Montanaro Asset Management Ltd Top Holdings and 13F Report (2024)

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About Montanaro Asset Management Ltd

Investment Activity

Montanaro Asset Management Ltd has $553.74 million in total holdings as of March 31, 2024.
Montanaro Asset Management Ltd owns shares of 44 different stocks, but just 22 companies or ETFs make up 80% of its holdings.
Approximately 5.67% of the portfolio was purchased this quarter.
About 8.27% of the portfolio was sold this quarter.
This quarter, Montanaro Asset Management Ltd has purchased 43 new stocks and bought additional shares in 17 stocks.
Montanaro Asset Management Ltd sold shares of 14 stocks and completely divested from 3 stocks this quarter.

Largest Holdings

Bruker: $38,139,640
Trex: $32,618,250
Tyler Technologies: $28,103,786
Nova: $26,092,598
ICON Public: $25,070,269

Largest New Holdings this Quarter

Stevanato Group: $5,819,730 Holding
FTI Consulting: $5,677,830 Holding
Transcat: $1,222,164 Holding
Globant: $116,093 Holding

Largest Purchases this Quarter

TransMedics Group: 89,150 shares (about $6.59M)
Stevanato Group: 181,300 shares (about $5.82M)
FTI Consulting: 27,000 shares (about $5.68M)
American Water Works: 19,000 shares (about $2.32M)
SolarEdge Technologies: 32,575 shares (about $2.31M)

Largest Sales this Quarter

ICON Public: 41,575 shares (about $13.97M)
Axon Enterprise: 30,075 shares (about $9.41M)
Nova: 34,400 shares (about $6.10M)
Bruker: 59,300 shares (about $5.57M)
Bio-Techne: 63,000 shares (about $4.43M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
BRKR Bruker	$38,139,640	$5,570,642 ▼	-12.7%	406,000	6.9%	Computer and Technology
TREX Trex	$32,618,250	$548,625 ▼	-1.7%	327,000	5.9%	Construction
TYL Tyler Technologies	$28,103,786	$605,639 ▲	2.2%	66,125	5.1%	Computer and Technology
NVMI Nova	$26,092,598	$6,101,872 ▼	-19.0%	147,100	4.7%	Computer and Technology
ICLR ICON Public	$25,070,269	$13,967,121 ▼	-35.8%	74,625	4.5%	Medical
ANSS ANSYS	$23,650,275	$1,128,270 ▼	-4.6%	68,125	4.3%	Computer and Technology
BCPC Balchem	$23,397,450		0.0%	151,000	4.2%	Basic Materials
TECH Bio-Techne	$21,278,897	$4,434,570 ▼	-17.2%	302,300	3.8%	Medical
AWK American Water Works	$20,867,358	$2,321,990 ▲	12.5%	170,750	3.8%	Utilities
HLI Houlihan Lokey	$18,747,788	$192,285 ▲	1.0%	146,250	3.4%	Finance
VEEV Veeva Systems	$17,689,532	$741,408 ▼	-4.0%	76,350	3.2%	Computer and Technology
ENTG Entegris	$17,317,479	$874,299 ▲	5.3%	123,221	3.1%	Computer and Technology
MSCI MSCI	$17,023,669	$280,225 ▼	-1.6%	30,375	3.1%	Computer and Technology
BSY Bentley Systems	$16,385,331	$360,318 ▲	2.2%	313,775	3.0%	Computer and Technology
MASI Masimo	$15,727,635	$418,523 ▲	2.7%	107,100	2.8%	Medical
ALRM Alarm.com	$15,682,508	$753,688 ▲	5.0%	216,400	2.8%	Industrial Products
WMS Advanced Drainage Systems	$15,587,720	$516,720 ▼	-3.2%	90,500	2.8%	Construction
CGNX Cognex	$15,476,937	$2,051,007 ▲	15.3%	364,850	2.8%	Computer and Technology
XYL Xylem	$14,991,840	$258,480 ▲	1.8%	116,000	2.7%	Industrial Products
EXPO Exponent	$14,512,095		0.0%	175,500	2.6%	Business Services
POWI Power Integrations	$13,676,783	$958,770 ▲	7.5%	191,150	2.5%	Computer and Technology
IEX IDEX	$12,933,060		0.0%	53,000	2.3%	Industrial Products
BMI Badger Meter	$11,415,696	$250,806 ▲	2.2%	70,550	2.1%	Computer and Technology
CSWI CSW Industrials	$10,557,000		0.0%	45,000	1.9%	Basic Materials
SEDG SolarEdge Technologies	$10,522,785	$2,312,174 ▲	28.2%	148,250	1.9%	Oils/Energy
ROL Rollins	$9,554,755	$231,350 ▲	2.5%	206,500	1.7%	Construction
ERII Energy Recovery	$8,005,530	$2,479,030 ▼	-23.6%	507,000	1.4%	Industrial Products
FN Fabrinet	$7,830,154	$269,354 ▲	3.6%	41,425	1.4%	Computer and Technology
TMDX TransMedics Group	$7,120,422	$6,591,751 ▲	1,246.9%	96,300	1.3%	Medical
SITM SiTime	$6,277,642	$20,044 ▼	-0.3%	67,335	1.1%	Computer and Technology
PCTY Paylocity	$6,015,100		0.0%	35,000	1.1%	Computer and Technology
FORM FormFactor	$5,952,434	$43,349 ▲	0.7%	130,450	1.1%	Computer and Technology
STVN Stevanato Group	$5,819,730	$5,819,730 ▲	New Holding	181,300	1.1%	Medical
FCN FTI Consulting	$5,677,830	$5,677,830 ▲	New Holding	27,000	1.0%	Business Services
FOXF Fox Factory	$2,863,850		0.0%	55,000	0.5%	Auto/Tires/Trucks
NRC National Research	$2,657,831		0.0%	67,100	0.5%	Business Services
PAYC Paycom Software	$2,313,491	$34,827 ▼	-1.5%	11,625	0.4%	Computer and Technology
INMD InMode	$2,161,000	$113,453 ▼	-5.0%	100,000	0.4%	Medical
TTGT TechTarget	$1,984,800		0.0%	60,000	0.4%	Computer and Technology
TRNS Transcat	$1,222,164	$1,222,164 ▲	New Holding	10,968	0.2%	Computer and Technology
AXON Axon Enterprise	$336,346	$9,409,866 ▼	-96.5%	1,075	0.1%	Industrial Products
ZS Zscaler	$284,129	$91,499 ▲	47.5%	1,475	0.1%	Computer and Technology
GLOB Globant	$116,093	$116,093 ▲	New Holding	575	0.0%	Computer and Technology
U Unity Software	$80,100		0.0%	3,000	0.0%	Computer and Technology
SWAV Shockwave Medical	$0	$161,976 ▼	-100.0%	0	0.0%	Medical
AMBA Ambarella	$0	$134,838 ▼	-100.0%	0	0.0%	Computer and Technology
MXCT MaxCyte	$0	$130,218 ▼	-100.0%	0	0.0%	Medical