LongGHMSep 2026
Graham Corporation
Graham makes engineered equipment for defense, space and energy markets. It delivered record quarterly revenue and backlog, with demand particularly strong in military and space…
Conestoga Capital Advisors, LLC
Fundamental, quality-oriented growth investing in U.S. small-, small/mid- and micro-cap equities.$3.8B AUM30 published ideas
Conestoga Capital Advisors is an independent investment adviser focused on small- and mid-cap growth portfolios. The firm favors durable business models, conservative financial profiles, strong management teams and companies capable of sustained earnings growth. Its third-quarter commentary covers Small Cap, SMid Cap and Micro Cap strategies.
Ideas from Conestoga Capital Advisors, LLC
LongEZPWSep 2026
EZCORP, Inc.
Conestoga initiated EZCORP based on its established pawn-lending franchise in the U.S. and Latin America. Persistent customer demand and scope to expand stores provide revenue…
LongRGENSep 2026
Repligen Corporation
Repligen supplies products and technologies for biologic drug production, making it sensitive to the recovery in bioprocessing investment. Strong proteins and analytics demand…
LongMMSISep 2026
Merit Medical Systems, Inc.
Merit Medical is seeing accelerating demand for interventional and diagnostic medical devices after a difficult beginning of the year. Organic growth rose to 9% from 4%, its…
LongSTVNSep 2026
Stevanato Group S.p.A.
Stevanato is shifting toward higher-value pharmaceutical containment and drug-delivery products, particularly for biologic treatments and GLP-1 medicines. High-value solutions…
LongDSGXSep 2026
The Descartes Systems Group Inc.
Descartes provides logistics, customs and transportation software that becomes more valuable as international trade grows complicated. Shifting tariffs, tighter customs…
LongDGIISep 2026
Digi International Inc.
Digi sells connected-device hardware, software and services that let businesses monitor and control assets remotely. It delivered record revenue, recurring revenue and adjusted…
LongMRCYSep 2026
Mercury Systems, Inc.
Mercury supplies advanced processing systems to defense and aerospace programs. Although its shares declined, the company reported record revenue, bookings and backlog, with…
LongAAONSep 2026
AAON, Inc.
AAON makes engineered HVAC equipment, including data-center cooling through its BASX business. Revenue is expanding strongly, while higher data-center demand and share gains…
LongRBCSep 2026
RBC Bearings Incorporated
RBC supplies highly engineered, essential bearings and components to aerospace, defense and industrial customers. Demand and industrial activity remain healthy and backlog is at…
LongSPXCSep 2026
SPX Technologies, Inc.
SPX Technologies supplies commercial HVAC, detection and measurement equipment. A strong quarter included 17% organic revenue growth and raised guidance, supporting the potential…
LongULSSep 2026
UL Solutions Inc.
UL Solutions provides inspection, testing and certification in consumer and industrial markets. Conestoga interprets increased capital spending as evidence that the company is…
LongALGMSep 2026
Allegro MicroSystems, Inc.
Conestoga initiated Allegro because electronic content is growing in vehicles through electrification and advanced driver-assistance systems. Long vehicle qualification cycles…
LongCVCOSep 2026
Cavco Industries, Inc.
Conestoga bought Cavco to benefit from the persistent shortfall of affordable U.S. housing. Manufactured homes provide a lower-cost alternative to site-built properties. Rising…
LongVSECSep 2026
VSE Corporation
VSE operates an aviation aftermarket distribution and repair platform with growing proprietary content and OEM partnerships. Its expansion through acquisitions and investment has…
LongGWRESep 2026
Guidewire Software, Inc.
Guidewire is transitioning its property and casualty insurance software customers to a more recurring cloud revenue model. Fiscal fourth-quarter results showed 22% fully ramped…
LongROLSep 2026
Rollins, Inc.
Conestoga remains positive on Rollins because of its recurring pest-control revenues and diversified brands, including Orkin. Residential demand was weak and organic sales growth…
LongROADSep 2026
Construction Partners, Inc.
Construction Partners provides road-building and maintenance services across fast-growing Sunbelt states. Despite bad weather and energy inflation, the company reported solid…
LongMTSISep 2026
MACOM Technology Solutions Holdings, Inc.
Conestoga initiated MACOM to participate in faster data-center interconnects and increasingly sophisticated defense electronics. Its specialized semiconductors support optical…
LongSTRLSep 2026
Sterling Infrastructure, Inc.
Sterling performs complex site preparation and electrical work for hyperscale data centers and industrial construction. Conestoga initiated a position because the company can win…
LongSXISep 2026
Standex International Corporation
Conestoga bought Standex for its rising exposure to grid infrastructure, electrification and data-center equipment. The portfolio is shifting toward higher-value engineered…
LongSEICSep 2026
SEI Investments Company
SEI provides investment processing, asset administration and technology services. Conestoga expects rising complexity in investment operations, including the move of alternative…
LongCGNXSep 2026
Cognex Corporation
Conestoga returned to Cognex, a machine-vision leader with proprietary cameras, sensors and AI-enabled industrial inspection tools. A new CEO joins a company with high entry…
LongTWSTSep 2026
Twist Bioscience Corporation
Twist manufactures synthetic DNA and sequencing-related products for life-science research. Improving demand across several end markets and better gross margins drove strong…
LongTKNOSep 2026
Alpha Teknova, Inc.
Alpha Teknova supplies customized reagents and essential materials for life-science research, diagnostics and drug development. Revenue hit a record as growth spread across…
LongCLMBSep 2026
Climb Global Solutions, Inc.
Climb distributes emerging technology and cybersecurity products through a network of resellers and software partners. It recorded double-digit organic growth across an unusually…
LongUTISep 2026
Universal Technical Institute, Inc.
Universal Technical Institute trains students for automotive, skilled-trade and healthcare occupations. Conestoga views the quarter's enrollment shortfall as an execution issue…
LongELVASep 2026
Electrovaya Inc.
Electrovaya makes lithium-ion batteries for industrial forklifts and other equipment. A cut to management's revenue forecast appears tied to delayed projects and supply-chain…
LongMAMASep 2026
Mama’s Creations, Inc.
Mama’s Creations sells prepared foods through grocery, mass-market and club retailers. Operating results remained healthy with increasing revenue and adjusted EBITDA and…
LongONTSep 2026
Onterris, Inc.
Onterris delivers environmental testing, consulting and remediation services to industrial and government clients. Revenue declined due to unusually low emergency-response…
Letters covered
- Conestoga Quarterly Commentary — 3Q26September 30, 2026
Source PDFs are not republished here; only extracted ideas and quotes.