Consistency Creates Quality

We bring a collaborative, generalist approach to investment management with a focused strategy built to identify and invest in compounders with competitive advantages.

Our Philosophy

We believe that investors can earn a premium return in small capitalization growth equities by identifying higher quality companies that are capable of growing through multiple business cycles. We seek to take advantage of the inefficient discovery process for small companies and other investors’ focus on near-term earnings.

Target

Quality Growth

Strong balance sheets with a compelling investment thesis

Identify

Sector Leadership

Industry standouts with superior product and/or service

Analyze

Competitive Durability

Substantial and sustainable competitive advantage

Examine

Management Capabilities

In-depth understanding of management vision and abilities

Invest

Like an Owner

Invest in businesses with an ownership-driven mindset

Challenge

Investment Assumptions

Generalist team review structure removes bias & blindspots

Maintain

Long-Term Perspective

Seek compounders you can hold for years

Investment Profile

Quality Growth Portfolios
Long-Term Investment Horizon
Low Turnover
Low Volatility
Concentrated High Conviction Portfolios
Downside Capture

Holdings Characteristics

Recurring Revenue
Sustainable Earnings Growth
Low Debt Levels
Sector Leadership
Competitive Durability
Strong Management & Governance
Target Compounders

Our Approach

We apply a consistent, repeatable process focused on finding and investing in businesses with specific characteristics whose long-term growth potential is not accurately reflected in the marketplace.

1

Opportunity Identification

Target high quality growth-oriented small-to mid-cap companies with investment thesis

2

Research & Exploration

Extensive due diligence & fundamental research centered on earnings growth and capital structure analysis

3

Investment Decision

Green-light opportunities with minimal volatility, high durability and long-term appreciation potential

Our Strategies

Micro Cap Growth

Small Cap Growth

SMid Cap Growth

Mid Cap Growth

Discovery Fund

Small Cap Fund

SMid Cap Fund

Mid Cap Fund

An investor should consider investment objectives, risks, charges, and expenses carefully before investing. Download a prospectus, which contains this information or call toll free 1-800-494-2755. Read the prospectus carefully before investing or sending money.

Important Risk Information:
Mutual Fund Investing involves risk, principal loss is possible. For more information about the Funds, including the Funds’ objectives, charges, expenses and risks, please read the prospectus.

Ultimus Fund Distributors, LLC. (Member FINRA & SIPC) serves as the Distributor to the Conestoga Funds.

Ultimus Fund Distributors, LLC. (Member FINRA & SIPC) and Conestoga Funds are non-affiliated.