Latest Montanaro Asset Management Ltd Stock Portfolio

Montanaro Asset Management Ltd Performance:

2025 Q4: -7.59%YTD: -5.63%2024: 1.63%

Performance for 2025 Q4 is -7.59%, and YTD is -5.63%, and 2024 is 1.63%.

About Montanaro Asset Management Ltd and 13F Hedge Fund Stock Holdings

On 2026-03-10, the fund reported it's updated stock portfolio. In the 13F Holdings report, Montanaro Asset Management Ltd reported an equity portfolio of $358.8 Millions as of 31 Dec, 2025.

The top stock holdings of Montanaro Asset Management Ltd are NVMI, TECH, ROL. The fund has invested 5.8% of it's portfolio in NOVA LTD and 5.7% of portfolio in BIO-TECHNE CORP.

The fund managers got completely rid off FORMFACTOR INC (FORM) and MASIMO CORP (MASI) stocks. They significantly reduced their stock positions in ADVANCED DRAIN SYS INC DEL (WMS), ENERGY RECOVERY INC (ERII) and COGNEX CORP (CGNX). Montanaro Asset Management Ltd opened new stock positions in UNIVERSAL TECHNICAL INST INC (UTI) and KINSALE CAP GROUP INC (KNSL). The fund showed a lot of confidence in some stocks as they added substantially to ENTEGRIS INC (ENTG), FEDERAL SIGNAL CORP (FSS) and MIRION TECHNOLOGIES INC (MIR).

Montanaro Asset Management Ltd Annual Return Estimates Vs S&P 500

Our best estimate is that Montanaro Asset Management Ltd made a return of -7.59% in the last quarter. In trailing 12 months, it's portfolio return was -5.63%.

Performance
S&P 500

New Buys

Ticker	$ Bought
universal technical inst inc	1,157,560
kinsale cap group inc	1,095,140

New stocks bought by Montanaro Asset Management Ltd

Additions

Ticker	% Inc.
entegris inc	115
federal signal corp	65.86
mirion technologies inc	48.83
balchem corp	28.72
eastgroup pptys inc	28.65
doximity inc	27.95
csw industrials inc	15.5
healthequity inc	13.07

Additions to existing portfolio by Montanaro Asset Management Ltd

Reductions

Ticker	% Reduced
advanced drain sys inc del	-38.72
energy recovery inc	-37.65
cognex corp	-36.64
tyler technologies inc	-25.39
transmedics group inc	-21.94
bruker corp	-21.35
paycom software inc	-20.47
stride inc	-18.31

Montanaro Asset Management Ltd reduced stake in above stock

Sold off

Ticker	$ Sold
formfactor inc	-4,552,500
masimo corp	-1,912,250

Montanaro Asset Management Ltd got rid off the above stocks

Sector Distribution

Montanaro Asset Management Ltd has about 28.5% of it's holdings in Technology sector.

Sector	%
Technology	28.5
Industrials	19
Healthcare	15.3
Financial Services	9.6
Basic Materials	6.9
Others	6.8
Consumer Cyclical	5.1
Utilities	3.3
Consumer Defensive	3.1
Real Estate	2.4

Market Cap. Distribution

Montanaro Asset Management Ltd has about 43.3% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MID-CAP	46.8
LARGE-CAP	43.3
UNALLOCATED	6.8
SMALL-CAP	3.1

Stocks belong to which Index?

About 57.7% of the stocks held by Montanaro Asset Management Ltd either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	42.4
RUSSELL 2000	35.1
S&P 500	22.6

Top 5 Winners (%)		%
BRKR	bruker corp	40.2 %
FN	fabrinet	22.8 %
CSWI	csw industrials inc	19.2 %
SITM	sitime corp	17.2 %
TMDX	transmedics group inc	7.5 %

Top 5 Winners ($)		$
BRKR	bruker corp	2.9 M
FN	fabrinet	2.7 M
CSWI	csw industrials inc	2.2 M
SITM	sitime corp	1.8 M
TECH	bio-techne corp	1.1 M

Top 5 Losers (%)		%
LRN	stride inc	-51.2 %
DOCS	doximity inc	-36.7 %
TREX	trex co inc	-31.1 %
BRBR	bellring brands inc	-26.5 %
BSY	bentley sys inc	-25.9 %

Top 5 Losers ($)		$
LRN	stride inc	-10.1 M
BSY	bentley sys inc	-6.2 M
TREX	trex co inc	-5.2 M
VEEV	veeva sys inc	-3.0 M
MANH	manhattan associates inc	-3.0 M

Montanaro Asset Management Ltd Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Montanaro Asset Management Ltd

Montanaro Asset Management Ltd has 41 stocks in it's portfolio. About 46.3% of the portfolio is in top 10 stocks. LRN proved to be the most loss making stock for the portfolio. BRKR was the most profitable stock for Montanaro Asset Management Ltd last quarter.

Last Reported on: 10 Mar, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ALRM	alarm com hldgs inc	2.13	150,100	7,658,100	reduced	-8.64

AWK	american wtr wks co inc new	3.28	90,240	11,776,300	reduced	-7.48

BCPC	balchem corp	4.33	101,300	15,535,400	added	28.72

BMI	badger meter inc	0.58	12,000	2,092,920	unchanged	0.00

BRBR	bellring brands inc	0.82	110,000	2,940,300	unchanged	0.00

BRKR	bruker corp	2.28	173,500	8,173,580	reduced	-21.35

BSY	bentley sys inc	4.91	461,409	17,609,700	added	0.11

CGNX	cognex corp	0.42	42,012	1,511,590	reduced	-36.64

CSWI	csw industrials inc	3.78	46,200	13,561,100	added	15.5

DOCS	doximity inc	0.51	41,200	1,824,340	added	27.95

EGP	eastgroup pptys inc	2.36	47,600	8,479,460	added	28.65

ENTG	entegris inc	2.46	104,700	8,820,980	added	115

ERII	energy recovery inc	0.48	128,160	1,728,880	reduced	-37.65

EXPO	exponent inc	2.33	120,500	8,369,930	reduced	-0.9

FCN	fti consulting inc	2.38	50,000	8,541,500	unchanged	0.00

FN	fabrinet	3.49	27,500	12,520,200	reduced	-16.67

FORM	formfactor inc	0.00	0.00	0.00	sold off	-100

FSS	federal signal corp	2.07	68,500	7,438,420	added	65.86

GGG	graco inc	2.06	90,000	7,377,300	unchanged	0.00

HLI	houlihan lokey inc	4.74	97,650	17,009,700	added	9.72