Conestoga Mid Cap Fund
Overview
Fund Investment Approach (as of 6/30/24)
CCMAX
CCMMX
Benchmark
Overview
Total Net Assets (as of 6/30/24)
CCMAX
CCMMX
Benchmark
Fund Objective
The Fund seeks to provide long-term growth of capital.
Fund Investment Approach
The Fund strives to generate long-term investment returns favorable to its benchmarks with lower risk. The Fund typically holds 30-45 mid capitalization stocks that the investment team believes are attractively valued relative to their growth prospects. Conestoga seeks companies which we believe have sustainable earnings growth rates, high returns on equity, low debt levels, and capable management teams.
Daily
Performance
Total Returns vs. Benchmark
| 1 Month | 1 Year | 3 Years | Since Inception (6/29/2021) |
|
|---|---|---|---|---|
| Conestoga Mid Cap Fund (CCMAX) | 1.62% | 21.28% | -0.95% | 0.09% |
| Conestoga Mid Cap Fund (CCMMX) | 1.63% | 20.90% | -1.18% | -0.15% |
| Russell Midcap Growth Index | 3.33% | 29.33% | 2.32% | 1.75% |
| 3 Months | 1 Year | 3 Years | Since Inception (6/29/2021) |
|
|---|---|---|---|---|
| Conestoga Mid Cap Fund (CCMAX) | 8.20% | 21.28% | -0.95% | 0.09% |
| Conestoga Mid Cap Fund (CCMMX) | 8.15% | 20.90% | -1.18% | -0.15% |
| Russell Midcap Growth Index | 6.54% | 29.33% | 2.32% | 1.75% |
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 Mid 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. Russell Midcap Growth Index measures the performance of those Russell Mid Cap companies with higher price-to-book ratios and higher forecasted growth values. An individual cannot invest directly in an index.
Portfolio
Sector Weightings
Sectors are defined according to the ICB industry classifications.
Top Ten Equity Holdings
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.
Fund Facts
| CCMAX CCMMX |
Russell Midcap Growth | |
| P/E (1 Yr. Forward incl. Neg.) | 34.1x | 24.1x |
| Earnings Growth (3-5 Yr.) | 12.4% | 14.2% |
| Weighted Avg. Market Cap. | $27,312.8 Mil | $32,588.6 Mil |
| ROE (5 Yr. Weighted Avg.) | 21.5% | 19.7% |
| Long-Term Debt/Capital | 36.4% | 45.0% |
| Number of Holdings | 34 | 330 |
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. Wtd. Avg. is a calculation that takes into account the varying degrees of importance of the numbers in a data set. In calculating a weighted average, each number in the data set is multiplied by a predetermined weight before the final calculation is made. Wtd. Avg. Market Cap. is determined by multiplying the current market price by the number of outstanding shares and then taking an average to determine weighting. 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.
Annual Fund Operating Expenses
| CCMAX | CCMMX | |
| Management Fees | 0.80% | 0.80% |
| Distirbution (12b-1) Fees | 0.00% | 0.25% |
| Other Expenses | 11.30% | 16.49% |
| Service Fees1 | 0.10% | 0.25% |
| Other Operating Expenses | 11.20% | 16.24% |
| Total Annual Fund Operating Expenses | 12.10% | 17.54% |
| Expense Limitation | -11.30% | -16.49% |
| Total Net Operating Expenses | 0.80% | 1.05% |
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 0.80% (for the Institutional Class) and 1.05% (for the Investors Class) of the Fund’s average daily net assets until at least January 31, 2025, 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.
Portfolio Management Team
How to Invest
Individual Investors
To open a new Conestoga Fund Account or to view an Existing Fund Direct Account, please access the secure site above. 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.
Institutional & Financial Professionals
Disclosures
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. Investment in the Fund is subject to investment risks, including, without limitation, equity risk, market risk, management risk, small company risk, foreign investment risk, currency risk, large redemption risk. Funds that invest in mid cap stocks are often more volatile than large cap stocks. Mid-sized companies generally face higher risks due to their limited product lines, markets and financial resources. For more information about the Fund, including the Fund’s objectives, charges, expenses and risks (including more information about the risks listed above), please read the prospectus.
1) The Fund has adopted a Shareholder Servicing Plan on behalf of the Institutional and Investors Class shares that will allow the Fund to pay an annual fee of up to 0.10% (for Institutional Class) and 0.25% (for Investors Class) of its average daily net assets for providing services to the Fund’s Institutional and Investors Class shareholders, respectively.
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.