Q1 2026 · 13F-HR
Montanaro Asset Management Ltdholdings as filed
Filed 2026-05-11 · accession 0001831133-26-000002
$334.4M
Reported value
42
Positions
2026-03-31
Period end
The Brief · Montanaro Asset Management Ltd · Q1 2026
AI · grounded in 13F
Montanaro Asset Management Ltd exited its position in TREX for a reduction of $10.6M. The fund also closed positions in BRKR and PAYC, totaling over $16M in combined sales. To offset these exits, the manager established new positions in VMI for $7.75M and WTS for $7.69M. Additionally, the fund increased its holdings in FSS by 79.7% and EXPO by 59.1%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| M7516K103 | NVMI | NOVA LTD | $20.9M | 6.25% | 48,130 | Common | NONE |
| 09073M104 | TECH | BIO-TECHNE CORP | $17.8M | 5.33% | 341,050 | Common | SOLE |
| 057665200 | BCPC | BALCHEM CORP | $16.7M | 5.00% | 98,700 | Common | SOLE |
| 441593100 | HLI | HOULIHAN LOKEY INC | $14.1M | 4.22% | 98,250 | Common | NONE |
| 08265T208 | BSY | BENTLEY SYS INC | $14.1M | 4.20% | 400,300 | Common | SOLE |
| 277276101 | EGP | EASTGROUP PPTYS INC | $14.0M | 4.19% | 75,600 | Common | NONE |
| 313855108 | FSS | FEDERAL SIGNAL CORP | $13.3M | 3.98% | 123,100 | Common | SOLE |
| 126402106 | CSW | CSW INDUSTRIALS INC | $13.0M | 3.88% | 49,800 | Common | NONE |
| 30214U102 | EXPO | EXPONENT INC | $12.5M | 3.74% | 191,800 | Common | NONE |
| 030420103 | AWK | AMERICAN WTR WKS CO INC NEW | $12.2M | 3.66% | 89,840 | Common | SOLE |
| 86333M108 | LRN | STRIDE INC | $11.0M | 3.30% | 125,300 | Common | NONE |
| 775711104 | ROL | ROLLINS INC | $10.8M | 3.24% | 203,000 | Common | NONE |
| 562750109 | MANH | MANHATTAN ASSOCIATES INC | $10.6M | 3.16% | 79,310 | Common | NONE |
| G3323L100 | FN | FABRINET | $10.4M | 3.12% | 20,000 | Common | NONE |
| 29362U104 | ENTG | ENTEGRIS INC | $9.6M | 2.87% | 81,900 | Common | NONE |
| 902252105 | TYL | TYLER TECHNOLOGIES INC | $9.4M | 2.80% | 27,325 | Common | NONE |
| 384109104 | GGG | GRACO INC | $9.3M | 2.78% | 110,000 | Common | NONE |
| 420261109 | HWKN | HAWKINS INC | $9.2M | 2.75% | 59,800 | Common | NONE |
| 302941109 | FCN | FTI CONSULTING INC | $8.8M | 2.64% | 50,000 | Common | NONE |
| 82982T106 | SITM | SITIME CORP | $8.6M | 2.58% | 25,000 | Common | NONE |
| 55354G100 | MSCI | MSCI INC | $8.4M | 2.52% | 15,650 | Common | SOLE |
| 89377M109 | TMDX | TRANSMEDICS GROUP INC | $7.8M | 2.34% | 78,739 | Common | SOLE |
| 920253101 | VMI | VALMONT INDS INC | $7.8M | 2.32% | 19,400 | Common | NONE |
| 942749102 | WTS | WATTS WATER TECHNOLOGIES INC | $7.7M | 2.30% | 26,500 | Common | NONE |
| 922475108 | VEEV | VEEVA SYS INC | $6.3M | 1.89% | 36,000 | Common | SOLE |
| 892672106 | TW | TRADEWEB MKTS INC | $6.3M | 1.87% | 53,150 | Common | SOLE |
| 011642105 | ALRM | ALARM COM HLDGS INC | $6.1M | 1.83% | 141,700 | Common | NONE |
| 60471A101 | MIR | MIRION TECHNOLOGIES INC | $5.7M | 1.70% | 305,300 | Common | NONE |
| 42226A107 | HQY | HEALTHEQUITY INC | $4.2M | 1.27% | 50,800 | Common | SOLE |
| 428291108 | HXL | HEXCEL CORP NEW | $3.4M | 1.02% | 42,000 | Common | NONE |
| 55293N109 | MDA | MDA SPACE LTD | $3.4M | 1.02% | 134,100 | Common | NONE |
| 893529107 | TRNS | TRANSCAT INC | $2.9M | 0.88% | 40,000 | Common | NONE |
| 861896108 | SNEX | STONEX GROUP INC | $2.4M | 0.72% | 30,000 | Common | NONE |
| 913915104 | UTI | UNIVERSAL TECHNICAL INST INC | $2.4M | 0.72% | 66,668 | Common | SOLE |
| T9224W109 | STVN | STEVANATO GROUP S P A | $2.4M | 0.72% | 175,000 | Common | NONE |
| 07831C103 | BRBR | BELLRING BRANDS INC | $2.3M | 0.67% | 140,000 | Common | NONE |
| 88162G103 | TTEK | TETRA TECH INC NEW | $2.2M | 0.64% | 71,500 | Common | SOLE |
| 49714P108 | KNSL | KINSALE CAP GROUP INC | $1.5M | 0.46% | 4,457 | Common | SOLE |
| 00790R104 | WMS | ADVANCED DRAIN SYS INC DEL | $1.5M | 0.44% | 10,800 | Common | SOLE |
| 056525108 | BMI | BADGER METER INC | $1.1M | 0.33% | 7,300 | Common | SOLE |
| 26622P107 | DOCS | DOXIMITY INC | $1.1M | 0.32% | 45,300 | Common | SOLE |
| 184496107 | CLH | CLEAN HARBORS INC | $1.0M | 0.31% | 3,600 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.