# EDGAR Filing Document

**Accession Number:** 0001175813
**File Stem:** 0000910472-26-003434
**Filing Date:** 2026-2
**Character Count:** 45840
**Document Hash:** e9512c9e786cb7870826ecf3960f4f0e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-003434.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000910472-26-003434

**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:** 26699814

**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 SMid Cap Fund (Series ID: S000043859)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000136096 | Investors Class     | CCSMX           |
| C000136097 | Institutional Class | CCSGX           |

## 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 SMID CAP FUND

- **b. EDGAR series identifier (if any):** S000043859

- **c. LEI of Series:** 549300CB1FJVWE1XZD25

**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:** $583089036.92

**Total Liabilities:** $486129.20

**Net Assets:** $582602907.72

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000136096 | -2.01%               | -0.62%               | -0.41%               |
| Class ID C000136097 | -2.00%               | -0.60%               | -0.36%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-331624.03              | $-12106356.42                              |
| Month 2  | $-2034098.42             | $-1809363.84                               |
| Month 3  | $52577.13                | $-2017755.41                               |

### 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        |     97800 | NS      | $7457250.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                                 | Balchem Corporation                         | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |    105965 | NS      | $16250792.40  | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                              | Bio-Techne Corporation                      | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |    130000 | NS      | $7645300.00   | 1.31%             |  |  |  | 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        |    136935 | NS      | $13885209.00  | 2.38%             |  |  |  | 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        |   1342220 | NS      | $10670649.00  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc.                         | CSW Industrials, Inc.                       | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |     61630 | NS      | $18090253.90  | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems, Inc.                  | Casella Waste Systems, Inc.                 | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |    290955 | NS      | $28496132.70  | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics Holdings Inc            | Clearwater Analytics Holdings, Inc.         | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    542995 | NS      | $13097039.40  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Construction Partners Inc.                   | Construction Partners, Inc.                 | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               | CORP              | US        |    204215 | NS      | $22167538.25  | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Descartes Systems Group Inc.                 | Descartes Systems Group, Inc. (The)         | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |    220100 | NS      | $19293966.00  | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| EVI Industries Inc.                          | EVI Industries, Inc.                        | CUSIP: 26929N102<br>LEI: 549300RU296J63VW0297 | Long             | EC               | CORP              | US        |    408047 | NS      | $10054278.08  | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Exponent Inc                                 | Exponent, Inc.                              | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |    215065 | NS      | $14938414.90  | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp.                           | FirstService Corporation                    | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |    126590 | NS      | $19688542.70  | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                                    | Graco, Inc.                                 | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |    192690 | NS      | $15794799.30  | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc                       | Guidewire Software, Inc.                    | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |     93000 | NS      | $18693930.00  | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Heico Corp                                   | HEICO Corporation Class A                   | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |     68000 | NS      | $17165240.00  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Jack & Associates Inc.                 | Jack Henry & Associates, Inc.               | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |     85355 | NS      | $15575580.40  | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| JBT Marel Corp.                              | JBT Marel Corporation                       | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |     66445 | NS      | $10011268.15  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Kadant Inc                                   | Kadant, Inc.                                | CUSIP: 48282T104<br>LEI: 549300K06LNJYBMPYP15 | Long             | EC               | CORP              | US        |     18660 | NS      | $5318473.20   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings Inc.                         | Karman Holdings, Inc.                       | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50700 | NS      | $3709719.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                               | LCI Industries                              | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |     70000 | NS      | $8493800.00   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc.                              | MSA Safety, Inc.                            | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |     73690 | NS      | $11800716.60  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc                          | MERCURY SYSTEMS INCORPORATED                | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |    244000 | NS      | $17814440.00  | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc.                   | Merit Medical Systems, Inc.                 | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |    195453 | NS      | $17227227.42  | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Liquidity Funds | Morgan Stanley Institutional Liquidity Fund | CUSIP: 61747C608<br>LEI: 5493000A332Y142SOW84 | Long             | STIV             | RF                | US        |   1501446 | PA      | $1501446.07   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Ncino Inc.                                   | nCino, Inc.                                 | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Long             | EC               | CORP              | US        |    244810 | NS      | $6276928.40   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                                  | Novanta, Inc.                               | CUSIP: 67000B104<br>LEI: 549300NBPHPTUPTS8070 | Long             | EC               | CORP              | US        |    106605 | NS      | $12684928.95  | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corporation                | Paylocity Holding Corporation               | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |     45375 | NS      | $6919687.50   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corporation                             | Pool Corporation                            | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |     52000 | NS      | $11895000.00  | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc                     | Procore Technologies, Inc.                  | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |    139235 | NS      | $10127953.90  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings Inc                              | Q2 Holdings, Inc.                           | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |    198250 | NS      | $14305720.00  | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                             | RBC Bearings, Inc.                          | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58650 | NS      | $26300419.50  | 4.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corporation                         | Repligen Corporation                        | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |    115820 | NS      | $18978265.20  | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                                  | Rollins, Inc.                               | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |    394145 | NS      | $23656582.90  | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce Inc                             | SPS Commerce, Inc.                          | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |     60339 | NS      | $5378015.07   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies, Inc.                       | SPX Technologies, Inc.                      | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76560 | NS      | $15316593.60  | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc.                | Simpson Manufacturing Company, Inc.         | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |     76255 | NS      | $12312894.85  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Siteone Landscape Supply Inc                 | SiteOne Landscape Supply, Inc.              | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |     88000 | NS      | $10961280.00  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc.                      | Tyler Technologies, Inc.                    | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |     38510 | NS      | $17481614.50  | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                                   | Watsco, Inc.                                | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |     41265 | NS      | $13904241.75  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services Incorporated    | West Pharmaceutical Services, Inc.          | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |     43980 | NS      | $12100657.20  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Workiva Inc                                  | Workiva, Inc.                               | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |     84900 | NS      | $7322625.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Stevanato Group S.p.A.                       | Stevanato Group SpA                         | CUSIP: T9224W109<br>LEI: 81560033F7E1CD477507 | Long             | EC               | CORP              | IT        |    604112 | NS      | $12154733.44  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Daniel D. Bauer

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

**Title:** Assistant Treasurer