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

Conestoga Capital Advisors, an asset management company, released its “SMid Cap Strategy” first-quarter 2024 investor letter. The US economy appears to be headed for a softer landing and inflation is moderating. The strategy trailed the Russell 2500 Growth Index in the first quarter rising 4.29% net of fees versus the benchmark return of 8.51%. Sector allocation effects contributed to relative returns while stock selection detracted. Similar to the small-cap strategy, the lack of holdings in Super Micro Computer Inc. (SMCI) and MicroStrategy Inc. (MSTR) detracted just over 2% from 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 Smid Cap Strategy’s Q1 2024 investor letter can be downloaded here.