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Trending ETFs

Name

As of 10/02/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.25

$2.42 M

0.00%

9.08%

Vitals

YTD Return

-14.1%

1 yr return

-12.8%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$2.42 M

Holdings in Top 10

42.4%

52 WEEK LOW AND HIGH

$6.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 9.08%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$250,000

IRA

$250,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/02/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.25

$2.42 M

0.00%

9.08%

CMIRX - Profile

Distributions

  • YTD Total Return -14.1%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    CONESTOGA MICRO CAP FUND
  • Fund Family Name
    Conestoga Capital Advisors
  • Inception Date
    Nov 30, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joseph Monahan

Fund Description

Under normal market circumstances, the Fund invests at least 80% of its net assets in equity securities of micro-capitalization companies. Equity securities include common and preferred stocks, both domestic and foreign, convertible securities, rights, warrants and American depositary receipts (“ADRs”). While there is no limit on investing in foreign securities, the Fund does not expect investment in foreign securities to exceed 20% of the Fund’s total assets. The Adviser considers micro market capitalization (“micro-cap”) companies for this purpose to be those companies that, at the time of initial purchase (including the existing portfolio), have market capitalizations generally within the range of companies included in the Russell Micro Cap® Index. The Fund will not change this policy unless it notifies shareholders at least 60 days in advance. This policy does not require the Fund to sell the security of a micro-cap company if such company’s market capitalization moves outside the range of the market capitalization in the Russell Micro Cap® Index. As of December 31, 2022, the capitalization range of the Russell Micro Cap® Index was from $1 million to $4.6 billion. For purposes of this policy, “net assets” includes any borrowings for investment purposes. The Adviser follows an investment style which seeks to identify higher quality companies growing through multiple business cycles. The Adviser generally invests the Fund’s assets in micro-cap companies with expected earnings growth that exceed that of the average of all U.S. publicly traded companies, where valuations seem reasonable compared to the expected earnings growth, where financial characteristics, based on fundamental analysis, appear to be strong, where (in the Adviser’s opinion) the business model offers sustainable competitive advantage as may be evident by market share or technological/product advantages relative to peers, and where management has an important ownership stake in the company that aligns their incentives with those of shareholders. Companies will meet the Adviser’s criteria and, according to the Adviser’s analysis, must, in the Adviser’s opinion, have the potential to appreciate at least 100% over a three to four year period. The Adviser uses a bottom-up approach in selecting securities. Bottom-up investing focuses on the analysis of individual company fundamentals while placing less significance on macroeconomic factors. The Fund may invest in securities of any market sector and may, from time to time, hold a significant amount of securities of companies within a single sector. The Fund currently anticipates that it will have significant exposure to the Industrials, Healthcare and Technology sectors. There is no guarantee that the Fund will achieve its investment objective.

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CMIRX - Performance

Return Ranking - Trailing

Period CMIRX Return Category Return Low Category Return High Rank in Category (%)
YTD -14.1% -47.6% 31.3% 99.83%
1 Yr -12.8% -76.9% 13.6% 99.32%
3 Yr N/A* -56.2% 41.0% N/A
5 Yr N/A* -43.4% 13.5% N/A
10 Yr N/A* -23.5% 13.5% N/A

* Annualized

Return Ranking - Calendar

Period CMIRX Return Category Return Low Category Return High Rank in Category (%)
2022 N/A -82.1% 32.2% N/A
2021 N/A -90.6% 300.1% N/A
2020 N/A -63.0% 127.9% N/A
2019 N/A -7.7% 42.9% N/A
2018 N/A -54.2% 13.6% N/A

Total Return Ranking - Trailing

Period CMIRX Return Category Return Low Category Return High Rank in Category (%)
YTD -14.1% -47.3% 31.3% 99.83%
1 Yr -12.8% -52.7% 13.6% 99.32%
3 Yr N/A* -15.1% 76.7% N/A
5 Yr N/A* -10.5% 40.5% N/A
10 Yr N/A* -0.2% 24.6% N/A

* Annualized

Total Return Ranking - Calendar

Period CMIRX Return Category Return Low Category Return High Rank in Category (%)
2022 N/A -59.9% 32.2% N/A
2021 N/A -14.8% 411.9% N/A
2020 N/A 1.5% 196.1% N/A
2019 N/A 5.5% 55.3% N/A
2018 N/A -32.3% 25.6% N/A

NAV & Total Return History


CMIRX - Holdings

Concentration Analysis

CMIRX Category Low Category High CMIRX % Rank
Net Assets 2.42 M 173 K 51.7 B 99.66%
Number of Holdings 29 6 1336 97.31%
Net Assets in Top 10 995 K 59 K 2.7 B 98.49%
Weighting of Top 10 42.37% 5.9% 100.0% 11.62%

Top 10 Holdings

  1. TRANSCAT, INC. 4.96%
  2. Construction Partners, Inc. 4.62%
  3. Vericel Corporation 4.33%
  4. MODEL N, INC. 4.29%
  5. U.S. Physical Therapy, Inc. 4.29%
  6. Digi International, Inc. 4.26%
  7. NV5 Global, Inc. 4.10%
  8. PROS Holdings, Inc. 4.00%
  9. Hillman Solutions Corporation 3.76%
  10. I3 Verticals, Inc. - Class A 3.75%

Asset Allocation

Weighting Return Low Return High CMIRX % Rank
Stocks
96.05% 77.52% 101.30% 72.10%
Cash
3.95% -1.30% 22.49% 33.45%
Preferred Stocks
0.00% 0.00% 3.43% 67.23%
Other
0.00% -1.57% 7.18% 71.76%
Convertible Bonds
0.00% 0.00% 1.57% 63.70%
Bonds
0.00% 0.00% 3.19% 62.86%

Stock Sector Breakdown

Weighting Return Low Return High CMIRX % Rank
Healthcare
34.77% 0.00% 47.90% 2.35%
Technology
31.97% 2.91% 75.51% 13.61%
Industrials
23.35% 0.00% 36.64% 8.07%
Communication Services
3.88% 0.00% 15.31% 22.02%
Financial Services
3.33% 0.00% 42.95% 85.21%
Consumer Cyclical
2.70% 0.00% 40.68% 97.82%
Utilities
0.00% 0.00% 5.57% 72.77%
Real Estate
0.00% 0.00% 15.31% 87.90%
Energy
0.00% 0.00% 55.49% 88.57%
Consumer Defense
0.00% 0.00% 13.56% 98.82%
Basic Materials
0.00% 0.00% 10.30% 92.94%

Stock Geographic Breakdown

Weighting Return Low Return High CMIRX % Rank
US
96.05% 67.06% 99.56% 65.38%
Non US
0.00% 0.00% 26.08% 71.76%

CMIRX - Expenses

Operational Fees

CMIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 9.08% 0.05% 27.56% 0.34%
Management Fee 1.00% 0.05% 4.05% 90.74%
12b-1 Fee 0.00% 0.00% 1.00% 15.15%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

CMIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

CMIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

CMIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 3.00% 439.00% N/A

CMIRX - Distributions

Dividend Yield Analysis

CMIRX Category Low Category High CMIRX % Rank
Dividend Yield 0.00% 0.00% 4.95% 63.03%

Dividend Distribution Analysis

CMIRX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Semi-Annually Annually

Net Income Ratio Analysis

CMIRX Category Low Category High CMIRX % Rank
Net Income Ratio N/A -4.08% 1.10% N/A

Capital Gain Distribution Analysis

CMIRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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CMIRX - Fund Manager Analysis

Managers

Joseph Monahan


Start Date

Tenure

Tenure Rank

Dec 17, 2021

0.45

0.5%

Joe is a Managing Partner and Co-Portfolio Manager for the Small Cap strategy.  He also serves as an analyst for the firm’s SMid and Mid Cap equity strategies. Joe is Conestoga’s Director of Research, where his responsibilities include coordinating the firm's fundamental research approach to selecting securities.  He joined Conestoga in December 2008 from McHugh Associates, where he was Senior Vice President/Portfolio Manager and a member of the firm’s Investment Committee.  Prior to joining McHugh in 2001, Joe was a Vice President and Portfolio Manager at Pitcairn Trust Company.  He is a graduate of the Pennsylvania State University, where he earned a Bachelor of Science degree, and he earned a Masters of Business Administration from Temple University.  He is a CFA Charterholder and a member of the CFA Society of Philadelphia.

David Neiderer


Start Date

Tenure

Tenure Rank

Dec 17, 2021

0.45

0.5%

David joined Conestoga Capital Advisors in July 2013 and became a Partner of the firm in 2018. He is a Co-Portfolio Manager for the firm’s Micro Cap Growth strategy and is also responsible for providing equity research for both the Small and SMid Cap equity strategies. Prior to Conestoga, David had similar responsibilities as a Research Analyst at both Penn Capital and Chartwell Investment Partners. While at Penn, David worked across the capital structure, making recommendations for both the equity and high yield credit portfolios. Earlier in his career, David was an Assistant Vice President

Robert Mitchell


Start Date

Tenure

Tenure Rank

Dec 17, 2021

0.45

0.5%

Bob is a Co-Founder and Managing Partner of Conestoga Capital Advisors, and Co-Portfolio Manager for the Small and SMid Cap strategies. Bob serves as Chief Investment Officer of the firm, overseeing all aspects of the portfolio management and investment processes. Prior to Conestoga, Bob was a Portfolio Manager/Analyst and Director of Equity Research at Martindale Andres & Company. Bob's portfolio management and research expertise was focused on small capitalization companies. While at Martindale Andres & Co., he was responsible for $100 Million in individual and institutional small cap accounts. Before his employment at Martindale Andres, Bob worked with the U.S. Department of Justice Antitrust Division where he analyzed the economic and financial aspects of various industries for evidence of antitrust violations. Bob received his M.B.A. from Indiana University's Kelley School of Business in 1995; in 1991, he received a B.A. from the University of Notre Dame.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.44 9.05 5.25