CONESTOGA SMALL CAP FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
COMMON STOCKS - 99.6%	Shares		Value
Basic Materials - 6.4%
Metal Fabricating - 3.5%
RBC Bearings, Inc. (a)		335,800	$	129,215,840
Specialty Chemicals - 2.9%
Balchem Corporation		653,060		103,967,152
Consumer Discretionary - 3.5%
Education Services - 1.3%
Bright Horizons Family Solutions, Inc. (a)		377,200		46,618,148
Home Improvement Retailers - 2.2%
SiteOne Landscape Supply, Inc. (a)		659,655		79,778,676
Consumer Staples - 1.4%
Nondurable Household Products - 1.4%
WD-40 Company		228,176		52,044,664
Financials - 2.3%
Financial Data Providers - 2.3%
Clearwater Analytics Holdings, Inc. - Class A (a)		3,822,413		83,825,517
Health Care - 12.4%
Biotechnology - 2.0%
Vericel Corporation (a)		1,695,550		72,145,653
Medical Equipment - 7.3%
LeMaitre Vascular, Inc.		1,115,721		92,660,629
Merit Medical Systems, Inc. (a)		1,205,520		112,692,009
Repligen Corporation (a)		481,760		59,921,309
				265,273,947
Medical Supplies - 3.1%
Stevanato Group S.p.A. (b)		4,655,031		113,722,407

CONESTOGA SMALL CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
COMMON STOCKS - 99.6% (Continued)	Shares		Value
Industrials - 38.2%
Building Materials: Other - 4.3%
Simpson Manufacturing Company, Inc.		644,365	$	100,076,328
Trex Company, Inc. (a)		1,052,110		57,213,742
				157,290,070
Building: Climate Control - 2.7%
AAON, Inc.		1,310,037		96,615,229
Commercial Vehicles and Parts - 2.8%
Federal Signal Corporation		952,600		101,375,692
Construction - 4.1%
Construction Partners, Inc. - Class A (a)		1,405,117		149,335,835
Defense - 2.1%
Mercury Systems, Inc. (a)		1,400,133		75,411,163
Diversified Industrials - 6.3%
CSW Industrials, Inc.		329,100		94,395,753
ESCO Technologies, Inc.		713,630		136,924,188
				231,319,941
Electronic Equipment: Control & Filter - 4.3%
Crane NXT Company		704,000		37,945,600
Helios Technologies, Inc.		1,386,774		46,276,649
MSA Safety, Inc.		431,200		72,238,936
				156,461,185
Electronic Equipment: Gauges & Meters - 2.8%
Mesa Laboratories, Inc. (b)		404,510		38,112,932
Transcat, Inc. (a)(b)		752,199		64,659,026
				102,771,958
Electronic Equipment: Other - 2.0%
SPX Technologies, Inc. (a)		440,785		73,910,829
Engineering & Contracting Services - 3.1%
Exponent, Inc.		1,510,630		112,859,167

CONESTOGA SMALL CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
COMMON STOCKS - 99.6% (Continued)	Shares		Value
Industrials - 38.2% (Continued)
Industrial Suppliers - 1.0%
Hillman Solutions Corporation (a)		5,127,558	$	36,610,764
Machinery: Industrial - 1.1%
Kadant, Inc.		124,000		39,363,800
Professional Business Support Services - 1.6%
UL Solutions, Inc. - Class A		816,870		59,517,148
Real Estate - 3.6%
Real Estate Services - 3.6%
FirstService Corporation		743,210		129,779,330
Technology - 25.1%
Computer Services - 1.3%
Workiva, Inc. (a)		665,254		45,536,636
Production Technology Equipment - 4.4%
Azenta, Inc. (a)		1,355,187		41,712,656
Novanta, Inc. (a)		926,665		119,474,918
				161,187,574
Software - 19.4%
Agilysys, Inc. (a)		518,286		59,416,307
BlackLine, Inc. (a)		1,476,090		83,576,216
CCC Intelligent Solutions Holdings, Inc. (a)		7,790,825		73,311,663
Descartes Systems Group, Inc. (The) (a)		1,495,296		151,989,362
nCino, Inc. (a)		1,594,000		44,584,180
Q2 Holdings, Inc. (a)		1,020,711		95,528,343
Simulations Plus, Inc.		884,734		15,438,608
SPS Commerce, Inc. (a)		733,130		99,771,662
Vertex, Inc. - Class A (a)		2,371,057		83,781,299
				707,397,640
Telecommunications - 2.4%
Telecommunications Equipment - 2.4%
Digi International, Inc. (a)(b)		2,488,231		86,739,733

CONESTOGA SMALL CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
COMMON STOCKS - 99.6% (Continued)	Shares		Value
Utilities - 4.3%
Waste & Disposal Services - 4.3%
Casella Waste Systems, Inc. - Class A (a)		1,371,385	$	158,230,401
Total Investments at Value - 99.6% (Cost $2,243,130,405)			$	3,628,306,099
Other Assets in Excess of Liabilities - 0.4%				14,913,525
Net Assets - 100.0%			$	3,643,219,624

(a)	Non-income producing security.
(b)	The Fund owned 5% or more of the company’s outstanding voting shares thereby making the company an affiliate of the Fund as that term is defined in the Investment Company Act of 1940.

Schedule of Investments uses the Russell ICB Industry and Sector classification.

CONESTOGA SMID CAP FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
COMMON STOCKS - 100.0%	Shares		Value
Basic Materials - 6.2%
Metal Fabricating - 4.0%
RBC Bearings, Inc. (a)		67,325	$	25,906,660
Specialty Chemicals - 2.2%
Balchem Corporation		92,940		14,796,048
Consumer Discretionary - 12.0%
Consumer Services: Miscellaneous - 3.9%
Rollins, Inc.		454,000		25,614,680
Education Services - 2.6%
Bright Horizons Family Solutions, Inc. (a)		136,935		16,923,797
Home Improvement Retailers - 1.8%
SiteOne Landscape Supply, Inc. (a)		97,990		11,850,911
Recreational Products - 2.6%
Pool Corporation		57,405		16,732,409
Recreational Vehicles & Boats - 1.1%
LCI Industries		77,485		7,065,857
Financials - 1.8%
Financial Data Providers - 1.8%
Clearwater Analytics Holdings, Inc. - Class A (a)		549,360		12,047,465
Health Care - 10.6%
Medical Equipment - 5.5%
Merit Medical Systems, Inc. (a)		210,693		19,695,582
Repligen Corporation (a)		128,880		16,030,094
				35,725,676
Medical Supplies - 5.1%
Bio-Techne Corporation		147,655		7,596,849
Stevanato Group S.p.A.		660,767		16,142,538

CONESTOGA SMID CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
COMMON STOCKS - 100.0% (Continued)	Shares		Value
Health Care - 10.6% (Continued)
Medical Supplies - 5.1% (Continued)
West Pharmaceutical Services, Inc.	44,750	$	9,791,300
			33,530,687
Industrials - 37.3%
Aerospace - 4.0%
HEICO Corporation - Class A	100,000		25,875,000
Building Materials: Other - 3.6%
Simpson Manufacturing Company, Inc.	77,150		11,982,166
Trex Company, Inc. (a)	218,475		11,880,671
			23,862,837
Building: Climate Control - 3.1%
Watsco, Inc.	45,465		20,078,253
Construction - 3.9%
Construction Partners, Inc. - Class A (a)	238,530		25,350,969
Defense - 2.0%
Mercury Systems, Inc. (a)	248,025		13,358,627
Diversified Industrials - 2.5%
CSW Industrials, Inc.	55,905		16,035,231
Electronic Equipment: Control & Filter - 1.9%
MSA Safety, Inc.	74,555		12,490,199
Electronic Equipment: Other - 2.0%
SPX Technologies, Inc. (a)	77,455		12,987,654
Engineering & Contracting Services - 2.7%
Exponent, Inc.	236,725		17,685,725
Machinery: Engines - 1.4%
Generac Holdings, Inc. (a)	65,000		9,308,650

CONESTOGA SMID CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
COMMON STOCKS - 100.0% (Continued)	Shares		Value
Industrials - 37.3% (Continued)
Machinery: Industrial - 3.9%
EVI Industries, Inc.		438,172	$	9,565,295
JBT Marel Corporation		76,125		9,154,792
Kadant, Inc.		20,750		6,587,088
				25,307,175
Machinery: Specialty - 2.6%
Graco, Inc.		198,690		17,081,379
Professional Business Support Services - 1.3%
Paylocity Holding Corporation (a)		45,905		8,317,527
Transaction Processing Services - 2.4%
Jack Henry & Associates, Inc.		86,355		15,558,580
Real Estate - 4.0%
Real Estate Services - 4.0%
FirstService Corporation		147,730		25,796,613
Technology - 23.3%
Computer Services - 1.1%
Workiva, Inc. (a)		103,303		7,071,090
Production Technology Equipment - 2.1%
Novanta, Inc. (a)		107,855		13,905,745
Software - 20.1%
CCC Intelligent Solutions Holdings, Inc. (a)		1,446,140		13,608,178
Descartes Systems Group, Inc. (The) (a)		227,960		23,170,994
Guidewire Software, Inc. (a)		105,000		24,722,250
nCino, Inc. (a)		159,000		4,447,230
Procore Technologies, Inc. (a)		142,790		9,769,692
Q2 Holdings, Inc. (a)		206,115		19,290,303
SPS Commerce, Inc. (a)		94,114		12,807,974
Tyler Technologies, Inc. (a)		39,700		23,535,748
				131,352,369

CONESTOGA SMID CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
COMMON STOCKS - 100.0% (Continued)	Shares		Value
Utilities - 4.8%
Waste & Disposal Services - 4.8%
Casella Waste Systems, Inc. - Class A (a)	270,925	$	31,259,326
Total Investments at Value - 100.0% (Cost $500,602,597)		$	652,877,139
Other Assets in Excess of Liabilities - 0.0% (b)			98,091
Net Assets - 100.0%		$	652,975,230

(a)	Non-income producing security.
(b)	Percentage rounds to less than 0.1%.

Schedule of Investments uses the Russell ICB Industry and Sector classification.

CONESTOGA MID CAP FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
COMMON STOCKS - 97.4%	Shares		Value
Consumer Discretionary - 18.0%
Consumer Services: Miscellaneous - 9.6%
Copart, Inc. (a)		2,683	$	131,655
Rollins, Inc.		3,195		180,262
				311,917
Education Services - 2.8%
Bright Horizons Family Solutions, Inc. (a)		730		90,221
Recreational Products - 3.0%
Pool Corporation		335		97,646
Specialty Retail - 2.6%
Tractor Supply Company		1,615		85,223
Financials - 0.9%
Financial Data Providers - 0.9%
FactSet Research Systems, Inc.		65		29,073
Health Care - 16.2%
Health Care Services - 3.9%
Veeva Systems, Inc. - Class A (a)		435		125,271
Medical Equipment - 8.4%
IDEXX Laboratories, Inc. (a)		215		115,313
Repligen Corporation (a)		589		73,260
STERIS plc		360		86,479
				275,052
Medical Supplies - 3.9%
Bio-Techne Corporation		1,035		53,251
West Pharmaceutical Services, Inc.		340		74,392
				127,643
Industrials - 31.5%
Aerospace - 5.7%
HEICO Corporation - Class A		720		186,300

CONESTOGA MID CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
COMMON STOCKS - 97.4% (Continued)	Shares		Value
Industrials - 31.5% (Continued)
Building: Climate Control - 3.9%
AAON, Inc.	575	$	42,406
Watsco, Inc.	190		83,908
			126,314
Electronic Equipment: Pollution Control - 2.0%
Xylem, Inc.	510		65,974
Engineering & Contracting Services - 1.5%
Exponent, Inc.	660		49,308
Machinery: Engines - 2.0%
Generac Holdings, Inc. (a)	460		65,876
Machinery: Specialty - 3.0%
Graco, Inc.	1,145		98,436
Professional Business Support Services - 8.8%
Fair Isaac Corporation (a)	40		73,118
Paylocity Holding Corporation (a)	249		45,116
Verisk Analytics, Inc.	535		166,653
			284,887
Transaction Processing Services - 2.9%
Jack Henry & Associates, Inc.	530		95,490
Trucking - 1.7%
Old Dominion Freight Line, Inc.	329		53,397
Real Estate - 3.5%
Real Estate Services - 3.5%
CoStar Group, Inc. (a)	1,415		113,766
Technology - 22.7%
Computer Services - 4.8%
Cloudflare, Inc. - Class A (a)	265		51,895
Gartner, Inc. (a)	260		105,097
			156,992

CONESTOGA MID CAP FUND
SCHEDULE OF INVESTMENTS (Continued)
COMMON STOCKS - 97.4% (Continued)	Shares		Value
Technology - 22.7% (Continued)
Software - 17.9%
Bentley Systems, Inc. - Class B	1,235	$	66,653
Fortinet, Inc. (a)	899		95,043
Guidewire Software, Inc. (a)	485		114,193
Procore Technologies, Inc. (a)	617		42,215
Roper Technologies, Inc.	205		116,202
Tyler Technologies, Inc. (a)	250		148,210
			582,516
Utilities - 4.6%
Waste & Disposal Services - 4.6%
Waste Connections, Inc.	805		150,310
Total Investments at Value - 97.4% (Cost $2,729,997)		$	3,171,612
Other Assets in Excess of Liabilities - 2.6%			85,758
Net Assets - 100.0%		$	3,257,370

^(a) Non-income producing security.

Schedule of Investments uses the Russell ICB Industry and Sector classification.

CONESTOGA DISCOVERY FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
COMMON STOCKS - 97.7%	Shares		Value
Consumer Discretionary - 6.7%
Education Services - 4.6%
Universal Technical Institute, Inc. (a)		6,575	$	222,827
Entertainment - 2.1%
Thunderbird Entertainment Group, Inc. (a)		82,736		100,110
Consumer Staples - 7.0%
Food Products - 3.7%
Mama's Creations, Inc. (a)		21,855		181,396
Soft Drinks - 3.3%
Vita Coco Company, Inc. (The) (a)		4,360		157,396
Financials - 3.3%
Property & Casualty Insurance - 3.3%
Palomar Holdings, Inc. (a)		1,031		159,032
Health Care - 22.8%
Biotechnology - 7.0%
Alpha Teknova, Inc. (a)		18,506		90,864
Twist Bioscience Corporation (a)		2,750		101,173
Vericel Corporation (a)		3,469		147,606
				339,643
Health Care Facilities - 2.4%
U.S. Physical Therapy, Inc.		1,459		114,094
Health Care Services - 4.4%
Phreesia, Inc. (a)		7,500		213,450
Medical Equipment - 9.0%
BioLife Solutions, Inc. (a)		6,354		136,865
iRadimed Corporation		2,690		160,835
OrthoPediatrics Corporation (a)		6,364		136,699
				434,399

CONESTOGA DISCOVERY FUND
SCHEDULE OF INVESTMENTS (Continued)
COMMON STOCKS - 97.7% (Continued)	Shares		Value
Industrials - 35.2%
Construction - 3.0%
Construction Partners, Inc. - Class A (a)	1,333	$	141,671
Electronic Equipment: Control & Filter - 2.9%
Energy Recovery, Inc. (a)	10,750		137,385
Electronic Equipment: Gauges & Meters - 3.2%
Transcat, Inc. (a)	1,815		156,017
Engineering & Contracting Services - 8.8%
Bowman Consulting Group Ltd. (a)	5,400		155,250
Willdan Group, Inc. (a)	4,331		270,731
			425,981
Industrial Suppliers - 4.2%
CryoPort, Inc. (a)	10,567		78,830
Hillman Solutions Corporation (a)	17,220		122,951
			201,781
Professional Business Support Services - 7.2%
Montrose Environmental Group, Inc. (a)	8,425		184,423
NV5 Global, Inc. (a)	7,111		164,193
			348,616
Security Services - 2.0%
SoundThinking, Inc. (a)	7,370		96,215
Transaction Processing Services - 3.9%
I3 Verticals, Inc. - Class A (a)	6,822		187,469
Technology - 18.9%
Software - 18.9%
N-able, Inc. (a)	17,290		140,049
Olo, Inc. - Class A (a)	18,940		168,566
Planet Labs PBC - Class A (a)	40,865		249,277
Q2 Holdings, Inc. (a)	1,510		141,321
Simulations Plus, Inc.	2,078		36,261
TECSYS, Inc.	6,235		175,362
			910,836

CONESTOGA DISCOVERY FUND
SCHEDULE OF INVESTMENTS (Continued)
COMMON STOCKS - 97.7% (Continued)	Shares		Value
Telecommunications - 3.8%
Telecommunications Equipment - 3.8%
Digi International, Inc. (a)	5,210	$	181,621
Total Investments at Value - 97.7% (Cost $3,882,102)		$	4,709,939
Other Assets in Excess of Liabilities - 2.3%			109,422
Net Assets - 100.0%		$	4,819,361

^(a) Non-income producing security.

Schedule of Investments uses the Russell ICB Industry and Sector classification.