MAM

Montanaro Asset Management Portfolio holdings

AUM $317M Turnover 21.28%
1-Year Est. Return 16.08%
This Fund
S&P 500
This Quarter Est. Return
+18.68%
1 Year Est. Return
+16.08%
3 Year Est. Return
+49.62%
5 Year Est. Return
+55.15%
10 Year Est. Return
–
AUM
$317M
AUM Growth
-$17.2M
Cap. Flow
-$56M
Cap. Flow %
-17.67%
Top 10 Hldgs %
45.4%
Holding
47
New
5
Increased
10
Reduced
27
Closed
5
Avg Time Held
2.5 years
Top 10 Avg Time Held
0.6 years
Top 20 Avg Time Held
1.5 years

Top Buys

Rank Stock Value
1
AYI icon
Acuity Brands
AYI
+$8.58M
2
SXT icon
Sensient Technologies
SXT
+$7.29M
3
WTS icon
Watts Water Technologies
WTS
+$6.11M
4
VMI icon
Valmont Industries
VMI
+$3.24M
5
KGS icon
Kodiak Gas Services
KGS
+$3.06M

Top Sells

Rank Stock Value
1
TECH icon
Bio-Techne
TECH
+$11.6M
2
TYL icon
Tyler Technologies
TYL
+$9.36M
3
FCN icon
FTI Consulting
FCN
+$8.84M
4
TMDX icon
Transmedics
TMDX
+$7.83M
5
NVMI icon
Nova
NVMI
+$7.07M

Sector Composition

Rank Sector Weight
1 Industrials 35.83%
2 Technology 25.18%
3 Materials 8.54%
4 Financials 8.09%
5 Healthcare 7.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
HQY icon
26
HealthEquity
HQY
$7.43B
$4.28M 1.35%
47,400
-3,400
-7% -$288K
2025 Q1
5 quarters
HWKN icon
27
Hawkins
HWKN
$2.74B
$4.23M 1.34%
29,800
-30,000
-50% -$4.74M
2024 Q4
6 quarters
CLH icon
28
Clean Harbors
CLH
$16.9B
$4.03M 1.27%
13,500
+9,900
+275% +$2.92M
2026 Q1
1 quarter
TW icon
29
Tradeweb Markets
TW
$23.4B
$3.94M 1.24%
39,500
-13,650
-26% -$1.48M
2024 Q2
8 quarters
GGG icon
30
Graco
GGG
$13B
$3.78M 1.19%
50,000
-60,000
-55% -$4.73M
2024 Q4
6 quarters
BELFB icon
31
Bel Fuse Inc Class B
BELFB
$3.23B
$3.66M 1.16%
+11,000
New +$2.97M
2026 Q2
0 quarters
KGS icon
32
Kodiak Gas Services
KGS
$5.06B
$3.38M 1.07%
+45,000
New +$3.06M
2026 Q2
0 quarters
HXL icon
33
Hexcel
HXL
$6.64B
$3.37M 1.06%
33,710
-8,290
-20% -$751K
2026 Q1
1 quarter
TRNS icon
34
Transcat
TRNS
$771M
$2.98M 0.94%
32,105
-7,895
-20% -$644K
2024 Q1
9 quarters
SNEX icon
35
StoneX
SNEX
$7.23B
$2.85M 0.9%
36,119
-8,881
-20% -$666K
2026 Q1
1 quarter
WMS icon
36
Advanced Drainage Systems
WMS
$9.44B
$2.81M 0.89%
17,900
+7,100
+66% +$1.01M
2021 Q3
19 quarters
TTEK icon
37
Tetra Tech
TTEK
$8.61B
$2.65M 0.84%
91,800
+20,300
+28% +$596K
2026 Q1
1 quarter
STVN icon
38
Stevanato
STVN
$5.27B
$2.54M 0.8%
140,459
-34,541
-20% -$584K
2024 Q1
9 quarters
UTI icon
39
Universal Technical Institute
UTI
$1.12B
$2.31M 0.73%
54,068
-12,600
-19% -$484K
2025 Q4
2 quarters
ESE icon
40
ESCO Technologies
ESE
$6.67B
$1.75M 0.55%
+5,000
New +$1.56M
2026 Q2
0 quarters
KNSL icon
41
Kinsale Capital Group
KNSL
$7.95B
$1.57M 0.49%
4,757
+300
+7% +$96.5K
2025 Q4
2 quarters
BMI icon
42
Badger Meter
BMI
$3.72B
$1.53M 0.48%
10,300
+3,000
+41% +$393K
2020 Q4
22 quarters
BRBR icon
43
BellRing Brands
BRBR
$1.01B
– –
-140,000
Closed -$2.25M –
DOCS icon
44
Doximity
DOCS
$5.33B
– –
-45,300
Closed -$1.06M –
FCN icon
45
FTI Consulting
FCN
$3.87B
– –
-50,000
Closed -$8.84M –
TMDX icon
46
Transmedics
TMDX
$2.62B
– –
-78,739
Closed -$7.83M –
TYL icon
47
Tyler Technologies
TYL
$14.3B
– –
-27,325
Closed -$9.36M –
1
2

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Montanaro Asset Management's Q2 2026 Portfolio in Review

As of Q2 2026, Montanaro Asset Management held 47 positions worth $317M, down 5.1% from $334M the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Montanaro Asset Management withdrew a net $56M in Q2 2026, closing 5 positions and reducing 27 holdings. Its most notable exit was Tyler Technologies, an estimated $9.36M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 36% of assets, up from 28% a quarter earlier, followed by Technology and Materials.

Against the trend, Montanaro Asset Management opened a new position in Acuity Brands worth $10.9M.

  • Montanaro Asset Management's largest Q2 2026 buy was Acuity Brands: 28,950 shares worth $10.9M.
  • Montanaro Asset Management added most to Watts Water Technologies in Q2 2026, an estimated $6.11M increase.
  • Montanaro Asset Management's biggest Q2 2026 reduction was Bio-Techne, cutting an estimated $11.6M.
  • Montanaro Asset Management fully exited Tyler Technologies in Q2 2026, selling an estimated $9.36M.
  • Montanaro Asset Management's ten largest holdings make up 45% of its $317M portfolio in Q2 2026.
  • Montanaro Asset Management opened 5 new positions and closed 5 in Q2 2026.
  • Montanaro Asset Management's portfolio value fell 5.1% quarter-over-quarter to $317M.

Based on Montanaro Asset Management's 13F filing for Q2 2026, filed 12 Aug 2026.