497AD 1 kl07019.htm RULE 482 ADVERTISING

The Conestoga Small Cap Fund
T i c k e r S y m b o l : C C A S X
P I O N E E R S I N S M A L L C A P I N V E S T I N G
Managed by Partners William C. Martindale and Robert M. Mitchell of Conestoga Capital Advisors located in Radnor, PA, the Conestoga Small Cap Fund provides investors with access to the firm’s expertise in small cap management. The Fund seeks to provide long-term growth of capital. To this end, the Fund strives to generate long-term investment returns favorable to its benchmarks with lower risk. For additional information, please go to www.conestogacapital.com or contact Mark S. Clewett, Director of Institutional Sales and Client Services, at 1-800-320-7790.
 
Performance as of 6/30/06:
 
 
Trailing 3 Months
Trailing 12 Months
Since Inception (10/001/02 Ann.
Conestoga Fund
-6.46%
11.00%
17.86%
Russell 2000 Index
-5.02%
14.58%
21.78%
Russell 2000 Growth
-7.25%
14.58%
20.58%
 
Characteristics as of 6/30/06:
 
Conestoga
Fund
Russell 2000 Index
P/E Calendar (1 Yr. Forward.)
19.6X
17.7X
Earnings Growth
17.7%
15.7%
PEG Ratio
1.11
1.13
ROE
24.1%
9.5%
Weighted Avg. Market Cap.
$ 1,079 mm
$1,044 mm
Long-Term Debt/Capital
10%
25%
Dividend Yield
0.78%
1.30%
Number of Holdings
44
N/A



Top Ten Holdings as of 6/30/06

Raven Industries, Inc.
3.98%
Computer Programs & Sys.
3.60%
Ansoft Corp.
3.26%
Simpson Manufacturing, Inc.
3.25%
Franklin Electric Co. Inc.
3.11%
Ritchie Bros. Auctioneers
2.88%
FactSet Research Systems, Inc.
2.84%
World Acceptance Corp.
2.78%
Trimble Navigation, Ltd.
2.75%
Winnebago Industries, Inc.
2.61%
Total Percent of Portfolio:
31.06%
   
Expense Ratio
  
Management Fee
1.20%
Additional Expenses
0.15%
12b-1 Fee
0.00%
Total Fees
1.35%

Disclosures: The Conestoga Small Cap Fund can be purchased fund direct or is available through most major mutual fund platforms. Please contact Conestoga Capital Advisors for additional instructions. Conestoga Fund and Russell 2000 characteristics generated by Factset analytical system. Multex Earnings Estimates interfaced with Factset. Performance is based upon closing NAV calculation on listed dates and represents past performance. Past performance does not guarantee future results and current performance may be lower or higher than the performance quoted. Performance data includes the reinvestment of dividends. Investment returns and principal value of an investment in Conestoga Small Cap Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For the Fund’s daily NAV, list of additional holdings, total return as of the most recent month-end and a copy of the Fund’s Prospectus, please visit www.conestogacapital.com or call 1-800-320-7790. The Prospectus contains information about the Fund’s investment objective, risks, and expenses which an investor should consider before investing.

 
Conestoga Capital Advisors     259 N. Radnor Chester Rd. Suite 120     Radnor, PA 19087
 
Phone:484-654-1380     Fax: 610-225-0533     www.conestogacapital.com