Montanaro Asset Management Ltd
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 12, 2026), Montanaro Asset Management Ltd reported 42 stock positions worth $317.2 million. Its top holding was Nova (NVMI) at 5.9% of the portfolio, followed by Watts Water Technologies-A (WTS, 5.7%) and Eastgroup Properties (EGP, 5.1%). Compared with Q1 2026, it opened 5 new positions, sold out of 5, added to 10 and reduced 27. The biggest buy was a new position in Acuity (AYI) and the biggest sale an exit from Tyler Technologies (TYL).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001831133
- Portfolio Value
- $317.2M (Q2 2026)
- SEC Filing
- 0001831133-26-000003 ↗ filed Aug 12, 2026
Holdings Value
Holdings 42 stocks · $317.2M
| NVMI Nova Ltd. | 5.89% | 34,380 | $18.7M | Reduce -28.6% |
| WTS Watts Water Technologies-A | 5.69% | 46,100 | $18.0M | Add +74.0% |
| EGP Eastgroup Properties Inc. | 5.06% | 79,318 | $16.1M | Add +4.9% |
| FSS Federal Signal Corp. | 4.96% | 122,531 | $15.7M | Reduce -0.5% |
| VMI Valmont Industries | 4.71% | 25,850 | $14.9M | Add +33.3% |
| BCPC Balchem Corp. | 4.66% | 87,518 | $14.8M | Reduce -11.3% |
| SITM Sitime Corp. | 3.76% | 16,000 | $11.9M | Reduce -36.0% |
| BSY Bentley Systems Inc. Class B | 3.59% | 380,833 | $11.4M | Reduce -4.9% |
| CSW CSW Industrials Inc. | 3.57% | 40,705 | $11.3M | Reduce -18.3% |
| HLI Houlihan Lokey Inc. | 3.51% | 82,934 | $11.1M | Reduce -15.6% |
| AWK American Water Works Co. Inc. | 3.49% | 84,140 | $11.1M | Reduce -6.3% |
| AYI Acuity Inc. | 3.44% | 28,950 | $10.9M | New |
| ENTG Entegris Inc. | 3.37% | 59,500 | $10.7M | Reduce -27.4% |
| EXPO Exponent Inc. | 3.32% | 179,089 | $10.5M | Reduce -6.6% |
| MANH Manhattan Associates Inc. | 2.98% | 67,765 | $9.4M | Reduce -14.6% |
| TECH Bio-Techne Corp. | 2.81% | 126,335 | $8.9M | Reduce -63.0% |
| LRN Stride Inc. | 2.64% | 97,249 | $8.4M | Reduce -22.4% |
| SXT Sensient Technologies Corp. | 2.55% | 65,500 | $8.1M | New |
| VEEV Veeva Systems Inc. Class A | 2.41% | 43,100 | $7.6M | Add +19.7% |
| MIR Mirion Technologies Inc. | 2.37% | 418,646 | $7.5M | Add +37.1% |
| ROL Rollins Inc. | 1.99% | 151,315 | $6.3M | Reduce -25.5% |
| MSCI MSCI Inc. | 1.94% | 11,000 | $6.2M | Reduce -29.7% |
| FN Fabrinet | 1.77% | 10,000 | $5.6M | Reduce -50.0% |
| ALRM Alarm.com Holdings Inc. | 1.64% | 111,197 | $5.2M | Reduce -21.5% |
| MDA Mda Space Ltd. | 1.58% | 121,600 | $5.0M | Reduce -9.3% |
| HQY Healthequity Inc. | 1.35% | 47,400 | $4.3M | Reduce -6.7% |
| HWKN Hawkins Inc. | 1.34% | 29,800 | $4.2M | Reduce -50.2% |
| CLH Clean Harbors Inc. | 1.27% | 13,500 | $4.0M | Add +275.0% |
| TW Tradeweb Markets Inc. Class A | 1.24% | 39,500 | $3.9M | Reduce -25.7% |
| GGG Graco Inc. | 1.19% | 50,000 | $3.8M | Reduce -54.5% |
| BELFB Bel Fuse Inc. Class B | 1.16% | 11,000 | $3.7M | New |
| KGS Kodiak Gas Services Inc. | 1.07% | 45,000 | $3.4M | New |
| HXL Hexcel Corp. | 1.06% | 33,710 | $3.4M | Reduce -19.7% |
| TRNS Transcat Inc. | 0.94% | 32,105 | $3.0M | Reduce -19.7% |
| SNEX Stonex Group Inc. | 0.90% | 24,079 | $2.9M | Reduce -19.7% |
| WMS Advanced Drainage Systems Inc. | 0.89% | 17,900 | $2.8M | Add +65.7% |
| TTEK Tetra Tech Inc. | 0.84% | 91,800 | $2.7M | Add +28.4% |
| STVN Stevanato Group SPA | 0.80% | 140,459 | $2.5M | Reduce -19.7% |
| UTI Universal Technical Institut | 0.73% | 54,068 | $2.3M | Reduce -18.9% |
| ESE Esco Technologies Inc. | 0.55% | 5,000 | $1.8M | New |
| KNSL Kinsale Capital Group Inc. | 0.49% | 4,757 | $1.6M | Add +6.7% |
| BMI Badger Meter Inc. | 0.48% | 10,300 | $1.5M | Add +41.1% |
Portfolio Sells Q1 2026 → Q2 2026
| TYL Tyler Technologies Inc. | Sold out | 0.00% | −2.80 |
| FCN Fti Consulting Inc. | Sold out | 0.00% | −2.64 |
| TECH Bio-Techne Corp. | Reduce -63.0% | 2.81% | −2.52 |
| TMDX Transmedics Group Inc. | Sold out | 0.00% | −2.34 |
| GGG Graco Inc. | Reduce -54.5% | 1.19% | −1.59 |
| HWKN Hawkins Inc. | Reduce -50.2% | 1.34% | −1.41 |
| FN Fabrinet | Reduce -50.0% | 1.77% | −1.35 |
| ROL Rollins Inc. | Reduce -25.5% | 1.99% | −1.25 |
| HLI Houlihan Lokey Inc. | Reduce -15.6% | 3.51% | −0.71 |
| BRBR Bellring Brands Inc. | Sold out | 0.00% | −0.67 |
| LRN Stride Inc. | Reduce -22.4% | 2.64% | −0.66 |
| TW Tradeweb Markets Inc. Class A | Reduce -25.7% | 1.24% | −0.63 |
| BSY Bentley Systems Inc. Class B | Reduce -4.9% | 3.59% | −0.62 |
| MSCI MSCI Inc. | Reduce -29.7% | 1.94% | −0.58 |
| EXPO Exponent Inc. | Reduce -6.6% | 3.32% | −0.43 |
| NVMI Nova Ltd. | Reduce -28.6% | 5.89% | −0.37 |
| BCPC Balchem Corp. | Reduce -11.3% | 4.66% | −0.34 |
| DOCS Doximity Inc. Class A | Sold out | 0.00% | −0.32 |
| CSW CSW Industrials Inc. | Reduce -18.3% | 3.57% | −0.31 |
| ALRM Alarm.com Holdings Inc. | Reduce -21.5% | 1.64% | −0.19 |
| MANH Manhattan Associates Inc. | Reduce -14.6% | 2.98% | −0.18 |
| AWK American Water Works Co. Inc. | Reduce -6.3% | 3.49% | −0.17 |
| UTI Universal Technical Institut | Reduce -18.9% | 0.73% | +0.01 |
| HXL Hexcel Corp. | Reduce -19.7% | 1.06% | +0.05 |
| TRNS Transcat Inc. | Reduce -19.7% | 0.94% | +0.06 |
| HQY Healthequity Inc. | Reduce -6.7% | 1.35% | +0.08 |
| STVN Stevanato Group SPA | Reduce -19.7% | 0.80% | +0.08 |
| SNEX Stonex Group Inc. | Reduce -19.7% | 0.90% | +0.18 |
| ENTG Entegris Inc. | Reduce -27.4% | 3.37% | +0.50 |
| MDA Mda Space Ltd. | Reduce -9.3% | 1.58% | +0.57 |
| FSS Federal Signal Corp. | Reduce -0.5% | 4.96% | +0.98 |
| SITM Sitime Corp. | Reduce -36.0% | 3.76% | +1.18 |
Portfolio Buys Q1 2026 → Q2 2026
| AYI Acuity Inc. | New | 3.44% | +3.44 |
| WTS Watts Water Technologies-A | Add +74.0% | 5.69% | +3.39 |
| SXT Sensient Technologies Corp. | New | 2.55% | +2.55 |
| VMI Valmont Industries | Add +33.3% | 4.71% | +2.39 |
| BELFB Bel Fuse Inc. Class B | New | 1.16% | +1.16 |
| KGS Kodiak Gas Services Inc. | New | 1.07% | +1.07 |
| CLH Clean Harbors Inc. | Add +275.0% | 1.27% | +0.96 |
| EGP Eastgroup Properties Inc. | Add +4.9% | 5.06% | +0.88 |
| MIR Mirion Technologies Inc. | Add +37.1% | 2.37% | +0.67 |
| ESE Esco Technologies Inc. | New | 0.55% | +0.55 |
| VEEV Veeva Systems Inc. Class A | Add +19.7% | 2.41% | +0.52 |
| WMS Advanced Drainage Systems Inc. | Add +65.7% | 0.89% | +0.44 |
| TTEK Tetra Tech Inc. | Add +28.4% | 0.84% | +0.19 |
| BMI Badger Meter Inc. | Add +41.1% | 0.48% | +0.15 |
| KNSL Kinsale Capital Group Inc. | Add +6.7% | 0.49% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 42 | $317.2M | NVMI, WTS, EGP, FSS, VMI |
| Q1 2026 | 42 | $334.4M | NVMI, TECH, BCPC, HLI, BSY |
| Q4 2025 | 41 | $358.8M | NVMI, TECH, ROL, BSY, HLI |
| Q3 2025 | 41 | $400.4M | BSY, NVMI, TYL, TECH, LRN |
| Q2 2025 | 39 | $387.9M | BSY, TYL, NVMI, LRN, TMDX |
| Q1 2025 | 46 | $340.9M | TYL, LRN, TREX, TECH, ROL |
| Q4 2024 | 47 | $484.4M | TYL, BRKR, TECH, TREX, MANH |
| Q3 2024 | 47 | $561.1M | TYL, BRKR, TECH, AWK, HLI |
| Q2 2024 | 46 | $536.4M | TYL, NVMI, BRKR, AWK, BCPC |
| Q1 2024 | 44 | $553.7M | BRKR, TREX, TYL, NVMI, ICLR |