Broker Check

Conestoga Micro Cap Fund

The lead portfolio managers of the Conestoga Micro Cap Fund are David Neiderer and Joseph Monahan, with Robert Mitchell serving as co-portfolio manager.  The Fund was launched on December 17, 2021.
 
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 Micro Cap Fund.  



Ticker

CUSIP

Net Assets (12/31/21)

Inception

Minimum Initial Investment

Total Gross Operation Expenses

Total Net Operation Expenses*

Investor Class

CMCMX

207019878

$0.2 Mil

11/30/2018

$2,500

7.00%

1.50%

Institutional Class

CMIRX

207019860

$2.8 Mil

11/30/2018

$250,000

6.60%

1.25% 

* 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 1.25% (for the Institutional Class) and 1.50% (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 12/31/21*

Wtd. Avg. Market Cap.$1,214.9 Mil
Revenue Growth (3 Yr. CAGR) Median11.9%
Earnings Growth (3-5 Yr. Est.) Median19.1%
Gross Margin (LTM) Median48.2%
Operating Margin (LTM) Median3.9%
Return on Equity (5 Yr. Median)4.5%
LT Debt/Capital (Wtd. Avg.)22.8%
Insider Ownership (Wtd. Avg.)14.9%
NTM P/E (excl. negatives)29.3%
NTM PEG Ratio1.7x

*Subject to change.

Top Ten Holdings as of 12/31/21*

1.  Digi International Inc.4.39%
2.  NV5 Global Inc.4.15%
3.  Codexis Inc.4.01%
4.  Transcat Inc.3.96%
5.  I3 Verticals Inc.3.90%
6.  Simulations Plus Inc.3.80%
7.  Model N Inc.3.76%
8.  Thunderbird Entertainment Group Inc.3.69%
9.  Constructions Partners Inc.3.58%
10.Biolife Solutions Inc.3.49%

*Current and future portfolio holdings are subject to risk.


Performance as of 12/31/2021:

 


QTDYTD1 Year3 YearsInception 11/30/2018
CMCMX-2.19%3.69%3.69%29.10%24.75%
CMIRX-2.14%3.94%3.94%29.42%25.06%
Russell Microcap Growth-7.97%0.88%0.88%20.36%14.56%






* 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 Micro 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.conestogacapital.com or call 1-800-494-2755.   

The Fund commenced operations as a series of Conestoga Funds on December 17, 2021, when all of the assets of Conestoga Micro Cap Fund, LP (the “Predecessor Fund”) transferred to Institutional Class and Investors Class shares of the Fund. The Fund’s investment objectives, policies, guidelines and restrictions are in all material respects equivalent to those of the Predecessor Fund, and the investment adviser and portfolio managers for the Fund will be the same as those of the Predecessor Fund. Accordingly, the performance information shown for periods prior to December 17, 2021 is that of the Predecessor Fund. The Predecessor Fund was not registered under the Investment Company Act of 1940, as amended (the “1940 Act”), and thus was not subject to certain investment and operational restrictions that are imposed by the 1940 Act. If the Predecessor Fund had been registered under the 1940 Act, its performance may have been adversely affected. Accordingly, future Fund performance may be different than the Predecessor Fund’s restated past performance. After-tax performance returns are not included for the Predecessor Fund. The Predecessor Fund was not a regulated investment company under Subchapter M of the Internal Revenue Code and therefore did not distribute current or accumulated earnings and profits and was not subject to the diversification and source of income requirements applicable to regulated investment companies. Monthly returns since the inception of the Predecessor Fund are provided in Appendix A of the Statutory Prospectus.  Russell Micro Cap Growth Index measures the performance of those Russell Micro Cap companies with higher price-to-book ratios and higher forecasted growth values.


Investors Share Class (CMCMX) Information


Micro Cap Fund Prospectus & Shareholder Reports


Institutional Share Class (CMIRX) Information


Additional Information