AZTA - Conestoga Capital Advisors Small Cap Fund Q1 2025 Commentary
2025-05-16 10:10:00 ET
Summary
- Our Small Cap Composite declined -11.35% in Q1 2025, modestly underperforming the Russell 2000 Growth Index due to company-specific headwinds.
- Stock selection in Industrials and Health Care detracted, while Technology and Basic Materials holdings provided relative strength in the quarter.
- We realized gains on Paycor HCM and Altair Engineering following acquisition offers, reinvesting proceeds into higher conviction positions.
- Despite short-term volatility, we remain confident in the medium- and long-term prospects of our high-quality small cap growth holdings.
Small Cap Composite Net Performance (as of 3/31/25)*
Conestoga Capital Advisors Small Cap Fund Q1 2025 Commentary