Conestoga Capital Advisors, LLC Q4 2022 vs. Q1 2023: A Look at the 13F Holdings

Investment managers managing over $100 million in qualifying U.S. exchange-traded assets must submit their 13F filings to the U.S. Securities and Exchange Commission within 45 days at the end of each quarter. The 13F filing reveals a fund's portfolio of stocks, including their shares and values. In this article, we'll look at Conestoga Capital Advisors, LLC's Q4 2022 vs. Q1 2023 13F holdings comparison.

Conestoga Capital Advisors, LLC (CCA) is a boutique investment adviser that manages around $3.2 billion in assets. The firm's investment strategy is to invest in high-quality companies with unique business models, sustainable competitive advantages, and significant growth opportunities. Here are some of CCA's top holdings with notable changes:

Casella Waste Systems Inc (CWST)

Casella Waste Systems Inc is a waste management company that operates across North America. In Q4 2022, CCA held 3,026,971 shares of CWST, but in Q1 2023, the number of shares increased to 3,056,547, a 5.2% increase. The value of shares held also rose by 5.2% from $240,069,000 to $252,654,000.

Descartes Systems Group Inc (DSG.TO)

Descartes Systems Group Inc is a Canada-based logistics technology provider. CCA held 2,988,107 shares of DSG.TO in Q4 2022. However, in Q1 2023, the number of shares increased to 3,004,274, representing a 16.4% increase. The value of shares held increased by 16.4% from $208,121,000 to $242,174,000.

FirstService Corp New (FSV.TO)

FirstService Corp New provides residential and commercial property services, including property management and home renovation. In Q4 2022, CCA held 1,336,783 shares of FSV.TO. However, in Q1 2023, the number of shares increased to 1,350,531, representing a 16.2% increase. The value of shares held increased by 16.2% from $163,822,000 to $190,411,000.

Altair Engineering Inc (ALTR)

Altair Engineering Inc is a software company that provides product development, cloud solutions, data analytics, and simulation technology services. In Q4 2022, CCA held 2,341,757 shares of ALTR. However, in Q1 2023, the number of shares increased to 2,370,624, representing a 60.5% increase. The value of shares held increased by 60.5% from $106,479,000 to $170,945,000.

Omnicell Inc (OMCL)

Omnicell Inc provides medication and supply management solutions to the healthcare industry. In Q4 2022, CCA held 1,614,340 shares of OMCL. However, in Q1 2023, the number of shares decreased to 1,131,485, representing an 18.4% decrease. The value of shares held decreased by 18.4% from $81,395,000 to $66,384,000.

Model N Inc (MODN)

Model N Inc is a cloud revenue management solutions provider. In Q4 2022, CCA held 3,772,912 shares of MODN. However, in Q1 2023, the number of shares decreased to 3,792,154, representing a 17.1% decrease. The value of shares held decreased by 17.1% from $153,029,000 to $126,923,000.

In conclusion, CCA's Q4 2022 vs. Q1 2023 13F holdings show some notable changes in their portfolio. In some cases, CCA increased their holdings, while in others, they decreased them. However, investors must assess the market and economic conditions before making investment decisions.