Montanaro Asset Management Ltd
Filing Date
Global Rank
#3,260
/ 8,623
▼ 67
· as of Mar 2026
Top Industry
Software - Application
11.9%
3Y Alpha vs SPY
-20.6%
Period ended 4 months ago
Filed May 11, 2026 · 3mo
22 quarters · since Dec 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Cloned portfolio
-4.1%
SPY
+67.9%
Annualised alpha
-20.2%
Max drawdown
−26.1%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.
Portfolio Concentration
42 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
6.2%
+0.4 pts
Top 5
24.9%
−1.3 pts
Top 10
44.3%
−2.0 pts
HHI
332
Diversified−12
Portfolio Trend
22 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Industrials | 27.6% | $92,473,022 |
| Technology | 27.1% | $90,771,996 |
| Healthcare | 11.8% | $39,681,572 |
| Financial Services | 10.1% | $33,951,828 |
| Basic Materials | 7.7% | $25,912,956 |
| Consumer Defensive | 4.7% | $15,707,015 |
| Real Estate | 4.2% | $13,992,804 |
| Utilities | 3.6% | $12,226,325 |
| Consumer Cyclical | 3.2% | $10,842,230 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
14 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| EXPO | Exponent Inc | +71,300 | 191,800 | $12,514,950 | |
| FSS | Federal Signal Corp /De/ | +54,600 | 123,100 | $13,312,034 | |
| MIR | Mirion Technologies, Inc. | +49,900 | 305,300 | $5,675,527 | |
| BRBR | Bellring Brands, Inc. | +30,000 | 140,000 | $2,252,600 | |
| EGP | Eastgroup Properties Inc | +28,000 | 75,600 | $13,992,804 | |
| UTI | Universal Technical Institute Inc | +22,368 | 66,668 | $2,406,714 | |
| GGG | Graco Inc | +20,000 | 110,000 | $9,311,500 | |
| LRN | Stride, Inc. | +17,300 | 125,300 | $11,047,701 | |
| HQY | Healthequity, Inc. | +13,600 | 50,800 | $4,245,356 | |
| DOCS | Doximity, Inc. | +4,100 | 45,300 | $1,055,490 | |
| CSW | Csw Industrials, Inc. | +3,600 | 49,800 | $12,976,884 | |
| KNSL | Kinsale Capital Group, Inc. | +1,657 | 4,457 | $1,522,778 | |
| HLI | Houlihan Lokey, Inc. | +600 | 98,250 | $14,110,665 | |
| MSCI | MSCI Inc. | +500 | 15,650 | $8,435,506 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
18 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| ROL | Rollins Inc | −102,000 | 203,000 | $10,842,230 | |
| BSY | Bentley Systems Inc | −61,109 | 400,300 | $14,058,536 | |
| TMDX | TransMedics Group, Inc. | −23,200 | 78,739 | $7,827,443 | |
| ENTG | Entegris Inc | −22,800 | 81,900 | $9,601,956 | |
| TW | Tradeweb Markets Inc. | −16,350 | 53,150 | $6,253,629 | |
| MANH | Manhattan Associates Inc | −15,600 | 79,310 | $10,557,747 | |
| NVMI | Nova Ltd. | −15,500 | 48,130 | $20,901,896 | |
| SITM | SITIME Corp | −10,000 | 25,000 | $8,633,750 | |
| ALRM | Alarm.com Holdings, Inc. | −8,400 | 141,700 | $6,120,023 | |
| FN | Fabrinet | −7,500 | 20,000 | $10,430,400 | |
| HWKN | Hawkins Inc | −6,100 | 59,800 | $9,185,280 | |
| WMS | Advanced Drainage Systems, Inc. | −5,500 | 10,800 | $1,481,004 | |
| TECH | BIO-TECHNE Corp | −5,400 | 341,050 | $17,823,273 | |
| BMI | Badger Meter Inc | −4,700 | 7,300 | $1,112,155 | |
| VEEV | Veeva Systems Inc | −3,600 | 36,000 | $6,323,760 | |
| TYL | Tyler Technologies Inc | −2,950 | 27,325 | $9,355,533 | |
| BCPC | Balchem Corp | −2,600 | 98,700 | $16,727,676 | |
| AWK | American Water Works Company, Inc. | −400 | 89,840 | $12,226,325 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
7 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| VMI | Valmont Industries Inc | 19,400 | $7,751,658 | |
| WTS | Watts Water Technologies Inc | 26,500 | $7,692,685 | |
| SNEX | StoneX Group Inc. | 30,000 | $3,629,250 | |
| HXL | Hexcel Corp /De/ | 42,000 | $3,399,060 | |
| MDA | MDA Space Ltd. | 134,100 | $3,395,412 | |
| TTEK | Tetra Tech Inc | 71,500 | $2,153,580 | |
| CLH | Clean Harbors Inc | 3,600 | $1,032,228 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
6 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| TREX | Trex Co Inc | 302,462 | $10,610,366 | |
| BRKR | Bruker Corp | 173,500 | $8,173,585 | |
| PAYC | Paycom Software, Inc. | 50,500 | $8,047,680 | |
| ERII | Energy Recovery, Inc. | 128,160 | $1,728,878 | |
| CGNX | Cognex Corp | 42,012 | $1,511,591 | |
| OLED | Universal Display Corp \Pa\ | 12,900 | $1,506,462 | |
| No positions match the current search. | ||||
42 tracked positions ·
$335,559,748 total
· filing declares
42 positions · $334,351,877
· as of Mar 31, 2026
All sectors
Basic Materials
Consumer Cyclical
Consumer Defensive
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| NVMI |
Nova Ltd.
Technology
|
Reduced | 48,130 | $20,901,896 | 6.23% | |
| TECH |
BIO-TECHNE Corp
Healthcare
|
Reduced | 341,050 | $17,823,273 | 5.31% | |
| BCPC |
Balchem Corp
Basic Materials
|
Reduced | 98,700 | $16,727,676 | 4.99% | |
| HLI |
Houlihan Lokey, Inc.
Financial Services
|
Added | 98,250 | $14,110,665 | 4.21% | |
| BSY |
Bentley Systems Inc
Technology
|
Reduced | 400,300 | $14,058,536 | 4.19% | |
| EGP |
Eastgroup Properties Inc
Real Estate
|
Added | 75,600 | $13,992,804 | 4.17% | |
| FSS |
Federal Signal Corp /De/
Industrials
|
Added | 123,100 | $13,312,034 | 3.97% | |
| CSW |
Csw Industrials, Inc.
Industrials
|
Added | 49,800 | $12,976,884 | 3.87% | |
| EXPO |
Exponent Inc
Industrials
|
Added | 191,800 | $12,514,950 | 3.73% | |
| AWK |
American Water Works Company, Inc.
Utilities
|
Reduced | 89,840 | $12,226,325 | 3.64% | |
| LRN |
Stride, Inc.
Consumer Defensive
|
Added | 125,300 | $11,047,701 | 3.29% | |
| ROL |
Rollins Inc
Consumer Cyclical
|
Reduced | 203,000 | $10,842,230 | 3.23% | |
| MANH |
Manhattan Associates Inc
Technology
|
Reduced | 79,310 | $10,557,747 | 3.15% | |
| FN |
Fabrinet
Technology
|
Reduced | 20,000 | $10,430,400 | 3.11% | |
| ENTG |
Entegris Inc
Technology
|
Reduced | 81,900 | $9,601,956 | 2.86% | |
| TYL |
Tyler Technologies Inc
Technology
|
Reduced | 27,325 | $9,355,533 | 2.79% | |
| GGG |
Graco Inc
Industrials
|
Added | 110,000 | $9,311,500 | 2.77% | |
| HWKN |
Hawkins Inc
Basic Materials
|
Reduced | 59,800 | $9,185,280 | 2.74% | |
| FCN |
Fti Consulting, Inc
Industrials
|
Held | 50,000 | $8,838,500 | 2.63% | |
| SITM |
SITIME Corp
Technology
|
Reduced | 25,000 | $8,633,750 | 2.57% | |
| MSCI |
MSCI Inc.
Financial Services
|
Added | 15,650 | $8,435,506 | 2.51% | |
| TMDX |
TransMedics Group, Inc.
Healthcare
|
Reduced | 78,739 | $7,827,443 | 2.33% | |
| VMI |
Valmont Industries Inc
Industrials
|
NEW | 19,400 | $7,751,658 | 2.31% | |
| WTS |
Watts Water Technologies Inc
Industrials
|
NEW | 26,500 | $7,692,685 | 2.29% | |
| VEEV |
Veeva Systems Inc
Healthcare
|
Reduced | 36,000 | $6,323,760 | 1.88% | |
| TW |
Tradeweb Markets Inc.
Financial Services
|
Reduced | 53,150 | $6,253,629 | 1.86% | |
| ALRM |
Alarm.com Holdings, Inc.
Technology
|
Reduced | 141,700 | $6,120,023 | 1.82% | |
| MIR |
Mirion Technologies, Inc.
Industrials
|
Added | 305,300 | $5,675,527 | 1.69% | |
| HQY |
Healthequity, Inc.
Healthcare
|
Added | 50,800 | $4,245,356 | 1.27% | |
| SNEX |
StoneX Group Inc.
Financial Services
|
NEW | 30,000 | $3,629,250 | 1.08% | |
| HXL |
Hexcel Corp /De/
Industrials
|
NEW | 42,000 | $3,399,060 | 1.01% | |
| MDA |
MDA Space Ltd.
Industrials
|
NEW | 134,100 | $3,395,412 | 1.01% | |
| TRNS |
Transcat Inc
Industrials
|
Held | 40,000 | $2,938,000 | 0.88% | |
| UTI |
Universal Technical Institute Inc
Consumer Defensive
|
Added | 66,668 | $2,406,714 | 0.72% | |
| STVN |
Stevanato Group S.p.A.
Healthcare
|
Held | 175,000 | $2,406,250 | 0.72% | |
| BRBR |
Bellring Brands, Inc.
Consumer Defensive
|
Added | 140,000 | $2,252,600 | 0.67% | |
| TTEK |
Tetra Tech Inc
Industrials
|
NEW | 71,500 | $2,153,580 | 0.64% | |
| KNSL |
Kinsale Capital Group, Inc.
Financial Services
|
Added | 4,457 | $1,522,778 | 0.45% | |
| WMS |
Advanced Drainage Systems, Inc.
Industrials
|
Reduced | 10,800 | $1,481,004 | 0.44% | |
| BMI |
Badger Meter Inc
Technology
|
Reduced | 7,300 | $1,112,155 | 0.33% | |
| DOCS |
Doximity, Inc.
Healthcare
|
Added | 45,300 | $1,055,490 | 0.31% | |
| CLH |
Clean Harbors Inc
Industrials
|
NEW | 3,600 | $1,032,228 | 0.31% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.