Conestoga Capital Advisors Mid Cap Strategy’s Q2 2024 Investor Letter

Conestoga Capital Advisors, an asset management company, released its “Mid-Cap Strategy” second-quarter 2024 investor letter. The second quarter of 2024 may be regarded as a time of moderation. Economic indicators largely reflected slowing growth and easing inflation. The moderation theme also drives equity markets. Large-cap stocks, as measured by the S&P 500, rose 3.9% in the second quarter, however, small-cap stocks lagged again, with the Russell 2000 Index declining -3.3% and the Russell 2000 Growth Index declining -2.9%. The Mid Cap Strategy declined -4.22% net-of-fees in the quarter compared to a -3.21% return for the Russell Mid Cap Growth Index. Sector allocation effects were slightly positive, while stock selection effects detracted from relative returns. Higher-quality companies benefited from stylistic factors, which helped to boost relative returns. In addition, please check the fund’s top five holdings to know its best picks in 2024.

A copy of Conestoga Capital Advisors Mid Cap Strategy’s Q2 2024 investor letter can be downloaded here.