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Conestoga Small Cap Fund

The Portfolio Managers of the Conestoga Small Cap Fund are Bob Mitchell and Joe Monahan, CFA. Bob and Joe utilize the same investment philosophy, style and process for the Fund that has been employed in constructing separately managed small cap accounts since 1989.

Investment Objective: The Fund seeks to provide long-term growth of capital. 


Fund Direct Account Access
To open a new Conestoga Fund Account or to view an Existing Fund Direct Account, please access the secure site above.  To open an account or for operational questions, please call the Fund's Servicing Agent (Ultimus Fund Distributors, LLC) at: (800) 494-2755.  Please contact a member of our Shareholder Services department at 1-800-494-2755 with any questions. Representatives are available Monday through Friday, 8:00am - 6:00pm EST.  You may also refer to the Fund's Prospectus and Applications below to assist in buying, exchanging and redeeming shares of each class of the Conestoga Small Cap Fund. 


Conestoga Funds Distributions:  
  • It is estimated that the Conestoga Small Cap Fund (Investors Class (CCASX) and Institutional Class (CCALX)) will have a long-term gain of $4.4895/share, with an ex-date and record date of December 2, 2021 and payable date of December 3, 2021. 


Conestoga Small Cap Fund Investors Share Class (CCASX) - Soft Close: 

With limited exceptions, effective March 2, 2018, shares of the Fund are generally closed to new retail investors opening accounts through financial intermediaries (i.e., advisory firms, broker dealers, etc.). Shares continue to be available for purchase to existing retail or “fund direct” investors. 

Effective July 1, 2018, shares of the Fund are generally not available to new accounts through financial intermediaries without existing client relationships with the Fund or the Adviser. As of that effective date, shares continue to be available for purchase by existing and new investors purchasing through financial intermediaries with existing client relationships with the Fund or the Adviser. Effective July 1, 2018, shareholders of the Conestoga SMid Cap Fund (the “SMid Cap Fund”) who are not currently also shareholders of the Fund are generally no longer be able to exchange their SMid Cap Fund shares for shares of the Fund; however, shareholders of the Fund may continue to exchange their shares of the Fund for shares of the SMid Cap Fund. Contact Conestoga Funds or your financial advisor for more information about investing in the Fund



Ticker

CUSIP

Net Assets (3/31/22)

Inception

Minimum Initial Investment

Total Gross Operation Expenses

Total Net Operation Expenses*

Investor Class

CCASX

207019100

$829.2 Mil

10/1/2002

$2,500

1.45%

1.10%

Institutional Class

CCALX

207019704

$3,053.5 Mil

8/13/2014

$250,000

0.98%

0.90%

* These are expenses that you pay each year as a percentage of the value of your investments.  Conestoga Capital Advisors, LLC (the “Adviser”) has contractually agreed to limit the Fund’s ‘Total Annual Fund Operating Expenses’ to 0.90% (for the Institutional Class) and 1.10% (for the Investors Class) of the Fund’s average daily net assets until at least January 31, 2023, subject to termination at any time at the option of the Fund. There is no guarantee that the agreement to limit the Fund's net annual operating expense will be renewed or extended.
                                                                                

Characteristics as of 3/31/22*

Price/Earnings (1 Yr. Fwd. incl. Neg.)37.3x
Earnings Growth (3-5 Yr. Est.)16.7%
PEG Ratio2.23
Weighted Avg. Market Cap.$4,185.7 Mil
ROE (5 Yr. Wtd. Avg.)
5.7%
Long-Term Debt/Capital22.6%
Turnover Rate - Trailing 12 Mos.27.69%
Number of Holdings

49

*Subject to change. P/E (1 Yr Fwd) is the ratio of a stock’s price to forecasted  earnings over the next year. Earnings growth is the forecasted growth rate of a company’s earnings over the next 3-5 years. PEG Ratio represents the ratio of P/E over Earnings Growth rate, and is a widely used valuation metric. ROE—Five Year Average is calculated as a company’s net income divided by its shareholders’ equity, and is a measure of profitability. Long-Term Debt/Capital is a measure of how   much debt a company is using to finance its operations, and is determined by dividing long-term debt by total capitalization. Forecasted data is sourced from FactSet Research Systems and represents the average of sell-side analyst forecasts.  


Top Ten Holdings as of 3/31/22**

1.  Casella Waste Systems Inc.4.01%
2.  Exponent Inc.3.99%
3.  SPS Commerce Inc.3.86%
4.  Descartes Systems Group Inc.3.55%
5.  Omnicell Co.3.26%
6.  Novanta Inc.3.20%
7.  FirstService Corp.2.84%
8.  SiteOne Landscape Supply Inc.2.73%
9.  Fox Factory Holdings Corp.2.66%
10.Mercury Systems Inc.2.65%

**Top Ten Equity Holdings presented as a percent of the Fund’s assets. The security holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of areas in which the Fund may invest, and may not be representative of the Fund’s current or future investments. Portfolio holdings are subject to change and should not be considered to be investment advice. Current and future holdings are subject to risk.  


Performance as of 3/31/2022:

 


QTDYTD1 Year3 Years5 Years7 Years10 YearsInception 10/1/2002Inception 8/13/2014
CCASX-15.32%-15.32%-4.44%12.44%14.79%13.53%13.48%12.30% N/A
CCALX-15.28%-15.28%-4.26%
12.67%15.02%13.76%N/AN/A14.00%
Russell 2000 Growth-12.63%-12.63%-14.33%9.88%10.33%8.52%11.21%11.06%9.72%
Russell 2000-7.53%-7.53%-5.79%11.74%9.74%8.87%11.04%10.71%9.56%







* All periods greater than one year are annualized. Performance is based upon closing NAV calculation on listed dates and represents past performance. Past performance does not guarantee future results and current performance may be lower or higher than the performance quoted. Performance data includes reinvestment of dividends. Investment returns and principal value of an investment in Conestoga Small Cap Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For the Fund’s daily NAV, list of additional holdings, total return as of the most recent month-end and a copy of the Fund’s prospectus, please visit www.conestogafunds.com or call 1-800-494-2755. Russell 2000 Index is an index that measures the performance of the 2,000 smallest companies in the Russell 3000 Index. Russell 2000 Growth Index measures the performance of those Russell 2000 companies with higher price-to-book ratios and higher forecasted growth values.  


Investors Share Class (CCASX) Information

Small Cap Fund Prospectus & Shareholder Reports


Institutional Share Class (CCALX) Information


Additional Information