -11.2% |
| CWAN Clearwater Analytics HDS-A | 2.48% | 6,097,771 | $147.1M | Reduce -9.1% |
| SSD Simpson Manufacturing Co. Inc. | 2.31% | 849,350 | $137.1M | Reduce -3.7% |
| AAON Aaon Inc. | 2.28% | 1,776,013 | $135.4M | Add +5.0% |
| SITE Siteone Landscape Supply Inc. | 2.25% | 1,075,017 | $133.9M | Reduce -6.2% |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 2.24% | 1,847,501 | $133.3M | Reduce -4.1% |
| DGII Digi International Inc. | 2.15% | 2,955,793 | $128.0M | Reduce -13.5% |
| MSA Msa Safety Inc. | 2.02% | 751,172 | $120.3M | Reduce -2.1% |
| LMAT Lemaitre Vascular Inc. | 1.94% | 1,424,988 | $115.6M | Reduce -9.5% |
| BFAM Bright Horizons Family Solut | 1.88% | 1,100,803 | $111.6M | Add +25.0% |
| FSS Federal Signal Corp. | 1.83% | 1,000,084 | $108.6M | Reduce -9.0% |
| BL Blackline Inc. | 1.72% | 1,848,997 | $102.2M | Reduce -10.5% |
| CCC CCC Intelligent Solutions Ho | 1.68% | 12,530,897 | $99.6M | Add +17.9% |
| WK Workiva Inc. | 1.57% | 1,083,243 | $93.4M | Add +8.7% |
| HLIO Helios Technologies Inc. | 1.40% | 1,552,064 | $83.0M | Reduce -6.5% |
| ULS Ul Solutions Inc. Class A | 1.39% | 1,046,576 | $82.5M | Reduce -7.9% |
| VCEL Vericel Corp. | 1.37% | 2,254,562 | $81.2M | Add +3.6% |
| NCNO Ncino Inc. | 1.23% | 2,861,024 | $73.4M | Add +25.8% |
| AGYS Agilysys Inc. | 1.20% | 598,141 | $71.1M | Reduce -8.8% |
| ROL Rollins Inc. | 1.14% | 1,130,355 | $67.8M | Add +4.9% |
| KAI Kadant Inc. | 1.04% | 216,204 | $61.6M | Add +28.2% |
| WDFC WD-40 Co. | 0.98% | 296,847 | $58.4M | Reduce -4.4% |
| SPSC SPS Commerce Inc. | 0.96% | 642,804 | $57.3M | Reduce -49.8% |
| TRNS Transcat Inc. | 0.90% | 943,437 | $53.5M | Reduce -3.2% |
| GWRE Guidewire Software Inc. | 0.88% | 259,598 | $52.2M | Add +3.9% |
| VERX Vertex Inc. Class A | 0.84% | 2,506,653 | $50.1M | Reduce -1.4% |
| HLMN Hillman Solutions Corp. | 0.83% | 5,714,463 | $49.5M | Add +4.2% |
| TYL Tyler Technologies Inc. | 0.82% | 107,466 | $48.8M | Add +14.2% |
| HEI.A Heico Corp. Class A | 0.80% | 188,668 | $47.6M | Reduce -18.0% |
| CXT Crane NXT Co. | 0.78% | 979,422 | $46.1M | Add +0.6% |
| MIR Mirion Technologies Inc. | 0.76% | 1,938,849 | $45.4M | Add +43.4% |
| AZTA Azenta Inc. | 0.74% | 1,316,401 | $43.8M | Reduce -10.3% |
| GGG Graco Inc. | 0.73% | 531,355 | $43.6M | Add +14.6% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.72% | 235,233 | $42.9M | Add +16.1% |
| KRMN Karman Holdings Inc. | 0.66% | 534,897 | $39.1M | New |
| WSO Watsco Inc. | 0.66% | 115,568 | $38.9M | Add +22.4% |
| WST West Pharmaceutical Services | 0.57% | 122,791 | $33.8M | Add +21.8% |
| POOL Pool Corp. | 0.56% | 144,707 | $33.1M | Add +17.3% |
| JBTM JBT Marel Corp. | 0.48% | 188,602 | $28.4M | Add +8.7% |
| PCOR Procore Technologies Inc. | 0.47% | 385,193 | $28.0M | Add +23.2% |
| LCII Lci Industries | 0.40% | 194,833 | $23.6M | Add +13.6% |
| BMI Badger Meter Inc. | 0.38% | 130,393 | $22.7M | New |
| PCTY Paylocity Holding Corp. | 0.36% | 141,220 | $21.5M | Add +12.2% |
| EVI Evi Industries Inc. | 0.36% | 872,555 | $21.5M | Add +8.2% |
| TECH Bio-Techne Corp. | 0.35% | 354,561 | $20.9M | Add +16.1% |
| PLMR Palomar Holdings Inc. | 0.05% | 20,635 | $2.8M | Add +17.3% |
| MAMA Mama's Creations Inc. | 0.04% | 185,700 | $2.5M | Reduce -19.0% |
| UTI Universal Technical Institut | 0.04% | 88,140 | $2.3M | Add +6.0% |
| WLDN Willdan Group Inc. | 0.04% | 20,412 | $2.1M | Reduce -10.2% |
| ELVA Electrovaya Inc. | 0.04% | 263,320 | $2.1M | New |
| IRMD Iradimed Corp. | 0.03% | 21,215 | $2.1M | Reduce -22.5% |
| BLFS Biolife Solutions Inc. | 0.03% | 78,492 | $1.9M | Add +4.0% |
| BWMN Bowman Consulting Group Ltd. | 0.03% | 57,295 | $1.9M | Add +2.1% |
| NABL N-Able Inc. | 0.03% | 252,775 | $1.9M | Add +21.0% |
| PHR Phreesia Inc. | 0.03% | 111,270 | $1.9M | Add +45.4% |
| IIIV I3 Verticals Inc. Class A | 0.03% | 72,902 | $1.8M | Add +4.8% |
| ERII Energy Recovery Inc. | 0.03% | 133,725 | $1.8M | Add +2.6% |
| TWST Twist Bioscience Corp. | 0.03% | 56,785 | $1.8M | Add +2.1% |
| ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP | 0.03% | 71,475 | $1.8M | Add +2.6% |
| PL Planet Labs PBC | 0.03% | 82,985 | $1.6M | Reduce -66.3% |
| COCO The Vita Coco Co. Inc. | 0.03% | 29,675 | $1.6M | Reduce -34.9% |
| CYRX Cryoport Inc. | 0.03% | 159,864 | $1.5M | Add +52.0% |
| TCYSF Tecsys Inc. | 0.03% | 66,835 | $1.5M | Add +5.2% |
| CLMB Climb Global Solutions Inc. | 0.02% | 13,165 | $1.4M | Add +46.7% |
| ODD Oddity Tech Ltd. Class A | 0.02% | 30,335 | $1.2M | New |
| TKNO Alpha Teknova Inc. | 0.02% | 317,084 | $1.2M | Add +2.6% |
| USPH U.S. Physical Therapy Inc. | 0.02% | 15,275 | $1.2M | Add +2.5% |
| MSFT Microsoft Corp. | 0.02% | 2,359 | $1.1M | Reduce -12.7% |
| TIC Tic Solutions Inc. | 0.02% | 108,821 | $1.1M | Add +2.6% |
| VRSK Verisk Analytics Inc. | 0.02% | 4,346 | $972K | Reduce -20.4% |
| GOOGL Alphabet Inc. Class A | 0.02% | 2,930 | $917K | Reduce -0.5% |
| KIDS Orthopediatrics Corp. | 0.01% | 48,210 | $856K | Reduce -23.9% |
| CSGP Costar Group Inc. | 0.01% | 12,277 | $826K | Reduce -21.0% |
| WCN Waste Connections Inc. | 0.01% | 4,682 | $821K | Reduce -27.6% |
| IDXX Idexx Laboratories Inc. | 0.01% | 1,205 | $815K | Reduce -28.7% |
| COST Costco Wholesale Corp. | 0.01% | 935 | $806K | Reduce -11.4% |
| SPGI S&P Global Inc. | 0.01% | 1,521 | $795K | Add +1.7% |
| FAST Fastenal Co. | 0.01% | 17,040 | $684K | Reduce -6.1% |
| GOOG Alphabet Inc. Class C | 0.01% | 2,165 | $679K | Reduce -0.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.01% | 1,215 | $611K | Add +3.0% |
| ROP Roper Technologies Inc. | 0.01% | 1,292 | $575K | Reduce -25.9% |
| MA Mastercard Inc. Class A | 0.01% | 995 | $568K | Reduce -5.7% |
| INTU Intuit Inc. | 0.01% | 795 | $527K | Add +2.6% |
| CPRT Copart Inc. | 0.01% | 12,943 | $507K | Reduce -31.9% |
| XYL Xylem Inc. | 0.01% | 3,707 | $505K | Reduce -23.6% |
| TSCO Tractor Supply Company | 0.01% | 9,520 | $476K | Reduce -27.9% |
Portfolio Sells Q3 2025 → Q4 2025
| TREX Trex Company Inc. | Sold out | 0.00% | −1.57 |
| SPSC SPS Commerce Inc. | Reduce -49.8% | 0.96% | −1.18 |
| STVN Stevanato Group SPA | Reduce -2.5% | 2.67% | −0.67 |
| FSV Firstservice Corp. | Reduce -4.2% | 3.07% | −0.67 |
| ROAD Construction Partners Inc. Class A | Reduce -5.0% | 3.70% | −0.65 |
| MLAB Mesa Laboratories Inc. | Sold out | 0.00% | −0.46 |
| ESE Esco Technologies Inc. | Reduce -11.2% | 2.55% | −0.41 |
| GNRC Generac Holdings Inc. | Reduce -98.2% | 0.01% | −0.32 |
| DSGX The Descartes Systems Grp | Reduce -4.8% | 3.70% | −0.28 |
| FSS Federal Signal Corp. | Reduce -9.0% | 1.83% | −0.27 |
| LMAT Lemaitre Vascular Inc. | Reduce -9.5% | 1.94% | −0.27 |
| TRNS Transcat Inc. | Reduce -3.2% | 0.90% | −0.24 |
| VERX Vertex Inc. Class A | Reduce -1.4% | 0.84% | −0.17 |
| MRCY Mercury Systems Inc. | Reduce -4.6% | 2.67% | −0.16 |
| HEI.A Heico Corp. Class A | Reduce -18.0% | 0.80% | −0.14 |
| SITE Siteone Landscape Supply Inc. | Reduce -6.2% | 2.25% | −0.12 |
| MSA Msa Safety Inc. | Reduce -2.1% | 2.02% | −0.10 |
| SSD Simpson Manufacturing Co. Inc. | Reduce -3.7% | 2.31% | −0.06 |
| BL Blackline Inc. | Reduce -10.5% | 1.72% | −0.04 |
| PL Planet Labs PBC | Reduce -66.3% | 0.03% | −0.02 |
| SSTI Soundthinking Inc. | Reduce -41.3% | 0.01% | −0.01 |
| THBRF Thunderbird Entertainment GR | Sold out | 0.00% | −0.01 |
| CSGP Costar Group Inc. | Reduce -21.0% | 0.01% | −0.01 |
| VEEV Veeva Systems Inc. Class A | Reduce -32.4% | 0.01% | −0.01 |
| VRSK Verisk Analytics Inc. | Reduce -20.4% | 0.02% | −0.01 |
| SNPS Synopsys Inc. | Sold out | 0.00% | −0.01 |
| CPRT Copart Inc. | Reduce -31.9% | 0.01% | −0.01 |
| GRMN Garmin Ltd. | Sold out | 0.00% | −0.00 |
| COCO The Vita Coco Co. Inc. | Reduce -34.9% | 0.03% | −0.00 |
| KIDS Orthopediatrics Corp. | Reduce -23.9% | 0.01% | −0.00 |
| WCN Waste Connections Inc. | Reduce -27.6% | 0.01% | −0.00 |
| ROP Roper Technologies Inc. | Reduce -25.9% | 0.01% | −0.00 |
| TSCO Tractor Supply Company | Reduce -27.9% | 0.01% | −0.00 |
| IDXX Idexx Laboratories Inc. | Reduce -28.7% | 0.01% | −0.00 |
| BSY Bentley Systems Inc. Class B | Reduce -36.4% | 0.00% | −0.00 |
| MSFT Microsoft Corp. | Reduce -12.7% | 0.02% | −0.00 |
| SJM The JM Smucker Co. | Sold out | 0.00% | −0.00 |
| FTNT Fortinet Inc. | Reduce -30.4% | 0.01% | −0.00 |
| XYL Xylem Inc. | Reduce -23.6% | 0.01% | −0.00 |
| FAST Fastenal Co. | Reduce -6.1% | 0.01% | −0.00 |
| STE Steris PLC | Reduce -32.3% | 0.01% | −0.00 |
| IT Gartner Inc. | Reduce -32.3% | 0.01% | −0.00 |
| NET Cloudflare Inc. Class A | Reduce -33.5% | 0.00% | −0.00 |
| COST Costco Wholesale Corp. | Reduce -11.4% | 0.01% | −0.00 |
| ODFL Old Dominion Freight Line | Reduce -40.9% | 0.00% | −0.00 |
| FICO Fair Isaac Corp. | Reduce -33.8% | 0.01% | −0.00 |
| WDFC WD-40 Co. | Reduce -4.4% | 0.98% | −0.00 |
| XOM Exxon Mobil Corp. | Reduce -23.1% | 0.00% | −0.00 |
| MA Mastercard Inc. Class A | Reduce -5.7% | 0.01% | −0.00 |
| WLDN Willdan Group Inc. | Reduce -10.2% | 0.04% | +0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| CSW CSW Industrials Inc. | Add +9.4% | 3.13% | +0.87 |
| RGEN Repligen Corp. | Add +10.6% | 2.92% | +0.86 |
| KRMN Karman Holdings Inc. | New | 0.66% | +0.66 |
| NOVT Novanta Inc. | Add +3.4% | 2.92% | +0.65 |
| BMI Badger Meter Inc. | New | 0.38% | +0.38 |
| BFAM Bright Horizons Family Solut | Add +25.0% | 1.88% | +0.34 |
| VCEL Vericel Corp. | Add +3.6% | 1.37% | +0.27 |
| MIR Mirion Technologies Inc. | Add +43.4% | 0.76% | +0.26 |
| NCNO Ncino Inc. | Add +25.8% | 1.23% | +0.24 |
| JKHY Jack Henry & Associates Inc. | Add +16.1% | 0.72% | +0.24 |
| KAI Kadant Inc. | Add +28.2% | 1.04% | +0.23 |
| WK Workiva Inc. | Add +8.7% | 1.57% | +0.20 |
| EXPO Exponent Inc. | Add +1.3% | 2.80% | +0.16 |
| WST West Pharmaceutical Services | Add +21.8% | 0.57% | +0.14 |
| LCII Lci Industries | Add +13.6% | 0.40% | +0.14 |
| ROL Rollins Inc. | Add +4.9% | 1.14% | +0.13 |
| CCC CCC Intelligent Solutions Ho | Add +17.9% | 1.68% | +0.12 |
| PCOR Procore Technologies Inc. | Add +23.2% | 0.47% | +0.11 |
| GGG Graco Inc. | Add +14.6% | 0.73% | +0.10 |
| JBTM JBT Marel Corp. | Add +8.7% | 0.48% | +0.09 |
| TECH Bio-Techne Corp. | Add +16.1% | 0.35% | +0.08 |
| WSO Watsco Inc. | Add +22.4% | 0.66% | +0.04 |
| PCTY Paylocity Holding Corp. | Add +12.2% | 0.36% | +0.04 |
| ELVA Electrovaya Inc. | New | 0.04% | +0.04 |
| TYL Tyler Technologies Inc. | Add +14.2% | 0.82% | +0.03 |
| HLMN Hillman Solutions Corp. | Add +4.2% | 0.83% | +0.02 |
| ODD Oddity Tech Ltd. Class A | New | 0.02% | +0.02 |
| PLMR Palomar Holdings Inc. | Add +17.3% | 0.05% | +0.01 |
| CYRX Cryoport Inc. | Add +52.0% | 0.03% | +0.01 |
| NABL N-Able Inc. | Add +21.0% | 0.03% | +0.01 |
| TWST Twist Bioscience Corp. | Add +2.1% | 0.03% | +0.01 |
| CLMB Climb Global Solutions Inc. | Add +46.7% | 0.02% | +0.00 |
| PHR Phreesia Inc. | Add +45.4% | 0.03% | +0.00 |
| PGX Invesco Preferred ETF | New | 0.00% | +0.00 |
| SPGI S&P Global Inc. | Add +1.7% | 0.01% | +0.00 |
| DHR Danaher Corp. | Add +13.6% | 0.00% | +0.00 |
| BLFS Biolife Solutions Inc. | Add +4.0% | 0.03% | +0.00 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +3.0% | 0.01% | +0.00 |
| INTU Intuit Inc. | Add +2.6% | 0.01% | +0.00 |
| LIN Linde PLC | Add +5.5% | 0.01% | −0.00 |
| USPH U.S. Physical Therapy Inc. | Add +2.5% | 0.02% | −0.00 |
| ONT Onterris Inc. | Add +2.6% | 0.03% | −0.00 |
| TCYSF Tecsys Inc. | Add +5.2% | 0.03% | −0.00 |
| ERII Energy Recovery Inc. | Add +2.6% | 0.03% | −0.00 |
| TIC Tic Solutions Inc. | Add +2.6% | 0.02% | −0.00 |
| UTI Universal Technical Institut | Add +6.0% | 0.04% | −0.00 |
| IIIV I3 Verticals Inc. Class A | Add +4.8% | 0.03% | −0.01 |
| BWMN Bowman Consulting Group Ltd. | Add +2.1% | 0.03% | −0.01 |
| TKNO Alpha Teknova Inc. | Add +2.6% | 0.02% | −0.01 |
| GWRE Guidewire Software Inc. | Add +3.9% | 0.88% | −0.04 |
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 |