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Montanaro Asset Management Ltd

CIK 1831133 · latest 13F filed 12 August 2026 · Read the filing on EDGAR

Montanaro Asset Management Ltd reported 42 US-listed holdings worth $317.2 million in its 13F for the quarter ended 30 June 2026, filed 12 August 2026. Its largest: Nova Ltd (5.9%), Watts Water Technologies Inc. (5.7%) and Eastgroup Properties Inc. (5.1%). Against the quarter before, it opened 5 positions, added to 10, trimmed 27 and sold out of 5.

Reported holdings$317.2M-5.1% on Q1 2026
Positions42as many as Q1 2026
The largest ten45.4%of its reported holdings
Latest 13FQ2 2026filed 12 August 2026
Where the money is
OpenedAdded toTrimmed
NVMI5.9%WTS5.7%EGP5.1%FSS5.0%VMI4.7%BCPC4.7%SITM3.8%BSY3.6%CSW3.6%HLI3.5%AWK3.5%AYI3.4%ENTG3.4%EXPO3.3%28 more41.0%

The 14 largest of its 42 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.

Reported holdings, quarter by quarter
Q3 2024: $561.1 million in 47 positions$561MQ3 24Q4 2024: $484.4 million in 47 positions$484MQ4 24Q1 2025: $340.9 million in 46 positions$341MQ1 25Q2 2025: $387.9 million in 39 positions$388MQ2 25Q3 2025: $400.4 million in 41 positions$400MQ3 25Q4 2025: $358.8 million in 41 positions$359MQ4 25Q1 2026: $334.4 million in 42 positions$334MQ1 26Q2 2026: $317.2 million in 42 positions$317MQ2 26

What the fund reported holding at each quarter's end; hover a bar for the number of positions

What its reported holdings returned

Held through each quarter, the holdings it reported returned -8.8% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.

Its reported holdingsThe S&P 500
90105120135Q3 24Q4 24Q1 25Q2 25Q3 25Q4 25Q1 26Q2 26Its holdings -8.8%S&P 500 +30.2%

Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.

What it did on the quarter

Opened 5Added 10Trimmed 27Sold out 5
Opened: 5Added: 10Trimmed: 27Sold out: 5

Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held

Opened 5

  1. Acuity Inc. (De) AYI$10.9 million
  2. Sensient Technologies Corp. SXT$8.1 million
  3. Bel Fuse Inc. BELFB$3.7 million
  4. Kodiak Gas Services, Inc. KGS$3.4 million
  5. Esco Technologies Inc. ESE$1.8 million

Added to 10

  1. Watts Water Technologies Inc. WTS+19,600 shares · +74%
  2. Valmont Industries Inc. VMI+6,450 shares · +33%
  3. Clean Harbors Inc. CLH+9,900 shares · +275%
  4. Mirion Technologies, Inc. MIR+113,346 shares · +37%
  5. Veeva Systems Inc. VEEV+7,100 shares · +20%
  6. Advanced Drainage Systems, Inc. WMS+7,100 shares · +66%
  7. Eastgroup Properties Inc. EGP+3,718 shares · +5%
  8. Tetra Tech Inc. TTEK+20,300 shares · +28%

and 2 more in the table below

Trimmed 27

  1. Bio-Techne Corp. TECH-214,715 shares · -63%
  2. Nova Ltd NVMI-13,750 shares · -29%
  3. Sitime Corp. SITM-9,000 shares · -36%
  4. Fabrinet FN-10,000 shares · -50%
  5. Graco Inc. GGG-60,000 shares · -55%
  6. Hawkins Inc. HWKN-30,000 shares · -50%
  7. Entegris Inc. ENTG-22,400 shares · -27%
  8. MSCI Inc. MSCI-4,650 shares · -30%

and 19 more in the table below

Sold out of 5

  1. Tyler Technologies Inc. TYL$9.4 million last quarter
  2. FTI Consulting, Inc. FCN$8.8 million last quarter
  3. TransMedics Group, Inc. TMDX$7.8 million last quarter
  4. Bellring Brands Inc. BRBR$2.3 million last quarter
  5. Doximity, Inc. DOCS$1.1 million last quarter

What it holds

CompanySharesValueOf its bookChange in shares
Nova Ltd NVMI34.4K$18.7 million5.89%-13.8K
Watts Water Technologies Inc. WTS46.1K$18.0 million5.69%+19.6K
Eastgroup Properties Inc. EGP79.3K$16.1 million5.06%+3.7K
Federal Signal Corp. FSS122.5K$15.7 million4.96%-569
Valmont Industries Inc. VMI25.9K$14.9 million4.71%+6.5K
Balchem Corp. BCPC87.5K$14.8 million4.66%-11.2K
Sitime Corp. SITM16.0K$11.9 million3.76%-9.0K
Bentley Systems Inc. BSY380.8K$11.4 million3.59%-19.5K
CSW Industrials, Inc. CSW40.7K$11.3 million3.57%-9.1K
Houlihan Lokey, Inc. HLI82.9K$11.1 million3.51%-15.3K
American Water Works Company, Inc. AWK84.1K$11.1 million3.49%-5.7K
Acuity Inc. (De) AYI28.9K$10.9 million3.44%new
Entegris Inc. ENTG59.5K$10.7 million3.37%-22.4K
Exponent Inc. EXPO179.1K$10.5 million3.32%-12.7K
Manhattan Associates Inc. MANH67.8K$9.4 million2.98%-11.5K
Bio-Techne Corp. TECH126.3K$8.9 million2.81%-214.7K
Stride, Inc. LRN97.2K$8.4 million2.64%-28.1K
Sensient Technologies Corp. SXT65.5K$8.1 million2.55%new
Veeva Systems Inc. VEEV43.1K$7.6 million2.41%+7.1K
Mirion Technologies, Inc. MIR418.6K$7.5 million2.37%+113.3K
Rollins Inc. ROL151.3K$6.3 million1.99%-51.7K
MSCI Inc. MSCI11.0K$6.2 million1.94%-4.7K
Fabrinet FN10.0K$5.6 million1.77%-10.0K
Alarm.com Holdings, Inc. ALRM111.2K$5.2 million1.64%-30.5K
MDA Space Ltd MDA121.6K$5.0 million1.58%-12.5K
Healthequity, Inc. HQY47.4K$4.3 million1.35%-3.4K
Hawkins Inc. HWKN29.8K$4.2 million1.34%-30.0K
Clean Harbors Inc. CLH13.5K$4.0 million1.27%+9.9K
Tradeweb Markets Inc. TW39.5K$3.9 million1.24%-13.7K
Graco Inc. GGG50.0K$3.8 million1.19%-60.0K
Bel Fuse Inc. BELFB11.0K$3.7 million1.16%new
Kodiak Gas Services, Inc. KGS45.0K$3.4 million1.07%new
Hexcel Corp. HXL33.7K$3.4 million1.06%-8.3K
Transcat Inc. TRNS32.1K$3.0 million0.94%-7.9K
StoneX Group Inc. SNEX24.1K$2.9 million0.90%-5.9K
Advanced Drainage Systems, Inc. WMS17.9K$2.8 million0.89%+7.1K
Tetra Tech Inc. TTEK91.8K$2.7 million0.84%+20.3K
Stevanato Group SpA STVN140.5K$2.5 million0.80%-34.5K
Universal Technical Institute Inc. UTI54.1K$2.3 million0.73%-12.6K
Esco Technologies Inc. ESE5.0K$1.8 million0.55%new
Kinsale Capital Group, Inc. KNSL4.8K$1.6 million0.49%+300
Badger Meter Inc. BMI10.3K$1.5 million0.48%+3.0K
Every US-listed position in the fund's 13F for the quarter ended 30 June 2026, by the value it reported.
Read moreChange is shares against its 13F for the quarter before; the 5 it sold out of are in the box above.