# EDGAR Filing Document

**Accession Number:** 0001175813
**File Stem:** 0000910472-26-003435
**Filing Date:** 2026-2
**Character Count:** 46518
**Document Hash:** 48d3d6caad0b80240cc3e7318301bf31
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-003435.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000910472-26-003435

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CONESTOGA FUNDS
- **CENTRAL INDEX KEY:** 0001175813

**ORGANIZATION NAME:**
- **EIN:** 223865089
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21120
- **FILM NUMBER:** 26699816

**BUSINESS ADDRESS:**
- **STREET 1:** 550 E. SWEDESFORD ROAD
- **STREET 2:** SUITE 120
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087
- **BUSINESS PHONE:** 6109439950

**MAIL ADDRESS:**
- **STREET 1:** 550 E. SWEDESFORD ROAD
- **STREET 2:** SUITE 120
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087

## Series and Classes Contracts Data

### Conestoga Small Cap Fund (Series ID: S000004756)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000012946 | Investors Class     | CCASX           |
| C000142731 | Institutional Class | CCALX           |

## Nport-Ex

**CONESTOGA SMALL CAP FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.5%** | **Shares** | **Value** |
| **Basic Materials - 7.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Metal Fabricating - 4.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RBC Bearings, Inc. <sup>(a)</sup> | 291175 | $130571605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Specialty Chemicals - 3.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Balchem Corporation | 626885 | 96139084 |
| **Consumer Discretionary - 4.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Education Services - 1.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bright Horizons Family Solutions, Inc. <sup>(a)</sup> | 508600 | 51572040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Home Improvement Retailers - 2.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SiteOne Landscape Supply, Inc. <sup>(a)</sup> | 572030 | 71252057 |
| **Consumer Staples - 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Nondurable Household Products - 1.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WD-40 Company | 209901 | 41329507 |
| **Financials - 2.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Financial Data Providers - 2.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clearwater Analytics Holdings, Inc. - Class A <sup>(a)</sup> | 3151413 | 76012082 |
| **Health Care - 13.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Biotechnology - 1.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vericel Corporation <sup>(a)</sup> | 1531475 | 55148415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Equipment - 8.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LeMaitre Vascular, Inc. | 984321 | 79828433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merit Medical Systems, Inc. <sup>(a)</sup> | 1064570 | 93831200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repligen Corporation <sup>(a)</sup> | 503935 | 82574789 |
|  |  | 256234422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Supplies - 3.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stevanato Group S.p.A. <sup>(b)</sup> | 4423906 | 89008988 |

---

**CONESTOGA SMALL CAP FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.5% (Continued)** | **Shares** | **Value** |
| **Industrials - 38.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Building Materials: Other - 2.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Simpson Manufacturing Company, Inc. | 437865 | $70702062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Building: Climate Control - 2.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AAON, Inc. | 1025462 | 78191478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Commercial Vehicles and Parts - 2.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Signal Corporation | 684675 | 74348858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Construction - 3.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Construction Partners, Inc. - Class A <sup>(a)</sup> | 992267 | 107710583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Defense - 3.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Karman Holdings, Inc. <sup>(a)</sup> | 279000 | 20414430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mercury Systems, Inc. <sup>(a)</sup> | 1059408 | 77347378 |
|  |  | 97761808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Diversified Industrials - 6.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSW Industrials, Inc. | 318300 | 93430599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ESCO Technologies, Inc. | 527215 | 103012539 |
|  |  | 196443138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electronic Equipment: Control & Filter - 5.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crane NXT Company | 704000 | 33137280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Helios Technologies, Inc. | 1085849 | 58082063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSA Safety, Inc. | 380000 | 60853200 |
|  |  | 152072543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electronic Equipment: Gauges & Meters - 2.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Badger Meter, Inc. | 91000 | 15871310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mirion Technologies, Inc. <sup>(a)</sup> | 1353005 | 31687377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transcat, Inc. <sup>(a)(b)</sup> | 626699 | 35552634 |
|  |  | 83111321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electronic Equipment: Other - 2.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPX Technologies, Inc. <sup>(a)</sup> | 383035 | 76629982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Engineering & Contracting Services - 2.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exponent, Inc. | 1219205 | 84685979 |

---

**CONESTOGA SMALL CAP FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.5% (Continued)** | **Shares** | **Value** |
| **Industrials - 38.7% (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Industrial Suppliers - 1.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hillman Solutions Corporation <sup>(a)</sup> | 3877612 | $33580120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Machinery: Industrial - 1.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kadant, Inc. | 115900 | 33033818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Professional Business Support Services - 1.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UL Solutions, Inc. - Class A | 714870 | 56374648 |
| **Real Estate - 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Real Estate Services - 3.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FirstService Corporation | 568660 | 88443690 |
| **Technology - 21.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Computer Services - 1.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Workiva, Inc. <sup>(a)</sup> | 584654 | 50426407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Production Technology Equipment - 4.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Azenta, Inc. <sup>(a)</sup> | 806537 | 26825421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novanta, Inc. <sup>(a)</sup> | 804740 | 95756012 |
|  |  | 122581433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Software - 15.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agilysys, Inc. <sup>(a)</sup> | 422586 | 50220120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackLine, Inc. <sup>(a)</sup> | 1282015 | 70882609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCC Intelligent Solutions Holdings, Inc. <sup>(a)</sup> | 5843050 | 46452248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Descartes Systems Group, Inc. (The) <sup>(a)</sup> | 1315146 | 115285699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;nCino, Inc. <sup>(a)</sup> | 1537250 | 39415090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Q2 Holdings, Inc. <sup>(a)</sup> | 887311 | 64028362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPS Commerce, Inc. <sup>(a)</sup> | 336793 | 30018360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vertex, Inc. - Class A <sup>(a)</sup> | 1598257 | 31917192 |
|  |  | 448219680 |
| **Telecommunications - 2.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Telecommunications Equipment - 2.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digi International, Inc. <sup>(a)(b)</sup> | 2016279 | 87284718 |

---

**CONESTOGA SMALL CAP FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.5% (Continued)** | **Shares** | **Value** |
| **Utilities - 4.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Waste & Disposal Services - 4.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Casella Waste Systems, Inc. - Class A <sup>(a)</sup> | 1359135 | $133113682 |
| **Total Common Stocks** (Cost $1,780,548,804) |  | $2941984148 |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 0.6%** | **Shares** | **Value** |
| Morgan Stanley Institutional Liquidity Fund - Advisory Class, 3.44% <sup>(c)</sup> (Cost $18,088,774) | 18088774 | $18088774 |
| **Total Investments at Value - 100.1%** (Cost $1,798,637,578) |  | $2960072922 |
| **Liabilities in Excess of Other Assets - (0.1%)** |  | (1767730) |
| **Net Assets - 100.0%** |  | $2958305192 |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> The Fund owned 5% or more of the company's outstanding voting shares thereby making the company an affiliate of the Fund as that term is defined in the Investment Company Act of 1940.

<sup>(c)</sup> The rate shown is the 7-day effective yield as of December 31, 2025.

*Schedule of Investments uses the Russell ICB Industry and Sector classification.* 

**CONESTOGA SMID CAP FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.8%** | **Shares** | **Value** |
| **Basic Materials - 7.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Metal Fabricating - 4.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RBC Bearings, Inc. <sup>(a)</sup> | 58650 | $26300420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Specialty Chemicals - 2.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Balchem Corporation | 105965 | 16250792 |
| **Consumer Discretionary - 11.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Consumer Services: Miscellaneous - 4.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rollins, Inc. | 394145 | 23656583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Education Services - 2.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bright Horizons Family Solutions, Inc. <sup>(a)</sup> | 136935 | 13885209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Home Improvement Retailers - 1.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SiteOne Landscape Supply, Inc. <sup>(a)</sup> | 88000 | 10961280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Recreational Products - 2.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool Corporation | 52000 | 11895000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Recreational Vehicles & Boats - 1.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LCI Industries | 70000 | 8493800 |
| **Financials - 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Financial Data Providers - 2.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clearwater Analytics Holdings, Inc. - Class A <sup>(a)</sup> | 542995 | 13097039 |
| **Health Care - 11.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Equipment - 6.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merit Medical Systems, Inc. <sup>(a)</sup> | 195453 | 17227227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repligen Corporation <sup>(a)</sup> | 115820 | 18978265 |
|  |  | 36205492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Supplies - 5.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bio-Techne Corporation | 130000 | 7645300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stevanato Group S.p.A. | 604112 | 12154734 |

---

**CONESTOGA SMID CAP FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.8% (Continued)** | **Shares** | **Value** |
| **Health Care - 11.7% (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Supplies - 5.5% (Continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;West Pharmaceutical Services, Inc. | 43980 | $12100657 |
|  |  | 31900691 |
| **Industrials - 37.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Aerospace - 2.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HEICO Corporation - Class A | 68000 | 17165240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Building Materials: Other - 2.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Simpson Manufacturing Company, Inc. | 76255 | 12312895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Building: Climate Control - 3.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AAON, Inc. | 97800 | 7457250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Watsco, Inc. | 41265 | 13904242 |
|  |  | 21361492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Construction - 3.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Construction Partners, Inc. - Class A <sup>(a)</sup> | 204215 | 22167538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Defense - 3.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Karman Holdings, Inc. <sup>(a)</sup> | 50700 | 3709719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mercury Systems, Inc. <sup>(a)</sup> | 244000 | 17814440 |
|  |  | 21524159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Diversified Industrials - 3.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSW Industrials, Inc. | 61630 | 18090254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electronic Equipment: Control & Filter - 2.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSA Safety, Inc. | 73690 | 11800717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electronic Equipment: Other - 2.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPX Technologies, Inc. <sup>(a)</sup> | 76560 | 15316594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Engineering & Contracting Services - 2.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exponent, Inc. | 215065 | 14938415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Machinery: Industrial - 4.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EVI Industries, Inc. | 408047 | 10054278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JBT Marel Corporation | 66445 | 10011268 |

---

**CONESTOGA SMID CAP FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.8% (Continued)** | **Shares** | **Value** |
| **Industrials - 37.5% (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Machinery: Industrial - 4.4% (Continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kadant, Inc. | 18660 | $5318473 |
|  |  | 25384019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Machinery: Specialty - 2.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Graco, Inc. | 192690 | 15794799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Professional Business Support Services - 1.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paylocity Holding Corporation <sup>(a)</sup> | 45375 | 6919687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Transaction Processing Services - 2.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jack Henry & Associates, Inc. | 85355 | 15575580 |
| **Real Estate - 3.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Real Estate Services - 3.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FirstService Corporation | 126590 | 19688543 |
| **Technology - 21.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Computer Services - 1.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Workiva, Inc. <sup>(a)</sup> | 84900 | 7322625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Production Technology Equipment - 2.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novanta, Inc. <sup>(a)</sup> | 106605 | 12684929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Software - 17.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCC Intelligent Solutions Holdings, Inc. <sup>(a)</sup> | 1342220 | 10670649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Descartes Systems Group, Inc. (The) <sup>(a)</sup> | 220100 | 19293966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guidewire Software, Inc. <sup>(a)</sup> | 93000 | 18693930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;nCino, Inc. <sup>(a)</sup> | 244810 | 6276928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Procore Technologies, Inc. <sup>(a)</sup> | 139235 | 10127954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Q2 Holdings, Inc. <sup>(a)</sup> | 198250 | 14305720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPS Commerce, Inc. <sup>(a)</sup> | 60339 | 5378015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tyler Technologies, Inc. <sup>(a)</sup> | 38510 | 17481615 |
|  |  | 102228777 |

---

**CONESTOGA SMID CAP FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.8% (Continued)** | **Shares** | **Value** |
| **Utilities - 4.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Waste & Disposal Services - 4.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Casella Waste Systems, Inc. - Class A <sup>(a)</sup> | 290955 | $28496133 |
| **Total Common Stocks** (Cost $446,907,129) |  | $581418702 |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 0.3%** | **Shares** | **Value** |
| Morgan Stanley Institutional Liquidity Fund - Advisory Class, 3.44% <sup>(b)</sup> (Cost $1,501,446) | 1501446 | $1501446 |
| **Total Investments at Value - 100.1%** (Cost $448,408,575) |  | $582920148 |
| **Liabilities in Excess of Other Assets - (0.1%)** |  | (317240) |
| **Net Assets - 100.0%** |  | $582602908 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of December 31, 2025.

*Schedule of Investments uses the Russell ICB Industry and Sector classification.* 

**CONESTOGA MID CAP FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 99.9%** | **Shares** | **Value** |
| Morgan Stanley Institutional Liquidity Fund - Advisory Class, 3.44% <sup>(a)</sup> (Cost $1,553,592) | 1553592 | $1553592 |
| **Other Assets in Excess of Liabilities - 0.1%** |  | 818 |
| **Net Assets - 100.0%** |  | $1554410 |

---

<sup>(a)</sup> The rate shown is the 7-day effective yield as of December 31, 2025.

**CONESTOGA DISCOVERY FUND**

**SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.5%** | **Shares** | **Value** |
| **Consumer Discretionary - 6.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Education Services - 4.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Technical Institute, Inc. <sup>(a)</sup> | 8800 | $229944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Specialty Retailers - 2.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oddity Tech Ltd. - Class A <sup>(a)</sup> | 3040 | 122147 |
| **Consumer Staples - 7.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Food Products - 4.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mama's Creations, Inc. <sup>(a)</sup> | 18280 | 246597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Soft Drinks - 2.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vita Coco Company, Inc. (The) <sup>(a)</sup> | 2920 | 154789 |
| **Financials - 5.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Property & Casualty Insurance - 5.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palomar Holdings, Inc. <sup>(a)</sup> | 2061 | 277740 |
| **Health Care - 24.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Biotechnology - 10.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alpha Teknova, Inc. <sup>(a)</sup> | 31806 | 120863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Twist Bioscience Corporation <sup>(a)</sup> | 5675 | 180011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vericel Corporation <sup>(a)</sup> | 7004 | 252214 |
|  |  | 553088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Health Care Facilities - 2.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Physical Therapy, Inc. | 1534 | 119790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Health Care Services - 3.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phreesia, Inc. <sup>(a)</sup> | 11105 | 187897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Equipment - 8.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioLife Solutions, Inc. <sup>(a)</sup> | 7834 | 189426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iRadimed Corporation | 2085 | 202829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OrthoPediatrics Corporation <sup>(a)</sup> | 4816 | 85532 |
|  |  | 477787 |

---

**CONESTOGA DISCOVERY FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.5% (Continued)** | **Shares** | **Value** |
| **Industrials - 35.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Construction - 2.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Construction Partners, Inc. - Class A <sup>(a)</sup> | 1423 | $154467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electrical Components - 3.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Electrovaya, Inc. <sup>(a)</sup> | 26270 | 207533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electronic Equipment: Control & Filter - 3.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy Recovery, Inc. <sup>(a)</sup> | 13345 | 180024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Electronic Equipment: Gauges & Meters - 3.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transcat, Inc. <sup>(a)</sup> | 2995 | 169906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Engineering & Contracting Services - 7.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bowman Consulting Group Ltd. <sup>(a)</sup> | 5725 | 189040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Willdan Group, Inc. <sup>(a)</sup> | 2006 | 207942 |
|  |  | 396982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Industrial Suppliers - 6.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CryoPort, Inc. <sup>(a)</sup> | 15949 | 153110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hillman Solutions Corporation <sup>(a)</sup> | 21380 | 185151 |
|  |  | 338261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Professional Business Support Services - 5.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Montrose Environmental Group, Inc. <sup>(a)</sup> | 7140 | 177286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TIC Solutions, Inc. <sup>(a)</sup> | 10865 | 109845 |
|  |  | 287131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Security Services - 0.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SoundThinking, Inc. <sup>(a)</sup> | 5373 | 43145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Transaction Processing Services - 3.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I3 Verticals, Inc. - Class A <sup>(a)</sup> | 7282 | 183434 |
| **Technology - 15.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Computer Services - 2.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Climb Global Solutions, Inc. | 1330 | 136711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Software - 13.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N-able, Inc. <sup>(a)</sup> | 25210 | 188571 |

---

**CONESTOGA DISCOVERY FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.5% (Continued)** | **Shares** | **Value** |
| **Technology - 15.5% (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Software - 13.0% (Continued)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Planet Labs PBC - Class A <sup>(a)</sup> | 8275 | $163183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Q2 Holdings, Inc. <sup>(a)</sup> | 2960 | 213594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TECSYS, Inc. | 6675 | 148852 |
|  |  | 714200 |
| **Telecommunications - 3.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Telecommunications Equipment - 3.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digi International, Inc. <sup>(a)</sup> | 4170 | 180519 |
| **Total Common Stocks** (Cost $4,382,021) |  | $5362092 |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 2.6%** | **Shares** | **Value** |
| Morgan Stanley Institutional Liquidity Fund - Advisory Class, 3.44% <sup>(b)</sup> (Cost $145,129) | 145129 | $145129 |
| **Total Investments at Value - 100.1%** (Cost $4,527,150) |  | $5507221 |
| **Liabilities in Excess of Other Assets - (0.1%)** |  | (3890) |
| **Net Assets - 100.0%** |  | $5503331 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of December 31, 2025.

*Schedule of Investments uses the Russell ICB Industry and Sector classification.*

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Conestoga Funds

- **b. Investment Company Act file number:** 811-21120

- **c. CIK number of Registrant:** 0001175813

- **d. LEI of Registrant:** 254900HISFTK3A613G41

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 550 E. Swedesford Road

  - **City:** Wayne

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19087

  - **Telephone number:** 800-320-7790

**Item A.2. Information about the Series.**

- **a. Name of Series:** CONESTOGA SMALL CAP FUND

- **b. EDGAR series identifier (if any):** S000004756

- **c. LEI of Series:** 54930035JMPSKAMH8V81

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $2960906456.76

**Total Liabilities:** $2601265.06

**Net Assets:** $2958305191.70

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012946 | 0.54%                | -0.51%               | -2.09%               |
| Class ID C000142731 | 0.57%                | -0.48%               | -2.09%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2281935.95             | $22594105.88                               |
| Month 2  | $75423584.51             | $-93060041.54                              |
| Month 3  | $56072249.49             | $-118490817.50                             |

### Schedule of Portfolio Investments

| Name                                         | Title                                       | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Aaon Inc                                     | AAON, Inc.                                  | CUSIP: 000360206<br>LEI: 549300ZHF0E5VM7PUD37 | Long             | EC               | CORP              | US        |   1025462 | NS      | $78191477.50  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                                 | Agilysys, Inc.                              | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |    422586 | NS      | $50220120.24  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc                             | Badger Meter, Inc.                          | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |     91000 | NS      | $15871310.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                                 | Balchem Corporation                         | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |    626885 | NS      | $96139083.60  | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackline Inc                                | BlackLine, Inc.                             | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Long             | EC               | CORP              | US        |   1282015 | NS      | $70882609.35  | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutions Inc Del     | Bright Horizons Family Solutions, Inc.      | CUSIP: 109194100<br>LEI: 254900BHOU40CFNXWQ75 | Long             | EC               | CORP              | US        |    508600 | NS      | $51572040.00  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Azenta Inc                                   | Azenta, Inc.                                | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |    806537 | NS      | $26825420.62  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CCC Intelligent Solutions Holdings Inc       | CCC Intelligent Solutions Holdings, Inc.    | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   5843050 | NS      | $46452247.50  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc.                         | CSW Industrials, Inc.                       | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |    318300 | NS      | $93430599.00  | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems, Inc.                  | Casella Waste Systems, Inc.                 | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |   1359135 | NS      | $133113681.90 | 4.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics Holdings Inc            | Clearwater Analytics Holdings, Inc.         | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3151413 | NS      | $76012081.56  | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Construction Partners Inc.                   | Construction Partners, Inc.                 | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               | CORP              | US        |    992267 | NS      | $107710582.85 | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane NXT Co                                 | Crane NXT Company                           | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |    704000 | NS      | $33137280.00  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Descartes Systems Group Inc.                 | Descartes Systems Group, Inc. (The)         | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |   1315146 | NS      | $115285698.36 | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc.                      | Digi International, Inc.                    | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |   2016279 | NS      | $87284717.91  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc.                       | ESCO Technologies, Inc.                     | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |    527215 | NS      | $103012538.85 | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Exponent Inc                                 | Exponent, Inc.                              | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |   1219205 | NS      | $84685979.30  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Signal Corp.                         | Federal Signal Corporation                  | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |    684675 | NS      | $74348858.25  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp.                           | FirstService Corporation                    | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |    568660 | NS      | $88443689.80  | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Helios Technologies Inc                      | Helios Technologies, Inc.                   | CUSIP: 42328H109<br>LEI: 5493000BCJSMIDRNTI78 | Long             | EC               | CORP              | US        |   1085849 | NS      | $58082063.01  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillman Solutions Corp                       | Hillman Solutions Corporation               | CUSIP: 431636109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3877612 | NS      | $33580119.92  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Kadant Inc                                   | Kadant, Inc.                                | CUSIP: 48282T104<br>LEI: 549300K06LNJYBMPYP15 | Long             | EC               | CORP              | US        |    115900 | NS      | $33033818.00  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings Inc.                         | Karman Holdings, Inc.                       | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    279000 | NS      | $20414430.00  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Lemaitre Vascular Inc.                       | LeMaitre Vascular, Inc.                     | CUSIP: 525558201<br>LEI: 549300FZUBUB7MHY8R17 | Long             | EC               | CORP              | US        |    984321 | NS      | $79828433.10  | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc.                              | MSA Safety, Inc.                            | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |    380000 | NS      | $60853200.00  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc                          | MERCURY SYSTEMS INCORPORATED                | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |   1059408 | NS      | $77347378.08  | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc.                   | Merit Medical Systems, Inc.                 | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |   1064570 | NS      | $93831199.80  | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc                      | Mirion Technologies, Inc.                   | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |   1353005 | NS      | $31687377.10  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Liquidity Funds | Morgan Stanley Institutional Liquidity Fund | CUSIP: 61747C608<br>LEI: 5493000A332Y142SOW84 | Long             | STIV             | RF                | US        |  18088774 | PA      | $18088774.24  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Ncino Inc.                                   | nCino, Inc.                                 | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Long             | EC               | CORP              | US        |   1537250 | NS      | $39415090.00  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                                  | NOVANTA INCORPORATED                        | CUSIP: 67000B104<br>LEI: 549300NBPHPTUPTS8070 | Long             | EC               | CORP              | US        |    804740 | NS      | $95756012.60  | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings Inc                              | Q2 Holdings, Inc.                           | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |    887311 | NS      | $64028361.76  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                             | RBC Bearings, Inc.                          | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    291175 | NS      | $130571605.25 | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corporation                         | Repligen Corporation                        | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |    503935 | NS      | $82574789.10  | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce Inc                             | SPS Commerce, Inc.                          | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |    336793 | NS      | $30018360.09  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies, Inc.                       | SPX Technologies, Inc.                      | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    383035 | NS      | $76629982.10  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc.                | Simpson Manufacturing Company, Inc.         | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |    437865 | NS      | $70702061.55  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Siteone Landscape Supply Inc                 | SiteOne Landscape Supply, Inc.              | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |    572030 | NS      | $71252056.80  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Transcat Inc.                                | Transcat, Inc.                              | CUSIP: 893529107<br>LEI: 54930081E40TSSHUOS40 | Long             | EC               | CORP              | US        |    626699 | NS      | $35552634.27  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| UL Solutions Inc.                            | UL Solutions, Inc.                          | CUSIP: 903731107<br>LEI: 549300F7CUV5ESKV9P71 | Long             | EC               | CORP              | US        |    714870 | NS      | $56374648.20  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corporation                          | Vericel Corporation                         | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |   1531475 | NS      | $55148414.75  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Inc                                   | Vertex, Inc. Class A                        | CUSIP: 92538J106<br>LEI: 549300QMYW171MP1PL50 | Long             | EC               | CORP              | US        |   1598257 | NS      | $31917192.29  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| WD-40 Co.                                    | WD-40 Company                               | CUSIP: 929236107<br>LEI: 549300UZHTN0CNKBOB19 | Long             | EC               | CORP              | US        |    209901 | NS      | $41329506.90  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Workiva Inc                                  | Workiva, Inc.                               | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |    584654 | NS      | $50426407.50  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Stevanato Group S.p.A.                       | Stevanato Group SpA                         | CUSIP: T9224W109<br>LEI: 81560033F7E1CD477507 | Long             | EC               | CORP              | IT        |   4423906 | NS      | $89008988.72  | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

**Name of Applicant:** Conestoga Small Cap Fund

**Signature:** Daniel D. Bauer

**Name of Signer:** Daniel D. Bauer

**Title:** Assistant Treasurer