ROAD - Conestoga Capital SMid Cap Composite Q1 2025 Commentary
2025-05-16 10:20:00 ET
Summary
- Our SMid Cap Composite outperformed the Russell 2500 Growth Index in Q1 2025, driven by strong stock selection in Industrials, Technology, and Consumer Discretionary.
- High-quality, profitable companies with strong ROIC and EBITDA margins provided resilience during the market downturn, while Health Care holdings were a performance drag.
- We realized gains from acquisitions and rotated into higher-conviction names like Paylocity, maintaining a focus on recurring revenue and margin expansion opportunities.
- Our disciplined approach and focus on quality businesses position us well for continued outperformance in volatile equity markets.
SMid Cap Composite Net Performance (as of 3/31/25)*
Conestoga Capital SMid Cap Composite Q1 2025 Commentary