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MAM

Montanaro Asset Management Portfolio holdings

AUM $334M
1-Year Est. Return 12.52%
This Fund
S&P 500
This Quarter Est. Return
+12.52%
1 Year Est. Return
+12.52%
3 Year Est. Return
+37.38%
5 Year Est. Return
+44.93%
10 Year Est. Return
–
AUM
$532M
AUM Growth
-$36.9M
Cap. Flow
-$90M
Cap. Flow %
-16.94%
Top 10 Hldgs %
49.03%
Holding
45
New
–
Increased
10
Reduced
22
Closed
2

Top Buys

Rank Stock Value
1
SEDG icon
SolarEdge
SEDG
+$2.46M
2
SITM icon
SiTime
SITM
+$1.13M
3
BSY icon
Bentley Systems
BSY
+$925K
4
PCTY icon
Paylocity
PCTY
+$842K
5
ROL icon
Rollins
ROL
+$739K

Top Sells

Rank Stock Value
1
XPEL icon
XPEL
XPEL
+$8.86M
2
VEEV icon
Veeva Systems
VEEV
+$8.67M
3
ICLR icon
Icon
ICLR
+$8.31M
4
IEX icon
IDEX
IEX
+$6.86M
5
BMI icon
Badger Meter
BMI
+$6.41M

Sector Composition

Rank Sector Weight
1 Technology 38.1%
2 Healthcare 24.2%
3 Industrials 20.8%
4 Financials 6.55%
5 Materials 4.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BRKR icon
1
Bruker
BRKR
$9.14B
$34.2M 6.43%
465,300
-66,000
-12% -$4.23M
ICLR icon
2
Icon
ICLR
$13B
$32.9M 6.19%
116,200
-32,100
-22% -$8.31M
TECH icon
3
Bio-Techne
TECH
$11.2B
$28.2M 5.3%
365,300
-43,500
-11% -$2.87M
TREX icon
4
Trex
TREX
$4.57B
$27.5M 5.18%
332,500
-83,000
-20% -$5.51M
TYL icon
5
Tyler Technologies
TYL
$13B
$27.1M 5.09%
64,700
-7,050
-10% -$2.82M
ANSS
6
DELISTED
Ansys
ANSS
$25.9M 4.87%
71,375
-21,600
-23% -$6.4M
NVMI
7
Nova
NVMI
$13.6B
$24.9M 4.69%
181,500
-26,725
-13% -$3.09M
BCPC
8
Balchem Corp
BCPC
$5.29B
$22.5M 4.23%
151,000
-37,000
-20% -$4.73M
AWK icon
9
American Water Works
AWK
$26.3B
$20M 3.77%
151,750
+5,350
+4% +$675K
MSCI icon
10
MSCI
MSCI
$41.5B
$17.5M 3.29%
30,875
-2,625
-8% -$1.36M
HLI icon
11
Houlihan Lokey
HLI
$9.75B
$17.4M 3.27%
144,750
+3,750
+3% +$407K
BSY icon
12
Bentley Systems
BSY
$10.2B
$16M 3.01%
306,875
+18,000
+6% +$925K
EXPO icon
13
Exponent
EXPO
$3.04B
$15.5M 2.91%
175,500
-29,000
-14% -$2.38M
VEEV icon
14
Veeva Systems
VEEV
$31.6B
$15.3M 2.88%
79,550
-46,000
-37% -$8.67M
POWI icon
15
Power Integrations
POWI
$3.53B
$14.6M 2.75%
177,750
-31,250
-15% -$2.4M
ENTG icon
16
Entegris
ENTG
$19.2B
$14M 2.64%
117,000
-34,000
-23% -$3.45M
ALRM icon
17
Alarm.com
ALRM
$2.65B
$13.3M 2.5%
206,000
-57,000
-22% -$3.27M
CGNX icon
18
Cognex
CGNX
$10.2B
$13.2M 2.49%
316,500
+18,000
+6% +$692K
WMS icon
19
Advanced Drainage Systems
WMS
$11B
$13.1M 2.47%
93,500
-35,000
-27% -$4.22M
XYL icon
20
Xylem
XYL
$28.6B
$13M 2.45%
114,000
-35,000
-23% -$3.49M
ERII icon
21
Energy Recovery
ERII
$439M
$12.5M 2.35%
664,000
-184,250
-22% -$3.42M
MASI
22
DELISTED
Masimo
MASI
$12.2M 2.3%
104,250
-38,000
-27% -$3.54M
IEX icon
23
IDEX
IEX
$16.6B
$11.5M 2.16%
53,000
-34,000
-39% -$6.86M
SEDG icon
24
SolarEdge
SEDG
$2.62B
$10.8M 2.04%
115,675
+27,000
+30% +$2.46M
BMI icon
25
Badger Meter
BMI
$3.71B
$10.7M 2%
69,000
-44,000
-39% -$6.41M
1
2

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Montanaro Asset Management's Q4 2023 Portfolio in Review

As of Q4 2023, Montanaro Asset Management held 45 positions worth $532M, down 6.5% from $568M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Montanaro Asset Management withdrew a net $90M in Q4 2023, closing 2 positions and reducing 22 holdings. Its most notable exit was XPEL, an estimated $8.86M position sold in full.

By sector, the portfolio is most concentrated in Technology at 38% of assets, up from 37% a quarter earlier, followed by Healthcare and Industrials.

Against the trend, Montanaro Asset Management added an estimated $2.46M to SolarEdge.

  • Montanaro Asset Management added most to SolarEdge in Q4 2023, an estimated $2.46M increase.
  • Montanaro Asset Management's biggest Q4 2023 reduction was Veeva Systems, cutting an estimated $8.67M.
  • Montanaro Asset Management fully exited XPEL in Q4 2023, selling an estimated $8.86M.
  • Montanaro Asset Management's ten largest holdings make up 49% of its $532M portfolio in Q4 2023.
  • Montanaro Asset Management opened 0 new positions and closed 2 in Q4 2023.
  • Montanaro Asset Management's portfolio value fell 6.5% quarter-over-quarter to $532M.

Based on Montanaro Asset Management's 13F filing for Q4 2023, filed 9 Feb 2024.