Conestoga Capital Advisors Mid Cap Strategy’s Q3 2025 Investor Letter

Conestoga Capital Advisors, an asset management company, released its third-quarter 2025 investor letter. Equity markets continued their momentum that began in early April, reaching new all-time highs in the third quarter. The Mid Cap Composite returned -3.2% net-of-fees in the third quarter, compared to a 2.8% gain for the Russell Midcap Growth Index. The strategy’s focus on high-quality, profitable companies struggled to keep pace in the quarter amid risk-on dominance. Please check the top 5 holdings of the fund for a better understanding of their best picks for 2025.

A copy of Conestoga Capital Advisors Mid Cap Strategy’s Q3 2025 investor letter can be downloaded here.