CONESTOGA SMALL CAP FUND
SCHEDULE OF INVESTMENTS
June 30, 2026 (Unaudited)
| COMMON STOCKS - 99.7% | Shares | Value | ||||||
| Basic Materials - 9.3% | ||||||||
| Metal Fabricating - 4.5% | ||||||||
| RBC Bearings, Inc. (a) | 144,040 | $ | 92,770,403 | |||||
| Specialty Chemicals - 4.8% | ||||||||
| Balchem Corporation | 508,950 | 85,987,102 | ||||||
| Perimeter Solutions, Inc. (a) | 335,675 | 11,966,814 | ||||||
| 97,953,916 | ||||||||
| Consumer Discretionary - 5.4% | ||||||||
| Consumer Electronics - 0.7% | ||||||||
| Knowles Corporation (a) | 321,390 | 13,331,257 | ||||||
| Education Services - 2.0% | ||||||||
| Bright Horizons Family Solutions, Inc. (a) | 110,250 | 7,814,520 | ||||||
| Universal Technical Institute, Inc. (a) | 783,645 | 33,516,497 | ||||||
| 41,331,017 | ||||||||
| Home Improvement Retailers - 2.7% | ||||||||
| SiteOne Landscape Supply, Inc. (a) | 476,530 | 54,519,797 | ||||||
| Consumer Staples - 0.8% | ||||||||
| Nondurable Household Products - 0.8% | ||||||||
| WD-40 Company | 70,000 | 17,054,800 | ||||||
| Energy - 2.4% | ||||||||
| Oil Crude Producers - 1.5% | ||||||||
| Magnolia Oil & Gas Corporation - Class A | 599,010 | 15,322,676 | ||||||
| Matador Resources Company | 322,575 | 16,057,783 | ||||||
| 31,380,459 | ||||||||
| Oil Equipment and Services - 0.9% | ||||||||
| Kodiak Gas Services, Inc. | 238,495 | 17,918,130 | ||||||
| Health Care - 17.2% | ||||||||
| Biotechnology - 2.8% | ||||||||
| Vericel Corporation (a) | 1,307,355 | 58,164,224 | ||||||
CONESTOGA SMALL CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
| COMMON STOCKS - 99.7% (Continued) | Shares | Value | ||||||
| Health Care - 17.2% (Continued) | ||||||||
| Medical Equipment - 11.3% | ||||||||
| Artivion, Inc. (a) | 962,620 | $ | 21,630,071 | |||||
| LeMaitre Vascular, Inc. | 869,016 | 83,390,775 | ||||||
| Merit Medical Systems, Inc. (a) | 958,075 | 66,432,921 | ||||||
| Repligen Corporation (a) | 431,645 | 58,893,644 | ||||||
| 230,347,411 | ||||||||
| Medical Supplies - 3.1% | ||||||||
| Stevanato Group S.p.A. | 3,484,751 | 62,969,450 | ||||||
| Industrials - 39.8% | ||||||||
| Building Materials: Other - 1.6% | ||||||||
| Simpson Manufacturing Company, Inc. | 159,600 | 33,412,260 | ||||||
| Building: Climate Control - 4.3% | ||||||||
| AAON, Inc. | 480,000 | 60,892,800 | ||||||
| Legence Corporation - Class A (a) | 326,360 | 27,815,663 | ||||||
| 88,708,463 | ||||||||
| Commercial Vehicles and Parts - 2.8% | ||||||||
| Federal Signal Corporation | 448,540 | 57,632,905 | ||||||
| Construction - 3.4% | ||||||||
| Construction Partners, Inc. - Class A (a) | 578,700 | 68,732,199 | ||||||
| Defense - 5.0% | ||||||||
| Karman Holdings, Inc. (a) | 375,615 | 18,750,701 | ||||||
| Mercury Systems, Inc. (a) | 684,463 | 83,730,359 | ||||||
| 102,481,060 | ||||||||
| Diversified Industrials - 7.6% | ||||||||
| CSW Industrials, Inc. | 207,000 | 57,608,100 | ||||||
| ESCO Technologies, Inc. | 277,000 | 96,961,080 | ||||||
| 154,569,180 | ||||||||
| Electronic Equipment: Control & Filter - 5.1% | ||||||||
| Helios Technologies, Inc. | 681,560 | 60,829,230 | ||||||
| MSA Safety, Inc. | 241,811 | 42,215,364 | ||||||
| 103,044,594 | ||||||||
CONESTOGA SMALL CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
| COMMON STOCKS - 99.7% (Continued) | Shares | Value | ||||||
| Industrials - 39.8% (Continued) | ||||||||
| Electronic Equipment: Gauges & Meters - 1.8% | ||||||||
| Mirion Technologies, Inc. (a) | 733,600 | $ | 13,153,448 | |||||
| Transcat, Inc. (a) | 260,744 | 24,189,221 | ||||||
| 37,342,669 | ||||||||
| Electronic Equipment: Other - 2.8% | ||||||||
| SPX Technologies, Inc. (a) | 230,000 | 56,389,100 | ||||||
| Engineering & Contracting Services - 1.6% | ||||||||
| Exponent, Inc. | 567,500 | 33,346,300 | ||||||
| Machinery: Industrial - 2.0% | ||||||||
| Enpro, Inc. | 52,810 | 19,905,673 | ||||||
| Kadant, Inc. | 63,375 | 19,914,326 | ||||||
| 39,819,999 | ||||||||
| Professional Business Support Services - 1.8% | ||||||||
| UL Solutions, Inc. - Class A | 360,000 | 36,669,600 | ||||||
| Real Estate - 3.8% | ||||||||
| Real Estate Services - 3.8% | ||||||||
| FirstService Corporation | 541,275 | 76,920,590 | ||||||
| Technology - 11.2% | ||||||||
| Computer Services - 0.4% | ||||||||
| Workiva, Inc. (a) | 172,125 | 8,349,784 | ||||||
| Production Technology Equipment - 4.6% | ||||||||
| Novanta, Inc. (a) | 576,290 | 93,497,290 | ||||||
| Software - 6.2% | ||||||||
| Agilysys, Inc. (a) | 270,000 | 28,215,000 | ||||||
| Descartes Systems Group, Inc. (The) (a) | 825,840 | 57,181,161 | ||||||
| nCino, Inc. (a) | 912,040 | 14,911,854 | ||||||
| Q2 Holdings, Inc. (a) | 555,870 | 26,737,347 | ||||||
| 127,045,362 | ||||||||
CONESTOGA SMALL CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
| COMMON STOCKS - 99.7% (Continued) | Shares | Value | ||||||
| Telecommunications - 4.8% | ||||||||
| Telecommunications Equipment - 4.8% | ||||||||
| Digi International, Inc. (a) | 1,316,245 | $ | 98,652,563 | |||||
| Utilities - 5.0% | ||||||||
| Waste & Disposal Services - 5.0% | ||||||||
| Casella Waste Systems, Inc. - Class A (a) | 1,059,740 | 102,762,988 | ||||||
| Total Investments at Value - 99.7% (Cost $1,009,387,920) | $ | 2,037,117,770 | ||||||
| Other Assets in Excess of Liabilities - 0.3% | 5,581,602 | |||||||
| Net Assets - 100.0% | $ | 2,042,699,372 | ||||||
| (a) | Non-income producing security. |
Schedule of Investments uses the Russell ICB Industry and Sector classification.
CONESTOGA SMID CAP FUND
SCHEDULE OF INVESTMENTS
June 30, 2026 (Unaudited)
| COMMON STOCKS - 99.7% | Shares | Value | ||||||
| Basic Materials - 8.8% | ||||||||
| Metal Fabricating - 4.7% | ||||||||
| RBC Bearings, Inc. (a) | 35,000 | $ | 22,542,100 | |||||
| Specialty Chemicals - 4.1% | ||||||||
| Balchem Corporation | 115,100 | 19,446,145 | ||||||
| Consumer Discretionary - 10.3% | ||||||||
| Consumer Electronics - 1.1% | ||||||||
| Knowles Corporation (a) | 123,960 | 5,141,861 | ||||||
| Consumer Services: Miscellaneous - 3.4% | ||||||||
| Rollins, Inc. | 388,725 | 16,225,382 | ||||||
| Education Services - 0.9% | ||||||||
| Bright Horizons Family Solutions, Inc. (a) | 65,050 | 4,610,744 | ||||||
| Home Improvement Retailers - 1.9% | ||||||||
| SiteOne Landscape Supply, Inc. (a) | 78,490 | 8,980,041 | ||||||
| Recreational Products - 1.5% | ||||||||
| Pool Corporation | 33,585 | 7,217,416 | ||||||
| Recreational Vehicles & Boats - 1.5% | ||||||||
| LCI Industries | 67,500 | 7,146,900 | ||||||
| Energy - 1.9% | ||||||||
| Oil Crude Producers - 0.7% | ||||||||
| Permian Resources Corporation - Class A | 190,540 | 3,507,841 | ||||||
| Oil Equipment and Services - 0.6% | ||||||||
| Kodiak Gas Services, Inc. | 36,270 | 2,724,965 | ||||||
| Pipelines - 0.6% | ||||||||
| DT Midstream, Inc. | 19,425 | 2,850,425 | ||||||
CONESTOGA SMID CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
| COMMON STOCKS - 99.7% (Continued) | Shares | Value | ||||||
| Health Care - 12.9% | ||||||||
| Medical Equipment - 6.0% | ||||||||
| Merit Medical Systems, Inc. (a) | 192,433 | $ | 13,343,304 | |||||
| Repligen Corporation (a) | 114,490 | 15,621,016 | ||||||
| 28,964,320 | ||||||||
| Medical Supplies - 6.9% | ||||||||
| Bio-Techne Corporation | 93,210 | 6,585,287 | ||||||
| Stevanato Group S.p.A. | 596,192 | 10,773,189 | ||||||
| West Pharmaceutical Services, Inc. | 43,460 | 15,602,140 | ||||||
| 32,960,616 | ||||||||
| Industrials - 40.0% | ||||||||
| Aerospace - 2.8% | ||||||||
| HEICO Corporation - Class A | 51,780 | 13,354,580 | ||||||
| Building Materials: Other - 1.9% | ||||||||
| Simpson Manufacturing Company, Inc. | 44,550 | 9,326,542 | ||||||
| Building: Climate Control - 4.9% | ||||||||
| AAON, Inc. | 87,870 | 11,147,188 | ||||||
| Watsco, Inc. | 29,550 | 12,314,372 | ||||||
| 23,461,560 | ||||||||
| Construction - 4.0% | ||||||||
| Construction Partners, Inc. - Class A (a) | 159,595 | 18,955,098 | ||||||
| Defense - 4.7% | ||||||||
| Karman Holdings, Inc. (a) | 80,715 | 4,029,293 | ||||||
| Mercury Systems, Inc. (a) | 152,500 | 18,655,325 | ||||||
| 22,684,618 | ||||||||
| Diversified Industrials - 3.2% | ||||||||
| CSW Industrials, Inc. | 55,200 | 15,362,160 | ||||||
| Electrical Components - 0.7% | ||||||||
| Forgent Power Solutions, Inc. - Class A (a) | 58,500 | 3,267,810 | ||||||
| Electronic Equipment: Control & Filter - 2.5% | ||||||||
| MSA Safety, Inc. | 67,270 | 11,743,997 | ||||||
CONESTOGA SMID CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
| COMMON STOCKS - 99.7% (Continued) | Shares | Value | ||||||
| Industrials - 40.0% (Continued) | ||||||||
| Electronic Equipment: Other - 3.6% | ||||||||
| SPX Technologies, Inc. (a) | 69,530 | $ | 17,046,670 | |||||
| Engineering & Contracting Services - 1.7% | ||||||||
| Exponent, Inc. | 138,630 | 8,145,899 | ||||||
| Machinery: Industrial - 3.9% | ||||||||
| EVI Industries, Inc. | 266,247 | 3,935,131 | ||||||
| JBT Marel Corporation | 63,105 | 9,150,225 | ||||||
| Kadant, Inc. | 18,380 | 5,775,547 | ||||||
| 18,860,903 | ||||||||
| Machinery: Specialty - 2.1% | ||||||||
| Graco, Inc. | 132,240 | 9,998,666 | ||||||
| Professional Business Support Services - 1.7% | ||||||||
| UL Solutions, Inc. - Class A | 80,870 | 8,237,418 | ||||||
| Transaction Processing Services - 2.3% | ||||||||
| Jack Henry & Associates, Inc. | 79,545 | 10,956,528 | ||||||
| Real Estate - 4.1% | ||||||||
| Real Estate Services - 4.1% | ||||||||
| FirstService Corporation | 137,275 | 19,508,150 | ||||||
| Technology - 16.7% | ||||||||
| Computer Services - 1.6% | ||||||||
| CACI International, Inc. - Class A (a) | 11,890 | 5,508,161 | ||||||
| Workiva, Inc. - Class A (a) | 45,000 | 2,182,950 | ||||||
| 7,691,111 | ||||||||
| Production Technology Equipment - 4.2% | ||||||||
| Novanta, Inc. (a) | 124,520 | 20,202,125 | ||||||
| Software - 10.9% | ||||||||
| Descartes Systems Group, Inc. (The) (a) | 191,960 | 13,291,311 | ||||||
| Guidewire Software, Inc. (a) | 87,000 | 10,705,350 | ||||||
| nCino, Inc. (a) | 227,540 | 3,720,279 | ||||||
CONESTOGA SMID CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
| COMMON STOCKS - 99.7% (Continued) | Shares | Value | ||||||
| Technology - 16.7% (Continued) | ||||||||
| Software - 10.9% (Continued) | ||||||||
| Procore Technologies, Inc. (a) | 137,755 | $ | 5,595,608 | |||||
| Q2 Holdings, Inc. (a) | 170,000 | 8,177,000 | ||||||
| Tyler Technologies, Inc. (a) | 36,540 | 10,686,488 | ||||||
| 52,176,036 | ||||||||
| Utilities - 5.0% | ||||||||
| Waste & Disposal Services - 5.0% | ||||||||
| Casella Waste Systems, Inc. - Class A (a) | 245,440 | 23,800,317 | ||||||
| Total Common Stocks (Cost $364,885,968) | $ | 477,098,944 | ||||||
| MONEY MARKET FUNDS - 0.2% | Shares | Value | ||||||
| Morgan Stanley Institutional Liquidity Fund - Advisory Class, 3.30% (b) (Cost $1,115,162) | 1,115,162 | $ | 1,115,162 | |||||
| Total Investments at Value - 99.9% (Cost $366,001,130) | $ | 478,214,106 | ||||||
| Other Assets in Excess of Liabilities - 0.1% | 501,557 | |||||||
| Net Assets - 100.0% | $ | 478,715,663 | ||||||
| (a) | Non-income producing security. |
| (b) | The rate shown is the 7-day effective yield as of June 30, 2026. |
Schedule of Investments uses the Russell ICB Industry and Sector classification.
CONESTOGA DISCOVERY FUND
SCHEDULE OF INVESTMENTS
June 30, 2026 (Unaudited)
| COMMON STOCKS - 97.5% | Shares | Value | ||||||
| Consumer Discretionary - 6.4% | ||||||||
| Education Services - 3.9% | ||||||||
| Universal Technical Institute, Inc. (a) | 5,125 | $ | 219,196 | |||||
| Specialty Retailers - 2.5% | ||||||||
| Oddity Tech Ltd. - Class A (a) | 9,410 | 142,374 | ||||||
| Consumer Staples - 8.5% | ||||||||
| Food Products - 5.3% | ||||||||
| Mama's Creations, Inc. (a) | 17,110 | 305,413 | ||||||
| Soft Drinks - 3.2% | ||||||||
| Vita Coco Company, Inc. (The) (a) | 2,735 | 180,893 | ||||||
| Energy - 2.3% | ||||||||
| Oil Equipment and Services - 2.3% | ||||||||
| NPK International, Inc. (a) | 8,350 | 132,849 | ||||||
| Financials - 4.2% | ||||||||
| Property & Casualty Insurance - 4.2% | ||||||||
| Palomar Holdings, Inc. (a) | 1,896 | 239,635 | ||||||
| Health Care - 25.7% | ||||||||
| Biotechnology - 13.5% | ||||||||
| Alpha Teknova, Inc. (a) | 29,276 | 166,288 | ||||||
| Twist Bioscience Corporation (a) | 3,100 | 318,928 | ||||||
| Vericel Corporation (a) | 6,454 | 287,138 | ||||||
| 772,354 | ||||||||
| Medical Equipment - 12.2% | ||||||||
| Artivion, Inc. (a) | 6,560 | 147,403 | ||||||
| BioLife Solutions, Inc. (a) | 8,539 | 241,141 | ||||||
| iRadimed Corporation | 1,955 | 186,820 | ||||||
| OrthoPediatrics Corporation (a) | 6,221 | 119,008 | ||||||
| 694,372 | ||||||||
CONESTOGA DISCOVERY FUND
SCHEDULE OF INVESTMENTS (Continued)
| COMMON STOCKS - 97.5% (Continued) | Shares | Value | ||||||
| Industrials - 36.1% | ||||||||
| Aerospace - 3.0% | ||||||||
| Park Aerospace Corporation | 4,510 | $ | 172,102 | |||||
| Construction - 2.7% | ||||||||
| Construction Partners, Inc. - Class A (a) | 1,303 | 154,757 | ||||||
| Electrical Components - 4.5% | ||||||||
| Electrovaya, Inc. (a) | 24,230 | 254,415 | ||||||
| Electronic Equipment: Gauges & Meters - 4.5% | ||||||||
| Transcat, Inc. (a) | 2,745 | 254,654 | ||||||
| Engineering & Contracting Services - 6.6% | ||||||||
| Bowman Consulting Group Ltd. (a) | 6,155 | 179,726 | ||||||
| Willdan Group, Inc. (a) | 2,516 | 199,016 | ||||||
| 378,742 | ||||||||
| Industrial Suppliers - 7.4% | ||||||||
| CryoPort, Inc. (a) | 14,759 | 231,716 | ||||||
| Hillman Solutions Corporation (a) | 22,630 | 190,997 | ||||||
| 422,713 | ||||||||
| Machinery: Industrial - 4.3% | ||||||||
| Graham Corporation (a) | 1,970 | 243,866 | ||||||
| Professional Business Support Services - 3.1% | ||||||||
| Onterris, Inc. (a) | 8,800 | 177,848 | ||||||
| Technology - 9.3% | ||||||||
| Computer Services - 2.7% | ||||||||
| Climb Global Solutions, Inc. | 6,690 | 155,275 | ||||||
| Software - 6.6% | ||||||||
| nCino, Inc. (a) | 6,675 | 109,136 | ||||||
| Q2 Holdings, Inc. (a) | 2,735 | 131,554 | ||||||
| TECSYS, Inc. | 6,145 | 134,391 | ||||||
| 375,081 | ||||||||
CONESTOGA DISCOVERY FUND
SCHEDULE OF INVESTMENTS (Continued)
| COMMON STOCKS - 97.5% (Continued) | Shares | Value | ||||||
| Telecommunications - 5.0% | ||||||||
| Telecommunications Equipment - 5.0% | ||||||||
| Digi International, Inc. (a) | 3,820 | $ | 286,309 | |||||
| Total Common Stocks (Cost $3,862,569) | $ | 5,562,848 | ||||||
| MONEY MARKET FUNDS - 2.0% | Shares | Value | ||||||
| Morgan Stanley Institutional Liquidity Fund - Advisory Class, 3.30% (b) (Cost $113,126) | 113,126 | $ | 113,126 | |||||
| Total Investments at Value - 99.5% (Cost $3,975,695) | $ | 5,675,974 | ||||||
| Other Assets in Excess of Liabilities - 0.5% | 26,559 | |||||||
| Net Assets - 100.0% | $ | 5,702,533 | ||||||
| (a) | Non-income producing security. |
| (b) | The rate shown is the 7-day effective yield as of June 30, 2026. |
Schedule of Investments uses the Russell ICB Industry and Sector classification.