Conestoga Capital Advisors Small Cap Strategy’s Q1 2024 Investor Letter

Conestoga Capital Advisors, an asset management company, released its “Small Cap Strategy” first-quarter 2024 investor letter. Conestoga Small Cap Composite returned 3.69% in the first quarter compared to 7.58% for the Russell 2000 Growth Index. The market continued to rise in the first quarter as many major asset classes delivered positive returns. Lack of holdings in Super Micro Computer Inc. (SMCI) and MicroStrategy Inc. (MSTR), the largest names in the benchmark, was the major reason for the underperformance of the portfolio relative to the index. In addition, stock selection in...