Conestoga Capital Advisors Mid Cap Strategy’s Q4 2023 Investor Letter

Conestoga Capital Advisors, an asset management company, released its “Mid Cap Strategy” fourth-quarter 2023 investor letter. The Mid Cap Composite rose 11.00% net of fees in the fourth quarter, compared to a 14.55% return for the Russell Midcap Growth Index. Negative impacts from stock selection were outweighed by positive sector allocation effects. The Mid Cap Composite climbed 22.83% for the year vs. the benchmark’s rise of 25.87%. Four sectors accounted for the majority of the relative performance; the largest laggards were the industrial and technology sectors, while health care and energy were additive to returns. In addition, please check the fund’s top five holdings to know its best picks in 2023.

A copy of Conestoga Capital Advisors Q4 2023 investor letter can be downloaded here.